Changes In Financial Management Research Articles

The Impact of Artificial Intelligence (AI) on Financial Management

This study examines the impact of artificial intelligence (AI) on financial control, exploring the implementation of AI technology in financial selection-making strategies, predictive analysis and hazard manipulation. the use of a systematic literature examine approach, this studies covers the substantial modifications delivered via using AI in improving operational overall performance, presenting deep insights for financial preference making, and improving customer revel in in the banking area.. Even though it provides great benefits, this research also highlights ethical challenges, data security, adoption risks, as well as the need for policy and regulatory adjustments to the development of AI technology in the context of financial management. It is hoped that the results of this research can provide guidance for companies and policy makers in facing revolutionary changes in financial management in the digital era.

REFORM OF PUBLIC SERVICE PROVISION SYSTEMS: WORLDWIDE EXPERIENCE

Ukraine's orientation towards European and Euro-Atlantic integration, effective operations, and the recovery of Ukraine during wartime and the post-war period require reforms aimed at providing public services in modern conditions, aligning their provision with relevant standards, and improving their quality. This publication addresses the necessity of studying global practices in public service delivery to develop recommendations for enhancing their quality under contemporary circumstances in Ukraine. The analysis conducted in the publication can be summarized from several perspectives: Decentralization: the degree of decentralization was different. Where governments were concerned with maintaining same and equal access to services, such as in education services in France and Austria, strong central control was maintained, and local authority was limited. Accountability: N. Flynn and L. Strehl expressed serious concern in their work about the confusion regarding who is accountable to whom, for what, and when. In the Netherlands, for example, it was unclear who would be responsible for the deterioration of the quality of public services at the municipal level if budgetary funds proved to be insufficient. Personnel Management: In all the countries considered at that time, there was an increase in investments in the development and training of public service providers. A growing customer-oriented approach was identified. However, not all training programs focused on service management and customer orientation. For instance, training to promote the development of an active citizenship formation was widespread, which was considered important for ensuring the provision of quality public services. Financial Management: Budgeting was a common practice, and there was a departure from traditional approaches to public sector budgeting. Overall, changes in financial management in all countries highlighted the importance of business planning and measuring the effectiveness of public authorities' activities. Interaction with the Private Sector: The authors found evidence that public services in many countries were disillusioned with market forces and market competition, often associated with the inability of markets to deliver promised improvements. As a result, in countries such as New Zealand, the Netherlands, and Sweden, policies began to emphasize non-competitive ways of enhancing the efficiency of public service organizations. Different reasons are cited from country to country. In the UK, for instance, a high level of expenses related to contracting and administering public service delivery contracts by private organizations was noted. Despite many changes aimed at improving the quality of public services, which were initially made to achieve specific political goals, there were also entirely objective grounds for implementing these changes. Factors driving and continuing to drive the necessity of introducing changes both to the public services themselves and to the management systems of their provision including: reduction of government expenditures in some areas and their increase in others; emphasis on the public as a client and customer choice; replacement of administrators with managers in the public service; blurring the lines between private and public sectors; demographic changes such as aging; introduction of performance management in public authority activities; adoption of information technologies in public authority activities; increased citizen discernment regarding public services; the influence of globalization on domestic markets; extensive privatization of state and municipal property.

The Effectiveness of the Role of Internal Control System in the Preparation of Regional Financial Statements

The existence of regional autonomy supports changes in various sectors, including changes in financial management. This is evidenced by the birth of three packages of laws in the field of state finance, namely: Law Number 17 of 2003 concerning State Finance; Law Number 1 of 2004 concerning the State Treasury; and Law Number 15 of 2004 concerning Examination of the Management and Accountability of State Finances. These three packages of laws regulate the management of state finances more democratically and regulate sanctions for managers of state finances. To support the implementation of regional autonomy in financial management, it is necessary to anticipate deviations in the preparation of financial statements. This study aimed to analyze the Effectiveness of the Role of the Internal Control System in the Preparation of Regional Financial Reports. The research approach is a descriptive qualitative approach. The method of analysis uses a literature study. The study results on the Effectiveness of the Role of the Internal Control System in the Preparation of Regional Financial Reports indicate that the internal control system has an effective role in preparing regional financial reports. But this internal control system cannot be said to be perfect. The internal control system still has limitations because this control system is a form of prevention, reduction, improvement of deviations.

The influence of parliamentarians on the development of financial management regulations for executive agencies

PurposeThe involvement of politicians in the introduction and use of financial management techniques in the public sector deserves more attention. This paper analyses the influence of members of Parliament (MPs) on the development of financial management regulations for Dutch central government executive agencies.Design/methodology/approachThis paper uses desk research and analyses formal evaluation reports, as well as minutes of meetings of Parliament to analyse the influence of MPs on the changes in financial management regulations.FindingsMPs' influence on the change of prescriptions seems to have been small. The authors observe that modifications were most often already formulated in general evaluation reports by the Ministry of Finance, in advance of parliamentary debates. The analysis also reveals that the criteria to be met by the executive agencies became more detailed in the initial years of the agency model and became more global in recent years.Research limitations/implicationsThis paper aims to contribute to the literature on the influence of politicians on financial management regulations.Practical implicationsThe paper shows that the influence of MPs on the prescriptions is quite small in daily practice and therefore, their role in the legislative process, as far as financial management techniques are concerned, is limited.Social implicationsThe results show that politicians are both in charge of, as well as subject to NPM-inspired financial management regulations, whereas their influence on the rules is small. The authors advise to further analyse this, as well as to explore how their role can be enlarged.Originality/valueThe interplay between politicians and financial management techniques in general, and the influence of MPs on the legislative process in specific, is an underresearched area. This paper aims to contribute to this literature and shows that the influence of MPs on the development of financial management regulations is limited. Several changes were made in these prescriptions in a period of more than 25 years, whereas discussions in the Parliament hardly played a role in these modifications.

Effect of internal control systems on financial management in Baringo county government, Kenya

This study intended to establish the effect of internal control systems on financial management in Baringo County government in Kenya. Internal control systems are integral components of the management processes of a public sector institution which should be established in order to provide reasonable assurance that the financial operations are carried out transparently and accountably. The study adopted the Committee of Sponsoring Organizations of the Tread way Commission (COSO) theoretical framework for analysis of internal control systems. According to COSO framework, the internal control system is analyzed using five variables namely; control environment, control activities, risk assessment, information and communication and monitoring. The research concluded that control activities and monitoring of information communication technology, significantly influences financial management as indicated by these analysis; (F=5.836, p = 000). Control activities (â = .315, p = 0.045) and ICS monitoring (â = .432, p = 0.049) significantly predict changes in financial management, while control environment (â = .162, p = 0.186) and information and communication (â = .264, p = 0.128) does not significantly predict changes in financial management. These research findings will be of significance to the Kenyan government in formulating policies related to efficient use of government resources. The findings will also be of significance to Baringo County in strengthening its internal control systems to enhance accountability and improve on financial management. Keywords : Internal control system, control evironment, control actities, monitoring, information and communication. JEL Classification : G34, G38, G39

Efectos de la privatización en la gestión financiera: un estudio de casos

The privatisation of a firm entails a thoroughgoing process of reform that includes the introduction of new management practices. A review of the theoretical and empirical studies conducted allows us to confirm that a systematic analysis of the change in management that arise after a public company's privatisation does not exist. This study explores the changes in financial management that take place after a public company's privatisation and proposes relevant factors in three performance areas of financial management (financial structure, investment decision and financial planning). In order to confirm the theoretical propositions posed, we used contemporary multiple case studies as a research methodology. In particular, the changes experienced in the financial management area in four privatised Spanish companies were investigated along the lines of a longitudinal analysis. The results of this study show that most theoretical propositions are confirmed and conclude that the three areas considered are relevant to the process of change in a privatised firm's financial management.

Understanding paradoxes, contradictions and agency in financial management change: a case study of a Chinese local government agency

Understanding paradoxes, contradictions and agency in financial management change: a case study of a Chinese local government agency

A Review of New Public Financial Management Change in Australia

A Review of New Public Financial Management Change in Australia

Financial Management and Financial Performance in British Trade Unions

AbstractThis article examines changes in the financial performance of British trade unions in the early 1990s. Using survey data, it looks for a relationship between changes in financial management and changes in financial performance. Unions have continued to increase the concentration of financial decision‐making and the sophistication of financial systems. However, financial concerns have become no more central to union decision‐making and as a result financial management improvements do not lead to improvements in financial performance. We argue that new financial management techniques lead to increases in the cost base as union organizations become more centralized and bureaucratic. The implications for representative effectiveness are discussed.

Financial accounting in the NHS.

Just as the NHS is changing, so is the world of finance and financial management within it. Indeed, although recent changes seem to be particularly far reaching, the process of change has been with us since at least the NHS reorganisation in 1974. To understand recent changes in financial management within the NHS one should first of all understand the distinction between financial accounting and management accounting. Financial accounting (also sometimes known as stewardship accounting) is the process whereby any organisation needs to have systems in place simply to enable transactions to take place. Wages and salaries have to be paid, supplies (such as drugs) or services (such as electricity) have to be bought, and income has to be collected from customers. All of these transactions have to be conducted properly. In the case of paying salaries, for example, this means not only paying the right salary to the right employee at the right time but also making the right deductions for income tax, national insurance, and pensions contributions; remitting that money to the appropriate authorities; and maintaining the necessary records. In due course these records are summarised to produce (usually) annual accounts. Only in a few comparatively minor respects are the principles of financial accounting any different in the NHS from any other large organisation. Historically, modern financial accounting grew out of the industrial revolution of the nineteenth century. Large scale industrial enterprises could be created only with substantial inputs of capital. This in turn required investors to be found and persuaded to part with their money. They in their turn expected a return on their investment and also an account of how the organisation had fared over the previous year. The format of modern financial accounts has therefore grown from the separation of the ownership of an organisation …

Research, audit, and education.

BMJ 1992;304:698-700 The limited ability of cost containment strategies to resolve problems besetting health services is in? creasingly being recognised. There is a growing aware? ness among politicians, managers, clinicians, and public that, while changes in financial management of health services may help to improve environment in which care is provided, financial measures do not address underlying issues of effectiveness, appropriateness, and humanity of care. Leading for Health: a BMA Agenda for Health emphasises crucial importance in working to improve health by identifying and measuring problems and monitoring new ways of dealing with them.1 The need for a shift in approach was recognised by, among others, Arnold Relman, when he wrote in 1988 of dawn of the era of assessment and account? ability2: We can no longer afford to provide health care without knowing more about its successs and failures. The Era of Assessment and Accountability is dawning at last; it is third and latest?but probably not last?phase of our efforts to achieve an equitable health care system, of satisfactory quality, at a price we can afford. If this approach is to succeed a widespread change in attitude on part of medical profession will be required. There needs to be a far greater acceptance of current uncertainties in medical practice, combined with wholehearted support for evaluative research. Without this it will prove impossible to place health service on a firm, scientific base. This does not mean, as defenders of uncertainty are prone to suggest, that art of medicine is to be sacrificed but rather that wherever possible scientific evidence should be able to be marshalled to suggest that care being provided is effective. The new era can be achieved only through, firstly, an expanded programme of health services research; secondly, medical audit to ensure research findings are adopted in clinical practice; and, thirdly, education to change some well established professional attitudes towards medicine.

Stress and Unemployment in Rural Nonfarm Couples: A Study of Hardships and Coping Resources

This study was designed to explore effects of unemployment on stress with rural nonfarm families. Specifically, relationships were analyzed among increases in financial management, increases in financial arguments, and coping resources on stress. Eighty-eight husbands and wives (44 couples) participated in the study. The study determined that increases in financial arguments are more predictive of stress than actual changes in financial management, especially for wives. Avoidance coping was predictive of stress and mediated the relationship between financial arguments and stress for both husbands and wives. Implications for counselors and educators are discussed.