Financial Management Concepts Research Articles

DEVELOPMENT OF THE VALUE BASE MANAGEMENT CONCEPT AND ITS ROLE IN MAXIMIZING THE VALUE OF THE CORPORATE ENTERPRISE

The purpose of the study is to critically review and summarize the main world approaches to building Value Base Management and to substantiate, on this basis, recommendations for its implementation in the domestic practice of financial management. The article describes the evolution of VBM development and conceptual approaches to corporate enterprise management. The objective necessity of transforming approaches to the management of corporate enterprises from traditional financial models to value-based management is substantiated. It is established that VBM is not only one of the main directions of improving the efficiency of management decisions, but also has a significant impact on the value of a corporate enterprise in the long term. The article proves that the use of the value-based concept of enterprise financial management implies the selection of appropriate methods and tools at all levels of management aimed at sustainable value reproduction. 
 The article considers the process of transformation of the VBM concept and its main elements. A comprehensive analysis of the main approaches and models to business valuation is presented. A comparative characterization of VBM and the traditional approach to corporate enterprise management is systematized and provided. 
 The generalization of the economic content of management theories has allowed to substantiate that VBM differs significantly from the previously accepted management criteria and is a more effective concept of equity management than other systems. It should be borne in mind that the value of an enterprise, on the one hand, is an indicator of its sustainable development, and on the other hand, it is a regulator of value distribution for various participants in economic relations, so, of course, the management mechanism should focus on the key factors of value creation

ANALISIS KEUANGAN PUBLIK SYARIAH TERHADAP PENGELOLAAN ANGGARAN DAN PENGELUARAN PEMERINTAH DAERAH KULON PROGO

Management of regional budget and expenditure of Kulon Progo is the authority of regional governments and must be adapted to the conditions of regional communities. Financial management of a region has been taught in Islamic law since the time of the Prophet. The concept of regional financial management based on Islamic law must apply the principles of justice. The Kulon Progo Regency government is known to be the district with the smallest financial income/revenue among other districts in Yogyakarta. With small financial revenues, the government still has to distribute regional finances fairly. Therefore, this research aims to analyze the management of regional income and expenditure budgets in Kulon Progo Regency from an Islamic Public Finance Perspective for the 2022-2023 Period. The research method used descriptive qualitative analysis. The data source is primary data obtained from interviews with the local government of Kulon Progo Regency and several community representatives. The research results show that the stages of drafting the Kulon Progo Regency APBD draft are in accordance with the Processing Stage based on the provisions of law number 12 of 2019 concerning regional financial management. The process of tax revenue and regional expenditure determination in Kulon Progo has implemented Islamic public finance principles presented by Umar Chapra.

EFFICIENCY OF FINANCIAL RESOURCE MANAGEMENT AS A COMPONENT PART OF THE FINANCIAL POTENTIAL OF AN ENTERPRISE

The article defines ways to increase the efficiency of financial resources management as a component of the financial potential of an enterprise. The algorithm proposed in the study for building a system for managing the financial resources of an enterprise is based on the processes of identifying a problem, analysing and finding ways to solve it, monitoring results, and determining prospects for adjusting management processes in the future, which allows not only to implement management mechanisms but also to carry out further control of their effectiveness and to introduce corrective influences into the system of managing financial resources at an enterprise. In the course of the study, we defined the concepts of financial resources and financial potential by analysing the theoretical approaches of various authors. Additionally, the author formulated a comprehensive definition of financial resource management. The article reviewed the groups of classifications of financial resources. Furthermore, the research determined methods for effective financial resource management, providing characterisations of each one from the point of view of the mechanisms of its practical implementation. The study culminated in establishing an algorithm for building a system for managing a company’s financial resources. It revealed the concepts of ‘financial potential’ and ‘financial resources’ to be interdependent and mutually complementary. As a result of the analysis, we concluded that the structure of financial resources consists of the sum of money within the analysed economic system. As an economic system for determining the processes of managing financial resources, you can choose both the level of individual households or subjects of economic activity (enterprises of various forms of ownership) and consider financial resources at the mesoeconomic and macroeconomic levels: municipalities, regions or territories, states, and international institutions. The article offers a systematic approach to defining the concept of financial resource management. Therefore, the management of financial resources is a system of management mechanisms used to implement the functions of planning, organisation, monitoring and control, and regulation of financial resources to ensure the strategic goals of developing a business entity and its competitive advantages in the market. Keywords: financial resources, financial potential, management methods, management of financial resources.

The Application of Financial Management Concepts in Cafe Selection Decision Support Systems Using the SAW Method

A Cafe is a place to eat and gather with a more comfortable atmosphere, there are many cafes that exist and are developing in Seruyan district, giving rise to an increase in the economy and the government is expected to be able to help cafes in the Seruyan area, most cafes are managed by young people so that it can have a positive impact if they are in provide support from the government.
 Therefore the researcher created a decision support system to help related parties to choose the best cafe. This decision support system is designed to provide an objective picture of the cafes in Seruyan.
 The method used in this study is the SAW (Simple Additive Weighting) method, which is an SPK method used to select various objects that are used as the best alternative from the many existing alternatives, with the criteria used namely location, atmosphere, menu, price, service and cleanliness.
 With this decision-making system, it is hoped that it can help several parties, such as the tourism office and also the UMKM and industry cooperative services to become a source of reference if you want to develop SMEs and businesses in Seruyan District

Financial literacy, self-control, self-esteem, and credit card utilization

This study combines one personal financial management concept, money-related literacy, and psychological ideas, i.e., self-control and self-esteem, in one model to be statistically associated with credit card behavior by utilizing gender as the control variable. Therefore, this study investigates and analyses the effect of financial literacy, self-control, and self-esteem on credit card usage. Furthermore, this study employs 120 bank employees as samples, taken by a snowball sampling technique. Besides, this study surveys their perspective based on the close-ended questions in the questionnaire. After obtaining their responses, their validity and reliability are verified. Also, the goodness-of-fit model is detected. After the model fits the data, the structural equation model based on covariance is utilized to examine the causal relationship declared in the proposed hypotheses. After checking them, this study concludes that financial literacy, self-control, and self-esteem successfully create credit card utilization. Employees with strong financial literacy, self-control, and self-esteem are responsible for owning credit cards because they tend to use them less and pay their bills on time. Females have a positive propensity for credit card utilization to achieve their identity and emotional status. As an implication, the study recommends females instantly convert their transactions into installments and pay the bill in the maximum and minimum ranges to avoid a decrease in credit scores. Besides, internal and external marketing is needed to attract female employees working at similar banks or other banks that cannot issue credit cards.

Money talks

It is not too soon to introduce early years children to the concept of financial management, finds Annette Rawstrone

Pengoptimalan Manajemen Wakaf Produktif Dalam Mendorong Terwujudnya Sustainable Development Goals (SDGs)

The purpose of this community service is to increase students' understanding, skills, and participation in managing productive waqf as an instrument for achieving sustainable development. The training was held at the Unwaha Jombang and IAIN Kediri campuses, involving a total of 80 participants. The methods used in this training include delivering relevant materials, case studies, group discussions, field practice, and visits to productive waqf institutions. During the training, participants are given an in-depth understanding of the concepts of productive waqf, financial management, reporting, and evaluation. They are also involved in field practice to apply the knowledge they have acquired to actual productive waqf management. The evaluation results show that this training succeeded in increasing participants' understanding of productive waqf and the importance of the role of students in pushing for the realization of the SDGs. In addition, participants also develop practical skills in managing waqf assets and formulating sustainable business plans. This training also encourages collaboration and networking between students, lecturers, and related institutions to create synergies in the development of productive waqf.

Using of Some Concepts of Financial Management in the Evaluation of Objects of Financial Accounting

The concept of the time value of money and the effective interest rate are systemically important in the framework of financial management. In this regard, it is strange that the provisions of these theories are still minimally used within the framework of the information support system for the management decision-making process — financial accounting. The article discusses the main areas in which discounting and value accumulation procedures are currently used in financial accounting, calculations based on the effective interest rate are used. The content of Russian and International accounting and financial reporting standards, which regulate the relevant issues, is analyzed. The conclusion is substantiated that using of existing developments in the framework of financial management in financial accounting is clearly not enough. Suggestions are made on potential directions for the implementation of relevant practices in financial accounting. A hypothesis is put forward about the need to use universal methods for evaluating objects of financial accounting based on the concept of the time value of money. A methodology for such evaluation is proposed.

Research on the innovation path of corporate financial management based on improved Adaboost regression algorithm and analysis of management effectiveness

Abstract The first part of this paper investigates the implementation process of the Adaboost regression algorithm, initializes the training set weights to obtain the weak learner, and builds the final strong learner. Then, we explore the treatment of corporate financial management concept drift by assigning variance weights to financial data samples according to their temporal proximity to solve the problem of financial concept drift. Then, an optimized AdaBoost-SVM model is constructed to initialize the sample weights according to time and sample category, calculate the classification error, and build a weak classifier and a decision classifier based on the samples. Finally, the company's financial management costs, personnel, and model prediction accuracy were analyzed. The model predicts financial distress with a 78% accuracy, financial insolvency with a 93% accuracy, and financial normalcy with a 90% accuracy. This confirms the feasibility of this paper's methodology for corporate financial management.

Empirical Test of CAPM Model in Stock Market

The rapid development of the economy has brought about the continuous accumulation of personal assets, and at the same time, the concept of financial management is rapidly budding and spreading. People's rapidly expanding consumer desire makes stocks, funds, and other products more appealing, leading them to prefer the financial route. However, stocks and funds need investors to bear certain risks, generally speaking, the greater the risk, the more lucrative the investment returns. The CAPM model was born for this reason, and its main content is the relationship between yield and risk and equilibrium pricing. The application of the CAPM model in the stock market has always been the focus of attention. As a core part of the stock market, the banking sector has an inseparable relationship with finance. Therefore, this paper selects eight stocks of banks with long listed times and top market capitalization rankings, conducts empirical analysis on their trading data from 2018 to 2021, and employs the time series detection method to test whether the single factor CAPM model is effective in the Chinese stock market.

Basic Financial Management Concepts for Physicians

Some physicians are uncomfortable with the concept of medicine as a business and find it unprofessional to participate in discussions regarding the business aspects of healthcare. Yet the inescapable reality is that medicine is a business that needs good management to be successful. Today, nearly 50% of medical schools offer combined MD/MBA degrees. As a result, recent medical graduates are better informed about the business component of healthcare.

Financial Literacy and Love of Money Attitude toward Financial Management

Purpose – This study aims to determine the effect of financial literacy and attitudes love of money to financial management based on economic entity concept in UKM IKM Nusantara, Palembang City.Methodology/approach – This research is quantitative descriptive. The population in this study were 300 SMEs (Small Medium Enterprise) that are members of UKM IKM Nusantara. The sampling technique used is method purposive sampling and the criteria used in the study were SMEs that had joined as members of UKM IKM Nusantara for at least 3 years. The samples obtained in this study were 50 SMEs. This study uses primary data with data collection techniques using interviews, online questionnaires and observation.Findings – The results of this study indicate that as many as 84% of business actors in UKM IKM Nusantara who manage their finances have not implemented it economic entity concept. Furthermore, financial literacy has a significant positive effect on based financial management economic entity concept, where as love of money attitude does not affect the financial management based economic entity concept. Novelty/value – These findings indicate that SMEs need to have knowledge of financial management, especially based economic entity concept. This concept is a good financial management concept for SMEs to implement, especially in an effort to improve the best financial performance for SMEs.

Fuzzy Comprehensive Evaluation Model of Project Investment Risk Based on Computer Vision Technology

With the development of the economy and real-time embedded systems and the progress of science and technology, people’s economic income forms have undergone tremendous changes, and the concept of financial management has become clearer in people’s property income arrangements. Project investment is one of the most popular financial management methods in the era of big data. Both large enterprise groups and individual petty bourgeoisie groups have begun to pay attention to the risks and benefits brought by the new financial management method of project investment. This paper’s goal is to develop a fuzzy comprehensive evaluation (FCE) model for project investment risk based on computer vision technology and explore the application of computer vision technology in project investment risk evaluation. This article first uses a real-time embedded system to understand the basic process of project investment and select 10 investment experts for risk assessment, risks, and causes of the risks through literature research and case analysis. Then, this paper establishes a model of fuzzy comprehensive evaluation of project investment risk through computer vision technology, real-time embedded systems, and neural network models in big data and artificial intelligence technology to realize the analysis and prediction of project investment risk. The fuzzy comprehensive evaluation method and analytic hierarchy process (AHP) are used in this evaluation model to evaluate and forecast project investment risks. In addition, this paper also trains and tests the risk evaluation model of this research through the support vector machine classification algorithm, the real-time embedded system, and the average random consistency index. The research shows that the fuzzy comprehensive evaluation model of this study has higher accuracy for project investment risk evaluation than other risk evaluation methods. For example, for the investment risk of chemical fiber projects, this research model evaluated the factors such as organization, management, technology, and economy and found that the risks were all higher than 21.36%, which concluded that the overall investment risk of chemical fiber projects was relatively high.

Manajemen keuangan pendidikan berbasis digital: Sebuah kajian pustaka

Purpose − This research is motivated by the importance of Digital-based educational financial management. This study aims to analyze the concept of digital-based financial management. The method used in this research is descriptive qualitative. The purpose of this research is to analyze the concept of digital-based education financial management.
 Method − This research is library research. Researchers collect data from various references such as books, journals, articles, and others. Researchers use data sources. The primary data source is in the form of books on digital-based education financial management. In addition, researchers use secondary data such as journals and scientific articles published in national and international journals. Collecting data with reading and note technique. Data analysis, researchers used Miles and Huberman's interactive analysis techniques, namely: (1) data reduction in the form of summarizing data and selecting data that is relevant to the topic of discussion; (2) data presentation in the form of presenting reduced data; and (3) drawing conclusions.
 Findings − The results of this study include 1) education financial management, 2) principles of digital-based education financial management, 3) implementation of digital-based education financial management. Overall, this research results in a better understanding of education finance management, the principles of digital-based education finance management, and their implementation

Research On the Construction of Financial Shared Service Platform Under the Integration of Industry and Finance

Financial shared service relies on information technology and the background of economic globalization. With advanced financial management technologies and concepts, they are widely used in modern group enterprises. This paper takes CRRC Zhuzhou electric locomotive Co., Ltd. as the research object. The company has formed a financial accounting platform based on the financial sharing service department, and a management accounting professional group with the finance and taxation fund department, business finance department, and overseas finance department as the core. The company's integrated financial sharing service platform has significantly improved the efficiency of employee reimbursement. Through the understanding and analysis of the current financial management model of the Group, the main shortcomings of this model are found out and targeted solutions are proposed.

Efficiency of internal control of state institutions of Ukraine

Introduction. The introduction of a modern model of state internal financial control is aimed at strengthening the responsibility of managers for the management and development of institutions as a whole (managerial responsibility and accountability). Therefore, the implementation and operation of the internal control system is aimed at the economical and efficient use of resources provided by taxpayers for the development and sustenance of Ukraine. The purpose of this paper is to analyse the level of effectiveness and efficiency of internal control of state institutions of Ukraine. Results. The paper provides a legally established concept of internal control. It describes the significance of internal control as a tool of the institution management system. A number of problems of an organizational and legal nature in the field of state financial control are indicated. The division of internal control measures was also carried out depending on the objects of the study: operations control measures; process control measures; document control measures that involve the use of sanctions (permits) for the implementation of an economic transaction which is a mandatory requisite of any primary document; resource control measures aimed at consolidating responsibility for the safety and use of resources, which reduces the risk of their loss or misuse. The paper also lists the activities that may include monitoring of control measures. The concepts of state internal financial control, financial management and control are provided. Typical violations in the system of accounting and internal control of state institutions are indicated, that should be considered when developing proposals and recommendations. Conclusions. Solving problematic issues related to the functioning of the internal control system in state authorities is only possible by introducing new modern approaches to its organization, reconsideration of control not as means of preserving the resources of a budgetary institution, but as a tool for managing these resources, reducing various risks of illegal, inefficient and ineffective use of them. At the same time, efficient changes in the internal system cannot be achieved only through legal norms, regulatory documents and instructions.

PENYULUHAN MANAJEMEN KEUANGAN PADA KELOMPOK MASYARAKAT CINA BENTENG SEWAN RAWA KUCING

Financial management plays an important role in the business development of MSME actors. One of the basic financial management that needs to be understood by business actors is managing finances properly and correctly. This Community Service activity is carried out to assist in improving the financial management of community financial literacy, especially MSMEs in Sewan Rawa Kucing Tangerang. The method of implementation is in the form of material distribution, lectures, and discussions/debriefings which are conducted offline. The conclusions obtained from this activity show that most MSME actors and the community in Sewan Rawa Kucing still have a low level of financial literacy, however, after carrying out this community service activity, participants' knowledge of the basic concepts of financial management has improved.

VILLAGE GOVERNMENT IMPLEMENTATION BASED ON LAW NUMBER 6 OF 2014

The purpose of this research is to find out how the village government functions in carrying out village autonomy. Based on Law no. 6 of 2014 concerning Village Autonomy and how the concept of village financial management is based on Law no. 6 of 2014 concerning Village Autonomy. This study uses normative legal research methods so that it can be concluded: 1. The government and BPD are village administrations that have a very important role in administering village governance. With the existence of Law Number 6 of 2014 in its implementation it reflects village genuine autonomy, democratization, participation and diversity as the foundation of village thinking. The village government is the village head and village apparatus as elements of village administration. Meanwhile, village officials consist of a village secretariat led by a village secretary, field technical implementers and regional elements adapted to the needs and conditions of the local region. 2. The concept of village finance is almost the same as the concept of state finance, carried out through the Village Revenue and Expenditure Budget mechanism, which consists of the village revenue, expenditure and financing sections, which are carried out by the Village Head and his apparatus which are discussed jointly with the Village Consultative Body. Village financial management has juridical implications for the Village Head and the Village Consultative Body to be able to compile, authorize, implement, supervise and be accountable for village financial management. If there is negligence or intentional action, it will result in accountability both administratively and criminally. Regency/City Governments are obliged to allocate a budget for village finances, as well as provide guidance and supervision.

Analysis of the Impact of Third-party Payment on Currency Demand

With the rapid popularization of mobile Internet, mobile offline third-party payment has penetrated into all aspects of daily transactions, and has a profound impact on people's consumption habits, payment methods and original financial management concepts. According to the view of network economy in microeconomics, the growing third-party mobile payment has produced considerable positive network externalities. With the continuous expansion of payment scope, payment objects have produced economies of scale, and marginal costs have fallen, thus obtaining considerable competition. force. As the direct target of third-party mobile payment, cash is inevitably replaced. Previous researches usually focused on macroeconomic indicators such as currency creation multiplier and cash leakage rate for mobile payment for macro analysis. This article will analyze the corresponding changes in different types of currency demand under the continuous impact of third-party payment according to the classification of currency demand levels, and explore the impact of the resulting monetary demand structure and the impact on the role of macro monetary policy.

Research on the Reform and Innovation of Financial Management in Higher Universities under the Double-Class Construction Background: A Case from China University of Geosciences (Beijing)

Under the double-class construction background, the financial management has gradually become one of the most important contents of higher universities. It is the basement of all economic activities in colleges and universities, determines the basic direction of financial management, and is also subject to the overall development goal of colleges and universities. With the transition of the economic system of colleges and universities, the reform of the financial system and the continuous change of the financial management environment, the financial management is facing the challenge of informatization, knowledge and networking, which require colleges and universities to reform the original financial management system and innovate the concept, content and mode of financial management to adapt to the changes of colleges and universities in the new stage. Taking China University of Geosciences (Beijing) as an example, this paper analyses the necessity of financial management reform and innovation, and puts forward several suggestions for reform and innovation of financial management, so as to continuously improve the financial management level of higher universities under the double-class construction background.