Financial Budgeting Research Articles

Optimizing large scale bin packing problem with hybrid harmony search algorithm

Bin packing problem (BPP) is a combinatorial optimization problem with a wide range of applications in fields such as financial budgeting, load balancing, project management, supply chain management. Harmony search algorithm (HSA) is widely used for various real-world and engineering problems due to its simplicity and efficient problem solving capability. Literature shows that basic HSA needs improvement in search capability as the performance of the algorithm degrades with increase in the problem complexity. This paper presents HSA with improved exploration and exploitation capability coupled with local iterative search based on random swap operator for solving BPP. The study uses the despotism based approach presented by Yadav et al. (2012) [Yadav P., Kumar R., Panda S.K., Chang, C. S. (2012). An intelligent tuned harmony search algorithm for optimisation. Information Sciences, 196, 47-72.] to divide Harmony memory (HM) into two categories which helps to maintain balance between exploration and exploitation. Secondly, local iterative search explores multiple neighborhoods by exponentially swapping components of solution vectors. A problem specific HM representation, HM re-initialization strategy and two adaptive PAR strategies are tested. The performance of proposed HSA is evaluated on 180 benchmark instances which consists of 100, 200 and 500 objects. Evaluation metrics such as best, mean, success rate, acceleration rate and improvement measures are used to compare HSA variations. The performance of the HSA with iterative local search outperforms other two variations of HSA.

БЮДЖЕТИРОВАНИЕ КАК ИНСТРУМЕНТ ИПОТЕЧНОЙ КРЕДИТНОЙ ПРОГРАММЫ БАНКА

In market conditions, it is unrealistic to achieve stable success in the banking business, if you do not take into account the role and place of budgeting in the financial planning system, do not constantly accumulate information about your own financial condition and prospects, the state of the banking instruments offered in the service market of this sector of economic activity, the position of the leading players - banking competitors, etc. Budgeting is a necessary tool that helps to highlight the main ways of functioning of an economic entity for a certain time; it serves as a tool to increase the feasibility of various investment ideas. Budgeting in the banking sector allows you to correctly predict what the financial position of a commercial bank will be tomorrow, in a month, in a year, increases the validity of decisions made, and ultimately affects the success of a business. Budgeting for mortgage lending is a tool for controlling bank cash flows, optimizing internal costs, as well as digitizing and planning the activities of divisions. Among the wide variety of loans offered by Russian banks today, special attention from potential clients deserves such type of loans as mortgages to individuals. Almost every major banking structure develops one or more of its own mortgage lending programs. In the article, as a measure to improve the efficiency of the financial planning and budgeting system of the bank in question, it was proposed to expand the operation of the mortgage lending program. A focus on financial goals and indicators, predictability of the result is proposed, which allows making systemic decisions to improve the quality of a mortgage product, based on the plan, forecast and fact on financial indicators.

Factors Affecting Small and Medium Enterprises’ Financial Sustainability in South Africa

The dwindling growth of small businesses and their rate of failure in South Africa has been traced to poor financing. Thus, the factors affecting the financial sustainability of small and medium-sized enterprises in South Africa are examined in this study. Using purposive sampling, data were collected from 310 respondents, however six were incorrectly completed. The analysis was based on data collected from 304 respondents which cut across owners and/or managers from small and medium construction, manufacturing, retail, and agricultural enterprises. A quantitative research design that falls under the positivist paradigm was used. Specifically, through a descriptive and multivariate regression analysis, it was found that financial awareness, budgeting, accounting skills, and access to finance have positive and significant effects on the financial sustainability of SMEs with all the variables, having 0.005 probability values, respectively. Out of all the variables examined, budgeting and access to finance have the largest absolute values of 0.425 and 0.373, respectively. Thus, it was concluded that workshops, training, and seminars to improve the financial literacy of small and medium enterprises should be organised. This will improve owner’s ability to deploy the accounting and budgeting skills and they will be exposed to meeting loan criteria and conditions from financial institutions. Also, adequate funds should be allocated to cater for the regular training and development of small business owners using the services of financial experts.

Improvement of organizational and methodological aspects of financial budgeting on agricultural farms

This article examines the importance and organizational and methodological aspects of financial budgeting on farms. The main, organizational and methodological aspects and main directions of budgeting in farms are shown. Stages of formation of the financial budgeting system, model budgeting model for farms operating in various sectors and stages of financial budgets have been developed, relevant conclusions have been formed, proposals and recommendations have been developed.

The Bureaucratic Political Relation Model in Perception of Officers Public: a Study on Bima City Government

The relationship between politics and bureaucracy is significant to observe because this concerns the interests of policymakers and stakeholders related to the politics of local government policies. In this regard, this study aims to describe the Political Relations Model Bureaucracy in the Perception of Public Officials (A Study at the Bima City Government). The approach in this research is descriptive qualitative. The results showed that the Relationship Model Bureaucratic Politics in the Perception of Public Officials (A Study at the Bima City Government) have interrelated and mutually supportive relationships both in formulating, implement and evaluate policies both political and administration towards the implementation of the public bureaucracy in the Bima City Government. Perception public officials concerning political intervention in carrying out activities bureaucracy are reflected in the process of development, administration, and technique as well as transfer and high employee rotation, institutional restructuring of the Bima City government bureaucracy as well The formulation of the Kota Bima Regional Financial Budgeting always occurs for political intervention interests of both public officials and career officials in running the wheel the government in the city of Bima.

Measuring financial literacy with a Situational Judgement Test: do some groups really perform worse or is it the measuring instrument?

Due to current trends in society and economy, financial literacy is often considered as an important twenty-first century skill. However, regardless of the postulated relevance, studies suggest that financial illiteracy seems to be a widespread phenomenon in the population of many nations. Some studies also show that some groups perform particularly poorly (e.g. women, persons with migration background and/or low level of education). These differences are often attributed to different individual characteristics such as abilities, dispositions or socialisation patterns. However, available research also suggests that even after controlling for them, a quite large portion of the performance differences between the various groups of test-takers remains unexplained. One explanation for performance gaps in financial literacy might be that differences in test scores could also be evoked by the test instruments itself and may thus, at least in part, be interpreted as testing bias. In this paper, we present a newly developed Situational Judgement Test, which is focused on financial competence. For this test, we examine whether differences between groups are attributable to individual differences or due to a test bias. To analyse a possible test bias, we tested one facet of financial literacy (with three factors: control of one’s financial situation, budgeting and handling of money) related to everyday money management for measuring invariance for different groups. If measuring invariance could be assumed, we analysed group differences by calculating t-tests. Results show that two factors of the test show measurement invariance for all groups considered (gender, migration and educational background, opportunities to learn). Group comparisons are thus possible and potential differences are not due to a test bias. For one factor, we can only assume measurement invariance for the group with/without migration background and with/without opportunities to learn in financial topics. When we look at group differences, we find that in contrast to the findings of many previous studies, the analysis of the mean differences does not show any systematic deficits in financial literacy for specific groups.

A Data-Driven Soft Sensor to Forecast Energy Consumption in Wastewater Treatment Plants: A Case Study

Energy consumption is vital to the global costs of wastewater treatment plants (WWTPs). With the increase of installed WWTPs worldwide, the modeling and forecast of their energy consumption have become a critical factor in WWTP design to meet environmental and economic requirements. The accurate and swift energy consumption forecasting soft-sensors are not only supportive to the daily electric and financial budgeting by WWTP practitioners on the micro-scale, but also beneficial to local municipal operation and fundamental to regional environmental impact estimation on the macro-scale. Energy consumption in WWTPs is influenced by different biological and environmental factors, making it complicated and challenging to build soft-sensors. This article intends to provide short-term forecasting of WWTP energy consumption based on data-driven soft sensors using traditional time-series and deep learning methods. Ten data-driven soft sensors, including the ordinary least square, exponential smoothing state space, local regression, auto-regressive integrated moving average (ARIMA), structural time series model, Bayesian structural time series, non-linear auto-regressive, long short-term memory with and without updates, and gated recurrent units have been investigated and compared for WWTP energy consumption forecasting. Energy consumption time-series data from a membrane bioreactor-based WWTP in the middle east is used to evaluate the performances of the proposed soft-sensors. Results showed that ARIMA achieved slightly improved performances, among others. The employment of adaptive deep learning-based soft sensors is expected to enhance the capabilities of the deep models to quickly and accurately follow the trend of future data.

Determinan Kinerja Anggaran pada Organisasi Perangkat Daerah

Budget performance is the basis for evaluating and assessing the quality of financial management and budgeting in government organizations, especially in local government’s agencies. The purpose of this study is to examine the effect of budget size (TB), budget change (PB), and previous year budget variance (VS) on budget performance (KA) at agencies of Gayo Lues Regency. The sample in this study amounted to 44 work units of regional apparatus (SKPD) for fiscal year 2016-2017. Data analysis using multiple linear regression model. The results show that PB has no effect on KA, while TB and VS have negative effect on KA

Financial evaluation of Tadawul All Share Index (TASI) listed stocks using Capital Asset Pricing Model

The Kingdom of Saudi Arabia is strongly committed to stimulating savings culture in the local community by providing financial literacy in financial planning, investments, and budgeting. Inculcating the savings and investment behavior among the people will help materialize one of the elements of Saudi Vision 2030. Tadawul, being the most liquid stock market in the Middle East and North Africa, offers investors the ability to grow their capital with confidence through facilitating trading in different securities such as equities, debt instruments, and Exchange Traded Funds (ETFs). There is a great scope for investors to invest in the companies listed in Tadawul All Share Index (TASI) due to its strong economic fundamentals. The present study aims to apply the CAPM in Tadawul listed stocks, which will help in understanding the systematic and unsystematic risk associated with stocks, understanding their actual and theoretical return on stocks. The methodology adopted is the analysis of secondary data for all listed stocks in Tadawul using the Bloomberg terminal. The financial valuation includes elements like beta, alpha, correlation and standard deviation, expected return and actual return. The practical value obtained from the study will help investors go for undervalued stocks with lower beta, higher expected annual return, and lower systematic risks. Thus, the result shows the predicting power in KSA market and the scope for long-term investments by the investors to boost their savings and investment behavior and materialize one element of Vision 2030. AcknowledgmentThis research was funded by the Deanship of Scientific Research at Princess Nourah bint Abdulrahman University through the Fast-Track Research Funding Program.

Бюджетирование, как способ исполнения стратегии развития на примере ОАО «Консервсушпрод»

The importance and relevance of financial planning and budgeting is increasing every year in the current economic environment. The welfare of the economic entity depends on well-established financial planning and budgeting. Financial planning is one of the main tools for regulating the activities of the business entity. Financial planning and subsequent monitoring of planned tasks allow providing senior management with accurate, complete and up-to-date information on the implementation of measures to achieve the development goals of the economic entity. Budgeting, as practice shows, plays an increasingly important role in the development of any enterprise and in obtaining the highest profits. Effective existence and development of the enterprise is impossible without financial planning of work and supervision of the financial plans of the economic entity. Budgeting reflects the results of planning and control in the form of separate financial data. Budgets develop a strategy for the effective development of an economic entity in a competitive and market-based economy, and it serves as an important tool for achieving its goals. Therefore, the article analyzed possible ways of forming the processes of budgeting and monitoring the activities of the company’s centers of responsibility, identified the components of the company’s targets, as well as the algorithm of introduction budgeting processes into the activities of a particular economic entity.

MANAJEMEN KEUANGAN PEMERINTAH DAERAH KABUPATEN TABANAN

This study aims to find out and analyze how regional financial management and comparison between budget and realization of the performance of local governments in Tabanan Regency. This research was conducted in the local government of Tabanan Regency. Data collection using interview methods and non-participant observation with the analysis technique used is descriptive qualitative. The results showed that local government financial management in Tabanan Regency had referred to Permendagri No. 13 of 2006 and local government performance reports in the last five years, if on average the Tabanan regency government has received the title B, even though in 2014 and 2015 it received the SAKIP score with the title C. Comparison between the budget and the realization of local revenue to the performance of local governments in Tabanan Regency shows that if the budget is greater than the realization caused by several components in the year and vice versa, if the budget is smaller than the realization where the difference can be sources of SiLPA for investment financing in the APBD. Regional expenditure in the last five years shows that the realization is smaller than the budget which is a source of SiLPA and has been efficient.
 Keywords: regional financial management, budgeting and realization, local government performance

Methods of ensuring flexibility of the budget process at holding enterprises of energy industry

Achieving business success for a company is directly related to financial planning, budgeting and analysis of results. Any system is viable if it includes feedback elements that provide an analysis of what the system has done and current adjustments to the system’s behavior as signals about its state. The article deals with the features of the budget process at energy enterprises as part of vertically oriented holding structures. The system formed by such enterprises is very complex, so it is necessary to take additional measures to maintain the efficiency of the budget process in such conditions. Therefore, an important issue is the organization of effective control in the budget execution system to make operational management decisions, which turns it into an effective tool for managing the enterprise. The essence and importance of budget control of energy companies are revealed. The paper deals with the organization of budget planning at an enterprise of the energy industry. Models for budget development and budget execution processes were built and budget limits were adjusted for enterprises using the IDEF0 methodology. The methods of control over the budget execution of energy industry enterprises are considered. The essence and types of the process of adjusting the budget of enterprises are revealed.

The Analysis of Income Statement and Final Balance Sheet in Local Governments: A Case Study for Financial Sustainability

The global financial crisis represents one of the main reasons for the situation suffered by many European countries both at national and local level.
 
 Furthermore, the increased attention given to financial budgeting in the last years highlights the importance for public administrations to learn more about how to measure financial sustainability, how to implement strategies to avoid distress, and how to represent the expected results of these strategies.
 
 We argue that a local government shows good financial conditions when it can provide public services without damaging its ability to face future obligations (GASB, 1987). On the contrary, local governments in poor financial health are unable to deal with their financial obligations and provide public services. Often, in this case, the quality or quantity of these services turns out to be damaged (Raphael, Renwick, Brown, & Rootman, 2010).
 
 It is essential to say that the level of financial condition cannot be easily represented since it cannot be readily measured by a single performance indicator, but rather it is determined by different measures directly observable.
 
 We propose an explanatory case study to analyze the first results obtained through a plan devised to restore a good financial condition through a process of spending review in the municipality of Rome, one of the most important local governments. More specifically, we have analyzed the income statements and the final balance sheets for the years 2013-2017.
 
 We further argue that our case study represents an inspiring strategy for financial sustainability thanks to an ad hoc legislation especially devised to overcome the crisis. Our case study also reveals all critical issues emerged during the analysis of the final data collected in the official documents drafted with accrual accounting across the five years.

A Study of Management Information Systems and Its Effect on Health Management Organizations

The primary focus of a healthcare organization is the promotion of health and the avoidance of disease, sickness, injury, and other impairments of human physical and mental functioning. The health care industry is a service sector. In terms of both income and employment, healthcare has grown to become one of India's greatest industries. Medical case history, resource planning, and hospital server databases are all severely lacking. As a consequence, medical facilities are now more productive and efficient. A lack of proper planning in hospitals has led to subpar decision making in areas like manpower and personnel management, payroll and employee-related applications, hospital billing and recovery, inventory control procurement, planning, and control, expiration date management, resource utilization and analysis, financial accounting, capital budgeting and expense control, and maintenance of service facilities.

Bimbingan Teknis Tata Kelola Keuangan dan Anggaran Berbasis Kinerja Sekolah Tinggi Ilmu Kesehatan (Stikes) Muhammadiyah Palembang

TECHNICAL ASSISTANCE FINANCIAL REPORTING AND BUDGETING BASED PERFORMANCE IN STIKES MUHAMMADIYAH PALEMBANG. The purpose of this technical assistance activity were to provide knowledge and insights related to the financial management and performance based budgeting to the principal and budget user of STIKES Muhammadiyah Palembang and to help compile the work program. This activity was attended by 23 leaders from various levels.Materials that provided were, performance based budgeting, best practices, and financial reporting. The results of technical assistance for performance based budgeting indicate an increase in the ability of participants to develop budgets. Evaluation of the participants showed that they were very enthusiastic about following the activity from beginning to end.

Pengaruh Perkembangan Teknologi Terhadap Cara Mendidik Anak Dan Dampaknya Terhadap Budget Keuangan Keluarga Muslim

The purpose of this study was to determine the effect of the development of technology that is currently facing post truth on how to educate children and their impact on family financial budgets. The research is qualitative and the object of this research is Karangjoho Semarang. This writing method uses a variety of forms such as interviews, documentation, observation and literature review is useful for digging data. Analysis of the researcher uses creative criticism by pacing between methods and literature then concluding. The results of this study are children sholeh sholekah the results of Islamic religious education in the family in the midst of increasingly sophisticated technological developments even faced with the phenomenon of post truth social media internet can not distinguish true or false information, the more dangerous the children and how far the delinquency of the child influences family financial budgeting. Children's education in accordance with Islamic teachings is very important in the midst of rapid modern technology so that their children become human beings and are able to face complex problems in society. The implication of the research is that adulthood and good character in children will produce a comfortable life for parents, then the amount of family financial expenditure will not occur, but vice versa if bad children fall into the dark world of using technology with various forms of delinquency and parents are wrong to educate, then a lot of family financial expenses will be spent.
 KEYWORDS: Technological development, educating children, family financial budget

Intensity of Sales Turnover and Promotional Expenditure and the Likelihood of New Product Success: Configurational Matrix of Fast Moving Consumer Goods (FMCG)

The FMCG marketing phenomenon plays all elements of the marketing mix (4P's), so that each element is thought to have a high degree of complexity. The first objective of this research was to uncover the responses of buyers in the business market to the offering of a new product related to the marketing environment situation - P: promotion and other environments; and next, detecting product performance and its parameters as an evaluation tool for the success of new products. Qualitative research methodology was applied, and was designed using a grounded theory strategy and an interpretative approach, constructivism and pragmatism. Data was collected from the phenomenon of FMCG competition in traditional markets in Indonesia. The results of the research identified buyers' responses reveal that the marketing - promotion environment was directly taken into consideration by purchasing decisions; marketing environment - promotion is valued by the buyer in relation to the marketing environment - price, and the expected impact on the competitive environment - activity and results of promotion. The concepts from the results of this study have implications for the practice of corporate strategies regarding new product launches, marketing and financial budgeting, brand strategy, and marketing market performance. All these matters show that the depth of the purchasing behavior perspective, as well as the performance and success of a product based on promotional strategies is the originality of this paper.

PROSES PERENCANAAN DAN PENGANGGARAN KEUANGAN DESA (Studi Di Desa-Desa Kecamatan Giri Mulya Kabupaten Bengkulu Utara)

This research is a descriptive qualitative research that aims to explain the condition of planning process and budgeting of village finances in the villages of Giri Mulya Sub-district, North Bengkulu Regency. The informants of this research are the village head, village secretary, head of the village consultative body, the empowerment of the village community of Giri Mulya sub-district, and representatives from the community. Data were collected through observation process, in-depth interview and documentation. The results of this study indicate that village planning and village financial budgeting have been outlined in accordance with the prevailing regulations. In terms of timeliness, in determining the work plan of the local government and budget of village income and expenditure, there was a delay due to the lack of human resources quality and the problem of regulatory delays from the district that reached the village head.Keywords : planning and budgeting of village finances, Human Resources, regulatory

Estimation of annual repair expenditure for interstate highway bridges

State-level bridge expenditure forecasts are used by highway agencies for financial need forecasts, long-term planning and budgeting, asset valuation and infrastructure user cost allocation. It has been observed that the levels of normalised bridge expenditure vary widely across the states and across time periods, and therefore, it may be inappropriate to use an average value of normalised expenditure for agencies business processes. Further, there is a need to investigate the underlying causes of this variation so that bridge managers can better estimate their expected costs. This paper shows how aggregate ( jurisdiction-level) bridge data can be used to develop annual maintenance/repair expenditure (Amex) models. In the case study of the paper, data from US states were used, and the Amex was expressed as a function of bridge condition, bridge inventory size, traffic loading and climate severity. The paper quantifies the magnitude of the increase in Amex per unit area due to changes in factor levels that include traffic loading, annual temperature, precipitation and the conditions ratings of the superstructure and substructure. The results indicate that there are significant scale economies in state-level bridge expenditures – for every additional 1000 m2 of bridge deck inventory, the bridge Amex decreases by $0·0916/m2.

An Effective Digital System for Intelligent Financial Environments

A good set of the financial system could take care of all accounting entries and their impacts on the whole intelligent financial environment. The total flow of money and total expenditures will be reflected here. The intelligent financial system can improve the utilization of data, increase the work efficiency of financial personnel, and increase the security of financial processing services. This system could help the managers make their important financial decisions, financial budgeting, and so on. They can know about the financial conditions at any time. Based on the collection and processing of financial data, we design and analyze the related financial system to carry out the intelligent property of the financial environments. The system extends the quality of financial reporting, SOX compliance, and internal controls in a financial system, including credit management, revenue recognition, bad debts allowance. Once there is an early warning in the financial system, our proposed enhanced system could give a fast early response, and bridge a positive linkage about the planning department, finance department, and top managers, which could avoid potential exposure to bad debts. This system guarantees that the credible customers are selected, and avoid the potential risk of bad debts are incurred by a loose credit limit. It strengthens the preventive control over aging receivables management and detects the potential risk of bad debts in the earlier system alert.