Financial Management Education Research Articles

Financial Management Training and Education Implementation in Elevating Low Income Family Empowerment

This research aims to explores the implementation of financial management training in empowering low-income families in Kabupaten Cianjur. Using a qualitative approach and a case study method, data was collected through in-depth interviews, observations, and document study. The informants in this research consists of a training manager, a training resource person, and 10 trainees. The findings provided a holistic view of the training's implementation and outcomes. Data analysis involved coding, theme identification, and interpretation to extract meaningful insights. The findings highlight the importance of expert involvement, tackling financial misconceptions, and the use of effective pedagogical strategies for comprehensive understanding. The positive reception from participants and observed behavioral shifts emphasize the tangible benefits of the training. The study concludes by emphasizing the critical role of financial education in fostering genuine, sustained financial empowerment among low-income populations.

Financial Management Education in Traditional Cake Entrepreneurship Under The Share of The Diamond Cooperative in Pisangan Village, South Tangerang

The main problem in Small, Micro, and Medium Enterprises (MSMEs), one of which is limited capital. Difficulties in obtaining loans or other external capital are partly because MSMEs do not have financial information that is accountable, transparent, has integrity, and is in accordance with Financial Accounting Standards. Apart from that, business financial management is still mixed with household finances, and the lack of knowledge regarding product cost calculations means that MSME products often have higher prices compared to imported products. Community service activities are carried out in collaboration with the Berlian Cooperative in the South Tangerang Region which is engaged in savings and loans and selling traditional Betawi cakes. The aim of this community service (PKM) is to provide education regarding business financial management and mechanisms for calculating costs and product selling prices based on cost accounting. The implementation method is in the form of lectures and simulations of calculating product costs and recording simple financial reports. The results of PKM activities show that the results of questionnaires distributed at the pre-activity stage show that this MSME group still has problems related to business bookkeeping and proper financial management so the average MSME actor in this group still does not know the exact amount of income and costs, and the profits generated from their efforts. Based on this, it is necessary to carry out further training and assistance related to financial management and literacy in banking and non-banking financial services so that MSME players can develop their businesses.
 Keywords: MSMEs, Financial Governance, Production Costs, Selling Prices

Education on Personal Financial Management for the Generation Z Personal Fianance Management Education in Tanjung Duren Village, Jakarta

The young generation is the driving force of a country's economy, such as Indonesia, based on the 2020 population census of 279.2 million people, where the proportion of generation Z reached 27.94%. Where as many young people as Gen Z must be equipped with good financial literacy through financial management knowledge that supports the nation's progress. Universities play an important role in helping society, especially generation Z, by providing financial management education. The contribution of universities plays an active role in helping generation Z understand how to manage their finances effectively. Apart from fulfilling their academic duties, universities also play an active role in applying their professional expertise in the field of economics.The main aim of this community service is to equip generation Z with the importance of financial literacy so that they can use financial resources more optimally amidst very diverse and tempting promotions and consumption offers. Community engagement activities in the Tanjung Duren area of ​​Jakarta, where the majority are generation Z, will be carried out through seminars that focus on long-term financial planning, expenditure analysis and debt management.

Practices and Insights of Digital Transformation in Financial Management Education at Private Universities

This paper aims to explore the practical experiences and insights gained from digital transformation initiatives in financial management education at private universities through case studies. The widespread application of digital technology in the field of education is profoundly altering conventional teaching methodologies. By conducting thorough investigations into the digital transformation endeavors within financial management education at various private universities, this study compiles the key success factors evident in effective cases, such as collaborative efforts among faculty members and increased student engagement. Moreover, valuable recommendations are drawn from these experiences, including suggestions to enhance teacher training and optimize course content. These practical insights and lessons have significant implications for similar disciplines and contribute valuable guidance to the process of digital transformation within higher education institutions.

Research on the development of undergraduate financial management education under the background of digital intelligence

Under the influence of digital intelligence, the development of emerging technologies such as cloud computing and big data has led to the reform of financial work. The change of real financial practice will inevitably require financial management education to respond to the new requirements of development. This paper analyzes the present situation and existing problems of undergraduate financial management education through literature research and case analysis, and puts forward some measures and suggestions for further improvement of undergraduate financial management education under the trend of digital intelligence development in combination with the development law of higher education.

Sosialisasi Manajemen Finansial Untuk Meningkatkan Efektivitas Pengeluaran Penerima Manfaat Bantuan Sosial PKH Warga RW 7 Kelurahan Pacarkembang Kecamatan Tambaksari Kota Surabaya

The Family Hope Program (PKH) is a conditional cash assistance program aimed at alleviating poverty in achieving family welfare. The sub-district of Pacarkembang, Tambaksari District, is a target object for recipients of financial management education to optimize control over the use of social assistance. The formulation of the problem studied is the use and strategy of financial management in increasing the effectiveness of spending for PKH beneficiaries in Pacarkembang Village, Tambaksari District, Surabaya City. The goal is to find out effective strategies in financial management. This study uses a qualitative approach, namely research that intends to understand the phenomenon of what is experienced by research subjects and data collection in this study uses the method of observation, socialization and documentation during socialization. Overall, the results of assistance and socialization regarding financial management for PKH beneficiaries have a significant effect on the effectiveness of the use of social assistance. Based on a business view, financial management has a good influence and change for people who are able to implement it. So that PKH social assistance beneficiaries can see the effectiveness of its use.

Improving small and medium‐size enterprise performance: Does working capital management enhance the effectiveness of financial inclusion?

AbstractGrowth of the small and medium‐size enterprise (SME) sector is traditionally an important driver of overall economic growth, particularly in emerging economies. SME growth is enhanced by access to finance (financial inclusion). In this study, we show that efficient working capital management has a positive influence on performance that is independent of the effect of financial inclusion. Our results remain robust to alternative measurements and estimations, and may be useful to national policy‐makers in developing strategies for SMEs' greater access to finance and introducing ways of improving financial management education and training for SME managers.

The Nexus between Employee Assistance Programs and Organizational Commitment

An essential tool for helping employees deal with personal issues that can affect their dedication at work is the employee assistance program (EAP). Consequently, this study examined the nexus between employee assistance programs and organizational commitment of some selected banks in warri metropolis, Delta state, Nigeria. The study used a sample of one hundred and eighty four (184) employees from the population as the study participants. A total number of one hundred and seventy five (175) questionnaires were fully completed and retrieved. The study utilized correlation coefficients and regression analysis. Microsoft excel software was also used to create tables and perform data entry. Findings revealed that there is an insignificant effect of employee assistance programs (counseling programs, wellness assistance programs, financial management education programs) on organizational commitment.

PELATIHAN MANAJEMEN KEUANGAN UNTUK MENINGKATKAN KAPASITAS PELAKU UMKM DI KELURAHAN PADDUPPA KECAMATAN TEMPE KABUPATEN WAJO

The SMEs peddled their business in the Container Village by the Padduppa Village Government, Tempe District, Wajo Regency. Kampung Container located on the Cenrana River Street is a place designed by the government so that it attracts all culinary connoisseurs and a place to relax for visitors who want to enjoy the beauty of the coast of Lake Tempe and the Cenrana River Flow. The MSMEs are domiciled in Padduppa Village, facilitated by the government to increase their productivity and business results. These MSME actors have been active in their business since 2018. But in financial management but still minimal and still manually so that sometimes the SMEs are difficult to manage their finances, addressing the development of the business of MSMEs in the Padduppa Village who are increasingly advanced and crowded by visitors so that they really need knowledge about regulating business finances so that SMEs continue to exist in his efforts without being burdened with financial problems and can be managed professionally for the welfare of MSME actors. The purpose of financial management education for SMEs is (1) MSME actors can maximize profits with The right decision (2) Utilization of the right and optimal money so that efficiency is maintained. (3) Efficiency so that financial distribution is appropriate in all aspects or financial control, this activity is carried out on Thursday, May 12, 2022, at the Padduppa Village Office Hall, Tempe District, Wajo Regency. The results obtained are (1) MSME actors are able to plan, regulate, direct, and supervise financial activities such as procurement and utilization of their business funds (2) MSME actors are able to estimate the needs and composition of capital (3) the level of participation of MSMEs is quite good, so The activities carried out can provide an overview of the benefits of financial management such as determining investment appropriately

Pharmacy Students' Attitudes and Perceptions toward Financial Management Education.

(1) Background: Pharmacy-related financial management training and education are an integral part of the pharmacy curriculum. This study aims to evaluate pharmacy students’ perceptions toward financial management education, their attitudes on its clinical relevance, and their ability to use financial management knowledge in introductory and advanced pharmacy practice experiences. (2) Methods: An online survey was sent to third- and fourth-year pharmacy students. The survey assessed the following three themes: perceptions toward financial management education; attitudes toward the clinical relevance of financial management education; and the student’s ability to use knowledge of financial management in practice. Descriptive statistics were used to summarize the data. (3) Results: The overall response rate for the survey was 60% (139/233). Overall, the study showed a positive perception and attitude toward financial management education. Results indicate that pharmacy students were confident in their ability to use financial management knowledge in pharmacy practice. (4) Conclusions: This survey found an overall optimism in financial management education’s role in pharmacy practice and the ability to obtain financial management competencies in professional pharmacy training. With the evolving practice requirements, pharmacy schools should adapt their financial management curricula with relevant skills to prepare students to become effective entrepreneurs, innovators, and practice leaders.

Essential skills for public budgeting and financial management

ABSTRACT This study provides an update on the major topics covered in the required, core public budgeting and financial management courses offered by NASPAA accredited programs in the U.S. and explores how NASPAA competencies are addressed in these courses. Based on a survey of 39 NASPAA accredited programs and a content analysis of 60 course syllabi, this study finds that public budgeting and financial management courses still focus on budgeting, which has not changed since the 1980s. In addition, with no curricular guidelines to benchmark the public budgeting and financial management curriculum, programs are left to interpret and assess NASPAA competencies in their courses and there is a significant variation in how they are assessed. The study concludes with a call for more research on budgeting and financial management education.

Survey-based Evaluation of Resident and Attending Financial Literacy.

IntroductionPhysician finances are linked to wellness and burnout. However, few physicians receive financial management education. We sought to determine the financial literacy and educational need of attending and resident physician at an academic emergency medicine (EM) residency.MethodsWe performed a cross-sectional, survey study at an academic EM residency. We devised a 49-question survey with four major domains: demographics (16 questions); Likert-scale questions evaluating value placed on personal finances (3 questions); Likert-scale questions evaluating perceived financial literacy (11 questions); and a financial literacy test based on previously developed and widely used financial literacy questions (19 questions). We administered the survey to EM attendings and residents. We analyzed the data using descriptive statistics and compared attending and resident test question responses.ResultsA total of 44 residents and 24 attendings responded to the survey. Few (9.0% of residents, 12.5% of attendings) reported prior formal financial education. However, most respondents (70.5% of residents and 79.2% of attendings) participated in financial self-learning. On a five-point Likert scale (not at all important: very important), respondents felt that financial independence (4.7 ± 0.8) and their finances (4.7±0.8) were important for their well-being. Additionally, they valued being prepared for retirement (4.7±0.9). Regarding perceived financial literacy (very uncomfortable: very comfortable), respondents had the lowest comfort level with investing in the stock market (2.7±1.5), applying for a mortgage (2.8±1.6), and managing their retirement (3.0±1.4). Residents scored significantly lower than attendings on the financial literacy test (70.8% vs 79.6%, P<0.01), and residents scored lower on questions pertaining to investment (78.8% v 88.9%, P<0.01) and insurance and taxes (47.0% v 70.8%, P<0.01). Overall, respondents scored lower on questions about retirement (58.8%, P<0.01) and insurance and taxes (54.7%, P<0.01).ConclusionEmergency physicians’ value of financial literacy exceeded confidence in financial literacy, and residents reported poorer confidence than attendings. We identified deficiencies in emergency physicians’ financial literacy for retirement, insurance, and taxes.

TINGKAT PENDAPATAN NELAYAN PENANGKAP IKAN KURISI SELAMA PANDEMI COVID-19 DI KAMPUNG PARA I KECAMATAN TATOARENG KABUPATEN KEPULAUAN SANGIHE

This study aims to analyze at the income level of fishermen in Para I Village during the Covid-19 pandemic, and look at the marketing flow and marketing margins of Threadfin bream in Para I village. This research can be input to the Government in improving the welfare of fishermen amid Covid-19 pandemic. This research was conducted in Para I Village, Tatoareng District, Sangihe Islands Regency in March – May 2021. The methods used in this study were qualitative and quantitative ones. Data collection was carried out through direct observation and interviews with local fishermen, while maintaining health protocols. The income of threadfin bream fisherman per week in Para I Village ranges from IDR 500,000 - IDR 3,000,000 depending on weather condition. The marketing of threadfin bream and other demersal fish belongs to an efficient one. During the pandemic, fishermen's income decreased slightly because they could not bring their catch to be sold to Tahuna city or Dagho Fishing Port. However, there are also traders who come directly to buy fish on Para Island. Income decreased to IDR 500,000 per week during the pandemic. However, this condition only lasted for 2-3 months, but then their income returned to the normal. The strategy taken by fishermen to deal with the income decline during the pandemic is to process their catch into salted fish that can be sold or stored as food reserves for their households. The government can help organize Financial Management Training and education about business opportunities in the fisheries sector.

BUSINESS FINANCIAL MANAGEMENT EDUCATION DURING THE COVID-19 PANDEMIC FOR PASAR RAYA STREET VENDORS IN SALATIGA

This community development activity aims to provide education on business financial management to street vendors at Pasar Raya in Salatiga City. During the Covid-19 pandemic, the government implemented regulation on Community Activity Restrictions, which resulted in the Pasar Raya being empty of visitors, resulting in a drastic drop in sales for street vendors. Most street vendors do not understand business financial management and have a debt to meet their primary needs. Education is carried out by identifying problems, formulating approach methods, planning work procedures, and conducting business financial management education. In addition, it is also directed to avoid debt on online loans that do not have official permission and get used to saving. After this education is carried out, street vendors better understand business financial management, will no longer be in debt on online loans that do not have official permits, try to save money to become bankable business actors for business continuity in the future.

Application of Personal Information Cash Flow (APIC) - Based Financial Practice Innovation as a Pillar of Financial Education

This research was conducted to prove that APIC-based financial learning practices can improve financial literacy, which also has a positive effect on inclusive financial management education. The grand theory used in this research is Behavioral Finance Theory. The sample of this research used an error rate of 5%; therefore, the sample obtained amounted to 347 people. This study used the design of R&amp;D and also the design of media applications. The study was conducted using a mixed-method. Data analysis techniques used: 1) data eligibility test, 2) t-test through one-way ANOVA analysis and 3) simple regression. The results showed that: (a) the APIC work system that was developed had met the material and media validity requirements, (b) APIC-based financial learning practices were able to increase financial literacy, and (c) APIC-based financial literacy had a positive effect on the level of inclusive financial management.

Financial literacy and awareness of investment scams among university students

PurposeThis study aims to examine the relationship between budgeting skills and financial goals and the level of awareness of investment scams among university students.Design/methodology/approachAn online survey was administered to university students in Malaysia. A total of 211 responses were received. The data was analysed using partial least square method based on structural equation modelling technique by using SmartPLS-3.0 and SPSS-20 statistical software.FindingsFindings indicated that having adequate budgeting skills can significantly affect awareness of investment scam among students. This implies that early financial management education among students should focus on instilling disciplined budgeting habit to prevent them from becoming victims of investment scams. Nevertheless, when examining financial goals among the respondents, the study found that having a clear financial goal does not significantly contribute to their awareness in identifying investment scams. As such, students need to be properly guided in setting their financial objectives such as avoiding unrealistic goals to lead a luxurious lifestyle using “fast and easy” money.Social implicationsThis study recommends that higher education institutions need to work together with relevant regulators and law enforcers in providing necessary financial literacy education as part of the investment scam prevention measures.Originality/valueThis study contributes to the literature gap on the need to focus on financial literacy in creating awareness towards investment scams among university students.

Impacts of COVID-19 on the U.S. restaurant industry from the global perspective

The current study explores the impact of COVID-19 on the U.S. restaurant industry in terms of its stock performance, and further incorporates a global perspective into this examination by testing both the main and moderating effects of non-U.S. COVID-19 and also the moderating effect of the internationalization strategy of the U.S. restaurant industry. Findings of this study confirm that U.S. COVID-19 had a negative influence on U.S. restaurant firms’ stock returns while non-U.S. COVID-19 had a positive impact. Further, the non-U.S. COVID-19 had a positive moderating effect on the relationship between U.S. COVID-19 and restaurant firms’ stock returns. Unexpectedly, the study finds that U.S. restaurant firms’ internationalization strategy does not moderate the negative impact of U.S. COVID-19 on restaurants’ stock performance. Practical implications and suggestions for future research are also discussed. © 2021 International Association of Hospitality Financial Management Education.

Analysis on the Problems and Countermeasures of Contemporary College StudentsA Consumption Behavior

At present, the problems existing in the consumption behaviors of college students have become an important factor affecting their healthy development. Therefore, it is necessary to help college students set up the correct consumption view, guide them to have scientific consumption behaviors, practice thrift and oppose waste in college students' life with effective countermeasures. Based on the analysis of the consumption behaviors of college students' basic living consumption, learning consumption, entertainment consumption, and interpersonal communication consumption, starting from the existing problems, this paper puts forward some countermeasures, such as optimizing the living environment of college students, cultivating the correct consumption concept of college students, integrating financial intelligence education into ideological and political education, and developing financial management education in general elective courses.

Domestic tourism in poland: State, development, and prospects before and during the covid-19 pandemic

The aim of the study was to show tourist movement in Poland and its importance in the tourism and national economy. The analysis of the results confirms a several-year trend of further increases in the number of arrivals for both foreigners and foreign tourists. In parallel to the positive trend in terms of the number of trips, unfortunately a decreasing trend is observed in the level of average spending of tourists and one-day visitors. Therefore, total revenue from inbound foreign tourism in 2019 (calculated in PLN) increased by 2.9% compared to its level from the previous year. Tourism, including foreign tourism arrivals, affects economic development, mainly due to the multiplier effect. The huge problem for the Polish tourism sector was the COVID-19 pandemic in 2020. The aim of the article is to illustrate the impact of the pandemic on the tourism sector in Poland, especially domestic travels, and to provide information on which types of tourism were more resistant to the COVID-19 pandemic situation. © 2021 International Association of Hospitality Financial Management Education.

Strengthening Family Resilience through Financial Management Education in Facing the Covid-19 Pandemic

The spread of Covid-19 in a short time paralyzed the order of life as well as had a real impact on social and economic aspects. Mitigation and preparation for household economic recovery are the contributions of social science that are used as the basis for policy change for the Indonesian nation. Households are at the core of the nation's economic resilience. The household is a unit of analysis that cannot be ignored considering that this country cannot have high resilience when the household cannot survive properly. This research is aimed at examining how the economic impact of households in the midst of the Covid-19 pandemic and how the solution focuses on the accuracy of household financial management.