Financial Management Functions Research Articles

Challenges encountered by SMMEs in accessing bank credit: a case of Vhembe District Municipality

Policymakers and scholars universally accept and recognize the influence of small, macro, and medium enterprises (SMMEs) on stimulating economic growth and job creation. To succeed and prosper, SMMEs need to establish a sound financial management function; therefore, it is vital to investigate the financial challenges these firms are experiencing. The objective of this paper was, to investigate possible challenges that SMMEs experience when applying for credit from banks. The study sought to answer the main research question - ‘What challenges are encountered by SMMEs when applying for credit from banks? The study adopted a qualitative research methodology. The population used in this research was derived from SMMEs and banking officials in the Vhembe District Municipality area. Stratified random sampling was used to select a sample of 10 research participants. An interview guide was used to gather data from the participants; the data was analyzed using Atlas.ti. The results indicated that most SMMEs in the Vhembe district are not adequately supported, especially in the areas of financial resources, as well as in financial literacy skills and expertise. Specifically, this study identified that the credit application challenges faced by SMMEs are related to - lack of collateral security, lack of financial application education, complex bank credit access regulations, non-satisfaction of banks’ qualifying criteria, as well as stringent credit system, and documentation requirements.

Penerapan Fungsi Manajemen Keuangan Pada Perusahaan CV. Canbe Kosmetik Indonesia

Financial management as an integral part of general management has a crucial role in the survival and growth of a company. In a constantly changing business environment with complex market dynamics, the application of financial management functions is becoming increasingly crucial in determining the direction and financial performance of the company. In this study, the approach used is a qualitative approach, which is a research process and understanding based on methodologies that investigate social phenomena and human problems. This research has a characteristic that lies in its purpose, namely describing, studying and explaining the phenomenon to be studied. Which contains the results of research on CV. Canbe Kosmetik Indonesia, the application of the financial management function is running well as the SOP set by the company. By applying the functions of financial management itself in the form of planning, organizing, directing, coordinating, and supervising.

The integration of financial business and the transformation of financial management functions based on internal control optimization algorithm

The integration of financial business and the transformation of financial management functions based on internal control optimization algorithm

Examining the Impacts of Human Resource Management HRM-Financial Management Alignment: A Qualitative Review of Accounting Literature

This qualitative research explores the implications of aligning Human Resource Management (HRM) practices with Financial Management objectives in organizations. The study aims to investigate the strategic significance of HRM-Financial Management alignment, its impact on organizational performance, and its implications for managerial practice. Through a comprehensive literature review, the research examines existing knowledge, theories, and empirical findings related to HRM-Financial Management alignment. The methodology involves systematic data collection, thematic analysis, and synthesis of literature from scholarly articles, books, and reports. Findings indicate a positive correlation between alignment and organizational outcomes, including financial performance, employee productivity, and innovation. The strategic integration of HRM and Financial Management functions fosters collaboration, communication, and innovation within organizations, enhancing their competitiveness and long-term sustainability. The study underscores the importance of prioritizing HRM-Financial Management alignment as a strategic imperative for organizational success in dynamic and competitive business environments.

The impact of the enterprise financial risk management function on financial performance in Bosnia and Herzegovina

Abstract Adequate enterprise financial risk management (EFRM) represents a leading competitive advantage of enterprises that determines market survival and business success in an uncertain global environment. Over time, EFRM has become a constituent part of integral business dealings of enterprises and one of the strategic functions of enterprise management. The main purpose of the paper is to explore the effects of the EFRM function/system on the financial performance of enterprises in Bosnia and Herzegovina (BiH). The basic source of data in the research was collected by means of a structured questionnaire. The target population in the research consists of large enterprises that have continuously operated in the territory of BiH (2013-2017). The selection of enterprises was made applying a random sampling method and contains 72 enterprises. Appropriate descriptive and inferential statistical methods were used in the data analysis and panel data analysis was used to assess effects of EFRM function on financial performance. The scientific contribution of the paper is reflected in the fact that the research is pioneering for Bosnia and Herzegovina with the analysis of effects of the EFRM function on enterprise financial performance (EFP). The results show that there are no systematic, statistically significant differences between large enterprises that engage in risk management (‘hedgers’) and enterprises that do not engage in risk management (‘non-hedgers’) in BiH.

Analisis Manajemen Keuangan Lembaga Pendidikan Pondok Pesantren : Studi Kasus Pada Pondok Pesantren Darunnajah Bakalan, Suruhan Kidul

This study aims to determine and analyze the financial management applied to Darunnajah Islamic Boarding School Bakalan Suruhan Kidul. This research was conducted using a qualitative approach to the type of case study research. The results of the study show that Darunnajah Bakalan Suruhan Kidul Islamic Boarding School has carried out financial management, although it is still carried out in a simple way, but it has been carried out in accordance with financial management functions which include: 1) planning, 2) implementation and 3) evaluation or reporting. From the results of the analysis of the research conducted, it can be concluded that in the financial management of the Darunnajah Bakalan Suruhan Kidul Islamic Boarding School, budget planning is carried out in consultation with caregivers, ustaz and ustazah and the board of the Islamic boarding school at the beginning of each school year. Implementation of financial management is carried out based on predetermined plans. Evaluation or reporting is carried out at the end of the school year in the form of an accountability report which is then reported to caregivers and senior boarding school officials.

АКТУАЛЬНІ ПИТАННЯ ФІНАНСОВОГО МЕНЕДЖМЕНТУ БАНКІВСЬКИХ УСТАНОВ В УМОВАХ ВОЄННОГО СТАНУ

It is shown that financial management ensures the effective functioning of a banking institution on the market and contributes to its long-term stability. The elements of the financial management system are systematized, the effective interaction of which allows to minimize risks and achieve the set goals, contributing to the stability of banking institutions and their ability to adapt to changes in the financial markets. The objects of financial management of the banking institution, which play a key role in ensuring its effective functioning, have been systematized. It was determined that the financial management of a banking institution covers the traditional functions of financial management and more complex tasks related to the management of banking operations. It has been proven that the management of banking operations directly affects the overall financial stability and success of a banking institution. The financial management process of a banking institution is aimed at ensuring financial stability and its ability to achieve long-term financial goals. It is shown that the mechanism of financial management as an independent system includes a complex of tasks, goals, functions and methods aimed at implementing strategic decisions and achieving set goals. The key functions of financial management of a banking institution are summarized (strategic planning, operational planning, coordination, control, information support, financial reporting, ensuring business activity), which together form an integral financial management system of a banking institution, which allows it to effectively achieve its goals and maintain competitiveness on financial market. It is proven that strategic financial planning should contribute to the creation of a clear vision of the bank’s future development, ensuring its ability to adapt to changes in the external environment and maintain a stable financial position. The processes of current and operational financial planning involve the assessment and management of the bank’s financial resources in the short term, which will help banks adapt to changing conditions and support the effective implementation of their financial strategy.

Examining the school governing bodies’ and their financial management roles and functions in public schools

The purpose of this paper is to examine the school governing bodies (SGBs) and their financial management roles and functions in public schools. Participants were 24 members of the SGBs’ finance committees who were selected through a purposive sampling technique. A qualitative research approach was followed, and an exploratory case study design was applied. Data was collected through in-depth interviews, focus group discussions and secondary documents, and it was analyzed through thematic and document analysis techniques. The findings revealed that members of SGBs do not understand their financial management roles and functions as they do not have the requisite knowledge and skills (Bisschoff & Thurlow, 2005; Dlomo et al., 2022; Sebidi et al., 2023). The findings also revealed that some financial decisions are not taken by designated finance committees, and this compromises the financial management responsibility of SGBs. Furthermore, this study finds that parent members of the SGBs are mostly financially illiterate and passive in meetings, hence their reliance on the school principal for financial decisions (Kruger et al., 2022). This study concludes that members of SGBs must be adequately trained in financial management skills so that they can effectively support their schools.

MANAJEMEN KEUANGAN BERBASIS E-RKAM DALAM MENINGKATKAN MUTU PENDIDIKAN MADRASAH DI KOTA BALIKPAPAN

The aim of the research is to describe e-RKAM-based financial management in improving the quality of Madrasah education in Balikpapan City. To analyze the inhibiting and supporting factors for E-RKAM-based financial management in improving the quality of Madrasah education in Balikpapan City. This type of research is descriptive qualitative with a phenomenological approach. Research location at MTs Negeri 1 and MTs Negeri 2 and MTs Ibnu Khaldun Balikpapan. Data collection techniques are observation, interviews and documentation. The analysis technique uses the Milles Huberman and Saldana model which includes data collection, data presentation, condensation and conclusions. The data validity test was carried out using triangulation. The result of this research is to find that e-RKAM-based financial management in improving the quality of Madrasah education in Balikpapan City has been implemented according to the stages and elements of the financial management function which includes planning, implementation, organizing and monitoring or evaluating. According to the instrument, the quality of madrasah education can be improved by running a budget according to the needs of the madrasah, the quality of education is carried out in accordance with the vision and mission of the madrasah and to achieve the goals of the madrasah, realizing improvements in madrasah facilities and infrastructure by creating transparency in madrasah financial management. Meanwhile, the findings of the obstacles and supporting factors for E-RKAM-based financial management in improving the quality of Madrasah education in Balikpapan City, are that the obstacle factors include operators who do not properly understand the E-RKAM application and must take part in training or outreach activities, limited infrastructure and facilities. which needs to be fought for in budgeting, the quality of teaching staff and educational staff. Meanwhile, the supporting factors for financial transparency and accountability are between kamad, head of TU, treasurer, operators and other staff. Kamad and related staff take part in upgrading, there are improvements to support all financial transparency and accountability between kamad, head of TU, treasurer, operators and other staff.

To Use WEB-Based Integrated Applications Through the Agency Level Financial Application System (SAKTI) for the Function of State Financial Management (Case Study on the APBN Work Unit in the Regional Office of the Ministry of Religion of Be

The management of Indonesian public finances within a work unit (Satker) environment is enhanced by the business process of managing public finances through an integrated application. The number of applications is then simplified into one application with an integrated database. This simplification is intended to minimize duplication of work and data entry. The SAKTI application integrates all existing Satker applications and has main features ranging from planning, implementation to budget accountability. The Regional Office of the Ministry of Religion of Bengkulu Province uses the SAKTI application to manage financial reports. The purpose of this study was to determine the willingness to use the SAKTI application in managing government financial reports in the work unit of the Regional Office of the Ministry of Religion of Bengkulu Province.

Implementasi Fungsi Manajemen Keuangan Sekolah dan Implikasinya pada Kualitas Pendidikan: Study Kasus SMP Lab School Universitas Negeri Surabaya (UNESA)

This study aims to describe the implications of the education financial management function on the quality of education at UNESA Labschool Middle School. Research with a qualitative approach uses a qualitative descriptive method. The research was conducted at UNESA Labschool 2 Middle School which is located in the UNESA Ketintang Surabaya Campus complex and UNESA Lab School 3 on Jl. Raya UNESA Tongue Wetan Surabaya. The primary data in this study are informants. Secondary data in the form of documents collected through informants. sources of data obtained are documents, participatory observation, and in-depth interviews. Data collection techniques with the method of observation, interviews and documentation. Data analysis was carried out through several steps, namely data reduction, data display, and conclusion drawing or verification. The results of the study show that financial management is oriented towards the independence of an organization or institution, in this case Labschool Middle School with implications for Teachers, Teachers get material well-being in the form of adequacy of allowances for daily living expenses and spiritual well-being in the form of security and comfort in carrying out daily activities -days in the neighborhood. The implications for students are channeling students' talents and interests through self-development activities in extracurricular activities that increase student achievement. The implications of implementing the proper financial management function will have an impact on the quality of education within the UNESA Labschool Middle School.

ANALYSIS OF THE FATE OF INDONESIA' S ECONOMY IN THE FUTURE

Court Developing countries tend to experience inflation, countries with inflation below 3% are still on the normal threshold for a country (stebisgm, 2015) but conversely a country with high and unstable inflation is a reflection of economic instability which results in a general and continuous increase in the level of prices for goods and services in a country and results in higher levels of poverty and unemployment. In this study we used a quantitative method using time series data from 2015 to 2021 and carried out statistical calculations using SPSS.. Results According to the study, the inflation rate is 3532 > 2306. The significance level is 0.039 <0.05, which means that inflation affects Indonesia's economic growth/gross domestic product (GDP). Even though the management of the state's economy cannot be separated from the state, including Indonesia from the countries affected by the state. However, the monetary and fiscal policies implemented in each country vary depending on economic conditions, direction and development goals to be achieved. The economic growth of a country, including Indonesia, is inseparable from the monetary and fiscal policies implemented by each country. However, monetary and fiscal policies differ from country to country Actual economic conditions, development trends and goals that can be achieved. An important function of financial management and financial management is to control inflation rates, cash flows and control additional costs in the company. The purpose of this study is to analyze the situation of the Indonesian economy for the next five years and to analyze the government's role in controlling inflation, monetary policy and fiscal policy and their impact on the economy. Macro - for economic analysis (Sutiono M.Kom., M.T.I, 2019) mi law near and far. The method used is a literature survey methodology and the data used is secondary data which is consistent with various relevant literature. To overcome inflation, monetary policy, and taxation, the government must implement performance-related macroeconomic policies. Measures of inflation and economic growth. Therefore, all countries must maintain economic stability is threatened. Inflation is one of the most important factors in the economy. The inflation rate is caused by many changes regarding major economic changes such as economic growth and unemployment. Thus, expansion is a variable that is often observed and tested both theoretically and empirically. Economic growth can only be successful if it is supported by sustainable growth, which then must improve people's welfare. Growth recovery refers to the rate at which growth returns to balance after a shock. In addition, this research examines sustainability factors in various regions in Indonesia. To measure the sustainability of inflation, this study uses the univariate autoregression (AR) model.. According to the results there are eight, namely:
 (1) provinces/cities in East Java experienced higher growth rates during the study period. The highest elevation is in the town of Probolingo and the lowest in the town of Madiun. The things that contribute the most to growth are made from staple foods like eggs, rice, chicken, tomatoes, beans and beef. and others
 (2) According to our findings, the increase in inflation in the eight provinces/districts of East Java was high enough to attract editorial attention. high inflation expectations also lead to persistent inflation. Based on this information, the government needs to formulate a strategy to control inflation that is sustainable and measurable, such as strengthening the role of groups. Regional Inflation Monitor (RPID). Unemployment and inflation are two important issues in any country. The difference between these two variables remains a subject of research among economists as evidenced by the Phillips curve theory.

Pengaruh Motivasi Kerja dan Pelaksanaan Fungsi Manajemen Keuangan atas Pengelolaan Pendapatan Negara Bukan Pajak (PNBP) Terhadap Pelaksanaan Akuntabilitas Keuangan Pemerintah Kota Makassar

This study aims to examine the effect of work motivation on the implementation of the financial management function in the management of non-tax revenue (PNBP) and its impact on the implementation of financial accountability for the government of Makassar City both jointly (simultaneously) and individually (partially). Respondents in this study were employees at the Makassar City Cooperative Service. Based on quantitative research methods, the total sample in this study was 44 respondents. In this study using primary data obtained from distributing questionnaires. The number of questionnaires distributed was 44 copies. The analytical method used in this study is multiple regression. The results of this study indicate that Work Motivation and the Implementation of the Financial Management Function simultaneously have a positive and significant effect on the Implementation of Financial Accountability at the Makassar City Government Office.

Financial Management: A System of Relations for Optimizing Enterprise Finances – a Review

Effective financial management is critical to the success of any organization. This review paper provides a comprehensive analysis of financial management as a network of interdependent processes that require coordinated action among investors, creditors, and managers. The paper examines the function of financial management within an organization and its role in achieving financial optimization. Drawing on extensive research, the review paper identifies the four pillars of efficient financial management: planning, budgeting, forecasting, and monitoring. It emphasizes the importance of open communication and coordinated action among all parties involved in financial decisions. By closely monitoring financial performance, financial management can guarantee that an organization is making the most of its available resources. The review paper also stresses the significance of strong leadership in financial management. Effective financial management requires skilled managers who can navigate the complex web of financial relationships within an organization. By analyzing key aspects of financial management, the review paper provides valuable insights into how organizations can optimize their financial management processes.

Capital Structure and Dividend Policy

The Capital Structure describes the combination of various components on the right side of the balance sheet. In general, it is a combination of debt and equity where the composition of the company's debt and capital will determine the dividend policy of the company's value. The value of the company reflects the present value of the expected income in the future. The financial management function can maximize the value of the company. Optimal capital structure will also affect dividend policy and high dividend payout will be responded by investors as a sign that the company is in good condition. A high dividend policy will also be responded to by an increase in share prices which will increase the value company.

ANALISIS SISTEM PENGENDALIAN INTERNAL PADA PENGELUARAN DANA KAS KECIL (STUDI KASUS PT. SUMBER BAHAGIA KARGO EKSPRESS)

This study aims to analyze the internal control system on petty cash disbursements at PT. Sumber Bahagia Kargo Ekspress which has been decided through standard operational management policies. Researchers also use the approach in this research study of literature.
 Based on the analysis in this study, the internal control system for petty cash disbursements has not been running effectively (theoretical comparisons and research findings in the field) at PT. Sumber Bahagia Kargo Ekspress. The results of the study show that there is no serial number printed on each proof of petty cash disbursement and petty cash disbursement documents that have been made that are not stamped with the mark "PAID" or a valid stamp if they have been paid. Another finding is that management still performs dual duties and authorities; namely the Accounting function and the Financial Management function.

Investigation into the Development of Intelligent Financial Management Systems Based on Artificial Intelligence

Artificial intelligence technology is primarily used to create and investigate methods of simulating human brain thinking. It is a new science and technology that extends current science and technology. In a theoretical sense, AI technology is a branch of computer science. We can create an intelligent machine similar to how humans think about problems by researching AI technology. The innovative financial management system has been gradually integrated into artificial intelligence technology. Artificial intelligence has endowed the intelligent financial management system with multi-agent systems, pattern recognition, expert techniques, and other vital technologies. Based on the influence of AI on financial information technology and financial management functions, this paper explores a new financial management model in the era of AI. It constructs an intelligent financial management system based on AI. It will assist businesses in utilizing intelligent technological resources to undertake forward-looking assessments, prevent financial risks, enhance the efficiency of financial management, and achieve tremendous company success.

Determinant Factors of Dividend Policy in Cooperative Organization

Dividend policy is one of the functions of financial management with regard to the distribution of corporate earnings after tax or the cooperative surplus to the owner. Dividend policy in cooperatives organization is regulated based on regulations and member agreements stipulated in the articles of association and by-laws of the cooperative. The purpose of this study is to analysis the determinant factors of dividend policy in cooperative organization. This study uses research and analysis of descriptive qualitative approach. Data were obtained from 4 cooperatives, where the cooperative determined with consideration of routinely distributing cooperative surplus.The results of the study show that the determinant factors of cooperative dividend policies are found in several additional determinants such as: member participation, cooperative principles, member conditions and regulation, in addition to determinants that have been widely researched and used as guidelines for in general, such as: liquidity, profitability, firm size, capital requirement (leverage), and risk. New findings from the determinants of dividend policy in cooperatives organization such as member participation, cooperative principles, member conditions and regulation need to be studied further with a quantitative research approach, so that the conclusions can be generalized.

THEORETICAL FOUNDATIONS OF THE FINANCIAL AND CREDIT MECHANISM OF FUNCTIONING OF AGRICULTURAL ENTERPRISES

The article is devoted to consideration of the main theoretical approaches to the concept of "financial and credit mechanism". In the article, the author applies a systematic approach to the interpretation of the financial and credit mechanism of enterprises. It involves consideration of this mechanism as a complex system in which various elements interact with each other and influence its functioning and results. The main idea of the systematic approach is that the understanding of the financial and credit mechanism cannot be separated from its components and interrelationships. Based on the systematic approach, the author systematizes the concept of financial mechanism, which can be interpreted from three main aspects: economic, managerial and systemic. It is noted that the financial mechanism of an enterprise consists of various elements that interact together to ensure financial stability and successful operation of the enterprise. The author's own vision of the definition of the financial and credit mechanism of enterprise is proposed, which is understood as a set of interrelated financial processes, instruments, methods and resources that an enterprise uses to ensure its activities, implement strategic goals and achieve financial stability, this definition will ensure the formation of its own vision of this financial and economic category. This mechanism covers all aspects of the financial activities of the enterprise, including the collection and use of financial resources, management of working and fixed capital, distribution of profits, optimization of tax payments, attraction of credits and investments, risk management The basic elements of the financial mechanism of the enterprise are determined, which include: financial planning, attraction of financial resources, management of working and fixed capital, financial control, risk management, financial reporting and financial analysis, p It is established that an effective management mechanism allows to fully realize the goals and objectives of the enterprise and contributes to the effective implementation of financial management functions.

Research on University Financial Accounting Management System Based on Big Data and Blockchain Data Fusion

The majority of traditional finance management in colleges and universities is manual. This backward management mode brings a lot of inconvenience to financial processing. An essential concern in the daily financial administration of colleges and universities is how to efficiently gather, handle, and evaluate this important financial information and apply this beneficial knowledge to the daily management of colleges and universities. College and university finance administration has become increasingly complex due to the rapid growth of these institutions. The standard financial accounting management system is far from adequate for the daily needs of colleges and universities as their size grows. As a result, a new financial accounting management system for universities is being developed based on the combination of big data and blockchain data. The embedded processor, DDR2 memory chip, network interface, and USB interface are all designed by the hardware section. The software element examines the needs of university financial accounting management before designing a model based on big data and blockchain integration for university financial accounting management. Finally, the financial accounting management function module and database are designed and tested. The experimental results show that the designed financial accounting management system can effectively carry out financial management, has good performance, and has certain application value.