Principles Of Financial Management Research Articles

Pengelolaan Keuangan Desa dalam Mewujudkan Good Financial Governance di Desa Lembang

This paper aims to analyze village financial management in realizing good financial governance in Lembang Village. The problem of tension is on the village's ability to properly and correctly manage village finances. There are still many villages that are wrong in implementing village financial management. Lembang Village is a village in West Bandung Regency and is the only one with the status of an independent village. This research method is qualitative. Data collection techniques by interviews, observation, and documentation. Data analysis by collecting data, reducing data, presenting data, and drawing conclusions. This study concluded that village financial management carried out by the Village Financial Management Technical Executor (PTPKD) in Lembang Village was good. From the planning to reporting and accountability stages, everyone plays a role and works together. Every stage in financial management, starting from planning, implementing, administering, reporting and accountability has been carried out by the principles of financial management, namely transparency, accountability, participatory and orderly and disciplined budgeting. By carrying out all the existing principles, the Lembang Village Government by the Development Village Index (IDM) that Lembang Village has the status of an independent village, and also the Lembang Village Government has implemented good financial governance.

A Study on Influencing Factors towards Online Financial Management Ability among College Students in Guangzhou

With today's rapid expansion of online financial services, college students' online financial management awareness is rapidly improving, as citizens' financial management awareness gradually improves. The purpose of this study is to examine network financial management ability, with the goal of investigating the financial management ability development of college students in the Internet field of vision. College students' network financial management capabilities should include network financial management concepts, network financial ethics, network financial management knowledge, and network financial execution ability, based on a comprehensive perspective of financial management, finance, pedagogy, statistics, and other disciplines, after consulting relevant materials and drawing on the opinions of relevant scholars. And a financial risk control system for the network. Based on the theories used are Cognitive Learning Theory (CLT), perceived risk, financial management theory, Quality Development Theory and Platform Economic Theory, the author conducted a questionnaire survey in certain colleges and universities in Guangzhou, Guangdong Province. The questionnaire's survey objects, as well as the scores for each question, are sorted and examined. Using data analysis shows the current state of network financial management principles, network financial management ethics, network financial management knowledge, network financial execution power, and network financial risk control among college students.

The COVID-19 Pandemic and Debudgetisation of Polish Public Finances

Abstract The aim of the article is to analyse the provisions regulating the organisation and principles of financial management of the COVID-19 Counteracting Fund in the context of progressive debudgetisation of public finances. The first part presents the concept, sources and effects of debudgetisation of public finances, with emphasis on earmarked funds as the basic example of this process. The second part assesses the regulations concerning the organisation and tasks of the COVID-19 Counteracting Fund, and presents the sources of financing and the principles of financial management. Using methods according to contemporary legal, economic and financial principles (in particular, a critical review of the literature on the subject, legal acts, and analysis of statistical data), basic features determining the actual nature and role of the COVID-19 Counteracting Fund in the collection and spending of public money were verified. The hypothesis that this institution (despite not having the status of a state earmarked fund in the normative sense) is a kind of para-budget with typical functions of public finances was confirmed. The creation of the COVID-19 Counteracting Fund resulted in the exclusion of some finances of a public nature from the general pool, intended primarily for tasks related to health care during the COVID-19 pandemic. The adoption of such a solution is part of a trend of increasing deviations from the principle of completeness of the state budget noticeable in recent years, which has led to excessive debudgetisation of the state budget. This, in turn, is not conducive to maintaining transparency and rationality in the collection and spending of public funds, which are prescribed by the doctrine.

ASSISTANCE FOR YOUTH GENERATION BASED ON THE PREPARATION OF SIMPLE FINANCIAL STATEMENTS ON MSMEs IN DRANGONG TAMAN KOTA SERANG

The purpose of this dedication for the Young Generation is to provide assistance and counseling to individuals or small entrepreneurs, especially micro and small MSMEs in Drangong Taman Kota Serang about practical and simple knowledge about managing simple finances in accordance with the principles of financial management. The research method used is the classical method with a discussion approach, question and answer, and simulation with the intention that the material can be well received by partners. It is hoped that after this service program is carried out, the participants will have the knowledge and insight as small entrepreneurs who are skilled in managing finances and are also able to look for opportunities to increase family finances as a provision to improve their standard of living for the better.

The Impact of Internal Audit Practices on Financial Management of Local Government Authorities: The Case of Morogoro Municipality in Tanzania

This study intended to explore the impact of internal audit practices on financial management of the Tanzanian LGAs, mainly at Morogoro Municipal. Descriptive and multiple regression analysis were applied on the collected data through survey instrument. Our findings indicate internal audit independence and quality of internal audit work significantly affect financial management in the stated LGAs. On the other hand, internal audit proficiency has no negative insignificant impact on financial management. It is recommended that LGAs should ensure that internal auditors are always equipped with relevant audit experience to enable them carry out their activities with confidence. Also, independence of internal auditors in Tanzanian LGAs must be significantly emphasized in order to ensure effective operations and management of public resources. Since our study concentrated only in one Municipal Council (Morogoro Municipality), it is recommended that future studies should consider the remaining Municipals in Tanzania. Morever, consideration of qualitative research approach will add more in-depth understanding on how internal audit practices explain effective financial management principles in Tanzania. This can be achieved by applying focus group discussion, interview and other relevant means of data collection apart from survey instrument which is constrained by biasness.

Efisiensi Alokasi Dana Bantuan Operasional Sekolah (BOS) Pada Masa Pandemi Covid-19

The Covid-19 pandemic that occurred had an impact on the sustainability of educational institutions. In response, the government took a policy related to the flexibility of the use of School Operational Assistance (BOS) funds for educational institutions to be used based on the analysis of important needs to be met. The research method used is the study of literature with the topic of the efficiency of allocating BOS funds in the study of the concept of educational financial management. The results illustrate that in order for bos funding allocation to be efficient, it must pay attention and prioritize the principles of financial management, namely fairness, efficiency, transparency and public accountability. In addition, the process of planning, organizing, implementing and controlling is still carried out properly in accordance with standards. The factors supporting the success of BOS fund efficiency are HR factors, communication, clear organizational structure and attitudes from the leadership of an educational institution. The hope is that the use of BOS funds can be more useful and targeted to finance the learning needs of educational institutions affected by the Covid-19 pandemic.

Manajemen Keuangan Lembaga Pendidikan Islam (Studi Tafsir Al-Mizan: M. Husain Tabataba’i)

Financial management demandstransparent and accountable financial accountability. To implement it effectively, it is necessary to internalize strong Islamic values. This article examined the principles of financial management in the Qur'an by using the interpretation of al MizanTabataba'i. Theological tendencies in al-Mizan's interpretation were relevant to study financial management which required fundamental principles in Islam. This research employed literature study. The results of the study indicated that Surah Yusuf contained fundamental values in carrying out effective financial management. Surah Yusuf verse 43-49 implied that planning was preceded by an assessment of the condition. Surah Yusuf verse 55 conveyed the characteristics that must be possessed by a person in the financial management. Surah Yusuf verse 59 showed the readiness to face auditing or budget evaluation. This study was supported by Surah Al Ma'un verse 1-3 that in the implementation of financial management of education institution, Islamic education institutions should not ignore orphans and the poor. Keywords: Financial management; Islamic education; Interpretation of al-Mizan

Increasing Product Distribution Capacity and Financial Management Of “Kampung” Chicken Egg Business at Lau Dendang Traditional Chicken Farm

There are several types of chicken farms with various production models. In the production process, partners start by purchasing chicken seeds and providing vitamins and then raising them by providing natural animal feed in the form of vegetables and fruits from traditional markets, so they do not use manufactured animal feed such as pellets and the like. Then, the enlargement process takes 3-5 months. In the husbandry principle, partners use the cage-free principle. However, in the production process, partners still use natural equipment due to limited capital. In addition, partners' knowledge of product marketing management is still minimal, even though the concept of organic production can be a potential brand that differentiates compared to competing products. On the financial management side, the business still combines personal and business finances, there is no clear cash flow report periodically. This causes the business to have no clear profit/loss and relatively slow to develop. Through this program, the implementation team offered solutions in the form of providing machines to facilitate the distribution of goods and increase the capacity of livestock land, providing branding concepts through brands and counseling on simple business financial management principles. The targeted outputs are increased egg production capacity, reduced feed distribution and transportation costs, added value in the form of brands, and simple business financial reports.

Strategi Pengelolaan Kekayaan Menggunakan Wealth Management Dalam Upaya Mengembangkan Sarana Dan Prasarana Di Pondok Pesantren Sunan Drajat

This research was conducted against the background of important asset and wealth management in educational institutions, especially Islamic educational institutions. This is because many Islamic educational institutions do not know the potential of their assets. Asset management using wealth management with Robert's quadrant cashflow approach. T. Kiyosaki can be used as a reference in mapping the assets owned by Islamic educational institutions, to then be developed and can have an impact on aspects of education support, one of which is wealth management facilities and infrastructure conducted in sunan drajat boarding school is done with the aim that the foundation can meet the needs independently without depending on other parties, especially in the development of educational facilities and infrastructure. This study includes qualitative research. Data is collected through interviews, documentation and observations. The results of the study showed that: 1) Wealth management, especially finance is carried out with a closed-transparent principle, with the division between educational financial institutions (BKK) and business financial institutions (Perkom) while holding the concept of financial management and financial management principles. 2) Wealth management conducted in sunan drajat boarding school using cashflow quadrant submitted by Robert T. Kyoosakai that has been modified in accordance with the educational environment, shows that Sunan Drajat boarding school is close to financial freedom in the management of his wealth. 3) The impact of Wealth Management in the development of educational facilities and infrastructure in Pondok Pesantren Sunan Drajat, among others, the first, the completeness of educational facilities and infrastructure. Secondly the maintenance of educational facilities and infrastructure and third, the effective use of educational facilities and infrastructure

Analysis of Operational Assistance School Fund Management

This study aims to analyze the application of the principles of the School Expenditure Management Budget Plan (RAPBS) in improving the quality of education at SMP Negeri 6 Tolangohula. This study uses 5 types of principles of financial management of BOS funds according to Ministerial Regulation No. 6 of 2021. This type of research is descriptive qualitative research. The method used in this research is observation, interview, and documentation.The results of this study are SMP Negeri 6 Tolangohula has implemented 5 principles of financial management of BOS funds properly, in accordance with technical guidelines and legislation on BOS funds, both physically and mentally. Flexibility, Effectiveness, Efficient, Accountability, and Transparency.

THE MANAGEMENT ASPECT OF TRAINING FUTURE HEADS OF EDUCATIONAL INSTITUTIONS FOR ECONOMIC ACTIVITY

The purpose of the article is to elucidate the training of future heads of education institutions for economic activity in the modern context; cover the management aspect and the results of an experimental test on the readiness of master’s students, specialty 073 Management (Educational institution management), for economic activity. A scholarly discussion on the problem of training future heads of education institutions for economic activity is presented. The authors describe the essence of the management aspect of training concerned. It is determined the levels (high, sufficient, average, low), structure, and criteria of the readiness of future heads of educational institutions for economic activity: motivational, cognitive, activity, and reflective. The foreign experience in training education managers for economic activity is considered. The requirements for training future heads of educational institutions for economic activity in Ukrainian universities are analyzed. The authors clarify the peculiarities of teaching the following disciplines of economics to master’s students, specialty 073 Management (Educational institution management): “Management of financial and economic activity”, “Legal and financial-economic fundamentals of educational institution management”, and “Educational fundraising”. It is identified core theoretical knowledge and practical skills that a graduate of the specialty 073 Management (Educational institution management) must possess. Emphasis is placed on the understanding of the principles of financial management of an educational institution; accounting organization as a separate area of an educational institution; the economic essence of salaries in educational institutions and accounting tasks; financial management of an educational institution, etc. Results. The authors have developed components of educational institution management amidst the educational system’s modernization and economic progress of the state, as well as the main ways to train future managers of educational institutions for economic activity. The results of an experimental test on the readiness of future managers of educational institutions for economic activity are presented: in the process of professional training, the number of students with a high level of EA readiness increased by 22.2%, the low-level indicator significantly decreased – by 18.4%, and the indicator of a sufficient level increased by 14.2%. This is also confirmed by qualitative changes in the readiness of future education managers for economic activity.

Optimization of management of financial flows of a group of companies

The main task of financial management in groups of companies is to coordinate financial flows and improve the efficiency of their management. The search and substantiation of economically feasible solutions to these problems is hampered by the presence of many different types of consolidated associations that do not allow a single approach to financial management to be applied. Therefore, the processes of modeling financial flows of groups of companies based on modern principles of financial management are gaining relevance. The purpose of this study is to develop a model for managing the financial flows of a group of companies, taking into account the specifics of its activities within the framework of the formation of an effective financial management system. A systematic approach, theoretical and practical research of specialists in financial management, methods of economic and mathematical modeling are used. The paper substantiates the need to form a single financial center in groups of companies that performs treasury, clearing and credit functions, identifies the features of the implementation of financial functions by a single financial center within the type of a group of companies. Models for managing financial flows of a group of companies are proposed, which are an algorithm for maximizing individual positive synergistic effects of a group of companies that are predicted to be obtained as a result of performing functions assigned to a single financial center. The practical value of the work lies in the possibility of using the presented models for managing financial flows in the activities of Russian groups of companies and integration associations, which contributes to the formation of an effective financial management system. It is concluded that building a model for managing the financial flows of a group of companies involves defining the target function of the activities of the companies that are part of the group, and setting a system of restrictions in which the participants have to work; development of an algorithm for the optimal distribution of financial resources between participants, carrying out mutual settlements and implementing intragroup lending.

Иқтисодий ислоҳотлар шароитида акциядорлик жамиятларида капиталлар таркибини шкллантириш натижалари

In this article, the state of high volatility in the modern financial market emphasizes the need to make effective decisions from the process of private capital and debt capital formation in order to ensure the sustainable development of companies. This alone is the basis for an in-depth analysis of balance sheet data and financial reports of enterprises. We can see that the capital category is correctly defined in the article and the principles of capital optimization based on the principles of financial management are defined.

Implementation of the principles of financial governance in service companies

The principles of financial governance that can be used to guide the design of service organizations are accountability, efficiency, transparency, legitimacy, and inclusiveness (Lockwood, Davidson, Curtis, Stratford, & Griffith, 2010). Financial governance mechanisms are also important for institutions for business continuity (Gennaro & Nietlispach, 2021). This study aims to analyze the principles of financial governance of companies traveling for Hajj and Umrah services. The research uses a qualitative approach with a phenomenological method that describes and gives meaning to the data. Data were obtained through interviews with the president’s director, director of operations, and finance department. Based on the results of data analysis, it shows that the five principles of financial management that become one unit can be implemented in the form of 1) binding and saving independently, guaranteeing the commitment of both parties; 2) determining packages and costs to facilitate Hajj pilgrims with various requests for facilities; 3) pay for departure, meaning that the company only receives payment after confirmation and schedule of departure; 4) bookkeeping is carried out on every financial transaction that has an impact on account changes; and 5) Infaq and empowerment as a form of redistribution of income and community welfare. The implementation of the five principles of financial governance from this study can be adopted for Hajj and Umrah travel agencies, especially in Muslim-majority countries.

Village Fund Management Accountability in Keroit Village, West Motoling District South Minahasa Regency

The problem in this study is the accountability of village fund management in Keroit Village, West Motoling District, South Minahasa Regency. The purpose of this study is to describe and analyze the implementation of the village fund management accountability system in Keroit Village, West Motoling District, South Minahasa Regency. This research method uses a descriptive qualitative approach and in obtaining research data in the form of primary data and secondary data, the researchers use data collection techniques through observation, interviews, and documentation with data collection techniques through data reduction, data presentation, and verification conclusions. The location of this research is in Keroit Village,West Motoling District, South Minahasa Regency. The results of this study indicate that the Accountability of Village Fund Management in Keroit Village by the government has not been implemented by the principles of financial management and related policies, according to the findings in the field by researchers that the Keroit village government is less open in providing information about Keroit village finances to the community and The limited information media available makes many people not aware of what village funds are used for, there is a report on the realization of the APBDes implementation by the village government which turns out that these programs are not visible in the community but have been realized by the government in the form of a report.

LIQUIDITY AND SOLVENCY IN THE CONTEXT OF FINANCIAL MANAGEMENT OF ENTERPRISE ACTIVITIES

The article considers the theory and methods of assessing the liquidity and solvency of the enterprise through the prism of financial management, which results in the interaction of all elements of financial relations of the enterprise, characterized by a system of indicators, reflecting the availability, allocation and use of financial resources. The interpretation of the economic category “liquidity and solvency management” of the enterprise is studied, namely the authors note that this is the process of developing and making effective management decisions to fulfill business obligations in full and on time due to available means of payment to ensuring stable development of the business entity in the current and future period. The purpose and main tasks of liquidity and solvency management of the enterprise are determined. The main stages of the process of liquidity and solvency management of business entities, as well as the main stages of their analysis. The authors noted that the formation of liquidity and solvency management policy should be based on the following basic principles of financial management: systematic, planned, focused, strategic, variability. The content of strategies for financing current assets is singled out and characterized: ideal; aggressive; conservative; compromise. When choosing a strategy for financing current assets, it is necessary to focus on the desired relationship between the level of profitability and the level of risk of loss of solvency of the enterprise, which is estimated by the required amount of working capital. For effective solvency management, it is necessary to determine which activities and which elements of assets or liabilities have contributed to the growth or reduction of cash, current assets, working capital and working capital and to what extent. At the same time, the assessment of the solvency of the enterprise should focus primarily on the study and analysis of the causes of financial difficulties of the enterprise. The authors noted that liquidity and solvency management is an important component of financial management and the implementation of effective liquidity and solvency management is the basis for further development of enterprises, which in turn will affect their investment attractiveness and competitiveness.

Analisis Sistem Pengendalian Intern Pemerintah Dalam Pengelolaan Bantuan Operasional Sekolah

This study aims to analyze the implementation of the government's internal control system in the management of school operational assistance at SDN 060864. The research method is a descriptive type of research with a qualitative approach, namely solving the problem under investigation by describing the state of the institution that is running the government internal control system based on the facts. through interviews and direct observations in the field. The results of this study indicate that SDN 060864 has implemented the five elements of government internal control which include the control environment, risk assessment, control activities, information and communication, and monitoring so that the financial management of school operational assistance funds (BOS) in SDN 060864 can be accounted for in a transparent and transparent manner. accountability in accordance with the principles of financial management according to Law Number 20 of 2003.

Дисконтування дебіторської заборгованості у системі фінансового менеджменту підприємства

Abstract. Introduction. The transformation of the financial management of the enterprise takes place not only under the influence of scientific research and progressive experience, as well as changes in current tax, currency and investment legislation. The change in financial management was influenced by the Order of the Ministry of Finance of Ukraine dated September 16, 2019 № 379, which approved the need to determine the present value of long-term receivables. Purpose. The purpose of the article is to summarize the provisions of current legislation on discounting receivables and to develop of directions ofreforming the financial management of the enterprise in terms of the introduction of mandatory discounting of receivables. Results. The study of discounting receivables in the financial management system of the enterprise involves understanding the discounting of receivables as a process of reducing future cash flows to present value in the context of managing the formation, distribution and use of financial resources and optimize cash flow. The structural and logical scheme of discounting of receivables in the system of financial management of the enterprise is offered. The approaches to determining the discount rate of receivables on the basis of generalization of recommendations of the State Fiscal Service of Ukraine and the Ministry of Finance of Ukraine are generalized. Recommendation letters and news reports of state financial institutions offer a choice of discount rate that provides legitimate company to vary the size of losses from cost reduction and vary the size of the tax difference in determining tax liabilities in calculating income tax in 2019-2020 is given.. Conclusions. Discounting of receivables in the financial management system of the enterprise is proposed to be considered as a holistic system, which is based on the principles of financial management and is designed to organize the interaction of objects and subjects of discounting receivables. Discounting of receivables in the financial management system of the enterprise is proposed to be considered as a set of eight stages.

FEATURES OF ENTERPRISE MANAGEMENT USING SCIENTIFIC METHODS OF INTERNATIONAL MANAGEMENT

Topicality. One of the modern features is the growth of economic interdependence of countries in the context of globalization and diversification of commodity, financial, investment and other markets. This trend determines the specifics and features of the development of foreign economic activity, which plays a crucial role in strengthening international integration processes. In the researched scientific works considerable attention is paid to the organization of foreign economic activity, research of aspects of efficiency of management of foreign economic activity.Aim and tasks. In view of this, the main purpose of the study is to systematize approaches to determining the financial management of foreign economic activity and outlining its own vision for the realities of the domestic economy.Research results. Financial management as a system of principles, means and forms of organization of monetary relations of the enterprise, aimed at managing its financial and economic activities, which include: development and implementation of financial policy of the enterprise; information support; evaluation of investment projects and formation of a "portfolio" of investments; current financial planning and control. Evaluation of investment efficiency is central to the process of justification and selection of possible options for investing in investment projects, and therefore is the key to successful investment activities. Among these tools the author singles out: financial planning of financial flows; purchase and sale of currencies to service various transactions; purchase and sale of shares and other securities on international financial markets; operating with own securities in foreign markets; currency risk management. In the scientific literature we also emphasize the concept of international financial management, which is interpreted as a system of economic decisions arising from the implementation of financial management in the internationalization of economic activity of the firm. In our opinion, the proposed definition is too narrow for the concept of international financial management, but it can be used to define the concept of financial management of foreign economic activity. Thus, the concept of financial management of foreign economic activity combines three categories, namely finance, management and foreign economic activity.Conclusion. Management of investment attractiveness of domestic enterprises is based on the analysis of indicators of financial condition, while effective management of financial activity of the enterprise is provided by realization of the basic principles of financial management as a component of the general management of the enterprise. Our study is determined by sound recommendations and suggestions for improving modern methods and introducing more modern approaches to improving the efficiency of enterprise management in the international arena.

PENGARUH PENERAPAN SISTEM PENGENDALIAN INTERN,PEMAHAMAN STANDAR AKUNTANSI PEMERINTAH,SISTEM INFORMASI AKUNTANSI KEUANGAN DAERAH, DAN PRINSIP PENGELOLAAN KEUANGAN TERHADAP KUALITAS LAPORAN KEUANGAN PEMERINTAH KABUPATEN BADUNG

The Government Regulation regarding Government Accounting Standards states that financial statements are structured reports of financial position and transactions conducted by a reporting entity. The quality of financial reports can be said to be of quality if they can meet the qualitative characteristics of financial statements contained in Government Regulation Number 71 of 2010 concerning Government Accounting Standards, namely: Relevant, Reliable, Comparable, Understandable. Many factors affect the quality of financial reports, this research uses internal control system variables, understanding of government accounting standards, regional financial accounting information systems, and regional financial management.
 The main objective of this research is to find out whether there is an influence from the internal control system, understanding of government accounting standards, regional financial accounting information systems, and regional financial management on the quality of financial reports at 38 OPDs of Badung Regency. The number of samples taken was 114 people, with purposive sampling technique. Data collection was carried out using a questionnaire. The data analysis technique used is multiple linear regression. The results showed that the application of the internal control system, understanding of government accounting standards, regional financial accounting information systems, and financial management principles had a positive effect on the quality of financial reports.