Financial Management System Research Articles

IMPROVEMENT OF STATISTICAL OBSERVATION IN THE FINANCIAL AND ECONOMIC SECURITY MANAGEMENT SYSTEM OF THE BUSINESS SECTOR

The study updates the issues of the state approach to the formation of information and analytical support for the state of financial and economic security of the entrepreneurial sector of the national economy based on the construction of a system of appropriate statistical observation. The purpose of the study is to improve statistical monitoring in the financial and economic security management system of the entrepreneurial sector of the national economy of Ukraine. The advantages and disadvantages of the existing in Ukraine statistical monitoring of parameters of financial and economic security of entrepreneurship are determined. The existing system of monitoring and diagnosis of the functioning and development of the small business sector in Ukraine and its aspects in the context of economic security are summarized. The sequence of strategic diagnosis of the state of business entities according to J. Thibault is highlighted. The system of objects of statistical observation of financial and economic security of the entrepreneurial sector of the national economy is defined. It was concluded that in Ukraine it is necessary to introduce statistical monitoring of the state of parameters of financial and economic security of entrepreneurship. The information collected in this way will serve as a sufficient analytical basis for identifying the shortcomings of the regulatory and legal environment of domestic business and developing, on this basis, high-quality, effective management decisions to overcome the most significant obstacles to strengthening the financial and economic security of entrepreneurship in Ukraine. The scientific novelty of the research results lies in the improvement of the methodological and applied principles of the state policy of forming statistical monitoring of the financial and economic security of the business sector. The applied value of the research results lies in the improvement of the system of information and analytical support for the management of financial and economic security of the entrepreneurial sector of the national economy of Ukraine.

The rise and fall of Stern Stewart & Co.’s EVA financial management system

The rise and fall of Stern Stewart & Co.’s EVA financial management system

지속 가능한 발전을 위한 재정관리 방안 연구 - 균형과 분권발전을 위한 경험적 고찰 -

지속 가능한 발전을 위한 재정관리 방안 연구 - 균형과 분권발전을 위한 경험적 고찰 -

Retracted: Design of a Financial Accounting Management System Based on a Computer Network

Retracted: Design of a Financial Accounting Management System Based on a Computer Network

Retracted: Design of Financial Information Management System and IoT Application Based on Fuzzy Comprehensive Evaluation

Retracted: Design of Financial Information Management System and IoT Application Based on Fuzzy Comprehensive Evaluation

Asymptotic Significance Test on Financial Performance in Papua Province Government

Purpose: This study analyses the financial performance of Papua Province's regency and city administrations from 2015 to 2021 in terms of regional independence, dependency, and harmony. Theoretical framework: Every local government should consistently, somewhat, equitably, and democratically enhance the services it provides to the community. The effectiveness of controlling these potentials can also be used to gauge the local government's financial performance. The regional budget serves as the government's indicator for assessing its capacity to finance the execution of development initiatives. Design/methodology/approach: Uses secondary archive data (APBD) retrieved from the DJPK database for the years 2015-2021. Various assessments, including the dependency ratio, the independence ratio, and the harmonization ratio, are used to evaluate the financial success of the previous years. The Asymptotic Significance with Kolmogorov-Smirnov test is used to determine the difference in financial performance. Findings: (1) Papua Province's financial performance between 2015 and 2021 shows that the ratios of independence are still deficient (below 25 percent) with the relation pattern with the central government in the instructional category, that regional dependency still revolves in very high criteria, and that the harmonization ratio is an average of 22.40 percent, with a perception of higher than national level 5-20 percent. (2) From 2015 to 2021, there is no substantive distinction between the regency and city's financial performance in the province. Research, Practical & Social implications: The imperative for in-depth research on regional financial performance in Indonesian provinces are linked to other variables such as regional loans or government policy that makes loans one of the regional sources of income. Improve the amount and quality of human resources in regional financial management, which naturally alters the regional financial management system. Originality/value: To improve the region's financial performance, the local government must increase local income through polling business more intensively and effectively. Local governments must establish more income targets with projections, modify rules relating to PAD improvement activities, and identify new PAD sources.

A recipient country‐centered approach to framing digital financial management information systems

AbstractDeveloping countries have commonly adopted financial management information systems developed by prominent international organizations or developed countries to modernize their fiscal functions. However, these systems face limitations in effectively meeting the specific needs of recipient countries and maintaining their built‐in functionalities. This field report aims to investigate the module based adoption of South Korea's Integrated Financial Management Information System as a customized strategy that aligns with the demands and capacities of recipient countries. The implications of this report provide practical pathways to integrate the push for modernization efforts of donor countries and the pull for localization goals of recipient countries, improving the effectiveness of financial management systems in developing countries and promoting self‐sufficiency and adaptability.

Penerapan Sistem Keuangan BUMDESA Amanah Di Desa Karanganyar Kecamatan Plupuh, Sragen

Law (UU) No. 6/2014 on Villages and its derivative regulations have changed and encouraged patterns of independence in villages, one of which is through the existence of Village-Owned Enterprises (BUMDesa) as a support for the village economy. Karanganyar Village, Plupuh Sub-district is one of the villages in Sragen Regency that has a BUMDesa as one of the pillars supporting Village Original Income (PADesa) named BUMDesa "Amanah" which was established in 2018. The objectives of this community service activity are (1) to assist partners (BUMDesa "Amanah") in preparing and implementing the Village Financial Management System using the BUMDesa Financial Management Application System, and (2) to assist the management of production and service management including drinking water quality testing. This activity uses the FGD method along with training in the preparation of financial reports which includes understanding the basics of accounting and assisting the production and service management of the PAM unit. The results obtained during community service activities are the determination of account names and account codes in accordance with SAK Etap, the application of the BUMDesa Amanah financial management system application, along with the results of the water testing laboratory. Community service activities at BUMDesa Amanah Karanganyar Village, Plupuh District, Sragen Regency have produced a BUMDesa financial management system that can be used to make integrated financial reports from each unit. In addition, this activity also produces water quality testing as a form of providing information to SR customers

Influence of Basic Health Care Provision Fund in improving primary Health Care in Kano state, a descriptive cross-sectional study

BackgroundThe Basic Health Care Provision Fund (BHCPF) is a direct financial investment that funds Primary Healthcare (PHC) to improve the quality of services. This study assessed the influence of the BHCPF in improving PHC services.MethodsA descriptive cross-sectional study was conducted among PHC workers in 100 facilities randomly selected from the 484 designated PHCs for implementing the BHCPF project in Kano state. Using multiple sampling methods, 200 healthcare workers in PHC facilities were selected and assisted by trained data collectors to respond to the questionnaires. Chi-square analysis was used to show associated factors, while binary regression analysis was used to determine the relationship between factors influencing the BHCPF implementation in PHC.ResultThe findings showed healthcare workers had higher awareness (61.7%) and good utilization (57.1%) of BHCPF. Challenges of the BHCPF implementation were insufficiently skilled health professionals (85%), lack of data management capacity (52.6%), low community participation and awareness (52.0%), delay in releasing funds (60.7%), poor infrastructure (87.8%), and weak financial management and accountability system (58.2%). Healthcare professionals having a diploma were four times more likely to have the National Health Management Information System (NHMIS) in their facilities (AOR = 4.955, 95% CI = 1.120–21.036; P-value 0.035) than those without. Primary healthcare facilities were two times more likely to have the NHMIS (AOR = 2.549, 95% CI = 1.167–5.566: P-value 0. 019) than health post.ConclusionThe factors that influenced PHC facilities to promote the implementation of BHCPF included: periodic evaluation of the facilities, availability of functional storage facilities, and improving the standard of care in PHC facilities. There is a need for retraining healthcare workers and creating more community awareness of the BHCPF.

Improvement of the financial management supervision system of universities in the context of big data

Abstract This paper first describes the process of the BP neural network mining algorithm, then applies the optimization algorithm to optimize the BP neural network model to improve its performance. The data mining algorithm is used to mine the financial management and supervision data of colleges and universities and analyze the problems in the financial management and supervision system of colleges and universities in terms of the financial management reimbursement process, budget process, financial information entry, and financial supervision respectively, and put forward suggestions for improvement. Regarding the awareness of financial information in colleges and universities, only about 30% of the people in each project said they understood it. In terms of financial work satisfaction, more than 50% are satisfied and very satisfied. On the problems of the reimbursement process, 87.75% of people think the approval process is long, 70.5% think the reimbursement rework rate is high, and 57.6% think the reimbursement queuing time is long. It is difficult to track the budget progress on a financial budget, lack of modern technology in the financial system, and lack of budget supervision are the top three, accounting for 77.3%, 77.5%, and 69.6%, respectively. Financial management in universities should keep up with the times and actively reform for the existing problems.

Costs of implementing a multi-site facilitation intervention to increase access to medication treatment for opioid use disorder

BackgroundThe United States has been grappling with the opioid epidemic, which has resulted in over 75,000 opioid-related deaths between April 2020 and 2021. Evidence-based pharmaceutical interventions (buprenorphine, methadone, and naltrexone) are available to reduce opioid-related overdoses and deaths. However, adoption of these medications for opioid use disorder has been stifled due to individual- and system-level barriers. External facilitation is an evidence-based implementation intervention that has been used to increase access to medication for opioid use disorder (MOUD), but the implementation costs of external facilitation have not been assessed. We sought to measure the facility-level direct costs of implementing an external facilitation intervention for MOUD to provide decision makers with estimates of the resources needed to implement this evidence-based program.MethodsWe performed a cost analysis of the pre-implementation and implementation phases, including an itemization of external facilitation team and local site labor costs. We used labor estimates from the Bureau of Labor and Statistics, and sensitivity analyses were performed using labor estimates from the Veterans Health Administration (VHA) Financial Management System general ledger data.ResultsThe average total costs for implementing an external facilitation intervention for MOUD per site was $18,847 (SD 6717) and ranged between $11,320 and $31,592. This translates to approximately $48 per patient with OUD. Sites with more encounters and participants with higher salaries in attendance had higher costs. This was driven mostly by the labor involved in planning and implementation activities. The average total cost of the pre-implementation and implementation activities were $1031 and $17,816 per site, respectively. In the sensitivity analysis, costs for VHA were higher than BLS estimates likely due to higher wages.ConclusionsImplementing external facilitation to increase MOUD prescribing may be affordable depending on the payer’s budget constraints. Our study reported that there were variations in the time invested at each phase of implementation and the number and type of participants involved with implementing an external facilitation intervention. Participant composition played an important role in total implementation costs, and decision makers will need to identify the most efficient and optimal number of stakeholders to involve in their implementation plans.

Aspects of Developing A Methodology for Managing Digital Financial Assets

The purpose of the study is to highlight the key aspects necessary for the formation of a methodology for designing systems for managing trading operations over cryptocurrencies. The methodology of designing digital asset management systems defines a set of rules for using methods, models and algorithms required to build systems that solve the complex problem of managing trading operations over digital economy assets. For this purpose, the dynamics and trends of pricing of digital investment and financial assets are investigated to identify the peculiarities and specific patterns of cryptocurrency, taking into account the mathematical model of issuance in the conditions of a dynamic crypto-asset market, functioning continuously and forming cyclicality and wave structures.Materials and methods. The object of the study is the dynamics of value indicators of the market of digital financial assets and digital currencies. The subject of the study is methods, models and algorithms for automated monitoring and management of digital financial assets and cryptocurrencies. The methodological basis of the research is formed by blockchain technologies, modeling and mathematical statistics methods, artificial intelligence methods. The statistical information base of the research is formed on the basis of the history of Tradingview’s value quotations from international trading exchanges of digital currencies, as well as by Coinmarketcap and Coingecko cryptoasset market integrators. Problems of modeling processes in economic systems are considered, the problem of optimal control is defined. A critical analysis of the state in the tasks of economic modeling is carried out, taking into account the uncertainty caused by social and psychological reasons.Results. The proposed methodology offers a comprehensive solution to the problem of managing digital financial assets and other financial instruments based on blockchain technology. Digital currencies act as the management object of the proposed methodology, the initial information is a vector of parameters that determine the sensitivity of the system to the perturbing influences of the external environment and the requirements for the expected management results. In accordance with the scientific novelty of the research and methodology, a set of interrelated research stages is formed, consisting of an ordered cascade of methods, models and algorithms that perform preliminary analysis, processing and forecasting of financial time series of value indicators.Conclusion. New blockchain technologies and the emergence of Chat GPT (generative pre-trained transformer) pose new challenges to society, which hopes to utilize such solutions, including for economic tasks. With the help of prediction-free methods and artificial neural networks it is possible to design software systems, thanks to which it is possible to increase the efficiency of trading operations at optimal risks in automatic and automated mode of trade execution. The proposed methodology of management with auxiliary intellectual analysis of time series and application of combined method of decision-making allows managing the portfolio of a new asset class of digital currencies based on blockchain technologies. Taking into account the technical similarity of digital currencies with digital financial assets, it is possible to use the methodology also for the creation of digital financial asset management systems.

Financial Management and Information Systems in The Municipalities of Kosovo

Financial Management and Information Systems in The Municipalities of Kosovo

Инструментарий зеленого бюджетирования и практический опыт его использования

Russia is following the course of implementation of the Sustainable Development Goals and shaping its climate strategy. In March 2023, Russia approved the National Action Plan for the second phase of adaptation to climate change for the period until 2025. The public budget is the main tool for achieving the political goals of the government, therefore, in order to implement the public policy in the field of environmental protection and counteraction to climate change, green budgeting is being introduced. The purpose of this article is to actualize the ideas of green budgeting, systematize such budgeting tools within the framework of the general concept of green budgeting, taking into account foreign experience of their use. The author uses general scientific methods, in particular methods of analysis and synthesis of relevant scientific literature, legal information and publications of international organizations. The following conclusions are made: The public budget system is able to minimize those economic activities that are adverse for the environment by creating the possibility of tracking, analysis, evaluation and adjustment of budget expenditures using the tools of green budgeting. The latter does not require restructuring of the public finance management system; the prerequisite for its practical use is the presence of environmental care among the state national goals.

Digital Financial Management for Mosque Fundraising: Empowering Indonesian Workers in Taiwan

This paper proposes the implementation of a digital financial management system for a group of Indonesian workers in Taiwan who perform fundraising to build a mosque. The system utilizes Google Form for data entry and Google Spreadsheet (dashboard) for processing and displaying the financial information. The results show the effectiveness of the tool in streamlining data entry and enhancing financial reporting and management. It is also supported by a pre-test and a post-test administration, resulting that there is a 20% improvement on the post-test upon utilizing the tools.

Application of Association Rule Mining Algorithm based on 5G Technology in Information Management System

In this paper, an application method of association rule mining algorithm based on 5G technology in information management system is proposed to solve the problems of long running time and low processing efficiency in traditional financial information processing system. The association rule mining algorithm's employment in information management systems is the main topic of this research study, which is based on 5G technology. The efficiency and efficacy of information management systems have a lot of room to grow with the introduction of 5G. Large datasets may be mined for patterns and associations using the potent approach known as association rule mining. We want to improve the performance of information management systems by fusing association rule mining with the capabilities of 5G technology. The experimental findings indicate that in the first group of trials, the traditional system’s time for information mining is identical to that of the developed system, which is around one minute. The typical system's time to mine financial information, however, steadily grows with the amount of experimental data. The difference between the two is most obvious in the sixth experiment. Because the design system can delve deeply into the financial information, the overall information mining time of the financial information management system based on the association rule mining algorithm of the design is shorter. It is confirmed that the system for automatically processing financial information described in this study has a high level of processing accuracy and a positive processing outcome.

Риски участников финансового рынка в условиях цифровой трансформации

The article is devoted to the consideration of the risks of the financial market in the conditions of digitalization of financial services, which contributes to increasing consumer access to financial services, reducing the costs of a financial organization by optimizing business processes. The implementation of digital financial services and digitalization of business processes in the financial market contributes to the emergence of additional risks or transformation of existing ones for all participants of the financial market: sellers, consumers and the regulator. In this regard, the article examines the sources of risks characteristic of all financial market participants, which allows us to form a clear concept of the financial risk management system in the digital financial market.

Assessment of financial management systems for sustainability of the SDA Church in South-East Kenya field, Kenya

The study aimed to examine the sustainability of the SDA church, South East Kenya Field's finance management systems. Critical gaps in managing the Church's finances have resulted in its unsustainability. Proper financial management systems are necessary to ensure the appropriate use of church resources for long-term sustainability. The Church is facing an economic crisis due to poor financial management, which has resulted in its inability to sustain itself. The Church cannot financially sustain itself and, therefore, cannot meaningfully impact the lives of members of society. The analysis drew upon Stewardship theory, which offered valuable guidance on financial management practices to ensure the long-term viability of the Church. The study used a descriptive research design, and data were obtained using interview schedules and questionnaires from a sample size of 355 participants. The study found that despite having all the financial systems and structures in place, the South East Kenya Field SDA church is still not self-sustaining. The systems need to be fixed since those to ensure that they are working are not adequately trained and not skilled. It recommended that the SDA church invest in its personnel in terms of empowerment in financial management for the Church's good.

Implementasi Activity Base Costing Dalam Pengendalian Biaya Pada CV. Berlian Kilau Abadi-Breakshoot Billiar

This study aims to describe the determination of the cost of production that has existed so far in the company CV Berlian Kilau Abadi-Breakshoot Billiard. Furthermore, calculating the production costs using the Activity-Based Costing approach. This study uses a qualitative approach with the case method. This study obtained data from the company in the form of secondary data, and primary data in the form of direct interviews with research informants. Research data through the data credibility testing process. Data were analyzed using the approach of Miles and Huberman (1994), which was carried out simultaneously with the process of data collection, data presentation, data reduction, and drawing conclusions or verification. The research results show that the company has never done a detailed calculation of production costs, only they are exploring the amount of costs that are likely to be incurred before determining the selling price. The selling price set for the billiard table rental game / sports service is primarily based on the price prevailing in the Bengkulu City market. The company has not detailed the types of costs incurred and how much they cost in determining the existing rental rates. The bookkeeping and financial management system still uses the traditional system by recording all the receipts and expenses that have occurred, and at the end of the month the total will be calculated to see if it gets a profit or a loss. The calculation of production costs using the Activity-Based Costing (ABC) approach is carried out in order to obtain the total production costs for each available hour. There are 19 cost items and their triggers which are identified as components of production costs. Costs are separated into direct and indirect production costs, then calculated the amount of the cost of production per hour of billiard table rental services. The total production costs generated are still below the selling price, namely IDR 17,638.09 (direct production costs IDR 15,691.88, and indirect costs IDR 1,946.21). Judging by the selling price of IDR 25,000, it can be concluded that the company is still in the profit category.

PELATIHAN PENGELOLAAN MENAJEMEN KEUANGAN PADA UMKM PUSPA PINUNJUL

Abstract 
 There are still many MSME actors who face obstacles in managing administration and financial management which have an impact on difficulties in obtaining access to capital and also in managing financial management. Community service is carried out to 1) To raise awareness and put the responsibilities of MSME actors/entrepreneurs regarding the importance of managing finances properly so that it will be easier to evaluate the development of their business, (2) To equip the abilities and skills of UMKM Puspa Pinunjul actors, (3) so that they can use and implementing a simple financial management system that is easily implemented in groups so that it can improve the financial performance of business units, (4) To increase the Participant's ability to make budget plans so that they can maintain the business and can develop the business in accordance with the plan according to the purpose of establishing a business. Community service activities are carried out at the UMKM Puspa Pinunjul in Klumutan Village, Saradan District, Madiun Regency. The implementation method goes through 4 stages which include Coordination and division of team work, shared perceptions with partners, implementation of workshops and Evaluation. Participants consisted of 17 namely the chairman and members who were members of UMKM Puspa Pinunjul. The results obtained from community service are an increase in understanding related to financial management and a positive response to the usefulness of implementing activities.
 Keywords : Financial management, Training, SMEs, Business Units