Financial Planning Research Articles

Cultural Insights: Financial And Accounting Literacy In Coastal Regions

ABSTRACT The aim of this research is to analyze the factors influencing financial literacy and accounting literacy among coastal community members. The population in this study consists of 520 respondents. The sampling technique employed is random sampling, with a sample size of 210 individuals from coastal communities. Data analysis is conducted using Structural Equation Model (SEM), and the analysis tool is the LISREL 9 software. The results indicate that financial attitudes, religiosity, and financial planning positively influence both financial literacy and accounting literacy. Furthermore, financial literacy has a positive impact on accounting literacy. The implications of this study underscore the importance of considering these factors when designing financial and accounting literacy programs tailored to empower coastal communities. Precision in policy measures and educational initiatives can be crafted to meet the specific needs of coastal communities, enhancing their understanding of financial and accounting matters and supporting economic growth and community resilience in the region. Keyword: Financial Attitude, Religiosity, Financial Planning, Financial Literacy, Accounting Literacy, Coastal Communities

Artificial Intelligence in Accounting, Medicine, and Law with Potential Implications for Financial Planning: A Review of Literature

Generative Artificial Intelligence (AI) is rapidly reshaping multiple fields. Generative AI is a type of AI that can create new content or information from scratch, rather than simply manipulating or organizing existing data. This has the potential to revolutionize the way that financial advisors interact with clients and manage their businesses. However, there are many unknowns as it relates to the level and degree of disruption that Generative AI can bring to financial planning. Therefore, this paper explores the interaction of AI with financial planning, drawing insights from the practices of accounting, medicine and law. While the primary focus remains on financial planning, this interdisciplinary approach aims to enrich understanding and examines parallels and emerging trends across diverse professional domains. Each of the four professions integrates client needs, preferences and goals into their decision-making processes.

Bank Liquidity and Financial Performance of Deposit Money Banks in Nigeria

Due to the importance of the deposit money bank to the Nigerian Economy that liquidity level and status of this sector is not only important to the investors, the bank itself but also to the economy at large. Based on this challenge this study examines into the impact of bank liquidity on financial performance of deposit money banks in Nigeria. The secondary data was sourced from the audited financial statement of deposit money banks from 2018 to 2022. The study employed the static panel regression analysis to determine the relationship between liquidity ratio, loan-to-deposit ratio and bank size and financial performance measures. The findings from model one reveals that loan-to-deposit ratio and liquidity ratio has negative and positive significant effect on earnings per share, while loan-to-deposit ratio, liquidity ratio and bank size has negative significant effect on net interest margin. It is therefore recommended that deposit money banks should carefully manage their loan-to-deposit ratios to avoid excessive lending that could negatively impact earnings per share. Institutions should focus on improving their liquidity ratios by maintaining sufficient liquid assets to meet short-term obligations. Enhancing liquidity management practices can positively affect earnings per share, boosting overall financial performance and shareholder value. Regularly monitoring and adjusting these ratios will ensure a balanced approach to lending and liquidity, supporting sustainable growth and profitability. Additionally, financial institutions should provide ongoing training and resources to their teams to strengthen risk management and financial planning.

Strategi Meningkatkan Kesadaran Menabung pada Anak-Anak Sejak Dini di Dusun II Desa Pantai Labu Kecamatan Pantai Labu

UMSU KKN activities in Dusun II, Pantai Labu Village focus on developing a simple financial education program for elementary school students through the concept of saving. This program is motivated by the importance of instilling the habit of saving from an early age to form a wise young generation in managing finances. One of the innovations implemented is the Savings Challenge, which is designed to increase students' motivation to save consistently. This competition involves all students, where they compete to save with a certain target during a predetermined period. The purpose of this program is to teach students about the importance of saving regularly and introduce the concept of simple financial planning. The method used is a participatory approach, where students are actively involved through games, stories, and group saving challenges. In addition, collaboration with teachers and parents is also an important part in ensuring the sustainability of the program. The results of this program show an increase in students' motivation to save, both at school and at home. Children not only understand the importance of saving, but are also motivated to achieve their short-term financial targets. In addition, this program also received support from teachers and parents, who felt a positive impact on students' behavior in managing their money.

Machine learning in budget forecasting for corporate finance: A conceptual model for improving financial planning

This paper explores the transformative potential of machine learning (ML) in budget forecasting within corporate finance. It begins with an examination of the importance of accurate budget forecasting for financial planning and the limitations of traditional methods. Theoretical foundations of ML are then discussed, highlighting relevant techniques such as regression, time series analysis, and neural networks. A conceptual model for ML-driven budget forecasting is proposed, detailing its components, architecture, and integration into financial planning processes. The paper also addresses the expected benefits, including improved accuracy and efficiency, alongside the challenges such as data quality, ethical considerations, and organizational barriers. By navigating these challenges through robust data governance, ethical practices, and strategic implementation, organizations can significantly enhance their budget forecasting processes, leading to better financial outcomes and strategic decision-making.

Integrating predictive analytics into strategic decision-making: A model for boosting profitability and longevity in small businesses across the United States

The integration of predictive analytics into strategic decision-making has emerged as a transformative approach for small businesses in the United States, offering enhanced pathways to profitability and longevity. This study proposes a conceptual model that explores how predictive analytics can empower small businesses to make data-driven decisions, optimize resources, and mitigate risks. By leveraging advanced machine learning algorithms, data mining, and statistical techniques, small businesses can identify trends, predict customer behavior, and uncover growth opportunities. The proposed model focuses on integrating predictive analytics across key operational areas: financial planning, marketing, inventory management, and customer relationship management. In financial planning, predictive analytics enables more accurate forecasting of revenues and expenses, supporting budget optimization and investment decisions. In marketing, businesses can analyze consumer data to design targeted campaigns, improving conversion rates and customer retention. Inventory management benefits from predictive insights by anticipating demand patterns, reducing overstocking or stockouts. Moreover, customer relationship management is enhanced through personalized recommendations and proactive engagement strategies. This research emphasizes the accessibility of predictive analytics tools, particularly through cloud-based platforms, enabling small businesses to adopt these technologies without incurring substantial costs. Additionally, the study highlights challenges such as data quality, privacy concerns, and the need for technical expertise, proposing strategies to overcome these barriers. Case studies of small businesses that have successfully implemented predictive analytics demonstrate significant outcomes, including increased operational efficiency, reduced costs, and sustained competitive advantage. The findings underscore the importance of fostering a data-driven culture and investing in training to enhance employees’ analytical capabilities. Policymakers and industry stakeholders are encouraged to support initiatives that promote the adoption of predictive analytics in small businesses through funding, education, and technical assistance programs.

Analysis of the Influence of Financial Manager Competence, Access to Capital, and Community Economic Independence on the Effectiveness of Financial Management of MSME Actors in Kwala Serapuh Village, Langkat with Financial Information System as an Interve

This study aims to analyze the influence of three main factors, namely the competence of financial managers, access to capital, and economic independence of the community on the effectiveness of financial management of Micro, Small, and Medium Enterprises (MSMEs) in Kwala Serapuh Village, Langkat. In addition, this study also explores the role of financial information systems as intervening or intermediary variables. The first factor studied is the competence of financial managers in managing MSME finances. It includes knowledge and skills in financial planning, transaction recording, and financial analysis. This research will identify the extent to which these competencies affect the effectiveness of MSME financial management. The sample in this study is 85 MSME actors. The method used is PLS analysis. The results of the study show that Financial Management Competency (KPK) has a significant positive effect on Financial Management Effectiveness (EMK). Financial Management Competence (KPK) has a significant positive effect on the Financial Information System (SIK). Access to Capital (AM) has no positive and insignificant effect on the Effectiveness of Financial Management (EMK). Access to Capital (AM) has a significant positive effect on the Effectiveness of the Financial Information System (SIK). Economic Independence (KE) has no positive and insignificant effect on the Effectiveness of Financial Management (EMK). Economic Independence (KE) has a significant positive effect on the Financial Information System (SIK). The Financial Information System (SIK) has a significant positive effect on the Effectiveness of Financial Management (EMK).

The impact of digital literacy on women’s economic empowerment: A study of Owerri municipal

Globally, digital literacy is emerging as a crucial tool for personal and societal development. In Nigeria, a nation grappling with various challenges, digital literacy offers a potential solution to empower women economically. This study investigates the impact of digital literacy on the economic empowerment of women in Owerri Municipal. By analyzing data from a survey of 255 women, the research found that women with digital skills exhibit greater economic success compared to those without. Key findings include: ● Enhanced Economic Performance: Digitally literate women demonstrate improved performance in various economic activities. ● Increased Opportunities: Digital literacy opens doors to new opportunities, particularly in entrepreneurship and online businesses. ● Improved Financial Management: Digital tools facilitate better financial planning and decision making. To maximize the potential of digital literacy, the following recommendations are proposed: ∙ Government Initiatives: The government should prioritize digital literacy programs for women, offering scholarships and incentives. ● Empowerment Opportunities: Women should actively seek opportunities to acquire digital skills and leverage them for economic advancement. ● Leadership Roles: Digitally literate women should be encouraged to assume leadership positions in both public and private sectors. By investing in digital literacy, Nigeria can empower women, drive economic growth, and create a more equitable society

Understanding financial management as a determining factor for the success of MSMEs: A qualitative study

Purpose: This study aims to explore the understanding of financial management among micro, small, and medium enterprises (MSMEs) and how such understanding influences the success and sustainability of their businesses. The primary focus is to identify key financial management factors considered essential by MSME owners and the challenges they face in implementing effective financial practices. Research Methodology: This research employs a qualitative literature review methodology, analyzing relevant studies, reports, and articles related to MSME financial management. The study synthesizes insights from various sources to provide a comprehensive understanding of the current practices, challenges, and factors that contribute to the financial success of MSMEs. Results: The findings indicate that a solid understanding of financial management, including cash flow management, transaction recording, and long-term financial planning, plays a crucial role in the success of MSMEs. Despite the recognition of its importance, many MSME owners face barriers such as lack of financial knowledge, limited access to financial resources, and reliance on manual accounting methods. Moreover, many fail in long-term financial planning, which impedes their ability to manage risks and plan for business expansion effectively. Limitations: This study is limited to a qualitative literature review, which may not capture the full range of experiences from MSME owners across different sectors or regions. Contribution: This research contributes valuable insights for MSME owners, financial institutions, and policymakers in understanding the critical role of financial literacy and providing better support for MSMEs.

BUSINESS ASSESSMENT THROUGH A FINANCIAL RATIO APPROACH AT DAWET IRENG & KUPAT TAHU “5758” JAMBI

<p class="p" align="justify"><em>Jambi City is a city in Jambi Province that has experienced an increase in culinary businesses such as restaurants, cafes, restaurants, and stalls. In managing a business, financial planning and analysis are needed to achieve smooth business. One of the analyses is the examination of financial statements. The type of research used by the author is descriptive research with a quantitative approach that collects data that is objective and measurable. The data collection techniques that the author uses are observation, interviews, documentation, bibliography and secondary data. The results showed that Return On Equity for 3 years measured by profit after tax divided by own capital obtained an average result of 1.72% or was in poor condition. The results of Return On Investment in the year from 2020 increased by 0.17% or with a value of 1.87% in 2021 and decreased in 2022 with a value of 1.59%. Cash Ratio or the restaurant's ability to pay off current debt with cash has not changed or remains at a value of 2.75%. Current Ratio which measures the restaurant's ability to pay off current debt if debt is collected reaches 27.5% or is at the lowest assessment score, Collection Period measures the restaurant's ability to collect receivables for 3 years is very good by obtaining a maximum assessment. Inventory Turn Over for the last 3 years has a maximum value of 5 which can be concluded that the effectiveness of inventory turnover in the restaurant is very good. Total Asset Turn Over has increased and decreased with an average calculation value of 2.69%. Own Ratio Capital to Total Assets during the study received a value of 4 or the effectiveness of using assets for business for 3 years of bookkeeping is not good. From the 8 aspects of assessing these financial ratios, Dawet Ireng & Kupat Tahu “5758” Jambi has an average financial performance that is less healthy from a score of ≤ 7 to > 66.5 obtaining an average value of 22.5 or less good and needs to be improved in the next period</em><em>.</em><em></em></p>

Fuzzy Decision Support System for Financial Planning and Management

Fuzzy Decision Support System for Financial Planning and Management

The Influence of Additional Tax Levies by Specific Percentages (Opsen) on Enhancing Regional Revenue Planning

This research aims to analyze the effect of the implementation of the Additional Tax Levy According to a Certain Percentage (Opsen) on the increase in Regional Original Revenue (PAD) and its effectiveness in supporting regional financial planning. The research method used is quantitative with a descriptive and causal approach, involving selected regions that implement the tax opsen policy. The results showed that the implementation of tax opsen significantly increased PAD, with the contribution varying depending on the economic characteristics of each region. In addition, this study also found that tax opsens positively contributed to the stability of local financial planning. Regions that implemented tax opsen had lower PAD variability (12%) and less dependence on central transfers (25%) compared to regions without tax opsen. These findings suggest that tax opsen not only increases revenue, but also reduces local dependence on central transfers, allowing local governments to allocate resources more effectively to development programs. This research is expected to serve as a reference in the development of a more independent and sustainable fiscal policy at the local level.

The benefits of social insurance system prediction using a hybrid fuzzy time series method

Decision-making in many industries relies heavily on accurate forecasts, including the insurance sector. The Social Insurance System (SIS) in Egypt, operating under a fully funded paradigm, depends on reliable predictions to ensure effective financial planning. This research introduces a hybrid predictive model that combines fuzzy time series (FTS) Markov chains with the tree partition method (TPM) and difference transformation to forecast total pension benefits within Egypt’s SIS. A key feature of the proposed model is its ability to optimize the partitioning process, resulting in the creation of nine intervals that reduce computational complexity while maintaining forecasting accuracy. These intervals were consistently applied across all fuzzy time series models for comparison. The model’s performance is evaluated using established metrics such as MAPE, Thiels’ U statistic, and RMSE. Additionally, prediction interval coverage probability (PICP) and mean prediction interval length (MPIL) are used to assess the quality of prediction intervals, with a 95% prediction interval serving as the baseline. The proposed model achieved a PICP of approximately 95%, indicating well-calibrated prediction intervals, although the MPIL of 424.5 reflects a wider uncertainty range. Despite this, the model balances coverage accuracy and interval precision effectively. The results demonstrate that the proposed model significantly outperforms traditional models like linear regression, ARIMA, and exponential smoothing and conventional FTS models like Song, Chen, Yu, and Cheng by achieving the lowest MAPE with the value of 11.8% for training and 10.65% for testing. This superior performance highlights the model’s reliability and potential applicability to further forecasting tasks in the field of insurance and beyond.

Determinants of Artificial Intelligence Adoption among Working Adults in Personal Financial Planning

Determinants of Artificial Intelligence Adoption among Working Adults in Personal Financial Planning

Exploring the Effect of Leadership Styles on Financial Management Practices in Tertiary Healthcare Institutions in South-South Nigeria

Leadership in healthcare institutions has a significant effect on financial management practices, which are crucial for ensuring the sustainability and efficiency of service delivery. This study explores the effect of various leadership styles—autocratic, democratic, laissez-faire, bureaucratic, transformational, and transactional—on financial management practices, specifically financial accountability and budgeting, in two tertiary healthcare institutions in South-South Nigeria: University of Port Harcourt Teaching Hospital (UPTH) and Rivers State University Teaching Hospital (RSUTH). Using a cross-sectional design approach, quantitative data were collected through structured questionnaires administered to 195 participants from UPTH and 115 from RSUTH. The data were analyzed using Descriptive statistics and Spearman’s rank-order correlation. The results revealed that at RSUTH, transformational and autocratic leadership styles positively influenced financial accountability, with transformational leaders fostering transparency and ethical practices, while autocratic leaders ensured compliance with financial standards. In terms of budgeting, democratic and transactional leadership styles were positively associated with budgeting practices at RSUTH, supporting inclusive and structured financial planning. At UPTH, laissez-faire and bureaucratic leadership styles unexpectedly showed positive correlations with budgeting, suggesting that decentralized decision-making and procedural rigor may encourage employee engagement in financial planning. These findings highlight the importance of adaptable leadership that balances compliance with collaborative and innovative approaches to financial management. The study concludes that healthcare institutions should prioritize transformational and democratic leadership styles, which promote transparency, accountability, and participatory decision-making. Implementing leadership development programs to equip leaders with adaptable skills based on situational needs is recommended. Future research should investigate the long-term effects of leadership styles on financial sustainability across diverse healthcare contexts.

The Effect of External and Internal Factors on Financial Management of Salt Business Actors

The salt industry is one of the important sectors that contribute to the regional economy in Indonesia, where business actors in the salt industry face intense competition, so effective financial planning is crucial to survive and thrive. Good financial management can increase competitiveness and minimize financial risk. However, many business actors do not yet understand the importance of responsible financial management. This study aims to analyze the influence of external factors, such as climate change, government policies and competition in the industry, as well as internal factors, such as financial planning and sources of financing or funding, on the financial management of salt business actors in Pamekasan. Despite having great potential, business actors often face challenges from external factors, such as unpredictable weather and competition in the salt industry. The results of the study are expected to provide insight for business actors in optimizing financial management to improve business performance and contribution to national income.

Social Media Influence on Senior High Students' Spending Behavior for a Financial Management Plan

Purpose: This paper focuses on the rising influence of social media on senior high school students' financial behaviour and uses the case study of a Manila student subjected to social expectations, attitude in spending, and perceived control. Social media is viewed as a new learning opportunity about finance, yet it tends to nurture consumerist tendencies associated with impulsive buying. Therefore, the research gap in the existing studies aims at detailing mechanisms by which social media impacts students' spending. Study design/methodology/approach: A descriptive-correlational design was used, with responses obtained from 308 senior high school students through structured questionnaires. This allowed for assessing the correlations between social media influence, students' financial attitudes, subjective norms, perceived control, and spending behaviour patterns. Findings: Key findings depict a good correlation between students' exposure to social media and their spending behaviour, which would articulate how digital platforms influence financial attitudes and decision-making. Integrating educational finance management into school curricula would support students in learning to think critically and responsibly about their finances. However, this cross-sectional study limits generalisation and calls for the agenda of longitudinal research in this area. Originality/value: This paper contributes to the existing literature based on particular mechanisms about the impact of social media on student spending behaviour, especially within the context of Manila. It indicates the practical value of infusing financial education into school programs, promoting media literacy and financial responsibility in students to foster independence and long-term fiscal awareness.

ESTRATÉGIAS PARA A REGULARIZAÇÃO DOS CONCURSOS NA POLÍCIA MILITAR DO PARANÁ: ANÁLISE DOS IMPACTOS ORÇAMENTÁRIOS E ADMINISTRATIVOS

This study analyzes strategies for regularizing recruitment competitions for military police personnel in the Paraná State Military Police (PMPR) and the ensuing budgetary and administrative impacts due to the current irregularity of these competitions. The central aim is to identify the difficulties faced by the PMPR and the state government caused by the discontinuity of these recruitments, which result in budgetary and logistical planning issues. The research utilizes data from the Personnel Directorate, the Recruitment and Selection Center of the PMPR, and relevant legislation to quantify the financial and human impact resulting from the sporadic nature of the competitions, evidenced by a 32% deficit in the projected personnel. Four competitions between 2005 and 2020 were analyzed, exploring recruitment challenges, including the overload of Police Training Schools and sporadic selection processes. The results suggest that an annual competition policy could enhance the quality of candidate selection and facilitate better financial and logistical planning, ensuring a perennial and efficient replenishment of personnel. The conclusion emphasizes the importance of a regularization strategy to minimize the administrative and budgetary impacts and improve the operational capacity of the Military Police, thereby promoting greater public safety and efficiency in the services provided.

Study of Effects of Working Capital Management on Profitability of Firms in Pakistan

The study used 12 years of annual panel data since that time to look at the consequences of working capital management on the viability of the enterprise during the different operating cycles of 65 non-financial companies registered on the Karachi Stock Exchange (Pakistan) from 2004- 2016. We use the Pedroni panel co-integration and Kao residual panel co-integration methods to ensure the effective long-term connection among the variables considered. The results of the regression analysis show that there is a prominent negative relationship among the cash conversion cycle and its composition and the profitability of the company. In addition, the economic cycle will influence the management of working capital and the company's interest ratetherefore, it may be said that the effective management of working capital is important, so it must be involved in the financial plan.

Visualising the research landscape on financial issues among special needs children: A bibliometric analysis from 1992 to 2024

A special needs family requires proper guidance as there are emotional and financial aspects involved in planning. The global concern surrounding financial planning for families with children who have special needs poses a significant risk to the well-being of these families. This study presents a bibliometric analysis of research on financial issues among special needs children, using data from the Scopus database. The analysis covers 32 documents published between 1992 and 2024, focusing on three main aspects: the evolution of research, major contributors, and keyword mapping. This study developed visualisations and integrated data using VOSviewer 1.6.15 and Harzing’s Publish or Perish, respectively. The results show a slow but steady growth in publications since 1992, with a dramatic increase after 2012. The United States dominates the research landscape regarding publications and citations, followed by China, Australia, and the United Kingdom. The most productive institutions and authors are identified, along with the most frequently cited papers. Keyword analysis reveals a focus on autism, economics, and children, with emerging themes such as financial well-being, coping behaviour, and mental health. The study highlights the need for more interdisciplinary and global research efforts to address the complex financial challenges faced by families with special needs children. This study is considered to be reasonably representative as it focused on papers indexed in the Scopus database. This bibliometric study can be utilised as an initial undertaking in doing systematic literature reviews and meta-analyses. The findings are expected to stimulate future research and provide direction for advancing the field of study. The findings can also inform future research directions and policy initiatives aimed at addressing the financial challenges faced by families with special needs children. Limitations and suggestions for further research are discussed.