Quality Of Financial Management Research Articles

Explore the Problems and Solutions in the Management of Financial Funds in Colleges and Universities

Financial capital management is an important guarantee to realize the normal operation of colleges and universities, and to improve the level of financial management is a key topic of research in colleges and universities. Therefore, some universities continue to improve and update management measures, hoping to improve the efficiency of the use of financial funds, reasonable allocation of capital resources. However, in the actual management stage of financial funds, there are still shortcomings, including the low utilization rate of funds, this paper carries out an analysis of this, describes the problems existing in the management of financial funds in colleges and universities, focuses on the analysis of solutions, in order to provide some suggestions for improving the quality of financial management in colleges and universities.

The urgency of implementation SAK EP in replacing SAK ETAP in savings and loan cooperatives

Savings and Loans Cooperatives (KSP) play an important role in the community’s economy, especially in providing financial access to their members. However, in man- aging their finances, many KSPs still use the Entity Without Public Accountability Financial Accounting System (SAK ETAP). This Community Service aims to ana- lyze the urgency of implementing Financial Accounting Standards for Fund Manage- ment Entities (SAK EP) as a replacement for SAK ETAP in the KSP context. The community service method is carried out through socialization, training and direct assistance to KSP administrators and members in implementing SAK EP. Com- munity Service Results show that the implementation of SAK EP in KSP provides significant benefits, including increased transparency, accountability and reliability of financial information. The use of SAK EP also helps KSP in meeting regulatory requirements and increasing the trust of members and external parties such as banks and the government. Apart from that, this community service also strengthens un- derstanding and accounting skills for KSP administrators and members, which in turn can improve the quality of financial management and overall KSP business growth. This community service emphasizes the urgency of implementing SAK EP in replacing SAK ETAP in KSP as an important step towards better financial gov- ernance, which has a positive impact on the economic growth of society as a whole.

Managing the Liquidity and Market Stability of Agricultural Organizations

Full economic independence of business structures places special requirements on the financial management quality. Its main task is to ensure self-sufficiency and self-financing as the basis for liquidity and market stability of the business. Taking into account the role of agro-industrial enterprises in the socio-economic development of the region and the specifics of the organization of their activities, coordination of the actions of the state, as the owner of the land, and its lessees in this process is of particular importance. By leasing the most important resource, the goals of the state should be the following: preservation of soil fertility, its effective use, compliance with the optimal structure of crop rotation, ensuring employment of eco-nomically active rural population, ensuring food security in the region, price stability for a socially significant range of food products, and ensuring socio-economic development in general. The article examines the activities of one of the leading agricultural organizations in the region. Its liquidity and market stability were determined, factors that had a negative impact on its activities as a whole were identified.

Regulated public accessibility to municipalities’ financial reports and bond interest cost

PurposeIn this study, we examine regulated public accessibility to municipalities’ financial reports and bond interest cost. In particular, we examine whether there is information content in a component of a constrained filing period that is useful to municipal bond market participants. The component of a filing period that we focus on is the period of time between an audit report date and a regulated public accessibility date.Design/methodology/approachTo explore our research question, we collect a sample of observations from municipalities that: (1) are required to post annual/audit financial reports on a centralized state-level repository that includes a “transparent” date stamp on when reports are made publicly available and (2) have issued general obligation bonds. Our sample is limited to one observation per municipality. The sample period is 2006–2019. In terms of approach, we use an ordinary least square (OLS) regression model to empirically test whether the time period between municipalities’ audit report date and state-required repository filing date is associated with general obligation bond interest cost.FindingsWe find support for the idea that there is information content in a component of a constrained filing period. In particular, we hypothesize and find a positive association between the time period between an audit report date and a state filing date and general obligation bond interest cost. Seemingly, this component of time may provide something unique or not available in other components of a constrained filing period (e.g. the fiscal year-end date to the audit report date). In post hoc analyses, we also find that both components of the constrained filing period in our setting (i.e. the audit report date to state filing date and the fiscal year-end date to audit report date) need to be considered for either of the components to be significant. Moreover, although both components are necessary, the audit report date to state filing date component appears to have a slightly stronger association (in terms of statistical significance) with general obligation bond interest costs.Research limitations/implicationsTo our knowledge, Illinois is the only state that provides a date stamp on when municipalities’ financial information is made publicly available on a centralized repository. As such we focus on municipalities in Illinois. While this increases the internal validity of our research, it potentially limits generalizability across other states. Also, as a reflection of the sample constraint, the number of observations in our study is relatively small. As part of post hoc analyses, we take a closer look at our sample, model and variables used to test our hypothesis.Practical implicationsFor stakeholders, each component of a constrained filing period may provide unique information. For example, the time period between an audit report date and a regulated filing date may send a positive signal about the quality of financial management to investors. For regulators, requiring some sort of centralized public access to municipal financial reports that have transparent time constraints may help states provide stronger governance and help lower municipalities’ borrowing costs.Originality/valueWe use a novel approach (with the Illinois date stamp filing information) to examine our research question. Most prior research has often relied on an assumption that the time between fiscal year-end and the audit report date is the component of time that provides useful information to investors (e.g. Henke and Maher, 2016). In our setting, we explore and find that a component of a constrained filing time period (i.e. the date from an audit filing to a required public accessibility filing) may also provide impactful information to investors.

Improving the Quality of Financial Reporting Through the Implementation of Microsoft Excel for SMEs in Parung Serab, Tangerang

Bookkeeping is one of the activities in financial management in Micro, Small, and Medium Enterprises (MSMEs) as an effort to improve the quality of financial reporting. The low quality of MSME financial reporting impacts other problems, such as reduced productivity and constraints on other MSME business processes. MSMEs experience this in Parung Serab Village, Tangerang. Parung Serab MSMEs experienced a decline in productivity due to a need for more consistency in reporting and financial management. Moreover, due to inconsistent financial management, MSMEs cannot open up and improve their finances, resulting in losses. Due to this problem, the team serves the community by assisting in simple bookkeeping using Microsoft Excel tools. This community service activity aims to improve the quality of MSME financial reporting through simple bookkeeping using a mentoring approach. This qualitative study uses data about the problems faced by MSMEs collected through an interview process. The subjects of this assistance are 15 MSMEs in Parung Serab, Ciledug. The result of this assistance is that with simple bookkeeping using Microsoft Excel format, MSMEs in Parung Serab have succeeded in maintaining consistency in financial management and reporting. This assistance means that by maintaining consistency in financial management, the quality of financial management and reporting and the productivity of MSMEs will increase.

STRATEGI KEUANGAN DALAM MENINGKATKAN KUALITAS MANAJEMEN KEUANGAN DI SMPN 3 CILEGON

This research aims to analyze and evaluate the financial strategies implemented in improving the quality of financial management at SMPN 3 Cilegon. Good quality financial management in schools is a crucial factor in supporting the achievement of educational goals and human resource development. The research method used is a qualitative approach. Data was collected through observation, interviews and analysis of documents related to school finances. This research will focus on identifying financial strategies that have been implemented, such as budget allocation, financial resource management, and financial performance evaluation. SWOT analysis will be used to evaluate strengths, weaknesses, opportunities and threats in implementing financial strategies at SMPN 3 Cilegon. It is hoped that the research results will provide a deeper understanding of the effectiveness of the financial strategies that have been implemented, as well as provide recommendations for improvements to improve financial management at SMPN 3 Cilegon. The implications of this research can be a basis for policy makers, school principals and related parties in designing strategic policies that are more effective in improving the quality of financial management in secondary level educational institutions

Asset management of an agricultural organization

In conditions of complete economic independence of enterprises, the quality of management in general and financial management in particular has a decisive influence on effective development. The main goal of financial management is the formation of own capital and its structure and quality are important. Any profitable production activity should provide a balanced material and technical base corresponding to the specialization of the enterprise. Given the current situation in the agro-industrial complex of the region, first of all, the fragmentation of the land by small users, the lack of business management experience in the market economy, improving the quality of financial management is extremely relevant. The proposed study is considered on the example of one of the leading agricultural enterprises in the region, which was established in 2004 having 20 hectares of land in use, and currently – 8144 hectares of land, so it is a sufficient basis for scientific research.

The Effect of Financial Management Quality, Product Innovation, and Digital Marketing on Micro Business Growth in the Jakarta Culinary Sector

This research investigates the dynamics of micro-business growth in the Jakarta Culinary Sector, focusing on the impact of Financial Management Quality (FMQ), Product Innovation (PI), and Digital Marketing (DM). A quantitative analysis involving a sample of 150 micro businesses reveals compelling insights. Results indicate significant positive relationships between FMQ, PI, and DM with Micro Business Growth (MBG). The study emphasizes the pivotal role of sound financial practices, innovation, and digital marketing in fostering growth within the competitive culinary landscape of Jakarta. Findings contribute to the understanding of success factors in micro-businesses, offering practical implications for entrepreneurs and policymakers.

Застосування програмного забезпечення в обліку бюджетних установ: переваги та недоліки

The article considers the application of software in the optimization of accounting processes of budget institutions. This study offers an overview of various software solutions used to automate budget accounting and financial management. The benefits of using the software are analysis, including improving the accuracy and efficiency of accounting processes, increasing transparency, and reducing the risk of errors. The article also considers the disadvantages of its use: possible problems related to data security, the cost of implementing and supporting programs. All these aspects allow you to get a complete overview of the use of software in the accounting of budget institutions, taking into account both positive and negative effects on the efficiency and quality of financial management.

INCENTIVING PERSONAL OF BUDGETARY ORGANIZATIONS BASE ON THE USE OF KEY PERFORMANCE INDICATORS

The article discusses issues of motivation and incentives for personnel of budgetary organizations. An analysis of recruiting companies showed that wages are an important incentive to perform work duties, capable of encouraging employees to achieve assigned tasks with high dedication and a focus on productive, efficient work. A well-designed and thoughtful system of personnel incentives has a beneficial effect on the quality and results of the work performed, and promotes creative and professional activity. The main requirements include higher education and (or) professional retraining, work experience in the areas where professional activities are carried out; the absence of outstanding or unexpunged convictions for crimes, as well as the presence of Russian citizenship. Additional requirements for personnel of budgetary organizations include — compliance with the Code of Ethics and Official Conduct of Public Sector Employees, detailed in accordance with the powers of state authorities (state bodies) or local governments provided for by the legislation of the Russian Federation. The implementation of key performance indicators in the budgetary sector must be agreed upon with an assessment of the quality of financial management, which will significantly improve the rating of the main managers of budget funds, which has an impact on the efficiency and effectiveness of the activities of government bodies.

Improving the quality of financial management in the public administration sector as an essential factor in ensuring the economic security of regions (using the example of the Siberian Federal District)

Improving the quality of financial management in the public administration sector as an essential factor in ensuring the economic security of regions (using the example of the Siberian Federal District)

Pengembangan Aplikasi Pengelolaan Infak dan Shodaqoh dengan Metode Rational Unified Process (RUP) pada Rumah Yatim Himmatul Ummah Al Islamiah di Kabupaten Kuningan

Himmatul Ummah Al Islamiah Orphanage in Kuningan Regency has a vital role in providing social assistance through the management of Infak and Shodaqoh. However, manual financial management presents challenges related to efficiency and transparency. Manual processes in managing Infak and Shodaqoh increase the risk of administrative errors, difficulty tracking funds, and lack of transparency in the distribution of donations. Therefore, technological innovation is needed to improve the effectiveness of financial management. This research aims to develop a web-based application that optimizes the Management of Infak and Shodaqoh in Orphanages, focusing on efficiency, transparency, and accountability. Application development is carried out by applying Rational Unified Process (RUP) as a structured system development method. Application design uses Unified Modeling Language (UML) to visually model the structure and functionality of the application. The results of the research are that the application developed has succeeded in increasing the efficiency of Infak and Shodaqoh management. The integration of RUP and UML ensures structured development and clear design, resulting in an easy-to-use, transparent, and accountable application. This research contributes positively to the effectiveness of Infak and Shodaqoh Management at Himmatul Ummah Al Islamiah Orphanage. The results can be used as a basis for similar charities to adopt similar technologies to improve the quality of financial management and donation distribution.

Sosialisasi Dan Pelatihan Penggunaan Aplikasi Buku Warung Bagi Para Pelaku UMKM Di Binong

Binong, an urban village in Tangerang Regency, Banten, is dominated by Micro, Small and Medium Enterprises (MSMEs), especially in Binong Village. MSMEs play a crucial role in economic growth and economic resilience. However, they face obstacles, including low education and lack of understanding of technology. This research highlights the improvement of accounting knowledge of Binong MSME players through the Warung Book Application. The community service program was implemented using socialization, training, and mentoring methods. The results show that before the program, MSME players had minimal knowledge of the Buku Warung App, but after the training, they were able to utilize it for daily bookkeeping efficiently. The Buku Warung application allows MSMEs to record finances easily and practically. This program is expected to improve the quality of financial management, support business growth, and have a positive impact on the local economy.

Determinants of the quality of financial management of insurance companies

This study is devoted to the analysis of the statistical relationship between the efficiency of an insurance company and a number of factors characterizing the structures of its assets. Efficiency in the study is considered as a metric that evaluates the quality of an organization’s management, which is the one of the most important characteristic of its financial stability.The empirical analysis was carried out using data from the financial statements of insurance companies for the period from 2017 to 2020 of the group of leaders in terms of insurance premiums of the Expert RA rating agency based on the results of 2020. Life insurance companies, reinsurance companies and mutual insurance companies were excluded from this list due to the specifics of their business and financial statements.For the companies included in the final sample, an assessment of overall efficiency was built. The methodology of its calculation is formulated and developed in [3, 14, 15]. It is based on Data Envelopment Analysis (DEA). The partial efficiency indicators obtained for a certain set of DEA model specifications are aggregated into several indicators using the principal component analysis method (PCA). It is important that there is a positive correlation between the overall efficiency indicator and the partial efficiency indicators.The first principal component acts as an indicator of overall efficiency, the others allow one to identify its sources. This makes it possible to compare companies that have the same overall efficiency.Further, for all representatives of the final sample, a regression model of the statistical relationship of overall efficiency with the characteristics of the asset structure was built. The model specification was performed based on the MFP (Multivariable Model-Building with Fractional Polynomials) algorithm [16, 17], which allows to adapt the specification of the regression model to the properties of the data and identify nonlinear statistical relationships.The results of the evaluation of the model allow us to assert that the general and, accordingly, all partial performance indicators have a statistical relationship with the selected characteristics of the asset structure. The nature of the relationship is predominantly nonlinear. The results obtained in the work can be useful in forming a strategy for managing the financial stability of an insurance company, as well as for potential partners and investors in solving the task of benchmarking.

Financial management of the company. Are there differences of opinion between owners and managers in the SME segment?

Research background: Financial management of small and medium-sized enterprises is an important area of corporate governance. The quality of financial management has a significant impact on the sustainability and development of these enterprises. In this context, there is a scientific interest to investigate how aspects of financial management are perceived by business owners and how they are considered by business managers. Purpose of the article: The aim of the article is to define and quantify the important attitudes in the field of financial management and to make a comparison of the attitudes of owners and managers of SMEs in this area. Methods: In order to achieve this objective, an empirical research was conducted to investigate the attitudes of small and medium-sized firms in the area of financial management, was conducted in June 2022 in the Czech Republic and Slovakia. In the Czech Republic, the total number of respondents was 347, of which 170 (49.0%) were owners and 177 (51.0%) were managers in senior management positions. In the Slovak Republic, the total number of respondents was 322, of which 179 were owners and 143 were managers. Findings & Value added: The attitudes of owners and managers in understanding the most important aspects of financial management are relatively high in both countries, and these attitudes were similar. Perceptons of financial risk differ between owners and managers in the Czech Republic. Financial risk is better perceived in the category of managers than in the category of SMEs owners. The correct perception of financial risk in Slovakia is at a slightly higher level than in the Czech Republic, while the perception of owners and managers is very similar. Business owners in both countries confirmed that they are better able to manage financial risks in the firm than managers (however, these differences were not statistically significant). Managers in Czech firms were more positive about financial performance compared to owners (statistically significant difference). Similarly in Slovakia (however, this was a statistically insignificant difference). These findings may be inspiring for the scientific field and also for economic policy in these countries.

Pengaruh Akuntabilitas Dan Transparansi Terhadap Kualitas Pengelolaan Keuangan Pada Bappelitbangda Kabupaten Sukabumi

The Effect of Accountability and Transparency on the Quality of Financial Management is the subject of this research. To collect data, observations and questionnaires with an ordinal Likert scale were used to process research data. This study used an associative method with a quantitative approach. The population in this study were heads, secretaries, treasurers, heads of fields, and group positions in the Regional Development Planning, Research and Development Agency of Sukabumi Regency. The sampling technique used is nonprobability sampling with saturated sampling technique, namely the entire population is used as a sample, totaling 42 samples. The test results using SPSS 25 For Windows, partially show that accountability has a positive effect on the quality of financial management of 5.698 and a significant of 0.000, transparency has a positive effect on the quality of financial management of 9.451 and a significant of 0.000. The simultaneous test results show that accountability and transparency have a positive effect on the quality of financial management of 43.587 and a significant value of 0.000.

Assistance in improving the quality of financial management of the oyster mushroom business for the disable persons at DPO Restu Abadi Purworejo

This community service activity is undertaken to enhance the quality of financial management, aiming to attain financial independence for members of business groups with disabilities. The approach involves training and mentoring, engaging both academics and practitioners specializing in financial literacy and inclusion. The success of this service program is evident in the increased knowledge and skills of the partners, encompassing the preparation of plans, business financial reports, financial literacy, and inclusion. Additionally, there has been an improvement in partners' access to financial institutions. The challenges of partner indiscipline in recording finances and pricing strategy problems can be effectively addressed through the use of the SIMAKE application. This application facilitates easy recording of transactions and determination of product prices.

Pengaruh Literasi Keuangan Dan Kualitas Manajemen Keuangan Terhadap Kinerja Keuangan Pada UMKM Salon Di Toraja Utara

This study aims to determine whether the variables Financial Literacy and Quality of Financial Management affect Financial Perfomance. The type of research used in this research is descriptive quantitative. The types of data used in this study are primany data and secondary data, wiht data collection techniques using questionnaires. The data analyis technique used is data quality test, classic assumption test, coefficient of determination test, multiple linear regression analysisi, and hypothesis testing. The results of this study indicate that partially Financial Literacy has no significant effect on Financial Performance at Salon SMES in North Toraja, this can be seen in the results of the t test where the sig value is 0,296 > 0,05, while the Ouality of Financial Management partially has a significant effect on Performance Finance in Salon MSMES IN North Toraja, where the sig value is 0,001 < 0,05, and when viewed simultaneously Financial Literacy and Financial Management Quality have a significant positive effect on Financial Performance in Salon MSMEs in North Toraja this can be seen in the results of the F test which where the significance value is 0,001 < 0,05.

Monitoring the Quality of Financial Management of Governmental Bodies: Analytical and Management Aspects of Application

One of the main results of reforming the budget process of the Russian Federation in the middle of the 2000s was the widespread implementation of the approach to the work of the executive power, in which budget funds are allocated in accordance with the expected results. Performance indexes are necessarily developed for government programs, national projects, and other strategic planning documents. Finally, monitoring by indexes is increasingly being used as a tool for evaluating the performance of executive authorities and officials. Is this approach expedient in any case? Is it always possible to use monitoring by indexes as a basis of the performance evaluating system for civil servants?This study considers the feasibility of including the results of assessing the quality of financial management of budget managers in the system of indexes for assessing the activities of executive bodies of state power of the Russian Federation constituent entity.The study is focused on distinctive features of monitoring the financial management quality of budget funds’ managers, which make it difficult to use for a sound judgment about the efficiency of the participants of the budget process. In the course of the study, an analysis was carried out by the method of comparison and correlation of Pearson using data from the following sources: the official website of the Committee of Finance of St. Petersburg, the state information system for information and analytical support of the activities of the executive bodies of state power in St. Petersburg and the automated system of the budget process of St. Petersburg.As a conclusion, arguments are provided not to use the results of monitoring the financial management quality, conducted by the financial authorities of the Russian Federation regions, due to its inherent specificity and its special role in the system of minimizing budgetary risks. The observations and conclusions made can be useful for further studies of key performance indexes’ systems for government bodies.

The use of management accounting and financial accounting in financial management based on multiple linear regression algorithm

Abstract Artificial intelligence has had varying degrees of impact on various industries, and many traditional financial tasks have been replaced by artificial robots, which will inevitably lead to the transformation of financial accounting to management accounting, which is also the key to the continuous development of enterprises. Firstly, this paper proposes a multiple linear regression algorithm, which is solved by the classical least squares method, while the parity results of the least squares method are relatively stable and generally do not have valuation drift. Then, we analyze management accounting and financial accounting, analyze the importance of using both in enterprise financial management and propose some specific application paths based on this to provide help for enterprise financial management. Finally, a multiple regression algorithm is used to analyze management accounting and financial accounting data. The regression analysis results showed that the coefficient of management accounting and financial accounting change and the degree of competition was 0.7952, t=2.4457, F=5.9813, R2=0.0520, and management accounting and financial accounting change were not significantly influenced by the size of the enterprise and competition. This study improves the traditional accounting concept, establishes a perfect accounting system, realizes the integration of organizations, and pays attention to the importance of consolidating original resources to provide some theoretical guidance for the effective improvement of enterprise financial management quality.