.... In passing the 1990 Chief Financial Officers (CFO) Act and other financial management reform legislation, such as the Government Management Reform Act and the Federal Financial Management Improvement Act (FFMIA...
Monir Mir; Wahyu Sutiyono
Indonesia has taken initiatives to reform its public sector financial management. One of the reform agendas was to introduce ‘cash to accrual’ accounting for improved financial reporting. It is expected that improved financial reporting will enhance financial accountabilities of the governmental agencies and will assist both internal and external decision makers whose decisions will be based on the financial reports. However, it has been observed that there is a significant increa...
Full Text Available Indonesia has taken initiatives to reform its public sector financial management. One of the reform agendas was to introduce ‘cash to accrual’ accounting for improved financial reporting. It is expected that improved financial reporting will enhance financial accountabilities of the governmental agencies and will assist both internal and external decision makers whose decisions will be based on the financial reports. However, it has been observed that there is a significant increase in the number of qualified audit reports when these financial reports were audited. This also means that these financial reports are lacking in providing true and fair views on the financial activities of the governmental agencies, thereby not assisting in discharging their accountabilities. This study seeks to answer the question as to why the numbers of qualified audit reports have increased despite the existence of various governmental accounting reform agendas. Based on the in-depth case studies of three Indonesian local governments, it is found that the demand, the supply and the quality assurance of the accounting information outputs in these local governments are not in parity, and this lacking in parties actually has impacted in producing unqualified and usable accounting reports.
..., in particular, has resulted in steady improvement we have seen across government. At the same time, as we testified before the Subcommittee on March 31, 2000, on the same results of our review of the fiscal year 1999 Financial Report of the U.S...
Caprio Jr, Gerard; Atiyas, Izak; Hanson, James
The argument in favor of gradual - but sustained - financial reform is based on two factors. First, the development of borrower net worth will determine the health of the real and, ultimately, the financial sector. Thus, speeding up reforms when borrower net worth is subject to positive shocks - or slowing them when it is subject to negative shocks - appears sensible and appears to have worked better in practice. Second, the initial conditions of the banking sector - not just its net worth bu...
Full Text Available Background: Health financial reforms began in 2005 through four phases in order to achieve the maximum efficiency and effectiveness in this sector. The first phase was accrual accounting implementation instead of cash method. Objective: The aim of this study was to determine the most important improvement spaces of the first phase of reform in financial management (accrual accounting in the viewpoints of financial experts employed in middle and operational levels of Universities of Medical Sciences. Methods: This qualitative study was conducted in Universities of Medical Sciences in 2013 using non-probability sampling method (snowball. Saturation was achieved only after 25 semi-structured interviews. Data were analyzed using content analysis by Kruger model. Findings: Seven areas of improvement including staffs, managers, information system, organizational culture, structure, process, and financial were identified as main themes. Each theme contained several sub-themes. Conclusion: Attempts and planning should be considered by decision makers in order to improve modifiable determinants through practical mechanisms in the first phase of health system financial management.
Abolhallaje, Masoud; Jafari, Mehdi; Seyedin, Hesam; Salehi, Masoud
Financial management and accounting reform in the public sectors was started in 2000. Moving from cash-based to accrual-based is considered as the key component of these reforms and adjustments in the public sector. Performing this reform in the health system is a part of a bigger reform under the new public management. The current study aimed to analyze the movement from cash-based to accrual-based accounting in the health sector in Iran. This comparative study was conducted in 2013 to compare financial management and movement from cash-based to accrual-based accounting in health sector in the countries such as the United States, Britain, Canada, Australia, New Zealand, and Iran. Library resources and reputable databases such as Medline, Elsevier, Index Copernicus, DOAJ, EBSCO-CINAHL and SID, and Iranmedex were searched. Fish cards were used to collect the data. Data were compared and analyzed using comparative tables. Developed countries have implemented accrual-based accounting and utilized the valid, reliable and practical information in accrual-based reporting in different areas such as price and tariffs setting, operational budgeting, public accounting, performance evaluation and comparison and evidence based decision making. In Iran, however, only a few public organizations such as the municipalities and the universities of medical sciences use accrual-based accounting, but despite what is required by law, the other public organizations do not use accrual-based accounting. There are advantages in applying accrual-based accounting in the public sector which certainly depends on how this system is implemented in the sector.
Abolhallaje, Masoud; Jafari, Mehdi; Seyedin, Hesam; Salehi, Masoud
Background: Financial management and accounting reform in the public sectors was started in 2000. Moving from cash-based to accrual-based is considered as the key component of these reforms and adjustments in the public sector. Performing this reform in the health system is a part of a bigger reform under the new public management. Objectives: The current study aimed to analyze the movement from cash-based to accrual-based accounting in the health sector in Iran. Patients and Methods: This comparative study was conducted in 2013 to compare financial management and movement from cash-based to accrual-based accounting in health sector in the countries such as the United States, Britain, Canada, Australia, New Zealand, and Iran. Library resources and reputable databases such as Medline, Elsevier, Index Copernicus, DOAJ, EBSCO-CINAHL and SID, and Iranmedex were searched. Fish cards were used to collect the data. Data were compared and analyzed using comparative tables. Results: Developed countries have implemented accrual-based accounting and utilized the valid, reliable and practical information in accrual-based reporting in different areas such as price and tariffs setting, operational budgeting, public accounting, performance evaluation and comparison and evidence based decision making. In Iran, however, only a few public organizations such as the municipalities and the universities of medical sciences use accrual-based accounting, but despite what is required by law, the other public organizations do not use accrual-based accounting. Conclusions: There are advantages in applying accrual-based accounting in the public sector which certainly depends on how this system is implemented in the sector. PMID:25763194
Full Text Available With increasing frequency, the two highly interrelated subjects of municipal budgeting and effective financial management are becoming ever more central to discussions of local governance reform in Latin America. Among the most important factors contributing to this are the growing concern throughout the hemisphere about the decentralization of governmental services and the expanding influence of elected mayors. For at least a decade, governments from Mexico to Argentina, have been discussing and, in some cases, actually carrying out, efforts to decentralize to the local level public service provision in such important program areas as economic development, education, health services and housing.
Helene Poirson Ward
India's planned pension reform will set up a proper regulatory framework for the pension industry and open up the sector to private fund managers. Drawing on international experiences, the paper highlights pre-conditions for the reform to kick-start financial development, including: (i) the buildup of critical mass; (ii) sufficiently flexible investment guidelines and regulations, including on investments abroad; and (iii) concurrent reforms in capital markets. Given the limited scale of the ...
Morgan, Peter J.; Pontines, Victor
The purpose of this study is to better understand the likely impact on Asian economies and financial institutions of various recent global financial reforms, including Basel III capital adequacy and liquidity rules. Part one reviews the lessons of the global financial crisis (GFC) of 2007â€“09 and their relevance for Asian economies. Part two describes the major regulatory reforms that have been announced and possible concerns about their impacts on emerging economies. Part three reviews the ...
Pacheco Cueva, Vladimir
This article identifies the rationale and trajectory of finance sector reform as part of the donor-sponsored Comprehensive Reform Program (CRP) in Vanuatu and provides an analysis of the problems associated with the lack of affordable credit for sectors of the population that do not fulfill...... commercial lending criteria. The article relies on financial hegemony theory in order to explain Vanuatu's role within larger international financial structures and rationale for reform. The discussion shows that foreign banking institutions are not interested in broadening credit access to poorer sections...
Based on public financial system, high education system, interior administration system of universities and financial management in universities, this thesis discusses the necessity of the reform of financial management system in universities. The author analyzes the present situation on the basis of the evolution of financial management in universities, and proposes that the reform should comply with some principles, such as external following principle, internal adapting principle, the unity of financial power and daily issues, and the centralization and separation of powers. The author also proposes a general direction and basic path fo the reform, namely, a united leadership, a leveled management and a cen-tralized accounting.%本文从公共财政体制、高等教育体制、高校内部管理体制、高校财务管理等方面的改革阐述了高校财务管理体制改革的必要性；在梳理高校财务管理体制的演变的基础上分析了现状，提出高校财务管理体制改革必须遵循外部遵循性原则、内部适应性原则、财权和事权相统一原则、集权与分权相结合原则，必须正确处理好财权与事权的关系、集权与分权的关系、财务管理与会计核算的关系；阐明了新时期高校财务管理体制改革的总体方向和基本路径，即统一领导、分级管理、集中核算。
I.P. van Staveren (Irene)
textabstractThe paper analyses the financial crisis and financial reform from two alternative ethical perspectives as compared to the mainstream one in economics, utilitarianism. It contrasts deontology with the ethics of care and argues that the rule-based deontological approach is not able to
Testimony: Statement of Paul J. Granetto Director Defense Financial Auditing Service Office of the Inspector General Department of Defense to the Subcommittee on Government Efficiency and Financial Management House Government Reform Committee on Defense Financial Management
.... Decision-makers responsible for planning military actions need reliable financial information so that they can prudently manage available resources and allocate dollars to those processes that yield...
International Monetary Fund
This Background Paper examines issues in Uganda’s financial sector reform. In Uganda, reforms in the financial sector have included the liberalization of interest rates, the development of instruments of indirect monetary control, the modernization of banking legislation, the restructuring of the central bank, and reforms in the commercial banking system. These reforms are aimed at improving monetary management, which would enhance the prospects for achieving stabilization. Ultimately, financ...
May 20, 2011 ... An International Multi-Disciplinary Journal, Ethiopia. Vol. 5 (3), Serial No. ... reform in Nigeria on some financial sector and real sector variables. The ... quantitative restrictions on lending, high reserve requirement as the causes of negative and ... graphical analysis of the outcome of the two era. In section ...
Financial Management: Education Faces Challenges in Achieving Financial Management Reform. Testimony before the Subcommittee on Oversight and Investigations, Committee on Education and the Workforce, House of Representatives.
Jarmon, Gloria L.
This report provides a fiscal analysis of the Department of Education's 1999 financial audit results. It focuses on the relationship between the audit findings and the potential for waste, fraud, and abuse, and examines the status of an ongoing study of the Department's grantback account. It describes the ongoing accounting problems that have…
Catalin-Florinel Stanescu; Laurentiu Mircea Simion
Concerns about the financial risk is increasing. In this climate, companies of all types and sizes want a robust framework for financial risk management to meet compliance requirements, contribute to better decision making and increase performance. Financial risk management professionals working with financial institutions and other corporate clients to achieve these objectives.
This paper examines the financial system reforms in the context of financial sector deepening, and strategy for financial sector development and inclusion in Uganda. Results suggest that the indicators of financial sector development are largely as they were in 1996 and that the actual gains from financial inclusion strategies are small. Evidence suggests a weak link between financial deepening and financial usage by firms and households. It finds the acclaimed success (by policy makers and s...
This article reviewed the history of Zhong He Shanxi Uranium Enrichment Company, summarizing an efficient and systematical financial management method during both construction period and operational period of the company. It related to fundamental financial management structure building, integrated budgeting, fund management, cost management, asset management, tax planning and HR management. of financial staffs. (author)
Full Text Available The openness and liberalization of China’s financial market is expected to accelerate with her entrance to the WTO. China plans to carry out liberalization measures, including the expansion of the Renminbi business scope. Openness and liberalization will expedite the integration of internal and external sectors, thereby making the domestic financial market more vulnerable to environmental changes. Consequently, China should establish a strong financial system to efficiently cope with the contagion effects of an external financial crisis. However, China’s financial system is still very weak, mainly due to the enormous bad loans to SOEs (state-owned enterprises. Accordingly, the Chinese government should carry out financial reform measures such as strengthening the financial supervision system, dealing with bad bank loans and restructuring the financial institutions. On the whole, China’s entrance to the WTO is expected to have a positive influence on her financial sector by accelerating such reform policies as financial reform and SOE reform. Entrance to the WTO will make society recognize the necessity of reform and openness. The Chinese government can decide to push some difficult reform policies which would not have been considered without WTO entrance.
Full Text Available This paper presents a brief history of the financial reform designed by Nicolae Titulescu at the beginning of the 1920’s. His tax reform law was formulated after thorough research of other European tax systems. He tried to implement it while he was Minister of Finance. Even though the law was adopted, it was never enacted. It met a certain amount of controversy in the Assembly of Deputies. The analysis made also tries to explain the cedular tax system.
Based on a comparative study of China’s three-decade financial system reform and the financial reform model of Russia and selected Eastern European countries, we found noticeable discrepancies between China and other transitional countries in respect to objective setting, path and sequence selection, power sources and advancement strategy. We conclude that a "China model" of nancial system reform does exist. The formation and evolution of the "China model" is closely related to China’s special political and economic environment. More importantly, it is significantly influenced by China’s overall economic reform model as well.
Eswar S. Prasad
This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial development and broader financial inclusion. I argue that these objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that have impl...
Mügge, D.; Stellinga, B.
The credit crisis that began in the summer of 2007 has fundamentally challenged much financial regulation and the political institutions that produced it. Measured against the criticisms that have been brought forth against previous financial governance, the extent of governments’ overall reform
Since economic adjustments and financial reforms were undertaken in the early 1990's ... bank investments and cost of intermediation during the pre-financial sector ... It also showed increased fiscal discipline, improved prudential regulations and ... The negative results were caused by lack of a supportive policy, legal, and ...
Pison F. Irene
Full Text Available A diagnostic review of the Spanish financial system during the 2008 financial crisis reveals the emergency need for banking reform in the sector. In an attempt to evaluate the impact of the Spanish reform, the present study examines the bank´s performance before/after the reform was adopted, using data of 19 Spanish commercial banks extracted from the Global Vantage research database (Standard and Poor’s over the period 2006 to 2013. This study uses multivariable regression method to investigate the impact of the CAMELS rating system: capital adequacy, asset quality, management quality, liquidity and sensitivity to market risks on the bank´s performance such as earnings efficiency. The time-line of the study is essential because it helps us to determine the financial performance of Spanish commercial banks before the banking reforms during the financial crisis and an important set in terms of mergers and acquisition in the banking industry. The empirical results have found strong and positive evidence that Capital Adequacy, Management Capacity, Liquidity and Sensitivity to Market Risk are useful predictors of banks performance (earnings efficiency, thus, any reform pilot toward this banking indicators will eventually have a positive impact on banking performance. Base on the present study, the Spanish reform was so vital for better banking performance. Therefore, this study serves not only to academics but also to policy makers
Gezelius, Stig S.; Raakjær, Jesper; Hegland, Troels Jacob
ABSTRACT: The ability to transform historical learning into institutional reform is a key to success in the management of common pool natural resources. Based on a model of institutional inertia and a comparative analysis of Northeast Atlantic fisheries management from 1945 to the present....... Institutional inertia entails that large-scale management reform tends to be crisis driven....
Full Text Available The global financial crisis that started in the U.S. had an immediate spillover to the rest of the world financial markets. Next, a decrease in real economic output throughout the developed world occurred simultaneously with high bailout costs for the salvaging of banks and other financial institutions. This vicious combination was at the core of the bank-sovereign interdependence and the sovereign debt crisis of the eurozone. As early as 2008, the G20 announced a thorough global reform agenda with an aim to tackle the root causes of the crises and to transform the system of global financial regulation. Some important reform steps have been made; still, more than six years on, the job is not finished. Where are we in terms of global financial reform, and are we close to creating a more secure global financial system significantly less prone to crisis and bailouts with taxpayers’ money? [Projekat Ministarstva nauke Republike Srbije, br. 179005: Risks of Financial Institutions and Markets in Serbia - A Microeconomic and Macroeconomic Approach
reforms in the regulatory treatment of large financial institutions deemed ‘too big to fail’. Actors debating and developing policy on ‘too big to fail’ may have formal defined constituencies, as regulators, academics or lobbying organisations, but in their transnational interactions they are also...
reforms in the regulatory treatment of large financial institutions deemed ‘too big to fail’. Actors debating and developing policy on ‘too big to fail’ may have formal defined constituencies, as regulators, academics or lobbying organisations, but in their transnational interactions they are also...
Seabrooke, Leonard; Tsingou, Eleni
the different stresses in reports with and without clear mandates, and the role of important members of the policy community in promoting particular reform ideas. The article finds that differences in ideas emerging from the financial reform expert groups reflect nested power relationships in the commissioning...... the reports. Fractal distinctions, such as between ‘behavior’ or ‘system’ as a reform focus, allow us to locate the object of regulation within expert groups, experts’ professional context, and the politics behind the commissioning of work. Analyzing fractal distinctions provides a useful way to understand...... of work, constituent audiences, and reform priorities among governing institutions, rather than distinct ‘European’ and ‘American’ ideas....
Seabrooke, Leonard; Tsingou, Eleni
to understand the different stresses in reports with and without clear mandates, and the role of important members of the policy community in promoting particular reform ideas. The contribution finds that differences in ideas emerging from the financial reform expert groups reflect nested power relationships...... the reports. Fractal distinctions, such as between ‘behaviour’ or ‘system’ as a reform focus, allow us to locate the object of regulation within expert groups, the experts' professional context and the politics behind the commissioning of work. Analysing fractal distinctions provides a useful way...... in the commissioning of work, constituent audiences and reform priorities among governing institutions, rather than distinct ‘European’ and ‘American’ ideas....
Having worked in the Employees and Commercial Payments Branch of the Financial Management Division for the past 3 summers, I have seen the many changes that have occurred within the NASA organization. As I return each summer, I find that new programs and systems have been adapted to better serve the needs of the Center and of the Agency. The NASA Agency has transformed itself the past couple years with the implementation of the Integrated Financial Management Program (IFMP). IFMP is designed to allow the Agency to improve its management of its Financial, Physical, and Human Resources through the use of multiple enterprise module applications. With my mentor, Joseph Kan, being the branch chief of the Employees and Commercial Payments Branch, I have been exposed to several modules, such as Travel Manager, WebTads, and Core Financial/SAP, which were implemented in the last couple of years under the IFMP. The implementation of these agency-wide systems has sometimes proven to be troublesome. Prior to IFMP, each NASA Center utilizes their own systems for Payroll, Travel, Accounts Payable, etc. But with the implementation of the Integrated Financial Management Program, all the "legacy" systems had to be eliminated. As a result, a great deal of enhancement and preparation work is necessary to ease the transformation from the old systems to the new. All this work occurs simultaneously; for example, e-Payroll will "go live" in several months, but a system like Travel Manager will need to have information upgraded within the system to meet the requirements set by Headquarters. My assignments this summer have given me the opportunity to become involved with such work. So far, I have been given the opportunity to participate in projects resulting from a congressional request, several bankcard reconciliations, updating routing lists for Travel Manager, updating the majordomo list for Travel Manager approvers and point of contacts, and a NASA Headquarters project involving
Although textbooks present corporate finance using a topical approach, good financial management requires an organic approach that integrates the various assignments financial managers confront every day. Breaking the tasks into meaningful subcategories, the current article offers one approach.
Full Text Available The financial market is one of the elements of the market-oriented economy. The financial analysis is a fundamental element of the financial controlling business. The purpose of this article is to inform briefly about horizontal and vertical financial statements analysis as the source of competitive advantage of the firm. The article is divided into two parts. First describes financial analysis and financial statements generally. Second, it presents a practical contribution of the horizontal and vertical financial statements analysis at the controlled businesses as financial management tools, which identify the financial position, market behaviour, correlations between the net profit and the prohibitively cost and operating profit, the financial activities profit, the income tax etc.Business, which the analysed firm operates in asks a provable claim on the high value of fixed assets. The capital composition of the firm is call to typify for the state-owned enterprise that was transformed to private joint-stock companies. Analysis is specially pleading for the needs considering the price of the borrowed capital in the capital structure rating. Fault factor ø value talks about needs for the cost regulation. Stair-step conception used for counting of the net profit in the accountant period indicates the financial profit, alternatively loss, as the distinguished pre-tax profit element. Picture about firms financial results can be completed with the information about the income tax value. Form of financial analyses presented in the article entablature the accents on the necessity to compare several accounting period and on the necessity of complex understanding of statements accounting slide en bloc.Financial analyse makes the decision makers possible to screen potential partners before the cooperation starts. On the other side, it makes a possibility to influence the production process, sales and financial management during the accounting
In Africa financial systems have been shackled with extensive, imprudent regulations operated on inefficient grounds and dominated by few institutions, mainly state commercial banks. Common among most of these systems have been controls on interest rates; extensive government borrowing; directed lending and ...
Conneely, James F.
Strong financial management is a strategy for strategic planning success in student affairs. It is crucial that student affairs professionals understand the necessity of linking their strategic planning with their financial management processes. An effective strategic planner needs strong financial management skills to implement the plan over…
Full Text Available Since the early 1990s the Australian Commonwealth public sector has undergone significant financialreforms, due primarily to the current federal Liberal government’s drive to improve the financialaccountability of the Commonwealth Government. These reforms include the adoption of accrualaccounting and budgeting and the development and implementation of an outcomes and outputs framework.These reforms culminated in the first full federal budget to be developed on an accrual basis in 1999 – 2000.This paper will examine the implementation of these reforms and the associated processes to determinewhether or not the Commonwealth government is more financially transparent and better able to dischargeits financial accountability. It is argued the complexity of the processes associated with, and the reportingrequirements of these reforms may have actually decreased the level of accountability to the key party towhom accountability is due — the Australian public.
Lacaria, Chris J.
The scope of this paper is to discuss the financial management of a construction contractor. This paper attempts to approach this subject in a logical and systematic way. It communicates the importance of financial analysis and planning along with cash planning and profit planning. This report is not intended to be an all inclusive discussion of financial management in construction. Contractor's Financial Management is an extremely important subject. It has been told ...
The coming of knowledge economy creates unprecedented situation of economy development. The trend of education's globalization as well as communication means frequently updated severely hit the system of financial management. Along with the deep going of education industrialization, and development of logistics management socialization, system and content of university financial management are increasingly expending and getting more and more complex that result in new challenge and problems to financial management. In order to step up with university development of internationalization and the logistics development of socialization, the financial management has to reform in response to this new challenge and trend.
Gordeev, Vladimir S; Pavlova, Milena; Groot, Wim
This paper reviews the empirical evidence on the outcomes of the financial reforms in the Russian public healthcare sector. A systematic literature review identified 37 relevant publications that presented empirical evidence on changes in quality, equity, efficiency and sustainability in public healthcare provision due to the Russian public healthcare financial reforms. Evidence suggests that there are substantial inter-regional inequalities across income groups both in terms of financing and access to public healthcare services. There are large efficiency differences between regions, along with inter-regional variations in payment and reimbursement mechanisms. Informal and quasi-formal payments deteriorate access to public healthcare services and undermine the overall financing sustainability. The public healthcare sector is still underfinanced, although the implementation of health insurance gave some premises for future increases of efficiency. Overall, the available empirical data are not sufficient for an evidence-based evaluation of the reforms. More studies on the quality, equity, efficiency and sustainability impact of the reforms are needed. Future reforms should focus on the implementation of cost-efficiency and cost-control mechanisms; provide incentives for better allocation and distribution of resources; tackle problems in equity in access and financing; implement a system of quality controls; and stimulate healthy competition between insurance companies. Copyright © 2010 Elsevier Ireland Ltd. All rights reserved.
Honoré, Peggy A; Costich, Julia F
The absence of appropriate financial management competencies has impeded progress in advancing the field of public health finance. It also inhibits the ability to professionalize this sector of the workforce. Financial managers should play a critical role by providing information relevant to decision making. The lack of fundamental financial management knowledge and skills is a barrier to fulfilling this role. A national expert committee was convened to examine this issue. The committee reviewed standards related to financial and business management practices within public health and closely related areas. Alignments were made with national standards such as those established for government chief financial officers. On the basis of this analysis, a comprehensive set of public health financial management competencies was identified and examined further by a review panel. At a minimum, the competencies can be used to define job descriptions, assess job performance, identify critical gaps in financial analysis, create career paths, and design educational programs.
... are confined to comparable organizations and financial management positions in the services. These positions most often include comptrollers, deputy comptrollers, and budget officers located at operational...
Persida Cechin Crista
Full Text Available Financial stability has a crucial role in the financial system and in the economy as a whole, as shown by the current worldwide economic crisis. Therefore, in order to protect the financial system and to ensure financial stability, the identification of the main risk and vulnerability sources is of utmost importance. All involved parties, as well as financial institutions and supervision authorities need to be informed about the risks.Banks, insurance companies and other financial institutions represent the first line of defence against financial crises. These institutions are responsible for maintaining their viability and solvency, as well as for checking the debtors’ credit worthiness and for managing the undertaken risks.
One of the basic goals of financial management is to provide financial property and capital for running of the firm, as well as for its development, that means provide optimal firm´s liquidity.To improve liquidity is possible provide through various ways. In present time there is increasing importance of financial planning., where planning of liquidity presents one of its integral part. Therefore I deal in presented paper with possible liquidity improvement through calculation of financial pl...
Full Text Available The essence and nature of financial risks are investigated. Their classification is conducted. The features of financial risk management and the main methods of management are considered. The ways of risk compensation are identified. It is proved that the objective external risk basis is such market imperfections as externalities of enterprises and incomplete information about the operation of the business environment and internal objective basis risk – the objective function to maximise profits in a competitive environment. It is revealed that to compensate market imperfections business entities should develop a strategy that combines fill in missing information and neutralise or minimise externalities that tactically implemented in financial risk management programs.
Smith, Pam; Mackintosh, Maureen; Ross, Fiona; Clayton, Julie; Price, Linnie; Christian, Sara; Byng, Richard; Allan, Helen
This paper examines how the interaction between financial and clinical risk at two critical phases of health care reform in England has been experienced by frontline staff caring for vulnerable patients with long term conditions. The paper draws on contracting theory and two interdisciplinary and in-depth qualitative research studies undertaken in 1995 and 2007. Methods common to both studies included documentary analysis and interviews with managers and front line professionals. The 1995 study employed action-based research and included observation of community care; the 2007 study used realistic evaluation and included engagement with service user groups. In both reform processes, financial risk was increasingly devolved to frontline practitioners and smaller organizational units such as GP commissioning groups, with payment by unit of activity, aimed at changing professionals' behaviour. This financing increased perceived clinical risk and fragmented the delivery of health and social care services requiring staff efforts to improve collaboration and integration, and created some perverse incentives and staff demoralisation. Health services reform should only shift financial risk to frontline professionals to the extent that it can be efficiently borne. Where team work is required, contracts should reward collaborative multi-professional activity.
The Federal Financial Management Improvement Act of 1996 requires DoD financial management systems to comply substantially with Federal financial management system requirements, Federal accounting standards, and the U.S...
A. V. Kondratyeva
In the dissertation research looks at the problem of the study. This article contains material research and evaluate different points of view on the issue of a systematic approach using educational management in the implementation of reforms.
Full Text Available The paper offers a critical assessment of the financial reforms adopted or proposed at the European level. The reshaping of the EU institutional architecture and the adoption of the new Basel 3 rules should reduce the national margins of discretion that have up to now characterised supervisory practices, often leading to light touch supervision, and restrain the growth of bankarisation, hence excessive systemic leveraging. However, the limitations of a purely prudential approach to regulation may not be overcome by setting up new institutions and make prudential requirements more stringent. In addition, given unavoidable national banking specificities, more severe rulebooks homogenously applied across the EU countries could further worsen the inconsistencies of a one-size-fits-all rule. The criticisms directed at the new regulatory framework assume particular relevance in the EU, whose peculiar construction requires that the financial sector should not be permitted to jeopardise its critical fiscal equilibrium. This opens the way to the adoption of structural measures, as the one presented by the Vickers Commission on ring-fencing. Looking at the financial system as a whole, we argue that even these measures do not offer effective protection for the economy and tax-payers, and that much more radical interventions are needed.
Alina Ligia Dumitrescu
Full Text Available Coordination among supervisors in financial and banking system is vital, but the financial crisis has shown that is not enough, and especially in the context of a single currency would require more common actions in EU. Therefore, the European Commission proposed “the creation of a banking union”, in order to place the banking sector on a more solid base and to restore confidence in the single currency, as part of a longer-term vision for the promotion of the economic and fiscal integration. Therefore, the new direction of the reform of the financial sector is "the creation of a banking union", that will help: to strengthen banks supervision, to ensure better deposits security, to recapitalize banks and last but not least to achieve the centralized management of the banking crises.
Editorial Staff, Jce
This report announces the retirement of Mary Orna from the position of Publication Manager of JCE and gives information on the Board of Publication decision to change the management of the Journal 's business and financial affairs to a new system consisting of a treasurer and a business manager, and announces the appointments to those positions.
N. V. Myroshnyk
Full Text Available The concept «finance» is defined. It is investigated that in conditions of the market economy for effective management of financial resources the provision of enterprise activities with optimal amount of the financial resources, their rational use, the profit maximization, and the provision of market cost of enterprise are necessary. In conditions of the market economy the issues of improvement of management of production processes, efficient use of financial, labor and material resources become urgent. To solve such problems, the enterprise administrations should be aware of the knowledge of economics, production technologies, and finance.
Hong-Bum Kim; Chung Lee
In the wake of the economic crisis of 1997-98 South Korea undertook a number of reforms in financial supervision. In spite of these reforms doubts have been raised as to whether Korea has in fact succeeded in creating a system of financial supervision capable of dealing with certain risks and responding to new challenges appropriately. This paper argues that because of institutional interdependency a successful institutional reform requires changing not only the particular institution at issu...
Full Text Available One of the basic goals of financial management is to provide financial property and capital for running of the firm, as well as for its development, that means provide optimal firm´s liquidity.To improve liquidity is possible provide through various ways. In present time there is increasing importance of financial planning., where planning of liquidity presents one of its integral part. Therefore I deal in presented paper with possible liquidity improvement through calculation of financial planning in chosen slovac magnesite firm, exploitating and elaborating magnesite raw material.For creating of financial plann of liquidity I chosed to use one of the practical methods - method of financial indexes. Such method presents process of planning optimal liquidity with providing of required rentability. Such plann must provide balance between income and outcome, as well as secure achievment of expected profit.I used tools of financial planning for calculation of possible liquidity improvement in mentioned firm, where present financial situation is characterised by law liquidity, but high rentability. Such position presents transitive crisis situation, therefore firm must create new financial property or decrease liabilities, in order to overcome negative state of liquidity.Performed calculation showed, that change in balance sheet due to the growth of financial property will improve liquidity, rentability will be maintained, therefore firm will be able to transit from crisis situation.Providing of liquidity will present one of possible way how to care for financial health of firm. But such process is not simple, it must be done with connection to the changes of internal and external conditions of the firm.
mêçÅÉÉÇáåÖë= çÑ=íÜÉ= bfdeqe=^kkr^i=^`nrfpfqflk== obpb^o`e=pvjmlpfrj== qeropa^v=pbppflkp== slirjb ff Developing Program Management Leadership for...4. TITLE AND SUBTITLE Developing Program Management Leadership for Acquisition Reform 5a. CONTRACT NUMBER 5b. GRANT NUMBER 5c. PROGRAM ELEMENT...Developing Program Management Leadership for Acquisition Reform The 8th Annual Acquisition Research Symposium Panel #20: Investing in People
... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Financial management. 1260.26 Section 1260... AGREEMENTS General Provisions § 1260.26 Financial management. Financial Management August 2003 (a) Advance payments through a Letter of Credit will be made by the Financial Management Office of the NASA Center...
Full Text Available This paper examines whether Nigeria witnessed considerable savings mobilization amidst financial sector reforms from 2007 to 2015 using the estimation method of Autoregressive Distributed Lag. Unlike previous papers in this area that mostly focused on interest rates liberalization thesis, this paper goes deeper by looking at financial reforms across money, capital and foreign exchange markets. The estimation results show that there are still structural rigidities in the money, foreign exchange and equity markets nexus. In that, the following variables that proxy financial sector reforms namely treasury bill yield, interest rate spread, market capitalization ratio and currency in circulation ratio (which proxy technological modernization of payment systems all went against a priori expectation. However, financial reforms had one success story in credit/loans advances to private/public sectors (financial deepening which posted its correct economic sign. In sum, except for the financial deepening variable it can be safely concluded that financial reforms in Nigeria is yet to positively impact savings mobilization. The regulatory and reform authorities must show effectiveness in reforms implementation.
Akhtyamov M.K.; Gonchar E.A.
The paper studies an objective appraisal of financial capital value in industrial enterprise development management. The authors draw attention to a limited scope of work in the area of financial management under application of a traditional approach to appraisal of enterprise financial capital value and describe a new advanced approach to this problem solving. The paper focuses on reformation of balance sheet statement, in which economic benefit and reserves of financial capital are included...
Tronc, Keith, Ed.
Because Australian school principals are being given increasing autonomy, knowledge of basic accounting principles and skill in elementary financial management are becoming more necessary. This book attempts to supply school administrators with information needed to handle new accounting duties and to lay a foundation for future fuller involvement…
Sørensen, Karsten Engsig; Hansen, Søren Friis
Based on the many Danish cases on the prohibition against companies advances funds to allow a third party to acquire shares in the company (financial assistance), it is debated if there is a need to reform Article 23 of the Second Company Law Directive, and how this reform should look....
... 7 Agriculture 6 2010-01-01 2010-01-01 false Financial management. 634.40 Section 634.40..., DEPARTMENT OF AGRICULTURE LONG TERM CONTRACTING RURAL CLEAN WATER PROGRAM Financial Management § 634.40 Financial management. (a)(1) Finance and accounting will be in conformance with Office of Management...
Dowling, Nicki; Hoiles, Lauren; Corney, Tim; Clark, David
In two studies of young Australian workers, participants generally displayed positive attitudes towards financial management practices; however, a substantial proportion failed to display positive financial management practices, experienced financial problems and dissatisfaction, and reported low rates of seeking financial assistance, particularly…
which was intended to fundamentally transform DOD’s financial management operations and achieve clean financial 12GAO-15-290. 13GAO-15-290. 14Pub...Actions to Implement the Panel on Defense Financial Management and Auditability Reform Recommendations valuations for these assets. For example, DOD’s...governance, the department is managing its business systems, including ERP systems, as portfolios of investments . The goal is to aggregate data from
.... As a result, DoD has prepared the Financial Management Improvement Plan (the Plan), which is a strategic framework that includes the Departments financial management concept of operations for the future...
... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial management. 247.27 Section 247.27... AGRICULTURE CHILD NUTRITION PROGRAMS COMMODITY SUPPLEMENTAL FOOD PROGRAM § 247.27 Financial management. (a) What are the Federal requirements for State and local agencies with regard to financial management...
Full Text Available The purpose of the paper is to determine the nature, targets, functions, principles and methods of budget planning and development of classifications due to its types. The essence of budget planning presented by various authors, is own interpretation (the process of developing a plan of formation, distribution and redistribution of financial funds according to budget system units during the reporting period based on budgetary purposes and targets defined by socio-economic development strategy is proposed. Methodology. The following methods such as cognition, induction, deduction, analysis and synthesis have been used in the process of survey. Results of the survey proves that budget planning plays an essential role in the financial management. On condition business environment changing even the best management system can become obsolete. The immediate reaction to the new trends in the financial system as a whole, in the industry is possible with budget planning as well. It also allows to make appropriate adjustments to the plans. Adjustment of long-term, medium-term and short-term plans makes it possible, without changing goals, to change ways of their achievement and thus to raise the level of efficiency of budget funds formation and use. It is necessary to revise the whole system plans, including their mission and goals in the case of global changes in the external and internal environment. Practical implications. The proposed approach to the classification of budget planning types allows to cope with the shortcomings of modern planning in the public sector (the development of the targets according to the state budget expenditures in Ukraine remains a formality and it rarely complies with realities. Value/originality is specified in the proposed interpretation which differs from existing ones that provides clarification of budget planning purpose in financial management; classification of budget planning principles, which differs from previous
This report estimates the financial impact on utilities and ratepayers of nuclear power plant regulatory reforms. Three situations are investigated: (1) no reform, (2) combined early-site-permit and preapproval-of-design reforms, and (3) total reform. Also, two types of capacity additions are evaluated using two utility companies as case studies: (1) nuclear plus generic capacity, and (2) all-nuclear capacity. Results indicate that both the shorter construction lead-time afforded by nuclear regulatory reform and the timing of new capacity additions are extremely important in enabling a utility to remain in a healthy financial position while adding capacity to meet future demand and at the same time reducing the price of electricity to the ratepayers. The lower added capital costs and fuel cost savings obtained from reformed nuclear units allow a utility dependent on oil and gas steam generation to experience price decreases as these new units begin commercial operation. The study also points out that in simulations excluding the shorter lead-time generic capacity, price increases were greater and financial performance was worse for both utilities. These facts indicate the importance of shortening the construction lead-time through nuclear regulatory reform so that nuclear power will be more competitive with coal. 19 refs., 4 figs., 3 tabs
... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial management. 3560.630 Section 3560.630... AGRICULTURE DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS On-Farm Labor Housing § 3560.630 Financial management. Financial information must be submitted in an Agency-approved format and will show operation of the housing...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Annual Financial Statement of Surety Companies--Schedule F AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management...
Geib, Malte; Kolbe, Lutz; Brenner, Walter
The integration of the financial services industry and many financial services companies' focus on core competencies have led to the emergence of financial services alliances. These alliances face a variety of challenges regarding an integrated approach to customer relationship management (CRM) by the partner companies.In this paper we describe the challenges derived from an analysis of five financial services companies that formed different financial services alliances. The main inhibitors o...
Characklis, Gregory; Meyer, Eliot; Foster, Benjamin
Physical and/or engineered solutions have long been used to manage risks associated with adverse environmental events. Examples include reservoirs as a tool for mitigating drought-related supply risk, levees for managing flood risk and dredging of inland waterways to ensure navigability during low flow periods. These measures can reduce many types of risk (e.g., loss of life), but are often employed as a means of protecting against financial losses. When the focus is on managing environmental financial risk, physical solutions can be effective, but also costly. In many cases, non-physical tools can provide a less expensive means of managing financial risk, with these often taking the form of financial instruments such as hedging contracts, contingency funds or insurance. Some of these instruments, such as flood insurance, are widely available, but historically many environmental financial risks have been managed primarily (or solely) via physical solutions without much consideration of alternatives, thereby opening opportunities for innovation in developing financial solutions. Recent research has demonstrated that financial instruments can play a significant role in managing drought-related financial risk in sectors as diverse as water utilities, energy generation and inland navigation. Nonetheless, this work has largely considered the use of these instruments within systems in which physical solutions are already in place (but failing to achieve desired performance). The next step in the evolution of managing environmental financial risk involves developing methods for designing risk management strategies that do not assume an established physical system. Here the goal is to identify the relative role that physical solutions and financial instruments should play as they are integrated into a comprehensive risk management strategy. This is not a straightforward challenge as one approach reduces the risk of financial losses and the other redistributes those losses
Full Text Available The article analyses the directions of tax management in the context of budgetary decentralization. The paper aims to research tax management in the system of forming local budgets in the conditions of financial resources decentralization and analyze the current tools of tax management on the local level. In spite of a great number of researches, the issue of tax management in strengthening financial independence of local budgets is not enough studied; therefore, to reach financial independence of local communities it is necessary to adopt new normative and legal acts concerning decentralization of financial resources taking into account tax potential of each territorial community. The lack of financial resources causes the problem of optimal redistribution of power among central and local authorities. The author proposes the new mechanisms of solving the current problems on the example of local budget of the city of Uzgorod to contribute budgetary decentralization. The principal idea while conducting the reform of the budgetary process must be the adoption of certain changes in budgetary legislation which have to shift the mechanisms of budgetary financing and equating local budgets. The author concludes that the progressive vector of well-being increasing completely depends on the developed concept of regional economic policy. The article pays attention to the importance of taking into account the tax potential of a territory and characterizes the directions of strengthening financial independence of local government.
Schmid, Erwin; Sinabell, Franz
The Common Agricultural Policy (CAP) was fundamentally reformed in 2003. From 2005, farmers will receive decoupled income support payments instead of production premiums if basic standards for environment, food safety, animal health and welfare are met. Farmers are likely to adjust production and management practices to the new policy framework. We describe how this reform fits into the EU strategy of making agricultural production more environmentally friendly by concentrating on the financial aspects of the reforms. Using an agricultural sector model for Austria, we show that the reform will further decrease agricultural outputs, reduce farm inputs, lessen nitrogen surpluses and make environmentally friendly management practices more attractive for farmers.
The effect of financial liberalization on investment in sub-Saharan Africa countries has drawn much attention in the recent literature. The major thrust of the literature has been to understand the mechanism by which interest rate deregulation on one hand and elimination of other forms of financial repression on the other ...
Statement of Donald Mancuso Deputy Inspector General Department of Defense Before the Subcommittee on Government Management Information and Technology House Government Reform Committee, United States House of Representatives on Defense Financial Management
.... Likewise, new statutory requirements for audited annual financial statements caught the Department unprepared and without the automated systems needed to compile commercial type accounting data...
Pakistan has been making efforts to restructuring the century old irrigation system by involving beneficiaries (water users) at various units of the irrigation system management. The main purposes of reforms are to improve O and M (Operation and Maintenance) of irrigation system, to make balance in expenditure and revenue, to improve crop production through efficient use of water, to maintain affordable drainage system and to adopt PWRM (Participatory Water Resource Management) approach. In these reforms, the Sindh provincial irrigation department was transferred to an autonomous body as SmA (Sindh Irrigation and Drainage Authority). Under SmA, CAWB (Canal Area Water Board) at each canal command area, water users association at watercourse level and Farmer Organizations at each secondary canal (Distributary/ Minor) command area were being formed. So far 335 FOs (Farmers Organizations) have been formed in Sindh. To evaluate the performance of FOs in their day to day activities such as water distribution, O and M of irrigation channels, conflict management and revenue (Abiana) collection, IMI (Institutional Maturity Index) of FOs is conducted. The objective IMI analysis was to assess the maturity of FOs in terms of organizational aspects, conflict resolution, financial aspects, water distribution, operation and maintenance, environmental aspects and capacity building of FOs. The IMI analyses identified the weaker aspects of the FOs and need of focus these aspects for improved performance of FOs through effective social mobilization and capacity building activities. (author)
Boot, A.; Logue, D.; Spatt, C.
Corporate tax reform has been a controversial issue in the U.S. for several years, particularly as U.S. companies have accumulated cash in lower‐tax overseas subsidiaries, while some have used “inversions” to establish overseas corporate domiciles. Two features of U.S. corporate taxation stand out:
Three reports - ''The Future Market for Electric Generating Capacity,'' ''Quantitative Analysis of Nuclear Power Plant Licensing Reform,'' and ''Nuclear Rate Increase Study'' are recent studies performed by the Los Alamos National Laboratory that deal with nuclear power. This presents a short summary of these three studies. More detail is given in the reports
... 29 Labor 9 2010-07-01 2010-07-01 false Financial management. 1960.7 Section 1960.7 Labor... MATTERS Administration § 1960.7 Financial management. (a) The head of each agency shall ensure that the... Official, management officials in charge of each establishment, safety and health officials at all...
... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Financial management. 61...) VA HOMELESS PROVIDERS GRANT AND PER DIEM PROGRAM § 61.66 Financial management. (a) All recipients... management system that follows generally accepted accounting principals and provides accounting records...
S.M. Hammoudeh (Shawkat); M.J. McAleer (Michael)
textabstractRisk management is crucial for optimal portfolio management. One of the fastest growing areas in empirical finance is the expansion of financial derivatives. The purpose of this special issue on “Risk Management and Financial Derivatives” is to highlight some areas in which novel
...), and Marine Corps orders, publications and directives to determine those keys areas considered most essential to Marine Corps financial management specialists in the performance of their duties...
Full Text Available The architecture of systems dedicated to risk management is probably one of the more complex tasks to tackle in the world of finance. Financial risk has been at the center of attention since the explosive growth of financial markets and even more so after the 2008 financial crisis. At multiple levels, financial companies, financial regulatory bodies, governments and cross-national regulatory bodies, all have put the subject of financial risk in particular and the way it is calculated, managed, reported and monitored under intense scrutiny. As a result the technology underpinnings which support the implementation of financial risk systems has evolved considerably and has become one of the most complex areas involving systems and technology in the context of the financial industry. We present the main paradigms, require-ments and design considerations when undertaking the implementation of risk system and give examples of user requirements, sample product coverage and performance parameters.
The audit objective was to determine whether the OASD(C31) methods for preparing FY 1996 CIM, general purpose financial statements will result in auditable and complete general purpose financial statements...
The purpose of this study is to explore the area of accounting in traditional market. There are two areas of accounting: management and financial accounting. Some of traditional market traders have prepared financial notes, whereas some of them do not. Their financial notes usually consist of receivables, payables, customer orders, inventories, sales and cost price, and salary expenses. The purpose of these financial notes is usually for decision making. It is very rare for the traditional ma...
Jason G. Cummins; Ingmar Nyman
Case studies show that corporate managers seek financial independence to avoid interference by outside financiers. We incorporate this financial xenophobia as a fixed cost in a simple dynamic model of financing and investment. To avoid refinancing in the future, the firm alters its behavior depending on the extent of its financial xenophobia and the realization of a revenue shock. With a sufficiently adverse shock, the firm holds no liquidity. Otherwise, the firm precautionarily saves and hol...
Nowadays, financial management plays a vital role in the process of enterprise operation. To improve the level and ability offinancial management of enterprises is of great significance to the realization of the modernization of enterprises and the sustainable development ofscience. In this paper, the financial management status would be first proposed, and suggestions would be made to improve the financial managementin enterprises.
Full Text Available Deep financial crisis which started in 2007 proved to be extremely contagious affecting the financial and banking EU system. Achieving an integrated banking market is the main component of the European policy in the financial-banking services area. The latest developments underlined that the difficulties faced by the banks can negatively impact on the entire financial stability of the member states. That's why, the European Central Bank will be entitled to supervise any bank of the euro area, especially the ones that benefit of public support. Reforming the financial and banking system must be shaped in the frame of insuring some durable national finances, of an urgent recapitalizing of the banks that need that and of elaborating some common fiscal and financial and banking regulations effective in the eurozone.
.... BUMED must comply with financial reporting reform mandates from Congress and other federal agencies, while simultaneously optimizing the use of its financial systems to improve financial management processes...
The paper discusses different views on the reform of the International Monetary System. It illustrates the most recent antecedents of the current debate, focusing on criteria, determinants and effects of the choice among different exchange regimes and discussing in particular the relationship between fixed exchange rates and financial crises, and the relationship between exchange rates and worldwide freedom of capital movements.
... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial management. 250.15 Section 250.15 Agriculture Regulations of the Department of Agriculture (Continued) FOOD AND NUTRITION SERVICE, DEPARTMENT OF... Financial management. (a) Distribution charges. (1) Recipient agencies may be required to pay part or all of...
.... An agency shall use generally accepted accounting principles and practices, consistently applied... 30 Mineral Resources 3 2010-07-01 2010-07-01 false Financial management. 725.22 Section 725.22... PROGRAM REGULATIONS REIMBURSEMENTS TO STATES § 725.22 Financial management. (a) The agency shall account...
... generally accepted accounting principles and practices, consistently applied. Accounting for grant funds... 30 Mineral Resources 3 2010-07-01 2010-07-01 false Financial management. 735.25 Section 735.25... ADMINISTRATION AND ENFORCEMENT § 735.25 Financial management. (a) The agency shall account for grant funds in...
Taylor, Mark P.
In the current and foreseeable harsh UK higher education environment, aspiring to best-practice financial management will be key to ensuring the prosperity--and indeed the survival--of any university. In this article I argue that good university financial management should provide stability to the institution, allow for investment as well as…
Vladimir P. Bogko
Full Text Available The priorities for improving the management of the enterprises financial stability in the current context are considered in the article. The scientifically based proposals for developing methodological foundations and tools of such management are developed. The implementation of these proposals allows to reduce financial risks of an enterprise in the terms of unsustainable development of Russian economy.
In higher education, three generally recognized rationales for federal involvement in financial aid exist: (1) Promoting equality of opportunity: Those from poor households are less likely to attend college for a variety of reasons; (2) Credit market imperfections: Students may not have access to the credit needed to make profitable investments in…
2011 International Conference on Business, Economics, and Financial Sciences, Management (BEFM 2011)
A series of papers on business, economics, and financial sciences, management selected from International Conference on Business, Economics, and Financial Sciences, Management are included in this volume. Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources. The proceedings of BEFM2011 focuses on the various aspects of advances in Business, Economics, and Financial Sciences, Management and provides a chance for academic and industry professionals to discuss recent progress in the area of Business, Economics, and Financial Scienc...
Cleverley, W O
Financial insolvency is the primary cause of hospital failure. Managers may analyze a hospital's financial statements to anticipate and prevent fiscal problems. Ten measures of fiscal status may be used to evaluate the following: operating profitability nonoperating income equity growth liquidity debt capacity age of facilities revenue generation replacement funds receivables survivability Based on data from the Financial Analysis Service, Catholic hospitals are doing better than other U.S. hospitals in some areas of financial preparedness. In most areas, however, all hospitals suffer by comparison with manufacturers. The 10 principles of solvent and successful operations can help hospitals improve financial resiliency.
IOV DANIELA RODICA
Full Text Available Information concerning financial performance is one of the objectives of the annual financial statements of credit institutions. The main source containing this information is profit and loss statement. A correct and complete information can not be limited to this annual report. Understanding the concept of financial performance requires a holistic approach of the entity. An overview of information on financial performance will be achieved by coordinating information about the profit of the entity, rates of return, cash flows, financing cost and risk. For the economic and financial analysis we often use to separate financial equilibrium indicators of outcome indicators and management indicators. The study upon the financial performance may be based on the income statement, balance sheet and explanatory notes. It may use tools such as: income, interest rates, rates of return, rates of structure, liquidity and solvency rates, rotation rates, cash flows, debt coverage rates and more. Management of banking assets, liabilities and bank risk management must be assembled into a whole. In an uncertain environment, continuously changing, under conditions of the economic and financial crisis, the binomial profitability - risk is increasingly difficult to manage. Under these conditions, the boundary between courage and unconsciousness is also more fragile. On the other hand, the prudence, mandatory rules could be understood as some constraint measures on bank management, that may adversely affect the financial performance of the credit institution.
Löfgren, Karl; Pedersen, John Storm
Is it possible to imagine New Public Management without marketization? In Denmark the present liberal-conservative Government has, throughout its 10 years in power, designed and implemented more than 15 major management reforms in the public sector. Although most of the reforms are rhetorically...... firmly rooted in neo-liberal ideologies they have, in practice, promoted tools and mechanisms of the “traditional,” or Old, Public Management. Based on an empirical study of the reforms, we suggest that the notion of “pragmatic” New Public Management is introduced to enhance the current understanding...... of New Public Management in the Western industrialized societies....
Kapucu, Naim; Kösecik, Muhammet
This article begins with the examination of models of analyzing the process of policy transfer, lesson drawing and policy streams with regard to initiating and directing factors and dynamics of the process. The paper continues with the assessment of administrative reform transferring by evaluating the necessity, major themes and transferability of administrative reform. Strategies for successful administrative reform transferring are emphasized. Special reference is given to New Public Manage...
The present financial management systems reflects only partially the economic reality and they are no longer able to act as an instrument for the management. It is absurd that an economy populated by business models based on 21st century technology to use financial management systems based mainly on the same principles formalised by Luca Paciolli in 1494. Therefore, one of the causes of the current economic crisis could be the lack of coordination between the evolution of the business models ...
Ms. Tamara Ye. Kononenko
Full Text Available The paper clarifies the concepts of «risk», «financial risk» in banking business, and considers the main problems of financial risk management in trade banks while financing borrowers. The authors single out the most relevant problems, and conduct the analysis of overdue payment in case of OJSC “Sberbank of Russia”. The authors also offer a number of measures to minimize financial risks in trade bank activities in modern conditions.
Boersma-de Jong, Margreet F.
A research programme into ethical, socially responsible thought as a precondition for our financial actions.
Speech of Dr. Margreet Boersma of Hanze University of Applied Sciences at her installation as a professor of Sustainable Financial Management.
There is little room for what's
Michigan Library, Lansing.
Developed to provide library directors, staff, and board members with information for performing accounting and financial management functions, this guide answers frequently asked questions, describes common practices and processes, provides examples and suggested formats for selected financial reports, and identifies issues that may require…
... application of internal controls within the Centre's corporate financial systems. ... It is a key resource for managing IDRC's financial information systems both for the ... Assess the vendor development strategies and determine the impacts on the long .... applications to provide complete and relevant accounting information.
Gestel, N.M. van; Teelken, J.C.
In this paper, theoretical explanations of competing drivers of change from neo-institutional theory are applied to public sector patterns of reform. The aim is to investigate basic ideas, assumptions, and practices of public management reform over the past two decades and analyze these elements of
Implications of Risk Management Practices on Financial Performance of Sugar ... The respondents were functional heads of the companies under the survey. ... of downside losses in order to minimize the negative impact of risk on returns.
Counties suffer from weak financial management and accountability, human capacity ... The project team will prepare a report of its findings and recommendations, ... them consolidate their role as credible development actors in their countries, ...
Friche, Nanna; Slottved, Mette
In 2014, a new reform of the VET system in Denmark was decided by a broad political coalition in the Parliament. This reform implies fundamental changes in VET, for example by changing the course structure and design, by an intended boost of teaching quality, by limited access, and a separation...... and targets reflects governance principles of performance management. Performance management is an idea that is growing in popularity, in Europa and abroad. In Denmark, the VET reform represents an example of how management philosophy and ideas of performance management inform a number of current reforms...... in the policy area of education. The logic of performance management is that organizations and individuals are given objectives, measurable indicators are derived from these objectives, and features such as authority or incentives are deployed in order for organizational actors to meet or improve performance...
Financial risk management of pharmacy benefits in integrated health systems is explained. A managed care organization should assume financial risk for pharmacy benefits only if it can manage the risk. Horizontally integrated organizations often do not have much control over the management of drug utilization and costs. Vertically integrated organizations have the greatest ability to manage pharmacy financial risk; virtual integration may also be compatible. Contracts can be established in which the provider is incentivized or placed at partial or full risk. The main concerns that health plans have with respect to pharmacy capitation are formulary management and the question of who should receive rebates from manufacturers. The components needed to managed pharmacy financial risk depend on the type of contract negotiated. Health-system pharmacists are uniquely positioned to take advantage of opportunities opening up through pharmacy risk contracting. Functions most organizations must provide when assuming pharmacy financial risk can be divided into internal and external categories. Internally performed functions include formulary management, clinical pharmacy services and utilization management, and utilization reports for physicians. Functions that can be outsourced include claims processing and administration, provider- and customer support services, and rebates. Organizations that integrate the pharmacy benefit across the health care continuum will be more effective in controlling costs and improving outcomes than organizations that handle this benefit as separate from others. Patient care should not focus on payment mechanisms and unit costs but on developing superior processes and systems that improve health care.
Vandoros, Sotiris; Stargardt, Tom
Following the financial crisis of 2008, Greece has been facing severe fiscal problems associated with high public debt and deficit. Given their significant contribution to public sector expenditure, part of the effort to reduce public expenditure has involved a focus on pharmaceutical markets. Our aim is to provide an overview of recent policy changes in the Greek pharmaceutical market as a response to the crisis. We also discuss other potential measures that can be implemented. The recommendations are relevant to European countries facing debt crises, but also to any other country, as improving efficiency makes funds available to be used on other interventions. In 2010 and 2011, following the debt crisis and the agreement with the IMF, EU and ECB, the Greek government introduced several policy measures aimed at cost-containment. These changes included (a) price cuts, (b) the re-introduction of a positive list, (c) changes in the profit margins of pharmacies and wholesalers, and (d) tenders for hospital drugs. As a result, public drug expenditure decreased from €5.09 billion in 2009 to €4.25 billion in 2010 and €4.10 billion in 2011. As the need to cut expenditure becomes more urgent, seeking efficiency is possibly the only option for countries that do not wish to compromise quality of healthcare and public health. However, efficiency and cost containment are not only about introducing new policies, but also about the enforcement of existing laws and fighting corruption. Copyright © 2012 Elsevier Ireland Ltd. All rights reserved.
Schmid, Erwin; Sinabell, Franz
The Common Agricultural Policy (CAP) was fundamentally reformed in 2003. From 2005 on, farmers will receive decoupled income support payments instead of production premiums if basic standards for environment, food safety, animal health and welfare are met. Farmers will likely adjust production and management practices to the new policy framework. We describe how this reform fits into the EU strategy of making agricultural production more environmentally friendly by concentrating on financial ...
The current global crisis poses significant challenges for our fi nancial system, our economies, and our societies. Overcoming these will require a new “social contract” between society and finance. This must include improvements to corporate governance, a reform of capital requirements, a more transparent and less procyclical accounting framework, banking laws to reflect modern financial markets, better infrastructure, and stronger supervision. Given the global nature of today’s capital mark...
A standard tutorial-based approach covering Microsoft Dynamics GP 2013 and its six financial modules. The book is intended to allow users to improve their system use and workflow by introducing new modules to assist in financial management.This book is for you if you're a Dynamics GP partner, or Dynamics GP user, primarily focused on delivering application optimizations. This book assumes that you have a working knowledge of Microsoft Dynamics GP and have an understanding of the requirements of financial management.
Full Text Available The purpose of this article is to offer useful information about the about the two branches of accounting, management accounting and financial accounting. The role of management accounting is to make the life easier for managers and to facilitate decisions that have to take on the production process or the smooth running of the business. The managers are in a continues need of various information, from the evolution of economics processes of the companies they are leading, up to the external environment. They required data information by different techniques, statistics, graphs, mathematical calculations, to substantiate the decision to take by data value, and not just rely on technical or quantitative. Financial accounting do not offer detailed information about the evolution or informational needs of managers, this is designed external users, like: state institutions, the competition, banks, suppliers, customers who do not require daily information about the entity. Instead, the manager request the detailed information, at irregular intervals, about the production process, the labor productivity, activity reports, internal entity, which often is not available to external users of accounting information. The financial accounting is based on several conventions, laws, standards, helping financial data are comparable over time or between similar entities. The financial accounting offers information about the performance and financial position of the entity and making it intelligible at the same time by all the users. In the case of management accounting, the information do not have an standard presentation, the reports offers information about money, the moment when those have to be paid and the moment when they come back, as receipts. The management accounting it provides futures information and what will happen, in contrast to financial accounting, who provides information about the past and what just happened. Management information uses tools
Full Text Available The main objective of the study is to examine the role that financial management plays in ensuring regional development. This is because the crisis, economic globalisation, the increasing external growth of companies and the institutionalisation of the autonomy of local communities have fuelled the interest in identifying alternatives to local and thereby regional development. The targeted operational objectives were: to define the preliminary coordinates of regional development; to identify the role of private and public financial management in supporting regional development; and to present the financing framework of the Siret-Prut-Nistru Euroregion. The main financial levers with a direct impact on regional economic development there are: tax incentives; using EU financing programmes; leverage based on ownership of buildings and land; business incubators, etc. The study suggests that financial management (both public and private plays an important role in the development of the Euroregion, with wide-ranging present (in the post-crisis as well as future implications.
Mobile Nav Footer Links ... Impact of Land Reform Migration on Natural Resource Management in Zimbabwe ... to migrants' livelihoods; determine the relationship between gender, poverty and access to forest ... Start Date. September 4, 2008 ...
Markovitz, Adam A; Ramsay, Patricia P; Shortell, Stephen M; Ryan, Andrew M
To evaluate whether greater experience and success with performance incentives among physician practices are related to increased participation in Medicare's voluntary value-based payment reforms. Publicly available data from Medicare's Physician Compare (n = 1,278; January 2012 to November 2013) and nationally representative physician practice data from the National Survey of Physician Organizations 3 (NSPO3; n = 907,538; 2013). We used regression analysis to examine practice-level relationships between prior exposure to performance incentives and participation in key Medicare value-based payment reforms: accountable care organization (ACO) programs, the Physician Quality Reporting System ("Physician Compare"), and the Meaningful Use of Health Information Technology program ("Meaningful Use"). Prior experience and success with financial incentives were measured as (1) the percentage of practices' revenue from financial incentives for quality or efficiency; and (2) practices' exposure to public reporting of quality measures. We linked physician participation data from Medicare's Physician Compare to the NSPO3 survey. There was wide variation in practices' exposure to performance incentives, with 64 percent exposed to financial incentives, 45 percent exposed to public reporting, and 2.2 percent of practice revenue coming from financial incentives. For each percentage-point increase in financial incentives, there was a 0.9 percentage-point increase in the probability of participating in ACOs (standard error [SE], 0.1, p Financial incentives were not associated with participation in Physician Compare. Among ACO participants, a 1 percentage-point increase in incentives was associated with a 0.7 percentage-point increase in the probability of being "very well" prepared to utilize cost and quality data (SE, 0.1, p financial incentives with additional efforts to address the needs of practices with less experience with such incentives to promote value-based payment
The purpose of the paper is to determine the nature, targets, functions, principles and methods of budget planning and development of classifications due to its types. The essence of budget planning presented by various authors, is own interpretation (the process of developing a plan of formation, distribution and redistribution of financial funds according to budget system units during the reporting period based on budgetary purposes and targets defined by socio-economic development strategy...
Navathe, Amol S; Silber, Jeffrey H; Small, Dylan S; Rosen, Amy K; Romano, Patrick S; Even-Shoshan, Orit; Wang, Yanli; Zhu, Jingsan; Halenar, Michael J; Volpp, Kevin G
To examine whether hospital financial health was associated with differential changes in outcomes after implementation of 2003 ACGME duty hour regulations. Observational study of 3,614,174 Medicare patients admitted to 869 teaching hospitals from July 1, 2000 to June 30, 2005. Interrupted time series analysis using logistic regression to adjust for patient comorbidities, secular trends, and hospital site. Outcomes included 30-day mortality, AHRQ Patient Safety Indicators (PSIs), failure-to-rescue (FTR) rates, and prolonged length of stay (PLOS). All eight analyses measuring the impact of duty hour reform on mortality by hospital financial health quartile, in postreform year 1 ("Post 1") or year 2 ("Post 2") versus the prereform period, were insignificant: Post 1 OR range 1.00-1.02 and Post 2 OR range 0.99-1.02. For PSIs, all six tests showed clinically insignificant effect sizes. The FTR rate analysis demonstrated nonsignificance in both postreform years (OR 1.00 for both). The PLOS outcomes varied significantly only for the combined surgical sample in Post 2, but this effect was very small, OR 1.03 (95% CI 1.02, 1.04). The impact of 2003 ACGME duty hour reform on patient outcomes did not differ by hospital financial health. This finding is somewhat reassuring, given additional financial pressure on teaching hospitals from 2011 duty hour regulations. © Health Research and Educational Trust.
Bahr, Patrick; Berthold, Jost; Elsman, Martin
. The seminal work by Peyton-Jones and Eber on financial contracts shows how an algebraic approach to contract specification can be used for valuation of contracts (when combined with a model of the underlying observables) and for managing how contracts evolve under so-called fixings and decision......-taking, with the contracts eventually evaporating into the empty contract, for which no party have further obligations. The ideas have emerged into Eber's company LexiFi, which has become a leading software provider for a range of financial institutions, with all contract management operations centralised around a domain......Banks and financial institutions nowadays often use domain-specific languages (DSLs) for describing complex financial contracts, in particular, for specifying how asset transfers for a specific contract depend on underlying observables, such as interest rates, currency rates, and stock prices...
Che, Zhenghong; Che, Zhengmei
Case teaching is an efficient teaching method of management. It plays an important role to enhance the students' ability to practice the theory. However, case teaching of financial management has not achieved the expected results. The paper aims to study the importance, characteristics and corresponding methods of case teaching method of financial…
... 12 Banks and Banking 5 2010-01-01 2010-01-01 false Management and financial policies. 563.161... ASSOCIATIONS-OPERATIONS Financial Management Policies § 563.161 Management and financial policies. (a)(1) For... corporation must be well managed and operate safely and soundly. Each also must pursue financial policies that...
... 34 Education 1 2010-07-01 2010-07-01 false Standards for financial management systems. 74.21... Requirements Financial and Program Management § 74.21 Standards for financial management systems. (a... practical. (b) Recipients' financial management systems shall provide for the following: (1) Accurate...
... 32 National Defense 1 2010-07-01 2010-07-01 false Standards for financial management systems. 34... ORGANIZATIONS Post-award Requirements Financial and Program Management § 34.11 Standards for financial management systems. (a) Recipients shall be allowed and encouraged to use existing financial management...
... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Standards for financial management systems. 145... Financial and Program Management § 145.21 Standards for financial management systems. (a) The Department... whenever practical. (b) Recipients' financial management systems shall provide for the following. (1...
... 29 Labor 1 2010-07-01 2010-07-01 true Standards for financial management systems. 95.21 Section 95... Requirements Financial and Program Management § 95.21 Standards for financial management systems. (a... practical. (b) Recipients' financial management systems shall provide for the following: (1) Accurate...
... 7 Agriculture 15 2010-01-01 2010-01-01 false Standards for financial management systems. 3019.21... Requirements Financial and Program Management § 3019.21 Standards for financial management systems. (a) Federal... cost information whenever practical. (b) Recipients' financial management systems shall provide for the...
... 45 Public Welfare 1 2010-10-01 2010-10-01 false Standards for financial management systems. 74.21... Management § 74.21 Standards for financial management systems. (a) Recipients shall relate financial data to... cost information is usually not appropriate. (b) Recipients' financial management systems shall provide...
... 2 Grants and Agreements 1 2010-01-01 2010-01-01 false Standards for financial management systems... Financial and Program Management § 215.21 Standards for financial management systems. (a) Federal awarding... information whenever practical. (b) Recipients' financial management systems shall provide for the following...
Aurel Serb; Constantin Baron; Nicoleta Magdalena Iacob; Costinela-Luminita Defta
Security issues in financial accounting are complex, and the risks are often difficult to stipulate, even for experts. The issues presented in this article try to be formed in a contribution to the consolidation of problems in the field of risk, and former vulnerabilities in cyber security in financial accounting. The use of an information security management system became a requirement for organizations because on the states began adopting mandatory data protection legislation and informatio...
This thesis deals with general characteristics of financial analysis, the importance of financial analysis for financial management, an expression of financial ratios, including their systems, economic value added, and some bankruptcy and creditworthy models. The analytical section of the thesis applies selected financial indicators to interpret the financial situation of the constructional company Hochtief CZ.
Characklis, Greg; Foster, Ben; Kern, Jordan; Meyer, Eliot; Zeff, Harrison
of financial losses experienced by such entities as water utilities, hydropower producers and inland shipping firms as a result of water scarcity, all of which suggest a growing role for financial instruments in managing environmental risk.
To maintain control over healthcare delivery and financial decisions, as well as increase access to capital markets, some group practices are forming their own physician practice management companies. These companies should be organized to balance the expectations of physicians with the values of capital markets. This organization should include retained earnings, financial reporting in accordance with generally accepted accounting principles (GAAP), predictable earnings and cash flow, physician ownership and leadership, and incentives for high-quality management. Three large, primary care and multispecialty clinics that merged to form a new physician practice management company increased their access to capital markets and improved their overall financial position, which will help them achieve long-term survival.
Full Text Available This paper examines the reform of water and irrigation management in Africa and compares it with similar reforms in Asia. Several things are evident from the review. First, Sub-Saharan Africa (SSA is at an earlier stage of irrigation development and reform than Asia. Second, the articulated need for reform is much stronger in Asia than it is in SSA. Third, the productivity of small-scale irrigated farms is significantly lower in SSA compared to Asia. Thus any irrigation investment strategy in SSA should be different from Asia and focus on increasing small-farm productivity as well as small-scale irrigation projects. Finally, all direct government irrigation investments should be done jointly with decisions regarding the type of project management.
Gyorgy Adina Cristina
Full Text Available Budgetary classifications are a vital condition for a sound budgetary management. To be a good and useful classification, some rules should be respected. The international experience could offer us guiding lines which contribute to this purpose. In our paper we tried to present some basic elements of a budgetary classification, stressing on their utility in practice: financial management, reporting, on various criteria, and electronic processing. In last part is presented a functional example of such a classification which proved its utility in Romanian public financial sector.
Nuclear power plant projects have weathered volatile economic conditions and uncertain regulatory climates with varying degrees of success. Some electric utilities can point to excellent construction and operating records, while others have suffered continuous difficulties. Are the success stories the result of good luck or effective management. This article identifies the potential sources of financial risk in a nuclear project and describes several methods available to management for controlling financial liability. A commitment to the highest level of technical and managerial skills is cited as a necessary component of all successful nuclear undertakings. 4 references, 3 figures, 2 tables
Zallman, Leah; Nardin, Rachel; Sayah, Assaad; McCormick, Danny
Under the Massachusetts health reform, low income residents (those with incomes below 150 % of the Federal Poverty Level [FPL]) were eligible for Medicaid and health insurance exchange-based plans with minimal cost-sharing and no premiums. Those with slightly higher incomes (150 %-300 % FPL) were eligible for exchange-based plans that required cost-sharing and premium payments. We conducted face to face surveys in four languages with a convenience sample of 976 patients seeking care at three hospital emergency departments five years after Massachusetts reform. We compared perceived affordability of insurance, financial burden, and satisfaction among low cost sharing plan recipients (recipients of Medicaid and insurance exchange-based plans with minimal cost-sharing and no premiums), high cost sharing plan recipients (recipients of exchange-based plans that required cost-sharing and premium payments) and the commercially insured. We found that despite having higher incomes, higher cost-sharing plan recipients were less satisfied with their insurance plans and perceived more difficulty affording their insurance than those with low cost-sharing plans. Higher cost-sharing plan recipients also reported more difficulty affording medical and non-medical health care as well as insurance premiums than those with commercial insurance. In contrast, patients with low cost-sharing public plans reported higher plan satisfaction and less financial concern than the commercially insured. Policy makers with responsibility for the benefit design of public insurance available under health care reforms in the U.S. should calibrate cost-sharing to income level so as to minimize difficulty affording care and financial burdens.
... 34 Education 1 2010-07-01 2010-07-01 false Standards for financial management systems. 80.20... Financial Administration § 80.20 Standards for financial management systems. (a) A State must expand and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...
... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial management system. 249.11 Section 249.11... § 249.11 Financial management system. (a) Disclosure of expenditures. The State agency must maintain a financial management system that provides accurate, current and complete disclosure of the financial status...
... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Standards for financial management systems... Financial Administration § 437.20 Standards for financial management systems. (a) A State must expend and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...
... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Standards for financial management systems... ORGANIZATIONS, AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Financial and Program Management § 435.21 Standards for financial management systems. (a) Introduction. SSA requires recipients to relate financial...
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Financial management systems. 632.32 Section... Financial management systems. (a) Each Native American grantee, subgrantee and contractor shall maintain a financial management system which will provide accurate, current and complete disclosure of the financial...
... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial management system. 248.11 Section 248.11... § 248.11 Financial management system. (a) Disclosure of expenditures. The State agency shall maintain a financial management system which provides accurate, current and complete disclosure of the financial status...
... Standard financial management clauses. (a) The following DEAR and FAR clauses are standard financial... Accounting Standards. (b) The following DEAR clauses are standard financial management clauses. The... systems: (1) 970.5232-7, Financial management system. (2) 970.5232-8, Integrated accounting. (c) Any...
... 10 Energy 4 2010-01-01 2010-01-01 false Standards for financial management systems. 600.121... financial management systems. (a) Recipients shall relate financial data to performance data and develop....121(f) and 600.181, recipients' financial management systems shall provide for the following: (1...
... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Standards for financial management... violation of the restrictions and prohibitions of applicable statutes. (b) The financial management systems... the financial management system of any applicant for financial assistance as part of a preaward review...
... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Standards for financial management systems. 226... AWARDS TO U.S. NON-GOVERNMENTAL ORGANIZATIONS Post-award Requirements Financial and Program Management § 226.21 Standards for financial management systems. (a) Recipients shall relate financial data to...
... SMALL BUSINESS ADMINISTRATION Audit and Financial Management Advisory (AFMAC) AGENCY: U.S. Small... Financial Management Advisory (AFMAC). The meeting will be open to the public. DATES: The meeting will be... Agency's financial management, including the financial reporting process, systems of internal controls...
... 45 Public Welfare 3 2010-10-01 2010-10-01 false Standards for financial management systems. 1183... Financial Administration § 1183.20 Standards for financial management systems. (a) A State must expand and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...
... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Standards for financial management systems... Requirements § 1260.121 Standards for financial management systems. (a) Recipients shall relate financial data...) Recipients' financial management systems shall provide for the following. (1) Accurate, current and complete...
... financial management systems. (a) A State must expand and account for grant funds in accordance with State... management systems of other grantees and subgrantees must meet the following standards: (1) Financial... the financial management system of any applicant for financial assistance as part of a preaward review...
... 21 Food and Drugs 9 2010-04-01 2010-04-01 false Standards for financial management systems. 1403... Financial Administration § 1403.20 Standards for financial management systems. (a) A State must expend and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...
... 29 Labor 4 2010-07-01 2010-07-01 false Standards for financial management systems. 1470.20 Section... Post-Award Requirements Financial Administration § 1470.20 Standards for financial management systems... the restrictions and prohibitions of applicable statutes. (b) The financial management systems of...
... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Standards for financial management systems. 135... Financial Administration § 135.20 Standards for financial management systems. (a) A State must expand and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...
... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Standards for financial management..., HOSPITALS AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 70.21 Standards for financial management systems. (a) Recipients must relate financial data to...
... 22 Foreign Relations 2 2010-04-01 2010-04-01 true Standards for financial management systems. 518... ORGANIZATIONS Post-Award Requirements Financial and Program Management § 518.21 Standards for financial management systems. (a) Federal awarding agencies shall require recipients to relate financial data to...
... 45 Public Welfare 3 2010-10-01 2010-10-01 false Standards for financial management systems. 1174... Financial Administration § 1174.20 Standards for financial management systems. (a) A State must expand and... of applicable statutes. (b) The financial management systems of other grantees and subgrantees must...
Full Text Available In this paper we analyse the research results on corporate risk management practices, notably in light of the derivatives use in the large Serbian non-financial companies. The principal aim of this paper is to examine whether Serbian companies employ derivatives to manage risk and to what degree, and to explore the main rationale behind the companies' not employing these instruments, as well as to suggest possible enhancements of risk management practices. Furthermore, we have investigated the key reasons why financial derivatives are very useful for Serbian companies for hedging financial risks. Additionally, this paper provides a comparative overview of the use of derivatives between Serbian companies and the companies in Croatia and Slovenia in order to ascertain whether Serbian companies employ derivatives in order to manage risk to the same degree as their Croatian and Slovenian counterparts. This paper will include findings and provide evidence that FX rate and referent interest rates (such as 1w- 2w repo rate, Beonia and Belibor are markedly volatile, which opens vast possibilities for the use of financial derivatives, given that these financial parameters determine the price of a credit arrangement for companies and the quality of import and export cash flows.
Full Text Available Reforming Community Medicine discipline is the felt need amongst fraternities of Community Medicine but making effective change is the greatest challenge. It is uphill task and many big organizations failed in ushering the change without full thought to how to manage reform? With changing demand and role of the subject, Royal Colleges of Physicians of United Kingdom had tried to change Faculty of Public Health to Faculty of Community Medicine and then to Faculty of Public Health Medicine to manage the change but it failed (1. However, we need to learn from them and succeed in managing the change.
Guthrie, James W.
Recommends the implementation of school-based management systems as one way to meet government demands for educational reform. Describes the functions of principals, school advisory councils, school-site budgeting and accounting, and annual planning and performance reports in successful school-based management systems. Presents examples of…
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Final Rule--Management of Federal Agency Disbursements. AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management...
Both the standard economic model and bargaining theory make predictions about financial management and the division of household labor between household partners. Using a large Internet survey, we have tested several predictions about task divisions reported by Dutch household partners. The division
Foster-Jorgensen, Karen; Harrington, Angela
This handbook is designed to assist childcare executive officers (CEOs) in managing the finances of their programs. The guide is divided into five sections. Section 1, "Financial Entrepreneurship," advocates the adoption of an entrepreneurial spirit in directors and recommends: (1) becoming the Chief Executive Officer of the program; (2) actively…
The development of management control financial reporting systems for airport operation is discussed. The operation of the system to provide the reports required for determining the specific revenue producing facilities of airports is described. The organization of the cost reporting centers to show the types of information provided by the system is analyzed.
Full Text Available This paper informs about the financial management in the construction company. The work describes problems of the management, its tasks, goals, dependencies on the size of the construction company and progress in the construction production and also introduce topic of the risks in the construction business. Also controlling and reporting in the construction company together with basic tools are described in example of Metrostav a.s. in this work.
...) of 1996, issued September 9, 1997. JFMIP intends for the requirements to promote understanding of key financial management systems concepts and requirements, to provide a framework for establishing integrated financial management...
The first part of this ANDRA report (French National Agency for radioactive waste management) comments the global financial balance and the evolution of the personnel. It briefly presents the CIGEO project, the FA-VL project (low activity and long life). It presents the various industrial activities such as surface storage centres, nuclear activities outside the electronuclear sector (waste collection, polluted sites, national inventory of radioactive wastes). It evokes public subsidies, investments, and the international activity. It discusses the securing of the future nuclear burden financing. It briefly indicates the main objectives for 2012. The second part contains the different tables of the financial statements. These accounts are discussed and commented in appendix
Paientko Tetiana V.
Full Text Available The article is devoted to the study of the potential of taxation tools of legalisation of financial flows. The goal of the article is justification of directions of reformation of taxation of income and added value in the context of legalisation of financial flows in Ukraine. Pursuant to results of the study the article shows that using taxation tools it is possible to legalise and increase both taxation financial flows and a part of the financial flows earlier moved to the shadow sector of economy. First of all, budget receipts from income tax could be increased by means of reduction of this tax evasion. This could be achieved with the help of the mechanism of differentiation of income taxation, namely: application of a reduced income tax rate, which is directed at investments into the fixed capital, and a standard rate for the income distributed for other purposes. This would create conditions when tax evasion becomes unprofitable for tax payers. Second, reducing VAT evasion would result in its growth in budget receipts. To do this it is recommended to use the reduced rate during taxation of food supplies and public transportation services, which would allow reduction of the VAT evasion degree in the sphere of small and medium businesses (not connected with export that are engaged in these types of activity. The size of the reduced rate is identified by elasticity of the shadow added value and VAT multiplier. Third, it is possible to increase financial flows by means of attraction of a part of financial flows, earlier moved into the shadow economy, into economy and mobilisation into the budget using the mechanism of tax amnesty. Using foreign experience the article justifies optimal conditions of amnesty and size of the rate of income legalisation.
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service Proposed Collection of... Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial... collection. By this notice, the Financial Management Service solicits comments concerning the FMS 458 and FMS...
...). The plan is to be submitted not later than September 30 of each even-numbered year and is to address all aspects of financial management within DOD, including the finance systems, accounting systems...
... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Standards for financial management... Program Management § 30.21 Standards for financial management systems. (a) EPA shall require recipients to...) Recipients' financial management systems shall provide for the following. (1) Accurate, current and complete...
... 32 National Defense 1 2010-07-01 2010-07-01 false Standards for financial management systems. 32... Program Management § 32.21 Standards for financial management systems. (a) DoD Components shall require... unit cost information. (b) Recipients' financial management systems shall provide for the following. (1...
... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Standards for financial management... and Program Management § 84.21 Standards for financial management systems. (a) HUD shall require.... (b) Recipients' financial management systems shall provide for the following: (1) Accurate, current...
... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Financial management... for Management and Operating Contracts 970.5232-7 Financial management system. As prescribed in 970.3270(b)(1), insert the following clause: Financial Management System (DEC 2000) The Contractor shall...
Full Text Available The turmoil created by the financial crisis and economic recession in Europe has served as an impetus for austerity measures in many countries. In this article, we ask whether these crises have also triggered reforms in family policy, and we focus on three European welfare states – Finland, Germany and the United Kingdom – countries that are often considered members of different family policy regimes. The article addresses two main research questions. The first one relates to the number, direction and magnitude of family policy reforms in these three countries since the beginning of the financial crisis in 2008/2009, while in the second we discuss whether the reforms observed during this period can be seen as being related to the financial crisis and its later repercussions on the Euro-zone area, or if there are other explanations.
... violation of the restrictions and prohibitions of applicable statutes. (b) The financial management systems... the financial management system of any applicant for financial assistance as part of a preaward review... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Standards for financial...
functionalStatements OUSD(C) History FMR Budget Materials Budget Execution Financial Management Improving Financial Performance Reports Regulations banner Financial Management Reports IN THIS SECTION ... Improving Financial , accounting for, disbursing and reporting retirement payments for those chosen for early retirement under the
Full Text Available Any modern entity operates with the purpose to generate profit, and also to generate sufficient cash flow as to cover its operations and to never be in the position of being unable to cope with payments. Depending on the financial policy, part of the earnings of the entity can be used to sustainable purchase fixed assets. It is known that an entity needs investments in order to develop. to make investments, it needs financial sources. Nowadays, the access to resources, and especially to external resources, is becoming increasingly difficult. Therefore, any responsible entity takes measures to increase its capacity to self-finance. The capacity to self-finance reflects the financial potential for economic growth of an entity, namely the internal source of financing, and one of the important elements that influence the capacity of self-financing is depreciation. For this reason, the way depreciation is approached within an entity is a decision matter of the management.
..., [email protected] . SUPPLEMENTARY INFORMATION: I. Abstract The NASA Contractor Financial Management... NATIONAL AERONAUTICS AND SPACE ADMINISTRATION [Notice 12-019] Information Collection; NASA Contractor Financial Management Reports AGENCY: National Aeronautics and Space Administration (NASA). ACTION...
Job Summary The Senior Financial Analyst, External Funds Management is responsible ... in accordance with the donor agreements and accounting principles. ... Assist the Manager in the development of the financial accounting structure for ...
Objective: To establish the state of organization structures and management situation existing at the Muhimbili National Hospital (MNH) and Muhimbili University College of Health Sciences (MUCHS) prior to the start of the MNH reforms and physical infrastructure rehabilitations. Methods: A checklist of key information items ...
This article reports on research to form an understanding of how to account whether and how quality management (QM) has been adopted in Greek higher education. Greece only recently introduced quality assurance policies. In this study, I will describe governmental reforms related to QM policies until 2010. An issue that is frequently addressed…
The common existing problems of the false processing of accounting information in China and the solution--the appointment system of accountants are analyzed in this paper, it is proposed that the reform of management systems of accountants--the appointment system of accountants should be applied temporally in particular conditions.
Martin R. W. Hiebl
The majority of firms in market-oriented countries are family-owned. Despite their significant economic importance for these countries, research focusing on family firms is a rather young field within business research, having intensified starting only in the late 1980s. Research regarding the peculiarities of financial management in family firms is especially scarce. Hence, this paper seeks to synthesize existing research and to theoretically analyze the finance and accounting practices and ...
Adriana Bruscato Bortoluzzo
Full Text Available ABSTRACT The present study aims to study earnings management in a significant sample of 123 banks in the Brazilian market between 2001 and 2012. Given the important role that banks play in a country's economy, it is important to understand that there are discretionary factors involved in the reporting of a financial institution's profitability. Credit provisioning guidelines for Brazilian financial institutions are described in Resolution 2682/99 of the National Monetary Council (Conselho Monetário Nacional. Because of the discretion allowed in this resolution, loan loss provision is used as instrument of earnings management, which is not an illegal practice, but this behavior does affect the risk perception of agents and analysts, and they should be aware of it and understand it. We found that credit provisioning is used as an earnings management mechanism to smooth the net income of Brazilian financial institutions. Brazilian banks tend to avoid not only negative net income pre-loan loss provisions and taxes, but also negative net income pre-loan loss provisions and taxes in relation to the previous period. Contrary to the previous studies, it is not clear if banks avoid lower net income pre-loan loss provisions and taxes than a given peer group.
Lown, Jean M.; And Others
Reviews literature on family financial management of remarried couples and describes educational workshop on financial management in remarriage. Proposes five premises based on family developmental conceptual framework. Encourages family life educators to include financial management in remarriage education programs and presents outline for…
... 7 Agriculture 15 2010-01-01 2010-01-01 false Standards for financial management systems. 3016.20... Standards for financial management systems. (a) A State must expand and account for grant funds in... financial management systems of other grantees and subgrantees must meet the following standards: (1...
... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Standards for financial management... Administration § 85.20 Standards for financial management systems. (a) A State must expand and account for grant... statutes. (b) The financial management systems of other grantees and subgrantees must meet the following...
... 49 Transportation 1 2010-10-01 2010-10-01 false Standards for financial management systems. 19.21... ORGANIZATIONS Post-Award Requirements § 19.21 Standards for financial management systems. (a) Federal awarding... information whenever practical. (b) Recipients' financial management systems shall provide for the following...
... 10 Energy 4 2010-01-01 2010-01-01 false Standards for financial management systems. 600.311... Requirements § 600.311 Standards for financial management systems. (a) Recipients are encouraged to use existing financial management systems to the extent that the systems comply with Generally Accepted...
... 7 Agriculture 4 2010-01-01 2010-01-01 false Standards for financial management systems. 277.6... ADMINISTRATIVE COSTS OF STATE AGENCIES § 277.6 Standards for financial management systems. (a) General. This section prescribes standards for financial management systems in administering program funds by the State...
... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Standards for financial management systems... Organizations Post-Award Requirements § 12.921 Standards for financial management systems. (a) Federal awarding... information whenever practical. (b) Recipients' financial management systems shall provide for the following...
... 49 Transportation 1 2010-10-01 2010-10-01 false Standards for financial management systems. 18.20... Administration § 18.20 Standards for financial management systems. (a) A State must expand and account for grant... statutes. (b) The financial management systems of other grantees and subgrantees must meet the following...
... 45 Public Welfare 4 2010-10-01 2010-10-01 false Standards for financial management systems. 2543... OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 2543.21 Standards for financial management systems. (a) Federal awarding agencies shall require recipients to relate...
... 7 Agriculture 4 2010-01-01 2010-01-01 false Financial management system. 246.13 Section 246.13... State Agency Provisions § 246.13 Financial management system. (a) Disclosure of expenditures. The State agency shall maintain a financial management system which provides accurate, current and complete...
... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Standards for financial management... § 35.6270 Standards for financial management systems. (a) Accounting system standards—(1) General. The... of the adequacy of the financial management system as described in 40 CFR 31.20(c). (2) Allowable...
... 29 Labor 1 2010-07-01 2010-07-01 true Standards for financial management systems. 97.20 Section 97... Standards for financial management systems. (a) A State must expand and account for grant funds in... financial management systems of other grantees and subgrantees must meet the following standards: (1...
... 14 Aeronautics and Space 3 2010-01-01 2010-01-01 false Financial management system. 152.303... (CONTINUED) AIRPORTS AIRPORT AID PROGRAM Accounting and Reporting Requirements § 152.303 Financial management system. Each sponsor or planning agency shall establish and maintain a financial management system that...
... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Standards for financial management...-PROFIT, AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Financial and Program Management § 14.21 Standards for financial management systems. (a) The Grants Officer shall require recipients to relate...
... Program Management § 49.21 Standards for financial management systems. (a) Federal awarding agencies shall... practical. (b) Recipients' financial management systems shall provide for the following. (1) Accurate... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Standards for financial...
... 45 Public Welfare 3 2010-10-01 2010-10-01 false Standards for financial management systems. 1157... Administration § 1157.20 Standards for financial management systems. (a) A State must expand and account for... statutes. (b) The financial management systems of other grantees and subgrantees must meet the following...
... 32 National Defense 1 2010-07-01 2010-07-01 false Standards for financial management systems. 33... financial management systems. (a) A State must expand and account for grant funds in accordance with State... management systems of other grantees and subgrantees must meet the following standards: (1) Financial...
... Program Management § 1210.21 Standards for financial management systems. (a) The NHPRC shall require.... (b) Recipients' financial management systems shall provide for the following. (1) Accurate, current... 36 Parks, Forests, and Public Property 3 2010-07-01 2010-07-01 false Standards for financial...
... 44 Emergency Management and Assistance 1 2010-10-01 2010-10-01 false Standards for financial... Standards for financial management systems. (a) A State must expand and account for grant funds in... financial management systems of other grantees and subgrantees must meet the following standards: (1...
... 42 Public Health 4 2010-10-01 2010-10-01 false Financial management services. 441.484 Section 441... Optional Self-Directed Personal Assistance Services Program § 441.484 Financial management services. (a) States may choose to provide financial management services to participants, or their representatives, as...
... 45 Public Welfare 4 2010-10-01 2010-10-01 false Standards for financial management systems. 2541... STATE AND LOCAL GOVERNMENTS Post-Award Requirements § 2541.200 Standards for financial management... violation of the restrictions and prohibitions of applicable statutes. (b) The financial management systems...
... 20 Employees' Benefits 3 2010-04-01 2010-04-01 false Center financial management and reporting... § 638.808 Center financial management and reporting. The Job Corps Director shall establish procedures to ensure that each center operator and each subcontractor maintain a financial management system...
... Financial Management § 3560.302 Accounting, bookkeeping, budgeting, and financial management systems. (a) General. Borrowers must establish the accounting, bookkeeping, budgeting and financial management... preparation, and financial management reporting systems through a revision of their management plan. (c...
Uhles, Neville; Weimer-Elder, Barbette; Lee, James G
Adventist HealthCare developed a workshop with a reality simulation game as an engaging means to teach nonfinancial managers about the relationships between cash flow, income statements, and balance sheets. Thirty AHC staff, about half financial and half nonfinancial, were trained as workshop facilitators, and all managers with budget oversight were asked to complete the workshop. The workshop was very positively received; participants' average scores on workshop questionnaires increased from 77.4 percent correct on a presession questionnaire to 91.3 percent correct on a postsession questionnaire.
Henry Kusuma Adikara
Full Text Available This paper’s for discuss the importance of New Public Financial Management (NPFM legitimacy. As part of the new regulation in the finance sector, NPFM promotes the application of transparency and accountability of company expenditures, risk management and value for money. However, literature study revealed that NPFM is not implemented yet in the public organization, especially in the developing countries, like Indonesia. It is predicted that it is due to socio-cultural aspect of the implementation of NPFM does not meet the society expectations. This paper explores and suggests that socio-cultural aspect should be taken into account in the implementation of NPFM or NPM.
The public financial management (PFM) performance assessment in Mali covered all central government revenues and expenditures and the institutions responsible for their management. This means that the assessment covered central government ministries and institutions, along with their de concentrated units in the regions (governors' staff); and autonomous government agencies, of which there...
Sorin Gabriel Anton
Full Text Available Financial risk management has rapidly evolved over the past two decades and has become an indispensable function in many institutions from different area of activities. In the last two decades, as the financial markets have become more and more mature, an increasing number of firms from emerging economies have chosen to use derivatives to hedge financial risks. As a result, risk management with financial derivatives has attracted much attention recently, becoming an important topic in the financial literature. However, we know little about the use of financial derivatives by firms from emerging economies and about the effect of these instruments on firms’ risk and value. The aim of the paper is to provide new insights into the use of financial derivatives for hedging purpose by non-financial firms from emerging markets. We analyzed risk management practices on a sample of 68 non-financial firms listed at Bucharest Stock Exchange (BSE over a long time frame (2001 to 2011. We found that Romanian non-financial firms from our sample are exposed mainly to commodity price risk, currency risk, interest rate risk, and liquidity risk. More than half of the firms in our sample (55.88% publish in their annual reports the goal of risk management process. Our results show that 10.29% of non-financial firms in our sample use financial derivatives to hedge their currency, interest rate or commodity price risks. We also found that the volatility caused by the global financial crisis determined many firms to use financial derivatives over the period 2007-2011. Nevertheless, the use of financial derivatives by Romanian non-financial firms is low relative to values registered for other emerging economies. The most important factors that hindered the use of financial derivatives have been the low liquidity of exchange derivatives markets, high hedging costs, and the lack of risk management expertise. The traditional approach of managing risks individually is
Full Text Available If emerging markets are to achieve their objective of joining the ranks of industrialized, developed countries, they must use their economic and political influence to support radical change in the international financial system. This working paper recommends John Maynard Keynes's "clearing union" as a blueprint for reform of the international financial architecture that could address emerging market grievances more effectively than current approaches. Keynes's proposal for the postwar international system sought to remedy some of the same problems currently facing emerging market economies. It was based on the idea that financial stability was predicated on a balance between imports and exports over time, with any divergence from balance providing automatic financing of the debit countries by the creditor countries via a global clearinghouse or settlement system for trade and payments on current account. This eliminated national currency payments for imports and exports; countries received credits or debits in a notional unit of account fixed to national currency. Since the unit of account could not be traded, bought, or sold, it would not be an international reserve currency. The credits with the clearinghouse could only be used to offset debits by buying imports, and if not used for this purpose they would eventually be extinguished; hence the burden of adjustment would be shared equally - credit generated by surpluses would have to be used to buy imports from the countries with debit balances. Emerging market economies could improve upon current schemes for regionally governed financial institutions by using this proposal as a template for the creation of regional clearing unions using a notional unit of account.
Full Text Available The financial reform is one of the most important reforms prescribed by the Washington Consensus. With its internal and external components, it occurs in the final stages of the process of economic liberalization. In this work, and after listing, briefly, the causes of financial liberalization, we are going to study in a second section financial development and bank performance in four countries of the MENA region: Tunisia, Algeria, Morocco and Egypt. In this context, we will explore some criteria for determining if the banking sector is performing as the level of intermediation margins, the state of the banking service, and so on. The third section will be subject to an assessment of financial liberalization since the start of reforms to the present day, while focusing on the impact of liberalization on the investment, savings, capital entry, and so on. Our conclusion will be in the form of recommendations aimed at showing that overall reforms, significant progress have been made in recent years but much remains to be done.
Boby COSTI; Marius BOIŢĂ; Cosmina REMEŞ
This article aims to highlight the role of financial-accounting information for the use in the financial management of the company, starting from the most recent writings in the field. Although it is hard to imagine that the financial management uses individualized financial- accounting information, attributed solely to a particular activity within the enterprise, still we tried to address the information according to the main activities that produce and use information, respectively: of inve...
Granetto, Paul J; Peek, Marvin L; Armstrong, Jack L; Wenzel, Paul C; Furey, Kathleen A; Zimmerman, Craig W
... are: the Corps of Engineers Financial Management System, the Corps of Engineers Enterprise Management Information System, and the Defense Departmental Reporting System - Audited Financial Statements...
Full Text Available Rising global competition, increasing deregulation, and introduction of innovative products have pushed financial risk management to the forefront of today's financial landscape. Identification of different types of risks and effective management of these risks in the international financial system would help to alleviate crisis, financial losses and also helpful to the long term success of all the financial institutions. The present study aims to analyze different types of risk management strategies and throws some light on challenges and opportunities regarding implementation of Basel-II in international financial system. The present paper also attempts to discuss the different methods and techniques used to measure financial risk management. There are three types of risk faced by all financial institutions: market risk, credit risk and operational risk. In commercial banking, credit risk is the biggest risk; in investment banking, its market risk; and in asset management, it’s operational risk.
... with the financial reporting requirements of the grant or subgrant. (2) Accounting records. Grantees... advances to the grantees. (c) An awarding agency may review the adequacy of the financial management system... 45 Public Welfare 1 2010-10-01 2010-10-01 false Standards for financial management systems. 92.20...
... financial reporting requirements of the grant or subgrant. (2) Accounting records. Grantees and subgrantees... advances to the grantees. (c) An awarding agency may review the adequacy of the financial management system... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Standards for financial management...
... financial reporting requirements of the grant or subgrant. (2) Accounting records. Grantees and subgrantees... advances to the grantees. (c) An awarding agency may review the adequacy of the financial management system... 45 Public Welfare 3 2010-10-01 2010-10-01 false Standards for financial management systems. 602.20...
... financial reporting requirements of the grant or subgrant. (2) Accounting records. Grantees and subgrantees... advances to the grantees. (c) An awarding agency may review the adequacy of the financial management system... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Standards for financial management...
... financial reporting requirements of the grant or subgrant. (2) Accounting records. Grantees and subgrantees... advances to the grantees. (c) An awarding agency may review the adequacy of the financial management system... 28 Judicial Administration 2 2010-07-01 2010-07-01 false Standards for financial management...
... financial reporting requirements of the grant or subgrant. (2) Accounting records. Grantees and subgrantees... advances to the grantees. (c) An awarding agency may review the adequacy of the financial management system... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Standards for financial management systems...
... financial reporting requirements of the grant or subgrant. (2) Accounting records. Grantees and subgrantees... advances to the grantees. (c) An awarding agency may review the adequacy of the financial management system... 10 Energy 4 2010-01-01 2010-01-01 false Standards for financial management systems. 600.220...
Butt, Babar Zaheer; Hunjra, Ahmed Imran; Rehman, Kashif-Ur-
This study measures the relationship between organizational performance and financial management practices like capital structure decision, dividend policy, investment appraisal techniques, working capital management and financial performance assessment in Pakistani corporate sector. Sample of the study consisted of forty companies operating in Pakistan, related to different sectors and listed at Karachi Stock Exchange. The finance executives and financial analysts of the companies respon...
... GOVERNMENT ACCOUNTABILITY OFFICE Financial Management and Assurance; Government Auditing Standards.... Dalkin, Director, Financial Management and Assurance. [FR Doc. 2010-23374 Filed 9-17-10; 8:45 am] BILLING... financial and performance auditing drawn from all levels of government, private enterprise, public...
... 7 Agriculture 1 2010-01-01 2010-01-01 false Financial management and records. 25.606 Section 25... COMMUNITIES Round II and Round IIS Grants § 25.606 Financial management and records. (a) In complying with the... retained in electronic form. (b) Grantees must retain financial records, supporting documents, statistical...
Roberts, Stephen A.
The financial environment within library and information services is reviewed and a structure for financial management is presented based on funding source and level of commercial activity. Objectives for financial management of library and information services is developed and reviewed in light of future trends and stakeholder perspectives.…
Financial management is crucial for planning bank's asset and liabilities while taking consideration for multiple objectives. The objective of this study is to develop a Goal Programming (GP) model to optimize the financial management of Public Bank Berhad in. Malaysia. Six goals from the financial statements namely total ...
Andrey G. Mikheev
Full Text Available The article discusses the application of process approach to financial management. The multilevel financial management methodology is described. It is based on the delegation of the financial management functions in the downstream division of the organization, process automation, transfer of financial resources between units of different levels of the hierarchical structure of the credit institution, the implementation of a financial management mechanism of the process approach, execution of business processes in the computer environment, using the strategic management of the organization by changing the coefficients, which are the parameters of decentralized control mechanism, using the construction of the «fast» financial indicators, taking into account the terms of financial resources transfer transactions and effective transformation of business processes. The article is focused on the credit institution business management through the application of process transformation to transfer funds business processes.
.... Performance based logistics links acquisition and supply chain management in the Total Life Cycle Systems Management and thus may provide the opportunity for true reform resulting in increased...
.... 1 The CFO Act calls for the modernization of financial management systems, including the systematic measurement of performance, the development of cost information, and the integration of program, budget, and financial information.
Călin Emilian HINȚEA
Full Text Available Strategic planning is an excellent tool that local governments can (and should use in order to deal effi ciently with change, which means that planning is an important aspect of public sector reform, arguably one of the defi ning elements of the public policy landscape for the past three decades (Pollitt and Bouckaert, 2011. Our main objective with this research is twofold: to analyze why and how local public administration uses strategic planning as a managerial tool for managing change (reform, and to identify whether the planning efforts display a specifi c reform pattern. We employed a quantitative methodology – online survey – to collect data on the strategic planning process at the local level in Romania, with a specifi c framework for the strategic profi le (Hinţea, 2015 and another three dimension model – NPM, NWS, NPG1 – for the reform component (Pollitt and Bouckaert, 2011. Our analysis indicates that over 70% of strategic planning efforts are done because it is a mandatory condition for accessing EU funds. Major issues concern implementation, monitoring and evaluation with only around a third of organizations having a formal body responsible for this. Although the process has mixed characteristics, NWS type elements are more common/preferred, while NPM seem least common/preferred by local authorities
The object of the paper is to review theoretical and empirical contributions to the optimal management of risk selection incentives ('cream skimming') in health sector reforms. The trade-off between efficiency and risk selection is fostered in health sector reforms by the introduction of competitive mechanisms such as price competition or prospective payment systems. The effects of two main forms of competition in health sector reforms are observed when health insurance is mandatory: competition in the market for health insurance, and in the market for health services. Market and government failures contribute to the assessment of the different forms of risk selection employed by insurers and providers, as the effects of selection incentives on efficiency and their proposed remedies to reduce the impact of these perverse incentives. Two European (Netherlands and Spain) and two Latin American (Chile and Colombia) case studies of health sector reforms are examined in order to observe selection incentives, their effects on efficiency and costs in the health system, and regulation policies implemented in each country to mitigate incentives to 'cream skim' good risks.
Full Text Available This article aims to highlight the role of financial-accounting information for the use in the financial management of the company, starting from the most recent writings in the field. Although it is hard to imagine that the financial management uses individualized financial- accounting information, attributed solely to a particular activity within the enterprise, still we tried to address the information according to the main activities that produce and use information, respectively: of investment, of exploitation and of financing. A proper management, at the company’s level, contributes to better products at lower prices, a higher salary and at the same time, to achieve higher incomes for those who contributed with capital in that company. Therefore, the financial management is a subsystem of the overall management of the company, aimed at ensuring the necessary financial resources, their profitable allocation and use, increasing the company’s value and of the safety of patrimony.
LA NECESIDAD DE REACTIVACIÓN DEL CRECIMIENTO DE LAS SOCIEDADES LABORALES Y LA REFORMA DE SU LEGISLACIÓN: ANÁLISIS ECONÓMICO-FINANCIERO DE SUS PRINCIPALES IMPLICACIONES / THE NECESSITY OF REACTIVATION OF THE GROWTH OF THE LABOR MANAGED FIRMS AND THE LAW REFORM: ANALYSIS OF ECONOMIC AND FINANCIAL MAIN IMPLICATIONS
Sonia MARTÍN LÓPEZ
Full Text Available La crisis económica actual ha debilitado el tejido empresarial español reduciéndose el número de nuevas iniciativas empresariales que se ponen en marcha. Las Sociedades Laborales, no han sido ajenas a los efectos de la citada crisis, y por tanto, también han visto ralentizado el ritmo de nuevas constituciones. No obstante, en el caso de las Sociedades Laborales no sólo es importante analizar la incidencia de la crisis económica, sino que existen otra serie de factores ajenos a la misma que precipitaron su declive antes de que los efectos de la crisis tuvieran su reflejo en la economía española. A lo largo de este trabajo se pretende, una vez estudiados los factores expuestos anteriormente y su incidencia en la evolución y constitución de nuevas sociedades, analizar las implicaciones económicas y financieras más relevantes que podrían tener tanto en las propias Sociedades Laborales y en su evolución futura, como en sus trabajadores, socios y no socios, con contrato indefinido, las principales propuestas elaboradas por CONFESAL (Confederación Empresarial de Sociedades Anónimas Laborales de España de cara a la próxima reforma de su legislación./ The current economic crisis has affected the Spanish enterprises, and the number of new enterprise initiatives that start up has reduced. The Labour Managed Firms have seen slowed down the rate of new constitutions. However, in the case of the Labour Managed Firms not only it is important to analyze the incidence of the economic crisis, but another factors which precipitated their declivity before the arrival of crisis effects. Throughout this work it is tried, once studied the set out factors previously and their incidence in the evolution and constitution of new societies, to analyze the economic and financial implications more important in the own Labour Managed Firms and their future evolution, like in their workers, partners and nonpartners, with indefinite contract, the main
... to improve the performance, management, and accountability of the federal government. Other major elements of the framework include financial management reforms, such a the Chief Financial Officers (CFO...
Full Text Available The paper studies an objective appraisal of financial capital value in industrial enterprise development management. The authors draw attention to a limited scope of work in the area of financial management under application of a traditional approach to appraisal of enterprise financial capital value and describe a new advanced approach to this problem solving. The paper focuses on reformation of balance sheet statement, in which economic benefit and reserves of financial capital are included by the authors; the author’s methodology for appraisal of financial capital value and its application sphere are denoted. In accordance with a case study, we confirm possibility of more accurate appraisal of enterprise investment opportunities by taking into account economic benefit from reserve of liquidity and borrowing capacity, which increases financial capital value. The practical approval results affirm that application of proprietary methodology for appraisal of financial capital and its elements has practical utility in solving problems of determination of required amount of attracted foreign investments and problems of determination of fair value of company take of an external investor, which are aimed at minimizing risks of corporate ownership dissemination and improving managerial efficiency of an industrial enterprise.
Full Text Available The context of this study is the nation-wide reform of local government in Finland, focusing on line managers and their scope of agency. Our data comprise two large-scale surveys of 40 municipalities in 2009 and 38 in 2011. The respondents were line managers from different levels of the hierarchy and, for comparative purposes, staff from the same units. Resources and constraints of agency were studied both in relation to the immediate work of the respondents and to the broader issues of municipality reform. Broad-scale reforms proceed in stages that require different forms of agency. Predominantly, a higher position in the hierarchy seemed to give better conditions for agency, but this was not always the case. Notable were the high values for intrinsic rewards of work given by all groups, indicating the existence of conditions that enable new cognitive and learning challenges to be met. It seems that this potential was not actualized satisfactorily in the accomplishment of development activities. The supervisor’s influence on the social climate of the units was evident in the longitudinal setting. From the perspective of distributed agency, this result is highly significant when one considers that the social environment is the immediate context of agency.
Economical constraints within the health care system advocate the introduction of tighter control of costs in clinical laboratories. Detailed cost information forms the basis for cost control and financial management. Based on the cost information, proper decisions regarding priorities, procedure choices, personnel policies and investments can be made. This presentation outlines some principles of cost analysis, describes common limitations of cost analysis, and exemplifies use of software to achieve optimized cost control. One commercially available cost analysis software, LabCost, is described in some detail. In addition to provision of cost information, LabCost also serves as a general management tool for resource handling, accounting, inventory management and billing. The application of LabCost in the selection process of a new high throughput analyzer for a large clinical chemistry service is taken as an example for decisions that can be assisted by cost evaluation. It is concluded that laboratory management that wisely utilizes cost analysis to support the decision-making process will undoubtedly have a clear advantage over those laboratories that fail to employ cost considerations to guide their actions.
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service Proposed Collection of... Depositary, Financial Agency, and Collateral Agreement AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of...
... DEPARTMENT OF THE TREASURY Office of Thrift Supervision Financial Management Policies--Interest... invite comments on the following information collection. Title of Proposal: Financial Management Policies... Office of Management and Budget (OMB) for review and approval, as required by the Paperwork Reduction Act...
... DEPARTMENT OF THE TREASURY Office of Thrift Supervision Financial Management Policies--Interest... concerning the following information collection. Title of Proposal: Financial Management Policies--Interest... collection requirement described below to the Office of Management and Budget (OMB) for review, as required...
... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Indicator #6, financial management... URBAN DEVELOPMENT PUBLIC HOUSING MANAGEMENT ASSESSMENT PROGRAM § 901.35 Indicator #6, financial management. This indicator examines the amount of cash reserves available for operations and, for PHAs...
SSPO, the largest program office in the Navy and in existence for over 20 years, has perfected time tested financial management procedures which may...serve as a model for the student of program management. This report presents an overview of the SSPO financial management concepts and general
... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial management standards. 3015.61 Section 3015.61 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF AGRICULTURE UNIFORM FEDERAL ASSISTANCE REGULATIONS Standards for Financial...
Millennium Challenge Corporation — The Honduras Threshold Country Program (TCP) aims to increase the efficiency and transparency of public financial management (PFM) and public private partnerships...
Aug 27, 2015 ... Principles, theoretical concepts and factors affecting ... Keywords: Team, Teamwork, Effectiveness, Financial, Management,. Companies, Strategic ..... The response rates were higher from the Accounting, Client Service and.
Full Text Available The article is devoted to the problems related to the reform of land management from the beginning of the land reform ill the presentine. This need has arisen due to making another attempt to reorganize the structure of the land structures. With the launch of the land reform established the State Committee of Ukraine for Land Resources in 1992. To speed up land reform and land privatization in 2001 formed the administrative bodies of the State Committee for Land Resources of Ukraine. In order to improve the system of state land management in 2011 created the State Agency of Land Resources of Ukraine, which was reorganized in 2014 into the State Service of Ukraine of geodesy, cartography and cadastre. Over the years, in order to "optimize" the system of central executive body, content of this body has not been changed and constantly was changing its name and subordination, namely: the State Committee for Land Resources - Ministry of Ecology and Natural Resources of Ukraine, the State Agency of Land Resources of Ukraine - Ministry of Agrarian policy and Food of Ukraine, State Service of Ukraine of geodesy, cartography and cadastre - Ministry of regional development, construction and housing. On the basis of analysis concerning the powers of the central executive authorities, local authorities found that the newly farmed Service State Land Cadastre das not contribute to the effectiveness of the administration, especially at the national level, as these features ave not provided by "Regulations on State Land Cadastre " and other regulations. In addition, the local level detected removal of local government in matters of land relations. In conclusion, proposed system based redistribution of powers on the level of central executive bodies and local authorities to reform the system of land management with regard to decentralized processes in Ukraine. It is advisable to restore central authority for land reform and regulation of land relations to the
Full Text Available Process knowledge of the financial situation of the economic entity presupposes the use of analysis and synthesis, as indispensable tools of investigation. Financial management of the economic entity have to belong to the basic role in strategic financial decisions that would solve the problem of effective management of the process optimal growth, balanced and proportionate entity. That is why it becomes necessary and imperative objective analysis of the implications of the current financial management in economic entities familiarize managers with the basic tools with which they operate, acquiring knowledge about planning and financial control, evaluation techniques of investment projects, about how to conduct financial and economic diagnosis and management control of the entity, the key issues in its orientation towards performance.
Feustel-Büechl, Jörg; Arend, Harald; Derio, Eric; Infante, Giovanni; Kreiner, Gerhard; Phaler, Jesse; Tabbert, Michael
ESA has undertaken the Inter-Directorate Reform of Corporate and Risk Management to strengthen the Agency's internal operations. The reform was completed at the end of 2006, encompassing five dedicated projects on Risk Management, Agency-Wide Controlling System, Project Plan and Integrated Project Review, General Budget Structure and Charging Policy, and Corporate Information Systems. It has contributed to improved management of the Agency's internal operations by engaging all internal stakeholders in a common objective, introducing improvements to planning and management methods, elaborating consolidated information structures and tools, contributing to enhanced transparency and accountability, and by providing qualified new policies, processes and tools.
Thomas, David E.
This executive position paper proposes recommendations for designing reform models between public and private sectors dedicated to improving school reform work in low performing urban high schools. It reviews scholarly research about for-profit educational management organizations, high reliability organizations, American high school reform, and…
.... The study provides evidence of the extent of personal financial problems in the military. The analysis describes how financial problems vary with the demographics of the military and with particular aspects of the military work environment (e.g...
The Financial Analyst position is essential for the administration and smooth ... Prepare monthly journal voucher to record the donor partnership revenue in ... of the business requirements for the development and enhancement of financial ...
IOV DANIELA RODICA
Information concerning financial performance is one of the objectives of the annual financial statements of credit institutions. The main source containing this information is profit and loss statement. A correct and complete information can not be limited to this annual report. Understanding the concept of financial performance requires a holistic approach of the entity. An overview of information on financial performance will be achieved by coordinating information about the...
Full Text Available The global economic crisis that first gripped housing market at the USA and then spread to the other parts of the world, pointed out to the necessity of the reforms in all areas. One of the areas where the reforms are necessary is the area of accounting. These reforms are important for all interested users in a way that they provide them with all the necessary information's at the right time. Accounting, as one of the main pillars of society, can strengthen or weaken the confidence of shareholders, institutional investors and economic policy makers of the country. So it is necessary that financial information are accurate and reliable. In order to eliminate the economic phenomena that have arisen as a result of the crisis, like the economic stagnation and reduction of financial resources, we must find out causes of their origin and manifestations. This is possible by using the well-defined economic policies and accounting regulations, which takes place at predefined and prescribed by IAS and IFRS. This paper will highlight the impact of the financial crisis on accounting and the International Accounting Standards, with particular reference to the situation in Serbia. One of the necessary conditions that Serbia has to fulfill to become a member of the EU is to harmonize its accounting policies and practices regulative to those applied in the EU.
Five strategies can help hospital financial leaders balance their organizations' financial and risk positions: Understand the hospital's financial condition; Determine the desired level of risk; Consider total risk; Use a portfolio approach; Explore best-case/worst-case scenarios to measure risk.
.... The passage of the Chief Financial Officers Act of 1990 and subsequent fiscal reform legislation set forth a mandate for financial accountability through implementation of an integrated financial...
Biørn, Erik; Hagen, Terje P; Iversen, Tor; Magnussen, Jon
For policy-makers the heterogeneity of hospital response to reforms is of crucial concern. Even though a reform may entail a positive effect on average efficiency, policy-makers will consider the reform as less attractive if the variation in hospital efficiency increases. The reason is that increased variance of efficiency across hospitals is likely to increase the impact of geography on access to hospital services. This paper examines the heterogeneity with respect to the impact of a financial reform-Activity Based Financing (ABF)-on hospital efficiency in Norway. From a theoretical model we find an ambiguous effect of hospital heterogeneity on the effect of ABF on efficiency. The data set is from a contiguous 10-year panel of 47 hospitals covering both pre-ABF years and years after its imposition. Substantial heterogeneity in the responses, as measured by both estimated and predicted coefficients, is found. We did not find any significant correlation between pre-ABF measures of efficiency and the effect of ABF on efficiency. We did however find a strongly significant correlation between the effect of ABF and post-ABF efficiency. Thus, the analysis confirms the impression that, whereas pre-ABF efficiency did not play any role in how hospitals responded to ABF, those responding generally ended up as better-performing hospitals. Hence, for the type of reform studied in this article we find that policy-makers do not need to worry about the impact of location on patients' access to hospital services.
Vitaly J. Ozira
Full Text Available This paper reviews general issues relate to Russian financial system and policies in the context of economies relying to a significan extent on market mechanisms to allocate resources. After a brief introduction describing the functions of the financial sector in a marke economy, the paper presents an inventory o the most common problems hindering the effective performance of the financial system as a development tool, and some policy guideline based on the analysis. The text aims a presenting a brief exposition of the basic principles that provide a conceptual framework to review the issues.Finance, like money, is not a realit which exists independently from the specific cultural, political and legal features of a given society. The reason is that finance is ai institution, which organizes relevant modes o interaction among various groups or individual economic units claims on the social resources, the functions fulfilled by the financial sector need not be the universal.The views expressed in the paper are the author's own responsibility and should not be interpreted as presenting the official position paper on financial sector management.El presente artículo examina problemas generales concernientes al sector financiero de Rusia a la luz del sistema económico apoyado en los mecanismos de mercado de la distribución de los recursos. Después de la introducción que describe las funciones de dicho sector en las condiciones de mercado, el artículo representa un cuadro típico de problemas que frenan el funcionamiento eficaz del sistema financiero como instrumento de desarrollo. Asimismo el autor ofrece recomendaciones prácticas basadas en el resultado del análisis llevado a cabo por él. El texto del artículo contiene los principios fundamentales que son, propiamente dicho, los marcos conceptuales del presente trabajo.Las finanzas, como es sabido, están estrechamente vinculadas a las peculiaridades jurídicas, políticas y culturales de
Full Text Available The path between financial meltdown and moral hazard in banking is, at best, narrow and impervious. During the financial crisis, public support became the standard response to save the banks in difficulty, heightening and broadening the moral hazard issue: subordinated/senior debt holders and large depositors were bailed out and equity holders were partially sheltered. In the Eurozone, the implicit promise to bail-out governments in difficulty has encouraged SIFIs and other financial operators to speculate on the yield differential between sovereigns and the ECB money market interest rates. The policy framework proposed here is two-pronged: the EFSF should evolve to permit more flexible and wide-ranging interventions, and be able to manage sovereign debt restructuring; with respect to SIFIs, very early corporate, market and supervisory responses are suggested. Intervention of supervisory authorities with mandatory (special powers would occur before the threshold of non-viability and, on a gone-concern basis, in terms of a European resolution procedure.
Full Text Available The Time Value of Money is a important concept in financial management. The Time Value of Money (TVM includes the concepts of future value and discounted value. It is mandatory for a financial professional to know and operate the specific techniques of TVM. Within the present article we present the basic notions and illustrate their application in the field of investment projects. The case studies presented are valuable for an efficient financial management.
This study analysed the effect of financial policies on the performance of line managers in Ugandan Universities. The field research was carried out in private and public universities. Every university had a financial policies so their line managers were expected to perform their duties effectively. The objectives of the study ...
... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Standards for financial management systems... AUDIT REQUIREMENTS AND COST PRINCIPLES FOR ASSISTANCE PROGRAMS Uniform Administrative Requirements for... Standards for financial management systems. (a) A State must expand and account for grant funds in...
Danes, Sharon M.; Garbow, Jennifer; Jokela, Becky Hagen
Study investigates distal and proximal contextual influences of the American Indian culture that affect financial decisions and behaviors. Primary household financial managers were interviewed. Study was grounded in Deacon and Firebaugh's "Family Resource Management" theory. Findings indicated that American Indians view many concepts…
... 7 Agriculture 15 2010-01-01 2010-01-01 false Financial management of labor housing. 3560.578 Section 3560.578 Agriculture Regulations of the Department of Agriculture (Continued) RURAL HOUSING... § 3560.578 Financial management of labor housing. The requirements established in subpart G of this part...
Full Text Available This paper briefly introduces the concept of the refined financial management, elaborates on its characteristics and puts forward some main points about it. It also comes up with some personal suggestions for reference on effective ways of refining financial management.
Kerkmann, Barbara C.
The financial management habits and perceptions of young married couples were examined, as well as their financial problems and perceptions of their problems' magnitude in an attempt to assess the relationship of these financial factors to marital satisfaction. A survey was delivered to 604 residents of family student housing at Utah State University. The spouse who predominantly handled family finances was asked to complete the survey. By using an incentive for completing the survey, a respo...
This financial management status report contains the GSA vision statement, goals and strategies, asset management, organization and personnel, accountability and control, financial management systems...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Request for Payment of Federal Benefit by Check, EFT Waiver Form AGENCY: Financial Management... to Financial Management Service, 3700 East West Highway, Records and Information Management Branch...
Victoria María Antonieta Martín Granados
Full Text Available The financial information is the document that the administration of a juridical entity issues to know his financial situation. The financial information is useful and confiable for the users of the financial information when this has been prepared under conditions of certainty. This certainty is provided by the administration when it establishes political and procedures of internal control, as well as the surveillance in the accomplishment of the internal control. This control incides in the financial information since it is inherent to the operative flow and extends itself in relevant information, veracious and comparable. This is important for users of the financial information, due to the fact that they take timely and objective decisions.
Exposure to extreme weather events can be reduced through physical actions (e.g., dams/reservoirs) or mitigated financially (e.g., insurance). Often physical actions involve investments in expensive infrastructure that reduce exposure, but whose benefits are only occasionally realized. Financial risk management does not reduce the impacts of an event, but rather redistributes them temporally, albeit at a cost. Nonetheless, these costs are typically much smaller, at least in the short run, than those incurred for physical actions. Financial strategies are also more flexible than physical ones in the face of an uncertain future. Financial contracts specifically designed to manage extreme environmental risks are becoming more common and can either replace or complement infrastructural investments as part of a risk management portfolio. In order to make optimal decisions as to the relative levels of physical and financial risk mitigation to employ, it is necessary to understand the relative merits of each strategy. This research develops a method for analyzing tradeoffs between physical and financial risk management strategies. We identify the unique cost and benefit properties of each strategy and integrate them into a single model that details the tradeoffs involved in various portfolios of physical and financial strategies. These methods are then applied to evaluate decisions to pursue emergency dredging during drought on the Mississippi River, which is used to mitigate the increased costs and/or reduced revenues barge operators face when water levels are low. Currently the U.S. Army Corps of Engineers funds most emergency dredging operations during major droughts and they are considering more intensive strategies for future droughts. Barge carriers and shippers though could manage at least some portion of their financial risks through a series of existing and experimental financial contracts. This work involves the formulation of these experimental contracts and
Palmer, Lance; Bliss, Donna L.; Goetz, Joseph W.; Moorman, Diann
The effect of a financial management intervention on college students' financial behavior was examined. The intervention strategy, a form of expenditure tracking, focused on consciousness-raising and was implemented among 170 undergraduate students. Qualitative analysis of participants' self-reflection papers revealed that awareness of spending…
Bulgaria's ambitious program of reforms in several areas, including public financial management (PFM), focuses greatly on its entry into the European Union (EU). Thus, the country has a well developed system, and structure of financial management, that relies heavily on information technology (such as in the area of cash management), and has independent external audits, and parliamentary o...
World Bank; Inter-American Development Bank
This Public Financial Management Performance Report (PFMPR) analyzes the performance of Colombia's public financial management (PFM) institutions, systems and processes. It documents areas where performance is close to or follows international good practice, as well as opportunities to further enhance PFM contribution to the goals of strengthening fiscal discipline, enabling more efficient...
Dyba O. M.
Full Text Available Authors have analyzed and synthesized the main features of financial sources management for innovative development in development economies of foreign countries. The article describes the peculiarities of above mentioned type of management, using the examples of such countries as Germany, USA and Japan, which represent different kinds of economy and society. The main sources for innovative development financing are highlighted within the national economies conditions. The authors proposed the generalized models of financial sources management for innovative development. The information will be useful for Ukrainian model of financial sources management development.
...) as of and for the fiscal years ending September 30, 2001, and 2000. Our audits were required by the Chief Financial Officers Act of 1990, as expanded by the Government Management Reform Act of 1994...
Full Text Available The paper reviews major stages of establishment and development of financial management, main conceptual theories, and methods, approaches, developed by academic economists in the field of corporate finance that became the basis for the development of financial management as a science. In the paper, the authors identify the major five stages of its establishment, in the process of which the range of thoroughly studied issues was constantly expanded, the methodologies of their research were enriched. The paper describes the main scientific works of famous economists of the relevant periods that have made a significant contribution to the formation and development of financial management as a science. The authors drew the conclusions about prerequisites to the development of financial science and research priorities in the financial management of enterprises.
Michele Caroline Lima Formenti
Full Text Available This study aims to identify the profile of the Financial Management in the Small Business in Osasco city. For development of this research was first done a bibliographic survey of issues related to the topic, such as: Definition of Small Business, General Law, Tax Aspects, Accounting Model (ITG 1000, Financial Controls. The second stage consisted of field research in which a questionnaire was prepared for Small Business managers of the municipality to identify the Financial Management model used. The study revealed that over 80% of Small Business perform some type of financial control, either by means of computer systems or electronic spreadsheets and that the greatest difficulty in Financial Management of these companies are: high taxes, tough competition and lack skilled labor.
... 42 Public Health 1 2010-10-01 2010-10-01 false How does an Indian Tribe demonstrate financial stability and financial management capacity? 137.21 Section 137.21 Public Health PUBLIC HEALTH SERVICE... How does an Indian Tribe demonstrate financial stability and financial management capacity? The Indian...
Full Text Available The paper intends to emphasise the importance of budget resources forecasting for long periods of time, within thefinancial management. An as accurate as possible forecasting of the volume of financial resources will represent the basis forthe future projections of the expenditure of local communities, as they are regulated by law, knowing that one of the principlesrepresenting the basis of budget making is that of the balanced budget. To the same extent, the volume of the budget liquiditieswill depend on the rigorousness of the design of the volume of financial resources.. Beyond the abstract character of themathematic calculus made by specialists in econometrics, the financial manager is also interested to know the forecastingtechniques so that he/she can draw up the income and expenditure budget, the basis for the implementation of the economicsocialdevelopment strategies of the local communities. The financial management remains a fundamental component of thepublic management through the theoretical-methodological arsenal made available for the loan officer.
economic reforms across the country. The reform in all sectors aims at addressing dissatisfaction of the Nigerian populace restlessly desiring change for a better Nigeria. The National Economic Empowerment and Development Strategy, (NEEDS), ...
C. Alberto Dorantes
Several econometric software offer portfolio management tools for practitioners and researchers. For example, MatLab and R offer a great variety of tools for the simulation, optimization, and analysis of financial time series. Stata, together with Mata, offers powerful programming tools for the simulation, optimization, and analysis of financial data. However, related user commands are scarce. In this presentation, commands for online market data collection, data manipulation, and financial a...
Eakin, Hallie; Eriksen, Siri; Eikeland, Per-Ove; Øyen, Cecilie
Although many governments are assuming the responsibility of initiating adaptation policy in relation to climate change, the compatibility of "governance-for-adaptation" with the current paradigms of public administration has generally been overlooked. Over the last several decades, countries around the globe have embraced variants of the philosophy of administration broadly called "New Public Management" (NPM) in an effort to improve administrative efficiencies and the provision of public services. Using evidence from a case study of reforms in the building sector in Norway, and a case study of water and flood risk management in central Mexico, we analyze the implications of the adoption of the tenets of NPM for adaptive capacity. Our cases illustrate that some of the key attributes associated with governance for adaptation—namely, technical and financial capacities; institutional memory, learning and knowledge; and participation and accountability—have been eroded by NPM reforms. Despite improvements in specific operational tasks of the public sector in each case, we show that the success of NPM reforms presumes the existence of core elements of governance that have often been found lacking, including solid institutional frameworks and accountability. Our analysis illustrates the importance of considering both longer-term adaptive capacities and short-term efficiency goals in public sector administration reform.
Full Text Available Liquidity and working capital management belongs to one of the fundamental tasks of short-term financial management. However, in the context of net working capital, the issue of management of current assets and liabilities significantly overlaps with long-term financial management, in which the effects of various decisions have long-term consequences, with considerable inertia and possibility of high losses. The present study is therefore focused on the determination of appropriate amount of working capital, as an important part of financial decision making process in the company. The paper presents an empirical research aiming to identify the appropriate approach to accurate calculations of net working capital and determining its needs. The main contribution of the study can be found in the verification of calculation method of net working capital needs, which, according to the authors, may be beneficial both for business practice and teaching of financial management at universities.
..., Management (Chief Financial Officer). Alfred J. Kopec, Assistant Commissioner, Business Architecture. Sheryl... DEPARTMENT OF THE TREASURY Fiscal Service Senior Executive Service; Financial Management Service Performance Review Board (PRB) AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice...
... DEPARTMENT OF THE TREASURY Senior Executive Service; Financial Management Service Performance Review Board (PRB) AGENCY: Financial Management Service, Treasury. ACTION: Notice. SUMMARY: This notice announces the appointment of members to the Financial Management Service (FMS) Performance Review Board (PRB...
... DEPARTMENT OF THE TREASURY Senior Executive Service; Financial Management Service Performance Review Board (PRB) AGENCY: Financial Management Service, Treasury. ACTION: Notice. SUMMARY: This notice announces the appointment of members to the Financial Management Service (FMS) Performance Review Board (PRB...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Electronic Funds Transfer (EFT) Market Research Study AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of... Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial... collection. By this notice, the Financial Management Service solicits comments concerning form FMS 3144...
... and Criteria for Approval of Providers of a Personal Financial Management Instructional Course by... personal financial management instructional course (``providers'') satisfy all prerequisites of the United... in an instructional course concerning personal financial management (``instructional course'' or...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service Proposed Collection of Information: Schedule of Excess Risks AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its continuing...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of...) Program AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its continuing effort to reduce paperwork...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Pools and Associations--Annual Letter AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Authorization Agreement for Preauthorized Payment (SF 5510) AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management...
Full Text Available The article deals with the organizational support of the process of management of financial and economic activities of banking institutions. In particular, the activity of one of the main divisions of the Treasury Bank, which is created and acts as an independent unit, justifies the decision to make certain financial transactions on the relevant financial markets and manages cash flows through interaction with branches, departments and offices of the banking institution. The article also focuses on the problem of the lack of accurate and up-to-date information between the structural units that take part in the management of the finances of the banking institution. In connection with this, it is necessary to create an information and management field of the bank, which is a collection of organized information input and output flows on the financial and economic activities of the bank, forming a unified management information about the financial activities of the banking institution. The article also focuses on the concept of the creation of an informational and managerial tree, according to which, in the structure of management of financial and economic activity of a banking institution, it is necessary to allocate five levels, based on which the principle of obligatory passage of necessary information at all levels with a gradual systematization and generalization. The concept considered in the article gives an idea of the logic and methodology of creating the process of forming general managerial decisions regarding the financial and economic activity of the bank in the future.
Ray, Gayl M.; Wilson, Nick; Mangini, Rick
This document describes the essential competencies from secondary through post-secondary associate degree programs for a career in financial services and risk management. Ohio College Tech Prep Program standards are described, and a key to profile codes is provided. Sample occupations in this career area, such as financial accountant, loan…
Vienne, Kristy; Slate, John R.
With the increasing cost of a college education on the rise, college administrators need to address the long term financial, psychological, and academic risks associated with the increased responsibility of personal debt. In this qualitative study, college students' perspectives regarding the need for a personal financial management center at a…
The economic downturn is likely to have lasting effects on institutions of higher education, prioritizing proactive institutional leadership and planning. Although by design, core research facilities are more efficient and effective than supporting individual pieces of research equipment, cores can have significant underlying financial requirements and challenges. This paper explores several possible institutional approaches to managing core facilities during challenging financial times.
The economic downturn is likely to have lasting effects on institutions of higher education, prioritizing proactive institutional leadership and planning. Although by design, core research facilities are more efficient and effective than supporting individual pieces of research equipment, cores can have significant underlying financial requirements and challenges. This paper explores several possible institutional approaches to managing core facilities during challenging financial times.
Bell, Reginald L.
This article presents an interview with Ray Gonzalez, a risk consultant at Deloitte & Touche LLP, in Houston, Texas, about the financial reporting responsibilities of top, middle, and frontline managers in large and medium-size firms. This interview spotlights the necessity for timely and accurate reporting of financial information relating to…
Z. Darvas (Zsolt); D. Schoenmaker (Dirk); N. Véron (Nicolas)
textabstractEuropean Union (EU) countries offer a unique experience of financial regulatory and supervisory integration, complementing various other European integration efforts following the Second World War. Financial regulatory and supervisory integration was a very slow process before 2008,
nternational financial markets are supervised primarily by national authorities. However, national authorities are inherently incapable to regulate and supervise seamless globalised financial markets. To the extent international regulators exist, they constitute a disorderly patchwork of
Full Text Available This paper evaluated the financial performance of ABC hospital within the period of 2012 to 2013. To overcome the problems faced by the hospital related to how to measure and presented its financial performance in which financial ratio analysis was undertaken. These financial ratios were employed to measure the liquidity, assets utilization, long-term solvency and profitability of the hospital. This analysis was conducted in order to prove whether the hospital has been managed efficiently or not in accordance to Indonesian Hospital Quality Accreditation as stated in its clause on Administration Standard No. 5 Parameter No. 3 that the hospital financial management shall be conducted in appropriate way in order to guarantee its operation efficiently. The result showed that overall financial performance of ABC hospital increased considerably in those two years of the analysis. A significant change was occurred on its solvency ratio which was decreased from -2% to -8%, indicating its loose dependency due to its founder’s strong financial support. Therefore, based on this favorable result, the hospital was regarded to have efficient hospital management and thus, together with other standard fulfillment, it was accredited by Indonesian Health Ministry.
Purpose: The purpose of this paper is to discuss the role of principals in light of public management reforms taking place in the German educational system and in reference to the empirical patterns uncovered by the papers contained in the Special Issue. Policy makers have created new expectations and new technologies that seem to suggest to…
Prudence in public institutions management: the strategic financial efficiency challenge in Nigeria. ... African Research Review ... the constructive optimization of risks with a view to attracting returns in relation to variability, volatility, and vitality.
... long-standing weakness at most federal agencies. The central challenge to producing reliable, useful, and timely data throughout the year and at year-end is overhauling financial and related management information systems...
C-L. Chang (Chia-Lin); M.J. McAleer (Michael); W.-K. Wong (Wing-Keung)
markdownabstractThe paper provides a brief review of the connecting literature in management information, decision sciences, and financial economics, and discusses some research that is related to the three cognate disciplines. Academics could develop theoretical models and subsequent
Effective risk and financial management possess a great challenge for the multinational companies operating globally. Despite the increasing development of diverse hedging strategies against foreign exchange risk, global firms cannot fully foresee and measure the degree of the impact of foreign currency fluctuations. This paper aims to evaluate the exchange risk management and financial performance of the BMW Group from the year 2005 to 2016. Moreover, this paper is devoted to provide explana...
SAP ERP modules are notoriously hard to configure and use effectively without a lot of practice and experience. But as SAP ERP Financial Accounting and Controlling: Configuration and Use Management shows, it doesn't have to be so difficult. The book takes a systematic approach that leads SAP Financial Accounting and Controlling (FICO) users step by step through configuring and using all the program's facets. This approach makes configuration complexities manageable. The book's author-SAP expert, trainer, and accountant Andrew Okun
Zhang, Qiugen; Chen, Suhua; Xie, Yu; Wei, Li'an; Ding, Yuan
The curriculum of environmental planning and management is an environmental engineering major curriculum established by the teaching steering committee of environmental science and engineering of Education Ministry, which is the core curriculum of Chinese engineering education professional certification. It plays an important role in cultivating environmental planning and environmental management ability of environmental engineering major. The selection and optimization of the course teaching content of environmental planning and management were discussed which including curriculum teaching content updating and optimizing and teaching resource system construction. The comprehensive application of teaching method was discussed which including teaching method synthesis and teaching method. The final combination of the assessment method was also discussed which including the formative assessment normal grades and the final result of the course examination. Through the curriculum comprehensive teaching reform, students' knowledge had been broadened, the subject status and autonomy of learning had been enhanced, students' learning interest had been motivated, the ability of students' finding, analyzing and solving problems had been improved. Students' innovative ability and positive spirit had been well cultivated.
Bahr, Patrick; Berthold, Jost; Elsman, Martin
Domain-specific languages (DSLs) for complex financial contracts are in practical use in many banks and financial institutions today. Given the level of automation and pervasiveness of software in the sector, the financial domain is immensely sensitive to software bugs. At the same time...... automatically extract a Haskell implementation of an embedded contract DSL along with the formally verified contract management functionality. This approach opens a road map towards more reliable contract management software, including the possibility of analysing contracts based on symbolic instead of numeric...
Schnittgrund, K.P. (Univ. of California, Riverside); Baker, G.
The major focus of this research was the difference in financial-management practices used by low-income urban white, black, and Mexican-American families. A random sample of 199 interviews was completed during the spring of 1980 in Phoenix, Arizona, USA. The sample consisted of 69 white, 70 black, and 60 Mexican-American families. Differences in financial behavior did occur for each race. In addition, they were optimistic regarding their own ability to handle money and resolve financial problems but generally negative toward the ability of other families to manage money, use credit, and plan purchases. 20 references, 3 tables.
Accueil · Ce que nous faisons ... The project team will use the Public Expenditure and Financial Accountability Framework to assess the administrative, ... Le CRDI renouvelle son partenariat avec ACIAR en matière de sécurité alimentaire.
Dueker, S.; Gustafson, L.
A computerized library acquisition system developed for control of informational materials acquired at NASA Ames Research Center is described. The system monitors the acquisition of both library and individual researchers' orders and supplies detailed financial, statistical, and bibliographical information. Applicability for other libraries and the future availability of the program is discussed.
Hendrik Petrus Wolmarans
Full Text Available Although the success of small, medium and micro enterprises (SMEs is extremely important for the South African economy, their failure rate is amongst the highest in the world; some researchers estimate as high as 90 percent. Research has shown that the lack of financial management skills and application of financial management practices are some of the biggest factors contributing to SME failure. However, it is not clear from the literature which of these skills and practices are more important than others. This study aims to fill this gap by determining which financial management skills are relevant for successful SMEs. A survey was done on a sample of owner-managers of successful SMEs who had been asked, firstly, whether they performed different financial management practices and, secondly, how frequently they performed these in their companies. The study concludes that practices regarding working capital as well as profitability are much more relevant than those regarding a balance sheet or strategic finance. Similarly, financial practices related to cash flow and decision making are more relevant than those related to planning or analysing. It may be true, due to the high risk and volatile environment of SMEs, as well as the challenges that are often underestimated, that financial practices which academics regard as important are not always implemented by these companies. This study contributes to the existing body of knowledge as it determines the relative relevance and frequency of use of financial management practices by successful SMEs. KEY WORDS Small and medium enterprises, Financial management practices, Successful SMEs, Entrepreneurship education
Wang, Zhaoxin; Shi, Jianwei; Wu, Zhigui; Xie, Huiling; Yu, Yifan; Li, Ping; Liu, Rui; Jing, Limei
Since the 1980s, China has been criticized for its mode of chronic disease management (CDM) that passively provides treatment in secondary and tertiary hospitals but lacks active prevention in community health centers (CHCs). Since there are few systematic evaluations of the CHCs' methods for CDM, this study aimed to analyze their abilities. On the macroperspective, we searched the literature in China's largest and most authoritative databases and the official websites of health departments. Literature was used to analyze the government's efforts in improving CHCs' abilities to perform CDM. At the microlevel, we examined the CHCs' longitudinal data after the New Health Reform in 2009, including financial investment, facilities, professional capacities, and the conducted CDM activities. A policy analysis showed that there was an increasing tendency towards government efforts in developing CDM, and the peak appeared in 2009. By evaluating the reform at CHCs, we found that there was an obvious increase in fiscal and public health subsidies, large-scale equipment, general practitioners, and public health physicians. The benefited vulnerable population in this area also rose significantly. However, rural centers were inferior in their CDM abilities compared with urban ones, and the referral system is still not effective in China. This study showed that CHCs are increasingly valued in managing chronic diseases, especially after the New Health Reform in 2009. However, we still need to improve collaborative management for chronic diseases in the community and strengthen the abilities of CHCs, especially in rural areas. Copyright © 2017 John Wiley & Sons, Ltd.
Møller, Jorunn; Skedsmo, Guri
Since the end of the 1980s, the Norwegian education system has gone through major reform, influenced largely by new managerialist ideas. Strategies to renew the public sector were promoted as the new public management (NPM). This paper investigates the way ideas connected to NPM reforms have been introduced and interpreted in the Norwegian…
Chen, Chi-Kuang; Jiang, Bernard C.; Hsu, Kuang-Yiao
The objective of this paper is to examine the effectiveness of a creativity-fostering program in industrial engineering and management (IE&M) curriculum reform. Fostering creativity in students has become a crucial issue in industrial engineering education. In a survey of previous studies, we found few on IE&M curriculum reform. In…
Full Text Available Recent research about the financial behaviour of Slovenian firms has documented enterprise risk management as being one of its weakest areas. The goal of this article is to present insights into financial risk management, i.e. into the extent of the use of derivatives in the largest Slovenian firms and the related practices. The resultsare confronted with the same types of characteristics of US and German firms (although being much larger revealed in comparable studies. These firms provide relevant benchmarks for assessing the development gap since they operate in more advanced financial environments and are therefore expected to have much morerefined approaches to the use of derivatives than Slovenian firms. A survey points to the much smaller extent of the use of derivatives by Slovenian firms. There is a substantial gap, especially in the area of risk management policies (e.g. documentation, reporting, counterparty risk, valuation etc..
Full Text Available In the current context of the market economy development and evolution and development of companies’ activities it is remarked the proper development of economic and financial information. In this paper we shall present both the qualitative characteristics of the accounting information, from national and international perspective, and their classification according to Statement of Financial Accounting Standards No. 2. The need for information is covered by unpublished reports, statements, which include selective information from the financial statements. In the private sector, managers interested in the entity’s performance, turn to financial analysts, who on the basis of economic and financial indicators can give a diagnosis on the health of the entity.
Fonteyne, Bart; Jongbloed, B.W.A.
This report describes the results of more than fifteen years of cooperation between the Government of Mozambique, the Government of the Netherlands, the Mozambican higher education institutions and the relevant stakeholders in designing and implementing reforms in the financing of higher education
Melnykova Kateryna V.
The article offers a methodical approach to financial stimulation of logistics managers, which allows calculation of the incentive amount with consideration of profit obtained from introduction of optimisation logistics solutions. The author generalises measures, which would allow increase of stimulation of labour of logistics managers by the enterprise top managers. The article marks out motivation factors, which exert influence upon relation of logistics managers to execution of optimisatio...
Dembowski, Frederick L.; Davey, Robert D.
This chapter of "Principles of School Business Management" introduces the concept of cash management, or the process of managing an institution's moneys to ensure maximum cash availability and maximum yield on investments. Four activities are involved: (1) conversion of accounts receivable to cash receipts; (2) conversion of accounts payable to…
... 2 Grants and Agreements 1 2010-01-01 2010-01-01 false Purpose of financial and program management... Financial and Program Management § 215.20 Purpose of financial and program management. Sections 215.21 through 215.28 prescribe standards for financial management systems, methods for making payments and rules...
... 34 Education 1 2010-07-01 2010-07-01 false Purpose of financial and program management. 74.20... Requirements Financial and Program Management § 74.20 Purpose of financial and program management. Sections 74.21 through 74.28 prescribe standards for financial management systems, methods for making payments...
... 22 Foreign Relations 2 2010-04-01 2010-04-01 true Purpose of financial and program management. 518... ORGANIZATIONS Post-Award Requirements Financial and Program Management § 518.20 Purpose of financial and program management. Sections 518.21 through 518.28 prescribe standards for financial management systems, methods for...
... 25 Indians 1 2010-04-01 2010-04-01 false Standards for grantee financial management systems. 276.7... grantee financial management systems. (a) Grantee financial management systems for grants and subgrantee financial management systems for subgrants shall provide for: (1) Accurate, current, and complete disclosure...
... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Financial Management Service G...—Financial Management Service 1. In general. This appendix applies to the Financial Management Service. 2. Public reading room. The public reading room for the Financial Management Service is maintained at the...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Assignment Form AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice... Management Service, Records and Information Management Branch, Room 135, 3700 East West Highway, Hyattsville...
"Speculation" in non-financial companies in relation to exchange rate exposure management constitutes one of the contributing factors behind corporate (or more widespread) crises. Deviations from benchmark positions constitute speculation. An empirical study of Danish non-financial companies finds...... that the larger the company (ability) and the larger its relative sale on foreign markets (relevance), the more likely the company will be to benchmark its exchange rate exposures. However, at the same time the very same factors (size and foreign sale) lead to more extensive speculation. Financial solvency (value...
Costa, Julio Cesar Silva
At the beginning of the twentieth century, the techniques of Managerial Accounting represented an important advance in the field of financial management. Over the years and changes in economic environment, organizational environment has changed dramatically. The traditional financial models, the principles guided the beginning of the century, began to provide information to control and distorted decision-making. New approaches have emerged to. In this context, the TOC in Accounting (TIA) is e...
Full Text Available This study is engaged on the axis of Financial Management, with research into the factors controlling corporation in small business finance. It has as main objective to analyze the cash flow tool as a tool for financial management and specific process to describe the use of the Cash Flow tool objectives; analyze the feasibility of implementing the Cash Flow tool as an instrument of financial management and suggest proposals for suitability for deployment of Cash Flows as a financial management system. Facing these objectives the research uses the precedence of qualitative methodology and applies the instruments on-site visit, interview and questionnaire to collect data. Descriptive analysis that confront the theoretical basis and the data obtained from research is used. With the completion of the analysis the following results were achieved: description of business processes researched; identifying the needs and forms of control currently used and presentation of improvement measures for the adjustment of non-conformities identified. The study contributes to both the academic improvement by analyzing the real situation of the company, as well as it serves as a recommendation to companies embracing similar difficulties in financial management.
Mukhtar, Mohammed Ibn
Public management and administration today is about crafting, structuring and instituting. Structuration is a very integral part of all organisations. Unlike the gradualist approach, structural reform transforms the dominant system touching on main elements. Structural reform had largely come and gone without necessarily touching on some public…
Full Text Available In this paper discuss on the role and importance of information which are provided by financial statements in business decision-making is considered. Basically, financial reports represent information basis for making economic / financial decisions for a wide range of users because they represent the key source of information about the financial position of a company at the end of a period, about the achieved results of the company for the period, about the cash flow within the company etc. In accordance with the process of globalisation, international frameworks have regulated the accounting standards which have been created and introduced in order to achieve transparency and uniformity of financial reports of any company, regardless its scope of work and the country where it does its business. The management of a company is aimed at the perception of future events and the flow of values within a company as a result of present decisions, while the accounting is ex post oriented. Nevertheless, the connections between accounting and management of a company are important and multiple because it is the effects of management decisions that are evaluated through financial statements, which are the product of company accounting in which all the business decisions are processed.
The international experience of reforming of housing and communal services is considered. The main scientific and methodical approaches of system transformation of the housing sphere are analyzed in the article. The main models of reforming are pointed out, interaction of participants of structural change process from the point of view of their commercial and social importance is characterized, advantages and shortcomings are revealed, model elements of the reform transformations from the point of view of the formation of investment appeal, competitiveness, energy efficiency and social importance of the carried-out actions are allocated.
Degryse, Hans; Lambert, Thomas; Schwienbacher, Armin
Abstract: Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the uncertainty and financial returns from stock markets. Our panel data evidence covering 1830-1999 shows that tighter restrictions on the voting franchise induce a greater stock market development, whereas...
Full Text Available In popular view, the term accountability generally refers to a wide spectrum of public expectations dealing with organizational performance, responsiveness, good governance, and even morality of government and nonprofit organizations. These expectations often include implicit performance criteria – related to obligations and responsibilities – that are subjectively interpreted and sometimes even contradictory. And in this broader conception of accountability, the range of people and institutions to whom public and nonprofit organizations must account include not only higher authorities in the institutional chain of command but also the general public, the news media, peer agencies, donors, and many other stakeholders (Kearns, 1996. Government could build its accountability by implementing good and proper financial management. Financial management is a tool for government to show its performance and accountability to the public. Meanwhile, corruption is the misuse of public office for private gain. As such, it involves the improper and unlawful behavior of public-service officials, both politicians and civil servants, whose positions create opportunities for the diversion of money and assets from government to them and their accomplices (Langseth, 1999. The more corruption, the more far away from good governance, and the less public accountability. According to Klitgaard (1988, power minus accountability is corruption. This paper explains about the influences of implementing government financial management to corruption fighting and good governance in broadly view. Discussion will be derived to find out the understanding of financial management, corruption, and good governance terminology fits for Indonesia environment. The purpose of this paper is to achieve common knowledge that financial management should be implemented by public organization from strategic management for public organization approaches. Besides, reader will find out
Herr, H T
Concurrent with the recent development of the hospital financial manager's position has been the emergence of investor-owned multifacility hospital management companies. Many of these companies had their beginnings in the late 1960s. One such company is Hospital Affiliates International, formed in 1967 and now providing management to approximately 150 hospitals. About 50 of these facilities are owned by Hospital Affiliates, and 100 are managed for other, primarily community, nonprofit and governmental organizations. Development of investor-owned management companies has progressed to the extent that as of September 30, 1979 they provided management to approximately 330 hospitals in the United States and in foreign countries.
Melnykova Kateryna V.
Full Text Available The article offers a methodical approach to financial stimulation of logistics managers, which allows calculation of the incentive amount with consideration of profit obtained from introduction of optimisation logistics solutions. The author generalises measures, which would allow increase of stimulation of labour of logistics managers by the enterprise top managers. The article marks out motivation factors, which exert influence upon relation of logistics managers to execution of optimisation logistical solutions, which minimise logistical costs. The author builds a scale of financial encouragement for introduction of optimisation logistical solutions proposed by logistics managers. This scale is basic for functioning of the encouragement system and influences the increase of efficiency of logistics managers operation and also optimisation of enterprise logistical solutions.
Yidong, Xu; Ping, Wu; Jian, Chen; Jiansheng, Shen
In view of the shortcomings of the current civil engineering management discipline, this paper investigates the necessity of the course design reform. Based on the analysis of basic occupation requirements of civil engineering management discipline, the basic ideas and implementation strategies of the integrated reform of curriculum design system are proposed, which can not only improve the students’ overall understanding of knowledge and skills, but also enhance the system of student learning.
Cheng-Ru Wu; Chin-Tsai Lin; Pei-Hsuan Tsai
Problem Statement: There are four main banking business sectors in Taiwan, involving the areas of consumer, corporate, wealth management, and investment banking. The wealth management banking sector is actively promoted for reaping a risk-free premium. In the proposed model, the dimensions of financial services for wealth management banks have been taken from four perspectives derived from balanced scorecard approach, viz. finance, customer, internal business, learning and growth. Approach: T...
Full Text Available In this article authors provide an overview of national strategies that directly or indirectlyconsider the management of financial stability. The actuality of this research topic is based on severalfactors. Firstly, the depth of the global financial crisis that started in 2007 has shown that financialstability must be ensured and monitored by competent authorities. Secondly, the situation of the nationaleconomy has been worsened since 2015, as a result of massive dilapidation of funds and serious violationswith regard to preserving the systemic financial stability of the Republic of Moldova. Under the presentstate the issue of ensuring financial stability becomes more significant and important. The purpose of theresearch is to analyze and synthesize national strategies which reflect the management of financialstability and to detect the existing gaps. The scientific methods used are the following: systemic approach,analysis and synthesis, induction and deduction, logical analysis, critical analysis, etc. The research hasfound that the policy of preserving the systemic financial stability is missing from the current nationalstrategies, and there is a huge gap with regard to banking supervision and the objective of ensuringsystemic financial stability.
Caplan, Mary Ager
Mental health consumers depend on social benefits in the forms of supplemental security income and social security disability insurance for their livelihood. Although these programs pay meager benefits, little research has been undertaken into how this population makes ends meet. Using a qualitative approach, this study asks what are the financial coping strategies of mental health consumers? Seven approaches were identified: subsidies, cost-effective shopping, budgeting, prioritizing, technology, debt management, and saving money. Results illustrate the resourcefulness of mental health consumers in managing meager social benefits and highlight the need to strengthen community mental health efforts with financial capabilities education.
Full Text Available After many reforms of the Polish health care system, the current entity responsible for financing medical services to the insured patients is the National Health Fund. Despite the constantly increasing funds being allocated to the health care system, it still remains underfunded. A tool that facilitates the evaluation and assessment of the viability, stability and profitability of a business is called the financial analysis. The primary source of data necessary for the preparation of the financial analysis comes from the financial statement which includes the balance sheets, profit and loss account, notes, cash flow statement, and statement of changes in equity. On the basis of the information contained in these documents one can understand the structure of assets, earnings, revenues and expenses, as well as the level of indebtedness and liquidity. The National Health Fund has a monopoly on the health insurance market. Therefore, the financial management conducted by this entity should be based on the rationalization of the expenditure in terms of revenue and stable income generation. The financial analysis carried out between 2005 and 2011 showed that the total assets of the entity were dominated by the current assets which can be justified by the nature of the business. The structure of equity relative compared to the foreign capital did not show positive trends. Since 2009, the bad financial situation was manifested by the profit and loss accounts, which reached negative values and costs exceeding the revenue. The ratio analysis showed a high debt rates experienced by the health care payers. At the same time, however, the liquidity has been maintained.
De Witt Wijnen, R.; Aarts, V.P. [De Brauw Blackstone Westbroek, Den Haag (Netherlands)
In proceedings running side-by-side to the legislative initiative (the Bill) aimed at forced unbundling of energy network companies on the one hand and commercial energy companies on the other, the Dutch office for energy regulation (DTe) adopted the so-called Enforcement Plan on the financing of energy group companies (the Plan). The Plan obtained the approval of the Dutch Minister of Economic Affairs shortly after and implements at policy level existing legal provisions aimed at preventing cross-subsidization from and providing competitive advantages by network managers to commercial group companies as well as at banning the use of the networks or income derived therefrom as security other than for the benefit of network management. In the Bill provisions are proposed which expand the prohibitions of the existing legal provisions even further. The authors discuss the legal status of the Plan as well as the various financial regulations set forth in the Plan. They question whether the Plan really is an enforcement plan as specifically provided for in the Electricity Act 1998 and the Natural Gas Act. They conclude that for the largest part the Plan contains material norms (which they discuss in some detail). Arguably, some of these not only interpret the current legal provisions but effectively implement these provisions beyond the limits of current legislation and without the required power of delegation provided by law. The authors venture that for these reasons, in the case occurring, some elements of the Plan may turn out to be unenforceable and that a judicial review of other elements may turn out to be less marginal than could otherwise be expected where policy decisions are being contested. The Bill would seem to provide the opportunity to (partially) remedy the lack of a sufficient legal basis of some of the elements of the Plan. The expanded provisions in the Bill on financial management by network operators provide for implementing rules to be adopted in
... Financial and Program Management § 1210.20 Purpose of financial and program management. Sections 1210.21 through 1210.28 prescribe standards for financial management systems, methods for making payments and... 36 Parks, Forests, and Public Property 3 2010-07-01 2010-07-01 false Purpose of financial and...
... 25 Indians 1 2010-04-01 2010-04-01 false Financial management, internal and external controls and....46 Financial management, internal and external controls and other assurances. Grantee financial... required by the grantee's financial management system. The Secretary or his/her designee may review the...
... 10 Energy 4 2010-01-01 2010-01-01 false Financial management standards for nonprofit participants... Financial Matters § 603.620 Financial management standards for nonprofit participants. So as not to force... organization, expenditure-based TIA requirements for the financial management system of any nonprofit...
... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Standards for financial... violation of the restrictions and prohibitions of applicable statutes. (b) The financial management systems... the financial management system of any applicant for financial assistance as part of a preaward review...
The purpose of this book is to evaluate the debate on partnership, using original research data. Samuel provides a novel categorisation with which to synthesise and clarify a highly diverse literature on labour-management partnership, thus helping to refine the contemporary partnership debate. Secondly, he clarifies the circumstances under which 'effective' labour-management partnership is possible, while simultaneously elaborating why the achievement of 'mutual gains' is highly improbable in a liberal-market context. Thirdly, the book presents an integrated analysis of the interplay between macro-, meso- (industry) and micro-level factors. Fourthly, the research design enables the study to go beyond the case studies to make defendable empirical generalizations at the level of the industry. Finally, it advances a theoretical explanation of labour-management partnerships in 'liberal market' economies by bridging two opposing neo-institutional positions in the social sciences.
Engagement of the financial sector in the climate change debate is apparent, with social investors and advocacy groups launching 32 climate change related shareholder resolutions with American and Canadian energy companies in 2003. Eos Research and Consulting Ltd. recently conducted a study to examine emerging standards for how energy companies manage climate change related risks. A survey was conducted in the first part of the study to determine the environmental awareness of energy companies. Financial firms were asked whether they sought information concerning GHG inventories; projections of future emissions; action plans for addressing climate change and energy efficiency; evaluation of relative risk; estimation of cost of carbon; assessment of financial impact; evaluation of future regulations; and emissions trading activity. The second part of the study compared the response of 11 leading energy companies. The result was 2 opposing views on how climate change risks should be managed. The survey revealed that while most mainstream financial institutions are not paying much attention to climate change issues, socially responsible investment (SRI) investors are aware and working to factor climate change risk management information into their activities. In addition, SRI is growing at a faster pace than other investment segments, which may lead to greater future expectations for energy companies' climate change risk management efforts. It was concluded that the financial sector may emerge as an important source of direction that will guide energy companies in their future efforts to manage climate change risks. The five trends that contribute to the sector's emerging role are the continuing influence of advocacy groups; evolution of socially responsible approaches to investment; growing concerns for reputation; development of financial risk assessment approaches in terms of climate change; and, increase focus on corporate governance issues. 15 refs., 2 tabs., 1
Full Text Available European integration is not just a goal of the foreign policy of the Republic of Moldova, but also a natural aspiration of an European nation to join the European family and the signing of the Association Agreement between Moldova and the European Union is an important step in achieving this goal. The Republic of Moldova has developed and continues to promote rigorous reforms in the area of public finance management. In this article we have analyzed the main reforms and achievements in the field of public finance management in the Republic of Moldova, their importance by reference to good European practices, but also the need to continue them in the context of signing the Association Agreement. The authors argue that until now, the public finance management reform had been focused mainly on the planning and execution phases of National Public Budget, nonetheless the main problems lay in poor budgetary reporting and control. Corruption and fraud are the main risk areas for all the promoted reforms. The conclusion of this paper is that the most urgent actions that should be undertaken consist in improving public procurement procedures, enhancing the internal control, financial inspection and external audit. Only in such a way trustful relation with EU could be created and this is particularly important as it could permit to absorb more European funds to invest in the economic and social development in our country.
Berest Maryna M.
Full Text Available The goal of the article lies in specification and deepening of the essence and theoretical grounds of the enterprise anti-crisis financial management (EAFM. The article analyses and generalises literature, devoted to anti-crisis management problems, marks out and characterises main structural elements of the enterprise anti-crisis financial management: goal, task, object and subject. It shows that tasks of the enterprise anti-crisis financial management should show its essence in the context of preventive, stabilising and anti-crisis components. The article groups and clarifies the concept of functions and principles of the enterprise anti-crisis financial management. It marks basic, specific and integration functions and provides their description. It also marks out and characterises individual principles, which identify the EAFM process, justify development and realisation of anti-crisis solutions and measures and also characterise EAFM organisation at an enterprise. Prospects of further developments in this direction are overview, analysis and improvement of methodical instruments of realisation of the specified EAFM tasks on the basis of the considered theoretical aspects.
Hotchkiss, D R; Jacobalis, S
The ramifications of the current economic crisis are being felt throughout Asia, but problems are particularly acute in Indonesia; in the midst of high inflation and unemployment the government is considering expanding managed care reform. In this paper, we discuss the impact of the recent economic crisis on the health sector in Indonesia, and analyze the potential for implementing effective reform following the managed care model. The health sector is discussed, highlighting pre-existing problems in the health care supply environment. The determinants of the economic crisis are summarized, and the broad impacts of the crisis to date on the health sector are assessed. Next the prospects for success of current managed-care reform proposals are examined in some detail: viability of expanded managed care reform measures are assessed in light of the continuing crisis and its likely impacts on the consumers and suppliers of health care. Analysis of the potential impact of the continuing crisis focuses on key participants in health care reform: households, the government, and private health care providers. In conclusion the potential viability of managed care appears poor, given the current economic, political, and institutional conditions and likely future impacts, and suggest some alternative reform measures.
Strong, Dexter K.
A school budget is a carefully drawn plan to allow for the efficient educational operation of the school. Everyone connected with the management of an independent school has something to learn about a budget, the most obvious person being the new headmaster. Similarly, all department heads, the librarian, the athletic director, the members of the…
Saylor, Joan Nesenkar
Basic components of a New Jersey district's profitable cash management program include consolidating funds using a negotiated bank agreement, a short term investment policy, accurate flowcharts for precise planning, and revenue and expenditure analysis. Data collection and analysis and the alternative of using a bank service agreement are…
Full Text Available The international financial market is extremely volatile because of the influence of anumerous objective and subjective factors. Because of these, în their fight for maximizing the profit, the creditinstitutes confronts permanently with all sort of risks.It is important to know that the risk is generated by a numerous operations and procedures. From thesecause, at least în the financial field, the risk must be considered as a complex of risks, în the sense that they canhave common causes, and producing a risk can generate a chain reaction, and producing other risks. As aconsequence, these operations and procedures can permanently generate an exposure to the risk.The risk management is the key function of the financial institution, which act on the internationalfinancial market. For doing this, it must be used some important instruments that can conduce to avoiding risksor dimensioning them.
Providing financial incentives to commuters to use alternative modes is a common element of managing transportation demand. Although these incentives have become common during the past two decades as elements of transportation demand management (TDM)...
Degryse, H.A.; Lambert, T.; Schwienbacher, A.
Abstract: Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the
This paper focuses on two cases of transnational financial governance that confirm that ideas and material interests are closely aligned in the construction of regulatory institutions at the international level: the Basel-II/III international capital adequacy standards and the IOSCO-based regulatory
Noel, Michel; Kantur, Zeynep; Prigozhina, Angela; Rutledge, Sue; Fursova, Olena
The prospect of European integration presents huge opportunities and challenges for the development of non-bank financial institutions (NBFIs) in Ukraine. By most measures, the development of the NBFI sector in Ukraine lags far behind that of recent accession countries in Central Europe. To address the main impediments facing the development of the sector, the Ukrainian authorities need to...
Full Text Available Recognizing the asset value dynamics volatility of the financial institutions and the importance of its recognition both for financial reporting purposes and risk management effect, this paper aims to provide a practical model for the assets and financial institutions evaluation especially banks. It also aims to present a model to measure the value of banking assets for the purposes of risk management as an opportunity to identify in an early moment the banking risks. The paper develops the bank assets assessment forms and the basis of mathematical modeling of this assessment in general. He identifies also the evaluation factors as for example time to maturity, interest rate market for the assets (YTM, the interest rate agreed, the early repayment of the loan, interest ceilings and floors, off-balance sheet treatment, etc..
Net-energy metering (NEM) with volumetric retail electricity pricing has enabled rapid proliferation of distributed photovoltaics (DPV) in the United States. However, this transformation is raising concerns about the potential for higher electricity rates and cost-shifting to non-solar customers, reduced utility shareholder profitability, reduced utility earnings opportunities, and inefficient resource allocation. Although DPV deployment in most utility territories remains too low to produce significant impacts, these concerns have motivated real and proposed reforms to utility regulatory and business models, with profound implications for future DPV deployment. This report explores the challenges and opportunities associated with such reforms in the context of the U.S. Department of Energy’s SunShot Initiative. As such, the report focuses on a subset of a broader range of reforms underway in the electric utility sector. Drawing on original analysis and existing literature, we analyze the significance of DPV’s financial impacts on utilities and non-solar ratepayers under current NEM rules and rate designs, the projected effects of proposed NEM and rate reforms on DPV deployment, and alternative reforms that could address utility and ratepayer concerns while supporting continued DPV growth. We categorize reforms into one or more of four conceptual strategies. Understanding how specific reforms map onto these general strategies can help decision makers identify and prioritize options for addressing specific DPV concerns that balance stakeholder interests.
Douven, Rudy; Katona, Katalin; T Schut, Frederik; Shestalova, Victoria
In this paper we estimate health plan price elasticities and financial switching gains for consumers over a 20-year period in which managed competition was introduced in the Dutch health insurance market. The period is characterized by a major health insurance reform in 2006 to provide health insurers with more incentives and tools to compete, and to provide consumers with a more differentiated choice of products. Prior to the reform, in the period 1995-2005, we find a low number of switchers, between 2 and 4% a year, modest average total switching gains of 2 million euros per year and short-term health plan price elasticities ranging from -0.1 to -0.4. The major reform in 2006 resulted in an all-time high switching rate of 18%, total switching gains of 130 million euros, and a high short-term price elasticity of -5.7. During 2007-2015 switching rates returned to lower levels, between 4 and 8% per year, with total switching gains in the order of 40 million euros per year on average. Total switching gains could have been 10 times higher if all consumers had switched to one of the cheapest plans. We find short-term price elasticities ranging between -0.9 and -2.2. Our estimations suggest substantial consumer inertia throughout the entire period, as we find degrees of choice persistence ranging from about 0.8 to 0.9.
The establishment of Shanghai Pilot Free Trade Zone provides many possibilities for China’s economic construction. This paper made a comparative analysis on investment management system of Shanghai Pilot Free Trade Zone and traditional investment management system,discussed achievements and problems of reform of investment management system of Shanghai Pilot Free Trade Zone,and finally came up with pertinent policy recommendations.
... Administration: Continuation of FHA Reform; Strengthening Risk Management Through Responsible FHA-Approved...) that are designed to strengthen FHA by improving its management of risk. This final rule increases the... designed to enhance FHA's risk management functions. The announcement preceded completion of an independent...
Travers, E M
Cost accounting is the most basic element of the laboratory's financial management structure. Historically, cost accounting in the nonmedical world referred to accumulating and assigning costs to units of production and departments, primarily for inventory valuation and income determination. In the health industry, microcost accounting is distinguishable from macrocost (management/internal) accounting and serves multiple purposes. Microcost accounting pertains to gathering and providing information for decision making. The range of decisions include managing recurring operations, making nonrecurring strategic decisions, and formulating major organizational policies. Macrocost accounting fulfills the legal requirements of reporting to stockholders, auditors, governmental agencies, and other external parties.
... housing program participants to submit financial data electronically, using generally accepted accounting principles, in a prescribed format. HUD collects the financial information from participants to evaluate the... Information Collection: Comment Request; Multifamily Financial Management Template AGENCY: Office of the...
... Information: Electronic Transfer Account (ETA) Financial Agency Agreement AGENCY: Financial Management Service... of information described below: Title: Electronic Transfer Account (ETA) Financial Agency Agreement... public and other Federal agencies to take this opportunity to comment on a continuing information...
Campello, M.; Giambona, E.; Graham, J.R.; Harvey, C.R.
This article uses a unique dataset to study how firms managed liquidity during the 2008- 2009 financial crisis. Our analysis provides new insights on interactions between internal liquidity, external funds, and real corporate decisions, such as investment and employment. We first describe how
Brott, Pamelia E.
Business, management, and financial occupations are found in organizations in which individuals direct activities and perform tasks related to business and finance. The career cluster includes 144 occupational titles across 57% of the 23 major Standard Occupational Classification groups, with almost half of the occupations considered "bright…
... GOVERNMENT ACCOUNTABILITY OFFICE Financial Management and Assurance; Government Auditing Standards Correction In notice document 2010-23374 beginning on page 57274 in the issue of Monday, September 20, 2010 make the following corrections: 1. On page 57275, in the first column, under the ADDRESSES section, in...
Full Text Available Any sports club organization is main tool for achieving his goals. If club’s basic goal – to achieve standard business performances (work characteristics and business – mark of efficiency his organization or his organizational diagnostics, demands maintenance on economic (finance analysis. In this research, with assisted program FINMEN set an example of financial management analysis in sports organizations
K. B. Dobrova
Full Text Available Issues related to creation of tools making it possible to efficiently control financial and economic production capability of industrial corporations making part of Russian military-industrial complex are discussed on example of an aviation enterprise. A system of balanced indicators is proposed to be used to develop corporation’s adaptive management strategies.
Boles, K E; Glenn, J K
As PPS and other fixed-price initiatives replace cost-based reimbursement in the hospital industry, the burden of assuming the risk for business success or failure shifts from the payor to the hospital. As a consequence, theories of risk to the business firm which have found application in other industries now deserve attention by hospital management. Incorporating such risk concepts into hospital strategies and actions requires a view of financial management that goes beyond the generally accepted accounting principles of managing and assigning costs for maximum revenue and profitability. This article examines the financial theory of risk in business firms, illustrates the various components of risk as they apply to a hospital business, and discusses how the hospital management strategies of cost-reduction, marketing, diversification, and multiorganizational affiliation can alter the risk characteristics of a hospital business.
Tilse, Cheryl; Wilson, Jill; Setterlund, Deborah; Rosenman, Linda
Increasing longevity and the growing proportion of the aged in the population in most countries have served to focus on the question of how governments and older people can finance living, health, and care options in retirement. Prudent management of income and assets is an increasingly complex and important aspect of aging as assets and expectations of self-financing increase. Although many informal caregivers act as asset managers and/or substitute decision-makers for older people, little attention has been paid to this increasingly important aspect of care. This paper summaries key findings of a broad research program exploring family involvement in the management of older people's assets and the practices that constitute good practice as well as financial mismanagement and abuse. It identifies multi-level and multi-strategy responses needed to address the issues raised by the research and outlines an innovative community demonstration project aimed at improving financial management practices in relation to older people's assets.
Full Text Available The paper presents the assessment of the development of integrated reports overseas and describes the stages of establishment of such a system. The form and structure of corporate reporting is developed, and is differentiated, reflecting the integrated information regarding aspects of financial and non-financial activity: statistical indicators, economical, financial and social, company strategy, future cash flows, the value of human capital, and the stability of the business model. Goals and objectives of corporate reports are determined, which consist in providing reliable information on all company activities in accordance with strategic objectives and management models. The structure of the integrated report takes into consideration the requirements of the management system, of the legislative bodies and other institutions, and is considered the basis for the development of branch reports models. Its structure will depend on the size of the legal-organizational form and the social value of the company in society. The author of the article suggests three approaches to achieving corporate reports in the section of social responsibility indicators; where each company chooses the form of reporting in accordance with the available categories that depend on the size and strategic policy. The suggested integrated reports are instrumental to the observance of the stable development doctrines and will become a tool that, in the near future, will ensure the company an effective interaction with financial markets and the stakeholders of market relations.
Full Text Available The paper presents the assessment of the development of integrated reports overseas and describes the stages of establishment of such a system. The form and structure of corporate reporting is developed, and is differentiated, reflecting the integrated information regarding aspects of financial and non-financial activity: statistical indicators, economical, financial and social, company strategy, future cash flows, the value of human capital, and the stability of the business model. Goals and objectives of corporate reports are determined, which consist in providing reliable information on all company activities in accordance with strategic objectives and management models.The structure of the integrated report takes into consideration the requirements of the management system, of the legislative bodies and other institutions, and is considered the basis for the development of branch reports models. Its structure will depend on the size of the legal-organizational form and the social value of the company in society. The author of the article suggests three approaches to achieving corporate reports in the section of social responsibility indicators; where each company chooses the form of reporting in accordance with the available categories that depend on the size and strategic policy. The suggested integrated reports are instrumental to the observance of the stable development doctrines and will become a tool that, in the near future, will ensure the company an effective interaction with financial markets and the stakeholders of market relations.
Caprio Jr., Gerard; Vittas, Dimitri
Among the lessons financial history offers: Macroeconomic stability - low inflation and sound public finance - is important for creating the right incentives for banks and for facilitating the development of securities markets. High inflation and large fiscal deficits distort economic behavior in favor of short-term speculative projects conducive to sustainable economic development. Central bank independence may contribute to economic stability. One way to increase it is by lengthening the te...
Full Text Available Separation of property is defined as a principle of matrimonial regime such as, «Alimony» (Nafaqe, «Seal» (Mahriyeh and «Quantum Meruit» (Ojrat al-Mesl, in Iranian family law. Matrimonial regime in family law is- beside some other especial factors- mainly dependent on the "separation of property regime". But the result of this regime is not perfect. It seems that these factors are unable to create financial equality between spouses which is the main character of modern family law. In order to improve the financial structure of families and accommodate it with modern family requirements, we should redefine matrimonial regimes, for that to be able to create economic equality between spouses. There fore, it is recommended that the legislature, inspired by experiences of other legal systems, starts to modify the regime of separation and prepare the choice of “community of property” between spouses besides the currently existing financial regime.
Robinson, J C
Medical groups need financial resources yet most retain no earnings and have no reserves. Physician practice management (PPM) companies have recognized the need for investment and the scarcity of indigenous capital in the physician sector and are rushing to fill the void. Resources are being contributed by venture capitalists, bond underwriters, private investors, pharmaceutical manufacturers, health plans, hospital systems, and public equity markets. The potential contribution of PPM firms is to nurture the intellectual capital of leading physician organizations and diffuse it throughout the health care system. The risk is that short-term financial imperatives will impede necessary long-term investments.
... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Financial Management Service G... Management Service 1. In general. This appendix applies to the Financial Management Service. It sets forth... requests for notification and access to records and accountings of disclosures for the Financial Management...
... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Standards for financial... Management § 105-72.301 Standards for financial management systems. (a) Federal awarding agencies shall... practical. (b) Recipients' financial management systems shall provide for the following. (1) Accurate...
... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Purpose of financial and.../Financial and Program Management § 105-72.300 Purpose of financial and program management. Sections 105-72... Property Management Regulations System (Continued) GENERAL SERVICES ADMINISTRATION Regional Offices-General...
... 10 Energy 4 2010-01-01 2010-01-01 false Purpose of financial and program management. 600.120 Section 600.120 Energy DEPARTMENT OF ENERGY (CONTINUED) ASSISTANCE REGULATIONS FINANCIAL ASSISTANCE RULES... financial and program management. Sections 600.121 through 600.128 prescribe standards for financial...
Pa Nhia D. Yang
Full Text Available This study examined family financial management in the Hmong community through the analysis of 11 in-depth interviews with Hmong professionals who worked in the area of finance. The findings revealed that as the Hmong made the transition from an agricultural economy in Laos to the complex economic system in the United States, they have learned to adapt to their environment. First generation immigrants continue to live fairly simple lifestyles and havemaintained their strong value of saving money. The 1.5 generation integrates the Hmong value of saving with their knowledge about the U.S. financial system, resulting in savvy financial investments. The 2nd generation, born and raised in the U.S., has been primarily influenced by the U.S. consumer culture, resulting in perceiving wants as needs. Thus spending is a higher priority than saving.
Damnjanović Radovan M.
Full Text Available Investment decisions, which influence the investment of financial resources to achieve economic, non-economic, or of both objectives and effects in the future, the central subject of financial management. Using the methods of financial mathematics can predict the effects of the investment which is from the standpoint of efficiency ratings are expressed in the form of cash future income. Periods, the investments and the use of investment, may be the same or different lengths. From an economic standpoint it is desirable that the period of the investment is short, and the economic effects of the eyelids investments as long as possible. For an investment is said to be cost-effective or cost-effective if the current value of the investment is less than the present value of income from investments.
Noh, Wonjung; Lim, Ji Young
The purpose of this study was to identify the financial management educational needs of nurses in order to development an educational program to strengthen their financial management competencies. Data were collected from two focus groups using the nominal group technique. The study consisted of three steps: a literature review, focus group discussion using the nominal group technique, and data synthesis. After analyzing the results, nine key components were selected: corporate management and accounting, introduction to financial management in hospitals, basic structure of accounting, basics of hospital accounting, basics of financial statements, understanding the accounts of financial statements, advanced analysis of financial statements, application of financial management, and capital financing of hospitals. The present findings can be used to develop a financial management education program to strengthen the financial management competencies of nurses. Copyright © 2015. Published by Elsevier B.V.
Danzi, J T; Boom, M L
Academic medical centers (i.e., teaching hospitals) and academic medical practices are under pressure to control costs to compete with for-profit health care institutions. The authors explain how academic physician managers who want to control costs wisely must first understand the cost structure of the medical center or practice and compare that structure with those of for-profit institutions. Doing this requires a firm understanding of how to use a valuable tool, financial statement analysis, to assess an institution's health and performance. Such analysis consists of calculating a variety of financial ratios (e.g., operating income divided by revenues; net income divided by total assets) and then comparing them with the corresponding ratios that are considered industry norms. Three types of financial statements (defined in detail) lend themselves to this approach: the balance sheet, income statement, and statement of cash flows. The authors define standard financial ratios, point out their uses and limitations, and emphasize that a ratio's meaning derives from comparing it with the corresponding benchmark ratio in the industry as a whole. Ratios should be used not as the end point of assessing financial status, but as ways to identify possible problems that require further investigation. Analysis of trends of ratios over time within an institution is a complementary approach. The authors then discuss the use of ratios in three standard types of institutional evaluation: of performance, of liquidity and leverage, and of strategic planning. In addition, they present the financial statement of a fictitious academic medical center as an example of how to use ratios for financial statement analysis. The authors emphasize that the key to using the ratios they discuss and hundreds of others is first to decide what question needs answering and then to choose the relevant ratios to provide a basis for finding the answer.
Achmedov Shahmurad, S.
Full Text Available The current social-economic situation in the country is accompanied by a sharp reduction of budgetary allocations, which in turn actualizes the problem of creation of conditions providing sustainable economic development, as well as unconditional fulfillment of state obligations, primarily social. Course on the solution of these tasks is defined in the plan of priority measures for the sustainable development of economy and social stability, signed in January 2015 by the Government of the Russian Federation. The paper notes that in the beginning of the budget cuts period all outputs of the budget reform were aimed at improving the quality of public (municipal finances, at creation the conditions most effective use of state (municipal financial resources. The specific essence of reforms is to move to active methods of management of budget resources and to use new financial instruments that ensure the effectiveness of state (municipal spending. The author emphasizes that the achievement of objectives largely depends on the Federal Treasury. In this regard, the author investigates the process of technology improvement of the Treasury execution of the budget, the scale of which was determined by the program "Modernization of the Treasury system of the Russian Federation" and direction of the Strategic map of the Treasury of Russia for the period 2015-2019. Special attention is paid to the complex events that determine the vector of development of Treasury technologies in order to improve the efficiency of financial resources management.
As the market instability and uncertainty that economic and business environment become more complex than any time before. In real condition, there are significant financial volatility and distress that exist in financial institutions, particularly in those with large debt and commodity price exposures. Therefore risk management in recent decade has been largely required and improved to financial sectors. In this paper, we conduct content analysis through annual reports of four leading banks ...
The special issue fills a gap in literature by providing systematic and comparative analysis of public management reform in five under-investigated countries in the Napoleonic administrative tradition: France, Greece, Italy, Portugal, Spain. It thus provides an important contribution to the widening of the comparative research agenda in public management
...-AI81 Federal Housing Administration: Continuation of FHA Reform-- Strengthening Risk Management Through... Federal Housing Administration (FHA) that are designed to strengthen FHA by improving its management of risk. Although the preamble to the final rule correctly provides that the revised net worth...
Malena Portal Boza
Full Text Available The exhibit features Mexican microenterprises today give evidence of the problems that they face in terms of managing their activities, where the role of economic-financial elements is perceived. Although the issue has been addressed in previous studies the contribution of this study is to evaluate in an integrated manner the level of economic and financial management (GEF in micro and impact on business results. To do an index is constructed from indicators synthetic methodology using the principal components factor analysis, accompanied by linear regression exercises. The results confirm the presence of elements of GEF in micro studied. Moreover, it was found that the extent to which GEF elements are incorporated in its activities, the impact on their business results will be positive. These observations constitute the prelude to the creation of public policies seeking to establish improvement strategies for such companies, besides that fosters future research for analysis but by sectors of economic activity.
Schwabe, G; Baenninger, P
Companies engage in IT-projects in order to gain some benefits; however they complain that those bene-fits are difficult to achieve. On the basis of a survey in the Swiss financial industry this paper comes to the conclusion that due to a fundamental misconception companies reproduce the lack of success in reaping IT benefits: Many companies regard benefit management as an instrument to support project proposals rather than as an instrument to gain optimal benefits. Conse-quently, benefits ma...
Geib, Malte; Reichold, Annette; Kolbe, Lutz; Brenner, Walter
The majority of financial services companies in Germany and Switzerland have, with varying success, conducted customer relationship management (CRM) implementation projects. Nonetheless, the implementation of a specific CRM strategy that is aligned with company profitability and uses integrated information systems for performance measurement as well as for the control of marketing, sales, and service processes has been realized in very few companies.In this paper we present a framework for th...
Full Text Available Many manufacturing companies are facing uncertainties and stiff competition both locally and globally, intensified by increasing needs for sophisticated and high value products from demanding customers. These companies are forced to improve the quality of their supply chain management decisions, products and reduce their manufacturing costs. With today’s volatile and very challenging global market, many manufacturing companies have started to realize the importance of the proper managing of their supply chains. Supply chain management (SCM involves practices such as strategic supplier partnership, customer focus, lean production, postpone concept and technology & innovation. This study investigates the importance of SCM on financial optimization. The study measures production or SCM managers’ perceptions regarding SCM and level of performances in their companies. The paper also specifically investigates whether supply chain performance acts as a mediating variable in the relationship between SCM and financial optimization. These associations were analyzed through statistical methods such as Pearson’s correlation and a regression-based mediated analysis. The findings suggest that SCM has significant correlations with supply chain performance and financial optimization. In addition, the result of the regression-based mediated analysis demonstrates that supply chain performance mediates the linkage between SCM and financial optimization. The findings of the study provide a striking demonstration of the importance of SCM in enhancing the performances of Malaysian manufacturing companies. The result indicates that manufac-turing companies should emphasize greater management support for SCM implementation and a greater degree of attention for production integration and information flow integration in the manufacturing system in order to maximize profit and tzerimize cost.
Full Text Available The Journal of Risk and Financial Management (JRFM is published in full open access by MDPI as of 1 October 2013, when MDPI took over the ownership of the journal. So far, this journal has been published elsewhere in yearly volumes (one issue per yearly volume since 2008, with a total of 25 papers released up to this moment . Starting from 1 January 2014, the journal will be published in quarterly issues.
Katrina B. Dobrova
Full Text Available Purpose: the main purpose of the publication is to examine comprehensively the financial and economic aspects of the strategic management of the industrial cluster by the example of the clusters of the Corporation “Rostec” with the participation of enterprises of the defense industry complex. Methods: the methodology of the research is based on the collection and analysis of initial data and information, the article uses a systematic approach to the study of socio-economic processes and phenomena. The research is based on modern theory of competition, innovation, as well as the modern paradigm of cluster development of the economy. In preparing the study, practical materials from Corporation “Rostec”. Results: the article gives the notion of industrial cluster, outlines the the prospects for using the cluster approach in the implementation of import substitution programs. Industrial clusters are considered as a source of preservation of a unique engineering culture, the revival of the engineering class. The creation of clusters is very promising in the defense industry complex, where clusters are identified as the most important source of diversification of the complex. Separate financial and economic aspects of strategic management industrial cluster are discussed in more detail on the example of cluster initiatives of Corporation “Rosteс”. It is noted that for the development of “Rostec” industrial clusters, it is planned to form centers of key competencies by creating conditions for the development of highly effective cooperative and synergetic relationships among the cluster participants. Formed clusters will be able to demonstrate higher rates of economic growth. In addition, focused funding will allow more efficient distribution of federal budget funds, as well as investor funds, aimed at technological development of cluster participants. To achieve these goals, it was recommended to ensure proper selection of key
... 10 Energy 4 2010-01-01 2010-01-01 false Purpose of financial and program management. 600.310... Requirements § 600.310 Purpose of financial and program management. Sections 600.311 through 600.318 prescribe standards for financial management systems; methods for making payments; and rules for cost sharing and...
... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Purpose of financial and program management... ORGANIZATIONS, AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Financial and Program Management § 435.20 Purpose of financial and program management. Sections 435.21 through 435.28 prescribe standards for...
... and Program Management § 84.20 Purpose of financial and program management. Sections 84.21 through 84.28 prescribe standards for financial management systems, methods for making payments and rules for... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Purpose of financial and program...
..., HOSPITALS AND OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 70.20 Purpose of financial and program management. Sections 70.21 through 70.28 prescribe standards for financial management systems, methods for making payments and rules for: Satisfying cost sharing and...
... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Purpose of financial and program management... Requirements § 1260.120 Purpose of financial and program management. Sections 1260.121 through 1260.128 prescribe standards for financial management systems, methods for making payments and rules for: satisfying...
... 45 Public Welfare 4 2010-10-01 2010-10-01 false Purpose of financial and program management. 2543... OTHER NON-PROFIT ORGANIZATIONS Post-Award Requirements Financial and Program Management § 2543.20 Purpose of financial and program management. Sections 2543.21 through 2543.25 prescribe standards for...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of Information: Direct Deposit Sign-Up Form AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its...
... 32 National Defense 1 2010-07-01 2010-07-01 false What financial management standards do I include... financial management standards do I include for nonprofit participants? So as not to force system changes..., your expenditure-based TIA's requirements for the financial management system of any nonprofit...
... 10 Energy 4 2010-01-01 2010-01-01 false Financial management standards for-profit firms. 603.615... § 603.615 Financial management standards for-profit firms. (a) To avoid causing needless changes in participants' financial management systems, an expenditure-based TIA will make for-profit participants that...
Burger, Robert H.; Kaufman, Paula T.; Atkinson, Amy L.
Financial management skills are necessary for responsible library management. In light of the profession's current emphasis on financial literacy, the authors posed four questions: (1) to what extent are library and information science schools providing courses in financial management for their graduates; (2) what is the quality and quantity of…
... Management Systems, Monitoring, and Reporting § 990.310 Purpose—General policy on financial management, monitoring and reporting. All PHA financial management systems, reporting, and monitoring of program... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Purpose-General policy on financial...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service; Proposed Collection of... Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial... collection. By this notice, the Financial Management Service solicits comments concerning the Form FMS-1133...
... DEPARTMENT OF THE TREASURY Financial Management Service; Privacy Act of 1974, as Amended; System of Records AGENCY: Financial Management Service, Treasury. ACTION: Withdrawal of a Privacy Act Notice... behalf of the Financial Management Service. DATES: December 10, 2010. FOR FURTHER INFORMATION CONTACT...
... financial management systems. 64.12 Section 64.12 Parks, Forests, and Public Property NATIONAL PARK SERVICE... RIGHTS-OF-WAY § 64.12 Standards for grantee financial management systems. The grantees' Financial Management Systems shall meet the minimum standards set forth in OMB Circular A-102, Attachment G. ...
... DEPARTMENT OF THE TREASURY Financial Management Service; Privacy Act of 1974, as Amended; System of Records AGENCY: Financial Management Service, Treasury. ACTION: Notice of proposed new system of records. SUMMARY: In accordance with the Privacy Act of 1974, as amended, the Financial Management Service...
... DEPARTMENT OF THE TREASURY Fiscal Service Financial Management Service Proposed Collection of Information: CMIA Annual Report and Direct Cost Claims AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of...
... Assistants § 700.323 The Assistant Secretary of the Navy (Financial Management). The Assistant Secretary of the Navy (Financial Management) is the Comptroller of the Navy, and is responsible for all matters related to the financial management of the Department of the Navy, including: (a) Budgeting; (b...
... 16 Commercial Practices 2 2010-01-01 2010-01-01 false Office of Financial Management, Planning and... COMMISSION ORGANIZATION AND FUNCTIONS § 1000.19 Office of Financial Management, Planning and Evaluation. The Office of Financial Management, Planning and Evaluation is responsible for developing the Commission's...
DOD FINANCIAL MANAGEMENT Significant Efforts Still Needed for Remediating Audit Readiness Deficiencies Report to...Accountability Office Highlights of GAO-17-85, a report to congressional committees February 2017 DOD FINANCIAL MANAGEMENT Significant Efforts Still...actions to address the IPAs’ recommendations. Office of Management and Budget (OMB) guidance and the Department of Defense’s (DOD) Financial
... Provisions and Clauses 1852.242-73 NASA contractor financial management reporting. As prescribed in 1842.7202, insert the following clause: NASA Contractor Financial Management Reporting (NOV 2004) (a) The Contractor... instructions in NASA Procedures and Guidelines (NPR) 9501.2, NASA Contractor Financial Management Reporting...
Weißenberger, Barbara E.; Angelkort, Hendrik
To provide accounting information for management control purposes, two fundamental options exist: (a) The financial records can be used as a database for management accounting (integrated accounting system design), or (b) the management accounting system used by controllers can be based upon a so-called third set of books besides the financial and tax accounting records. Whereas the latter approach had been typical for firms in German-speaking countries until the 1980s, since then an increasi...
This document presents the financial statements of the ANDRA (the French national agency for the management of radioactive wastes) for the year 2010: final accounts, cash flows, financing table. It also contains the auditor's report on the annual accounts
Full Text Available The paper deals with the calculations of leasing economics, derived from recently valid laws, mainly the income tax law. According to § 19 paragraph 3 letter a of the income tax law /ZDP/, the tax expenses represent a depreciation charge of tangible and intangible properties. The new law about the income tax allowed in precisely determined cases to claim depreciation charge not only to tax-payer, having the proprietorship or the administration right (if it relates to the state, village or the higher regional unit, but also to tax-payers who do not have this right if they count this property, incl. they count their property being rented by the form of financial leasing (§24 paragraph 1 letter. e. ZDP. The lessee by this way has the right the leasing object amortizes; despite he is not its owner. This represents a very advantageous, so-called leasing form of depreciation, when the lessees depreciates the property much earlier than using the balanced or accelerated depreciation.
Henschel, Rene Franz
In managing financial cost of exception to contracting standards, the first step is to put up an intelligent contract standards exception monitoring system The next step is to maintain tailor-made, fair and transparent contracting standards The third step is to eliminate unnecessary information...... and repetitiveness in contracting standards The fourth step is to enable your organization and the customers or suppliers to handle the necessary exceptions themselves Finally you should consider the use of independent contracting standards and elimination of your own standards as a tool in managing the cost...
Najeeb Zada; Ahcene Lahsasna; Muhammad Yusuf Saleem
The recent financial crisis resulted destructive effects on finance industry. Islamic financial industry (IFI) is still naïve and largely untested in the face of a major financial turmoil. Major issues and uncertainties of the insolvency of IFI include the issue of moral hazard, government bailouts, excessive risk taking and deposit insurance. This paper addresses the issue of crisis management in IFI from the perspective of al-Siyasah al-Shar'iyyah and attempts to derive public policy guidel...
The purpose of this paper is the discussion of non-financial performance measures that can be adopted in the management accounting function of business organisations. The study is important because it shows how organisational focus on non-financial measures can substantially enhance profitability, albeit being subject to cost constraints. To begin with, the evolution of management accounting research over the last three decades is resented. The development in the academia is then contra...
Although hospital reforms are being advocated internationally as part of a solution to hospital management problems in developing countries, studies have shown that they do give rise to some challenges. A study was undertaken that used in-depth interviews, focus group discussion and document review to examine hospital reforms. The article examines the effects of reforms on the management of Level II public hospitals in Tanzania and documents the related challenges and lessons Learnt. It is shown that hospital reforms have mixed effects in resource-strained hospitals, and that hospital reform actions may have replaced the bureaucratic inefficiencies associated with hospitals being managed from the central level (MoHSW) with the equally bureaucratic inefficiencies that characterize the management of these hospitals from a supposedly local level, the office of the Regional Administrative Secretary (RAS). Managing hospitals from this level seems to cause many hospital management problems to be left unattended.
Greb, Stefan; Focke, Axel; Hessel, Franz; Wasem, Jürgen
As a result of recent health care reforms sickness funds and health care providers in German social health insurance face increased financial incentives for implementing disease management and integrated care. Sickness funds receive higher payments form the risk adjustment system if they set up certified disease management programmes and induce patients to enrol. If health care providers establish integrated care projects they are able to receive extra-budgetary funding. As a consequence, the number of certified disease management programmes and the number of integrated care contracts is increasing rapidly. However, contracts about disease management programmes between sickness funds and health care providers are highly standardized. The overall share of health care expenses spent on integrated care still is very low. Existing integrated care is mostly initiated by hospitals, is based on only one indication and is not fully integrated. However, opportunity to invest in integrated care may open up innovative processes, which generate considerable productivity gains. What is more, integrated care may serve as gateway for the introduction of more widespread selective contracting.
The establishment of Shanghai Pilot Free Trade Zone provides many possibilities for Chinaâ€™s economic construction. This paper made a comparative analysis on investment management system of Shanghai Pilot Free Trade Zone and traditional investment management system, discussed achievements and problems of reform of investment management system of Shanghai Pilot Free Trade Zone, and finally came up with pertinent policy recommendations.
Pettersen, Inger Johanne
Over the last decade a number of management accounting practices and techniques have appeared to improve the quality and reliability of management accounting information in public sector. The aim of this paper is to gain more insight into the link between management accounting reforms and organizational learning and change in the hospital sector. Especially, the focus is put on the processes of defining, interpreting and sense-making of accounting information in this complex public sector man...
Rikhardsson, Pall; Rohde, Carsten; Christensen, Leif
requirements. Risk management, compliance and internal auditing were relatively mature processes in the Danish banks before the crisis, and the adjustments required to adapt to changed compliance requirements were less extensive. Management controls in general seem to play a critical role in responding......The financial crisis of 2008 hit banks in Iceland and Denmark with different intensity. There was a difference in how management controls changed in response to the crisis. Icelandic banks redefined cultural controls, introducing new values as a “clean break” with the banks’ pre-2008 practices....... They formalised their risk management, compliance and internal auditing practices, and hired more employees to perform these functions. Further, they strengthened and formalised their policies and procedures to ensure consistent practices. The Danish banks adapted their administrative controls to new regulatory...
Full Text Available Throughout the study the financial management presented is divided into three directions, namely financial analysis, financial planning and financial strategy, focusing on increasing the quality of financial management conducted at the economic entity by identifying an easier possible use for a system of alternative decisions in order to increase the profitability. The study also aims to identify new meanings of financial accounting information system in performing the managerial act through alternative decisions, trying to highlight the need to create a management tool generator of variants possible to be adopted with an impact on their application in the economic entity as a whole. Based on qualitative research on the financial management act, it is revealed the importance of the financial management act manifested in the economic entity and also its quality improvement through simulations targeting the management through budget system.
This management report indicates the main operation events in the activity of the ANDRA (the French national Agency for radioactive waste management) during 2008, and of its waste storage centres. It comments the evolution of the various characteristic figures (production, personnel, financial result, certification), and reports the evolution of two projects (the HA-MAVL project for the creation of a storage centre for high- and intermediate-level long-life wastes, and the FA-VL project for the creation of a storage centre for low-level long-life wastes). It reviews ANDRA's industrial activity evolution, that is the operation of several storage centres and the activities related to small waste producers and polluted sites. It comments the level and the evolution of the public subside, briefly describes other activities (national inventory of radioactive materials and wastes, activity at the international level), the financing of future nuclear loads, the action for a sustainable development, the prospective evolution for 2009. In a second part, after the financial statement tables, the report comments these financial results. The different authorities are presented and the official auditor's report concludes this document
Wang, Dong; Chen, Yujing; Xu, Jing
Handling and analyzing to web financial data is becoming a challenge issue in knowledge management and education to accounting practitioners. eXtensible Business Reporting Language (XBRL), which is a type of web financial reporting, describes and recognizes financial items by tagging metadata. The goal is to make it possible for financial reports…
Kryukov, Valery; Moe, Arild.
Gazprom is responsible for over 95% of total Russian natural gas production and is one of the largest companies in the world. As well as being of major importance in the Russian domestic energy balance, it is also the largest gas trader in the world, supplying about half the gas imported into western and east-central Europe. The scale of these external activities means that the terms on which it supplies gas to its customers will have an impact on business beyond the gas industry. This study investigates the roots of the company and analyses its current organisation, management structure and financial flows. The main topics covered are: the Russian gas industry in the Soviet era; the organisational structure of Gazprom after privatisation; pricing policy; the company's financial position; Gazprom in relation to the domestic economy and the outside world. (9 figures; 7 tables). (author)
Granetto, Paul J; Marsh, Patricia A; Harbert, Byron B; Lee, Jeffrey A; Mensch, Samuel R; Hamilton, Jason T; Kissler, William F
Who Should Read This Report and Why? The President of the Naval Postgraduate School, the Naval Postgraduate School Comptroller, and personnel in the Naval Postgraduate School Research Program who are responsible for the management...
Due to the low utilization rate of opening-use, backward management and unreasonable configurations, university sports venue cannot produce some economic benefits, which makes the operating expenses in college stadiums extremely tense. Even sometimes it comes to the precarious situation. Therefore, there should be an operations management reform for college sports venue. Firstly, the article analyzes the current situation of stadium operations management. Secondly, with the actual experience of the authors, this essay discussed on how to strengthen the operation and management of modem college sports venues and reform, which includes the way enhancing the training about modem operational management knowledge of college stadiums, strengthening the diversified operation of college stadiums, highlighting the ＂people-oriented＂ in college sports venue design concepts and vigorously developing the training services about stylistic aspects of youth and, etc.,
Much research has focused on the role and limitations that management accounting techniques have had in the development of New Public Management (NPM) reforms during the past 30 years. However, research of the origin of NPM, the reason for NPM reforms consumed with the role of management accounting...... from a historical perspective is limited. This paper investigates the historical and discursive development of management accounting in health care through general history, organisational and national documents along with academic literature. The framework is informed by the governmentality concept...... described by Miller and O’Leary (1987) and this is used to reflect on developments in the past century including the role of discursive formation and practice. The intention is to explain and put into perspective how the current role of management accounting developed. The aim is to guide future research...
Vis, Barbara; Kersbergen, Kees van; Hylands, Tom
– it does not. Focusing on a selection of advanced welfare states (the UK, the USA, Germany, the Netherlands, Denmark and Sweden), we find that these countries face similar problems and that their initial response to these problems is also similar. The latter is surprising because, theoretically, we would...... expect varying responses across welfare state regime types. Rather than retrenchment, we observe a first phase of emergency capital injections in the banking sector and a second of Keynesian demand management and labour market protection, including the (temporary) expansion of social programmes...
Full Text Available Abstract :Due to their significant role in creation of new jobs, rise in GDP, entrepreneurship and innovation, small and medium-sized enterprises (SMEs are recognized as the the drivers of socio-economic growth, both in developed and developing economies. In Turkey, 99.9 % of all enterprises fall into SME category. Therefore, the significance of SMEs for Turkish economy and society is much higher in Turkey, compared to other emerging and developed countries. Small and medium-sized companies are faced with a number of challenges whereas the problems arising from “poor financial management” are reported as the major causes of business failures in SMEs. Strategic financial management (SFM which is a research area that has attracted the interest of researchers after 2010, is one of the key managerial areas of SMEs, due to its vital role on the survival, growth and performance of SMEs. The purpose of this paper is to analyze the central role of financial management and identify the financial management challenges and practices that influence the organizational performance in Turkish SMEs, from a strategic management perspective. Within the course of this paper, the importance and challenges of SMEs in Turkey are presented in the first section, while the literature on strategic and financial management in SMEs are reviewed in the second part. In the third section, the recent strategic financial management concept, the implications of strategic financial management practices for SMEs in Turkey and the relationships between strategic financial management practices and SME performance, are discussed. Small and medium sized enterprise finance in Turkey is a developing research area, therefore this paper aims to make a significant contribution to the existing literature by analyzing the major challenges at the conduct of financial management in Turkish SMEs and the influence of strategic financial management practices on the performances of small and
Mechler, R.; Hochrainer, S.; Pflug, G.; Linnerooth-Bayer, J.
The public sector plays a major role in reducing the long-term economic repercussions of disasters by repairing damaged infrastructure and providing financial assistance to households and businesses. If critical infrastructure is not repaired in a timely manner, there can be serious effects on the economy and the livelihoods of the population. The repair of public infrastructure, however, can be a significant drain on public budgets especially in developing and transition countries. Developing country governments frequently lack the liquidity, even including international aid and loans, to fully repair damaged critical public infrastructure or provide sufficient support to households and businesses for their recovery. The earthquake in Gujarat, and other recent cases of government post-disaster liquidity crises, have sounded an alarm, prompting financial development organizations, such as the World Bank, among others, to call for greater attention to reducing financial vulnerability and increasing the resilience of the public sector. This talk reports on a model designed to illustrate the tradeoffs and choices a developing country must make in financially managing the economic risks due to natural disasters. Budgetary resources allocated to pre-disaster risk management strategies, such as loss mitigation measures, a catastrophe reserve fund, insurance and contingent credit arrangements for public assets, reduce the probability of financing gaps - the inability of governments to meet their full obligations in providing relief to private victims and restoring public infrastructure - or prevent the deterioration of the ability to undertake additional borrowing without incurring a debt crisis. The model -which is equipped with a graphical interface - can be a helpful tool for building capacity of policy makers for developing and assessing public financing strategies for disaster risk by indicating the respective costs and consequences of financing alternatives.
There are increasing concerns about the educational experiences of Division I student-athletes in big-time college sports. Calls for reform have come from within colleges and universities and beyond. The literature of innovative management offers ideas that can help mitigate the academic and athletic divide and offer new ideas for athletic…
Hangartner, Judith; Svaton, Carla Jana
This article discusses insights from an ethnographic study of local governance practices in the Canton of Bern, Switzerland, under changing policy conditions. Recent reforms introduced and strengthened the position of head teachers, enhanced the responsibility of the municipalities and introduced new quality management procedures in local…
... Parts 4, 30 [Docket ID BIA-2009-0001] RIN 1076-AF07 Indian Trust Management Reform--Implementation of Statutory Changes AGENCY: Bureau of Indian Affairs, Office of the Secretary, Interior. ACTION: Final rule... February 10, 2011, to implement the latest statutory changes to the Indian Land Consolidation Act, as...
Kajs, Lawrence T.
There is a need for educational reform of zero tolerance policies in school disciplinary management procedures. Zero tolerance policies are rigid mandates of predetermined consequences for specific student misconduct. Common sense and fairness are not necessarily served by the application of inflexible disciplinary rules that do not address the…
The real options approach has become a benchmark in real assets evaluation and optimal management problems, especially in liberalised and competitive markets such as the oil and hydrocarbon markets. This paper describes how the same approach can be a useful tool for both risk management decisions and the financial optimisation problem. Refineries are black boxes, which can be used for the transformation of crude oil into more refined hydrocarbon products. These black boxes are characterised by operational flexibilities and constraints, which should be optimally managed in order to maximise the refiner's economic goals. Stochastic dynamic programming represents the right mathematical instrument employed to solve the decision-making problem in such an economic environment. (author)
Mizell, Jason S; Berry, Katherine S; Kimbrough, Mary Katherine; Bentley, Frederick R; Clardy, James A; Turnage, Richard H
A 2005 survey reported 87% of surgery program directors believed practice management training should occur during residency. However, only 8% of program directors believed residents received adequate training in practice management . In addition to the gap in practice financial management knowledge, we recognized the need for training in personal finance among residents. A literature review and needs assessment led to the development of a novel curriculum for surgery residents combining principles of practice management and personal finance. An 18-h curriculum was administered over the 2012 academic year to 28 post graduate year 1-5 surgery residents and faculty. A self-assessment survey was given at the onset and conclusion of the curriculum . Pre-tests and post-tests were given to objectively evaluate each twice monthly session's content. Self-perception of learning, interest, and acquired knowledge were analyzed using the Wilcoxon signed ranks test. Initial self-assessment data revealed high interest in practice management and personal finance principles but a deficiency in knowledge of and exposure to these topics. Throughout the curriculum, interest increased. Residents believed their knowledge of these topics increased after completing the curriculum, and objective data revealed various impacts on knowledge. Although surgery residents receive less exposure to these topics than residents in other specialties, their need to know is no less. We developed, implemented, and evaluated a curriculum that bridged this gap in surgery education. After the curriculum, residents reported an increase in interest, knowledge, and responsible behavior relating to personal and practice financial management. Copyright © 2014 Elsevier Inc. All rights reserved.
S.M. Hammoudeh (Shawkat); M.J. McAleer (Michael)
markdownabstract__Abstract__ Financial risk management is difficult at the best of times, but especially so in the presence of economic uncertainty and financial crises. The purpose of this special issue on “Advances in Financial Risk Management and Economic Policy Uncertainty” is to highlight
Fitzgerald, Sarah; Drake, Julie
Financial management in primary schools has changed in the UK with the introduction of the Schools Financial Value Standard (SFVS). There is increasing delegation of financial responsibility to the management team in the school, increasing the role of the head teacher and the governing body as part of overall responsibility for the strategic…
... standards for financial management systems, methods for making payments, and rules for satisfying cost... 45 Public Welfare 1 2010-10-01 2010-10-01 false Purpose of financial and program management. 74.20... NONPROFIT ORGANIZATIONS, AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Financial and Program...
Spiwak, Rand S.
A study was conducted to identify those variables appearing to affect cash management practices in Florida community colleges, and recommend prescriptive measures concerning these practices. The study methodology included informal discussions with the chief fiscal officers of each Florida community college and appropriate state board staff,…
Costich, Julia F; Honoré, Peggy A; Scutchfield, F Douglas
The work reported here builds on the identification of public health financial management practice competencies by a national expert panel. The next logical step was to provide a validity check for the competencies and identify priority areas for educational programming. We developed a survey for local public health finance officers based on the public health finance competencies and field tested it with a convenience sample of officials. We asked respondents to indicate the importance of each competency area and the need for training to improve performance; we also requested information regarding respondent education, jurisdiction size, and additional comments. Our local agency survey sample drew on the respondent list from the National Association of County and City Health Officials 2005 local health department survey, stratified by agency size and limited to jurisdiction populations of 25,000 to 1,000,000. Identifying appropriate respondents was a major challenge. The survey was fielded electronically, yielding 112 responses from 30 states. The areas identified as most important and needing most additional training were knowledge of budget activities, financial data interpretation and communication, and ability to assess and correct the organization's financial status. The majority of respondents had some postbaccalaureate education. Many provided additional comments and recommendations. Health department finance officers demonstrated a high level of general agreement regarding the importance of finance competencies in public health and the need for training. The findings point to a critical need for additional training opportunities that are accessible, cost-effective, and targeted to individual needs.
The objective of the thesis was to analyse everyday responsibilities of an e-accountant employed in a modern fast-paced industry. The thesis was conducted by reflecting on daily activities for a period of 10 weeks in the form of a work dairy. The diary covers every day task set, experiences as well as performing processes of various financial management tasks. The result of this study provided with a track of personal progress and an opportunity to study different processes and work environme...
Zhang, Sufang; Jiao, Yiqian; Chen, Wenjun
As an approach to manage power demand-side resources, DSM plays an important role in electric power system. Though DSM was introduced into China in the early 1990s, its benefits have been underutilized. Using literature study, interview methods and three data sources, this paper examines the likely impacts of China's on-going power sector reform on its DSM. It finds that the major constraints to DSM in China are the insufficient and improper market-based DSM mechanism, grid companies’ low motivations for DSM due to their traditional business model, the underdeveloped energy service industry, and electricity end-users’ low motivation for DSM. China's on-going power sector reform will change power transmission and distribution pricing and grid companies’ business model and introduce competition into retail-side. Drawing on these findings, it is concluded that the likely impacts of the new reform on DSM are: governments may attach more importance to DSM; grid companies may have more motivations for DSM investment; electricity end-users’ motivations for DSM may be both enhanced and dampened; electricity retailers’ motivations for DSM may be dampened; demand response application may be enhanced, and more DSM business models may be developed. Finally, policy implications are provided. - Highlights: • Mechanism of and constraints to DSM in China are examined. • China’s on-going power sector reform is overviewed. • DSM is likely to be enhanced under China's on-going power sector reform. • Policy implications are provided.
Dong, Yahui; Zhang, Pengwei; Li, Wei
To strengthen the informationization construction of the financial management has great significance to the achievement of business management informationization, and under the network economic environment, it is an important task of the financial management that how to conduct informationization construction of traditional financial management to provide true, reliable and complete financial information system for the business managers. This paper thoroughly researches the problem of financial information orientation management (FIOM) by taking the method of combining theory with practice. This paper puts forward the thinking method of financial information management, makes the new contents of E-finance. At last, this paper rebuilds the system of finance internal control from four aspects such as control of organization and management, system development control and safety control of network system.
We performed this audit in response to the Chief Financial Officers Act of 1990, as amended by the Federal Financial Management Act of 1994, which requires DoD and other Government agencies to prepare...
The Chief Financial Officers Act of 1990, Public Law 101-576, November 15, 1990, as amended by the Federal Financial Management Act of 1994, Public Law 103-356, October 13, 1994, requires the annual...
.... The audit was performed in support of Public Law 101-576, the "Chief Financial Officers Act of 1990," November 15, 1990, as amended by Public Law 103-356, the "Federal Financial Management Act...
... participants to submit financial data electronically, using generally accepted accounting principles, in a..., using generally accepted accounting principles, in a prescribed format. Electronic submissions of this... Proposed Information Collection to OMB; Multifamily Financial Management Template AGENCY: Office of the...
Bagorogoza, J.; de Waal, A.; van den Herik, H.J.; van de Walle, B.A.
Purpose: The purpose of the study is to examine the knowledge management practices of financial institutions in Uganda, in order to understand how these practices influence the high performance organisation factors and thereby the performance of the financial institutions.
.... Furthermore, accurate financial data are needed for measuring performance under GPRA. One key factor in agencies being able to achieve these objectives will be having trained and experienced financial management staff in key positions...
EPA's existing chemicals programs address pollution prevention, risk assessment, hazard and exposure assessment and/or characterization, and risk management for chemicals substances in commercial use.
Intaranongpai, Siranee; Hughes, David; Leethongdee, Songkramchai
This paper examines the implementation of Thailand's universal coverage healthcare reforms in a rural province, using data from field studies undertaken in 2003-2005 and 2008-2011. We focus on the strand of policy that aimed to develop primary care by allocating funds to contracting units for primary care (CUPs) responsible for managing local service networks. The two studies document a striking change in the balance of power in the local healthcare system over the 8-year period. Initially, the newly formed CUPs gained influence as 'power followed the money', and the provincial health offices (PHOs), which had commanded the service units, were left with a weaker co-ordination role. However, the situation changed as a new insurance purchaser, the National Health Security Office, took financial control and established regional outposts. National Health Security Office outposts worked with PHOs to develop rationalised management tools-strategic plans, targets, KPIs and benchmarking-that installed the PHOs as performance managers of local healthcare systems. New lines of accountability and changed budgetary systems reduced the power of the CUPs to control resource allocation and patterns of services within CUP networks. Whereas some CUPs fought to retain limited autonomy, the PHO has been able to regain much of its former control. We suggest that implementation theory needs to take a long view to capture the complexity of a major reform initiative and argue for an analysis that recognises the key role of policy networks and advocacy coalitions that span national and local levels and realign over time. Copyright © 2012 John Wiley & Sons, Ltd.
Full Text Available The economic crisis presented unprecedented challenges to nonprofit organizations to sustain their services. In this study, we examined both financial and management factors that influence the financial performance of nonprofit organizations during times of economic stress. In particular, we investigated whether strategic planning and plan implementation, revenue diversification, and board involvement help nonprofit organizations deal with financial uncertainty and strengthen financial performance. Despite the negative impacts that the economic downturn had on nonprofit organizations, we found that the implementation of strategic plans can help nonprofit organizations reduce financial vulnerability. Our findings call attention to key management factors that influence the financial performance of nonprofit organizations.
Full Text Available Contractors must carefully manage their cash outflows (e.g., for materials to enable their work and inflows (after the work to be profitable, particularly in an economy that is still recovering from the 2008-2012 recession that grew out of the mortgage crisis. Their importance for business success is undisputed, as bankruptcies due to insufficient cash flow underline. Therefore, this study investigated current business practices of electrical contracting companies of different sizes with respect to their financial planning and management. A detailed questionnaire was developed with best guidelines on survey studies and pilot testing. It was sent to members of the National Electrical Contractors Association. Respondent anonymity was ensured. The survey recorded demographics, business practices, operating conditions, and other important factors using 57 subquestions. Each section allowed feedback to clarify the numerical responses. Responses were well distributed across company sizes, so that the results are representative for the entire industry. The results indicated that contractors generally have a substantial amount of experience in financial decision making. Their approach is conservative and focuses on healthy growth. Yet, opportunities to fine-tune business practices are identified, e.g., immediate invoicing, considering discounts to accelerate payment receipts, attempting to negotiate and use favorable credit terms, reviewing payment performance, and performing frequent cash flow forecasts. Some of the differences in the responses can be attributed to different company sizes. To help especially smaller companies in planning their cash flow, a spreadsheet for implementation has been created.
Koller, Kathryn; Woods, Lindsay; Engel, Lisa; Bottari, Carolina; Dawson, Deirdre R; Nalder, Emily
This pilot study explored the experiences of brain injury survivors after a change in financial management (FM) independence. Using a qualitative descriptive design, 6 participants with acquired brain injury were recruited from a community brain injury organization and participated in semistructured interviews. Data were analyzed using thematic analysis. Three themes emerged from the interviews: (1) trajectory of FM change, involving family members as key change agents; (2) current FM situation, involving FM strategies such as automatic deposits and restricted budgets; and (3) the struggle for control, in which survivors desired control while also accepting supports for FM. This study identifies some of the challenges brain injury survivors face in managing their finances and the adjustment associated with a loss of FM independence. Occupational therapists should be aware of clients' experiences when supporting them through a change in independence. Copyright © 2016 by the American Occupational Therapy Association, Inc.
Leone, Tiziana; Cetorelli, Valeria; Neal, Sarah; Matthews, Zoë
Evidence on whether removing fees benefits the poorest is patchy and weak. The aim of this paper is to measure the impact of user fee reforms on the probability of giving birth in an institution or undergoing a caesarean section (CS) in Ghana, Burkina Faso, Zambia, Cameroon and Nigeria for the poorest strata of the population. Women's experience of user fees in 5 African countries. Using quasi-experimental regression analysis we tested the impact of user fee reforms on facilities' births and CS differentiated by wealth, education and residence in Burkina Faso and Ghana. Mapping of the literature followed by key informant interviews are used to verify details of reform implementation and to confirm and support our countries' choice. We analysed data from consecutive surveys in 5 countries: 2 case countries that experienced reforms (Ghana and Burkina Faso) by contrast with 3 that did not experience reforms (Zambia, Cameroon, Nigeria). User fee reforms are associated with a significant percentage of the increase in access to facility births (27 percentage points) and to a much lesser extent to CS (0.7 percentage points). Poor (but not the poorest), and non-educated women, and those in rural areas benefitted the most from the reforms. User fees reforms have had a higher impact in Burkina Faso compared with Ghana. Findings show a clear positive impact on access when user fees are removed, but limited evidence for improved availability of CS for those most in need. More women from rural areas and from lower socioeconomic backgrounds give birth in health facilities after fee reform. Speed and quality of implementation might be the key reason behind the differences between the 2 case countries. This calls for more research into the impact of reforms on quality of care. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/
Macinati, Manuela S; Anessi-Pessina, E
Reforms of the public health-care sector have emphasised the role of management accounting (MA). However, there is little systematic evidence on its use and benefits. To fill this gap, we propose a contingency-based model which addresses three related issues, that is, whether: (i) MA use is influenced by contextual variables and MA design; (ii) top-management satisfaction with MA mediates the relationship between MA design and MA use; and (iii) financial performance is influenced by MA use. A questionnaire was mailed out to all Italian public health-care organisations. Structural equation modelling was performed to validate the research hypotheses. The response rate was 49%. Our findings suggest that: (i) cost-containment strategies encourage more sophisticated MA designs; (ii) MA use is directly and indirectly influenced by contingency, organisational, and behavioural variables; (iii) a weakly significant positive relationship exists between MA use and financial performance. These findings are relevant from the viewpoint of both top managers and policymakers. The former must make sure that MA is not only technically advanced, but also properly understood and appreciated by users. The latter need to be aware that MA may improve performance in ways and along dimensions that may not fully translate into better financial results. Copyright © 2014 Elsevier Ireland Ltd. All rights reserved.
The Chief Financial Officers Act of 1990, as amended by the Government Management Reform Act of 1994, requires financial statement audits by the Inspectors General and prescribes the responsibilities...
Laurentiu Mihai Treapat
Full Text Available In this paper, we analyze some features and components of the management in general, and of the management in the financial area in particular. Special attention is given to how they cope with some risk which could affect their activity. Trying to find from practice what kind of difficulties the management faces in their work, for sure, we get to interesting conclusions and furthermore, to optimum solutions. We already have some data, result of some earlier preoccupations of the specialists (Dănilă and Berea, 2000 pp.39-48 while others can be foreseen as specific elements for the beginning of the 3rd millennium, that started with what the rating agencies seem to admit as the most important economic decline and prolonged recession risk within the post World War II history. We consider an evaluation of the challenges the management confronts with, lately - while subject to pressures and to the need for radical changes that come with an astonishing speed and that are enhanced by the shareholders’ desperate need to protect their capital. Findings reveal that, in any business enterprise the shareholders’ strategy and the management’s objectives are earning new clients, enlarging the market share, creating added value and on these bases, maximizing the gained profits. We consider that the volatile and fluctuant nature of the raw material the banks operate with - namely the money – turn the management in this area into a particular one, depicted by some specific features, which we analyze in the following pages.
.... This financial related audit was performed in response to the Chief Financial Officers Act of 1990, as amended, which requires DoD and other Government agencies to produce complete, reliable, timely...
Danijela Miloš Sprčić
Full Text Available The paper analyses financial risk management practices and derivative usage in large Croatian and Slovenian non-financial companies and explores if the decision to use derivatives as risk management instruments in the analysed companies is a function of several firm’s characteristics that have been proven as relevant in making financial risk management decisions. On the basis of the research results it can be concluded that forwards and swaps are by far the most important derivative instruments in both countries. Futures as representatives of standardised derivatives together with structured derivatives are more important in the Slovenian than in the Croatian companies, while exchange-traded and OTC options are unimportant means of financial risk management in both countries. A comparative analysis conducted to explore differences between risk management practices in Slovenian and Croatian companies has shown evidence that Slovenian companies use all types of derivatives, especially structured derivatives, more intensively than Croatian companies. The survey has revealed that the explored hedging rationales have little predictive power in explaining financial risk management decisions both in Croatian and Slovenian companies. The decision to use derivatives in Croatian non-financial companies is related only to the investment expenditures-to-assets ratio which controls for costly external financing hypothesis, while the decision to use derivatives in Slovenian companies is dependent only on the size of the company. It can be argued that the characteristics of the Croatian and Slovenian firms could be found in other South-eastern European countries and that findings of this research may act as a baseline from which to generalise. Therefore, the survey results analysed in this paper also suggest a broader comparison across countries in the region. The advantage of this work is that it provides an impetus for further research to move beyond the
Walker, Richard M.; Boyne, George A.
We present the first empirical assessment of the U.K. Labour government's program of public management reform. This reform program is based on rational planning, devolution and delegation, flexibility and incentives, and enhanced choice. Measures of these variables are tested against external and internal indicators of organizational performance.…
S. Tankha (Sunil); B.W. Fuller (Boyd)
textabstractBased on field investigations of initiatives to increase stakeholder participation in water management in Brazil and India, this paper provides insights into the practice of water sector reforms. Looking at the pace of reforms across both countries, we find that the process of creating
Arredondo, Armando; Duarte, Maria Beatriz; Cuadra, Silvia Magali
This study estimated the epidemiological and financial indicators of hypertension in order to identify challenges in strategic planning and management for health systems in Latin America. This is a longitudinal study with a population base of 187 326 reported cases of older adults with hypertension, diagnosed at public health institutions in Mexico. The cost-evaluation method that was used was based on the instrumentation and consensus techniques. To estimate the epidemiological changes and financial consequences for 2015-2017, time series analyses and probabilistic models were constructed according to the Box-Jenkins technique. Regarding epidemiological changes for 2015 versus 2017, an increase of 8-12% is expected (p financial requirements. The total amount estimated for hypertension in 2015 (in US dollars) was $1 575 671 330. It included $747 527 259 as direct costs and $829 144 071 as indirect costs. If the risk factors and the different healthcare services for older adults remain as they are currently, the financial consequences of epidemiological changes in older adults will have a major impact on the users' pockets, following in order of importance, on social security providers and on public assistance providers. The challenges and implications of our findings in the context of universal coverage reforms in Latin America reinforce the urgent need to develop more and better strategic planning for the prevention of chronic diseases. Copyright © 2016 John Wiley & Sons, Ltd. Copyright © 2016 John Wiley & Sons, Ltd.
Caldwell, T.; Gerlach, R.; Israel, M.; Bobin, S.
CF-6 Norris Cotton Cancer Center (NCCC), an NCI-designated Comprehensive Cancer Center at Dartmouth Medical School, administers 12 Life Sciences Shared Resources. These resources are diverse and offer multiple products and services. Previous methods for tracking resource use, billing, and financial management were time consuming, error prone and lacked appropriate financial management tools. To address these problems, we developed and implemented a web-based application with a built-in authorization system that uses Perl, ModPerl, Apache2, and Oracle as the software infrastructure. The application uses a role-based system to differentiate administrative users with those requesting services and includes many features requested by users and administrators. To begin development, we chose a resource that had an uncomplicated service, a large number of users, and required the use of all of the applications features. The Molecular Biology Core Facility at NCCC fit these requirements and was used as a model for developing and testing the application. After model development, institution wide deployment followed a three-stage process. The first stage was to interview the resource manager and staff to understand day-to-day operations. At the second stage, we generated and tested customized forms defining resource services. During the third stage, we added new resource users and administrators to the system before final deployment. Twelve months after deployment, resource administrators reported that the new system performed well for internal and external billing and tracking resource utilization. Users preferred the application's web-based system for distribution of DNA sequencing and other data. The sample tracking features have enhanced day-to-day resource operations, and an on-line scheduling module for shared instruments has proven a much-needed utility. Principal investigators now are able to restrict user spending to specific accounts and have final approval of the
Alex Augusto Timm Rathke
Full Text Available This study analyzes the level of earnings management in Latin America after the adoption of the International Financial Reporting Standards (IFRS and analyzes the role of cross-listing in the United States. The literature on earnings management in less developed countries is still under construction, and few studies focus on this issue, especially with respect to Latin America, despite its relevant role in the global economy. This paper fills this gap in the literature as it analyzes the level of IFRS earnings management regarding the first and main Latin American countries applying IFRS (Brazil and Chile, when compared to the main Anglo-Saxon countries with IFRS tradition (United Kingdom and Australia, and with the main Continental European economies (France and Germany. The results show that Latin American firms present a higher level of earnings management than Continental European and Anglo-Saxon firms, and this opportunistic behavior remains significant when only global players with cross-listing in the United States are analyzed. Thus, even with a unique set of high quality accounting standards (IFRS and strong reporting incentives, countries’ specific characteristics still play an important role in the way IFRS is implemented in each country.
Goldberg, R J
Psychiatry programs are facing significant business and financial challenges. This paper provides an overview of these management challenges in five areas: departmental, hospital, payment system, general finance, and policy. Psychiatric leaders will require skills in a variety of business management areas to ensure their program success. Many programs will need to develop new compensation models with more of an emphasis on revenue collection and overhead management. Programs which cannot master these areas are likely to go out of business. For academic programs, incentive systems must address not only clinical productivity, but academic and teaching output as well. General hospital programs will need to develop increased sophistication in differential cost accounting in order to be able to advocate for their patients and program in the current management climate. Clinical leaders will need the skills (ranging from actuarial to negotiations) to be at the table with contract development, since those decisions are inseparable from clinical care issues. Strategic planning needs to consider the value of improving integration with primary care, along with the ability to understand the advantages and disadvantages of risk-sharing models. Psychiatry leaders need to define and develop useful reports shared with clinical division leadership to track progress and identify problems and opportunities. Leaders should be responsible for a strategy for developing appropriate information system architecture and infrastructure. Finally, it is hoped that some leaders will emerge who can further our needs to address inequities in mental health fee schedules and parity issues which affect our program viability.
management to what has been the dominant paradigm in recent years, the New Public Management (NPM). “Self-styled” means that they explicitly present themselves as alternatives to NPM and address the shortcomings in NPM to promote alternative conceptualizations. They include Digital-Era Governance, Public......The purpose of this paper is to discuss the three key ideas for an agenda for the public sector that are emerging as dominant ideas in the 2010’s in the literature on public organizations. The paper examines a select number of self-styled conceptual alternatives from the literature on public...... Value Management (PVM), Collaborative Governance, also known to some as the New Public Governance (NPG). The paper takes each of these as broad categories, and proposes that each shelters sub-categories of ideas. DEG: transparency, social media and shared service centers. PVM: strategy...
DoD health care managers should read this report. Military health care data is used for a variety of critical purposes, including managing patient care, determining the optimal health care system, and for financial management...
Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Miller, John [National Renewable Energy Lab. (NREL), Golden, CO (United States); Sigrin, Ben [National Renewable Energy Lab. (NREL), Golden, CO (United States); Reiter, Emerson [National Renewable Energy Lab. (NREL), Golden, CO (United States); Cory, Karlynn [National Renewable Energy Lab. (NREL), Golden, CO (United States); McLaren, Joyce [National Renewable Energy Lab. (NREL), Golden, CO (United States); Seel, Joachim [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Mills, Andrew [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Darghouth, Naim [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Satchwell, Andrew [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)
Net-energy metering (NEM) has helped drive the rapid growth of distributed PV (DPV) but has raised concerns about electricity cost shifts, utility financial losses, and inefficient resource allocation. These concerns have motivated real and proposed reforms to utility regulatory and business models. This report explores the challenges and opportunities associated with such reforms in the context of the U.S. Department of Energy's SunShot Initiative. Most of the reforms to date address NEM concerns by reducing the benefits provided to DPV customers and thus constraining DPV deployment. Eliminating NEM nationwide, by compensating exports of PV electricity at wholesale rather than retail rates, could cut cumulative DPV deployment by 20% in 2050 compared with a continuation of current policies. This would slow the PV cost reductions that arise from larger scale and market certainty. It could also thwart achievement of the SunShot deployment goals even if the initiative's cost targets are achieved. This undesirable prospect is stimulating the development of alternative reform strategies that address concerns about distributed PV compensation without inordinately harming PV economics and growth. These alternatives fall into the categories of facilitating higher-value DPV deployment, broadening customer access to solar, and aligning utility profits and earnings with DPV. Specific strategies include utility ownership and financing of DPV, community solar, distribution network operators, services-driven utilities, performance-based incentives, enhanced utility system planning, pricing structures that incentivize high-value DPV configurations, and decoupling and other ratemaking reforms that reduce regulatory lag. These approaches represent near- and long-term solutions for preserving the legacy of the SunShot Initiative.
Miceski, Trajko; Mihajlova, Marija
While analyzing today’s reality we can notice a lot of financial institutions that make very high profits, but at the same time also a lot of financial institutions that have big deficits. The essential difference between the successful and unsuccessful financial institutions is exactly in the role of the management. Consequently, the meaning and the effect of the management is very important. The management is a generic activity, function and knowledge, specific and appropr...
The objective of the paper is to identify whether the global financial crisis in 2008 re-shaped risk management in the English universities in order to avoid future financial turbulence and manage risk in uncertain and insecure environments. The paper examined changes in the risk management mechanism of the English university system between 2008…
Jones, L. R.
Based in part on interviews conducted in 32 municipalities, this paper is intended to provide information to public managers, policy analysts, and others on methods for improving the management of retrenchment. A model summarizes how public organizations recognize and attempt to manage financial crises and prolonged financial stress. Some cutback…
Roger D. Fight; John T. Chmelik
This report describes strategies for using the Financial Evaluation of Ecosystem Management Activities (FEEMA) software. This program was developed as a tool for assessing the financial viability of management activities for removing small trees for manufacture into wood products. Combinations of tree stands, management activities, and contractual requirements can be...
House, Ernest R.
In 1965, Robert Kennedy initiated federal evaluation policy with ESEA. His conception of political accountability was converted into a system of cost benefit analysis, which periodically justified funding curtailments. This systems approach, similar to Taylor's Scientific Management, is inadequate as the sole evaluation tool for federal programs.…
This paper brings concepts and ideas from around the world about the need for and ways of achieving more responsive and accountable new public management within the framework of democratic governance. The paper adopts a content analysis method through the use of secondary data. The findings of the paper ...
Nicolae Elvis Cioabă
Full Text Available The Superior Council of Magistracy represent a cornerstone of the Romanian court management system. This responsibility is partly shared with the Ministry of Justice. The reform of the court management system in Romania has been and still is disputable, the main actors being on one hand the magistrates and on the other the Ministry of Justice. While observing this „dispute“ we may discover a third actor, namely the European Union, who has entered scene in the context of Romania’s European integration. This research is looking to plausibly explain which was the part played by the EU and how did it influence the above mentioned reform, with special emphasis on the Superior Council of Magistracy.
Yang, Chunhui; Su, Zhixiong; Wang, Xin; Liu, Yang; Qi, Yongwei
The new normalization of the economic situation and the implementation of a new round of electric power system reform put forward higher requirements to the daily operation of power grid companies. As an important day-to-day operation of power grid companies, investment management is directly related to the promotion of the company's operating efficiency and management level. In this context, the establishment of power grid company investment management optimization system will help to improve the level of investment management and control the company, which is of great significance for power gird companies to adapt to market environment changing as soon as possible and meet the policy environment requirements. Therefore, the purpose of this paper is to construct the investment management optimization system of power grid companies, which includes investment management system, investment process control system, investment structure optimization system, and investment project evaluation system and investment management information platform support system.
Eriksen, Krister; Wedøe, Ola
The purpose of this thesis is to investigate how the largest non-financial companies in Norway manage their foreign exchange rate exposure. This is investigated through the use of a survey distributed to a sample the largest non-financial firms in Norway. According to our results, the largest non-financial companies in Norway have a predefined strategy for managing foreign exchange risk, which is defined by the board of directors or by the management in the organisation. The companies’ mai...
with U.S. generally accepted accounting principles and establish and maintain effective internal control over financial reporting and compliance with... Accountability Office Highlights of GAO-16-383, a report to congressional committees May 2016 DOD FINANCIAL MANAGEMENT Greater Visibility... Accounting Standards Advisory Board FIAR Financial Improvement and Audit Readiness IUS internal-use software NDAA National Defense Authorization Act
Dobbelsteen, S; Kooreman, P
This paper analyzes data from the British Household Panel Survey on households' financial management and financial decision-making. Direct subjective information was collected by asking questions like 'Who has the final say in big financial decisions?'. All questions were answered separately by both
DOD's pervasive financial and business management problems adversely affect the economy, efficiency, and effectiveness of its operations, and have resulted in a lack of adequate accountability across...
.... Developing baseline information on Medicaid issues at greatest risk for improper payments and measuring improvements in program management against that baseline is key to achieving effective financial oversight...
.... Specifically, we reviewed financial accounting procedures and related management controls to determine whether the Defense Finance and Accounting Service Denver Center Operating Location can produce...