Have Recent Financial Reforms Improved Financial Accountability in the Australian Commonwealth Public Sector?

Directory of Open Access Journals (Sweden)

Graham Bowrey

2007-09-01

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.

Inclusive Financial System Reforms in Uganda: Unveiling Ambiguity

OpenAIRE

Ayoki, Milton

2014-01-01

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...

Empirical Analysis of the Impact of Financial Sector Reforms on Savings Mobilization in Nigeria

Directory of Open Access Journals (Sweden)

Enobong Udoh

2017-03-01

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.

Financial capital appraisal in the system of industrial enterprise development management

OpenAIRE

Akhtyamov M.K.; Gonchar E.A.

2017-01-01

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...

Reforming Municipal Budgeting and Financial Management in a South American City: A Case Study of Asuncion, Paraguay

Directory of Open Access Journals (Sweden)

Rachel BALLARD

2000-01-01

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.

新时期高校财务管理体制改革研究%Reform of Financial Management System in Universities in the New Era

Institute of Scientific and Technical Information of China (English)

彭宇飞

2014-01-01

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。

DOD Financial Management: Continued Actions Needed to Address Congressional Committee Panel Recommendations

Science.gov (United States)

2015-09-01

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

Impact of Financial Sector Reforms on Domestic Savings ...

African Journals Online (AJOL)

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 ...

Absent alternatives and insider interests in postcrisis financial reform

NARCIS (Netherlands)

Mügge, D.; Stellinga, B.

2010-01-01

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

Financial Reform, Institutional Interdependency, and Supervisory Failure in the Post-Crisis Korea

OpenAIRE

Hong-Bum Kim; Chung Lee

2005-01-01

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...

Two decades of reforms. Appraisal of the financial reforms in the Russian public healthcare sector.

Science.gov (United States)

Gordeev, Vladimir S; Pavlova, Milena; Groot, Wim

2011-10-01

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.

The banking union and the financial and banking system reform in EU

Directory of Open Access Journals (Sweden)

Alina Ligia Dumitrescu

2013-04-01

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.

Financial Sector Regulation and Reforms in Emerging Markets: An Overview

OpenAIRE

Eswar S. Prasad

2010-01-01

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...

Summary of the financial and ratepayer impacts of nuclear power plant regulatory reform

International Nuclear Information System (INIS)

Turpin, A.Y.

1985-05-01

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

Distinctions, Affiliations, and Professional Knowledge in Financial Reform Commissions

DEFF Research Database (Denmark)

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....

Distinctions, Affiliations, and Professional Knowledge in Financial Reform Expert Groups

DEFF Research Database (Denmark)

Seabrooke, Leonard; Tsingou, Eleni

2014-01-01

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....

On the choice of farm management practices after the reform of the Common Agricultural Policy in 2003.

Science.gov (United States)

Schmid, Erwin; Sinabell, Franz

2007-02-01

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.

Transnational Veto Players and the Practice of Financial Reform

DEFF Research Database (Denmark)

Tsingou, Eleni

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...

Transnational Veto Players and the Practice of Financial Reform

DEFF Research Database (Denmark)

Tsingou, Eleni

2015-01-01

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...

Reform Drivers and Reform Obstacles in Natural Resource Management

DEFF Research Database (Denmark)

Gezelius, Stig S.; Raakjær, Jesper; Hegland, Troels Jacob

2010-01-01

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....

Tax management in strengthening financial independence of local government

Directory of Open Access Journals (Sweden)

Badida M.P.

2017-05-01

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.

Financial reforms in the MENA region, a comparative approach: The case of Tunisia, Algeria, morocco and Egypt

Directory of Open Access Journals (Sweden)

Alouani Ahmed

2008-01-01

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.

Strengthening financial management, providing financial safeguard mechanism

International Nuclear Information System (INIS)

Sun Wumei

2010-01-01

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)

Financial capital appraisal in the system of industrial enterprise development management

Directory of Open Access Journals (Sweden)

Akhtyamov M.K.

2017-01-01

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.

Reforming the Financial Assistance Provision in the Second Company Law Directive: A Danish Perspective

DEFF Research Database (Denmark)

Sørensen, Karsten Engsig; Hansen, Søren Friis

2003-01-01

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....

On the Choice of Farm Management Practices after the Reform of the Common Agricultural Policy in 2003

OpenAIRE

Schmid, Erwin; Sinabell, Franz

2004-01-01

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 ...

Bulgaria : Country Financial Accountability Assessment

OpenAIRE

World Bank

2003-01-01

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...

Financial Incentives and Physician Practice Participation in Medicare's Value-Based Reforms.

Science.gov (United States)

Markovitz, Adam A; Ramsay, Patricia P; Shortell, Stephen M; Ryan, Andrew M

2017-07-26

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

Financial Risk Management

OpenAIRE

Catalin-Florinel Stanescu; Laurentiu Mircea Simion

2011-01-01

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.

Application of IPSAS Standards to the Vietnamese Government Accounting and Financial Statements

OpenAIRE

LE , TRANG THI NHA

2012-01-01

The Vietnamese government has implemented a reform of public financial management in a realm of government accounting. The current government accounting regime has met requirements of budget management. However, it provides very little information of financial position and performance. Furthermore, in the context of the increasing international integration and requirements of public sector management reform, the Vietnamese government accounting needs to be improved with applying full accrual ...

Teaching hospital financial status and patient outcomes following ACGME duty hour reform.

Science.gov (United States)

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

2013-04-01

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.

Financial Audit: IRS's Fiscal Years 2001 and 2000 Financial Statements

National Research Council Canada - National Science Library

2002-01-01

...) 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...

Participatory management reforms in irrigation sector of sindh

International Nuclear Information System (INIS)

Lashari, B.K.

2009-01-01

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)

Public Sector Reforms: New Public Management without Marketization?

DEFF Research Database (Denmark)

Löfgren, Karl; Pedersen, John Storm

2012-01-01

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....

Reform Implementation and Educational Management in Vocational Colleges

DEFF Research Database (Denmark)

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...

The financial crisis and recent family policy reforms in Finland, Germany and the United Kingdom : Is there a connection?

Directory of Open Access Journals (Sweden)

Mikael Nygård

2015-03-01

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.

A Study of the State of Budgetary Financial Reporting in Navy Medicine

National Research Council Canada - National Science Library

Smith, Glenn

1998-01-01

.... 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...

Integrating physical and financial approaches to manage environmental financial risk

Science.gov (United States)

Characklis, Gregory; Meyer, Eliot; Foster, Benjamin

2017-04-01

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

Some considerations on the reform of the international monetary and financial system

OpenAIRE

E. GRILLI

1999-01-01

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.

Public health financial management competencies.

Science.gov (United States)

Honoré, Peggy A; Costich, Julia F

2009-01-01

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.

Strategic Planning and Financial Management

Science.gov (United States)

Conneely, James F.

2010-01-01

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…

14 CFR 1260.26 - Financial management.

Science.gov (United States)

2010-01-01

... 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...

REFORMING THE EUROPEAN FINANCIAL AND BANKING ARCHITECTURE IN THE CRISIS CONTEXT. THE BANKING UNION CONCEPT

Directory of Open Access Journals (Sweden)

Magdalena, RADULESCU

2014-11-01

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.

Financial management of construction contractors.

OpenAIRE

Lacaria, Chris J.

1994-01-01

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 ...

Developing Program Management Leadership for Acquisition Reform

Science.gov (United States)

2011-04-30

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

Department of Defense Progress in Financial Management Reform

National Research Council Canada - National Science Library

Steinhoff, Jeffrey

2000-01-01

..., 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...

The application of financial management in enterprise management

Institute of Scientific and Technical Information of China (English)

刘国晴

2017-01-01

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.

7 CFR 634.40 - Financial management.

Science.gov (United States)

2010-01-01

... 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...

Neo-institutional Perspectives on Public Management Reform

NARCIS (Netherlands)

Gestel, N.M. van; Teelken, J.C.

2006-01-01

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

Financial Management and Young Australian Workers

Science.gov (United States)

Dowling, Nicki; Hoiles, Lauren; Corney, Tim; Clark, David

2008-01-01

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…

Financial analysis as a financial management instrument

Directory of Open Access Journals (Sweden)

Stehlíková Beáta

2001-12-01

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 firm’s 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

7 CFR 247.27 - Financial management.

Science.gov (United States)

2010-01-01

... 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...

PENSION FUNDS AND THE FINANCIAL CRISIS IN THE CEE COUNTRIES

Directory of Open Access Journals (Sweden)

Milos Laura Raisa

2012-12-01

Full Text Available In this paper, the authors analyze the influence of the international financial crisis on the current architecture of the CEE pension systems and their further reforms. As a consequence of the financial crisis, the very fragile pension reform has been subject of debate in the new member states of European Union, given their deep recession and registered fiscal deficits. In many of the CEE countries, which have adopted/developed later the second pillar, the financial crisis has raised questions in what concerns the benefit of moving to a mixed pension system, in comparison with the former one, which relied exclusively on public pay-as-you-go schemes. The current literature analyses the situation in each of the CEE countries, but does not make an overall analysis of the situation of the CEE countries, member of the European Union. The authors show the short-term negative effects of the financial crisis on the pension reform in these countries, but also the longer run effects, on the continuing deteriorating finances of these pension systems, in the context of the aging of population and unsustainable pension schemes. Alongside reviewing and commenting the national authorities’ responses to the financial crisis, we are proposing also some measures meant to enhance the further pension system reform and to improve the performance of the private pension funds. Pensions have a long-time horizon and it would be very wrong to produce a reversal of the past reforms since the main problems of adequacy and sustainability remain vivid (demographic challenge and population aging. It is also true though that, while shifting from an exclusively public pay-as-you-go system towards a mixed pension system, especially in times of financial crisis, authorities must pay increased attention to the management and supervision of the DC pension plans, to the risk management standards and regulations of the private pension funds, alongside other measures meant to

Financial Management, Profile of the Air Force Financial Managers

National Research Council Canada - National Science Library

1997-01-01

... 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...

20 CFR 632.32 - Financial management systems.

Science.gov (United States)

2010-04-01

... 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...

A critical assessment of the European approach to financial reforms

Directory of Open Access Journals (Sweden)

Mario Tonveronachi

2011-01-01

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.

RISK MANAGEMENT WITH FINANCIAL DERIVATIVES: EMPIRICAL EVIDENCE FROM ROMANIAN NON-FINANCIAL FIRMS

Directory of Open Access Journals (Sweden)

Sorin Gabriel Anton

2016-12-01

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

The 2000 DOD Financial Management Improvement Plan

National Research Council Canada - National Science Library

2001-01-01

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...

Good governance and budget reform in Lesotho Public Hospitals: performance, root causes and reality.

Science.gov (United States)

Vian, Taryn; Bicknell, William J

2014-09-01

Lesotho has been implementing financial management reforms, including performance-based budgeting (PBB) since 2005 in an effort to increase accountability, transparency and effectiveness in governance, yet little is known about how these efforts are affecting the health sector. Supported by several development partners and $24 million in external resources, the PBB reform is intended to strengthen government capacity to manage aid funds directly and to target assistance to pressing social priorities. This study designed and tested a methodology for measuring implementation progress for PBB reform in the hospital sector in Lesotho. We found that despite some efforts on the national level to promote and support reform implementation, staff at the hospital level were largely unaware of the purpose of the reform and had made almost no progress in transforming institutions and systems to fully realize reform goals. Problems can be traced to a complex reform design, inadequate personnel and capacity to implement, professional boundaries between financial and clinical personnel and weak leadership. The Lesotho reform experience suggests that less complex designs for budget reform, better adapted to the context and realities of health sectors in developing countries, may be needed to improve governance. It also highlights the importance of measuring reform implementation at the sectoral level. Published by Oxford University Press in association with The London School of Hygiene and Tropical Medicine © The Author 2013; all rights reserved.

Perceived affordability of health insurance and medical financial burdens five years in to Massachusetts health reform.

Science.gov (United States)

Zallman, Leah; Nardin, Rachel; Sayah, Assaad; McCormick, Danny

2015-10-29

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.

7 CFR 249.11 - Financial management system.

Science.gov (United States)

2010-01-01

... 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...

7 CFR 248.11 - Financial management system.

Science.gov (United States)

2010-01-01

... 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...

CONSIDERATIONS REGARDING THE REFORM OF THE EUROPEAN FINANCIAL SUPERVISION SYSTEM

Directory of Open Access Journals (Sweden)

Persida Cechin Crista

2012-01-01

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.

Financial Management: An Organic Approach

Science.gov (United States)

Laux, Judy

2013-01-01

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.

Business, Economics, Financial Sciences, and Management

CERN Document Server

2011 International Conference on Business, Economics, and Financial Sciences, Management (BEFM 2011)

2012-01-01

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...

FINANCIAL PERFORMANCE IN CREDIT INSTITUTION MANAGEMENT

Directory of Open Access Journals (Sweden)

IOV DANIELA RODICA

2014-05-01

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.

Integrating Physical Actions and Financial Instruments to Manage Environmental Financial Risk

Science.gov (United States)

Foster, B.

2016-12-01

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

75 FR 22680 - Financial Management Service; Proposed Collection of Information: Annual Financial Statement of...

Science.gov (United States)

2010-04-29

... 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...

The Republic of Uganda : Country Financial Accountability Assessment

OpenAIRE

World Bank

2004-01-01

This Country Financial Accountability Assessment (CFAA) is an update of the assessment done in 2001. It discusses progress made in the area of Public Financial Management (PFM) reforms since then, and provides a status-matrix in Appendix 1 on the implementation of the key recommendations of the 2001 CFAA. following are recommendations noteworthy: streamline the requirements in the budget ...

FINANCIAL MANAGEMENT OF THE COMPANY THROUGH THE CAPITALIZATION OF FINANCIAL-ACCOUNTING INFORMATION

Directory of Open Access Journals (Sweden)

Boby COSTI

2014-06-01

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.

PRIORITIES OF PENSION REFORM IN UKRAINE AT THE PRESENT STAGE

Directory of Open Access Journals (Sweden)

Volodymyr Rudyk

2017-03-01

Full Text Available The issues of reforming the national pension system in modern conditions are considered. Their main elements, level of  their using in the general pension model of the country are analyzed. The financial security of the pension sector, increasing in pension costs, tendencies of increase of  their share relative to GDP for the future were assessed. Comparison of this indicator on the European countries was made. Priorities for pension reform were identified, main directions of reorganization of the solidarity pension system, the necessity of introduction of obligatory accumulative pension insurance were justified, the ways of further development of private pension provision were determined. Special attention was paid to the need to improve the legislative framework, which will be the legal basis for the successful conduction of this stage of the pension reform. Key words: pension reform, pension system, pension system, pension provision, pension system, pension assets, pension programs, financial risks, pension management.

The development vector of the treasury technologies in order to improve the efficiency of financial resources management

Directory of Open Access Journals (Sweden)

Achmedov Shahmurad, S.

2015-09-01

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.

76 FR 23859 - Financial Management Service Proposed Collection of Information; Financial Institution Agreement...

Science.gov (United States)

2011-04-28

... 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...

Public Sector Reform and Governance for Adaptation: Implications of New Public Management for Adaptive Capacity in Mexico and Norway

Science.gov (United States)

Eakin, Hallie; Eriksen, Siri; Eikeland, Per-Ove; Øyen, Cecilie

2011-03-01

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.

7 CFR 3560.630 - Financial management.

Science.gov (United States)

2010-01-01

... 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...

12 CFR 563.161 - Management and financial policies.

Science.gov (United States)

2010-01-01

... 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...

7 CFR 246.13 - Financial management system.

Science.gov (United States)

2010-01-01

... 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...

14 CFR 152.303 - Financial management system.

Science.gov (United States)

2010-01-01

... 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...

42 CFR 441.484 - Financial management services.

Science.gov (United States)

2010-10-01

... 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...

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

National Research Council Canada - National Science Library

Granetto, Paul

2003-01-01

.... 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...

48 CFR 970.3270 - Standard financial management clauses.

Science.gov (United States)

2010-10-01

... 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...

38 CFR 61.66 - Financial management.

Science.gov (United States)

2010-07-01

... 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...

Reform of the global financial architecture: a new social contract between society and finance.

OpenAIRE

Banziger, H.

2009-01-01

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...

The impact of financial crisis on accounting reform with special reference to the situation in the Republic of Serbia

Directory of Open Access Journals (Sweden)

Kikanović Ramiz

2012-01-01

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.

Education management process implementation of reforms

Directory of Open Access Journals (Sweden)

A. V. Kondratyeva

2013-12-01

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.

29 CFR 1960.7 - Financial management.

Science.gov (United States)

2010-07-01

... 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...

Methods of Financial Risk Management

Directory of Open Access Journals (Sweden)

Korzh Natalia

2016-10-01

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.

A SURVEY OF INTERNATIONAL FINANCIAL RISK MANAGEMENT SYSTEM

Directory of Open Access Journals (Sweden)

SETHI Narayan

2013-12-01

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.

FINANCIAL MANAGEMENT OF THE COMPANY THROUGH THE CAPITALIZATION OF FINANCIAL-ACCOUNTING INFORMATION

OpenAIRE

Boby COSTI; Marius BOIŢĂ; Cosmina REMEŞ

2014-01-01

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...

Financial risk management of pharmacy benefits.

Science.gov (United States)

Saikami, D

1997-10-01

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.

48 CFR 970.5232-7 - Financial management system.

Science.gov (United States)

2010-10-01

... 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...

THE INTERFACE BETWEEN FINANCIAL AND MANAGEMENT ACCOUNTING

Directory of Open Access Journals (Sweden)

Elena HLACIUC

2017-12-01

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

Reform of irrigation management and investment policy in African development

Directory of Open Access Journals (Sweden)

KW Easter

2004-11-01

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.

On the nexus of monetary policy and financial stability: Is the financial system more resilient?

OpenAIRE

Mora, Patricia Palhau; Januska, Michael

2016-01-01

Monetary policy and financial stability are closely intertwined, and the resilience of the financial system carries weight in this relationship. This paper explores whether the financial system is more resilient as a result of the G20's post-crisis agenda for financial regulatory reform. It summarizes the agenda's key measures and implementation schedules, both internationally and in Canada, reviews the effectiveness of the reform measures in preventing and addressing financial imbalances, an...

34 CFR 74.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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 CFR 34.11 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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 CFR 145.21 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 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...

7 CFR 3019.21 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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...

2 CFR 215.21 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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...

THEORETICAL SUBSTANTIATION OF FINANCIAL MANAGEMENT

Directory of Open Access Journals (Sweden)

N. V. Myroshnyk

2009-03-01

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.

Strengthening the management of ESA - the Inter-Directorate Reform of Corporate and Risk Management

Science.gov (United States)

Feustel-Büechl, Jörg; Arend, Harald; Derio, Eric; Infante, Giovanni; Kreiner, Gerhard; Phaler, Jesse; Tabbert, Michael

2007-02-01

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.

29 CFR 95.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

45 CFR 74.21 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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...

Integrated Financial Management Program

Science.gov (United States)

Pho, Susan

2004-01-01

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

Under Secretary of Defense (Comptroller) > Financial Management > Reports

Science.gov (United States)

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

30 CFR 725.22 - Financial management.

Science.gov (United States)

2010-07-01

.... 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...

30 CFR 735.25 - Financial management.

Science.gov (United States)

2010-07-01

... 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...

20 CFR 435.21 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 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...

77 FR 20871 - Audit and Financial Management Advisory (AFMAC)

Science.gov (United States)

2012-04-06

... 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...

28 CFR 70.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

Liquidity management through financial planning

OpenAIRE

Kameníková Katarína

2001-01-01

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...

The usage of financial derivatives in financial risk management by non- financial companies in Serbia

Directory of Open Access Journals (Sweden)

Živanović Branko

2017-01-01

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.

29 CFR 1470.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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 CFR 518.21 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 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...

7 CFR 250.15 - Financial management.

Science.gov (United States)

2010-01-01

... 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...

TRANSFERABILITY OF ADMINISTRATIVE REFORMS: NEW PUBLIC MANAGEMENT AS AN EXAMPLE

OpenAIRE

Kapucu, Naim; Kösecik, Muhammet

2002-01-01

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...

Risk Management and Financial Derivatives: An Overview

NARCIS (Netherlands)

S.M. Hammoudeh (Shawkat); M.J. McAleer (Michael)

2012-01-01

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

34 CFR 80.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

20 CFR 437.20 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 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...

10 CFR 600.121 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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 CFR 31.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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 CFR 226.21 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 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...

45 CFR 1183.20 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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 CFR 1260.121 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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...

36 CFR 1207.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

22 CFR 135.20 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 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...

45 CFR 1174.20 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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...

The 2000 DOD Financial Management Improvement Plan

National Research Council Canada - National Science Library

2001-01-01

.... 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...

Microsoft Dynamics GP 2013 financial management

CERN Document Server

Grieve, Ian

2013-01-01

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.

Indonesian heath care and the economic crisis: is managed care the needed reform?

Science.gov (United States)

Hotchkiss, D R; Jacobalis, S

1999-03-01

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.

21 CFR 1403.20 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 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...

The Heart of Economic Reform: China's Banking Reform and State Enterprise Restructuring

National Research Council Canada - National Science Library

Tong, Daochi

1999-01-01

... priority in the reform agenda. This study examines how financial resources are misallocated under the current financial system in China, and the impact of such misallocation of capital on the strength of the banking sector...

Next generation of individual account pension reforms in Latin America.

Science.gov (United States)

Kritzer, Barbara E; Kay, Stephen J; Sinha, Tapen

2011-01-01

Latin America led the world in introducing individual retirement accounts intended to complement or replace defined benefit state-sponsored, pay-as-you-go systems. After Chile implemented the first system in 1981, a number of other Latin American countries incorporated privately managed individual accounts as part of their retirement income systems beginning in the 1990s. This article examines the subsequent "reform of the reform" of these pension systems, with a focus on the recent overhaul of the Chilean system and major reforms in Mexico, Peru, and Colombia. The authors analyze key elements of pension reform in the region relating to individual accounts: system coverage, fees, competition, investment, the impact of gender on benefits, financial education, voluntary savings, and payouts.

IMPLICATIONS OF THE ASSOCIATION AGREEMENT WITH THE EUROPEAN UNION ON THE FINANCIAL PUBLIC MANAGEMENT IN THE REPUBLIC OF MOLDOVA

Directory of Open Access Journals (Sweden)

Lilia ROTARU

2015-09-01

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.

Emerging markets and the international financial architecture: a blueprint for reform

Directory of Open Access Journals (Sweden)

JAN KREGEL

2015-06-01

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.

What is Good University Financial Management?

Science.gov (United States)

Taylor, Mark P.

2013-01-01

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…

24 CFR 84.21 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 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...

School-Based Management: The Next Needed Education Reform.

Science.gov (United States)

Guthrie, James W.

1986-01-01

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…

40 CFR 30.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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 CFR 32.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

MANAGING FOR RESULTS: Using GPRA To Help Congressional Decisionmaking and Strengthen Oversight

National Research Council Canada - National Science Library

Walker, David

2000-01-01

... 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...

UTILITY OF ANNUAL FINANCIAL STATEMENTS IN THE MANAGEMENT PROCESS

Directory of Open Access Journals (Sweden)

PUICAN LILIANA

2015-07-01

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.

Managing effective reform for Community Medicine subject: Vision to actions

Directory of Open Access Journals (Sweden)

Amiruddin Kadri

2017-12-01

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.

25 CFR 276.7 - Standards for grantee financial management systems.

Science.gov (United States)

2010-04-01

... 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...

75 FR 4451 - Financial Management Service; Proposed Collection of Information: Final Rule-Management of...

Science.gov (United States)

2010-01-27

... 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...

2 CFR 215.20 - Purpose of financial and program management.

Science.gov (United States)

2010-01-01

... 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 CFR 74.20 - Purpose of financial and program management.

Science.gov (United States)

2010-07-01

... 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 CFR 518.20 - Purpose of financial and program management.

Science.gov (United States)

2010-04-01

... 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...

THE FINANCIAL MANAGEMENT AND REGIONAL DEVELOPMENT

Directory of Open Access Journals (Sweden)

Brindusa Tudose

2015-07-01

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.

Corporate Governance: Insider Information, the Bane of Financial ...

African Journals Online (AJOL)

The finding is that the insider information possessed by the manager informed the manipulation of firms, securities, risky business, terms, prices, etc, for their benefit to the detriment of investors and therefore caused the financial melt-down. Finally, the major recommendation is that corporate governance needs reforms for ...

Family Life Education for Remarriage: Focus on Financial Management.

Science.gov (United States)

Lown, Jean M.; And Others

1989-01-01

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…

Institutional change and corporate governance reform

Directory of Open Access Journals (Sweden)

Harilaos Mertzanis

2011-04-01

Full Text Available The global financial crisis has posed challenges to financial institutions governance. Meeting these challenges requires an understanding of governance dynamics in relation to institutions’ performance within a changing environment. The nature and scope of institutional response to a changing environment depends upon inherited governance structures, including socioeconomic conventions and rules of behavior at the macro level and time, expertise and common commitment of directors at the micro level. Innovation and learning-by-doing in governance can be an effective reform strategy. Innovation in governance may include the establishment of new norms of economic behavior and the transformation of decision-making process and the reallocation of responsibilities to directors and senior management. This may also inform regulatory approaches in strengthening financial institutions governance, based on improved disclosure, independent and competent boards

MANAGEMENT OF FINANCIAL STABILITY OF ENTERPRISES

Directory of Open Access Journals (Sweden)

Vladimir P. Bogko

2013-01-01

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.

The role of 'financial myths' in financial crises

OpenAIRE

Eric S. Rosengren

2011-01-01

Remarks by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, at the Boston University conference on The State of Financial Reform (panel on Lessons Learned from the Global Financial Meltdown), February 28, 2011, Boston, Massachusetts

49 CFR 19.21 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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...

43 CFR 12.921 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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...

45 CFR 2543.21 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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...

15 CFR 14.21 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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...

38 CFR 49.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

36 CFR 1210.21 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

45 CFR 2541.200 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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 CFR 638.808 - Center financial management and reporting.

Science.gov (United States)

2010-04-01

... 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...

REFORMING OF LAND MANAGEMENT SYSTEM UNDER AUTHORITY OF DECENTRALIZATION

Directory of Open Access Journals (Sweden)

Dorosh O.S.

2016-05-01

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

7 CFR 3560.302 - Accounting, bookkeeping, budgeting, and financial management systems.

Science.gov (United States)

2010-01-01

... 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...

The Architecture of Financial Risk Management Systems

Directory of Open Access Journals (Sweden)

Iosif ZIMAN

2013-01-01

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.

Financial Management: Analysis of DoD's First Biennial Financial Management Improvement Plan

National Research Council Canada - National Science Library

1999-01-01

...). 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...

7 CFR 3016.20 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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...

10 CFR 600.311 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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 CFR 277.6 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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...

44 CFR 13.20 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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...

Assessment of financial management of the National Health Fund in 2005-2011

Directory of Open Access Journals (Sweden)

Agata Gastecka

2015-04-01

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.

42 CFR 137.21 - How does an Indian Tribe demonstrate financial stability and financial management capacity?

Science.gov (United States)

2010-10-01

... 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...

7 CFR 25.606 - Financial management and records.

Science.gov (United States)

2010-01-01

... 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...

38 CFR 43.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

10 CFR 603.620 - Financial management standards for nonprofit participants.

Science.gov (United States)

2010-01-01

... 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...

Changes in chronic disease management among community health centers (CHCs) in China: Has health reform improved CHC ability?

Science.gov (United States)

Wang, Zhaoxin; Shi, Jianwei; Wu, Zhigui; Xie, Huiling; Yu, Yifan; Li, Ping; Liu, Rui; Jing, Limei

2017-07-01

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.

Financial Management: U.S. Army Corps of Engineers Financial Information Imported Into the Defense Departmental Reporting System - Audited Financial Statements

National Research Council Canada - National Science Library

Granetto, Paul J; Peek, Marvin L; Armstrong, Jack L; Wenzel, Paul C; Furey, Kathleen A; Zimmerman, Craig W

2004-01-01

... 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...

40 CFR 35.6270 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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 CFR 97.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

45 CFR 1157.20 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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 CFR 33.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

Financial Management Challenges In Small And Medium-Sized Enterprises: A Strategic Management Approach

Directory of Open Access Journals (Sweden)

Hande Karadag

2015-02-01

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

Management accounting use and financial performance in public health-care organisations: evidence from the Italian National Health Service.

Science.gov (United States)

Macinati, Manuela S; Anessi-Pessina, E

2014-07-01

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.

Colombia - National Level Public Financial Management and Procurement Report : Status of the Public Financial Management and Procurement System

OpenAIRE

World Bank; Inter-American Development Bank

2009-01-01

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...

Internal Controls and Compliance With Laws and Regulations for the Defense Finance and Accounting Service Working Capital Fund Financial Statements for FY 1998

National Research Council Canada - National Science Library

1999-01-01

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...

Micro-prudentiality and financial stability

Directory of Open Access Journals (Sweden)

Cristian Ionescu

2012-12-01

Full Text Available Given the high degree of importance of issues related to financial instability in modern economies, (financial, economic and social aspects, it is necessary the analysis of the microeconomic components that determine macroeconomic fluctuations, resulting in the visible financial instability. Thus, this paper aims to analyze the following aspects: financial fragility, as a measure of financial instability at the microeconomic level; micro-prudential regulation; microeconomic reform measures, which addresses problems related to capital, liquidity, risk management and supervision and market discipline. All these are integrated into the international Basel III framework of the Bank of International Settlements Regulations. In addition, the manner and the time of Basel III implementation of the capital and liquidity-related measures is very important. In addition, the paper aims to analyze the inter-connections and the compromises between capital and liquidity, trying to understand how the two are connected.

41 CFR 105-71.120 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

THEORETICAL ASPECTS OF FINANCIAL LIBERALIZATION PROCESS

Directory of Open Access Journals (Sweden)

Ciupac-Ulici Maria-Lenuta

2013-07-01

Full Text Available Financial liberalization process and its implications on financial emerging markets have been multidisciplinary research since 1970. Reform of financial liberalization is a complex and long phenomena. This implies that the impact of this reform on financial markets should not be immediate, but rather gradually during a long time period. It is also important to note that liberalization does not occur in the same way on all financial markets. Each country, according to his specification regarding the economic climate and the specificity of financial markets, has differently set its progress of liberalization process. It is generally accepted that the process of financial liberalization is not composed of a single event, but a series of events. The idea is that market reform is a gradual process where the data identified above only refers to the most significant events. Regarding the effect of liberalization reform on emerging markets has been shown; on the one hand, that liberalization helps to reduce the cost of capital, helps to integrate the emerging markets in the global market, enhances economic growth and allows emerging markets to become more mature. On the other hand, financial liberalization process has a very ambiguous and inconclusive impact on informational efficiency and volatility in emerging markets. Launching liberalization reforms provided an analytical framework for studies that attempt to investigate the effectiveness of emerging markets and empirical links between liberalization and efficiency. The first reason is that with liberalization, the authors believe that emerging markets have become more speculative and more competitive. So there is a chance to see if the weak form market efficiency is verified. The second reason is that the authors explore the relationship between liberalization and efficiency. Researchers and regulators seek an answer to the fundamental question: financial liberalization helps the stock market

BUSINESS PROCESSES TRANSFORMATION IN THE METHODOLOGY OF MULTILEVEL FINANCIAL MANAGEMENT

Directory of Open Access Journals (Sweden)

Andrey G. Mikheev

2016-01-01

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.

Towards Certified Management of Financial Contracts

DEFF Research Database (Denmark)

Bahr, Patrick; Berthold, Jost; Elsman, Martin

2014-01-01

. 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...

24 CFR 85.20 - Standards for financial management systems.

Science.gov (United States)

2010-04-01

... 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 CFR 18.20 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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...

36 CFR 1210.20 - Purpose of financial and program management.

Science.gov (United States)

2010-07-01

... 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...

Mali - Public Expenditure Management and Financial Accountability Review : Public Financial Management Performance Report

OpenAIRE

World Bank

2010-01-01

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...

24 CFR 901.35 - Indicator #6, financial management.

Science.gov (United States)

2010-04-01

... 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...

Optimal Investment by Financially Xenophobic Managers

OpenAIRE

Jason G. Cummins; Ingmar Nyman

2000-01-01

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...

41 CFR 105-72.301 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

Financial Management in the Strategic Systems Project Office.

Science.gov (United States)

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

Senior Financial Analyst – External Funds Management | IDRC ...

International Development Research Centre (IDRC) Digital Library (Canada)

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 ...

7 CFR 3015.61 - Financial management standards.

Science.gov (United States)

2010-01-01

... 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...

Collaborative Customer Management in Financial Services Alliances

OpenAIRE

Geib, Malte; Kolbe, Lutz; Brenner, Walter

2004-01-01

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...

Managing risk selection incentives in health sector reforms.

Science.gov (United States)

Puig-Junoy, J

1999-01-01

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.

Ten financial management principles for survival.

Science.gov (United States)

Cleverley, W O

1988-03-01

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.

31 CFR Appendix G to Subpart A of... - Financial Management Service

Science.gov (United States)

2010-07-01

... 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...

Efficiency Analysis of Financial Management Administration of ABC Hospital using Financial Ratio Analysis Method

Directory of Open Access Journals (Sweden)

Jonny Jonny

2016-05-01

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.

GRANT FINANCIAL SYSTEM REQUIREMENTS; Checklist for Reviewing Systems Under the Federal Financial Management Improvement Act

National Research Council Canada - National Science Library

2001-01-01

...) 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...

Practice management companies improve practices' financial position.

Science.gov (United States)

Dupell, T

1997-11-01

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.

How different are hospitals' responses to a financial reform? The impact on efficiency of activity-based financing.

Science.gov (United States)

Biørn, Erik; Hagen, Terje P; Iversen, Tor; Magnussen, Jon

2010-03-01

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.

Financial Management of Economic Entity from the Perspective of Alternative Approach

Directory of Open Access Journals (Sweden)

Victor Munteanu

2016-12-01

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.

The Rise of the Financial Planning Industry

Directory of Open Access Journals (Sweden)

Michelle Cull

2009-03-01

Full Text Available The financial planning industry in Australia has experienced significant reform in the lastdecade. This reform has not only made a considerable impact on financial planners but also onother groups such as the accounting profession, regulators, the financial services industry,educators and consumers. Although consumer protection was at the heart of this reform, it hasalso prompted the industry and other groups to consider financial planning as a profession.This paper begins with a definition of financial planning, followed by a discussion of thehistorical origins of financial planning. Several examples are used to illustrate how the industryhas developed and changed over time considering the impact of social, cultural, institutional,political and economic factors. Particular attention is given to the role of the accountingprofession and government regulation in Australia. The paper concludes with a discussion of theprofessionalisation of financial planning in light of the increased pressure for changes inremuneration practice in the industry.

THE STAGES OF ESTABLISHMENT AND DEVELOPMENT OF FINANCIAL MANAGEMENT

Directory of Open Access Journals (Sweden)

Roman GRESHKO

2017-06-01

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.

Changes in Journal Financial Management

Science.gov (United States)

Editorial Staff, Jce

2009-06-01

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.

28 CFR 70.20 - Purpose of financial and program management.

Science.gov (United States)

2010-07-01

..., 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...

48 CFR 1852.242-73 - NASA contractor financial management reporting.

Science.gov (United States)

2010-10-01

... 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...

Manager, Financial Systems | IDRC - International Development ...

International Development Research Centre (IDRC) Digital Library (Canada)

... 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.

28 CFR 66.20 - Standards for financial management systems.

Science.gov (United States)

2010-07-01

... 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...

Spain; Financial System Stability Assessment

OpenAIRE

International Monetary Fund

2012-01-01

This report summarizes the findings of the Financial Sector Assessment Program (FSAP) Update for Spain. Although there is a core of strong banks that are well managed and appear resilient to further shocks, vulnerabilities remain. Substantial progress has been made in reforming the former savings banks, and the most vulnerable institutions have either been resolved or are being restructured. Recent measures address the most problematic part of banks’ portfolios. Moving ahead, a further restru...

Financial incentives for disease management programmes and integrated care in German social health insurance.

Science.gov (United States)

Greb, Stefan; Focke, Axel; Hessel, Franz; Wasem, Jürgen

2006-10-01

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.

10 CFR 600.120 - Purpose of financial and program management.

Science.gov (United States)

2010-01-01

... 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...

36 CFR 64.12 - Standards for grantee financial management systems.

Science.gov (United States)

2010-07-01

... 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. ...

20 CFR 435.20 - Purpose of financial and program management.

Science.gov (United States)

2010-04-01

... 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...

45 CFR 2543.20 - Purpose of financial and program management.

Science.gov (United States)

2010-10-01

... 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...

45 CFR 92.20 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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...

15 CFR 24.20 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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...

45 CFR 602.20 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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...

13 CFR 143.20 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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...

14 CFR 1273.20 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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...

10 CFR 600.220 - Standards for financial management systems.

Science.gov (United States)

2010-01-01

... 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...

Financial Management of Libraries: Past Trends and Future Prospects.

Science.gov (United States)

Roberts, Stephen A.

2003-01-01

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.…

The effects of hospital reforms on the management of public hospitals in Tanzania: Challenges and lessons learnt.

Science.gov (United States)

Shwekerela, Byera

2014-01-01

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.

Fundamental dimensions of Financial condition in the federal government

OpenAIRE

Murphy, Mark S.

2001-01-01

Historically, financial reports of federal agencies focused on budgetary accounting, the reporting of obligations and expenditures of appropriated funds. The Chief Financial Officers (CFO) Act of 1990 and subsequent legislation significantly changed this pattern by requiring the 24 largest government agencies to reorganize their financial staffs and establish Chief Financial Officers to reform accounting procedures and reporting. To achieve the goals of the financial reform acts, it must be d...

Financial Management and Culture: The American Indian Case

Science.gov (United States)

Danes, Sharon M.; Garbow, Jennifer; Jokela, Becky Hagen

2016-01-01

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…

10 CFR 603.615 - Financial management standards for-profit firms.

Science.gov (United States)

2010-01-01

... 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...

24 CFR 84.20 - Purpose of financial and program management.

Science.gov (United States)

2010-04-01

... 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...

14 CFR 1260.120 - Purpose of financial and program management.

Science.gov (United States)

2010-01-01

... 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...

FINANCIAL RISKS ASSOCIATED WITH THE GOVERNMENTAL PUBLIC DEBT’S PORTFOLIO

Directory of Open Access Journals (Sweden)

MARIANA MAN

2010-01-01

Full Text Available The management of public debt is a process strictly connected with and dependent on fiscal and budget policy as well as on monetary policy. Under such circumstances the analysis of governmental public debt’s portfolio is carried out by taking into consideration both the internal macroeconomic evolutions and estimations (economic growth, inflation, budget incomes and the level of budget deficit, monetary conditions and structural reforms –pensions’ reform, the efficiency of capital internal market, and the evolution of world-wide economy influencing Romania’s loan terms on international financial markets. An important component of the management of governmental public debt is the management of the risks connected to debt’s portfolio that involves activities of identification, evaluation, and insurance against various categories of risk.

Security Sector Reform in Albania

OpenAIRE

Abazi, Enika; Bumci, Aldo; Hide, Enri; Rakipi, Albert

2009-01-01

International audience; This paper analyses security sector reform (SSR) in Albania. In all its enterprises in reforming the security sector,Albania is assisted by different initiatives and projects that provide expertise and financial support. To assesswhether reforms improved the overall security environment (national and human) of the country, it is necessaryto measure the effectiveness of the various initiatives and projects. This is gauged by how well the initiatives andprojects achieved...

Modernising Education: New Public Management Reform in the Norwegian Education System

Science.gov (United States)

Møller, Jorunn; Skedsmo, Guri

2013-01-01

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…

76 FR 9870 - Financial Management Policies-Interest Rate Risk

Science.gov (United States)

2011-02-22

... 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...

Existence crises of actual financial management systems

OpenAIRE

SVASTA Mihai

2009-01-01

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 ...

The organization of political parties and the politics of bureaucratic reform

OpenAIRE

Cruz, Cesi; Keefer, Philip

2013-01-01

Bureaucratic reform is a priority of donor organizations, including the World Bank, but is notoriously difficult to implement. In many countries, politicians have little interest in the basic financial and personnel management systems that are essential to political oversight of bureaucratic performance. To explain this, this paper presents a new perspective on the political economy of bur...

10 CFR 600.310 - Purpose of financial and program management.

Science.gov (United States)

2010-01-01

... 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...

Financial management of low-income urban families

Energy Technology Data Exchange (ETDEWEB)

Schnittgrund, K.P. (Univ. of California, Riverside); Baker, G.

1983-09-01

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.

76 FR 23646 - Financial Management Policies-Interest Rate Risk

Science.gov (United States)

2011-04-27

... 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...

INFLUENCE OF RELATIONS WITH INTERNATIONAL FINANCIAL INSTITUTIONS ON INSTITUTIONAL TRANSFORMATIONS OF ECONOMY

Directory of Open Access Journals (Sweden)

Galyna POCHENCHUK

2014-12-01

Full Text Available The article deals with the problem of the impact of transitional countries cooperation with international financial institutions on institutional changes which take place in emerging market economies, on the base of Ukraine. Research is carried out from the standpoint of institutional theory. The main reforms that took place in emerging market economy countries were based on the Washington Consensus strategy recommended by international financial institutions. The results of implementing this strategy are varied in different countries. In Ukraine strict adherence to requirements in the early stages of reforms without internal institutional conditions and characteristics led to a deep and protracted crisis of forming a "transformational stability." The general formal institutions of the market economy have been created according to the neoliberal concept which is provided by IFIs. However, experience of transitive economies including Ukraine, confirms the ineffectiveness of many established formal institutions borrowed from the developed countries. The author reviews the basic theory of institutional changes, argues that the terms of cooperation circulated by international financial institutions not only affect economic development strategy, but also determine the role of the national government in relations with markets. Under present conditions prevailing in Ukraine, it is impossible to manage without assistance of international financial institutions. But we need to pay more attention to technical and advisory cooperation in realization of institutional reforms, and credits – to take as a required time for receiving the results of reforms.

Polycentrism and Poverty: Experiences of Rural Water Supply Reform in Namibia

Directory of Open Access Journals (Sweden)

Thomas Falk

2009-02-01

This paper investigates how polycentric rural water supply reform impacts on natural resource management and water users’ livelihoods in three communal areas of Namibia. The analysis takes into account the effects of historic discriminative policies and the resulting low financial, human and social capital of rural communities. We conclude that the devolution of institutional and financial responsibility for water supply to users has had a positive impact on rural water management. However, the introduction of cost recovery principles conflicts with the objectives of the Namibian government to alleviate poverty and inequality. The high level of inequality within the country as a whole and also within communities impedes the development of fair fee systems. Polycentrism faces the major challenge of building on existing structures without replicating historic injustices. It allows, however, for the state to mitigate any negative impact on livelihoods. While the reform is in the process of full implementation, the government is discussing various options of how the poor can be guaranteed access to water without diminishing their development opportunities. The Namibian experience demonstrates the difficulties in developing effective incentive mechanisms without undermining major social objectives. Our analyses show that, compared to naive monocentric governance approaches, polycentrism offers much broader opportunities for achieving multidimensional objectives. Nonetheless, a reform does not become successful simply because it is polycentric.

Theoretical Grounds of Enterprise Anti-crisis Financial Management

Directory of Open Access Journals (Sweden)

Berest Maryna M.

2014-03-01

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.

FINANCIAL RISK MANAGEMENT IN TRADE BANKS

Directory of Open Access Journals (Sweden)

Ms. Tamara Ye. Kononenko

2016-09-01

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.

Improving Financial Awareness among College Students: Assessment of a Financial Management Project

Science.gov (United States)

Palmer, Lance; Bliss, Donna L.; Goetz, Joseph W.; Moorman, Diann

2010-01-01

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…

The historical development of management accounting discursive role in NPM reforms

DEFF Research Database (Denmark)

Malmmose, Margit

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...

The Time Value of Money in Financial Management

Directory of Open Access Journals (Sweden)

Munteanu Irena

2017-01-01

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.

Impact of Land Reform Migration on Natural Resource Management ...

International Development Research Centre (IDRC) Digital Library (Canada)

2008-09-04

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 ...

41 CFR 105-72.300 - Purpose of financial and program management.

Science.gov (United States)

2010-07-01

... 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...

On the Path to SunShot - Utility Regulatory Business Model Reforms forAddressing the Financial Impacts of Distributed Solar on Utilities

Energy Technology Data Exchange (ETDEWEB)

None, None

2016-05-01

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.

The Price and Progress of Compliance with Federal Financial Management Reporting Requirements in Department of the Navy Property, Plant, and Equipment Nonfinancial Feeder Systems

National Research Council Canada - National Science Library

Burks, Michael

2000-01-01

.... 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...

Two decades of tax-sharing system reform in China: a comparative study

Institute of Scientific and Technical Information of China (English)

Bai Yanfeng; Wang Kai

2015-01-01

Two decades have passed since the Tax-sharing System Reform began in China.We discuss deep-seated problems in the financial management system.We contend that from the point of fiscal relations among different levels of government,the marked decline of the central government's fiscal revenue as a share of the national total indicates that the macroeconomic regulation and control function of the central government has weakened;from the point of the form of fiscal revenue,the constant downward trend of the proportion of the tax revenue indicates that the old problem of excessive types of fiscal revenue forms have reappeared;from the perspective of tax structure,although the proportion of direct taxes has grown,turnover tax continues to account for the majority of tax revenue and the unbalanced dual-subject tax system has changed little,which indicates China's tax structure has brought about stagnation.We believe that China's tax reform should be incorporated into the medium-term fiscal planning in order to solve deep-seated problems in operation of the financial management system.

31 CFR Appendix G to Subpart C of... - Financial Management Service

Science.gov (United States)

2010-07-01

... 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...

Management And Organization Reforms At The Muhimbili National ...

African Journals Online (AJOL)

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 ...

Traditional Market Accounting: Management or Financial Accounting?

OpenAIRE

Wiyarni, Wiyarni

2017-01-01

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...

Building Responsive and Responsible Financial Regulators in the Aftermath of the Global Financial Crisis

NARCIS (Netherlands)

Iglesias Rodriguez, P.

2015-01-01

The global financial crisis that started in 2007 sparked several academic debates about the role that financial sector regulators played in the crisis and prompted policy reforms in the financial supervision architectures of several countries. This book focuses on the question of what

75 FR 57274 - Financial Management and Assurance; Government Auditing Standards

Science.gov (United States)

2010-09-20

... 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...

Analysis of Informationization Construction of Business Financial Management under the Network Economy

Science.gov (United States)

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.

Analysis of Financial Management in Micro and Small Enterprises Osasco

Directory of Open Access Journals (Sweden)

Michele Caroline Lima Formenti

2015-06-01

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.

Financial management practices and their impact on organizational performance

OpenAIRE

Butt, Babar Zaheer; Hunjra, Ahmed Imran; Rehman, Kashif-Ur-

2010-01-01

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...

Integrated Financial Supervision: an Institutional Perspective for the Philippines

OpenAIRE

Milo, Melanie S.

2007-01-01

This paper looks at the issue of reforming financial regulatory structures from the New Institutional Economics perspective. In particular, it examines how the broader institutional environment prevailing in developing countries like the Philippines may affect the institutional arrangements for financial regulation, and how these might be taken into consideration when designing or reforming financial regulatory structures. The paper argues that the state of financial conglomerates in the Phil...

THE ECONOMETRICS OF THE FORECASTING OF FINANCIAL RESOURCES, A MAIN COMPONENT OF THE FINANCIAL MANAGEMENT

Directory of Open Access Journals (Sweden)

2009-05-01

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.

Global financial crisis and surgical practice: the Greek paradigm.

Science.gov (United States)

Karidis, Nikolaos P; Dimitroulis, Dimitrios; Kouraklis, Gregory

2011-11-01

Apart from the significant implications of recent financial crisis in overall health indices and mortality rates, the direct effect of health resources redistribution in everyday clinical practice is barely recognized. In the case of Greece, health sector reform and health spending cuts have already had a major impact on costly interventions, particularly in surgical practice. An increase in utilization of public health resources, lack of basic and advanced surgical supplies, salary deductions, and emerging issues in patient management have contributed to serious dysfunction of a public health system unable to sustain current needs. In this context, significant implications arise for the surgeons and patients as proper perioperative management is directly affected by reduced public health funding. The surgical community has expressed concerns about the quality of surgical care and the future of surgical progress in the era of the European Union. Greek surgeons are expected to support reform while maintaining a high level of surgical care to the public. The challenge of cost control in surgical practice provides, nevertheless, an excellent opportunity to reconsider health economics while innovation through a more traditional approach to the surgical patient should not be precluded. A Greek case study on the extent of the current situation is presented with reference to health policy reform, serving as an alarming paradigm for the global community under the pressure of a profound financial recession.

Financial management practices in successful Small and Medium Enterprises (SMEs

Directory of Open Access Journals (Sweden)

Hendrik Petrus Wolmarans

2015-07-01

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

Certified symbolic management of financial multi-party contracts

DEFF Research Database (Denmark)

Bahr, Patrick; Berthold, Jost; Elsman, Martin

2015-01-01

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...

45 CFR 74.20 - Purpose of financial and program management.

Science.gov (United States)

2010-10-01

... 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...

16 CFR 1000.19 - Office of Financial Management, Planning and Evaluation.

Science.gov (United States)

2010-01-01

... 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...

Managing to reduce nuclear financial risks

International Nuclear Information System (INIS)

Sillin, J.O.

1984-01-01

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

Liquidity management through financial planning

Directory of Open Access Journals (Sweden)

Kameníková Katarína

2001-12-01

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.

Public Management Reform without Managers: The Case of German Public Schools

Science.gov (United States)

Mintrop, Rick

2015-01-01

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…

Analysis of the National Modernizers Network for the Support of the Public Administration Reform Process from Romania

Directory of Open Access Journals (Sweden)

Alina PROFIROIU

2010-10-01

Full Text Available The reform process of the state and implicitly of the public administration was a priority for the past governments of Romania. During 2004- 2009, within the reform process, the main actors involved in the coordination, implementation and monitoring of reform measures were: the Prime Minister, the Superior Council for Public Administration Reform, Public Policy Coordination and Structural Adjustment, the Ministry of Public Finance, the General Secretariat of Government, Ministry of Administration and Interior (renamed for a short time Ministry of Interior and Administrative Reform, the Central Unit for Public Administration Reform, National Institute of Administration, the National Agency of Civil Servants, and the National Modernizers Network. For evaluation of aspects related to the reform process it was designed a selective research within the members of the National Modernizers Network, for assessing their perception of the public administration reform undertaken by the institutions presented above. Evaluating their opinion can be an important point in the revitalization of the area of the administration reform process. Also, the research conducted aimed at assessing the degree of modernizers’ involvement in activities related to important aspects of the reform process: strategic planning, formulating and evaluating public policies, financial management, human resources management, decentralization, introduction of new information and communication technologies and administrative simplification.

Nurses' Educational Needs Assessment for Financial Management Education Using the Nominal Group Technique.

Science.gov (United States)

Noh, Wonjung; Lim, Ji Young

2015-06-01

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.

Financial statements in the function of management decision

Directory of Open Access Journals (Sweden)

Mrvaljević Mirjana

2014-01-01

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.

Optimization on the financial management of the bank with goal ...

African Journals Online (AJOL)

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 ...

The Public Manager, the Structure of Public Institution, and Implementation: The 2002-2012 Finnish Senior Bureaucratic Manager Reform

Science.gov (United States)

Mukhtar, Mohammed Ibn

2015-01-01

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…

Financial Management Status Report and 5-Year Plan, 1997 Through 2001

National Research Council Canada - National Science Library

1997-01-01

This financial management status report contains the GSA vision statement, goals and strategies, asset management, organization and personnel, accountability and control, financial management systems...

Library of Michigan: Financial Management Reference Guide.

Science.gov (United States)

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…

Beyond greed and fear: sustainable financial management

NARCIS (Netherlands)

Boersma-de Jong, Margreet F.

2013-01-01

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

43 CFR 12.60 - Standards for financial management systems.

Science.gov (United States)

2010-10-01

... 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...

Management of financial sources for innovative development: foreign countries experience

Directory of Open Access Journals (Sweden)

Dyba O. M.

2016-12-01

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.

Managing climate change risk : emerging financial sector expectations

International Nuclear Information System (INIS)

Williams, R.

2004-01-01

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

Financial Management: FFMIA Implementation Critical for Federal Accountability

National Research Council Canada - National Science Library

Thompson, Sally

2001-01-01

.... 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.

7 CFR 3560.578 - Financial management of labor housing.

Science.gov (United States)

2010-01-01

... 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...

The Derivatives as Financial Risk Management Instruments: The Case of Croatian and Slovenian Non-financial Companies

Directory of Open Access Journals (Sweden)

Danijela Miloš Sprčić

2007-12-01

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

Introduction of policy of management of financial risks in LLC Tekhosnastka

Directory of Open Access Journals (Sweden)

N. N. Kudryavtseva

2017-01-01

Full Text Available Proposed the technique of development of the system of actions to implementation of the effective development strategy of the enterprise is described. Control of financial risks of the enterprise represents a part of activities of the financial manager. Each enterprise for support of stable operation in the future, shall have accurately definite purposes. The most effective system of management is the system of strategic management which demands from principals of understanding of an entity of strategy, use of receptions and methods of strategic management, development of strategic plans. From here, strategy shall change and adapt to change of conditions, both the external, and internal environment. Therefore, the business management problem is urgent. The analysis of the specified problems showed absence of effective management of the enterprises taking into account risk situations. Now there are no effective techniques and models of business management representing the relations of the economic subject assuming correlation in provision and consuming of goods and services. The policy of control of financial risks represents a part of the general financial strategy of the enterprise consisting in system development an action for neutralization of possible negative financial consequences of the risks connected to implementation of different aspects of financial activities. Within this policy the list of financial risks is defined. The most significant financial risks are identified and by means of a ball scale ranging of risks is made and the curve of accents is defined. The conclusion is drawn on a status of a problem of financial risks at the enterprise: the most priority risk is the risk of lowering of financial stability (or risk of violation of equilibrium of financial development, it has the greatest assessment. Further risks of insolvency (or risk of unbalanced liquidity the enterprises and criminogenic risk follow. The least priority is

INTEGRATION OF FINANCIAL AND NON-FINANCIAL REPORTS UNDER MANAGEMENT CONDITIONS

Directory of Open Access Journals (Sweden)

Mihail PRODANCIUK

2013-02-01

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.

Integration of financial and non-financial reports under management conditions

Directory of Open Access Journals (Sweden)

Prodanciuk Mihail

2013-02-01

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.

77 FR 30050 - Financial Management Service Proposed Collection of Information: Resolution Authorizing Execution...

Science.gov (United States)

2012-05-21

... 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...

Government Financial Management, Strategy for Preventing Corruption in Indonesia

Directory of Open Access Journals (Sweden)

Haryono Umar

2013-07-01

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

78 FR 15123 - Financial Management Service; Proposed Collection of Information: Accountable Official...

Science.gov (United States)

2013-03-08

... 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...

Sales compensation governance: the last frontier of corporate reform.

Science.gov (United States)

Gundy, Peter R; Gaeta, Elizabeth C

2004-01-01

The area of sales compensation has remained relatively untouched by recent pressures for compensation reform. This article highlights some of the ways that sales organizations stumble in managing their compensation programs, and why it takes more than a simple tactical fix to address these problems effectively. The authors describe a more structured governance framework that not only identifies and resolves key sales compensation issues, but ultimately safeguards the effectiveness and financial integrity of the sales organization itself.

Organizational provision of management of bank financial and economic activities

Directory of Open Access Journals (Sweden)

O.V. Lysenok

2018-04-01

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.

Switching gains and health plan price elasticities: 20 years of managed competition reforms in The Netherlands.

Science.gov (United States)

Douven, Rudy; Katona, Katalin; T Schut, Frederik; Shestalova, Victoria

2017-11-01

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.

Hospital Acquisitions Before Healthcare Reform.

Science.gov (United States)

McCue, Michael J; Thompson, Jon M; Kim, Tae Hyun

2015-01-01

The hospital industry has experienced increased consolidation in the past 20 years. Since 2010, in particular, there has been a large rise in the number of hospital acquisitions, and observers have suggested this is due in part to the expected impact of federal healthcare reform legislation. This article reports on a study undertaken to identify the market, management, and financial factors affecting acute care, community hospitals acquired between 2010 and 2012. We identified 77 such hospitals and compared them to other acute care facilities. To assess how different factors were associated with acquisitions, the study used multiple logistic regressions whereby market factors were included first, followed by management and financial factors. Study findings show that acquired hospitals were located in markets with lower rates of preferred provider organization (PPO) penetration compared with nonacquired hospitals. Occupancy rate was found to be inversely related to acquisition rate; however, case-mix index was significantly and positively related to a hospital's being acquired. Financial factors negatively associated with a hospital's being acquired included age of plant and cash flow margin. In contrast to the findings from earlier studies of hospital acquisitions, our results showed that acquired hospitals possessed newer assets. However, similar to the findings of other studies, the cash flow margin of acquired hospitals was lower than that of nonacquired facilities.

Impact of Deregulation on Financial Sector Development in Nigeria ...

African Journals Online (AJOL)

The financial system in an economy is known to serve as the lubricant which facilitates the smooth running of the economy. The Nigeria financial sector has undergone several reforms since 1987 when the Structural Adjustment Programme was introduced. This paper investigates the impact of these reforms on the ...

Financial policies and performance of line managers in Universities ...

African Journals Online (AJOL)

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 ...

BUDGETARY CLASSIFICATIONS’ ROLE IN PUBLIC FINANCIAL MANAGEMENT

Directory of Open Access Journals (Sweden)

Gyorgy Adina Cristina

2010-07-01

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.

Reforming Romanian energy policy

International Nuclear Information System (INIS)

Perkins, S.

1993-01-01

Success in reforming energy sector depends on the implementation of the programme of economic reform agreed in February 1993. The difficulty of the negotiations between the International Monetary Fund and the Romanian government reflects the wider difficulties faced by the economy as a whole. They can be blamed in part on the legacy of uneconomic and inflexible industrial development and in part on opposition from interest groups which stand to lose from reform. Nonetheless, in spite of hesitant approach, the government does appear committed to the economic reform necessary to establish a market-oriented economy. But as the danger of a financial crisis engendered by the inadequately supported short-term borrowing of foreign exchange becomes urgent, the question is whether economic reform can be now implemented fast enough to protect economic enterprises and saving from a debt crisis. The scope for further delay in implementing the 1993 economic reform programme is fast disappearing. Procrastination should not be allowed to threaten the success of the reforms achieved in the energy and other sectors of the economy. 8 refs., 2 figs

Financial analysis as a tool for asset and capital management

OpenAIRE

BLAŽKOVÁ, Andrea

2010-01-01

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.

Educational Management Organizations as High Reliability Organizations: A Study of Victory's Philadelphia High School Reform Work

Science.gov (United States)

Thomas, David E.

2013-01-01

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…

Methodical approach to financial stimulation of logistics managers

Directory of Open Access Journals (Sweden)

Melnykova Kateryna V.

2014-01-01

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.

Performance Based Logistics - A Bridge Between Acquisition Reform and Logistics Supply Chain Management

National Research Council Canada - National Science Library

Hurst, Dana

2006-01-01

.... 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...

77 FR 13153 - Information Collection; NASA Contractor Financial Management Reports

Science.gov (United States)

2012-03-05

..., [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...

25 CFR 23.46 - Financial management, internal and external controls and other assurances.

Science.gov (United States)

2010-04-01

... 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...

Advances in Financial Risk Management and Economic Policy Uncertainty: An Overview

NARCIS (Netherlands)

S.M. Hammoudeh (Shawkat); M.J. McAleer (Michael)

2014-01-01

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

Earning management in Brazilian financial institutions

Directory of Open Access Journals (Sweden)

Adriana Bruscato Bortoluzzo

2016-06-01

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.

32 CFR 700.323 - The Assistant Secretary of the Navy (Financial Management).

Science.gov (United States)

2010-07-01

... 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...

Financial Development and Economic Growth: Experiences of Selected Developing Economies

OpenAIRE

Ahmed, Syed; Horner, James; Rafiq, Rafiqul Bhuyan

2008-01-01

The last two decades of the twentieth century witnessed a series of financial reforms in emerging economics of Asia, Africa and Latin America. The seminal works of R.I. McKinnon and E.S. Shaw, which attribute the slow growth of these economies to financial repression, inspired many of these reforms. The McKinnon-Shaw thesis demonstrates how government regulations cause low savings and investment, and ultimately engender financial repression. Financial liberalization, in this view, creates mar...

The Reform of Management System of Accountants in China

Institute of Scientific and Technical Information of China (English)

无

2002-01-01

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.

Reforming the IMF: some organizational and operational issues

Directory of Open Access Journals (Sweden)

H. ASKARI

1999-12-01

Full Text Available While financial crises during the 1990s have started a lively debate on IMF policies toward member countries, reform of the Fund's organisational structure and operations have been largely ignored. Improved organisation and operations would increase IMF efficiency and membership participation, which would in turn increase IMF effectiveness in enhancing global economic conditions. In this paper, a number of such issues--quotas, voting structure and decision making; executive board and ministerial committees; management structure and staff; political dimensions, transparency andcredibility--are assessed.

Financial Sector Reforms and The Development of Financial ...

African Journals Online (AJOL)

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 ...

Current and future trends in public sector reform: The views of trade unions and consultants in ten European countries.

NARCIS (Netherlands)

D.S.D. Curry; W. Blijleven (Wieke); S.G.J. Van de Walle (Steven)

2014-01-01

markdownabstract__Abstract__ While public sector reform has been a constant process, sometimes evolutionary and sometimes revolutionary, the financial crisis that started in 2008, along with the streamlining and efficiency aims of New Public Management paradigms that began to emerge in the 1980s,

The Cash Flow as Financial Management Tool For Small Businesses

Directory of Open Access Journals (Sweden)

Osmar Siena

2015-06-01

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.

Appropriate Determination of Net Working Capital in Corporate Financial Management

Directory of Open Access Journals (Sweden)

Zdeněk Motlíček

2015-01-01

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.

Reformation of Taxation of Income and Added Value in the Context of Legalisation of Financial Flows

Directory of Open Access Journals (Sweden)

Paientko Tetiana V.

2014-01-01

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.

Developing a framework to investigate the personal financial management knowledge of individuals

Directory of Open Access Journals (Sweden)

Miemie Struwig

2013-02-01

Full Text Available This article focuses on the development of a framework for investigating the personal financial management knowledge of individuals. Content analysis is used to derive the components included in the personal financial management requirements framework. The framework developed includes six components, namely basic concepts in personal finances, management of personal finances, risk management, future planning, investing in financial resources and miscellaneous factors. A qualitative validation process revealed that the framework indeed covers what the average South African citizen is required to know about personal financial planning. The real test of this framework will be to use it in developing an instrument to test individuals’ knowledge of personal financial management. This process of empirically testing the framework, using such an instrument, warrants a separate article.

Public Management Reform in Napoleonic states: france, greece, Italy, Portugal, Spain

OpenAIRE

E. Ongaro

2008-01-01

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

Morocco; Financial System Stability Assessment

OpenAIRE

International Monetary Fund

2003-01-01

The Financial System Stability Assessment of Morocco reviews the reform program that is aimed at establishing a modern, market-oriented financial system that optimizes the mobilization of savings and the allocation of financial resources. It reviews the modernization of the banking sector and the development of competition within the sector, development of financial markets, and removal of constraints on financial system activity. It also provides reports on the Observance of Standards and Co...

The provincial health office as performance manager: change in the local healthcare system after Thailand's universal coverage reforms.

Science.gov (United States)

Intaranongpai, Siranee; Hughes, David; Leethongdee, Songkramchai

2012-01-01

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.

BUDGET PLANNING IN FINANCIAL MANAGEMENT

Directory of Open Access Journals (Sweden)

Nataliya Melnichuk

2015-11-01

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

Resources and Constraints of Line Manager Agency in Municipal Reforms

Directory of Open Access Journals (Sweden)

Tuula Heiskanen

2015-10-01

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.

The Analysis of the Refined Financial Management of Modern Enterprises

Directory of Open Access Journals (Sweden)

Li Ran

2016-01-01

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.

Korea's Post-Crisis Monetary Policy Reforms

OpenAIRE

Donghyun Park; Junggun Oh

2005-01-01

Korea's financial crisis of 1997–1998 was brought about by the unsustainable combination of large capital inflows and an inefficient financial system. The Bank of Korea contributed to the crisis primarily through its failures as the regulator of the financial system rather than as the conductor of monetary policy. Our paper explores the role of the two major monetary policy reforms Korea has implemented in response to the crisis — the establishment of a new financial regulator and the adoptio...

A retrospective content analysis of studies on factors constraining the implementation of health sector reform in Ghana.

Science.gov (United States)

Sakyi, E Kojo

2008-01-01

Ghana has undertaken many public service management reforms in the past two decades. But the implementation of the reforms has been constrained by many factors. This paper undertakes a retrospective study of research works on the challenges to the implementation of reforms in the public health sector. It points out that most of the studies identified: (1) centralised, weak and fragmented management system; (2) poor implementation strategy; (3) lack of motivation; (4) weak institutional framework; (5) lack of financial and human resources and (6) staff attitude and behaviour as the major causes of ineffective reform implementation. The analysis further revealed that quite a number of crucial factors obstructing reform implementation which are particularly internal to the health system have either not been thoroughly studied or overlooked. The analysis identified lack of leadership; weak communication and consultation; lack of stakeholder participation, corruption and unethical professional behaviour as some of the missing variables in the literature. The study, therefore, indicated that there are gaps in the literature that needed to be filled through rigorous reform evaluation based on empirical research particularly at district, sub-district and community levels. It further suggested that future research should be concerned with the effects of both systems and structures and behavioural factors on reform implementation.

The effectiveness of the Spanish banking reform application of Altman’s Z-Score

Directory of Open Access Journals (Sweden)

Ntoung A. T. Lious

2016-10-01

Full Text Available The recent financial crisis which causes bankruptcy around the world, Spain was placed at the top list because of the crucial state of its banking. This lead to a call to ensure adequate bank capitalization and reduce uncertainty regarding the strength of their balance sheets. In the light of recent event, the important of knowing the financial position of banks is imperative to shareholders. Thus, the aim of this study is to affirm the validity of Altman Z”-Score model as a predictors of the uncertainty regarding financial sector in Spain. This study takes into consideration two periods: before the banking reform and after the banking reform. It requires 30 financial institutions in Spain both big as well as small. Ratio analysis was carried out on the 30 banks before and after the reforms for five years prior to their bankruptcy or nationalisation as the Z” Score model has predictive power of up to five years before the reforms

75 FR 54445 - Senior Executive Service; Financial Management Service Performance Review Board (PRB)

Science.gov (United States)

2010-09-07

..., 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...

75 FR 42486 - Financial Management Service; Proposed Collection of Information: Authorization Agreement for...

Science.gov (United States)

2010-07-21

... 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...

DOD Financial Management: Significant Efforts Still Needed for Remediating Audit Readiness Deficiencies

Science.gov (United States)

2017-02-01

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

Reforms, Leadership and Quality Management in Greek Higher Education

Science.gov (United States)

Papadimitriou, Antigoni

2011-01-01

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…

ASPECTS OF FINANCIAL EQUILIBRIUM ANALYSIS AND ITS IMPLICATIONS IN MANAGEMENT DECISIONS

Directory of Open Access Journals (Sweden)

Daniela Cristina Solomon

2013-12-01

Full Text Available Considering the impact of risk factors in the economic environment, this study provides to all users of financial information a possible pattern for analyzing the financial equilibrium, designed to clarify the importance of dynamic analysis of indicators characterizing the financial equilibrium of an enterprise, expressed on absolute values, especially for managers in decision-making on future work, aimed at achieving pre-established strategic and tactical objectives. Practice has shown that the management cannot be based on intuition and routine but on a scientific analysis, on a thorough knowledge of the existing situation, as well as on the identification of vulnerabilities and opportunities for development. In order to promote a rational policy concerning business growth and achieving economic and financial satisfactory results, the company’s management grants a special importance to the financial diagnosis. The support of financial analysis is the balance sheet that allows developing financial diagnosis on the financial equilibrium conditions and creditworthiness, objectives that allow the evaluation of the independence of the firm and its market value.

Commands for financial data management and portfolio optimization

OpenAIRE

C. Alberto Dorantes

2013-01-01

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...

Las reformas sanitarias y los modelos de gestión Health sector reform and management models

Directory of Open Access Journals (Sweden)

Ginés González García

2001-06-01

Full Text Available This article tries to indicate the direction of progress in management being taken in health sector reforms in Latin America. The piece first discusses the tension between local forces and international neoliberal trends being manifested in the reform in various countries. The article next looks at the distinction between the tools and the management models that are being applied, presenting a taxonomy of three management levels: macromanagement (national health systems, midlevel management (hospitals, insurers, and other such institutions, and micromanagement (clinics. The piece concludes by reflecting on the future of management in the health sector in Latin America, where health systems are overadministered and undermanaged. Their future depends on multiple factors, most of which are outside the health care field itself. Better management of policies, institutions, and patients would be a tremendous tool in directing the future. Management is here to stay, with greater emphasis on either supply--hospitals and physicians--or demand--citizens or clients. For both the public and private sectors, health management is central to health sector reforms in Latin America.

76 FR 63351 - Senior Executive Service; Financial Management Service Performance Review Board (PRB)

Science.gov (United States)

2011-10-12

... 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...

77 FR 60177 - Senior Executive Service; Financial Management Service Performance Review Board (PRB)

Science.gov (United States)

2012-10-02

... 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...

Financial Management in School Administration.

Science.gov (United States)

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…

Financial Management and Financial Problems As They Relate to Marital Satisfaction in Early Marriage

OpenAIRE

Kerkmann, Barbara C.

1998-01-01

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...

Financial liberalization and growth in African economies: The role of policy complementarities

Directory of Open Access Journals (Sweden)

Ousmanou Njikam

2017-06-01

Full Text Available This paper examines whether the effect of financial liberalization on economic growth depends on reform complementarities. A non-linear growth regression specification that interacts a proxy of financial liberalization with proxies of reform complementarities is estimated using a panel of 45 Sub-Saharan Africa (SSA countries. The cross-country, panel-data evidence shows no clear relationship between financial liberalization and growth. The study however finds that financial liberalization is more likely to positively and significantly increase growth across the SSA region if the following complementary reforms are undertaken e.g. improvement in educational attainment, macroeconomic and external stability, and overall governance.

75 FR 1683 - Financial Management Service; Proposed Collection of Information: Assignment Form

Science.gov (United States)

2010-01-12

... 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...

The New Russian Budget System; A Critical Assessment and Future Reform Agenda

OpenAIRE

Jack Diamond

2002-01-01

This paper documents the main elements of the new budget system established in the Russian Federation through its revised budget system law, or the Budget Code, of 2000. It critically examines the budget preparation, budget approval, and budget execution processes, as well as the financial management and planning procedures that underlie the Budget Code. Based on this analysis, recent developments are discussed and a future reform agenda is indicated.

Financial Development Following Economic Growth: The Chinese Case

Directory of Open Access Journals (Sweden)

Chan il Park

2003-06-01

Full Text Available The purpose of this paper is to investigate the relationship between financial development and economic growth based on Chinese experiences during the period of 1979~2000. This study places more emphasis on the causality running from economic growth to financThe purpose of this paper is to investigate the relationship between financial development and economic growth based on Chinese experiences during the period of 1979~2000. This study places more emphasis on the causality running from economic growth to financial development contrary to the mainstream view, which asserts that the well-functioning financial systems exert a large positive impact on economic growth via two channels- capital accumulation and technological innovations. The reverse causality is postulated by considering two factors in developments of the country's financial system. Firstly, this paper argues that the rapid accumulation of financial assets and the remarkable expansion of the financial system during the examined period are due primarily to income rises and changes in industrial structures rather than inefficient financial reforms. Secondly, it is recognized in this study that various financial reform measures undertaken by the state since 1994 are emerged endogenously in response to Chinese financial disorders and macroeconomic imbalances built up during the 1979~93 period. This line of thinking is not following the mainstream view in which financial reforms are regarded as policy variables (or exogenous variables in promoting economic growth. These two factors imply that the causality may run from economic growth to financial development at least in China.

Financial Management Competence of Founding Teams and Growth of New Technology-Based Firms

DEFF Research Database (Denmark)

Brinckmann, Jan; Gemuenden, Hans Georg; Salomo, Søren

2009-01-01

This article draws on the resource-based view to analyze the role founding teams' financial management competencies play for firm growth. Prior research stressed the importance of acquiring external financial resources. In this study, we broaden the understanding of financial management in new......-assessments of their financial management competencies at start-up. We apply the partial least squares approach to determine the effects of the different financial management competencies on firm growth....... firms. We explore the relevance of strategic financial planning competence, external financing competence, competence in financing from cash flow, and controlling competence of entrepreneurial teams for the growth of new technology-based firms. A total of 212 founding teams provided self...

The allocative efficiency of the formal versus the informal financial sector

NARCIS (Netherlands)

Lensink, B.W.

An important reason for the disappointing effects of the financial reform programmes, as part of the structural adjustment programmes in sub-Saharan Africa, stems from the strong focus of the adjustment programmes on the formal banking sector. A financial reform programme which does not explicitly

The use of derivatives in Slovenian non-financial firms: is financial risk already well managed?

Directory of Open Access Journals (Sweden)

Aleš Berk

2006-12-01

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..

IMPLEMENTATION OF MODERN FOREIGN APPROACHES TO UKRAINIAN PENSION SYSTEM REFORMING

Directory of Open Access Journals (Sweden)

Anna Khemii

2017-11-01

Full Text Available A study of the experience of Western European countries in implementing structural reforms of the pension insurance system and the implementation of such experience in Ukraine. The main task of the pension system of any country in the world is to ensure the corresponding stable level of incomes of pensioners and at the same time maintain their financial stability. The increase in the proportion of pensioners increases the burden on pension systems, and mainly measures taken by countries are aimed at reducing pension costs and parametric reforms. Methodology. This article investigates the prerequisites and consequences of reforming the pension systems of the Member States of the Organization for International Cooperation and Development. Considered measures to ensure the financial stability of pension systems of the countries concerned, increased the social and stimulating role of pension insurance in the society. The methodological basis of the article is methods of scientific cognition, which enable to expose basic conformities to the law of development of the pension systems, priority ways to ensure their financial sustainability. Such methods are in particular used: analysis and synthesis – during research of financial indicators of pension systems; systematization – for revealing methods for reforming pension systems, their detailed analysis and the definition of their features; scientific abstraction – with the purpose of forming theoretical generalizations and conclusions. Results. The article investigates the trends of reforming pension insurance systems in some countries. It is established that today the main characteristics of pension reforms in foreign countries are increasing the retirement age, improving the solidary component of the pension system, reducing the role of state pension insurance. Some countries raise their contribution rates; the conditions for early retirement are becoming tougher. Almost nobody decided to

ТHE MANAGEMENT OF FINANCIAL STABILITY IN NATIONAL STRATEGIES

Directory of Open Access Journals (Sweden)

Rodica PERCIUN

2017-02-01

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.

24 CFR 990.310 - Purpose-General policy on financial management, monitoring and reporting.

Science.gov (United States)

2010-04-01

... 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...

Financial management practices and attitudes of dental hygienists: a descriptive study.

Science.gov (United States)

Russell, Katherine; Stramoski, Sandra

2011-01-01

The purpose of this study was to determine the financial management goals and practices of registered dental hygienists, their satisfaction with their current financial situations and their attitudes about savings, investments and retirement. A 40 question electronic survey was completed by 388 registered dental hygienists. The descriptive instrument assessed financial practices, attitudes, goals and beliefs, retirement mindset, savings habits, debt tendencies and demographic characteristics of respondents. Statistical analyses compared respondents' beliefs about their financial independence and security with their current financial practices. Analyses included: independent samples t-tests, chi-square analysis and ANOVA. Most dental hygienists believed themselves to be financially independent and reported satisfaction with their current financial situation. Significant relationships existed between respondents' satisfaction with their current financial situations and their financial attitudes and practices (saving regularly and having limited debt). Those who indicated they had personally saved for retirement were more likely to view these savings as their largest source of income during retirement, as opposed to Social Security benefits. A majority agreed that financial management education should be included in the dental hygiene curriculum, and that they would attend a continuing education course on the subject if offered. The results of this study suggest that hygienists have confidence in their ability to provide secure financial futures for themselves. Hygienists who practiced sound financial planning, such as adhering to monthly budgets, having wills, lowering debt and saving regularly, reported a higher level of financial security than those who did not. Most respondents expressed interest in receiving education about financial management through the dental hygiene curriculum and continuing education courses.

Integrated Curriculum Design Reform of Civil Engineering Management Discipline Based on Inter-disciplinary Professional Training

Science.gov (United States)

Yidong, Xu; Ping, Wu; Jian, Chen; Jiansheng, Shen

2018-05-01

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.

Norms, legitimacy, and global financial governance

NARCIS (Netherlands)

Underhill, G.R.D.; Zhang, X.

2006-01-01

Despite regular and serious systemic volatility, reform of international financial architecture remains limited, retaining market-oriented characteristics and adjustment mechanisms. A failure of the architecture to focus on the political underpinnings of global financial and monetary governance

An Empirical Study of Industrial Engineering and Management Curriculum Reform in Fostering Students' Creativity

Science.gov (United States)

Chen, Chi-Kuang; Jiang, Bernard C.; Hsu, Kuang-Yiao

2005-01-01

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…

The analysis of financial risk management application for NPP project in Indonesia

International Nuclear Information System (INIS)

Imam Bastori; Moch Djoko Birmano

2012-01-01

NPP Project is one of full dynamic, risky and challenging business. Application of financial risk management t in Nuclear Power Plant (NPP) project becomes one alternative to be considered carefully. This paper explains an analysis to make a decision in the risk management application so that it can be applied in the NPP's construction in Indonesia. As case study, is NPP of conventional PWR type of class 1150 MWe. To calculate the economics and financing of NPP is used Spreadsheet INOVASI, further the decision of financial risk management were analyzed using a Model of Cash Flow Adjustment, which developed by Richard Fairchild. The analysis showed that the Method of Cash Flow Adjustment developed by Richard Fairchild is better than the method of NPV Adjustment on a NPP project, because it have included the aspects of financial risk management. NPP project can only be executed if the NPV 2 0 and decision to execute the financial risk management should be based on NPVrm > NPV. The application of financial risk management in NPP project is not needed if an insurance premium more expensive than all costs of financial distress, unless the insurance company can give discount of at least 20%. (author)

Phases of Recognition and Management of Financial Crisis in Public Organizations.

Science.gov (United States)

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…

Analysts guide to FEEMA for financial analysis of ecosystem management activities.

Science.gov (United States)

Roger D. Fight; John T. Chmelik

1998-01-01

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...

Fiscal crisis, social security reform and vulnerable population

Directory of Open Access Journals (Sweden)

Peinado Patricia

2014-01-01

Full Text Available The aging process we are witnessing in the majority of developed countries is raising financial sustainability problems in the pay-as-you-go pension system. The reforms designed to re-establish the financial equilibrium of pension systems may put one of the most important objectives of these systems at risk: to reduce the poverty rate among the elderly. This paper studies the effects that the reforms implemented in the Spanish pension system would have on the poverty rate of the retired population. The two main novelties presented are the following. First, the collective under study is focused on the most vulnerable workers. Second, the effects of the reforms are studied taking into account the labour market situation of the individuals in the years prior to retirement.

Performance Measurement and Management Promotion through Non-Financial Measures: A Management Accounting Perspective

OpenAIRE

Eisenberg, Paul

2016-01-01

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...

PENSION FUNDS AND THE FINANCIAL CRISIS IN THE CEE COUNTRIES

OpenAIRE

Milos Marius Cristian; Milos Laura Raisa

2012-01-01

In this paper, the authors analyze the influence of the international financial crisis on the current architecture of the CEE pension systems and their further reforms. As a consequence of the financial crisis, the very fragile pension reform has been subject of debate in the new member states of European Union, given their deep recession and registered fiscal deficits. In many of the CEE countries, which have adopted/developed later the second pillar, the financial crisis has raised question...

Reforming Medicare through 'version 2.0' of accountable care.

Science.gov (United States)

Lieberman, Steven M

2013-07-01

Medicare needs fundamental reform to achieve fiscal sustainability, improve value and quality, and preserve beneficiaries' access to physicians. Physician fees will fall by one-quarter in 2014 under current law, and the dire federal budget outlook virtually precludes increasing Medicare spending. There is a growing consensus among policy makers that reforming fee-for-service payment, which has long served as the backbone of Medicare, is unavoidable. Accountable care organizations (ACOs) provide a new payment alternative but currently have limited tools to control cost growth or engage and reward beneficiaries and providers. To fundamentally reform Medicare, this article proposes an enhanced version of ACOs that would eliminate the scheduled physician fee cuts, allow fees to increase with inflation, and enhance ACOs' ability to manage care. In exchange, the proposal would require modest reductions in overall Medicare spending and require ACOs to accept increased accountability and financial risk. It would cause per beneficiary Medicare spending by 2023 to fall 4.2 percent below current Congressional Budget Office projections and help the program achieve fiscal sustainability.

Thailand - Social and Structural Review : Beyond the Crisis - Structural Reform for Stable Growth

OpenAIRE

World Bank

2000-01-01

Following the East Asian financial crisis, the Bank's involvement in Thailand intensified, enabling a multifaceted stabilization, and structural reform dialogue, which deepened the economic, financial, and sector knowledge of the country. The study benefits from this analytical work, and provides an overview on the ongoing policy dialogue, regarding short- and medium-term reform, through a...

Re(De-Forming public administration: an expert outlook on reform planning in Romania

Directory of Open Access Journals (Sweden)

Diana-Camelia IANCU

2012-08-01

Full Text Available It has been argued that the West with its well-established democracies was largely responsible for the filling of the institutional vacuum the East experienced after the fall of totalitarian regimes in the eve of the 90s. Scholars of international relations and public policies loudly debated on the existent causality between the European enlargement and the administrative reforms Central and Eastern European countries experienced in the last two decades. Be it in the form of soft or hard law, financial aid or penalties, Western norms were supposed to have been transferred to acceding countries in a rather alert tempo, and with a high(er rate of compliance success. This research builds on these arguments without yet embracing them completely and tackles the issue of Western values successful transfer to public administration reform planning in Romania. The main question it attempts to answer is to what extent substantial compliance to the European expectations for building a consolidated public administration was achieved. In doing so, it compares formal national discourses of successful public administration reform with personal experiences of Romanian public managers, four years after Romania’s accession to the European Union. Between 2005 and 2008, the Romanian Government acknowledged the need for developing a highly professional, apolitical category of civil servants later to be called “public managers”. These managers, young people that were offered Governmental grants to train themselves in Western universities, were supposed to guide national reforms from the inside of the system. Their informal role was to use their Western academic and training experiences and place them against the national background so as to plan and execute a “good” public administration reform. Was this achieved? What were the intervening factors? The interviews performed on public managers from central government organizations are placed against the

Risk Management of the English Universities after the 2008 Financial Crisis

Science.gov (United States)

Yokoyama, Keiko

2018-01-01

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…

The History and Future of Neoliberal Health Reform: Obamacare and Its Predecessors.

Science.gov (United States)

Waitzkin, Howard; Hellander, Ida

2016-10-01

The Colombian reform of 1994, through a strange historical sequence, became a model for health reform in Latin America, Europe, and the United States. Officially, the reform aimed to improve access for the uninsured and underinsured, in collaboration with the private, for-profit insurance industry. After several historical attempts at health reform adhering to the neoliberal pattern, favored by international financial institutions and multinational insurance corporations, the Affordable Care Act (ACA) similarly enhanced access by corporations to public-sector trust funds. An ideology favoring for-profit corporations in the marketplace justified these reforms through unproven claims about the efficiency of the private sector and enhanced quality of care under principles of competition and business management. The ACA maintains this historical continuity by dealing with health care as a commodity bought and sold in a marketplace, rather than a fundamental human right to be guaranteed according to principles of social solidarity. As the ACA heads toward probable failure, a space finally will open for a U.S. national health program that does not follow same historical patterns of the neoliberal model. © The Author(s) 2016.

Malaysia; Financial Sector Stability Assessment

OpenAIRE

International Monetary Fund

2013-01-01

This assessment is a review of the financial environment of Malaysia. Like many other Asian countries, Malaysia experienced financial distress in the late 1990s, but the country’s policy reforms have moved it to a successful economy. A ten-year financial plan (2001–10) by Bank Negara Malaysia restructured the financial sector. Banks were well capitalized, household debts were strengthened, and securities and insurances were developed. Malaysia thus became the global center for Islamic finance...

A Guideline for Marine Corps Financial Managers

National Research Council Canada - National Science Library

Wright, Anthone

1998-01-01

...), 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...

75 FR 20717 - Federal Housing Administration: Continuation of FHA Reform; Strengthening Risk Management Through...

Science.gov (United States)

2010-04-20

... 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...

77 FR 71035 - Financial Management Service; Proposed Collection of Information: Electronic Funds Transfer (EFT...

Science.gov (United States)

2012-11-28

... 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...

Management of Information Security in Financial Accounting

OpenAIRE

Aurel Serb; Constantin Baron; Nicoleta Magdalena Iacob; Costinela-Luminita Defta

2014-01-01

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...

Investigating the health care delivery system in Japan and reviewing the local public hospital reform

Directory of Open Access Journals (Sweden)

Zhang X

2016-03-01

Full Text Available Xing Zhang, Tatsuo Oyama National Graduate Institute for Policy Studies, Tokyo, Japan Abstract: Japan's health care system is considered one of the best health care systems in the world. Hospitals are one of the most important health care resources in Japan. As such, we investigate Japanese hospitals from various viewpoints, including their roles, ownership, regional distribution, and characteristics with respect to the number of beds, staff, doctors, and financial performance. Applying a multivariate analysis and regression model techniques, we show the functional differences between urban populated prefectures and remote ones; the equality gap among all prefectures with respect to the distribution of the number of beds, staff, and doctors; and managerial differences between private and public hospitals. We also review and evaluate the local public hospital reform executed in 2007 from various financial aspects related to the expenditure and revenue structure by comparing public and private hospitals. We show that the 2007 reform contributed to improving the financial situation of local public hospitals. Strategic differences between public and private hospitals with respect to their management and strategy to improve their financial situation are also quantitatively analyzed in detail. Finally, the remaining problems and the future strategy to further improve the Japanese health care system are described. Keywords: health care system, health care resource, public hospital, multivariate regression model, financial performance

77 FR 37959 - Financial Management Service; Proposed Collection of Information: Pools and Associations-Annual...

Science.gov (United States)

2012-06-25

... 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...

Study on Case Teaching of Financial Management

Science.gov (United States)

Che, Zhenghong; Che, Zhengmei

2011-01-01

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…

77 FR 43428 - Financial Management Service; Proposed Collection of Information: Minority Bank Deposit Program...

Science.gov (United States)

2012-07-24

... 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...

76 FR 23860 - Financial Management Service Proposed Collection of Information: Schedule of Excess Risks

Science.gov (United States)

2011-04-28

... 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...

Morocco; Financial System Stability Assessment: Update

OpenAIRE

International Monetary Fund

2008-01-01

This paper presents an update to the Financial System Stability Assessment on Morocco. Major reforms have been achieved since the 2002 Financial Sector Assessment Program (FSAP) within a policy of actively promoting economic and financial sector opening. The 2002 FSAP recommendations have been largely implemented. Although the financial system is stable and considerably more robust than in the past, the liberalization of capital flows and increased exchange rate flexibility present challenges...

What accounting leaves out of hospital financial management.

Science.gov (United States)

Boles, K E; Glenn, J K

1986-01-01

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.

Strategic Management of Financial Institutions-Survival in the 21st Century

OpenAIRE

Arshad Khan, Muhammad

2006-01-01

In this paper in attempt has been made to propose some strategic measures which are important for the survival of financial institutions in the 21st century. The study points out that liberalization and globalization offered many opportunities to financial institutions to provide wider range of financial and adviser services for their management. The study stressed that banks and NBFIs in Pakistan must used the modern communication, human resource management should be strengthen, SMEs, rural ...

The Missing Link in Housing Sector Reforms in Nigeria

Directory of Open Access Journals (Sweden)

Akintunde Otubu

2012-09-01

Full Text Available Housing is a fundamental product for every human being irrespective of financial standing. World acclaimed American psychologist, Abraham Maslow ranked shelter as second only to food in his hierarchy of human needs. Despite the importance of housing to the socio-economic development of man and the nation, housing problems have remained endemic throughout the world. In today’s world, some 100 million persons are homeless and more than a billion are inadequately housed. In 2002 housing deficit in Nigeria was put at about 8 million units. Latest statistics indicate that Nigeria requires a whopping 700,000 housing units annually for the next 15 years. The question is why this state of affairs? Why the perennial and unending problems of housing shortages, forced evictions and slum development? The paper examined these issues in Nigeria in order to advance the future prospect of the sector. The paper identified that whilst reforms were been made to all other subsector of the housing industry, land reform necessary to fast track the process was left unattended to by the government. The paper thus advocated for a robust reform of the current land management system in order to impact positively on the housing reform agenda in Nigeria.

Issues of internal control during the reform period

Directory of Open Access Journals (Sweden)

O.I. Gresova

2012-12-01

Full Text Available The paper considers theoretical and methodological problems of organization and financial control activities, the main problems and reasons causing the need for a unified system of internal financial control in the State Administration of Railway Transport of Ukraine at the stage of the reform.

THE FINANCIAL INSTRUMENTS FOR RISK MANAGEMENT ON THE INTERNATIONAL FINANCIAL MARKETS

Directory of Open Access Journals (Sweden)

Alina Hagiu

2008-05-01

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.

Analysis of Local Financial Management Transparency Based on Websites on Local Government in Java

Directory of Open Access Journals (Sweden)

Anissa Adriana

2018-03-01

Full Text Available The aim of this research is to analyze financial management transparency of local governments in Java using scoring and rating. The financial management transparency of the local governments is scored based on presentation of local financial information uploaded on each local government’s official website in Jawa in the fiscal years 2016.This research is a qualitative research with the object of research is all local government in Java. Data analysis in two levels, namely the transparency of local government financial management and identification of local government characteristics based on transparency of financial management. Data analysis in two levels, namely the transparency of local government financial management and identification of local government characteristics based on transparency of financial management. The results show that the Special Capital Region of Jakarta obtained the highest transparency index, at 58, 02% whereas Madiun Regency received the lowest transparency index, at 3, 40%. The average transparency index in Jawa for the fiscal years 2016 was still low, at only 19, 59%.The conclusion of this research is that Java regional governments consider the transparency of local financial management using less important websites because it is considered as a better thing not delivered to the public.

Financial management of the construction company

Directory of Open Access Journals (Sweden)

Antosova, Karolina

2016-12-01

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.

17 CFR 204.55 - Change in notification to Financial Management Service.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Change in notification to Financial Management Service. 204.55 Section 204.55 Commodity and Securities Exchanges SECURITIES AND... Financial Management Service. After the Commission sends FMS notification of an individual's liability for a...

Random within-herd variation in financial performance and time to financial steady-state following management changes in the dairy herd

DEFF Research Database (Denmark)

Kristensen, Erling Lundager; Østergaard, Søren; Krogh, Mogens Agerbo

2008-01-01

The manager of a dairy herd and the affiliated consultants constantly need to judge whether financial performance of the production system is satisfactory and whether financial performance relates to real (systematic) effects of changes in management. This is no easy task because the dairy herd...... is a very complex system. Thus, it is difficult to obtain empirical data that allows a valid estimation of the random (within-herd) variation in financial performance corrected for management changes. Thus, simulation seems to be the only option. This study suggests that much caution must be recommended...

Financial Management Of Student Organizations In The University Of Eastern Philippines

Directory of Open Access Journals (Sweden)

Jade Ballado Tan

2015-08-01

Full Text Available Student organizations manage their own funds and are given the autonomy and responsibility to spend these funds as the organization sees fit within the confines of university policies. A healthy financial structure is an important factor in student organization success and sustainability. Solid fiscal management creates a framework that allows organizations to work proactively to accomplish their goals and serve their communities with financially sustainable events and program. This study aimed at identifying the profile of the student organizations in terms of type registration and functions and designations of officers and advisers also identify the financial practices of student organizations in terms of managing their finances as well the problems encountered by student organizations in terms of financial management and eventually come up with a student organization financial manual. A descriptive survey research design was used and with the aid of the questionnaire data were gathered through purposive sampling technique from the 47 student leaders and advisers of the different organizations of the University of Eastern Philippines. Data gathered were analyzed through frequency mean and percentages. Findings of this study showed that almost all of the organizations have existing constitution and by-laws however in terms of the functions of officers and advisers the results revealed that some functions were not done by the officers who are suppose to do it. Generally the financial practices of the organizations were considered to be excellent especially budgeting and cash receipts but there are still important aspects that needs improvement and emphasis for a better financial management system. It was also revealed that the major concern of the organizations is the lack or absence of internal control policy manual and lack of proper turn-over of financial documents from the previous set of officers. The researchers conclude that the absence

76 FR 77590 - Financial Management Service; Proposed Collection of Information: Request for Payment of Federal...

Science.gov (United States)

2011-12-13

... 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...

Integration of financial and management accounting systems : the mediating influence of a consistent financial language on controllership effectiveness

OpenAIRE

Weißenberger, Barbara E.; Angelkort, Hendrik

2009-01-01

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...

Resisting market-inspired reform in healthcare: the role of professional subcultures in medicine.

Science.gov (United States)

Martinussen, Pål Erling; Magnussen, Jon

2011-07-01

The reorganisation efforts of the hospital sector in many Western countries in recent decades have challenged the role, identity and autonomy of medical professionals. This has led to increased focus on the role and impact of physicians who are also managers and on the unique discourse being formed through the integration of medical and managerial knowledge. Following the line of studies addressing the professional subcultures in medicine, we investigated whether assessments of health reform differ between medical doctors with managerial responsibilities and their colleagues at the clinical level as well as between those involved in direct patient care and those who are not. The analysis was performed within the context of the Norwegian hospital sector, where a major reform was implemented in 2002, and it was based on a survey of a representative sample of hospital physicians in 2006. The analysis focused on how the respondents viewed the overall effect of the reform and on the reform's effect on three central health policy goals: equity, quality and productivity. Combining data from the survey with organisational and financial data from the hospitals, we employed multilevel techniques to control for a number of individual and hospital-specific factors that could explain the physicians' views. As expected, respondents with managerial responsibilities were more positive in their evaluations of the reform, whereas respondents who spent time on direct patient-related work showed the opposite pattern. Of the hospital-specific factors of interest, the share of department managers with medical backgrounds and the economic situation positively affected the evaluations. Our findings support the view that, rather than managerialist values colonising the medical profession through a process of hybridisation, there is heterogeneity within the profession: some physician managers are adopting management values and tools, whereas others remain alienated from them. Copyright �

32 CFR 37.620 - What financial management standards do I include for nonprofit participants?

Science.gov (United States)