Full Text Available Financial information has, indisputably, an important effect in economics. To form an effective capital market, financial information must be reliable and accurate. Misleading financial information always has a negative impact on economic decision taken by users. It is known that financial information as the cornerstone of financial markets, can improve economic performance in several ways. Nowadays we are facing economic crisis due to irregularities of presentation of financial statements to users. Misunderstandings cause economic recession. Detection of fraudulent financial information, is an important issue facing the auditing profession. Currently, bankruptcy of companies around the world, leaves millions of people without jobs, this is caused by financial information which is manipulated by companies. The purpose of this paper is to analyze the effects of errors and manipulation committed in the financial information sector on the real economy. Also one of the purposes of this paper is to analyze error and fraud in financial statements how it effects the real economy and the reasons for committing fraud in financial statements. Also, several suggestions are included in this study about actions that can be taken to prevent errors and manipulation in financial information.
... Forest Service Information Collection; Financial Information Security Request Form AGENCY: Forest Service... extension with revision of a currently approved information collection, Financial Information Security... Time, Monday through Friday. SUPPLEMENTARY INFORMATION: Title: Financial Information Security Request...
... ending within the information year. (b) Consolidated financial statements. If the financial information... required in paragraph (a) of this section— (1) The audited consolidated financial statements for the filer's information year or, if the audited consolidated financial statements are not available by the...
The changing global business arena, with its abundance of financial and other information sources, has resulted in a need for information to be processed, understood and analysed by individuals who cannot necessarily make an authentic connection between the financial numbers and the real business world context.
Full Text Available Continuous improvement of the accounting information system is considering financial and accounting information, which must be true, accurate, reliable, timely presented to users, constructed so as to meet the different goals of different users.
Job Summary. The Financial Systems Information Officer provides end-user training in Ottawa and regional offices on the main financial information systems, which include Oracle Financials (Purchasing, Accounts Payable, Cash Management, General Ledger and Fixed Assets) and the expense management systems.
The audit objective was to determine whether the OASD(C31) methods for preparing FY 1996 CIM, general purpose financial statements will result in auditable and complete general purpose financial statements...
Victoria María Antonieta Martín Granados
Full Text Available The financial information is the document that the administration of a juridical entity issues to know his financial situation. The financial information is useful and confiable for the users of the financial information when this has been prepared under conditions of certainty. This certainty is provided by the administration when it establishes political and procedures of internal control, as well as the surveillance in the accomplishment of the internal control. This control incides in the financial information since it is inherent to the operative flow and extends itself in relevant information, veracious and comparable. This is important for users of the financial information, due to the fact that they take timely and objective decisions.
... Fiscal Service Financial Management Service Proposed Collection of Information; Financial Institution... the Financial Institution Agreement and Application AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as...
...; ] DEPARTMENT OF AGRICULTURE Forest Service Information Collection; Financial Information Security Request Form... Information Security Request Form. DATES: Comments must be received in writing on or before July 23, 2010 to... INFORMATION: Title: Financial Information Security Request Form. OMB Number: 0596-0204. Expiration Date of...
Thinggaard, Frank; Damkier, Jesper
as the total market-adjusted return that could be earned from investment strategies based on foreknowledge of financial statement information. It answers the question: Are investments based on financial statement information able to capture progressively less information in security returns over time......? The sample is based on non-financial companies listed on the Copenhagen Stock Exchange in the period 1984-2002. Our analyses show that all the applied accounting measures are value-relevant as investment strategies based on the information earn positive market-adjusted returns in our sample period...
... Americans'') seeks information on consumer financial products and services, financial literacy efforts, and... From the Federal Register Online via the Government Publishing Office BUREAU OF CONSUMER FINANCIAL PROTECTION Request for Information Regarding Senior Financial Exploitation AGENCY: Bureau of Consumer...
... OF TRANSPORTATION RULES OF PRACTICE RAILROAD ACQUISITION, CONTROL, MERGER, CONSOLIDATION PROJECT, TRACKAGE RIGHTS, AND LEASE PROCEDURES General Acquisition Procedures § 1180.9 Financial information. The... appearing in the third column. Additionally, if the major financial advantages to be derived from the...
... 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 Service, as part of its...
Full Text Available This survey aims at emphasizing several aspects of the recognition, measurement and presentation of information on capital assets and how they are reflected in accounting. In this respect, here is a presentation of the calculation, preparation and regulation of impairment that can affect capital assets and the way accounting entries may influence the financial status and performance of a company. Although the bookkeeping variants of asset impairment, namely the Romanian and the international ones, are different, the information reported in annual financial statements is the same and assets are shown at their fair values. The issues approached in the paper herein are vast and they open new prospects to scientific research.
Although consumers' risk-taking, supplier trust, social norms and information involvement are central to much of thought in the financial market and consumer economic literature, it is not known how the interplay between consumers' trust in supplier information, risk-taking behaviour and social...... information and their information involvement. In addition, the results indicate that the three-way interaction between trust in supplier information, products savings risk and social norm has a positive effect on information involvement. As direct implications, financial authorities and financial service...
... SPACE ADMINISTRATION Information Collection; NASA Contractor Financial Management Reports AGENCY... . SUPPLEMENTARY INFORMATION: I. Abstract The NASA Contractor Financial Management Reporting System is the basic.... Data Title: NASA Contractor Financial Management Reports. OMB Number: 2700-0003. Type of Review...
One justification for public support of higher education is that prospective students, particularly those from underprivileged groups, lack complete information about the costs and benefits of a college degree. Beyond financial considerations, students may also lack information about what they need to do academically to prepare for and successfully complete college. Yet until recently, college aid programs have typically paid little attention to students' information constraints, and the comp...
Higgins, Paul [American Meteorological Society, Washington, DC (United States)
Climate Information Needs for Financial Decision Making (Final Report) This Department of Energy workshop award (grant #DE-SC0008480) provided primary support for the American Meteorological Society’s study on climate information needs for financial decision making. The goal of this study was to help advance societal decision making by examining the implications of climate variability and change on near-term financial investments. We explored four key topics: 1) the conditions and criteria that influence returns on investment of major financial decisions, 2) the climate sensitivity of financial decisions, 3) climate information needs of financial decision makers, and 4) potential new mechanisms to promote collaboration between scientists and financial decision makers. Better understanding of these four topics will help scientists provide the most useful information and enable financial decision makers to use scientific information most effectively. As a result, this study will enable leaders in business and government to make well-informed choices that help maximize long-term economic success and social wellbeing in the United States The outcomes of the study include a workshop, which brought together leaders from the scientific and financial decision making communities, a publication of the study report, and a public briefing of the results to the policy community. In addition, we will present the results to the scientific community at the AMS Annual Meeting in February, 2014. The study results were covered well by the media including Bloomberg News and E&E News. Upon request, we also briefed the Office of Science Technology Policy (OSTP) and the Council on Environmental Quality (CEQ) on the outcomes. We presented the results to the policy community through a public briefing in December on Capitol Hill. The full report is publicly available at www.ametsoc.org/cin. Summary of Key Findings The United States invests roughly $1.5 trillion U.S. dollars (USD) in
Nora ŠTANGOVÁ; Agneša VÍGHOVÁ
Financial analysis is an essential part of the financial management of the company, as it acts as a feedback information, where the business is in different areas of the financial management, in which...
This work, now in a thoroughly revised second edition, presents the economic foundations of financial markets theory from a mathematically rigorous standpoint and offers a self-contained critical discussion based on empirical results. It is the only textbook on the subject to include more than two hundred exercises, with detailed solutions to selected exercises. Financial Markets Theory covers classical asset pricing theory in great detail, including utility theory, equilibrium theory, portfolio selection, mean-variance portfolio theory, CAPM, CCAPM, APT, and the Modigliani-Miller theorem. Starting from an analysis of the empirical evidence on the theory, the authors provide a discussion of the relevant literature, pointing out the main advances in classical asset pricing theory and the new approaches designed to address asset pricing puzzles and open problems (e.g., behavioral finance). Later chapters in the book contain more advanced material, including on the role of information in financial markets, non-c...
Koonce, Joan C.; Mimura, Yoko; Mauldin, Teresa A.; Rupured, A. Michael; Jordan, Jenny
General linear model procedures were used to investigate the association between financial behavior and sources of financial information, the association between savings and investing knowledge and financial information sources, and the association between financial behavior and savings and investing knowledge. The study participants were 253…
Oscar Banda Lefaure
Full Text Available Changes in the way of doing business that have resulted from globalization of markets have enabled countless benefits, but also a significant number of risks, that have been evident as since 2001 revelations about financial scandals around the world have occurred one after another. These unfortunate events showed the vulnerability to which investors (and other stakeholders are exposed for not having timely, clear and accurate information of the business progress in which they invest, and therefore not being able to take precautions. In addition, these business disasters have shown how the most unscrupulous executives do not hesitate to act illegally to hide their shady financial and accounting manoeuvres, in order to promote their personal benefit. Then the executive compensations policy lies behind. At this juncture, the importance of migrating to a new model of disclosure where the global financial community can take shelter of these malpractices and trust the board controls and the management stablishes has been increasing. This new model of disclosure has one of its pillars in non-financial information reports. This is not an alchemist solution, but is one of many efforts to be undertaken by companies to recover damaged trust. The international financial crisis affecting the world economy at the moment is another example of the need to give greater trust to the stakeholders –through transparency in the information they provide–. Only then, their participation in the capital market will be maintained and increased, and the costs that brings widespread lack of trust in which we live will be reduced.
Full Text Available Financial audit implies a methodology of assessment to ensure an independentopinion so that to equally protect all the users of financial information:shareholders, state, employees, banks, stock exchange, debtors, suppliers, clientsetc. Financial auditor answers to the third parties needs in relation with theconfidence degree they can grant to the financial accounting documents of thecompany.
The financial audit enables the credibility of the financial statements to be improved, from both accountants and financial information users’ standpoints. This audit is required to provide information quality control. The article is intended to submit the causes involved in the occurrence of the informational risk as well as in the ways to lower risks.
William F Steel; Ernest Aryeetey; Hemamala Hettige; Machiko Nissanke
.... It is concluded that informal financial institutions are an important vehicle for mobilizing household savings and financing small businesses, and it is recommended that informal finance be better...
... paragraphs 9-34 of Statement of Financial Accounting Standards (“SFAS”) No. 69, “Disclosures about Oil and... financial information. 229.302 Section 229.302 Commodity and Securities Exchanges SECURITIES AND EXCHANGE... 1934 AND ENERGY POLICY AND CONSERVATION ACT OF 1975-REGULATION S-K Financial Information § 229.302...
Informal financial markets play an important role in providing capital in less developed countries. This paper presents the organization of such markets and provides examples of how these markets operate concurrent with the formal financial sector. Specifically, the paper provides a case study of the informal financial ...
Full Text Available Financial analysis is an essential part of the financial management of the company, as it acts as a feedback information, where the business is in different areas of the financial management, in which areas of the company the targets have been achieved and, conversely, in which areas the business is lagging behind the expectations.
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.
Full Text Available Considering the way that the world economy has evolved over the last 30-40 years, there was a transition from a predominant real economy to a predominant financial economy. Once, there were prevalent economic crises (when the real economy was important; today, the economies all around the world face prevalent financial crises; therefore, it is extremely important to study the role of financial markets, especially the incomplete markets feature (given by the imperfect information. The paper aims to analyze the relationship between imperfect information and incomplete financial markets and the way they are affecting the financial stability.
27 9. Financial Crimes by Gender ....................................... 23 vi Introduction Financial irresponsibility is...theft and related forms of dishonesty . 7 No estimate is available of the cost to the U.S. Government from fraud or theft by its own employees. 2 After... dishonesty . Credit records contain many inaccuracies, honest people can accrue bad credit records, and people with clean credit records are not immune to
Cally Ardington; Murray Leibbrandt
This paper examines the impact of formality of employment on the utilisation of financial services, using data from the October 2000 Income and Expenditure Survey and the September 2000 Labour Force Survey. The presence of an employed member in the household is seen to be important for the utilisation of both bank accounts and funeral insurance, even after controlling for income. Furthermore there are strong links between the nature of this employment and utilisation of financial services. Em...
Full Text Available Limited access of small enterprises to reliable and well-prepared information about their condition is mentioned as one of the main barriers to small business development. One of the key types of information used in management is financial information. It concerns the resources and financial flows in the enterprise. The main goal of the paper is to present the results of the questionnaire survey conducted in mid. 2010 among managers of small enterprises in Poland. The survey was used to recognize the usefulness of financial information in decision-making, to diagnose information needs of entrepreneurs and to identify factors affecting these needs.
Delia Corina MIHALȚAN
Full Text Available Due to the crucial importance of financial information in the context of a knowledge society like ours, the present paper aims to highlight the typical aspects of the financial information system in nonprofit organizations, for the very reason that, inside it, the financial information is produced, which is so necessary to the decisional process. Starting from the hypothesis that the financial information system is influenced by the features specific of the nonprofit organizations, we have applied a methodological approach that has led us to the formulation of certain conclusions. We have studied the literature, the legislation in this domain and the practical realities of the nonprofit organizations analyzed. We concluded that the financial information system of the nonprofit organizations is structured according to the activities undertaken, the programs assumed, the type of funding, the type of target group, the budget-based activities and the presence of volunteers.
Granetto, Paul J; Peek, Marvin L; Armstrong, Jack L; Wenzel, Paul C; Furey, Kathleen A; Zimmerman, Craig W
... are: the Corps of Engineers Financial Management System, the Corps of Engineers Enterprise Management Information System, and the Defense Departmental Reporting System - Audited Financial Statements...
Full Text Available In the current context of the market economy development and evolution and development of companies’ activities it is remarked the proper development of economic and financial information. In this paper we shall present both the qualitative characteristics of the accounting information, from national and international perspective, and their classification according to Statement of Financial Accounting Standards No. 2. The need for information is covered by unpublished reports, statements, which include selective information from the financial statements. In the private sector, managers interested in the entity’s performance, turn to financial analysts, who on the basis of economic and financial indicators can give a diagnosis on the health of the entity.
... acquisition cost or current fair market value of land. (ii) Development and improvement costs (include the... account as to down payments and deposits” shall mean an account, established in accordance with local real... made financial arrangements, such as the posting of surety bonds (corporate bonds or individual notes...
Pankaj Pandey; Einar Snekkenes
For many individuals and organizations, cyber-insurance is the most practical and only way of handling a major financial impact of an information security event. However, the cyber-insurance market suffers from the problem of information asymmetry, lack of product diversity, illiquidity, high transaction cost, and so on. On the other hand, in theory, capital market-based financial instruments can provide a risk transfer mechanism with the ability to absorb the adverse impact of an information...
With the increased complexity of business and with the growing popularity of the conglomerates business forms has become clear that enhanced financial reporting can not provide users with enough information to make decisions for high yield. Therefore, segment reporting is presenting disaggregated financial information relating to the operations of reporting entities in different areas of business or in different geographical regions. Because of the perception that domestic and foreign operati...
Full Text Available The development of international financial markets, financial scandals in 2000 and the crisis in 2007 showed the need for the existence of clear simple, concise rules regarding the drafting and presentation of financial and accounting information of the companies, especially transnational ones. Amid the fact that the 2000s were shaken by issues such as accounting frauds, the question of transmitting information in the most correct, real and representative way emerged. The more the information is accurate, without being embellished in accounting terms, the more users are better informed and can make decisions knowledgeably. Also in the paper, a correlation is made between performance and information contained in financial reports, each user being interested in certain performance indicators.
de T' Serclaes, Philippine; Gasc, Emilien; Saussay, Aurelien
Governments have understood the importance of financing energy efficiency now. This realisation is exemplified through the central role occupied by energy efficiency in most stimulus packages. The purpose of this memo is to identify the impact of the financial and economic crisis on the evolution of public sector investments, energy efficiency policy development, and private sector investments. The paper will first identify trends which have emerged from the implementation of IEA government stimulus packages. Most relevant case studies are then provided along with lessons and challenges.
... Fiscal Service Financial Management Service; Proposed Collection of Information: Electronic Transfer Account (ETA) Financial Agency Agreement AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its...
Full Text Available Empirical evidence from the academic literature on capital market effects of financial information placement (i.e., recognition on the face of the primary financial statements versus disclosure in the notes to the financial statements is not straightforward. Therefore, the purpose of this paper is to contribute to the recognition versus required disclosure debate in a standard-setting context by exploring possible reasons for perceived differences between recognized and disclosed amounts. These differences, in our view, arise due to demonstrated auditors’ greater tolerance for misstatement in disclosed amounts, allowed noncompliance with disclosure requirements even in strong enforcement regimes, lesser care that preparers of financial statements devote to disclosures relative to recognized items as well as behavioural factors and differential processing costs related to the users of financial information. We believe that these arguments strengthen the case for the general preference for the recognition of financial information in the standard-setting context. The original scientific contribution of this paper is to systematically identify the reasons for the differences between recognized and disclosed amounts in financial statements. As such, this paper may provide a suitable basis for the justification of certain conceptual changes in the field of international accounting standards that are currently underway.
to be an ever increasing factor. The financial reporting has to fulfill the requirements for official fillings to the stock exchange and the capital market as well as more voluntary Internet reporting to make annual, semi-annual and even quarterly reports publicly available. This demand for extensive...... and detailed information is, however, in stark contrast to reports on the demands by leading financial analysts. In the ongoing process of improving Investor Relation policies, the companies are often meet by financial analysts looking for condensed figures and tell-all financial ratios. This paper examines...... how public traded companies choose to handle these contrasting demands by focusing on the presentation of key figures and financial ratios in the annual reports. This part of the annual report may be viewed as the common part of the different reports and fillings submitted by public traded companies...
Low, Alexander F H; Phillips, Andrew B; Ancker, Jessica S; Patel, Ashwin R; Kern, Lisa M; Kaushal, Rainu
Health information technology (HIT) is widely viewed as an important lever with which to improve the quality and efficiency of the healthcare system. However, there has long been debate about its financial effects. To characterize the existing data on the financial effects of HIT and to consider the implications for the effect of HIT on healthcare spending. Systematic literature review. We identified articles by (1) searching PubMed using the intersection of terms related to HIT applications and terms related to financial or economic effect; and (2) reviewing the reference lists of the included articles as well as additional policy articles and literature reviews. A total of 57 articles met our inclusion criteria, including 43 articles (75%) reporting financial benefits to a stakeholder associated with HIT. These included 26 articles (46%) reporting cost savings, 6 articles (11%) reporting revenue gains, and 11 articles (19%) reporting a mixture of cost savings and revenue gains. Among articles with experimental study designs, 22 of 34 (65%) reported financial benefits; and among articles explicitly measuring costs and benefits, 19 of 21 (90%) reported financial benefits. The most prevalent mechanisms were savings on administrative goods and/or personnel, savings on pharmaceuticals, and revenue gains through improved billing. Overall there is a dearth of articles on this topic, especially ones with strong study designs and financial analyses. HIT can have financial benefits, but more research is required, especially on HIT's effects under emerging delivery and payment reform efforts.
Workers' or employees' motivation is one of the key survival strategies of any corporate organization. Access to vital information on their welfare no doubt motivates employees towards commitment to corporate goals. The types of information sought by employees are many and varied. This paper examines employees' ...
... Fiscal Service Financial Management Service; Proposed Collection of Information: Accountable Official... Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial.... ADDRESSES: Direct all written comments to Financial Management Service, Records and Information Management...
... Employment and Training Administration Hartford Financial Services Group, Inc., Commercial/Actuarial/ Information Delivery Services (IDS)/Corporate & Financial Reporting Group, Hartford, CT; Notice of Affirmative... workers of Hartford Financial Services Group, Inc., Commercial/ Actuarial/Information Delivery Services...
... URBAN DEVELOPMENT Notice of Proposed Information Collection: Comment Request OSHC Financial Reporting... the Community Challenge Planning Grant Program, require the financial reporting by grantees. This... also lists the following information: Title of Proposal: OSHC Financial Reporting Form. OMB Control...
Full Text Available For many individuals and organizations, cyber-insurance is the most practical and only way of handling a major financial impact of an information security event. However, the cyber-insurance market suffers from the problem of information asymmetry, lack of product diversity, illiquidity, high transaction cost, and so on. On the other hand, in theory, capital market-based financial instruments can provide a risk transfer mechanism with the ability to absorb the adverse impact of an information security event. Thus, this article addresses the limitations in the cyber-(reinsurance markets with a set of capital market-based financial instruments. This article presents a set of information security derivatives, namely options, vanilla options, swap, and futures that can be traded at an information security prediction market. Furthermore, this article demonstrates the usefulness of information security derivatives in a given scenario and presents an evaluation of the same in comparison with cyber-insurance. In our analysis, we found that the information security derivatives can at least be a partial solution to the problems in the cyber-insurance markets. The information security derivatives can be used as an effective tool for information elicitation and aggregation, cyber risk pricing, risk hedging, and strategic decision making for information security risk management.
Full Text Available Government financial information is an important part of government information, fully reporting the operational efficiency and the place where government puts tax onto. This paper analyses the problems in Chinese government financial information disclosure and the necessity of reform in detail. It also provides several proposals for the improvement of Chinese governmental financial report and financial information disclosure system.
Government financial information is an important part of government information, fully reporting the operational efficiency and the place where government puts tax onto. This paper analyses the problems in Chinese government financial information disclosure and the necessity of reform in detail. It also provides several proposals for the improvement of Chinese governmental financial report and financial information disclosure system.
Full Text Available This study aims to analyze the effect of financial performance of local governments towards the disclosure compliance of financial information on the website, as well as the political environment as a moderating variable for the effect of the financial performance of local governments towards disclosure compliance of financial infor-mation on the website. The study was conducted at the local government in Sulawesi with the sample consisting of 53 governments. The data were analyzed by partial least square (PLS. The results showed that good financial performance of local governments can encourage disclosure compliance of financial information on the website. This study also found that the political environment cannot moderate the effect of the financial performance towards the disclosure compliance of financial information on the website. This is due to the people who are interested more in paper-based reporting. The implication of this study was to encourage related re-search as well as encouraging local governments to use website as a media for finan-cial information reporting. Gorontalo district government is local government, which has excellent financial performance with complete disclosure of financial information on the website.
In Nigeria, informal groups are invaluable in providing financial services to small operators in the agricultural sector. Some of these groups are involved in joint liability lending schemes across the country and existing literature reveal that these schemes have not been successful in achieving satisfactory levels of loan ...
Richard M. Kiai
Financial inclusion has been recognized as a poverty reduction tool, and many economies have taken it up as a national agenda. To achieve the expected levels of financial inclusion, governments have worked with financial intermediaries to reach the expected target group, the unbanked poor. As per the financial intermediation theory, the role of financial intermediaries is to minimize the information asymmetry in the financial system. To enhance financial inclusion, many countries and financia...
... Fiscal Service Financial Management Service Proposed Collection of Information: Resolution Authorizing... Collateral Agreement 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...
... Fiscal Service Financial Management Service; Proposed Collection of Information: Assignment Form 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 and respondent...
... 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 Service, as part of its...
... Fiscal Service Financial Management Service; Proposed Collection of Information: Minority Bank Deposit Program (MBDP) Certification Form for Admission AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of...
... 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 Service, as part of its continuing...
... 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 Service, as part of its...
... Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons AGENCY: Bureau... INFORMATION: I. Abstract Form BE-185, Quarterly Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons, obtains quarterly data from U.S. financial services...
... following information: Title of Proposal: Multifamily Financial Management Template. OMB Approval Number... URBAN DEVELOPMENT Notice of Submission of Proposed Information Collection to OMB; Multifamily Financial Management Template AGENCY: Office of the Chief Information Officer, HUD. ACTION: Notice. SUMMARY: The...
Zam Zuriyati Mohamad; Hatijah Mohamed Salleh; Nur Diyana Ismail; Ibrahim Tamby Chek
The purpose of this study is to determine the level of quality of Non-Financial Information disclosure in Malaysia. Non-Financial Information disclosure in this study refers to Corporate Social Responsibility disclosure, Intellectual Capital disclosure, Risk Management disclosure and Corporate Governance disclosure. This study also aims to examine the influence of quality of Non-Financial Information on firm’s profitability. It further identifies which Non Financial Information disclosure has...
Full Text Available The financial sustainability of the health systems often reveals the ability of policy makers to finance healthcare in the face of growing cost pressures, with populations ageing, new technologies and increased patient expectations for healthcare coverage and quality. Thus, the healthcare systems need to reinvent themselves by using innovative financing mechanisms coupled with electronic information and communication systems, while offering greater transparency, flexibility and choice and increasing access to the services available. The paper analyses the healthcare financing models: the national health system, the social insurance or the private insurance model so that the Romanian health care reform should preserve the best elements of its existing system while selectively adapt techniques and processes that seemed to have been successful in other countries. Moreover, the application of information and communication technologies – eHealth offers new possibilities for improving almost every aspect of healthcare, from making medical systems more powerful and responsive to providing better health information to all.
Nowadays the effects of the fraudulent and manipulated financial information have been more controversial. We should take into consideration that the financial losses caused by fraudulent or manipulated financial information are remarkable. Preventing the fraud in the financial information has been an important issue by auditors all over the world. As the American economy is the dominant economy may cause and affect the capital market mostly all over the world. In the last decade we can see t...
... function or financial integrity of the futures and swaps markets or on the risk management practices of SDs... COMMISSION 17 CFR Part 160 RIN 3038-AD13 Privacy of Consumer Financial Information; Conforming Amendments... protections for the privacy of consumer financial information and was amended by the Dodd-Frank Act to affirm...
... Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding on Certain...) regarding information reporting by foreign financial institutions (FFIs) with respect to U.S. accounts and... respect to withholding and reporting under chapter 4. If a territory financial institution is a flow...
... Proposal: Multifamily Financial Management Template. OMB Control Number, if applicable: 2502-0551... URBAN DEVELOPMENT Notice of Proposed Information Collection: Comment Request; Multifamily Financial Management Template AGENCY: Office of the Assistant Secretary for Housing, HUD. ACTION: Notice. SUMMARY: The...
breaking even before the fraud occurred. Most cases of fraud overlapped at least two fiscal periods. One, typical fraud issue found on fraudulent...incorporates horizontal and vertical analyses, as well as bankruptcy and fraud analyses. The financial assessment framework created in this study is a... fraud , determinants, financial ratios, Z-score, profitability 15. NUMBER OF PAGES 177 16. PRICE CODE 17. SECURITY CLASSIFICATION OF REPORT
Yang, ChunXia; Hu, Sen; Xia, BingYing
We investigate the process that different interactions between investors will prompt information to propagate along a differentiated path and construct a financial market model. As information spreads, increasingly investors are attracted to participate in trading, then the “herding effect” is magnified gradually, which will induce the topology of market network to change and the price to fluctuate. Especially, under different initial conditions or parameters, the peak and fat-tail property is produced and the obtained statistic values coincide with empirical results: the power-law exponents between the peak value of return probability distribution and the time scales range from 0.579 to 0.747, and the exponents between the accumulation distribution and the return on the tail are close to 3. Besides, the extent of volatility clustering in our produced price series is close to that of S&P 500 and locates between NASDAQ and HSI. All the results obtained here indicate that the continuous variation of the “herding effect” resulting from information propagation among interacting investors may be the origin of stylized facts of price fluctuations.
... Fiscal Service Financial Management Service; Proposed Collection of Information: Tax Time Card Account Pilot, Screening, Focus Groups, and Study AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its...
... Fiscal Service Financial Management Service; Proposed Collection of Information: Request for Payment of Federal Benefit by Check, EFT Waiver Form AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its...
... Fiscal Service Financial Management Service; Proposed Collection of Information: Claim Against the United States for the Proceeds of a Government Check AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of...
Mimura, Yoko; Koonce, Joan; Plunkett, Scott W.; Pleskus, Lindsey
Using cross-sectional data, we examined the financial information sources, financial knowledge, and financial practices of young adults, many of whom are first generation college students, ethnic minorities, and immigrants or children of immigrants. Participants (n = 1,249) were undergraduate students at a large regional comprehensive university.…
Burger, Robert H.; Kaufman, Paula T.; Atkinson, Amy L.
Financial management skills are necessary for responsible library management. In light of the profession's current emphasis on financial literacy, the authors posed four questions: (1) to what extent are library and information science schools providing courses in financial management for their graduates; (2) what is the quality and quantity of…
... 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 its continuing effort to reduce...
... Fiscal Service Financial Management Service; Proposed Collection of Information: Direct Deposit Sign-Up Form AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and Request for comments. SUMMARY: The Financial Management Service, as part of its continuing effort to reduce paperwork...
... Fiscal Service Financial Management Service Proposed Collection of Information: CMIA Annual Report and Direct Cost Claims AGENCY: Financial Management Service, Fiscal Service, Treasury. ACTION: Notice and request for comments. SUMMARY: The Financial Management Service, as part of its continuing effort to...
... the information collection, titled ``Financial Assistance & Social Services, 25 CFR 20.'' The... part 20 to eligible Indians when comparable financial assistance or social services either are not... application form was revised to include all Financial Assistance and Social Service components including...
... Services Offered to Servicemembers AGENCY: Bureau of Consumer Financial Protection. ACTION: Notice and..., regarding consumer protection measures relating to consumer financial products and services offered to, or... Servicemember Affairs seeks information on consumer financial products and services that are currently being...
... 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 effort to reduce paperwork and...
... information reporting by foreign financial institutions (FFIs) with respect to U.S. accounts and withholding... a U.S. financial institution that is a reporting Model 1 FFI must withhold in accordance with this...) * * * (B) A participating FFI, reporting Model 1 FFI, or U.S. financial institution agrees to fulfill all...
M.Comm. The Financial Services industry is in the throes of significant changes and challenges. Managers confronted with the metoric of the "information age" may experience a variety of emotions, ranging from excitement to suspicion or even outright scepticism. What has changed is that more and more businesses are defining their strategies in terms of information or knowledge. Today we hear and read much about "the learning organisation", "working knowledge", "knowledge networks", "busines...
... 39 Postal Service 1 2010-07-01 2010-07-01 false Information furnished to Board-financial and... U.S. POSTAL SERVICE BOARD OF GOVERNORS (ARTICLE III) § 3.6 Information furnished to Board—financial...) Balance sheet information; (4) service quality measurements; (5) productivity measurements (reflecting...
... organizational information. 1552.215-73 Section 1552.215-73 Federal Acquisition Regulations System ENVIRONMENTAL... Clauses 1552.215-73 General financial and organizational information. As prescribed in 1515.408(a)(2), insert the following provision: General Financial and Organizational Information: (AUG 1999) Offerors or...
... affecting the airline industry. In preparing financial conditions reports or status reports on a particular airline, financial and traffic data are analyzed. Briefing papers may use the same information. Pending... 26, 2012. FOR FURTHER INFORMATION CONTACT: Jeff Gorham, Office of Airline Information, RTS-42, Room...
... affecting the airline industry. In preparing financial conditions reports or status reports on a particular airline, financial and traffic data are analyzed. Briefing papers may use the same information. The... 4, 2011. FOR FURTHER INFORMATION CONTACT: Jeff Gorham, Office of Airline Information, RTS-42, Room...
... Public Housing Assessment System requires public housing agencies to submit financial information... information be submitted electronically, using generally accepted accounting principles, in a prescribed... URBAN DEVELOPMENT Notice of Submission of Proposed Information Collection to OMB; Public Housing...
... Public Housing Assessment System requires public housing agencies to submit financial information... information be submitted electronically, using generally accepted accounting principles, in a prescribed... URBAN DEVELOPMENT Notice of Submission of Proposed Information Collection to OMB; Public Housing...
..., borrowing, and protecting) identified by the Financial Literacy and Education Commission in 2010, what...-21305.pdf ). 5. How might CFPB effectively disseminate financial literacy and education resources that... lead to measurable outcomes? 7. What research in behavioral economics or other academic fields...
Full Text Available Information technology can contribute significantly to business efficiency, including also enterprise governance, through appropriate and effective use. In most cases, it is difficult to determine which technologies are relevant to business needs and the use of appropriate options is not always clear. The development of information society, characterized by integration and automatization of processes and controls, by increased operational security of systems but also increasing dependence on them, and accompanied also by increased requirements of correct and operative information creates the need for new approaches of procedures and financial systems architectures.
The current study examines individual decision making in the fi eld of personal finance. How do people arrive at a financial decision? A laboratory experiment investigates the way external information is integrated into the decision making process. The objective is to explore the link between financial literacy and information acquisition behavior. The results show that participants with low financial literacy generally try to compensate for their low decision-specific knowledge with a higher...
Ruey-Shiang Shaw; Che-Pin Cheng; Ta-Yu Fu; Chia-Wen Tsai; Dong-Cheng Yen
More and more enterprises regard Information Technology (IT) as their most valuable property and make full use of IT to maximize the performance of their business operations. As a result, enterprises are attaching more importance to coordinating their IT strategy and enterprise strategy in order to get the most from their IT investment. For the sake of better IT performance and long-term development, firms must adopt a complete strategy for IT governance. In Taiwan, most financial enterprises...
... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Article 8 Financial...
Everything was paper intensive." The CPA, which then managed the budget, conceived the Iraqi Financial Management Information System (IFMIS) as a solution...Iraqi financial management information system , it entered into a broadbased contract with BearingPoint, Inc. for that purpose. That contract had
... and advised of all current and developing economic issues affecting the airline industry. In preparing financial condition reports or status reports on a particular airline, financial and traffic data are... INFORMATION CONTACT: Jennifer Fabrizi, Office of Airline Information, RTS-42, Room E34-420, RITA, BTS, 1200...
... collection techniques or other forms of information technology; and (e) estimates of capital or start-up... Fiscal Service Proposed Collection of Information: Annual Financial Statement of Surety Companies... solicits comments concerning the Form FMS-6314 ``Annual Financial Statement of Surety Companies--Schedule F...
... financial and business information. 1845.7101-5 Section 1845.7101-5 Federal Acquisition Regulations System... 1845.7101-5 Contractor's privileged financial and business information. If a transfer of property between contractors involves disclosing costs of a proprietary nature, the contractor shall furnish unit...
... Regulations Relating to Information Reporting by Foreign Financial Institutions and Withholding on Certain Payments to Foreign Financial Institutions and Other Foreign Entities; Final Rule #0;#0;Federal Register... Internal Revenue Service 26 CFR Parts 1 and 301 RIN 1545-BK68 Regulations Relating to Information Reporting...
Goss, Ernest Preston
The objectives were to: (1) survey state-of-the-art computing architectures, tools, and technologies for implementing an Executive Information System (EIS); (2) review MSFC capabilities and efforts in developing an EIS for Shuttle Projects Office and the Payloads Project Office; (3) review management reporting requirements for the NASA Accounting and Financial Information System (NAFIS) Project in the areas of cost, schedule, and technical performance, and insure that the EIS fully supports these requirements; and (4) develop and implement a pilot concept for a NAFIS EIS. A summary of the findings of this work is presented.
Beech, A J
Market-based demand forecasting is a method of estimating future demand for a healthcare organization's services by using a broad range of data that describe the nature of demand within the organization's service area. Such data include the primary and secondary service areas, the service-area populations by various demographic groupings, discharge utilization rates, market size, and market share by service line and organizationwide. Based on observable market dynamics, strategic planners can make a variety of explicit assumptions about future trends regarding these data to develop scenarios describing potential future demand. Financial planners then can evaluate each scenario to determine its potential effect on selected financial and operational measures, such as operating margin, days cash on hand, and debt-service coverage, and develop a strategic financial plan that covers a range of contingencies.
Fan, Feng-Hua; Deng, Yanbin; Huang, Yong-Chang
We first argue about the similarity between the propagation phenomenon of negative information about potential deterioration of economic situation in group of investors and the propagation phenomenon of infectious disease in crowd Applying the negative-information-propagation-induced model built based on above argument, we investigate the relationship between the generation of financial crises and propagation effects of negative information We introduce the discrimination parameter to distinguish whether or not negative information will be propagated extensively in group of investors. We also introduce the target critical value of financial crises. By comparing the theoretically predicted ratio of the long term projected number of total investors to the total number of investors at some time as initial time with target critical value of financial crises, the model can provide real-time monitoring of whether the curve of total number of investors is progressing toward the direction of generating financial crises or running on track of financial markets safety. If at some time this ratio is computed to be less than the target critical value of financial crises, governments can take relevant measures to prevent the generation of financial crises in advance Governments' interference helps to recover the confidence of investors so that they never will again believe in negative information to continue their investment. Results from theoretical and numerical analysis show that the number of investors who hold the belief of potential deterioration of economic situation, and the number of investors who withdraw capital and depart from financial markets for avoiding business loss when governments make appropriate interference are lowered compared to that without appropriate governments' interference. The results show the effectiveness of governments in preventing financial crises from the viewpoint of the negative information-propagation-induced model, namely governments
Words are not enough to express the global financial melt-down. Is it foreclosure , bad debt, bank failure, tentacles, stock market crash, share nose-diving, investors havoc or suicide or death- trap, government inability, business failure, mortgage failure, Fannie Mae-Freddie Mac phenomenon, bait and switch game, etc; the ...
Full Text Available The classical models of portfolio selection could not be applied on a market were the efficient market hypothesis is not valid (at least in a “weak” sense. The aim of this paper is to enlighten the difficulties of portfolio construction in a financial market with institutional and structural deficiencies, like the Romanian one, and to propose an alternative approach to the problem. The main features of our analysis are: 1 an empirical test for the efficient market hypothesis in the Romanian financial market case; 2 a critical distinction between the concept of “risk” and the concept of “incertitude”; 3 the use of the individual yield/risk ratio versus the market one as a selection variable; 4 the renouncement at the use in the selection procedure of an “non-risky” asset; 5 an example of the proposed selection procedure. The output of this approach could be resumed by the thesis that, even in a situation when the financial market is affected by severe disfunctions, there is a possibility to build an “optimal” portfolio based on a yield-risk arbitrage inside an efficiency frontier and to obtain a “good” schema of an financial placement, in spite of the limited possibilities for a efficient portfolio management.
Full Text Available The classical models of portfolio selection could not be applied on a market were the efficient market hypothesis is not valid (at least in a "weak" sense. The aim of this paper is to enlighten the difficulties of portfolio construction in a financial market with institutional and structural deficiencies, like the Romanian one, and to propose an alternative approach to the problem. The main features of our analysis are: 1 an empirical test for the efficient market hypothesis in the Romanian financial market case; 2 a critical distinction between the concept of "risk" and the concept of "incertitude"; 3 the use of the individual yield/risk ratio versus the market one as a selection variable; 4 the renouncement at the use in the selection procedure of an "non-risky" asset; 5 an example of the proposed selection procedure. The output of this approach could be resumed by the thesis that, even in a situation when the financial market is affected by severe disfunctions, there is a possibility to build an "optimal" portfolio based on a yield-risk arbitrage inside an efficiency frontier and to obtain a "good" schema of an financial placement, in spite of the limited possibilities for a efficient portfolio management.
.... 5312(a)(2) that is required under this part to establish and maintain an anti-money laundering program...) Association of financial institutions means a group or organization the membership of which is comprised... financial institutions and the Federal Government. If, as a result of information shared pursuant to this...
Dan Loeffler; Jason Brandt; Todd Morgan; Greg Jones
This annotated bibliography is a synthesis of information products available to land managers in the western United States regarding economic and financial aspects of forestry-based woody biomass removal, a component of fire hazard and/or fuel reduction treatments. This publication contains over 200 forestry-based biomass papers, financial models, sources of biomass...
... record was obtained pursuant to the Right to Financial Privacy Act of 1978, 12 U.S.C. 3401 et seq., and... further a legitimate law enforcement inquiry, you may have legal rights under the Financial Privacy Act of... information which was obtained pursuant to the Right to Privacy Act of 1978, 12 U.S.C. 3401 et seq. This...
... lowers risk in the financial system, increases transparency, and promotes market integrity by, among... institution may disclose nonpublic personal information about a consumer to nonaffiliated third parties, and... and the definition of ``financial institution'' to include retail foreign exchange dealers (``RFEDs...
Full Text Available Financial markets in Lebanon are constrained by government influence, Islamic financial principles, and some barriers to foreign participation. Productivity in the Lebanese financial sector ranks below its occidental counterpart in spite the fact that regulatory, supervisory, and accounting standards are generally consistent with international norms. This paper aims to give the reasons and recommendations of the failure of applying the optimal management information system in the Lebanese Financial Sector. Our results show that the reasons include among others the systems by it selves, their functionalities, but also, companies’ strategy and human capital issues.
Full Text Available This paper disseminates the results of the development process for a financial analysis information system. The system has been subject to conceptual design using the Unified Modeling Language (UML and has been implemented in object-oriented manner using the Visual Basic .NET 2003 programming language. The classic financial analysis literature is focused on the chain-substitution method of computing the prior-year to current-year variation of linked financial ratios. We have applied this technique on the DuPont System of analysis concerning the Return on Equity ratio, by designing several structural UML diagrams depicting the breakdown and analysis of each financial ratio involved. The resulting computer application offers a flexible approach to the analytical tools: the user is required to introduce the raw data and the system provides both table-style and charted information on the output of computation. User-friendliness is also a key feature of this particular financial analysis application.
Full Text Available The remarkable progress of information technology had driven every firm to publish their financial performanceby using internet. This circumstance resulted in the high public attention in order to generate the stockreturn. In addition, financial information such as financial ratio namely DER, LEV, NPM, ROI, and ROEwere supposed to influence the firm’s performance either in positive or negative effects. This study focused onthe investigation of public attention (PA and financial information as determinants of financial performanceon four companies in Telecommunication sector, Indonesia Stock Exchange (IDX, within time period from2007 to 2012. Hereby, we pointed out that public attention and financial information considerably contributeto firm performance, in which the Pooled Least Square (EGLS with cross section and period weight wasemployed. The results showed that Public Attention (PA positively contributed towards stock return. Further,financial ratio such as debt-to-equity ratio (DER negatively influenced the return. Leverage (LEV, net profitmargin (NPM and return on investment (ROI positively related to return. However, return on equity (ROEshowed the contrary sign, in which it negatively influenced the return but was statistically insignificant. Then,we reported that the stock price (LNSP did not significantly contribute towards return (RET.
Teng, Yue; Shang, Pengjian
In this paper, a new coefficient is proposed with the objective of quantifying the level of information flow between financial time series. This transfer entropy coefficient, which provides an assessment on the multiscale information flow between measurements, is defined in terms of the transfer entropy method and the multiscale method. The implementation of this transfer entropy coefficient is illustrated with simulated time series and financial time series. Examples taken from simulated and financial data demonstrate that the dynamic mechanism of a complex system cannot be detected solely on the basis of transfer entropy of single scale.
Alla V. Kilchenko
Full Text Available The actual task of modern information society forming is a construction and introduction of the information systems in educational management. The article contains the analysis of subject domain of the informative system in the National Academy of Pedagogical Sciences of Ukraine, description of financial documents and facilities for automations of their treatment in the integrated environment of Windows SharePoint Services – Microsoft Word. The conceptual model of information is presented, it is shown, as on its basis facilities of automation of work are built with financial documents. The CRT forms of document life cycle are resulted in the information system: conceptual model of information, logical model of data, physical model of data, template, a document, eventual document with the automatic filling of indexes of financial documents.
Marshall, J.F.; Dorigan, M.P.
Not unlike natural sciences, finance has passed through stages of description and analysis and has arrived at the engineering stage. This transformation has been traumatic for some, created challenges for others, and provided a wealth of opportunities for participants in the financial services industry. This article attempts to provide a sense of the past, present, and future of financial engineering for the benefit of those new to the field. It is, in part, the uncertainty of the future that makes financial engineering such an interesting subject. Yet it is certain that issues of public policy will be raised about the role of financial engineering in the markets. Informed decisions will require an understanding of the evolution of the field, the role of technology in that evolution and knowledge of the challenges that technology poses for public policy makers. Ultimately, policy must be driven by the economic realities of the new finance embodied in the financial engineering field.
... URBAN DEVELOPMENT Notice of Submission of Proposed Information Collection to OMB; Personal Financial and Credit Statement AGENCY: Office of the Chief Information Officer, HUD. ACTION: Notice. SUMMARY: The proposed information collection requirement described below has been submitted to the Office of Management...
Cardos Vasile - Daniel
Full Text Available Research theme in this article we investigate how Romanian financial and internal auditors acquire accounting information systems knowledge and competences and how they use this knowledge to improve their activity in order to fulfill their mission as required by the professional standards. Objectives our main purpose is to establish through what type of courses Romanian financial and internal auditors acquiring accounting information systems knowledge and competences and how useful these courses are perceived by the auditors. Prior work audit professional organizations prescribed that auditors must acquire, maintain and develop their knowledge and competences. Information technology and information systems are considered to be a main knowledge component of professional development programs. The scientific literature indicates that auditors have to enhance their information systems knowledge in order to cope with the increasing complexity of the client's entities accounting information systems. We consider that our article embraces Curtis et al. (2009 call for research on how auditors obtain information systems knowledge. Methodology an electronic questionnaire was created and sent to Romanian financial and internal auditors, which were required to indicate the number of accounting information systems course they attended and how the knowledge gained improved their activity. Results We concluded that financial auditors acquire accounting information systems knowledge mainly by attending the courses organized by the Chamber of Financial Auditors of Romanian, while internal auditors by attending the course organized by the companies they are working with. Implications - The results of this study might be used by Romanian professional audit organizations in reconsidering their priorities regarding the accounting information systems knowledge and competence needs of their constituents. Originality/Contribution Our study is the first one to
Beça, Miguel Alexandre Sousa Ferro de
Dissertação apresentada na Faculdade de Ciências e Tecnologia da Universidade Nova de Lisboa para obtenção do grau de Mestre em Engenharia Electrotécnica e Computadores The current financial crisis has demonstrated that there is a need for financial accounting data in a format which can be rapidly analyzed and exchanged. The appearance of XBRL in 2000 has helped create a ‘de facto’ standard data format for the exchange of financial information. However, XBRL by itself is not capable of ens...
Full Text Available This paper tries to provide a better understanding of the relation between financial audit and information systems audit and to assess the influence the change in financial audit methodologies had on IS audit. We concluded that the COSO Internal Control – Integrated Framework was the starting point for fundamental changes in both financial and IS audit and that the Sarbanes-Oxley Act should be viewed as an enabler rather than an enforcer in establishing strong governance models. Finally, our research suggests that there is a direct causality effect between the employment of BRA (business risk audit methodologies and the growing importance of IS audit.
Full Text Available This study aims to determine the effectiveness of the Outcomes of the Quality Regional Financial Information System. The research is an explanatory survey exploration that explains the relationship between some variables. The population of this study is formed by 7 District Municipalities in North Sumatra. The sample comprises 197 respondents; the sampling process is a purposive random one. Variables used include User Literacy, Regional Information System, Role Ambiguity, Training and Local Government Finance Report. Treatment Outcomes Quality systems have a significant effect on the accuracy of Local Government Financial Statement Presentation. Role Ambiguity has no significant effect on the accuracy of Local Government Financial Statement Presentation. Training does not significantly influence the accuracy of Government Financial Statements literacy. The findings of this study provide recommendations for improvement of the performance manager in North Sumatra, which thus supporting the implementation of a good government system.
..., banking, Consumer protection, Credit, Credit unions, Foreign banking, Holding companies, National banks... and reuse of information. 1016.12 Limits on sharing account number information for marketing purposes. Subpart C--Exceptions 1016.13 Exception to opt out requirements for service providers and joint marketing...
Full Text Available This article highlights the importance of indicators (as net working capital, working capital requirements and net cash by means of which it is considered in the context of financial balances capitalization information released by the balance sheet of an entity tourist profile. Theoretical concepts presented in a logical sequence are combined with the practical example transposed Turism Covasna company. The results of the analysis are interpreted while trying to formulate solutions to the economic and financial viability of the entity.
Full Text Available The purpose of the study is to explore relationship level between accounting information and market value of firms. Ohlson approach modeling firm value as a function of reported accounting information has been used in the study. In this approach, variables explaining firm’s market value per share are book value per share and earnings per share. 2005-2011 period has been determined as the study period. Istanbul Stock Exchange (ISE-Financial Sector firms’ financial statements at the end of December have been used as explanatory variables while the price data at the end of April have been used as response variable. Findings of the study, whose analyses have been diversified on the basis of industry and year, confirm the importance of accounting information. Value relevance of accounting information has been supported empirically in the basis of ISE-Financial Index firms.
Aprea, Carmela; Sappa, Viviana
The development of a sound understanding of financial and economic crises phenomena must be considered an important goal within the scope of citizenship, economic and social science education. As with every other educational endeavour, this intention requires solid information about what informal conceptions learners hold about this specific…
Kerns, Dannie J.
The qualitative phenomenological study explored the lived experiences of financial services industry change managers to understand the genesis of low data management information system project adoption rates. The goal of the study was to find methods to improve data management information system adoption rates. The participant pool consisted of 19…
... URBAN DEVELOPMENT Notice of Proposed Information Collection: Comment Request; Personal Financial and Credit Statement AGENCY: Office of the Assistant Secretary for Housing, HUD. ACTION: Notice. SUMMARY: The proposed information collection requirement described below will be submitted to the Office of Management...
Arman Aziz Karagul; Ali Ozdemir
Information lies behind the business operations. Data acquiered during the operations tranforms to information which helps decision making about the operations of the business. Thus the quality of the information gains importance. Within this study the assessment of financial information quality in the banking sector is figured out with the aid of analytic hierarchy process. Assessing the relative importance of the attributes is important because of considering the importance of the attribute...
Full Text Available The dependence on the information technology (IT is a common feature of all modern organizations. This dependence characterizes the private and public sectors, regardless of their mission, industry, geographical location, or type of organization. In this context, a successful organization, efficiency in operation, performance and quality are essential in order to reliably support the activity, which makes it necessary for the organizations to ensure the proper and efficient use of information technology. The compliance with the applicability of the regulations and standards of IT audit can help organizations to achieve all these goals.
informed the manipulation of firms, securities, risky business, terms, prices, etc, for their benefit to the detriment of investors .... mortgages which in effect returned the lodgments to these institutions. Its over-borrowed funds to finance the .... July, Pp 405-435. James, H. (2001). The end of Globalisation: Lessons from the Great.
National Centre for Vocational Education Research (NCVER), 2016
This publication provides information on how government-funded vocational education and training (VET) in Australia is financed and where the money is spent. Government-funded VET in the 2015 reporting year is broadly defined as all activity delivered by government providers and government-funded activity delivered by community education providers…
U.S. Northern Command, Peterson AFB, Colorado. He is currently assigned to the Surgical Trauma Intensive Care Unit, as the head nurse, at Brooke...trafficking in persons protocol entered into force on 25 December 2003 and has 117 Signatories and 93 Parties. The migrant smuggling protocol entered into...Threat Finances cumulative supplements are published in order to present the most current information. USC are laws made by the U.S. Congress
... Fiscal Service Financial Management Service; Proposed Collection of Information: List of Data (A) and List of Data (B) 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...
Menezes, Luiz Leite de; Riccio, Edson Luiz
This paper analysis the relationships between the Control function and the management of the information used for financial control of the firm. The analysis were based in the fundamental concepts by which information is an instrument that supports management in the control and continuity of operations, and that managers are the main users of that information. In the process of evaluating a firm’s performance the Control function measures the contribution of each area and, as consequence, the...
Maffei, Roxana; Dunn, Kim
While the promise and enthusiasm for regional health information organizations (RHIOs) are immense, a significant issue regarding this type of health information exchange, (HIE) remains unclear: financial sustainability. As of today, there is a clear lack of concrete business models implemented in RHIOs' projects. The purpose of this study is to conduct a literature review of the current state of RHIOs adaptation and implementation of business models for successful financial sustainability, as well as evaluate existing RHIOs financial situation to determine and recommend best models for economic uphold. This literature review will be the starting point for thorough analysis and understanding of the economic factors required for RHIOs to generate a return on investment (ROI) and become self-sustainable.
Onnela, J.-P.; Kaski, K.; Kertész, J.
Networks of companies can be constructed by using return correlations. A crucial issue in this approach is to select the relevant correlations from the correlation matrix. In order to study this problem, we start from an empty graph with no edges where the vertices correspond to stocks. Then, one by one, we insert edges between the vertices according to the rank of their correlation strength, resulting in a network called asset graph. We study its properties, such as topologically different growth types, number and size of clusters and clustering coefficient. These properties, calculated from empirical data, are compared against those of a random graph. The growth of the graph can be classified according to the topological role of the newly inserted edge. We find that the type of growth which is responsible for creating cycles in the graph sets in much earlier for the empirical asset graph than for the random graph, and thus reflects the high degree of networking present in the market. We also find the number of clusters in the random graph to be one order of magnitude higher than for the asset graph. At a critical threshold, the random graph undergoes a radical change in topology related to percolation transition and forms a single giant cluster, a phenomenon which is not observed for the asset graph. Differences in mean clustering coefficient lead us to conclude that most information is contained roughly within 10% of the edges.
The project scope is to develop an advanced user interface utilizing speech and/or handwriting recognition technology that will improve the accuracy and speed of recording transactions in the dynamic environment of a foreign exchange (FX) trading floor. The project`s desired result is to improve the base technology for trader`s workstations on FX trading floors. Improved workstation effectiveness will allow vast amounts of complex information and events to be presented and analyzed, thus increasing the volume of money and other assets to be exchanged at an accelerated rate. The project scope is to develop and demonstrate technologies that advance interbank check imaging and paper check truncation. The following describes the tasks to be completed: (1) Identify the economics value case, the legal and regulatory issues, the business practices that are affected, and the effects upon settlement. (2) Familiarization with existing imaging technology. Develop requirements for image quality, security, and interoperability. Adapt existing technologies to meet requirements. (3) Define requirements for the imaging laboratory and design its architecture. Integrate and test technology from task 2 with equipment in the laboratory. (4) Develop and/or integrate and test remaining components; includes security, storage, and communications. (5) Build a prototype system and test in a laboratory. Install and run in two or more banks. Develop documentation. Conduct training. The project`s desired result is to enable a proof-of-concept trial in which multiple banks will exchange check images, exhibiting operating conditions which a check experiences as it travels through the payments/clearing system. The trial should demonstrate the adequacy of digital check images instead of paper checks.
Full Text Available Scope of the economies of countries and manner of operation in various business entities and institutions creates the amount and importance of information as a whole. Diversity of the structure of information conceives the method and the need for its distribution to those who are interested in it. Hence, the question arises - how to get to the right information? Consumers in order to create their goals and tasks group themselves and search through the pile of information and data for anything that would enable better planning and creating a more secure future. Therefore, accounting managers perceive this very accurately and carefully conceive balance reports by inserting financial data and information that form the bedrock in their future structuring. Namely, the creating of financial statements provides disclosure of accounting and financial information for certain business transactions and actions of the company in a given period.
Full Text Available Enterprises across the world are taking a hard look at their risk management practices. A number of qualitative and quantitative models and approaches are employed by risk practitioners to keep risk under check. As a norm most organizations end up choosing the more flexible, easier to deploy and customize qualitative models of risk assessment. In practice one sees that such models often call upon the practitioners to make qualitative judgments on a relative rating scale which brings in considerable room for errors, biases and subjectivity. On the other hand under the quantitative risk analysis approach, estimation of risk is connected with application of numerical measures of some kind. Medical risk management models lend themselves as ideal candidates for deriving lessons for Information Security Risk Management. We can use this considerably developed understanding of risk management from the medical field especially Survival Analysis towards handling risks that information infrastructures face. Similarly, financial risk management discipline prides itself on perhaps the most quantifiable of models in risk management. Market Risk and Credit Risk Information Security Risk Management can make risk measurement more objective and quantitative by referring to the approach of Credit Risk. During the recent financial crisis many investors and financial institutions lost money or went bankrupt respectively, because they did not apply the basic principles of risk management. Learning from the financial crisis provides some valuable lessons for information risk management.
... Determination Regarding Application for Reconsideration for the workers and former workers of Hartford Financial... Hartford-IDS Group provide business and information technology applications for corporate, regulatory, and... Officer, a mis- interpretation of facts or of the law justified reconsideration of the decision. The...
... the airline industry. In preparing financial condition reports or status reports on a particular... 104-13, the Bureau of Transportation Statistics invites the general public, industry and other... Stankus, Office of Airline Information, RTS-42, Room E36-303, RITA, BTS, 1200 New Jersey Avenue, SE...
... Bureau seeks information on how current and future partnerships or other arrangements between... future partnerships or other arrangements between institutions of higher education (including their... offered to students (e.g., financial aid disbursement accounts, student banking, prepaid cards, and credit...
... Budget a revision to the information collection, titled ``Financial Assistance & Social Services, 25 CFR... assistance or social services either are not available or not provided by State, tribal, county, local, or... and Social Service components including General Assistance, Child Assistance, Adult Care Assistance...
Chohan, Kashif Ali; Rahaman, K.M. Abdur
Financial information of a firm helps the users of the financial information to understand the financial standing of the firm. Banks as lenders to Medium Sized firms use the financial information in the credit assessment process. The availability and quality of the financial information depends on the information environment of the country. We have conducted a quantitative study where we examined 80 loan applications of the Medium Sized firms to the Big4 private banks inPakistan. We collected...
Fernando Maciel Ramos
Full Text Available The study aimed to analyze the relationship between the market risk and the quality of accounting information of Brazilian financial institutions. The variables used in the study were: (i volatility of the stock; (ii quality of information accounting index through disclosure; (iii size, profitability and debt. The survey sample consists of 55 organizations belonging to the financial segment of the BM&FBovespa. The results of multiple linear regression analysis demonstrated a significant compared to the proposed model with a power of explanation of 52.10%. The results converged to explain the study's assumption, resulting in a significant negative correlation between volatility and quality of accounting information, as well as volatility and size, and profitability. Starting from the main point, it is concluded that companies with a higher level of disclosure have lower volatility of stock returns, effecting thus cited and presumed importance attached by the market to the accounting information.
Maffei, Roxana; Burciago, Daniel; Dunn, Kim
Regional health information organizations (RHIOs) have the potential to alleviate today's health care problems by granting providers access to a supported body of clinical information for all patients in a given region. While the promise of and enthusiasm for RHIOs is immense, the issue of their financial sustainability remains unclear. It has been said that the business model supporting a regional or national health information network is as essential, if not more essential, than the technology that makes it feasible. Currently, there is a clear lack of concrete business models implemented in RHIOs' projects. This article reports the results of a literature review of the current status of the adaptation and implementation of business models by RHIOs for successful financial sustainability. Based on the review, this article also attempts to evaluate the existing financial situation of RHIOs to determine and recommend the best models of economic sustainability. Significant findings include RHIOs' present financial environment, planning, and self-sustainability methods. Future studies will be needed as RHIOs continue to grow and move toward the implementation phase of their development.
Full Text Available As Radu said (2009, pag. 91  logical approach developed by accounting, presentation of an exact image of the heritage, the financial situation and financial results, based on a rational thought, a gradual knowledge domain investigated, concepts, tools and processes that allow a better understanding of the essence of economic phenomena and processes. Theoretical framework brings together a number of concepts that are considered fundamental to regulatory or accounting systems applied at the level of the entity to have clearly specified the coordinates of the base and are able to achieve cohesion between the objective of financial statements as true and fair view, financial information and policy characteristics and estimation techniques as a form of expression towards the recognition and presentation of economic reality. The author considers, in the context of the defined system applied within the accounting entities in general, that principles, presents not only a crucial premise, as well as needed necessity in order to show an exact image of the performance and financial position of the entity.
Besides the survey used, five auditors who work in Big Four companies were interviewed, in order to highlight the way in which the profession is adapting to technological changes, especially in the case of assessing controls of information technology systems and information security. From the results of the interview it can be concluded that within the Big Four companies, there is a high level of awareness regarding the necessity of solid knowledge in the information technology field. The paper is the first to examine the perception of young and future financial auditors from Romania, regarding the impact that the information security has on audit missions.
Juan José Chable Sangeado
Full Text Available This research analyzed the role that financial information plays in the access to external financial resources for micro and small manufacturing businesses (MiSBs in Tabasco, Mexico. There of it was implemented an inquiry aimed to this type of businesses as borrowers of funds. The chi-square test led us to the conclusion that the lack of information has propitiated that the financing for the MiSBs had been mainly from informal sources. The loans mixtures obtained have not been sufficient to realise the MiSBs investment projects, this credit rationing from the bank system, has been one of the main obstacles that MiSBs have had to modernize themselves and to become more competitive. This paper is the first part of a major research upon the credit market of MiSBs in Tabasco, Mexico, which also involves the analysis of the sources of loans in this market.
... information to the Finance Board and the Office of Finance. 989.3 Section 989.3 Banks and Banking FEDERAL HOUSING FINANCE BOARD OFFICE OF FINANCE FINANCIAL STATEMENTS OF THE BANKS § 989.3 Requirement to provide financial and other information to the Finance Board and the Office of Finance. In order to facilitate the...
Full Text Available Financial accounting activities are currently influenced as many other important areas that characterize and surrounds the activities within each economic entity, the avalanche of modern information technologies, which are able to improve specific business processes and to ensure future business success. Approach analysis of the impact of new technologies on this field should be so as a starting point to identify the opportunities and the benefits they would bring to specific activities. Information and communication technologies are in use both at the individual level and at the organizational level with the flexibility of the increasingly high, using a huge volume of information that financial accounting with direct impact on all human activities. Basically, it has already made the passage to a new stage:the global network society, whose main features are digitizing and interconnectivity. In this sense, this paper has as its main objective of examining the impact of modern information technologies may have on the financial accounting domain and the identification and submission directions for their integration within organizations.
Nabil Alnaser; Osama Samih Shaban; Ziad Al-Zubi
The primary goal of corporate governance is to create a balance of power-sharing among shareholders, directors, and management to enhance shareholder value and protect the interests of other stakeholders. Effective corporate governance structure improves investor confidence, it ensures corporate accountability, enhances the reliability and quality of public financial information, and enhances the integrity and efficiency of the capital market. The study has covered 10 public companies in Jord...
Oyinlola, Olabisi Michael; Folajin, Oyetayo Oyewale; Balogun, Jimoh Oladosu
The purpose of this study is to analyse the effectiveness of Integrated Financial Management Information System (IFMIS) on performance of public sector in Nigeria. Public finance management has come under immense scrutiny by donor community as well as general public in a call for enhanced accountability of the government expenditures for an improved public service delivery. To analyse the effectiveness of identified factors on the use of the system, descriptive and inferential statistics were...
Recently the interest of researchers has shifted from the analysis of synchronous relationships of financial instruments to the analysis of more meaningful asynchronous relationships. Both types of analysis are concentrated mostly on Pearson's correlation coefficient and consequently intraday lead-lag relationships (where one of the variables in a pair is time-lagged) are also associated with them. Under the Efficient-Market Hypothesis such relationships are not possible as all information is embedded in the prices, but in real markets we find such dependencies. In this paper we analyse lead-lag relationships of financial instruments and extend known methodology by using mutual information instead of Pearson's correlation coefficient. Mutual information is not only a more general measure, sensitive to non-linear dependencies, but also can lead to a simpler procedure of statistical validation of links between financial instruments. We analyse lagged relationships using New York Stock Exchange 100 data not only on an intraday level, but also for daily stock returns, which have usually been ignored.
Granetto, Paul J; Peek, Marvin L; Armstrong, Jack L; Wenzel, Paul C; Furey, Kathleen A; Zimmerman, Craig W
.... The USACE Civil Works principal financial statements consist of a consolidated balance sheet, a consolidated statement of net cost, a consolidated statement of changes ill net position, a combined...
Ju, Brian L; Miller, Christopher P; Whang, Peter G; Grauer, Jonathan N
In recent years, greater attention has been directed toward determining how potential financial conflicts of interest may affect the integrity of biomedical research. To address this issue, various disclosure policies have been adopted in an attempt to increase the transparency of this process. However, the consistency of such reporting among spine surgeons remains unknown. This study quantifies the variability in the self-reported disclosures of individual authors presenting at multiple spine conferences during the same year. The author disclosure information published for the 2008 North American Spine Society (NASS), Cervical Spine Research Society (CSRS), and Scoliosis Research Society (SRS), conferences were compiled into a database. We evaluated the disclosure policy for each society and compared the disclosure listings of authors who presented at more than one of these meetings. Disclosure records were available for 1,231 authors at NASS, 550 at CSRS, and 642 at SRS. Of these individuals, 278 (NASS), 129 (CSRS), and 181 (SRS) presented at one of the other conferences and 40 presented at all three conferences. North American Spine Society and CSRS required disclosure of all financial relationships, whereas SRS only requested disclosures pertinent to authors' presentations. Of the 153 authors who presented at the NASS and CSRS meetings, 51% exhibited discrepancies in their disclosure information. In contrast, only 9% of the 205 individuals whose data was listed at both the NASS and SRS conferences demonstrated irregularities. Similarly, 18% of the 56 authors who had provided information to both CSRS and SRS were inconsistent in their reporting. These findings emphasize the significant variability that currently exists in the reporting of financial conflicts of interest by authors who presented at three major spine conferences within the past year. We believe these discrepancies are likely because of confusion regarding what relationships should be acknowledged
Full Text Available The quality conditioning of an accountant's job corresponds thus with the competitive level in the company. The operationalization of the used specialty language, on the one hand and on the other hand the efficient management of the financial situation acquire a significant role regarding a strategic partnership at the micro and macroeconomic level in business as long as the managerial structures of understanding the economic reality are put in correlation with the accountant's socio-professional training in the firm/concern. Even if the professional accountant is paid by a determined client, which is the final beneficiary of the development service or audit financial statements, the information drawn from these financial statements are used by those who form the public. In this way, the accounting profession is distinguished from the other profession by accepting its responsibility to the public. There are numerous studies on an international level, dealing with various methods of improving the decision making process. The most competitive multinational companies have already considered the opportunities favored by financial adjustments, directed at streamlining the accounting functions and they have also trained professionals in the field of accounting that would successfully perform as business partners, thus assisting the decision making process within the organization. The financial adjustments have become essential for many companies that have thus gained a significant competitive advantage. The plan for improving the efficiency of the financial function is very clear, but the training of the business partners who would provide assistance in making decisions still remains a challenge. The economic perspective on the account reality highlights a pragmatic materialization, at the company’s level, of some specific skills designed to support the important role that the financial situations have. So, the individual significations of the
Wang, J; Ahammad, M
This study draws upon semi-structured interviews with 23 Chinese financial analysts (Beijing, Shanghai) to examine how they improve their information comprehension through private information search and use such information to evaluate company value. Despite working in state-owned institutions, Chinese financial analysts claim that their analytical framework is similar to their counterparty in the Western setting. However, our results indicate that Chinese analyst's analytical practice is con...
... ] Program, require the financial reporting by grantees. This tracking of grantee financial data is solely in... Financial Reporting Form. OMB Approval Number: 2501-Pending. Form Numbers: None. Description of the Need for... Planning Grant Program, require the financial reporting by grantees. This tracking of grantee financial...
Full Text Available For a long period of time the analysis of company’s performance has been approached preponderant or only for financial point of view, but in the last half of century, because of an environment characterized by intensified competition, there have been elaborated and developed a number of measurement tools, the goal of which is to reflect all the factors involved in a company’s performance.The practic goal of performance measurement, the standard it refers to and the measuring tools are tightly correlated with the objectives of each of the company’s stakeholders. In order to obtain a good quantification of company’s performance is necessary to use a system of indicators that may provide reliable information for evaluating the degree to which firm’s objectives are reached. In this system, financial indicators remain, an essential tool of management, regardless the changes which affect the company’s environment.
Full Text Available For many years, business has invested significant resources in information technology, hardware, software, and manpower. The Productivity Paradox is the seeming lack of productivity gains despite the increased investment in IT. For many years the existence of a Productivity Paradox has been the subject of research interest. Conflicting results have been obtained from a variety of data sets. Until this time however there has been no study that has investigated European companies’ use of information technology and its impact on productivity. The objective of this study was to investigate information technology productivity with a new data set from a European published source, and measuring productivity using both market and financial based measures. Results of the study indicated that information technology did have a consistent positive impact on firm level productivity in Europe for the years 1996, 1997, and 1998. Both market and financial based productivity measures provided consistent positive significant returns with regard to IT productivity. The major contribution of the study is that it provides an analysis of the impact of European information technology on firm and economic productivity.
Maxwell, Sean L.; Rhodes, Jonathan R.; Runge, Michael C.; Possingham, Hugh P.; Ng, Chooi Fei; McDonald Madden, Eve
Conservation decision-makers face a trade-off between spending limited funds on direct management action, or gaining new information in an attempt to improve management performance in the future. Value-of-information analysis can help to resolve this trade-off by evaluating how much management performance could improve if new information was gained. Value-of-information analysis has been used extensively in other disciplines, but there are only a few examples where it has informed conservation planning, none of which have used it to evaluate the financial value of gaining new information. We address this gap by applying value-of-information analysis to the management of a declining koala Phascolarctos cinereuspopulation. Decision-makers responsible for managing this population face uncertainty about survival and fecundity rates, and how habitat cover affects mortality threats. The value of gaining new information about these uncertainties was calculated using a deterministic matrix model of the koala population to find the expected population growth rate if koala mortality threats were optimally managed under alternative model hypotheses, which represented the uncertainties faced by koala managers. Gaining new information about survival and fecundity rates and the effect of habitat cover on mortality threats will do little to improve koala management. Across a range of management budgets, no more than 1·7% of the budget should be spent on resolving these uncertainties. The value of information was low because optimal management decisions were not sensitive to the uncertainties we considered. Decisions were instead driven by a substantial difference in the cost efficiency of management actions. The value of information was up to forty times higher when the cost efficiencies of different koala management actions were similar. Synthesis and applications. This study evaluates the ecological and financial benefits of gaining new information to inform a conservation
Souliotis, Kyriakos; Golna, Christina; Tountas, Yannis; Siskou, Olga; Kaitelidou, Daphne; Liaropoulos, Lycourgos
Under-the-table informal payments are commonplace as reimbursements for health care services in Greece. As the country faces a severe financial crisis, the need to investigate the extent of such payments, their incidence and their impact on household income is pressing. A survey of 2,741 persons from across the country was conducted between December 2011 and February 2012. The sample was defined via a multistage selection process using a quota for municipality of residence, sex and age. The maximum error margin was 2.41% with a confidence interval of 95%. The survey reports under-the-table payments for approximately 32.4% of public hospital admissions. Private clinics, which display the bulk of out-of-pocket payments, naturally display the lowest under-the-table payments. The highest percentage of under-the-table payments in the private sector appears at visits to private practitioners and dentists (36%). Informal payments are most frequently made upon request, prior to service provision, to facilitate access to care and to reduce waiting times, and at a much lower percentage, to post-service provision, and out of gratitude. This survey reveals that, due to severe financial pressure, there is a growing unwillingness of citizens to pay informally and an increasing demand for these payments as a prerequisite for access to services or to redeem services provided. This "hidden" financial burden of at least 27% impacts negatively on the living conditions of households and is not reported as purchasing ability or cost of living.
Kusano, Claudia T; Bouldin, Erin D; Anderson, Lynda A; McGuire, Lisa C; Salvail, Florentina R; Simmons, Katrina Wynkoop; Andresen, Elena M
Given the unpaid nature of the work, informal caregiving can create a financial burden for caregivers. Little has been done to identify specific predictors of experiencing financial burden. This study investigated demographic and health factors comparing caregivers who reported having or not having financial burden. Data are derived from adult caregivers (N = 3,317) as part of the 2007 Behavioral Risk Factor Surveillance System in Hawaii, Kansas, and Washington. The adjusted odds ratios for reporting a financial burden were estimated for demographic and other risk factors. Caregivers who reported a financial burden were younger, had lower incomes, were more likely to be current smokers, have had a stroke, and rate their health as fair or poor compared to caregivers who did not report a financial burden. Caregivers who were younger (ages 18-34), resided with care recipients, spent 20-39 hours per week providing care, and reported having a disability were at a statistically significantly higher odds of reporting a financial burden. Given the current economic difficulties faced by many Americans, further insights into the perceived financial burdens experienced by informal caregivers as well as linkages to policy and programs designed to support caregivers are critical for public health professionals to address the expanding needs in states and communities. Published by Elsevier Inc.
OBJECTIVES AND RESEARCH QUESTIONS One of the objectives of using the framework of IFRS / IAS throughout the world is to facilitate more transparent comparability of the financial information presented by the companies. But do we use the IFRS principles in the same way everywhere? Does it make sense...... to prescribe some accounting practice such as references to the process or input part of producing accounting information when the alleged aim is to improve the comparability of the accounting information provided by the companies, i.e. the financial statements or the output part? DATA & METHODS From...... the global ORBIS-database, we selected all listed non-financial and non-insurance companies with a turnover in the last available financial year larger than 100 million USD, which left us with more than 18 thousand public accounts (companies) from 124 different countries from all over the world. Based...
Full Text Available In this paper we chose to present two components of the financial statements: the profit and loss account and the cash flow statement. These summary documents and different indicators calculated based on them allow us to formulate assessments on the performance and profitability on various functions and levels of the companyâ€™s activity. This paper aims to support the hypothesis that the accounting information presented in the profit and loss account and in the cash flow statement is an appropriate source for assessing company performance. The purpose of this research is to answer the question linked to the main hypothesis: Is it the profit and loss statement or the cash flow account that reflects better the performance of a business? Based on the literature of specialty studied we tried a conceptual, analytical and practical approach of the term performance, overviewing some terminological acceptations of the term performance as well as the main indicators of performance analysis on the basis of the profit and loss account and of the cash flow statement: aggregated indicators, also known as intermediary balances of administration, economic rate of return, rate of financial profitability, rate of return through cash flows, operating cash flow rate, rate of generating operating cash out of gross operating result. At the same time we had a comparative approach of the profit and loss account and cash flow statement, outlining the main advantages and disadvantages of these documents. In order to demonstrate the above theoretical assessments, we chose to analyze these indicators based on information from the financial statements of SC Sinteza SA, a company in Bihor county, listed on the Bucharest Stock Exchange.
Robinson, James C; Casalino, Lawrence P; Gillies, Robin R; Rittenhouse, Diane R; Shortell, Stephen S; Fernandes-Taylor, Sara
Physician use of clinical information technology (CIT) is important for the management of chronic illness, but has lagged behind expectations. We studied the role of health insurers' financial incentives (including pay-for-performance) and quality improvement initiatives in accelerating adoption of CIT in large physician practices. National survey of all medical groups and independent practice association (IPA) physician organizations with 20 or more physicians in the United States in 2006 to 2007. The response rate was 60.3%. Use of 19 CIT capabilities was measured. Multivariate statistical analysis of financial and organizational factors associated with adoption and use of CIT. Use of information technology varied across physician organizations, including electronic access to laboratory test results (medical groups, 49.3%; IPAs, 19.6%), alerts for potential drug interactions (medical groups, 33.9%; IPAs, 9.5%), electronic drug prescribing (medical groups, 41.9%; IPAs, 25.1%), and physician use of e-mail with patients (medical groups, 34.2%; IPAs, 29.1%). Adoption of CIT was stronger for physician organizations evaluated by external entities for pay-for-performance and public reporting purposes (P = 0.042) and for those participating in quality improvement initiatives (P quality improvement initiatives are associated with greater use of CIT by large physician practices.
Christoffel J. Hendriks
Full Text Available Background: Integrated Financial Management Information Systems (IFMIS can improve public sector management by providing real-time financial information to managers in order to enhance their decision-making capabilities. The South African Public Service is currently busy with the implementation of an IFMIS. However, the implementation of such a project has proved to be a very demanding undertaking and has not been met with resounding success.Objectives: The research was conducted in order to identify the challenges and risks that are involved in the implementation of the IFMIS in South Africa. After identification of the challenges and risks, solutions or guidelines were developed that may make the implementation more successful.Method: The methodology that was used is that of a literature study where theories were explored and used to solve a research problem. Based on the theoretical research, solutions and guidelines were developed to solve challenges and risks experienced.Results: The results indicated that there are a number of challenges involved with the implementation of an IFMIS. A set of best practice guidelines was developed that may make the implementation more successful.Conclusion: The sheer size and complexity of an IFMIS poses significant challenges and a number of risks to the implementation process. There are, however, critical success factors or best practices that can be used for the project to succeed. It is recommended that these best practices be used by the South African Public Service.
Thinggaard, Frank; Sønderby Jeppesen, Carsten; Madsen, Kasper
The preparation of disclosures in the financial report constitutes a significant cost to most companies, but do the disclosures have information content to investors? This paper examines stock market reactions to the release of note disclosures and MD&A (management discussion and analysis......) information. The study is based on data from the Danish capital market in 2006-2009 because here it is largely possible to isolate the release of such information from other information in the financial report. The primary results suggest that for some companies, note disclosures and information in the MD...
Full Text Available The quality of a manager's decision improves based on high quality financial statements, hence the need to find means to increase the quality of financial reporting, specifically to increase the quality of the assurance process. The ultimate aim is to reduce the skepticism of users of financial data and to use XBRL as Internet-based technology to enable electronic preparation and exchange of worldwide financial statements.
Hastings, Justine S; Madrian, Brigitte C; Skimmyhorn, William L
In this article we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature, and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the extent to which a competitive market provides incentives for firms to educate consumers or offer products that facilitate informed choice. We review the literature on alternative policies to improve financial outcomes, and compare the evidence to evidence on the efficacy and cost of financial education. Finally, we discuss directions for future research.
... and for the same periods for which audited consolidated financial statements are required. The... EXCHANGE COMMISSION FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933... with complete financial statements may be omitted with the exception of disclosures regarding material...
... 26 Internal Revenue 13 2010-04-01 2010-04-01 false Market discount fraction reported with other financial information with respect to REMICs and collateralized debt obligations (temporary). 1.6049-7T... TAX (CONTINUED) INCOME TAXES Information Returns § 1.6049-7T Market discount fraction reported with...
Full Text Available Competitiveness is a category which is innate in every economic subject. It shows itself in the conditions of market competition. Between competition and competitiveness objectively exist mutual relations and dependence. The presence of competition is a prerequisite for rise of competitiveness and for its manifestation in the real business. In the scientific literature, there is no synonymous definition of the nature of competitiveness. This paper represents an attempt at systematization of the views on this scientific issue. The methodology and the methods of competitiveness analysis should be based on a system of methods. The purpose of this paper is to present possibilities for use of information from the annual financial statements of the enterprises for analysis of their competitiveness by taking into consideration the legislative decisions and the specific business conditions in the Republic of Bulgaria. .
... research reactors. IV. Additional Information The Commission may, from time to time, request the applicant... questions they may have relating to the requirements of the Commission's regulations or the information set... construction cost estimates for production and utilization facilities other than nuclear power reactors will...
Full Text Available Today, accounting is a necessity and not a desire. Concerns for the improvement of accounting practices are necessary, especially in Romania, where these activities are strengthened with the progress of the Romanian economy integration into the structures of the European Union. This paper carried an objective analysis of how the web report is now being made by financial and accounting information, presents the disadvantages of this approach to reporting introduced, but the potential benefits that could be created by the rapid adoption of international standards for reporting financial information website, too. At the same time, the paper tries to create new opportunities as soon as possible regarding the adoption of intelligent technologies, which, coupled with language Web reporting financial information.
In this exploratory field study, I test the relative and incremental information content of two non-financial performance measures compared to financial performance measures for future financial performance. The proprietary database used is from the contracts of the managers of 27 responsibility
Amernic, Joel H.
Discusses a curriculum strategy based upon a hierarchy of four close readings of corporate financial reporting Web sites (described as (1) objective characteristics, (2) internet financial reporting as rhetoric, (3) metaphor and thought, and (4) deconstruction) that is proffered as part of a curriculum objective to encourage university business…
Accelerating cross-border investing activity transformed global financial markets during the latter part of the 20th century. Due to lack of trans-cultural consistency comparability in financial reporting was compromised hindering multinational investment. In light thereof there is a movement afoot among international authorities to converge…
Boone, Christophe; Van Olffen, W; van Witteloostuijn, A
We argue that team information acquisition mediates the effect of the relationship of team locus-of-control composition and leadership structure on team financial performance in a decision-making context. Hypotheses were tested on 44 teams participating in an elaborate and lengthy international
Full Text Available More than 120 countries use the International Financial Reporting Standards (IFRS and the International Accounting Standards (IAS. The Association Agreement between Ukraine and the EU obliges Ukraine to consider European convergence of accounting and reporting. Since 2012 for some entities the use of IFRS has been compulsory, but for others – voluntary. This trend coincides with the imperative necessity of the consumer cooperation of Ukraine to reform its multilevel informational system as a key component of its effective management and successful implementation of controlling. It is proposed to start reforming with the introduction of IFRS and IAS. Consumer cooperation represents cooperative sector of Ukrainian economy and is included into different international and European cooperative associations. With its historic mission to meet the needs of its members, socio-economic and cultural development of rural areas, in terms of the crisis it faces the serious problem of the systemic reforming under existing conditions through the innovative development and use of experience of economically developed countries, especially the EU.
The primary audit objective was to summarize Defense agency accounting system weaknesses and related management control program weaknesses identified during audits of defense agencies' FYs 1995 and 1996 financial data...
Laura – Maria POPESCU
Full Text Available The work aims to indicate the methods and the determining factors through which accounting information users can influence the development of financial-accounting engineering. A series of defining elements were extracted, based on a study carried out on Romanian companies, concerning the manner of approaching creativity in accounting. Financial-accounting engineering occurred as a result of the pressure exercised by the accounting information users and of the desire to justify and underlie the company’s business and results as attractively as possible. Based on the collected information, a series of elements were outlined, showing that an important determining factor determinant of financial-accounting engineering is the users’ attitude towards the accounting information. Conclusions show, to a great extent, the confirmation of the initial assumptions, and the fact that the mechanism set off by the concerned individuals through what they excessively aim for uncovers vulnerabilities, and the management therefore acts to cover the users’ need for safety, by granting special dimension to certain balance sheet items.
Information-theoretic approaches still play a minor role in financial market analysis. Nonetheless, there have been two very similar approaches evolving during the last years, one in the so-called econophysics and the other in econometrics. Both generalize the notion of GARCH processes in an information-theoretic sense and are able to capture kurtosis better than traditional models. In this article we present both approaches in a more general framework. The latter allows the derivation of a wide range of new models. We choose a third model using an entropy measure suggested by Kapur. In an application to financial market data, we find that all considered models - with similar flexibility in terms of skewness and kurtosis - lead to very similar results.
S. A. Arustamov
Full Text Available The article deals with the methodology for risks assessment of availability losses in financial information systems after changes made in them by using trees of damages. A description of damages tree generation for each identified possible event is presented that potentially can lead to the system availability loss. An example is given, illustrating the methodology application that gives the possibility to choose the optimal software testing strategy.
S. A. Arustamov; M. G. Genin
The article deals with the methodology for risks assessment of availability losses in financial information systems after changes made in them by using trees of damages. A description of damages tree generation for each identified possible event is presented that potentially can lead to the system availability loss. An example is given, illustrating the methodology application that gives the possibility to choose the optimal software testing strategy.
Orleans Silva Martins
Full Text Available This study aims to analyze the financial statements of Brazilian banks, from the perspective of liquidity risk by exploring whether the Statements of Cash Flows and Notes to these companies meet the requirements concerning the dissemination of liquidity risk demands by IFRS 7 and the principles of the Basel Committee. Additionally, we investigated whether the coefficients of box cover these companies, calculated from the DFC, show some respect to compliance with those requirements. For that, was raised a theoretical framework about liquidity and liquidity risk, and the role of DFC and Notes before the disclosure of information relating to liquidity. Accordingly, an exploratory study was conducted with the 28 companies that comprise the Banks segment of the BM&F Bovespa, through its financial statements for the year 2009. The main results indicate a low capacity of these informative statements about the situation and liquidity risk, given that only 60.71% of the requirements contained in the standards were met. Still, we conclude that the mere fact that it has good cash coverage ratios is not a necessary condition to be among the companies that meet the disclosure requirements of the situation and liquidity risk, or vice versa. Thus, even when companies have good liquidity indicators, the information required by the IASB and the BCBS has not been disclosed in its financial statements.
Josep M. Argilés
Full Text Available There is an intense debate on the convenience of moving from historical cost (HC toward the fair value (FV principle. The debate and academic research is usually concerned with financial instruments, but the IAS 41 requirement of fair valuation for biological assets brings it into the agricultural domain.This paper performs an empirical study with a sample of Spanish farms valuing biological assets at HC and a sample applying FV, finding no significant differences between both valuation methods to assess future cash flows. However, most tests reveal more predictive power of future earnings under fair valuation of biological assets, which is not explained by differences in volatility of earnings and profitability. The study also evidences the existence of flawed HC accounting practices for biological assets in agriculture, which suggests scarce information content of this valuation method in the predominant small business units existing in the agricultural sector in advanced Western countries.La evolución de la contabilidad desde el coste histórico (CH hacia el valor razonable (VR ha suscitado debates y controversias, tanto en el ámbito profesional, como en el académico. Si bien el debate y los estudios se han referido principalmente a los instrumentos financieros, el requerimiento de la NIC41 de valorar los activos biológicos al VR ha ampliado el debate a la contabilidad agrícola.Este trabajo realiza un estudio empírico mediante una muestra de explotaciones agrícolas españolas que valoran sus activos biológicos al CH y otra que valoran al VR, para comparar el poder predictivo de ambos criterios de valoración. No se encuentran diferencias significativas entre ambos criterios para la predicción de los futuros flujos de tesorería. No obstante, la mayor parte de los tests realizados revelan un mayor poder predictivo de los futuros resultados contables bajo el valor razonable, que no se explica en función de diferencias en la
J. Chen (Jinghui); M. Kobayashi (Masahito); M.J. McAleer (Michael)
textabstractThe paper considers the problem as to whether financial returns have a common volatility process in the framework of stochastic volatility models that were suggested by Harvey et al. (1994). We propose a stochastic volatility version of the ARCH test proposed by Engle and Susmel (1993),
CAUSE, Boulder, CO.
Seven papers from the 1988 CAUSE conference's Track III, Financial Impact and Considerations, are presented. They include: "Providing Applications Development Services in a Competitive Environment" (Donald E. Heller and Mary Ellen Bushnell); "The Cost of Not Staying Current" (Jack T. Tinsley and Betty R. Nyer); "Project…
Dener, Cem; Dorotinsky, William Leslie
Since 1984, the World Bank has financed 87 Financial Management Information System (FMIS) projects in 51 countries totaling over US 2.2 billion, of which US 938 million was for FMIS related information and communication technology (ICT) solutions. This study presents the World Bank?s experience with these investment operations to share the achievements and challenges observed, and provide guidance for improving the performance of future projects. The report is structured according to four overarching questions:?What historical patterns emerge from World Bank financed Treasury/FMIS projects?Thi
Cardoso, Ricardo Lopes; Leite, Rodrigo de Oliveira; de Aquino, Andr? Carlos Busanelli
Previous researches support that graphs are relevant decision aids to tasks related to the interpretation of numerical information. Moreover, literature shows that different types of graphical information can help or harm the accuracy on decision making of accountants and financial analysts. We conducted a 4?2 mixed-design experiment to examine the effects of numerical information disclosure on financial analysts? accuracy, and investigated the role of overconfidence in decision making. Resul...
Full Text Available In this paper Chebyshev polynomial functions based locally recurrent neuro-fuzzy information system is presented for the prediction and analysis of financial and electrical energy market data. The normally used TSK-type feedforward fuzzy neural network is unable to take the full advantage of the use of the linear fuzzy rule base in accurate input–output mapping and hence the consequent part of the rule base is made nonlinear using polynomial or arithmetic basis functions. Further the Chebyshev polynomial functions provide an expanded nonlinear transformation to the input space thereby increasing its dimension for capturing the nonlinearities and chaotic variations in financial or energy market data streams. Also the locally recurrent neuro-fuzzy information system (LRNFIS includes feedback loops both at the firing strength layer and the output layer to allow signal flow both in forward and backward directions, thereby making the LRNFIS mimic a dynamic system that provides fast convergence and accuracy in predicting time series fluctuations. Instead of using forward and backward least mean square (FBLMS learning algorithm, an improved Firefly-Harmony search (IFFHS learning algorithm is used to estimate the parameters of the consequent part and feedback loop parameters for better stability and convergence. Several real world financial and energy market time series databases are used for performance validation of the proposed LRNFIS model.
Full Text Available Starting with the ’70, environmental accounting was prone to debates within the scientific community. During the different stages in the environment accounting evolution, the development of this concept took place around the 90’s as an answer to the limitations of traditional accounting, like the lack of an adequate treatment for the internalization of environment externalities and poor allocation of environment protection costs. All these have led to accounting evolution through integration of social and environmental dimensions in the financial system and management of an enterprise. Instruments of environmental management accounting developed by practitioners and theorists in the field, are, for most an adaptation of the traditional methods used by management accounting. These instruments cover cost control, financial analysis and performance evaluation.
Schaeken Willemaers, Gaëtane
L’autorité de surveillance des marchés financiers belge (la ‘FSMA’) a récemment multiplié les initiatives pour la protection des ‘consommateurs financiers’. Elle a contribué à l’élaboration des règles légales nouvelles en cette matière, et a également émis des règlements, avertissements, circulaires et autres communications dans ce cadre. Une question mérite cependant d’être posée: cet activisme va-t-il à l’encontre de la sécurité juridique, de la compétitivité du secteur financier belge, et,...
This paper examines the ability of financial advice provided by sellers of financial services to substitute for financial literacy of customers. I set up a simple theoretical model in which an informed financial advisor communicates with a less informed customer of financial services. Given the existence of a conflict of interest from the advisor's perspective, the model predicts that only well financially sophisticated customers receive relevant information from the advisor. This fact tends ...
Full Text Available This article starts from the critical review of the concept of financial capital. I consider it is necessary not to confuse this category with of financialization, which has acquired a certificate of naturalization from the rise of neoliberalism. Although financial monopoly-financial capital is the hegemonic segment of the bourgeoisie in the major capitalist countries, their dominance does not imply, a fortiori, financialization of economic activity, since it depends of the conditions of the process reproduction of capital. The emergence of joint stock companies modified the formation of the average rate of profit. The "promoter profit" becomes one of the main forms of income of monopoly-financial capital. It is postulated that financial profit is a kind of "extraordinary surplus-value" which is appropriated by monopoly-financial capital by means of the monopolistic control it exerts on the issue and circulation of fictitious capital.
Marco Antonio Figueiredo Milani Filho
Full Text Available Benford's Law (BL is a logarithmic distribution which is useful to detect abnormal patterns of digits in number sets. It is often used as a primary data auditing method for detecting traces of errors, illegal practices or undesired occurrences, such as fraud and earning management. In this descriptive study, I analyzed the financial information (revenue and expenditure of the registered charitable hospitals located in Ontario and Quebec, which have the majority (71.4% of these organizations within Canada. The aim of this study was to verify the reliability of the financial data of the respective hospitals, using the probability distribution predicted by Benford’s Law as a proxy of reliability. The sample was composed by 1,334 observations related to 339 entities operating in the tax year 2009 and 328 entities in 2010, gathered from the Canada Revenue Agency’s database. To analyze the discrepancies between the actual and expected frequencies of the significant-digit, two statistics were calculated: Z-test and Pearson’s chi-square test. The results show that, with a confidence level of 95%, the data set of the organizations located in Ontario and Quebec have similar distribution to the BL, suggesting that, in a preliminary analysis, their financial data are free from bias.
... Information and Its Proposed Use The Public Housing Assessment System requires public housing agencies to... programs requires that this information be submitted electronically, using generally accepted accounting... URBAN DEVELOPMENT Notice of Submission of Proposed Information Collection to OMB; Public Housing...
Sulaberidze, Lela; Green, Stuart; Chikovani, Ivdity; Uchaneishvili, Maia; Gotsadze, George
Whilst there is recognition that the global burden of disease associated with mental health disorders is significant, the economic resources available, especially in Low and Middle Income Countries, are particularly scarce. Identifying the economic (system) and financial (individual) barriers to delivering mental health services and assessing the opportunities for reform can support the development of strategies for change. A mixed methods study was developed, which engaged with a range of stakeholders from mental health services, including key informants, service managers, healthcare professional and patients and their care-takers. Data generated from interviews and focus groups were analysed using an existing framework that outlines a range of economic and financial barriers to improving mental health practice. In addition, the study utilised health financing and programmatic data. The analysis identified a variety of local economic barriers, including: the inhibition of the diversification of the mental health workforce and services due to inflexible resources; the variable and limited provision of services across the country; and the absence of mechanisms to assess the delivery and quality of existing services. The main financial barriers identified were related to out-of pocket payments for purchasing high quality medications and transportation to access mental health services. Whilst scarcity of financial resources exists in Georgia, as in many other countries, there are clear opportunities to improve the effectiveness of the current mental health programme. Addressing system-wide barriers could enable the delivery of services that aim to meet the needs of patients. The use of existing data to assess the implementation of the mental health programme offers opportunities to benchmark and improve services and to support the appropriate commissioning and reconfiguration of services.
The paper concerns measuring and reporting of financial performance of an enterprise from external user’s point of view. Basic approach of the paper is the analysis of the Income Statement as amended by US GAAP. If it is appropriate wording of US GAAP is enriched by requirement of IAS/IFRS. The paper comes from following premise: Advanced accounting systems of the world could be rich sources of inspiration that would help to improve the Czech accounting legislation, the Czech accounting stand...
Full Text Available More than 120 countries use the International Financial Reporting Standards (IFRS and the International Accounting Standards (IAS. The Association Agreement between Ukraine and the EU obliges Ukraine to European convergence of accounting. Since 2012, for some entities it has been introduced compulsory, but for others - is that self-application of IFRS and INBO. This trend coincides with the imperative necessity of the consumer cooperation of Ukraine to reform its information system as a key component of its effective management and successful implementation of the controlling. It is proposed to start reforming with the introduction of MSFS and IAS.
Dragu Ioana - Maria
Full Text Available This paper concentrates on information disclosure regarding IAS 23, being included in accounting research field. It comprises an empirical study on the correlation between information published by companies in consolidated financial statements with respect to borrowing cost policies and a series of variables that characterize a firm. The objectives of this paper involve estimating and establishing an econometric model in which is assumed that disclosure index for information required by IAS 23 depends on certain elements in the form of country of origin, sales, total assets, debt ratio, ROA and ROE. International accounting literature presents a series of studies on the subject of compliance with IAS disclosure requirements. Similar with this paper, various authors considered annual reports as starting point for data gathering in their reasearch on disclosure phenomena. The criteria used for data gathering, processing and analysing have been previously used in a successful manner by important scientists who published in accounting field. The methodology used involves Disclosure Index computation, as well as SPSS data processing, analysis and interpretation of results. Results show that the model is valid, meaning that there is correlation between information disclosure with respect to IAS 23 and the analyzed variables. According to our estimated econometric model, most of the variables maintain a certain influence on disclosure as we can observe a significant correlation level between the studied elements. This research contributes to the development of both accounting field and international accounting literature, by studying borrowing costs disclosed information in relation to certain elements that best characterize the activity of a company. Although an empirical paper, it concentrates also on accounting practices, as it uses real data extracted from annual reports and consolidated financial statements. The importance of this research relies
Willner, P; Bailey, R; Parry, R; Dymond, S
An assessment of mental capacity includes an evaluation of the ability to 'weigh up' information, but how to do this is uncertain. We have previously used a laboratory decision-making task, temporal discounting, which involves a trade-off between the value and the delay of expected rewards. Participants with intellectual disabilities (ID) showed very little evidence of 'weighing up' of information: only a third of participants showed consistent temporal discounting performance, and when present, consistent performance was usually impulsive; and the ability to perform consistently was more strongly related to executive functioning than to IQ. The aim of the present study was to replicate these observations and extend them to a more realistic financial decision-making task. We administered a temporal discounting task and a financial decision-making task, as well as tests of executive functioning and IQ, to 20 participants who attended day services for people with learning disabilities (mean Full-Scale IQ = 59), and to 10 staff members. Performance in both decision-making tasks was related more strongly to executive functioning than to IQ. In both tasks, decisions by service users were made largely on the basis of a single item of information: there was very little evidence in either task that information from two sources was being 'weighed'. The results suggest that difficulty in 'weighing up' information may be a general problem for people with ID, pointing to a need for psycho-educational remediation strategies to address this issue. The importance of executive functioning in decision-making by people with ID is not recognized in the legal test for mental capacity, which in practice includes a possibly irrelevant IQ criterion.
AlHazme, Raed H; Haque, Syed S; Wiggin, Hal; Rana, Arif M
To evaluate whether or not the utilization of Health Information Technologies (HITs) in Quality Improvement Methodologies (QIMs) has impacts on QIMs' efficiency, throughput and financial outcomes at healthcare organizations and physician practices in the United States. This is a retrospective observational study that was conducted between the years of 2014 and 2015 and relied on two data sources: the Dorenfest Institute dataset and the Healthcare Information and Management Systems Society (HIMSS) Analytics data source. In addition, questionnaires were submitted to collect data about how healthcare settings in the United States had been utilizing QIMs in the last 10 years. The submitted questionnaire invitations yielded 144 responses from 134 hospitals and 10 physician practices. Descriptive statistics were used to assess the condition of the data. This involved the utilization of Box-Whisker plots to visualize the data shape, outliers and variation. The Gamma correlation analysis method was used to evaluate the statistical relationships between the QIM outcomes, efficiency, throughput and financial outcomes, and the employment of HIT systems in QIMs. The study found that 99.3% of the healthcare organizations and physician practices had implemented at least one QIM over the last 10 years. In the QIM implementations, the total numbers of reported utilization instances of manual data collection, electronic health records, lab information systems, pharmacy information systems, computerized provider order entry and radiology information systems were 387, 352, 205, 185, 180 and 158, respectively. Based on a 95% confidence limit, the Gamma statistical test has shown an inverse correlation between the exclusive utilization of manual data collection and the overall QIM efficiency (p = 0.047, Gamma = -0.388) and throughput (p = 0.012, Gamma = -0.593) outcomes. However, the overall QIM financial outcomes were found to have a statistically insignificant
Quax, Rick; Kandhai, Drona; Sloot, Peter M. A.
In financial markets, participants locally optimize their profit which can result in a globally unstable state leading to a catastrophic change. The largest crash in the past decades is the bankruptcy of Lehman Brothers which was followed by a trust-based crisis between banks due to high-risk trading in complex products. We introduce information dissipation length (IDL) as a leading indicator of global instability of dynamical systems based on the transmission of Shannon information, and apply it to the time series of USD and EUR interest rate swaps (IRS). We find in both markets that the IDL steadily increases toward the bankruptcy, then peaks at the time of bankruptcy, and decreases afterwards. Previously introduced indicators such as `critical slowing down' do not provide a clear leading indicator. Our results suggest that the IDL may be used as an early-warning signal for critical transitions even in the absence of a predictive model.
Tarapanoff, Kira; Miranda, Silvania V
.... Three dimensions are examine: cognitive, affective and situational. The recognition of an information need was linked to the development of competencies to analyse the problem in focus. Methodology...
... proposed information collection from James Caton, Managing Director, Economics and Industry Analysis... . (1) The person or entity providing the listing service is compensated solely by means of subscription...
Weyer-Wendl, Hannah; Walter, Peter
The purpose of this research is to quantify the cost burden, care times and the impact on the quality of life (QoL) of informal caring relatives caring for patients with wet age-related macular degeneration (wet AMD). Moreover we investigated the impact of care times on the QoL. Through a specifically designed questionnaire, 150 caring relatives were interviewed retrospectively on all accrued financial costs, caring times incurred and the current QoL, assessed by a Visual Analogue Scale for happiness (VAS). The caring time incurred was on average 6.4 ± 8.5 (mean +/- SD) hours per week. The QoL was on average rated at 6.7 ± 1.9 on a ten point scale. Financial strain was incurred by the direct non-medical costs of on average € 405 ± 1104 and the direct medical costs of on average € 134 ± 340 per year. Indirect costs were stated by two caregivers as amounting to € 2400 and € 6000 net income loss per year respectively. Caregivers of privately insured patients with wet AMD carried a financial cost burden which was up to six times higher than caregivers of patients who were on state insurance while showing the same visual acuity. The evaluation shows that caregivers of privately insured patients with wet AMD have higher costs than caregivers of patients with state insurance coverage. This burden seems to be a factor to be considered independently since it does not appear to have any relation to patients AMD acuity.
... of the information collection instrument and instructions should be directed to William Chappell, (301) 713-2337 or william[email protected] . SUPPLEMENTARY INFORMATION: I. Abstract The Magnuson... Regional Fishery Management Councils to exercise sound judgment in the stewardship of fishery ] resources...
In this study the problem examined was a lack of research based information on the degree to which incentives can be used to encourage consumers to volunteer private information. The purpose of this study was to determine if monetary incentives would be a beneficial means to increase consumers' involvement in eCommerce and thereby boost the growth…
... an electronic database for more detailed analysis. Computer-assisted analysis of this information helps PBGC to anticipate possible major demands on the/pension insurance system and to focus PBGC resources on situations that pose the greatest risk to the system. Because other sources of information are...
... informed as to all current and developing economic issues affecting the airline industry. In preparing... Transportation Statistics invites the general public, industry and other governmental parties to comment on the... Airline Information, RTS-42, Room E36-303, RITA, BTS, 1200 New Jersey Avenue, SE., Washington, DC 20590...
... MLAT (entitled ``Identification of Bank Information'') obligates a requested Signatory State to search... 103.11(c). For purposes of the RFA, both banks and credit unions are considered small entities if they... the relevant Bank Secrecy Act (``BSA'') information sharing rules to allow certain foreign law...
Chen, J. S.; Tsou, H. T.
Background: The importance of information technology to current business practices has long drawn the attention of practitioners and academicians. Aim: This paper aims to broaden understanding about service innovation as a critical organizational capability through which information technology adoption influences the competitive advantage of a…
Increasingly, organizations find that they need to integrate large number of information systems in order to support enterprise-wide business initiatives such as e-business, supply chain management and customer relationship management. To date, organizations have largely tended to address information systems (IS) integration in an ad-hoc manner.…
In light of the new healthcare regulations, hospitals are increasingly reevaluating their IT integration strategies to meet expanded healthcare information exchange requirements. Nevertheless, hospital executives do not have all the information they need to differentiate between the available strategies and recognize what may better fit their…
DeMuro, Paul R; Ash, Joan; Middleton, Blackford; Fletcher, Justin; Madison, Cecelia J
Little research has been conducted about the quality, benefits, costs, and financial considerations associated with health information technology (HIT), particularly informatics technologies, such as e-prescribing, from the perspective of all its stakeholders. This research effort sought to identify the stakeholders involved in e-prescribing and to identify and rank-order the positives and the negatives from the perspective of the stakeholders to create a framework to assist in the development of incentives and payment mechanisms which result in better managed care. The Delphi method was employed by enlisting a panel of experts. They were presented with the results of initial research in an online survey of questions which sought to prioritize the quality, benefit, cost, and financial effects of e-prescribing from the perspective of each stakeholder. From the results of this study, a framework was presented to framework experts. The experts added stakeholders and positives and negatives to the initial lists and rank-ordered the positives and negatives of e-prescribing from the perspective of each stakeholder. The aggregate results were summarized by category of stakeholder. The framework experts evaluated the framework. Positives and negatives can be rank-ordered from the perspective of each stakeholder. A useful framework was created.
Zinaida P. Arharova
Full Text Available In this article the main questions of preparation of ﬁnancial information (IFRS 1 areconsidered. In this text the main requirements of users to accounting (ﬁnancial information are expressed. The principlesof preparation and drawing up ﬁnancial statements aren’t standards, it is possibleto divide them in three main groups. In article each of these groups are considered.
Irina P. Kurochkina
Full Text Available The article explores the possibility of using foreign innovative methods to assess the reliabilityof information consolidated ﬁ nancial statements of Russian companies. Recommendations aremade under their adaptation and applicationinto commercial organizations. Banish methodindicators are implemented in one of the world’s largest vertically integrated steel and miningcompanies. Audit ﬁrms are proposed to usemethods of assessing the reliability of information in the practical application of ISA.
Karaa, Ibrahim E.; Kugu, Tayfun D.
The purposes of the paper are, first, to investigate financial literacy in university students and to determine the relationship between basic and advanced financial literacy; second, to present a positive association between social media usage and financial literacy; third, to examine demographic factors consistent with previous studies; and,…
Järvinen, Tuukka; Myllymäki, Emma-Riikka; Sormunen, Nina
of going-concern modification significantly increases the attention to the audit report, and especially when it is signed by a Big4 auditor. Moreover, the information most explicitly mentioned in the going-concern paragraph is accessed quickly, indicating an attention directing effect of going......-concern paragraph, and this effect is the most evident when the audit report is signed by a Big4 auditor. Finally, the analyses of this study provide evidence on extensive versus superficial information search, which depends on the source credibility in addition to the presence of the going-concern modification...
Turner, John D.
This essay looks at the bidirectional relationship between financial history and financial economics. It begins by giving a brief history of financial economics by outlining the main topics of interest to financial economists. It then documents and explains the increasing influence of financial economics upon financial history, and warns of the dangers of applying financial economics unthinkingly to the study of financial history. The essay proceeds to highlight the many insights that financi...
..., the date and type of each such transaction; and (C) Any Social Security number, taxpayer... organization about which the law enforcement agency is seeking information is engaged in, or is reasonably... specific identifiers, such as date of birth, address, and social security number, that would permit a...
Mieszczak, Gina L.
Organizations depend extensively on Information Technology professionals to drive and deliver technology solutions quickly, efficiently, and effectively to achieve business goals and profitability. It has been demonstrated that professionals with experience specific to the company are valuable assets, and their departure puts technology projects…
... 21 Food and Drugs 1 2010-04-01 2010-04-01 false Indexing trade secrets and confidential commercial... OF HEALTH AND HUMAN SERVICES GENERAL PUBLIC INFORMATION Procedures and Fees § 20.55 Indexing trade... itemization and indexing of the records. If the affected person fails to intervene to defend the exempt status...
... describes the nature of the information collection and its expected cost and burden; it includes the actual... OMB Desk Officer, OMB Human Resources and Housing Branch, New Executive Office Building, Room 10235... Assistance Program, which provides assistance by reducing losses incident to the disposal of homes when...
... required by the Paperwork Reduction Act of 1995, 44 U.S.C. 3507. Today, the Office of Thrift Supervision... Due and Nonaccrual, Schedule LD--Loan Data, Schedule CC--Consolidated Commitments and Contingencies... information needs. OTS recognizes that the TFR imposes reporting requirements, which are a component of the...
... required by the Paperwork Reduction Act of 1995, 44 U.S.C. 3507. Today, the Office of Thrift Supervision... Due and Nonaccrual, Schedule LD--Loan Data, Schedule CC--Consolidated Commitments and Contingencies... March 2010. Since the beginning of 2010 OTS has evaluated its ongoing information needs. OTS recognizes...
... From the Federal Register Online via the Government Publishing Office COMMODITY FUTURES TRADING... Outreach develops campaigns to change consumer behaviors, so that consumers can better avoid fraud as... involves utilizing government and non-profit agency distribution methods to provide anti-fraud information...
... device that is used for the making, preparing, compounding, or processing of trade commodities and that can be said to be the end product of either innovation or substantial effort. There must be a direct... attorney-client privilege or the work product privilege. Information may be privileged for this purpose...
Riccardo Calcagno; Chiara Monticone
The low level of financial literacy in many countries suggests that households are at risk of sub-optimal financial decisions. In this paper we assess to what extent financial advisors can substitute for such a lack of knowledge, by analyzing the effect of investors’ financial literacy on their decision about how much to rely on financial advisors. We model the strategic interaction between poorly informed investors and perfectly informed advisors facing conflicts of interest. We find that mo...
Josep M. Argilés
This paper performs an empirical study with a sample of Spanish farms valuing biological assets at HC and a sample applying FV, finding no significant differences between both valuation methods to assess future cash flows. However, most tests reveal more predictive power of future earnings under fair valuation of biological assets, which is not explained by differences in volatility of earnings and profitability. The study also evidences the existence of flawed HC accounting practices for biological assets in agriculture, which suggests scarce information content of this valuation method in the predominant small business units existing in the agricultural sector in advanced Western countries.
language, globalization of finance is evident as the integration of the financial systems of many countries of the world. On the other hand, financial crisis describes ..... Berger, A. N (2000) “ The Ability of Banks to Lend to Informationally Opaque Small. Business” FRB Chicago Working Paper Series. Bossone, B.; Honohan, P.
... COMMISSION Inaugural Roundtable of the Financial Reporting Series Entitled ``Uncertainty in Financial... publicly. SUPPLEMENTARY INFORMATION: This will be the inaugural roundtable of the Financial Reporting Series. The Financial Reporting Series was instituted by SEC staff to assist in the proactive...
Peter J. Morgan; Victor Pontines
Developing economies are seeking to promote financial inclusion, i.e., greater access to financial services for low-income households and firms, as part of their overall strategies for economic and financial development. This raises the question of whether financial stability and financial inclusion are, broadly speaking, substitutes or complements. In other words, does the move toward greater financial inclusion tend to increase or decrease financial stability? A number of studies have sugge...
Wood, R; Grant, I; Bain, M
To ensure that decisions on the future planning of the Scottish Home Oxygen Service reflect population needs by examining the epidemiology of the main conditions that require home oxygen therapy and trends in their management. Analysis of routinely available vital event and health service data supplemented by published literature. Use of linked data to provide person-based analyses. Consideration of trends in key risk factors, disease incidence, prevalence and mortality for chronic neonatal lung disease, cystic fibrosis, chronic interstitial lung disease in adults and chronic obstructive pulmonary disease. Examination of trends in management of these conditions including hospital admissions, length of stay and re-admissions. The prevalence of all the conditions studied has increased in Scotland over recent years due to a combination of increased incidence, increased survival, more active case finding and demographic changes. There have been changes in management with trends towards shorter hospital stays. The clinical need for home oxygen therapy is likely to continue to increase over the next 10-20 years. It will encompass all age groups and a complex range of conditions. Public health needs to be proactive in providing relevant needs assessment information to ensure that planning within financial constraints is appropriately informed on population needs. Crown Copyright © 2012. Published by Elsevier Ltd. All rights reserved.
Cardoso, Ricardo Lopes; Leite, Rodrigo Oliveira; de Aquino, André Carlos Busanelli
Previous researches support that graphs are relevant decision aids to tasks related to the interpretation of numerical information. Moreover, literature shows that different types of graphical information can help or harm the accuracy on decision making of accountants and financial analysts. We conducted a 4×2 mixed-design experiment to examine the effects of numerical information disclosure on financial analysts' accuracy, and investigated the role of overconfidence in decision making. Results show that compared to text, column graph enhanced accuracy on decision making, followed by line graphs. No difference was found between table and textual disclosure. Overconfidence harmed accuracy, and both genders behaved overconfidently. Additionally, the type of disclosure (text, table, line graph and column graph) did not affect the overconfidence of individuals, providing evidence that overconfidence is a personal trait. This study makes three contributions. First, it provides evidence from a larger sample size (295) of financial analysts instead of a smaller sample size of students that graphs are relevant decision aids to tasks related to the interpretation of numerical information. Second, it uses the text as a baseline comparison to test how different ways of information disclosure (line and column graphs, and tables) can enhance understandability of information. Third, it brings an internal factor to this process: overconfidence, a personal trait that harms the decision-making process of individuals. At the end of this paper several research paths are highlighted to further study the effect of internal factors (personal traits) on financial analysts' accuracy on decision making regarding numerical information presented in a graphical form. In addition, we offer suggestions concerning some practical implications for professional accountants, auditors, financial analysts and standard setters.
Full Text Available Any type of entity must show in its financial statements information regarding its significant estimations concerning the future periods and other important sources of uncertainty at the date at which the financial statements are drafted, which presents an increased risk of generating an adjustment of the accounting value of the assets and debts in the future fiscal year. This information must include the nature of the estimations and their accounting value at the date of the balance sheet. The auditing of the financial statements in which accounting estimations are presented frame a high risk of significant distortion. Because of this, the auditor must obtain sufficient audit evidence which would certify if these estimations are reasonable, respectively if the data on which the estimations are based upon are accurate, complete and relevant, and the procedures and methods used for the development of the estimations are adequate for the balance sheet structures to which they apply. The development of provisions, as a manner to reflect uncertainties within the accounting system, contributes to the accurate representation of the company’s financial position. Such uncertainties are acknowledged through the presentation of their nature and value, but also through the exercising of prudence for the development of the financial statements. Prudence implies the identification of those accounting estimations, associated to the given uncertainties conditions, which would not over-evaluate the assets and the incomes, and the debts and expenses would not be under-evaluated. Exercising prudence should not allow, for instance, the accumulation of excessive provisions, the deliberate under-evaluation of assets and incomes, nor the deliberate over-evaluation of debts or expenses. This requirement is imperative, due to the fact that investors substantiate their economic decisions starting from the analysis of the financial statements, as accurate image of the
Full Text Available The financial market is one of the elements of the market-oriented economy. The financial analysis is a fundamental element of the financial controlling business. The purpose of this article is to inform briefly about horizontal and vertical financial statements analysis as the source of competitive advantage of the firm. The article is divided into two parts. First describes financial analysis and financial statements generally. Second, it presents a practical contribution of the horizontal and vertical financial statements analysis at the controlled businesses as financial management tools, which identify the financial position, market behaviour, correlations between the net profit and the prohibitively cost and operating profit, the financial activities profit, the income tax etc.Business, which the analysed firm operates in asks a provable claim on the high value of fixed assets. The capital composition of the firm is call to typify for the state-owned enterprise that was transformed to private joint-stock companies. Analysis is specially pleading for the needs considering the price of the borrowed capital in the capital structure rating. Fault factor ø value talks about needs for the cost regulation. Stair-step conception used for counting of the net profit in the accountant period indicates the financial profit, alternatively loss, as the distinguished pre-tax profit element. Picture about firms financial results can be completed with the information about the income tax value. Form of financial analyses presented in the article entablature the accents on the necessity to compare several accounting period and on the necessity of complex understanding of statements accounting slide en bloc.Financial analyse makes the decision makers possible to screen potential partners before the cooperation starts. On the other side, it makes a possibility to influence the production process, sales and financial management during the accounting
U.S. Environmental Protection Agency — Subtitle I of the Resource Conservation and Recovery Act, as amended by the Hazardous Waste Disposal Act of 1984, brought underground storage tanks (USTs) under...
... http://www.familyvoices.org/contact Resources state by state [familyvoices.org] Note: Special interest in children Your child may be eligible to receive social security. To find out if your child qualifies a ...
Olson, Lucretia Maria
This manual contains student assignments in the financial services area of the marketing process. The individualized competency-based materials are intended to enhance and supplement instruction or to provide the basis for a course of instruction by the teacher-coordinator. Information on skills needed in jobs in financial marketing is first…
Full Text Available New, more or better financial education and financial literacy programmes should lead to improved financial capability, knowledge and outcomes. Yet we do not even know which terminology is most suitable for those projects who all intend to give an answer to a question which is less than clear. What is meant by the term “financial education”? Why did the “demand” for financial education suddenly increase? Have the numerous tasks which consumers in a modern society have to fulfill created this new field for financial education? Are their specific needs of financial markets which need adapted consumers as competent players? Or has the general level of education fallen? Would more ignorance on financial products perhaps increase the likelihood of these markets to care more about consumers? Do we truly need financial education at all and if so, as this article argues, what kind of financial education would respond to it? Based on five years of empirical research, on existing papers and curriculars for financial education and another five years of our own experiences with practical financial education in schools and with clients of debt advice agencies we would like to promote financial education as a form of consumer protection where consumers are seen collectively as the true masters of the economy.
Cesar Akira Yokomizo
Full Text Available Brazilian banks have developed innovative initiatives to deliver financial services for the lowincome population through correspondent banking (CB. Banco Lemon is such an interesting case to be studied because it has implemented a business model based exclusively on CB outlets and its focus was on low-income clients. This paper describes Banco Lemon’s adoption process of the CB technology to deliver financial services for the low-income population, promoting a historical description of the bank’s activities, since its creation and up to the year 2009. Eventually, this paper concludes that bill payment initiatives were successful while credit initiatives led to unexpressive outcomes.
Jun 21, 2017 ... This Management's Discussion and Analysis (MD&A) provides a narrative discussion of the financial results and operational changes for the financial year ended on. 31 March 2017. This discussion should be read with the. Financial Statements and accompanying notes provided on pages 51 to 67, which ...
Sormunen, Nina; Laitinen, Teija
according to the date of application for reorganization: the first group of businesses applied for reorganization between 1 and 182 days after the closing of accounts, and the second group between 183 and 365 days after that point. The study findings provide evidence that the financial distress process......The present study adds to our understanding and knowledge of financial distress predictions regarding the usefulness of financial ratios in the late stages of the financial distress process. The study contributes to previous research by generating information concerning: (1) the behavior...... and usefulness of single financial ratios in short-term financial distress prediction when the effect of each different financial distress process stage is considered; (2) the effects of recognition of the financial distress process stage on the financial distress prediction model. The time horizon...
Davidson, J. Cody
Research has shown that community college and other low income students have the most need regarding the financial aid process. Community college students are less likely to complete the free application for federal student aid (FAFSA) than students at public and private four-year and for-profit institutions. Surveys have shown that the complexity…
Udo Reifner; Anne Schelhowe
New, more or better financial education and financial literacy programmes should lead to improved financial capability, knowledge and outcomes. Yet we do not even know which terminology is most suitable for those projects who all intend to give an answer to a question which is less than clear. What is meant by the term “financial education”? Why did the “demand” for financial education suddenly increase? Have the numerous tasks which consumers in a modern society have to fulfill created this ...
Sayinzoga, Aussi; Bulte, Erwin H.; Lensink, Robert
We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the
Patrick D., Captain, and Colonel Michael J. Meese. The Financial Front in the Global War on Terrorism. Edited by R. D. Howard and R. L. Sawyer. Westpoint...Laundering: The Scope of the Problem and Attempts to Combat It.” Tennessee Law Review, 1995. Suskind, Ron . The One Percent Doctrine. New York, NY...prosecuting those responsible for terrorist acts; (5) responding to WMD attacks; (6) managing kidnapping for ransom crimes; and (7) responding to terrorist
Ayuba A. Aminu
Full Text Available The importance of financial ethics and its application in financial reporting of banks cannot be ignored as it assists in building public confidence and fostering professionalism. However, the non-compliance and conformity with Nigerian Financial Regulatory Authorities prudential guidelines in the preparation of financial statements lead to incomplete or false information. The objective of the study is to examine the application of financial ethics in annual financial reporting of banks. The study employed primary and secondary data and stratified and purposive sampling techniques were used in which 20 questionnaires were administered to respondents. ANOVA and chi-square were in analysis and the findings revealed that there are significant unethical practices in the preparation of financial reports of banks in Nigeria. The study recommends that more emphasis and attention should be given to ethical standards in all banks and banks should give out clear reports of their financial activities to the regulatory authorities.
Financial Arbitrator The legislative introduction of the institute of Financial Arbitrator as the relevant authority for settling out-of-court disputes into Czech law is a relatively new phenomenon, and is related to the interests of consumer protection within the European Union. In particular, the interests of the European Union in this area are to reinforce consumer confidence in the financial market. Given the fact that the majority of consumer disputes are so-called petty disputes, and re...
This bachelor thesis is focused on financial benchmarking of KBJ VELKOOBCHODY s.r.o. The aim of this study is to evaluate the financial situation of the company and to compare the results within the same field and with the best companies in this branch as well as direct competitors. The purpose is to gain an overview of the financial health of the company and also the relevation of strengths and weaknesses through Benchmarking diagnostic system of financial indicators INFA. The theoretical pa...
Jothi, A Lenin
Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance. A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision - m
Doung, C.; Pescetto, G.; Santamaria, D.
The paper investigates investor’s behaviour in the context of value–glamour investing and fundamental analysis, and provides a direct test of the confirmation bias by bringing together the evidence from several strands of literature into a well-defined framework of investor behaviour. The empirical evidence presented is in line with a model of\\ud investor’s asymmetric reaction to good and bad news due to confirmation bias. Pessimistic value investors typically under-react to good financial in...
This thesis is broadly concentrated on decision making under uncertainty. It seeks to investigate how agents in financial markets make decisions at the individual level and how these decisions can sometimes be affected by personal traits and cognitive biases rather than being perfectly rational....... The primary focus is on financial analysts in the task of conducting earnings forecasts while a secondary focus is on investors’ abilities to interpret and make use of these forecasts. Simply put, financial analysts can be seen as information intermediators receiving inputs to their analyses from firm...... in the decision making and the magnitude of these constraints does sometimes vary with personal traits. Therefore, to the extent that financial analysts are subjects to behavioral biases their outputs to the investors are likely to be biased by their interpretation of information. Because investors need accuracy...
Seidmann, Abraham; Mehta, Tushar
The authors review the role of financial accounting information from the perspective of a radiology executive. They begin by introducing the role of pro forma statements. They discuss the fundamental concepts of accounting, including the matching principle and accrual accounting. The authors then explore the use of financial accounting information in making investment decisions in diagnostic medical imaging. The paper focuses on critically evaluating the benefits and limitations of financial accounting for decision making in a radiology practice.
Hastings, Justine S.; Madrian, Brigitte C.; Skimmyhorn, William L.
In this article, we review the literature on financial literacy, financial education, and consumer financial outcomes. We consider how financial literacy is measured in the current literature and examine how well the existing literature addresses whether financial education improves financial literacy or personal financial outcomes. We discuss the…
Khem Raj Bhetuwal Ph. D.
An efficient financial system can effectively mobilize and allocate resources leading to robust economic growth. Financial liberalization improves the functioning of financial system by increasing the availability of funds and allowing risk diversification and increased investment. The indices of financial liberalization and financial development, generated by the principal component analysis, depict a gradual process of financial liberalization and a continuous financial sector development. ...
Full Text Available The purpose of this project is to design a knowledge management application as a media to document knowledge and facility that supported a knowledge sharing culture in Oracle Financial subdivision in Orang Tua Group. The researcher uses 7 first steps method which defined by Tiwana in doing knowledge management application prototype. The knowledge management prototype application modules consist of Wiki page, document library, discussion board, blog, picture library, knowledge base, help desk, frequently asked questions, and surveys. In using knowledge in knowledge base, user will get knowledge through business process, how to use the application, or how to finish some cases. Knowledge management prototype application design as a whole could fulfill user’s needs in sharing knowledge, but still needs continuous improvement for maximal usage.Keywords: prototype design, knowledge management application, knowledge
... 29 Labor 1 2010-07-01 2010-07-01 true Financial reporting. 95.52 Section 95.52 Labor Office of the... Records § 95.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients: (1) SF-269 or SF-269A, Financial...
... 2 Grants and Agreements 1 2010-01-01 2010-01-01 false Financial reporting. 215.52 Section 215.52... Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status Report...
... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Financial reporting. 145.52 Section 145.52....52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status...
... 36 Parks, Forests, and Public Property 3 2010-07-01 2010-07-01 false Financial reporting. 1210.52....52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status...
... 7 Agriculture 6 2010-01-01 2010-01-01 false Financial reporting. 550.53 Section 550.53 Agriculture... Reports and Records § 550.53 Financial reporting. Financial Status Report. (a) Each REE Agency shall.... A financial status report shall consist of the following information: (1) The name and address of...
... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Financial reporting. 435.52 Section 435.52... ORGANIZATIONS Post-Award Requirements Reports and Records § 435.52 Financial reporting. (a) Authorized forms... financial information from recipients: (1) SF-269 or SF-269A, Financial Status Report. (i) SSA requires...
... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Financial reporting. 84.52 Section... Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial Status Report...
Fatemeh Karbalaee Saleh
Full Text Available The purpose of this research is to determine the relationship between life cycle and cash flows of automotive and machinery industry among firms whose shares are accepted in Tehran Stock exchange. The multivariate linear regression is used and the classification is based on the applied researches. The study population consists of accepted automotive and machinery industries in Tehran Stock Exchange. According to limitation in population of study, the total population has been considered and because of the nature of this research, Eviews software is used. The results indicate that the effect of cash flows are superior to accrual financial information and by increasing of the company`s life cycle and entering to maturity and decline stages, the information of cash flows and accrual flows will reduce.
Matvejevs, A; Pavļenko, O
The combination of financial theory, mathematics and computer technology has led to the emergence of a new profession: Financial Engineering. Financial engineers apply advanced economics theory, recent mathematical methods and computer technology to financial markets and financial management. The program of professional studies in Financial Engineering has been running at the Faculty of Computer Science and Information Technology, Riga Technical University since 2009/2010 academic year. It is...
This paper provides a brief exposition of financial markets in Post Keynesian economics. Inspired by John Maynard Keynes's path-breaking insights into the role of liquidity and finance in "monetary production economies," Post Keynesian economics offers a refreshing alternative to mainstream (mis)conceptions in this area. We highlight the importance of liquidity-as provided by the financial system—to the proper functioning of real world economies under fundamental uncertainty, contrasting star...
.... The DoD Agency Wide financial statements include financial statements for a reporting entity called "Other Defense Organizations," a consolidation of financial information from various Defense...
On the fundamentals of winning virtuous strategies creation toward leveraged buyout transactions implementation during private equity investment in conditions of resonant absorption of discrete information in diffusion - type financial system with induced nonlinearities
Ledenyov, Dimitri O.; Ledenyov, Viktor O.
The authors perform an original research on the fundamentals of winning virtuous strategies creation toward the leveraged buyout transactions implementation during the private equity investment in the conditions of the resonant absorption of discrete information in the diffusion - type financial system with the induced nonlinearities at the influences by the Schumpeterian creative disruption processes in the free market economy. We propose that the money is a financial computing process, whic...
In conditions of severe market competition and economic turmoil financial security of agricultural businesses largely depends on the effectiveness of management decisions, reporting being the information support to ensure such decision making. Thus, the practice of preparing accounting figures and their adjustment has a direct effect on agricultural businesses financial security. Having been generalized at the industry level, statistical and financial statements are used for the development o...
Full Text Available In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial literacy is one among a number of strategies directed towards inducing changes in consumer behaviour. It sits between the old regulatory model which relies on disclosure of information for effective and rational decision-making and a newer regulatory model which takes into account individuals' perceptions and behavioural biases and may seek to accommodate for these by imposing obligations on financial services providers beyond the mere disclosure of information. Financial literacy is generally the ability to understand how money works, how a person can earn money or make it more. It specifically refers to the set of skills and knowledge that allows people to make informed and effective decisions with all of their financial resources. This article discusses Australian and South African legal obligations and social responsibilities aimed at promoting the financial literacy of consumers.
Louisiana State Legislative Auditor, Baton Rouge.
This report presents results of a financial audit of the Louisiana State University (LSU) system. The auditors also rendered opinions on financial statements of separate, incorporated foundations which oversee the investment of various university endowments, the financial statements for which were prepared by other auditors. An accompanying letter…
.... The accuracy of information in the financial systems and reported on financial statements is the joint responsibility of the Defense Automated Printing Service and the Defense Logistics Agency...
Lin, Blossom Yen-Ju
Taiwan's primary community care network (PCCN) demonstration project, funded by the Bureau of National Health Insurance on March 2003, was established to discourage hospital shopping behavior of people and drive the traditional fragmented health care providers into cooperate care models. Between 2003 and 2005, 268 PCCNs were established. This study profiled the individual members in the PCCNs to study the nature and extent to which their network infrastructures have been integrated among the members (clinics and hospitals) within individual PCCNs. The thorough questionnaire items, covering the network working infrastructures--governance, clinical, marketing, financial, and information integration in PCCNs, were developed with validity and reliability confirmed. One thousand five hundred and fifty-seven clinics that had belonged to PCCNs for more than one year, based on the 2003-2005 Taiwan Primary Community Care Network List, were surveyed by mail. Nine hundred and twenty-eight clinic members responded to the surveys giving a 59.6 % response rate. Overall, the PCCNs' members had higher involvement in the governance infrastructure, which was usually viewed as the most important for establishment of core values in PCCNs' organization design and management at the early integration stage. In addition, it found that there existed a higher extent of integration of clinical, marketing, and information infrastructures among the hospital-clinic member relationship than those among clinic members within individual PCCNs. The financial infrastructure was shown the least integrated relative to other functional infrastructures at the early stage of PCCN formation. There was still room for better integrated partnerships, as evidenced by the great variety of relationships and differences in extent of integration in this study. In addition to provide how the network members have done for their initial work at the early stage of network forming in this study, the detailed surveyed
... information that investment advisers must disclose to clients. 275.206(4)-4 Section 275.206(4)-4 Commodity and... disclose to clients. (a) It shall constitute a fraudulent, deceptive, or manipulative act, practice, or... fail to disclose to any client or prospective client all material facts with respect to: (1) A...
... achieve visual interest, so long as the color contrast is distinctive and the color does not detract from... specified in paragraphs C.2(d)(2) or C.2(d)(3) of these Instructions. (2) For our marketing purposes. This reason incorporates sharing information with service providers by an institution for its own marketing...
Blums, Ivar; Weigand, Hans; Borgo, Stefano; Kutz, Oliver; Loebe, Frank; Neuhaus, Fabian
Among models and information about economic phenomena which help to understand how enterprises produce value, Accounting and Financial Reporting still play a leading and regulative role. The regulative role is established by enforceable International Financial Reporting Standards (IFRS). Ontology
This work provides basic information about consolidation and consolidated financial statements. In the beginning there are definisions of the members of the group under discussion and their relationship. Hereafter concepts of consolidation, accounting methods and methods of consolidation are discussed. It also compares approach of different accounting systems to consolidation.
This page provides information on UIC financial responsibility requirements, qualifying financial instrumentsRoles and responsibilities for operators and UIC Directors UIC Director’s and review procedures for financial responsibility instruments.
travel to deliver programs, through intelligence gathering, procedures, and .... Annual value (number) of agreements signed and amended. Unspent agreement ...... The financial statements are presented in Canadian dollars and all values are rounded to the nearest thousand ($000) except where otherwise indicated.
Full Text Available This study determines the importance of financial education in contemporary societies. A review of various organizations for increasing financial education whose individual and societal importance has been internationally accepted is also offered. Towards this end initiatives undertaken by international organizations and national authorities are examined. Aspects of these initiatives that can be offered as best practices for developing nations are identified. For the Turkish case financial education examples that can be organized under public authority leadership, with NGO participation are collated. Various experiences about measuring and increasing financial literacy are examined. Among these are the implementations in Australia, Japan, England and the United States. It is put forth, in light of international experience, that increasing access to financial education and efficiency of financial services are possible through, informing, education and consulting.
... 7 Agriculture 11 2010-01-01 2010-01-01 false Financial Services Staff. 1700.33 Section 1700.33... AGRICULTURE GENERAL INFORMATION Agency Organization and Functions § 1700.33 Financial Services Staff. The Financial Services Staff evaluates the financial condition of financially troubled borrowers in order to...
Full Text Available The recent financial crises has revealed the need to improve and ensure the stability of the financial sector to reduce negative externalities, to ensure fair and substantial contribution of the financial sector to the public finances and the need to consolidate public finance. All those needs represent substantial arguments for the discussion about the introduction of financial sector taxation. There are discussed in the paper two possible schemes of financial sector taxation – financial transaction tax and financial activities tax. The aim of the paper is to research the possibility of the introduction of financial sector taxation, to discuss the pros and cons of two major candidates on financial sector taxation – financial transaction tax and financial activities tax and to suggest the possible candidate suitable for the implementation on the EU level. Financial transaction tax represents the tool suitable mainly on global level, for only in that case enables generate sufficient financial resources. From EU point of view is considered as less suitable, for it bears the risk of reallocation. Therefore the introduction of financial activities tax on EU level is considered as a better solution for the financial sector taxation in the EU, for financial sector is exempted from value added tax. With respect to the fact, that the implementation would represent the innovative approach to the financial sector taxation, there are no empirical proves and therefore this could be the subject of further research.
Full Text Available Besides the growing interest of companies to communicate their commitment to sustainability, assurance of the information disclosed has increased, due to the interest of the stakeholders to know their reliability. Initially, we will explain the concept and benefits of sustainability reporting assurance. Subsequently, we will focus on the differences between the financial audit and sustainability reports assurance and the description of the main international report assurance statements. Finally, we will explain the main criticisms of assurance and some proposals for improvement. Junto al creciente interés de las empresas por comunicar su compromiso con la sostenibilidad, ha aumentado el aseguramiento de la información revelada, debido al interés de los grupos de interés por conocer su fiabilidad. Inicialmente, explicaremos el concepto y las ventajas del aseguramiento de los informes de sostenibilidad. Posteriormente, nos centraremos en las diferencias existentes entre la auditoría de cuentas y el aseguramiento de memorias de sostenibilidad y en la descripción de los principales estándares internacionales en materia de aseguramiento. Finalmente, expondremos las principales críticas al aseguramiento y algunas propuestas de mejora. DOWNLOAD THIS PAPER FROM SSRN: http://ssrn.com/abstract=2690158
Full Text Available This hereby works tries to identify the principles regarding the corporate governance and analyze the way in which such corporate governance templates influence the qualitative characteristics of the financial information. The execution of the governance means the obligation to implement the processes and structures corresponding to the management and the administration of the business and company’s operations, to provide their good operation. The final scope of the good corporate governance is to provide the efficiency, credibility and reliability of the organization. Solid governance means the settlement of certain fundamental principles defining the relationships between different actors clearly tracks the responsibilities and provides a correct operation of the decision making processes. Starting from the statement according to which the transparency and the quality of the corporate governance system are two concepts coexisting and relating intensively, associations among the characteristics of the shareholding and the information transparency level can be identified in the activity of the public interest entities. The relationships with the current or future investors, with the financers, with the investment analysts, with the media are of great importance for the accomplishment of the scopes related to the image and credibility of the public interest entity and mean a correct and fluent communication.
Ma. Enriqueta Mancilla Rendón
Full Text Available Los cambios legales en las normas contables establecen cuestiones sobre la información presupuestal del Estado de la administración pública y los informes financieros. Debido a la importancia y utilidad de la preparación de la información financiera, este trabajo tiene como objetivo reflexionar sobre las cuestiones que se deben abordar para llevar a cabo la aplicación de las normas contables en el campo del gobierno local, a circunscribir los criterios de regulación financiera aplicadas por el régimen o devengo. El estudio comenzó con una revisión de los estados teniendo en cuenta sus problemas de información financiera, para elegir como unidad de análisis no probabilística a la entidad federativa Baja California Sur con la intención de examinar con mayor precisión la información financiera y presupuestal. El estudio se realizó con el método inductivo exploratorio con un alcance descriptivo; también se realizó revisión teórica hermenéutica sobre la información financiera de la administración central y paraestatal de la entidad federativa, para tener una visión general del sector público en el estado, considerando como hipótesis central sobre la información financiera y presupuestal presentada por la entidad federativa ayuda a medir los objetivos, estrategias y prioridades de desarrollo del estado, la eficiencia y eficacia de la administración pública. Como resultado del estudio se comprende que la información financiera y presupuestal del ejercicio fiscal 2012, los financieros analíticos de ingresos, gastos, deudas, entre otros, así como los informes de las finanzas públicas en el contexto de la contabilidad gubernamental de la administración pública estatal local aun perfilan esfuerzos para obtener dicha información, comprendiéndose que los estados financieros de la entidad de estudio están aún por dar a entender, que el compromiso de la autoridad para cumplir con las normas contables es escaso, y
The promotion of an inclusive financial system is a policy priority in many countries. While the importance of financial inclusion is widely recognized, the literature lacks a comprehensive measure that can be used to measure the extent of financial inclusion across economies. This paper attempts to fill this gap by proposing an index of financial inclusion (IFI). The proposed IFI captures information on various dimensions of financial inclusion in a single number lying between 0 and 1, where...
The current study examines individual decision making in the field of personal finance. How do people arrive at a financial decision? A laboratory experiment investigates the way external information is integrated into the decision-making process. Financial literacy shows to lower demand for financial advice but it does not immunize against sunk cost fallacies: High financial literate subjects are not less likely to follow financial advice than less literate subjects, even when the quality of...
Cassis, Y.; Cottrell, P. L
The considerable renewal of interest in all aspects of financial history over recent years provided one motivation for this new venture. Yet, the foundations for our specialism, which draws from both History and the Social Sciences, especially economics, have been laid by many. Some would point to continuity in our interest from the publication in the 1930s of jubilee banking history volumes, such as those written for British institutions by Gregory, and by Crick and Wadsworth. Further schola...
Lin Blossom Yen-Ju
Full Text Available Abstract Background Taiwan's primary community care network (PCCN demonstration project, funded by the Bureau of National Health Insurance on March 2003, was established to discourage hospital shopping behavior of people and drive the traditional fragmented health care providers into cooperate care models. Between 2003 and 2005, 268 PCCNs were established. This study profiled the individual members in the PCCNs to study the nature and extent to which their network infrastructures have been integrated among the members (clinics and hospitals within individual PCCNs. Methods The thorough questionnaire items, covering the network working infrastructures – governance, clinical, marketing, financial, and information integration in PCCNs, were developed with validity and reliability confirmed. One thousand five hundred and fifty-seven clinics that had belonged to PCCNs for more than one year, based on the 2003–2005 Taiwan Primary Community Care Network List, were surveyed by mail. Nine hundred and twenty-eight clinic members responded to the surveys giving a 59.6 % response rate. Results Overall, the PCCNs' members had higher involvement in the governance infrastructure, which was usually viewed as the most important for establishment of core values in PCCNs' organization design and management at the early integration stage. In addition, it found that there existed a higher extent of integration of clinical, marketing, and information infrastructures among the hospital-clinic member relationship than those among clinic members within individual PCCNs. The financial infrastructure was shown the least integrated relative to other functional infrastructures at the early stage of PCCN formation. Conclusion There was still room for better integrated partnerships, as evidenced by the great variety of relationships and differences in extent of integration in this study. In addition to provide how the network members have done for their initial work at
Lin, Blossom Yen-Ju
Background Taiwan's primary community care network (PCCN) demonstration project, funded by the Bureau of National Health Insurance on March 2003, was established to discourage hospital shopping behavior of people and drive the traditional fragmented health care providers into cooperate care models. Between 2003 and 2005, 268 PCCNs were established. This study profiled the individual members in the PCCNs to study the nature and extent to which their network infrastructures have been integrated among the members (clinics and hospitals) within individual PCCNs. Methods The thorough questionnaire items, covering the network working infrastructures – governance, clinical, marketing, financial, and information integration in PCCNs, were developed with validity and reliability confirmed. One thousand five hundred and fifty-seven clinics that had belonged to PCCNs for more than one year, based on the 2003–2005 Taiwan Primary Community Care Network List, were surveyed by mail. Nine hundred and twenty-eight clinic members responded to the surveys giving a 59.6 % response rate. Results Overall, the PCCNs' members had higher involvement in the governance infrastructure, which was usually viewed as the most important for establishment of core values in PCCNs' organization design and management at the early integration stage. In addition, it found that there existed a higher extent of integration of clinical, marketing, and information infrastructures among the hospital-clinic member relationship than those among clinic members within individual PCCNs. The financial infrastructure was shown the least integrated relative to other functional infrastructures at the early stage of PCCN formation. Conclusion There was still room for better integrated partnerships, as evidenced by the great variety of relationships and differences in extent of integration in this study. In addition to provide how the network members have done for their initial work at the early stage of network
Sonya L. Britt
Full Text Available Recent research has suggested that mental health professionals may be at greater risk of endorsing money scripts associated with lower income, lower net worth, and problematic financial behaviors. This study more closely examined the financial health of mental health professionals using the Klontz-Britt Financial Health Scale (FHS. Data was collected from 264 individuals recruited through financial seminars given by the researchers and through social media. Results indicated that when compared to other occupations, mental health professionals report significantly lower levels of financial health. Regardless of occupation, money status and money worship scripts were associated with lower levels of financial health, while money vigilance scripts were associated with higher levels of financial health. These results are of interest to financial counselors and educators to inform their work with those in the mental health profession who may be at greater risk of lower financial health.
Noubiap, Jean Jacques N; Joko, Walburga Yvonne A; Obama, Joel Marie N; Bigna, Jean Joel R
For the last two decades, promoted by many governments and international number in sub-Saharan Africa. In 2005 in Cameroon, there were only 60 Community-based health insurance (CBHI) schemes nationwide, covering less than 1% of the population. In 2006, the Cameroon government adopted a national strategy aimed at creating at least one CBHI scheme in each health district and covering at least 40% of the population with CBHI schemes by 2015. Unfortunately, there is almost no published data on the awareness and the implementation of CBHI schemes in Cameroon. Structured interviews were conducted in January 2010 with 160 informal sectors workers in the Bonassama health district (BHD) of Douala, aiming at evaluating their knowledge, concern and preferences on CBHI schemes and their financial plan to cover health costs. The awareness on the existence of CHBI schemes was poor awareness schemes among these informal workers. Awareness of CBHI schemes was significantly associated with a high level of education (p = 0.0001). Only 4.4% of respondents had health insurance, and specifically 1.2% were involved in a CBHI scheme. However, 128 (86.2%) respondents thought that belonging to a CBHI scheme could facilitate their access to adequate health care, and were thus willing to be involved in CBHI schemes. Our respondents would have preferred CBHI schemes run by missionaries to CBHI schemes run by the government or people of the same ethnic group (p). There is a very low participation in CBHI schemes among the informal sector workers of the BHD. This is mainly due to the lack of awareness and limited knowledge on the basic concepts of a CBHI by this target population. Solidarity based community associations to which the vast majority of this target population belong are prime areas for sensitization on CBHI schemes. Hence these associations could possibly federalize to create CBHI schemes.
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.
van Rooij, M.C.J.; Lusardi, A.; Alessie, R.
Individuals are increasingly put in charge of their financial security after retirement. Moreover, the supply of complex financial products has increased considerably over the years. However, we still have little or no information about whether individuals have the financial knowledge and skills to
... CFR Part 234 RIN 7100-AD71 Financial Market Utilities AGENCY: Board of Governors of the Federal... market utilities (``FMUs'') that are designated as systemically important by the Financial Stability...) only, contact (202) 263- 4869. SUPPLEMENTARY INFORMATION: ] I. Background A. Financial Market Utilities...
... 49 Transportation 1 2010-10-01 2010-10-01 false Financial reporting. 19.52 Section 19.52... Requirements Reports and Records § 19.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269...
... 45 Public Welfare 4 2010-10-01 2010-10-01 false Financial reporting. 2543.52 Section 2543.52... ORGANIZATIONS Post-Award Requirements Property Standards § 2543.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from...
... 45 Public Welfare 1 2010-10-01 2010-10-01 false Financial reporting. 74.52 Section 74.52 Public..., AND COMMERCIAL ORGANIZATIONS Post-Award Requirements Reports and Records § 74.52 Financial reporting. (a) The following forms are used for obtaining financial information from recipients: (1) SF-269 or...
... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Financial reporting. 12.952 Section 12.952... Requirements § 12.952 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A...
... 34 Education 1 2010-07-01 2010-07-01 false Financial reporting. 74.52 Section 74.52 Education... and Records § 74.52 Financial reporting. (a) The following forms or other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A...
In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial ...
... 22 Foreign Relations 2 2010-04-01 2010-04-01 true Financial reporting. 518.52 Section 518.52... Requirements Reports and Records § 518.52 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269...
This article focuses on analyzing of a consolidated financial statements of a hypothetically SME. The interpretation of the financial position and performances is based on the more than 40 financial key ratios computed by using financial data from consolidated income statement, consolidated financial position and cash flow. However additional data from notes to financial statements are provided.
Noelia Camara; David Tuesta
We rely on demand and supply-side information to measure the extent of financial inclusion at country level for eighty-two developed and less-developed countries. We postulate that the degree of financial inclusion is determined by three dimensions: usage, barriers and access to financial inclusion. Weights assigned to the dimensions are determined endogenously by employing a two-stage Principal Component Analysis. Our composite index offers a comprehensive measure of the degree of financial ...
Full Text Available The development of XBRL (eXtensible Business Reporting Language for financial reporting has significantly changed the way which financial statements are presented to differentusers and implicitly the quantity and quality of information provided through such a modern format. Following a standard structure, but adaptable to the regulations from different countriesor regions of the world, we can communicate and process financial accounting information more efficient and effective. This paper tries to clarify the manner of preparation and presentation ofthe financial statements if using XBRL as reporting tool.Keywords: XML, XBRL, financial reporting, specification, taxonomy, instance
Full Text Available Empirical research suggests that financial inclusion initiatives – such as facilitating access to financial resources or providing microcredit – are alone not enough to lower socioeconomic disparities. In this article, we adopt a critical stance as a guide for our empirical investigation. Our aim is to propose a financial education framework, tailored to low-income micro-entrepreneurs, that embraces new information and communication technologies (ICTs and seeks to improve financial inclusion and social emancipation. This empirical study was conducted in an Amazonian municipality in Brazil where recent access to ICTs has brought about important and varied socioeconomic changes. Results show that ICT-supported and tailored critical financial education can play a dual role: on the one hand, access to financial education might decrease the effects of generative mechanisms on global/local tensions, triggered by standardized ICT applications; on the other hand, such access might increase financial inclusion and social transformation through the integration of guiding principles into financial education programs.
Financial accounting model that we used emphasizes on financial measure. Rapid technological innovation especially in information technology requires new capabilities for competitive success. The need to build long-range competitive capabilities and the fact about historical-cost financial accounting created a new tool for management in financial measure: the balanced scorecard. The Balanced Scorecard emphasizes that financial and nonfinancial measure must be part of information system for em...
The financial trilemma states that financial stability, financial integration and national financial policies are incompatible. Any two of the three objectives can be combined but not all three; one has to give. This paper develops a model to underpin the financial trilemma. © 2011 Elsevier B.V.
... 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...
... 7 Agriculture 15 2010-01-01 2010-01-01 false Standards for financial management systems. 3019.21... Requirements Financial and Program Management § 3019.21 Standards for financial management systems. (a) Federal... cost information whenever practical. (b) Recipients' financial management systems shall provide for the...
... 45 Public Welfare 1 2010-10-01 2010-10-01 false Standards for financial management systems. 74.21... Management § 74.21 Standards for financial management systems. (a) Recipients shall relate financial data to... cost information is usually not appropriate. (b) Recipients' financial management systems shall provide...
... 41 Public Contracts and Property Management 3 2010-07-01 2010-07-01 false Financial reporting. 105... § 105-72.602 Financial reporting. (a) The following forms or such other forms as may be approved by OMB are authorized for obtaining financial information from recipients. (1) SF-269 or SF-269A, Financial...
Finansal Bilgi Manipülasyonunun Beneish Modeli Yardımıyla Ölçülmesi: BIST İmalat Sanayi Üzerine Bir Araştırma (Measurement of Financial Information Manipulation with The Help of Beneish Model: A Research on BIST Manufacturing Industry
Full Text Available The financial information manipulation has been the crucial subject of the recent years with the effect of various perspectives related to the earning management. Because of the conflicts of interest of information users, the manipulation possibility of the financial reports belonging to the businesses, which are the important actor of financial markets, is present. The managers can apply the financial information manipulation by showing the financial position and performance of business different from what they currently are thanks to the flexibility that the accrual basis of accounting provides them. In this study, the finding related to whether the businesses processing in BIST manufacturing industry have applied the financial information manipulation or not via Beneish model has been carried out. In addition to this, the finding related to which variables have effect on whether any businesses have carried out the financial information manipulation or not by using logistic regression has been done. The obtained results show powerful evidences on behalf of the fact that the financial information manipulation has taken its source from the accrual basis of accounting.
Full Text Available Children learn through observing and interacting with their parents. Much of what children learn about money comes from these observations and interactions. An area of concern in parent – child relationships is the impact of boundaries and roles. Parents whose boundaries with their children are rigid and inflexible do not prepare their children to effectively deal with stress in their lives. Similarly, parents whose boundaries are too flexible may impede their children’s ability to develop appropriate coping skills. This is true of their development of personal finance, money, consumption, and debt coping skills. Financial enmeshment occurs when parents involve their children in adult financial matters before the children are cognitively and emotionally ready to cope with the information. Financial enmeshment may have a negative effect on the child’s development. Financial enmeshment can be addressed through financial therapy. This paper explores the dynamic of financial enmeshment and discusses tools available to financial professionals to help identify the dynamic and structure interventions.
Full Text Available Financial resources of the village that are sourced from a country or a Regional Finance Financial based Law Number 6 Year 2014 of The Village is the mandate of the law that must be allocated to the village. The interconnectedness of the financial position of the village in the financial system of the country or Region concerned the Financial administrative and territorial relations, and there is no setting directly regarding the finances of the village as part of the financial system of the country or the financial area. In respect of the elements of the crime of corruption deeds against financial irregularities of the village there are still disagreements on the interpretation of the law in trapping the perpetrators of corruption on the village chief that implies not satisfy the principle of legality and legal certainty in the ruling of the matter of financial irregularities. In fact, many of the village chief or Councilor caught the criminal offence of corruption over the use of financial irregularities. This research analyzes How the financial position of the village in the financial system of the country or region, as well as whether the financial resources of the village is derived from the state budget or region budget managed in village budget belongs to the category of village finances and whether tort against the financial management of the village can be categorized as a criminal act corruption. How To Cite: Purnomo, H. (2015. Financial Village Standing in Indonesian Financial System. Rechtsidee, 2(2, 121-140. doi:http://dx.doi.org/10.21070/jihr.v2i2.81
Elena Hlaciuc; Camelia Mihalciuc; Anisoara Apetri
The major financial statements are designed to provide a picture of theoverall financial position and performance of the business. In order to provide thisoverall picture, the accounting system will normally produce five major financialreports on a regular recurring basis. These financial statements, taken together,provide on overall picture of the financial health of the business. It says that who hasthe information has the power, and the way that it gets from the receiver iscommunication. F...
DEFICIENCIES IN FY 1998 DOD FINANCIAL STATEMENTS AND PROGRESS TOWARD IMPROVED FINANCIAL REPORTING Report No. D-2000-041 November 26, 1999 Office...UNDER SECRETARY OF DEFENSE (COMPTROLLER) SUBJECT: Audit Report on Deficiencies in FY 1998 DoD Financial Statements and Progress Toward Improved... Financial Reporting ( Report No. D-2000-041) We are providing this audit report for information and use. It identifies and summarizes the major
Rural financial markets in the developing world are faced with the problem of information asymmetry and are monopolistically competitive. Based on this, one policy option to enhance rural clients' access is for formal financial institutions to mimic products and services of informal intermediaries. Empirical evidence on impact ...
Rajola, Federico; Frigerio, Chiara; Parrichi, Monica
In developed countries, economic and financial well-being is playing a crucial positive role in ageing and inclusion processes. Due to the complexity and pervasiveness of financial economy in the real life, more and more social as well as individual well-being are perceived as influenced by financial conditions. On the other hand, the demographic circumstances drive scholars as well as politicians to reflect on ageing dynamics. Bridging the two domains, the following research focuses on the role of the financial well-being as a mediating role of general well-being in elder people. The assumption is that elderly people have specific financial needs that sometimes are not covered by financial providers' offers. The motivation is mainly on the role of information asymmetries between elder consumers and financial institutions. On the dynamics of these asymmetries, the research will specifically investigate the role of financial literacy, as the ability of comprehension of elder people of their needs and of financial information. The applicative implication of this research work consists in finding the determinants of financial well-being for elders and the definition of their specific financial competencies, in order to 1) identify educational and regulatory guidelines for policy makers in charge of creating financial market transparency conditions, and to 2) support design of organizational mechanisms as well as financial product/services for this specific target of client. The following chapter presents preliminary explorative results of a survey delivered on 200 elder individuals (65-80 yrs.) leaving in Milan. Findings show that active elders consider the ability of managing personal wealth as one of the core determinant of well-being, although the economic and financial literacy is limited. Furthermore, the chapter proposes a research agenda for scholars interested in exploring the relationship between financial well-being and ageing.
Job Summary As the most senior budget team member, the Financial Advisor assumes key responsibilities in the preparation of the annual program of work and budget of the Centre (xx cost centres totalling expending some $190 M in 2007-2008). The Financial Advisor also maintains and refines as needed financial ...
Lusardi, Annamaria; Mitchell, Olivia S
In an increasingly risky and globalized marketplace, people must be able to make well-informed financial decisions. Yet new international research demonstrates that financial illiteracy is widespread when financial markets are well developed as in Germany, the Netherlands, Sweden, Japan, Italy, New Zealand, and the United States, or when they are changing rapidly as in Russia. Further, across these countries, we show that the older population believes itself well informed, even though it is actually less well informed than average. Other common patterns are also evident: women are less financially literate than men and are aware of this shortfall. More educated people are more informed, yet education is far from a perfect proxy for literacy. There are also ethnic/racial and regional differences: city-dwellers in Russia are better informed than their rural counterparts, while in the U.S., African Americans and Hispanics are relatively less financially literate than others. Moreover, the more financially knowledgeable are also those most likely to plan for retirement. In fact, answering one additional financial question correctly is associated with a 3-4 percentage point higher chance of planning for retirement in countries as diverse as Germany, the U.S., Japan, and Sweden; in the Netherlands, it boosts planning by 10 percentage points. Finally, using instrumental variables, we show that these estimates probably underestimate the effects of financial literacy on retirement planning. In sum, around the world, financial literacy is critical to retirement security.
...). Specifically, it provides information on the amount of improper payments' that federal agencies reported in their fiscal year 2000 financial statements and identifies some current improper payment...
Vieira, Elisabete F. Simões
This article provides a literature review about the dilemma of financial literacy. The individuals and families’ financial decision process is getting more vital in recent years. Given the increasingly risky and globalized markets, the actual context of global financial crisis and the continuous increasing in the complexity of financial products and services, individuals must be able to make well-informed and correct decisions. Consequently, higher levels of financial knowledge contribute to ...
Annamaria Lusardi; Mitchell, Olivia S.
We examine financial literacy in the United States using the new National Financial Capability Study, wherein we demonstrate that financial literacy is particularly low among the young, women, and the less-educated. Moreover, Hispanics and African-Americans score the least well on financial literacy concepts. Interestingly, all groups rate themselves as rather well-informed about financial matters, notwithstanding their actual performance on the key literacy questions. Finally, we show that p...
Financial or corporate risk management is a part of the firm risk management with which deal with the financial risks, such as market risk, liquidity risk and credit risk. In the context of international financial crisis, a variety of factors are influencing the development of corporate risk management: the increased volatility and deregulation of financial markets; developments in information and communications technology; the complexity of financial products and so on. The objective of risk...
Social Security Administration — The DATA Act Information Model Schema Reporting Submission Specification File C. File C includes the agency award information from the financial accounting system at...
DEMIRAJ Rezart; Shkurti (Perri), Rezarta
Recent technological changes have had a great impact on the accounting and financial environment. As other countries Albania has also been affected by developments such as the evolution towards using accounting information packages, financial web reporting, XBRL and cloud computing. Throughout this paper we try to analyze the current situation of accounting and financial reporting in Albania and the impact that the web reporting has had on the simplification of the accounting procedures. We p...
O. V. Uvarova
Full Text Available For the purposes of effective management of economic activity of the entities of insufficiently own accounting information. For objective assessment of a financial and economic provision of the entity it is necessary to pass from separate accounting data to certain valuable ratios of major factors – to financial performance or financial ratios. Calculation and interpretation of their values the integral and essentially necessary part of a financial analysis, especially it is important if the company has credit liabilities. Conditions of credit agreements often include accomplishment of credit covenants which represent restrictions for activities and a financial position of the company in addition to timely settlement of percent and a body of the credit and provide to lessors a certain level of safety from bankruptcy of the debtor. The article considers the covenants and financial covenants definitions; the main financial covenants containing in credit agreements between large banks and borrowers; data on structure of a credit portfolio and financial debt of NLMK as at June 30, 2016; the main financial covenants containing in credit agreements of the companies of NLMK Group; definitions and formulas of calculation of financial rates based on the IFRS financial statement; calculation of covenants on the example of IFRS consolidated financial statements of NLMK; subtleties of calculation of financial rates; the main differences of financial rates calculation based on the financial statements prepared on the different principles; conclusion about stability and a financial condition of NLMK by the results received during calculation financial covenants as at end of the first half of the year 2016.
The use of financial statement information has been well documented. It is expected to facilitate decision making pertinent to the user. However, financial statement information is useful only if it is available on time. This study sought to establish whether financial statements from Tanzania parastatals were availed on time, ...
Roberts, Stephen A.
The financial environment within library and information services is reviewed and a structure for financial management is presented based on funding source and level of commercial activity. Objectives for financial management of library and information services is developed and reviewed in light of future trends and stakeholder perspectives.…
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
Full Text Available -first Americas Conference on Information Systems, Puerto Rico, 2015 The Conceptual Framework for Financial Reporting as a Domain Ontology Marthinus C. Gerber, Aurona J. Gerber, Alta van der Merwe Abstract The Conceptual Framework for Financial Reporting (CFf...
Financiële spanning en informeel sociaal isolement: De rol van macro-economische omstandigheden en sociale zekerheidsuitgaven in 32 Europese landen in het decennium na de eeuwwisseling/Financial strain and informal social isolation: The role of macro-economic circumstances and social protection expenditure in 32 European countries in the decade after the turn of the century
Mark Visser; Maurice Gesthuizen; Peer Scheepers
This study examines to what extent financial strain, that is, difficulties to cope on one's income, is related to informal social isolation, that is, lacking social contacts with friend, relatives and colleagues...
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…
Hautsch, N.; Schaumburg, J.; Schienle, M.
We propose the realized systemic risk beta as a measure of financial companies' contribution to systemic risk, given network interdependence between firms' tail risk exposures. Conditional on statistically pre-identified network spillover effects and market and balance sheet information, we define
Cleary, Paul G.
Discusses ethical problems associated with financial aid counseling including: disseminating financial aid information, advising on independent status, judging students true needs, communicating between high school and college, helping parents and students understand programs, drop in enrollment of lower income students, public/private college…
The emerging concept of illicit financial flows has become a crosscutting issue on the international agenda in recent years. This umbrella term refers to money illegally earned, transferred, or used. With the development of digital technologies, the use of information and communications networks as a tool for facilitating illicit financial flows is rising as one of the key challenges in ta...
... history and proven record of financial management. (5) For those farmers without a proven history, a combination of any actual history and any other reliable source of information that are agreeable with the... on the applicant's proven record of production and financial management. (4) For CLP lenders, the...
Job Summary This position is one of six management positions reporting to the Director, Finance and Administration. The Manager is a key resource whose main function is to support the financial operations of the IDRC, the integrity of financial information as well as appropriate application of internal controls within the ...
Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This article looks at financial literacy, which is defined as the ability to process economic information and make informed decisions about financial planning, wealth accumulation, debt, and pensions. Failure to plan for retirement, lack of participation in the stock market, and poor borrowing behavior can all be linked to ignorance of basic financial concepts. Financial literacy impacts financial decision making, with implications that apply to individuals, communities, countries, and society as a whole. Given the lack of financial literacy among the population, it may be important to remedy it by adding financial literacy to the school curriculum. © The Author(s) 2015.
... Employment and Training Administration Hartford Financial Services, Inc., Corporate/EIT/CTO Database...) applicable to workers and former workers Hartford Financial Services, Inc., Corporate/EIT/CTO Database... services. Specifically, the workers provide information technology support for the firm's financial...
M. Koning (Miriam)
markdownabstract__Abstract__ Financial reporting is the process of disclosing financial information about a company to external users. This dissertation investigates three different parties involved in the environment of financial reporting: the media, regulators and auditors. The media, or
AD-AO83 797 ANDERSEN (ARTHUR) AND CO WASHINGTON DC F/G 5/1 FINANCIAL ACCOUNTING AND REPORTING IMPROVEMENT CONCEPTS(U) FEB 80 NOOIIN 79-C-0872...CATALOG NUMBER NR 367-008 IP T3j 27I4. TITLE rad SublŜ) rVRO OEE BEFOE COPLRICG COVR n -e t.* Financial Accounting and Reporting 2 79-29 Feb: C...side if neceesar and idenhif&y by, Wek nembet) Financial accounting and reporting ; compliance with GAO/OSD re- , "quirements; financial information
Practical C++ Financial Programming is a hands-on book for programmers wanting to apply C++ to programming problems in the financial industry. The book explains those aspects of the language that are more frequently used in writing financial software, including the STL, templates, and various numerical libraries. The book also describes many of the important problems in financial engineering that are part of the day-to-day work of financial programmers in large investment banks and hedge funds. The author has extensive experience in the New York City financial industry that is now distilled in
The results showed that financial reporting quality increased after the adoption of the IFRS for all the relevant proxies. The study concludes that the adoption of IFRS to enhance financial reporting quality while reducing the probability of earnings management practices could be beneficial in the long run to the Nigerian ...
Kramer, Marc M.
We find that people with higher confidence in their own financial literacy are less likely to seek financial advice, but no relation between objective measures of literacy and advice seeking. The negative association between confidence and advice seeking is more pronounced among wealthy households.
Full Text Available Economic entities around the world, regardless of their membership - public or private sector - the size, the object of activity, prepare financial statements for presentation of financial information users (investors, creditors, customers, suppliers, public institutions. The financial statements provide information about financial position, performance and changes in financial position of an entity - information underlying to base decision process. For Romania, the financial audit was not a tradition. Recognized as a top area of the accounting profession, financial audit was legislated in 1999. Statutory audit, audit of annual financial statements or consolidated annual statements have been established 9 years later (Emergency Regulation no. 90 June 24, 2008, by transposing Directive 2006/43/EC of 17 May 2006 of the European Parliament and of Council on statutory audit of annual accounts and consolidated accounts, in order to ensure oversight of auditors, in the public interest.
BELENESI (BUMBA MARIOARA
Full Text Available In a highly competitive economy, driven by globalization, the abundance of digital information and communication facilities, the investor directs its capital to those companies that promise added value of the invested capital. Even so, companies seek to obtain favorable terms of financing by rendering sensitive the investors. To achieve their goal, they must provide information about their financial and non financial performance with sufficient regularity to meet the information needs of actual or potential capital bidders in decision making. Financial communication through standardized annual statements of financial reporting in the context of corporate governance is no longer sufficient. The organization has more resources than those included in its balance sheet, capable of attracting huge benefits, but which do not meet the criteria for recognition in the financial statements. It requires, therefore, a voluntary disclosure of information on intangible resources, which are key factors in creating future value for both the organization itself and the industry it is part of. The reports of intellectual capital can effectively complement the shortcomings of the traditional model of accounting and financial reporting. In our paper we wanted to analyze financial communication in the context of corporate governance, presented through financial statements, reaching the intellectual capital reporting practices, as a means to improve communication of the organization with the outside. In this sense we presented two examples of good practice of two service companies (consultancy and design that publish annually intellectual capital reports. To alleviate the negative consequences of non-recognition of intangible assets in the financial statements, we are for the voluntary disclosure of information on intangible assets in the intellectual capital reports, annual reports, those regarding corporate responsibility, or at least in the explanatory notes of
City of Jackson, Mississippi — This data compiles standard financial integrity benchmarks that allow the City to measure its financial standing. It measure the City's debt ratio and bond ratings....
Kevin L. Kliesen; Smith, Douglas C.
Although the St. Louis Financial Stress Index suggests the level of financial stress in the markets has declined significantly since September 2008, the stress level remains modestly higher than average.
This article focuses on computing techniques starting from trial balance data regarding financial key ratios. There are presented activity, liquidity, solvency and profitability financial key ratios. It is presented a computing methodology in three steps based on a trial balance.
U.S. Department of Health & Human Services — This section contains the annual CMS financial statements as required under the Chief Financial Officers (CFO) Act of 1990 (P.L. 101-576). The CFO Act marked a major...
Park, Kay Sun
Practitioners in finance have been trying to either maximize their fortunes or minimize any unlucky outcomes;say, Beat the market. The uncertainty is always something to fear or to overcome in financial market in order to beat the market. The price of assets seems unpredictable in a short......-time interval, though academics consider market price would stay at equilibrium in the long-run, as reflecting fundamentals in the end. As “Efficiency of Financial Market” says; price of assets reveals all relevant information. The continuous-time random walk is successfully taken as close as tracking down...... the asset price movements. Moreover, a regime-switching between good versus bad state abruptly occurs over the business cycle (or the financial cycle). Hence, two key theoretical devices used to model risk in finance are first, to acknowledge that we see the movements of asset price micmic a random walk...
The financial system in the United States is slowly migrating from the bricks and mortar of banks on the city square to branch banks, ATM`s, and now direct linkage through computers to the home. Much work has been devoted to the security problems inherent in protecting property and people. The impact of attacks on the information aspects of the financial system has, however, received less attention. Awareness is raised through publicized events such as the junk bond fraud perpetrated by Milken or gross mismanagement in the failure of the Barings Bank through unsupervised trading activities by Leeson in Singapore. These events, although seemingly large (financial losses may be on the order of several billion dollars), are but small contributors to the estimated $114 billion loss to all types of financial fraud in 1993. Most of the losses can be traced to the contribution of many small attacks perpetrated against a variety of vulnerable components and systems. This paper explores the magnitude of these financial system losses and identifies new areas for security to be applied to high consequence events.
van de Laar, T.A.H.M.; Bleker, Sylvie; Houben, Raf
This chapter will focus on the goals of financial market regulation through the rules of economics, the strategies financial regulation employs to achieve these goals and the insights this provides for the compliance profession. For an overview of the goals and strategies of financial regulation
World Bank; International Monetary Fund
A joint International Monetary Fund (IMF)-World Bank mission visited Rabat and Casablanca in 2015, to assess the soundness and resilience of the banking system, the state of play in financial inclusion and infrastructure, the oversight frameworks for banking, capital markets and financial market infrastructures, crisis preparedness, and update the findings of the Financial Sector Assessme...
Huddleston, Thomas, Jr.; Batty, Burt F.
Student financial assistance services are becoming a major part of the institutional marketing plan as traditional college-age students decline in numbers and price competition among institutions increases. The effect of financial aid on enrollment and admissions processes is discussed along with the role of the financial aid officer. (Author/LBH)
We consider dynamics of financial markets as dynamics of expectations and discuss such a dynamics from the point of view of phenomenological thermodynamics. We describe a financial Carnot cycle and the financial analog of a heat machine. We see, that while in physics a perpetuum mobile is absolutely impossible, in economics such mobile may exist under some conditions.
This case study report is intended to provide metropolitan planning organizations (MPOs), state departments of transportation and transit agencies with a greater understanding of the important role that financial information plays in the planning and...
Grohmann, Antonia; Klühs, Theres; Menkhoff, Lukas
While financial inclusion is typically addressed by improving the financial infrastructure we show that financial literacy, representing the demand-side of financial markets, also has a beneficial effect. We study this effect at the cross-country level, which allows to consider institutional variation. Regarding "access to finance", financial infrastructure and financial literacy are mainly substitutes. However, regarding the "use of financial services", the effect of higher financial literac...
This article investigates the sources of sociability in modern financial systems as a prelude to assessing the prospects for financial regulation. Three sources are identified: sociality dependent upon contract, upon relational interdependency, and upon the operation of will and passion. Each...... of the article which is to explore further the nature of ‘irrationality’ as manifest in financial crises. When the contours of both these aspects of financial calculation have been elaborated, the article moves on to consider how they might shape regulatory responses to the seeming inevitability of financial...
Megan McCoy; D. Bruce Ross
Financial Therapy: 5 Steps Toward Financial Freedom and its accompanying workbook, Guide to Financial Therapy Forms and Handouts: 5 Steps Toward Financial Freedom, was created to provide an intervention model to help clients become more financially literate and protect them from financial predators.
Full Text Available Financial Therapy: 5 Steps Toward Financial Freedom and its accompanying workbook, Guide to Financial Therapy Forms and Handouts: 5 Steps Toward Financial Freedom, was created to provide an intervention model to help clients become more financially literate and protect them from financial predators.
... 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...
... 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 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...
... forecast. 210.11-03 Section 210.11-03 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION... Information § 210.11-03 Presentation of financial forecast. (a) A financial forecast may be filed in lieu of the pro forma condensed statements of income required by § 210.11-02(b)(1). (1) The financial forecast...
Young people face financial issues at an earlier age than their parents. Decisions about higher education, the need to be able to manage online payment facilities or even mobile phone plans require a level of financial literacy. PISA 2012 offered an opportunity to collect information about the financial literacy of Australian 15-year-old students,…
F.P. Hogenboom (Frederik)
markdownabstractToday’s financial markets are inextricably linked with financial events like acquisitions, profit announcements, or product launches. Information extracted from news messages that report on such events could hence be beneficial for financial decision making. The ubiquity of news,
... financial data and in this Item shall mean the registrant and its subsidiaries consolidated. 4. If interim period financial statements are included, or are required to be included, by Article 3 of Regulation S-X... information in all filings containing financial statements: A. In the forepart of the document and as of the...
... 25 Indians 1 2010-04-01 2010-04-01 false Financial reporting requirements. 276.8 Section 276.8... ASSISTANCE ACT PROGRAM UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS § 276.8 Financial reporting requirements. Requirements for grantees to report financial information to the Bureau, and to request advances...
... 25 Indians 1 2010-04-01 2010-04-01 false Financial Reporting Requirements B Appendix B to Part 276...—Financial Reporting Requirements A. Purpose and scope. This appendix prescribes requirements for grantee to report financial information to the Bureau and to request advances and reimbursement when a letter-of...
Lobanova, E. N.; Zmitrovich, A. I.; Voshevoz, A. A.; Krivko-Krasko, A. V.
In this article we consider concepts and components of the Financial Decision Making System that is being developed in the Institute of Business and Management Technology, BSU. Such system can be successfully used either for training experts in financial analytics and financial management or for financial managers and financial directors in an enterprise for the effective financial decision making.
Communication about money is a social, cultural and psychological taboo and yet it is essential in the financial planning industry, as a financial planner cannot be effective if all information is not disclosed. This article examines how financial planning students perceive communication about money, their willingness to talk about it and their…
Wijnberg, NM; van den Ende, J; de Wit, O
This article focuses on the impact of information technologies on the upstream and downstream flows of information. The authors distinguish between two types of decisions and two types of decision-making criteria and propose a four-part framework in which the essential messages of systematic
Claudia Nicoleta GUNI
Full Text Available The domain of accounting and management control at the level of multinational corporations operating in a global economic environment is an interesting blend of two disciplines: the international component of management and, on the other hand, the more technically challenging side of recording and handling financial-accounting information, which is seen as an "optimal information package". The need for accounting and management control derives from the company's strategy, serving as a source of information for the management and as an instrument for validating the convergence of the company's interests and those of its employees.
Castleman, Benjamin L.; Page, Lindsay C.
While considerable effort has been invested to increase FAFSA completion among high school seniors, there has been much less investment to ensure that college freshmen re-apply for financial aid. Text messaging is a promising approach to inform students of important stages in the financial aid re-application process and to connect them to…
Full Text Available In a business world situated on a market that is becoming more and more active both on an international and national level, the audit of financial situations embodies a veritable varied research domain and with favorable advantages for the Romanian business society, as well as for the interest of the business society located outside the Romanian space.From the result of the auditing of financial situations of a entity, various information may be obtained which is used by different groups that present opinions, knowledge and divergent interests such as:managers, investors, financial creditors, commercial creditors, clients, suppliers, employees, the government and its institutions, bankers, financial analysts, the public, the business community and other entities who base themselves on the objectivity and integrity of the financial situations audited.
Full Text Available In recent years the tourism industry has seen a rise in scope and influences both in the political and economic arenas. The industry has become exposed to risks such as money laundering and fraudulent reporting, demanding the use of International Financial Reporting Standards (IFRS to reduce differences in financial reporting and increase the attractiveness of the sector for investors. For the purpose of this paper, a sample of 611 equities in the tourism and hospitality business was used in order to understand the state of financial reporting in the sector with an emphasis on the relevance of financial information and other issues such as timeliness and the adherence to a true and fair presentation. The research reveals the enhanced relevance obtained from the use of the IFRS as well as risks for the financial management of the companies.
The following overview and accompanying audited financial statements have been prepared for Fiscal Year (FY) 1996 to report the financial position and the results of operations of the Department of Energy. These statements include the consolidated Statement of Financial Position and the consolidated Statement of Operations and Changes in Net Position. The statements have been prepared in accordance with the Office of Management and Budget Bulletin No. 94-01, Form and Content for Agency Financial Statements, and were developed in accordance with the hierarchy of accounting standards described therein. The overview provides a narrative on the Department of Energy`s mission, activities, and accomplishments. Utilizing performance measures as the primary vehicle for communicating Departmental accomplishments and results, this overview discusses the most significant measures while others are discussed in the supplemental information to the financial statements.
Full Text Available Financial system supports economic growth, while its regulatory framework provides stability for investors. Develo-ping countries with bank-oriented financial systems are not attractive to investors, so prolonged status quo leads to economic deterioration. This is particularly the case with some of the most underdeveloped areas in Europe: Western Balkans. It is essential the developing countries in this region consider steps towards financial liberalization, which will help open the borders for capital flows and attract new investments. The main goal of this paper is to review and present the available information related to the banking system development in Western Balkans in terms of ownership structure, capital adequacy, loan and asset performance, return on investment and liquidity. These indicators should provide a clearer picture of the current financial systems in Western Balkans economies and their development progress – useful for comparison with other developing regions and financial transformation and liberalization efforts.
Omanga, Josphat; Dreyer, Johannes Kabderian
This chapter analyzes the role of financial innovation and mobile phone technologies to financial inclusion in Kenya. In order to do so, a case study on M-PESA is conducted, the leading mobile service of money transfers in Africa, which is offered by Safaricom. M-PESA services are cheap and easy...... to use in comparison to other formal and informal providers of financial services. It solves two different problems in Kenya: customers do not have to travel anymore long distances to reach financial services and more people can afford them. As result and in line with the literature, this chapter...... suggests that M-PESA services can be considered a type of disruptive innovation that promotes financial inclusion and wealth growth in Kenya....
Marcelo Paulo de Arruda
Full Text Available The regulatory environment for public and private companies are significant differences in earnings quality between public and private companies (BALL; SHIVAKUMAR, 2005. However, the literature has suggested that the process of accounting measurement of financial institutions differ substantially from other companies (PEASNELL et al, 2000. Nevertheless,previous studies did not have systematically analyzed the informational differences between the public and private financial institutions. The aim of this study was to analyze the behavior of levels of conservatism and persistence of financial results of the public and private Brazilian financial institutions. To meet the objective of this work was realize an analysis of the data based on the models of conservatism proposed by Ball and Shivakumar (2005 and persistence described by Dechow and Schrand (2004, estimated using panel data. The sample was composed by Brazilian financial institutions public and private in the period between 1996 and 2013. The results of this research identified that none of the types of financial institutions (public and private presents timely losses during the period-analyzed recognition. Regarding the persistence of financial results, the analyses indicate that the private financial institutions have greater persistence in their accounting results that the public institutions, resulting in greater predictability of future profits on present profits. These results suggest that the financial results of Brazilian financial institutions do not exhibit conservative behavior, moreover, the profits of private companies are more persistent than the public companies.
Our research aims to develop an analysis of the usefulness of financial statements and financial investment in making the diagnosis. Financial analysis is by definition an activity that performance condition is diagnosed entity of the financial year. Financial analysis shall be determined by strengths and weaknesses of financial management based on which will underpin future strategy of the entity to maintain and develop it into a competitive environment. Results of financial analysis depend...
Full Text Available Financial globalization, a complex phenomenon that has multiple facets, is directly influenced by some aspects characterizing the current stage of capitalism. In order to decrypt the set of such interferences, the consequences have been emphasized of the excessive trust in the market mechanisms, the role of deregulation and liberalization in promoting a new economic direction, as well as other theses representing the essence of neo-liberal revolution. The realities specific to the last three decays of the 20th century generated enhanced criticism regarding the myth of pure and perfect transparency, the market inability of self-regulation and the illusion of perfect information.The excesses of neo-liberalism imposed the need for a new paradigm, concretized in the mutations in the nature and mechanisms of capitalism, the domination of finances and knowledge, a paradigm in which market globalization and financial profitability logic are becoming priorities.In the second part of the article the conditions are analyzed that favored the occurrence and expansion of financial globalization, as well as the multiple implications of such over the micro and macro-economical mechanisms. A particular focus is on describing the characteristics of financial globalization in the current phase: the occurrence of new financial players (institutional investors and tools, markets de-localization and un-intermediated financial operations. As a conclusion, the tendencies are noticed of the financial world economy to become fragile, of fading connections between the financial and the real economy, of enhanced risk for financial accidents to propagate. Based on these observations, the extent is emphasized to which financial globalization provides the possibility of the financial crises to occur and expand.
Chunitska Iryna I.
Full Text Available The problems of preventing financial fraud and legalization of funds using mechanisms of the financial market are considered. The relevance of this problem in general and peculiar features of its research in developing economies are substantiated. The experience of organizations created to prevent the legalization of illicit funds is studied. It is determined that new organizations are created in response to the global challenges. It is justified that in Ukraine the fight against the legalization of illicit funds has actualized due to a lack of financial resources in the country, declaration of course towards European values and also as a result of the military conflict in the east of the country. The risk factors for financial fraud and illegal movement of financial flows are systematized according to the groups of conditions: pressure, favorable situation, propensity (justification. It is determined which levels of risk of generating illegal financial flows are inherent in different sectors of the economy depending on institutional factors. It is argued that the increase in the risks of illegal financial flows occurs under conditions of a low level of maturity of the institutional environment and a high level of information asymmetry. Types and tools of fraud in the financial market that increase the risks of illegal financial flows are systematized. It is determined that main types of fraud in the financial market are related to information manipulations and regulatory deficiencies. The world experience of legislative initiatives on counteracting the legalization of funds in financial markets is systematized. It is justified that, in order to prevent financial fraud and prevent legalization of illicit funds in Ukraine, it is necessary to ensure maximum transparency of information on the movement of financial flows in financial markets. In addition, regulators of the financial market should not only cooperate with each other but also prevent
Economic theories of uncertainty are unpopular with financial experts. As sociologists, we rightly refuse predictions, but the uncertainties of money are constantly sifted and turned into semi-denial by a financial economics set on somehow beating the future. Picking out 'bits' of the future as 'risk' and 'parts' as 'information' is attractive but socially dangerous, I argue, because money's promises are always uncertain. New studies of uncertainty are reversing sociology's neglect of the unavoidable inability to know the forces that will shape the financial future. © London School of Economics and Political Science 2014.
Full Text Available The objective of this paper is to examine the determinants of financial inclusion in Africa. We use the World Bank's Global Findex database on 37 African countries to perform probit estimations. We find that being a man, richer, more educated and older favor financial inclusion with a higher influence of education and income. Mobile banking is driven by the same determinants than traditional banking. We observe that the determinants of informal finance differ from those of formal finance. Our work therefore contains findings to design policies to foster financial inclusion in African countries.
Full Text Available The global financial crisis and financial stability issues of the Eurozone countries have demonstrated that the total of financial knowledge and skills of the population that lets people make informed and efficient decisions is of utmost importance. Considering high social importance of financial education, it is necessary to develop a knowledge platform to increase the level of financial literacy. The results obtained in the process of assessment of the level of individual's financial literacy provide information on the factors, which reduce financial efficiency and cause unnecessary costs. Despite a vast body of international experience in the field of financial literacy assessment, one of the main problems is to develop a measuring instrument, which can ensure valid results and can be adapted to the socio-economic and demographic conditions of a definite country. Therefore, in 2015, academic personnel of the Department of Finance, Faculty of Engineering Economics and Management of Riga Technical University conducted research within the project «Enhancing Latvian Citizens' Securitability through Development of the Financial Literacy» and developed an instrument for assessment of the level of financial literacy, which can be used to evaluate financial knowledge of the Latvian citizens taking into consideration all components of financial literacy. The results are briefly described in the current paper.
Full Text Available The aim of the study is to investigate qualitative characteristics of financial reporting in the context of the interests of different groups of users. The subject of research is the financial statements of the enterprise. Methodology. The theoretical base of the study are the provisions of general scientific theory of knowledge studied phenomena and processes, in particular: the methods of induction and deduction (in determining the principles of formation of the financial statements; analysis and synthesis (in establishing the role and importance of reporting to the needs of users comparisons, associations and analogies (the justification of qualitative characteristics of financial statements. The information base for scientific research became scientific papers and publications of domestic and foreign scientists-economists, materials of scientific-practical conferences, legislative and normative documents, the World Bank materials and International Accounting Standards Board. Results of the research showed that in the present conditions of economic activities of Ukrainian enterprises, for the effective functioning of the company, is required to have them control system was adequate to the environment, and this is possible only if the relevant information systems. The financial statement plays a crucial role in the management of the company and is the main source of information about the firm’s financial condition. The basic groups of users of financial statements, depending on the interest that they show to the results of activity of the enterprise: external and internal. External users are classified into direct users and not a direct financial interest. It was determined that the financial statements should meet, first of all, the information needs of users with a direct financial interest, it is this group of users has the most leverage to influence the company. The influence of the quality characteristics of the formation of the real
This Financial Sector Assessment (FSA) provides a summary of the policy priorities, and main findings intended to assist the Moroccan authorities in evaluating the country's financial system. It reviews the uneasy trade-off between concerns for stability, and development, suggesting Morocco's macroeconomic policies and practices as a whole tend to err more on the side of the concerns of pr...
Deregulation of the financial system, and the significant heightening of competition that it produced, has directed attention to the way in which financial institutions price their products and services. Also, the loan losses of the nineties increased interest in the problems of pricing for risk.
Robert J. Shiller
Radical financial innovation is the development of new institutions and methods that permit risk management to be extended far beyond its former realm, covering important new classes of risks. This paper compares past such innovation with potential future innovation, looking at the process that produced past success and the possibilities for future financial innovation.
Castiglionesi, F.; Navarro, N.
We study a financial network characterized by the presence of depositors, banks and their shareholders. Belonging to a financial network is beneficial for both the depositors and banks' shareholders since the return to investment increases with the number of banks connected. However, the network is
World Bank Group
Malaysia has achieved one of the highest levels of financial inclusion among Southeast Asia countries, due in part to policies taking advantage of mobile phones and banking agents to expand access. The report looks at specific actions, programs, and strategies that have contributed to enhance financial inclusion in the country and highlights key learnings to benefit low- and middle-income ...
Brounen, Dirk; Koedijk, Kees; Pownall, Rachel
Greater personal responsibility toward financial decision-making is being advocated on a global basis. Individuals and households are encouraged to take a more active approach to personal finance. In this paper, we examine behavioral factors, which lead households toward savings and financial
van der Zwan, N.
Since the early 2000s, scholars from a variety of disciplines have used the concept of financialization to describe a host of structural changes in the advanced political economies. Studies of financialization interrogate how an increasingly autonomous realm of global finance has altered the
Wood, Marcia R.
This publication is designed to be a desktop reference and assist financial officers in both public and independent institutions of higher education in the preparation of consolidated financial statements. Chapter 1 covers generally accepted accounting principles and other accounting literature, and summarizes reporting rules of the Financial…
... complaint Can’t fix a problem with a financial product or service? Submit a complaint. We’ll work to get ... NOV 13, 2017 Blog Thanking veterans for their service and supporting their financial well-being NOV 09, 2017 Press Release Agencies ...
Velthuis, O.; Coslor, E.; Knorr Cetina, K.; Preda, A.
This article examines the processes through which, since the 1970s, the art market has become more and more a niche market for financial investment, accepted as legitimate by mainstream finance and by economists. It shows that the financialization of art has been an evolving process, and is not yet
Delivering products and services to nuclear power plants operators, AREVA operates in every sector of the civilian nuclear power and fuel cycle industry. This first half financial report provides information on highlights concerning the nuclear power and the connectors, income statement, performance by division (front end division, reactors and services division, back end division and connectors division), cash flow, balance sheet, post-closing events and consolidated financial statements. (A.L.B.)
The diploma thesis "Financial analysis of Tesco and Carrefour" is mainly devoted to understand the economic and financial changes in retail business industry. The main idea is to compare two companies -- Tesco and Carrefour. Comparison consist of deep analysis of changing behaviour over the years of both companies together with analysis of economic data from annual reports which are published every year. It is very important to understand these information, because nowadays is retail industry...
Abstract. This paper focuses on global financial crisis and its implications on the economy of nations. The questions asked to which answers were given among others include: Is the globalization of finance profitable against the backdrop of the failure of banking institutions in the United States of. America that has ...
indexes rose, which indicates the external environment improved so did China’s financial safety status; from 2012 to 2013 indexes declined because due to the rapid development of banks’ financial products and trust products, banks’ off-balance-sheet assets and liquidity risks increased. The changes of financial safety indexes are generally identical with those of China’s financial safety status.Research limitations/implications: In the empirical analysis part, this article tries to selective 24 indicators synthetic index of China's financial security, but due to some of the indicators data acquisition is relatively difficult, can only Selective 10 of 25 indicators and gather the annual data of 10 indicators from 2003 to 2013 to synthetic index. The information of eliminated indicators cannot be reflected in the index. Index change also does not reflect of the risk from these indicators. In order to make up for the above limitations, this paper is mainly to introduce and analysis our latest financial institutions business trends associated with these eliminated indicators to get the conclusions more reliable.Originality/value: The aim of this research is to estimate financial safety of China with the application of the index of financial safety of a country using the annual data of 2003-2013. Through synthetic index of financial security measure the risks of China's financial system, provide the basis for the government macro financial policy. The Originality of the paper is mainly manifested in incorporating factors which have made important impacts on China’s financial safety in recent years, but have not been taken into consideration in the existing studies into the newly constructed financial safety index system. For example, some factors that cannot be controlled easily might have huge hidden risk hazards. To be more specific, factors such as off-balance-sheet business, interbank business and shadow banking might trigger liquidity risks. In this way, the
Full Text Available This study attemps to determines the effects of variable implementation of IFRS 8 which differs in IFRS 8 positive frame, IFRS 8 negative frame, PSAK 5 positive frame, and PSAK 5 negative frame toward non profesional investor’s interpretation. This experiment study is an experiment with factorial design 2x2 between subject. The subject is 120 participants from accounting undergraduate students of Muhammadiyah Yogyakarta University as a subtitute of non professional investors. Data analysis used to test hypotetical result is multiple regression with additional analysis using SPSS ver. 16. The results show that segment information in IFRS 8 with positive frame positive and significantly affect non professional investor’s interpretation than those in PSAK 5 with positive frame. In contrast, segment information in PSAK 5 with negative frame positive and significantly affect non professional investor’s interpretation than those in IFRS 8 with negative frame. This study proves that assessment and individu interpretation can be affected by framing and Prospect Theory plays a role in option choosing and the assessment. There is no difference in interpretation by investor non professional when the information given such as difference format
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
Victor Munteanu; Marlena Neagu; Cristina Maria Gheorghian
In this context the influence of principles and corporate governance codes regarding the structuring and the quality of reports’ financial and accounting information represents the basis of a quality financial report analysis. And this is due to the importance of the current research resulted from the impact phenomena and accounting trends as well as from the degree of information transparency (the central problem of corporate governance codes) on the economic decisions of financial and accou...
RADU VASILE POP
Full Text Available The information supplied by the financial statements based on creative accounting presents a large number of characteristics: the usefulness of information in the decision making process, the relevance (pertinence, reliability (objectivity or credibility, opportunity (meeting deadlines, predictive value, retrospective value, verifiability, neutrality, fidelity, prudence, continuity, importance, balance between cost and benefits, complete character (completeness, the absence of misleading elements, intelligibility, comparability. Detecting creative accounting influences on financial statements is the role of the financial auditor who can correct these deviations.
Full Text Available The article shows methods of assessment of the financial liquidity of an enterprise. Static, dynamic and non-classic methods of the financial liquidity assessment have been shown. The following static methods are discussed: construction and information content of current indicator, rapid indicator and indicator of an instant liquidity. In the case of dynamic part, indicators were shown of cash efficiency and sufficiency i.e. criteria of financial liquidity assessing based on the financial circulations. Moreover, chosen methods were mentioned of the financial liquidity assessment, which are less frequently used in practice, which are called non-classic.
Asongu, Simplice A.; Koomson, Isaac; Tchamyou, Vanessa S.
Purpose – This study assesses the effect of time-dynamic financial globalisation uncertainty on financial development in 53 African countries for the period 2000-2011. Design/methodology/approach – Financial globalisation uncertainty is estimated as time-dynamic to capture business cycle disturbances while all dimensions identified by the Financial Development and Structure Database of the World Bank are employed, namely: financial depth (money supply and liquid liabilities), financial sy...
Adam Steen; David MacKenzie
Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might hel...
This paper examines the link between financial openness and financial development through panel data analysis on advanced and emerging market countries. Using indices, financial openness together with institutional and educational variables explains a large part of the variation in financial development across countries and over time. Our analysis demonstrates that different indexing strategies serve in finding better measures for financial openness and financial development in comparison to ...
... Financial Management Service; Privacy Act of 1974, as Amended; System of Records AGENCY: Financial... the Privacy Act of 1974, as amended, the Financial Management Service gives notice of a proposed new... send your comments to Peter Genova, Deputy Chief Information Officer, Financial Management Service, 401...
The paper analyzes financial planning efficiency for enterprise management improvement. The author describes the system of financial tools and considers in detail financial planning methods, their strengths and weaknesses
Margot S. Geagon
Full Text Available Most companies listed on the Standard & Poor’s 500 (S&P 500 index have smoothed reported earnings since the 1990s inspiring questions from regulators about the accuracy of financial statements. In 2002, the Sarbanes-Oxley Act (SOX was issued to eradicate earnings management activities and improve transparency in financial reporting. Although many studies have been conducted to evaluate changes in reporting requirements, much less is known about the effectiveness of these regulations on earning smoothing with discretionary accruals (DA. Accordingly, this study was an investigation of DA from 2002 to 2011. In addition, this study included an evaluation of DA before and after the financial crisis of 2008. This study is a quasi-experimental research design where 330 observations from the U.S. financial industry segment were used for the analysis. The Modified Jones model was used to separate DA and repeated measures analyses of variance were used to assess differences in levels before and after the financial crisis of 2008. The findings suggest DA activities are decreasing but represent over 50% of total net accruals (TNA for all years. Improved financial regulation is needed. The study contributes to positive social change by providing regulators and investors with new information about accruals for income conservative firms by segmenting DA within the financial industry segment.
Dueker, S.; Gustafson, L.
A computerized library acquisition system developed for control of informational materials acquired at NASA Ames Research Center is described. The system monitors the acquisition of both library and individual researchers' orders and supplies detailed financial, statistical, and bibliographical information. Applicability for other libraries and the future availability of the program is discussed.
Hsu, H. Christine
In today's information technology world, real time financial data is readily available via many financial websites, such as MSN Money, Google Finance, Yahoo Finance, etc. The incorporation of computer technology in finance classes has become more popular than ever in this information technology rich environment. Mediated classrooms have rapidly…
Full Text Available From the perspective of financial or managerial accountant, subject of interest in this paper is the relationship of financial and managerial accounting in the hotel business. Being necessary functions within the business system of hotel company, their mutual connection as well as their differences are explained. The management of hotel company makes decisions based on accounting information from both parts of accounting. As support to hotel management in decision-making, financial accountant provides financial information about past events, while managerial accountant provides non-financial information oriented toward future. The example above is just one out of many specific tasks, which are performed by accountants of specific part of hotel accounting system. Without their support, the management could not make correct and timely decisions with certainty. The importance of the roles of financial and managerial accountant is reflected through need for a wide knowledge in the field of accounting in specific business conditions of hotel industry.
Just, Sine Nørholm; Mouton, Nicolaas T.O.
between competing frames leads to the conclusion that this political “blame game” is related to struggles over how to define the scandal, how to conceptualize its causes, and policy recommendations. Banks may have lost the battle of “Liborgate,” but the war over the meaning of financial culture is far...... from over. Originality/value – The paper is theoretically and methodologically original in its combination of the theories of framing and stasis, and it provides analytical insights into how sense is made of financial culture in the wake of the financial crisis....
This paper investigates the Swedish tax authority’s (Skatteverkets) compliance initiative called Preventing Financial Crime. In Sweden tax evasion related to organised moon-lighting is defined as a major risk to the revenue collection and to the legitimacy of Skatteverket. The traditional approach...... to abating such tax evasion has been reformed and a new mix-method approach adopted. This approach combines a proactive strategy—Preventing Financial Crime—with a reactive inspection strategy. During one a month of intensive fieldwork in Sweden, I studied the daily work in Preventing Financial Crime. Based...
María del Carmen CABA PEREZ
Full Text Available The disclosure of financial documents can be extremely significant for improving information transparency as part of the management of financial resources to render public sector services. Therefore, this research focuses on the role played by new technologies in this respect, particularly in promoting the transparency of financial information documents and on the key determinants to make financial documents available on the World Wide Web. To achieve this aim, an empirical test is made of models we propose, to discover whether the national websites of OCDE countries are using the Internet to provide citizens with governmental budgetary transparency and whether this disclosure is influenced by socio-economic factors. The results of the study confirm that factors previously found to be important in paper-based reporting, such as education level, population, internet access or fiscal pressure seem to have no influence on the public financial information disclosed on the Internet. Only debt seems to be a relevant factor in the degree of information transparency achieved via the Internet for accountability documents.
María del Carmen CABA PEREZ
Full Text Available The disclosure of financial documents can be extremely significant for improving information transparency as part of the management of financial resources to render public sector services. Therefore, this research focuses on the role played by new technologies in this respect, particularly in promoting the transparency of financial information documents and on the key determinants to make financial documents available on the World Wide Web. To achieve this aim, an empirical test is made of models we propose, to discover whether the national websites of OCDE countries are using the Internet to provide citizens with governmental budgetary transparency and whether this disclosure is influenced by socio-economic factors. The results of the study confirm that factors previously found to be important in paper-based reporting, such as education level, population, internet access or fiscal pressure seem to have no influence on the public financial information disclosed on the Internet. Only debt seems to be a relevant factor in the degree of information transparency achieved via the Internet for accountability documents.
Full Text Available This paper discusses the role that financial innovations play in the modern financial system, aiming at identifying and systematizing the core problems and definitions related to this issue. The paper first describes the importance of the financial system and financial markets in the economy, explaining their functions and presenting their particular characteristics, focusing on their innovativeness. Then, based on the theoretical studies, the broad definition of the financial innovations is developed, stating that any new developments in any elements of the financial system, including: markets, institutions, instruments and regulations, can be regarded as financial innovations if they are perceived as new by the end-user of innovation. Next, the systematization of the most important types of financial innovations is presented regarding different classification criteria, such as: sources of innovations, motives for innovations, their effects or functions. As financial innovations are not a homogenous group of financial developments, their implications for the financial system can be ambiguous, thus the final assessment of their role can not be generalized and should be made on a case-by-case basis. The information presented in this paper can be regarded as an introduction, encouraging to do further research, as the complexity of the financial innovations makes them an interesting and important subject for this.
... of objectives in line with the strategic policies of the entity. Measuring the financial performance without considering the strategic, tactical and operational objectives does not provide a real situation...
Millennium Challenge Corporation — The final evaluation of the Financial Services Project (FSP), undertaken by North South Consultants Exchange (NSCE), was undertaken from 17 April to end of September...
Arezo, Gullab; Billingslea, Willie D; Brooks, James V; Brown, Jeffery D; Cotton, Cheryl; Determan, Deborah A; Dzurenko, Monte S; Egentowich, John; Greenwald, Michael N; Keegan, Matthew
.... The financial services industry impacts the daily lives of all Americans. They rely on it to save for their retirement and their children's education, pay their bills, insure against risks, and buy their homes and automobiles...
This textbook on Basic Financial Accounting is targeted students in the economics studies at universities and business colleges having an introductory subject in the external dimension of the company's economic reporting, including bookkeeping, etc. The book includes the following subjects...
F R (Rhys) Robinson
.... This is particularly the case when an organisation grows in size and complexity, and you are still required to use spreadsheets for the main function of consolidation and reporting of financial results...
Full Text Available Since the last three decades, in developed and developing counties the liberalization and openness efforts have been witnessed. However, financial liberalization attempts (both internal and external without having macroeconomic stability lead to financial crises in many developing countries. Macroeconomic instabilities create fragile financial markets paving the way for future economic crises. The Turkish Economy, completed the liberalization process with foreign trade liberalization in 1980 and by removing controls on capital accounts in 1989. However, since 1990’s economy got into ‘growth-instability-crisis’ vicious circle, because of the fluctuations in the financial structure. By employing a factor analysis (principal components analysis, this work, aims to obtain the factors that effect crises in Turkey.
Eyo Asro Sasmita
Full Text Available This research is aimed to test and identify empirical evidence regarding the effect of capital structure and loan to financial performance of cooperative where the relationship between loan and financial performance is moderated by non-performing loan. The population of this research is 257 Financial Service Cooperative hereinafter referred to as KJK as the abbreviation for Koperasi Jasa Keuangan of Urban Village Community Economic Empowerment hereinafter referred to as PEMK as the abbreviation for Pemberdayaan Ekonomi Masyarakat Kelurahan in Jakarta 2011 to 2013. Sample is determined by using purposive sampling method. The data is secondary data which is obtained from the Revolving Fund Management Unit hereinafter referred to as UPDB as the abbreviation for Unit Pengelola Dana Bergulir Jakarta. Hypothesis is tested by using multiple linear regression analysis with SPSS 20.00. The number of sample used in this research is 120. Research findings explain that 1 Capital Structure hereinafter referred to as SM as the abbreviation for Struktur Modal has positive and significant impact on financial performance hereinafter referred to as KIN as the abbreviation for Kinerja Keuangan because the probability value of 0000 is smaller than amp945 0.05. Calculation shows that if the capital structure rises 1 assuming that the loan and non-performing loan variables remain the same then the financial performance will increase 0.017. 2 Loans hereinafter referred to as PIN as the abbreviation for Pinjaman given has positive and significant impact on KIN because the probability value of 0001 is smaller than amp945 0.05. If the loan rises 1 assuming that the capital structure and non-performing loan variables remain the same then the KIN will increase 0.013. 3 Non-performing loan has negative and significant effect on KIN because the probability value of 0000 is smaller than amp945 0.05. PBR varible increase 1 assuming that the loan and capital structure variables
Full Text Available Due to the low funding levels registered in recent years in the NGO sector in Romania, many NGOs have faced a number of difficulties, some of them have ceased to carry on business. Financial position of the governmental sector is poor, especially for large organizations that are strictly dependent on foreign funds. For the good functioning of NGOs activity, it is requiring a constant concern for finacial fundraising. The article aims to present the diversity of financial resources of NGOs.
Full Text Available This paper based on the perspective of firm’s agency conflicts to examine the relationship between financial reporting quality and investment efficiency and to analyze the interaction effect between financial reporting and free cash flow on investment efficiency. We use 3,726 samples of Chinese listed firms during the period 2008–2012 to test the empirical models and find that financial reporting quality is negatively associated with both underinvestment and overinvestment. Further, we find that financial reporting quality is more strongly associated with overinvestment for firms with large free cash flow, which suggests that financial reporting quality can reduce information asymmetry arising from agency conflicts between the managers and investors. This paper extends the field of application of financial reporting quality and investment efficiency in the emerging capital markets in the world. Moreover, this is the first study that analyzes the interaction effect between financial reporting quality and free cash flow on investment efficiency.
Lusardi, Annamaria; Mitchell, Olivia S.
This paper undertakes an assessment of a rapidly growing body of economic research on financial literacy. We start with an overview of theoretical research which casts financial knowledge as a form of investment in human capital. Endogenizing financial knowledge has important implications for welfare as well as policies intended to enhance levels of financial knowledge in the larger population. Next, we draw on recent surveys to establish how much (or how little) people know and identify the least financially savvy population subgroups. This is followed by an examination of the impact of financial literacy on economic decision-making in the United States and elsewhere. While the literature is still young, conclusions may be drawn about the effects and consequences of financial illiteracy and what works to remedy these gaps. A final section offers thoughts on what remains to be learned if researchers are to better inform theoretical and empirical models as well as public policy. PMID:28579637
Full Text Available The development of big business in Ukraine has led to the need to release a number of domestic companies and their groups and associations to the international financial market which was the prerequisite of the needs of users of financial statements to obtain reliable information about the activities of such companies. In accordance with the national legislation associations of enterprises and companies have to provide the consolidated financial statements which contain the pooled indices about the activities of these entities. The article analyzes the current state of normative and legal regulation of financial reporting consolidation process in Ukraine. In particular, the paper determines the basic legal acts of regulations of national and international governing process of preparation of consolidated financial statements; it also determines the circle of business entities required to draw up the consolidated financial statements solely in accordance with international financial reporting standards.
... of federal assets at risk of fraud and misuse, financial information at risk of unauthorized modification or destruction, sensitive information at risk of inappropriate disclosure, and critical operations at risk of disruption...
Collins, J. Michael; Olive, Peggy; O'Rourke, Collin M.
Financial coaching is an emerging complement to financial education and counseling. As defined in this article, financial coaching is a process whereby participants set goals, commit to taking certain actions by specific dates, and are then held accountable by the coach. In this way, financial coaching is designed to help participants bridge the…
Full Text Available Broad and narrow approaches of the financial system are obtained. The difference between the financial system and the financial sector (the fi-nancial corporations sector is shown. Organizational and institutional matrix of the financial system of the economy is proposed. Key positions of institutional sectors classification of Ukraine’s economy are analyzed, as well as the System of National Accounts with respect to the financial sec-tor of corporations. The structure of the sector of financial corporations in Ukraine is defined.
measure a firm’s profitability. The nature of financial ratios and their advantages are explained by Baruch Lev , in Financial Statement Analysis: A New...in Baruch Lev , Financial Statement Analysis: A New Approach (Englewood Cliffs, N.J.: Prentice-Hall, Inc., 1974), pp. 3637. 2See Financial Statement...Evaluation of Solvency. New York: American Institute of Certified Public Accountants, 1978. Lev , Baruch . Financial Statement Analysis: A New Approach
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This paper provides an empirical analysis of the role of financial development and financial integration in the growth dynamics of transition countries. We focus on the role of financial integration in determining the impact of financial development on growth, distinguishing “normal times” from periods of financial crises. In addition to confirming the significant positive effect on growth exerted by financial development and financial integration, our estimates show that a higher degree of financial openness tends to reduce the contractionary effect of financial crises, by cushioning the effect on the domestic supply of credit. Consequently, the high reliance on international capital flows by transition countries does not necessarily increase their financial fragility. This implies that financial protectionism is a self-defeating policy, at least for transition countries.
critical to Wave 2 and Wave 3.70 The panel noted that although information was provided for select ERP systems in the May 2011 FIAR Plan Status Report...strategy and methodology , (2) challenges to achieving financial management reform and auditability, (3) financial management workforce, and (4...Support System ERP enterprise resource planning FIAR Financial Improvement and Audit Readiness FIP financial improvement plan FMR Financial
Full Text Available Using a simplified approach it may be stated that the financial accounting theoretical framework is structured on three levels. At the first level, reference is made to the accounting objectives. These objectives are fundamental for the theoretical framework. At the second level, we find the accounting information characteristics and explicit mentions about the headings of financial statements. The mentioned characteristics of accounting information represent the basic issues for ensuring its utility. The headings represent the main categories of elements disclosed in the financial statements, like assets and liabilities – these two elements’ definitions brought radical changes both in the accounting thinking and practices. Overall, the second level’s components represent the basis for building the practice directives as a matter of recognition (identification and measurement (evaluation. Inside the third level, the recognition and measurement directives are being detailed, which will be further used by the accounting specialist in order to identify and apply the accounting standards. These two directives enclose postulates, principles and restrictions. Such specifications prove to be useful whenever precise answers must be given to relative financial information issues. Usually, it is accepted that the theoretical framework, also called the accounting framework is the standard-setting, metaphorically speaking is actually the constitution of financial accounting, or in other words, its reference matrix.
Burke, Darrell; Randeree, Ebrahim; Menachemi, Nir; Brooks, Robert G
This study examined whether information technology (IT) governance, a term describing the decision authority and reporting structures of the chief information officer (CIO), is related to the financial performance of hospitals. The study was conducted using a combination of primary survey data regarding health care IT adoption and reporting structures of Florida acute care hospitals, with secondary data on hospital financial performance. Multiple regression models were used to evaluate the relationship of the 3 most commonly identified reporting structures. Outcome variables included measures of operating revenue and operating expense. All models controlled for overall IT adoption, ownership, membership in a hospital system, case mix, and hospital bed size. The results suggest that IT governance matters when it comes to hospital financial performance. Reporting to the chief financial officer brings positive outcomes; reporting to the chief executive officer has a mixed financial result; and reporting to the chief operating officer was not associated with discernible financial impact.
Cordella, Tito; Ospino Rojas, Anderson
This paper computes a new financial globalization index for a large sample of countries for 1992-2016. Unlike other measures, the financial globalization index corrects for the heteroscedasticity of global volatility. This leads to a downward adjustment of financial globalization trends for developed, emerging, and frontier markets. The paper also shows that financial globalization reduces...
Farooq, Omar; El Ouadrhiri, Khadija
How does location of a firm’s headquarter impact its performance during the crisis period? This paper answers this question by using the data from India. Our results show that firms headquartered in Mumbai, the main financial center of the country, significantly outperform other firms during...... the recent global financial crisis. We argue that firms headquartered in the financial center have better information environment than other firms. One of the channels via which improvement in information environment takes place is the clustering of firms in the financial center. We believe that, for any...... given level of resources, it is relatively cost effective for stock market participants to expend their resources on clustered firms to obtain value relevant information than on dispersed firms, thereby improving information environment of firms headquartered in the financial centers relative to other...
Full Text Available State aid represents selective measures of public financial support granted for activities or areas to achieve general objectives, such as environmental protection, development of SMEs, development of disadvantaged areas, rescue and restructuring strategic businesses, etc. But, even if the public authorities support economic development, the state aids can distort normal competitive environment. It is therefore necessary to develop and implement precisely rules on how the public authorities can intervene on market by providing state aids. State aid may be compatible if it pursues clearly defined objectives of common interest with the general beneficial effects on economic development, and does not affect the trade between European Union Member States.
Gerlein, EA; McGinnity, TM; Belatreche, A; S Coleman
Technical and quantitative analysis in financial trading use mathematical and statistical tools to help investors decide on the optimum moment to initiate and close orders. While these traditional approaches have served their purpose to some extent, new techniques arising from the field of computational intelligence such as machine learning and data mining have emerged to analyse financial information. While the main financial engineering research has focused on complex computational models s...
Karling, J; Silberman, L
The 1999 collapse in California of practice management giants FPA Medical Management, Inc. and MedPartners, Inc. has caused healthcare provider organizations, particularly independent practice associations (IPAs), to examine critical issues related to financial solvency. Problems such as declining membership, ineffective management, weak contracting, and lack of strategic vision frequently are encountered by troubled provider organizations. The common thread that runs through IPA failures is a combination of unreliable accounting data and inadequate reporting systems. This lack of satisfactory financial and reporting information impairs the ability of the provider group to maintain sufficient funds to cover expenses and pay physicians. Successful, financially stable provider networks use well-defined reporting procedures based on fundamental accounting and financial concepts, as well as a sound methodology for measuring and calculating claims liability estimates. In California, new regulations aimed at encouraging provider organizations to assume preemptive financial strategies are in the process of being adopted. IPAs in every state should consider reviewing these regulations as benchmarks by which to assess their financial procedures.
Choustova, Olga Al.
We apply methods of quantum mechanics for mathematical modeling of price dynamics at the financial market. The Hamiltonian formalism on the price/price-change phase space describes the classical-like evolution of prices. This classical dynamics of prices is determined by “hard” conditions (natural resources, industrial production, services and so on). These conditions are mathematically described by the classical financial potential V(q), where q=(q1,…,qn) is the vector of prices of various shares. But the information exchange and market psychology play important (and sometimes determining) role in price dynamics. We propose to describe such behavioral financial factors by using the pilot wave (Bohmian) model of quantum mechanics. The theory of financial behavioral waves takes into account the market psychology. The real trajectories of prices are determined (through the financial analogue of the second Newton law) by two financial potentials: classical-like V(q) (“hard” market conditions) and quantum-like U(q) (behavioral market conditions).
Full Text Available This paper attempts to delineate from a theoretical of view the financial data series relative to other statistical data, starting from the financial econometrics’ models and from the resulting features of the specific descriptive statistics’ analysis of these characteristic series. From the analysis of these financial data during either very short and short or medium periods of time or from the information provided by the website of the Bucharest Stock Exchange (BVB, the trend of great values of kurtosis or eccentricity and skewness or asymmetry of series appears as a characteristic tendency. During a long period of time, between 1920 and 2008, this tendency seems to be more relevant, being confirmed by an excerpt from the author’s earlier paper written in 2009, concerning the statistical Dow Jones Industrial Average Index (DJIA Index. The skewness, kurtosis and normality of data distribution analysis, using Jarque Bera test, along with the identification of residual autocorrelation or serial correlation in the presence of significant residual values and heteroskedasticity are the major evaluated aspects. Finally, the author investigates the optimal way to ensure statistical comparability inflationary and deflationary method for financial series of data, and offers a solution to the selection of the appropriate indicator from the categories of the absolute values, absolute variation of the absolute values and the relative variation of the absolute values, expressed by percentages, with the finding of the latter alternative as the best alternative in the world of financial modelling of the economic and financial processes and phenomena.
This paper examines issues of corporate governance arising from the activities of financial institutions and markets. It is argued that governance problems are particularly severe in financial institutions vis-a-vis firms in other industries, and particularly important for society given the central role of financial institutions and markets in the financing and corporate governance activities of the economy. Processes of financial reform and financial system design have, it is argued, general...
Gaskill, Trevor; Cook, Chad; Nunley, James; Mather, R Chad
Previous reports have compared the expected financial return of a medical education with those expected in other professions. However, we know of no published report estimating the financial return of orthopaedic training. The purpose of this study was to estimate the financial incentives that may influence the decision to invest an additional year of training in each of the major orthopaedic fellowships. With survey data from the American Academy of Orthopaedic Surgeons and using standard financial techniques, we calculated the estimated return on investment of an additional year of orthopaedic training over a working lifetime. The net present value, internal rate of return, and the break-even point were estimated. Eight fellowships were examined and compared with general orthopaedic practice. Investment in an orthopaedic fellowship yields variable returns. Adult spine, shoulder and elbow, sports medicine, hand, and adult arthroplasty may yield positive returns. Trauma yields a neutral return, while pediatrics and foot and ankle have negative net present values. On the basis of mean reported incomes, the break-even point was two years for spine, seven years for hand, eight years for shoulder and elbow, twelve years for adult arthroplasty, thirteen years for sports medicine, and twenty-seven years for trauma. Fellowship-trained pediatric and foot and ankle surgeons did not break even following the initial investment. When working hours were controlled for, the returns for adult arthroplasty and trauma became negative. The financial return of an orthopaedic fellowship varies on the basis of the specialty chosen. While reasons to pursue fellowship training vary widely, and many are not financial, there are positive and negative financial incentives. Therefore, the decision to pursue fellowship training is best if it is not made on the basis of financial incentives. This information may assist policy makers in analyzing medical education economics to ensure the
El trabajo de investigación realizado para la obtención del grado de Doctor en Economía se compone de tres trabajos en dos áreas de Economía Financiera, Finanzas Corporativas y Valoración de Activos, con fundamentos teóricos de la Microeconomía. El primer capítulo analiza el papel de los directores \\interlocking" (directores presentes en los consejos de administración de dos empresas diferentes de manera simultánea) como transmisores de información durante la selección de pote...
Full Text Available The actual economical conditions, the effect of global crisis and the efforts to pass this turning point, does force trading companies toward an extremely balanced management of performance. Now, when financial indicators are neither so spectacular nor so relevant, and when the principles of a durable development are mentioned over and over, the exigencies of companiesâ€™ external environment are higher and higher. This reality does force the companies to pay more attention to social responsibilitiesâ€™ assuming and investment into green innovation, as well as to the field of informationâ€™s communication in a relevant way, which should gather financial, social and environment information. The absence of a normalized balance of financial and non-financial indicators used in measuring companiesâ€™ global performance, does allow them selecting of â€œagreedâ€ indicators which should reflect the company under the light of high performance. But, the same reason urges the searcher for some research studies of the most adequate diagnostic model of global performance, which should faithfully reflect companyâ€™s current status. The purpose of this study is to measure the global performance of ANTIBIOTICE Trading Company, taking into account, both financial and non-financial indicators for a period of 5 years. For the financial years 2006 and 2008 companyâ€™s global performance is an acceptable one, while for the financial years 2007, 2009 and 2010 the global performance is a medium one. It should be highlighted the lack of involvement or transparency regarding social and environment responsibility in 2006 and weak financial performance in 2008, indicators which positioned the company to an acceptable level.
Deville, Joe; Lazarus, Jeanne; Luzzi, Mariana
Millions of lives in almost every corner of the world are increasingly being shaped by consumer-oriented financial services and products. Whether it is the middle classes or those at the bottom of the social and economic pyramid, both their social opportunities and sources of social exclusion...... are affected by their everyday participation in finance. From geographers describing the intimacies of contemporary financial ecologies, to sociological studies comparing personalized and quantified credit assessments, to detailed work within science and technology studies on how monetary devices shape...... conditions of calculative possibility, to the ethnographic assessments of domestic financial and budgetary practices carried out by cultural anthropologists: there is no doubt that recent years have witnessed a proliferation of research that documents the significance of domestic money and debt management...
Full Text Available The rules laid down by Romanian Capital Market Law and the regulations put in force for its implementation apply to issuers of financial instruments admitted to trading on the regulated market established in Romania. But the issuers remain companies incorporated under Company Law of 1990. Such dual regulations need increased attention in order to observe the legal status of the issuers/companies and financial instruments/shares. Romanian legislator has chosen to implement in Capital Market Law special rules regarding the administration of the issuers of financial instruments, not only rules regarding admitting and maintaining to a regulated market. Thus issuers are, in Romanian Law perspective, special company that should comply special rule regarding board of administration and general shareholders meeting.
Pedro Manuel Sosa San Martín
Full Text Available En este estudio se evaluó el retorno financiero de la implantación de un sistema de información de venta de envío de paquetes (encomiendas desarrollado in-house en una empresa de transporte interprovincial de carga en Lima mediante la variación del procedimiento 059 de la metodología MAIGTI, el cual sugiere evaluar el valor actual neto considerando ingresos adicionales (margen de contribución adicional y ahorros y egresos adicionales (inversiones adicionales y gastos adicionales con una tasa mínima atractiva de retorno en un período de evaluación similar al período de planificación de largo plazo según el tipo de entidad en que se realizó la evaluación. La implantación del sistema de información de encomiendas dio como resultado para el primer año un valor actual neto de S/. 138.070 nuevos soles (aproximadamente US$ 48.446 y llegando para el tercer año a un valor actual neto de S/. 1.178.996 nuevos soles (aproximadamente US$ 413.683, gracias al aumento de la lealtad del cliente debido a una reducción del tiempo al 70% en la emisión de comprobantes y evitar pérdidas debido a que una proporción de los clientes no contrataban el servicio porque la emisión de facturas era manual. El estudio demostró también que la variación del procedimiento 059 de la metodología MAIGTI es válida para la evaluación del retorno financiero de un sistema de información en una empresa de transportes.In this study was evaluated the financial results after the implantation of an information system for selling shipping of packages, developed in-house in an inter-carrier charge in Lima through the variation of procedure 059 of MAIGTI methodology, which suggests the evaluation of the net present value considering additional incomes (contribution margin and savings and additional expenses (additional investments and additional expenditures with a discount rate in a evaluation period similar to long term planning period according to the type of
Dessislava Kostova – Pickett
Full Text Available We will start with an analysis structure that defines the key areas in which long-term funding sources will be analyzed and attracted. We will then look at the techniques for calculating the impact on the company's financial performance caused by the introduction of new capital from each of the major sources. We will turn to the often used form of graphing, EBIT (break before interest and tax break-even chart to demonstrate the dynamic impact of financial choices, which changes the company's situation. Once we touch the leases as a special source, we will list the key issues involved in the stock options.
Hull Kristensen, Peer
to the exclusion of other perspectives; the first was an emphasis on the problems of the financial sector, of interest rates and state finances; the second was that Danish productivity increases were falling behind other comparable countries and part of the solution required new strategies towards labour...... within the EU institutions as well as among the international financial institutions such as the IMF and the World Bank, that a period of austerity and fiscal consolidation was the required remedy, even though this was likely to be pro-cyclical in its effects. However, the paper shows that alternative...
Benjamin F. Cummings
Full Text Available This paper reviews economic theory related to investment advice. This theory explains 1 why financial advisors need to be carefully regulated for the benefit of both the investment advice industry and for consumers, 2 why principles-based regulation (e.g., a fiduciary standard is more efficient than rules-based regulation, 3 why dual regulation of financial professionals providing investment or insurance advice is inefficient and inequitable policy, and 4 why the application of a universal and uniform fiduciary standard will be difficult to implement.
... 9000-AM00 Federal Acquisition Regulation; Updated Financial Accounting Standards Board Accounting... accounting standards owing to the Financial Accounting Standards Board's Accounting Standards Codification of Generally Accepted Accounting Principles. DATES: Effective Date: February 2, 2012. FOR FURTHER INFORMATION...
The overall audit objective was to assess management controls and compliance with laws and regulations to produce accurate information for financial statements required by the Chief Financial Officers Act...
This thesis is focused on the financial analysis of Pivovary Staropramen Company. The work is divided into theoretical and practical. The theoretical section explains the general scope of financial analysis, sources of information for financial analysis, users of financial analysis and most importantly, the methods of financial analysis. The practical part is devoted to the application of financial analysis by Pivovary Staropramen Company. Conclusion is drawn about the financial health of the...
In recent times, there has been a spate of dramatic increase in Economic and financial crimes across the globe. ... and the more sophisticated Information. Communication. Technology. (ICT), fraudsters will continue to fine-tune their tactics towards more fraudulent practices. It ... of deception, and its effects, introduced into.
Cull, Robert; Lin, Justin Yifu; Demirgüç-Kunt, Asli
In this article the authors use quantile regressions to assess the relationship between economic and financial development at each percentile of the distribution of economic development. Thus; the quantile regressions provide information on how the associations between economic development and both bank and securities market development change as countries grow richer.
Nigeria is going to adopt International Financial Reporting Standard (IFRS) from 1st January 2012. Globalization and Information and Communication Technology (ICT) has reduced the world to a global village. This has given rise to the continuous integration of the world economy and capital markets which has in turn ...
The development of management control financial reporting systems for airport operation is discussed. The operation of the system to provide the reports required for determining the specific revenue producing facilities of airports is described. The organization of the cost reporting centers to show the types of information provided by the system is analyzed.
Glode, V.; Green, R.C.; Lowery, R.
We show that firms intermediating trade have incentives to overinvest in financial expertise. In our model, expertise improves firms’ ability to estimate value when trading a security. Expertise creates asymmetric information, which, under normal circumstances, works to the advantage of the expert
... ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Article 8 Financial Statements of... cumulative financial information from inception. Instruction 1 to § 210.8-03: Where Article 8 is applicable...
which applies in the context of law enforcement and related activities i.e. the gathering of information about the financial affairs of .... act (Financial Intelligence Inc., 2008). It will be wonderful if kids have this ..... alcohol, night outs gambling (if one plans to gamble, it is better to gamble in a business), vacation and country ...
... ADMINISTRATION 12 CFR Parts 741 and 748 RIN 3313-AE25 Filing Financial and Other Reports AGENCY: National Credit... to amend its ] regulations regarding filing financial, statistical, and other reports and credit... information as required by the Board.\\1\\ The Act directs each FICU to make reports of condition to the Board...
... 7 Agriculture 3 2010-01-01 2010-01-01 false Financial interest of a scientist. 91.18 Section 91.18 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Standards... SERVICES AND GENERAL INFORMATION Laboratory Service § 91.18 Financial interest of a scientist. No scientist...
... Office of Thrift Supervision Financial Management Policies--Interest Rate Risk AGENCY: Office of Thrift... following information collection. Title of Proposal: Financial Management Policies--Interest Rate Risk. OMB... burden for maintaining data in accordance with OTS's regulation on interest rate risk procedures, 12 CFR...
Allan, Ronald Gage; Hermsen, Al
Asserting that confusion about the treatment of merit-based or categorically-based aid has revealed the need for a generalized financial aid reporting methodology, suggests a procedure for financial aid reporting that recognizes differing treatment of need-based aid before and after awarding. Offers general information about the theoretical…
Abstract. Although both formal and informal financial institutions exist in developing economies, firms are often constrained by lack of access to financial services. ... Without improved and regular access to finance, grain traders and millers cannot make the necessary investment to provide effective marketing services for the ...
Office 2004 Test Drive User
Sep 30, 2014 ... condensed interim financial statements (beginning on page 11). Disclosures and information presented in IDRC's Annual Report 2013-2014 apply to the current quarter unless otherwise indicated. Performance. Figure 1: FINANCIAL HIGHLIGHTS. (for the six months ended 30 September). 92.7. 97.6. 114.8.
Bell, Reginald L.
This article presents an interview with Ray Gonzalez, a risk consultant at Deloitte & Touche LLP, in Houston, Texas, about the financial reporting responsibilities of top, middle, and frontline managers in large and medium-size firms. This interview spotlights the necessity for timely and accurate reporting of financial information relating to…
This study explored whether financial leaders and institutional governing boards use financial indicators as a tool to inform decision making, solely as a compliance measurement tool, or not at all. The purpose of this qualitative study was two-fold to: (a) identify the use of financial indicators in strategic decision making, and (b) investigate…
Full Text Available This paper explores the recent series of financial scandals in the Australian financial advice industry. It examines the causes, consequences and responses to theses scandals by financial institutions, investors and regulators through the lens of relevant finance theory and extant literature. Although the paper focuses on the recent Australian experience the discussion and findings presented are of relevance to financial market regulation worldwide. It is proposed that a combination of compensation, education, training and structural reforms are required to reduce the undesirable effects of information asymmetry, adverse selection and moral hazard in the finance sector.
Poulsen, Rolf; Rasmussen, Kourosh Marjani
In the basic Markowitz and Merton models, a stock’s weight in efficient portfolios goes up if its expected rate of return goes up. Put differently, there are no financial Giffen goods. By an example from mortgage choice we illustrate that for more complicated portfolio problems Giffen effects do...
The tempestuous rise of finance in contemporary capitalism has incited a frantic search for new conceptual tools to make empirical and theoretical sense of it. Financialization and the theoretical connotations it carries, is one such new conceptual tool. Although a growing number of scholars are
Taylor, Michael G.
This report synthesizes experiences in a number of countries (United Kingdom, Netherlands, Germany, Australia, Japan) on the market economy in higher education. Considered are market forces, various financial structures (institutional budgets, student funding, research infrastructure, other income, staffing), and implications for the future. (MSE)
van Raaij, W.F.
Consumer financial behavior is a domain between micro-economics, behavioral finance, and marketing. It is based on insights and behavioral theories from cognitive, economic, and social psychology (biases, heuristics, social influences), in the context of and sometimes in conflict with micro-economic
Vera-Toscano, Esperanza; Ateca-Amestoy, Victoria; Serrano-Del-Rosal, Rafael
This paper aims to contribute further research on the conceptualization of individual financial satisfaction as a particular domain of satisfaction with life as a whole. Based on the 2003 "Survey on Living Conditions and Poverty" for Andalucia (Spain) and using a self-reported measure of welfare, ordered probit models are used to analyze…
Ólafsson, Tjörvi; Pétursson, Thórarinn G.
The recent global financial tsunami has had economic consequences that have not been witnessed since the Great Depression. But while some countries suffered a particularly large contraction in economic activity on top of a system-wide banking collapse, others came off relatively lightly...
May 18, 1991 ... The financial position of 5th- and 6th-year medical students at the University of Cape Town was analysed. The median annual expenditure for a 6th-year student in private accom- modation is R13790. The trend in applicants to medical school has changed, with proportionally more now coming.
Pontoppidan, Caroline Aggestam
The advance of International Financial Reporting Standards (IFRS) across the globe has accelerated over the last few years. This is placing increasing demands on educators to respond to these changes by an increased focus on IFRS in the curricula of accounting students. This paper reviews a range...
Full Text Available A continuous flow of reliable, relevant and financially important information is necessary for making economically justified and strategic investment decisions. Economic globalization has contributed to the need of creating a unified language for communication, a single set of international financial reporting standards with the sole purpose of enhancing transparency for investors and reducing the cost of capital. Harmonization of financial reporting provides more efficient use of global resources, easier consolidation of multinational companies foreign subsidiaries, alleviation of accounting staff mobility and reducing of audit costs. The research is based on the benefits that the national economy can gain if the international financial reporting standards are successfully implemented. Special attention in the paper is devoted to the factors that determine the harmonization of financial reporting. The analysis of the results show the managers' perception of financial reporting, and emphasize the effects of the implementation of IFRS in Republic of Macedonia.
Testimony: Statement of Paul J. Granetto Director Defense Financial Auditing Service Office of the Inspector General Department of Defense to the Subcommittee on Government Efficiency and Financial Management House Government Reform Committee on Defense Financial Management
.... Decision-makers responsible for planning military actions need reliable financial information so that they can prudently manage available resources and allocate dollars to those processes that yield...
Full Text Available In January 2016, the International Accounting Standards Board (IASB issued IFRS 16 “Leases”, which will replace the current standard IAS 17 “Leases”. IFRS 16, whose application is mandatory for annual periods beginning on or after January 2019, sets out new rules for the recognition and measurement of leases, leading to a change of value for the elements recognized in the financial statements, as well as for the financial indicators calculated based on these. The purpose of this article is to present, based on a comparative analysis of IFRS 16 and IAS 17, the main consequences that the application of IFRS 16 will arise, in respect of the financial statements and the financial indicators determined based on the information provided by these.
Khalily, M.A. Baqui
Like in many other countries, inclusive finance for inclusive growth has become a policy issue in Bangladesh following the global financial crisis in 2008. Over the past 10 years, intensity of financial deepening and access to financial services has increased. Both banks and microfinance institutions have contributed to higher intensity. A recent study shows that around 40% of the adult population and 75% of households have access to financial services in Bangladesh. Several factors may have ...
The role of financial monitoring in Ukraine is defined in the article. It is suggested how to manage operation of the system of state financial monitoring as a component of Ukrainian financial security. The stages of financial monitoring development in Ukraine are systematized. The algorithm of main processes of interaction between banking institutions, state and judicial authorities regarding antimoney laundering, terrorist and spread of mass-destruction weapons financing.
Reimsbach, D.; Hahn, R.; Gürtürk, A.
Sustainability-related non-financial information is increasingly deemed value relevant. Against this background, two recent trends in non-financial reporting are frequently discussed: integrated reporting and assurance of sustainability information. Using an established framework of information
Britt, Sonya L.; Canale, Anthony; Fernatt, Fred; Stutz, Kristen; Tibbetts, Racquel
This study had two distinct purposes. First, to determine the predictors of financial stress among college students who sought free peer-based financial counseling from a large Midwestern university (N = 675). Secondly, to determine the effectiveness of the particular financial counseling center from a subsample of those who sought help (N = 97).…
Sayinzoga, Aussi; Bulte, E.H.|info:eu-repo/dai/nl/141315245; Lensink, Robert
We organise a field experiment with smallholder farmers in Rwanda to measure the impact of financial literacy training on financial knowledge and behaviour. The training increased financial literacy of participants, changed their savings and borrowing behaviour and had a positive effect on the new