Exploration on Financial Strategy Management of Enterprise Financial Management Environment

2021 ◽  
Keyword(s):  
Financial Management ◽  
Strategy Management ◽  
Financial Strategy

Assessing the financial potential of organizations in the context of professional standard ‘Accountant’

2021 ◽  
Vol 14 (4) ◽  
pp. 407-432
Author(s):  
Irina A. ASTRAKHANTSEVA ◽  
Irina N. KOYUPCHENKO ◽  
Aleksandra A. TERSKIKH
Keyword(s):  
Financial Management ◽  
Systems Approach ◽  
Analytical Models ◽  
Rational Approach ◽  
Financial Strategy ◽  
Economic Relations ◽  
Business Plans ◽  
Finance Management ◽  
Economic Entity ◽  
Potential Formation

Subject. The article addresses the financial potential of the organization, investigates economic relations stemming from financial potential formation and prospects for its growth as a result of actions and initiatives of managerial staff. Objectives. The aim is to disclose the content of the rational approach in financial and analytical studies focused on expressing the analytical value of qualitative and quantitative determination of financial potential in the process of substantiating management decisions on achieving competitiveness and long-term efficiency of economic entity. Methods. The study rests on modern theories of capital structure, methods for developing financial strategy, solving multi-criteria economic problems, including ranking techniques, the graphical and analytical models. Results. We developed methodological recommendations for financial potential assessment, which include the indicators of strategic level of investment capital management based on the systems approach to the use of financial, strategic and investment analysis tools. Their application in practice will increase the informativeness of potential assessment. The findings have an applied focus aimed at professional competencies in the development of organizational and administrative documents that regulate the analysis and assessment of financial potential based on strategic goals. Conclusions. Along with the existing methods, the methodological recommendations form a subsystem of analytical support focused on the organization’s value and finance management. Their use in financial strategy formation enables to identify and study strategic alternatives of development, create financial sections of business plans, justify adjustments to the strategy and tactics of financial management.

scholarly journals THE DETERMINANTS INFLUENCING PERSONAL FINANCIAL BEHAVIOR THROUGH PERSONAL FINANCIAL STRATEGY

2019 ◽  
Vol 4 (2) ◽  
pp. 128-131
Author(s):  
NOOR Hannah Samsu Anuar
Keyword(s):  
Financial Management ◽  
Financial Institution ◽  
Early Adulthood ◽  
Financial Behavior ◽  
Future Research ◽  
Time Data ◽  
Financial Strategy ◽  
Financial Decisions ◽  
The Relationship ◽  
Personal Financial Behavior

Bankruptcy problems among the individuals in Malaysia is still a continuous concern regardless of its decreasing trend. Malaysian Department of Insolvency (MdI) reveals that most of the loan defaulters were consist of the early adulthood group. These individuals portray how do they make financial decisions in terms of budgeting, savings and expenditure. This study aims to understand the patterns of the savings and expenditure habit of the early adulthood in financial institutions. It is found that the early adulthood shows a good conduct of financial behavior, however there are not properly planned and organized in terms of savings. Apart from that, the objective of this study also is to investigate the significant determinants of financial management, financial attitude and normative influencer towards personal financial behavior by exploring the relationship exist between variables through multiple regression analysis. A survey approach using convenient sampling has been adopted to conduct the study and it was distributed among the employees of financial institution in selected branch of Employees Provident Fund (EPF), Inland Revenue Board of Malaysia (IRBM), CIMB Bank and Hong Leong Bank. Imperatively, Cronbach’s alpha and Exploratory Factor Analysis were tested to improve the reliability of the survey. This study is differed from the previous studies as it adopts Statistical Analysis Software (SAS) for each analysis to gain a meaningful result. To further improve on the previous literatures, this study intends to propose a personal financial strategy which is the Balanced Money Formula on managing personal finance concerning to the allocation of monthly income towards budgeting, savings and expenditure in an optimal manner among early adulthoods. Thus, this particular study uses a real-time data that can be used as references for future research and a new theory on exploring and understanding new financial management methods may be achieved.  

scholarly journals Examining Auditing as an Essential Element of Financial Management and Good Governance in Local Government

2014 ◽  
Vol 2 (2) ◽  
pp. 82
Author(s):  
Sindisile Maclean
Keyword(s):  
Local Government ◽  
Financial Management ◽  
Local Governments ◽  
Good Governance ◽  
Essential Element ◽  
External Factors ◽  
Financial Strategy ◽  
Internal Factors ◽  
Accounting Systems ◽  
Key Issues

The purpose of the article is to address issues of auditing in the context of financial management as a contribution to good governance. Generally, not all local governments have effective and operational audit units and committees. As a result, auditing is not used as an essential element of good governance and this leads to bad audit outcomes like disclaimers and adverse opinions. The bad audit outcomes in local government have motivated the researcher to conduct the study on auditing. There are internal factors within the municipalities as well as external factors that are of interest and directed the researcher to have desire and commitment to make a contribution in this particular field of research. The key issues, amongst others, are principles of financial management, financial strategy, auditing functions such as forensic auditing, fraud auditing, forensic accounting and detection of fraud, including accounting systems and auditor’s role. This article will also attempt to reinforce existing theories and add value to local government financial discourse and good governance.

scholarly journals Mengatasi Dampak Negatif Voluntourism Dalam Komunitas Lokal (Studi Kasus Lembaga Kursus Bahasa Jepang Bunka Kenkyuukai Yogyakarta, Indonesia)

2021 ◽  
Vol 12 (1) ◽  
pp. 72-80
Author(s):  
Devita Widyaningtyas Yogyanti ◽  
Emmita Devi Hari Putri ◽  
Citra Unik Mayasari ◽  
Atun Yulianto ◽  
M. Fathurrahman Nurul Hakim
Keyword(s):  
Qualitative Research ◽  
Financial Management ◽  
Strategy Management ◽  
Host Community ◽  
Japanese Language ◽  
Teachers And Students ◽  
Local Host ◽  
Negative Impacts ◽  
Marketing Material

Abstrak Penelitian ini merupakan penelitian kualitatif mengenai dampak negatif yang ditimbulkan program voluntourism dalam bidang pendidikan di Bunka Kenkyuukai, sebuah lembaga kursus Bahasa Jepang dan Indonesia di Yogyakarta, yang merupakan destinasi program voluntourism dari agen wisata Jepang. Beberapa efek negatif yang ditimbulkan seperti tidak terpenuhinya kebutuhan Bunka Kenkyuukai, terhambatnya proses belajar mengajar dan gagalnya proses pertukaran lintas budaya yang berguna bagi pendidikan siswa disebabkan karena Bunka Kenkyuukai sebagai local host community tidak memiliki control terhadap jalannya program. Penelitian ini dilakukan dengan melakukan sejumlah observasi dan wawancara kepada direktur, staff, guru dan siswa di Bunka Kenkyuukai mengenai jalannya program voluntourism. Hasil dari penelitian ini berupa saran yang dapat dilakukan oleh Bunka Kenkyuukai untuk mengambil control terhadap jalannya program, agar program tersebut dapat memberikan manfaat sebagaimana mestinya. Saran yang diusulkan dalam penelitian ini adalah dengan melakukan serangkaian manajemen internal mulai dari manajemen strategi, manajemen marketing, manajemen operational hingga manajemen finansial. Dengan melakukan perubahan dalam hal manajemen diharapkan program voluntourism di Bunka Kenkyuukai dapat memberikan manfaaat tidak hanya bagi perkembangan pendidikan siswa tetapi juga bagi kelangsungan bisnis Bunka Kenkyuukai. Kata Kunci : Budaya, Program, Voluntourism Taking the Host Community’s Control Back Towards Negatif Impact of Voluntourism. Case Study in Japanese Language Course Bunka Kenkyuukai, Yogyakarta Indonesia. Abstract This research is qualitative research about how to maximize benefit and reduce the negative impacts of voluntourism in Japanese Language Course Bunka Kenkyuukai in Yogyakarta. Some negative impacts that obstructed Bunka Kenkyuukai’s course activities happened because Bunka Kenkyuukai as a localhost community did not have any control in running of voluntourism program. This research was done by doing some observations and interviews with the director, staff, teachers, and students in Bunka Kenkyuukai. The result of this research is a piece of advice that can be done to take control of running the program, so the program can provide more benefits. The proposed suggestion in this research by doing some internal management start from strategy management with adjusting the voluntourism program to the Bunka Kenkyuukai’s purpose, marketing management by making the program as marketing material, operational marketing by redesign the running of voluntourism program, up to financial management by making projections of income and expenditure items related to the voluntourism program. By doing so, the voluntourism program is expected to provide more benefits to Bunka Kyenkyuukai not only in student’s progress but also business continuity of Bunka Kenkyuukai. Keywords : Culture. Programme, Voluntourism

scholarly journals FEATURES OF THE APPLICATION OF FINANCIAL STRATEGY AT THE ENTERPRISE

2021 ◽  
Vol 26 (3(88)) ◽  
Author(s):  
Sadigov Rahim Farahim
Keyword(s):  
Financial Management ◽  
Good Governance ◽  
Financial Control ◽  
Financial Strategy ◽  
Macroeconomic Factors ◽  
Financial Activity ◽  
Industrial Enterprises ◽  
Governance Strategies ◽  
The Right ◽  
And Control

At present, the world economy is competitive. One of the main issues of increasing the competitiveness of industrial enterprises and sustainable development is the implementation of good governance strategies in the enterprise. One of the sub-issues of the management strategy is the financial strategy. To this end, we have chosen to conduct research to improve the company’s financial strategy. The purpose of the research is to conduct research in the field of improving the financial strategy, to provide scientific suggestions and recommendations in the field of improving the financial security of the enterprise. The methodology of the research is to conduct research in the field of formation of the right financial strategy to increase the competitiveness of the enterprise, the development of its economic and financial potential. Financial management is not just about shaping financial strategies. It is also a set of activities related to the planning, execution, financial control, accounting and reporting of the enterprise’s budget. Increasing the competitiveness of the enterprise leads to the strengthening of its market position, increasing its profitability and economic efficiency. The research was carried out in “EL Plastic” LLC. The research results can be used in the management of industrial enterprises. We have come to the conclusion from the research that these results reflect the main details of the formation and implementation of the financial strategy. The financial strategy applied in the enterprise is directly and indirectly exposed to the macroeconomic effects of the country. For this purpose, macroeconomic factors must be taken into account when determining the financial strategy of the enterprise. Having resources for the development of the enterprise, improving their use and expanding financial opportunities are the basis of the organization’s strategic activities. The financial strategy regulates the organization and implementation of this work, ensures the efficiency of management activities. Financial strategy requires planning of financial activity of the industrial enterprise, formation and implementation of mechanisms for attraction, use and control of financial resources. The financial strategy opens wide opportunities in the field of markets, sales and price management, expansion of the organization’s financial opportunities, achievement of high profitability.

scholarly journals Identifying the key factors of subsidiary supervision and management using an innovative hybrid architecture in a big data environment

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Kuang-Hua Hu ◽  
Ming-Fu Hsu ◽  
Fu-Hsiang Chen ◽  
Mu-Ziyun Liu
Keyword(s):  
Internal Control ◽  
Financial Management ◽  
Business Strategy ◽  
Rough Set Theory ◽  
Business Environment ◽  
Strategy Management ◽  
Hybrid Architecture ◽  
Key Factors ◽  
Supervision And Management ◽  
Audit Management

AbstractIn a highly intertwined and connected business environment, globalized layout planning can be an effective way for enterprises to expand their market. Nevertheless, conflicts and contradictions always exist between parent and subsidiary enterprises; if they are in different countries, these conflicts can become especially problematic. Internal control systems for subsidiary supervision and management seem to be particularly important when aiming to align subsidiaries’ decisions with parent enterprises’ strategic intentions, and such systems undoubtedly involve numerous criteria/dimensions. An effective tool is urgently needed to clarify the relevant issues and discern the cause-and-effect relationships among them in these conflicts. Traditional statistical approaches cannot fully explain these situations due to the complexity and invisibility of the criteria/dimensions; thus, the fuzzy rough set theory (FRST), with its superior data exploration ability and impreciseness tolerance, can be considered to adequately address the complexities. Motivated by efficient integrated systems, aggregating multiple dissimilar systems’ outputs and converting them into a consensus result can be useful for realizing outstanding performances. Based on this concept, we insert selected criteria/dimensions via FRST into DEMATEL to identify and analyze the dependency and feedback relations among variables of parent/subsidiary gaps and conflicts. The results present the improvement priorities based on their magnitude of impact, in the following order: organizational control structure, business and financial information system management, major financial management, business strategy management, construction of a management system, and integrated audit management. Managers can consider the potential implications herein when formulating future targeted policies to improve subsidiary supervision and strengthen overall corporate governance.

scholarly journals UPAYA PANTI ASUHAN PUTRI AISYIYAH BABAT LAMONGAN SEBAGAI STRATEGI MENCAPAI KEMANDIRIAN FINANSIAL

2020 ◽  
Vol 6 (7) ◽  
pp. 1509
Author(s):  
Rembrant Shella Gustami ◽  
Muhammad Nafik Hadi Ryandono
Keyword(s):  
Data Analysis ◽  
Financial Management ◽  
Foster Children ◽  
Qualitative Approach ◽  
Financial Strategy ◽  
Financial Independence ◽  
Entrepreneurial Spirit ◽  
Analysis Technique ◽  
Financial Management System

The background of this study is a financial surplus situation at the Aisyiyah Female Orphanage Babat in the last 4 years. This phenomenon encourages researchers to raise research that discusses the financial independence strategy that is implemented until the manager can fund the needs of the orphanage without prioritizing donation funds. This study uses a qualitative approach with a case study strategy. Data collection is done through interview techniques with relevant parties and related documents. The data analysis technique used is making explanations. The results of this study indicate that Aisyiyah Female Orphanage can be said to be financially independent. Independence is achieved by implementing a number of strategies including conducting several business ventures, implementing an independent financial management system, fostering entrepreneurial spirit of foster children, determining the priority of sources of income and fostering a spirit of sharing with others in foster children.Keywords: financial, strategy, financial independence, Aisyiyah Female Orphanage, Babat

scholarly journals The Financial Strategy Instrument in the Context of Enterprise Modernization

2019 ◽  
pp. 20-29
Author(s):  
G. ALEKSIN
Keyword(s):  
Program Implementation ◽  
Financial Management ◽  
Capital Investment ◽  
Institutional Environment ◽  
Strategy Development ◽  
Real Sector ◽  
Financial Strategy ◽  
Strategy Formation ◽  
Financing Policy ◽  
Enterprise Modernization

Problem of improving the strategic management quality at enterprise level (in particular its financial strategy formation and implementation) drastically increases under the recession conditions. It is highly important to take into account endogenous and exogenous factors influencing financial strategy formation, namely the issues raised due to need for modernization endemic to Ukraine’s real sector enterprises. The aim of the study is to determine financial strategy’s role in the context of the real sector’s modernization. The paper considers the problem of financial strategy development and implementation in the context of enterprise modernization in Ukraine. The author analyzes the problem of maintaining an enterprise’s strategic direction towards modernization though effective use of the financial strategy. The author studies the problem of financial management decisions’ nature in the context of enterprises’ innovative renewal. Based on the analysis of Ukrainian brewing industry enterprises, the paper provides practical recommendations considering financial strategy formation in the context of capital investment program implementation. Based on the evidence collected, the author arrived at a conclusion that different enterprises take different financial strategic decisions based on peculiarities of their external and internal environment. The author argued for the existence of a pattern concerning Ukraine’s real sector modernization issues, i. e. lack of a long-term focus, acute agency costs, weak interconnectedness of financing and operational policy. The author arrived at a conclusion that solutions to those issues are on both macro- and micro-level: firstly, state’s efforts to improve institutional environment, secondly, enterprises’ steps towards improving financing policy’s efficiency, thirdly, alignment of an enterprise’s financing policy and peculiarities of its exogenous and endogenous environment, which is highly important in the context of limited resources and uncertainty.   

Fundamentals of financial management

2019 ◽  
Author(s):  
Людмила Коршунова ◽  
Lyudmila Korshunova ◽  
Наталья Проданова ◽  
Natal'ya Prodanova ◽  
Елена Зацаринная ◽  
...  
Keyword(s):  
Financial Management ◽  
Financial Analysis ◽  
Economic Security ◽  
Federal State ◽  
Security Level ◽  
Financial Mathematics ◽  
Mathematics Methods ◽  
Financial Strategy ◽  
Educational Standard ◽  
State Educational

The tutorial describes the basic concepts and concepts of financial management. The fundamentals of financial mathematics, methods of accounting for risk factors in financial calculations. The methods of financial analysis in the financial management of the enterprise, as well as the use of methods of financial planning, forecasting and formation of the financial strategy of the enterprise. The manual contains two sections. For each topic are control questions and tasks for self-test. Prepared on the basis of the Federal state educational standard of higher education in the specialty 38.05.01 "Economic security (level of specialization)".

Analyzing the factors of financial strategy of recreational sphere enterprises

2021 ◽  
Vol 14 (4) ◽  
pp. 393-406
Author(s):  
Igor' A. BUKREEV
Keyword(s):  
Research Methods ◽  
Performance Indicators ◽  
Financial Management ◽  
Management Strategy ◽  
Financial Strategy ◽  
Modified Model ◽  
Mixed Form ◽  
General Scientific ◽  
Financial Result

Subject. This article analyzes the role of the factors of the modified model, taking into account the specifics of the recreational sphere. Objectives. The article aims to assess the role of the factors of the modified model for recreational enterprises. Methods. For the study, I used general scientific research methods. Results. Peculiarities of the recreational sphere cause the need to modify the DuPont model. The model is obtained in a mixed form. The model is obtained in a mixed form. This helps take into account the factors of operating and other activities in the financial result and profitability separately. The obtained results help assess the role and importance of factors in the financial management strategy, as well as the reasons for their impact on the efficiency of recreational enterprises. Conclusions. The importance of resource productivity and the increase in the share of operating activities remain underestimated in the model if considering a single enterprise case. For enterprises of the recreational sphere as a whole, there is a need to further study the model by establishing correlations of factors with the performance indicators.

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