Strategy for the Implementation of the Village Financial System Application Effectively and Efficiently

This study aims to assess the performance of the village government from the use of the SISKEUDES (Village Financial System) application in improving the quality of financial accountability in the village of Tanjungsari, Umbulsari District, Jember Regency. This research uses qualitative methods using a descriptive approach. Data obtained from observations and interviews with informants, in this case the village government, from the village head, village secretary, finance officer, financial staff, and planning staff, directly from the results of the interview data reduction, data presentation and withdrawal were carried out. Conclusion.

Structure and Composition of Board’s Committees: Analysis of Pakistan International Airlines Corporation Limited

This study aimed to explore the composition of BODs committees in PIACL. Secondary data from Annual Reports, Act, Rules and Regulations of the corporation in general and SECP recommendations i.e., the codes of CG in particular were collected. Data were analyzed in MS-Office 2016 version using MS-Excel and MS-Word. Obtained results are, the BODs can exercise their powers to form the board’s various committees, but at the same time BODs must execute their responsibilities focusing on objectives of the corporation and larger interest of stockholders in good faith and judgment, especially executing authority for the establishment of AC. BODs must confirm that none of the member's interests conflicts with the objectives of the committee. The Principal Finance Officer (CFO), inside audit officials, and officers like the chief cooperating officer (CEO) do not represent AC. However, one member of the committee must hold ample knowledge related to finance, but this does not mean that a member of the board who is linked either with financial matters or audit operations is appointed on the committee. Results further indicated that in PIACL different committees of BODs have been formed where a director in the finance committee is also appointed as member or chairman in AC in contrast to SECP codes. Similarly, various BODs have been made part of the AC, HR, IT, Procurement, Marketing (Brand and advertisement) committee. Whereas, practically it is very uncommon that an individual possesses expertise in IT, HR, Marketing, and Finance fields simultaneously as these are diverse fields, how come a person can be an expert of all disciplines at the same time? Hence, the appointment of directors in multiple committees at the same time raises a lot of questions about the independent working or decision-making of such committees.

The Value Added by Professional Certification of Municipal Finance Officers

Many academics and practitioners value professional training and certification programs as important ways to improve management practice and organizational performance. However, these programs often are among the first cutback targets in times of fiscal stress. Evidence that documents the actual impacts of specialized training and certification on public organizational performance is sparse. This longitudinal panel study examines the effects of a state-mandated Certified Municipal Finance Officer program on cities’ financial management performance and finds that the program had a statistically significant independent impact on the observed reduction in the number of annual outside audit findings. The program’s impact on improved financial management performance underscores the need for scholars to evaluate similar programs, the results from which may help to alter public officials’ cutback calculus and restore public confidence in the public service.

County Government Fleet Acquisition Practices: Service Demand or Budget Limitations

Service provision through automobile use prompts the need for periodic replacement. Questions arise concerning service need versus popular trends. Any change has some type of cost impact and budget implications. The finance officer is charged with finding the balance between need and affordability. Very limited information exists concerning budget actor influence on fleet acquisition. This study examines fleet acquisition practices of professionally administered county governments. Findings indicate that the sheriff and departments can acquire specific makes and models, but only in conjunction with finance officer need assessment and the presence of appropriate facilities and financing mechanisms.

Islamic Cross Currency Swap (ICCS): hedging against currency fluctuations

Subject areaThe case is suitable for use in the topics related to the functions and roles of hedging and the Islamic derivatives/hedging instruments.Study level/applicabilityThe case is designed for undergraduate students, taking courses in Islamic Banking, Islamic Finance and Risk Management for Islamic Banking Institutions.Case overviewThis case describes the theory and application of Islamic Cross Currency Swap (ICCS) in the market. Having this understanding enables case analysts to understand the functions and roles of hedging and the Islamic derivatives or hedging instruments of ICCS comprehensively. The case begins with Yusof, the new finance officer of Al-Yemeni Sdn. Bhd to analyse the permissibility of hedging and derivatives to hedge against currency fluctuations from Islamic perspective. Yusof had to complete the report before the Board of Director's quarterly meeting, which was within a week. Having in mind that the company's mission was to be a Shariah-compliant stock by 2012, Yusof was responsible for ensuring that the company was administrated in an Islamic way. Besides, he also had to ensure that the company generated income and profit as planned. In doing so, he had to strategise all possible risk exposures that could be mitigated or hedged. This case ends by giving the case analyst information on ICCS offered by Al-Rizky Bank Berhad (ARBB). In this case, Yusof had to find out whether hedging is allowed in Islam. What are the Islamic derivatives? What are the different views of Shariah scholars on various types of derivatives? What is themodus operandiof ICCS? Is the ICCS offered by ARBB Shariah compliant? What are the possible risk exposures being hedged in ICCS?Expected learning outcomesTo provide exposure on the concepts of hedging from Islamic perspectives; to provide exposure on the concepts of Islamic derivatives/Islamic hedging instruments; to stimulate understanding on themodus operandiof ICCS in ARBB; and to help case analysts understand what makes the Islamic hedging instruments become Shariah compliant.Supplementary materialsTeaching notes are available for educators only. Please contact your library to gain login details or [email protected] request teaching notes.

Analysis of Cost Reduction Techniques Adopted in Hospitals in and Around Pune

Purpose: The purpose of this study is to analyze the various techniques implemented with respect to cost reduction in privately owned hospitals in and around Pune. Design/Methodology/Approach: A total of 30 privately owned hospitals were randomly selected for the purpose of the study. The methodology comprised administering the questionnaire along with a personal interview with the administrative/finance officer. The hospitals included for the study were selected based on the following characteristics: Hospitals with capacity of 50–100 beds were termed as small hospitals and hospitals with more than 100 beds were termed as large hospitals. Further they were segregated as general hospitals (<100 beds) and speciality and super speciality hospital in multiple urban locations. These organizations were for-profit hospitals. Findings: The results predominantly highlight the key techniques required to be used by most of the hospitals as the cost reduction method, and also the various aspects on which improvement and further development is required to keep on providing better health care service delivery with effective cost containment in the city of Pune.