scholarly journals Investigating Financial Management Practices Towards Sustainable Growth. A Case Study of Small and Medium Poultry Enterprises in Kafue District Zambia

2019 ◽  
pp. 58-66
Author(s):  
Namonze Chilala
Keyword(s):  
Financial Management ◽  
Management Practices ◽  
Sustainable Growth

Examining Financial Controls Practices Among Religious Non-Profit Organisations: A Case Study of Malaysia

2021 ◽  
Vol 8 (2) ◽  
Author(s):  
Rozaidy Mahadi ◽  
Noor Kaziemah Sariman ◽  
Andy Lee Chen Hiung
Keyword(s):  
Financial Management ◽  
Management Practices ◽  
Financial Control ◽  
Non Profit ◽  
Control Framework ◽  
Financial Governance ◽  
Financial Scandals ◽  
Government Organisation ◽  
Financial Misconduct

There have been many financial scandals associated with religious-based non-profit organisations (RNPOs), their involvement in unethical and wrongdoing has pressured non-profit organisations, especially religious-based NPOs (RNPOs) to start adopting highly transparent and accountable financial management practices. Despite many efforts to improve the RNPOs’ service quality, their integrity has been tinted with many scandalous incidents of funds embezzlement and corruption. Poor financial accountability and lack of legal requirements are argued to be the underpinning reasons for such financial atrocities occurring. With the absence of sound financial governance and comprehensive financial regulations, it has been impaired the government’s ability to detect, prevent and correct RNPOs’ financial misconduct. To prevent financial misconduct from repeatedly occurring, having cogent financial control practices will ensure the RNPOs upholding their accountability duties to the clients they have served. Therefore, the objective of this paper is to examine Malaysian RNPOs financial controls practices. In doing so, various religious-based NGOs’ (i.e. Islam, Buddha, and Christian) representatives were interviewed, analysed, and appraised with Simon’s (1994) control framework. The findings indicate that the RNPOs financial control practices are mediated by the virtue of the religions that they have adopted, the RNPOs’ affiliation (i.e. local-based, foreign-based, and/or semi-government organisation), and the level of sponsorships and grants they have received.

scholarly journals THE FINANCIAL MANAGEMENT PRACTICE OF MOSQUE: STUDY CASE IN MALAYSIA

2019 ◽  
Vol 16 (1) ◽  
pp. 108-121
Author(s):  
Nining Nining Islamiyah ◽  
Keyword(s):  
Data Collection ◽  
Performance Assessment ◽  
Financial Management ◽  
Management Practices ◽  
Management Practice ◽  
Assessment And Evaluation ◽  
Study Case

This study aims to explain the financial management practices of the mosque. Specifically, the focus of this study is to explore and investigate how financial management practices in the mosque. A case study of one Malaysian mosque is undertaken. To achieve the objective of this study, the researcher used vari­ous techniques of data collection, including interviews, observations, and reviews of the documents. The findings reveal that the SHAS mosque has four mechanisms to manage financial management practices. The tools are performance assessment and evaluation, participation, regulation, and social auditing. This study concludes that financial management practices are a necessary process to support the accounta­bility of the mosque. Especially, secondary accountability relates to the responsibility of mosque managers toward capital providers of the mosque. The results of this study give some implications for the improvement of financial management practices, particularly in the mosque.

Issue of Financial Management Practices among SMMEs: A Case Study of Former Transkei Homelands in Eastern Cape Province South Africa

10.31355/70 ◽  
2020 ◽  
Vol 4 ◽  
pp. 001-007
Keyword(s):  
South Africa ◽  
Financial Management ◽  
Financial Stability ◽  
Management Practices ◽  
Future Research ◽  
First Year ◽  
Eastern Cape Province ◽  
Eastern Cape ◽  
Management Skills

NOTE: THIS ARTICLE WAS PUBLISHED WITH THE INFORMING SCIENCE INSTITUTE. Aim/Purpose...................................................................................................................................................................................................... The goal of this study was to investigate the financial management practices of SMMEs operating in under developed regions as a challenge facing SMMEs operating in underdeveloped regions using former Transkei Homelands in Eastern Cape Province as a case study. Background......................................................................................................................................................................................................... In South Africa, the works of Cameron and Miller (2008) highlights that South Africa is ranked among top countries in the world with high failure rates of SMMEs during the first year of establishment. This calls for continues research works to identify factors that could be impeding the progress of SMMEs in South Africa. According to Jayansankaran, (1999) proper financial management practices are among the key deciding factors when it comes to the survival of SMMEs. Mostly SMMEs in underdeveloped regions are owned and managed by one person, the lack of financial management competence on the side of the SMMEs owners or managers in turn could bring serious consequences to the financial stability and grow of the SMMEs. It is against this background that this study focuses on financial management practices among SMMEs entrepreneurs operating their businesses in former Transkei Homelands where survival of SMMEs are critical for economic development of the region. Methodology....................................................................................................................................................................................................... The researcher in this study uses both quantitative and purposive sampling approaches to design an exploratory study to sample 68 SMMEs owners/managers based in the various towns of the selected region. Contribution........................................................................................................................................................................................................ This research will add to the growing knowledge about identifying factors that may be impeding survival of SMMEs. Findings .............................................................................................................................................................................................................. The major findings of the study revealed that 95.59% of the owners/managers have no financial management/accounting skills as well as 58.82% of the internal system of recording financial transactions are not audited. Recommendations for Practitioners................................................................................................................................................................. In view of the findings it is recommended that agencies charged with looking after SMMEs provide training in the area of financial management skills for the SMMEs owners/managers. Recommendation for Researchers.................................................................................................................................................................... Future studies can include the other four principles of financial management principles highlighted by Armstrong (2001). Impact on Society............................................................................................................................................................................................... The research will assist to highlight to funders of SMMEs, policy makers and business support agencies the need for educating SMMEs entrepreneurs especially those operating their businesses in underdeveloped regions in proper financial management practices in order to curve the problem of cash flow faced by SMMEs which leads to SMMEs failure. Future Research................................................................................................................................................................................................. Exploring the skills of the SMMEs entrepreneurs’ to prepare, understand and interpretation of financial statements are critical in this context.

Adding insult to injury: The fiscal impact of a failed FEMA disaster reimbursement system upon Florida municipalities

2021 ◽  
Vol 19 (2) ◽  
pp. 117-129
Author(s):  
David Mitchell, PhD ◽  
Claire Connolly Knox, PhD
Keyword(s):  
Natural Disasters ◽  
Financial Management ◽  
Management Practices ◽  
City Managers ◽  
Fiscal Impact ◽  
Central Florida ◽  
Disaster Policy ◽  
Emergency Managers ◽  
Local Government Level

The financial aspects of natural disasters test fiscal solvency by draining municipal reserves and diverting funds from vital operations until Federal Emergency Management Agency (FEMA) reimbursements arrive, if they arrive. With record-breaking natural disasters, the resulting fiscal strain is hampering nearly every community’s effort to increase resiliency. Without systemically assessing the financial responses to natural disasters at the local government level, we are perpetuating the paradox of government disaster policy making and decreasing our community’s resiliency. This study bridges the gap between the financial management and disaster recovery literatures by applying resource dependency theory to an exploratory case study of local emergency managers and city managers in Central Florida following hurricanes Matthew, Irma, and Michael. Collectively, the respondents describe the reactive and dependent nature of the current federalist approach to natural disaster financial management practices; which ultimately threatens fiscal viability for many American communities.

The growth-profitability nexus among Swedish SMEs

2015 ◽  
Vol 11 (4) ◽  
pp. 531-547 ◽  
Author(s):  
Darush Yazdanfar ◽  
Peter Öhman
Keyword(s):  
Financial Management ◽  
Fixed Effects ◽  
Firm Growth ◽  
Management Practices ◽  
Control Variable ◽  
Sustainable Growth ◽  
Least Squares Regression ◽  
Level Control ◽  
Firm Level ◽  
Content Type

Purpose – The purpose of this paper is to examine the growth-profitability nexus among small- and medium-sized enterprises (SMEs). Design/methodology/approach – The data comprise 106,884 observations covering 26,721 Swedish SMEs in six industry sectors over the 2008-2011 period. The data were analysed using several statistical techniques, including two-stage least squares regression, fixed-effects and random regressions, and bootstrapped quantile regression. Findings – Consistent with the hypotheses derived from the resource-based approach, the results indicate that current profitability significantly and positively affects firm growth. The firm-level control variable size significantly and positively affects firm growth, though firm age significantly and negatively affects growth. Firm industry affiliation also affects firm growth. Research limitations/implications – Since SME performance is commonly equated with access to knowledge, consultancy services or business training programmes sponsored by governmental organizations can help SMEs improve their management skills and thereby their performance. Moreover, adopting advanced financial management practices can improve the use of financial resources, leading to higher profitability and thereby sustainable growth. This implies that managers should change their strategy from “growth now, profitability later” to “profitable growth now”. Originality/value – Unlike most previous studies, this study employs several multivariate methods to analyse a comprehensive, cross-sectoral sample comprising non-financial, independent, and active SMEs in several industries. This study focuses explicitly on SMEs, which play a fundamental role in the Swedish economy.

scholarly journals Impact of Financial Management Practices on Sustainable Growth of SMEs: A Case of Catering Organizations in Bulawayo Metropolitan Province

2022 ◽  
Vol 4 (3) ◽  
pp. 48-53
Author(s):  
Thandiwe Chisiri ◽  
Sibongile Manzini
Keyword(s):  
Financial Reporting ◽  
Financial Literacy ◽  
Financial Management ◽  
Management Practices ◽  
Capital Budgeting ◽  
Literacy Skills ◽  
Sustainable Growth ◽  
Catering Industry ◽  
The Government ◽  
The Impact

The study was conducted to establish the impact of financial management practices on the perdomance of SMEs in Zimbabwe. The problem statement identified lack of business growth of SMEs. The objectives of the study were to establish the impact of financial management  practices on the sustainable growth of SMEs. The study was based on a sample of 101 SMEs from the Catering Industry that were selected through random sampling. Data analysis was done through SPSS version 2.2. The findings revealed that SMEs used mostly four financial management practices: capital budgeting, working capital management, Capital structure, and financial reporting analysis. The challenges faced by SMEs in implementing prudent financial management practices were mainly poor management skills, lack of business registration and lack of financial literacy skills. The results of the study implied that most challenges faced by SMEs were internally localised. The study recommended a model for growth of SMEs in which the government was the major supporter of SMES through financial literacy training and provision of financial support. SMEs were recommended to use equitable financial management practices.

Financial Management of Tires Retail and Restaurant Business in Greater Jakarta

2019 ◽  
Vol 2 (4) ◽  
pp. 267-275
Author(s):  
Sung Suk Kim ◽  
Jacob Donald Tan ◽  
Rita Juliana ◽  
John Tampil Purba
Keyword(s):  
Financial Management ◽  
Management Practices ◽  
Working Capital ◽  
Structured Interviews ◽  
Short Term ◽  
Direct Observations ◽  
Medium Enterprises ◽  
Cash Reserves ◽  
Retained Earnings ◽  
Computerized System

This study aims to explore the financial management practices ofsmall-and-medium-enterprises (SMEs) in the Greater Jakarta (Jabodetabek). We investigate into 3 SME cases by conducting the semi-structured interviews with the owner-managers and using direct observations to know the practices of financial management of SMEs. Through the research, we have found six propositions related to the practice of short-term financial management. They apply bootstraps to ensure availability of working capital. They set aside cash reserves from retained earnings and minimize loans from financial institutions. They have the computerized system to track receivables facilitating working capital needs. They keep theirinventory control efficient to manage working capital. They screen customers using transactional records and reputations to minimize the risk of bad debts.

Modernisation of Higher Education – Willful Action or Wishful Thinking? The Case of Bulgaria

2020 ◽  
Vol 8 (3) ◽  
pp. 3-17
Author(s):  
Elena Blagoeva
Keyword(s):  
Higher Education ◽  
Economic Crisis ◽  
Negative Impact ◽  
National Level ◽  
Sustainable Growth ◽  
Research Approach ◽  
Case Study Methodology ◽  
The Impact ◽  
The Eu

The impact of the last global economic crisis (2008) on the European economy put a strain on higher education (HE), yet it also pushed the sector towards intensive reforms and improvements. This paper focuses on the “Strategy for the Development of Higher Education in the Republic of Bulgaria 2014-2020”. With a case study methodology, we explore the strategic endeavours of the Bulgarian government to comply with the European directions and to secure sustainable growth for the HE sector. Our research question is ‘How capable is the Bulgarian HE Strategy to overcome the economic and systemic restraints of Bulgarian higher education?’. Because the development of strategies for HE within the EU is highly contextual, a single qualitative case study was chosen as the research approach. HE institutions are not ivory towers, but subjects to a variety of external and internal forces. Within the EU, this is obviated by the fact that Universities obtain their funds from institutions such as governments, students and their families, donors, as well as EU-level programmes. Therefore, to explore how these pressures interact to affect strategic action on national level, the case method is well suited as it enabled us to study the phenomena thoroughly and deeply. The paper suggests the actions proposed within the Strategy have the potential to overcome the delay, the regional isolation and the negative impact of the economic crisis on the country. Nevertheless, the key elements on which the success or failure of this Strategy hinges are the control mechanisms and the approach to implementation. Shortcomings in these two aspects of strategic actions in HE seem to mark the difference between gaining long-term benefits and merely saving face in front of international institutions.

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