scholarly journals Conceptual provisions of information systematization to analyze the financial sustainability of the university

2021 ◽  
Vol 22 (6) ◽  
pp. 711-724
Author(s):  
Artem V. KRIVOSHEEV
Keyword(s):  
Public Sector ◽  
Economic Analysis ◽  
Financial Reporting ◽  
Financial Stability ◽  
Objective Assessment ◽  
Information Support ◽  
Financial Sustainability ◽  
Comparison Results ◽  
The University ◽  
High Degree

Subject. This article explores the need of public sector organizations, and universities in particular, to classify the source data to conduct a reliable and trustworthy analysis of their financial stability. Objectives. The article aims to develop information support for a comprehensive economic analysis of the financial stability of the university by determining the sources of data used to analyze its financial stability. Methods. For the study, I used the methods of analysis, synthesis, and comparison. Results. Based on the study of accounting (financial) reporting indicators, the article proposes to determine three levels of data systematization, i.e. managerial, departmental, and public ones. The article substantiates proposals to clarify the provisions of the Instructions on the preparation, presentation of the annual, quarterly accounting of State (municipal) budgetary and autonomous institutions for economic analysis of the financial stability of public sector institutions. Conclusions. The current state of the methods used to assess financial stability makes it difficult to widely disseminate and implement them in the analytical activities of public sector institutions, including universities. Practical application of the original developments by grouping data sources to analyze the financial stability of the university, as well as the division of these groups into levels will help provide the most objective assessment, which will have a high degree of confidence in the assessment of the financial sustainability of budgetary and autonomous institutions of higher education.

scholarly journals Changing the Accounting System to Foster Universities’ Financial Sustainability: First Evidence from Italy

2019 ◽  
Vol 11 (21) ◽  
pp. 6151 ◽  
Author(s):  
Ferdinando Di Carlo ◽  
Guido Modugno ◽  
Tommaso Agasisti ◽  
Giuseppe Catalano
Keyword(s):  
Financial Reporting ◽  
Financial Stability ◽  
Public Funding ◽  
Stability Control ◽  
Financial Sustainability ◽  
Accounting System ◽  
Recent Reform ◽  
Financial Strategies ◽  
European University

According to the European University Association, nowadays financial sustainability is one of the key challenges for Higher Education Institutions. The financial sustainability of public universities is threatened by cutbacks in public funding and by society’s growing demand for improvements to the volume and quality of services provided. A recent reform in Italy has determined that universities are required to move to accrual accounting, starting from the assumption that this system responds more effectively to issues relating to financial stability control. This paper evaluates whether the new financial reporting system is better placed to represent the universities’ conditions of financial sustainability. Moreover, specific measures have been developed to investigate which financial strategies, if any, have been adopted in Italian universities to react to the new competitive context. Working in collaboration with practitioners from the HE sector, the research team developed a framework based on specific financial ratios to assess the financial sustainability of these institutions and to analyse their financial strategies. The findings reveal that, notwithstanding some common features, there are significant variations between Italian universities and they are addressing the new challenges with a range of different approaches.

scholarly journals Accounting in the budgetary sector: problems of today

2019 ◽  
pp. 6-8
Author(s):  
Liudmyla HORDIEIEVA-HERASYMOVA
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
International Standards ◽  
Information Support ◽  
Accounting System ◽  
Educational Support ◽  
Normative Documents ◽  
The Public ◽  
Public Sector Accounting ◽  
Budget Policy

Introduction. Currently, integration processes in the European and world community are underway in Ukraine. In this regard, the alignment of national accounting and financial reporting methodology in the public sector to international standards is a prerequisite for the implementation of Euro-integration processes. It is promotes effective analytical activities, enhances transparency of budgetary use, targeted use of borrowed funds. The purpose of paper is a study of theoretical and practical provisions of the organization of accounting in the budgetary sector, implementation of its reform and reflection of modern problems of its improvement. Results. Budgetary institutions are one of the relevant links in the budgetary sector. Accounting and financial reporting in them is determined by the legislation on the budget, the budget system, the basis of budget policy; appropriate public sector accounting guidance; other normative documents of the Ministry of Finance of Ukraine and the State Treasury Service of Ukraine. In the process of reform accounting in the budgetary sector, national public sector accounting standards have been developed that are consistent with international ones. A new, unified, public sector accounting plan has been built, and the level of transparency and openness of accounting has been improved. However, problems in the accounting and reporting system of public sector institutions remain. There is a need for final adaptation of the Ukrainian legislation on accounting and financial reporting to international requirements and compliance with changes in regulatory regulations; creation and implementation of an effective information and analytical accounting system and preparation of financial statements by public sector entities.. Conclusion. It is necessary to: improve the system of training and retraining of personnel of accounting and financial profile in the public sector, informational and educational support on measures of reforming the accounting of the budgetary sector, as well as introduction of an effective information system of accounting. Further adaptation of accounting in the budgetary sector to international standards promotes transparency in the management of public finances and allows to create a unified organizational and information support of accounting in the budgetary sector.

scholarly journals КОНЦЕПТУАЛЬНІ ЗАСАДИ ФІНАНСОВОЇ ДІАГНОСТИКИ В СИСТЕМІ ВАРТІСНО-ОРІЄНТОВАНОГО УПРАВЛІННЯ КОРПОРАЦІЯМИ

2020 ◽  
pp. 42-49
Author(s):  
Лідія Андріївна Костирко ◽  
Марина Вікторівна Євтушенко
Keyword(s):  
Corporate Governance ◽  
Financial Reporting ◽  
Financial Stability ◽  
Information Needs ◽  
Practical Importance ◽  
Information Support ◽  
Practical Significance ◽  
Economic Science ◽  
The Sustainable Development ◽  
Business Entities

Formulation of the problem. globalization processes taking place in the world economy, uncertainty of the market environment, changing business conditions and the paradigm of corporate governance – all this sets before the economic science and practice the task of finding new approaches to financial diagnostics as a tool for information support of value-oriented management. Object of the research: financial diagnostics in the system of cost-oriented management of corporations. Methods used of the research: logical content, scientific knowledge, induction and deduction, analysis and synthesis, economic and mathematical modeling. Hypothesis of the research: the existence of a relationship between the value of the corporation, its financial stability, financial performance and net cash flow. Summary of the material: the results of the study substantiate the conceptual foundations of the development of financial diagnostics in the system of value-oriented management of corporate enterprises, the purpose of which is to ensure the sustainable development of business entities on the basis of increasing value and achieving high quality corporate governance. Originality and practical importance: are determined by the generalization of the practice of value-oriented management of corporate enterprises in the part: financial diagnostics of the external environment, value indicators based on financial reporting indicators, stock indicators of corporate enterprise value and the state of corporate governance. The practical significance of the results is to formalize the value drivers of individual confectionery corporations based on correlation-regression models that can be used for forecasting. Conclusions: methodological approaches to: providing information needs of stakeholders on the basis of mechanisms of financial control of corporate enterprises are substantiated; improving the quality of corporate governance models and rating the internal financial and value potential of enterprises; financial diagnostics of the investment attractiveness of corporate securities in the stock market based on expectations-based management.

scholarly journals PREDICTING BANKRUPTCY OF THE ENTERPRISE AND FINSIM-PRO2018 SIMULATION MODEL IN THE STUDY PROCESS

2018 ◽  
pp. 199-205
Author(s):  
TEA MUNJISHVILI
Keyword(s):  
Simulation Model ◽  
Financial Reporting ◽  
Financial Stability ◽  
Financial Analysis ◽  
Financial Statements ◽  
Financial Statement ◽  
Financial Sustainability ◽  
Economic Process ◽  
Study Process

Financial Statement of the Organization for Financial Reporting Analysis The main objective of any economic process, including financial analysis, is the first: to identify the reasons for the financial stability of the organization and to set the measurements to eliminate them; Second, in case of maintaining existing tendencies of the enterprise, the prediction about the expected results; On the basis of modeling, find ways and means of ensuring financial sustainability. The article describes the FINSIM_PRO2018 simulator created by our financial statements.

scholarly journals Metodologia SOAP na Formação da Medicina Geral e Familiar em Contexto Prático

2016 ◽  
Vol 29 (12) ◽  
pp. 854 ◽  
Author(s):  
Luiz Miguel Santiago ◽  
Isabel Neto
Keyword(s):  
General Practice ◽  
Family Medicine ◽  
Health Professionals ◽  
Medical Records ◽  
Objective Assessment ◽  
Information Support ◽  
Essential Information ◽  
School Year ◽  
Development Of Competencies ◽  
The University

Introduction: Medical records in General Practice/Family Medicine are an essential information support on the health status of the patient and a communication document between health professionals. The development of competencies in General Practice/Family Medicine during pre-graduation must include the ability to make adequate medical records in practical context. As of 2012, medicine students at the University of Beira Interior have been performing visits using the Subjective, Objective, Assessment and Plan - SOAP methodology, with a performance evaluation of the visit, with the aim to check on which Subjective, Objective, Assessment and Plan - SOAP aspects students reveal the most difficulties in order to define improvement techniques and to correlate patient grade with tutor evaluation.Material and Methods: Analysing the evaluation data for the 2015 - 2016 school year at the General Practice/Family Medicine visit carried out by fourth year students in medicine, comparing the averages of each item in the Subjective, Objective, Assessment and Plan - SOAP checklist and the patient evaluation.Results: In the Subjective, Objective, Assessment and Plan - SOAP, 29.7% of students are on the best grade quartile, 37.1% are on the best competencies quartile and 27.2% on the best patient grade quartile. ‘Evolution was verified/noted’ received the worst grades in Subjective, ‘Record of physical examination focused on the problem of the visit’ received the worst grades in Objective, ‘Notes of Diagnostic reasoning / differential diagnostic’ received de worst grades in Assessment and ‘Negotiation of aims to achieve’ received the worst grades in Plan. The best tutor evaluation is found in ‘communication’.Discussion: Only one single study evaluated student´s performance under examination during a visit, with similar results to the presentone and none addressed the patient’s evaluation.Conclusion: Students revealed a good performance in using the Subjective, Objective, Assessment and Plan - SOAP. The findings represent the beginning of the introduction of the Subjective, Objective, Assessment and Plan - SOAP to the students. This evaluationbreaks ground towards better ways to teach the most difficult aspects.

European experience in the economic analysis of university spatial networking

2020 ◽  
Vol 19 (4) ◽  
pp. 780-796
Author(s):  
E.V. Bolgova ◽  
S.A. Bolgov ◽  
M.V. Kurnikova
Keyword(s):  
Higher Education ◽  
Economic Analysis ◽  
Spatial Organization ◽  
Local Development ◽  
Higher Education Institutions ◽  
Information Support ◽  
Driver Model ◽  
European Experience ◽  
Sound Management ◽  
The University

Subject. The paper deals with the economic analysis of university spatial networking. Objectives. The purpose is to work out methods for economic analysis of spatial network of higher education institutions based on the European experience and information sources of the space location of universities in the EU countries. Methods. The study rests on theoretical analysis of the higher education institutions network as a spatially localized system, economic and statistical techniques of sampling and grouping, methods for comprehensive economic indicators of distribution, indexing, and ranking. Results. We underpinned approaches to the university network development as part of the science-push and the local development driver model; developed information support and methods for economic analysis of spatial organization of university networks; presented and tested the methodology for assessing the university spatial networking. Conclusions. The offered methods enable to obtain the estimates of even distribution of universities across a country, which is achieved by the country policy. These methods may be recommended for sound management decisions and strategies for higher education institutions development, spatial and socio-economic growth, policies designed to equalize the level of social and economic development of subjects of the Russian Federation.

scholarly journals Does Audit Quality Matters in Malaysian Public Sector Auditing?

2019 ◽  
Vol 10 (3) ◽  
pp. 203
Author(s):  
Aida Hazlin Ismail ◽  
Natasha Binti Muhammad Merejok ◽  
Muhamad Ridhuan Mat Dangi ◽  
Shukriah Saad
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
Financial Stability ◽  
Audit Quality ◽  
Financial Statements ◽  
High Quality ◽  
The Public ◽  
Auditor Switching ◽  
Regression Test

Auditors play a key role in contributing to the credibility of the financial statements on which they are reporting. High-quality audits support financial stability. The responsibility for performing quality audits of financial statements rests with the auditors. However, audit quality is best achieved in an environment where there is support from and appropriate interactions among participants in the financial reporting supply chain. Most prior studies look into audit quality from the perspective of private sector however this study focus on the quality of public sector auditing in Malaysia. There are three independent variables being investigated in this study that are the auditor’s independence, auditor’s competency and auditor’s workload. Data were collected through the distribution of questionnaires to 114 samples of auditors involved in public sector audit in Malaysia. The data were analysed using correlation test and regression test. The findings of this study show that there are positively significant relationship between auditor’s independence and auditor’s competency on audit quality. The results revealed that auditor’s competency is the most significant factor affecting the audit quality in public sector audit. However, results show that auditor’s workload has a negative and insignificant impact on audit quality. Hence, this study recommends that the audit departments to strengthen the audit quality and could improve the quality of the financial reporting in the public sector. In addition, auditor’s competency should be enhanced among the auditors in public sector to ensure high quality of audit work performed. Future studies should explore other variables such as client satisfaction, auditor switching and auditor’s turnover in public sector auditing.

scholarly journals Are Public Sector Workers More Risk Averse Than Private Sector Workers?

ILR Review ◽  
1981 ◽  
Vol 34 (3) ◽  
pp. 408-412 ◽  
Author(s):  
Don Bellante ◽  
Albert N. Link
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Risk Aversion ◽  
Panel Study ◽  
Probit Analysis ◽  
Income Dynamics ◽  
The Public ◽  
Economic Reasoning ◽  
The University ◽  
High Degree

Available evidence suggests that stability of employment is greater in the public sector than in the private sector. The value that individuals place on this stability depends on the individual's degree of risk aversion. Economic reasoning suggests that, other things equal, those individuals with a high degree of aversion to risk will be more likely than others to seek employment in the public sector. This paper tests that hypothesis through the use of probit analysis and a measure of risk aversion developed in the University of Michigan's Panel Study of Income Dynamics. The results tend to confirm the hypothesis, implying that a policy of intersectoral equality of pay for comparable jobs would result in an excess supply of workers to the public sector.

scholarly journals INTERNAL AUDIT AND QUALITY OF FINANCIAL REPORTING IN THE PUBLIC SECTOR: THE CASE OF UNIVERSITY FOR DEVELOPMENT STUDIES

2021 ◽  
Vol 3 (1) ◽  
pp. 1-23
Author(s):  
Iddrisu Abdulai ◽  
Andrew Salakpi ◽  
Dr. Théophile Bindeouè Nassè
Keyword(s):  
Control System ◽  
Public Sector ◽  
Financial Reporting ◽  
Internal Control ◽  
Internal Audit ◽  
Development Studies ◽  
Fraud Prevention ◽  
Internal Control System ◽  
Information And Communication ◽  
The University

Many corporate failures have occurred over the years as a result of poor financial reporting practices that have eluded investors and other consumers of financial data. The research used the University for Development Studies (UDS) as a case study. The study focused on three main goals: identifying emerging determinants of quality financial reporting, examining the efficacy and adequacy of UDS's internal control structure, and determining how much Internal Audit contributes to quality financial reporting. The research used a descriptive survey template and a sample size of 70 people who were chosen using purposive and stratified sampling techniques. To achieve objectives one and two, the analysis used binary regression, while to achieve objective three, the Best (2005) index was updated and used. Financial reporting accuracy, a computerized accounting system, and personnel competence were found to be determinants of quality financial reporting in the study. It was discovered that UDS' internal control system is ineffective since two of the five main components that make up an efficient internal control system, namely control environment and information and communication, are not properly implemented. The study found that UDS' internal audit reflects an average level of fraud prevention in terms of the robustness of auditing processes and fraud prevention indicators, with the remaining indicators indicating a high level of fraud prevention. Overall, UDS' internal auditing reveals a high degree of prevention. The University for Development Studies (UDS) should analyze, define, and enforce control setting, information, and communication components of the internal control system that are appropriate for their work processes, as well as enhance the existing components, according to the report. Keywords: Internal Audit, Financial Reporting, Public Sector, Ghana.

scholarly journals FINANCIAL SUSTAINABILITY OF HIGHER EDUCATION INSTITUTIONS IN THE CONTEXT OF ENSURING THEIR DEVELOPMENT

2020 ◽  
Vol 288 (6) ◽  
pp. 95-100
Author(s):  
O. LAKTIONOVA ◽  
◽  
V. KOVAL ◽  
O. SLOBODIANIUK ◽  
L. PRYSTUPA ◽  
...  
Keyword(s):  
Higher Education ◽  
Financial Management ◽  
Financial Stability ◽  
Higher Education Institutions ◽  
Educational Programs ◽  
Financial Sustainability ◽  
Accounting System ◽  
Managerial Accounting ◽  
Educational Activities ◽  
The University

The article presents a strategic approach to the formation of financial sustainability of higher education institutions (HEIs), aimed at its development. It is determined that financial sustainability in the context of the strategy of the development is provided by the current solvency, as well as the created financial space, which contains two interrelated components: current (operational) financial space as financial opportunities created by exceeding the university income (for functioning), as well as strategic financial space as financial opportunities created by exceeding the income of the university its necessary expanses for the development. The indicators of financial stability have presented, which are taken into account during the financial management and setting appropriate strategic objectives that allows to assess the gap between the declared goals of the development strategy and financial opportunities, to make decisions about the optimization of operating and investment activities of HEI.It is proposed that operating financial space is also evaluated on the basis of its characteristics, such as: diversification of funding sources and revenues, their stability and flexibility of use. To maintain the financial sustainability of the university, it is also important to increase the profitability of educational programs and educational activities. It is justified that profitability maintains the financial sustainability of the HEI, thatmakes the increasing the profitability of educational programs and educational activities an impotent issue of financial management. Margin of safety in the income of the special fund from the main activity relative to the break-even point by the number of students of the university (faculty) one of the crucial profitability indicator, that requires appropriate managerial accounting system.

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