FINANCIAL MANAGEMENT SYSTEM OF UNITED TERRITORIAL COMMUNITIES: CONCEPTUAL FUNDAMENTALS OF THEORY AND PRACTICE

2021 ◽  
pp. 8-35
Author(s):  
Olesia Demianyshyna ◽  
◽  
Nataliia Osadchuk
Keyword(s):  
Economic Development ◽  
Financial Management ◽  
Management System ◽  
Main Tool ◽  
Theory And Practice ◽  
Strategic Development ◽  
Economic Relations ◽  
Socio Economic Development ◽  
Depth Study ◽  
Financial Management System

Local finances play an important role in society, as they are an objective form of economic relations at the level of administrative-territorial units and at the same time the main tool for implementing the policy of socio-economic development of regions. Under the conditions of decentralization, the wording of local finances has been changed, namely, it has been determined that the specific sphere of financial relations is the finances of a united territorial community. Their emergence is associated with the general implementation of reforms of local autonomy and organization of local government, and their further role depends on an in-depth study of theories and methods in this area. With the unification of territories and communities and the emergence of financial relations at the level of UTC has become an objective phenomenon of UTC finance, which requires detailed research through the prism of determining its role and place in the financial system, current challenges, strategic development and modernization.

scholarly journals Economic development and institutions in Mozambique: Factors affecting public financial management

2020 ◽  
Author(s):  
António S. Cruz ◽  
Fausto J. Mafambissa
Keyword(s):  
Economic Development ◽  
Financial Management ◽  
Management System ◽  
Separation Of Powers ◽  
Growth Strategy ◽  
Inclusive Development ◽  
Factors Affecting ◽  
The Public ◽  
Public Financial Management ◽  
Financial Management System

Mozambique has achieved incipient but still fragile socio-economic development since 1975. The public financial management system has been reformed and improved, but its performance has weakened since 2013. Applying an institutional economics approach, we have identified the economic growth strategy, the separation of powers principle, and the degree of decentralization as key factors affecting the public financial management system. As the current strategy based on natural resources seems to be failing, we suggest an alternative balanced growth strategy in the context of an effective democratic political system. It would entail the identification of policy priorities required for fostering sustainable and inclusive development.

Directions for improving the public finance management system of the country

2021 ◽  
Vol 2021 (8) ◽  
pp. 47-67
Author(s):  
Yurii LUPENKO ◽  
◽  
Yurii RADIONOV ◽  
◽  
Keyword(s):  
Public Finance ◽  
Economic Policy ◽  
Economic Development ◽  
Financial Management ◽  
Management System ◽  
Fiscal Rules ◽  
The Public ◽  
Finance Management ◽  
New Instrument ◽  
Socio Economic Development

The article analyzes the system of public finance management of the country, identifies a number of existing problems and outlines areas for further improvement and development. Emphasis is placed on the need to apply best practices in public finance management, in particular the introduction of a new instrument for coordinating fiscal and economic policy, called the European Semester, a tool for monitoring compliance with fiscal rules, similar to the German debt brake, and appropriate regulatory measures as well as the application of program-target budgeting method. It is expedient to create in Ukraine a tool similar to the European Semester in order to strengthen monitoring of the formation and implementation of fiscal, budgetary, economic policy of the state, promote broad public involvement and other stakeholders in 7collectivediscussion of budget requests, plans, concepts, socio-economic development strategies, carrying out structural economic reforms. The authors focus on the existing system of public finance management of the country, which requires an integrated approach, taking into account all components as a holistic mechanism of the system. It is emphasized that digitalization of the entire system and reduction of paperwork to zero will improve its manageability. In reforming the public financial management system, it is necessary to determine the unique role of each institution, which operates within a single mechanism and affects the effectiveness of its work, including those that assess its condition and ensure the reliability of the system, stimulate effective levers and tools finances. This will increase the efficiency of the distribution of budget expenditures, ensure the rational use of budget funds, sustainable dynamics of socio-economic development of the country, increase the welfare of citizens. Keywords: budget, budget funds, budget expenditures, public finance management system, socio-economic development of the country.

FORMATION OF THE EFFECTIVE FINANCIAL MANAGEMENT SYSTEM: THEORETICAL AND PRACTICAL ASPECT

2017 ◽  
Author(s):  
Liliіa Kustrich ◽  
Keyword(s):  
Factor Analysis ◽  
Financial Management ◽  
Management System ◽  
Management Tools ◽  
Essential Point ◽  
Strategic Development ◽  
Effective System ◽  
Strategic Goals ◽  
Financial Management System ◽  
Equity Management

The article investigates the tools and methods of forming an effective financial management system. It is stated that one of the forms of strategic development of the enterprise is the effective management of its financial component. It is specified that the construction of an effective financial management system provides the company with the opportunity to maintain a competitive position in the market and further economic development. It has been found that to build an effective financial management system essential point is the use of equity management tools. It is determined that one of the tools for building an effective system of financial management is factor analysis, which allows to assess the compliance of the processes of raising and using equity of the enterprise to the strategic goals of the enterprise. It has been pointed out that in the process of factor analysis the technique of multidimensionality of indicators of the studied object is used. The article investigates the tools and methods of forming an effective financial management system. It is stated that one of the forms of strategic development of the enterprise is the effective management of its financial component. It is specified that the construction of an effective financial management system provides the company with the opportunity to maintain a competitive position in the market and further economic development. It has been found that to build an effective financial management system essential point is the use of equity management tools. It is determined that one of the tools for building an effective system of financial management is factor analysis, which allows to assess the compliance of the processes of raising and using equity of the enterprise to the strategic goals of the enterprise. It has been pointed out that in the process of factor analysis the technique of multidimensionality of indicators of the studied object is used.

scholarly journals 5.2. FINANCIAL FORECASTING AS A KEY ELEMENT IN THE PUBLIC FINANCIAL MANAGEMENT SYSTEM IN THE CONTEXT OF SOCIAL AND ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION

2021 ◽  
pp. 79-87
Author(s):  
М.В. Куликов
Keyword(s):  
Economic Development ◽  
Russian Federation ◽  
Financial Management ◽  
Management System ◽  
Financial Forecasting ◽  
Russian State ◽  
The Russian Federation ◽  
Financial Management System ◽  
High Level ◽  
Social Economic Development

В статье автор поднимает проблемы низкого качества и невысокой значимости средне- и долгосрочных финансовых прогнозов социально-экономического развития Российской Федерации. Связано это прежде всего с высоким уровнем неопределенности и турбулентности внешней экономической среды, а также отсутствием необходимой целеустремленности у макроэкономических прогнозистов. В этой связи, по мнению автора, необходимо предпринять усилия по снижению влияния международных геополитических факторов на развитие экономики российского государства, а также по повышению мотивации у сотрудников органов государственной власти (прежде всего Министерства экономического развития РФ), занимающихся составлением прогнозов. Это позволит повысить уровень качества и достоверности финансовых прогнозов, необходимых для осуществления финансового планирования в системе управления финансами. In this article the author problematizes low quality and role of the mid – and long term financial forecasting of social-economic development of the Russian Federation. First of all, it is connected with the high level of uncertainty and multiple headwinds of extern economic area and with the absence of necessary purpose of macro-economic forecasters. In this regard, according to the author, it is necessary to make efforts to reduce the influence of international geopolitical factors on the development of the economy of the Russian State, as well as to increase the motivation of the employees of the State authorities (first of all, the Ministry of Economic Development of the Russian Federation) engaged in making forecasts. This will improve the quality and reliability of financial forecasts required for financial planning in the financial management system.

scholarly journals Integration of Accounting and Statistics in Financial Management of Financial Bureau

2020 ◽  
Vol 3 (5) ◽  
Author(s):  
Wei Zheng
Keyword(s):  
Economic Development ◽  
Financial Management ◽  
Management System ◽  
Local Economic Development ◽  
System Reform ◽  
Efficient Operation ◽  
Continuous Innovation ◽  
Financial Management System ◽  
Management Work ◽  
Local Work

The Financial Bureau is a functional department responsible for the expenditure management of local units. It not only undertakes the responsibility of formulating and revising the financial management system, but also supervises the strict implementation of the financial system by local units. The efficient operation of the Financial Bureau can ensure the smooth progress of local work and provide assistance for local economic development. Currently, with the rapid economic development, all government departments are carrying out system reform and innovation of working methods to improve the work efficiency and make up for the deficiencies in the work. Accounting and statistics are the key links throughout the financial management work of the Financial Bureau. With the continuous innovation of the management system of the Financial Bureau, accounting and statistics will be more closely integrated.

Transformation of Scientific Approaches to the Practice of Regulating the Socio-Economic Development of a Region

2018 ◽  
Vol 11 (4) ◽  
pp. 102-110
Author(s):  
N. P. Molchanova
Keyword(s):  
Economic Development ◽  
Regional Economy ◽  
Historical Context ◽  
Scientific Discipline ◽  
State Regulation ◽  
The State ◽  
Economic Relations ◽  
Current Period ◽  
Socio Economic Development ◽  
Legislative Framework

The paper deals with the methodology and practice of the state regulation of the regional economy based on the legislative framework and works of Russian scientists in the historical context with account for the specifics of the current period of market transformation. The subject of research is organizational and economic relations, aimed at improving the management efficiency of regional socio-economic development. The purpose of research was to identify the key problems of the regional economy regulation preventing the balanced functioning of administrative-territorial entities and substantiate the need to boost measures of state support. Based on the dialectical cognition method and the system approach, the positions of leading scientists and scientific schools on topical issues of the regional economy as a scientific discipline were analyzed, which made it possible to identify the main reasons hampering socio-economic transformations and justify measures for running a more active regional policy. It is concluded that consistent improvement of methodological and organizational approaches creates prerequisites for improving the results of the socio-economic development at the regional level; however, in the current situation of the macroeconomic instability serious problems may arise to be resolved primarily by the state regulation.

PKM Usaha Ilabulo Bakar Kecamatan Kota Selatan Provinsi Gorontalo

2019 ◽  
Vol 3 (2) ◽  
pp. 206
Author(s):  
Rahma Rizal ◽  
Haditsah Annur
Keyword(s):  
Financial Management ◽  
Management System ◽  
Online Marketing ◽  
Community Partnership ◽  
Selling Price ◽  
Sales Training ◽  
Business Partners ◽  
Online Sales ◽  
Financial Management System ◽  
Partnership Program

The partner in the community partnership program is Usaha Ilabulo Bakar. Ilabulo is a typical snack from Gorontalo. Formerly by the kings, Ilabulo symbolizes "Totombowata" which means united. PKM program by taking independent business partners as Ilabulo Bakar business actors. Partners who until now have many competitors that are difficult to develop. Every time Ilabulo was made per night, it could only be around 500 - 600 packs. The selling price per pack is around Rp. 5,000. Related to this PKM program the proposer wants to expand his business with ilabulo products globally by online marketing. This PKM program will help partners in the form of packaging improvements, product taste and quality, brands that do not yet exist, aspects of sales using only verbal communication, as well as simple management, the concept of inventory in warehouse does not yet exist and the financial management system is still lacking manual. and online sales training (e-commerce) of ilabulo Bakar products can be made as souvenirs typical of Gorontalo.

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