FINANCIAL PLANNING AT THE ENTERPRISE

The article is devoted to the research analysis of typical financial planning at the enterprise. The search for patterns and trends in financial planning is carried out. The stages of creating a financial plan are described. Various methods of financial planning are shown and the importance of managing personnel in making managerial decisions is revealed. The current patterns in financial management are revealed. The financial management process is structured. In conclusion, it was concluded that the consistency of financial management depends on the size of the enterprise. The main goal of the company is to make a profit and it is possible to achieve this with the help of financial management

Pola pengelolaan pendapatan keluarga buruh tani dalam rangka memenuhi kebutuhan hidup

Income management can be identified the pattern through income and expenditure streams. This study aims to determine the pattern of income management of farm labor families in Bakung Pringgodani Village in order to meet the needs of life. This research is a qualitative research with a case study method where researchers collect data will focus on a case encountered in a family of farm workers in Bakung Pringgodani Village. The obtained data were observed and analyzed carefully to the end with the aim of understanding a phenomenon or event experienced by the family farm laborers in the village of Bakung Pringgodani. The suggestions from this study are: Farm workers' families are expected to be able to make or arrange a written financial plan so that it can facilitate the allocation of income and control expenses in order to fulfill the needs of family life. Abstrak Pengelolaan pendapatan dapat diketahui dari pola pendapatan dan pengeluaran. Penelitian ini bertujuan untuk menganalisa pola pengelolaan pendapatan pada keluarga petani untuk memenuhi kebutuhan mereka, di Desa Bakung Pringgodani. Penelitian ini merupakan penelitian kualitatif yang menggunakan metode studi kasus, dimana peneliti focus pada kasus-kasus yang dialami para keluarga petani di Desa Bakung Pringgodani. Data yang telah terkumpul diobservasi dan dianalisa untuk menjabarkan dan memahami fenomena yang dialami oleh para keluarga petani di Desa Bakung Pringgodani. Oleh karena itu, para keluarga petani disarankan untuk menyusun rencana keuangan tertulis untuk membantu pengalokasian pendapatan dan mengontrol pengeluaran dalam pemenuhan kebutuhan keluarga

Financial Planning: Applications to Business Startups "Jamu Partnership" in Indonesia

Background – PT OAM is a startup company in the field of jamu partnerships in Indonesia. Jamu itself is a traditional health drink product originating from Indonesia. As a startup company in running the jamu partnership business, of course PT OAM really needs to carry out financial analysis by calculating and analyzing existing parameters. The data obtained from this analysis will be able to assist company management in making strategic decisions both now and in the future. One of the analyzes is an investment feasibility analysis. In addition, a method to assess the feasibility of an investment is also needed in identifying the prospect of an investment plan. The prospect of an investment plan can be used as a basis for making a decision to accept or reject an unprofitable investment. Financial planning is one of the important aspects for the sustainability of PT OAM jamu partnership business. Method – Using financial plan framework Result – This financial analysis can help companies in financial decisions. Keywords: Financial Plan, Startups, Jamu Partnership, Business Opportunity, Indonesia.

Antecedent of lack of proficiency and the need for an automated financial plan for the course entrepreneurship creativity and innovation

Purpose This study aims to analyze antecedents of students’ lack of proficiency (in preparing financial statements, cash flow statements, cost volume profit analysis and budgeting) and the need for an automated financial plan (AFP) for the course entrepreneurship creativity and innovation within Higher Educational Institutions (HEIs) in Oman. Design/methodology/approach The study used a set of four instrument items containing questionnaires to measure the variables in this study. A cross-sectional study was carried out at various universities and colleges in Oman during the year 2020, comprising 174 students from different majors. The results were analyzed using structural equation modelling-partial least squares. Findings The findings of the study suggest that the students in the universities and colleges should be educated and facilitated to enable them to gain more knowledge in finance/accounting through an AFP and, thus, warrants preparation of fair financial estimation for their innovative business project. A majority of students strongly support the need for implementing an AFP for their compulsory course, entrepreneurship creativity and innovation in HEIs in Oman. Research limitations/implications This research is restricted to AFPs for the students in Oman who study the course entrepreneurship creativity and innovation. It is recommended that future study may extend to automated business plans for the students to improve their practical knowledge pertinent to the readiness of Omani students, as well as to give material transformation of internal environments in HEIs. Practical implications Unique AFP for university and college students for their compulsory course, entrepreneurship creativity and innovation provide important resources for policymakers responsible for HEIs, allowing them to improve the quality of preparing a financial plan for their innovative business ideas and new business start-ups. Originality/value There has been little discussion about the need for an AFP for the students who study the course entrepreneurship creativity and innovation. This study analyzes accounting standards as antecedents about students’ lack of proficiency towards an AFP for the course entrepreneurship creativity and innovation of universities and colleges in Oman which tries to fill this gap in the existing research. Hence, this study is considered as a novel approach that has not been broadly discussed in the earlier research.

Corporate financial planning during the digitalization of the economy

Subject. Due to the current circumstances of the economic crisis, high competition, impact of the COVID-19 pandemic, enterprises decide to develop the digitalization of financial planning, since it will allow them to use new IT resources, quickly respond to market changes and manage their resources flexibly. Objectives. I herein study possible ways of developing the digitalization of financial planning for industrial enterprises. Methods. The study is based on methods of empirical (observation, collection and selection of facts and tracing their relationship) and theoretical research (study into the internal structure and development patterns of systems and phenomena, their interaction). Results. The article unveils what urged to start the digital transformation, and determined key challenges and avenues of the digitalization of financial planning for industrial enterprises. Conclusions and Relevance. During the crisis, financial planning should follow from the strategy to tactics. Strategic financial planning requires to look into the future of the development, understand the objective, analyze strengths and weaknesses, summarize strategic alternatives, and choose aspects for further optimization. Setting up a new financial plan to become more competitive and effective, in the current circumstances of the economic digitalization, the enterprise should convert into a new IT format, which would ensure the comprehensive nature of planning procedures, their continuity to make the system more flexible and adapt it to the production specifics in terms of the time horizon, type of production, and conditions of internal and external operations.

Impact of Agile Methodology on Software Development Life Cycle

Software engineering strategies had been hired for decades to create software products. The most challenging task for the development of software is to select appropriate software development methodologies. Software developers use agile techniques to reduce the problems faced by the traditional waterfall process. These days, the motivation behind most programming associations is to give programming in a fast time, inside financial plan and changing situations that propelled the conveyance of Agile. The strategy that utilizes iterative expansion and prototyping is generally utilized in an assortment of industry ventures as a lightweight advancement method that could fulfil the alterations of necessities. Short cycles are utilized which can be required for proficient item delivery. In the paper, we become mindful of the impacts that the coordinated strategy has programming improvement strategies with prominence to decent inside the authoritative, efficient, and social system. Coordinated methods are not in every case great, they have a few restrictions too. In this paper, we likewise clarify the estimations of Agile, its points of interest, and its weaknesses.

Long axial field of view PET scanners: a road map to implementation and new possibilities

In this contribution, several opportunities and challenges for long axial field of view (LAFOV) PET are described. It is an anthology in which the main issues have been highlighted. A consolidated overview of the camera system implementation, business and financial plan, opportunities and challenges is provided. What the nuclear medicine and molecular imaging community can expect from these new PET/CT scanners is the delivery of more comprehensive information to the clinicians for advancing diagnosis, therapy evaluation and clinical research.

Information support for the state-owned enterprises management under uncertainty caused by the COVID-19 pandemic

The article highlights new approaches to understanding the place and role of accounting in business management within the modern views on essence and functions of management. Accounting is considered as a service function in relation to the management of entities, including state ones, but also it has assumed the task of providing the information support of risk management. The aim of the article is to study the information support of SOE management under uncertainty caused by COVID-19 pandemic. It has been proved that the state fiscal risks are associated with the asymmetry of SOE accounting information and financial statements. The information support of SOE management depends on financial planning. This is conducted through the financial plan as the subject of management. The financial plan defines the tasks and performance indicators that must be achieved by SOE. The author mentions the positive aspect of regulation of planning and reporting on the implementation of the plan of SOE saying that the legislation provides an approach to the formation of planning and reporting information based on national standards’ and IFRS methodology. At the same time, the assessment of methodology of planning SOE activities should take into account the contemporary state of financial plan preparation. Today preparation of SOE financial plan must comply with limits on expenditures set by CMU Resolution No. 1673. However, it doesn’t consider the IFRS existence, which affects the amount of costs and for which professional judgment is made. There is a possibility for costs’ manipulations in legislation for SOE. The COVID-19 pandemic increases fiscal risks and stimulates necessity to apply a number of measures aimed at overcoming them and improving management information support in the new conditions.

Financial planning for retirement of self-employed workers in the Ghanaian economy

PurposeThe purpose of this study was to ascertain the types of financial plan Ghanaian self-employed workers have towards their retirement, and the main forces that motivate these workers to financially plan for their pension.Design/methodology/approachThe study focused on self-employed workers aged from 15 to 60 years. Questionnaires were administered in gathering data for the study. The researcher used probit model in analysing the driving forces behind self-employed workers' financial planning for retirement.FindingsThe study revealed that bank/credit union/savings and loans savings, building of apartments for renting, investment in SSNIT pension, investment in treasury bills/fixed deposits, investment in ownership of business and private insurance pension are the types of financial plan that exist for self-employed workers towards their retirement. The study found that age, marital status, level of education, household size, number of children, renting a house, life style of the future retiree, income, risk level of job and types of retirement plan are the driving forces behind the retirement plans of self-employed workers.Practical implicationsUsing the identified types of financial plan and driving forces in this study, governments in the developing countries can develop and implement self-employed pension schemes, educate and encourage more self-employed workers to plan for their retirement.Originality/valueAnalysing the driving forces behind retirement plans of self-employed people in developing economies.

Towards Personal Financial Sustainability Based on Human Capital Analysis in Korea

Financial sustainability for individuals has become more important due to the increase in life expectancy. In personalized lifetime financial planning, human capital is critical for incorporating the life-cycle of individuals. This study focuses on human capital modeling based on features such as education level and working industry, and presents how difference in human capital can affect the optimal asset allocation. By analyzing the Korean labor and income panel survey data, fixed effects regression was performed to model human capital and a portfolio model that maximizes utility of total wealth is solved to optimize the lifetime financial plan. The empirical results show that individuals with human capital that are more correlated with stocks are advised to reduce allocation in stocks.