Retirement is one of the most serious challenges facing Brazil currently, considering the rapid pace of population aging, growing social inequalities, and the difficulty that Brazilians have in ...planning for their financial future. The number of studies on psychosocial factors in retirement is limited. The aim of this cross-sectional study is to determine Brazilian health workers' perceptions about financial planning for retirement, based on studies by Hershey and Mowen (2000). In this study, retirement saving - the dependent variable - is highlighted by the use of a model with the following antecedents: parental influence, retirement goal clarity and retirement planning activity level. The goals of the study were to establish mediating and moderating relationships as an innovative approach to the original model. Data was gathered from 319 workers at a private hospital in the municipality of Niterói, Rio de Janeiro (Brazil) who filled out a questionnaire concerning their saving behaviors and antecedents. Results indicated a model in which goal clarity mediated the relationship between parental influence and retirement saving, and retirement activity was observed to influence the level of retirement saving. The findings confirmed the complexities of financial planning for retirement, and emphasized important factors, such as parental advice starting in childhood and the effect of this advice on goal clarity. The results also pointed to the role of individual responsibility in the process, which depended on establishing a plan for activities. In addition to parental advice, an educational approach can contribute encouraging saving behaviors and helping retirees achieve financial security in retirement.
The Business Plan Reference Manual for IT Businesses provides a reference manual for undergraduate and graduate students who intend to launch a start-up business in the IT field. It offers a ...practical view of the process of modeling, designing and developing an IT start-up and can be used by entrepreneurs who wish to launch their own start-up.The chapters cover: marketing plans and market; financial and investment plans; and economic- financial projections.
The research is aimed at theoretical and practical aspects of financial planning of enterprises in conditions of volatility and instability of the external environment. Based on the generalization of ...approaches to the essence and the meaning of financial planning, its semantic characteristics are determined in terms of methodology in both broad and narrow context. The process of evolution of financial planning is considered from the point of view of formation of systems of financial economic activity management of enterprises, three stages of its genesis with specification of advantages and disadvantages are distinguished. The principles, types and methods of planning are systematized. The stages of financial planning at enterprises are distinguished and their role in balancing financial stability in the process of formation, accumulation, distribution and use of financial resources is determined. Based on the stages of financial planning, three main subsystems of activity planning (strategic forecasting, ongoing financial planning and operational planning of financial activities) are described. On the basis of the analysis of existing problems in financial management in case of instability and recurrence of crisis phenomena, a mechanism for organizing financial planning at enterprises is proposed. The need to improve the effective generation of cash flows in the long term is distinguished, taking into account strategic and long-term financial plans based on the scenario financial planning method.
Financial planning of state-owned enterprises as a management function ensures the formation, use, structuring and evaluation of resources for a year. To ensure the achievement of sustainable ...economic development of state enterprises, the substantiation of the concept of planning economic activity, the development of methodological and organizational approaches to the process of drafting financial plans is relevant. The purpose of the article is to substantiate the theoretical and practical principles of organization of planning economic activity as an element of economic policy at state-owned enterprises in the system of strategic management. Taking into account the unprofitable activity of most state enterprises of Ukraine, the methodical principles of financial planning are updated due to the possibility of ensuring the functioning of the enterprise by the available resources (financial and material). The article describes the organization of financial planning of economic activity of state enterprises in Ukraine and the procedure and structure of its formation and presentation. It also highlights the use of the concept of strategic management, which eliminates the extrapolation of past events, but indicators of which are calculated on the basis of trends of the enterprise, market and industry development, patterns, risks, assumptions. The methodical aspects of planning under the conditions of non-profitability or profitability of enterprises are described, which is the basis for determining the potential of the enterprise in terms of segments (types of activities). It is proposed to implement procedures for amending the approved financial plans on the basis of good reasons for compelling reasons, which are briefly formulated. Economic conditions that are appropriate to take into account when considering and approving economic policy for the implementation of financial planning are recommended and their content is disclosed. Methodical techniques of financial planning of economic activity, using flexible planning, introducing a threshold for making changes to financial plans, foreseeing a new section in the explanatory note “Changes to the financial plan” are proposed.
This paper analyzes why the improvement of a top-notch university system addresses a judicious, even unavoidable, arrangement approach for Jordan because of world university rankings. It gathers ...proof scrutinizing the worth of arrangements that immediate unjustifiable accentuation on the grouping of assets and the improvement of world-class universities, particularly in more modest countries. A few ongoing strategy drives have improved Jordan's capacity to keep a solid university system, and this has significant ramifications for the global advancement of Jordanian advanced education. The 'system' approach requires that Jordan keep on giving close consideration to world university rankings however foster more refined methods for characterizing and benchmarking universities to guarantee the necessary variety of institutional missions to accomplish all that is anticipated from the system.
Objective: This paper aims to examine practical knowledge in preparing financial statements (FStts), practical knowledge in information and communication technology (ICT) and ICT-enabled financial ...plan (ICTeFP) among entrepreneurial students within Universities in Oman. Research Design & Methods: Primary data were collected from university students to analyze practical knowledge in preparing FStts and related ICT skills. Items of FStts were considered to measure entrepreneurial students’ practical knowledge to prepare FStts. Besides, entrepreneurial students’ skills in basic Microsoft tools have also been considered. Findings: The findings were evaluated by applying structural equation modelling-partial least squares (SEM-PLS). The findings of the current study reveal that entrepreneurial students’ practical knowledge in preparing FStts is lacking whereas it shows that the students possess adequate basic skills in ICT. Thus, automated ICTeFP can be useful in managing entrepreneurship creativity and innovation course more effectively. Implications & Recommendations: The findings suggest that ICTeFP is an excellent contribution to enrich the recently compulsory course, (both for accounting and non-accounting students), entrepreneurship creativity, and innovation. Contribution & Value Added: The study solely for the entrepreneurial students who are studying the course, entrepreneurship creativity and innovation, in Oman. The research is one of the first to empirically analyze the relationship between practical knowledge in preparing FStts, practical knowledge in ICT, and ICTeFP among entrepreneurial students within universities in Oman.
The large number of joint stock companies causes that investors strive for better awareness and information in the stock area. The objective of the contribution is to apply the method of discounted ...FCFE in the valuation of a specific company and to determine the parameters for the model application in practice. The data for the analysis are obtained from the database of Kofola ČeskoSlovensko a.s. The data are taken from the published annual reports for the years 2018 and 2019. First, a financial plan for a period of stability was created. Subsequently, the discount value of the company was calculated using the FCFE model. Finally, the calculation of the company value in the continuation phase was calculated. To achieve the research goal, the individual FCFE need to be discounted by the value of equity using the CAMP model. In conclusion, it can be assumed that the discount rate will remain stable and the prediction of the growth rate will not change. If there are no fundamental changes in the company e.g. in terms of dividend payment, investment activities, or changes in the working capital, it can be assumed that the value of the company should be stabilized until 2021.
Charcoal plays a relevant role in developing countries, with potential to contribute to the energy needs as a cheaper and carbon-friendly alternative. In Brazil, eucalyptus-charcoal has gained ...attention as an input for metal-steel industries, mostly supplied by small and medium forest producers. Those commonly use rudimentary charcoal-kilns, characterized by higher greenhouse gas (GHG) emissions, reduced productivity and economically unsustainable impacted by their reduced financial management. In order to fulfill this gap, a simplified financial planning model and an economic analysis of a less polluting charcoal productive system, called kilns-furnace system, were performed, also comparing to traditional charcoal-kilns. A differentiated cost of capital pricing model was also proposed, adjusted to bioenergy projects in emerging markets. Results showed that kilns-furnace system presented the best financial indicators, with greater free cash flow capacity, shorter reimbursement period, reduced charcoal production cost, better return on invested capital and a financial resilience even under pessimistic conditions. With its risk-return ratio verified, kilns-furnace larger insertion may be an attraction for charcoal producers, with probable increased long-term economic sustainability when compared to traditional kilns. The proposed cost of capital pricing model opened a new perspective for its calculation in developing countries, and should be used by producers, companies, and government in investment decision and as a guidance for financing lines.
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.
A critical analysis of existing approaches, methods and models to solve the problem of financial resources operational management has been carried out in the article. A number of significant ...shortcomings of the presented models were identified, limiting the scope of their effective usage. There are a static nature of the models, probabilistic nature of financial flows are not taken into account, daily amounts of receivables and payables that significantly affect the solvency and liquidity of the company are not identified. This necessitates the development of a new model that reflects the essential properties of the planning financial flows system - stochasticity, dynamism, non-stationarity. The model for the financial flows distribution has been developed. It bases on the principles of optimal dynamic control and provides financial resources planning ensuring an adequate level of liquidity and solvency of a company and concern initial data uncertainty. The algorithm for designing the objective cash balance, based on principles of a companies financial stability ensuring under changing financial constraints, is proposed. Characteristic of the proposed model is the presentation of the cash distribution process in the form of a discrete dynamic process, for which a plan for financial resources allocation is determined, ensuring the extremum of an optimality criterion. Designing of such plan is based on the coordination of payments (cash expenses) with the cash receipts. This approach allows to synthesize different plans that differ in combinations of financial outflows, and then to select the best one according to a given criterion. The minimum total costs associated with the payment of fines for non-timely financing of expenses were taken as the optimality criterion. Restrictions in the model are the requirement to ensure the minimum allowable cash balances for the subperiods of the planning period, as well as the obligation to make payments during the planning period, taking into account the maturity of these payments. The suggested model with a high degree of efficiency allows to solve the problem of financial resources distribution under uncertainty over time and receipts, coordination of funds inflows and outflows. The practical significance of the research is in developed model application, allowing to improve the financial planning quality, to increase the management efficiency and operational efficiency of a company.