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Abstract

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Financial Modeling for Decision Making: Using MS-Excel in Accounting and Finance
Type: Book
ISBN: 978-1-78973-414-0

Abstract

Details

Simplifying the Complex
Type: Book
ISBN: 978-1-83867-972-9

Book part
Publication date: 13 December 2004

Laura Francis-Gladney, Harold T. Little, Nace R. Magner and Robert B. Welker

Large organizations typically mandate that managers attend budget meetings and exchange budget reports with their immediate supervisor and budget staff. We explored…

Abstract

Large organizations typically mandate that managers attend budget meetings and exchange budget reports with their immediate supervisor and budget staff. We explored whether such organization-mandated budgetary involvement is related to managers’ budgetary communication with their supervisor in terms of budgetary participation, budgetary explanation, and budgetary feedback. Questionnaire data from 148 managers employed by 94 different companies were analyzed with regression. Mandatory budget meetings with supervisor had a positive relationship with all three forms of budgetary communication with supervisor, and mandatory budget reports from supervisor had a positive relationship with budgetary explanation from supervisor. Mandatory budget meetings with budget staff had a positive relationship with both budgetary participation with supervisor and budgetary feedback from supervisor. Mandatory budget reports from budget staff had a negative relationship with all three forms of budgetary communication with supervisor. The results failed to support proposed relationships between mandatory budget reports to supervisor and budgetary participation with supervisor, and between mandatory budget reports from supervisor and budgetary explanation from supervisor. Implications of the results for future research and budgetary system design are discussed.

Details

Advances in Management Accounting
Type: Book
ISBN: 978-0-76231-139-2

Book part
Publication date: 11 August 2016

Dmitry L. Komyagin

This chapter is devoted to budget investments in the Russian Federation, which nowadays have a double meaning. This fact often causes confusion and misunderstandings in…

Abstract

This chapter is devoted to budget investments in the Russian Federation, which nowadays have a double meaning. This fact often causes confusion and misunderstandings in the implementation of investment activities.

Traditional Russian understanding of investment corresponds to the concept of capital expenditures or investments in fixed assets. As a result of budget investments, according to the budget legislation, the cost of public property necessarily increases. Such investments are budget expenditures for the creation (or purchase) of new capital assets. In this case, the budget investments are like a synonym for capital expenditures.

A new approach to the concept of cost of investments is linked to perception and rethinking of the concept of investment prevailing in the countries of Western Europe and North America. Under this approach, investments are understood as a commercial activity of the foreign investors, which consist of investing their funds in an unlimited range of objects of entrepreneurial activity in the territory of Russia. This approach is also embodied by the legislation of the Russian Federation.

However, in the second (not traditional for Russia) meaning, investment are carried out at the budget execution. These are, for example, assets of sovereign wealth funds of the Russian Federation, which are called the Reserve Fund and National Welfare Fund. These funds are formed by part of the revenues associated with oil production in the case of it exceeding its cost base per barrel, and the free assets of these funds are located in certain foreign currencies and securities.

Details

The Spread of Financial Sophistication through Emerging Markets Worldwide
Type: Book
ISBN: 978-1-78635-155-5

Keywords

Book part
Publication date: 24 October 2018

T. F. Romanova, L. V. Bogoslavtseva and V. V. Terentjeva

This chapter defines the prospects of treasury technologies considering the current financial environment in Russia. The purpose of this chapter is to justify the…

Abstract

This chapter defines the prospects of treasury technologies considering the current financial environment in Russia. The purpose of this chapter is to justify the promising treasury technologies, which improve the quality of budget flows’ management. The authors highlight the mission, role, and values of treasury institute. The evaluation of its functional activity and efficiency as well as the world experience in the development of the institution is provided. Comparative analysis of treasury technology for the implementation of foreign budgets with domestic practice is provided. The need for development of treasury technologies providing the liquidity of “single treasury account” is justified. This chapter suggests expanding the positive experience of the Federal Treasury using treasury technologies to ensure the efficient use of budgetary funds on both, regional and local levels.

Details

Contemporary Issues in Business and Financial Management in Eastern Europe
Type: Book
ISBN: 978-1-78756-449-7

Keywords

Article
Publication date: 26 July 2021

Anil K. Narayan and John Kommunuri

This paper aims to provide a commentary on how well the New Zealand (NZ) Government has used the budget as a tool to tackle the social and economic problems associated…

Abstract

Purpose

This paper aims to provide a commentary on how well the New Zealand (NZ) Government has used the budget as a tool to tackle the social and economic problems associated with the COVID-19 pandemic. The role of public budgeting as a political instrument is also critiqued.

Design/methodology/approach

An analysis was carried out of relevant documents that included government policy statements, budgets, news articles and website information on the pandemic. Meaningful interpretation of information and reflections helped provide the basis of the commentary.

Findings

Public budgeting has a prominent role in addressing a major global crisis. Budgets need to quickly respond to the needs of the moment in saving lives and sustaining people’s well-being, businesses and the economy. In a crisis situation, the social, political and economic factors become crucial determinants of budgetary policy measures. Although strong political leadership is required to deliver budgets under unimaginable circumstances, the ideology of the political party in government can be a powerful predictor of fiscal policies. Crisis budgeting will result in mounting budget deficits and public debts that will take many years for future generations to pay back.

Practical implications

This paper provides a significant learning for other nations. These lessons will guide budget policymakers to prepare better for potential crisis in the future.

Originality/value

This paper is original and based on the NZ Government’s budgetary response to the COVID-19 pandemic. It will be valuable in formulating budget policies and public funding decisions in a major crisis.

Details

Pacific Accounting Review, vol. 33 no. 5
Type: Research Article
ISSN: 0114-0582

Keywords

Content available
Article
Publication date: 7 October 2020

Vladimir Klimanov, Sofia Kazakova, Anna Mikhaylova and Aliya Safina

The purpose of the study was to analyze how COVID-19 pandemic affects regional budgets and regional fiscal resilience in Russia.

Abstract

Purpose

The purpose of the study was to analyze how COVID-19 pandemic affects regional budgets and regional fiscal resilience in Russia.

Design/methodology/approach

The research article is structured as follows. Based on the official data from the Ministry of Finance, the Federal Treasure and the Accounts Chamber of the Russian Federation, first, the state of Russian regional budgets before and under COVID-19 is analyzed. Second, due to the increase of regional spending commitments under pandemic the regional debt dependence is reviewed. Third, anticrisis fiscal measures which have been taken to combat the negative impact of COVID-19 are discussed.

Findings

In general, 2020 may be the most difficult for regional budgets, although the results of the first quarter do not show such tension. However, the impact of COVID-19 on budget indicators is ambiguous because the economic crisis of 2020 is dual, including the crisis in the oil markets. The pandemic has become a unique global phenomenon, the effect of which is difficult to identify and interpret outside of the economic aspects of life.

Originality/value

The value of the article is based on the overview of the state of regional budgets before and under COVID-19, on the analysis of how pandemic affects fiscal resilience of the regional budgets and on the forecast of how serious the volume of lost revenues are going to be.

Details

Journal of Public Budgeting, Accounting & Financial Management, vol. 33 no. 1
Type: Research Article
ISSN: 1096-3367

Keywords

Article
Publication date: 30 March 2022

Elizabeth Welch, Karen Jones, Diane Fox and James Caiels

Integrated care continues to be a central aim within health and social care policy in England. Personal budgets and personal health budgets aim to place service users at…

Abstract

Purpose

Integrated care continues to be a central aim within health and social care policy in England. Personal budgets and personal health budgets aim to place service users at the centre of decision-making and are part of a wider long-term initiative working towards personalised and integrated care. Personal budgets began in social care with the national pilot programme of individual budgets, which aimed to incorporate several funding streams into one budget, but in practice local authorities limited these to social care expenditure. Personal budgets then moved into the health care sector with the introduction of a three-year personal health budgets pilot programme that started in 2009. The purpose of the paper is to explore the post-pilot implementation of personal health budgets and explore their role in facilitating service integration. We examine this through the RE-AIM framework.

Design/methodology/approach

During 2015 and 2016, eight organisational representatives, 23 personal health budget holders and three service providers were interviewed, 42 personal health budget support plans were collected and 14 service providers completed an online survey.

Findings

Overall, personal health budgets continued to be viewed positively but progress in implementation was slower than expected. Effective leadership, clear communication and longer-term implementation were seen as vital ingredients in ensuring personal health budgets are fully embedded and contribute to wider service integration.

Originality/value

The paper highlights the importance of policy implementation over the longer-term, while illustrating how the venture of personal health budgets in England could be a mechanism for implementing service integration. The findings can serve to guide future policy initiatives on person-centred care and service integration.

Details

Journal of Integrated Care, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1476-9018

Keywords

Article
Publication date: 14 May 2018

Anatoly Kiselev, Tatyana Svetlichnaya, Nikolay Petrov, Leila Botasheva, Kirill Dolgopolov and Evgeny Apolsky

The formation of an information society in Russia requires new approaches in the implementation of citizen’s rights to access information. At a modern time, when the…

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Abstract

Purpose

The formation of an information society in Russia requires new approaches in the implementation of citizen’s rights to access information. At a modern time, when the resources of internet are available to almost everyone, the modern financial and legal institutions adapt or are obliged to adapt to the modern model of the information society. Not so long ago, just at the beginning of the twenty-first century, new information and legal concept – Civil budget – was introduced. The authors tried to show concrete examples of what it is, what it is, its structure and principles. The authors believe that the realization of the idea of a Civic budget in the Russian Federation will increase the accessibility of information for citizens about the financial performance and financial state and municipalities will allow the State itself, through its Government and the Parliament, to form the budget, based not only on macroeconomic goals and objectives of the country, and objectives of each, even the most small territorial unit in accordance with the needs of living of its citizens.

Design/methodology/approach

The problem is not new and, in one way or another, exists in all States, but many countries have undertaken very effective reforms and have made improvements in the situation. For example, in Brazil, in the city of Port Alegre, a budget initiative was launched in 1990. Then, it was “replicated” in 400 prefectures throughout the country. The procedure begins with the assembly of residents of the district, where citizens discuss and outline budget priorities, and ends with the approval of the city budget by delegates directly elected at district assemblies. The success achieved in Porto Alegre was further spread: in 1996-2000, budgeting options were implemented in 100 municipal districts, including São Paulo. In 2000-2004, it is estimated to be implemented in another 250 municipalities.

Findings

The access of the population to budget information is a positive factor not only from the point of view of budgetary law but also in the legal field of information law. Such an opportunity is a direct implementation of principles of the industry such as the principle of publicity and the principle of priority of individual rights. State bodies that form and execute the state budget are, initially, already subjects of the information law, but the above-mentioned activities for monitoring, collecting and providing information within the framework of the Civil budget concept lead them to a new qualitative level of rights and obligations within the framework of information relations, which is unquestionably a positive factor for the activities of these bodies.

Originality/value

The authors believe that the realization of the idea of a Civic budget in the Russian Federation will increase the accessibility of information for citizens about the financial performance and financial state, and municipalities will allow the State itself, through its Government and the Parliament, to form the budget, based not only on macroeconomic goals and objectives of the country, and objectives of each, even the most small territorial unit in accordance with the needs of living of its citizens.

Details

International Journal of Law and Management, vol. 60 no. 3
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 29 May 2009

Seonghee Oak and Raymond S. Schmidgall

The purpose of this paper is to understand whether budgetary controls at clubs have changed from the mid‐1980s to the first decade of the twenty‐first century.

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Abstract

Purpose

The purpose of this paper is to understand whether budgetary controls at clubs have changed from the mid‐1980s to the first decade of the twenty‐first century.

Design/methodology/approach

The survey instrument is mailed to the members of the Club Managers Association of America. The questionnaire includes demographic data as well as information on budgetary controls.

Findings

For control purposes, comparisons to the original budget and actual numbers during the current decade have increased significantly from comparisons in the prior decade. The median variance tolerance for food and labor costs has declined from the mid‐1980s to the mid‐1990s and now to the first decade of the twenty‐first century. Median variance tolerances for beverage costs are slightly higher in this study than in the mid‐1990s study.

Research limitations/implications

The authors are unable to determine any statistical differences between current and prior studies due to a lack of prior data. Further research on tolerable control variances can be studied for other costs, such as supplies, energy, and fixed charges.

Practical implications

This paper provides findings that can help managers as they compare their budgetary control practices with US club industry practices. Educators can provide selected cost control information to their hospitality students focusing on club management and researchers can use this information as a base for further research in cost control areas.

Originality/value

This paper is the first paper on budgetary controls in the US club industry in the twenty‐first century.

Details

International Journal of Contemporary Hospitality Management, vol. 21 no. 4
Type: Research Article
ISSN: 0959-6119

Keywords

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