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Abstract

Details

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

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Article
Publication date: 22 November 2022

Hamid Zarei, Hassan Yazdifar, Ahmad Nasseri and Mohsen Dahmarde Ghaleno

There is a dearth of research that investigates the impact of national culture on budgeting and management indexes in the public sector across developing countries…

Abstract

Purpose

There is a dearth of research that investigates the impact of national culture on budgeting and management indexes in the public sector across developing countries. Limited studies in accounting and management have explained the role of national culture in shaping organisational and individual values. It is posited that national cultural variables impact budget transparency and performance management. This study contributes to the literature by examining these relations in 16 developing countries.

Design/methodology/approach

Adopting an unbalanced timing framework, the current paper seeks to fulfill this gap and applies four cultural dimensions from the GLOBE study (House et al., 2004) as explanatory variables to investigate whether national culture is associated with budget transparency and performance management or not, particularly in the context of developing countries. The paper uses budget transparency as the first dependent variable, based on the OECD database from Qi and Mensah (2011), along with performance management as the second dependent variable, from the BTI Project (2016), according to the leadership's political performance management.

Findings

Generally, the empirical findings reveal a minimal relation among GLOBE cultural variables with budget transparency and performance management. Particularly, the empirical findings indicate that only performance orientation has a significant relation with budget transparency and performance management.

Research limitations/implications

The findings of this paper suggest that any plan to improve a nation's budget transparency should consider the links between budgeting, performance management and the culture of those that run them.

Originality/value

The formal adoption of new methods by performance management may not be enough without accompanying efforts to transform performance orientation as an index of national culture.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 3 November 2022

Eric Litton

This paper applies the theory of loss aversion to public budgeting. It seeks to understand how loss aversion affects recommended budget amounts in two scenarios, one with…

Abstract

Purpose

This paper applies the theory of loss aversion to public budgeting. It seeks to understand how loss aversion affects recommended budget amounts in two scenarios, one with explicit and one with implied risk levels. It also furthers the understanding of how the personality trait of risk propensity moderates recommended budget amounts in these scenarios.

Design/methodology/approach

Utilizing original data gathered from experimental vignettes, 339 US-based participants provided budget recommendations on two separate federal education programs. Participants were current budget professionals and master's-level students. One program utilizes a risky choice frame scenario while the other uses a goal frame scenario.

Findings

Participants are more likely to select a risky program option when the options are framed in terms of loss. Additionally, participants recommended larger budgets when they select the riskier program option. When presented with program goals, participants budget more when the goals are framed in terms of loss as opposed to gains. Results on participant risk propensity are mixed.

Practical implications

The discussion section includes multiple recommendations on how managers can approach budgeting with the intent of obtaining the most efficient budget allocation for the programs under their control.

Originality/value

The study is the first to examine framing and risk propensity in budgeting using two different types of framed messaging. Additionally, it is the only study to ask participants to recommend a budget amount after selecting a risky choice option. Therefore, results are more relevant to the entire process of public budgeting. Also, the study includes a mixture of participants with and without finance experience, providing insight into how different public employees allocate funds.

Details

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

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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

Article
Publication date: 5 October 2022

Elisha Mavodyo

This paper analyses the direct relationship between budget deficits and economic growth, the channels through which budget deficits inhibit growth and finally, the Granger…

Abstract

Purpose

This paper analyses the direct relationship between budget deficits and economic growth, the channels through which budget deficits inhibit growth and finally, the Granger causality between budget deficit and economic growth in South Africa over the period 1975 to 2020.

Design/methodology/approach

In a bid to control for endogeneity that is common in economic growth regressions, the author employed the dynamic ordinary least squares (DOLS) approach.

Findings

Towards analysing the direct relationship between budget deficit and economic growth, results show that a 10-percentage rise in the budget deficit slows economic growth by 0.2 percentage points. Results show that the growth inhibiting consequences of the budget deficit in South Africa are principally driven by negatively affecting private and public physical capital accumulation growth, as well as a drop in gross national savings. However, results show no evidence of a deficit reduction effect through long term-real interest rate. The findings reveal a one-way Granger causality running from budget deficits to economic growth.

Practical implications

Based on the findings in this article, expanding the fiscal deficit to support growth is not a viable policy option for the South African economy.

Originality/value

The originality of this paper lies in establishing the Granger causality between budget deficit and economic growth, thus adding to the scant literature, as well as establishing the channels through which budget deficit retards economic growth for the South African economy.

Details

African Journal of Economic and Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-0705

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…

439

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

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