Tag Archives: financial management

The Influence of Communication Proficiency to Student’s Academic Performance in Financial Management Course (Published)

English language has been the primary language of communication in financial services such as banking, stock trading, insurance, investment banking, asset and company valuations, among others. It has also become a basic skill needed for a workforce. The ability to communicate using this language is very essential for a business leader to succeed internationally. As future financial managers, students who are taking Bachelor of Science in Business Administration Major in Financial Management is expected to possess a strong foundation on theory, principles and concepts, as well as analytical skills, perception, and competencies necessary for successful financial decision-making in the business world. Based on observations, majority of students are performing below average on the said course because they find it difficult to understand the exercises, case studies, and financial scenarios. These issues spurred the researcher to examine whether their proficiency in English course significantly influences their academic performance in Financial Management course. The study used descriptive correlational research method in order to test the relationship between the academic performance in two English courses and Financial Management Course of 4th year BSBA Financial Management students Batch 2015-2016. A total of 75 BSBA Financial Management students was used in the study. The research instrument of the study was their final grades in three courses involved. Based on the results, there was a weak positive relationship between the students’ academic performance in both Communication Courses and Financial Management course. However, Communication Skills Courses does not significantly influences the academic performance of the students in Financial Management Course. It also showed that there were no significant differences in the academic performance of the students in Communication Skills Courses and Financial Management Course when they are grouped according to gender. Since the result shows that Communication Skills Courses has a relationship with the academic performance of students in Financial Management, it is recommended that Communication Skills Courses should be aligned more on communication activities applicable to business environment rather than using elementary English. College students should be exposed more on business terminologies for them to have a better capability of grasping the knowledge in other business subjects.  It is also recommended that the College of Business Administration of Bulacan State University should also establish course objectives to Communication Skills Courses that is more relative to business setting rather than adapting the generic course objectives of English courses. Teachers are also influencing academic performance of students. Lastly, it is recommended that English Teachers should attend courses, workshops, or seminars on communication skills that is applicable on business setting in order to channel this knowledge to their students.

Keywords: : Academic Performance, Communication Proficiency, Communication Skills, financial management

Internal Control System for Financial Management in the Church: A Case of Protestant Churches in Eldoret Municipality, Kenya (Published)

The study aims at evaluating the Internal Control System (ICS) which can be used for effective financial management in the Church. The objectives were to determine if ICS is in place, its role, challenges faced during implementation and its relationship with financial management among Protestant Churches in Eldoret Municipality. Using the descriptive statistics, 76.5% of the respondents confirmed that ICS was in place. However, only one type of internal control (control activities) existed in the Churches sampled which also plays a minimal role. ICS related challenges faced include lack of ICS knowledge, resistance to adapt ICS, shortage of staff to implement and Church’s management reluctance. This was shown by 76.5%, 52.9%, 52.9% and 58.8% respectively. In regards to ICS and financial management, majority of the respondents (76.5%) indicated their relationship to be positive.  The researchers recommends more scholarly works to be done to make roles of ICS seen to crucial, how to address the challenges faced during development and implementation of ICS as well as how to make ICS an effective financial management technique.

Keywords: Corruption, Internal Control System, financial management

FINANCIAL MANAGEMENT SKILLS REQUIRED OF PRINCIPALS FOR THE IMPLEMENTATION OF THE UNIVERSAL BASIC EDUCATION PROGRAMME IN JUNIOR SECONDARY SCHOOLS IN EBONYI STATE OF NIGERIA (Published)

The study investigated the financial management skills required of principals for the implementation of the Universal Basic Education programme in Ebonyi State junior secondary schools. Three research questions and two null hypotheses were formulated for the study. The population of the study was 2,221 junior secondary school principals across urban and rural areas of the state. Disproportionate simple random sampling technique was used to select 1,000 junior secondary school principals for the study. The study adopted descriptive survey method. The instrument for data collection was a questionnaire known as Financial Management Skills Questionnaire (FMSQ). Data collected were analysed using mean and standard deviation. t-test statistic was used to test the hypothesis at 0.05 level of significance. Findings revealed that junior secondary school principals require budgetary skills for financial management for the implementation of the UBE programme in Ebonyi State junior secondary schools. Based on the findings it was recommended among others that government should organize workshops and seminars for junior secondary school principals to update their knowledge more on financial skill management

Keywords: Implementation, Junior Secondary., Universal Basic, financial management

ACCOUNTING FOR INFLUENCE OF EXECUTION OF FINANCIAL CONVENTIONS ON REVENUE UTILIZATION IN LOCAL GOVERNMENT AREAS: NIGERIA’S EXPERIENCE OF LEVEL OF VOLUNTARY COMPLIANCE (Published)

This study was carried out on accounting for influence of execution of financial conventions on revenue utilization in local government areas: Nigeria’s experience of level of voluntary compliance. It was aimed at assessing the level of compliance to the execution of financial conventions and how this affects revenue utilization in local government areas in Nigeria with particular reference to Cross River State. Data were collected through well developed survey instruments. The data collected were analyzed using both Karl Pearson correlation coefficient and regression analyses. The analyses revealed that the execution of financial conventions has significant influence on financial control efficacy and revenue utilization. The study concluded that if there is proper compliance to a higher level of execution of financial conventions, there will be effective financial management and control, as well as proper revenue utilization in local government areas in Cross River State-Nigeria. Consequently, the accomplishment of set goals and objectives of formulating and executing financial conventions. Therefore, the applicable authorities in local government areas should make tangible effort to ensure that staffs adheres strictly to financial conventions when handling financial and economic matters

Keywords: Financial conventions, Level of voluntary compliance, financial management, public goods., revenue utilization

ACCOUNTING FOR INFLUENCE OF EXECUTION OF FINANCIAL CONVENTIONS ON REVENUE UTILIZATION IN LOCAL GOVERNMENT AREAS: NIGERIA’S EXPERIENCE OF LEVEL OF VOLUNTARY COMPLIANCE. (Review Completed - Accepted)

This study was carried out on accounting for influence of execution of financial conventions on revenue utilization in local government areas: Nigeria’s experience of level of voluntary compliance. It was aimed at assessing the level of compliance to the execution of financial conventions and how this affects revenue utilization in local government areas in Nigeria with particular reference to Cross River State. Data were collected through well developed survey instruments. The data collected were analyzed using both Karl Pearson correlation coefficient and regression analyses. The analyses revealed that the execution of financial conventions has significant influence on financial control efficacy and revenue utilization. The study concluded that if there is proper compliance to a higher level of execution of financial conventions, there will be effective financial management and control, as well as proper revenue utilization in local government areas in Cross River State-Nigeria. Consequently, the accomplishment of set goals and objectives of formulating and executing financial conventions. Therefore, the applicable authorities in local government areas should make tangible effort to ensure that staffs adheres strictly to financial conventions when handling financial and economic matters.

Keywords: Financial conventions, Level of voluntary compliance, financial management, public goods., revenue utilization