Tag Archives: financial management

Exploration of the Private Sector Roles Including Small and Medium Enterprises (SME’s) in Climate Finance (Published)

Climate change as a topic has gained great interest all over the world and countries and organizations are increasingly in need of such information as will help in mitigating the adverse effects of climate changes. This research aimed to deepen knowledge on the roles played by the private sector including Small and Medium Enterprises on climate finance and environmental sustainability. The research explores the rise of the private sector involvement in climate finance with a focus on SME’s. There however are not many studies that gather and systematize the available knowledge about the issue of SMEs’ involvement in environmental sustainability and the concern with sustainable development in the face of climatic changes. This paper presents the analysis and main gaps from a systematic review of literature together with empirical studies based on the exploration of private sector roles including SME’s in climate finance. The research drew upon both primary and secondary sources including websites, journals, memoirs, published papers, letters and a collection of primary sources within the scope of study. The overall approach of this research was inductive whereby it was concerned with the creation of new body of knowledge from the data that was generated and analyzed whose findings were summarized. Key findings were that most prior research dwelt on generation of awareness about changing climates and increasing research in the area of climate finance, though most SMEs and the private sector have not actively been participating in the area. The research concluded that the private sector needs to play a greater and non-partisan role in sponsoring formulation of policies, generation of finance and sustaining awareness in the area of climate finance. The key recommendations from this study included a shift from generation of finance to sustainability of the financing solutions that will have lasting solutions.

Elias B. Walela & Peter K. Kahihu (2023) Exploration of the Private Sector Roles Including Small and Medium Enterprises (SME’s) in Climate Finance, International Journal of Weather, Climate Change and Conservation Research, Vol. 8 No. 2, pp. 39-56

Keywords: Climate Change, Environmental sustainability, Private Sector, Sustainability, climate finance, financial management

Influence of Public Procurement Practices On Service Delivery in Kilifi County Government, Kenya (Published)

The concept of procurement has dominated most the functions of the county governments because of its value in the role of enhancing and promoting delivery of services. This research sought to study the influence of public procurement practices on service delivery in Kilifi County government, Kenya. The study was guided by the following objectives: To assess the influence procurement planning practice on service delivery in Kilifi County government; to find out the Influence of tendering practice on service delivery in Kilifi County government; to determine the influence of procurement policies on service delivery in Kilifi County government and finally to establish the influence of financial management practice on service delivery in Kilifi County government. The study adopted descriptive research design. The study was guided by three theories namely agency theory, stakeholders and contingency theory. Employees who dealt with procurement were selected purposively and census technique was adopted to select respondents from procurement department. The study population comprised of 70 respondents that included the procurement staff, head of procurement as well as committee members of the budget. Primary data was collected using closed-ended questionnaires. A pilot study was done in Mombasa County to determine any possible weakness in the instruments. Data was analyzed using Statistical Software for Social Sciences (SPSS). Cronbach Alpha used to measure the coefficient of reliability that yielded 0.788 in this study. Frequency distribution table were used in the presentation of the data. Multiple regression models were used to analyze data. The findings of the study showed that the predictors variables that included Procurement planning practice, Tendering Practice, Procurement Policy and Financial Management Practice explained 81.7% in the variation of service delivery in Kilifi County with the R square value (R2=0.817). The study concluded that independent variables    significantly influenced the service delivery in Kilifi County with; Procurement planning practice X1 (β =0.433, p˂ 0.05); Tendering Practice X2 (β =0.001, p˂ 0.05); Procurement Policies X3 (β =0.326, p˂ 0.05) and Financial Management Practice X4 (β =0.098, p˂ 0.05). The study recommends that the county leadership should come up with relevant tendering policies to ensure openness, integrity and transparency in all tendering process. There should be strong financial management mechanisms to avoid wastage during procurement functions and processes. In addition, all county stakeholders should be involved in the procurement process for the purpose of ensuring timely service delivery in line with the procurement specifications.

Citation: Mwakiru W.and  Barasa  P.W. (2022) Influence of Public Procurement Practices On Service Delivery in Kilifi County Government, Kenya, European Journal of Logistics, Purchasing and Supply Chain Management, Vol.10 No.2, pp.15-35

 

Keywords: Kilifi county government, Procurement Planning, Service delivery, financial management, tendering practice

Contribution of CSSC Training Program in Enhancing Decision for Catholic Sponsored Secondary School Heads in Musoma Diocese Mara Tanzania (Published)

The study examined the contribution of Christian social service commission management training program in enhancing decision-making on financial management process by heads of Catholic sponsored secondary schools in Catholic Diocese of Musoma. The study was anchored on Human Relations Theory of management which was developed by Marry Parker Follet. The study employed a mixed-method approach in which convergent design was be used. Targeted population community members of nine projects and one leader of CSSC in Catholic Diocese of Musoma. The sample for included eighty project school, heads of school’s teachers and non-teaching staff. Data to answer the research questions of this study was collected using two data collection instruments namely; questionnaires, and interview guides.  Questionnaires was used to obtain quantitative information from teachers, interview guide was used to collect qualitative data from non-teaching staff, heads of Schools and Chief Coordinator of CSSC. Validity of instruments was assured trustworthiness and dependability by requesting three researchers’ experts from Mwenge Catholic University and the Validity of qualitative data was through peer review and triangulations. The reliability was tested by using the Cronbach’s Alpha formula using Likert scale questions. The descriptive statistics was analyzed using mean scores, frequencies and percentages and presented in Tables. Analysis of qualitative data was through thematic and transcribe the data was presented in narrations form that which was supported by direct quotations. All along with the study, the researcher highly considered research ethics including the consent of the respondents and confidentiality of the information. The research findings revealed that the heeds of schools enhance the use of decision making on financial management skills in their schools as they were trained but they need to improve the use of the skills to involves all staffs. Basing on the findings of the research study, it can be concluded that the training of CSSC to school heads in Catholic Diocese of Musoma who attended the program enhances the use of decision making on financial management skills in their schools as they were trained in but only, they need to improve the use of the skill to involve both staffs means teaching staff and non- teaching staff on decision making on financial management. The study recommends that training shall be provided to both school managers and heads of schools to enable them to achieve school goals of teachers and institutions.

Citation: Marando E.S., Lyamtane E., Muteti  C. (2022) Contribution of CSSC Training Program in Enhancing Decision for Catholic Sponsored Secondary School Heads in Musoma Diocese Mara Tanzania, European Journal of Training and Development Studies, Vol.9 No.3, pp.1-15

 

Keywords: Christian social service commission, Decision Making, Effectiveness, 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