MBA606 Principles Of Financial Management

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MBA606 Principles Of Financial Management

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MBA606 Principles Of Financial Management

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Course Code: MBA606
University: University Of Fujairah

MyAssignmentHelp.com is not sponsored or endorsed by this college or university

Country: United Arab Emirates

Question:

Analyze and evaluate the effect of capital structure on financial performance during global recessionary environment.
This is where you explain the project subject in sequential orders. If you use subheadings, this is the way to format them.
Sustainable procurement in the public sector: an international comparative study.
The Changing Facets of Public Administration in the United Arab Emirates. 
Performance management practices in public sector organizations:
Creative accrual accounting in the public sector Milking water utilities to balance municipal budgets and accounts.
Sustainable procurement in the United Kingdom public sector. 

Answer:

Introduction:
Research topic for the report is “Budgeting system or practices in the public sector”.  Budgeting is a procedure which is systematically followed by the individual, organizations, government and there in order to forecast the future performance and set the strategic goal accordingly. Public sector develops the budgets in order to monitor and manage the progress towards the objectives, goal and product the profits and future cash flows. The preparation and presentation of budgetary reports are essential for the business and the public sector in order to make the changes in the strategies and meet the goals of the business effectively.
In order to evaluate the impact of the budgeting process on the public sector, Fujairah Municipality has been taken into the concern. Fujairah is an Arabic city which is located in the United Arab of Emirates. The municipality department of the city has been studied in order to evaluate that how the budgetary services have impacted on the public sector performance. At the initial level, the municipality department used to prepare the budgetary in order to forecast the future only. But along with the time, the political, economical, accounting, legal and administrative department has also been taken into the concern to measure the performance and the impact level. The budgetary report and the practices are the most functional process in the business. The UAE market has faced huge changes and varies in the budgetary practices and system in last few years.
Research question:
The main topic of the research is as follows:

What is the impact of the budgetary practices in the public sector?
How the practices affect over the budgetary performance in the public sector?

Literature review:
Literature review study has been done further in order to evaluate that what is the budgetary practices and system and how it affect the public sector performance and their process. In order to meet the answers of the research question, 5 research paper and articles have been studied and it has been found that how the changes in the practices affect the level of the accounting practices:

Author (year)

Dependent variable

Independent Variable

Sample

Findings

Further
Research

(Kerry Jacobs, 2012)

Public sector accounting and their performance

Budgetary practices and system

Last 16 years public sector accounting research

It has been found that the various approaches have been adopted in last few years which have made it easier for the accountant and the stakeholders to understand the performance of the public sector.

Though, few factors have not been considered while conducting the study such as requirement of the changes and the advancement in the budgetary practices.

(Frank H.M. Verbeeten, 2008)

Performance management practices in the public sector  

Budgetary practices and system

The public sector department of Netherlands has been taken as sample for the research

The research report explains that last 20 years were significant for the Netherlands market and in these years, various positive changes have taken place in the public sector performance because of the budgetary system and practices.

Information technology and the changes in the auditing practices have not been taken into the concern.

(EIJA M. VINNARI AND SALME NASI, 2008)

Public sector accounting and their performance

Budgetary practices and system

The primary and secondary both the data has been taken into the concern to conduct the study.

The paper explains that the budgetary accounting systems used to focuses on the revenues and expenditure. But currently accrual based accounting and budgetary is used at most in order to manage the economical and political performance of the public sector. Because of the changes, the opportunities have also been improved.

Other valuation method and economical factors have not been studied in the report.

(Helen Walker and Stephen Brammer, 2007)

United kingdom Public sector accounting and their performance

Budgetary practices and system

Questionnaire and the public sector of UK was the main sample for the study.

The research paper explains that barriers in front of the public sector have been removed because of the changes in the public sector of the business. The sustainable procurement has been seen in the UK public sector companies after the changes in the budgetary practices and the system.

The corporate social responsibility of public sector has been eliminated in the report.

(Stephen Brammer, 2010)

Public sector’s procurement

Budgetary practices and system

280 articles from the 20 countries have been taken into the context while performing the study.

The budgetary system and the practices are crucial to make the changes in the decision level and the strategies of public sector. On the basis if the budgetary reports, the revenue and the expenditure of the public sector is managed.

Advanced changes and the future performance have not been studied in the report.

Jacobs (2012) has conducted a research over the last 16 years public sector accounting papers and it has been estimated that the organisational and political theories have been changed and along with that the systems have also been altered. these changes have positively impacted on the understanding level of the budgetary as well as because of these changes, the budgetary reports in the public sector actually started making the sense. The argument research has been done and it has been concluded that the changes are the essential and the changes in the budgetary practices are impacting passively on the internal as well as external stakeholders of the business.
Verbeeten (2008) explains that the Netherlands public sector companies have faced various changes in last 20 years. The reasrch explains that the budgetary services have impacted on the public sector performance. At the initial level, the public sector used to prepare the budgetary in order to forecast the future only. But along with the time, the political, economical, accounting, legal and administrative department has also been taken into the concern to measure the performance and the impact level. Currently, the changes are very positive in the Netherlands market and leads to the conclusion that the advances system is useful for the public sector to maintain the performance level.
Vinnari and Nasi (2008) have reported in their research paper that the budgetary practices and sample are dependent variable because of that the performance of the public sector has been affected at huge level. At earlier level, the budgetary accounting and systems used to focuses on the revenues and expenditure. But currently accrual based accounting and budgetary is used at most in order to manage the economical and political performance of the public sector. Because of the changes, the opportunities have also been improved. The preparation and presentation of budgetary reports are essential for the business and the public sector in order to make the changes in the strategies and meet the goals of the business effectively.
The report and the study explains that the changes have taken place into the budgetary system and practices in last few years and these changes are significant for the public sector, Because of these changes in the practice, it has been easier for the stakeholders and the other parties to understand the changes and make the decisions accordingly. The study explains that the current role of budgetary practices and system is crucial in the public sector. Public sector develops the budgets in order to monitor and manage the progress towards the objectives, goal and product the profits and future cash flows.
Data collection and methodology:
Research methodology:
Research methodology is a process which explains that what are the topics and methods which must ne studied and followed in order to get an outcome about the research proposal. In the paper, the changes in the Fujairah Municipality have been taken into the concern to identify that how a budgetary system or practice affects the overall level of the public sector. Along with the changes, the other characteristics, impact and other relatable factors have been studied in the report. The main sample for the reasrch is changes in the Fujairah Municipality because of the changes into the budgetary sector.
Data collection:
Data collection is a major topic in a research which evaluates available information or gathers the information from the scrap to identify and evaluate the problem and reach over a conclusion about the ain outcome from the issues. Mainly the data is collected by the researches through 2 ways: Primary and secondary. Here, in this report, the secondary data has been taken into the concern and the already done research on the Fujairah Municipality has been studied to identify that how the changes in the practices have affect the market performance and stakeholder position of the public sector.
The Sarker & Al Athmay, (2018) has represented into his study that years before, the public sector and the municipal department of the Fujairah used to follow the traditional methods and the practices to strategise and forecast the future expenses on the basis of the available revenue. Budgetary accounting and systems used to focuses on the revenues and expenditure. But the current report of the Fujairah municipal part explains that the accrual based accounting and budgetary is used at most in order to manage the economical and political performance of the sector. Because of the changes, the opportunities have also been improved. The preparation and presentation of budgetary reports are essential for the business and the public sector in order to make the changes in the strategies and meet the goals of the business effectively.
It has been measured that after implementation of the advanced technology and practices in the municipal party of Fujairah, the successful reformation has been seen. These reforms have been possible because of the political, accounting, auditor and the executive support and co-operation among the internal stakeholders of the municipality. The changes management practice of the Fujairah municipality made it easier for the public sector to improve at better level.
Time scale:
The time scale study represent about the total time which has been taken to conduct the study and reach over a conclusion. The below given time scale chart represent the total time of each of the activity of the business:
The time scale chart explains that the total time was limited for the research and thus the quality of the conclusion could be affected because of it. Each of the activity has been given average time from the available time to reach over a conclusion.
Conclusion:
To conclude, the budgetary practices in the municipal party of Fujairah, have efficiently improved the performance. The changes management practice of the Fujairah municipality made it easier for the public sector to improve at better level. It has been concluded that the budgetary practices must be followed by each of the public sector to improve the performance.
References:
Brammer, S., (2011). Sustainable procurement in the public sector: an international comparative study. International Journal of Operations & Production Management, 31(4), 452-476.
Jacobs, K. (2012). Making sense of social practice: theoretical pluralism in public sector accounting research. Financial Accountability & Management, 28(1), 1-25.
Sarker, A. E., & Al Athmay, A. A. A. R. A. (2018). The Changing Facets of Public Administration in the United Arab Emirates. International Journal of Public Administration, 41(10), 832-844.
Verbeeten, F. H. (2008). Performance management practices in public sector organizations: Impact on performance. Accounting, Auditing & Accountability Journal, 21(3), 427-454.
Vinnari, E. M., & Näsi, S. (2008). Creative accrual accounting in the public sector:’Milking’water utilities to balance municipal budgets and accounts. Financial Accountability & Management, 24(2), 97-116.
Walker, H., & Brammer, S. (2009). Sustainable procurement in the United Kingdom public sector. Supply Chain Management: An International Journal, 14(2), 128-137.

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