Financial planning and improving of its methods

Several systems of budgeting have been introduced into practice over the last fifty years. While more popular budgeting systems such as incrementalism and Planning Programming Budgeting Systems (PPBS) have seen continued popularity and resilience as budgeting systems, zero-based budgeting (ZBB) has experienced a resurgence in popularity, as governments and public organizations alike seek to control wasteful spending within their departments. The aim of this article is to provide users with a step-by-step guide to designing zero-based budgeting for public organizations. This article begins by describing the foundations of zero-based budgeting, as well as providing a brief comparative exploration of ZBB alongside other contemporary budgeting systems. To gain a deeper understanding of zero-base budgeting and the potential, as well as the drawbacks that this type of budgeting system holds, this paper examines the actual experience of several organizations that have implemented the zero-based budgeting method. This is accomplished by conducting a critical review of all the research and case studies that have been conducted on this topic. It is the hope of the author that both public sector and non-profit organizations will benefit from the findings of this paper when considering the implementation of their own zero-based budgeting, resulting in better planning and performance evaluation.

This study aims to examine the degree of financial literacy and practices of financial knowledge among MBA students in Nepal. Four prominent universities were selected for study: Tribhuvan University, Kathmandu University, Pokhara University, and Purbanchal University. The descriptive and analytical research approach was applied to analyze the data. Data were collected through questionnaires from 320 students by using convenience and stratified sampling methods. The analysis was conducted using the SPSS software system. The results highlight the complex interplay of factors influencing financial behavior and literacy among MBA students, emphasizing the importance of education, familial influence, and media exposure in shaping financial attitudes and decision-making. The study delves into several key aspects of financial behavior, influence, attitude, literacy, and knowledge sources among MBA students. Notably, respondents displayed positive financial behaviors such as reading for knowledge enhancement and prudent spending practices. Parental influence emerged as the most significant factor shaping financial decisions, followed by media and internet exposure. Respondents generally exhibited a favorable financial outlook and demonstrated understanding in various financial literacy domains, though areas for improvement, particularly in investment risk comprehension, were identified. The study shows how education, family influence, and media exposure affect MBA student’s financial think, how people handle finance, like their education and where they get information from. This is seen as reflected in financial literacy scores ranging from 1.43 to 3.86, with an average of 2.405 and a standard deviation of 0.449, suggesting below-average scores and reduced unpredictability.

Small and medium-sized enterprises (SMEs) are crucial to South Africa’s economy as they provide employment, contribute to development, reduce poverty, and promote entrepreneurship. However, the COVID-19 pandemic has severely impacted SMEs in the country, posing a threat to their survival. The purpose of the study was to identify the financial planning critical success factors that are essential for SME performance in a post-COVID-19 pandemic environment. The study followed a positivist paradigm, and a quantitative survey approach was employed. South African SMEs across the various sectors of business were targeted to provide a holistic view of the financial planning strategies contributing to performance. A total of 282 questionnaires were completed electronically by the SME owners using Google Forms, which were then analyzed using SPSS and Smart PLS software. The regression model for structural equation modeling revealed a strong and significant link between financial planning and SME performance. Financial planning has a strong, significant positive effect on SME performance, as indicated by the path coefficient (β = 0.227, p = 0.002). The importance of this study lies in its ability to provide valuable insights to businesses regarding financial planning strategies to enhance SME success in a post-COVID-19 environment.