Search results for: financial management skills

Authors: Edmond Jaro Malihan

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This study aimed to develop and propose Project Financial Literacy Information Program (FLIP) for the Schools Division of Quezon to improve the financial management skills of Supreme Student Government (SSG) officers across different school sizes. This employed a descriptive research design covering the participation of 424 selected SSG officers using purposive sampling procedures from the SDO-Quezon. The consultation was held with DepEd officials, budget officers, and financial advisors to validate the design of the self-made questionnaires in which the computed mean was verbally interpreted using the four-point Likert scale. The data gathered were presented and analyzed using weighted arithmetic mean and ANOVA test. Based on the findings, generally, SSG officers in the SDO-Quezon possess high financial management skills in terms of budget preparation, resource mobilization, and auditing and evaluation. The size of schools has no significant difference and does not contribute to the financial management skills of SSG officers, which they apply in implementing their mandated programs, projects, and activities (PPAs). The Project Financial Literacy Information Program (FLIP) was developed considering their general level of financial management skills and the launched PPAs by the organization. The project covered the suggested training program vital in conducting the Virtual Division Training on Financial Management Skills of the SSG officers.

Keywords: financial management skills, SSG officers, school size, financial literacy information program

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Authors: Som Pal Baliyan

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The purpose of this quantitative study was to analyze farm management skills in broiler poultryproducers in Botswana. The study adopted a descriptive and correlation research design. The population of the study was the poultry farm operators who had been in broiler poultry farming at least for two years. Based on the information from literature, a questionnaire was constructed for data collection on seven areas of farm management skills namely; planning skills, accounting and financial management skills, production management skills, product procurement and marketing skills, decision making skills, risk management skills, and specific technical skills. The validity and reliability of the questionnaire were accomplished by a panel of experts and by calculating the Cronbach’s alpha coefficient, respectively. Data were collected through a survey of 60 randomly sampled poultry farm operators in Botswana. Data were analyzed through descriptive statistical tools whereby the level of farm management skills were determined by calculating means and standard deviations of the management skills among the broiler producers. The level of farm management skills in broilers producers was discussed. All the seven farm management skills were ranked based on their calculated means. The specific technical skills and risk management skills were the highest and the lowest ranked farm management skills, respectively.Findings revealed that the broiler producers had skills above the average level only in specific technical skills whereas the skill levels in the remaining six farm management skills under study were found below the average level. This prevailing low level of farm management skills can be justified asthe cause of failure or poor performance of the broiler poultry farms in Botswana. Therefore, in order to improve the efficiency and productivityin broiler production in the country, it was recommended that the broiler poultry producers should be adequately trained in areas of planning skills, financial management skills, production management skills, product procurement and marketing skills, decision making skills and risk management skills.

Keywords: poultry production, broiler production, management skills, levels of skills

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Authors: Abongile Zweni

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As a post-apartheid strategy to redress the social imbalances of the past, local governments are tasked with the role of delivering crucial services to their constituents. Apart from political instability, evidence shows that managers in South African municipalities lack effective financial management skills and competencies. This resulted in a failure to fulfill its administrative obligations, particularly municipal financial management. Most municipalities have, however, failed in this role, which has led them to be placed under administration by the provincial government in terms of Section 139 of the constitution of the Republic of South Africa. Thus, this study proposed a leadership conceptual framework for effectively managing ever-eroding municipal finances in South Africa. The study adopted a desktop research approach to explore the key components of leadership and municipal financial management toward the development of the conceptual framework. The study fostered a better understanding of the need for transformation in relation to the current financial management practices and sustainability of a municipality. Moreover, the conceptual framework applies not only to municipalities but also to other government departments and public authorities in the country for financial management.

Keywords: leadership, municipal finance, financial performance, management skills, municipality

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Authors: Adekunle Olakunle Felix

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Research will be based on the financial management importance within organization and its important role in non-economic and economic activities that provide us the useful information about the efficient procurement and utilization of finance in a profitable manner. Due to industrialization, financial management become a vital part of business and it is very important for the business concern that with a good financial management to earn maximum profit.

Keywords: management, business, profitability, organization, financial, efficiency

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Authors: Rimac Smiljanic Ana, Pepur Sandra, Bulog Ivana

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Financial decision-making in the household is not simple, and it demands that the decision-maker has proper knowledge and skills. Usually, high uncertainty, risk, and stress surround household financial decision-making since it is extremely important and critical for household wealth accumulation and for the well-being of all household members. Generally, skilful people tend to have higher confidence in certain tasks they perform, and they achieve better results. Therefore, in the household context, the possession of certain skills by the ones who make financial decisions for the household is of particular importance. This paper addresses financial literacy as an important skill for household decision-making. Apart from financial literacy, the paper also considers other factors, such as employment, education, and age, as significant for household financial decision-making. The analysis is based on quantitative individual-level survey data. The data collection was conducted during January and February 2021 in Croatia through an online survey. To reach a wide variety of participants, the snowball sampling method was used. The result revealed interesting and somewhat puzzling results. Our results point to the importance of financial literacy skills for household decision-making.

Keywords: skill, financial literacy, decision-making, household financijal decision making

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Authors: Agih Ukuru Agih

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This work is an appraisal of the application and applicability of computer system to financial management in improving the speed, performance, accuracy, and efficiency of the College of Education, Oju. The computerization of financial management, which is a recent development that has authentic and dedicated balancing of accounting records, would be of enormous benefits to the college. The core objective of this project is to recommend the software that typically matches a computerized institution, making for improved service, reduced fraud, mishandled funds, and financial records in the College of Education, Oju. Considering major globalization impacts in computerized financial management of the college, the study recommends among other things that the College of Education, Oju should endeavor to be positive towards computerized financial management in the institution.

Keywords: computer system, balancing, accounting records, computerized financial management

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Authors: Zaiton Osman, Phang Ing, Azaze Azizi Abd Adis, Izyanti Awg Razli, Mohd Rizwan Abd Majid, Rosle Mohidin

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This study is conducted to investigate the level of financial literacy among students taking Financial Management and Banking in Universiti Malaysia Sabah, Malaysia. Students are asked to answer basic financial literacy questions in their first class before study commence and the similar questions were given in their final week of study (after 14 weeks of study duration). The comparison on their level of financial literacy will be examined. This study is expected to yields the following findings; firstly, comparison of the level of financial literacy 'before and after' courses in finance being introduced can be revealed. Secondly, it will provide suggestion on improving the standard of teaching and learning in financial management and banking courses and lastly it will help in identifying financial courses that are important in improving the level of financial literacy among students in Malaysia.

Keywords: financial literacy, university students, personal financial planning, business and management engineering

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Authors: Barbora Chmelíková

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Financial literacy is a widely discussed topic on the national and international level by governments, organizations and academia. For this reason this study analyses financial knowledge, financial behavior and financial attitudes of students of finance. The aim of the paper is to determine whether the financial literacy of university students studying finance differs from the level of financial literacy in selected OECD countries. The research was conducted at Masaryk University in the Czech Republic. The empirical study comprises questions related to several aspects of financial literacy, as well as socio-demographic data enabling more thorough analysis. The results indicate that improvement in financial literacy of university students is still required, even though their major is finance related.

Keywords: financial literacy, financial behavior, personal finance management, university students

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Authors: Mahfoud Djebbar

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The past two decades or so have witnessed phenomenal growth of the Islamic financial services industry. The whole industry has been thriving at about 15 percent per annum. This development entails the Islamic financial engineering, IFE, to some kind of crossroads, lagging behind its conventional counterpart. Therefore, IFE, and particularly traded products development, and in order to achieve its goals, two approaches are available, i.e., replicating engineering and innovative engineering. We also try to emphasis the innovative strategy since it guards the Islamic identity of different financial products and processes, and thereby, improves the creativity in the Islamic financial industry. The attempt also centers on sukukization (Islamic securitization), innovation, liquidity management, and risk management and hedging in the Islamic financial system. Finally, the challenges facing IFE are also addressed.

Keywords: islamic financial engineering, hedging and risk management, innovation, securitization, money market instruments, islamic capital markets

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Authors: Fatima Ibnchahid

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Competence approach is considered, since the early 80's as one of the major development of HR policies. Many approaches to manage the professional skills were declined. Some processes are mature whereas the others have been abandoned. Competence can be defined as the set of knowledge (theoretical and practical), know-how (experience) and life skills (personality traits) mobilized by a person in the company. The skills must master a logistics manager are divided into two main categories: depending on whether technical skills, or managerial skills and human. The firsts are broken down into skills on logistical techniques and on general skills in business, seconds in social skills (self with others) and personal (with oneself). Logisticians are faced with new challenges and new constraints that are revolutionizing the way to treat the physical movement of goods and operations related to information flows that trigger, they control and guide the physical movements of these major changes, we can mention the development of information technology and communication, the emergence of strong environmental and security constraints. These changes have important effects on the skills needs of the members of the logistical function and sensitive development for training requested by logistical managers to perform better in their job changes. In this article, we will address two main points, first, a brief overview of the management skills and secondly answer the question asked in the title of the article to know what are the skills that will master a logistical manager.

Keywords: skills, competence, management, logistical function

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Authors: Anocha Rojanapanich

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The objective of this research is to investigate the effects of earnings management on corporate transparency of the company in Dusit area workplace via financial reporting reliability and stakeholder acceptance as independent variable. And the company in Dusit are are taken as the population and sample. The questionnaire is used to collect data. Exploratory Factor Analysis is implemented to ensure construct validity, and correlation statistic is selected to test the relationship among all variable and the ordinary least squares regression is used to explore the hypothesized. The results show that earnings management has a significant and negative impact on financial reporting reliability, stakeholder acceptance, and corporate transparency. Both financial reporting reliability and stakeholder acceptance have an important and positive effect on corporate transparency, and they are then mediators of the earnings management-corporate transparency relationships.

Keywords: dusit area workplace, earnings management, financial report, business and marketing management

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Authors: Prasansha Kumari

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Financial Literacy is the possession of knowledge and understanding of financial matters. Financial Literacy often entails the knowledge of properly making decisions pertaining to certain personal financial areas like real estate, insurance investing, and savings. This paper intends to identify and analyze the financial knowledge among university undergraduates by using 200 undergraduates in four faculties of University of Kelaniya, Sri Lanka. Collected data will be analyzed by descriptive research method using SPSS package. Expected outcomes are considerable percentage of undergraduates have basic knowledge on financial matters while it has a law percentage for advanced financial literacy among undergraduates. Students from faculty of Commerce and Management and Science have good understanding about financial matters than undergraduates in other two faculties

Keywords: advanced finance, undergraduates, financial literacy, savings

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Authors: Thuduwage Lasanthika Sajeevanie

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Success is very important, and there are many factors affecting the success of any situation or a person. In Sri Lankan Context, it is hardly possible to find an empirical study relating to time management and academic success. Globally many organizations, individuals practice time management to be effective. Hence it is very important to examine the nature of time management practice. Thus this study will fill the existing gap relating to achieving academic success through proper time management practices. The research problem of this study is what is the relationship exist among time management skills and academic success of university lecturers in state universities. The objective of this paper is to identify the impact of time management skills for academic success of university lecturers. This is a conceptual study, and it was done through a literature survey by following purposive sampling technique for the selection of literature. Most of the studies have found that time management is highly related to academic performance. However, most of them have done on the academic performance of the students, and there were very few studies relating to academic performance of the university lecturers. Hence it can be further suggested to conduct a study relating to identifying the relationship between academic performance and time management skills of university lecturers.

Keywords: academic success, performance, time management skills, university lecturers

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Authors: Hossein Nikandam Kermanshah, Babak Samavatian, Akbar Hemmati Sabet, Mohammad Ahmadpanah

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This is a quasi-experimental study that has been conducted in order to compare the effectiveness of social skills training and stress management training on self-esteem and aggression in first grade high school students. Forty-five people were selected from research community and were put randomly in there groups of social skills training, stress management training and control ones. Collecting data tools in this study was devise, self-esteem and AGQ aggression questionnaire. Self-esteem and aggression questionnaires has been conducted as the pre-test and post-test. Social skills training and stress management groups participated in eight 1.5 hour session in a week. But control group did not receive any therapy. For descriptive analysis of data, statistical indicators like mean, standard deviation were used, and in inferential statistics level multi variable covariance analysis have been used. The finding result show that group training social skills and stress management is significantly effective on the self-esteem and aggression, there is a meaningful difference between training social skills and stress management on self-esteem that the preference is with group social skills training, in the difference between group social skills training and stress management on aggression, the preference is with group stress management.

Keywords: social skill training, stress management training, self-esteem aggression, psychological sciences

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Authors: Thapelo Jacob Moloi

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This paper purports to present the findings in relation to the competencies of commercial grain farmers using a classic grounded theory method. A total of about eighteen semi-structured interviews with farmers, former farmers, farm workers, and agriculture experts were conducted. Findings explored competencies in the form of skills, knowledge and personal attributes that commercial grain farmers possess. Skills range from production skills, financial management skill, time management skill, human resource management skill, planning skill to mechanical skill. Knowledge ranges from soil preparation, locality, and technology to weather knowledge. The personal attributes that contribute to shaping a commercial grain farmer are so many, but for this study, seven stood out as a passion, work dedication, self-efficacy, humbleness, intelligence, emotional stability, and patience.

Keywords: grain farming, farming competencies, classic grounded theory, competency model

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Authors: Samba Lamine Cisse, Cheick Oumar Tangara, Seynabou Sissoko, Mahamadou Diakite, Seydou Doumbia

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Background: Financial management of a scientific research center is a crucial element in achieving ambitious scientific goals. It can be a driving force for research success, but it also has shortcomings that are important to understand. This study focuses on the crucial aspects of financial management in the context of scientific research centers, more specifically the USTTB (UCRC) in Mali in terms of strengths and weaknesses. Methodology: This study concerns the case of the UCRC, one of the USTTB's research centers. It is a qualitative study based on years of experience in project management at the USTTB, and on analyses and interpretations of everyday activities. Result: It offers practical recommendations for improving the financial stability of research institutions, thereby contributing to their mission of promoting scientific research and innovation. Scientific research centers play a crucial role in the development of knowledge, and their effective operation largely depends on the appropriate management of their financial resources. It begins with an in-depth analysis of UCRC's typical financial structure, highlighting its types and sources of funding, followed by an analysis of the strengths and weaknesses of its current financial management system. Conclusion: Financial management of a scientific research center is essential to ensure the continuity of research activities, the development of innovative projects and the achievement of scientific objectives. Adaptive financial management focused on efficiency, diversification of funding and risk control. They are essential to meeting these challenges and fostering excellence in scientific research.

Keywords: financial, management, strengths, weaknesses, recommendations

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Authors: Azar Baghtaghi

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Financial risk management is critically important as it enables companies to maintain stability and profitability amidst market fluctuations and unexpected events. It involves the precise identification of risks that could impact investments, assets, and potential revenues. By implementing effective risk management strategies, companies can insure themselves against adverse market changes and prevent potential losses. In today's era, where markets are highly complex and influenced by various factors such as macroeconomic policies, exchange rate fluctuations, and natural disasters, the need for meticulous planning to cope with these uncertainties is more pronounced. Ultimately, financial risk management means being prepared for the future and the ability to sustain business in changing environments. A company capable of managing its risks not only achieves sustainable profitability but also gains the confidence of shareholders, investors, and business partners, enhancing its competitive position in the market. In this article, the types of financial risk and risk management strategies for improving financial performance were investigated. By identifying the risks stated in this article and their evaluation techniques, it is possible to improve the organization's financial performance.

Keywords: strategy, risk, risk management, financial performance.

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Authors: Alina Parincu, Giuseppe Empoli, Alexandru Capatina

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The purpose of this paper is to identify the most influential predictors of emotional intelligence skills, in the case of 20 business innovation coaches, on the co-creation of knowledge through coaching services delivered to innovative start-ups from Europe, funded through Horizon 2020 – SME Instrument. We considered the emotional intelligence skills (self-awareness, self-regulation, motivation, empathy and social skills) as antecedent conditions of the outcome: the quality of coaching services, perceived by the entrepreneurs who received funding within SME instrument, using fuzzy-sets qualitative comparative analysis (fsQCA) approach. The findings reveal that emotional intelligence skills, trained with neuro-management techniques, were associated with increased goal-focused business coaching skills.

Keywords: neuro-management, innovative start-ups, business coaching, fsQCA

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Authors: Chengxuan Geng, Yizhou E

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This paper mainly examines the changes in the relationship between earnings management and audit quality before and after financial crisis in the context of American firms from 2005 to 2010. Based on a sample of 3584 firm year observations, we find that there are changes concerning the relation between accrual-based earnings management and audit quality during the pre-crisis and post-crisis periods. However, the results do not provide enough evidence with regard to the variances in the association between real activities earnings management and audit quality during these two periods.

Keywords: audit quality, earnings management, financial crisis, relationship

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Authors: Ghizlane Barzi, Zineb Bamousse

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In an increasingly volatile global economic context characterized by recurring crises, the financial function of companies is called upon to play a strategic role not only in resource management but also in organizational resilience. The emergence of financial technologies (fintech) offers innovative tools capable of transforming this function by enhancing the efficiency of financial processes and increasing companies' ability to adapt and overcome economic shocks. However, despite the rapid rise of fintechs and their growing adoption by companies, there remain uncertainties regarding the real impact of these innovations on the financial resilience of organizations. Indeed, how do fintech-driven innovations transform the financial function, and to what extent does this transformation contribute to strengthening the financial resilience of companies in the face of contemporary crises? This research aims to explore these questions by examining the interrelationships between the financial function, fintech innovations, and corporate resilience, in order to identify optimization levers that could be adopted for better financial risk management.

Keywords: finance, financial function, fintech, resilience, innovation

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Authors: Miriam Filipová, Peter Balco

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At present, in Slovak and Czech Republic, the education within the field of Project Management is carried out either within the higher education or via commercial entities, whilst the most used contents are the commonly used methodologies of project management. Obtaining a diploma after completing a university degree or a training certificate does not automatically mean the success of the project or the success of the project manager. The importance of leadership and soft skills in project management is either not included at all within the training of project managers, or it is only partially reflected. From the methodology perspective, the most important things during the preparation and management of the projects are preparation of the project plan, resource planning, and project realization in accordance with the chosen methodology. However, the key element on which the success of the project depends on are the people – whether they are team members on the supplier's side, the stakeholders, or the end users. This research focuses on the real needs of working project managers, on the development of their strengths, expertise, skills, and knowledge regarding leadership and soft skills. At the same time, it looks into identifying the elements that they consider to be key to the success of the projects they have managed and successfully delivered. The result of this research is the input for creating recommendations for a comprehensive education of project managers in the field of leadership and soft skills.

Keywords: project management, leadership, soft skills, education, academic degree, certificates, skills, talents, knowledge

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Authors: Giorgi Methodishvili, Iuliia Methodishvili

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In this paper product development algorithm is used to determine the optimal management of financial resources in company. Aspects of financial management considered include put initial investment, examine all possible ways to solve the problem and the optimal rotation length of profit. The software of given problems is based using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: management, software, optimal, greedy algorithm, graph-diagram

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Authors: Joanna Błach, Anna Doś, Maria Gorczyńska, Monika Wieczorek-Kosmala

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Financial innovations can be regarded as the cause and the effect of the evolution of the financial system. Most of financial innovations are created by various financial institutions for their own purposes and needs. However, due to their diversity, financial innovations can be also applied by various business entities (other than financial institutions). This paper focuses on the potential application of financial innovations by non-financial companies. It is assumed that financial innovations may be effectively applied in all fields of corporate financial decisions integrating financial management with the risk management process. Appropriate application of financial innovations may enhance the development of the company and increase its value by improving its financial situation and reducing the level of risk. On the other hand, misused financial innovations may become the source of extra risk for the company threatening its further operation. The main objective of the paper is to identify the major types of financial innovations offered to non-financial companies by the banking system in Poland. It also aims at identifying the main factors determining the creation of financial innovations in the banking system in Poland and indicating future directions of their development. This paper consists of conceptual and empirical part. Conceptual part based on theoretical study is focused on the determinants of the process of financial innovations and their application by the non-financial companies. Theoretical study is followed by the empirical research based on the analysis of the actual offer of the 20 biggest banks operating in Poland with regard to financial innovations offered to SMEs and large corporations. These innovations are classified according to the main functions of the integrated financial management, such as: Financing, investment, working capital management and risk management. Empirical study has proved that the biggest banks operating in the Polish market offer to their business customers many types and classes of financial innovations. This offer appears vast and adequate to the needs and purposes of the Polish non-financial companies. It was observed that financial innovations pertained to financing decisions dominate in the banks’ offer. However, due to high diversification of the offered financial innovations, business customers may effectively apply them in all fields and areas of integrated financial management. It should be underlined, that the banks’ offer is highly dispersed, which may limit the implementation of financial innovations in the corporate finance. It would be also recommended for the banks operating in the Polish market to intensify the education campaign aiming at increasing knowledge about financial innovations among business customers.

Keywords: banking products and services, banking sector in Poland, corporate financial management, financial innovations, theory of innovation

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Authors: Roberto Cerchione, Emilio Esposito, Mario Raffa

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The relevance and the strategic importance of engineering skills in innovation and in the development of businesses and organizations push to investigate the role of the engineer in society today. In the twentieth century the emergence of a variety of technical and scientific knowledge has led to the rise of new areas of skills going from a "all-comprehensive" engineering to an engineering characterized by many specializations. Organizational and structural changes within companies and the emergence of an industrial society based on multiple interrelationships led to the transformation of engineering education. The objective of this work is to report main steps and many pioneering experiences, both national and international, that have led to establish a graduate degree program in Engineering Management and its subsequent evolution in Entrepreneurial Engineering. The first section of this article focuses on the origins and precursors of Engineering Management education. The second section concerns main Italian education programs. Then the attention is focused on the evolution of Engineering Management in Naples, on the intersectoral nature of this degree program, on the relationship with business community, associations, labor market, small businesses and environment. Finally, the discussion of recent years about the skills that characterize entrepreneurial engineer in society are presented.

Keywords: education, engineering management, entrepreunerial engineering, engineering skills, managerial skills, entrepreneurial skills

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Authors: Sana Masmoudi, Yosra Makni

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Regulators highlight the importance of the Audit Committee (AC) as a key internal corporate governance mechanism. One of the most important roles of this committee is to oversee the financial reporting process. The purpose of this paper is to examine the link between the characteristics of an audit committee and the financial reporting quality by investigating whether the formation of audit committees and their characteristics are associated with improved financial reporting quality. This study provides empirical evidence of the association between audit committee independence, financial expertise, gender diversity, and meetings and Real Earnings Management (REM) as a proxy of financial reporting quality. Using data from, with a sample of 80 companies listed on the Amsterdam Stock Exchange during 2010-2017, the study finds that independence and AC Gender diversity are strongly related to financial reporting quality. In fact, these two characteristics constrain REM. The results also suggest that AC-financial expertise reduces to some extent, the likelihood of engaging in REM. These conclusions provide support then to the audit committee requirement under the Dutch Corporate Governance Code rules regarding gender diversity and AC meetings.

Keywords: audit committee, financial expertise, independence, real earnings management

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Authors: Levan Sabauri

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In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.

Keywords: efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital

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Authors: Aparna Viswanath

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Electricity spot prices are highly volatile under optimal generation capacity scenarios due to factors such as non-storability of electricity, peak demand at certain periods, generator outages, fuel uncertainty for renewable energy generators, huge investments and time needed for generation capacity expansion etc. As a result market participants are exposed to price and volume risk, which has led to the development of risk management practices. This paper provides an overview of risk management practices by market participants in electricity markets using financial derivatives.

Keywords: financial derivatives, forward, futures, options, risk management

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Authors: Ibtissam Mharzi Alaoui, Camélia Sehaqui

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The success of a bank depends upon its effective risk management. With the growing complexity and diversity of financial products and services, as well as the accelerating pace of globalization over the past decade, risk management is becoming increasingly difficult. thus, all measurement and monitoring functions must be much more vigorous, relevant and adequate. The Shariah non-compliance risk is specific aspect of Islamic finance which ipso facto, deserves particular attention. It affects the validity of all Islamic financial contracts and it turns out to be likely to result in considerable losses on the overall Islamic financial institutions (IFIs). The purpose of this paper is to review the theoretical literature on Shariah non-compliance risk in order to give a clearer understanding of its sources, causes and consequences. Our intention through this work is to bring added value to the Islamic finance industry all over the world. The findings provide a useful reference work for the Islamic banks in structuring (or restructuring) of their own system of shariah risk management and internal control.

Keywords: Shariah non-compliance, risk management, financial products, Islamic finance.

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Authors: M. Naude, R. Joubert, A. du Plessis, S. Pelser, M. Trollip

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Context: The study focuses on the perceptions of South African parents and teachers regarding a play-based financial literacy program for children aged 3 to 6 years at an early childhood facility. It emphasizes the importance of early interventions in financial education to reduce poverty and inequality. Research Aim: To explore how parental involvement in teaching money management concepts to young children can support financial literacy education both at school and at home. Methodology: A qualitative deductive case study was conducted at a South African early childhood facility involving 90 children, their teachers and their families. Thematic content analysis of online survey responses and focus group discussions with teachers were used to identify patterns and themes related to participants’ perceptions of the financial literacy program. Validity: The study's validity and reproducibility are ensured by the depth and honesty of the data, participant involvement, and the inquirer's objectivity. Reliability aligns with the interpretive paradigm of this study, while transparency in data gathering and analysis enhances its trustworthiness. Credibility is further supported by using two triangulation methods: focus group interviews with teachers and open-ended questionnaires from parents. Findings: Parents reported overall satisfaction with the program and highlighted the development of essential money management skills in their children. They emphasized the collaborative role of home and school environments in fostering financial literacy in early childhood. Teachers reported that communication and interaction with the parents increased and grew. Healthy and positive relationships were established between the teachers and the parents which contributed to the success of the classroom financial literacy program. Theoretical Importance: The study underscores the significance of play-based financial literacy education in early childhood and the critical role of parental involvement in reinforcing money management concepts. It contributes to laying a solid foundation for children's future financial well-being. Data Collection: Data was collected through an online survey administered to parents of children participating in the financial literacy program over a period of 10 weeks. Focus group discussions were utilized with the teachers of each class after the conclusion of the program. Analysis Procedures: Thematic content analysis was applied to the survey responses to identify patterns, themes, and insights related to the participants’ perceptions of the program's effectiveness in teaching money management concepts to young children. Question Addressed: How does parental involvement in teaching money management concepts to young children support financial literacy education in early childhood? Conclusion: The study highlights the positive impact of a play-based financial literacy program for children aged 3 to 6 years and underscores the importance of collaboration between home and school environments in fostering financial literacy skills.

Keywords: early childhood, financial literacy, money management, parent involvement, play-based learning, South Africa

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Authors: Vasiliki A. Tzora, Nikolaos D. Philippas

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The paper measures the financial literacy of youth in Greece derived from the examined aspects of financial knowledge, behaviours, and attitudes that high school students performed. The findings reveal that less than half of participant high school students have an acceptable level of financial literacy. Also, students who are in the top of their class cohort exhibit higher levels of financial literacy. We also find that the father’s education level has a significant effect on financial literacy. Students who keep records of their income and expenses are likely to show better levels of financial literacy than students who do not. Students’ perception/estimation of their parents’ income changes is also related to their levels of financial literacy. We conclude that financial education initiatives should be embedded in schools in order to embrace the young generation.

Keywords: financial literacy, financial knowledge, financial behaviour, financial attitude, financial wellbeing, 15-year-old students

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