Accounting and Finance

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Welcome to the Accounting and Finance Community at the School of Business, Mzumbe University (SoB MUIR)! Our Institutional Repository is a central hub for academic excellence, featuring a wide range of research, theses,dissertations, and contributions from our faculty and students. We focus on the latest in financial management, accounting, and economic trends, encouraging researchers, students, and professionals to explore our work. Our community is dedicated to advancing knowledge, fostering innovation, and highlighting our achievements in accounting and finance. Join us as we contribute to the evolving field of financial education and research.

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Now showing 1 - 6 of 6
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    The effect of financial management systems on local government performance: The case of Namtumbo District council
    (Mzumbe University, 2013) Ndunguru, Nicholaus S.
    The financial management in the Local government can be improved by the development of an integral accrual accounting system to enable the preparation of accrual-based budgets, financial statements and performance reports to meet the needs of the various stakeholders. Traditionally the management of government expenditures has been focused on a system of expenditure control, which is based to ensure that budgetary authority granted by the legislature is not exceeded. The cash basis of accounting does not measure the resources consumed during the period under review, thus the true costs of government programmes and projects are not correctly measured, controlled or reported. In the absence of accurate cost information, performance measures of efficiency and cost-effectiveness cannot readily be determined. The establishment of International Public Sector Accounting Standards (IPSAS), these standards introduce the accrual basis of accounting and is a significant step towards transparent and accountable information. The study was specifically designed to achieve the following specific objectives:- i) To determine whether a budget system links with strategic outcomes ii) To determine whether a performance reporting framework is on cash basis or accruals basis? iii) To determine whether there is a sound internal control system in the council iv) Determine whether the internal Audit functions properly and does its work independently. Key findings of the study The financially successful and efficient Local Government is headed by competent management and makes use of effective budgetary control. Effective budgetary control is based on operating budgets that are closely linked with long-term strategic plans and desired outcomes. The operating budgets are then compared with actual results, on an accruals basis, in order to measure performance and efficiency. It is clear from the above that three basics exist for financial management performance measurement, namely: (i) committed and competent head of department; (ii) outcomes-based budgeting; and (iii) Accruals-based reporting. A Financial performance measurement framework that uses the balanced scorecard as a base are developed for Local governments and incorporates (i) the implementation of an outcomes-based budget; (ii) the use of an accruals-based cost/revenue allocation to measure the costs of the various outputs; and (iii) a performance statement. Committed and competent head of department is the first condition for financial performance measurement. The responsibilities and training needs of the Executive Authority and Head of department are clearly defined and the training needs of Local government officials are highlighted. Outcomes-based budgeting is the second condition for financial performance measurement. The Management in Local governments should take cognizance of the shortcomings of the current budgeting process and consider the implementation of activity-based budgeting. Reporting on an accruals basis is the third condition for financial performance reporting. Internal reporting in Local government departments should be revitalized and the activity-based costing should be implemented to facilitate accruals-based cost allocations to all the various activities and processes that are required for each output. Finally, the study recommends an audit committee and finance committee should basically discuss various issues concerned with council financial performance and financial statements of Local government departments.
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    Effectiveness of public accounts committee (PAC) on enhancing accountability and transparency in public sector organizations (PSOS) in Zanzibar
    (Mzumbe University, 2015) Sharif, Khadija Bakar
    This study was conducted in order to assess the effectiveness of public accounts committee (PAC) On enhancing accountability and transparency in public sector organizations (PSOS) in Zanzibar on enhancing accountability and transparency In public sector organizations (PSOS) in Zanzibar on enhancing accountability and transparency in public sector organizations (PSOs) in Zanzibar. Specifically, the study was set in order to meet five objectives, namely; to understand how PAC promotes accountability and transparency in public sector organizations, to understand extent to which PAC promote accountability and transparency in public sector organizations, to examine the relationship between PAC and CAG in promoting accountability and transparency in public sectors, to ascertain whether reports, recommendations, and directives of PAC have an influence in improving accountability and transparency of the ministries, departments and other public institutions, and to identify challenges that PAC face in promoting accountability and transparency in public sectors. The study was conducted in Zanzibar using multiple embedded case study design where three units of study were involved. Data were gathered using questionnaires for accountants and auditors (internal and external), interviews for senior officials (including member of PAC) and documentary review. Data were analyzed using qualitative method. The study found out that there is little contribution of PAC in ensuring accountability and transparency in public sector, due to the fact that Government auditors have not fully covered the audit mandate, there is delay in submission of Annual Audit report for accountability of budget cycle, Public Account Committee faces some challenges on exercising their duties which include lack of skills that can cover all aspects ranging from information technology, financial management and public administration; also operate within a limited budget, which hinders on their oversight work, increases workload and backlogs and the power of PAC in Zanzibar is limited to making recommendations to the House of Representative, on the other hand the study has also found out that PAC increase public awareness and transparency by publish in its report to the public and maintain cardinal relationship with auditor General and their recommendation increase responsiveness of audit queries.
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    Effectiveness of government audit in ensuring accountability of clients in Zanzibar
    (Mzumbe University, 2014) Kassim, Rashid Mohamed
    The purpose of the study was assessed the effectiveness of government audit to ensure accountability of the clients in Zanzibar. The study was focused on assessing the contribution of government audit in managing public resources are responsibly and effectively, assessing the oversight functions of government entities, examining the role of Government audit in minimizing the chances of misuse and mismanage public resource and assess the reliability to the financial statement opinion provided by the government auditors to the intended users. This study adopted the multi embedded case study design and employed qualitative and descriptive statistics. A population of 121 was selected from External and Internal Auditors, Accountants, Director of Audit and Senior Officers from Ministry of Finance and House of Representatives using stratified simple random sampling. The study found that there is little contribution of government audit in managing public resources are responsibly and effectively to achieve the intended result, the due to fact that Government auditors have not fully covered the audit mandate, often some of the government auditors are not abide with the code of ethics, Public Account Committee faces some challenges on exercising their duties which include lack of skills that can cover all aspects ranging from information technology, financial management and public administration, also operate within a limited budget, increases workload and backlogs and the power of PAC in Zanzibar is limited to making recommendations to the House of Representative, most common type of audit approach is vouching audit and there is lack of autonomy in term of finance and employee, under the reliability of financial statement opinion the study showed that some of the audit staffs have no familiar with application of standards and improper planning during the audit work. The study recommends that various strategies that can be employed to address the above challenges. Such strategies include; repeals of the Establishment of Office of the Controller and Auditor General Act number 11 of 2003, revised some of the provision of the Constitution of Zanzibar of 1984 and continuous capacitate of government auditors and PAC through training on the auditing matters.
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    Financial management practices: Inefficiencies for self sustainable on donor funded water projects the case study of Global Water Initiatives Program phase I
    (Mzumbe University, 2013) Mapunda, Keneth Njako
    Financial management practices is the key role for self-sustainability on donor funded water projects, and in Tanzania is the factor which undermine efforts for sustainability. Ability to pay to meet cost is the key essential issue in assuring sustainability. The main objective of the study is to assess the financial management practices specifically the inefficiencies in donor funded water projects to support self sustainable, which eventually will help water entities to achieve sustainability To archive expectation, case study approach was used as means of study. GWI phase one implementation area used as a focal point. Interviews and questioner were used to collect primary data, while secondary data were collected by reviewing butch of documents used in implementation as mean of validating of primary data. SPSS software was used to analyse data which helps to present in form of table and figures which are easy to understand. Issues such as integration between financial planning / monitoring and organization strategies, preparation and sharing of financial information, level of streamlining revenue and source of income were among of financial management related indicators which ware scrutinized. Among of major findings, evidence shows that 65% of executives do not produce financial report decision are based on knowledge and not on reports presented. Revenue collection was weak by 74.7%, slightly improved by the kind of technology deployed where deep well scheme is contributing positive by 65%. The report emphasises the need for pricing based on achieving full cost recovery. To share findings exhausted from this research the most policy implication advice is to look water problem from financial management best practice perspective. Let’s make people accountable on their act or omission which causes non functionality of the water sector, people mast pay based on the value of water. Currently water is not as free gift from god. Also, let’s make people understand water entities the same as other business which are driven by surplus.
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    Influence of working capital management in organization performance: A case study of Zanzibar Social Security Fund (ZSSF)
    (Mzumbe University, 2013) Hamad, Akida
    Working capital management has lately been a hot topic since the financial crisis of the late 2000’C, Companies search for liquidity and operational efficiency through minimizing their investment in working capital. How can influence of working capital management affect organization performance? This has been studies in this thesis. Specifically, the study was set in order to meet three objectives, namely; to analyze trend of Net Working capital at Zanzibar Social Security Fund, to assess the efficient of Net Working capital at ZSSF and to examine the contribution of net working capital to organization performance at ZSSF. To achieve these objectives, the study used a sample of 50 respondents who were randomly selected. Data collected by use of questionnaires, interviews, observation and documentary reviews were computed and analyzed by using SPSS computer software and Excel program. Tables and figures were used to helps the presentation of the findings. The efficient of working capital management can be determined by the working capital components such as cash, account receivables, account payables, inventories and other receivables. By testing five independent variables with organization performance by reducing cash, inventory and efficiency management of other components. The main findings indicate that ZSSF consider working capital management an important issue, yet some challenges appeared on efficiency on the payment of monthly pensionable amount to its pensioners. It is evident that the respondents placed greater emphasis or importance on the analysis of trend of net working capital, assessing the efficient of net working capital and contribution of net working capital to organization performance. Some effort is made to manage cash, accounts receivable, inventory and accounts payable and other receivables independently of each other, however given the theory of working capital management; there may be room for improvement regarding the strategies, tactics and techniques used to manage these components. Furthermore, the findings suggest that working capital management is also strategic as it impacts on the liquidity, solvency/bankruptcy, efficiency, profitability and shareholder wealth maximization of the business. In light of the findings, it was recommended that ZSSF should improve the process of payments to its members and should ensure that benefits are paid timely and to the right person. Also, the comparative study of the research should be conducted in order to assess the influence of working capital management on the performance of various pension funds operated in Tanzania. As part of this study a further area for research should be empirical investigations into the impact of working capital on company performance specifically in the service sector industry, and here the case study approach could be considered.
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    Financial management practices: Inefficiencies for self sustainable on donor funded water projects the case study of global water initiatives program phase I
    (Mzumbe University, 2013) Mapunda, Keneth Njako
    Financial management practices is the key role for self sustainability on donor funded water projects, and in Tanzania is the factor which undermine efforts for sustainability. Ability to pay to meet cost is the key essential issue in assuring sustainability. The main objective of the study is to assess the financial management practices specifically the inefficiencies in donor funded water projects to support self sustainable, which eventually will help water entities to achieve sustainability To archive expectation, case study approach was used as means of study. GWI phase one implementation area used as a focal point. Interviews and questioner were used to collect primary data, while secondary data were collected by reviewing butch of documents used in implementation as mean of validating of primary data. SPSS software was used to analyse data which helps to present in form of table and figures which are easy to understand. Issues such as integration between financial planning / monitoring and organization strategies, preparation and sharing of financial information, level of streamlining revenue and source of income were among of financial management related indicators which ware scrutinized. Among of major findings, evidence shows that 65% of executives do not produce financial report decision are based on knowledge and not on reports presented. Revenue collection was weak by 74.7%, slightly improved by the kind of technology deployed where deep well scheme is contributing positive by 65%. The report emphasises the need for pricing based on achieving full cost recovery. To share findings exhausted from this research the most policy implication advice is to look water problem from financial management best practice perspective. Let’s make people accountable on their act or omission which causes non functionality of the water sector, people mast pay based on the value of water. Currently water is not as free gift from god. Also let’s make people understand water entities the same as other business which are driven by surplus.