DATA QUALITY IN FINANCIAL PLANNING - AN EMPIRICAL ASSESSMENT BASED ON BENFORD\u27S LAW

Planning Processes play an important role in almost any business scenario. In particular, induced by the financial crisis, financial planning as a foundation for liquidity management is paid extraordinary attention to. Its quality and reliability is usually ensured by the use of information systems. Besides process efficiency, a key factor in liquidity management is the quality of the delivered planning data. More recently, business intelligence measures to increase data quality, for instance, realized through decision support services, find their way into the planning process. In this paper, we lay the foundation to include digital analyses of reported financial planning numbers into automated decision support services. In this vein, our contribution is twofold: First, based on a large and representative data set from a renowned, multinational enterprise, we empirically prove that financial planning numbers exhibit a certain, characteristic digit distribution, namely, Benford\u27s Law. Second, we investigate whether decision support services that incorporate intelligence based on Benford\u27s Law are appropriate to increase financial planning data quality. This question is tackled via analyses that relate detailed properties of the delivered data to Benford\u27s Law as a prerequisite for the integration of automated decision support services into business intelligence systems

A Financial Planning Decision Support System For Small Medium Enterprise

This project is aimed at developing a low cost and end user oriented financial planning decision support system (DSS) for small medium enterprise (SME) in Malaysia. Low cost and user friendly DSS is essential to assist the SME decision makers in their future financial planning as the available financial planning software are too expensive and not compatible for the SME in Malaysia. An integration of Microsoft Excel 2000 and Microsoft Visual Basic 6.0 had been used to develop this system. The financial models had been developed using Microsoft Excel 2000 (spreadsheet based) and the user interfaces had been developed using Microsoft Visual Basic 6.0. Upon the system prototyping process, the system had been tested in an academic environment (Universiti Utara Malaysia). Further works such as extending the system to a full functional system and a group decision support system (GDSS) could be done to improve the functionality and feature of the system

Portfolio Sensitivity Model for Analyzing Credit Risk Caused by Structural and Macroeconomic Changes

This paper proposes a new model for portfolio sensitivity analysis. The model is suitable for decision support in financial institutions, specifically for portfolio planning and portfolio management. The basic advantage of the model is the ability to create simulations for credit risk predictions in cases when we virtually change portfolio structure and/or macroeconomic factors. The model takes a holistic approach to portfolio management consolidating all organizational segments in the process such as marketing, retail and risk.portfolio analysis, credit risk, weighting, scoring, data mining, sensitivity analyses, decision support, Bayesian networks, BASEL II

TECHNOLOGICAL ASPECTS OF ACCOUNTING AUTOMATION SYSTEM AS A DECISION SUPPORT SYSTEM

Nowadays all businesses need access to an extensive pool of information. Reporting, financial and accounting analysis, financial planning and budgeting are key factors for market-oriented corporate management and successful business. In the digital economy, strong competition, responsible entrepreneurship and corporate social responsibility the business feels a need for revolution and new decision sciences for complex systems that collect big data, analyze it and create reports that can be used by managers for decision-making. The present study aims to prove that the accounting automation system is an important tool for managing the economic activity of companies, because it mediates the interrelationships between managers/decision-makers, or subjects of management, economic activity and its results, or object of management, in support of Business intelligence, or BI, Data and Analysis, Power Platform, etc. The following research tasks have to be settled for reaching the above-mentioned goal: 1. to analyze the components of decision support systems; 2. to research the types of decision support systems; 3. to demonstrate the impact of the accounting automation system as a decision support system on the optimization and improvement of the working processes and making adequate timely management decisions; 4. to analyze the technological aspects of accounting automation system as a decision support system; 5. to research the challenges and solutions regarding ERP systems and SAP. In the course of the study shall be justified the thesis that the successful business is based on true, accurate and reliable information which is mostly generated by automated accounting system as a decision support system and contemporary information technologies. The results of the research are expressed in establishing the way to ensure and guarantee the unification, acceleration and optimization of the input-processing-output process, analysis, financial modelling, financial planning, etc. about decision support and respectively wealth management.

PERENCANAAN DAN PENGEMBANGAN SISTEM INFORMASI SEKTOR PUBLIK BERBASIS KOMPUTER

Accounting information systems provide information for both internal and external users. Public sectors adopted internal control procedures in accounting systems to ensure accurate and reliabilty of financial report. One of internal. control components is information that is tools for decision making. Nowadays, information technology facilitates internal control procedures. Both information and information technology support sector public activities more easily, more reliable and more accurate. This article provides explanation about how to use information system in public sector with information technology support. Furthermore, the explanation will be focused on planning and developing information ' systems in public sector based on computer system

About the Multi Criteria Ranging Problem in the Fuzzy Environment

Decision making and technical decision analysis demand computer-aided techniques and therefore more and more support by formal techniques. In recent years fuzzy decision analysis and related techniques gained importance as an efficient method for planning and optimization applications in fields like production planning, financial and economical modeling and forecasting or classification. It is also known, that the hierarchical modeling of the situation is one of the most popular modeling method. It is shown, how to use the fuzzy hierarchical model in complex with other methods of Multiple Criteria Decision Making. We propose a novel approach to overcome the inherent limitations of Hierarchical Methods by exploiting multiple criteria decision making

Examining the business venture success of restaurants: the role of innovation capability as a mediator

This research examines successful entrepreneurial practices of small and medium restaurants in Malaysia, which includes aspects of start-up planning, financial support, networking, family support, and government support. It also investigates the mediating role of innovation capability on successful entrepreneurial practices. Purposive sampling technique was used to collect data from 390 restaurant business owners through a mailed structured questionnaire. Structural equation modeling involving SmartPLS 3.0 and SPSS 20 software were used to analyse the data and to test the hypotheses. It shows that only start-up planning, networking and innovation capacity were supported, whereas financial support, family support and government support were not supported. Results revealed that innovation capability is a significant intervening variable on the relationship between start-up planning and business venture success, as well as the relationship between networking and business venture success. The study provides practical implications to restaurant owners to actively evaluate the existing resources for better decision making

Pengaruh Faktor Demografi dan Literasi keuangan dengan Behavior Finance dalam Pengambilan Keputusan Investasi

The investment decision-making process is influenced by various factors, including financial literacy and demographic factors. This research examines the impact of demographic factors and financial literacy with behavioral finance as a mediation on investment decision making.  This research using structural equation model (SEM) analysis. The result shows that demographic factors through gender, age, education, income, occupation and experience have an influence and cause a specific behavior in investment decision making. Then the financial literacy factor has an influence in reducing negative behavior. Likewise, demographic factors and financial literacy with behavioral finance as a mediation on investment decisions have a positive influence. The existence of behavior that is manages with planning, financial literacy support, and demographic factors owned by individual investors will create an opportunity for market momentum. Which help maximize profit, better investment and portfolio performance, avoid risks, better investment decision, and forming trading strategies

Population projections: a tool for a (re)definition of the Portuguese higher education system

Population projections can be used as a tool to provide information on possible scenariosvof future population and, namely, to support decision-making processes in diverse socio-economic areas, such as, higher education institutional network planning, both in public and private sectors. In a country like Portugal, nowadays affected by a severe economical and financial crisis, with a young population characterized by low levels of education and qualification is fundamental to use population projections as a basis for higher education planning. The main goal of this paper is to evaluate the possible changes in the younger population size in the coming years as a tool to (re)think and (re)design geographically the higher education institutional network in Portugal. Our findings will provide a range of reliable forecasts to support a more rational political decision contributing to an efficient and effective planning in what concerns higher education requirements adjusted to the evolution of future population

Operational indicators for public transport companies

The Operational Indicators Board is a top level oriented module for mass transportcompanies. The proposal is to collect and to show the planning and control information tosupport the decision making process. In this extended abstract the authors describe theindicators identification process and discuss the main ideas for the module functionality.The authors acknowledge the financial support given by Agência de Inovação to theEUROBUS project in which the work here described is included