Over the last few years, Financial Management has published a significant number of articles that analyze patterns in returns. Practice of public financial management and transparency/accountability: The findings revealed that the practice of public management in local government administration enhances transparency and accountability in the use of public financial resources of Bayelsa state.
In this framework, the tools that management can employ range from ex ante expenditure controls to compliancy checks, inventory controls, record keeping, reporting, and monitoring (see figure 6.1).However, a contemporary internal control framework is more than a set of traditional financial and compliance controls.
Fundamentally, this chapter covers the introductory part that provides the background of the study for better understanding of local government financial management. In reality, public financial management in Nigeria as one of the developing countries in the World has been facing serious problem with regards to provisions of sustainable development in nationwide, most especially in the local government areas.
Clearly, it is time to recognise that considerations of the different sides of the question as to what reform methods to adopt or whether Public Finance Management is, or should be, driven principally by the disbursement conditionalities set by donors; or arrived at through much wider debate and careful consideration by the citizenry and leadership of developing countries might lead to quite different conclusions.
They enable management to deal with rapidly changing economic and competitive environments, shifting demands and priorities, and restructuring for future growth. Aimed at helping to maximize the finance function’s performance and increase its value to the business, our teams provide a range of services to help organizations to become leaders in finance. Hence, making attempt to find answers to the following questions will help to clarify the relationship between public financial management and rural sustainable development. Please note that in addition to helping you succeed in the MBA program and your career, the Business Case Analysis course (BUSI 5106) will be required for any student wishing to participate in case competitions. With weak Public Finance Management systems, even where policy makers come up with sound policy, it may not be possible to implement such policy effectively. The finance manager must plan the capital structure in such a way that the cost of capital it minimised.