| Project Title: | Study on Financial Management Problem in Shandong Engineering Vocational and Technical University |
| Author: | Miss Zhang Chunxia |
| Advisor: | Dr. Zhang Li |
| Degree: | Master of Business Administration |
| Major: | International Business Management |
| Faculty: | Graduate Schools |
| Academic year: | 2022 |
| Url:
Published: |
Conference Conference Proceedings National and International Academic Conference “Empowering Innovtion and Sustainability in the Next Normal” 27 November 2021 |
Citation
Zhang, Chunxia. (2022). Study on the financial management problem in Shandong Engineering Vocational and Technical University. (Master’s independent study). Bangkok: Siam University.
Abstract
This study aimed to investigate the financial management issues faced by private colleges and universities, identify their causes, and propose practical solutions. The research analyzed the current financial management situation and problems at Shandong Engineering Vocational and Technical University using the Wahl proportion method. By combining the fundamental theory with the characteristics of financial management in educational institutions, identifiable problems were found. The study revealed two critical issues in the financial management of private colleges and universities. Firstly, there is inadequate availability of funds to meet the development requirements of these institutions. Moreover, the absence of a comprehensive management system leads to the depletion and misappropriation of funds in specific projects. Secondly, the circulation of off-book funds lacks sufficient supervision and control mechanisms, which can result in their misuse or loss, thus posing a specific financial risk.
To address these issues, the study proposed several practical measures to enhance the financial management level of private colleges and universities. These measures included: 1) Strengthening budget management: This involves establishing a scientific system for budget preparation, implementation, and assessment, as well as implementing a budget disclosure system; 2) Establishing an index system: By creating a logical and reasonable index and assessment system, financial activities can be quantified and compared, leading to improved transparency and effectiveness in financial management; 3) Emphasizing the quality of decision-making: This can be achieved by establishing systematic decision-making processes and systems that ensure the rationality and scientific nature of financial decisions; 4) Implementing the campus card project: This measure involves enhancing supervision and management of off account funds to prevent their misuse and loss.
Through this study, it is evident that private colleges and universities need to enhance their financial management level to meet the demands of teaching, research, other activities, and societal expectations. The proposed measures not only facilitate improved financial management but also contribute to serving society and the public more effectively.
Keywords: private university, financial management, higher education, budget management, decision quality.
Study on Financial Management Problem in Shandong Engineering Vocational and Technical University
Master of Business Administration (International Program), Siam University, Bangkok, Thailand