This power point slides may help you to find out he Causes of euro zone crisis, its Impact on the public opinion concerning the single currency and the need for economic reforms, the opportunity to learn from the economic crisis, price of oil as a threat to the European recuperation project& what would be the
a solution of the crisis. Thank you
A Financial Crisis can be explained as a condition in which the value of financial institutions and financial assets suddenly experiences a drastic drop. This condition is associated with run on financial institutions, where the investors start to withdraw their deposits from them or sell off the financial assets they hold with the panic of drop in their values. Copy the link given below and paste it in new browser window to get more information on XML:- http://www.transtutors.com/homework-help/computer-science/xml.aspx
This power point slides may help you to find out he Causes of euro zone crisis, its Impact on the public opinion concerning the single currency and the need for economic reforms, the opportunity to learn from the economic crisis, price of oil as a threat to the European recuperation project& what would be the
a solution of the crisis. Thank you
A Financial Crisis can be explained as a condition in which the value of financial institutions and financial assets suddenly experiences a drastic drop. This condition is associated with run on financial institutions, where the investors start to withdraw their deposits from them or sell off the financial assets they hold with the panic of drop in their values. Copy the link given below and paste it in new browser window to get more information on XML:- http://www.transtutors.com/homework-help/computer-science/xml.aspx
This is a recording of a revision webinar exploring some of the causes of financial crises in developed and emerging market countries. There are many different types of crises ranging from currency/external debt crises to disturbances in banking systems.
A financial crisis is defined as any situation where one or more significant financial assets such as stocks, real estate, or deposits (and usually unexpectedly) loses a substantial amount of their nominal value.
Ex: financial market crashes, Increase Borrowing by banks and investors
This presentation considers the possibility of a second recession in the face of the ongoing European Debt Crisis, misguided attempts to address the crisis through austerity and struggling world economies. It also reflects on the impact of the probable break-up of EU’s currency union, measures to avert the scenario and vulnerable positions of the economies of the USA, China and India to more trouble in the Euro-zone.
The doomsday scenario has been summarized by Martin Wolf of Financial Times (May 17, 2012):
“The mechanisms at work would be powerful: bank runs; the imposition of (illegal) exchange controls; legal uncertainties; asset price collapses; unpredictable shifts in balance sheets; freezing of the financial system; disruption of central banking; collapse in spending and trade; and enormous shifts in the exchange rates of new currencies.
.
Financial Sector Strategies for Public Financial Managersicgfmconference
Debra C. von Koch, Associate Director for Government Debt Issuance and Management,
Office of Technical Assistance, United States Department of the Treasury
“Financial Sector Strategies for Public Financial Managers”
The presenters will discuss strategies and tactics that can be utilized in responding to
current financial sector and debt market challenges.
The Role of Banks in the Propagation of External Shocks to African Economiespaperpublications3
Abstract: The paper examines the role played by banks in the propagation of external shocks to African economies. We employ a general equilibrium model of a small open economy to analyse how the banking sector propagates external shocks. The study uses a vector autoregression (VAR) analysis to assess the impact of exchange rate and foreign interest rate shocks on bank lending spreads and output fluctuations in African economies. We use quarterly time-series data for 5 selected African countries for the period 1990-2011. The findings show that foreign interest rate and exchange rate shocks significantly affect output fluctuations in Africa. The results, however, indicate that banks play limited role in the propagation of shocks to African economies.
This is a recording of a revision webinar exploring some of the causes of financial crises in developed and emerging market countries. There are many different types of crises ranging from currency/external debt crises to disturbances in banking systems.
A financial crisis is defined as any situation where one or more significant financial assets such as stocks, real estate, or deposits (and usually unexpectedly) loses a substantial amount of their nominal value.
Ex: financial market crashes, Increase Borrowing by banks and investors
This presentation considers the possibility of a second recession in the face of the ongoing European Debt Crisis, misguided attempts to address the crisis through austerity and struggling world economies. It also reflects on the impact of the probable break-up of EU’s currency union, measures to avert the scenario and vulnerable positions of the economies of the USA, China and India to more trouble in the Euro-zone.
The doomsday scenario has been summarized by Martin Wolf of Financial Times (May 17, 2012):
“The mechanisms at work would be powerful: bank runs; the imposition of (illegal) exchange controls; legal uncertainties; asset price collapses; unpredictable shifts in balance sheets; freezing of the financial system; disruption of central banking; collapse in spending and trade; and enormous shifts in the exchange rates of new currencies.
.
Financial Sector Strategies for Public Financial Managersicgfmconference
Debra C. von Koch, Associate Director for Government Debt Issuance and Management,
Office of Technical Assistance, United States Department of the Treasury
“Financial Sector Strategies for Public Financial Managers”
The presenters will discuss strategies and tactics that can be utilized in responding to
current financial sector and debt market challenges.
The Role of Banks in the Propagation of External Shocks to African Economiespaperpublications3
Abstract: The paper examines the role played by banks in the propagation of external shocks to African economies. We employ a general equilibrium model of a small open economy to analyse how the banking sector propagates external shocks. The study uses a vector autoregression (VAR) analysis to assess the impact of exchange rate and foreign interest rate shocks on bank lending spreads and output fluctuations in African economies. We use quarterly time-series data for 5 selected African countries for the period 1990-2011. The findings show that foreign interest rate and exchange rate shocks significantly affect output fluctuations in Africa. The results, however, indicate that banks play limited role in the propagation of shocks to African economies.
Study on the economic outlook for Bulgaria. Topics cover: growth scenarios for 2009-2010, the immediate challenges faced by the new government, and how Bulgaria (and Central and Eastern Europe in general) will have to reinvent its growth model after the recovery.
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Swedbank Analysis: Competitiveness adjustment in LatviaSwedbank
Swedbank was founded in 1820, as Sweden’s first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Despite significant economic reforms in many Southern Mediterranean EU neighbour countries, their growth performance has on average been subdued. This study analyses the differences in growth performance and macroeconomic stability across Mediterranean countries, to draw lessons for the future. The main findings are that Southern Mediterranean countries should benefit from closer ties with the EU that result in higher levels of trade and FDI inflows, once the turbulence of the ‘Arab Spring’ is resolved, and from the development of financial markets and infrastructure. They will also benefit in keeping inflation under control, which will depend in great part on their ability to maintain fiscal discipline and sustainable current accounts. One of the main challenges for the region will be to implement structural reforms that can help them absorb a large pool of unemployed without creating upward risks to inflation.
Authored by: Leonor Coutinho
Published in 2012
European Journal of Business and Management .docxSANSKAR20
European Journal of Business and Management www.iiste.org
ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online)
Vol.5, No.8, 2013
1
An Empirical Analysis of the Liquidity, Solvency and Financial
Health of Small and Medium Sized Enterprises in Kisii Municipality,
Kenya
Nyabwanga, Robert Nyamao*
1
Dr. Ojera, Patrick
1
(PhD), Otieno Simeyo
2
and Nyakundi Finlay Nyanyuki
3
1. School of Business and Economics, Maseno University P.O. Box 333 Maseno, Kenya.
2. School of Business and Economics, Jaramogi Oginga Odinga University P.O. Box 210 - 40601 Bondo, Kenya.
3. Faculty of Commerce, Kisii University College. P.o.Box, 408-40200, Kisii. Kenya.
*E-mail of the corresponding author: [email protected]
Abstract
Research findings have shown that the liquidity, profitability and solvency position of most Small and Medium
Eenterprises (SMEs) are in average position with the causal factors behind this position being unsound financial
management, inadequate working capital, slow conversion of receivables and inventory into cash, lower position of
sales and higher amount of debt. Therefore, the purpose of this paper was to carry out a Financial diagnosis of the
SMEs financial performance by focusing on their liquidity, solvency and profitability positions using ratio analysis.
Data for the study covered the period 2009-2011 and was obtained from the financial statements of three SMEs
which were purposively sampled from the SMEs operating in Kisii Municipality. The sampled SMEs were those
which had financial statements for the years under consideration. Data collected through the analysis of key ratios
were analyzed using the mean, standard deviation, coeffifient of variation, Student-t test and through the use of the
Altman’s Z-score model. The findings of the study showed that the liquidity position of the SMEs was on average
low; their solvency was low and their financial Health was on average not good. Further,the results show that there
is a significant impact of current ratio, quick ratio and Debt to Total Assets ratio on Return on Assets (ROA). The
results of the study demonstrate that the liquidity position of the SMEs was well below the acceptable global norm
of 2 for current ratio and 1 for quick ratio. Further, the results indicated that the financial health of the SMEs needed to
be improved hence the recommendation that SMEs make liquidity, solvency management and financial stability an
integral driver of their policy frameworks.
Key words: Liquidity, Solvency and Financial Health
1. Introduction
The essential part in management of working capital lies in maintaining liquidity in day-to-day operations is to
ensure smooth running of the business and that it meets its obligations (Deloof, 2003). Liquidity management, which
refers to management of current assets and liabilities, plays an important role in the successful management of a
busin ...
Die Mediadaten 2023. Erstmals im Angebot: Stand-Alone Newsletter für unseren deutsch- oder englischsprachigen Verteiler (7.500/6.000 Empfänger) im Bereich Controlling und Unternehmenssteuerung.
Die Übersicht zeigt, welche Inhalte und Angebote Sie von einer Mitgliedschaft im ICV Internationaler Controller Verein erwarten dürfen - im direkten Abgleich persönliche Mitgliedschaft und Firmenmitgliedschaft.
BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. BTW UK Visa Application Process, Uk Visa complete guide, Uk Visa fees, requirements and application process. Know all about uk visa and best way to apply for the uk visa. Get to know about the requirements that allows you for the faster visa appliaction. Get information in this PDF and simplyfy your visa process.
Assessing the Influence of Transportation on the Tourism Industry in Nigeriagsochially
This research dissertation investigates the complex interplay between transportation and the tourism industry in Nigeria, aiming to unravel critical insights that contribute to the enhancement of the overall tourist experience. The study employs a multi-faceted approach, literature review establishes a robust theoretical framework, incorporating The Service Quality and Satisfaction Theory to guide the research questions and hypotheses.
The methodology involves the distribution of a structured questionnaire, ensuring a representative sample and facilitating a comprehensive analysis of the gathered data.
Key findings include the nuanced perceptions of transportation infrastructure adequacy, safety and security concerns, financial influences on travel decisions, and the cultural and ecological impacts of transportation choices. These findings culminate in a comprehensive set of recommendations for policymakers and practitioners in the Nigerian tourism industry. The findings contribute to the existing literature by providing actionable insights for policymakers, stakeholders, and researchers in the Nigerian tourism sector.
The recommendations encompass gender-sensitive planning, infrastructure enhancements, safety measures, and strategic interventions to address financial constraints, ensuring a holistic and sustainable development of the tourism industry in Nigeria.
Author: Imafidon Osademwingie Martins
The Power of a Glamping Go-To-Market Accelerator Plan.pptxRezStream
Unlock the secrets to success with our comprehensive 8-Step Glamping Accelerator Go-To-Market Plan! Watch our FREE webinar, where you'll receive expert guidance and invaluable insights on every aspect of launching and growing your glamping business.
Wayanad-The-Touristry-Heaven to the tour.pptxcosmo-soil
Wayanad, nestled in Kerala's Western Ghats, is a lush paradise renowned for its scenic landscapes, rich biodiversity, and cultural heritage. From trekking Chembra Peak to exploring ancient Edakkal Caves, Wayanad offers thrilling adventures and serene experiences. Its vibrant economy, driven by agriculture and tourism, highlights a harmonious blend of nature, tradition, and modernity.
Hidden Gems of Europe - DISCOVERING THE CONTINENT'S BEST-KEPT SECRETSKamil Uğraş TÜRKOĞLU
Europe, continent rich in history, culture, and natural beauty, is often synonymous with famous cities like Paris, Rome, and London. These iconic destinations attract millions of tourists every year, captivating them with their renowned landmarks, vibrant culture, and bustling urban life. However, beyond these well-trodden paths lie countless hidden gems waiting to be discovered. These lesser-known destinations offer unique experiences, authentic encounters, and breathtaking landscapes that often surpass the allure of their famous counterparts.
In "Hidden Gems of Europe," we embark on a journey to uncover these secret spots, exploring the heart and soul of Europe through its quaint villages, charming towns, and secluded natural wonders. This book aims to inspire travelers to look beyond the obvious and venture into the lesser-explored corners of the continent, where true adventure and discovery await.
How To Talk To a Live Person at American Airlinesflyn goo
This page by FlynGoo can become your ultimate guide to connecting with a live person at American Airlines. Have you ever felt lost in the automated maze of customer service menus? FlynGoo is here to rescue you from endless phone trees and automated responses. With just a click or a call to a specific number, we ensure you get the human touch you deserve. No more frustration, no more waiting on hold - we simplify the process, making your travel experience smoother and more enjoyable.
1. Controlling in a downturn –
the case of Estonia
Estonia
The situation in the Estonian and world economy has a big impact on the
economic situation of the companies and therefore also on the undertakings
of the management and the controlling.
The Bank of Estonia described the situation in their investments, like the real-estate and construction
economic policy statement as follows: industries, are also now struggling to survive. Loo-
• The economic downturn will average 12.3% this king at the “negative” numbers more deeply, the
year, with first positive signs of an end to the so-called crisis is nothing more than a correction of
recession the overheating in the economy. Hard but healthy.
• The main indicators of the Estonian macro The tax system on the one hand, which allows the
economy have continued their fast movement companies to focus on the real business and not
towards a positive balance in recent months supporting report creativity, and on the other hand
• Estonia’s credit market volume is mostly shaped managers who are more in the business than hun-
by the reduced consumption and investment ting shareholders and financing, are the main
intentions of enterprises and households aspects of the Estonian business model and were
• The risks to the Estonian financial system stability the fundament of the Estonian success and develop-
have not eased against the backdrop of ment in the recent years.
uncertain economic and financial conditions in
the world Controlling in Estonian companies is focused on the
• The banks operating in Estonia have enough business, to figure out how to increase turnover,
Harald Kitzmann, Chair of capital to cover possible loan losses induced by how to reduce costs, which activities could be
Operations Management, the difficult economic environment, should the changed or adjusted that the companies are com-
Tallinn University of Technol-
loan portfolio quality deteriorate further ing stay on track and coming back on track. With
ogy; Leader, ICV working
group Estonia • The main preconditions for a rapid recovery of this focus, Estonian controlling is different from the
steady economic growth are the clear perspec- classical German controlling approach, which is
tives of joining the Euro zone in the near future more focused on the collecting of numbers and re-
and restoring fiscal balance and surpluses in the porting of the situation. The objective of optimizing
years ahead. With the inflation rate declining, the annual report to prevent and reduce outflow of
Estonia has a good chance of meeting the liquidity in the form of taxes and dividends is one
Maastricht criteria at the end of 2009. of the main focuses of German controlling. The
• The extensive inflow of cheap loan capital in same objective could found in the reporting to the
recent years caused the overheating of the eco- banks and other financial providers.
nomy and enlarged external imbalances. This It is difficult to find any common objectives and fo-
trend has now turned and the vulnerability of cuses between German and Estonian controlling,
Estonia’s economy is diminishing owing to wea- especially in the present downturn. These differ-
ker domestic demand. The external environment ences need different bases in skills and knowledge
will not enhance export revenues though, at least which are hard to generalizes. It is therefore difficult
not for the time being. However, in the medium to give general recommendations to find ways out
term, economic activity is expected to increase of the downturn and to prevent significant negative
in the nearby regions and external demand is impacts of downturns in the future.
likely to recover gradually.
Vulnerable industries in Estonia were those who are But Estonian companies are focusing on the devel-
dependent on big players in the automotive and opment of the economy; the economic revival has
electronic sectors. But also those industries who already started in Estonian companies. Controlling
participated in the benefits of additional foreign is certainly contributing to this development.
24 CONTROLLER Spezial | Controlling International