REVIEW OF FINANCIAL MANAGEMENT IN PRIVATE FIRMS: UNLOCKING THE CASH MANAGEMENT MODEL
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F22%3A63554558" target="_blank" >RIV/70883521:28120/22:63554558 - isvavai.cz</a>
Result on the web
<a href="https://ijek.org/index.php/IJEK/article/view/172" target="_blank" >https://ijek.org/index.php/IJEK/article/view/172</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.37335/ijek.v10i2.172" target="_blank" >10.37335/ijek.v10i2.172</a>
Alternative languages
Result language
angličtina
Original language name
REVIEW OF FINANCIAL MANAGEMENT IN PRIVATE FIRMS: UNLOCKING THE CASH MANAGEMENT MODEL
Original language description
Financial management is a complex body of knowledge that is still evolving without any successful template for its practice, especially in private firms. This paper reviews research on actual financial management in private firms to see if cash management models critical to working capital management are incorporated. The approach is to review all the models in extant literature used for cash management, itself a component of working capital. However, search results show that only Pugmire (1952) outlines the activities involved in actual financial management practice for local schools in the United States. He identified the generalizable constituents of the financial management process, including budgeting, accounting, auditing, records and reports, and cost analysis. The choice of cash as the review focus is because it is the essence of financial management in private firms: determining and sourcing capital as cash and utilizing it by allocation process to generate more cash and maximize the firm's value to stakeholders. Therefore, this paper contributes to financial management literature by extending Pugmire's (1952) template for public schools with cash management models in extant literature that can also be adapted for private firms, with potential for further research.
Czech name
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Czech description
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Classification
Type
J<sub>ost</sub> - Miscellaneous article in a specialist periodical
CEP classification
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OECD FORD branch
50204 - Business and management
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2022
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
International Journal of Entrepreneurial Knowledge
ISSN
2336-2952
e-ISSN
2336-2960
Volume of the periodical
10
Issue of the periodical within the volume
2
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
12
Pages from-to
95-106
UT code for WoS article
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EID of the result in the Scopus database
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