Public finance management system in modern conditions

Chornovol, Alla; Tabenska, Julia; Tomniuk, Tetiana; Prostebi, Liudmyla

doi:10.21511/imfi.17(4).2020.34

Cited by 16 publications

(7 citation statements)

References 28 publications

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“…Some of the research papers analysed examine AI implementation not in financial products and services but in financial management. After a lot of investigation and practice by scientific researchers, the modern financial management system is different from the previous accounting-based accounting management system and expands other business operations on the basis of the traditional financial management system (Chornovol et al 2020). To better promote the healthy and long-term development of corporate financial management, the basement is established on the perspective of artificial intelligence (AI) (Xu and Song 2021).…”

Section: Implementation Of Ai In Financementioning

confidence: 99%

A Survey on AI Implementation in Finance, (Cyber) Insurance and Financial Controlling

Aleksandrova

Ninova

Zhelev

2023

Risks

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Artificial intelligence is changing the world in unprecedented ways and redefining all areas of human activity. In recent decades, the development of AI has progressed at an extraordinary pace. This study examines the scope of implementing AI in the financial sector, insurance, and financial controlling. The research team focuses on these areas, as the main objective of this review is to provide a comprehensive walk-through and to fill the gaps in the literature related to AI implementation in finance, insurance, and financial control from an economic perspective. We provide a comprehensive overview of AI implementation in finance, insurance, and financial controlling, highlighting crucial issues in that process and identifying the relationship between the development of these economic sectors and AI. The authors’ team identifies the trends and main themes in the existing literature in AI-related publications in finance, insurance, and financial control. We discuss the main advantages and disadvantages of AI implementation, identified by our research, and also make some suggestions regarding future research having in mind the interdisciplinary of the topic, the vast development of AI and technologies, and the increasing demand for AI-based solutions, services and products.

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Section: Implementation Of Ai In Financementioning

confidence: 99%

A Survey on AI Implementation in Finance, (Cyber) Insurance and Financial Controlling

Aleksandrova

Ninova

Zhelev

2023

Risks

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“…At present, many countries are committed to improving the efficiency and level of the use of enterprise funds and improving the business activities of enterprises as much as possible, so as to maximize the output of enterprise investment [7]. After a lot of investigation and practice by scientific researchers, the modern financial management system is different from the previous accounting-based accounting management system and expands other business operations on the basis of the traditional financial management system [8]. In order to effectively combine the actual business process and operation, the management and interaction of data resources can be completed.…”

Section: Related Workmentioning

confidence: 99%

Simulation Analysis of Artificial Intelligence in Enterprise Financial Management Based on Parallel Computing

Feng

2022

Mobile Information Systems

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Under the background of today’s society, people’s daily life and production are inseparable from the use of information technology. With the rapid development of Internet technology and national information industry, more and more small and medium-sized enterprises choose to apply AI financial information management system. Based on this background, this paper introduces the principle of parallel computing and applies it to the financial management of enterprises together with artificial intelligence technology. Firstly, the paper discusses the model and form of the basic technology, then optimizes it, studies the actual financial management needs of small and medium-sized enterprises, completes the design and implementation of the system structure, and conducts simulation experiments to test the effectiveness of the system’s functional performance. It can be seen from the test results that the system meets the design goals and has basic functions, but some details and contents need to be improved and supplemented. Therefore, we must strive to ensure the accuracy, preciseness, and reliability of financial management data. When more data are needed, faster and better data processing based on user needs and feedback is required. This paper delves into artificial intelligence technology and the idea of parallel computing. This paper applies it to the field of enterprise financial management to create an effective management system.

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“…In Ukraine, public finance has a significant influence on the formation of the financial system's stability, as noted in many studies. The relationship between the state of public finances and the state of the financial system of the EU and Ukraine is studied in the work of Chornovol et al (2020). They note that one of the main restraining factors in the development of the public finance system is a significant level of uncertainty in economic processes, which exacerbates macroeconomic fluctuations, significant public debt and budget deficit pose risks to financial and economic stability; their potential negative impact on socio-economic processes is much more destructive than the pro-cyclical nature of fiscal policy.…”

Section: Literature Reviewmentioning

confidence: 99%

Modeling of the financial system?s stability on the example of Ukraine

Shkolnyk

Kozmenko

et al. 2021

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Research background: Financial stability is one of the key tasks in the functioning of the country?s financial system. National financial systems have significant differences in the level of their development, structure and approaches to regulation. There are no uniform world standards for methods and indicators of assessing financial stability. International financial institutions, including the International Monetary Fund, only outline certain areas and offer an indicative list of indicators that should be taken into account. Purpose of the article: Taking into account the peculiarities of the subject and object structure of Ukraine?s financial system, this study formed groups of indicators that reflect the state of financial depth, level of access and efficiency of the financial system, systematized by subject (financial institutions) and object financial markets) characteristics. Methods: The basis for the formation of a set of indicators is a matrix of characteristics of the financial system?s stability, which is formed according to the principle of 4x2 proposed by experts of the International Monetary Fund. The list of indicators to calculate the integrated indicator that characterizes the stability of the financial system of Ukraine, covers the period 2007?2019 and includes 29 indicators that take into account the peculiarities of its formation and development. Harrington?s desirability function is used to determine the integrated indicator that characterizes the state of financial stability. Findings & value added: The intermediate calculations obtained by modeling groups of indicators showed that the level of access to the financial system and the state of its depth are balanced during the study period (the range of variation of integrated indicators for these groups is minimal ? from 0.1 to 0.18), is at a satisfactory level and the basis for ensuring the financial system?s stability. Conversely, the efficiency of the financial system is low, and characterized by a high degree of volatility (range of variation ? 0.51). The obtained integrated indicator, which is in the range from 0.41 to 0.54 on the Harrington desirability scale, makes it possible to assess the state of the financial system?s stability in Ukraine as satisfactory, but with a high level of sensitivity to both external and internal shocks.

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Public finance management system in modern conditions

Cited by 16 publications

References 28 publications

A Survey on AI Implementation in Finance, (Cyber) Insurance and Financial Controlling

A Survey on AI Implementation in Finance, (Cyber) Insurance and Financial Controlling

Simulation Analysis of Artificial Intelligence in Enterprise Financial Management Based on Parallel Computing

Modeling of the financial system?s stability on the example of Ukraine

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