THE IMPORTANCE OF IMPLEMENTING FINANCIAL MANAGEMENT, CONTROL, AND IT IN PUBLIC SECTOR OPERATIONS IN THE REPUBLIC OF SERBIA
Sažetak
The goal of the work was to find out the trust of top managers of commercial banks, the management of the management bodies of local self-government units and top managers of public companies regarding the implementation of financial management and control, which is achieved by the application of IT systems as a management decision support system. We discovered that there are big differences in entities that did not implement financial management and control in regular business compared to those entities that did. In addition, in the following period, the factors given in the research should be taken into account, such as: completeness of beliefs, economy in work, business efficiency, effective business, contribution to the development of a public company and the overall score, as well as the fact that there is a significant deviation when observing those entities that do not apply and those that apply the mentioned control in business. In the end, the work indicates that it is possible to forecast future business, based on all three levels of management, primarily the public sector, as well as that it is necessary to consider innovative efforts such as the application of IT support systems.
Reference
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Tapsoba, Y., Silim, A., Frimpong, K. A., & Barroy, H. (2024). Does Public Financial Management Save Life? Evidence from a Quantitative Review of PFM and Health Outcomes in Sub-Saharan African Countries. Health Systems & Reform, 10(1). https://doi.org/10.1080/23288604.2023.2298190
Kabuye, F., Kato, J., Akugizibwe, I., & Bugambiro, N. (2019). Internal control systems, working capital management and financial performance of supermarkets. Cogent Business & Management, 6(1). https://doi.org/10.1080/23311975.2019.1573524
Porras-Gómez, A. M. (2022). Multi-level governance of grant programs. The case of Cohesion and External Action in the European Union. Public Money & Management, 1–8. https://doi.org/10.1080/09540962.2022.2071050
Mielitz, K., & MacDonald, M. (2020). Social Desirability in Multivariate Context for Inmate Survey Research. Corrections, 7(4), 247–261. https://doi.org/10.1080/23774657.2020.1789520
Laing, A., & Richardson, L. (2024). Fronts and Friends: Social Contingencies in the Management of Drug Debt. The Sociological Quarterly, 65(2), 182–203. https://doi.org/10.1080/00380253.2024.2306979
Atatsi, E. A., Azila-Gbettor, E. M., Akuma-Zanu, H., & Mensah, C. (2023). Financial management practices and life satisfaction: Mediating effect of financial satisfaction. Cogent Education, 10(2). https://doi.org/10.1080/2331186X.2023.2251746
Hussain, S., Ali, R., Abdul Latiff, A. R., Fahlevi, M., Aljuaid, M., & Saniuk, S. (2024). Moderating effects of net export and exchange rate on profitability of firms: a two-step system generalized method of moments approach. Cogent Economics & Finance, 12(1). https://doi.org/10.1080/23322039.2024.2302638
Oppong, C., Salifu Atchulo, A., Akwaa-Sekyi, E. K., Grant, D. D., & Kpegba, S. A. (2023). Financial literacy, investment and personal financial management nexus: Empirical evidence on private sector employees. Cogent Business & Management, 10(2). https://doi.org/10.1080/23311975.2023.2229106
Sun, J. (2022). Essential skills for public budgeting and financial management. Journal of Public Affairs Education, 28(3), 290–301. https://doi.org/10.1080/15236803.2022.2031473
Piatti-Fünfkirchen, M., & Schneider, P. (2018). From Stumbling Block to Enabler: The Role of Public Financial Management in Health Service Delivery in Tanzania and Zambia. Health Systems & Reform, 4(4), 336–345. https://doi.org/10.1080/23288604.2018.1513266
Laing, A., & Richardson, L. (2024). Fronts and Friends: Social Contingencies in the Management of Drug Debt. The Sociological Quarterly, 65(2), 182–203. https://doi.org/10.1080/00380253.2024.2306979
Lekić, N, Vapa-Tankosić, J., Lekić, S., Vapa , B, Mandić , S. (2023). Intellectual capital and business performance in ICT companies, Ekonomija - teorija i praksa, 2, 44-61. https://www.fimek.edu.rs/downloads/casopisi/ekonomija/arhiva/2023-ekonomija-br-2.pdf
Tsarouhas, D. (2020). Policy Transfer, External Actors and Policy Conditionality: Public Financial Management Reform in Turkey. The Journal of the Middle East and Africa, 11(4), 341–357. https://doi.org/10.1080/21520844.2020.1832876
Chen, S., Lakkanawanit, P., Suttipun, M., & Xue, H. (2023). Environmental regulation and corporate performance: The effects of green financial management and top management’s environmental awareness. Cogent Business & Management, 10(1). https://doi.org/10.1080/23311975.2023.2209973
van Helden, J., Santolamazza, V., Budding, T., & Mattei, G. (2024). Are values driving consultants in public sector financial management advice? Public Money & Management, 1–11. https://doi.org/10.1080/09540962.2024.2422491
Jordan, R. E., Hoskins, M., & Duncan, J. B. (2000). Financial Management Instruction Within Graduate Theological Institutions: An Empirical Investigation. Journal of Ministry Marketing & Management, 5(1), 65–77. https://doi.org/10.1300/J093v05n01_06
Arnautović, I., Davidov, T., Nastić, S., Popović, S. (2022) Značaj donošenja racionalne poslovne odluke top menadžmenta u poljoprivrednim preduzećima u Republici Srbiji, Poljoprivredna tehnika, 47(3), 1-8, https://scindeks.ceon.rs/article.aspx?artid=0554-55872203001A
Bakmaz, O., Bjelica, B. & Popović, D. (2023). Implementation of internal control mechanisms and the possibility of improving financial management in large and medium-sized agricultural enterprises, Agriculture & Forestry, Vol. 69(2), 35-44, http://www.agricultforest.ac.me/data/20230630-03%20Bakmaz%20et%20al.pdf
Popović, S., Bakmaz, O., Popović, D., Dragosavac, M., Nastić, S., Pajović, I., Majstorović, A., Sredojević, D., Radaković, M. Petković, Z. (2025). Valuation of agricultural land in relation to location of city centers as a factor in the management of mentioned resource, Agriculture & Forestry, 71(1), 99-113, https://doi:10.17707/AgricultForest.71.1.08
Bakmaz, O. Eremić-Đođić, J.; Dragosavac, M. Sredojević, D. Dejanović, A. Arnautović, I. Krstajić, G. & Popović, S. (2025). Financial Management of Small and Medium–sized Farms using State Subsidies, it System of Records for Genetic Resources: Example of Republic of Serbia. J Agron Technol Eng Manag 8(2), 1562-1572. https://www.fimek.edu.rs/downloads/casopisi/jatem/issue/v8_2/11_(11)JATEM_1562_1572_PEMC9801.pdf
Belfadel, A., Amdouni, E., Laval, J., Cherifi, C. & Moalla, N. (2022) Towards software reuse through an enterprise architecture-based software capability profile, Enterprise Information Systems, 16(1), 29-70, https://doi.org/10.1080/17517575.2020.1843076.
Beghelli, A. & Jones, S. (2022) What an original app!: a study on the novelty of software products, International Journal of Design Creativity and Innovation, 10(2), 101-122, https://doi.org/10.1080/21650349.2021.1997649.
Colović, M., Đuranović-Miličić, J., Gligović, D., Arnautović, I, Nastić, S. & Popović, S. (2024). Joint investments of the real economy and healthcre institutions in the Republic of Serbia, Ekonomija Teorija i praksa, 17(3),97-108, https://www.fimek.edu.rs/downloads/casopisi/ekonomija/arhiva/2024-ekonomija-br-3.pdf
Popović, D., Vitomir, J., Tomaš-Miskin, S., Davidov, T., Popović, S., Jovanović, M., Aćimić-Remiković, M. & Jovanović, S. (2021). Implementation of internal control with reference to the application of “it” in companies operating on the principles of the green economy. Agriculture & Forestry, Vol. 67(2), 261-269, https://www.researchgate.net/publication/359200050_implementation_of_internal_control_with_reference_to_the_application_of_it_in_companies_operating_on_the_principles_of_the_green_economy
Rudakiewicz, N. (2022) Long and arduous way to decentralization: past, present and future of the reforms of local self-government in Ukraine, Southeast European and Black Sea Studies, https://doi.org/10.1080/14683857.2022.2131985
Yu, X., Huang, Y. & Xiao., K. (2021) Global economic policy uncertainty and stock volatility: evidence from emerging economies, Journal of Applied Economics, 24(1), 416-440, https://doi.org/10.1080/15140326.2021.1953913.
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2025/10/14
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Originalni naučni članak
