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Financial Health Check-Up for Future Sustainability

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Performance measurement is important in every organization both financial and non-financial. The efficiency of the financial management system depends on effective financial management and the quality and reliability of the financial reports prepared by the organization. With the increasing pressure for Local Authorities to improve their accountability, it was an appropriate time to look at the current state of the Local Authorities’ financial health. The objectives of the study are to determine the stimulus for change in Local Authority, KMC and to determine its financial health. The result shows that the preparation of the Financial Statements was just ceremonial and KMC had continuously incurred deficits for four consecutive years with no serious initiatives taken to improve the situation. However, discussion between the researchers and KMC on the seriousness of their financial health triggered a very strong stimulus for KMC to change for the better.
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Keywords: Financial Health; Financial Management; Kuantan Municipal Council; Local Authority

Document Type: Research Article

Affiliations: 1: Accounting Research Institute and Faculty of Accountancy, Universiti Teknologi MARA, Malaysia 2: Faculty of Accountancy, Universiti Teknologi MARA, Johor Branch, Malaysia 3: Faculty of Accountancy, Universiti Teknologi MARA, Melaka Branch, Malaysia

Publication date: July 1, 2018

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  • ADVANCED SCIENCE LETTERS is an international peer-reviewed journal with a very wide-ranging coverage, consolidates research activities in all areas of (1) Physical Sciences, (2) Biological Sciences, (3) Mathematical Sciences, (4) Engineering, (5) Computer and Information Sciences, and (6) Geosciences to publish original short communications, full research papers and timely brief (mini) reviews with authors photo and biography encompassing the basic and applied research and current developments in educational aspects of these scientific areas.
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