An examination on the impact of Financial Planning and Forecasting in State-Owned Companies and Parastatals. The case study of Zimbabwe Tourism Authority
- Author
- Shiripinda, Simon M.
- Title
- An examination on the impact of Financial Planning and Forecasting in State-Owned Companies and Parastatals. The case study of Zimbabwe Tourism Authority
- Abstract
-
This study examines the impact of financial planning and forecasting in state –owned companies
and parastatals using the Zimbabwe Tourism Authority as a case study. Issues have persisted, as
articulated by the media and unhappy stakeholders, preventing state owned firms from achieving
their objectives and exposing them to significant debts. This prompted the researchers interest in
establishing id state owned enterprises had financial planning and forecasting processes in place,
as well as whether qualified persons were available to generate accurate and acceptable prediction
sheets and budgets. It was required to evaluate whether or not these institutions have any
challenges in implementing financial planning and forecasting policies, as well as to make
recommendations about how to best execute such laws in the government owned sector. The
sample for this study was 51 respondents from the finance and internal audit departments at ZTA,
and it was conducted using a case study approach. The questionnaires and interviews
complemented each other as a research instrument. Despite the absence of a Chief Financial
Officer to oversee the implementation of the financial policies that would have been established,
the research indicated that ZTA had financial planning and forecasting systems in place. The lack
of a system demonstrating policy compliance and execution was discovered at ZTA. According to
the researcher, such a framework should be available to verify that the organizations financial
policies of planning and forecasting are observed - Date
- June 2022
- Publisher
- BUSE
- Keywords
- Financial planning
- Financial forecasting
- Supervisor
- Mr. Ngwende
- Item sets
- Department of Accountancy
