Theses and Dissertations (Accountancy)
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Browsing Theses and Dissertations (Accountancy) by Author "Maseko, G. J., Dr."
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Item An analysis of the relationship between working capital management and financial performance of JSE-listed construction companies in South Africa(Vaal University of Technology, 2021-11) Sejake, Letshaba Abiel; Maseko, G. J., Dr.; Beneke, J. D., Dr.Working capital management is an important aspect in the business in order to meet its daily activities. Permanent working capital, temporary working capital, gross working capital and net working capital are four types of working capital. The construction industry, as compared to any other industry, plays an important role in the economic growth of the country. The construction industry is regarded as the largest employer in the labour market and appropriate management of liquidity is essential. Construction contracts are divided into lump sum contracts, unit price contracts and cost plus a fee contracts and have the following role players: employer, employer’s representative, professional team, contractor, sub-contractor and adjudicator. This study analysed the relationship between working capital management and financial performance of JSE listed construction companies during the period 2009-2019. Annual financial statements, which included statement of financial position and statement of financial performance of all listed construction companies during the period 2009-2019 were extracted from the external database (IRESS) to obtain the data needed for statistical analysis. This study used a quantitative research method to analyse the relationship between working capital management and financial performance. Multiple linear regression and correlation analysis were used in this study with inventory conversion period (ICP), average collection period (ACP) and average payment period (APP) as independent variables and return on assets (ROA), return on equity (ROE) and gross operating profit (GOP) as dependent variables, in order to analyse the relationship between working capital management and financial performance of JSE-listed construction companies during the period 2009-2019. Results of this study indicated that working capital management has little or no influence on the financial performance of JSE-listed construction companies, therefore, this indicates that listed construction companies in South Africa need to manage their working capital properly by putting some new policies in place on their accounts payables and receivables, in order to have a relationship between working capital management and financial performance.Item The effectiveness of credit management policy implementation on residents' accounts in a Sedibeng district municipality(Vaal University of Technology, 2021-12) Masungini, Abba Walker; Robbetze, N.; Maseko, G. J., Dr.Municipal debt has been steadily rising year after year, jeopardizing the financial stability of many municipalities. There is a commonly overlooked provision within the Municipal Finance Management Act, section 64(2)(a), that states that the municipal manager must ensure that the municipality has a functional credit management and debt collection system. However, it is also the obligation of municipal residents to ensure that they pay rates and taxes for the services supplied to them in order to ensure the sustainability of service supply. Municipalities rely on revenue collection to ensure their survival and viability. Due to the importance of this sphere of government, this study investigates whether residents respond to the credit management policy of the municipality and whether it is implemented effectively. The study does so by looking at the relationship between credit management policy implementation and service delivery in the selected municipality in Sedibeng District. The study followed a quantitative research methodology, using self-administered hard copy questionnaires to collect data from 510 residents of municipality A of Sedibeng District municipality. Seven (7) different locations with the demographic of municipality A of Sedibeng District were selected to participate in the study, with a response rate of 100%. Data were statistically analysed through SPSS and testing included correlation analysis, factor analysis, frequency counting and ANOVA testing. The data collected revealed that there is a lack of credit management policy implementation and enforcement when it comes to non-payment of municipal outstanding accounts. According to the quantitative findings, residents have a negative attitude towards the credit management policy. However, the findings also showed that there are factors that influence responsiveness such as poverty, (un)employment and educational level. The findings also revealed a significant relationship between credit management policy and service delivery. Failure to pay municipal debts results in poor service delivery by municipalities. because they lack the financial stability necessary to provide a sustainable service supply. In turn, poor service delivery results in residents refusing to pay municipal debts because they are unwilling to pay for poor services. Recommendations such as continuous review of critical debt recovery policies, rebates and discount granted to residents, the introduction of advanced technical systems, quality service delivery, employee training and development and the like will assist municipalities to improve the effectiveness of their credit management policy implementation. The limitations to of study entails difficulty in obtaining municipal ethical clearance, because municipal officers are concerned about confidentiality. Furthermore, there were the COVID-19 regulations posed by the South African government to curb the spread of COVID-19 which also had an impact in collecting data from participants. The findings may not be generalised to a larger population of all South African municipalities.Item The influence of financial literacy on the financial behaviour and financial decision making of employees at a selected University of Technology(Vaal University of Technology, 2023-01-11) Makhuvele, Ephraim M.; Maseko, G. J., Dr.; Beneke, J. B., Dr.Financial literacy has an important effect on financial behaviour, which is an important factor that plays a vital role in sound decision making. Financial literacy and sound financial decision making determine not only the financial behaviours of individuals but also their financial well-being. The literature review showed that different authors have different understanding pertaining to financial literacy. Determinants of literacy (demographics) were identified in the literature and highlighted. Furthermore, measures of personal financial literacy which are budgeting, investing, borrowing and protection were highlighted in the literature. The lifecycle theory was outlined to show the influence of financial literacy on the financial behaviour and decision making. This study aimed to determine the influence of financial literacy on the financial behaviour and financial decision making of employees. The population in this study was employees of the Vaal University of Technology who are employed by the university, with a total of 2072 employees. The sample was determined by using simple random sampling, which obtained 205 samples. The collection of primary and secondary data was done using the quantitative approach, together with an exploratory and descriptive design, which was used in designing the questionnaire. Data were collected from employees from the Vaal University of Technology through a self-administered questionnaire. The COVID-19 pandemic affected the collection of data negatively as some employees did not have access to their emails; therefore, they did not participate in the study. The analytical tool in this study is the descriptive analysis and Chi Square. Data was processed by using the SPSS program and Microsoft Excel. The results showed the overall financial literacy index was 0.693 which showed that most of the respondents have a high level of financial literacy. This study concluded that high levels of financial literacy has had a positive influence on the financial decision making of employees towards their money management skills and has led to their ability to behave correctly. The study recommended that employees should change their attitudes towards money management, and they must acquire the necessary financial knowledge through financial education and training to improve their level of financial literacy.