Examining the emangement of financial data in salaga government hospital

Abstract

Poor financial data management practice is a major contributor to the collapse of many businesses. There is therefore the need for every organization to keep proper needs of their finances for growth. This study is sought to examine the management of financial data at the Salaga Government Hospital to determine the factors, requirement and principles of financial data management at the hospital. This is to help highlight the need for proper keeping of financial data. The objective of the research was to examine the management of financial data at the Salaga Government Hospital in the Northern Region of Ghana. This report uses records review and observation as it instruments of data collection. It uses both the qualitative and quantitative methods using interview and review of financial records. Purposive sampling method was used to select a sample size of fifty (50) records from account offices. Some of the findings from the study revealed that an efficient accounting system is the major quality of the a proper financial management practice and this is tailed by budget controls and poor strategic planning. Lack of skills and capabilities are the main challenges of a proper financial management practice at the hospital. It was therefore recommended that a structured framework for assessing overall financial management practice should be considered by management, and future researchers should research into why there are financial management practices but the institution still face financial challenges.