Viet Nam University Financial Management Autonomy Problems And Countermeasures

In the background of the socialist market economy, colleges and universitiestoday should think about the financial management of colleges and universities toadapt to new developments, to provide broader space for the development.In higher education reform in Vietnam, Vietnamese universities receivingfinancial management autonomy were major initiatives in recent years.This paper used the analytical framework of university financial managementtheory to analyse first of all the situation of Vietnamese universities before obtainingfinancial management autonomy, then the paper followed three typical Vietnameseuniversities during their implement of financial independent in financial years2010to2012. For this study period the paper investigated the university’s financialreports for three consecutive years; statistical analysis was conducted to comparebefore and after the financial autonomy.On this basis, the paper looked at three aspects of the financial autonomy ofuniversities in Vietnam before and after the change: the total funding, sources andstructure of funding, use of funds, then advantages and problems were analyzed.Finally the paper used experience from some developed countries as thereference to compare to the actual situation in Vietnam, the paper then proposedmeasures to further improve the financial management at the macro and micro levelsof colleges and universities in Vietnam.The results of this study will provide inspiration and reference to theVietnamese education authorities and internal financial management at universitiesin the country.