The study investigated the underlying factors which induce the School Governing Bodies (SGBs) and School Management Teams (SMTs) to boundary cross into each other’s finance functional domain despite the fact that their responsibilities are demarcated in the South African Schools Act No. 84 of 1996. The study also intended to examine financial conscientiousness as a critical strategy, which was aimed at achieving the following: restricting the boundary spanning management among School Governing Bodies and School Management Teams, giving direction and strengthening the relationship between the two structures in section 21 high schools. Pragmatism was used as a paradigm for this study as it has been hailed as one of the best paradigms for justifying the use of mixed methods research. The researcher located the study within mixed methods research and employed the convergent parallel design characterised by collecting concurrently both qualitative and quantitative data. The study used a nonprobability sampling strategy – a purposive sampling technique. The study focused on 147 participants. The sample consisted of the following participant sub-groups: (a) 138 questionnaires participants (46 school principals, 46 SGB chairpersons and 46 school finance officers) sampled from 46 high schools, and (b) 9 face-to-face interviews participants (3 school principals, 3 SGB chairpersons) and purposively sampled from 3 different section 21 high schools located in rural, semi-urban and urban areas of the Butterworth District, and 3 Departmental Officials (The District Director, An Education Development Officer, and District National Norms and Standards for School funding coordinator) sampled from the Butterworth Education District. The study was guided by the following research question: What ideas of consciousness raising strategies could help alleviate the crossing over of boundaries between SGBs and SMTs on financial matters of the section 21 high schools? The financial conscientiousness conceptual framework for this study hinged on the conscious raising concept of Paulo Freire supported by philosophical ideas of theorists of school-based management concept, school-based participative partnership concept, school-based participative management concept and teamwork concept. These theories are expected to encourage the inclusive participation when finances are handled in section 21 high schools. The study used a survey questionnaire to collect quantitative dataset and interviews for the qualitative dataset to find answers to the research question and also to enhance the reliability and validity of the research findings. The quantitative data were presented in tables with frequencies and percentages as well as pie charts. Themes and Natural Meaning Units (NMUs) were used to analyse the qualitative data. The overall findings backed by the extant literature and research data indicated that there was lack of trust among SGBs and SMTs. Owing to this mistrust the day to day activities of the school were compromised. There were power struggles between SGBs and SMTs in schools for the control of school finances. There were corrupt practices by both SGBs and SMTs in the management of school finances. The findings also revealed lack of capacity building by the department of education. Furthermore, the SGBs parent component was characterised by high illiteracy level – a systemic weakness worsened by the manipulation perpetrated by both school governing bodies and school management teams during school finance management processes. Resulting from the data analysis, the study recommended the utilisation and application of Sifuba’s School Finance Management Awareness Model (SSFMA) as a new model that could be adopted and adapted by the Department of Education for the school finance management. This will create educational sound atmosphere and realities at school level – a model that is capable of inducing the participative and inclusive behaviour of the SGBs and SMTs when they perform their financial responsibilities

The primary purpose of this dissertation is to develop the arguments for reporting directly on a company's cash flows in its published financial statements. Specifically, the Free Cash Flow (FCF) model of economist Joel Stern is analyzed and critiqued as a basis for a revised reporting scheme.