Search results for: fair value in case ifrs 15 in All Content

Public value and legitimacy

Wartość publiczna a legitymizacja

Author(s): Grażyna Musial,Rafał Musialik / Language(s): Polish / Issue: 305/2013

Keywords: public sector; public value; legitimacy

The goal of the paper is to examine the relation between public value and legitimacy. The first is a relatively new (1995) concept of management in public sector, and it expresses an idea that public sector managers should create value to the public (so-called public value). Unfortunately, there are several interpretations of public value, all of them described in the article. Legitimacy is one of the crucial ideas in political science, and the main properties of legitimacy are described too. Finally, the concept that public value is an underlying basis for legitimacy, and its consequences are analyzed.

Enterprise value and goodwill

Wartość przedsiębiorstwa a wartość firmy

Author(s): Magdalena Wójcik-Jurkiewicz / Language(s): Polish / Issue: 53/2009

The main purpose of these considerations is presentation and explanation of the concepts of enterprise value and goodwill. Accounting practice shows that there has been some confusion resulting from misunderstanding of these concepts, especially in the Polish context, where terminology used in relation to these value categories is misleading. The paper clarifies this issue by showing a clear distinction between these two concepts.

Transparency and quality of financial disclosures. The case of Romanian listed companies

Transparency and quality of financial disclosures. The case of Romanian listed companies

Author(s): Nadia Albu,Liliana Geanina Vasile,Cătălin Nicolae Albu,Ruxandra Mateescu / Language(s): English / Issue: 78/2014

Keywords: corporate disclosures, Romania, listed entities, agency theory, transparency, quality of the accounting information

This paper addresses the transparency and the quality of financial disclosures of listed entities in the case of an emerging economy (i.e. Romania), in order to shed some light on the particular local context of the country and its impact on accounting practices. We analyze the entire population of non-financial entities listed in the first tier of the Bucharest Stock Exchange for the 2012 financial year. We are limited in our research by the size of the sample, which depends, however, on the small size of the Romanian stock market. In order to compensate for the small size of the sample, we assess 50 items related to disclosure, synthesized in two scores, i.e. transparency and quality. Also, we identify some factors associated with disclosure by investigating the correlation with several firm-related factors. Our results reveal a medium level of transparency and quality of Romanian listed companies, with significant variations between firms and between the sub-scores. The most important factors correlated with disclosure are company size and the presence of institutional investors. The results confirm to some extent most of the basic assumptions of the agency theory and also prove the importance of a new variable for emerging economies, specifical-ly the presence of institutional investors.

SOLVENCY II: METHODOLOGICAL ASPECTS OF USING VALUE-AT-RISK FOR INSURANCE

SOLVENCY II: METHODOLOGICAL ASPECTS OF USING VALUE-AT-RISK FOR INSURANCE

Author(s): Casian Butaci / Language(s): English / Issue: 16/2010

Keywords: Solvency; Insurance; Value-at-Risk; Tail Value-at-risk

Built on a three-pillar structure, the new European System of Insurance solvency “Solvency II” aims to ensure that insurance companies measure and manage better the risks they are expose. The consultation on the first pillar, on the quantitative requirements, largely refers to two well-known measures of risks: Value-at-Risk and Tail Value-at-Risk. The measuring of an insurance risk using the VaR technique claims certain adjustments. In this piece of work, we will present the context of VaR insurance application

The Formative Value of the Davidic Psalms in Cult and Culture

The Formative Value of the Davidic Psalms in Cult and Culture

Author(s): Petre Semen / Language(s): English / Issue: 1+2/2005

The study considers the major influence of the Psalms on the praying habits of the believer. Regardless of the confession, through their moralizing ideas, the messianic references and last but not least the believer’s intense seeking of God, the Psalms have become since a long time main prayer book of humanity. Furthermore the Psalms had a major influence on the Romanian literature. Even the written culture of the Romanian people began with the translation of the religious texts, such as the versification of the Psalms by bishop Dosoftei, which was, for a long time, a guiding mark and a reference for Romanian poetry. The Romanian poets, such as Dosoftei, Eminescu, Arghezi or Vasile Voiculescu were deeply impressed by the Psalms. It is characteristic that they did not focus on the aesthetic, but rather on the spiritual functionality, and on the permanent connection between man and God. Thus, a large part of their literary work is entitled Psalms or borrows motifs from the Davidic Psalms.

ZUZANA PROFANTOVÁ et al: The Value of Change – The Change of Value. 1989, The Year of Demarcation

ZUZANA PROFANTOVÁ et al: The Value of Change – The Change of Value. 1989, The Year of Demarcation

Author(s): Peter Salner / Language(s): English / Issue: 5/2011

ECONOMIC VALUE ADDED AS A MODERN PERFORMANCE INDICATOR

ECONOMIC VALUE ADDED AS A MODERN PERFORMANCE INDICATOR

Author(s): Maja Ilić / Language(s): English / Issue: 3/2010

Keywords: Innovative concept measuring business performance; economic value added; accounting modifications; cost of equity.

The qualitative information support presents a step further in the business process. Many traditional indicators of performance that have been used by the companies could not provide such support. Economic value added as an innovative approach to the measurement of business performance gives us a more realistic overview about the current state of the company. Taking into account the cost of equity and the possibility of execution of numerous accounting modifications represent significant innovations regarding to other concepts. The aim of this paper is to show practical examples of the extent to which traditional assessment of the company success may differ from the business overviewed from the perspective of economic value added.

The Present Value Dimensions of the Romanian Pre-School Curriculum

The Present Value Dimensions of the Romanian Pre-School Curriculum

Author(s): Liliana Stan / Language(s): English / Issue: XVIII/2014

Keywords: curriculum, pre-school education, teaching contents, values, value orientations

In the Romanian pre-school education system, the contents proposed for teaching are specified in the curricular documents that regulate the formative activity. Periodically restructured and resized, these contents are listed today in the document (in force since 2008) known as the Curriculum for the early education of children aged three to six/seven (Curriculumul pentru educaţia timpurie a copiilor de la 3 la 6/7 ani). In Romanian kindergartens, the above-mentioned regulating reference suggests a radical change of view of the contents offered to pre-schoolers, as well as of the goals, the manner of conception and the actual realisation of all the pre-school activities, in accordance with the most recent trends in early education policies in many countries of the world, and the explicit subscription to the curricular perspective on training. The present study contains the results of an analysis of the Curriculum for the early education of children aged three to six/seven (2008) in Romania; the research is of a qualitative type and is based on the assessment of the afore-mentioned document from the perspective of several value categories: moral, civic, esthetic, scientific, and others. The collected data lead to several conclusions regarding structured value orientations, the worth of the regulating reference considered (as compared to some earlier versions) and the trends in structuring educational policy instruments for pre-school level.

Evaluating Sustainable Value of the Packaging Sector Using SEVM (The Sustainable Enterprise Value Map) Tool

Evaluating Sustainable Value of the Packaging Sector Using SEVM (The Sustainable Enterprise Value Map) Tool

Author(s): Agnieszka Cholewa-Wójcik / Language(s): English / Issue: 1/2016

Keywords: competitiveness; creating values in the area of sustainable development; SEVM tool;

The main aim of the following methodological article is to present possibilities of the SEVM (the Sustainable Enterprise Value Map) tool usage, based on which there is a possibility of planning and realising actions of sustainable development in companies. The verification of the SEVM usefulness as an efficient tool to identify the effects of the feedback of activities connected to responsible business and sustainable development has been done on the basis of the data included in the subject literature and the analysis of strategic and operational packaging branch companies activity, the possibility to achieve competitive advantage by implementation of activities including economic, environmental and social dimension to the value creating process. Practical and social implications: the use of a sustainable enterprise value map to evaluation of responsible activities from the range of sustainable development allows achieving competitive advantage by the possibility to enter the new outlet, influencing the customers’ loyalty and the improvement of efficiency in the range of operational activity.

Public value and business activity

Wartość publiczna a działalność przedsiębiorstw

Author(s): Magdalena Wiśniewska / Language(s): Polish / Issue: 31/2017

Keywords: public value; shared value; public management; public value scorecard

The public value is a relatively new concept and is applied mainly in public management. Moreover, this concept has become the basis for the emerging new paradigm of public management. Nevertheless, „public value” is so attractive that it can be introduced also into the sphere of business activity, as shown in this study. This article introduces the issue of the impact of private sector on public value. Its purpose is to indicate whether and in what context one can use the concept of public value in the theory and practice of business operations. Considerations are based on Polish and world literature.

Value priorities of future preschool and class teachers in Serbia in terms of the Schwartz refined value theory1

Value priorities of future preschool and class teachers in Serbia in terms of the Schwartz refined value theory1

Author(s): Milica Marušić-Jablanović / Language(s): English / Issue: 2/2018

Keywords: Schwartz value theory; refined model; location of values; hierarchy of values; future preschool and class teachers

To understand an individual’s behavior, attitudes, and decisions, it is necessary to learn his/her value priorities. In order to explore the structure and hierarchy of values of future preschool and class teachers we conducted a survey (N = 232). It relies on the famous Schwartz value theory in its refined version, applying his PVQ-57 (Portrait Value Questionnaire). The analysis encompassed reliability analysis, goodness of fit, multidimensional scaling, mean rating and ranking, and t-test. The obtained data fits the theoretical model well, and the location of empirical value types can be predicted by the proposed circumplex, except for universalism and benevolence values, which are located in reverse. Several values adjacent in the model appear combined in the data. The value hierarchy starts with Benevolence (Care and Dependability), Self-direction–Action, Security–Personal, Universalism–Concern, and finishes with Humility, Power–Resources and Dominance.

“Break-Even Calculations Rule in Financial Fair Play” within the Scope of Financial Sustainability in Football Industry and Implementation of Beşiktaş Football Club

Futbolda Finansal Sürdürülebilirlik Kapsamında “Finansal Fair Play Başa Baş Kuralı” ve Beşiktaş Futbol Kulübü Üzerinde Uygulama

Author(s): Hüseyin Aktaş,Salih Mutlu / Language(s): Turkish / Issue: 02/2016

Keywords: Financial Sustainability in Football Industry; UEFA Financial Fair Play Regulations; Besiktas Football Corporation;

Generally in football industry while objecting sportive success, ignorance of financial resources relatively restrains the financial sustainability of football industry. The aim of this paper is to analyze the degree of Besiktas Football Club’s compliance to the criterion of auditing called “Financial Fair Play” which was designed by UEFA and has been in operation for a while now. The purpose is the continuity of the rapidly developing football industry’s sustainability which has been commercialized in Europe recently. Besiktas Football Club has given some commitments to UEFA based on “Break-Even Calculations” which are the most substantial parts of the UEFA’s Financial Fair Play Criteria. It is known that if the club doesn’t meet these criteria, various punitive sanctions including the disqualification from the European Cups might be applied. Based upon the “Break-Even Calculations” set in the regulations of the UEFA regarding financial fair play, the actual revenue-expenditure balance of the club was analyzed with the actual financial data. Consequently, unless any extraordinary status exists until the end of the season and positive course of the financial balance with the actual data about 2015-16 season is considered, the club can meet its commitments and operate without any problems.

Confiscation of Part of Crime Instrumentalities or Part of their Value and Principle of Proportionality

Nusikaltimo padarymo priemones dalies konfiskavimas ar jos vertes dalies išieškojimas iš proporcingumo principo perspektyvos

Author(s): Skirmantas Bikelis / Language(s): Lithuanian / Issue: 96(2)/2018

Keywords: confiscation; crime; Criminal Code;

The article discusses the spectrum of possible legal frameworks and decisions in the field of confiscation of the instrumentalities of the offence in the light of the constitutional principles of proportionality and equality. Having legal imperative in the Criminal Code to confiscate instrumentalities in every case where accused person is convicted, until recent years employment of the constitutional principle of proportionality for the challenging of this imperative has been traditionally very rare and legal thinking has been rather undeveloped in this field. With the criminalization of drunk driving in the beginning of 2017, the problem of proportionality of confiscation of the instrumentality (a car) became the subject of the judicial reasoning rather often. The article discusses recent judicial practice and explores the reasoning in favour of confiscation of the instrumentalities of the offence and against it. The author argues that dilemma of confiscation or non-confiscation may not be sufficient to reach the fair decision in many cases and the confiscation of part of instrumentalities (or even more often – of the part of the value of the instrumentalities) could often be the fair, proportionate and balanced decision. Moreover, the author challenges judicial practices where the whole burden of confiscation is being placed on only one of the accomplices. He argues that principle of fairness requires to distribute the burden of confiscation (at least – confiscation of the value of the instrumentality) in fair and proportionate manner among accomplices with regard to their role in the offence and to all the circumstances of the particular case.

Similarities and Differences in Values of Polish Young Women and their parents – the Effect of Value Transmission and Value Change

Similarities and Differences in Values of Polish Young Women and their parents – the Effect of Value Transmission and Value Change

Author(s): Karolina Pietras,Joanna Fryt / Language(s): English / Issue: 2/2015

Keywords: values; intergenerational differences; transmission of values

The similarities and differences in values between generations reflect both the stability and change of socio-cultural trends prevailing at a specific time point as well as developmental processes occurring across the life span. Intergenerational similarities in values may be the effect of value transmission within family or consequence of sharing the same socio-cultural context, since both these processes are difficult to separate. The aims of the study were: 1) to describe similarities and differences in values preferences between young women and their both parents; 2) to determine which values may be transmitted within families. Ninety nine women aged 19-25 and their both parents filled in the Schwartz’ Portrait Value Questionnaire [PVQ21, Schwartz 2003]. Comparing to older generation young women showed greater preference for achievement, hedonism, stimulation and universalism as well as less preference for conformity and tradition. To assess value transmission two methods measuring similarity between family members were used. According to correlation analysis values representing conservation (conformity, tradition and security) as well as benevolence and power were transmitted in families between women, while security and two values related to self-enhancement (power and achievement) were transmitted between fathers and daughters. According to comparisons of family dyads with pseudo family dyads only mothers and daughters were found to be similar in their preference for tradition, security and power.

Revenue management of changes in foreign exchange rates - case study of production companies with foreign participation in the Czech Republic

Revenue management of changes in foreign exchange rates - case study of production companies with foreign participation in the Czech Republic

Author(s): Jana Hinke,Marián Vdoviak,Tomáš Pilař,Andrea Čermáková / Language(s): English / Issue: 01+02/2020

Keywords: Foreign Currency; Exchange Differences; International Financial Reporting Standards IAS/IFRS; Functional Currency; Presentation/Reporting Currency; Production Company; Assembly Plant;

The issue of choice of currency in the financial accounting of companies is a very current topic, as it is quite common for almost every trading company to have relationships or trade with foreign countries. For this reason, foreign currency transactions appear in the accounting. However, if individual accounting entities trade with foreign countries in larger volumes, there may be huge exchange rate differences that distort the financial results of enterprises. An example of this is the so-called assembly plants on the territory of the Czech Republic, which are required to keep accounting records in the Czech currency according to the Act on Accounting (1991). Nevertheless, they purchase most materials abroad, and final products are also exported abroad. The purpose of the paper is to compare approaches to the choice of currencies within two accounting systems - the IAS/IFRS and the Czech accounting system. Also, the paper is aimed at presenting the results of the research with a task to quantify the impact of the use of the functional currency (according to the IAS/IFRS) with regard to the differences in the exchange rate and the amount of gains/losses by using a selected segment in the Czech Republic as an example, namely: 122 production companies of foreign origin operating in the Czech Republic, specifically in Pilsen Region, with the largest representation of those from Germany (61 plants), Japan (19 plants), France (17 plants), Slovakia (9 plants), the USA (4 plants), the UK (4), Liechtenstein (2 plants), Luxembourg (2 plants), Belgium (2 plants), and Spain (2 plants). The research has shown that the volume of transactions that affect exchange rate differences decreases by 69.84% on average if the functional currency is introduced compared to keeping accounts in the Czech crowns. Further, it has been determined that exchange rate differences fall by a similar percentage.

The Impact of Applying the IFRSs in Emerging Economies. Case Study on Iraqi Conventional Banks

The Impact of Applying the IFRSs in Emerging Economies. Case Study on Iraqi Conventional Banks

Author(s): Dhiaa Al Deen Alazzawi,Ileana Nisulescu / Language(s): English / Issue: 08/2021

Keywords: IFRS; emerging economies; Iraqi system banks; Iraqi conventional banks; value relevance;

This research deals with the study of the impact of applying the IFRS in emerging economies, and while referring to the impact of applying the IFRS in Arab countries, the focus is on Iraqi banks, especially conventional banks. The importance of applying the IFRS in emerging economises is that it enables the banks to continue to provide their services to the public, to face future financial problems, and to keep abreast of internal and external developments. It also identifies constraints in order to use the IFRS data which helps Iraqi banks to make their decisions and financial investment plans. The researchers obtained the data for this study through data analytics, which is based on data collected from the annual financial statements of 10 conventional banks. The conclusions of the study contain a set of results that conventional banks are seeking in regards to profitability without being bound by international standards, and also results that the customers are seeking in order to achieve benefits from the banks that apply the international standards (for example, the increase of the security of their deposits). The study concluded that the adoption of IFRS is necessary for banks, since this will help in attracting foreign investments to Iraqi banks.

Examining the Views of Physical Education Teachers on Value Expectations in Physical Education and Sports Activities

Beden Eğitimi Öğretmenlerinin Beden Eğitimi ve Spor Etkinliklerinde Değer Beklentilerine Yönelik Görüşlerinin İncelenmesi

Author(s): Ahmet Deveci,Mehtap Yildiz / Language(s): Turkish / Issue: 1/2022

Keywords: Physical education; sports; activity; teacher; value; value education;

The purpose of the research was to examine the views of physical education teachers on value expectations in physical education and sports activities. The study was designed as a qualitative research and interview method was used in the research. The research group consisted of 21 physical education teachers (13 Male, 8 Female) who were selected according to the convenient sampling method in 2019-2020 Academic Year in Hatay province. Research data were collected through a semi-structured interview form developed by the researchers. In the research, the data were evaluated by content analysis method. According to the results of the research, it was determined that most of the physical education teachers expected their students to exhibit behaviors towards sportive virtue in cases of winning and losing, and some others expected their students to always be on the winning side. Besides, it was determined that physical education teachers stated that moral values were more important in sports tournaments held between schools and provinces, and that both material and moral values were an inseparable whole.

VALUE ORIENTATIONS OF YOUTH

ВРЕДНОСНЕ ОРИЈЕНТАЦИЈЕ МЛАДИХ

Author(s): Vesna S. Trifunović / Language(s): Serbian / Issue: 7/2022

Keywords: values; value orientations; social changes; youth; student youth;

Values, as general and permanent orientations, indicate the goals that individuals (and groups) consider desirable and strive to achieve - they outline and direct a person's life and his actions in society. The continuity of the duration of certain social structures creates favorable conditions for the acceptance of a system of values and value orientations suitable to them and leads to their reproduction. In the conditions where numerous changes transform the "nature" of society, the system of values and value orientations of members of society, including youth, also changes. In debates about values, the prevailing opinion today is that societies are going through the so-called crisis of values, conditioned by systemic changes (transition, neoliberalism, globalization, digitalization), as well as that young people are in a somewhat of a crisis of values: certain values and orientations become more emphasized than others, which leads to a change in value priorities. The subject of this paper are the value orientations of youth, primarily student youth in contemporary Serbian society. The aim of the work is to determine the spread of value orientations characterized by focus on 1) individual goals and 2) social goals within the student population. The basic assumption is that values aimed at social goals are more widespread among students. The paper presents the results of a micro-research that included students of bachelor and master academic studies at the Faculty of Education in Jagodina. The descriptive-analytical method and surveying technique were used in the work.

LEGAL DEFINITION OF MARKET VALUE IN THEORY AND PRACTICE OF PROPERTY VALUATION IN POLAND

DEFINICJA PRAWNA WARTOŚCI RYNKOWEJ W TEORII I PRAKTYCE WYCENY NIERUCHOMOŚCI W POLSCE

Author(s): Sabina Źróbek,Małgorzata Renigier-Biłozor,Marek Walacik / Language(s): Polish / Issue: 91/2022

Keywords: real estate; valuation methods; market value; legal acts; property valuer; valuation standards

The authors of this paper emphasize the need for an in-depth analysis of the definition of property market value. In Polish law methods of property valuation is regulated predominantly by the Act on real estate management, the Regulation of the Council of Ministers on real estate valuation and preparation of a valuation report, and by two acts on taxation – on civil law transactions and on tax on personal income. It has been shown that the terms used in these regulations, such as “market value”, “price”, “comparable property”, cause interpretational problems. This is evidenced in court ruling, in the literature of the subject, and in the interpretations published by the organizations of professional property valuers. Based on the research results, as well as on the real estate valuation theory and practice, the authors offer recommendations for changes in the legal regulations, restoration of the original rank of professional real estate valuation standards, and the establishment of a new type of value. The rationale behind these proposals is care for quality of valuation and elimination of at least a limited number of appeals against the estimated market value of the properties.

An Evaluation of Mobile Applications Used to Struggle Violence Against Women from a Public Value Perspective

Kadına Yönelik Şiddetle Mücadelede Kullanılan Mobil Uygulamaların Kamu Değeri Perspektifinden Değerlendirilmesi

Author(s): Tülay Demiralay,Fatma NALBANT / Language(s): Turkish / Issue: 1/2023

Keywords: Violence Against Women; Public Policy; Public Value Management;

In this period of the digital age, mobile applications have become an important tool in the delivery of public services within e-government applications. It is seen that mobile applications have also come to the forefront among public policies aiming to prevent violence against women, and since this is a global and social problem, it is a normal outcome of the digitalization process. These practices have positive results in preventing the risk of violence against women and situations that may pose a threat. In addition, these practices, which are an important part of the public service, create value in every field, not only for those who benefit from the service but also for the whole of society. This value created by the state through its services, legal regulations and other actions is defined as the public value in the literature. In this context, it is aimed to evaluate the success of mobile applications, which are implemented as a public policy tool in the fight against violence against women, to reveal public value. For this purpose, the Women's Support Application (KADES) and ALO 183 Social Support Line projects, developed within the body of the Ministry of Interior and Ministry of Family and Social Policies, which are public policy actors, are discussed from the perspective of public value. As a result of the evaluation of these practices in terms of “result success”, “trust and legitimacy”, “quality of service delivery” and “efficiencyefficiency” criteria used in the measurement of public value in the literature, it has been determined that the relevant policies are the reasons that limit the success of creating public value. The study was concluded by giving recommendations for policy practitioners to act with a value-oriented perspective in policies to combat violence against women.