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Manipuliacinės kūrybinės apskaitos anatomija ir jos informacijos naudojimas

Author(s): Jonas Mackevičius,Vilius Savickas / Language(s): Lithuanian Issue: 71/2015

In conditions of the global and competitive market, creative accounting when from accounting methods permitted in legislation not those that reveal the real situation of a company but those that show better or worse performance results for certain user groups are being selected.It is wrong to use the term of creative accounting in the context of data manipulation in order to show a better or a worse performance of a company, even with respect to applicable legislation. With the consideration of the capacity of the term ‘creative accounting’, it is important to distinguish two types of creative accounting: positive and manipulative. The aim of the positive creative accounting is to show an equitable and correct view on a company’s financial condition and performance and facilitate the work of accountants to provide a reliable and unvaried information to all of the its users. The aim of manipulative creative accounting is to provide a distorted information about the company's financial condition and performance for certain user groups by using a variety of justifying measures.There are different fields of the application of creative accounting. Of them, most widespread are tangible fixed assets, intangible assets, current assets, equity capital, liability cash flow, income, expense, profit, and tax accounting. It is difficult to reveal inconsistencies with reality for data generated by accounting, because they are carefully concealed. The benefit from using the manipulative creative accounting is usually only temporary, therefore it is important to evaluate in advance the impact of the application of manipulative creative accounting on the future performance which may worsen and also have a negative impact on the company's image.

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Analiza wpływu założeń modelu Gordona na wybór źródeł finansowania rodzinnych spółek akcyjnych w Polsce

Author(s): Aneta Ejsmont / Language(s): Polish Issue: 7.2/2015

A joint-stock company is one among the most complex forms of commercial companies, created to run small, medium-size and big companies. In this article the author shows problems of choosing financing sources between equity and foreign capital which have selected family joint-stock companies. With reference to the above, the aim of the present article is to verify hypothesis that instrument which can simplify the choice made by the researched joint-stock companies between different kinds of own and foreign sources of financing is the Gordon Model, in which we can assume the payment of dividend in the infinity at the constant pace of their growth of the so-called coefficient “q”, i.e. the constant rate of a dividend growth. For this reason, the authoress analyses activity of small, medium-size and big joint-stock companies noticed on the stock exchange. She will also carry out a case study connected to selected family joint-stock companies of production character, which have their register offices in Poland, and which lead economic activity and simultaneously realize serious investments requiring huge financial expenditures coming from own and foreign sources. The research part of this article will be conducted based on issue prospectuses and data from the National Court Registry which include financial reports of two joint- stock companies, i.e. AC from Białystok and Indykpol from Olsztyn.

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NONFINANCIAL PERFORMANCE MEASURES

Author(s): Milka Kabranova Josifova / Language(s): English Issue: 1/2017

Nonfinancial performance measures have attracted significant attention in the managerial accounting literature. The purpose of this essay is to distinguish some of the reasons for growing attention for nonfinancial metrics in the literature and to identify the major characteristics of the nature of nonfinancial performance measures and their implementation. The paper provides brief overview of the literature of performance measures and the emergence of interests for nonfinancial metrics. The paper further identifies the key aspects of nonfinancial performance measures and their implementation, and provides evidence in literature of their practical use in industries. Furthermore, the paper itself presents some of the main benefits and drawbacks in implementing nonfinancial measures for evaluating organizational performance. Finally, the paper provides brief discussion on the possibility and the advantages of combining financial and nonfinancial performance measures in strategic decision-making.

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Leasing Puzzle in Polish Small Firms Listed on the Alternative Market

Author(s): Joanna Jaszczuk,Anna Białek-Jaworska,Krzysztof Opolski,Marek Sylwestrzak,Katarzyna Trzpioła / Language(s): English Issue: 52/2018

In this article, we study the substitution between leasing and bank loans in financing the investment of small companies. The analysis is based on financial information about Polish companies listed on NewConnect, which used financial leasing in the period of 2012–2016. We argue that leasing and bank loans are the substitute in financing the investment of small companies. We estimate the probability of financial leasing and its size using the tobit and logit models. We find that financial leasing and bank loan, for Polish small companies, are complementarity. Our empirical results indicate that financial leasing and bank loans are complementary sources of financing investment in fixed assets. Also the higher the usage of financial leasing, the higher the likelihood that the enterprise is indebted because of long-term bank loan – complementarity.

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Is governance effective in economic growth? Evidence from MSCI countries

Author(s): Hasan Almohammed,İbrahim Halil Ekşi / Language(s): English Issue: 1/2021

The main objective of the research is to study the relationship between governance and economic development in emerging economies. We used MSCI countries as a sample due to their increasing importance. Our research is based on the World Bank data for Worldwide Governance Indicators (WGI) of observed countries from 2002 to 2018. The Principal Component Analysis (PCA) and Generalized Method of Moments (GMM) were applied to identify the relationship between the GDP index as a dependent variable and the WGI as an independent variable and other control variables. The experimental results showed that there was no significant relationship between governance and economic development. On the basis of these findings, it is emphasized that the countries in the sample should give more importance to governance.

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Beş faktör kişilik özellikleri ile iş değerleri ilişkisinin kuşaklar kapsamında analizi

Author(s): Büke Kaleli,Bahar Yalçin / Language(s): Turkish Issue: 1/2021

Personalities and work values of individuals are among the important factors affecting business life. Understanding the differences between generations in work environments is the first step in caring for the values and needs of employees. Since each generation has different characteristics, organizations also have to update their systems according to the expectations and needs of the generations. In this context, the aim of the research is to analyse the relationship between five factor personality traits and work values within the scope of generations; to put forward determining evaluations about the personality traits and work values of the generations in Turkey. In order to obtain the findings of the research, the survey method was applied, Super's Work Values Inventory and Goldberg's Five Factor Personality Inventory were used. The sample of the study consists of 411 people from different occupational groups, Silent Generation, Baby Boomer Generation, Generation X and Y, living in different regions of Turkey. The differences in work values and personality traits between generations were measured by Anova and Post-Hoc tests, and the relationship between work values and personality traits within the scope of generations was measured by correlation analysis. According to the results of the study, it was found that the work values and personality traits of the generations are generally supported by the studies in the literature, and there is a positive but low-level significant relationship between the five factor personality traits and most of the work values within the generations.

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Risk Disclosure and Firm Value: Evidence from the United Kingdom

Author(s): Marta Tache / Language(s): English Issue: 55/2021

The International Accounting Standard Board (IASB) aimed to increase the decision usefulness of firms’ risk disclosures with the 2007 introduction of the International Financial Reporting Stand-ards (IFRS) 7. Specifically, listed firms were mandated to provide information to the market on both their (1) exposure and (2) risk management, which are associated with holding their financial instruments. This study investigates whether IFRS 7 financial instruments and their disclosures are associated with firm valuation. Using data on premiumlisted United Kingdom (UK) companies, for the period 2007–2019, I find evidence that firm value (proxied by Tobin’s Q) is negatively associated with the quantity of IFRS 7 interest and credit risk disclosures. I further find that the market value decreases with the presence of quantitative information tabulated in the disclosures. The findings of this study have important implications for the IASB’s standard-setting process.

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Reorganization Strategy for the Tunisian Central Bank

Author(s): Brahmi Mohsen,Adala Laadjal / Language(s): English Issue: 2/2014

The analysis of monetary policy in Tunisia highlights three main distinct periods with the support of the IMF: the last in 1987 when the country was in deep recession, after 1989 with the gradual privatization plan launched by the government and recently current period in the end of 2012, after revolution, in which the economic and financial balance recorded major shocks remanding back of the ex-period and the rise in arrow of the inflation. This article aims to provide an overview on key reforms Tunisian financial markets from 1989. These reforms have particularly affected the banking system and the implementation of monetary policy based on the interest rate as an instrument controller for the first phase and also the monetary aggregates, M3 mainly, following the evolution of economic conditions to our days 2014. But from the 90's view that the success recorded by the industrialized countries precursors on Inflation Targeting strategy IT and some developing countries as follower, we will demonstrate the inability of the Tunisian Central Bank TCB to pursue this inflation target announce strategy as a primary objective and the main difficulties before its actual realization in the current difficult economic environment.

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Маркетингові інформаційні системи та цифрове моделювання в управлінні процесом виведення на ринок нового товару

Author(s): Vladimir Gamaliy,Anastasiia Minko,Sergiy Romanchuk / Language(s): Ukrainian Issue: 6 (39)/2021

The purpose of the study is to determine the theoretical methods of marketing information and digital systems, as well as the practical application of the digital model of managing the process of launching a new product. The results, in terms of classification, stages, tools, analysis of features and benefits, will identify key aspects of marketing information and digital systems for launching a new product.Today, one of the drivers of market transformation is the development of digital technologies and their implementation in enterprise management processes. The current state of management requires the use of digital modeling methods. Knowledge of the principles and possibilities of modeling, the ability to create, research and apply models in practice are becoming necessary requirements of today. The modeling of new product launch processes has been insufficiently studied. For a detailed study of this topic, theoretical, scientific and methodological approaches to marketing information systems and practical aspects of digital modeling in the process of bringing a new product to market. On the basis of the considered digital systems in the context of management problems the advantages of the decision of administrative problems are revealed, the basic steps of construction and principles of functioning of information systems are defined. On the basis of product life cycle models the theoretical basis of digital systems application is investigated, and with the help of the considered stages of system development and the main advantages of modeling the algorithm of digital model of entering the market of new goods is created and its practical realization is investigated. Special attention should be paid to the classification of information systems by functional feature and level of management and by place in the production cycle when launching a new product on the market. Digitization is becoming more widespread, the use of modern tools in the context of the process of launching a new product helps to control and facilitate the interaction of all stages of this process, thanks to the possibility of improving the quality of products. The detailing of the presented algorithm for different goods and services looks promising.

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Desktop Review of Ifrs Compliance, Disclosure and Relevance of Financial Statements as Perceived by Investors with Regards to their Decision Making

Author(s): Newman Wadesango / Language(s): English Issue: 5/2021

The objective of financial statements as according to the Conceptual Framework is that financial statements are prepared so as to provide useful information for decision making to their users. However, there has been a growing dissatisfaction with financial statements and disclosures particularly shown by investors. The aim of this desktop research is to investigate IFRS compliance, disclosure and relevance of financial statements as perceived by investors with regards to their decision making. The research findings according to literature reviewed showed that investors still perceive financial statements to be useful and relevant in their decision making. There is need for companies to maintain credibility and reliability of financial statements and also ensuring quality disclosures so as to best provide investors with relevant information for decision making.

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Domestic, Foreign Direct Investment and Economic Growth Nexus in Selected African Countries

Author(s): Matthew Gidigbi,Manu Donga / Language(s): English Issue: 5/2021

We assessed the impact of investment on economic growth in Africa because extant studies generated mixed results, with the view that a negative relationship between investment and economic growth is peculiar to developing countries. We used data from the World Bank’s WDIs and selected thirty African countries based on data availability and covering the period of thirty-four years starting from 1980. Pooled Panel Estimated Generalised Least Squares (EGLS) with the Cross-Section Seemingly Unrelated Regression (SUR) weight estimation was estimated. We found that domestic investment contributes 19.36 per cent to economic outputs, while foreign direct investment (FDI) and current account balances contribute 13.21 and 3.61 per cent respectively to economic outputs. We concluded that the investment in general and domestic investment, in particular, is very relevant to the economic growth in the continent, though the impact of the latter is greater by the former by approximately 6 percentage points, which is still very small. We recommend investment promotion strategies to enhance more local participation in investment processes and opportunities. Also, the principle of political stability and peaceful transition should be encouraged; and structural constraints should be effectively managed to enhance absorptive capacity and more foreign direct investment in the continent.

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Muhasebe Eğitiminde Kavram Haritası ve Uzaktan Eğitim Modelinin Akademik Başarı Üzerine Etkisi

Author(s): Bilal Gerekan,Oğuz Yusuf Atasel / Language(s): Turkish Issue: 2/2021

The aim of this study is to determine the effect of concept map and distance education model on academic achievement score in accounting education. The research was carried out for the Accounting1 course, which is the basis of accounting courses. In order to determine the effect of using concept maps on academic achievement, the results of a lesson period that did not use concept maps were compared with the results of a lesson period that was used. In order to determine the effect of the distance education model on academic achievement which is another aim of the research, the results of a lesson period in which the traditional education model was applied and the results of a lesson period in which the distance education model was applied were compared. The research was carried out on 562 students. As a result of the study, it was determined that the use of concept maps had a statistically significant and positive effect on academic achievement. In addition, it was determined that there was an increase in the level of achievement score with the distance education model.

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The Effect of Macroeconomic Factors on Non-Performing Loans: A Time Series Analysis for Turkey

Author(s): Gizem Baş,Mehmet Kara / Language(s): English Issue: 16/2021

With the 2008 Global Crisis, Non-performing loans (NPLs) has dramatically increased in both developed and developing countries. The excessive and uncontrolled increase in NPLs caused serious deterioration in the banking system. Particularly, in the countries, such as Turkey, where the banking system has a quite significant place in financial system, the deterioration in the banking system affects not only financial markets but also the economy in a negative way. In this research paper, the association between exchange rate, interest rate, total loan volume and production (output), which are macroeconomic variables expressed as external factors in the literature, and NPLs is investigated for 2008:01-2017:12 period in Turkey. Unrestricted error correction model (UECM) and boundary test approach with the scope of ARDL analysis developed by Pesaran et al. (2001) is applied as an analysis method. Based on the analysis results, it is found that these macroeconomic variables and NPLs are cointegrated. Moreover, there is an economical and statistically significant relationship between interest rate and total loan volume and NPLs in both long and short term. In other words, it is determined that if interest rate and total loan volume increases, NPLs also move in the same direction.

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A Comparative Analysis of The Efficiency and Total Factor Productivity of Selected Food Processing Companies in Turkey

Author(s): Saeid Hajihassaniasl / Language(s): English Issue: 16/2021

The main purpose of the study is the efficiency and productivity analysis of selected firms that operating in the Turkey food processing industry in 2015-2019 period. In the study, two variables, namely the equity of the firms and the number of paid employees, are used as input, while the net sales values of the firms are used as output. Estimates were made in two stages using the Data Envelopment Analysis method and the Malmquist index approach as a method. The technical efficiency results of the firms in the first stage showed that all firms except one firm operate below the optimal scale. The results of the Malmquist index in the second stage of the study showed that the technical efficiency changes of all firms increased in the examined period, and there was an increase in productivity in all firms except for three firms. However, technological development changes in most of the companies decreased in the period under consideration. According to the results, the decrease in technological change was determined as the important factor causing the decrease in productivity of these companies.

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Vergi İncelemesinin Amaçları ve Bu Amaçlara İlişkin Sorunlar Nelerdir?: Bir Durum Çalışması

Author(s): Mustafa Erkan Üyümez,Ali Osman Yılmaz,Sema Ünlüer / Language(s): Turkish Issue: 16/2021

The objective of this study is to identify the problems related to the objectives of tax inspections in Turkey and to offer solutions for these problems. This study was conducted with a qualitative research method. Research data was obtained through semi-structured interviews with a total of 36 participants, consisting of 8 taxpayers, 11 members of the accounting profession and 17 tax inspectors. The analysis of the research data was conducted in the form of inductive analysis by benefiting from NVivo. The revealed findings are gathered under 5 themes including; guidance and training aspects of tax inspections, full understanding of incomes and expenses, prevention of double registration procedures, reducing the informal economy and no tax inspection for non-investigation purposes. In this context, it has been determined that in order to achieve the objectives of tax inspections, and therefore to ensure the effectiveness and deterrence of tax inspections, it is necessary to create a tax inspections action plan with a holistic approach. In addition, the result of strengthening the independence and objectivity of the Tax Inspection Board and tax inspectors was achieved in order to prevent tax inspections from being carried out for non-audit purposes.

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Social Construction of Institutional Complementation in Cross Sector Collaborations: An Empirical Exploration of a Public Private Partnership Case

Author(s): Moses Onyoin,Christopher H. Bovis / Language(s): English Issue: 2/2021

Despite an increasing adoption of cross sector collaborative models, especially contractual Public Private Partnerships (PPPs), as an important public services delivery modality, PPPs continue to experience serious institutional gaps that challenge the course of their implementation. This paper utilizes the new institutionalism theoretical lens and draws on interview and documentary evidence from a concession-type Infrastructure Public Private Partnership Project to foreground the different mechanisms used to remedy contractual gaps that are, inadvertently, necessarily or strategically, left open by contracting partners due to the lack of sophistication in setting efficient and precise institutions at the contracting phase. The study discerns the primacy of three socially constructed institutions complementation mechanisms including (a) contract renegotiations and amendments, (b) the development of new regulatory guidelines and standards, and (c) the establishment of inclusive coordinating structures. Based on the evidence, the paper argues that when confronted by emergent and unique challenges unanticipated in the elaborate contractual provisions, there still remains viable opportunity through an ongoing, concerted, and in a collective manner for responsible actors to complement initial institutions in a way necessary to overcome challenges and stay the main cause of the partnership. Other implications relating to specific sector structures and sector regulation are highlighted along with insights for future work.

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Hindernisse des Dialogs in Geschäftskommunikation - durch die Linsen des Fremdsprachenunterrichts

Author(s): Réka Kovács / Language(s): German Issue: 2/2021

The paper aims at depicting some of the definitions lying behind the concept “dialogue” along with the factors which facilitate and on the other hand, block the dialogue process. In this respect a greater emphasis is placed on the barriers to dialogue, the presentation of which is rooted in the theoretical considerations of George Kohlrieser and is rendered through the lenses of foreign language teaching.

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Declarația unică aferentă anului 2022

Author(s): Lucian Cernuşca / Language(s): Romanian Issue: 1/2022

The order of the president of the National Agency for Fiscal Administration No. 2127/2021 provides the model, content and instructions for filling in the single tax statement and the social contributions due by natural persons (form 212), by means of which the natural persons earning non-salary incomes finalize their financial situation for 2021 and estimate the incomes and the due social contributions starting with 2022. The form has been updated compared to the previous year, including a series of changes made to the Fiscal Code by the Law No. 296/2020, the Government Ordinance No. 8/2021 and the Emergency Government Ordinance No. 111/2021. The article also comprises a case study which renders the way of filling in the single statement in the case of tax payers finalizing their financial situation for 2021 and presents the data regarding the estimated income tax and the social contributions due for this year.

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Economic models to evaluate energy costs: Are externalities and energy accounting the answer?

Author(s): Les Duckers,Tom Rogers / Language(s): English Issue: 3/2021

Aim: In the context of climate change this paper explores the value of models for evaluating energy costs by considering energy accounting and externalities instead of capitalistic economics. Research methods: We test the hypothesis that the conventional economic model of the energy market can lead to inappropriate choices, and that those choices may be environmentally damaging. We examine energy accounting (energy return on energy investment), embodied energy and the incorporation of external costs as more valuable economic models. Findings: This paper reviews existing economic tools and examines modifications, which, when applied to energy provision or efficiency and conservation of energy applications, may give more accurate information about investment, return and environmental damage. Energy accounting of schemes should be a preliminary requirement for all proposed energy schemes. Externalities are less readily applied, but as the costs associated with renewable energy are becoming competitive in conventional economic terms, they are less valuable than energy accounting. Value of the paper: The paper concludes that a preliminary assessment of a proposed energy scheme should be undertaken using energy accounting and external costs to determine the true energy value. These models could be used to select the best environmental option. Indeed “energy uneconomic” schemes, which cost more energy than they deliver, should be abandoned in order to avoid unnecessary environmental damage. After this process, legislation and fiscal measures such as taxes and incentives could be applied to satisfy social and political imperatives. Examples of energy accounting in insulation and consideration of external costs in a proposed strategy to replace fossil-fuelled electrical generation in Indonesia are included in the paper. Limitations: We have not considered the serious question of finite fossil fuel resources and feel that this would be a profitable line of research.

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KSIĘGI RACHUNKOWE I METRYKALNE PARAFII EWANGELICKICH W ZASOBIE ARCHIWUM RODU FINCK VON FINCKENSTEIN

Author(s): Anna Żeglińska / Language(s): Polish Issue: 116/2021

The article presents the process of record creating (pol. proces aktotwórzy) and the process of archiving (pol. proces archiwizacji) of accounting and registry books created by Evangelical parishes located in the property of the Finck von Finckenstein family. Their analysis expands the knowledge of the chancellery system used in evangelical parishes and explains and justifies the presence of items of church provenance in private archives. The presented research approach allows to see the source value of parish books, enabling the development of regional and more general research, including archival ones.

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