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In recent years the EU institutions have taken up efforts aimed at the simplification of principles regarding keeping the accounts. On 18 December 2008 the European Parliament adopted the resolution covering accounting requirements which refer to small and medium enterprises and mainly microenterprises, following which it decided that the existing EU regulations, in terms of accounting principles, frequently remain quite arduous for small and medium enterprises and especially for microenterprises. As a result of several years lasting efforts on 26 June 2013 the Directive of the European Parliament and the Council No. 2013/34/EU was adopted and implemented in the Polish legislation in the form of enforced and planned amendments to the Accounting Act.
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Concerns about the state of education cannot be left to public authorities and the education system only, but should remain the subject of interest of all socially responsible entities. Banks declare themselves as representing such institutions, which is confirmed, among others, by the foundations they set up. The purpose of this article is to provide an answer to the question whether, to what extent and using what methods the domestic listed bank foundations are operating for the benefit of Polish society education. The applied research methods, which allowed for the defined purpose realization, focused on subject literature studies, a review of legislation in force, an interview and a comparative analysis. The research was conducted in February 2015. The necessary analytical data were mainly collected based on the statutes and obligatory reports – financial and substantive – of the studied foundations covering the period 2011–2013, available on their websites, but also in the course of interviews with employees representing these entities. The performed research confirms a hypothesis that all domestic listed bank foundations get involved in certain operations aimed at public education; however, this is executed to a various extent, by means of diverse methods and for the benefit of different groups of beneficiaries.
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The article presents an analysis of legal regulations referring to bitcoin in Poland and worldwide. At the background of the Polish legislation (currently) bitcoin cannot be referred to as a legal means of payment, since it neither functions as an instrument of money market in the light of the legislation in force, nor represents a currency regarded as legal means of payment. Moreover, none of the public institutions can use it in the legal sense. Bitcoin is also not used in international financial settlements and the legal regulations of other countries are largely varied – from referring to bitcoin as private money to the total ban on using it. Both complex and supranational regulations of all the issues related to bitcoin (detailed regulations and guidelines suggesting businesses the manner of procedures and performing operations using it) are necessary to take advantage of innovation and potential offered by bitcoin in terms of making payments, which can determine the future direction of global money.
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The purpose of this study was to identify the impact of loan loss provisions accounting and of procyclicality of loan loss provisions on the association between the loan growth rate and the capital ratio of big banks in the European Union. To estimate this impact, we apply the two-step robust GMM approach of Blundell, Bond [1998]. The empirical analysis shows that the loan growth rate of banks which tend to smooth their earnings and banks which manage their risk more prudently as well as banks which have loan loss provisions less sensitive to a business cycle is less affected by the capital ratio. We do not find support for the view that loan growth of banks which use loan loss provisions for capital management is less affected by the capital ratio. Our results give empirical support for the macroprudential policy tools which aim to introduce forward looking provisioning, e.g. dynamic provisions or expected loss approach.
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The paper aims at empirical evaluation of the value relevance of impairment provisions reported by commercial banks listed on the Warsaw Stock Exchange over the period 1998–2013. The examined sample covered 18 domestically-based banks and included 206 bank-year observations for the data from separate financial statements and 190 bankyear observations for consolidated ones. The key research method employed is a crosssectional price-deflated linear regression with ordinary least squares estimation. The results of the analysis indicate that impairment provisions reported by the listed banks in Poland are value relevant, and that increases in those provisions are on average priced negatively by equity investors. Moreover, banks’ net earnings decomposed into impairment provisions and the residual component reveal incremental explanatory power over the aggregate numbers; however, this effect fades when book value of equity is included as an additional regressor in valuation models.
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The purpose of this paper is to verify the following thesis: Digital money affects the global monetary system, has an impact on the demand for real money, may cause it to increase or decrease, leading to problems in forecasting the supply volume of real money. Cryptocurrencies are relatively new, developing rapidly thanks to ICT innovations. The extent of digital money is still too small to pose a threat to national monetary systems, but may have a bearing on the demand for real money. Growing popularity of digital currencies due to their characteristics has to be taken under consideration while assessing a future shape of the global monetary system.
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The article addresses activities/programs supporting thermomodernization in buildings. Its purpose is to discuss selected directions of their efficiency improvement. The objective was achieved by following a multicriteria descriptive analysis of the identified activities/programs. The set of analysis criteria, presenting also the desirable directions of efficiency improvement, covers accuracy in defining thermomodernization, guarantee for a continuous inflow of funding throughout the entire duration of an activity/program, a proper definition of support activity/program beneficiaries and cost efficiency of distributing financial support means.
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Market economy mechanisms and stakeholders interests have a direct impact on corporate operations performed in order to construct an image. The presentation of corporate strengths outside, referring to social issues, allows for earning a positive opinion among stakeholders and thus achieving economic and financial success. The main purpose of the article is to analyze the occurring dependences between social responsibility of accounting and a corporate image. The indirect goals refer to the analysis of dependence between social responsibility of accounting and its functions, as well as the essence of social responsibility trend in accounting. The article offers a subject literature review and author’s reflections presented from both scientific and practical perspectives based on the deduction method. Corporate social responsibility remains particularly important in establishing and maintaining the discussed image. Certain possibilities for creating an image by means of CSR are also offered by the socially oriented accounting.
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Innovative on the Polish financial market, equity release type of financial services do not remain neutral in terms of the intergenerational justice principle, which assumes that one generation should not live at the expense of another. The article constitutes a part of the discussion on the sustainable development concept, analyzed from the perspective of multidirectional financial transfers occurring within families. Its major purpose is to present the essence of equity release type services as well as discuss the dilemmas caused by them in the context of the intergenerational justice principle. The analysis and critical review of the subject literature and legislation in force were used in the course of the study. It was indicated that the assessment of financial decisions related to equity release services is of individual and ambiguous nature and also depends on the quality of everyday life financial risk management.
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The concept of sustainable development, based on harmonious coexistence and mutual interactions of three areas (orders): economic, environmental and social is also related to agriculture. Social aspects of sustainable development in agriculture refer to such areas as education, culture, health care and the broadly approached population living standards. One of the indicators for living standards measurement can take the form of income earned by farmers, as the basis for paying social insurance contributions. The purpose of this article is to present the basic dilemmas referring to social insurance of those farmers who do not run a business, at the background of social aspects related to sustainable development concept. The author used the following research methods: analytical and critical approach to the subject literature and legal acts, as well as formal methods including graphical and tabular description.
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The purpose of this article is to present the development potential of the halal food market from the perspective of Polish meat producers whose business activities are based on legal regulations in force regarding the so-called problems of ritual slaughter. The arrangement of the study is subject to this particular objective within which, apart from an introduction and final remarks presenting the author’s conclusions based on the conducted analyses, four major points were distinguished and devoted to: discussing the essence of halal concept, presenting halal economy components and their numerical characteristics, illustrating the state and development determinants of the global halal food market and the characteristics of the relations between Polish meat producers and halal food industry. The present study was based on the author’s analysis and interpretation of the subject literature as well as statistical data referring to the discussed problems.
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The purpose of this article is to present environmental solutions built into the local tax system and the evaluation of local government tax policy from the environmental perspective based on the example of cities with the powiat status in Poland (66 units). The structure of local taxes offers solutions of pro-environmental nature. This, however, refers only to the taxes in the case of which the executive body of local government unit remains the tax authority. The environmental aspect is mostly visible in statutory catalogs of tax exemptions and in determining tax rates, especially regarding motor vehicle tax and, to a lesser extent, also real estate tax and forest tax. Tax policy carried out by the analyzed units should be evaluated in this regard as not particularly active (except for the motor vehicle tax). This partly results from the fact that the stimulating function of taxes remains contrary to their fundamental, i.e. fiscal function.
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Local self-government units establish diverse kinds of organizational units in order to perform their tasks. One of their forms can be represented by commercial companies which, if taken advantage of in the processes of local and regional development, can become a source of numerous benefits for the local community which, however, is also accompanied by various threats. The most important ones are associated with the risk of uncontrolled debt expansion of these companies. Although this is not subject to statutory limitations, still the financial situation of local self-government units can be strongly affected.
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François d’Alançon Croatie: Le défi des frontierès Editions Nevicata, Bruxelles, 2015, 96 str
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Radule Knežević Sloboda i vladavina – Francuska politička teorija od Montesquieua do Derride Politička kultura, Zagreb, 2014, 206 str.
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