CEEOL - Browse Subjects Result

We kindly inform you that, as long as the subject affiliation of our 300.000+ articles is in progress, you might get unsufficient or no results on your third level or second level search. In this case, please broaden your search criteria.

Nowoczesne zarządzanie w administracji publicznej

Author(s): Malwina Kostrzewska-Obertaniec / Language(s): Polish Issue: 8/2018

Celem niniejszego artykułu jest próba zbadania i znalezienia najlepszego modelu zarządzania w polskiej administracji publicznej.Badania były poświęcone satysfakcji klientów i pracowników Urzędu Miasta Krakowa. Zostały przeprowadzone w dziewiętnastu punktach obsługi jedenastu wydziałów Urzędu Miasta Krakowa. Ilość wypełnionych ankiet wynosi osiemset trzydzieści, składała się z dziesięciu pytań zamkniętych, czterech otwartych i sześciu pytań znajdujących się w metryczce. Średni czas trwania jednego badania to sześć minut. Ogółem badania trwały dwa tygodnie.Wyniki wskazały na nieznaczne różnice w ocenie u badanych pracowników i klientów. Urząd postrzegany jest dobrze przez dwie grupy uczestniczące w ankiecie, lecz klienci oceniają badane aspekty wyżej niż pracownicy.Badanie ukazuje, że środowisko wewnętrzne danej organizacji potrzebuje sprawnego zarządzania i ciągłego motywowania do tego, aby wysoko oceniać organizację w której pracują urzędnicy. Klienci usatysfakcjonowani są zachodzącymi zmianami w administracji państwowej.

More...

Roles and Responsibilities of Audit Committees in Public Finance Sector

Author(s): Elżbieta Izabela Szczepankiewicz / Language(s): English Issue: 1.2/2018

The rules governing the functioning of audit committees are one of the main topics in the discussion on public governance. Efficient and effective functioning of audit committees is seen as an opportunity to improve supervision quality in the public sector. In the public finance sector regulations have introduced audit committees to public administrations in many European countries. A discussion on extending the scope of responsibilities and competencies of audit committees in the public finance sector has continued all over the world. Polish regulations are also moving in that direction. This paper describes the effect of the current legal regulations on establishing audit committees in the public finance sector. The author analysed the roles and responsibilities of audit committees in public finance sector in order to initiate a discussion on the competencies and liability of audit committee members in Poland. Having analysed the Rules of Operation of audit committees as well as other documents the author classified: the main areas of audit committees’ activity in the analysed entities and similarities and differences in the functioning of audit committees in the public finance sector and public-interest entities. The following research methods have been used: critical analysis and deduction with particular reference to source documents and internal regulation of entities, as well as legal acts.

More...

Analiza struktury majątkowo-kapitałowej rodzinnej firmy na przykładzie spółki Forte SA w kontekście budowania przewagi konkurencyjnej

Author(s): Justyna Biernacka,Izabela Podobas,Agnieszka Rola-Jarzębowska / Language(s): Polish Issue: 7.3/2018

In Poland, but probably also abroad, it is difficult to find a person who would not know the Forte brand. The family company established in 1992 is one of the largest furniture manufacturers in Poland, and as much as 82% of the company’s production is exported. Its owner and president, Maciej Formanowicz, claims that the success of the project is determined by the contribution of work in 90%, and the happiness of the remaining 10%. The effects of the managers and employees work can be found in the company’s economic and financial results, which affects competitive advantage of entity. In this paper changes of the major values affecting the economic condition and competitive advantage of the enterprise were analysed. The research has shown the creditworthiness of the entity, which justifies the perception of its strong competitive position on the market.

More...

Bad Debt Relief: an Opportunity or a Threat

Author(s): Renata Wierzbicka / Language(s): English Issue: 12.3/2017

The article discusses legal aspects and conditions of the application procedure to exempt from bad debts, as well as dilemmas of entrepreneurs who are able to use it. The article also deals with the problems related to settlement of overdue liabilities in the tax system in Poland, including EU regulations. The author analyzes both theoretical and practical aspects of the applicable provisions, taking into account the impact of existing regulations on bookkeeping and the principles of documenting cost adjustments.

More...

Financial reporting of intangible assets – evidence on information and communication companies in Czech Republic

Author(s): Olga Malíková,Zdeněk Brabec,Jiří Rozkovec / Language(s): English Issue: 2/2018

Intangible assets are becoming an increasingly important part of companies’ assets. However, their recognition and measurement in financial statements is often complicated and is subject to the requirements of a given accounting regulation. Therefore, the objective of this article is to find out the relationship between the size of a company and the disclosure of intangible assets. To do so, financial statements of companies operating in the field of information and communications published between the years 2005 and 2015 are analysed. The established hypotheses are tested using the methods of descriptive statistics, the Chi-Square test of independence and the method of Spearman rank correlation. The results of this research confirm that larger companies publish their financial statements for a longer period than smaller ones. Subsequently, it was found that the structure of publishing companies, as well as companies disclosing intangible assets does not change over time. In addition, it has been concluded that larger companies disclose intangible assets more often than smaller ones. Finally, it was confirmed that the share of intangible assets to fixed assets is higher in larger companies.

More...

The main transition management issues and the effects of environmental accounting on financial performance – with focus on cement industry

Author(s): Csaba Fogarassy,Éva Neubauer,Hasan Mansur,Anita Tangl,Judit Oláh,József Popp / Language(s): English Issue: 31/2018

This article highlights the importance of Environmental Accounting (EA) on financial performance and the extent of its application in cement industry companies in the light of de-carbonization goals. We defined key performance indicators of EA which are ready to be turned from unsustainable to sustainable circular operation. We have categorized them from our proposed sustainable Business Model Canvas into a transition matrix and weighted them by a circular benchmarking model connected to a circularity spiral. We have found, the direct encouragement of Environmental Provisions (EPs), and the standardization of EA within the International Financial Reporting Standards would be beneficial as EA is able to refer to and re-evaluate sustainability gaps in financial language. The main results of the research, that EA occurs at the corporate strategy level, but its application does not really depend on social needs and the sectoral circumstances of the company. Its usage also can be determined by the relationship between the socially negative external marginal costs and the production structure of the firm. EA can reflect positively on the profitability of industrial companies, provided that legislation is available to stimulate companies to take the environmental cost into consideration. Research findings have shown that the dominant factor in government intervention, so in government regulation, is to accelerate the internalization of externalities towards more cost-effective solutions.

More...

Indicators for assessing the financial condition and municipality management

Author(s): Jarmila Šebestová,Ingrid Majerová,Irena Szarowská / Language(s): English Issue: 31/2018

The aim of the article is to create a set of indicators for assessing financial stability and municipality management. Local governments in the Czech Republic are fully financially responsible for their budget and management. Financial stability of municipalities is a crucial condition for long-term sustainable development as disproportionate debt can generate risks for providing public services and their standard functioning. The Ministry of Finance defined a set of financial indicators (SIMU system) which could be used for financial stability evaluation, but only two of them are obligatory (a share of liabilities to total assets in percentage, and the current ratio). Indisputable advantage is its standard form of financial evaluation for all municipalities and relatively simple method of calculation based on delivered data. Main disadvantage can be seen in the fact that the municipality receives feedback only for two indicators, which have a recommended value. The municipality does not get a clear idea of the state of its cash position and this approach is not taking into account short-term and long-term indebtedness as well as the size of the municipality. That is why a new methodology based on three groups of indicators (budgetary management, indebtedness and liquidity) was developed and tested. The article presents results about local governments in the Moravian-Silesian region. The methodology increases transparency in the municipality management and supports citizen´s engagement into public matters through standardized approach to each municipality based on seventeen ratios.

More...

Побудова ефективних систем економічного контролю в житлово-комунальному господарстві в умовах трансформації загальних принципів управління в галузі

Author(s): Oleksandr Holovchenko,Nataliia Holovchenko / Language(s): Ukrainian Issue: 33/2018

The purpose of this article is to summarize the main goals and tasks of management in the housing sector, to formulate on their basis the modern management principles in researched industry, as well as to identify the influence of general management principles in the housing sector on building effective systems of economic control at the enterprises of the studied sector.In the article the aggregative units of general and special objectives and goals of management in the housing sector are systemized. On the basis of this summarizing, general principles of management in the studied industry that should be at the core of building an effective system of economic control, as a function of management, were formulated. It was also systematized the main factors that influence on the systematic and complex management and should be taken into account when constructing effective systems of economic control in the housing sector, with the goal orientation of such systems in providing control in the interests of consumers of utility services. The article discloses exclusively general principles of management in the housing and communal services aimed at solving management tasks in the conditions of the transformational economy that are equally fair for other branches of the national economy.It was concluded that when using the principles of focus, systematic and complexity to build effective systems of economic control in the housing sector, scientists should apply other than planning-directive, sense. This sense consists on the direction of the management on the needs of consumers of housing and communal services, with maximum consideration of such factors as: the number and structure of consumers of public services; the volumes of consumption of utilities; the organizational-technological peculiarities of performers of housing and communal services.It has also been proved that the decisive condition for building effective systems of economic control in housing and communal services is the formulation by scientists of special goals and management tasks stemming from sectorial peculiarities, which in turn significantly affect the nature of social and economic relations in the communal sphere.

More...

Національні та міжнародні стандарти обліку для державного сектору: особливості застосування

Author(s): Iryna Smirnova,Nadiya Smirnova / Language(s): Ukrainian Issue: 33/2018

In the sphere of of public finance, the reform of the management system confirms the close linkage of measures aimed at achieving the effective use of budget funds, with the improvement of management methods, methodological and methodological provision of accounting and financial control. Accordingly, for Ukraine, it is useful to borrow a systematic approach in developing the legal and regulatory framework for the budget process, accounting and control. In order to create reliable and objective economic information, the process of introducing common standards of accounting and financial reporting continues in Ukraine and in the world. Therefore, the aim of writing of the article consists in finding out of features of application of requirements of international and national public sector accounting standards. Pre-conditions of reformation of the system of accounting in public sector in the world and in Ukraine were generalized in the article. Table of contents of category «a public sector» was specified. The features of development and input of international public sector accounting standards were investigational. The stages of national standardization of accounting in a public sector were systematized. A comparative analysis of international and national public sector accounting standards was conducted. Directions of improvement of normative base from а accounting and financial reporting in a public sector were offered.Positive results in development of methodology of accounting in a public sector can be attain only as a result of only approaches to accounting. One of the basic stages of reform here are application in practice of already existent national public sector accounting standards and development of new. National public sector accounting standards are based on the conceptual provisions of international standards, which contain common methodological approaches to the assessment and disclosure of information. They are in line with international standards, taking into account socio-economic development of the country and the peculiarities of the national budget legislation. The development of methodological recommendations for the introduction of national public sector accounting standards, as well as the review of regulatory and methodological support for the implementation of budget execution operations, taking into account changes in the accounting system, should be undertaken to continue the implementation of reforms in the public sector and bring it closer to international practice.

More...

Restrukturyzacja finansowa przez przekształcenie formy organizacyjno-prawnej SP ZOZ a poziom zadłużenia sektora ochrony zdrowia

Author(s): Dawid Mateusz Rezler / Language(s): Polish Issue: 7.2/2017

One of the most important elements of social and economic life is health along with its proper protection. The responsibility for organizing the healthcare system lies with the state authorities. Polish health care system over the years has undergone transformation which was the result of intervention by governmental authorities in order to cope with the current problems. Dynamically implemented changes in the functioning of health care negatively affected the entities participating in the system which manifests in an annual increase of total liabilities. The aim of the following article is to verify the effect of the impact of transformations of organizational and legal forms of medical entities from 2004 to 2016 on the state of public health liabilities. For the purposes of this article the following hypothesis was made: The application of transformations of organizational and legal form of SP ZOZ in 2004-2016 in order to improve the financial situation of medical entities fulfilled its role in short-term optimization of their debt in the voivodships which most often used statutory mechanisms. The analysis confirmed the hypothesis that in voivodships where the organizational and legal form of SP ZOZ was transformed into commercial law companies, the sum of public liabilities of the health sector in these voivodships was optimized.

More...

Науково-методичні аспекти прогнозування витрат і планування сталого розвитку агропідприємства

Author(s): Yuriy Kernasyuk / Language(s): Ukrainian Issue: 33/2018

The purpose of the article is the generalization and development of scientific and methodical approaches to forecasting expenditures in combination with planning for sustainable development of an agricultural enterprise based on the use of economic modeling methods, system analysis and intelligent computer technologies. In the modern economy, one of the important aspects of the competitive functioning of agribusiness enterprises on the principles of sustainable development is the effective management of their financial and material resources. Now it is difficult and problematic to achieve high performance results in the management of enterprises without a comprehensive use of economic modeling methods, system analysis and intelligent computer technologies that significantly expand the existing information and analytical support for forecasting costs and the level of profitability of production activities. The article deals with the organization of ensuring the forecasting of expenditures and planning the sustainable development of an agricultural enterprise. The analysis of the current economic state of the development of agrarian enterprises at the regional, zonal and national levels is carried out. The theoretical aspects of defining the definition of "sustainable development" for an agrarian enterprise are generalized. The methodical approaches to forecasting costs and planning sustainable development of an agricultural enterprise, taking into account the influence of the market environment and other factors were substantiated scientifically.It was suggested to use the tool in the Excel spreadsheet editor, which is called the "Scenario Manager" to automate the calculation of the cost forecast. The scenario approach of the forecast of costs based on 5 variants is grounded. An economic model of cost forecasting based on the example of soybean production is developed. The advantage of this is the ability to provide management with a convenient tool for substantiating and making informed decisions taking into account the influence of the market environment, weather and climate, environmental conditions and other factors. The forecasting model allows to take into account a significant number of factors of influence and trends in the development of super complex systems, including agriculture, and also to ensure a higher level of its reliability.

More...

Привабливість підприємницької діяльності в Україні та за її межами: організаційний та податковий аспекти

Author(s): Olena Shelkovnykova,Valeriia Shelkovnykova / Language(s): Ukrainian Issue: 33/2018

A lot of Ukrainian entrepreneurs sooner or later accept and make decisions to open a business outside the country. As the result, the economy development slows down, because the capital works for another country. In addition, budget losses from domestic business projects implementation on the territory of other countries do not provide economic growth and realization urgent expenses our country. The article’s aim is study and analyze the attractiveness of entrepreneurial activity abroad for domestic business and develop on this basis effective proposals to improving the conditions for carrying out activities in Ukraine for our enterprises.In the article are considered the most attractive countries for the conduct entrepreneurial activity at the point of organization view and taxation. During the research, the features of entrepreneurial activity of European countries, and also USA, were analyzed. In the result of analysis we found a country with the most optimal terms of doing business for our businessmen. The comparative analysis of business activity was conducted in Estonia and Ukraine at the questions of opening and management an enterprise, calculation organizations and taxation operating systems. The enterprise positive lines were identified in Ukraine and the circle of unsolved problems was outlined. Suggestions were worked on the base of Estonian experience connected to improvement attractiveness for subjects of domestic business activity. The most significant proposals: ensure the operational realization possibility to use electronic systems by an electronic digital signature; develop effective measures to accelerate the introduction tax on capital withdrawn; simplify accounting and reporting procedures; coordinate and implement the draft law of foreign exchange transactions; ensure the free payments introduction with the world-known payment systems; reduce penalties and ensure the implementation mechanism of priority warning.

More...

Quality of Insolvency Proceedings in Selected Countries – Analysis Focused on Recovery Rates, Costs and Duration

Author(s): Luboš Smrčka,Markéta Arltová,Jaroslav Schönfeld / Language(s): English Issue: 28/2017

The study attempts to define the dependence between how efficient insolvency proceedings are in particular countries (especially from the perspective of the yields for creditors from these proceedings) and the general level of development of the surveyed countries. This level of development is measured by the data of gross domestic product per inhabitant. The afore-mentioned data was selected on the basis of a hypothesis according to which the GDP per inhabitant in particular captures the ability of a given economic system to create wealth, whilst one of the fundamental prerequisites for such an ability is the general level of enforceability of a contract and therefore also the enforceability of a receivable. Insolvency proceedings as a formally demanding process based on legal specialties (usually an insolvency act) are a suitable representative of the requirement of enforceability of law. The yield for the creditor, then, is understood to be a crucial parameter of the insolvency system, for it is a natural gauge of the result of the enforcement process. Five groups of countries were formed for the purposes of comparison – the most developed European states, post-communist European states already included into the European Union, post-communist European states outside the EU, the most developed economies outside Europe and finally also oil-producing Arab states, where wealth is not necessarily proportional to the quality of enforceability of law. With the aid of regression analysis of the data, the work has proved that the quality of the legal environment measured by the efficiency of insolvency processes is truly related to the general efficiency of the economy. It is thus possible to assert on this foundation that, if we exclude states with exceptional mineral wealth, a high level of enforceability of law too is truly imperative in order to acquire wealth.

More...

CHALLENGES FOR THE DEVELOPMENT OF SOCIAL ENTREPRENEURSHIP IN ROMANIA

Author(s): Nicoleta Paina-Racolta / Language(s): English Issue: 27/2018

Social entrepreneurship is a complex phenomenon with various meanings and approaches, its main features being tocreate social value through social innovation, to satisfy diverse social needs at systemic level, from poverty tounemployment, from social exclusion to population aging, and so on. Social entrepreneurship activities areinfluenced by environmental factors that are part of the so-called entrepreneurial ecosystems, and consist ofcomponents whose interdependence and interaction have a major impact on this sector. The purpose of thisexploratory research (the sources used are secondary, which leads to a desk research) is to analyze the challengesfaced by social entrepreneurship in Romania from an evolutionary perspective. The analysis focuses on thelegislative framework and some of the components of the ecosystem of social entrepreneurship.

More...

AUDITAREA FONDURILOR EUROPENE, O MISIUNE BAZATĂ PE PROCEDURI CONVENITE

Author(s): Daniel Petru VÂRTEIU / Language(s): English,Romanian Issue: 3/2017

The integration of Romania in the European Union in 2007 represented the beginning point of the harmonization of the Romanian legislation with the European Union legislation and also the possibility of filing projects in order to attract European funds made available to our country, as a member state. Following the accessing of European projects funding by the project beneficiaries, their auditing is compulsory and it is done by the members of the Chamber of Financial Auditors of Romania, based on agreed-upon procedures, established by the Management Authority or the Intermediate Organism in accordance with ISRS 4400 `Engagements for the execution of agreed-upon procedures regarding financial information. In the auditing missions of European funds, the financial auditor must also respect the fundamental ethical principles presented in the Code of Ethics emmited by the International Federation of Accountants and at the end of the mission the auditor will make a report presenting in detail the aim and the agreed-upon procedures, so that it is intelligible for its users.

More...

Public procurement efficiency in agriculture and forestry in Slovakia

Author(s): Beata Gavurova,David Tucek,Andrea Tkáčová,Jakub Danko / Language(s): English Issue: 30/2018

Agriculture and forestry in Slovakia is a sector that includes the highest number of contract awards in public procurement. The main aim of this article is to identify an influence of selected determinants on public procurement efficiency in agricultural and forestry sector in Slovakia. There are created two basic types of models based on a sample of 291 contracts, which were formed by means of a multiple linear regression in program R. The first model examines an influence of variables on public procurement savings that is defined as a rate of the final and probable price of the contract. This model confirms a positive influence of a number of offers on savings’ formation, where each next offer increases saving of approximately 8.816 %. On the other hand, a subcontractor’s presence reduces saving by 19.9 %. The second model examines and influence of variables on a number of offers in public procurement. The number of offers in a given sector positively influences a public competition, while there is usually of three offers more than in the negotiating process. However, the number of offers decreases when a contract is financing from the EU funds and when contract specifies a criterion of quality.

More...

The Analysis of Efficiency of Managing Inventories in Trade in Serbia

Author(s): Radojko Lukić / Language(s): English Issue: 2/2015

The efficient management of inventory performance in trade is very important. Ultimately, it is reflected on overall performance of trade. In order to measure efficiency of inventory management the gross margin return on inventory investment is used to a great extent. With the application of the DuPont system of analysis and statistical analysis, this paper researches the dynamics of gross margin return on inventory investment rate in trade in Serbia (on the example of five major trading companies) for the 2008-2012 period. With a view to thoroughly analyse the given issue, the dynamics of net income (net profit) return on inventory investments rate in trade in Serbia for the 2002-2012 period is also analysed. The obtained results of research show that the performance of inventories in trade in Serbia are at the lower level compared to other countries, especially developed market economies. So as to improve the performance of inventories in trade in Serbia it is, above all, necessary to increase the gross margin return on sales rate, net income return on sales rate, respectively. It can be done with the application of new concepts of cost management, Toyota business principles and modern technology.

More...

Classes in Maximizing Shareholders’ Wealth: Irving Fisher’s Theory of the Economic Organization in Corporate Financial Economics Textbooks

Author(s): Tiago Cardao-Pito / Language(s): English Issue: 4/2017

Corporate financial economic programs are almost universally featured in economics and management degrees and, therefore, are an essential component of the culture-building process for current and future economists and managers. Nevertheless, these programs are not restricted to financial affairs. A survey of contemporary academic textbooks in corporate financial economics shows that these books are based on promoting Irving Fisher’s (1906) specific theory of the organization, which advocates that organizations exist to create wealth for their owners/shareholders. This theory has three key premises. 1) The “correct” equity/stock prices are equal to future cash flows that are payable to the organizations’ owners/shareholders. 2) The purpose of the firm and its managers is to maximize the value of the equity/share prices. c) Hence, their purpose is to maximize the cash flows (wealth) payable to owners/shareholders. None of these premises has been clearly demonstrated empirically. Yet, economic and business schools deliver lectures based on this rhetoric every year to thousands of students who will later hold influential roles in society.

More...

The evolution of the tax burden for EU companies

Author(s): Elisabeth Bustos Contell,Salvador Climent-Serrano,Gregorio Labatut-Serer / Language(s): English Issue: 4/2018

Since its creation, the EU has targeted tax harmonization to protect the single market and avoid capital outflow to regions that have lower tax rates. However, despite repeated attempts, complete convergence has not yet been achieved. Using the effective tax rate, the statutory tax rate, and the absolute difference between these two rates, this study explored the trends of the tax burden in 15 EU member states. The study period of 2006 to 2014 enabled analysis of the tax burden before and after the financial crisis. Analysis was conducted using an econometric model. The results suggest that during periods of economic stability, the tax burden tends to converge. In contrast, during periods of crisis, countries apply their own tax policies to protect themselves from the adverse effects of the crisis.

More...

Corporate Internet Reporting and Firm Performance: Evidence from Malaysia

Author(s): Chai J Sia,Rayenda Brahmana,Gesti Memarista / Language(s): English Issue: 2/2018

Anecdotal evidence showed that the portion of internet users to the population in Malaysia is relatively higher among developing economies. However, there are not many Malaysian listed companies that use the internet as a platform for financial information disclosure. Perhaps, the managers do not believe that there is positive association between internet reporting and firm performance. Therefore, this study aims to examine the impact of corporate internet reporting (CIR) on firm performance for a sample of 583 non-financial listed companies in Malaysia over the year of 2013. We use content analysis to retrieve the internet reporting items and test its validity and reliability before running the regression model. The findings showed that CIR has a significant effect on firm value. This means that more related information that is regularly disclosed on the company’s websites can contribute more value to the firms. Meanwhile, company size does not significantly influence firm value. The firm’s leverage is negative and statistically significant, and the growth brings a positive significant effect to the firm’s value. In addition, in this study, the results support the resource-based view theory and the signaling theory between corporate internet reporting and firm value. The findings of the research suggest that companies should disclose more information through the internet in order to ensure the accessibility of financial information for stakeholders, and this will present a better image and reputation of the company’s best practices in financial performance. CIR will help them to have meaningful investment decisions and persuade them to invest in the company.

More...