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200.00 €

Start-ups and Start-up Ecosystems: Theories, Models and Case Studies in the Mediterranean Area

Author(s): / Language(s): English

Mediterranean ecosystems are populated mostly by small family businesses. As a consequence of the central role played by the family in the countries in this area of the world, members of a single family hold the property and deal with the management of companies. This, on the one hand, constitutes strength of these companies, which benefit from high internal cohesion that makes it very resistant to the difficulties; on the other hand, affects their potential for growth and technological innovation, since the human and financial resources of a family are often insufficient to successfully implement a development strategy. Until now, small family businesses have faced internal competition and international in various ways: creating districts to make ‗critical mass‘ and survive the competition exerted by larger companies; specializing in productions that cannot be easily imitated, because highly differentiated (Made in Italy‘); operating in areas protected from foreign competition because they consist of small businesses operating in local markets, with low capital intensity and low added value.The tremendous acceleration of technological development requires these small family businesses to overcome this financial gap, managerial, and know-how that does not allow to exploit their development potential. This need also arises (perhaps especially) for innovative businesses at start up and, in general, for newly established firms. This does not mean that the Mediterranean should imitate the Anglo Saxon model based on big corporations, private equity and efficient capital markets. Quite the contrary. Any attempt to imitate this model would be destined to a resounding failure because inconsistent with the widespread entrepreneurial culture in the Mediterranean countries.The big corporations operating in the Anglo-Saxon world, are facing the fierce competition of startups that introduce innovations that generate discontinuities jeopardizing their business model. The need to standardize processes makes them unwieldy and unsuitable to promote innovation. An obstacle to innovation derives from the need to neutralize the risks typical of radical innovations in product and process. To cope with this problem, they are creating spin offs, through which experience innovations outside (thus neutralizing the risks), and acquiring innovative startups that have already achieved success in the market (and therefore are not very risky).

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11.00 €

Sukcesja stanowisk kierowniczych w organizacjach pozarządowych

Author(s): Janusz Reichel / Language(s): Polish

The problem of succession of managerial positions is one of many issues of strategic importance for each organization. In management theory, one can encounter many works on the process of succession and succession management. There are also guides to advise organizations on how to plan, organize and conduct succession for the benefit of the organization's results and its durability. Analysis of the literature on the subject shows that reflection on succession concerns more often only selected types of organizations. There are works on enterprises (mostly large enterprises) or family businesses due to the special nature of the latter. Attention is also directed to organizations whose results can be easily operationalized and examine their dependence on succession - this applies to, for example, sports organizations. Relatively little attention is devoted to this issue in non-governmental organizations. In the literature of the subject one can find some works on succession in non-governmental organizations, but they still do not give an overall picture of the issue. The literature reviews carried out earlier by other authors indicate the need to learn the phenomenon of succession in non-governmental organizations, with particular emphasis on understanding the processes that accompany the transfer or taking over of managerial positions. The authors, whose work is discussed in this dissertation, suggest to examine a larger number of specific case studies that give a chance to get to know the context of ongoing processes. In this sense, the presented dissertation meets the needs reported in the literature and presents a series of case studies obtained from direct participants of events - most often presidents of the organization. The assumed goal of the research is to understand the succession process in non-governmental organizations and its conditions, and therefore also in its emotional and political dimension. Two initial chapters of the book are the result of literature studies, the first one is devoted to non-governmental organizations and the context of their functioning, and the second one describes the phenomenon of succession itself. The empirical material from interviews and quantitative research is presented analogically in the third and fourth chapter of the work. The study analyzed the pool of case studies with the use of a case study method supplemented by the approach known from the grounded theory, which is also an innovation. The logic of the work required first to collect the empirical material and then to conduct literature studies. In this way, a cross-sectional synthesis was created from a multiple case study, which was not burdened with too much risk of even unintentional contamination of the collected qualitative data by the theory regarding succession in other types of organization. The author decided that in the next stage of the research he will first make a quantitative analysis of statutes of the examined organizations, which concern the functioning of the boards with particular emphasis on the term of office of the authorities. To this end, the author selected a sample of non-governmental organizations having the status of a public benefit organization, which continued their operations at least since 2004. After this analysis, research questions were concretised and computer-assisted interviews were conducted with 75 presidents of the foundations with status of public benefit organization. Both quantitative analyses are included in the fourth chapter of this work. The aim of the work is to examine the course of the succession process and its determinants in non-governmental organizations, with particular emphasis on the context in which this process takes place. Such a general goal is justified by the pioneering nature of the research, as there is no comprehensive work on the subject of succession in non-governmental organizations so far (in Polish literature, the subject is, as yet, almost absent). The basic research of this thematic area therefore seems to be crucial and should avoid the error of automatic transfer of knowledge and solutions developed by the practice and theory for organizations from other sectors. The result of the research helps to create a general picture of the processes of succession (and the conditions in which they take place) in non-governmental organizations and point out main issues and topics that should be taken into account when examining the world of non-governmental organizations in the context of succession processes. The series of recommendations for future research in this area are also the result of the work.

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150.00 €

Technologies of Innovative Management of Organizations. Monograph

Author(s): / Language(s): English

The organization of business on a fundamentally new basis makes it possible to solve a number of important tasks for a competitive enterprise: from reducing unproductive expenditures and using resources on the basis of optimal organization of work to managing the range and pricing of products on the basis of complete, accurate and timely information in a single information system of the enterprise. To achieve maximum efficiency, managers need to overcome not only the stage of ‘managerial stagnation’, but also fundamentally change the philosophy, style and mentality of management, to achieve constant dynamics of improving the basic performance of the enterprise. One of the effective technologies for managing modern organizations isengineering, reengineering and outsourcing of business processes.

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Third International Scientific Conference on Economics and Management - EMAN 2019: How to Cope with Disrupted Times – Selected Papers, Ljubljana, Slovenia - March 28, 2019

Author(s): / Language(s): English

Association of Economists and Managers of the Balkans headquartered in Belgrade – Serbia, Faculty of Management Koper – Koper, Slovenia; DOBA Business School - Maribor, Slovenia; Integrated Business Faculty - Skopje, Macedonia and Faculty of Management - Zajecar, Serbia organized Third International Scientific Conference on Economics and Management: How to Cope with Disrupted Times - EMAN 2019 in Ljubljana on March 28, 2019 at the Hotel M. Third International Scientific Conference on Economics and Management - EMAN – aimed to establish and expand international contacts and co-operation across regions and countries. The main purpose of the conference was to provide scientists an encouraging and stimulating environment in which they may present results of their research to the scientific community and general public. The conference theme was discussed in following sections: 1. Economics, 2. Management, 3. Law, 4. Tourism, 5. Environment, 6. Technology. The aim of this year’s conference has been achieved - bring together the academic community of the Balkans region and other countries and publication of their papers with the purpose of popularization of science and their personal and collective affirmation. The unique program combined presentation of the latest scientific developments in these areas, interactive discussions and other forms of interpersonal exchange of experiences. The conference was opened by Prof. dr Rasto Ovin, Dean of the DOBA Business School – Maribor, Slovenia and a member of the Scientific Committee of the conference; Uroš Mirčević, President of the Association of Economists and Managers of the Balkans and Prof. dr Tatjana Horvat representative of the Faculty of Management Koper, University of Primorska, Slovenia. Within publications from EMAN 2019 conference: • 25 double peer reviewed papers have been published in the EMAN 2019 – Economics & Management: How to Cope with Disrupted Times - Selected Papers – The 3rd Conference on Economics and Management; • 87 double peer reviewed papers have been published in the EMAN 2019 Conference Proceedings – Economics & Management: How to Cope With Disrupted Times and • 63 abstracts have been published in the EMAN 2019 Book of Abstracts. EMAN 2019 publications have more than 1.000 pages. Besides that, 57 papers have been accepted for publication in the conference partner journals. Participation in the conference took 373 researchers with the paper representing: • 24 different countries, • 93 different universities, • 63 eminent faculties, • 10 scientific institutes, • 27 colleges, • Various ministries, local governments, public and private enterprises, multinational companies, associations, etc.

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10.00 €

Model oczekiwanych strat kredytowych w sprawozdawczości finansowej. Koncepcja i zastosowanie

Author(s): Maciej Frendzel / Language(s): Polish

International Financial Reporting Standard 9 "Financial Instruments" introduced a new model for determination of write-downs for financial assets and for recognition of provisions for financial guarantees and loan commitments, known as the expected credit loss model (ECL model). The new solution takes into account not only the occurrence of default and identified credit losses, but also the entity's expectations regarding future credit losses, along with changes in the financial situation of contractors and macroeconomic factors. The book addresses those issues, mainly discussing conceptual premises of expected credit loss model, its consistence with concept of credit risk, and its application to different items and transactions. In the book there presented also the results of research referring to the impact of ECL model on companies listed on Warsaw Stock Exchange in 2018.

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Счетоводство и дигитализация

Author(s): / Language(s): Bulgarian

The collection of scientific reports "Accounting and digitization" was issued with funds under the project NP-4-2020 "Research of the possibilities for applying an electronic state examination for the specialty "Accounting and Control", Bachelor's Degree, distance learning, organized by the departments "Accounting and Analysis" and "Financial Control" of the University of National and World Economy, Sofia, Bulgaria. The collection of scientific reports contains two parts – part one Plenary reports and part two Reports of the participants in the round table. The plenary reports are presented at the round table held on 14 December 2020 in the Large Conference Hall of the University of National and World Economy and online in the Teams platform.

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10.00 €

Pomiar i komunikowanie wartości ekonomicznej operacyjnego majątku trwałego w systemie rachunkowości – ujęcie teoretyczne, studia przypadków, model

Author(s): Marcin Michalak / Language(s): Polish

The monography explains the essence and significance of the "economic value" measure against the background of the strategic enterprise value management process in the sphere of investing in operating fixed assets (OFA), as well as the role of the accounting system in ensuring the effective and efficient implementation of this process, including communication of information on the economic value of the analyzed group of assets for the purposes of management and financial reporting. Economic value integrates several problem dimensions undertaken in the study. As a measure reflecting the overarching goal of the entity, it integrates: 1) the goals of investors and the goals of managers, 2) subsystems of management and financial accounting, as well as the process of investing in OFA with the process of enterprise’s value creation. This meets the demand for a managerial approach and value orientation in modern financial reporting. The monography presents a broad theoretical analysis of the subject matter, supported by the results of literature research and the author's own empirical research, including two case studies. The above-mentioned approaches were used in the last part of the monography to formulate assumptions and develop an accounting system model oriented to measuring and communicating the economic value of OMT, integrating the managerial perspective and the financial reporting perspective. The presented content and proposed model can be used to develop systems for measuring the economic value of OMT in economic practice, including for the purposes of measuring the impairment of fixed assets according to the National Accounting Standard No. 4 and the International Accounting Standard No. 36 (IAS 36).

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5.00 €

E-biznes

Author(s): Tomasz Bober / Language(s): Polish

W swej pracy autor wyczerpująco przedstawia istotę e-biznesu, jego rodzaje, formy oraz modele. Szczególną uwagę zwraca na rolę promocji w sieci, która pomaga w utrzymaniu przewagi konkurencyjnej. Podjęta przez autora jest niezwykle ważna dla gospodarki i społeczeństwa.Główne atuty książki to: spójna i logiczna konstrukcjawartościowe połączenie rozważań teoretycznych i praktycznych dotyczących e-biznesudobre osadzenie w literaturze przedmiotuciekawe studia przypadkówdr hab. Agnieszka Budziewicz-Guźlecka, prof. US

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METODA I TEHNIKA BENCHMARKINGA PRAVNIH LICA U BOSNI I HERCEGOVINI

Author(s): Božidar Matić,Mirko Puljić,Amra Avdagić,Jasmin Baralija / Language(s): Bosnian

Benchmarking je identificiranje pokazatelja poslovanja najuspješnijih kompanija kao standarda s kojim se porede pokazatelji poslovanja ostalih kompanija. Primjenom benchmarka (standarda) kompanija moţe procijeniti svoju konkurentsku sposobnost i poslovnu i finansijsku perspektivu. Od više vrsta benchmarkinga (strateški, funkcionalni, operativni, benchmarking proizvoda, benchmarking performansi i dr.) mi ćemo paţnju koncentrirati na finansijski benchmarking koji podrazumijeva analizu kljuĉnih finansijskih izvještaja kompanije – bilans stanja i bilans uspjeha i poreĊenje dobijenih pokazatelja s benchmarkom i drugim pokazateljima.

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Съвременни аспекти на вътрешния одит

Author(s): Valeria Dineva / Language(s): Bulgarian

The monograph is an original and up-to-date author's scientific study of the contemporary environment and its impact on internal audit. Based on literature research and best practices are analysed trends, risks and perspectives. As a result, current and promising internal audit focuses are identified, analyzed and defined, namely company culture, cybersecurity and cyberculture, artificial intelligence with its technological and ethical aspects, CSR and the ESG (environmental, social and governance) framework, big data (BIG DATA), human resources and talent management. These focuses broaden the scope of internal audit and at the same time influence audit activities and processes. Models are developed and presented that provide guidance for internal audit in relation to some of the outlined contemporary priority areas.

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Mezinárodní standardy účetního výkaznictví: Studijní text

Author(s): Filip Hampl,Eva Hýblová / Language(s): Czech

The International Financial Reporting Standards (IFRS) are a globally recognised set of accounting rules for the preparation and presentation of financial statements. Their purpose consists in ensuring that financial statements contain quality, transparent and globally comparable information that is relevant to users. For this reason, the importance of IFRS for the preparation of financial statements is steadily growing. The aim of this study text, supplemented by illustrative examples, is to present to readers the basic principles of IFRS and to acquaint them in detail with selected standards, especially regarding recognition and measurement of assets and liabilities and the requirements for the preparation of individual financial statements. In addition, attention is paid to the regulation and harmonisation of financial accounting in the European Union as stipulated in Directive 2013/34/EU of the European Parliament and of the Council. This study is intended not only for students of the Faculty of Economics and Administration of Masaryk University but also for members of the general public interested in getting acquainted with the issues of harmonisation of financial accounting and International Financial Reporting Standards.

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Účetní výkaznictví malých a středních podniků

Author(s): Eva Hýblová / Language(s): Czech

The aims of the publication are to describe and evaluate the current regulations on financial reporting for small and medium-sized entities at the national and international levels. The publication concentrates on the reporting procedures specified in Directive 2013/34/EU of the European Parliament and of the Council. The study assesses whether the Directive objectives have been met, and what the consequences are of the possible choices within recognition and measurement of items of financial statements as well as the proposed simplifications. lt identifies the problems that can occur in relation to the Directive application. lt describes the transposition of the Directive provisions into the national legislation and its changes. The publication is of theoretical nature - it has been created using methods of theoretical research. Practical impact is demonstrated through model examples.

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Výkonnost podniku v kontextu spokojenosti zákazníka, zpětných toků, kvality, inovací a znalostí

Author(s): Alena Klapalová,Petr Suchánek,Radoslav Škapa / Language(s): Czech

The subject of this publication is the research of customer satisfaction and its connection with company performance, quality, innovation and knowledge. The main goal is to analyse the mutual relations of the above factors, including their systematisation on the basis of empirical findings in companies across industries in the Czech Republic. The publication offers a theoretical analysis of the basic relationships of the above factors and discusses them with the results of the analysis of primary data from companies. The purpose is to clarify to what extent connections assumed in the literature are reflected in the Czech environment and how much they influence the subjective and objective performance of companies. Both types of indicators were used in the construction of analytical models revealing that results based on them differ, and that models within the different indicators also differ.

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Metody kauzální analýzy pro měření efektivity podpory prodeje

Author(s): Maria Králová / Language(s): Czech

In recent years, company costs associated with sales promotion activities have continued to rise in developed economies, and yet many studies show that such sales promotion activities are very often unprofitable, and in many cases even result in losses. One cause of this undesirable phenomenon may be inadequate analytical tools. The use of adequate analytical tools would make it possible to reliably measure the effectiveness of sales promotion activities. The most commonly used analytical tools often lead to biases when estimating the effectiveness of promotion activities. This is because these tools cannot take into account a number of factors which change over time, may affect the profitability indicators and are not controlled when performing an estimate with the common tools. The monograph offers a new approach to estimating baseline sales (i.e. the sales figures as they would be if sales promotion activity had not taken place) using causal analysis methods. The suggested approach removes the bias of an estimator resulting from the change of factors over time, while at the same time it is simple enough to be implemented in common business practice. The monograph also presents the methods of causal analysis. Despite their potential to successfully deal with a number of marketing and management issues, these methods are rarely used, either in the Czech Republic or internationally.

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Altyapı Proje Finansmanında Risk Paylaşımı

Author(s): Fikri Kaplan / Language(s): Turkish

The subject of this study is to try to model the Islamic project finance methods of the long-term operation and financing processes of capital-intensive infrastructure projects. The research aims to create a model with mathematical formulas by considering the project finances on a measurable level. What is the project financing that can be considered under this roof while we are preparing our research, which is the framework of infrastructure projects? Can infrastructure projects be carried out in accordance with Islamic rules? Can Islamic infrastructure finance models be modeled mathematically? A core analysis was made by going from general concepts to specific by trying to find answers to their questions. While the research is evaluated from an Islamic perspective, it is emphasized that the two most common problems in long-term project finances are preventing the formation of the concepts of interest and obscurity (garar). In this direction, the research was evaluated in two ways and the project contract was evaluated separately for the parties. Stochastic processes formulated with the concept of measurability were theoremized with the data obtained and mathematical proofs of these theorems were made in the research. As we move towards the conclusion of the research, our model, which is also proved by theorems, and the maximum number of possibilities that we can use our formulas are evaluated, the necessary analysis is made within the framework of these possibilities, numerical examples are given, and all variations are explained by schematizing under appropriate conditions. The fact that the real data required by the mathematical method we used in our research is not published openly and surveys etc. Since it is not possible to obtain the data in different ways, some projections were made with the limited data obtained, and the data set was tried to be expanded. In our research, it has been determined that infrastructure projects are mathematically measurable, verifiable and modelable by using risk sharing methods in accordance with Islamic rules.

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Geli̇r Çeşi̇tlendi̇rmesi̇ni̇n Bankalarin Ri̇sk ve Performansi Üzeri̇ndeki̇ Etki̇leri̇

Author(s): Burcu BUYURAN / Language(s): Turkish

Bankalar finans piyasalarının en temel aracı kurumlarıdır. Bankaların uzun vadeli istikrarı aynı zamanda ekonominin istikrarı açısından da önem taşımaktadır. Bankaların uzun vadeli istikrarının temel anahtarı, yüksek performans düşük riskle çalışabilmesidir. Performansın temel göstergelerinden karlılığı artırmak ve riski minimize edebilmek ise uzun vadeli müşteri ilişkilerine bağlıdır. Bankalar ekonomide tasarrufların yatırımlara dönüşümünü sağlayarak piyasada etkinlik ve verimliliği artırmakta ve ekonomide sürdürülebilir büyümeye katkı sağlamaktadır. Bankalar bu katkıları gerçekleştirirken performansını artırmak amacı ile yaptıkları faaliyetlerde doğası gereği, sistematik ve sistematik olmayan bankacılık faaliyetlerine özgü çeşitli risklere de maruz kalmaktadırlar. Bu risklerden korunmak adına faaliyetlerini tek bir yönlü değil çok yönlü elde etmeye böylelikle çeşitlendirmenin olumlu etkilerinden faydalanmaya çalışmaktadırlar. Bankaların çeşitlendirme ile kazançlarını artırma çabası hem performans artışı sağlamak hem de ürün çeşitliliği ile müşteri bağlılığı ile sürdürülebilir karlılık elde etme amacını gütmektedir. Bankalar gelir çeşitlendirmesi ile ürünlerini çeşitlendirebilecek böylece performanslarını artırırken risklerini minimize edebileceklerdir. Gelir çeşitlendirmesinin en önemli boyutu faiz dışı gelirdir. Faiz dışı gelirler (bankalar, EFT, çek ve senet, yatırım, krediler, kredi kartı, internet, döviz işlemleri, kiralık kasa kiralama, sermaye piyasası ve türev işlemler, vb.), bankacılık hizmetlerinden elde edilen kazanç ve hizmetlerdir. Bankalar faiz gelirlerinin yanısıra faiz dışı gelirler ile müşteri bağlılığını ve karlılık ve finansal performansını yükseltmektedir. Bu kapsamda bu çalışmanın temel amacı; gelir çeşitlendirmesinin Türkiye’de faaliyet gösteren bankaların performansına ve riskine olan etkisinin incelenmesidir. Bu kapsamda Türkiye’de faaliyet gösteren 27 mevduat bankasının 2005/Q1-2019/Q3 arası üçer aylık verileri kullanılarak eşbütünleşme testi yapılmış ve katsayı tahmincileri kullanılarak panel veri analizi yapılmıştır. Yapılan analizler sonucunda gelir çeşitlendirmesi ile banka performansı ve risk ayarlı banka performansları arasında olumlu bir ilişki tespit edilmiştir. Faiz dışı gelir çeşitlendirmesinin iflas riskini azalttığı tespit edilmiştir. Kredi riski ve bankacılık riskleri ile gelir çeşitlendirme arasında ise anlamlı bir ilişki tespit edilmemiştir. Çalışma toplam beş bölümden oluşmaktadır. Giriş bölümünde çalışmanın konusu ve problemi, araştırmanın amacı ve önemi, araştırma yöntemi ifade edilmiştir. Ayrıca araştırmanın sayıltıları ve belirlenen hipotezleri yazılarak araştırmanın sınırları, temel bazı ifadelerin tanımları ve yine konu ile ilgili yapılan literatür çalışmaları hakkında bilgi verilmiştir. Kavramsal çerçevenin oluştuğu birinci bölümde bankacılık kavramı, ikinci bölümde çeşitlendirme ve risk kavramı ile ilgili temel bilgiler verilerek yerli ve yabancı literatüre ilişkin yayınlar detaylı olarak incelenmiştir. Üçüncü ekonometrik yöntemler veri ve değişkenler hakkında ayrıntılı bilgilere yer verilmiştir. Dördüncü bölümde analiz sonucu elde edilen istatistiki ve ekonometrik çıktılar sunulmuştur. Sonuç ve öneriler bölümünde ise ekonometrik yöntemler ile bulunan analiz çıktıları değerlendirilerek çalışmanın sonucu verilmiştir.

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Güçlü Yönleri̇yle Katilim Bankaciliği

Author(s): Muhammed Hadin Öner / Language(s): Turkish

Islamic finance, with its asset and risk sharing construction, is seen as having more powerful structure than interest banking in terms of both reducing systematic risks and having a strong communication with financial sector and real economy. As these banks, called as financial banking in Turkey, are working according to financial model based on real trade; turning these banks into more resistant than deposit banks against various shocks of banking sector, the most of which is non-performing loans. These non-performing loans are the most important sign of the qualities of banks. The increase of non-performing loans effect banks and real sector negatively. This book is analyzing the factors that specify non-performing loans of participation banks according to Islamic participles and determine the differences with deposit banks. Also this book, the indicative of non-performing loan that is the most important problem in participation banks which are active in Islamic finance field are identified and put a new complexion on the sector.

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Muhasebe Uygulamalarinda Teknoloji̇k Entegrasyon

Author(s): / Language(s): Turkish

In recent years, with the rapid change in internet technology and the rapid increase in the rate of use of internet-based applications, it has led to significant developments both in terms of society and businesses. Particularly, the interest of global investors in international capital markets and the fact that financial and non-financial information needed by users who will invest in these markets are accurate, realistic, timely, fast and easily accessible, necessitated the use of information technologies (IT). IT has changed the way in which financial and non-financial information is recorded, stored, processed, disseminated and reported so that businesses can survive and adapt to these developments by capturing the global competitive advantage. With the widespread use of developments in information technologies in businesses, it is necessary to examine the benefits of technological developments on accounting information systems (MBS). Cloud accounting, blockchain and big data from new IT used in MBSs; Compared to normal electronic methods, it offers the advantages of recording, data storage, processing and reporting in different ways. Therefore, integrating information technologies into accounting practices is of great importance for accounting practitioners.

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12.00 €

Prognozowanie upadłości przedsiębiorstw

Author(s): Paweł Kopczyński / Language(s): Polish

Continuous access to information is essential for the effective management of modern enterprises. Information is essential for making decisions, monitoring the company's situation and analyzing the financial standing of its stakeholders. Information on the risk of bankruptcy is of particular importance for managers. A company that wants to stay viable should analyze its financial situation in order to identify emerging problems and solve them as quickly as possible. Therefore, any risk of bankruptcy should be immediately identified in order to take effective preventive measures. Knowledge of bankruptcy forecasting methods facilitates company management and allows investors to avoid losses associated with reckless investment in shares of financially distressed companies. This publication is devoted to the issue of bankruptcy. It shows the origin and development of bankruptcy law and explains the meaning of various terms such as bankruptcy, failure and other related concepts. Corporate failure prediction requires a constant supply of information, which is why the importance and role of enterprise information systems is also discussed. Their effective functioning will facilitate the identification of bankruptcy risk (which will enable restructuring actions to be taken), but will not eliminate it completely. The survival of the company and its market success depends on the effectiveness of the company's management reorganization processes. Crises affecting the business may force a reorganization that managers often do not want to undertake. Deep changes introduced in a company can have far reaching consequences which can often result in the company’s market success or failure, depending on how such changes are carried out. This publication provides a detailed discussion of financial ratios that can be used to predict corporate failure. It shows the development of modern bankruptcy forecasting methods, such as: multiple linear discriminant analysis (MLDA), as well as their effectiveness. Forecasting models that can be used in business practice are presented. The model of multiple linear discriminant analysis developed by the author, who hopes that it will be used by entrepreneurs, is also shown. The utilization of such methods to assess the risk of bankruptcy does not require advanced skills from the user. It comes down to a few simple calculations, and can contribute to a significant improvement in the company management process, helping to further streamline the company’s management process.

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Изследване на ефектите от влизането в сила на новите международни стандарти за финансово отчитане - 9 финансови инструменти и 17 застрахователни договори върху финансовата стабилност и ликвидност на застрахователите в България

Author(s): Mariana Petrova Mihaylova,Atanaska Filipova-Slancheva,Nikolina Nikolova,Marionela Stoilkova,Velichka Velkova / Language(s): Bulgarian

The collective monograph "Study of the effects of the entry into force of the new international financial reporting standards – 9 Financial instruments and 17 Insurance contracts on the financial stability and liquidity of insurers in Bulgaria" is the result of a research project funded by the University of National and World Economy - Sofia, Bulgaria. The topic of the academic project is new for the research activity both for the UNWE-Sofia and for the professional community in the field of the insurance industry. The relevance of this topic stems from the adoption of International Financial Reporting Standard (IFRS) 9 Financial Instruments and IFRS 17 Insurance Contracts by the International Accounting Standards Board (IASB). The adoption of the new standards comes after many years of expert work, public discussion and approval of basic problem questions. The main objective of the monographic work is the definition of variability of the effects of the entry into force of the new IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts for insurers in Bulgaria and the potential risks for their financial stability and solvency, respectively liquidity. Subject of the study is the applicable accounting legislation, including IFRS, the applicable legislation in the field of insurance, the practices of the leading insurers in Bulgaria, the applicable regulatory requirements, the results of the reviews of the insurers' balance sheets. The applied methodology includes various approaches, such as systemic, historical, structural and legislative, so that, based on observation, comparative, static and dynamic analysis, the objectives of the project can be achieved. These methods were also applied to the reviewed literature, the statistical information used, the empirical research carried out, the author's opinions, conclusions and results. The main scientific results can be summarized in the following several areas: researched are the new principles, approaches and resulting methodologies and models for accounting recognition, evaluation and presentation of financial assets and insurance contracts; studied are the amendments in the insurance regulatory framework at the EU level and, respectively, at Bulgarian level resulting from the requirements of the new IFRS applicable to insurers; presented are the adaptation possibilities and the new accounting policies development of insurers for the initial application of IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts; seven scientific articles and reports on the topic of scientific research have been published.

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