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The paper presents accounting concepts and competences set out in secondary education curricula. Innovative digital technologies used in their teaching are reviewed.
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This report attempts to review some issues of concern in the assessment of accounting students’ knowledge and skills at the comprehensive state examination. The opportunities for assessment of students’ knowledge and skills through the use of web-based online tests are the subject to review. The report outlines the advantages and disadvantages of different types of test questions in assessing students’ knowledge and skills. The emphasis is placed on the search for opportunities to achieve an objective assessment of students’ knowledge and skills at the comprehensive state examination in the field of study, through the use of computer tests.
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The aim of this report is to present some guidelines in relation to changes in the way of teaching Financial Accounting in the context of the requirements of the world-renowned organizations such as ACCA and ICAEW with respect to the digital necessities of the present society.
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The scientific report provides guidelines for improving the scientific framework, methodology and organization of the enterprise‘s accounting business analysis – a complex of knowledge, skills and competences. Issues, guidelines and models for analysis of key indicators characterizing internal business processes and performance are explored. A concentric model of accounting business analysis in a balanced system of indicators is proposed. Models and methods for cost analysis, financial strategy and efficiency are presented.
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The report offers approaches, models and methods for improving accounting business analysis of the enterprise. The need to improve the educational content and teaching methods is argued. Possibilities for using non-traditional, active and interactive learning methods in conditions of digitization of the educational process are explored.
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Because near 70% of economic information is created through accounting, whether accounting knowledge and skills are necessary for healthcare managers is somewhat rhetorical. However, it is essential to outline the scope, content and volume of the accounting disciplines necessary to form the knowledge and skills of future health managers. This research aims to assess healthcare managers‘ needs to acquire specific accounting knowledge and skills. The curricula in various bachelor‘s and master‘s programs in the field of management in the healthcare sector are researched, highlighting the disciplines that form accounting competencies and skills. The educational needs for such knowledge and skills among current and former students in master‘s and bachelor‘s programs in health and pharmaceutical management are assessed via survey. The need for accounting knowledge and skills of managers in the healthcare sector is confirmed by the curricula content and the respondents‘ answers.
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With the advent of the digital age, the role of management accounting professionals has changed significantly, shifting its focus from activities related to information gathering, reporting, analysis and interpretation, to creating influence and impact. This, in turn, has had an impact on the range of knowledge, skills and competences that professionals should acquire and develop in order to adapt and achieve successful career development. The report presents the conceptual views and initiatives taken in recent years by the professional body CIMA for the training and career development of management accountants in the digital age, as an adequate response to the key changes in their role and required competencies.
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This paper is dedicated to financial performance evaluation of selected industry of the Czech Republic. Financial performance of the industry or company is a random process, which can be decomposed into the particular indicators. Very important is to find and to quantify main factors which influence financial performance of the industry the most. One of the possible ways is to apply the method of pyramidal decomposition to financial indicators. The aim of this paper is to evaluate financial performance of selected industry in the Czech Republic in the period 2007 to 2015 according to the methods of analysis of deviation and to find main value drivers of this selected industry. Annual data from the period 2007 to 2015 will be used for the analysis. The data for the analysis will be taken from the web site of Ministry of industry and trade of the Czech Republic. Firstly, financial ratios will be determined. Secondly, the method of pyramidal decomposition will be applied to selected financial indicators, such as profitability ratios, liquidity ratios and activity and debt ratios. Analysis of deviation will be then applied to particular financial ratios and dynamic analysis of selected industry financial performance will be performed. Evaluation of selected industry in the Czech Republic according to economic value added indicator will be included in the conclusion of the paper and also value drivers of this industry will be determined in the analyzed period.
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The relevant literature suggests that if, and only if, outsourcing is properly implemented, then it may, but might not, improve cost effectiveness and deliver the necessary quality. In this paper, we present two cases describing the processes and results of outsourcing by public sector bodies in the Czech Republic. Data are based on an in-depth audit delivered by students preparing their master’s degree theses under the supervision of one of authors of this paper. Compared to our previous in-depth audits in Slovakia, we did not find very visible cases of inefficiency connected with in-house versus outsourcing decisions. However, our data confirm that the core problematic service in our public administration conditions is transportation. The ‘habit’ of public bodies having company cars or even in-house drivers is usually a very expensive practice. If such cars and the time capacity of the drivers are underutilised, the costs of taxi services can actually be much cheaper. The data also show that even with only a few competing bidders, public organisations can receive very low-cost offers for cleaning and security services, much below the minimum costs of internal production. Suppliers can achieve this by ‘manipulating’ the labour costs or the costs of the quality of the delivered service.
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The objective of this article is to examine the efficiency of Slovak banks in the time period 2000-2013. Slovak banking system faced serious problems connected with the process of transformation of the Slovak economy. They were manifested by difficulties in obtaining of long-term resources, with keeping of capital adequacy requirements and with the rapid growth of the non-performing loans. Transformation and privatization of large banks led to improvement of financial stability and efficiency of banking sector. As first we used a combination of fixed assets and staff costs as input and net interest margin as output in terms of CCR and BCC-I models. In the next analysis we used the combination of three factors - fixed assets and loan-loss provisions as inputs and volume of credits as output in terms of CCR and BCC-I models. Both cases show that the banks in Slovakia have too many fixed assets and high personnel costs with respect to the measured outputs; to the loans and to the net interest margins.
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Financial accounting is the most important tool for determining the financial position and performance of agricultural business. However, this is increasingly subject to the harmonization process. The first effort to harmonize financial accounting in Europe took place in the 1950s after the signing of the Treaty of Rome, and has been ongoing since then. Harmonization is currently being promoted through EU directives that are changing national legislation. The aim of this contribution is to quantify the impact of important changes (in financial accounting between 2004 and 2017) on the financial position and performance of agricultural business. The impact of the changes was quantified using the average values of a sample of 100 selected entities across the Czech Republic (i.e., joint stock companies, limited liability companies and cooperatives with primary agricultural activity). Average values are presented in the tables so that the effect of the change on the balance sheet and profit can be demonstrated. The data were obtained from the collection of commercial register documents. Important changes (specific for agriculture) have been found: valuation of assets, reporting of preferential limits, depreciation of permanent crops on foreign land and valuation of inventories of own production, reporting a change in their amount.
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In our paper we investigate the factors behind the price development of the capital markets of the Visegrad four countries: the Czech Republic, Hungary, Poland and Slovakia. We compare our results with developed European capital markets, namely Austria, France, Germany and the United Kingdom as well. We run regressions for different market equilibrium models: the standard CAPM by Sharpe (1963), Fama and French (1993 and 1996) three-factor model, Carhart (1997) four-factor model, Pastor-Stambaugh (2003) five-factor model and also Fama and French (2015) five-factor model. We use different sets of factors in order to detect the differences and similarities of these capital markets and to find the market equilibrium models with the highest explaining power. The regressions cover the period of 2005-2018 on a daily basis.
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From a macroeconomic point of view, inputs such as capital, labor and land are at the forefront of the elements that make up any organization. Apart from these, the entrepreneurial spirit stands out as an important motivation. On the other hand, in the globalizing world, branding and commercial partnership are important for the competitiveness and sustainability of companies. This situation becomes increasingly important in terms of macroeconomic crises and competition. In this respect, the global dimension and success of brands necessitate brand mergers and alliances. In this context, brand management gains a corporate and global dimension. In addition, in the globalizing world, especially in developed and industrialized countries, brands tend to acquire the "super brand" feature by merging or forming alliances. An example of this is the merger of brands such as Facebook, Instagram, Messenger, WhatsApp, Oculus VR under the "Meta" brand in the social media field. In the aviation sector, on the other hand, the tendency to establish a "brand alliance" such as a "star alliance" gains importance instead of combining brands under the same company.
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The following questions are answered. 4.1. Which Islamic Financial Instruments Have Been Approved In Malaysia? 4.2. Where Do Malaysia Stand In the Islamic Fintech Landscape? 4.3. Describe The Historical Development of Sukuk In Malaysia And Its Contribution to the Economy 4.4. Could You Please Provide Details About Takaful Insurance In Malaysia? 4.5. What is the Status of Islamic Finance and Banking Education In Malaysia? 4.6. What Level is the Contribution of Islamic Finance Instruments Used In Malaysia to the Country’s Economy
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The aim of the paper is to verify whether there is an increase in the amount of investment costs in regional development projects between the time of decision and completion of implementation. This assumption was not confirmed in the evaluated set of 911 projects implemented with the support from the Regional Operational Programme South-East in 2008-2015 in the South Moravian Region and the Vysočina Region. The average difference in investment costs is -3.7%, it means decrease of the investment costs. In terms of the identification of causes, only a slight dependence on the length of implementation was documented. Dependence on investment volume for projects up to CZK 100.0 million was not confirmed. The largest increase in investment costs was documented for projects implemented by the private sector (average increase in investment costs by 17%). A likely cause is the effort of the private sector to maximize the use of subsidies.
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Ar-Ge ve inovasyon yeni bir ürün oluşturan, var olan sonuçları geliştiren ya da mevcut problemler hakkında çözüm üretebilen bilimsel uygulamalardır. Bu uygulamaları harekete geçirmek de küresel dünyada avantaj olarak görülür. Çok fazla üreticinin olması tüketiciler için de çok fazla tercih imkanının olduğunu gösterir ve bu da gerek firmalar gerekse ülkeler arasında rekabeti arttırır. Ar-Ge ve inovasyona yönelmek firmalar için daha yeni, daha farklı ürünleri ve hizmetleri pazara sunma imkanı yaratır. Böylece hem ülkede hem de uluslararası pazarda tüketicinin ilgisini çekecektir.
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The chapter is methodological in nature. It fits into the discourse on the usefulness of economic analysis tools for enterprises, such as various financial ratios. The aim of the chapter is to assess profitability ratios and cash efficiency ratios as synthetic efficiency measures, particularly in terms of their resilience to common practices of creative accounting. The main method used in the chapter is deduction, and the discussed issues are illustrated with numerical examples. The chapter demonstrates that cash efficiency ratios possess characteristics that make them synthetic measures of efficiency, bordering on profitability and financial liquidity. They are more resilient to the practices of creative accounting compared to profitability ratios and, as such, should be used more frequently as primary synthetic efficiency measures, which currently seem to be dominated by profitability ratios. It is advisable to consider a broader reliance on cash efficiency or, at least, parallel reporting of profitability and cash efficiency. In cases where there are different indications in these two areas, greater importance should be attached to cash efficiency than profitability in financial analysis, which can be successfully done, e.g., in the analysis of publicly traded companies.
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Corporate bankruptcy prediction has been addressed in countless studies, while the bankruptcy process is scarcely recognized in the literature. The aim of this study is to develop a holistic concept of the corporate bankruptcy process. The primary method used in the study was a review of the literature, and in the absence of publications simultaneously addressing all the issues included in the aim, a syllogistic inference scheme was adopted. The concept developed assumes that bankruptcy is a process whose shape depends on short-term symptoms of bankruptcy (i.e. profitability and liquidity), long-term symptoms of bankruptcy (i.e. growth and development), possibly acquired cash to counteract these symptoms, as well as the agility and resilience of the company.
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Greening the financial system goes beyond lending and investment standards by considering both the impact of environmental and social risk on the financial system, and the impact of the financial system on environmental and social risks. The greening of the financial system will require going beyond current measures. The accounting and audit standard-setters already require climate-related risks to be considered in the financial statements. As with any other risk, investors need the corresponding information from financial statements and audit reports to make effective investment, voting and other engagement decisions, as well as to fulfil their own net zero commitments. The aim of this paper is to analyse and systematize the key challenges to understand the role of green financing in economic growth, their valuation and financial reporting. The author put forward the provision on the valuation and measurement of green finance in contexts of financial reporting. The article also examines the provision on the existence of causal relationships between the "green" financial and "green" economy and analyzed the challenges of management of green finance in Bulgaria. Further research is needed to mobilise the necessary resources, bridge obvious knowledge gaps and make progress in addressing questions on how to close the green finance gap.
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The article examines the problems posed by changes in the components of the natural factor to social and economic development. They are the focus of researchers from different countries, governments and international organizations, especially after the middle of the 20th century. This is evidenced by the analyses and program documents developed by various organisations, which highlight the main aspects of intervention and regulations in the field of environmental protection with all its components. In this sense, the purpose of the development is to review the concept of sustainable development and the changes that have occurred in it in the direction of focusing attention on the environmentally friendly aspects of economic behavior on a global scale. The object of the research is the concept of sustainable development and the subject – its transformation towards establishing a “green” economy with a view to preventing the loss of biodiversity and ecosystem services.
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