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Establishment and Development of Tax system – Disadvantages and Advantages of Taxes. The Case of Kosovo

Author(s): Balaj Driton,MULAKU-BALAJ Teuta / Language(s): English Issue: 14/2016

This paper aims at assessing the development of the tax system and identifying the disadvantages andadvantages of taxes applied in Kosovo during the 2000 - 2013 periods. This paper also focuses on the Tax Administration,its performance and the assessment of domestic tax revenues. Despite the progress made during this period, it can beconcluded that the tax system of Kosovo has been incomplete and not fully implemented. Its reform is still in the perfectingstage but the professional staff needs to be mobilized and the public administration should be depoliticized in order toovercome the setbacks and obstacles encountered up to this period and to implement it Kosovo wide. The results also showthat the Kosovo Tax System is underpinned by indirect taxes which are the most important source of tax revenues, the ValueAdded Tax in particular.

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Corporate governance and stock liquidity in Australia: A pitch

Author(s): Searat Ali / Language(s): English Issue: 3/2016

This pitch research letter (PRL) applies the pitch template developed by Faff (2015a) to an academic project in corporate finance; that is, corporate governance and market microstructure, namely, stock liquidity for Australian firms. The pitch template is useful in identifying the core elements that form the framework of research project. This PRL encloses a brief background about the pitcher and pitch, followed by a brief commentary on the pitch and personal reflections of the pitcher on the pitch exercise itself.

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Reserves and Accruals According to IAS and Polish Accounting Standards - Similarities and Differences

Author(s): Dorota Kędzior / Language(s): English Issue: 3/2016

The aim of this paper was to show the similarities and differences of reserves and accruals according to international and national accounting standards. The concept, purpose, recognition, measurement and presentation of reserves in the financial statements were presented. Overview of issues was made on the basis of IAS 37, Polish GAAP No. 6 and Polish Accounting Act.

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Accounting: what balance is there between universality and contingency?

Author(s): Alain Burlaud,Geneviève Causse / Language(s): English,Romanian Issue: 149/2018

The question regarding the universal or contingent character of accounting is essential because it determines one of the dimensions of the governance of organizations. The first part of the article shows the dynamics of universality, that is, the movement towards a single set of global standards. The second part shows the limits of this movement and, conversely, the relevance of standards adjusted to local contingencies and coercions. Finally, the third part deals with the balance between these two concepts of accounting.

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Hybrid venture capital fundraising in emerging markets: A pitch

Author(s): Martin Jurek / Language(s): English Issue: 1/2018

This paper applies the pitch template developed by Faff (2017) for an academic research topic in venture capital finance, with a focus on government fundraising in Central and Eastern European countries. The template summarizes the key elements forming the structure of any research proposal. After an introduction and brief commentary on the pitch, a personal reflection on the “process of research in business course” experience is presented.

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The Types of Business Risk Identified in Integrated Reporting

Author(s): Katarzyna Chłapek / Language(s): English Issue: 9/2017

The paper presents the possibilities of identifying business risk on the basis of data disclosed in integrated reporting. The research method used relies on a review of Polish and foreign literatures and an empirical analysis of integrated reports disclosed in 2016. The structure of the reports, which complies with the most recent trends and international recommendations with regard to integrated reporting, confirms the hypothesis put forward in the paper. The concluding remarks aim to arouse interest in research on the possibilities of verifying and assessing disclosures related to the identification of risk in integrated reporting.

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Does Increasing Public Hospital Financial Autonomy Improve Performance? A Study of Indonesian Public Hospitals

Author(s): Fitri HANDAYANI,Hasan Basri,Heru FAHLEVI / Language(s): English Issue: 1/2019

This study aims to compare the financial and non-financial performance of Indonesian public hospitals after gaining improved autonomy in financial management (Badan Layanan umum/ BLU or Public Service Agency/ PSA). It is conducted in two public hospitals in Banda Aceh City, Indonesia. Qualitative research design and descriptive analysis were undertaken to obtain a clearer picture of the performance and to provide a comparative analysis. The financial performance analysis is measured by using trend analysis, profitability ratio, cost recovery rate, and independence level. The non-financial performance analysis is measured by using BOR (Bed Occupancy Ratio), TOI (Turn over Interval), BTO (Bed Turn Over), ALOS (Average Length of Stay), GDR (Gross Death Rate), and NDR (Net Death Rate). The results show divergent results. There is an increase in revenue and profit after gaining BLU, but profitability, cost recovery rate, and independence level have decreased. The ratios of BOR, TOI, and NDR after BLU has changed slightly. However, the BTO, ALOS, and GDR after BLU are far above the criteria/standard of hospital service performance.

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The impact of the application of the accounting concept of fair value on the quality of financial statements of business entities in Bosnia and Herzegovina

Author(s): Selma Novalija Islambegović,Erna Delić / Language(s): English Issue: 1/2019

The primary objective of financial reporting in a modern market economy, which is based on the capital market, is to inform the investor about the financial position of a business entity. The unavoidable theme in modern accounting research is the valuation of balance sheet positions, regardless of the type and size of the business entity whose reports are the subject of this paper. The purpose of the research is to investigate whether there is a connection between the frequency of applying the accounting concept of fair value in valuing property positions and the quality of financial statements for businesses in Bosnia and Herzegovina. The target population comprises 34,515 small, medium and large enterprises registered as joint stock companies and limited liability companies in Bosnia and Herzegovina, and the questionnaire will be used as the empirical research instrument. The questionnaire is structured in parts to obtain knowledge about which technique or approach business entities use when using the fair value for the valuation of balance sheet items, and consequently how it affects the relevance, comprehensibility, comparability and credibility of the information presented in the financial statements.

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Implications of the new accounting model for leases

Author(s): Ivan Čevizović,Ivo Mijoč / Language(s): English Issue: 1/2019

Leases often appear to be a practical way of securing some property. The advantage of the lease is in easy replacement and minimum engagement of resources for the acquisition of assets. However, sometimes leases, depending on their form, also serve to hide the financing through the so-called “off -balance financing”. With the aim of eliminating these unwanted effects, the IASB has adopted a new standard for leases – the International Financial Reporting Standard 16 Leases. The key change from the previous accounting model for lease recognition is in the financial statements of the lessee. This change results in recognition of lease liabilities for practically all forms of leases. Of course, this also entails recording the appropriate property item of asset in the financial statements. The result of this approach is also significantly different recognition of expenses during rental time, as well as the nature of expense. This applies particularly to operating leases that do not recognize assets and liabilities in the existing model, and the effect on profit and loss is based on a linear model that most often corresponds to the contractual lease payment dynamics. In this paper the authors research the implication of the new accounting model for leases on financial statements.

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Theoretical Framework of Research on Functional Fixation in Accounting

Author(s): Dominika Korzeniowska / Language(s): English Issue: 4/2018

Functional fixation has been originally discovered by psychologists and it consists in the difficulty of noticing the possibility of using an object with a known, specific function in a new, unconventional way. It has been studied by behavioural accounting researchers since 1960s who, with time, adopted the idea into accounting and developed a phenomenon called accounting fixation or data fixation. Despite various experiments conducted in the field, the theoretical framework constituting a basis for such research has not yet been summarized in the literature.

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TRADICIONALNI POKAZATELJI ANALIZE FINANCIJSKIH IZVJEŠTAJA U FUNKCIJI UTVRĐIVANJA RAČUNOVODSTVENIH MANIPULACIJA U FINANCIJSKIM IZVJEŠTAJIMA PODUZEĆA

Author(s): Dragan Gabrić / Language(s): Croatian Issue: XXIV/2018

The financial statements of general purpose are important source of information for the business decision-making. The subject of this paper is the research of the impact of accrual-based ratios on the determination of accounting manipulations in the financial statements of companies. The main objective is to identify the accrual-based ratios that contribute to the determination of accounting manipulations in the financial statements and an analysis of the value characteristics of identified accrual-based ratios, due to the level of accounting manipulations in the financial statements of companies in the Federation of BiH. The research was conducted on a sample of companies from the capital market in the Federation of B&H in the period from 2010 to 2014. The collected data were analysed using the descriptive and inferential statistics methods, and obtained results are presented by graphics and tables. The application of parametric and nonparametric statistical tests at a significance level of 5% resulted in determination of the accrual- based ratios that are significantly different between companies with detected accounting manipulations and companies without detected accounting manipulations in the financial statements. Those ratios are Quick ratio (QLiq), Total debt - the number of years (FqSol), Turnover coefficient of total assets (QtTA), Turnover coefficient of current assets (QtCA), Duration of receivables payment (DRec), Earnings per share (EPS) and Earnings and price ratio (E/P). Research results also indicates that companies with detected accounting manipulations in the financial statements have, on average, “weaker” values of accrual-based ratios in relation to companies without detected accounting manipulations in the financial statements. Thus, it is evident that accrual-based ratios have a positive impact on determination of accounting manipulations in the financial statements of the companies.

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Acculturation and accounting standardization strategies

Author(s): Rahma Ben Salem,Salma Damak Ayadi,Rahim Kallal / Language(s): English Issue: 3/2019

Research question: The objective of this research is to develop a reliable and valid measurement scale for releasing new cultural attributes based on social psychology concepts and apply them afterwards in the accounting field. Motivation: Migration to International Accounting Standards Board (IASB) standards by a large and growing number of countries has marked the accounting field. However, this application varies from one country to another due to several environmental factors especially cultural ones. Idea: This paper puts the important issue of cultural differences in applying international financial reporting standards (IFRS) to the forefront and especially the strategies countries may apply when coping with the implementation of these standards within their local environment. Data: We selected a total of 33 items from these scales that match most with the objective of our survey. We also added the two questions posed by Berry to determine its acculturation strategies. We used 874 answers from different countries to our questionnaire. Tools: By taking Berry’s typology, we conducted a cluster analysis to dynamic clouds using SPSS, which allows us to identify the different acculturation strategies used by respondents. Findings: Using Berry's acculturation model borrowed from social psychology and adopting an exploratory perspective based on the interpretive approach, we developed a measurement scale through which we identified five new acculturation attributes: interpersonal communication, work performance, open-mindedness, ethnocentrism and knowledge of the host culture. We also found that the integration strategy is the most widespread strategy in a new cultural context. This finding corresponds to the convergence strategy that is most solicited by countries applying IFRS. Contribution: Our research is an adaptation and extension of the acculturation model across some countries that could function as a “map” of potential interventions to strengthen local application of IFRS.

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The determinants of ownership in M&As: An analysis of the stake purchases in Romanian acquisitions

Author(s): George Marian Aevoae,Roxana Manuela Dicu,Daniela Mardiros / Language(s): English Issue: 3/2019

Research question: The study aims to identify the microeconomic factors that influence the amount of stake purchased in Romanian acquisitions. Motivation: Romania is a market with potential and one of the fastest growing economies in the European Union, facts that make Romanian companies appealing for this type of restructuring transactions. Thus, Romanian companies participate in acquisitions, being either in the position of acquirers or target entities (in most cases). We want to identify if the purchased stake is significantly influenced by a series of factors, related to both involved companies. Idea: The decision of an acquirer to purchase a stake in a target company depends on both its characteristics and the ones of the target company which meets its needs. Considering this assumption, we use a series of financial and nominal factors, which are related to both companies involved (productivity and workforce ratios, the relatedness between the activities of the companies involved and the national/international dimension on the investment), to estimate how much they influence the purchased stake in Romanian acquisitions. Data: The study is based on a sample of 192 acquisitions, with one target and one acquirer, in which a Romanian company was involved, for 2010-2017 period of time. Out of these, 130 transactions are industry acquisitions and 62 transactions are services acquisitions. Tools: We use linear regression, crosstabulation and ANOVA. Findings: Using a mediation model, the results will show that the workforce ratio, the productivity ratio and the relatedness of the two companies have a significantly influence in the percentage purchased in the target company, but the national/international side of the M&As lead to an increase in the capacity of the proposed models to predict the variance of the final investment. The results are controlled for industry and services, considering the NACE main section of the target company. Contribution: Our findings contribute to the scarce literature on Romanian acquisitions, providing information regarding the influence factors on the purchased stake in acquisitions.

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Values, ethics, and attitudes (IES 4) and earnings management from the viewpoint of the financial accountants at Amman Stock Exchange

Author(s): Yaser Saleh Al frijat,Ibrahim Emair Albawwat / Language(s): English Issue: 3/2019

Research Question: Does the effective focus on values, ethics, and attitudes will lead financial accountants to the real management of earnings? Motivation: The authors indicated that the market needs to develop a strategic plan for ethical learning by a committee of financial and academic experts to the formulation of the basic principles in ethics and attitudes to be adopted in profit management. Idea: The objective is to discuss the importance of Professional Ethics, focusing on international education standard IES 4, and its relationship with Earnings Management, a Jordanian study. Data: The study had one group of participants that consisted of financial accountants they work with listed the companies on the Amman stock exchange (ASE) and were randomly selected. Tools: The questionnaire was analyzed using descriptive statistics, ANOVA and correlation analysis. Findings: The results of the study, indicated that the rules of accounting ethics in accordance IES4 have a significant and positive impact on earnings management (EM), whether in which in the applying the ethical behaviour, excellence pursuit, professional manner and social responsibility. Contribution: This research paper is a value-addition to the literature of professional ethics education, at the findings of this paper are expected to be of high importance about ethics value for financial accountants in the emerging economies on how to comply with IES4, to help them on leads to real management of profits.

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Corporate climate change reporting: Evidence from Bangladesh

Author(s): Mofijul Hoq Masum,Nazmul Hassan,Tasnin Jahan / Language(s): English Issue: 3/2019

Research Question: Do the Bangladeshi business entities concern about the extreme climate change vulnerability of the country? How do they deal with the climate change issues in their corporate reporting? Motivation: As per the Climate Change Vulnerability Index 2014, Bangladesh is one of the most vulnerable countries in the world. To cope up this extreme stage not only the government but also all the stakeholders of the country should come forward. This study aims at exploring the attention of business organizations of Bangladesh toward the climate change issues of the country. Idea: When developed nations realized and shared accountability in relation to the adverse effect of climate change, developing nation pay less attention towards the impact of climate change and environmental degradation (Luo et al., 2013; Amran et al., 2014; Jeswani, 2007). Ironically, academic have paid less attention to examine the organizational efforts towards sustainability and environmental safety in the context of developing countries (Kabir & Akinusi, 2012). This research is intended to explore climate change reporting practices in developing countries - Bangladesh. Data: A purposive sampling of 82 companies listed in the Dhaka Stock Exchange (DSE) has been taken based on the year 2016 or 2015-2016. Tools: An un-weighted Climate Change Disclosure Index (CCDI) has been constructed and used to understand the climate change disclosure level practiced by selected companies. Findings: we have found a very poor disclosure levels practiced by the Bangladeshi listed companies as the mean climate change disclosure index (CCDI) is only 3.02 out of the maximum possible score of 28. Surprisingly, heavily polluting industries have very poor climate change disclosure indices compared to the non-polluting industries. Contributions: The study will create awareness to all the stakeholders of the climate change issues so that a holistic approach can be executed not only to accelerate the literatures on climate change but also to ensure sustainability on corporate climate change reporting.

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Socioemotional wealth in gay-owned family businesses: A pitch

Author(s): Ondřej Machek,Aleš Kubíček / Language(s): English Issue: 3/2019

In Western countries, there is a growing number of children raised by same-sex couples. The meaning of the term “family” has been evolving over the past decades, as well as the meaning of “family business”. Based on the Faff’s (2015) pitching research template, we present a pitch related to the postmodern family businesses. The intersection of family business socioemotional wealth perspective and queer studies presents an exciting area of research. The main research question is “Do gay-owned family businesses follow the same set of goals as traditional family firms?” In this letter, we also present our reflections on how the pitching research template can be used to prepare a research project related to this topic.

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Концепцията за контрол при съставяне на консолидирани финансови отчети – минало и настояще

Author(s): Lilyana Kamburova / Language(s): Bulgarian Issue: 2/2019

The concept of control is a key part of the theory and practice of consolidated financial statements and plays a significant role in deciding how to present the financial statements of an economic group of companies. The author consistently analyses the concept of control in consolidated financial statements in the International Accounting Standards. Also, the author reviews the development of the concept of control in the consolidated financial statements in the National Accounting Standards through a comparative analysis of the different historical stages. It can be concluded that in the National Accounting Standards the concept of control and the requirements for preparation of consolidated statements have not been changed significantly over the years, but rather they have been moved from the accounting standards to the Accounting Act and vice versa.

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MUHASEBE MESLEK MENSUPLARININ 3+1 İŞBAŞI EĞİTİMİ MODELİNE YAKLAŞIMLARI: DENİZLİ İLİNDE BİR ALAN ARAŞTIRMASI

Author(s): Emin Yüreklİ,Bülent Arpat,Burak Çamurdan / Language(s): Turkish Issue: 6/2018

3+1 on-the-job training programs have been developed in order to enable the students of Accounting Department of Vocational School to work as more qualified and desired individuals in business life. Accounting professionals and occupational chambers also have important duties in the process of recruiting trainees who should be seen as future representatives of the accounting profession as qualified individuals. The purposes of this research are to examine the approach to accounting profession members' 3+1 on-the-job training program, to put forth expectations and to offer solutions that can meet these expectations. The research was applied to accounting professionals who have been in Denizli city centre for at least 10 years. As a result of the research, the most important expectations of the accounting professions from the trainees are on the plan of document system, package program knowledge, pre-accounting, responsibility and ethics. In addition to the 3+1 on-the-job training program, professional chambers of accounting profession members in the interactive educational environments are introduced to this program to be independent of time and space, and also to obtain the results as quickly as possible.

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Normy, wartości i własny obraz zespołów projektowych studentów rachunkowości i auditingu

Author(s): Marta Nowak / Language(s): Polish Issue: 544/2019

Celem artykułu była identyfikacja norm grupowych, postrzegania korzyści z pracy grupowej oraz własnego obrazu grupy występujących w zespołach projektowych studentów kierunku rachunkowość i auditing. Badania przeprowadzono w nurcie rachunkowości behawioralnej, polegającym na badaniu zjawisk psychospołecznych jej towarzyszących oraz zachowań z nią związanych. Badania miały charakter jakościowy. Zastosowana została metoda projekcji. Wykorzystano technikę zdań niedokończonych.

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Ustalanie kosztów uzyskania przychodów w warunkach prowadzenia ksiąg rachunkowych

Author(s): Michał Poszwa / Language(s): Polish Issue: 544/2019

Celem artykułu jest analiza i ocena wariantów ustalania kosztów uzyskania przychodów w rachunku wyniku podatkowego. Przedmiotem analizy są przepisy ustaw regulujących opodatkowanie dochodów z działalności gospodarczej prowadzonej w formie osoby fizycznej i prawnej. W opracowaniu zastosowano metodę analizy regulacji prawnych, interpretacji podatkowych, wyroków sądów administracyjnych oraz literatury. W przypadku podatników stosujących księgi rachunkowe procedura rachunkowa dotycząca ustalania kosztów podatkowych nie została jednak precyzyjnie określona w przepisach. W praktyce stosowania ustaw o podatkach dochodowych pojawia się szereg dylematów, które skutkują różnymi wariantami rachunku kosztów uzyskania przychodów. Rezultatem przedstawionych analiz jest identyfikacja podstawowych wariantów rachunku kosztów podatkowych oraz ocena skutków ich stosowania. Dla podatników istotne jest wskazanie konsekwencji stosowania procedur rachunkowych głównie w kontekście oceny prawidłowości rozliczeń.

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