Solid Waste Recycling Issues in Georgia

Georgia has made many commitments by signing the Association Agreement with the European Union, including the development of an effective waste management program. Waste management policies should include issues such as: waste management, landfills, identification and classification of waste facilities, urban wastewater treatment and more. There are four types of waste: household waste; Medical waste; Biological waste and industrial waste. Each type of waste can cause great harm to the environment. The medical and industrial waste are especially dangerous. About 5-10 thousand tons of medical waste are generated in Georgia. There is less waste planning opportunities and experience at the municipal level. In small towns and rural settlements, there are not enough garbage collection containers and garbage trucks. With the economic development of the country, the amount of waste generated and collected is increasing. Like developing countries, solid waste management in Georgia is associated with challenges of national, regional and local importance, as well as financial and environmental problems. The important steps have been taken in recent years to rectify the situation: a system for the safe disposal of municipal waste in a landfill environment and health has been established in Tbilisi and the regions. There is less waste planning opportunities and experience at the municipal level. In small towns and rural settlements, there are not enough garbage collection containers and garbage trucks. With the economic development of the country, the amount of waste generated and collected is increasing. The Work has already begun on arranging new landfills. The Waste Management Code, accompanying by-laws, the National Waste Management Strategy (2016-2030) and the National Waste Management Action Plan have made it the preferred course for Georgia to become a country focused on waste prevention and recycling. Despite the positive changes, according to experts on the issue, the country still has a long way to go to achieve this goal. Several factors are particularly challenging: 1. Incentive mechanisms for waste prevention, reuse, recycling and recovery are being developed; 2. Waste processing companies should be established or strengthened; 3. Effective mechanisms for waste management costs (both for citizens and companies) to be developed; 4. An extended producer obligation should be introduced, which implies the responsibility of the producer and / or importer for the collection and treatment of specific wastes hazardous to humans and health. Key words: Solid waste, Garbage processing plants, Household waste, Medical waste, Biological waste, Industrial waste.

The Impact of Globalization on Economic Growth

Twentieth century for the world economy is associated with a range of processes that involve a broader scope. The important issue in the order is at stake and at the same time the internationalization stage - Globalization. It discusses the developmental processes of the world in the socio-economic context. We are globalized as an accelerating factor. In addition to the destruction, it also contributes to modernization. The English word "globe" means Globe, while "global" - the world. Globalization -the modern English word is to make changes in the world economy and society. More precisely, the globalization of the economy is one of the components of globalization that includes several aspects: • Liberalization of Economics; • Development of trade; • Integration of countries in the modern world community; • To increase the service market; • Make investments. Globalization is a major influence on the economy of all countries. It deals with the process of creation of goods and services, the use of force, investing in "physical" capital, technologies and their spread to other countries. In the end, everything is expressed in the production and labor efficiency. The article-"The Impact of Globalization on Economic Growth" deals with the modern actual issues of globalization and its impact on the national economy. According to the author’s explanation, the globalization is the process of formation the world as an economic, technological, political and cultural entity through conditions of maintaining the statehood and national identity of the concrete countries. Globalization has the objective as well as the subjective features. That’s why the globalization includes unprecedented possibilities for development of human society as so as it threats of its existence. The positive results have been achieved only when any exposures of abuse are excluded and all decisions are received as a result of common consensus. The other trends of globalization might be ended with disaster. Globalization influences all sectors of national economy, including unemployment. In the article into detailed form are discussed the positive and negative sides of influence that globalization has on the national state and economy. In Summary, it seems that globalization involves both the development of human society and its unseen possibilities of the threat of existence. Thus, it becomes necessary in the process of globalization proper management, or implementation of fair globalization. The greatest contribution to this belongs to the leader (big) states. It is on their decisions that globalization does not depend on fate. Key words: Globalization; national economy; unemployment; international labor market.

Bulk Cargo Marine Transportation Industry

Bulk cargo is being transported in large parcels to reduce transportation cost calculated per unit of cargo. Its main categories are: liquid cargo, dry bulk cargo and special bulk cargo. The deadweight of the fleet of ships carrying bulk cargo by sea increased 3.4 times in 1990-2020. Dry carriers account for 55% of the fleet and their deadweight increased 4.4 times during the same period. The Oil and oil products tankers account for 37% of the deadweights which has been increased by 2.4 times. The majority of the oil tanker tonnage (over 98%) comes from VLCC, Suezmax and Aframax type vessels. 60% of this is 200 thousands tankers sized more than dwt. The oil tanker freight market in 2002-2019 was characterized by a high level of volatility. VLCC tanker time-charter equivalent ranged from $ 8.7-95.2 thousand in 2002-2019. The variability of time-charter rates in other oil tanker categories was similar. The major part of the tonnage of product tankers (more than 90%) is derived from from LR2, LR1 and MR2 type of vessels. 43% of these are LR2 tankers. This segment of the freight market was also highly variable. LR2 tanker time-charter equivalent ranged from $ 7.5-28.8 thousand in 2011-2019 years. The main part of the tonnage of dry cargo vessels (over 69%) comes from Capesize, Panamax and Supramax type vessels. This segment of the freight market has been declining and highly volatile in recent years. The capesize-type ship time charter equivalent ranged from $ 3.5-30.8 thousands in 2011-2019. Keywords: bulk cargo, oil tanker, bulk carrier, gas carrier, chemical tanker, time charter equivalent.

Functions and Meaning of “Materiality” in the Formation of Information in Financial Statements

The problem of materiality of information is related not only to audit, but also to financial, economic and managerial activities, including organization and maintenance of accounting, financial reports, analysis of an entity. The level of materiality of the information, including the materiality of deviations of the actual values of indicators from the specified parameters, predetermines the risk of uncertainty in making managerial decisions and decision-making processes as a whole. “Materiality” is unique for each entity or Group of Companies that generates IFRS reporting. That is why IFRS does not provide specific quantitative thresholds or clear rules for their determination. However, provides the qualitative factors that should be considered when assessing materiality: • Whether the misstatements allow demonstrating the compliance of the company's activities with financial forecasts - own, market, made by rating agencies or other independent analysts; • Whether the misstatements enable it to demonstrate compliance with regulations, debt or credit covenants, or other contractual requirements; • Whether misstatements convert net loss to net income or vice versa; • Whether misstatements affect key ratios or other disclosures in the financial statements to which users pay special attention; • Whether misstatements affect the size of bonuses for key management personnel; • Whether or not the segment disclosures are misstated; • Whether misstatements affect the disclosure of transactions with related parties. If a misstatement is intentional to achieve a particular disclosure option, then the misstatement is considered material, regardless of the amount. This is because the entity expected such misstatement to influence the decisions made by users of the financial statements. Keywords: Materiality; Financial statements; IFRS; Interim financial statements; Qualitative and quantitative indicators.

Gender Equality and Sustainable Development

The article discusses gender equality as an integral part of democratic values. It is a democratic state that should be based not only on political and social, but also on the idea of gender equality, which means ensuring equal rights and responsibilities, responsibilities and equal participation in socio-political life. The 5th goal of the United Nations-Sustainable Development is to ensure gender equality in society. Therefore, the Government of Georgia is actively working to ensure economic empowerment of women and equal economic opportunities in the country by 2030 and to protect the gender balance in the decision-making process. According to global studies, female potential is the least used economic resource in the world, and a pandemic exacerbates this problem. According to world studies, globally, the rate of job losses in women due to pandemics is about 1.8 times higher than the same rate in men. The article extensively covers additional risk factors for gender equality, such as poverty, as women often do not have access to adequate nutrition, fresh air, water, doctor visits, and housing. For example, the production of textiles is one of the most important polluting industries in the world. 90% of the employees in this field are women. Similarly, in Georgia, the majority of employees in garment factories are women. Our observations show that women earn an average of 400-500 GEL per month, in return for having to work hard, working overtime, which also increases their health risks. Similar problems exist in other industry conditions. For example, the city of Rustavi, where the degree of air pollution is 3-4 times higher than the allowable norms. That is why most women complain of weak immunity, various allergic and oncological diseases. It should also be noted that in Georgia, the integration of gender issues in the development of legislative policies, laws, strategies and programs does not happen often and, unfortunately, the state puts the interest of business profit ahead of the needs of society. The UN Office in Georgia has set up an Extended Gender Thematic Group (GTG) to achieve the goals and objectives set out in the 2021-2025 Partnership Agreement, which brings together all gender contacts and works to promote gender equality and women's empowerment in the country. Keywords: Gender equality, sustainable development, cooperation agreement, women's empowerment, women's rights.

Some Aspects About Entrepreneurial Skills and Competences Learning

Nowadays, teaching entrepreneurship is important in terms of developing country’s economics and forming entrepreneurial thinking among the society. The difference between entrepreneurial competence and adequacy must be considered, as well as defining entrepreneurial competences as being initiative and stringy. The result of teaching entrepreneurship has two different meanings - it is considered as a skill of leading business, more widely - as a stringiness of an individual. Human is an actualization of civilization, society and historical experience of profession, therefore the process of forming entrepreneurial thinking - universal skill - should be considered through this lens. The Entrepreneurial work is not easy, it demands a purposeful approach, assessment of individual possibilities and skills. Lots of business theorists and practicists still argue about whether it’s possible to teach someone entrepreneurship or not. Everybody agrees that possessing the entrepreneurial skills is very important, but cannot define what it means. The Entrepreneurial thinking can be reviewed as:  The Vivid vision and understanding of life goals - an entrepreneur mostly does what he wants and likes and minimizes almost every unpleasant work.  Desire to work for yourself - strong will to work without dependence on others.  Abillity and desire to take responsibility on his personal life, income and other material pleasures.  Particular attitude towards money - for entrepreneurs, money is not an instrument of fulfilling goals. Therefore, they’re not afraid of investing millions. The Positive perception of the word “investition” - entrepreneur sees investments not as an expense, but as the additional possibility. He knows that he doesn’t waste money in books or trainings, but investing in himself. The ability to gain from every situation - if others are saying that it’s not real, then it’s just an opinion of others. The Entrepreneurs love experiments - he’s open to the new things and possibilities and uses chances. The Entrepreneur is able to find necessary contacts, resources, possibilities fast. Dealing with those who are difficult to be dealt with, to say a firm “no” if he doesn’t agree with something. Developing entrepreneurial thinking is very real and this process should be based on human’s formation into an entrepreneur - if 100,000 is the biggest number for him, then his business will be of this scale. And when he starts thinking with 100 Million categories, the business will profit him accordingly. Keywords: entrepreneurship, entrepreneurial competences, entrepreneurial skills, teaching entrepreneurship, entrepreneurial thinking.

The Risks of Using Cryptocurrency in Political Financing And The Methods for its Prevention

Regulating and monitoring political finances is an important factor in ensuring a fair and equitable electoral environment, but there are frequent cases of illegal finances, and in the modern world there is a tendency to use digital currencies, which are slowly entering political parties and making political finances monitoring impossible. The Relevant political finance regulations set standards for access to information, which make it possible to process the required information, to monitor it and achieve the transparency of information. Moreover, the Regulation and transparency of funding political processes are important to limit the means of gaining a power through anonymous and illegal sources. The appropriate measures of prevention and coercion serve this purpose in order to make political finances transparent through effective monitoring. Recently, a number of countries have faced the threat of receiving funding from the closed parties and the use of crypto currencies by political parties, and many have begun to think about introducing certain regulations to protect policies from digital currencies. Keywords: political party, political financing, political corruption, cryptocurrency, bitcoin.

The Role of Neuromarketing Research Results in Development of Business

In the XXI century, customer-centricity has become a main challenge in strategic marketing. Customers' satisfaction is no longer enough. The goal of marketing is to make customers excited and happy. Building a strategy for excited customers allows us to keep this segment of people in the role of customers for a long time. The decision-making process is an important aspect of customer-centricity and has paid attention to be learned. The psychologists explain that 80% of human decisions are emotional and not logical, therefore, the role of emotional marketing has clearly increased in the new century, the direction of neuromarketing has developed at lightning speed and biometric sensors have been used in business processes to gain in-depth analysis. Neuromarketing is a new field of marketing that uses medical technology to study the brain and its reactions to marketing stimuli. It focuses on why and how purchasing decisions are made. This process is subconscious, therefore it needs in-depth study. Neuromarketing has been defined as the third dimension of research, along with quantitative and qualitative research. Neuromarketing is a field that answers questions where traditional research is powerless. This direction of marketing uses biometric sensors, examines brain activity to better perceive user behavior and needs. These biometric sensors are used at every stage of the business, from developing project idea to testing the final product. The areas of application are many: marketing, politics, websites, retail, merchandising and more. Moreover, it is well known that man is most guided not by mental schemes but by subconscious emotions. Thus neuromarketing is becoming more and more popular in our era. It allows companies to predict in advance how successful their products will be. In the future, neuromarketing will become a leading and important tool for advertising and branding. Keywords: Neuromarketing, Customer Behavior, Decision Making Process, Biometric Sensors.

The Essence and Role of Human Capital in Increasing Production Efficiency

The article discusses the origin of the concept of "human capital". In the economic and social sciences, the first place is always occupied by human capital, whose creative qualities, abilities, strengths can improve one's personality and the world around it. But the development of the material and technical base of accelerated production overshadowed the problems of human development and its productivity capabilities. As a result of all this, for many years the capabilities of the producer were considered as one of the quantitative factors of production. At the same time the main task was only a qualitative combination of labor, working capital and fixed assets. The idea of human capital has long been rooted in the history of economic thought. One of his formulations can be found in William Pete's "Political Arithmetic", which was later reflected in Adam Smith's "Studies on the Nature and Causes of People's Wealth", in the Principles of Economics by Alfred Marshall and many other scholars. The theory of human capital was developed at the turn of the 50s and 60s of the 20th century. The paper analyzes the structural elements of human capital from the point of view of various authors. The author has studied the characteristics of human capital that distinguish it from other capital. The characteristics of the human capital of the organization were examined, the evaluation methods were determined, the role of human capital in the improvement of the efficiency of the organization was determined. It has been found that the effectiveness of human capital management depends on the mobility of working resources. As a result of the research, the author presented a model of human capital management of the organization. Keywords: human capital, organization, efficiency, formation, management, system.

The Role and Importance of Taxes in Fiscal Policy

The Issues related to the improvement of the tax system are important for the economic development of Georgia. The economic growth of the country, sustainable economic development, the solution of the social problems facing the country depend on the formation of the tax system. The issues related to the improvement of the tax system are always and will always be an important issue for the country's economy. The article discusses the modern tax system, tax functions, it is noted that the effective implementation of tax functions is unthinkable without such basic principles as fairness (equity), efficiency, solvency. At the same time, it is noted, that the tax system and tax policy of Georgia is based on the experience of countries with developed market economies abroad and is focused on promoting the socio-economic development of our country, improving its fiscal policy. Keywords: Taxes, fiscal policy, tax system, tax code.