scholarly journals Measuring of Goodwill in Non-profit Organizations under the conditions of Globalization: The Case of Slovak Republic

2021 ◽  
Vol 92 ◽  
pp. 03022
Author(s):  
Ivana Podhorska
Keyword(s):  
Slovak Republic ◽  
Logical Consequence ◽  
Value Added ◽  
Theory And Practice ◽  
Residual Income ◽  
Net Income ◽  
Non Profit ◽  
Book Value ◽  
Non Profit Organizations ◽  
The Difference

Research background: Both the creation and quantification of goodwill are interdisciplinary issues affecting accounting, economics, law, marketing, sociology and human resources. In both economic theory and practice, goodwill is the difference between the market and the book value of an enterprise. Purpose of the article: With the acceleration of globalization, the economic aspects of which are the logical consequence of the increasing interdependence of individual economies towards the end of the second half of the 20th century, the importance of building and managing goodwill as a competitive advantage through business activities and internationally is increasing. These facts should be more highlighted and stronger in the sector of non-profit organizations. Because of their mission, vision and character of their business. The main aim of the paper is to capture the value of goodwill in the sector of non-profit organizations in the Slovak Republic. Methods: As a testing data will be used 72 non-profit organizations from Slovak Republic. In this sample will be quantified the value of their goodwill by residual income methods. Residual income assumes the value of goodwill as a difference between net income and the product of the cost of equity and the book value of equity. Findings & Value added: Paper findings will bring the view on the possibility of measuring goodwill in the sector of non-profit organizations under the conditions of globalizations with the emphasis on the application of residual income method in the case of Slovak Republic.

scholarly journals Specifics in strategic management of non-profit organizations in the globalization process

2021 ◽  
Vol 92 ◽  
pp. 02027
Author(s):  
Eva Kicová ◽  
Oľga Poniščiaková
Keyword(s):  
Slovak Republic ◽  
Relevant Literature ◽  
Value Added ◽  
The European Union ◽  
Non Profit ◽  
The Public ◽  
Freedom Of Movement ◽  
The Creation ◽  
Non Profit Organizations ◽  
European Standards

Research background: If globalization presents really a new and not reversible process that creates a more homogenous world, strategies of enterprises should appropriate to this phenomenon, too. European legislation has significantly contributed to the creation of the mutual market and increasing freedom of movement of services within the European Union. Its basic principle can be applied to the harmonization of basic requirements for services and the subsequent normalization – the creation of common European standards. This also applies to the area of non-profit organizations. These organizations are an important part of the public sector, which in the form of various activities, in particular the providing of various services, performs tasks related to addressing manifestations of market imbalances. In contrast to the “traditional” business sector (profit sector), the task of the non-profit sector is not to generate profit but to provide consumer tasks. Purpose of the article: The objective of the article is to clarify and present the specifics of functioning and management of non-profit organizations in the conditions of the Slovak Republic. Methods: During the elaboration of the paper, the methods of compilation of analysis, synthesis and description were used on the basis of the search of the relevant literature. Part of the paper is a survey, which we conducted through a questionnaire on a selected sample of non-profit organizations in the Slovak Republic. Findings & Value added: The results of the survey we have transported into general practice recommendations for non-profit organizations to improve their operating in the conditions of Slovakia while accepting the process of globalization.

scholarly journals The methodology of BSC system in strategic management of non-profit organization in the globalization process

2021 ◽  
Vol 129 ◽  
pp. 09007
Author(s):  
Eva Kicová ◽  
Oľga Poniščiaková
Keyword(s):  
Strategic Management ◽  
Slovak Republic ◽  
Relevant Literature ◽  
Value Added ◽  
The European Union ◽  
Non Profit ◽  
The Public ◽  
Freedom Of Movement ◽  
Non Profit Organizations ◽  
System Methodology

Research background: If globalization presents really a new and not reversible process that creates a more homogenous world, strategies of enterprises should appropriate to this phenomenon, too. European legislation has significantly contributed to the creation of the mutual market and increasing freedom of movement of services within the European Union. This paper examines the issue of using the BSC system methodology in the strategic management of a selected non-profit organization. The aim is to explain the importance and essence of the BSC system methodology in the strategic management of a non-profit organization, to analyse the application and knowledge of the BSC system methodology in practice of selected organizations in Slovakia and apply the essence of the method in strategic management of selected non-profit organizations. The non-profit organizations are an important part of the public sector, which in the form of various activities, in particular the providing of various services, performs tasks related to addressing manifestations of market imbalances. In contrast to the “traditional” business sector (profit sector), the task of the non-profit sector is not to generate profit but to provide consumer tasks. Purpose of the article: The objective of the article is to clarify and present the specifics of functioning and management of non-profit organizations in the conditions of the Slovak Republic. Methods: During the elaboration of the paper, the methods of compilation of analysis, synthesis and description were used on the basis of the search of the relevant literature. Part of the paper is a survey, which we conducted through a questionnaire on a selected sample of non-profit organizations in the Slovak Republic. Findings & Value added: The results of the survey we have transported into general practice recommendations for non-profit organizations to improve their operating in the conditions of Slovakia while accepting the process of globalization.

scholarly journals Electronic Communication of Non-Profit Organizations in a Global Society

2021 ◽  
Vol 92 ◽  
pp. 06012
Author(s):  
Dagmar Hraskova ◽  
Zuzana Rosnerova
Keyword(s):  
Information And Communication Technologies ◽  
Slovak Republic ◽  
Value Added ◽  
Communication Technologies ◽  
Global Society ◽  
Non Profit ◽  
Advantages And Disadvantages ◽  
Information And Communication ◽  
Speed Up ◽  
Non Profit Organizations

Research background: Communication of non-profit organizations is one of the key activities in the conditions of this type of organizations, because through flexible communication, non-profit organizations can function effectively in today’s global society, based on modern information and communication technologies. In 2020, there was a change in communication with non-profit organizations in the environment of the Slovak Republic, through the establishment of electronic mailboxes. Purpose of the article: The aim of the article is to analyse a new way of communication of non-profit organizations, which results from the new legislation, which was adopted under Slovakia in 2020 and came into force on June 1, 2020, when the state gradually established and activated for electronic mailbox delivery for individual non-profit entity. Methods: Analytical methods were used in the article in order to evaluate the suitability of electronic mailboxes and their benefits in the environment of non-profit organizations. We work with the hypothesis that this method of communication will bring significant changes for the non-profit sector in the form of benefits, which will eliminate the obstacles that were present in the postal communication and will speed up the mutual exchange of information. Findings & Value added: The year 2020 thus brought a change in electronic mailboxes and Slovakia introduced the establishment of these mailboxes for non-profit organizations as well. Based on the obligation of non-profit organizations and its deeper analysis, we identify the advantages and disadvantages that result from this method of communication and evaluate their contribution for the practice of non-profit organizations.

CURRENT STATE OF SELF-FINANCING OF PRIVATE NON-PROFIT ORGANIZATIONS IN THE CONDITIONS OF THE SLOVAK REPUBLIC

2012 ◽  
Vol 18 (3) ◽  
pp. 438-451 ◽  
Author(s):  
Mária Svidroňová ◽  
Gabriela Vaceková
Keyword(s):  
Financial Stability ◽  
Slovak Republic ◽  
Scientific Paper ◽  
Theory And Practice ◽  
Financial Resources ◽  
Primary Data ◽  
Non Profit ◽  
Current State ◽  
Scientific Goal ◽  
Non Profit Organizations

Ensuring the financial stability of non-profit organizations through financial decision in the structure of financial resources is influenced by many objective and subjective factors. However, a necessary presumption of financial stability is to reduce their dependence on one source of funding or in other words, the independence can be achieved by diversifying of the funding sources. And it is the diversification of financial sources and their acquisition through self-financing that we consider as an appropriate way to achieve financial balance and thus long-term existential security of non-profit organizations. This scientific paper presents the partial results of a research of the current state of self-financing and diversification of financial resources of private non-profit organizations in the Slovak Republic. We analysed the primary data by the relevant scientific methods and procedures (selected mathematical-statistical methods, analysed in SPSS – Statistical Package for the Social Sciences). With the analysis we acquired a knowledge which allows us to formulate several solutions and recommendations for theory and practice. By presenting these conclusions we fulfil a scientific goal of the paper, which is to present partial results of research of current state of funding of private non-profit organizations and interpret the obtained outputs in an economic and social context.

scholarly journals Financial Distress and Bankruptcy Prediction in Conditions of Slovak Republic

2021 ◽  
Vol 92 ◽  
pp. 08017
Author(s):  
Filip Rebetak ◽  
Viera Bartosova
Keyword(s):  
Financial Distress ◽  
Prediction Models ◽  
Financial Analysis ◽  
Slovak Republic ◽  
Value Added ◽  
Theoretical Background ◽  
Bankruptcy Prediction ◽  
Important Place ◽  
Non Profit ◽  
Analysis And Synthesis

Research background: Prediction of bankruptcy has an important place in financial analysis of an organization in the globalized economy. Ever since the first publication of a paper on bankruptcy prediction in 1932, the field of bankruptcy prediction was attracting researchers and scholars internationally. Over the years, there have been a great many models conceived in many different countries, such as Altman’s Z score or Ohlson’s model for use for managers and investors to assess the financial position of a company. Globalization in last few decades has made it even more important for all stakeholders involved to know the financial shape of the company and predict the possibility of bankruptcy. Purpose of the article: We aim in this article to examine the financial distress and bankruptcy prediction models used or developed for Slovakia to provide an overview of possibilities adjusted to specific conditions of the Slovak Republic in context of globalization. We will also look at the possibility of use of these prediction models for assessing financial status of non-profit organizations in the Slovak Republic. Methods: We will use analysis and synthesis of current research and theoretical background to compare existing models and their use. Findings & Value added: We hope to contribute with this paper to the theoretical knowledge in this field by summarizing and comparing existing models used.

scholarly journals Valuation properties of accounting numbers in Brazil

2004 ◽  
Vol 1 (3) ◽  
pp. 31-36
Author(s):  
Alexsandro Broedel Lopes
Keyword(s):  
Stock Exchange ◽  
Residual Income ◽  
Net Income ◽  
Book Value ◽  
Residual Income Model ◽  
Significant Difference ◽  
Accounting Numbers ◽  
Dividend Distribution ◽  
Comparable Performance ◽  
Income Model

This work investigates the valuation properties of accounting numbers in Brazil under three traditional frameworks: earnings capitalization, book value of equity and residual income. The sample was selected from companies traded at the São Paulo Stock Exchange (BOVESPA) from 1995 to 1999, dividing the sample in two groups: companies with preferred and with common shares. My results show that the earnings capitalization model did not perform well for common shares and have a better performance for preferred shares because of the mandatory dividend distribution as a percentage of net income in Brazil and because earnings have no use as information asymmetry reducers in Brazil. The book value model performed better for common shares while residual income had a comparable performance and seems to be the dominant accounting-based valuation model for common shares. For preferred shares the residual income model performs better. The residual income term alone presents no significant difference for the two sets of companies. For both set of companies accounting income did not incorporated economic income.

scholarly journals Comparison of Selected Subjects of the Non-profit Sector in the Conditions of the Slovak Republic

2021 ◽  
Vol 91 ◽  
pp. 01023
Author(s):  
Zuzana Rosnerova ◽  
Dagmar Hraskova
Keyword(s):  
Financial Performance ◽  
National Economy ◽  
Slovak Republic ◽  
Living Standards ◽  
The Other ◽  
General Interest ◽  
Financial Instrument ◽  
Non Profit ◽  
Services Of General Interest ◽  
Non Profit Organizations

Non-profit organizations are a specific type of entities in the national economy that significantly helps to improve the living standards of the country’s population. The article focuses on the financial performance of entities in the non-profit sector of the Slovak Republic depending on the financial instrument of tax allocation, taking into account the time factor during which the entities operate in the non-profit sector. The aim of the article is to analyse the financial performance of non-profit organizations providing services of general interest and foundations with the subsequent specification of the results of the issue. We work with the hypothesis that in terms of financial performance, foundations will perform better compared to non-profit organizations. Segmentation, comparison and descriptive methods were used in the solved issue. Only in one of the analysed groups did we come to the result that the non-profit organization was able to obtain more funds than the foundation through the tax allocation tool in 2019. In the case of the other groups analysed, foundations were more financially efficient, whose performance significantly exceeded that of non-profit organizations. In terms of market life, based on the analysis, the most efficient organizations were organizations with a market life of 1-5 years and with a longer market life, their financial performance decreased. In the case of foundations, we found that the highest performance is achieved by foundations with a market existence of 15 - 20 years. We can therefore state that the established hypothesis was only partially confirmed, although in most cases foundations were more financially efficient.

scholarly journals The Influence Of Firm’s Fair Value System On Earnings Quality Under IFRS

2018 ◽  
Vol 34 (3) ◽  
pp. 427-436 ◽  
Author(s):  
Chang Seop Rhee ◽  
Eun Sil Choi ◽  
Ji Yeon Ryu
Keyword(s):  
Evaluation System ◽  
Value Relevance ◽  
Earnings Quality ◽  
Fair Value ◽  
Net Income ◽  
Value System ◽  
Book Value ◽  
Value Evaluation ◽  
Ifrs Adoption ◽  
The Difference

This paper analyzes the influence of firms’ fair value system on earnings quality under IFRS. Korean firms are required to adopt IFRS in 2011. IFRS adoption was expected to increase value relevance of book value of equity and benefit information users’ decision making. However, prior Korean studies report that value relevance of book value of equity is indifferent between under K-GAAP and IFRS. We consider that the indifference in value relevance of book value of equity after IFRS adoption is due to different level of fair value system among firms. We investigate whether the different level of fair value system among firms lead to the difference in earnings quality. Furthermore, we examine how each firm’s fair value system affect earnings quality under IFRS.  This study finds following results. First, firms with weak fair value system smooth income more frequently. Second, firms with weak fair value system experience small amount of positive profit and slight increase in net income compared to prior period more frequently. Third, firms with weak fair value system make less timely loss recognition. Lastly, book value of equity and goodwill has low relative value relevance for weak fair value systemic firms, while both book value of equity and goodwill have incremental value relevance for firms with strong fair value evaluation system.

Comparative Governance of Non-Profit Organization

2018 ◽  
Vol 1 (2) ◽  
pp. 115-125
Author(s):  
Sugiyanto Sugiyanto ◽  
Heru Kurnianto Tjahjono ◽  
Arief Hartono ◽  
Lathiful Khuluq
Keyword(s):  
Democratic Governance ◽  
Decision Makers ◽  
Future Research ◽  
Value Management ◽  
Non Profit ◽  
Governance Model ◽  
Non Profit Organizations ◽  
The Difference ◽  
Welfare Institution

The research on comparative governance of non-profit organization (organisasi nir laba/ ONL) in case study on social welfare institution (lembaga kesejahteraan social/ LKS) of Mardi Wuto dan Hamba in Yogyakarta Indonesia aimed at finding out the difference of the governance model and practice of both LKS and the uniqueness of each LKS. LKS was one of non-profit organizations in Indonesia. The empirical data were obtained and the finding was described and interpreted based on qualitative case study. The interpretation was related to the normative expectation on the design and implementation of the management of both non profit organizations. The research finding of ONL Mardiwuto was that it had bureaucratic governance model indicated by the good interaction and relation of the stakeholders, as the value management stated on articles of association. Meanwhile, ONL Hamba had democratic governance model indicated by the very good interaction and relation of the stakeholders, beyond the value management stated on articles of association. The weakness of the research was that the sample was still limited. Then, for the future research, it was suggested that the sample would be more various, and the implication of the research was it could be a reflection material for the decision makers and the managers of ONL.

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