scholarly journals Financial and Non-Financial Reporting – an Attempt to Correlation Between Selected Chosen Variables

2021 ◽  
Vol 1 (1) ◽  
Author(s):  
Marta PODOBIŃSKA-STANIEC ◽  
Robert RANOSZ
Keyword(s):  
Financial Reporting ◽  
Intellectual Capital ◽  
Intangible Assets ◽  
Full Time ◽  
Full Time Equivalent ◽  
Fixed Assets ◽  
Capital Efficiency ◽  
Financial Result

This paper describes a study designed to find correlations between intellectual capital efficiency, measured using the Value AddedIntellectual Coefficient (VAIC), and selected components of reports submitted by KGHM Polska Miedź S.A., a Polish mining company.The study examined such components as the company’s intangible assets, number of jobs/FTEs (Full-time equivalent) andthe net financial result. The timeframe explored here is the period between 2004 and 2018 (the last 14 years). We assumed thatintellectual capital efficiency should be correlated with intangible assets, which are part of fixed assets, but the results of our studyproved otherwise. Our analysis demonstrated that intellectual capital efficiency was correlated the strongest with the company’sfinancial performance.

Accounting “gets real” in dealing with virtual manufacturing

2005 ◽  
Vol 6 (3) ◽  
pp. 322-338 ◽  
Author(s):  
Mike Tayles ◽  
Margaret Webster ◽  
David Sugden ◽  
Andrew Bramley
Keyword(s):  
Financial Reporting ◽  
Intellectual Capital ◽  
Intangible Assets ◽  
Financial Analysis ◽  
Balance Sheet ◽  
Virtual Manufacturing ◽  
Managerial Accounting ◽  
Content Type ◽  
Market Values ◽  
Virtual Organisation

PurposeOf relatively recent origin is the virtual organisation where companies are able to marshal the necessary competencies from a range of independent external agents through the strategic use of outsourcing mechanisms. The paper discusses the challenge of accounting for intellectual capital (IC) and intangible assets and presents a financial analysis and background of companies exhibiting different levels of virtuality, from traditional manufacturing to virtual manufacturing.Design/methodology/approachThis paper is based on the interaction of the researchers with three companies examining their positions on the continuum from traditional to virtual manufacturing. Case studies of the companies and some key financial results for a period of years are presented in order to explore implications and inform strategic decisions.FindingsIt concludes that conventional financial reporting for IC and intangibles has limited scope. This is elaborated through contrasts in a number of conventional accounting measures and some others, less conventional, to highlight the implications of the intellectual capital employed. The results are reported and implications of these discussed in the context of the companies whose background and activities are briefly outlined.Practical implicationsThe measurement and management of the intangible assets and intellectual capital of organisations has been the focus of recent research in accounting and finance. This has applied to the corporate reporting of financial results involving its impact on the balance sheet, managerial accounting concerned with decisions and the internal use of various financial and non‐financial performance measures and finance where market values of companies have been shown to differ significantly from their book values as shown in published accounts.Originality/valueThe content will be of interest to academics studying issues surrounding the reporting and decision making concerning intellectual capital and intangibles. Additionally, managers and consultants whose companies are engaged in outsourcing and or virtual/semi‐virtual manufacturing should find the results informative.

scholarly journals Intangible Assets Accounting and Reporting Issue

2019 ◽  
pp. 182-193
Author(s):  
Z.-M. Zadorozhnyi ◽  
V. Yasyshena
Keyword(s):  
Financial Reporting ◽  
Intellectual Capital ◽  
Intangible Assets ◽  
Financial Statements ◽  
Additional Line ◽  
Literary Sources ◽  
Accounting Software ◽  
The Impact ◽  
Management Reporting ◽  
Management Report

The article examines the views of foreign economists on the importance of the impact of intangible assets (IA) and goodwill on business. The main purpose of this study is to improve and develop approaches of accounting for IA and goodwill, reflecting them in the financial and management reporting. The systematization of literary sources and the study of regulatory documents showed that there were several problematic issues related to the accounting and reporting of IAs and goodwill that needed elaboration and clarification. The urgency of solving this scientific problem lies in the fact that due to the existence of unresolved issues in accounting for IA and goodwill, as well as the formation of indicators in the financial statements, there is a significant gap between the methodology of accounting for these assets and current requirements of the economy. It is proposed to amend the Methodological Provisions № 417 by allocating the IA into a separate group for more detailed state statistical observation of these assets. It is recommended to separate the subaccount for accounting software showing the detailed information for this subaccount in the Notes to the Annual Financial Statements. To reconcile goodwill with the Plan of Accounts and Reporting, it is offered to set out the title of Section 1 of the Notes to the Annual Financial Statement, as follows: «Intangible Assets and Goodwill». It is recommended to keep records of internal goodwill in managerial and financial accounting, with the separation of the subaccount, with amendments to Section 1 of the Notes to the Annual Financial Statements regarding the inclusion of additional line 095 «Internal Goodwill». For management accounting of IA and goodwill, it is proposed to use the form of internal management reporting, which is based on paragraph 5 «Notes to the Annual Financial Statements», which contains additional indicators that allow the management system to identify IA s both at the respective centres of responsibility and their units, for different periods, to control the amount, direction, deviation of the planned and actual expenses at the receipt of IA, etc. It is recommended to open an additional subaccount for accounting for IAs shortages with the disclosure in the Annex to Methodological Recommendations № 1327 of the procedure for accounting for IAs shortages using this subaccount. It is justified that the Management Report should be considered as a supplement to the financial statements. The management report proposes to disclose the information about the IA and, if available, about goodwill (internal goodwill), and to provide information aimed at the development of intellectual capital. Keywords: brand, internal goodwill, management report, management report, identification, intellectual capital, intangible assets (IA); non-current assets, accounting, managerial reporting, financial reporting.

scholarly journals Proprietary costs of intellectual capital reporting: Malaysian evidence

2015 ◽  
Vol 23 (3) ◽  
pp. 275-292 ◽  
Author(s):  
Hasnah Kamardin ◽  
Robiah Abu Bakar ◽  
Rokiah Ishak
Keyword(s):  
Human Capital ◽  
Financial Reporting ◽  
Intellectual Capital ◽  
Stock Exchange ◽  
Value Added ◽  
Annual Reports ◽  
Content Type ◽  
Reporting Practices ◽  
Capital Efficiency

Purpose – The purpose of this paper is to examine the relationship between intellectual capital (IC) performance (value-added intellectual coefficient (VAIC)) and company characteristics with IC disclosure (ICD) in Malaysian listed companies. Design/methodology/approach – Sample of the study is 68 biggest Malaysian companies listed in Malaysian Stock Exchange based on market capitalization in year 2006. The paper follows the classification of ICD by Huang et al. (2007), with three broad IC categories in 45 items. Content analysis was used to collect the IC information from the annual reports. Regression analysis was conducted for VAIC and its components. Log linear analysis was also conducted to cater the possible misspecification in the model. Findings – Results of the study show that VAIC is negatively related to ICD. Further classification of VAIC shows that intellectual capital efficiency and human capital efficiency are negatively related to ICD whilst structural capital efficiency is not related to ICD. Company size and leverage are found to be positively related to ICD. Research limitations/implications – Negative association between VAIC and ICD suggests that companies reduce ICD for competitive advantage reason which supports the proprietary cost theory. The findings of the study may provide some evidence to regulators to enhance the reporting practices of IC for the benefits of users of financial reporting in making relevant decisions. The focus should be given on the reporting of human capital items. Originality/value – This is the first paper to use IC framework by Huang et al. (2007). Consistency of findings with other studies using different IC framework can be compared for the choice of IC framework in future studies.

scholarly journals Accouting and marketing dimensions of innovations

e-Finanse ◽  
2017 ◽  
Vol 13 (2) ◽  
pp. 1-13 ◽  
Author(s):  
Anna Dyhdalewicz ◽  
Urszula Widelska
Keyword(s):  
Financial Reporting ◽  
Intangible Assets ◽  
Literature Study ◽  
Accounting Standard ◽  
Marketing Innovation ◽  
Initial Stage ◽  
Fixed Assets ◽  
A Company ◽  
International Accounting Standard ◽  
Positive Effect

AbstractInnovations are an important, although imprecise conceptual category. They are perceived differently depending on the accepted scientific perspective. The article verifies the concept of innovation in terms of marketing and accounting. The main aim of the paper is to identify problems and formulate preliminary research hypotheses connected to the integration of the accounting and marketing functions of an enterprise within the context of the assessment of innovative activities conducted by the entity. Additionally, it is the authors’ intention to draw attention to similarities and differences that occur between the regulations of the national accounting law and the approach of marketing within this domain. For the purposes of the research it has been hypothesized that the integration of the accounting and marketing functions of en enterprise concerning innovation is limited because of different perceptions of sources and results of innovation within these two fields. Assessments of the innovativeness of the same enterprise from the perspective of marketing and from the perspective of accounting are different. This aim has been realized through the use of scientific description based on the analysis of literature concerned mainly with marketing innovation. The perspective of accounting innovation was also analyzed through a literature study and using a comparison study of chosen accounting regulations contained in the Polish Accounting Act and the International Accounting Standard 38 „Intangible Assets”. In conclusion it should be stated that accounting has not defined the concept of „innovation” nor, for the purposes of financial reporting, has not isolated innovation as an asset. In accounting, assets associated with the concept of innovation include intangible assets and tangible resources in fixed assets. Considering the presented approaches to innovation a distinct relationship on the type of incurred expenditures can be noticed: whether the expenses had been incurred for internally generated assets or for their acquisition. Only acquired resources and costs of completed development and development work in progress are a common part for these concepts. The presented initial stage of research also confirmed that from the perspective of accounting and marketing the assessment of the innovation level of an enterprise is not identical. It is assumed that the integration of the accounting and marketing functions within a company may have a positive effect on the process of information management.

The Severity of Internal Controls over Financial Reporting Deficiencies: Differences among Types and Industries

2014 ◽  
pp. 55-77
Author(s):  
Tatiana Mazza ◽  
Stefano Azzali
Keyword(s):  
Information Technology ◽  
Financial Reporting ◽  
Internal Control ◽  
Service Industry ◽  
Listed Companies ◽  
Internal Controls ◽  
Service Companies ◽  
Finance Industry ◽  
Material Weaknesses ◽  
Fixed Assets

This study analyzes the severity of Internal Control over Financial Reporting deficiencies (Deficiencies, Significant Deficiencies and Material Weaknesses) in a sample of Italian listed companies, in the period 2007- 2012. Using proprietary data the severity of the deficiencies is tested for account-specific, entity level and information technology controls and for industries (manufacturing and services vs finance industries). The results on ICD severity is compared with one of the most frequent ICD (Acc_Period End/Accounting Policies): for account-specific, ICD in revenues, purchase, fixed assets and intangible, loans and insurance are more severe while ICD in Inventory are less severe. Differences in ICD severity have been found in the characteristic account: ICD in loan and insurance for finance industry and ICD in revenue, purchase for manufacturing and service industry are more severe. Finally, we found that ICD in entity level and information technology controls are less severe than account specific ICD in all industries. However, the results on entity level and information technology deficiencies could also mean that the importance of these types of control are under-evaluated by the manufacturing and service companies.

ANALISIS BEBAN KERJA DENGAN METODE FULL TIME QUIVALENT UNTUK MENGOPTIMALKAN KINERJA PADA BAGIAN PRODUKSI DI ERLANGGA KONVEKSI, MALANG

2020 ◽  
Vol 10 (2) ◽  
pp. 55-59
Author(s):  
Irgi Achmad Fahrezy ◽  
ST. Salmia L. A ◽  
Soemanto Soemanto
Keyword(s):  
Quality Control ◽  
Full Time ◽  
Full Time Equivalent

Pertumbuhanydan permintaan akan sandang yangysemakin meningkat menuntutbperusahan konveksi untuk memiliki tingkat produktifitas yang tinggi, dimana proses ini dapat dilakukan dengan cara meningkatkanbproduktifitas karyawannya. Erlangga Konveksi adalah salah satu perusahaan konveksi yang berdiri tahun 2010. Masalah yang terjadi di Erlangga Konveksi adalah tidak seimbangnya waktu proses produksi pada tiap stasiun kerja yang menyebabkan terjadinya penambahan jumlahpwaktu kerja dan menyebabkan penumpukanfdan banyak kegiatan dari operator yang menghabiskantwaktu dimana operator banyak melakukan kegiatan di luar dari stasiun kerja mereka sendiri untuk membantu operator di stasiun kerja lainya. Untuk itu perlu dilakukan pengukuran beban kerja sebagai dasar perhitungan kebutuhan tenaga kerja yang sesuai pada bagian produksi. Metode yang digunakan dalam penelitian ini adalah metode Full Time Equivalent. Hasil pengukuran menunjukkan beban kerja adalah sebesar 0,33 pada operator gambar pola; 0,29 pada operator  pemotongan 1; 0,31 pada operator pemotongan 2; 0,21 pada operator sablon 1 dan 2; 0,22 pada operator press sablon; 1,24 pada operator jahit obras 1; 1,27 padaooperator jahit obras 2; 0,34 pada operator jahit rantai; 0,25 pada operator cutting sebelumnoverdeck; 0,55 pada operator overdeck 1 dan 2; 0,57 pada operator overdeck 3; 0,18 pada operator quality control 1 dan 2; 0,14 pada operator steam; 0,42 pada operatorpsetrika dan 0,20 pada operator packaging. Berdasarkan beban kerja yang telah dihitung pada masing-masing operatorybagian produksi Erlangga Konveksi, Malang, jumlah tenaga optimal pada bagian produksi adalah sebanyak 7 orang yang terbagi ke dalam 7 stasiun kerja.

scholarly journals Reshaping Higher Educational Institutions through Frugal Open Innovation

2021 ◽  
Vol 7 (2) ◽  
pp. 145
Author(s):  
Jayamalathi Jayabalan ◽  
Magiswary Dorasamy ◽  
Murali Raman
Keyword(s):  
Intellectual Capital ◽  
Financial Distress ◽  
Open Innovation ◽  
Intangible Assets ◽  
Private Universities ◽  
Educational Institutions ◽  
Current Debate ◽  
Higher Educational Institutions ◽  
Value Propositions ◽  
Higher Educational

Many private higher educational institutions (PHEI) are facing poor profitability, increased short term debts with under-resourced cash flow and insufficient funds that could lead to financial distress. To address the issues of ever-changing business environments and to deliver value propositions, PHEIs should focus on their intangible assets to increase their capabilities to achieve frugal open innovation. The objective of this paper is to investigate the challenges faced by private universities from the practitioners’ points of view and offer a practical solution. This paper also attempts to identify whether there is a need for any changes in business model or operations required by private universities to sustain their competitive advantage in the current environment. This study is exploratory in nature due to scarcity of past literature on frugal open innovation in PHEI context. Interviews were conducted with experienced practitioners to elicit their experience managing challenges in PHEI. As a result, this paper sheds light on the ability of PHEIs to formalize, capture, and leverage its intangible assets rather than only investing and managing tangible assets in order to achieve frugal open innovation. Frugal open innovation is the enabler for PHEI to focus on core functions, create closer integration with industry, local and international communities and promote greater efficiency in operations. This paper is novel because it seeks to contribute to the current debate in the literature, positioning frugal open innovation (FOI) within the sphere of intellectual capital research, through exploring the effect of intellectual capital on frugal innovation is mediated through the information technology capability. The result indicates that sales and operating planning (S&OP) can be panacea for the five main challenges faced by PHEI includes structural challenges, operational challenges, financial challenges, social challenges and technological challenges. We conclude that there is a role for intellectual capital to achieve FOI by influencing IT capabilities, thus warrants more research to fill this research gap.

scholarly journals Effects of coronavirus disease 2019 (COVID-19) pandemic on antimicrobial prevalence and prescribing in a tertiary hospital in Singapore

2021 ◽  
Vol 10 (1) ◽  
Author(s):  
Tat Ming Ng ◽  
Sock Hoon Tan ◽  
Shi Thong Heng ◽  
Hui Lin Tay ◽  
Min Yi Yap ◽  
...  
Keyword(s):  
Infectious Disease ◽  
Quality Indicators ◽  
Survey Methodology ◽  
Tertiary Hospital ◽  
Full Time ◽  
Full Time Equivalent ◽  
Prevalence Survey ◽  
Antimicrobial Prescribing ◽  
Point Prevalence Survey ◽  
Prescribing Quality

Abstract Background The deployment of antimicrobial stewardship (AMS) teams to deal with the COVID-19 pandemic can lead to a loss of developed frameworks, best practices and leadership resulting in adverse impact on antimicrobial prescribing and resistance. We aim to investigate effects of reduction in AMS resources during the COVID-19 pandemic on antimicrobial prescribing. Methods One of 5 full-time equivalent AMS pharmacists was deployed to support pandemic work and AMS rounds with infectious disease physicians were reduced from 5 to 2 times a week. A survey in acute inpatients was conducted using the Global Point Prevalence Survey methodology in July 2020 and compared with those in 2015 and 2017–2019. Results The prevalence of antimicrobial prescribing (55% in 2015 to 49% in 2019 and 47% in 2020, p = 0.02) and antibacterials (54% in 2015 to 45% in 2019 and 42% in 2020, p < 0.01) have been reducing despite the pandemic. Antimicrobial prescribing in infectious disease wards with suspected or confirmed COVID-19 cases was 29% in 2020. Overall, antimicrobial prescribing quality indicators continued to improve (e.g. reasons in notes, 91% in 2015 to 94% in 2019 and 97% in 2020, p < 0.01) or remained stable (compliance to guideline, 71% in 2015 to 62% in 2019 and 73% in 2020, p = 0.08). Conclusion During the COVID-19 pandemic, there was no increase in antimicrobial prescribing and no significant differences in antimicrobial prescribing quality indicators.

scholarly journals Review of the Health, Welfare and Care Workforce in Tasmania, Australia: 2011–2016

2021 ◽  
Vol 18 (13) ◽  
pp. 7014
Author(s):  
Belinda Jessup ◽  
Tony Barnett ◽  
Kehinde Obamiro ◽  
Merylin Cross ◽  
Edwin Mseke
Keyword(s):  
Oral Health ◽  
Rural Communities ◽  
Health Workforce ◽  
Census Data ◽  
Care Service ◽  
The State ◽  
Full Time ◽  
Full Time Equivalent ◽  
Diverse Range ◽  
Per Capita

Background: On a per capita basis, rural communities are underserviced by health professionals when compared to metropolitan areas of Australia. However, most studies evaluating health workforce focus on discrete professional groups rather than the collective contribution of the range of health, care and welfare workers within communities. The objective of this study was therefore to illustrate a novel approach for evaluating the broader composition of the health, welfare and care (HWC) workforce in Tasmania, Australia, and its potential to inform the delivery of healthcare services within rural communities. Methods: Census data (2011 and 2016) were obtained for all workers involved in health, welfare and care service provision in Tasmania and in each statistical level 4 area (SA4) of the state. Workers were grouped into seven categories: medicine, nursing, allied health, dentistry and oral health, health-other, welfare and carers. Data were aggregated for each category to obtain total headcount, total full time equivalent (FTE) positions and total annual hours of service per capita, with changes observed over the five-year period. Results: All categories of the Tasmanian HWC workforce except welfare grew between 2011 and 2016. While this growth occurred in all SA4 regions across the state, the HWC workforce remained maldistributed, with more annual hours of service per capita provided in the Hobart area. Although the HWC workforce remained highly feminised, a move toward gender balance was observed in some categories, including medicine, dentistry and oral health, and carers. The HWC workforce also saw an increase in part-time workers across all categories. Conclusions: Adopting a broad approach to health workforce planning can better reflect the reality of healthcare service delivery. For underserviced rural communities, recognising the diverse range of workers who can contribute to the provision of health, welfare and care services offers the opportunity to realise existing workforce capacity and explore how ‘total care’ may be delivered by different combinations of health, welfare and care workers.

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