scholarly journals Identification of Rent Relations Results in the Accounting System

2020 ◽  
pp. 5-11
Author(s):  
Serhiy Bardash ◽  
◽  
Tetyana Osadcha ◽  
Keyword(s):  
Natural Resources ◽  
Information Disclosure ◽  
Balance Sheet ◽  
Value Added ◽  
Production Costs ◽  
Practical Significance ◽  
Selling Price ◽  
Accounting System ◽  
Environmental Measures ◽  
Economic Nature

In the context of the implementation of the concept of sustainable development of individual countries of the post-Soviet space, the study of the problems of accounting for the results of rent relations becomes relevant given the solution of a number of strategic tasks facing businesses today. It is offered to solve the specified problem on the basis of definition in system of concepts of accounting of the economic nature of results of rent relations arising as a result of involvement in economic process of rent-forming factors. The purpose of the article is to formulate proposals for accounting for the results of rental relationships. The methodological basis of the research is the historical and logical method, which is used to study the evolution of rent and approaches to the disclosure of its economic content. The dialectical method and comparative analysis are used to identify significant differences in the definition of rent, formed at different stages and forms of economic relations. Methods of analysis, synthesis, induction, deduction, abstraction, idealization and generalization are used to identify the results of rent relations in the system of accounting concepts and formulate proposals for rent accounting and rent payments. Based on a critical assessment of a certain pluralism of researchers' opinions on the disclosure of the economic content of rent, it is established that: rent is a component of value added, but value added is not taken into account in the accounting system; rent is a component of income from operating activities carried out with the use or exploitation of limited natural resources; the complication of the preliminary valuation of rent makes it impossible to reflect it in income; the amount of rent depends on the demand for the product. Given the above, rent as income from the extraction / use of natural resources, as well as the use of other rent-forming factors, it is proposed to reflect on the off-balance sheet account “Rent” with the allocation of sub-accounts by type of economic rent. It is proposed to attribute rent payments to operating costs, as their inclusion in production costs contradicts the economic nature of such costs, unreasonably increases the cost and contradicts the principle of fair distribution of rent. The practical significance of the study is to increase the level of information disclosure for management decisions, in particular: determining the maximum allowable reduction in the selling price of finished products while maintaining an acceptable level of profitability to increase demand, expand market and, consequently, increase profits; directing all or part of the rent to the implementation of environmental measures, modernization of material and technical base, intensification of innovation.

scholarly journals ACCOUNTING OF RESULTS OF RENT RELATIONS

2018 ◽  
Vol 4 (4) ◽  
pp. 24-32
Author(s):  
Serhii Bardash ◽  
Tetiana Osadcha
Keyword(s):  
Natural Resources ◽  
Practical Importance ◽  
Balance Sheet ◽  
Value Added ◽  
Production Costs ◽  
Added Value ◽  
Accounting System ◽  
Economic Rent ◽  
Environmental Measures ◽  
Economic Nature

In the conditions of the implementation of the concept of sustainable development, the study of accounting reflection of the results of rent relations becomes relevant in view of solving a number of strategic tasks that today face economic entities. The solution to this problem is proposed on the basis of the definition in the system of accounting concepts of economic nature of results of rent relations arising owing to the involvement of renting factors in the economic process. The purpose of the research is to determine the formulation of proposals for the accounting reflection of the results of rental relations. The methodological basis of the study is the historical and logical method used to study the evolution of rent and approaches to the disclosure of its economic meaning. The dialectical method and comparative analysis are used to identify significant differences in the definition of rent, formed at different stages and forms of economic relations. Methods of analysis, synthesis, induction, deduction, abstraction, idealization, and generalization are used to identify the results of rent relations in the system of accounting concepts and the formulation of proposals for accounting rent and rent payments. Scientific results. Based on the critical assessment of the plurality of researchers’ opinions regarding the disclosure of the economic content of the rent, it has been established that: the rent is an integral part of the value added, but the added value in the accounting system is not accounted; the rent is a component of the income from operating activities carried out with the use or exploitation of limited natural resources; the complication of the previous value appraisal of rent makes it impossible to reflect it as a part of income; the amount of rent depends on the demand for the goods. If the product is sold at cost or below the cost, there will be no rent. The higher the sales price, the greater the share of rent in sales income. Taking into account the above, the rent as an income from the extraction/use of natural resources, as well as the use of other renting factors, is proposed to be reflected on the off-balance sheet account “Rent” with the allocation of sub-accounts by type of economic rent received. Rent payments are proposed to be attributed to operating expenses since their inclusion in production costs contradicts the economic nature of such costs, unjustifiably increases the prime cost, and contradicts the principle of equitable distribution of rent. The practical importance of the study is to increase the level of disclosure of information for making managerial decisions, in particular: determining the maximum allowable reduction in the price of sales of finished products, while maintaining an acceptable level of profitability for increasing demand, expanding the market and, consequently, increasing profits; directing the entire amount of rent or its part to the implementation of environmental measures, modernization of the material and technical base, activation of innovation activities, etc. Value/originality. The main advantages of the research conducted are the determination of the subject and object composition of rental relations, justification of the expediency of identifying the economic rent as an additional income, presenting proposals for the accounting of rent and rent payments, which will help to solve problems of the organization and methodology of the results of rent relations, as well as improving the reporting of economic entities.

scholarly journals Techno-Economic Analysis of a Hyaluronic Acid Production Process Utilizing Streptococcal Fermentation

Processes ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 241
Author(s):  
Rafael G. Ferreira ◽  
Adriano R. Azzoni ◽  
Maria Helena Andrade Santana ◽  
Demetri Petrides
Keyword(s):  
Hyaluronic Acid ◽  
Economic Analysis ◽  
Lower Cost ◽  
Value Added ◽  
Production Costs ◽  
Selling Price ◽  
Baseline Scenario ◽  
Adhesive Properties ◽  
Fed Batch Culture ◽  
Economic Analyses

Hyaluronic acid (HA) is a polysaccharide of alternating d-glucuronic acid and N-acetyl-d-glucosamine residues present in the extracellular matrix of connective, epithelial, and nervous tissues. Due to its singular hydrating, rheological and adhesive properties, HA has found numerous cosmetic and medical applications. However, techno-economic analyses of high value-added bioproducts such as HA are scarce in the literature. Here, we present a techno-economic analysis of a process for producing HA using Streptococcus zooepidemicus, simulated in SuperPro Designer. In the baseline scenario, HA is produced by batch fermentation, reaching 2.5 g/L after 24 h. It is then centrifuged, diafiltered, treated with activated carbon and precipitated with isopropanol. The product is suitable for topical formulations and its production cost was estimated as 1115 $/kg. A similar scenario, based on fed-batch culture and assuming a titer of 5.0 g/L, led to a lower cost of 946 $/kg. Moreover, in two additional scenarios, 10% of the precipitated HA is diverted to the production of a highly pure and high-molecular weight HA, suitable for injectable applications. These scenarios resulted in higher capital and operating costs, but also in higher profits, because HA for injectable use has a higher selling price that more than compensates for its higher production costs.

The Rationality of Compiling a Forest Resource Balance Sheet

2021 ◽  
Vol 71 (4) ◽  
pp. 309-321
Author(s):  
Lijun Jin ◽  
Meng Lin ◽  
Guoshuang Tian
Keyword(s):  
Balance Sheet ◽  
Forest Products ◽  
Theory And Practice ◽  
Practical Significance ◽  
Accounting System ◽  
Forest Resource ◽  
Balance Sheets ◽  
Service Value ◽  
Supporting Effect ◽  
Resource Accounting

Abstract The existing forest resource accounting system is limited to the valuation of wood and forest products; the service value of the forest resource ecosystem is not yet included. This study adopts an empirical approach to studying the rationality and influencing factors of compiling a forest resource balance sheet (FRBS). An FRBS can systematically reflect the contribution of forest resources to the economy, ecology, and society in terms of both physical quantity and value quantity. A questionnaire survey was used to collect the data. We found that the determination and measurement of forest resource assets and liabilities and the calculation of the service value of the ecosystem had a supporting effect on the rationality of compiling an FRBS. This study expands the field and scope of forest resource accounting, facilitates the compilation of natural resources and government balance sheets, and presents the practical significance for the theory and practice behind the development of an FRBS.

scholarly journals FSBu 25/2018 “Accounting for Leases”   and IFRS 16 “Leases”: A comparative Analysis of Key Provisions

2020 ◽  
Vol 6 (6) ◽  
pp. 42-51
Author(s):  
V. S. Plotnikov ◽  
O. V. Plotnikova
Keyword(s):  
Structural Information ◽  
Balance Sheet ◽  
Financial Statements ◽  
Practical Significance ◽  
Accounting System ◽  
The Subject ◽  
The Cost ◽  
Lease Accounting ◽  
Comparative Description

The article is devoted to the problem of accounting reflection of rental relations, which has been the subject of discussion by professional accountants for more than 100 years. At present, more standards are devoted to this problem in world practice than to other accounting objects. Nevertheless, a number of issues remain unresolved. The methodological framework of the study is based on a comparative description of the provisions of IFRS 16 “Leases” and FSBU 25/2018 “Accounting for Leases” and includes a new institutional theory, Conceptual framework for the presentation of financial statements. The research methodology provides for the reclassification of balance sheet items, which allows for significant structural information regarding the reflection of rental objects. The analysis revealed the following differences in standards: the Russian FSBU 25/2018 unreasonably introduces accounting for leasing transactions into the financial lease accounting system; insufficiently convincingly and without proper evidence the issues of identification of financial lease accounting objects are covered. The prospective direction of accounting for financial leases is the possibility of reflecting the property transferred by the lessee as an element of the cost of financial capital, at the same time, the tenant’s long-term obligations should be recognized as existing obligations. The practical significance of the study is determined by the possibility of reducing the level of debt in the balance of the parties to the lease transaction.

scholarly journals Diversification of Dairy Cow Milk Products: Case Studies in Sendang Village, Tulungagung Regency

2020 ◽  
pp. 127
Author(s):  
Pamuji Setyo Utomo ◽  
Endang Sapta Hari Sosiawati ◽  
Fauziyah Fauziyah
Keyword(s):  
Balance Sheet ◽  
Management Training ◽  
Production Equipment ◽  
Production Costs ◽  
Cow Milk ◽  
Accounting System ◽  
Dairy Farmers ◽  
Fresh Milk ◽  
Food And Beverage ◽  
And Training

Productivity of dairy farmers in Sendang Village could be done through coaching and training to dairy farmers in Sendang Village through the application of science and technology needed by dairy farmers, namely by providing pasteurization tools to process milk into various beverage products and products ready to be marketed. The expected targets and outputs in the PKM program are better management pattern system and a better accounting system, and Products produced (Beverage Flavored Milk Beef, Cheese, Ice Sticks, and Various Ice Cream Flavors). The steps taken in the community service program are dissemination to members of the cattle ranchers group regarding the benefits and benefits of management and production in the manufacture of milk beverage products; providing education and training on how to use pasteurization tools to process milk into a beverage product that has various flavors; and assistance creating product layouts, management training, accounting and marketing. The conclusions are the group of trained farmers have been able to carry out managerial activities in the business of making fresh milk-based food and beverage products; the group has been able to make a production layout, calculate the production costs and make a profit and loss statement and make a financial balance sheet report on the processing; the livestock groups have been able to plan the intended market and are able to determine the products to be marketed in a large capacity; and provision of production equipment assistance has increased the entrepreneurial capacity of dairy farmers in Sendang Village, Tulungagung Regency.

scholarly journals Techno-Economic Assessment for the Production of Algal Fuels and Value-Added Products: Opportunities for High-Protein Microalgae Conversion

2021 ◽  
Author(s):  
Matthew Wiatrowski ◽  
Bruno C Klein ◽  
Ryan W Davis ◽  
Carlos Quiroz-Arita ◽  
Eric C D Tan ◽  
...  
Keyword(s):  
Unsaturated Fatty Acids ◽  
Strong Dependence ◽  
Value Added ◽  
Hydrocarbon Fuels ◽  
High Protein ◽  
Production Costs ◽  
Selling Price ◽  
Economic Potential ◽  
Oxygenated Fuels ◽  
Mixed Alcohols

Abstract BackgroundMicroalgae possess numerous advantages for use as a feedstock in producing renewable fuels and products, with techno-economic analysis (TEA) frequently used to highlight the economic potential and technical challenges of utilizing this biomass in a biorefinery context. However, many historical TEA studies have focused on the conversion of biomass with elevated levels of carbohydrates and lipids and lower levels of protein, incurring substantial burdens on the ability to achieve high cultivation productivity rates relative to nutrient-replete, high-protein biomass. Given a strong dependence of algal biomass production costs on cultivation productivity, further TEA assessment is needed to understand the economic potential for utilizing potentially lower-cost but lower-quality, high-protein microalgae for biorefinery conversion. ResultsIn this work, we conduct rigorous TEA modeling to assess the economic viability of two conceptual technology pathways for processing proteinaceous algae into a suite of fuels and products. One approach, termed mild oxidative treatment and upgrading (MOTU), makes use of a series of thermo-catalytic operations to upgrade solubilized proteins and carbohydrates to hydrocarbon fuels, while another alternative focuses on the biological conversion of those substrates to oxygenated fuels in the form of mixed alcohols (MA). Both pathways rely on the production of polyurethanes from unsaturated fatty acids and valorization of unconverted solids for use as a material for synthesizing bioplastics. The assessment found similar, albeit slightly higher fuel yields and lower costs for the MA pathway, translating to a residual solids selling price of $899/ton for MA versus $1,033/ton for MOTU as would be required to support a $2.50/gallon gasoline equivalent (GGE) fuel selling price. A variation of the MA pathway including subsequent upgrading of the mixed alcohols to hydrocarbon fuels (MAU) reflected a required solids selling price of $975/ton.ConclusionThe slight advantages observed for the MA pathway are partially attributed to a boundary that stops at oxygenated fuels versus fungible drop-in hydrocarbon fuels through a more complex MOTU configuration, with more comparable results obtained for the MAU scenario. In either case, it was shown that an integrated algal biorefinery can be economical through optimal strategies to utilize and valorize all fractions of the biomass.

Rastin partnership accounting part I: general procedure

2019 ◽  
Vol 10 (4) ◽  
pp. 490-511
Author(s):  
Bijan Bidabad ◽  
Mahmoud Allahyarifard ◽  
Mahshid Sherafati
Keyword(s):  
Interest Rate ◽  
General Procedure ◽  
Balance Sheet ◽  
Value Added ◽  
Accounting System ◽  
Content Type ◽  
Practical Development ◽  
Intermediary Role ◽  
The Interest Rate

Purpose This paper aims to explain a new system of accounting for partnership financing that applies in Rastin profit and loss sharing banking. In this system, the interest rate is not used in calculations and accounting, and instead, the “time value” of capital based on the amount and duration of the partnership is used. Design/methodology/approach Rastin Partnership Accounting principles have been founded on off-balance-sheet items and on the basis of the institutions’ obligations to the depositors and receivers of financial resources, and they are in compliance with the nature of the financial intermediary activity (a partnership of depositor in the yields of the fund receiver via the bank). Findings The distribution of profit among stakeholders (including workforce and capital owners) is accomplished according to the share of each beneficiary in the created value added. In this regard, Euler’s theorem, as the best mathematical-economic innovation for distribution of income is applied. Research limitations/implications This system is novel, and it is required to be more elaborated for further practical development and adjustment. Practical implications In this accounting system, the return of the partnership is distributed among sharers based on the amount and duration of their partnership. The penalty for delay in payment is calculated from the amount of the incurred loss due to negligence or blameworthy of the undertaker and not upon a penalty interest rate. Social implications Interest rate as an essential factor in conventional accounting is not usable in Islamic banking and other similar institutions that work based on partnership, such as mutual funds and saving and loan associations. The proposed system removes this shortage and is fairer than the conventional accounting. Originality/value Approach of this accounting system is fully different from the conventional accounting because of intrinsic characteristics of the intermediary role of financial partnership institutions and Islamic banks.

Factors Affecting the Decision to Apply Material Flows Cost Accounting MFCA in Thai Nguyen Steel Production Enterprises

2020 ◽  
Vol 36 (3) ◽  
Author(s):  
Nguyen Thi Kim Huyen
Keyword(s):  
Production Process ◽  
Environmental Performance ◽  
Steel Production ◽  
Cost Accounting ◽  
Environmental Accounting ◽  
Production Costs ◽  
Accounting System ◽  
Material Flows ◽  
Factors Affecting ◽  
Legal Documents

Applying the Material Flows Cost Accounting method in Thai Nguyen steel enterprises is one of the solutions to improve the efficiency in the production process, using input materials, and environmental performance, as well as to measure more correctly the production costs based on the change of the price calculation basic. Identifying the factors which affect the decision on applying MFCA to the accounting process of Thai Nguyen steel production enterprises by a direct survey is carried out with 119 accountants and managers working at 13 steel enterprises. The results show that applying MFCA to the accounting process in these enterprises depends on the strategies, capacities, the accounting system of those enterprises, and the system of legal documents related to environmental accounting.

scholarly journals The Social Balance Sheet as Part of the Annual Report in Financial Institutions. A Case Study: Banco Bilbao Vizcaya Argentaria (BBVA)

2021 ◽  
Vol 13 (6) ◽  
pp. 3075
Author(s):  
Miguel Ángel Martín Valmayor ◽  
Beatriz Duarte Monedero ◽  
Luis A. Gil-Alana
Keyword(s):  
Annual Report ◽  
Economic Value ◽  
Balance Sheet ◽  
Value Added ◽  
Social Value ◽  
Economic Value Added ◽  
The Social ◽  
Social Balance ◽  
Corporate Social

In this paper, we examine the concept of the social balance sheet (SBS) and its evolution in corporate social reports that large companies have to issue today in their yearly statements. The SBS allows companies to evaluate their compliance with corporate social responsibility during a specific period and quantify its level of accomplishment. From a methodological perspective, this research analyzed the information that should be contained in the SBS report comparing economic value added (EVA) with other social value added statements (SVA), analyzing also in detail the case of Spain’s Banco Bilbao Vizcaya Argentaria (BBVA) bank as one of the pioneers in offering social reports. Along with this study, their metrics following EVA were recalculated and a more academic SVA statement was proposed for this specific case.

scholarly journals Examining the Role of Disruptive Innovation in Renewable Energy Businesses from a Cross National Perspective

Energies ◽  
2021 ◽  
Vol 14 (15) ◽  
pp. 4447
Author(s):  
Hokey Min ◽  
Yohannes Haile
Keyword(s):  
Renewable Energy ◽  
Natural Resources ◽  
Fossil Fuels ◽  
Weather Conditions ◽  
Disruptive Innovation ◽  
Production Costs ◽  
Developed Economies ◽  
Sustainable Value ◽  
National Perspective ◽  
The Impact

With a growing demand for safe, clean, and affordable energy, countries across the world are now seeking to create and rapidly develop renewable energy (RE) businesses. The success of these businesses often hinges on their ability to translate RE into sustainable value for energy consumers and the multiple stakeholders in the energy industry. Such value includes low production costs due to an abundance of natural resources (e.g., wind, water, sunlight), and public health benefits from reduced environmental pollution. Despite the potential for value creation, many RE businesses have struggled to create affordable energy as abundant as that which is produced by traditional fossil fuels. The rationale being that traditional RE sources emanating from natural resources tend to rely on unpredictable weather conditions. Therefore, to help RE businesses deliver sustainable value, we should leverage disruptive innovation that is less dependent on natural resources. This paper is one of the first attempts to assess the impact of disruptive innovation on RE business performances based on the survey data obtained from multiple countries representing both emerging and developed economies.

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