scholarly journals FINANCIAL AND ANALYTICAL ASPECTS OF RISK-ORIENTED APPROACH IN REGULATING AGENCIES PRACTICE

2017 ◽  
pp. 105-110
Author(s):  
Elvira Kondukova
Keyword(s):  
Financial Analysis ◽  
Business Environment ◽  
Regulatory Agencies ◽  
Control Analysis ◽  
State Control ◽  
Public Enterprises ◽  
Risk Criteria ◽  
Financial Audit ◽  
Analysis Application ◽  
Oriented Approach

The article considers the specific features of risk-oriented approach at State auditing service of Ukraine. Topic is up to date because of absence of commonly shared views at basic term’s content and list of risk criteria in processes of objects to be checked selection as well as scope and indicators of financial analysis during this procedure. It is important to underline, that in State Auditing Service (SAS) practice comprehensive financial analysis is supposed to be done at the next step which is the investigative stage of state financial audit. Author pays significant attention to category of risk in state control analysis, considering different approaches in business environment, regulatory agencies and independent audit. The substantial diversity in its perception is stated and recommendations to its unification are provided. First of all, it is necessary to differentiate risks on the side of object and on the side of subject of control. Author also studies the set of risk criteria for public enterprises and proposes the ways of its refinement considering the independent auditors experience. But risk criteria are not the only way of financial analysis application. Its main scope is applicable at the stage of pre-audit analysis. It is concluded that financial analysis scope, methodic and procedures require regulatory adjustment because of special aim, tasks and approaches in state financial audit. The article is supposed to be useful for academicians and professionals working at State Auditing Service of Ukraine.

scholarly journals Entrepreneurial subjects in forestry and data mining from accounting data in the Czech Republic

2004 ◽  
Vol 52 (5) ◽  
pp. 131-146
Author(s):  
Zbyněk Šmída
Keyword(s):  
Data Mining ◽  
Czech Republic ◽  
Financial Analysis ◽  
Business Environment ◽  
Financial Statement ◽  
State Enterprise ◽  
Ratio Analysis ◽  
Volume Data ◽  
Accounting Data ◽  
The Czech Republic

Forests owned by the state in the Czech Republic are managed by Forests of the Czech Republic, state enterprise with its headquarters in Hradec Králové. The private companies (established during the economic reform in 1992 and privatization in 1994) carry out silvicultural and logging activities in state forests on the basis of contracts. This study is focused on forest enterprises (contractors); the current situation of business environment in the Czech Republic was studied. There have been found 38 236 forestry entrepreneurs in the Czech Republic, and divided according to legal title, to numbers of employees onto groups on the basis of size and availability of their accounting data in the first part of the article.The second part deals with data mining from accounting by a process known as a Financial statement analysis, which has to make an informed decision for owners or managers of the enterprise. Ratio analysis is regarded as the basic methodical instrument of financial analysis. Ratio analysis effectively summarizes multiple financial statement categories into few relative indices of performance and financial position. It is powerful method for managing with the complexity and volume data presented in financial statements. The relative indices converse financial statement categories into measures and it helps control for differences across companies and across time. This article contains chosen forestry contractors and describes the most useful economic indicators (ratios) and takes into account possible utilization in the sector generally.

scholarly journals Strategic management controlling system and its importance for SMEs in the EU

2020 ◽  
Vol 18 (3) ◽  
pp. 362-372
Author(s):  
Miroslav Pavlák ◽  
Přemysl Písař
Keyword(s):  
Strategic Management ◽  
Financial Analysis ◽  
Business Environment ◽  
The European Union ◽  
Term Stability ◽  
Long Term Stability ◽  
Controlling System ◽  
Depth Analysis ◽  
The University

The current hyper-competitive environment offers many great opportunities for small and medium-sized businesses (SMEs), but on the other hand, this business environment is also hazardous. SMEs are a significant economic power and employer in the European Union. Their competitiveness and long-term stability are a crucial factor for European cohesion and economic growth. The research aim is to design a strategic management controlling system that should be implemented to SMEs and be useful for their long-term future development. The study was conducted in 2017–2020 based on data from 403 SMEs. The PAPI method was used to collect data. The implications between defined variables controlling, ROA, turnover, financial analysis, and strategic management were explained, and the results obtained from an in-depth analysis were indicated. The research was concluded by a model of strategic management controlling system tested by experimental in-practice implementation on SMEs and verified. The model and the research findings are suitable for business practice and should support the long-term stability and development of SMEs. AcknowledgmentThe paper has been prepared within the project “Risk Management in Industry 4.0” (7427/2019/02 IGA VŠFS) using the objective oriented support for specific university research of the University of Finance and Administration.

Identifying and Coping with Balance Sheet Differences: A Comparative Analysis of U.S., Chinese, and French Oil and Gas Firms Using the “Statement of Financial Structure”

2007 ◽  
Vol 22 (4) ◽  
pp. 591-606
Author(s):  
Yuan Ding ◽  
Gary M. Entwistle ◽  
Hervé Stolowy
Keyword(s):  
Oil And Gas ◽  
Financial Analysis ◽  
Balance Sheet ◽  
Financial Structure ◽  
The United States ◽  
Business Environment ◽  
Business World ◽  
National Boundaries ◽  
Local Business Environment ◽  
Oil And Gas Firms

In a globalized business world it is often necessary to compare companies across national boundaries. This comparison often includes an examination of financial statements. While the harmonization of accounting standards continues to progress, there still remain differences in how accounting information is reported between companies located in different countries, especially with regard to the format used to present the balance sheet. It is consequently important that students be able to both identify these differences, and have a method for coping with them. Using three oil and gas firms from three different countries (Exxon in the United States, Sinopec in China, and Total in France), this paper provides a setting for students to identify differences in balance sheet formats across countries. The paper then introduces a standardizing model—the Statement of Financial Structure—that enables students to cope with these differences. In working with this Statement, students develop their financial analysis skills. In particular, the concept of working capital is reinforced, as is the importance of understanding the local business environment in order to interpret the numbers and ratios within the proper context.

Public Morals with Chinese Characteristics: Explaining China’s Adoption of WTO Rules

2013 ◽  
Vol 41 (3-4) ◽  
pp. 333-351
Author(s):  
Chieh Huang
Keyword(s):  
World Trade ◽  
Theoretical Perspective ◽  
State Control ◽  
Political Decision ◽  
Competing Interests ◽  
Theoretical Approaches ◽  
Chinese Characteristics ◽  
Communist Government ◽  
Political Decision Making ◽  
Oriented Approach

Abstract This article examines China’s compliance with World Trade Organization (WTO) law in the field of publications control from an empirical and theoretical perspective. The study of publications control — a policy field of critical concern to China’s Communist government — highlights the competing interests and ideas over ‘liberalisation’ and ‘state control’ within the Chinese leadership and within WTO circles. The article, first, describes these competing and historically shifting interests and ideas in the case of a recent landmark WTO dispute on publications control and, second, uses two apparently distinct IR theoretical approaches to explain China’s behaviour during the dispute. The article argues that neither an interest-oriented approach nor an idea-centred approach by themselves can explain Chinese political decision-making. The article proposes a combination of two particular views that help to explain the dispute examined but also China’s interactions with the WTO more generally.

scholarly journals Development of internal control and audit in Ukraine

2021 ◽  
Vol 12 (6) ◽  
pp. s376-s390
Author(s):  
Olena Antoniuk ◽  
Natalia Koval ◽  
Svitlana Savitska ◽  
Yaroslavna Mulyk ◽  
Natalya Kuzyk ◽  
...  
Keyword(s):  
Health Care ◽  
Internal Control ◽  
National Level ◽  
Internal Audit ◽  
The State ◽  
State Control ◽  
Health Care Institutions ◽  
Role Of The State ◽  
State Audit ◽  
Financial Audit

Control plays an important role in ensuring the efficient use of funds, both public and business sectors of the economy. The purpose of the article is to consider the role of the State Audit Service of Ukraine in the implementation of financial state control. The study is based on the analysis of reports of the State Audit office of Ukraine on the results of state financial audits of health care institutions, which last took place in 2019. The analysis of the reports of the Ministry of Finance of Ukraine allowed to establish the effectiveness of the state financial audit at the national level during last three years. The article provides answers to the following questions: i) what tasks are performed by the State Audit office of Ukraine; ii) features of external and internal audit of public sector entities in Ukraine; iii) the effectiveness of internal audit at the national level on the basis of state financial audits; iv) problematic issues of internal audit development on the example of health care institutions; v) the main directions of development of the state internal audit in Ukraine.

scholarly journals The Regulatory Guillotine as a Mechanism for Deregulation and Anti-Corruption

2020 ◽  
pp. 7-31
Author(s):  
Egor A. Artemenko ◽  
◽  
Keyword(s):  
Economic Activity ◽  
State Regulation ◽  
Regulatory Agencies ◽  
State Control ◽  
Protected Values ◽  
The Usa ◽  
Potential Risks ◽  
Domestic Practice ◽  
Federal Laws ◽  
And Control

The article examines the implementation of the “regulatory guillotine” reform as a method of state deregulation, reduction of administrative barriers to economic activity, elimination of excessive and outdated mandatory requirements that can cause corruption risks in the interaction of regulatory authorities and business. The main aim of the study is to assess the system of state deregulation measures implemented in certain areas within the framework of the regulatory guillotine, including the development of new structures of state regulation in certain areas and types of state control (supervision), the development of new mandatory requirements in terms of ensuring the connection of mandatory requirements with potential risks of harm, damage, protected values and sources of risk. The article also aims to identify the main risks of implementing the reform. The source of empirical data was Federal Laws No. 247-FZ and 248-FZ adopted on July 31, 2020, drafts of normative legal acts containing mandatory requirements, drafts of new regulatory structures in certain areas developed by regulatory agencies and control and supervisory bodies, methodological materials, positions of scholars and economists on the prospects for the reform, foreign experience of deregulation and implementation of the regulatory guillotine in particular. The article presents the countries’ experience of implementing the regulatory guillotine (South Korea, Croatia, Kenya, and some deregulation initiatives in the USA) in order to analyze the possibility of its application in domestic practice. Based on the research, a number of conclusions are made about the implementation of the reform in terms of deregulation, institutional measures to combat corruption, the “bottlenecks” of the implementation of the reform, the risks of not achieving the goals, and possible ways to minimize them.

scholarly journals A Discount Technique-Based Inventory Management on Electronics Products Supply Chain

2021 ◽  
Vol 14 (9) ◽  
pp. 398
Author(s):  
Md. Sujan Miah ◽  
Md. Mominul Islam ◽  
Mahmudul Hasan ◽  
Abu Hashan Md. Mashud ◽  
Dipa Roy ◽  
...  
Keyword(s):  
Inventory Management ◽  
Capital Investment ◽  
Financial Risk ◽  
Financial Analysis ◽  
Optimization Technique ◽  
Optimal Strategies ◽  
Business Environment ◽  
Selling Price ◽  
Electronic Products ◽  
Financial Decisions

Inventory management is becoming very challenging for the retailer over the years due to the uncertainty in the demand and supply of products in financial risk and management systems. In a competitive market, running a business smoothly in a highly suitable place is day by day becoming tough due to the very high fare for those locations. Thus, limited storage is available in those elite places with high fares, and a retailer takes a financial risk by stocking huge amounts of products in those limited storage stores. Thus, the appropriate financial analysis is required to find out optimal strategies (financial decisions) to sustain a business organization of electronic products in a global competitive business environment. As a result, when bulk purchases of electronic products, for example, T.V., Fridges, Oven, etc., have been made by the retailer, he faces two problems. The first one is related to the limited storage; as a result, he has to pay a considerable amount to hold the products for a long time. The second one is shortages of liquid money as he invested massive amounts. To avoid these problems, he offers some price discounts on the market’s original selling price to sell the products quickly for a limited time prior to recovering his capital investment. For that reason, a price, time, and stock dependent realistic demand function have been considered in this proposed paper with two modes of discount policy. The proposed model has been solved by a classical optimization technique from calculus and provides some insights for the retailer. Some numerical examples and graphs are provided to illustrate the model.

Modeling the Budgeting Process: Enriching the Learning Environment Using Monte Carlo Simulations

2012 ◽  
Vol 7 (1) ◽  
pp. 53-67 ◽  
Author(s):  
Jim Mensching ◽  
Steven J. Adams ◽  
Lorraine Gardiner ◽  
Nancy Jones
Keyword(s):  
Monte Carlo ◽  
Probabilistic Models ◽  
Business Processes ◽  
Financial Analysis ◽  
Discrete Event ◽  
Object Oriented ◽  
Financial Statements ◽  
Business Environment ◽  
Accounting Information Systems

ABSTRACT This paper discusses the development and use of a budgeting case study and an object-oriented modeling tool to introduce the concept of uncertainty and risk in financial analysis to students in upper-division accounting information systems classes. The emphasis is on teaching the concepts involving probabilistic budgeted financial statements using an object-oriented, discrete event, Monte Carlo simulation model of a simplified business environment. Teaching materials have been developed and tested in an advanced AIS course typically taught to senior or graduate-level students. Assignments are designed to assist students in understanding probabilistic models of business planning, and specifically, in development of budgeted financial statements, to create a stronger understanding of the interrelation of business processes and to expose students to business modeling via simulations.

A Security Blueprint for E-Business Applications

2011 ◽  
pp. 80-94
Author(s):  
Jun Du ◽  
Yuan-Yuan Jiao ◽  
Jianxin (Roger) Jiao
Keyword(s):  
Operating Systems ◽  
Process Analysis ◽  
Business Environment ◽  
Control Analysis ◽  
Management Process ◽  
Business Architecture ◽  
Business Applications ◽  
Security Control ◽  
Physical Access

This chapter develops a security blueprint for an e-business environment taking advantage of the three-tiered e-business architecture. This security blueprint suggests best practices in general. It involves (1) security control by layers — from physical access, to network communication, to operating systems, to applications, and (2) different stages of the management process, including planning, deployment, administration, and auditing. Also reported is a case study of the implementation of the proposed security blueprint in a Singapore multinational corporation. Such issues as security control analysis, management process analysis, and cost-benefits analysis are discussed in detail.

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