scholarly journals The importance of operating agricultural equipment in use by fair value from the management situation in small and medium-sized enterprises in the transitional country: Example of the Republic of Serbia

2021 ◽  
Vol 46 (1) ◽  
pp. 1-6
Author(s):  
Jelena Vitomir ◽  
Sonja Tomaš-Miskin ◽  
Slobodan Popović
Keyword(s):  
Real Life ◽  
Financial Statements ◽  
Fair Value ◽  
Transition Countries ◽  
Agricultural Producers ◽  
Agricultural Equipment ◽  
Transitional Country ◽  
Real Value ◽  
The Republic ◽  
Fair Valuation

This study highlights the importance of using real-life values of agricultural equipment in real financial statements in medium-sized enterprises. The authors have adopted the essence of nature related to the estimation of agricultural equipment, that is, he has stated that in the agricultural production of transition countries, agricultural equipment has been used for more than five decades. This was a key assumption adopted by the authors of this study. In addition, the presentation of realistic financial statements should include an account of the real value of agricultural equipment, which essentially leads to a periodic fair valuation of agricultural equipment available to agricultural producers in transition countries.

scholarly journals ФОРМУВАННЯ ОБЛІКОВОЇ ПОЛІТИКИ ЗА ПРИНЦИПОМ БЕЗПЕРЕРВНОСТІ ДІЯЛЬНОСТІ ПІДПРИЄМСТВ

2021 ◽  
pp. 74-81
Author(s):  
Олена Сергіївна Юрченко
Keyword(s):  
Financial Reporting ◽  
Information Needs ◽  
Accounting Standards ◽  
Financial Statements ◽  
Fair Value ◽  
The Real ◽  
Real Value ◽  
The Impact ◽  
Accounting Policy

Formulation of the problem. Based on the study, the prerequisites, features and components of the formation of accounting policies in the context of business continuity are revealed. The purpose of the article is to substantiate the theoretical and methodological and organizational provisions of accounting policy formation in the context of the implementation of the concept of continuity. The object of research is the process of formation of accounting policy and its impact on the quality of corporate financial reporting information. Methods used in the study: scientific knowledge, method of generalization, comparison, logical - meaningful, methods of induction and deduction. The main hypothesis is that the formation of accounting policies aimed at determining the regulations of accounting and reporting from the standpoint of reflecting complete and reliable information about the real value of assets and liabilities will help reconcile the interests of all stakeholders. Presenting main material. The article identifies the prerequisites, directions and elements of the formation of accounting policies on the principle of continuity of enterprises. Provisions on the development of theoretical and methodological foundations for the formation of accounting policies of enterprises on the basis of risk-oriented approach are revealed. The necessity of valuation of assets and liabilities according to the criteria: fair, discounted and market value of enterprises is substantiated and the methodological support of valuation of financial instruments in accounting is revealed. Originality and practical significance are proposals for the formation of methodological and organizational support and recommendations for the measurement of assets and liabilities at fair value in order to improve the quality of financial statements. Research findings. The formation of accounting policy in the context of the principle of continuity is based on the requirements of International Accounting Standards and National Accounting Standards and depends on the needs of management, methods and techniques of accounting. In the process of developing an accounting policy, it is necessary to take into account the information needs of various stakeholders to disclose information in corporate financial statements. The introduction of theoretical and methodological provisions for the formation of elements of accounting policy on the principle of continuity will meet the information needs of different users, improve the quality of financial reporting and assess the impact of accounting policies on the real value of enterprises in the future.

scholarly journals Management of joint-stock companies and farms by using fair value of agricultural equipment in financial statements on the example of IMT 533 tractor

2019 ◽  
Vol 66 (1) ◽  
pp. 35-50 ◽  
Author(s):  
Milan Radović ◽  
Jelena Vitomir ◽  
Bogdan Laban ◽  
Slobodanka Jovin ◽  
Sanda Nastić ◽  
...  
Keyword(s):  
Financial Statements ◽  
Fair Value ◽  
Agricultural Equipment

Incentives of the State to promote the retrofitting of the agricultural sector: Regional considerations

2020 ◽  
Vol 16 (6) ◽  
pp. 1101-1113
Author(s):  
M.Sh. Gutuev ◽  
B.Sh. Ibragimova
Keyword(s):  
Agricultural Sector ◽  
Animal Husbandry ◽  
Technological Equipment ◽  
Agricultural Producers ◽  
Agricultural Technologies ◽  
Abstract Logic ◽  
Land Cultivation ◽  
Equipment Acquisition ◽  
Acquisition Costs ◽  
The Republic

Subject. The article discusses the availability of technological equipment in the agriculture of the Republic of Dagestan. Objectives. We analyze the current situation and trends in the development of available technological equipment in the republican agriculture, identify the role and place of machine and tractor fleet in the retrofitting of the regional agriculture. Methods. The study is based on monographic, abstract logic, statistical, analytical methods. Results. Dagestan has got a critically few technological equipment, which affects the development of the regional agricultural sector. The availability of technological equipment is found to have dramatically reduced in animal husbandry for the recent 30 years. The availability of technological equipment and land cultivation strongly correlates, thus simplifying applicable agricultural technologies. Most agricultural producers of Dagestan were found to be unable to participate in the program for federal agricultural lease. Conclusions and Relevance. The deterioration of available technological equipment in agriculture is a key cause undermining the competitiveness of products and efficiency of the regional agriculture. We prove the importance of governmental actions incentivizing the influx of new technological equipment, including a set of measures reinforcing the availability of technological equipment. As long as most agricultural producers are microbusinesses that lack resources to participate in many machine renovation programs, funding should be increased substantially to subsidize a portion of equipment acquisition costs incurred by agricultural producers, and a portion of reimbursed costs as much as at least 50 percent of the value of agricultural machines acquired.

CURRENT STATE AND PROSPECTS FOR THE DEVELOPMENT OF BIOGAS ENERGY IN UZBEKISTAN

2020 ◽  
Vol 2 (7) ◽  
pp. 171-184
Author(s):  
Z. U. SAIPOV ◽  
◽  
G. A. ARIFDZHANOV ◽  
Keyword(s):  
Renewable Energy ◽  
Organic Waste ◽  
Agricultural Sector ◽  
Renewable Energy Sources ◽  
Energy Resources ◽  
Agricultural Producers ◽  
Biogas Plants ◽  
The Republic ◽  
Rural Producers ◽  
Agricultural Regions

Energy is one of the main pillars of the state’s economy, which is currently facing serious problems due to depletion of mineral energy resources and the threatening environment. As a result, presently around the world there is a rapid growth and development of energy-efficient technologies and the use of renewable energy sources (RES), providing an increase in energy resources, as well as environmental and social effects. One of the most relevant and promising areas of renewable energy development is the disposal and processing of organic waste in biogas plants, and this is particularly relevant in agricultural regions. In this regard, this paper considers the state and prospects for the development of bioenergy in agricultural regions of Uzbekistan, where half of the population of the republic lives. The potential of organic waste from livestock and poultry farming of the agricultural sector was determined, and it was revealed that the use of biogas plants for the disposal of manure and litter is clearly a profitable production and requires close attention from rural producers. The introduction of biogas technologies for the bulk of agricultural producers is an urgent task, that will ensure not only a solution to the waste problem, but it will also provide a solution to energy, agricultural, environmental and social problems in rural regions of the republic.

The expectation differences among stakeholders in the financial valuation fitness of auditors

2016 ◽  
Vol 17 (1) ◽  
pp. 43-60 ◽  
Author(s):  
James Anthony DiGabriele
Keyword(s):  
Response Bias ◽  
Financial Statements ◽  
Fair Value ◽  
Content Type ◽  
Financial Valuation ◽  
University Curriculum ◽  
Expectation Gap ◽  
Significant Difference ◽  
Accounting Practitioners ◽  
Market Expectations

Purpose – The purpose of this paper is to investigate if there is an expectation gap among accounting academics, accounting practitioners, and users of financial statements in the financial valuation fitness of auditors. Complex reporting standards and current market expectations have the potential to create differences between what third-party users consider to be the responsibilities of the auditor and what auditors believe to be their responsibilities in auditing fair value estimates. Design/methodology/approach – This study surveys the perceptions of accounting academics, accounting practitioners, and users of financial statements and the degree to which an expectation gap exists in the financial valuation fitness of auditors. Survey respondents chose from a five-point Likert scale ranging from “strongly agree” to “strongly disagree.” Findings – This paper proposes two hypotheses. The results for all nine survey items have provided significant evidence that there is a difference in the expectation of the financial valuation fitness of auditors between users of financial statements and accounting practitioners (H1). Additionally, the findings for all survey items present support there is a significant difference in the expectation of the financial valuation fitness of auditors between accounting academics and users of financial statements (H2). Research limitations/implications – A limitation of the current study, as an inherent attribute with survey research, is non-response bias. The only way to evaluate this was to test late responses to earlier results. There were no significant results in these analyses. According to Fink (2003), if there are no significant differences in this indicator the likelihood of non-response bias is extremely low. Hence, this limitation did not have serious implications on the current study. Practical implications – The implications of this study affect the accounting academic community as they prepare students in response to the evolving market expectations (Pan and Perera, 2012). Previous research has pointed toward the sluggish reaction for change in the accounting curriculum relative to external demands (Harvey, 2004; Pan and Perera, 2012). The results of this study also have resonating effects for accounting practitioners. The marketplace expects accountants to be “knowledge professionals” (Carnegie and Napier, 2010). Regulators continue to ask auditors to find more fraud and understand financial valuation (Pan and Perera, 2012). Social implications – Contemporary accounting practice is moving beyond the scope of quantitative recording of historical financial information. Ignoring integral market transformations could result in lower quality audits with corresponding increased litigation against auditors for negligence (Pearson, 2011). Originality/value – This study is important for several reasons. First, users of financial statements have expressed the necessity for auditors to acquire financial valuation skills (Christensen et al. (2012). Therefore, the evidence obtained from users of financial statements in this research will be critical guidance to reconcile expectations. Second, accounting educators have not provided a significant response to teaching fair value concepts in the university curriculum (Carlino, 2012; Hanson, 2013). This research presents a clarion call to accounting educators to align university curriculum toward market expectations (Christensen et al., 2012). Third, the practitioner community has also been criticized for audit deficiencies in fair value. It is critical to understand if additional training in financial valuation is necessary to improve the fair value judgments of practitioners and meet stakeholder’s expectations. Accordingly, the study provides a contribution to practice. Finally, this paper answers the call by Christensen et al. (2012) for future research on the topic of fair value: to “mirror the categories of recommendations of regulators and standard setters.”

scholarly journals SOSerbia: Android-Based Software Platform for Sending Emergency Messages

Complexity ◽  
2018 ◽  
Vol 2018 ◽  
pp. 1-9
Author(s):  
Mihailo Jovanovic ◽  
Ivan Babic ◽  
Milan Cabarkapa ◽  
Jelena Misic ◽  
Sasa Mijalkovic ◽  
...  
Keyword(s):  
Emergency Response ◽  
State Of The Art ◽  
Complete Solution ◽  
Real Life ◽  
Android Application ◽  
Unique Combination ◽  
Background Process ◽  
Life Problems ◽  
The Republic ◽  
National Police

This paper presents Android-based SOS platform named SOSerbia for sending emergency messages by citizens in Serbia. The heart of the platform is SOS client Android application which is an easy and simple solution for sending SOS messages with unique combination of volume buttons. The proposed platform solves a lot of safety, security, and emergency problems for people who can be in dangerous situations. After a person presses a correct combination of buttons, a message with his or her location is sent to the operating center of the Serbian Police. The platform merges several appropriately combined advanced Android technologies into one complete solution. The proposed solution also uses the Google location API for getting user’s location and Media Player broadcast receiver for reading pressed buttons for volume. This logic can be also customized for any other mobile operating system. In other words, the proposed architecture can be also implemented in iOS or Windows OS. It should be noted that the proposed architecture is optimized for different mobile devices. It is also implemented with simple widget and background process based on location. The proposed platform is experimentally demonstrated as a part of emergency response center at the Ministry of Interior of the Republic of Serbia. This platform overcomes real-life problems that other state-of-the-art solutions introduce and can be applied and integrated easily in any national police and e-government systems.

The Relationship between Fair Value Accounting and Presence of Manipulation in Financial Statements

2014 ◽  
Vol 4 (1) ◽  
pp. 221
Author(s):  
Laith Abdullah Alaryan ◽  
Ayman Ahmad Abu Haija ◽  
Ali Mahmoud Alrabei
Keyword(s):  
Business Ethics ◽  
Financial Statements ◽  
Fair Value ◽  
Policy Implications ◽  
Annual Reports ◽  
Fair Value Accounting ◽  
Before And After ◽  
The Face ◽  
The Relationship ◽  
Number Of Firms

The application of fair value has started early in Jordan, which was a bone of contention among supporters and opponents. This study came to provide empirical evidence on the relationship between fair value and financial manipulation. The study extracted data from 45 companies’ annual reports during a ten-year period (1997- 2006) five years before and after the application of fair value to examine the relationship among the application of fair value accounting and the presence of manipulation in financial statements. The result indicates that the number of firms that manipulated information in the financial statements had increased after applying fair value accounting. The results have policy implications, one of which is that the Jordanian government should either enact new regulations or modify the current regulations in the face of an increasing number of manipulations by firms after the application of fair value accounting. These regulations are needed to increase both the managements’ and accountants’ responsibility towards the firms and to enhance the business ethics of the organization.

scholarly journals INTANGIBLE ASSETS IN THE CONSOLIDATED FINANCIAL STATEMENTS OF SERBIAN AND SLOVENIAN LISTED COMPANIES: A PRELIMINARY OVERVIEW OF THE REPORTING PRACTICES

TEME ◽  
2018 ◽  
pp. 167
Author(s):  
Dejan Spasić ◽  
Anton Vorina
Keyword(s):  
Intangible Assets ◽  
Stock Exchange ◽  
Financial Statements ◽  
Listed Companies ◽  
Consolidated Financial Statements ◽  
Reporting Practices ◽  
Reporting Practice ◽  
Survey Results ◽  
Business Combination ◽  
The Republic

The aim of the research is to achieve a conclusion what is the level of the reporting practice on intangible assets in two countries - in the Republic of Serbia and in the Republic of Slovenia trough a comparative descriptive statistics. Consolidated financial statements of listed companies in these two countries were used from the Belgrade Stock Exchange (Serbia) and the Ljubljana Stock Exchange (Slovenia). The reason for the use of consolidated financial statements lies in the fact that they can contain unconsolidated intangible assets already recognized in the separate financial statements of the companies included in the group, as well as internally generated intangible assets that meet the conditions for recognition in a business combination (including Goodwill). The general assessment is that the survey results indicate a very low level of reporting practice of intangible assets in Serbia and relatively satisfactory level of reporting practice in Slovenia. Individual results are given in the fourth part of the paper. 

scholarly journals EARNINGS MANAGEMENT AS A MANIPULATIVE FORM OF FINANCIAL REPORTING

2019 ◽  
Vol 34 (5) ◽  
pp. 1323-1328
Author(s):  
Marija Milojičić ◽  
Snežana Knežević ◽  
Aleksandar Grgur
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Financial Analysis ◽  
Balance Sheet ◽  
Financial Statements ◽  
Legal Framework ◽  
Business Decisions ◽  
Accounting Principles ◽  
The Republic

The financial statements, as the end product of the accounting information system, are a structural account of the financial position and financial success of an entity's business over a period. Earnings or net profit indicates an important position in the financial statements and is considered as a measure of a company’s success. Earnings management comes from the accounting skills that executives and business owners use when making business decisions. The Generally Accepted Accounting Principles set out in International Accounting Standards (hereinafter IAS) and International Financial Reporting Standards (hereinafter referred to as IFRS) generally give the owner or manager the choice between several accounting methods within the various stages of the accounting process. One of these methods is creative accounting, which is often correlated with the manipulation of financial statements. Creativity in accounting is known to be legal and to stay within the legal framework, but it is often the case that, with its creativity, it is beyond its boundaries. The way managers exercise this discretion is very important to the quality and objectivity of financial reporting.The tendency of the owners, and then the managers, to show the performance of the company better than they really are, is certainly not new. The reason that in the world from the beginning of the 2000s to the present day, both by the scientific and professional public and by the regulatory bodies in charge of financial reporting, particular attention is paid to this problem are the major political and economic scandals caused by the inaccurate presentation of financial statements. It is considered that manipulative accounting practices are applied in the preparation of financial statements when the application of accounting principles is made with the intention of achieving the desired objective, such as, for example, generating greater profit regardless of whether the procedures selected are in accordance with international and local prescribed rules.The prevalence of manipulation of financial statements depends on the situation in the environment, the quality of the normative basis of financial reporting, the quality of management and the ability of accountants to comply with professional and ethical standards. The environment implies the general economic situation, the existence or absence of appropriate legislation, including its implementation, as well as the relation to tax liabilities.The result of the original empirical research is presented in this paper. The research was conducted in the form of a case study of a domestic business entity (the Republic of Serbia), whose main activity is trade in sports and fashion products. The financial analysis was performed using the Beneish model, which was derived from the official financial statements of the companies, collected from publicly available databases (Balance Sheet and Income Statement 2016-2018) as the basic information base in order to discover the degree of possible manipulation of their own earning capacity. This model has become particularly popular since the Beneish M-scoring model revealed the manipulation of the financial results of the US company Enron, which went bankrupt in 2001.

scholarly journals MONEY LAUNDERING RISK ASSESSMENT REGARDING THE ACCOUNTING PROFESSION

2021 ◽  
Author(s):  
Tajana Petrović ◽  
◽  
Sonja Cindori ◽  
Keyword(s):  
Money Laundering ◽  
National Level ◽  
Financial Statements ◽  
Risk Assessments ◽  
Legal Regulations ◽  
A Posteriori ◽  
Accounting Profession ◽  
Creative Accounting ◽  
The Republic ◽  
Illegal Activities

The assessment of money laundering and terrorist financing risks is conducted at the supranational and national level, including risk factors and risk variables. Based on the mentioned, the accounting profession is required to provide risk assessments at the level of obliged entities, which results in suspicious transactions reports. The number of suspicious transactions reported in the Republic of Croatia, as well in the world, is notably small, which speaks in favor of insufficient awareness of the threats posed by such conduct. The susceptibility of the accounting profession to illegal actions through the possibility of adjusting financial statements within the framework of creative accounting is evident, while due to non-compliance with legal regulations, unprofessionalism, and unethical needs, there is a need for forensic accounting. The peculiarities of the accounting profession support its ambiguous role in the detection of money laundering and other illegal activities, however, such measures are always implemented a posteriori.

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