Cost accounting in family SMES as a factor to guarantee their stability and permanence / La contabilidad de costos en las PYMES familiares como factor para garantizar su estabilidad y permanencia

This work aims to analyze the barriers that are perceived as obstacles for family SMEs (Small and Medium Enterprises) to implement and consider cost accounting; detecting the benefits obtained in the adoption of a cost system and the existing relationship between performance and degree of use of cost management control techniques, with their permanence and generation of profits. The study was carried out with 90 family SMEs from the business line of the city of Mexicali, Mexico. The results show that the most important barriers to implementing cost accounting and management techniques are: The perception that they increase the work of accounting staff and the lack of cost specialists within the company. Among the expected benefits, when introducing new management systems, is to achieve accuracy in the information on the profitability of the product and obtain a reduction in costs in the company.

Product Line Diversification and Its Impact on Firm Performance

The objective of the study is to measure product diversification’s impact on insurance firm’s financial performance in Pakistan. Analysis are carried out to examine how ownership structure, capitalization, group membership, firm size, diversification across business lines, industry concentration affects firm’s financial performance. Data from 2009-2019 is collected to measure the impact of diversification (entropy) on the risk- adjusted returns. Findings of the study reveal that business line diversification has strong positive effect on firm performance (for both ROA and ROE) which means that diversified firms perform better than non-diversified firms. For managers these findings are useful as they propose the need for diversification, capitalization, increase in size and group affiliation to enhance firm profitability.

Kompleksitas Perusahaan, Client Importance dan Volatilitas Idiosinkratik

This study examines the influence between company complexity and client importance on idiosyncratic volatility. The research sample are listed companies in all industries except financial services and banking for period 2014-2018. The dependent variable is idiosyncratic volatility, while the independent variable is company complexity and client importance. Multiple linear regression was used to test. The results showed that there was a significant positive effect of client importance on the dependent variable and a significant negative effect on company complexity on the dependent variable. This means that business line information and auditor-related factors are a signal for investors to react to company shares. Keywords: Complexity Of The Company; Client Importance; Idiosyncratic Volatility.

STUDENT’S INDIVIDUAL EDUCATIONAL PATH: THE ESSENCE AND KEY ASPECTS OF ORGANIZATION

The article reviews the essence of an individual educational path, defines its peculiarities, and provides its theoretical justification for higher education pursuers. The author researches the legislative basis that secures students’ right to learn following an individual educational path. The analysis encompasses various approaches to understanding the notion of an “individual educational path” and the international practice of individualizing education in higher educational establishments. It focuses on the main principles to follow when developing an individual educational path for students. Also, it describes an interconnection between the individualization of education and the scientific research activities performed by the students.The actuality for in-depth study of this topic is caused by numerous social factors that promote a higher school reform. One of the grounds for the reform is the need to individualize higher education, which can make the quality of training specialists meet the new social and professional reality. The principle of individualized education is implemented through a free choice of types, forms and paces of pursuing education, of academic disciplines and their levels, of learning methods and media. The students’ search of conditions and ways to follow individual educational paths is becoming an important business line for Ukrainian universities. By choosing, building and following an individual educational path, a student is able to develop the universal and professional competences that are highly demanded in modern society.The conducted research proves that an individual educational path allows a student to fulfill their own individual needs, master the competences necessary for the future professional activities, which would make them stand the competition on the labour market.The author insists that a student’s individual educational path should be explored in the widest extent possible, whereas mastering competences is mandatory both for starting a career, and for pursuing further professional path. The individualization of education requires building a straight-line logical system with the main aim being a student and an effective organization of educational work therewith.Key words: individual educational path, individualization of education, higher education, student, individ-ual education plan, individual approach. У статті розглянуто сутність індивідуальної освітньої траєкторії, визначено її особливості та теоретично обґрунтовано доцільність побудови для здобувачів вищої освіти. Досліджено законодавчу базу, що закріплює право студентів на навчання за індивідуальною освітньою траєкторією. Проаналізовано різні підходи до трактування поняття «індивідуальна освітня траєкторія» та міжнародний досвід індивідуалізації навчання в закладах вищої освіти. Також акцентовано увагу на основних принципах, яких варто дотримуватися під час розроблення індивідуальної освітньої траєкторії студентів. Описано взаємозв’язок індивідуалізації навчання та наукової діяльності здобувачів освіти.Актуальність поглибленого вивчення цієї теми викликана низкою соціальних чинників, що стимулюють реформування вищої школи. Однією з підстав реформ є необхідність індивідуалізації вищої освіти, що може забезпечити відповідність якості підготовки фахівців новим соціальним і професійним реаліям. Принцип індивідуалізації навчання реалізується через вільний вибір видів, форм і темпу здобуття освіти, навчальних дисциплін та рівня їхньої складності, методів і засобів навчання. Пошук умов і шляхів реалізації індивідуальних освітніх траєкторій студентів стає важливим напрямом діяльності українських університетів. Вибір, побудова та реалізація індивідуальної освітньої траєкторії дають змогу здобувачу освіти розвивати саме ті універсальні та професійні компетентності, які мають попит у сучасному суспільстві.В ході дослідження доведено, що індивідуальна освітня траєкторія дає студенту можливість реалізувати свої індивідуальні потреби, опанувати необхідні для майбутньої професійної діяльності компетентності, які забезпечать йому конкурентоспроможність на ринку праці.З’ясовано, що індивідуальну освітню траєкторію студента потрібно розглядати в максимально широкому сенсі, оскільки оволодіння компетентностями є необхідною умовою і для старту кар’єри, і для продовження професійного шляху. Для індивідуалізації навчання потрібно вибудувати чітку та логічну систему, в якій головним орієнтиром є студент, а також ефективна організація навчально-виховної роботи з ним.Ключові слова: індивідуальна освітня траєкторія, індивідуалізація навчання, вища освіта, студент, індивідуальний навчальний план, індивідуальний підхід.

A CRITICAL STEP FOR THE COSMETIC INDUSTRY: SCALE-UP

The perception of aesthetics directs the daily life of people from ancient times to the present. While the desire to be beautiful turns into a passion for some, it can also become a medical necessity for some people, such as war veterans. The historical documents examined show that both men and women use different materials to change their appearance and/or protect their skin. These materials still lead the way in the development of today's cosmetic products. The cosmetics industry is an important business line developed based on this aesthetic perception of societies.Starting from the research and development (R&D) process of a cosmetic formulation and becoming a final product, health authorities control the industry by various regulations. In this process, where each step must be meticulously fulfilled, perhaps the most critical step is the scale-up process. In this review, cosmetic products, scale-up and critical parameters in scale-up process are discussed. Peer Review History: Received: 7 May 2021; Revised: 16 June; Accepted: 23 June, Available online: 15 July 2021 Academic Editor: Dr. Ali Abdullah Al-yahawi, Al-Razi university, Department of Pharmacy, Yemen, [email protected] UJPR follows the most transparent and toughest ‘Advanced OPEN peer review’ system. The identity of the authors and, reviewers will be known to each other. This transparent process will help to eradicate any possible malicious/purposeful interference by any person (publishing staff, reviewer, editor, author, etc) during peer review. As a result of this unique system, all reviewers will get their due recognition and respect, once their names are published in the papers. We expect that, by publishing peer review reports with published papers, will be helpful to many authors for drafting their article according to the specifications. Auhors will remove any error of their article and they will improve their article(s) according to the previous reports displayed with published article(s). The main purpose of it is ‘to improve the quality of a candidate manuscript’. Our reviewers check the ‘strength and weakness of a manuscript honestly’. There will increase in the perfection, and transparency. Received file: Reviewer's Comments: Average Peer review marks at initial stage: 6.5/10 Average Peer review marks at publication stage: 7.5/10 Reviewer(s) detail: Dr. Salfarina Ramli, [email protected] Department of Pharmacology and Pharmaceutical Chemistry, Faculty of Pharmacy, Universiti Teknologi MARA, 42300 Puncak Alam, Selangor, Malaysia. Dr. Govind Vyas, Compliance & Regulatory Officer Inva-Tech Pharmaceuticals LLC, New-Jersey, USA, [email protected] Similar Articles: TISSUE ENGINEERING BIOREACTORS: POTENTIAL APPLICATIONS AND SCALE UP STRATEGY

Assessment of Investment Plan and Financing Strategy for Hobbyist-Based Marketplace as a New Business from PT XYZ

PT XYZ is a successful technology enterprise, intends to open a new business line in e-commerce with unique selling propositions as a hobbyist-based marketplace. The marketplace, ABC, has built website and application generating event registration, communities, and articles. ABC still needs to reduce bugs and acquiring sellers to sell their products on. ABC needs to seek investments to fulfill the required financing at IDR 245,000,000 since PT XYZ needs to reallocate the money to another business. It firstly needs to determine the financial feasibility study of ABC with the capital budgeting method of NPV, IRR, and Payback Period. The amount of NPV at IDR 500,722,291.51, IRR at 13.32%, and PP at 4 years 2 months and 19 days are acceptable. The risk assessment with sensitivity analysis and Monte Carlo simulation determine the accounts that are risked by the assumption from the owners, the high risk are on Bike Selling quantity and COGS also Salary (Full-Time) with the probability of positive IRR at 97.80%. ABC wants to have financing schemes of 65%, 45%, and 25% equity where PT XYZ will give IDR 25,000,000 and intangible asset of IDR 61.600.000, this makes the 25% equity cannot be used, therefore it will be changed to 35.35% equity. With total share outstanding of 10.000 shares, the sales price of A, B, and C are IDR 46,199.55, IDR 43,803.40, and IDR 42,771.43 respectively. Capital structure analysis is needed to get the best value of ownership, yet, all alternatives can be used for attracting investors.

Multi-Year Inland Waterway Investment Model and the Value/Consequence Ratio

USACE’s IWR must responsibly manage its work packages through its Operations and Maintenance (O&M) annual budget. IWR has developed several models that use data to inform investment strategies for the prioritization of work packages; however, these strategies are based on old data and not predictive in nature. Because work package ranks significantly change when applying a Value Model and Monte Carlo simulation, this research focuses on the significance of a 3-year predictive budgeting model; a model which is enabled by the National Defense Authorization Act (NDAA, 2020). This research will demonstrate a forward-looking methodology using a Value to Consequence Ratio metric (VCR) for funding work packages through a decision support interface via Microsoft’s Power BI. This paper presents the framework for USACE’s Civil Works Navigation business line and creates the potential for future work to integrate other business lines utilizing System Dynamics.

Implementation of Gaussian Process Regression in Estimating Motor Vehicle Insurance Claims Reserves

This study aims to calculate the allowance for losses by applying Gaussian Process regression to estimate future claims. Modeling is done on motor vehicle insurance data. The data used in this study are historical data on PT XYZ's motor vehicle insurance business line during 2017 and 2019 (January 2017 to December 2019). Data analysis will be carried out on the 2017 - 2019 data to obtain an estimate of the claim reserves in the following year, namely 2018 - 2020. This study uses the Chain Ladder method which is the most popular loss reserving method in theory and practice. The estimation results show that the Gaussian Process Regression method is very flexible and can be applied without much adjustment. These results were also compared with the Chain Ladder method. Estimated claim reserves for PT XYZ's motor vehicle business line using the chain-ladder method, the company must provide funds for 2017 of 8,997,979,222 IDR in 2018 16,194,503,605 IDR in 2019 amounting to Rp. 1,719,764,520 for backup. Meanwhile, by using the Bayessian Gaussian Process method, the company must provide funds for 2017 of 9,060,965,077 IDR in 2018 amounting to 16,307,865,130 IDR, and in 2019 1,731,802,871 IDR for backup. The more conservative Bayessian Gaussian Process method. Motor vehicle insurance data has a short development time (claims occur) so that it is included in the short-tail type of business.

The Rise of Bpifrance

Founded in 2013 as a unification of dispersed elements of development banking activities in France, Bpifrance has been one of the most active proponents of the new techniques of development financing, such as venture capital and fund of funds investments. Bringing together these new techniques of direct equity investment with more traditional forms of loan and guarantee business, Bpifrance provides a one-stop shop model for the promotion of SMEs and start-ups in France, including the human capital formation of entrepreneurs. This, we argue, represents a reconfigured mode of dirigiste intervention in the French economy. Placing Bpifrance both in the context of the European field of development banking, as well as the historical context of state dirigisme post World War II, this chapter explores both the dangers and merits of such a new dirigiste model, which on the one hand through its synergy effects of different business line provides the state with an efficient tool to foster innovation and entrepreneurship, but at the same time is fragile, as it is potentially subject to overburdening political demands for intervention, demands which in the long run might threaten its financial viability.