Digitalization and its Rapid Impact on Savings Banks in Germany

The German banking industry is facing major challenges due to digitalization. The digital transformation is significantly influenced by technological progress, tighter regulation and low-interest phases. The market entry of fintechs and changing customer behaviour is also a reality. To meet the challenge of the digitalization and to to reduce costs, savings banks are increasingly turning to mergers, staff cuts and branch closures. The purpose of this research is to investigate the impact of digitalization on German savings banks. Through an explorative literature review, scientific sources and real KPIs of savings banks in Germany were used. The impact of digitalization on savings banks in the period 1999 – 2018 was investigated using the study situation and the analysis of key business figures. The aim is to answer whether the cost-cutting actions of savings banks are justified from an economic point of view based on the KPIs operating result, cost-income ratio and return on equity. In recent years, it has become clear that German banks lack a clear strategy. The results may be of interest to researchers dealing with the digital transformation of savings banks in Germany.

Cement industry in Chile: CBB and its look to the future

In 2019, Cbb (previously known as Cementos Bío Bío) was one of the main companies dedicated to the production of cement, concrete and lime. It had the largest logistics coverage in Chile and the largest installed production capacity with 3.5 million tons of cement per year and a dispatch of 1.3 million tons. It employed more than 2,800 collaborators, of which 1,344 provided services as contractor companies. Its annual sales for 2019 had been 263,182 million pesos (MM $), which allowed it to generate a net operating result of MM $ 13,104 and an EBITDA of MM $ 36,321. Cbb had managed to position itself in the industry thanks to its long history in the market and its innovative vision in creating high quality products by reusing waste such as slag and ash. Until 2010, the cement industry in Chile had had three major participants: Melón S.A., Cemento Polpaico S.A. and Cbb. All three companies operated under a traditional business model that ranged from the extraction of raw materials in their own mines to their dispatch. In 2011, Chile no longer only produced cement, but also imported it, as a result of low freight costs and lower cement prices due to overproduction in countries such as South Korea, China and Japan. These new conditions allowed other competitors to enter the industry with a different business model based on the import of cement for the production of concrete or the import of clinker (Substance obtained as a result of kiln calcination of limestone mixtures artificially prepared clays with the eventual addition of other materials) installing cement grinding plants. Clinker was one of the key raw materials that was in the middle of the cement production chain, which was obtained from the calcination of limestone. As clinker was imported, it was no longer necessary to have limestone mining deposits. At the end of 2019, the General Manager, who had arrived at the company on January 1, 2018, had to propose to the Board of Directors the focuses to work to continue with the implementation of the Transforma 2021 Strategic Plan. The plan included a set of six initiatives with those seeking to renew the company given the changes that were already beginning to be reflected in lower financial performance. Two years after evaluating the implementation and results obtained, the General Manager sought to define the work focuses for each of the initiatives. Could changes in the industry affect a consolidated and long-standing company like Cbb? Where should you direct your effort to achieve the goals and expected results in the plan? Would the Transform 2021 Plan succeed in taking Cbb where they expected?

Comparative Analysis on the Evaluation Method of Enterprise Profit Quality

As an important index to measure the operating result of enterprises, profit is the focus of accounting information users. In recent years, with the emergence of financial fraud cases in the whole world, the authenticity and reliability of accounting profits have been questioned. The users of accounting information shift their focus from the quantity to the quality of accounting profits. How to evaluate the quality of profits comprehensively and reasonably has become the focus of enterprise financial analysis. At present, the academic world has not established a unified evaluation system and method. My study summarizes and evaluates four most commonly used methods for evaluating enterprise profit quality. The study finds that all kinds of methods have their own characteristics. Each method has advantages as well as disadvantages. It is believed that the quality of profit is affected by many factors, and a variety of methods can be used for comprehensive evaluation to ensure the accuracy of the evaluation result.

The impact of the fipronil crisis on the financial performance of Dutch laying hen farms

Background Illegal use of fipronil as an insecticide in 2017 has caused substantial damage to Dutch laying hen farms. We assessed how the fipronil crisis has affected the financial performance of affected farms as well as unaffected farms. While affected farms faced culling their flocks and lost revenue, unaffected farms benefitted from temporary high egg prices. Methods A three-step normative modelling approach is taken using financial statements and a partial budget. The estimations are for a 50,000 laying hen farm facing the fipronil crisis for 5 months. First, a baseline is created by generating an income statement of this laying hen farm representing a ‘normal year’. Second, incremental costs and revenue as a result of the fipronil crisis are estimated. Third, the baseline income statement is updated with the outcomes of the partial budget. This results in two additional income statements that report the net operating result of this farm being unaffected and affected by the fipronil crisis. Results While in a normal year this average-sized farm has a net operating result of around 18,000 euros, profitability was estimated to be − 369,000 euros and + 169,000 euros for the affected and unaffected farm due to the crisis respectively. For affected farms, impacts were especially high as there was no government compensation or insurance. Conclusions As Dutch farms typically operate as independent family farms, there was also no compensation from other chain actors. The affected farms therefore likely have faced financial distress and have had to increase debt or use their financial reserves for household consumption and restarting the business. Outcomes contribute to discussions around liability claims and cost-benefit assessments of measures to improve the chain food safety and rapid alert systems.

The impact of the fipronil crisis on the financial performance of Dutch laying hen farms

Background: Illegal use of fipronil as an insecticide in 2017 has caused substantial damage to Dutch laying hen farms. We assessed how the fipronil crisis has affected the financial performance of affected farms as well as unaffected farms. While affected farms faced culling their flocks and lost revenue, unaffected farms benefitted from temporary high egg prices.Methods: A three-step normative modelling approach is taken using financial statements and a partial budget. The estimations are for a 50 000 laying hen farm facing the fipronil crisis for five months. First, a baseline is created by generating an income statement of this laying hen farm representing a ‘normal year’. Second, incremental costs and revenue as a result of the fipronil crisis are estimated. Third, the baseline income statement is updated with the outcomes of the partial budget. This result in two additional income statements that report the net operating result of this farm being unaffected and affected by the fipronil crisis. Results: While in a normal year this average-sized farm has a net operating result of around 18k euro, profitability was estimated to be -369k euro and +169k euro for the affected and unaffected farm due to the crisis respectively. For affected farms, impacts were especially high as there was no government compensation or insurance. Conclusions: As Dutch farms typically operate as independent family farms, there was also no compensation from other chain actors. The affected farms therefore likely have faced financial distress and have had to increase debt or use their financial reserves for household consumption and restarting the business. Outcomes contribute to discussions around liability claims and cost-benefit assessments of measures to improve chain food safety and rapid alert systems.

Assessment of the financial situation of Polish gminas using the k-means method

Dynamic changes in the economy and law amendments affecting the activity of local government units create the need for an ongoing assessment of their financial situation. The aim of the study presented in this article is to assess the financial situation of gminas (communes, municipalities). This situation was determined by means of four variables: total income per capita, the value of total liabilities per capita, the value of investment expenditures per capita and operating result per capita. The analysis was based on data obtained from the Local Data Bank of Statistics Poland (GUS) and the Ministry of Finance, covering the years 2016–2018. The k-means clustering algorithm was applied as a research method. The study demonstrates that while in the years 2016 and 2017 the financial situation of gminas was stable, the debt of most of the surveyed units increased within the analysed period. The most significant differences between gminas became visible in 2018. The proportion of gminas with the worst financial situation increased from approx. 3.3% in 2016 to 7.9% in 2018, which, jointly with the crisis caused by the COVID-19 pandemic in 2020, result in these gminas' potential great financial problems in the future.

The earlier synthetic balance sheet of Datini's Company in Avignon (1410): The combined accounting system

When studying accounting history, the use of archival sources is very important. Unfortunately, when scholars explore the genesis of accounting practice, archival sources are not often used. This paper does so, presenting a detailed explanation of features of the accounting system used by Francesco di Marco Datini’s’ company in Avignon 14091410. This accounting system used stocktaking and double entry in order to determination of the operating result and produce an analytical balance sheet. This study analyzed the Quaderno di Ragionamento (the book for drawing-up final accounts, including the financial result) with the aim of clarifying the features of this process. It also investigated the procedure used in preparing the synthetic balance sheet, a process not known previously elsewhere. This research was based on the archival material comprising of account books of the medieval merchant company of Datini, preserved in the State Archive in Prato.

ANALISIS PENGARUH NON PERFORMING LOAN (NPL) TERHADAP RETURN ON EQUITY PADA KOPERASI WANITA (KOPWAN) KARTIKA SARI KOTA BIMA

This purpose of this research to know and analyze the effect of Non Performing Loan (NPL) to Return On Equity (ROE) on Koperasi Wanita (KOPWAN) Kartika Sari in Bima Town. The pupulation used is financial statement data which consists of working paper data, balanced sheets, and calculation of operating result for 23 years and researh samples for 5 years with the sampling used is purposive samping with the criteria (1) financial statement data available for 5 consecutive years according to 2014-2018 (2) the 5 years sample data already represent axisting population data for reseach needs. Data analysis techniques used are simple linear regression, simple correlation coefficient, coefficient of determination and hypothesis testing ( 2 party T test). Based on the resulth of the analysis showed that Non Performing Loan (NPL) affect the Return On Equity of Kartika Sari woman’s coorperatives in Bima town. This shows that Non Performing Loan have little effect on coorperative.

Pendidikan, Pelatihan, Pengalaman, dan Penggunaan Informasi Akuntansi dalam Pembuatan Laporan Keuangan pada UKM di Kota Bengkulu

In conducting the entire business activity, small businesses can not be separated from the operating result(profit) enterprises in the previous period. To determine the end of each period's operating results can be seen from thefinancial statements prepared by the small businessman. By knowing the operating results (profits) is, theseentrepreneurs can perform management and better funding. But the reality on the ground is still a lot of small businessesthat do not make financial statements. The purpose of this study is to empirically examine the influence of individualcapacity and use of accounting information to the preparation of financial statements of small business in the city ofBengkulu. The sampling method in this research using random sampling of 100 small business in the city of Bengkulu.Hypothesis testing using multiple regression analysis. The test results indicate that there are influence the capacity ofindividuals and the use of accounting information to financial statements for small business in the city of Bengkulu.Keywords: education, training, experience, the use of accounting information, financial statements, small business

Assessing the usefulness of accounting measures for examining profitability of the State Forests’ National Forest Holding

The purpose of this study was to analyse the profitability of the State Forests by using accounting measures and to determine their practical applicability for evaluating the State Forests’ activities covering the years 2008-2012. In our assessment, we used the ratios: return on assets, return on equity and return on sales, which were calculated for the four following levels of financial result: operating result and economic activity result, gross profit and net profit. The degree of variability of the analysed ratios was determined for the years 2008-2012. On the basis of our survey, the State Forests’ activities were found to be profitable. The ratios return on assets, sales and equity show only slight variation depending on the applied category of financial results. Furthermore, this study confirms that there is a high degree of variation over time. In the years 2008-2012, the profitability ranged from 2% to 13% with the highest profit having been reached in 2011. We conclude that for the State Forests’ activity assessment, the profitability ratios established for the category of operating results will be of great significance.