Zbornik radova - Journal of Economy and Business最新文献

{"title":"UČINCI IMPLEMENTACIJE MSFI-JA 15 PRIHODI NA TEMELJU UGOVORA S KUPCIMA NA TRANSPARENTNOST FINANCIJSKOG IZVJEŠTAVANJA PODUZEĆA U REPUBLICI HRVATSKOJ","authors":"","doi":"10.46458/27121097.2021.27.72","DOIUrl":"https://doi.org/10.46458/27121097.2021.27.72","url":null,"abstract":"Revenues as an inflow of economic benefits in the form of assets increase or liabilities decrease are in the focus of managerial activities of every profit-oriented company. Meeting the business objectives of most companies is evaluated directly by the revenues level or indirectly by using revenue-based financial indicators like return on assets, profit margin, earnings before interests, operating earnings. From the aspect of external stakeholders, the importance of revenues is evident in independent auditor's reports, where revenue recognition is emphasized as a key audit matter in 27% of listed companies in the Republic of Croatia in 2019. In the context of considering revenues as a necessary basis in the business decision-making process, the issue of their recognition in accounting is crucial. With the objective to provide a more robust framework for revenue recognition, ease comparisons in industry, with capital markets, economy, and to offer relevant information to financial statements users in notes to financial statements, the International Accounting Standards Board issued new accounting standard in 2014 which establish the principles that an companies shall apply for revenue recognition from contracts with customers, as well as disclosure requirements in notes to financial statements. The aim is to report useful information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from a contract with a customer. After two years of application of IFRS 15 Revenue from Contracts with Customers the question is what are the effects of the Standard on the disclosure of qualitative and quantitative information in the notes to the financial statements and have more transparent and robust revenue recognition rules resulted in changes in business performance? This paper aims to investigate and evaluate the effects of the application of IFRS 15 Revenue from Contracts with Customers on qualitative improvements in the informative value of revenue disclosures in the notes to financial statements in the Republic of Croatia. In addition, this paper aims to evaluate the quantitative effects of the application of the Standard on the level of presented revenues for the same sample of companies. The sample of enterprises includes about forty enterprises of those industries for which the effect of the application of the new Standard was assessed as the most significant (e.g. telecommunications, construction, shipbuilding). The obtained data were analysed by content analysis method and other applicable methods of inferential statistics.","PeriodicalId":213982,"journal":{"name":"Zbornik radova - Journal of Economy and Business","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127056576","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"A REVIEW OF AFTER INTERNATIONAL FINANCIAL REPORTING STANDARDS ADOPTION IMPACT ON FINANCIAL STATEMENTS OF COMPANIES: EVIDENCE FROM NIGERIA","authors":"","doi":"10.46458/27121097.2021.27.149","DOIUrl":"https://doi.org/10.46458/27121097.2021.27.149","url":null,"abstract":"Globalization of business operations has compelled many countries across the globe to adopt the International Financial Reporting Standards (IFRS). However, continuous review of the impact of IFRS adoption is imperative to business stakeholders and accounting standards setters. This study therefore, reviewed the impact of after adopting IFRS on the global relevance of the locally produced financial statements of companies in Nigeria. The study employed a survey research design and made use of primary source of data to obtain responses through the questionnaire. A sample of ninety-six (96) respondents comprising forty-eight (48) accountants and forty-eight (48) Accounting Lecturers was purposively selected based on their availability. Multiple regression models which include regression model summary, analysis of variances (ANOVA) and Pearson correlation were used to analysis the data at 5% level of significant using the Statistical Packages for Social Sciences version 20. Findings from the study revealed that the F-statistics of the ANOVA is positive (4910.868) and statistically significant (0.00 < 0.05.). The study therefore concluded that the IFRS, after its adoption exert positive impact by adding value to the volume of accounting information generated; improving the quality of accounting reports and enhancing global relevance of financial statements in Nigeria. The study recommended that those companies that are yet to migrate to IFRS should do so for them to enjoy the benefits of its adoption.","PeriodicalId":213982,"journal":{"name":"Zbornik radova - Journal of Economy and Business","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121545148","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"POZNAVANJE RAČUNOVODSTVA U NEPROFITNIM ORGANIZACIJAMA I NJEGOV UTJECAJ NA POSLOVNO ODLUČIVANJE I FINANCIJSKO PLANIRANJE","authors":"","doi":"10.46458/27121097.2021.27.9","DOIUrl":"https://doi.org/10.46458/27121097.2021.27.9","url":null,"abstract":"Non-profit organisations (NPO) are focused on improving civil society and despite the fact that achieving profit does not represent their aim, non-profit organisations are becoming more like companies because they face strong competition in fundraising and the higher demands of their stakeholders for the increased effectiveness. New conceptual frameworks of NPO management emphasise performance management and financial management relying on accounting information. Therefore, understanding of accounting becomes crucial in achieving NPO success. However, as opposed to the companies that employ economists (who are familiar with accounting), NPOs usually lack in these experts and the questions regarding the understanding and the use of accounting information are being raised. Empirical research results indicate that conversance with accounting could be better in NPOs in Croatia. Hypotheses regarding the positive impact of conversance with accounting on decision-making and financial planning are supported.","PeriodicalId":213982,"journal":{"name":"Zbornik radova - Journal of Economy and Business","volume":"74 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115557074","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"EFFICACY OF SUPPLIERS PERFORMANCE EVALUATION IN A DYNAMIC BUSINESS ENVIRONMENT USING DATA ENVELOPMENT ANALYSIS (DEA)","authors":"B. Babatunde","doi":"10.46458/27121097.2021.27.164","DOIUrl":"https://doi.org/10.46458/27121097.2021.27.164","url":null,"abstract":"Supplier performance evaluation plays a vital role in the creating an effective business survival especially in pessimistic business environment. More also, evaluation of supplier performance is important for an enterprise to survive in a competitive local and global market. The study x-rays the benefit of data envelopment analysis in evaluating the performance of decision-making units (DMUs). DEA is a mathematical programming tool applied in performance measurement. A case scenario is presented to show the efficiency of the selected suppliers’ selection and the most competent in ranking order. The DMUs results demonstrated that the model has the capacity to measure effectiveness, efficiency and most preferred supplier for business sustainability in an unstable business environment. The DMUs model can be used by decision makers to select the most efficient and economical business partner (supplier) for business survival.","PeriodicalId":213982,"journal":{"name":"Zbornik radova - Journal of Economy and Business","volume":"391 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121784682","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"PERILS OF DEBT-FINANCING: EXTERNAL DEBT AND ITS IMPLICATIONS ON NIGERIA’S ECONOMIC GROWTH","authors":"R. Oyaromade, O. K. Binuomoyo, Akin George, Ogunleye","doi":"10.46458/27121097.2021.27.94","DOIUrl":"https://doi.org/10.46458/27121097.2021.27.94","url":null,"abstract":"This paper examines the impact of external debt on the growth of the Nigerian economy between 1990 and 2018 with a view to drawing key implications for the management of the economy. Having ascertained that the variables of the study are non-stationary in levels but stationary after first differencing and also being cointegrated, error correction model (ECM) technique was used for the analysis.The pairwise Granger causality test results show that while a one-way causal relationship exists between fiscal balance and external debt with the causality running from fiscal balance to external debt, no causal relationship exists between external debt and real output. From the short run ECM and long run models, it was found that a statistically insignificant positive relationship exists between external debt and real output both in the short run and the long run. The statistical properties of the estimated ECM model show that the model is consistent, efficient and feasible for forecast and policy making.The recommendations that emanated from the study suggest that the Nigerian government should improve on fiscal policy governance, entrenching transparency and professionalism in the management of the country’s debt and that the larger public finance for debt should be made to be viable instrument for economic growth.","PeriodicalId":213982,"journal":{"name":"Zbornik radova - Journal of Economy and Business","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123786182","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"INFLUENCE OF AGENCY COST ON FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS MANUFACTURING COMPANIES IN NIGERIA","authors":"","doi":"10.46458/27121097.2021.27.122","DOIUrl":"https://doi.org/10.46458/27121097.2021.27.122","url":null,"abstract":"The study examined the influence of agency costs on financial performance of listed consumer goods manufacturing companies in Nigeria. This study employed Ex-post facto research design. Ten (10) manufacturing companies were purposively selected based on convenience and availability of annual reports. The period of the study covered five (5) years between 2015 and 2019. Secondary data were used for the purpose of this study. Descriptive statistics such as mean, median, range and inferential statistics such as panel regression analysis (fixed effect) and correlation analysis were used to analyzed the data collected from the annual reports and accounts of the sampled listed manufacturing firms. The findings from this study revealed that there is a positive significant relationship between current ratio and return on asset supported by t-statistics = 5.0684, p-value (0.0268), p-value < 0.05%, it was further discovered that there is a negative significant relationship between administrative expenses and profit after tax margin evidenced by t-statistic = -3.03321, p-value (0.0037), p-value < 0.05%. Therefore, this study concluded that there is a significant relationship between agency costs and financial performance of listed consumer goods manufacturing company in Nigeria. Based on this result the study recommends that managements of listed consumer goods companies in Nigeria should introduce control measures that will assist in reducing administrative expenses and also help to prevent frivolous and unnecessary spending’s. Also, motivating managers will help to increase effort level and in turn brings about improvement in organization current and asset utilization ratio.","PeriodicalId":213982,"journal":{"name":"Zbornik radova - Journal of Economy and Business","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122725497","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"THE IMPACT OF SELECTED FINANCIAL RATIOS AND GROSS DOMESTIC PRODUCT ON THE PERFORMANCE OF ADVERTISING INDUSTRY – A CASE STUDY FROM CROATIA","authors":"PhD Suzana Keglević Kozjak, PhD Vladimir Kovšca, Msc Tanja Šestanj-Perić","doi":"10.46458/27121097.2021.27.52","DOIUrl":"https://doi.org/10.46458/27121097.2021.27.52","url":null,"abstract":"In our study, we explore the financial performance of companies in advertising industry in Croatia, depending on internal factors and overall economic conditions. Internal factors are represented by financial ratiosof liquidity, leverage and activity, and economic conditions bythe selected macroeconomic variable. Financial ratios used in this research areCurrent ratio (CR), Debt ratio (DR) andTotal Asset Turnover (AT),and macroeconomic variable isGross Domestic Product (GDP). The performance of the companies is measured by Net Profit Margin (NPM). The idea behind this research is based on the fact documented in the literature that some companies see marketing costs as an investment, andnot only do not cut their spending on marketing in times of economic downturn, but even increase it. If many companies behave this way, this should reflect on the profitability of companies in advertising industry, witha negative relationship between GDP and their profitability.\u0000\u0000The population of this study is comprised of all the companies operating in Croatia whose main activity is promotion. According to National Classification of Activities (NACE Provisions 2007) the mentioned activity is classified in the section M 73 - Advertising and market research, and this section includes advertising agencies (M 7311), media advertising companies (M 7312) and market research companies (M 7320). The financial ratios for those companies were measured from 2009 to 2018. A multiple regression model was used and secondary data were analyzed.\u0000\u0000Among the four independent variables, only AT does not show the significance on NPM. The results of multiple regression analysis show that DR, CR and GDP have significant correlation with the financial performance of promotion companies in Croatia; DR and GDP are negatively correlated,while CR is positively correlated to the industry performance measured with NPM. \u0000\u0000The contribution of this paper is twofold: on one side, it contributes to the literature dealing with the impact of financial ratios and macroeconomic variableson financial performance, on the other side it contributes to the literature that studies the relationship between marketing costs and economic activity.","PeriodicalId":213982,"journal":{"name":"Zbornik radova - Journal of Economy and Business","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124804141","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"RAČUNOVODSTVENA NASTAVA U DIGITALNOM OKRUŽENJU","authors":"","doi":"10.46458/27121097.2021.27.178","DOIUrl":"https://doi.org/10.46458/27121097.2021.27.178","url":null,"abstract":"Looking back in the last year or two concerning experience with COVID-19, it is clear that teaching in a digital environment in the context of accounting posed a special challenge. It was challenge in terms of organization, creativity and implementation of the whole process to enable students to acquire the same knowledge as in classical teaching. This was particularly demanding for educational institutions that had not previously, at least to some extent, applied certain forms of online teaching.\u0000\u0000This paper through research conducted on students of the Faculty of Economics, who attended one or more accounting courses in the pandemic 2020/2021 academic year, sought to offer answers to questions about the level of student satisfaction with digitally organized teaching and what are the advantages and disadvantages in terms of space for improvement when it comes to accounting teaching in a digital environment.","PeriodicalId":213982,"journal":{"name":"Zbornik radova - Journal of Economy and Business","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115291278","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"PROFESIONALNA RAČUNOVODSTVENA EDUKACIJA U BOSNI I HERCEGOVINI","authors":"","doi":"10.46458/27121097.2021.27.193","DOIUrl":"https://doi.org/10.46458/27121097.2021.27.193","url":null,"abstract":"The aim of this paper is to present the status of professional accounting education in Bosnia and Herzegovina, including both formal education and the subsequent training, building on that education and providing professional knowledge (technical competence), professional skills, and professional values, ethics, and attitudes. \u0000\u0000As a framework for reviewing professional accounting education, the paper will draw on key elements of the Global Model of Accounting Education (Watty et al., 2012, 2013 and 2014). The Model is based on the International Education Standards aiming to set the criteria for professional accounting education around the world and ensure its quality and consistency.","PeriodicalId":213982,"journal":{"name":"Zbornik radova - Journal of Economy and Business","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131065865","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"POTENCIJAL MRAČNOG TURIZMA KAO TURISTIČKOG PROIZVODA DESTINACIJE","authors":"Ana Njegovan, Lidija Bagarić","doi":"10.46458/27121097.2020.26.9","DOIUrl":"https://doi.org/10.46458/27121097.2020.26.9","url":null,"abstract":"Rastuća dimenzija suvremene turističke ponude u turističkom paketu postaju lokacije smrti, nesreće, tragedije i razna zlodjela jer pružaju potencijalno sadržajnija putovanja sa stajališta putnika. Sve više raste broj turista koji su u potrazi za diferenciranim, individualno krojenim i duhovno vrijednim turističkim proizvodima, a među njima se nalaze i proizvodi koji zadiru u pitanje života i smrti ili „oživljavaju“ kontroverzne dijelove prošlosti. Kao rezultat potražnje za takvim proizvodima, poprilično emotivna etiketa prišila se na ovu vrstu turizma pod nazivom „mračni turizam“, a koja je zaokupila javnost i akademsku zajednicu u kontinuiranom rastu potrebe za daljnjim istraživanjima. Međutim, usprkos pojačanom interesu, literatura je oskudna, a teorije prepune neodgovorenih pitanja i sumnji. \u0000\u0000U ovom radu nastoji se, barem konceptualno, odrediti temeljne značajke mračnih proizvoda te karakteristike i percepciju mračne ponude kroz teoriju „nijansi“ lokacija i emocionalne težine koju potencijalna lokacija sadrži. Nadalje, ovo istraživanje rezultiralo je saznanjem kako mračni turistički proizvodi, različitih karakteristika i nijansi, mogu igrati veliku ulogu u unaprjeđenju turističke ponude destinacije.\u0000\u0000U radu su analizirani stavovi o samom pojmu mračnog turizma i približilo se odgovoru na pitanje je li mračni turizam prihvatljiv turistički proizvod te koliki je njegov značaj za turističku destinaciju.","PeriodicalId":213982,"journal":{"name":"Zbornik radova - Journal of Economy and Business","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114301674","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}