Journals UITM University of Information Technology and Management
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CONSTRUCTING ACCOUNTING UNCERTAINITY ESTIMATES VARIABLE
Get PDFThis paper presents research results on the BIH firms’ financial reporting quality, utilizing empirical relation between accounting conservatism, generated in created critical accounting policy choices, and management abilities in estimates and prediction power of domicile private sector accounting. Primary research is conducted based on firms’ financial statements, constructing CAPCBIH (Critical Accounting Policy Choices relevant in B&H) variable that presents particular internal control system and risk assessment; and that influences financial reporting positions in accordance with specific business environment. I argue that firms’ management possesses no relevant capacity to determine risks and true consumption of economic benefits, leading to creation of hidden reserves in inventories and accounts payable; and latent losses for bad debt and assets revaluations. I draw special attention to recent IFRS convergences to US GAAP, especially in harmonizing with FAS 130 Reporting comprehensive income (in revised IAS 1) and FAS 157 Fair value measurement. CAPCBIH variable, resulted in very poor performance, presents considerable lack of recognizing environment specifics. Furthermore, I underline the importance of revised ISAE and re-enforced role of auditors in assessing relevance of management estimates
IMPLEMENTATION OF AN ERP PACKAGE AND ITS EFFECT ON THE MANAGEMENT ACCOUNTING SYSTEM – AUTHOR’S OWN RESEARCH INTO ENTERPRISES IN POLAND
Get PDFThe systems have revolutionized practically all aspects of business processes in enterprises. They improve the processes by ensuring their integration. Data are entered into an ERP system only once and immediately afterwards they can be accessed through any of its modules, which makes them a valuable source of information on the enterprise. Integrating the financial and non-financial data, an ERP package gives new quality to the management of enterprise value. These features make ERPs particularly useful for management accounting processes and for specialists providing management information. This article seeks to answer whether following the implementation of an ERP package the enterprise’s management accounting system becomes more innovative and whether new, modern management accounting tools and methods are introduced. The ERP impacts on management accounting and its practices will be evaluated using six case studies involving enterprises owned by multinational corporations
THE IMPACT OF FOREIGN STOCK EXCHANGES ON THE MAIN STOCK EXCHANGE INDEXES IN POLAND
Get PDFIn this paper the author compared 13stock exchange indexes of American, British and German markets and determined their impact on Polish Wig and WIG20 indexes. The analysis proved that the British FTSE100 and FTSE250 as well as the German DAX had the biggest influence on the Warsaw indexes. The relations among all these indexes were also heavily influenced by the Russian and American economic crisis and Poland’s access to the European Union
THE RELATIONSHIP BETWEEN SAVINGS AND ECONOMIC GROWTH IN COUNTRIES WITH DIFFERENT LEVEL OF ECONOMIC DEVELOPMENT
Get PDFThe aim of this paper is to analyze the cause and effect relationship between economic growth and savings in advanced economies and in emerging and developing countries . In this work we used the method based on studies in macroeconomics and international finance as well as econometric methods (co-integration models and Granger’s causality test). All statistical data used in this paper came from the International Monetary Fund database (World Economic Outlook database). The results confirmed the existence of one-way casual relationship between gross domestic savings and gross domestic product in the case of developed countries as well as in developing and transition countries. At the same time it was revealed the absence of causal relationship between gross domestic product and gross domestic savings both in developed economies and developing and transition countries
THE INDIVIDUAL TAXPAYER UTILITY FUNCTION WITH TAX OPTIMIZATION AND FISCAL FRAUD ENVIRONMENT
Get PDFIn this paper I examine a taxpayer utility function determined by the extended set of variables – i.e. consumption, labor and tax-evasion propensity. This constitutes the main framework for the analysis of taxpayer’s decision making process under assumption that in the economy there exist two main reduction methods: a) access to tax optimization techniques, which may decrease effective tax burden and are fully compliant with binding laws, but generate transactional costs and 2) possibility of fiscal fraud – in particular tax evasion, as the alternative method of reducing tax due, which has no direct transactional costs, but involves tax litigation risk
PRACTICAL IMPLEMENTATION OF METHODS FOR DETERMINING PRICES OF SERVICES
No full textThe paper discusses pricing policies of commercial banks. From a marketing point of view there are three main methods of estimating prices: a cost-based approach (cost-based pricing, cost-plus pricing, cost-driven pricing), market-oriented approach (customer-driven pricing, value-based pricing) and competitive approach (determined by competitive conditions). The specific structure of banking costs, complexity of banking services and oligopolistic character of competition in banking sectors all together make banks adopt pricing policies comprising all three methods simultaneously. Therefore, pricing is far more complex for financial services compared to other types of services. The article briefly presents the main rationale for pricing, basic types of pricing methods used by universal banks operating in Poland and a review of methods recommended by domestic experts for the banks operating in the Polish banking industry. The aim of the article is to provide both a review of the literature on the pricing methods as applied to the banking services markets and the results of empirical studies concerning implementation of such methods in Poland. The empirical study involves both the analysis of pricing methods used by universal banks operating in Poland (based on the survey of four universal banks operating in Poland) and the experts’ recommendations (based on responses of a selected group of domestic experts in a survey on the subject)
THE ROLE OF THE EUROPEAN UNION PARLIAMENT IN SHAPING EU FINANCES
No full textThe European Parliament is one of the most important EU institutions as it represents nearly 500 million EU citizens. The Euro-parliamentarians are chosen in direct elections which gives the Parliament democratic credentials. The powers of the Parliament have been steadily increasing. The institution has legislative powers in the form of a co-decision procedure. The budgetary powers of the Parliament depend on the type of expenditure. The Parliament can only propose modifications to compulsory expenditure, but the Council has the final say in such matters. Non-compulsory expenditure which is not regulated by EU treaties or Community legislation can be amended by the majority of MEPs who vote in favor of changes. Non-compulsory expenditure includes social, regional and industrial policies accounting for about 39 per cent of the Community budget. The Parliament can refuse to pass the budget. In such cases, the budget cannot be implemented and a “Conciliation Committee” is established to resolve the problem. The Parliament may also reject the budget by a two-thirds vote cast by a majority of MEPs
COMPERATIVE STUDY OF ECONOMIC BUDGET OF PODKARPACIE IN GMINAS BETWEEN THE YEARS 1999-2008
No full textThis article deals with the economic budget of local governments units. This paper includes the study of local government units in Podkarpacie, the main subject of the article are evolution directions of income policy and government spending in gminas. The analysis of local government finance between the years 1999-2008 emphasizes the changes in the priorities of public spending. Reorientation are not only trends, also the nature of realizing budgetary economy. As a result, it seems a reasonable approach to the revision of these changes.and analysis of their substrate. Not without significance is the impact of legislative amendments to change the financial management local government units. The article outlines the above subjects and the nature of its deliberations in a way that reflects the theme of comprehensive changes taking place in local government finance
FACTORS INFLUENCING THE FINANCIAL LIQUIDITY OF THE FOOD INDUSTRY IN POLAND
No full textThe article presents the results of the analysis of the factors influencing the financial liquidity of the enterprises of food industry in Poland in 2005-2008. The analysis used the proposal to a causal relationship factors influencing the liquidity, where the level of financial liquidity is determined by the structure of assets, rotation of the current liabilities and the financing strategy
KNOWLEDGE OF THE CHARACTERISTICS AND DEMAND FOR VENTURE CAPITAL AMONG STUDENTS IN PODKARPACIE
No full textThis article was devoted to issues related to the business angels market in podkarpackie province. Research was carried out among students in the above mentioned region to test knowledge and demand for venture capital. The article presents the information problem which has a direct impact on the development of the informal equity investors market in podkarpackie province. The results may partly help to answer the question: What could be the reason for the emergence of excess supply of capital in the informal equity investors market