From the beginning of the new millennium, a number of accounting scandals involving audit firms have occurred. The accounting scandals involving well known Big Four audit firms have particularly been ...echoing in the media, which puts pressure on them and can make them more conservative in their judgements. One of the significant assumptions that auditors must assess is that of going concern of the audited entity. Existing studies from different countries and conducted for different time periods on whether the size of the auditor affects going concern uncertainty statement, do not show unique results, which implies that there are time and location specifics. Since, to the best of our knowledge, there is no such research for Croatia, the purpose of this article is to analyse on a sample of Croatian companies whether there is a significant difference between the propensity of Big Four and non-Big Four auditors to express going concern uncertainty. A sample of large financially troubled, but not bankrupt manufacturing companies, is used. The findings of our study show that there is no significant difference in stating going concern uncertainty between large international audit firms (Big Four) and smaller auditors.
Od početka novog tisućljeća dogodili su se brojni računovodstveni skandali koji uključuju revizorska društva. Računovodstveni skandali koji uključuju poznata revizorska društva Velike četvorke posebno odjekuju u medijima, što na njih vrši pritisak i može ih učiniti konzervativnijima u njihovim prosudbama. Jedna od značajnih pretpostavki koju revizori moraju ocijeniti jest ona o vremenskoj neograničenosti poslovanja poduzeća koje je predmet revizije. Studije o tome da li veličina revizora utječe na ocjenu vremenske neograničenosti poslovanja, iz različitih zemalja i provedene za različita vremenska razdoblja ne pokazuju jedinstvene rezultate, što implicira da postoje vremenske i lokacijske specifičnosti. Budući da, prema našim saznanjima, za Hrvatsku ne postoji takvo istraživanje, svrha ovog članka je analizirati na uzorku hrvatskih poduzeća postoji li značajna razlika između sklonosti revizora Velike četvorke i ostalih da izraze sumnju u vremenski neograničeno poslovanje. U istraživanju se koristi uzorak velikih proizvodnih poduzeća koja su u financijskim problemima, ali nisu u stečaju. Rezultati ovog istraživanja pokazuju da ne postoji značajna razlika u isticanju sumnje u vremenski neograničeno poslovanje između velikih međunarodnih revizorskih društava (Velika četvorka) i manjih revizora.
ERP sustavi u malim poduzećima Varaždinske županije Keglević Kozjak, Suzana; Šestanj-Perić, Tanja; Peharda, Monika
Radovi Zavoda za znanstveni rad Varaždin,
12/2021, Volume:
32, Issue:
32
Journal Article, Paper
Peer reviewed
Open access
Cilj ovog rada bio je istražiti računovodstvene informacijske sustave u poslovanju malih
poduzeća te ispitati korištenje sveobuhvatnih rješenja kao što su Enterprise resource
planning (dalje: ERP) ...sustavi. Korištenje ERP sustava u Republici Hrvatskoj (dalje: RH)
znatno je ispod prosjeka EU-27 i daleko od postotka u kojem se ERP koristi u razvijenijim
zemljama EU, a koristi od kvalitetno implementiranog ERP sustava mogu biti značajne za
poduzeće. Te su nas činjenice potaknule na istraživanje korištenja ERP sustava u malim
poduzećima s područja Varaždinske županije. Istraživanje je pokazalo kako mala poduzeća
iz Varaždinske županije, koja je na visokom 4. mjestu po kriteriju razvijenosti županija
u RH, koriste ERP sustave u znatno većoj mjeri od prosjeka za sva poduzeća s više od 10
zaposlenih u RH, te da se u skladu s očekivanjima uglavnom radi o gotovim ERP rješenjima.
Većina ispitanika ulaže u taj segment zadovoljavajuće, ali ne planira buduće značajne
investicije. Budući da je na razini RH prema podacima Eurostata korištenje ERP sustava
znatno lošije nego u Varaždinskoj županiji, država bi ovdje mogla odigrati značajnu ulogu
kroz institucionalnu pomoć malim poduzećima u RH pri uvođenju ERP sustava, kao što je
slučaj u nekim tehnološki razvijenijim zemljama.
The aim of this paper was to investigate accounting information systems in small enterprises and to examine the use of comprehensive solutions such as Enterprise resource planning (hereinafter: ERP) ...systems. The use of ERPs in the Republic of Croatia is significantly below the EU-27 average and far from the percentage in which ERPs are used in more developed EU countries, and the benefits of a well-implemented ERP system can be significant for the company. These facts motivated us to conduct research on the use of ERPs in small businesses from Varaždin County. The research showed that small companies from Varaždin County, which is in the high 4th place according to the criteria of county development in the Republic of Croatia, use ERP systems to a much greater extent than the average for all companies with more than 10 employees in the Republic of Croatia. In line with our expectations, these are mostly ready-made ERP solutions. Most respondents invest in this segment satisfactorily, but do not plan significant future investments. Since, according to Eurostat data, the use of ERP systems at the national level is much worse than in Varaždin County, government could play a significant role through institutional assistance to small businesses in the Republic of Croatia in introducing ERP systems, as in some more technologically advanced countries.
This paper presents a financial statement analysis, which is based on financial data collected from the data base of the Croatian Financial Agency (cro. FINA). The authors analyzed 28 selected medium ...size and large ICT companies in Croatia during the period from 2006 to 2009, which includes the period of economic crisis (from 2007). The authors show a summary of the past trends and demonstrate the impact of economic crisis on the overall business result. In general, ICT industry has not taken on a large burden of the crisis and it can be expected that most companies will recover well and continue working successfully.
The main objective of this research paper is to examine the relationship between corporate social responsibility (CSR) and financial performance (FP) of the companies included in the official share ...index of the Zagreb Stock Exchange. CROBEX10® includes shares of 10 companies traded at the regulated market in Croatia. Corporate social responsibility is a factor having an important role in the consumer selection of products and services. Thus, CSR is increasingly gaining in importance because it creates organizational value for a company by giving the ability to differentiate the company from its competitors. All successful companies in the world have recognized the importance of CSR, but not all are equally successful in its implementation. Although many empirical studies found a link between the quality of CSR and the company performance measured by financial indicators, there is still a lot of inconsistency in the results of previous research, mainly due to the factors influencing this relation. The paper starts from the general premise that there is no relationship between CSR and FP, for companies included in CROBEX10®. In this paper common indicators such as the measure of the financial performance (such as ROA and ROE) are determined by using document analysis method. Levels of CSR indicators are evaluated by using content analysis. The relationship between CSR and financial performance is interpreted using descriptive statistics, method of simple regression analysis and factor analysis.
U našem radu istražujemo financijsku uspješnost reklamnih poduzeća u Republici Hrvatskoj, u ovisnosti o unutarnjim čimbenicima i ukupnim ekonomskim uvjetima. Unutarnji čimbenici odnose se na odabrane ...financijske pokazatelje, a ekonomski uvjeti određeni su makroekonomskom varijablom – Bruto domaćim proizvodom (GDP). Financijski pokazatelji korišteni u ovom istraživanju su: Koeficijent tekuće likvidnosti (CR), Koeficijent zaduženosti (DR) i Koeficijent obrta ukupne imovine (AT). Uspješnost poduzeća mjeri se neto profitnom maržom (NPM). Zamisao ovog istraživanja temelji se na činjenici da određena poduzeća marketinške troškove smatraju investicijom te čak u vrijeme gospodarske krize ne samo da ne smanjuju već povećavaju svoju potrošnju vezanu uz marketinške aktivnosti. Stoga, ako se većina poduzeća ponaša na ovaj način, pretpostavka je da postoji negativna korelacija između Bruto domaćeg proizvoda i profitabilnosti promotivnih poduzeća.
Populaciju ove studije čine sva poduzeća koja posluju u Republici Hrvatskoj, a čija je glavna djelatnost promidžba. Prema Nacionalnoj klasifikaciji djelatnosti (Odredbe NKD-a 2007) spomenuta djelatnost razvrstana je u odjeljak M 73 –Promidžba (reklama i propaganda) i istraživanje tržišta, a ovaj odjeljak uključuje agencije za oglašavanje (M 7311), poduzeća za medijsko oglašavanje (M 7312) i poduzeća za istraživanje tržišta ( M 7320). Financijski pokazatelji za navedena poduzeća mjereni su od 2009. do 2018. Korišten je višestruki regresijski model i analizirani su sekundarni podaci.
Rezultati višestruke regresijske analize pokazuju da DR, CR i BDP imaju značajnu korelaciju s financijskom uspješnošću promotivnih poduzeća; DR i BDP su negativno korelirani, dok je CR pozitivno koreliran s uspješnošću industrije mjerenom NPM -om.
Doprinos ovog rada je dvojak: s jedne strane doprinosi literaturi koja se bavi utjecajem financijskih pokazatelja i makroekonomskih varijabli na financijsku uspješnost, s druge strane doprinosi literaturi koja proučava odnos između troškova marketinga i gospodarske aktivnosti.
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 ratios of liquidity, leverage and activity, and economic conditions by the selected macroeconomic variable. Financial ratios used in this research are Current ratio (CR), Debt ratio (DR) and Total Asset Turnover (AT), and macroeconomic variable is Gross 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, and not 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, with a negative relationship between GDP and their profitability.The 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.Among 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. The contribution of this paper is twofold: on one side, it contributes to the literature dealing with the impact of financial ratios and macroeconomic variables on financial performance, on the other side it contributes to the literature that studies the relationship between marketing costs and economic activity.
Cost management is a process that requires continuous improvement of managers' knowledge. There is economic theory of costs and revenues. However, in practice managers rely on accounting data in ...making business decisions. The main problem is that economists and accountants do not see the costs the same way. In this paper we explain the difference between the teachings of economic theory and its practical application in the accounting practices. We show how economic theory can be applied in practice and be a useful tool in the hands of managers. For the case study we use recent accounting data of a transport company.
Prema podacima Financijske agencije u Republici Hrvatskoj u 2017. godini bila su aktivna 1.943 poduzeća čija je glavna djelatnost promidžba i istraživanje tržišta, a zapošljavala su ukupno 5.683 ...zaposlenika. Sukladno Nacionalnoj klasifikaciji djelatnosti (NKD 2007) navedena djelatnost se vodi u odjeljku M 73 - Promidžba (reklama i propaganda) i istraživanje tržišta, a konkretno obuhvaća agencije za promidžbu, poduzeća za oglašavanje preko medija i poduzeća za istraživanje tržišta. U strukturi promatranih poduzeća po veličini isključivo su mala ili srednja poduzeća. S obzirom da posljednje izvješće Centra za politiku razvoja malih i srednjih poduzeća i poduzetništva u Republici Hrvatskoj pokazuje pozitivne pomake u rastu i razvoju malih i srednjih poduzeća, cilj ovog rada je ispitati da li za poduzeća iz sektora M73 to isto vrijedi. Kako bi se navedeni cilj postigao provedena je financijska analiza cjelokupnog sektora M73 za razdoblje od 2013. do 2017. godine. Na temelju provedene financijske analize egzaktno se utvrdilo financijsko stanje i uspješnost sektora. Rezultati istraživanja pokazuju da u posljednjih pet godina prevladava pozitivan trend u sektoru M 73 po broju poduzeća, broju zaposlenih i ostvarenim prometima. Unatoč tome u tom su sektoru uočeni brojni problemi koji doprinose razvoju financijske nestabilnosti. Naime, pokazatelji likvidnosti ukazuju da unatoč tome što poduzeća raspolažu radnim kapitalom, njihova likvidnost može se ocijeniti osrednjom. U prosjeku promatrana poduzeća 70% svoje imovine financiraju iz tuđih i to većinom kratkoročnih izvora, rokovi naplate potraživanja prelaze preko 100 dana, a neto rentabilnost imovine kreće se u rasponu od svega 3,88% do 7,19%. Rezultati sektora poticaj su za daljnja istraživanja na razini individualnih poduzeća budući da na toj razini mogu postojati značajne razlike na način da postoje poduzeća s izuzetno dobrim i iznimno lošim poslovanjem što je naša analiza broja agencija za promidžbu s obzirom na broj zaposlenih te ukupne prihode i pokazala.
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