Purpose: This paper provides a comparative analysis of accounting systems in three Central and East-ern European countries − Croatia, Poland, and Slovakia. The main goal of the paper is to contribute ...to the understanding of the main differences and their main economic, historical, and cultural reasons. Methodology/approach: The research based on a comparative analysis of Croatian, Polish, and Slovak accounting regulations allows for the identification of important differences in accounting standards, despite the geopolitical proximity of the analysed countries and their Slavic roots. Findings: The paper demonstrates that the economic differences between the countries may influence the development of their accounting systems. Our empirical research also reveals that accession to the European Union had a significant impact on the development of accounting in these countries. Moreover, our research verified whether cultural differences influence accounting systems and financial reporting in the analyzed coun-tries. Originality/value: The similarities and differences in accounting systems indicated in this paper may help regulators assess real opportunities to harmonize accounting regulations in the member states of the European Union in the face of economic and cultural factors.
Purpose: This paper provides a comparative analysis of accounting systems in three Central and Eastern European countries Croatia, Poland, and Slovakia. The main goal of the paper is to contribute ...to the understanding of the main differences and their main economic, historical, and cultural reasons. Methodology/approach: The research based on a comparative analysis of Croatian, Polish, and Slovak accounting regulations allows for the identification of important differences in accounting standards, despite the geopolitical proximity of the analysed countries and their Slavic roots. Findings: The paper demonstrates that the economic differences between the countries may influence the development of their accounting systems. Our empirical research also reveals that accession to the European Union had a significant impact on the development of accounting in these countries. Moreover, our research verified whether cultural differences influence accounting systems and financial reporting in the analyzed countries. Originality/value: The similarities and differences in accounting systems indicated in this paper may help regulators assess real opportunities to harmonize accounting regulations in the member states of the European Union in the face of economic and cultural factors.
The specifics of the business of micro entities highlight, in particular, the complexity of the problem of accounting regulations for this segment of the economy. The paper starts from the basic ...research question of whether the simplification of accounting regulations is necessary or not, particularly for those micro entities where ownership and management functions are integrated into the same person. In order to achieve the research objectives, the effects of accounting regulations simplification on decision-making processes in micro entities were tested. Empirical research has confirmed that the simplification of accounting regulation is justified, because it would have effects on the cost reduction, while the information quality base will not be diminished.
The Accounting Directive 2013/34/EU has impacted all the EU Member States due to their obligation to transpose it into the national legal acts. The paper deals with the Croatian and German ...regulations against the Accounting Directive. Since the Directive offers several alternatives for which national regulators should decide what to include in the legal framework, there are certain differences among the EU Member states. The goal of the paper is to analyze the case of Croatian and German accounting in the light of regulations and standards. The selected countries are important strategic and trading partners and the number of subsidiaries in Croatia formed by German entities increases. The methodology includes the analysis of accounting legal framework in the observed countries in the light of the Accounting Directive implementation, the role of Companies act and the financial reporting standards in prescribing accounting principles and the interrelation between financial and tax accounting. Although both countries have implemented the Directive, our research results indicate that there is a difference between the accounting systems. German accounting principles are defined through the German Companies Act whereas the Croatian Accounting Act represents the top act in charge of accounting in Croatia supplemented with the CFRS and IFRS. As a consequence, the difference is also found in the interdependence between financial and tax accounting. However, there are some similarities indicated, as the commercial balance sheet should be adjusted for the purpose of taxation in both countries.
Cel: Artykuł zawiera analizę porównawczą systemów rachunkowości w krajach Europy Środkowej i Wschodniej – Chorwacji, Polsce i Słowacji. Głównym celem artykułu jest wyjaśnienie różnic między ...analizowanymi systemami, a także ekonomicznych, historycznych i kulturowych przyczyn ich występo-wania. Metodyka/podejście: Badania oparte na analizie porównawczej chorwackich, polskich i słowackich przepisów rachunkowości pozwalają stwierdzić ważne różnice w standardach rachunkowo-ści, mimo bliskości geopolitycznej analizowanych krajów i ich słowiańskich korzeni. Wyniki: W artykule wykazano, że różnice ekonomiczne między krajami mogą wpływać na rozwój ich systemów rachunkowości. Z badań wynika, że przystąpienie do Unii Europejskiej miało znaczący wpływ na rozwój rachunkowości w tych krajach. Ponadto nasze badanie zweryfikowało, czy różnice kulturowe wpływają na systemy księgowe i sprawozdawczość finansową w analizowanych krajach. Oryginalność/wartość: Wskazane podobieństwa i różnice w systemach rachunkowości mogą pomóc organom regulacyjnym w ocenie rzeczywistych możli-wości harmonizacji przepisów dotyczących rachunkowości w państwach członkowskich Unii Europejskiej w obliczu czynników ekonomicznych i kulturowych.
Zrakoplovna industrija nezaobilazna je u razvoju gospodarstva, zapošljava veliki broj ljudi te participira u stvaranju značajnog udjela bruto društvenog proizvoda te je jedna od industrija koje su ...najviše pogođene pandemijom Covid-19. Ovaj rad se bavi istraživanjem financijske fleksibilnosti zračnih prijevoznika u uvjetima poslovanja zahvaćenim pandemijom Covid-a 19. Ciljevi istraživanja su utvrditi glavne pokazatelje zrakoplovne industrije u razdoblju pandemije Covid-19, pojasniti povezanost likvidnosti i zaduženosti u okviru financijske fleksibilnosti poduzeća te na uzorku odabranih najvećih zračnih prijevoznika utvrditi promjene u njihovoj likvidnosti i zaduženosti tijekom 2020. godine u odnosu na prethodnu. Rezultati istraživanja pokazuju kako je u kratkom roku financijska fleksibilnost promatranih zračnih prijevoznika pogoršana u kontekstu zaduženosti dok se takav trend promjene likvidnosti nije primijetio na razini godišnjih izvještaja niti na razini kvartalne analize. Kao glavni razlozi zašto je zaduženost osjetljivija nego likvidnost promatranih poduzeća u kratkom roku navode se politike upravljanja likvidnošću te dodatni poticaji od strane država kojima se nastojalo umanjiti negativne posljedice pandemije na ovu granu industrije.
The accounting treatment of real estate varies depending on the intended purpose of the acquired property. This paper discusses the theoretical and practical aspects of the accounting standards for ...treatment of the item investment property according to the International Financial Reporting Standards (IFRS), the Croatian Financial Reporting Standards (CFRS) and the International Financial Reporting Standards for Small and Medium Sized Enterprises (IFRS for SMEs). The theoretical part of the paper analyzes different models for measuring and accounting for investments in real estate according to different accounting standards. Particular attention is paid to the notes to the financial statements. The empirical part of the paper is an extension of the research conducted in 2013 on a sample of quoted companies in Croatia. The analysis of the financial statements of quoted companies shows that they did not disclose all relevant information on investments in real estate in the notes to the financial statements. To determine whether there were any improvements in financial reporting on investments in real estate, we have compared the results for 2017 with the results for 2013.
Accounting estimates occur because a large number of items in financial statements cannot be measured precisely but can only be estimated. Significant accounting estimates are disclosed in the notes ...to the financial statements. The aim of the paper was to identify whether Croatian quoted companies disclose all information about accounting estimates related to the Investment property, as required by IAS 40. The research included 132 quoted companies in Croatia that apply IFRSs. The research results showed that investment property has a relatively small share in the structure of total assets of quoted companies in Croatia, which is probably one of the reasons why related accounting estimates published in the notes are brief and incomplete. The general conclusion is that the notes regarding accounting estimates on investment property are composed of definitions set in the standard, instead of providing more transparent information for investors and other interested users of financial statements. As expected, the companies with the higher share of investment property have shown greater level of transparency, providing additional information which is not required by the standards.
Značajniji procesi privatizacije počeli su krajem prošlog stoljeća. Sam početak i trajanje privatizacije specifično je za svaku zemlju. Mnoge zemlje prepoznale su brojne prednosti privatizacije u ...obliku ostvarivanja financijskih ciljeva kao što su primjerice povećanje državnog proračuna, smanjenje zaduženosti te u konačnici i jačanje gospodarstva. Nerijetko se naglašava kako je privatno vlasništvo pretpostavka ostvarivanja bolje uspješnosti poslovanja pojedinog poduzeća, stoga je temeljna svrha ovog istraživanja bila utvrditi utjecaj procesa privatizacije na uspješnost poslovanja odabranih poduzeća u Republici Hrvatskoj. Metodologija ovog istraživanja obuhvaća dva temeljna dijela. U prvom dijelu provodi se teoretska analiza utjecaja privatizacije na uspješnost poslovanja. Pored toga, provedene su dvije empirijske analize na odabranim poduzećima u Republici Hrvatskoj. Poznato je da je podloga za oblikovanje financijskih izvještaja upravo računovodstveni informacijski sustav poslovnog subjekta u koji se unose i evidentiraju brojni poslovni događaji u skladu s pravilima ove struke. Tako pripremljeni financijski izvještaji koriste se za ocjenu uspješnosti poslovanja i financijskog položaja poduzeća. Iz tog razloga, provedena analiza temelji se na financijskim izvještajima odabranih poduzeća a sama analiza je oblikovana u dva smjera. Prva analiza provedena je na temelju odabranih financijskih izvještaja prije i nakon procesa privatizacije uz pomoć analize kvartila. Financijski pokazatelji na osnovi kojih je provedena ova analiza jesu: bruto marža profita, povrat na imovinu, povrat na glavnicu, koeficijent obrta ukupne imovine i pokazatelj ekonomičnosti ukupnog poslovanja. S druge strane, kako bi se dobio pojedinačni utjecaj procesa privatizacije na poduzećima obuhvaćenim analizom provedena je dublja analiza pokazatelja. U tom kontekstu, izračunati su odabrani financijski pokazatelji na istom istraživačkom uzorku te su uspoređeni rezultati prije i poslije privatizacije zasebno za svako promatrano poduzeće. Rezultati istraživanja dobiveni pomoću analize kvartila upućuju na postojanje razlike u uspješnosti poslovanja analiziranih poduzeća prije i nakon procesa privatizacije i prema njima privatna poduzeća su pokazala veću razinu uspješnosti nego državna – javna poduzeća. Međutim, rezultati dobiveni na osnovi pojedinačne analize tih istih poduzeća samo djelomično potvrđuju hipotezu da su privatna poduzeća uspješnija nego javna.
Vrhovne revizijske institucije od presudnog su značaja za ocjenu vjerodostojnosti i istinitosti financijskih izvještaja, zakonitog trošenja sredstava kao i primjene zakonskih propisa subjekata u ...javnom sektoru. Pored toga, ove institucije doprinose povećanju učinkovitosti, ekonomičnosti i djelotvornosti obavljanja aktivnosti, projekata odnosno poslovanja ovih subjekata. Svrhovitost vrhovnih revizijskih institucija za pojedinu zemlju vidljiva je i na indirektan način, kroz brojne uštede koje ove institucije ostvaruju. Kako postoje različiti načini organizacijskog ustroja vrhovnih revizijskih institucija, određene sličnosti ali i razlike u opsegu i načinu njihova djelovanja temeljni cilj ovog rada je provesti komparativnu analizu ustroja, normativnog okvira, subjekata revizije kao i opsega provedenih pojedinih vrsta državne revizije u Republici Hrvatskoj i Bosni i Hercegovini.
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