The primary objective of financial reporting in a modern market economy, which is based on the capital market, is to inform the investor about the financial position of a business entity. The ...unavoidable theme in modern accounting research is the valuation of balance sheet positions, regardless of the type and size of the business entity whose reports are the subject of this paper. The purpose of the research is to investigate whether there is a connection between the frequency of applying the accounting concept of fair value in valuing property positions and the quality of financial statements for businesses in Bosnia and Herzegovina. The target population comprises 34,515 small, medium and large enterprises registered as joint stock companies and limited liability companies in Bosnia and Herzegovina, and the questionnaire will be used as the empirical research instrument. The questionnaire is structured in parts to obtain knowledge about which technique or approach business entities use when using the fair value for the valuation of balance sheet items, and consequently how it affects the relevance, comprehensibility, comparability and credibility of the information presented in the financial statements.
The aim of the paper is to clarify and systematize the methods of evaluating customers’ profitability on a scientifically based methodology. It also aims at investigating the relationship between ...business results achieved by individual sectors in the companies from the Tuzla Canton (TC) and the applied method of profitability management, in the function of generating such results. The analysis was conducted on the appropriateness of the current approach to profitability management according to information resources which served as the basis of the approach. Certain limitations were identified, which in practice lead to an inaccurate evaluation of customers’ profitability. The transitional economy, characterized by macroeconomic instability and a low competitiveness factor in general, along with other numerous external limitations, requires that companies effectively rearrange their value chain, in the function of finding internal resources, in order to achieve long-term profitability of the customer portfolio management. The origin of modern trends in creation and maintenance of comparative advantages of the company lies in adoption of the “Customer Relationship Management” (CRM) business philosophy. The research results indicate insufficient knowledge of the management about the key “drivers” of success in achieving comparative advantages and point to inadequate organization of the accounting function which is not able to support a modern approach to business performance management.
U računovodstvenoj teoriji i praksi smatra se kako vrednovanje bilančnih pozicija po modelu fer vrijednosti osigurava objektivnije i točnije financijsko izvještavanje, čime se u biti osigurava ...povećanje transparentnosti i korisnosti financijskih izvještaja za korisnike informacija financijskih izvještaja. Ipak, uvijek se postavlja pitanja jesu li očekivanja korisnika u dovoljnoj mjeri ispunjena, te je li mjerenje fer vrijednosti adekvatno i aplikabilno u određenim okolnostima.
Na temelju toga pozornost će se usmjeriti na provjeru tvrdnje: vodi li primjena fer vrijednosti na bilančnim pozicijama bosanskohercegovačkih poslovnih subjekata ka korektnijem i objektivnijem financijskom izvještavanju i višoj razini povjerenja u financijske izvještaje.
Prilikom analize obuhvatit će se imovina i izvori imovine. Procjena stalnih sredstava po fer vrijednosti ima pozitivne učinke na podatke prikazane u financijskim izvještajima, kroz poboljšan imovinski i financijski položaj poduzeća, smanjen stupanj zaduženosti poduzeća i mogućnost korištenja realiziranih revalorizacijskih rezervi. Također, primjena fer vrijednosti u ekonomijama sa manje razvijenim tržištem kapitala, kao što je BiH, često je motivirana efektima koje ima na određene pokazatelje uspješnosti, prilikom aplikacije za bankarske kredite.
S obzirom na sve izneseno, cilj rada je istražiti i sažeti načine primjene fer vrednovanja na bilančnim pozicijama i kritički preispitati efekte njene primjene na financijske izvještaje u bosanskohercegovačkim poslovnim subjektima. Teorijsko istraživanje, upotpunit će se empirijskim istraživanjem zasnovanim na anketnom upitniku, čiji će rezultati biti obrađeni i analizirani uz pomoć deskriptivne statistike i t-testa.
In the accounting theory and practice, it is considered that the valuation of balance sheet items according to the fair value model ensures more objective and accurate financial reporting, which ...essentially ensures an increase in the transparency and usefulness of financial statements for users of financial statement information. However, the question always arises is whether the user's expectations have been sufficiently met, and whether the measurement of fair value is adequate and applicable in certain circumstances. Based on this, attention will be focused on verifying the assertion: whether the application of fair value in the balance sheet positions of BiH business entities leads to more correct and objective financial reporting and a higher level of confidence in the financial statements.
The analysis will include assets and sources of assets. Valuation of fixed assets at fair value has positive effects on the data presented in the financial statements, through improved property and financial position of the company, reduced level of indebtedness of the company and the possibility of using the realized revaluation reserves. Also, the application of fair value in economies with less developed capital markets, such as BiH, is often motivated by the effects it has on certain performance indicators, when applying for bank loans.
Given all the above, the aim of this paper is to explore and summarize the ways of applying fair value in balance sheet items and to critically review the effects of its application on the financial statements of BiH businesses. Theoretical research will be complemented by empirical research based on a questionnaire, the results of which will be processed and analyzed with the help of descriptive statistics and t-test.
Kreativno računovodstvo je prvobitno bilo zamišljeno kao način da se realno prikaže stvarno stanje financijskog položaja i uspješnosti neke kompanije i način da se uz povijesni prikaz vrijednosti ...omogući i realni iskaz trenutne (tržišne) vrijednosti imovine, obveza i kapitala. Vremenom je kreativno računovodstvo poprimilo različite pojavne oblike. Oblici u kojima se najčešće pojavljuje su: upravljanje zaradama (eng. Earnings management), nasilno (agresivno) računovodstvo (eng. Agresive Accounting), izravnavanje zarada (eng. Income smoothing) i lažiranje računovodstvenih izvještaja ili prevarantsko računovodstveno izvještavanje (eng. Fraudulent financial reporting), dok se kao najčešće primjenjivane tehnike kreativnog računovodstva u literaturi navode tehnike: računovodstva „velikog čišćenja“ (eng. Big-bath Accounting), stvaranja rezervi u „kasici“ (eng. Cooke-jar reserves), priznavanja prihoda unaprijed, odgađanja priznavanja troškova, kapitalizacije troškova materijalne i nematerijalne imovine i dr.
Svrha ovog rada jeste ukazati na značaj skrivanja dobiti, kao obliku upravljanja zaradama, te tehnici kreativnog računovodstva „velikog čišćenja”, kao instrumentu za provođenje navedenog postupka. S tim u vezi, cilj rada bi bio kreiranje modela za otkrivanje računovodstva „velikog čišćenja” u financijskim izvještajima, s posebnim osvrtom na segment agresivnog otpisivanja potraživanja. Rad se sastoji iz pet dijelova. Prvi dio razmatra kreativno računovodstvo i razvoj forenzičkih istraživanja. Predmet drugog dijela jeste razrada teorijskog aspekta analitičkih postupaka, tehnika i modela svojstvenih forenzičko računovodstvenim istragama. U trećem dijelu se razmatra računovodstvo „velikog čišćenja“. Predmet četvrtog dijela jeste kreiranje modela za otkrivanje računovodstva „velikog čišćenja“ u financijskim izvještajima, dok se u petom dijelu provodi testiranje modela na studiji slučaja.
U Bosni i Hercegovini (BiH) budžetsko računovodstvo je zakonski regulirano i nalaže primjenu modela modificirane obračunske osnove, za razliku od profitnog sektora, u kojem se koristi model ...obračunske osnove. Stalni trend rasta javne potrošnje, nedostatak budžetskih sredstava za financiranje rastućih javnih potreba, te sve veća spremnost države da u svoje projekte uključi privatne poduzetnike, utjecale su na početak procesa uvođenja ekonomskih zakonitosti i tržišnih kriterija ponašanja u područje javnog sektora. Zbog navedenog, budžetsko računovodstvo je predmet stalnog istraživanja i razvoja. Predmet istraživanja ovog rada odnosi se na mogućnost primjene modela obračunske osnove i Međunarodnih računovodstvenih standarda za javni sektor, u svrhu dobivanja kvalitetnijih računovodstvenih informacija u financijskim izvještajima budžetskih korisnika u Federaciji Bosne i Hercegovine (F BiH). Osnovni cilj rada je ukazati na opravdanost uvođenja modela obračunske osnove prilikom sastavljanja financijskih izvještaja budžetskih korisnika, u cilju objektivnijeg iskazivanja financijskog položaja i rezultata poslovanja. Empirijskim istraživanjem potvrđeno je kako primjena modela obračunske osnove u računovodstvu budžeta F BiH osigurava objektivno iskazivanje financijskog položaja i rezultata poslovanja. Većina budžetskih korisnika je za poboljšanje postojećeg računovodstvenog sustava i spremni su prihvatiti promjene.
U ovom radu se ispituju odnosi koji postoje između vlasničke strukture, računovodstvenog konzervatizma i manipulacije zaradama. Upravljanje zaradama, kao jedan od oblika manipulativnog računovodstva, ...povećava rizičnost ulaganja novih vanjskih investitora (outsidera) i potencijalno dovodi do informacijske asimetričnosti u odnosu na menadžere i postojeće dioničare kompanije (insaidere), što na koncu rezultira smanjenom investicijskom efikasnošću. Cilj rada je istražiti u kojoj mjeri vlasnička struktura utječe na odabir konzervativnih računovodstvenih politika i na upravljanje zaradama u financijskim izvještajima, te da li se, posredno, računovodstveni konzervatizam može koristiti kao sredstvo za smanjenje mogućnosti manipulacije zaradama. Istraživanje je provedeno na uzorku od 59 bosanskohercegovačkih kompanija koje kotiraju na sarajevskoj i banjalučkoj burzi, u razdoblju od 2012. do 2016. godine. Primjenom regresijske analize došlo se do zaključka kako vlasnička struktura ima bitan utjecaj na odabir konzervativnih računovodstvenih politika i upravljanje zaradama. Regresijski modeli su naglasili ulogu i značaj nekih oblika vlasništva u oba aspekta istraživanja. Korelacijska analiza na dostupnim podacima pokazuje da povećani indeks konzervatizma, u pravilu, znači smanjena razina zarada i obratno. Uočljivi su različiti utjecaji spomenutih odnosa na ove dvije burze, što otvara prostor za dodatne analize.
This paper examines relations that exist between structure of the ownership, accounting conservatism and manipulation of earnings. As one of the forms of manipulative accounting, the management of ...earnings increases the risk of investing by new external investors (outsiders) and potentially leads to informational asymmetries in relation to managers and existing shareholders (insiders), which ultimately results in reduced investment efficiency. The aim of this paper is to investigate to what extent the ownership structure influences the selection of conservative accounting policies and management of earnings in the financial statements, and whether, indirectly, accounting conservatism can be used as a means of reducing the possibility of manipulation of earnings. The survey was conducted on a sample of 59 BH companies listed on the Sarajevo and Banja Luka stock exchange in the period from 2012 to 2016. Applying the regression analysis , it was concluded that the ownership structure has a significant impact on selection of conservative accounting policies and management of earnings. Regression models emphasized the role and importance of some forms of ownership in both aspects of research. Using available data, correlation analysis shows that the increased index of conservatism, as a rule, means a reduced level of profit and vice versa. Different effects of these relations are evident on these two stock exchanges, which opens possibilities for additional analysis.
The primary objective of financial reporting in a modern market economy, which is based on the capital market, is to inform the investor about the financial position of a business entity. The ...unavoidable theme in modern accounting research is the valuation of balance sheet positions, regardless of the type and size of the business entity whose reports are the subject of this paper. The purpose of the research is to investigate whether there is a connection between the frequency of applying the accounting concept of fair value in valuing property positions and the quality of financial statements for businesses in Bosnia and Herzegovina. The target population comprises 34,515 small, medium and large enterprises registered as joint stock companies and limited liability companies in Bosnia and Herzegovina, and the questionnaire will be used as the empirical research instrument. The questionnaire is structured in parts to obtain knowledge about which technique or approach business entities use when using the fair value for the valuation of balance sheet items, and consequently how it affects the relevance, comprehensibility, comparability and credibility of the information presented in the financial statements.
The aim of the paper is to clarify and systematize the methods of evaluating customers’ profitability on a scientifically based methodology. It also aims at investigating the relationship between ...business results achieved by individual sectors in the companies from the Tuzla Canton (TC) and the applied method of profitability management, in the function of generating such results. The analysis was conducted on the appropriateness of the current approach to profitability management according to information resources which served as the basis of the approach. Certain limitations were identified, which in practice lead to an inaccurate evaluation of customers’ profitability. The transitional economy, characterized by macroeconomic instability and a low competitiveness factor in general, along with other numerous external limitations, requires that companies effectively rearrange their value chain, in the function of finding internal resources, in order to achieve long-term profitability of the customer portfolio management. The origin of modern trends in creation and maintenance of comparative advantages of the company lies in adoption of the “Customer Relationship Management” (CRM) business philosophy. The research results indicate insufficient knowledge of the management about the key “drivers” of success in achieving comparative advantages and point to inadequate organization of the accounting function which is not able to support a modern approach to business performance management.
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