The Need of Changes in Traditional Accounting Systems Necessitated by Modern Intellectual Capital Conception

While economists, business people and policy analysts continue to debate the question of what is "new" about the so-called "New Economy", globalization, urgency of innovation and intensive use of Information technology, one important feature of modern Corporation in the early twenty-first century seems clear: intangible factors are playing an increasingly dominant role in business wealth creation. The drivers of tomorrow's wealth are brands, networks, knowledge, innovation, relationships, competencies, corporate culture and leadership, and these are the new critical assets - the weightless keys to business future wealth. But despite the growing awareness of the importance of intangible assets, they remain almost universally ignored in traditional accounting and reporting procedures. The authors in this article analyze the main problems concerning difficulties to reflect intangibles in traditional accounting statements and project the tendencies of reporting intangible-related information in future accountability.Podczas gdy ekonomiści, przedsiębiorcy i politolodzy dyskutują nad tym, co jest "nowego" w tzw. Nowej Ekonomii oraz nad zagadnieniami związanymi z globalizacją i potrzebą innowacji oraz szerokiego korzystania z technologii informatycznej, jedna kwestia nie ulega wątpliwości, jeśli chodzi o zmiany w przedsiębiorstwie XXI w.: czynniki niematerialne odgrywają coraz większą rolę w tworzeniu wartości. Czynniki kluczowe w kreowaniu przyszłego bogactwa to znaki firmowe, systemy połączeń i kooperacji, wiedza, innowacje, relacje, wartości, kultura organizacyjna i przywództwo. Ale chociaż świadomość znaczenia aktywów niematerialnych i prawnych jest coraz większa, tradycyjna rachunkowość i sprawozdawczość niemal całkowicie je ignoruje. Autorzy tego artykułu analizują najważniejsze problemy, wynikające z trudności odzwierciedlenia aktywów niematerialnych w tradycyjnych sprawozdaniach finansowych oraz ukazują kierunki przyszłego rozwoju rachunkowości w tym zakresie.Nepaisant augančio nematerialaus turto svarbos suvokimo, daugelyje šalių jis iślieka ignoruojamas tradicineje atskaitomybeje ir ataskaitų procedūrose. Praktiškai visos nematerialios investicijos finansinese ataskaitose yra fiksuojamos kaip iślaidos, bet ne kapitahzuojamos (traktuojamos kaip turtas), ir nuamortizuojamos prognozuojamame naudos laikotarpyje. Materialaus-nematerialaus turto asimetnja stingant informacijos apie investicijas į nematerialų turtą daro socialinę ir ekonominę żalą. Sio straipsnio autoriai analizuoja pagrindines nematerialaus turto atspindejimo tradicinese finansinese ataskaitose sunkumų problemas, pasiūlydami jų sprendimo būdus ir prognozuodami informacijos apie nematerialų turtą fiksavimo ateitį atskaitomybėse.Zadanie pt. Digitalizacja i udostępnienie w Cyfrowym Repozytorium Uniwersytetu Łódzkiego kolekcji czasopism naukowych wydawanych przez Uniwersytet Łódzki nr 885/P-DUN/2014 zostało dofinansowane ze środków MNiSW w ramach działalności upowszechniającej naukę

Formes coopératives hybrides

On constate avec un intérêt croissant la transformation d’organisations du tiers secteur en organisations hybrides. Les chercheurs se sont penchés sur les processus d’« hybridation » ayant mené au développement de l’entreprise sociale, dont l’incarnation la plus remarquable est le modèle italien de la coopérative sociale. Il s’agit d’un modèle doublement « hybride », tant par son mode de gouvernance que par la diversité de ses pourvoyeurs de ressources. D’autres formes hybrides de coopératives se sont développées au cours de ces dernières années, en particulier dans le secteur des coopératives agricoles, qui ont adopté certaines pratiques des entreprises privées (par exemple au niveau des droits de vote). D’autres formes d’hybridation ont concerné les coopératives de consommateurs ou les coopératives ouvrières. Parfois, ce processus s’opère au niveau multi-organisationnel, avec le développement de structures de holding, lorsqu’une coopérative diversifie ses activités en créant une filiale ou en ayant recours à une structure d’entreprise traditionnelle. Abstract in English: There is growing interest in the transformation of third sector organizations into hybrid forms of organization. Researchers focus attention on some of the ‘hybridization’ processes that lead to the development of what is often recognized as a major new hybrid organization: the social enterprise. One of the most notable examples of this is the social cooperative model in Italy, which is “hybridized” in two respects: firstly in adopting a multi-stakeholder governance structure and secondly in terms of using multiple resources. We have also witnessed other hybrid forms of cooperatives develop over the years, particularly in the agricultural cooperatives sector, where we have seen changes (for example in voting rights) moving the form closer to that of private business. And in the consumer cooperatives and worker cooperatives sectors we have seen other patterns of hybridization. Sometimes this functions at the multi-organizational level, where we have seen the growth of holding structures when a cooperative grows and diversifies by developing a line of business which is a wholly owned subsidiary of the cooperative and uses a conventional company structure

Innovative learning in action (ILIA) issue three: Employability, enterprise & entrepreneurship

The theme of the 3rd issue of ILIA is Employability, Enterprise and Entrepreneurship, reflecting the University of Salford’s Learning and Teaching Strategy and our Goal “To produce graduates with the skills, creativity, confidence and adaptability to succeed in the labour market and make a meaningful contribution to society”. The creativity, problem solving and change orientation this implies recognizes Salford’s distinctive strengths in this regard, and provides us with a conceptualization of employability which embraces enterprise and entrepreneurship, manifest in the form of selfemployment, but equally relevant to those working within organizations i.e. to intrapreneurship. The contributions to this edition provide us with examples of excellent practice demonstrating how practitioners at Salford have responded to the challenge of providing a quality learning experience for our students. Consideration of the papers and snapshots reveal how colleagues have embedded employability into teaching and learning and assessment strategies, and into frameworks of student support, in differing and innovative ways, across the institution. As this edition of ILIA goes to print work is underway to develop an Employability Policy and Strategy for the University. Designed to provide a coherent and progressive approach to Employability, Enterprise and Careers Education and Guidance, this Strategy will be able to build on the good practice evident both in this edition of ILIA and across the institution. ILIA therefore has once again provided us with a range of perspectives on a key area of curriculum design and development. It also has provided an opportunity to reflect on practice and student learning, to share experience and hopefully to identify future areas for collaboration

Knowledge-based entrepreneurship in Hungary

According to rich and growing empirical literature, one of the main deficiencies of Hungarian smes is their low growth potential. Survey results underline the strong influence of cultural factors including behavioral features rooted in the socialist era among the main explanatory factors of entrepreneurs' reluctance to expand activity and drive the company ahead, along the usual growth path. As opposed to this gloomy general picture, my field investigations have supported the hypothesis that knowledge-based entrepreneurs and companies are different from average Hungarian entrepreneurs and smes in many respects.entrepreneurship, knowledge, Hungarian economy, small enterprises

Knowing A Few Rules Doesn’t Mean You Can Play the Game : The Limits of “Best Practice” in Enterprise Systems.

We examine the common claim that "best practices" are encompassed and represented in Enterprise Systems (ES). We suggest that an ES can at best only represent the ostensive and not the performative elements of work tasks. Thus, representation of best practice in an ES does not take practical action into account. This has two important implications. First, ostensive abstractions of best practice in an ES are a sparse and superficial representation of a "good" business process, at a specific moment in time. Second, the practical understanding required for performance is often ignored in the ostensive representation of best practice in the implementation of an ES. This constrains user and business adaptability. Inflexible coding of ostensive business tasks furthermore leads to rigidity where flexibility should be sought, to keep on top of the competition. Implications and directions for further research are discussed

The Intangible Assets Investments: Accounting Treatment and Risks for Capital Investors and Management

In the knowledge-based economy, the fundamental determinants of the company’s value, in the present, have an intangible nature. The intangible investments are the most important factors of the enterprise success. Wealth, growth and welfare are driven nowadays by intangible investments. The knowledge economy is characterized by huge investments in human capital and informational technology. The current accounting regulation does not allow companies to capitalize a big part of investments in intangibles (produced by a company) and to report these as assets in the financial reports. There are inconsistencies regarding the book-keeping treatment of the two categories of intangible assets: internally generated and externally, acquired from the outside of the company.investments, intangible assets, valuation, book value, investors, managers.

Business Process Risk Management, Compliance and Internal Control: A Research Agenda

Integration of risk management and management control is emerging as an important area in the wake of the Sarbanes-Oxley Act and with ongoing development of frameworks such as the Enterprise Risk Management (ERM) framework from the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Based on an inductive methodological approach using literature review and interviews with managers engaged in risk management and internal control projects, this paper identifies three main areas that currently have management attention. These are business process risk management, compliance management and internal control development. This paper discusses these areas and identifies a series of research questions regarding these critical issuesRisk management; Internal control; Business processes; Compliance; Sarbanes-Oxley Act; ERP systems; COSO; COBIT

Agritourism and the farmer as rural entrepreneur: A UK analysis

Farm-based recreation or agritourism is increasingly seen as a diversification strategy to promote a more diverse and sustainable rural economy and to protect farming incomes against market fluctuation. Thus, farmers are increasingly being recognised as entrepreneurial, needing to develop new skills and capabilities to remain competitive. However, few studies have addressed the role of entrepreneurship within the context of the diversified farm tourism business. This paper examines the range of skills and competencies that farmers in the North West of England identify as important for successful diversification and explores the extent to which these competencies are evident. The findings indicate that although farmers are increasingly turning to agritourism as a means to generate additional income, they lack many of the fundamental business competencies required for success. A finding which has implications for rural development policies and signals the need to address these skill deficiencies through farm advisory processes and via more effective training and support of agritourism providers

Enabling initiation of a lean management system in SMEs: a case study of a high performance plastics manufacturer

This paper investigates the challenges in developing a Lean Management System in a typical Small to Medium Size Enterprise (SME’s) in the UK. Through a series of pilot projects measured and implemented by action research this case study reflects on the changes in mind-set and behaviours that are required on the part of the researcher in order to implement a Lean Manufacturing System. The implementation and suggestions by the researcher to adopt the observational methods such as visual data management and Hoshin Kanri were part of the action research. The data gathered influenced management strategy and planning to incorporate lean practices in the organisation. The actions and results were achieved by the workforce commitment to ensure embedding and sustainability for the future. Benefits realised included a 21% increase in on time delivery performance and cross functional problem solving actions resulted in a lead time reduction of 8 to 4 weeks