Comparative Survey on the Records of Fixed Assets of Companies and Public Institutions

This paper deals by way of comparison with the theoretical and practical methods to record the output and input of tangible fixed assets (non-current assets) in and from the patrimony of companies, on the one side and of public institutions, on the other side, intending to point out the differences and similarities, in compliance with the national norms and international standards of accounting (IAS and IPSAS, as the case may be).fixed assets, long-term assets, non-current assets, tangible fixed assets, IAS, IPSAS

International Financial Reporting Standard 5 - Non-Current Assets Held for Sale and Discontinued Operations

International Financial Reporting Standard 5 has the working title Non-current assets held for sale and discontinued operations. This fi nancial reporting standard also represents a new group of standards along with the previous four, including existing International Accounting Standard, regardless if it concerns existing or revised standards, as a wish for further coordination of accounting regulations on world level. This idea is a concretisation of the wishes of International Accounting Standards Board, that at prior wish to establish specific rules in woods of existing rules imposing financial reporting standards as vital in financial reporting. This standard replaces existing International Accounting Standard 35 - Discontinuing Operations and achieves substantial convergence with the requirements of SFAS 144 Accounting for the Impairment or Disposal of Non-current Assets that are synonyms for assets held for sale, followed by specifying the conditions for its classification, and in the final are determined the ways of presentation and publishing of those type of activities. This way it is wished to reduce or at least abate the differences between US GAAP and International Financial Reporting Standards through joined short - term convergence project of American Accounting Standards and IFRS 5.International Financial Reporting Standard, International Accounting Standard, International Accounting Standards Board, US GAAP, non-current assets held for sale, discontinued operations

OVERVIEW OF THE RELEVANT INDICATORS OF DEFAULTED AND NON-DEFAULTED COMPANIES AND POSSIBILITIES OF IMPROVEMENT FOR THE RATING SYSTEMS USED BY THE ROMANIAN COMMERCIAL BANKS

Since the beginning of the financial and economic crises many news came to light which discussed the increasing number of non-performing loans, and the fact that as a result of the company break-downs, the bank portfolios have also gone worse and worse. In this paper our goal is to find out which internal factors influence the solvency of a company, therefore, to point out the weaknesses of the current Romanian rating systems, which as we will see, do not take into only relevant criteria when according a loan to a company. In order to conduct this study, we choose 18 indicators from several categories to predict bankruptcy. Some of the indicators mentioned above are really common in the international and the Romanian literature (e.g. ROA, ROE, ROS, assets turnover ratio), some of them are less. On a sample of 3000 Romanian companies we use the T-test statistical method to find out if an indicator is significant or not. The sample consists of companies (defaulted and non-defaulted as well) which have presented their financial statements (balance, profit and loss account between 1999 and 2008). For each company a set of 18 financial indicators was calculated, but the results obtained show that only 8 of them is significant in predicting bankruptcy: ROA, assets turnover ratio, equity/total assets, general leverage, current assets to total assets, cash to total assets, total assets and sales. In the next step, by analyzing the obligatory forms used in credit lending, we conclude which indicators are used by different Romanian commercial banks. We found that only four out of seven banks calculate all of the significant indicators identified in the first part of the paper. Finally, we made a proposal about which quantitative indicators should the banks use to minimize the credit losses and to avoid the overdue payments. In addition, we consider that the banks should pay attention to the qualitative factors as well to effectively filter out non-performing loans.corporate failure, default, risk, financial ratios, rating systems, Romania

A Note on Endogenous Time Preference and Monetary Non-Superneutrality

We suggest a simple variant of Uzawa preferences which has the same predictions as his formulation, but is less prone to criticism. We assume that the rate of time preference is an increasing function of the total value of current financial assets. It is shown that an increase in the rate of money growth will initially reduce the real value of financial assets, reducing the rate of time preference, increasing savings and the steady state capital stock. This provides a restatement of the Mundell-Tobin effect in an optimizing framework.Monetary Non-Superneutrality, Time Preference, Financial Assets

ISSUES RELATED TO THE ACCOUNTING TREATMENT OF THE TANGIBLE AND INTANGIBLE ASSETS DEPRECIATION

The issue of accounting depreciation is an older concern of this study's authors on the incidence over the true and fair view of the earning and the net value of the non- current assets. Proceeding from the consideration that the present depreciation methods, acknowleged by the accounting standards and regulations are not sufficient to render the reality of the irreversible impairment of the fixed assets nor that of the material and immaterial investment recovery we performed a research on the indicators reported by 20 companies in Cluj county and we applied a questionnaire to each entity on the depreciation methods used, their incidence on the true and fair view and their proposals for the completion of the depreciation methods. The objective of the research is to identify the most appropriate depreciation methods, truthfully illustrating the effects of the irreversible impairment on the net asset and on the earning, to introduce the excluded assests in the cathegory of the non-current assets ( like property and plant, goodwill, intangible assets created with ones own strengths) and the enforcement of appropriate treatments to the revaluation differences and their own overhead investments. The International Accounting Standard IAS 16 - Property, plant and equipment refers to three depreciation methods: the straightline method, the diminishing balance method and the technical depreciation method (units of production method). In Romania only two of these methods are accepted: the straightline method, the diminishing balance method and the accelerated method was additionally instilled, which is used internationally in exceptional situations and not currently. The results of the research led us to the following conclusions: - for the depreciation of the machinery, facilities and technological equipments it is recommended to use the technical depreciation method or the units of production method;  taking into consideration the financial conception on the non-current assets the depreciation of all cathegories of tangible and intangible assets is recommended, the purpose being the gradual recovery of the investment in these assets and not the covering of the wear and tear or obsolescence; - the surplus value resulted from the revaluation of the tangible assets musn't be depreciated because it generates in fictional expenses; - the depreciation of the overhead assets musn't be acknowledged as an expense but it should be treated as a reduction in the income resulting from fixed assets;  the completion of the depreciation concept with its financial meaning, namely the process of recovering the investments in tangible and intangible assets; The application of the research results leads to correcting the image provided by financial reportings on the tangible and intangible assets contribution to the income, the depreciation's reflection in the expenses and the net value of these assets. The contribution of the authors consists in interceding to ensure the application of the research results by modifying and completing the national accounting rules in order to achieve accounting's consecrated objective: reproducing a true and fair view on the financial position and performances. These issues have not been addressed in other specialty studies in the country or abroad.irreversible depreciation, accounting depreciation, technical depreciation depreciation, provision for positive reevaluation diferences

COMPARATIVE ANALYSIS REGARDING THE AMORTISATION OF NON CURRENT ASSETS IN A NATIONAL AND INTERNATIONAL CONTEXT

In Romania, starting from the Regulationas requests (CE) no. 1606/2002 and the national regulations are obliged to apply the IFRS starting with 1st of January 2007 the entities whose immovable values, at the balance date, are admitted to the transactionamortization, non current assets, accounting information, IAS-IFRS.

Pengaruh Manajemen Modal Kerja terhadap Profitabilitas Perusahaan Non Keuangan yang Terdaftar di Bursa Efek Indonesia

Penelitian ini mempelajari pengaruh manajemen modal kerja terhadap profitabilitas Perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia. Variabel yang digunakan untuk mengukur manajemen modal kerja adalah cash conversion cycle, gross working capital turnover ratio, current assets to total assets ratio, current liabilities to total assets ratio, dan current ratio, sedangkan profitabilitas diukur dengan return on assets dan return on equity. Perusahaan yang diteliti sebanyak 139 Perusahaan non keuangan untuk seluruh sektor, kemudian dianalisis lagi untuk masing-masing sektor yaitu sektor utama (industri penghasil bahan baku), sektor kedua (industri manufaktur), dan sektor ketiga (industri jasa), dengan periode penelitian tahun 2011-2013. Dengan menggunakan analisis regresi berganda, hasil yang diperoleh adalah manajemen modal kerja tidak mempunyai pengaruh terhadap profitabilitas Perusahaan non keuangan untuk seluruh sektor. Pengaruhnya terjadi hanya pada sektor utama (industri penghasil bahan baku). Hal ini menunjukkan bahwa manajemen modal kerja bukan merupakan penentu bagi peningkatan profitabilitas Perusahaan. Manajemen modal kerja belum dikelola secara efektif dan efisien untuk menciptakan penjualan sehingga menghasilkan keuntungan bagi Perusahaan

Оцінка формування необоротних активів підприємства (Estimation of non-current assets for enterprise)

У статті визначено сутність необоротних активів підприємства, наведено основні джерела їх формування. На прикладі одного з найбільших підприємств України здійснено аналіз джерел формування необоротних активів. Також виконано оцінку показників забезпеченості, стану та руху основних засобів, визначено тип їх відтворення, як основної складової необоротних активів, що забезпечує процес господарської діяльності підприємства. (The article deals the essence of non-current assets of the company, are main sources it. There are analysis sources of non-current assets for example one of the biggest company in Ukraine. Also, there are of indicators of company, status and movement of fixed assets, identify type of reproduction, that are ensuring the process of business enterprise.

Preparing for retirement: the pension arrangements and retirement expectations of those approaching state pension age in England

This paper provides a detailed analysis of individuals in households in England aged between 50 and the State Pension Age in terms of their private pension arrangements and current non-pension assets alongside their expectations of future economic circumstances. Our descriptive findings include that members of defined benefit pensions have higher average levels of current earnings than members of defined contribution pensions and that median expected private pension income in retirement is highest for current members of defined benefit schemes. We find that on average those who have, or have had, a private pension have greater non-pension wealth than those who have never had a private pension. In terms of expectations of the future we find that it is those who have the fewest assets who have the least attachment to the labour market and are far less likely to expect any inheritance. Hence we conclude that inequalities in different dimensions of retirement resources tend to reinforce themselves as opposed to offset each other. This working paper was updated in October 2005 to take account of revised housing wealth numbers. Appendices containing additional tables can be downloaded here: Section 2 pdf file [138 KB]; Sections 3 pdf file [119 KB]; Section 4 pdf file [179 KB];