Ecobiology of Danaus chrysippus (Linnaeus, 1758) (Lepidoptera: Nymphalidae, Danainae) throughout the autumn – early winter breeding period on Rodos Island, Greece

The present study is focused on the biology and ecology of Danaus chrysippus on Rodos Island, Greece, contributing on the knowledge of its life cycle in nature throughout the autumn – early winter breeding period, which is described and illustrated here for the first time for the country. Distribution range, habitat requirements and larval hostplant preferences, which are closely related with specific microclimatic conditions and the availability of milkweed resources in the region, are discussed

Stress testing the effect of income tax scale on a full time agricultural income in Greece after the new tax legislation

The main purpose of this paper is to identify and point out changes in the tax burden on farm income given the new tax legislation of 2016 according to which the farm income has the same tax treatment as the rest of the professionals. The paper initially presents the key determinants of tax burden through the latest tax legislation, like the new tax scales, and the relative tax rates of each scale. Furthermore, it presents a theoretical model regarding an indicative Gross Revenue and a Cost Index of a full-time farmer. By choosing to apply Monte Carlo Simulation with the Pert Distribution as analyzed below; we use @ Risk software to stress the tax parameter of Tax Scales, with intervals of ±10%, to identify how the parameter, has influenced the tax burden of farm income. From the findings we can conclude that tax scale has an abnormal effect to the tax burden of the Farm Income as the second and not the third scale has the most significant effect. As tax legislation evolves every one or two years it is important to point out that regarding farmers income the tax scale has a non-gradual – non-linear effect, which must be corrected to be more equal distributed along the income tax scales.peer-reviewe

Accounting GAAPs and accounting treatments for management of property : case studies from Greek real estate market

The present article reconciles the GAAP to each other, which apply to accounting recording of fixed assets. It separates the fixed assets, from the side of buyer, as Own Used, Investments, and Inventories and integrates these types of assets into four main portfolio categories. It examines, what are the features to incorporate an element of fixed assets in these portfolios. It analyzes the accounting treatments for each portfolio transaction and the impact of any accounting entry to equity and profit and loss account. It presents the key accounting profitability metrics for any kind of fixed asset. The subject of the article focuses on land and buildings as main part of the total fixed assets of a company. It discusses the influence of taxations and other expenditures at purchase time on the cost and tries to establish a purchase price allocation method for property acquisition. It describes the accounting entries for the revenues, expenses and valuations per portfolio. It makes a comparative analysis between Greek GAAP, IFRS and U.S GAAP for accounting treatments of fixed assets. Finally, it uses the framework of Greek Real Estate Market as experimental setting where the principles of Historic Cost and Fair Value Accounting can be compared. The contribution of this article is that it surveys from a critical perspective, principles, literature and the practice about all the above issues, and presents from accounting point of view a way to managing and monitoring real estate investments.peer-reviewe

A Consistent Implementation of IFRS 13 and IAS 36 for Non-current Assets

There is much debate for both the academic community and accounting professionals with respect to the use of fair value and cost accounting, as well as the application of impairment to current and non-current assets. Fair value and impairment are two related concepts, the reason being that in order to proceed with the latter, the current market price of an asset should first be measured. IAS 36 came into force to stipulate that no asset should be valued above its current actual value. Assets’ revaluation affects not only the companies’ outcome but also the applied depreciation method, which must be adjusted accordingly to the new data. Assets that cannot be measured to their fair value, in accordance with the IAS instructions, are grouped to form identifiable units within the company that was able to generate cash inflows and be tested for impairment as a whole. In this article, we focused on presenting a methodology from a technical approach on these issues, whilst at the same time remaining compatible with the principles of both accounting and finance. Real-life data from existing companies have been used not only for the valuation of the same following their transformation into cash-generated units, but also for non-current assets by controlling both the impairment and the depreciation process. We use cash flow generation models through the business plan process and apply certainty and uncertainty techniques such as sensitivity analysis and Monte Carlo simulation. After having reviewed the estimations and bearing in mind the structure of the model, we have concluded that specific parameters are affecting the fair value measurement on non-current assets. The value of this article is to develop a methodology that can be easily applied to different companies and is compatible with the spirit and provisions of both the international accounting standards as well as those of financial accounting. Keywords: FVA, cost accounting, finance, impairment, O

Toward a common tax regime for the European Union countries

The tax burden on wages, profits, property, and goods or services has a serious impact on cross-country competiveness, something that, in turn, impinges strongly on the actual economy of common markets such as the European Union (EU). While the mobility of productive factors is directly related with country tax-regime differences, government budget funding from tax revenues and rates are the main fiscal policy tools. This article analyzes the trends, similarities and differences between the tax regimes of European Monetary Union (EMU) for the period from1995 to 2019. The methodologies we employ include time series analysis, regression analysis and multivariate cluster analysis. The data are mainly collected from the OECD database and tax revenue departments at country level. We argue that there are significant differences among the tax regimes of EU countries and that no policy has been implemented to ensure tax homogeneity across the EU, nor is there any likelihood of such. The anarchy in fiscal policy is an obstacle for the European Integration. Budget deficits have an impact on taxation and countries, invariably, manage the recent debt crisis by selecting different taxes as fiscal policy tools. Our article presents the differences between tax regimes of EMU countries and shows that the level of economic growth affects the structure of taxes at work and alters the performance of different types of taxes; is also wishes to explain the factors that differentiate tax regimes by using multi dimensional criteria and variance analysis. Our work contributes to the debate toward a common tax regime between EU countries and our analysis is concentrated on this.peer-reviewe

The clusters of economic similarities between EU countries : a view under recent financial and debt crisis

This article analyzes the clusters of similarities among EU member states before and during the recent financial and debt crisis, using variables from banking, taxation, government debt and deficit, and the Current Account of the Balance of Payment; our study follows the method of Multi-Sample Case of Cluster Analysis between and within groups of EU countries. Our findings show that the current economic crisis the EU is faced with is twofaceted and has arisen from the financial and banking sectors and from government debt. In this sense, problems have resulted from the credit policies of the national banking sectors and from national fiscal and budgetary controls. These two crisis facets are correlated and a new problem emerges concerning the fiscal similarities of European Monetary Union (EMU) countries and the necessity for a fiscal union or for common fiscal policies between them. The aim of this article is to help us understand that the current EU crisis is due to the lack of homogeneity in fiscal and financial polishes across the Union.peer-reviewe

Bionomics of Freyeria trochylus (Freyer, 1844) and Zizeeria karsandra (Moore, 1865) (Lepidoptera, Lycaenidae) on Rodos Island, Greece

This study is focused on the presence of Freyeria trochylus (Freyer, 1844) and Zizeeria karsandra (Moore, 1865) on Rodos Island, Greece. F. trochylus was first found there by Turati and Fiori in 1923 and Z. karsandra by Bender in 1958. The distributional range of both species in Europe including the Mediterranean and their habitat and ecology, including their associations with ants, together with their life history and larval hostplants are examined. The life cycle of Z. karsandra is described and illustrated here for the first time for Europe as a whole

The impact of taxes on real property assets: a managerial accounting and fiscal approach

This study aims at investigating the effects of the impact of taxes on real property assets examining the managerial issues arising. The accounting standards and methods followed affect the performance of property assets in financial statements. The majority of taxes affect the value of real estate assets. The performance of each tax in government revenues varies from country to country and different tax regimes are imposed. The value and income of real property assets which are being recorded in financial statements are tax bases and thus a relationship exists between tax rates and revenues with property assets’ values and returns. Investigating this relationship, the methodologies used in the survey are: multivariate cluster analysis; statistical radar analysis; single and multiple econometric models using cross-section dummy variables; real estate investment appraisal financial models for calculation of cash flow and cost of capital. For the purposes of the study, an econometric model using historical data is developed, decision trees are produced and an integrated financial model is constructed which associates property asset value with initial cost, future cash flows and exogenous variables including the different types of taxes in order to examine their effects on property assets values. Tax charges on property assets is a fiscal tool used to cover budget deficits. On the other hand, taxation affect the value of real property both through future cash flows and the cost of capital together with tax shields arising from alternative accounting policies, methods or estimations. Finally, a relationship like Laffer’s curve is developed between values of property assets and tax performance on government revenues.Αυτή η μελέτη έχει σχεδιαστεί για να διερευνήσει τις επιπτώσεις της επίδρασης των φόρων στην ακίνητα περιουσία, και τη διαχείριση των θεμάτων που προκύπτουν από την επιβολή τους. Τα λογιστικά πρότυπα και οι μέθοδοι που ακολουθούνται επηρεάζουν την απεικόνιση των περιουσιακών στοιχείων στις οικονομικές καταστάσεις. Η πλειοψηφία των φόρων επηρεάζουν την αξία των ακινήτων. Η απόδοση του κάθε φόρου στα δημόσια έσοδα διαφέρει από χώρα σε χώρα όπου διαφορετικά φορολογικά καθεστώτα επιβάλλονται σε καθεμία από αυτές. Η αξία και το εισόδημα των περιουσιακών στοιχείων ακίνητης περιουσίας καταγράφονται στις οικονομικές καταστάσεις, και είναι οι φορολογικές βάσεις, και έτσι υπάρχει μια σχέση μεταξύ φορολογικών συντελεστών και των εσόδων με τις αξίες και τις αποδόσεις των περιουσιακών στοιχείων. Για τη διερεύνηση της σχέσης αυτής οι μεθοδολογίες που χρησιμοποιούνται στην έρευνα είναι η πολυμεταβλητή ανάλυση διασποράς, η ανάλυση ραντάρ, πολυμεταβλητά οικονομετρικά μοντέλα με τη χρήση ψευδομεταβλητών , οικονομικά μοντέλα εκτίμησης και υπολογισμού ακίνητης περιουσίας για τον υπολογισμό των ταμειακών ροών και το κόστος του κεφαλαίου.Για τους σκοπούς της μελέτης αναπτύσσεται ένα οικονομετρικό μοντέλο που χρησιμοποιεί ιστορικά δεδομένα , και παράγονται δενδρογράμματα λήψης αποφάσεων. Ένα ολοκληρωμένο οικονομικό μοντέλο κατασκευάζεται που συνδέει την αξία της ακίνητης περιουσίας με το αρχικό κόστος, ενώ υπολογίζονται μελλοντικές ταμειακές ροές, και εξωγενείς μεταβλητές, συμπεριλαμβανομένων των διαφόρων τύπων των φόρων, προκειμένου να εξεταστούν οι επιπτώσεις τους στις τιμές των περιουσιακών στοιχείων .Οι φορολογικές επιβαρύνσεις επί των περιουσιακών στοιχείων είναι ένα δημοσιονομικό εργαλείο που χρησιμοποιείται για την κάλυψη των ελλειμμάτων του προϋπολογισμού. Από την άλλη πλευρά, οι φόροι επηρεάζουν την αξία της ακίνητης περιουσίας τόσο μέσω μελλοντικών ταμειακών ροών, όσο και μέσω του κόστους του κεφαλαίου και των φορολογικών ασπίδων που προκύπτουν μέσω των λογιστικών εγγραφών. Τέλος, μεταξύ άλλων που παρουσιάζονται , είναι μια σχέση όπως η καμπύλη Laffer, που έχει αναπτυχθεί μεταξύ των τιμών των περιουσιακών στοιχείων και του φόρου απόδοσης στα δημόσια έσοδα