UTJECAJ GLOBALIZACIJE NA TRANZICIJU RAČUNOVODSTVA U HRVATSKOJ

Svršetak devedesetih godina odgovarajući je trenutak za procjenu rezultata tranzicijskih procesa u hrvatskome gospodarstvu. Radikalne su se izmjene dogodile i u računovodstvenom sustavu u Hrvatskoj, jer su tranzicijske promjene postavile nove informacijske zahtjeve, pa se stoga njegov razvojni put ne može ocijeniti kao reforma s blažim pomacima, već kao proces restrukturiranja. Bio je to pravi izazov za hrvatske računovodstvene teoretičare i praktičare, osobito zbog utjecaja složenog globalizacijskog okruženja. Potreba za jedinstvenim “jezikom poslovanja” nikada nije bila tako izražena kao danas, a zbog globalizacije postaje sve intenzivnijom

Gibson paradox revisited – liquidity chain effect

Gibson paradox remains a puzzle in the discipline of economics. Previous studies attempted to resolve the paradox looking separately at the gold standard, changing monetary regimes, inflation expectations, risk and uncertainty. Our study shows Gibson paradox holds for the Netherlands 1800-2012 with real long interest rates and prices diverging after 2008. This paper offers empirical evidence (nonlinear cointegration) on the integrity of the Gibson paradox. Single factor cannot explain the paradox itself (because of its nonlinear nature) as previous studies attempted. Empirical link between long interest rates and prices is caused by complex interaction between purchasing power, liquidity, gold prices, market turnover, stocks accumulation, productivity, short-term interest rates. This approach analysis the purchasing power and price relation, resulting in firms’ turnover and liquidity shifts, leading to short-term borrowings changes and pressures on interest rates in the short as well as in long-term. Actually, the model enables us to track the series of price change effects finally resulting in interest rates shifts, via a set of microeconomic and financial laws, which taken at the aggregate level could offer the Gibson paradox explanation. Further studies must explore nonlinear nature of the paradox in order to explain it. Study results have important implications for policy makers and firm governance policy

BEHAVIOURAL PERSPECTIVE OF MANAGEMENT ACCOUNTING IN CROATIA

Autorica istražuje postojanje čimbenika koji utječu na nastanak razlika iz skupine elemenata biheiviorističkog pristupa koijma se nastoji objasniti funkcioniranje upravljačkog računovodstva u praksi, odnosno ukazati kakvo bi ono moralo biti, uzimajući u obzir dane čimbenike. Na uzorku od stotinu četrdeset hrvatskih poduzetnika dokazala je postojanje utjecajnih čimbenika koji omogućuju razumijevanje različitosti u razvojnoj razini pojedinih sustava upravljačkog računovodstva.Despite of the lower development level of management accounting in Croatia comparing to financial accounting, there are differences in its development level among indi-vidual enterprises. The paper investigates the existence of factors of influence on these differences appearance, from the behavioural perspective group of factors, which tries to explain the functioning of management accounting in practice, and to show how should it look like considering these factors. Based on the sample of hundred and forty Croatian enterprises, it is proved that influential factors exist what enables the understanding of differences in development level of individual management accounting svstems. Resulted relations are often opposite to expected influence direction considering the role and tasks of management accounting in contemporary business

ČIMBENICI USKLAĐIVANJA MEĐUNARODNIH RAČUNOVODSTVENIH STANDARDA: DVA EMPIRIJSKA ISTRAŽIVANJA

The paper presents the results of two different studies focused on the problem of corporate compliance with International Accounting Standards, searching for the factors influencing the International Accounting Standards Implementation. The problem of IASs implementation is the most important topic of the contemporary theory of international accounting due to globalization processes and pressures for achieving the accounting harmonization. There are many differences among institutional and other environmental factors presenting the barrier to reaching the harmonization goals, but there are also different enterprise\u27s own internal factors influencing the extent of compliance with a given set of international standards. This paper has identified some of the factors as the result of two separately performed researches that could be of some help to understanding of significant differences in IASs implementation among the enterprises, as well as over the countries.U radu su prezentirani rezultati dvaju istraživanja usmjerenih na problem prihvaćanja Međunarodnih računovodstvenih standarda te čimbenika koji utječu na njihovu implementaciju. To je jedno od najznačajnijih područja suvremene teorije međunarodnog računovodstva zahvaljujući globalizacijskim procesima i pritiscima u pravcu postizanja računovodstvene harmoniziranosti diljem svijeta. Mnoge su različitosti u institucionalnim i drugim elementima okruženja koje predstavljaju prepreku dostizanju harmonizacijskih ciljeva, ali također postoje i interni čimbenici pri poslovnim subjektima koji utječu na usklađenost sa međunarodnim standardima. Ovaj rad ukazuje na neke od njih, koji proizlaze iz dvaju odvojenih, neovisnih istraživanja, u namjeri da pridonesu razumijevanju značajnih razlika u implementaciji Međunarodnih računovodstvenih standarda među poslovnim subjektima, kao i među zemljama

A STANDARD FRAMEWORK OF SOCIAL ACCOUNTING – THE POSSIBILITIES OF INTEGRATION INTO TRADITIONAL ACCOUNTING SYSTEM OF HIGHER EDUCATION INSTITUTIONS

U radu se obrađuju teorijski pristupi društveno odgovornom računovodstvu kroz pregled njihovog razvojnog tijeka, obilježja i ograničenja. Informacije tradicionalnog računovodstvenog sustava nedostatne su za obuhvat društvenih koristi i društvenih troškova proizašlih iz djelovanja poslovnih subjekata u privatnom i javnom sektoru. Njihovim obuhvatom, procjenom, priznavanjem i prezentiranjem dobivaju se vrijedne informacije koje su od značajne koristi u efikasnoj alokaciji i upravljanju resursima te podizanju razine blagostanja u društvenoj zajednici, stoga je u ovom radu predložen okvir sustava društveno odgovornog računovodstva te mogućnosti njegove integracije u tradicionalani sustav računovodstva i izvještavanja. Predložene su njegove mogućnosti implementacije u računovodstveni sustav institucija visokog obrazovanja kao proračunskih korisnika, čime su ujedno prezentirane mogućnosti uvođenja i integracije sustava društveno odgovornog računovodstva s tradicionalnim proračunskim računovodstvom.The paper provides an overview of theoretical approaches to social accounting, discussing its developments, features and limitations. The traditional accounting information is not sufficient to cover social benefits and social costs made by private or public entities. Their measurement, recognition and disclosure provide valuable information significant for efficient allocation and management of resources, contributing in such a way to the social wealth growth. That is why this paper provides the social accounting framework exploring the possibilities of its integration into the traditional accounting and reporting system. These possibilities are discussed through the high education institutions’ accounting system, thus suggesting how the social accounting system could become integrated in the governmental accounting system which is applied by those institutions

PRIMJENA RAČUNOVODSTVENIH STANDARDA U MALIM I SREDNJIM DRUŠTVIMA ITALIJE I HRVATSKE: IZAZOVI MEĐUNARODNE HARMONIZACIJE

U radu se analizira proces računovodstvene harmonizacije u malim i srednjim društvima (SME) temeljem empirijskog istraživanja primjene računovodstvenih standarda pri talijanskim i hrvatskim SME-ima. Cilj je istražiti primjenjivost MRS/MSFI pri SME, s aspekta pripreme i uporabe financijskih izvještaja u kontekstu ekonomski i institucionalno diferentnih okruženja. Razmatraju se problemi financijskog izvještavanja SME-a, razrađuju aktivnosti međunarodnih tijela na harmonizaciji računovodstva SME-a (IASB, UNCTAD-ISAR) te iznose rezultati istraživanja primjene računovodstvenih standarda u talijanskim i hrvatskim SME-ima, koji upućuju na nemogućnost primjene cjelovitog seta MSFI pri SME-ima, te na činjenicu kako harmonizacija njihovog financijskog izvještavanja pretpostavlja harmoniziranost institucionalnih, ekonomskih, kulturoloških i drugih čimbenika okruženj

ACCOUNTING HARMONIZATION FOR SME-S IN EUROPE: SOME REMARKS ON IFRS FOR SME-S AND EMPIRICAL EVIDENCES

The debate on accounting truth is an old problem (Briloff, 1979) and it is at present more and more important in harmonization process, especially involving small- and medium-sized enterprises (SMEs). Their users’ needs regarding the extents and type of accounting information as well as the costs of their providing are widely discussed as the arguments for differential reporting for SMEs, although there is still more literature focusing on financial reporting of large enterprises. The standards setters try to decrease the reporting burden for SMEs, keeping the relevant information for their reports users, while considering harmonization goals in the same time. In such an attempt, the International Accounting Standards Board (IASB) issued an International Financial Reporting Standard (IFRS) designed for use by small and medium-sized entities (SMEs) the 9th of July 2009, however some national European standard-setters seem not to be keen to introduce them. The aim of our paper is to analyse, the attempts and difficulties to reach all these goals in the same time and to implement the IFRS for SMEs, such as drawn by the IASB, in the European countries. Croatian experiences presented, running from International Accounting Standards (IAS) implementation as obligatory for all the companies, towards Croatian Financial Reporting Standards (CFRS) introduction for SMEs, represent an interesting experiment in the European context

THE QUALITY OF NOTES RELATING SME REVENUES AND EXPENDITURES DISCLOSURES: EMPIRICAL STUDY OF CROATIAN FINANCIAL REPORTING STANDARS (CFRS) IMPLEMENTATION

This paper explores the quality of Croatian SMEs financial reporting notes relating disclosures upon revenues and expenditures, examining in such a way the level of CFRS implementation in this selected field of reporting. The goal is to determine the level of CFRS implementation in the selected field of reporting, over the SMEs group to notice any difference in their application between small and medium entities in order to assess their applicability for smaller entities. The notes contents and quality were found significantly correlated with SME size, raising the questions upon the CFRS requirements applicability by small, particularly the smallest micro-entities

ACCOUNTING HARMONIZATION FOR SME-S IN EUROPE: SOME REMARKS ON IFRS FOR SME-S AND EMPIRICAL EVIDENCES

The debate on accounting truth is an old problem (Briloff, 1979) and it is at present more and more important in harmonization process, especially involving small- and medium-sized enterprises (SMEs). Their users’ needs regarding the extents and type of accounting information as well as the costs of their providing are widely discussed as the arguments for differential reporting for SMEs, although there is still more literature focusing on financial reporting of large enterprises. The standards setters try to decrease the reporting burden for SMEs, keeping the relevant information for their reports users, while considering harmonization goals in the same time. In such an attempt, the International Accounting Standards Board (IASB) issued an International Financial Reporting Standard (IFRS) designed for use by small and medium-sized entities (SMEs) the 9th of July 2009, however some national European standard-setters seem not to be keen to introduce them. The aim of our paper is to analyse, the attempts and difficulties to reach all these goals in the same time and to implement the IFRS for SMEs, such as drawn by the IASB, in the European countries. Croatian experiences presented, running from International Accounting Standards (IAS) implementation as obligatory for all the companies, towards Croatian Financial Reporting Standards (CFRS) introduction for SMEs, represent an interesting experiment in the European context