THE DRIVERS OF PRODUCTIVITY

This paper will try to demonstrate that productivity is the basis of all productive systems, which are viewed as transformers of utility and value, since the search for maximum productive efficiency is necessary to reduce production costs and thus produce value. After presenting a coherent frame of reference, we shall examine the drivers of productivity and then move on to discuss the consequences of the continual growth in productivity and the non-economic aspects linked to the gradual improvement in productivit

One or Two Statement Approach for the Income Statement of Czech Companies?

Purpose of the article: The article examines the IAS 1 revised that allows the company to choose between a reclassification of items by nature or by function (destination), it also provides two alternative presentations of the income statement: a single statement of comprehensive income or two statements, the first containing the components of net income, and the second that, starting from net income, shows the other components of expanded income. Methodology/methods: First we outline the principal theories of the statement of comprehensive income, secondly we concentrate the research to obtain the empirical data. The research is developed in the following steps: selection of the companies surveyed; selection of the documents to be analysed; election of the empirical aspects to be studied. Scientific aim: The aim of the research is to define which format has been adopted by companies listed on the Czech Republic Stock Exchange for the new Income Statement to be prepared according to the International Accounting Standards – IAS 1 revised in 2007. In particular, we examine the Consolidated Financial Statements 2010 published online. Findings: This article illustrates the two choices that have the companies to present items of net income, items of other comprehensive income and total comprehensive income: they can create one continuous statement of comprehensive income or two separate consecutive statements. Conclusions: The results show that the Czech financial statements have not a firms’ propensity to separate the section of the income statement in two statements rather than to integrate it into a single one, while the reclassification of the income statements privileges the reclassification by nature

Sustainable Management and Total Quality Management in Public Organizations with Outsourcing

The aim of this paper is to explore how Total Quality Management (TQM) can act as a foundation and key catalyst for developing Sustainable Management and Corporate Social Responsibility (CSR) within Public Organizations. In the public sector we have too often experienced low quality services, which have generated and perpetuated low expectations. The result has been great dissatisfaction and frustration, but not much action (Gaster, 1995). As any other organization, the Public Organization can apply TQM and thereby accomplish some improvements.CSR is an emerging topic within organizational research and praxis. It has parallels to sustainable development, environmental protection, social equity and economic growth.This paper shows specifically how to incorporate sustainability into a quality system by using a model that shows the relation between investment in quality and the variables fame and reputation. The interest in the nature of the relationship between TQM and CSR is long-standing. The aim of the quality movement is to enable organizations to deliver high quality services in the shortest possible time to market, at minimum cost, and in a manner that emphasises human dignity, work satisfaction, and mutual and long-term loyalty between the organization and its stakeholders. As such, TQM has a strong ethical dimension, advocating the importance of considering the interests of stakeholders (Oppenheim & Przasnyski, 1999). In this paper outsourcing in Public Organizations is considered as an instrument for raising the qualitative level of services and thus for developing CSR. First, the definitions of CSR are discussed. Second, the ethics in quality are described, followed by a discussion on existing quality models with regard to CSR. Third, the relationship between TQM and CSR is considered. We have analyzed the strong similarity between TQM and CSR, and outsourcing analysis is used to illustrate the combined CSR/TQM approach in Public Organizations. Finally, we have highlighted the main factors of resistance to externalization in Public Administrations and how these can be overcome by developing a risk management approach.

THE ROLE OF THE SUSTAINABILITY REPORT IN CAPITALISTIC FIRM

The aim and the central topic of this research is the understanding of the importance of Sustainable growth strategy approach as a driver to achieving top-line growth and bottom-line results. The main contributions of this line of research are to demonstrate the idea that the sustainability report is an instrument for social interaction and social cost/benefit analysis and to show that such an instrument can describe, comment on and sum up the firm's own behaviour aimed at sustainable growth. The work integrates the CSR management literature with a large body of research in accounting and finance. This study draws from theoretical research about the nature of the corporation, its role in society and contributions by recent research on corporate social, environmental, ethical responsibility and accountability. Our research demonstrates that the economic existence of the capitalistic firm as a producer of economic and financial values must be appreciated, in terms of the sustainability of the development path of the firm, and evaluated by a wide range of social performance measures of outcome or benefit. It also shows how the Sustainability report emphasizes the link between firm and territory, and affirms the concept of the firm as an entity that, by pursuing its own prevailing interests, contributes to improving the quality of life of the members of the society in which it operates. This paper contributes primarily to the academic debate by reviewing past attempts to theorise CSR and stakeholder dialogue, identifying gaps and weaknesses, and proposing the Sustainable Growth implementation processes for the creation of value. It also highlights the relationship between CSR activity and corporate image and performance. The research shed light on aspects of CSR activity for which little is known and much less is being understood; namely, the channels and the mechanisms through which the CSR impact is perceived and realized for creation of value. Carlotta Meo Colombo (3) considers the capitalistic firm as Business Value-Creating Organizations and Patrizia Gazzola (1-2;4-6) considers the Sustainable Growth implementation processes for the creation of value.Sustainable Growth, Creation of Value, Sustainability Report, Performance, Stakeholders

Is total comprehensive income or net income better for the evaluation of companies\u2019 financial performance?

The aim of the paper is to compare the utility of the net income and the total comprehensive income for the evaluation of goodness in connection with companies\u2019 investments. For the research, we use the data of the consolidated financial statements for 2010, 2011 and 2012 published online by companies listed on the Prime Market of the Czech Republic Stock Exchange. In the last part of the work, we show the results of empirical research on the income statement of the Czech companies, which have adopted IAS/IFRS principles. The results show that the Czech companies\u2019 financial statements have no propensity to separate the income statement section into two statements rather than integrating it into a single one, while the reclassification of the income statements privileges the reclassification by nature. The results show that the total comprehensive income possesses informa- tive content and gives further information for the evaluation of financial performance

Is total comprehensive income or net income better for the evaluation of companies’ financial performance?

The aim of the paper is to compare the utility of the net income and the total comprehensive income for the evaluation of goodness in connection with companies’ investments. For the research, we use the data of the consolidated financial statements for 2010, 2011 and 2012 published online by companies listed on the Prime Market of the Czech Republic Stock Exchange. In the last part of the work, we show the results of empirical research on the income statement of the Czech companies, which have adopted IAS/IFRS principles. The results show that the Czech companies’ financial statements have no propensity to separate the income statement section into two statements rather than integrating it into a single one, while the reclassification of the income statements privileges the reclassification by nature. The results show that the total comprehensive income possesses informa- tive content and gives further information for the evaluation of financial performance

Is total comprehensive income or net income better for the evaluation of companies’ financial performance?

The aim of the paper is to compare the utility of the net income and the total comprehensive income for the evaluation of goodness in connection with companies’ investments. For the research, we use the data of the consolidated financial statements for 2010, 2011 and 2012 published online by companies listed on the Prime Market of the Czech Republic Stock Exchange. In the last part of the work, we show the results of empirical research on the income statement of the Czech companies, which have adopted IAS/IFRS principles. The results show that the Czech companies’ financial statements have no propensity to separate the income statement section into two statements rather than integrating it into a single one, while the reclassification of the income statements privileges the reclassification by nature. The results show that the total comprehensive income possesses informa- tive content and gives further information for the evaluation of financial performance

Impairment Test in the Football Team Financial Reports

Abstract The aim of the paper is to analyze the valuation and the application of the impairment test of intangible assets of Italian football teams. The purpose is to understand how and what kind of information each club discloses on their financial reports the values of player registrations. The study considers the evolution of the reports from the ruling of UEFA Financial Fair Play Regulations ( UEFA, 2009 ) in the years 2010–2015. The study demonstrates that only some clubs have reached the beak-even goal and that only some teams give impairment test information in the statement and in the attached notes