Predicting Bankruptcy of Shipbuilding Companies on the Basic of Financial Statement Data

Companies in their operation often face problems in meeting their financial obligations and are unable to settle their trade liabilities owed to creditors. As their liabilities exceed their assets, the bankruptcy is initiated. The relevance of bankruptcy prediction is a frequent topic of research by many authors. Shipbuilding in the Republic of Croatia was one of key industry sectors in light of a large number of workers, a high share in exports, and numerous sub-contractors who were directly or indirectly participating in production. Business operations of major Croatian shipbuilding companies have deteriorated in recent years. The objective of this paper is to examine if it is possible to predict company bankruptcy on the basis of data presented in shipbuilding companies’ financial statements by using mathematical methods and bankruptcy prediction models

Liquidity management in small and medium-sized construction enterprises during crisis - the case of Croatia

Purpose: The aim of this study is to investigate the effects of liquidity management on the profitability of small and medium-sized Croatian enterprises during the economic crisis of 2008 and the crisis caused by COVID-19 and provide empirical evidence of the effects of liquidity management on profitability. Methodology: The collected data were analyzed using the methods of descriptive statistics, chain and base indices as well as Spearman’s correlation coefficient, while the normality of the distribution of the selected sample of small and medium-sized enterprises was examined with the Shapiro-Wilk W test. Results: According to the research results, the economic crisis in the period from 2008 to 2014 had more pronounced negative effects on liquidity management of the observed companies than the economic crisis in the conditions of the COVID-19 pandemic. Conclusion: The research results showed that liquidity management and achieving adequate profitability in times of crisis are very important for small and medium-sized construction companies because their total assets are dominated by short-term assets, while short-term liabilities are their dominant source of funding so better education in the field of finance is recommended in order to understand the use of their own and others sources of funding

THE IMPACT OF FINANCIAL OPERATIONS OF UTILITY COMPANIES ON THE FINANCIAL POSITION OF THE CITY

In this paper, the main topic will be the financing of utility companies and the financial impact on the budget of the local business units. A special emphasis will be placed on the financing of utility companies in Slavonski Brod. The paper defines each area of utility services and presents the utilities as services of public interest as well their privatization in general. The paper reports on the financing of these services and on the European Union regulations and directives concerning them. In addition, the paper includes an overview of the sources of funding of utility companies and loan opportunities. Guarantees and subsidies are included as financing measures of the activities of communal companies. The practical part presents an interview with key individuals of the city of Slavonski Brod with regard to the impact of the budget on the financing of utility services of the utility company in this city – “Komunalac Ltd.”

Kovalentno vezivanje glikoinozitolfosfolipida (GPI) za hemoglobin pod dejstvom insulina praćeno je aktiviranjem proteaze iz membrane eritrocita

Recently, it was demonstrated that prolonged hyperinsulinism associated with hypoglycemia, both in vivo and in vitro, caused covalent glycoinositolphospholipid (GPI) binding to the C termini of both hemoglobin beta-chains, which resulted in the formation of a novel, hitherto unrecognized, minor hemoglobin fraction (GPI-Hb) (Niketic et al. Biochem. Biophys. Res. Commun. 239 (1997)435). In this study, it was demonstrated that exposure of erythrocyte membranes to insulin causes the activation of membrane protease as well as that the formation of GPI-Hb parallels its activity. It is suggested that the insulin-activated protease is able to catalyze. albeit slowly, the transpeptidation, i.e., the replacement of the carboxy-terminal amino acid(s) residues of the Hb beta-chains with GPI as an exogenous nucleophile. To our knowledge the present results show for the first time that insulin stimulates protease activity in erythrocyte membranes, as well as that insulin-activated protease may be involved in post-translational GPI binding to proteins.U našim ranijim radovima pokazano je da u uslovima hiperinsulinizma i hipoglikemije, in vivo i in vitro, dolazi do kovalentnog vezivanja glikoinozitolfosfolipida (GPI) za karboksilne krajeve oba β-niza molekula hemoglobina (Hb), što se manifestuje nastajanjem nove, do tada nepoznate, manje frakcije hemoglobina (GPI-Hb) (Niketić et al., Biochem. Biophys. Res. Commun. 239 (1997) 435). U ovom radu je pokazano da vezivanje insulina za membrane eritrocita izaziva aktiviranje membranske proteaze, te da je nastajanje GPI-Hb u korelaciji sa proteaznom aktivnošću. Pretpostavljeno je da proteaza aktivirana insulinom može, mada sporo, da katalizuje reakciju transpeptidacije, tj. zamenu aminokiselinskih ostataka sa karboksilnog kraja β-nizova molekula Hb sa GPI-lipidom kao egzogenim nukleofilom. Prema našem saznanju opisani rezultati prvi puta pokazuju da insulin stimuliše proteaznu aktivnost u eritrocitima, te da je ova aktivnost povezana sa post-translacionim vezivanjem GPI-lipida za proteine

The impact of Covid-19 on liquidity management in small and medium-sized trade businesses: The Croatian case

Purpose: The aim of this paper is to examine empirically the relationship between liquidity management and profitability of Croatian small and medium enterprises in trade and to provide empirical evidence of the effects of liquidity management on the level of profitability during the COVID-19 crisis. Methodology: The analysis began with descriptive statistics, where the authors observed the following variables: ROA, current liquidity, accelerated liquidity, immediate liquidity and employment. The collected data analyzed descriptive statistics and compared the Wilcoxon signed-rank test. The authors made six regression models and performed regression diagnostics for all models. The problem of heteroscedasticity examined the Breusch-Pagan test, the normality of relation errors examined the Jarque-Bera test, while multi-collinearity examined the variance inflation factor (VIF). Results: All six models confirmed a statistically significant and positive impact of liquidity on the level of profitability in both years, which means that the increase in liquidity will result in an increase in the level of profitability of the observed companies. Control variables of company size and trade category did not prove statistically significant. Conclusion: Scientific contribution is the development of a model for the analysis of the impact of liquidity on the profitability for small and medium enterprises in trade. The model is also applicable to similar transition and post-transition economies, especially to those in the region that have similar economic development as it will help economic policy makers and corporate managers understand the importance of the impact of liquidity on profitability levels

THE IMPACT OF FINANCIAL OPERATIONS OF UTILITY COMPANIES ON THE FINANCIAL POSITION OF THE CITY

In this paper, the main topic will be the financing of utility companies and the financial impact on the budget of the local business units. A special emphasis will be placed on the financing of utility companies in Slavonski Brod. The paper defines each area of utility services and presents the utilities as services of public interest as well their privatization in general. The paper reports on the financing of these services and on the European Union regulations and directives concerning them. In addition, the paper includes an overview of the sources of funding of utility companies and loan opportunities. Guarantees and subsidies are included as financing measures of the activities of communal companies. The practical part presents an interview with key individuals of the city of Slavonski Brod with regard to the impact of the budget on the financing of utility services of the utility company in this city – “Komunalac Ltd.”

RAČUNOVODSTVENI ASPEKT AUTORSKIH I SRODNIH PRAVA

U radu je detaljno obrađen Zakon o autorskim i srodnim pravima, njegova primjena u praksi sa primjerima knjiženja, predočeno na primjeru poslovanja izdavačke kuće Dancing bear d.o.o. Zagreb. Zakon o autorskom pravu i srodnim pravima kao temeljni pravni institut koji štiti intelektualno vlasništvo u Republici Hrvatskoj, njegovo razumijevanje i ispravna primjena u praksi, osnova su adekvatne zaštite svih sudionika, korisnika, autora djela i nositelja imovinskih koristi. Predmet proučavanja ovoga rada je analiza zaštite autora glazbenih djela u pravnom smislu, dohodaka autora i prihoda vlasnika autorskih imovinskih prava koji po toj osnovi nastaju u poreznom smislu, te kroz primjere obračuna dohotka od autorskih djela glazbenika i obračuna prihoda korisnika autorskih imovinskih prava pokazati tijek poslovnih promjena, njihov bilančni položaj i utjecaj na financijski rezultat poslovanja trgovačkog društva. Zadatak ovog rada je sistematizirati sve relevantne činjenice, rezultate i posljedice primjene Zakona, te na jednom mjestu detaljno prikazati tijek poslovnih promjena na primjeru izdavačke kuće kao nositelja isključivog prava korištenja autorskog djela glazbenika

Uloga turističkih zajednica u procesu stvaranja preduvjeta za konstituiranje regionalne turističke organizacije u Slavoniji

Iako hrvatska turistička praksa još uvijek ne poznaje formalni model regionalizacije, u svijetu postoje različiti modeli umrežavanja turističkih organizacija, pri čemu polaznu točku za povezivanje čini postojanje cjelovitoga turističkog proizvoda na razini turističkog odredišta. Polazište u radu predstavlja umrežavanje turističkih zajednica turistički nerazvijenog kontinentalnog dijela Hrvatske, posebno onih koje djeluju u Slavoniji kao najnerazvijenijoj turističkoj regiji, kao preduvjet za efikasno marketinško upravljanje turističkim odredištima na ovim područjima. Cilj istraživanja je provjeriti podržavaju li turističke zajednice regije da ova regija na turističkim tržištima može postati prepoznatljivija samo ukoliko se njezinim turističkim razvojem bude upravljalo jedinstveno, s regionalne razine, na kojoj će se formirati Turistička organizacija Slavonije. Primarno istraživanje provedeno je u rujnu i listopadu 2013. godine metodom ispitivanja putem anketnog upitnika među direktorima turističkih zajednica unutar regije Slavonije. Dobiveni rezultati primarnog istraživanja mogu se sažeti u tome da većina turističkih zajednica u regiji podržava jedinstveno upravljanje regijom kao turističkim odredištem, kao i izradu jedinstvenog marketing programa na razini regije. Na temelju dobivenih rezultata moguće je potaknuti osnivanje regionalne turističke organizacije u Slavoniji

Cholesterol bound to hemoglobin in normal human erythrocytes

Our results demonstrate that in contrast to Ch and PL contents of RBC membrane which are confined to a narrow range, the lipid levels estimated in intact RBCs showed more variation: the lowest individual values for RBC lipids corresponded to those found in membrane, whereas in RBCs with higher lipid contents the “excess” was found in hemolysates13th Balcan Biochemical Biophysical Days & Meeting on metabolic disorders, Programme and Abstracts, 12-15 October 2003, Kusadasi, Turkey [https://turkbiyokimyadernegi.org.tr/turkbiyokimyadernegi/tbd-dergi-arsiv