ACCOUNTING AND FINANCIAL REPORTS IN PUBLIC SECTOR MANAGEMENT

Raspravlja se o javnom menadžmentu i njegovoj ulozi u upravljanju državom, karakteristikama upravljanja u javnom sektoru, kao i o novom javnom menadžmentu i njegovu utjecaju na javni sektor, napose na proračunsko računovodstvo. Ističe se važnost državnog računovodstva kao elementa dobrog upravljanja. Državno se računovodstvo konceptualizira kao državni računovodstveni informacijski sustav. Analiziraju se njegove funkcije, područje izgradnje i primjene, kao i financijski izvještaji u javnom sektoru. Značenje računovodstva u javnom upravljanju vidi se u pogledu upravljanja imovinom, upravljanja obvezama, upravljanja troškovima te upravljačkom nadzoru i reviziji.The paper discusses public management and its role in the state management, followed by management characteristics in the public sector, and the new public management and its influence on the public sector, particularly on budgetary accounting. The importance of state accounting is stressed as an element of good governance. State accounting is conceptualised as a state accounting information system. The author analyses its functions, construction and implementation area, and financial reports in the public sector. The importance of accounting in public management is visible in cases related to property management, liability management, management of expenses, as well as supervisory management and audit

Multiple criteria decision analysis of public investment options: application to streetlighting renewal projects

The last global economic crisis set fiscal consolidation as one of the most relevant goals of economic policy. At the same time, efforts are necessary to increase economic growth rates, particularly by increasing quantity and quality of public investment. However, the lack of fiscal space and other impediments make these goals hard to attain. On the contrary, in many countries data show negative dynamics of quantity and quality of public investment. In terms of energy efficiency investment, trends are positive. However, the pace of investment significantly underperforms the goals set. We argue that one of the major reasons is the lack of financial innovation and project selection methodology. For this reason, projects have still been mainly financed under traditional procurement models. Surprisingly, most countries do not exploit the advantages of alternative models of financing which do not affect public debt level, significantly reduce fiscal deficits and reduce fiscal risks. This article argues that a multi-criteria approach used at the initial stages of project preparation increases the potential for project realisation and the overall quantity and quality. In order to provide empirical evidence, we use information on energy efficiency streetlighting projects and present a case of a traditional versus alternative financing models. HIGHLIGHTS a need for a systematic approach when selecting optimal financing model is a must; a lack of financial innovation is one of the most critical impediments to a higher level of investment in revenue-generating projects common for the energy efficiency sector; alternative models of financing enable public investment increase without harming the fiscal position; a new methodology for selecting the most preferable model is presented; a policy mix should take more comprehensive stance towards complexity of public investment projects

Parent-offspring conflict in preferences for long-term mates

Cilj istraživanja bio je istražiti evolucijski inherentan konflikt roditelja i potomstva, specifično u kontekstu odabira poželjnih reproduktivnih partnera za potomke. Na temelju evolucijske istraživačke paradigme postavljene su hipoteze o različitom vrednovanju signala genetske kvalitete i signala kooperativnosti od strane roditelja i djece, o vezi relevantnosti pojedine osobine i stupnja konflikta te o spolnim razlikama u izraženosti konflikta. Konačno, kroz konstrukt kolektivizma/individualizma i osobnu važnost vjere, ponuđen je moguć odgovor na uzrok evidentiranih međukulturalnih razlika u izraženosti konflikta. Istraživanje je provedeno putem interneta, na uzorku od 970 sudionika, a metodološki i tematski odgovora istraživanju Buunka, Parka i Dubbsa iz 2008, tj. predstavlja njegovu replikaciju na uzorku iz RH. Rezultati su potvrdili izraženiju usmjerenost potomaka na signale genetske kvalitete, nasuprot usmjerenosti na signale kooperativnosti koji su važniji njihovim roditeljima te očekivano izraženiji konflikt roditelja s kćerima u odnosu na sinove, no za izostanak konflikta kod nekih relevantnih karakteristika, iako očekivan, se pokazalo da je metodološki artefakt. Konačno, usporedba rezultata mjere konflikta s rezultatima dobivenim na inozemnim uzorcima,upućuje na nužnost uvažavanja utjecaja (za ljudsku vrstu specifičnog) socijalnog konteksta na reproduktivno ponašanje. U tom kontekstu značajnim se pokazao i utjecaj važnosti vjere.The aim of the research was to explore the evolutionary inherent parent-offspring conflict, specifically in the context of selecting desirable mating partners for the offspring. On the basis of the evolutionary research paradigm, hypotheses have been set about relative differences in subjective preferences for signals of genetic quality and signals of high parental investment and cooperation, between parents and offspring. Also, the research included the assessment of relevance for individual traits, various degrees and gender differences in conflict expression, as well as other relevant variables. Ultimately, through the construct of collectivism/individualism and personal importance of faith, a partial answer was offered as to the cause of recorded inter-cultural differences. The research was conducted via the Internet, on a sample of 970 respondents, and it corresponds with the Buunk, Park and Dubbs' 2008 research both methodologically and thematically, i.e. it is its replication carried out on a sample from the Republic of Croatia. The results confirmed a more prominent orientation of offspring to genetic quality signals, as opposed to their parents' focus on cooperative signals, which they deem more important. The research corroborated the expected stronger conflict between parents and their daughters in relation to male offspring. The absence of the expected conflict with some relevant characteristics has shown to be a methodological artifact. Finally, the comparison of results with foreign samples, as well as the recorded positive correlations between the conflict degree on the one hand, and collectivism on the other hand point to the necessity of appreciating the impact of a specific, social context of reproductive behaviour on the human species. In this context, the influence of importance of faith has also been shown as significant

USKLAĐENOST FINANCIJSKIH IZVJEŠTAJA PRORAČUNA I PRORAČUNSKIH KORISNIKA U REPUBLICI HRVATSKOJ S MEĐUNARODNIM RAČUNOVODSTVENIM STANDARDIMA ZA JAVNI SEKTOR

Istraživanje se bavi usporedbom strukture i sadržaja financijskih izvještaja koji se sastavljaju sukladno nacionalnom zakonodavstvu i propisanom računovodstvenom i izvještajnom okviru u odnosu na strukturu i sadržaj financijskih izvještaja prema Međunarodnim računovodstvenim standardima za javni sektor (u daljem tekstu MRSJS). U razmatranje su uzeti standardi koji se izravno tiču financijskog izvještavanja, nekonsolidiranog, a to su: MRSJS 1 Prezentiranje financijskih izvještaja i MRSJS 2 Izvještaji o novčanom toku. Cilj i svrha istraživanja je utvrditi razinu usklađenosti propisanog računovodstvenog i izvještajnog okvira s MRSJS. Relevantnost istraživanja proizlazi iz činjenice da je Republika Hrvatska s članstvom u Europskoj uniji preuzela, između ostalog, i obvezu harmonizacije državnog računovodstva , financijskog izvještavanja državnih jedinica i državne statistike sa zahtjevima Europske unije. Utvrđivanje i analiza razlika između izvještavanja na nacionalnoj razini i međunarodnoj te Europskoj razini preduvjet je za poduzimanje aktivnosti u cilju smanjivanja razlika u kontekstu što uspješnije harmonizacije izvještavanja koje postaje obveza s članstvom u Europskoj uniji. S druge strane, relevantnosti istraživanja pridonosi i činjenica da je unapređenje proračunskog računovodstva i financijskog izvještavanja u funkciji stvaranja kvalitetnog temelja za razvoj internog računovodstva kao informacijske osnovice za donošenje odluka i učinkovitost novog javnog menadžmenta. Istraživanje je kvalitativne naravi i temelji se na proučavanju relevantnih izvora (zakonskog okvira, MRSJS) i istraživanju značaja objava prema jednom i drugom izvoru te kvantitativne naravi u istraživanju sličnosti i razlika pri čemu je upotrijebljena formula koja u odnos stavlja broj elemenata definiran kroz nacionalnu regulativu u odnosu na broj elemenata definiran kroz MRSJS. Dodatno se, kroz ovo istraživanje uočava koje su objave financijskih izvještaja prema MRSJS zahtjevne za primjenu na nacionalnoj razini i iz kojih razloga

Financial Position and Sustainability of Associations in Croatia

This paper emphasizes the economic importance of the civil society sector in the national socio-economic context. There is a systematic neglect of the economic and financial components of civil society organizations and non-profit sector in Croatia even though a significant volume of civil society organizations’ activities is funded from public sources and there is a high possibility of exploitation of their relatively privileged tax position. The purpose of this paper is to present research results of the funding sources, the financial potential and the elements of economic performance of citizens’ associations in the Republic of Croatia. The survey sample includes over 20,000 citizens’ associations which have submitted financial reports to the Registry of Non-profit Organizations in accordance with the statutory obligation. The research is based on aggregated data reported in the Balance Sheet and Performance Report for 2015 and 2016. The scientific contribution of the paper is reflected in the assessment of the financial performance and financial transparency of the activities of civil society organizations in the Republic of Croatia and their sustainability in comparison with Serbia and Slovenia. &nbsp

Implementation of cost accounting as the economic pillar of management accounting systems in public hospitals– the case of Slovenia and Croatia

Healthcare sector expenditures persistently rise due to various public health, demographic, and socio-cultural reasons. This fact caused repeated calls for reforms of the economic model in the healthcare sector due to increased concern for efficiency. The aim of this paper is the comparison of the Slovenian and Croatian healthcare systems, focusing mainly on the current development stage and the future challenges of the management (cost) accounting systems. The research is mainly interested in the analysis of capabilities of cost tracking according to different criteria and identification of the main constraints in the implementation of a full costing method in Slovenian and Croatian hospitals. The methodology of the literature review and electronic survey was used to assess the practice in both countries. Analysing the data collected from the responses of 26 (100%) Slovenian and 52 (91.22%) Croatian hospital accountants and financial officers, it is possible to claim that Slovenian and Croatian management accounting systems are at a very early development stage. Nevertheless, the analysis reveals several similarities, as well as differences, between the two systems, and it can be concluded that Slovenia has succeeded in making greater progress, especially when observing systematical cost monitoring and implementation of national cost analysis

Use of internal reports at Croatian higher education institutions

This paper explores the use of internal reports at higher education institutions (hereinafter HEIs) in Croatia. It also highlights the importance of internal reports for the decision – making process. In that context, the survey research based on two questionnaires was conducted in the year 2014. The questionnaires were sent to all higher education institutions in Croatia, more precisely to the Deans and to the Heads of Accounting. The authors have set three hypotheses. Statistical analysis of conducted empirical research shows that internal reports are insufficiently developed at HEIs in Croatia. At the end of the paper, authors provide some recommendations regarding future development and usage of internal reports at HEIs

Determining the Level of Accounting Conservatism through the Fuzzy Logic System

Background: Using a variety of alternative accounting policies brings about different effects on the stated business results and the value of the company. Objectives: The objective of this paper is to develop a fuzzy logic solution for determining bias in financial reports on low-activity financial markets, and to find a method applicable to unquoted entities. Methods/Approach: A fuzzy logic system was developed using data on Croatian companies, the MatLab software, and the Mamdani fuzzy inference method. Results: The paper provides the summary of results obtained using a fuzzy logic system, and they indicate that the model has relevant validity. Conclusions: The model can serve as a stimulus for more detailed studies of biased financial statements elements. The fuzzy logic model should be further tested on a larger sample of companies classified based on their activity and under different business conditions

Accounting System in Croatian Public Healthcare Organizations: an Empirical Analysis (*)

Abstract. In considering the adequacy of adopting accruals an