EUROPEAN JOURNAL OF ACCOUNTING, FINANCE & BUSINESS

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ISSN: 2344 - 102X

ISSN-L: 2344 - 102X



 

Content of Issue 23, Year 2020

1. THE IMPACT OF FINANCIAL POLICY TOOLS IN REDUCING THE DEFICIT OF THE GENERAL BUDGET
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Author(s): Latfe Alhusseinawi
Topic: General Accounting
Abstract: In the context of the economic crisis caused by the global oil prices drop and the ISIS terrorist attacks, the Iraqi government adopted a financial and fiscal policy between 2015 and 2018 aiming to reduce the federal public deficit. The present paper analyses the role and importance of this policy. The Iraqi state budget relied mostly on the income from crude oil sales. Thus, the oil price drop had significantly impacted the income, as well as public expenditures. Moreover, the military spending increased due to the need to counterattack the ISIS offensive, causing imbalances augmented by the policies and procedures imposed by the International Monetary Fund (IMF). Our goal is to identify methods of increasing the general state revenues, while complying with the financial rules imposed by the IMF. It is also important to identify the commitment level of the government to enforce the IMF policies and procedures imposed in order to reduce the state budget deficit. The federal laws adopted by the Iraqi government for the years 2015, 2016, 2017 and 2018 were taken under certain conditions, which differ from those adopted in developed countries. The paper shows that the external debt of the Iraqi government is not present in the balance sheet issued and also not recorded by the Treasury. Instead, the amount is based on statistically public debt and on the Federal Financial Bureau statement number 10505 from 22/5/2017. The recommendations highlighted through the present study were reached after analyzing the Iraqi government's statements. Mainly, our proposal is further preparation of economic studies in order to ensure that the revenues and expenditures estimation is close to reality. Another recommendation is to continuously document the results of past implementations, highlighting the current situation versus future expected developments. It is also important to publish the external debt and to record it in the Treasury accounting records.
Keywords: Financial Policy, Public Budget, Public Revenues, International Monetary Fund

2. OBJECTION PROCEEDINGS UNDER THE POLISH ACT OF ENTREPRENEURS LAW
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Author(s): Anna Holda - Wydrzynska
Topic: General Accounting
Abstract: The Polish Act of 6.03.2018 on Entrepreneurs' Law sets forth the general principles for undertaking, conducting and terminating economic activities within the territory of the Republic of Poland. An inherent part of the act are provisions concerning the control of businesses, which are regulated by Chapter 5 of this Act (art. 45-65 EntLaw). The regulations apply the rules of control, commonly called control standards, which should be respected by public administration authorities and controlled entrepreneurs. Controlling business activity concern also controlling entities' rights. The entrepreneurs have been provided with a special legal remedy, the so-called "objection to undertaking and carrying out actions by all inspection bodies" (the opposition to control activities). Such a measure was already available to the entrepreneurs under the Act of 2.07.2004 on Freedom of Business Activity. The Act of the Entrepreneurs' Law has clarified the previous solutions. Therefore, the purpose of the article is to present the terms and conditions of raising that legal measure in the light of the new provisions binding from 30.04.2018.
Keywords: Opposition To Control Activities, Objection Proceedings, Control Bodies, Entities' Right, The Control Of Businesses, Polish Entrepreneurs' Law

3. THE ROLE OF QUALITY IN ACHIEVING PERFORMANCE AT THE SCHOOL LEVEL
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Author(s): Daniela Vitan
Topic: General Accounting
Abstract: The performance of pre-university educational institutions is reflected by the results that are achieved. These results largely depend on the quality of the educational process which should aim at creating favorable conditions for the progress of each student by providing educational programs that meet the needs of stakeholders (students, parents, teachers, employers, society, etc.). The quality of pre-university education takes into account the degree of effectiveness of the educational offer, the human, material and financial resources which are involved, the effects disseminated in the society. This paper presents quality as a defining element of school performance, factors and generating effects, ways to improve performance through a proper management of the educational system and process, but also through its adequate regulation at the national level and permanent adaptation of requirements of competencies in relation to the dynamics of the labor market, of the information technologies, of the evolution of the professions, etc.
Keywords: Performance, Progress, Quality, Pre - University Education, Quality Principles, Quality Descriptors, Results

4. ACCOUNTING PRACTICES REGARDING THE MEANS OF OPERATION WITH CASH FLOWS
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Author(s): Ancuta-anisia Chelba
Topic: General Accounting
Abstract: In modern market economies, economic agents have a variety of methods to make payments. Thus, as a rule, they choose the payment instrument they consider appropriate for their needs, from the perspective of the speed of execution of these instruments, the transaction costs, the local characteristics as well as the legal framework that regulates the payment obligations. Another particularly important criterion to consider is that the chosen payment instrument must also be an efficient means of operating and managing the cash flow. In this context, the main objective of this article consists in presentation the letter of credit and the cash advance as effective methods of payment, but also as secure means of operating the cash flow. The secondary objectives of this paper are represented by pointing out the accounting practices related to the operations regarding the settlement and justification of the payment instruments mentioned above.
Keywords: Cash Flow, Payment System, Letter Of Credit, Cash Advance, Stakeholders, Accounting Practices

5. MEDIATION IN CHINA. GENERAL CHARACTERISTICS
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Author(s): Rafal Blicharz
Topic: Economics
Abstract: The article is devoted to the issue of mediation in economic matters in China. Contains contemporary statistical data on mediation in China, and also presents the development of mediation throughout China's long history, highlighting those elements that have influenced the specifics of the Chinese model of mediation proceedings. It takes into account the types of mediation and the rules that govern them. Separately, mediation proceedings before the court and people's mediation proceedings were presented. Both models have many common elements and determine the specificity of the Chinese way of out-of-court dispute resolution.
Keywords: Mediation In China, Mediation Principles, Mediation Proceedings, Types Of Mediation In China

6. EFFECTS OF IFRS ADOPTION ON EARNING VARIABILITY OF SELECTED DEPOSIT MONEY BANKS IN NIGERIA: A CO-INTEGRATION ANALYSIS APPROACH
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Author(s): Ifeoma Patricia Osamor, Matthew Adeolu Abata, Chinyere Clareth Elluh
Topic: Finance
Abstract: The quality of financial reports made available to users of financial statements affects their behavior towards investment and economic activities, thereby affects the economy of the nation. The study therefore examined IFRS adoption and earnings variability of listed deposit money banks in Nigeria. The study adopted ex-post factor research design using secondary data which were sourced from the annual reports of ten banks from 2006 to 2018. Data spanned Seven (7) years before IFRS adoption (2006 - 2012) and seven years after IFRS adoption (2012 - 2018). Descriptive statistics, unit root test, co-integration test and regression were employed to analyze the data. The Fully Modified OLS (FMOLS) results showed R2 of 0.672652, while Dynamic OLS (DOLS) estimates R2 of 0.740295 which implied that 67% and 74% variations in Earnings were explained by the variation in Size, Profit, IFRS and the interacting variable respectively. FMOLS and DOLS estimations revealed that IFRS post-adoption has significant effect on earning variability. The study concludes that IFRS adoption significantly impacted on the quality of financial report. Therefore, the study recommended that banking firms should explore the benefits and provisions of IFRS to improve on their financial reporting practices.
Keywords: IFRS Adoption, Financial Reporting, Earnings Variability, Size, Deposit Money Banks

7. CONSIDERATIONS REGARDING THE JAPANESE ACCOUNTING SYSTEM
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Author(s): Anatol Melega
Topic: General Accounting
Abstract: The economic evolution of a nation is closely correlated with the customs, accounting and fiscal regulations, characteristics, nuances, values, practices, customs that have developed since the emergence of the state. Without a preliminary analysis of these determinants, the task of understanding the Japanese accounting system or the Japanese economic system in general would be difficult to accomplish. In this paper we aim to analyze the Japanese accounting system together with all its particularities.
Keywords: Accounting Profession; IFRS; Globalization; Harmonization

8. BANKRUPTCY RISK - CONCEPTS AND APPROACHES IN THE ECONOMIC LITERATURE
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Author(s): Ancuta-anisia Chelba
Topic: General Accounting
Abstract: -
Keywords: -

 
     
     
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