Investors have become the most important users of financial statements in modern business conditions, and mixed base of financial reporting has been established in order to meet their information needs and it includes elements of the concept of historical cost and the fair value concept, with an increasing shift towards the fair value concept. The primary task of fair value accounting becomes the expression of the fair value of the net assets at the reporting date, while the financial results represent the change in fair value of net assets between the two reporting periods. In our country the application of the "full IFRS" is mandatory for large enterprises and the application of IFRS for SMEs is mandatory for small and medium-sized entities, thus fair value accounting becomes an integral part of the financial statements of domestic companies. However, fair value accounting is not a suitable concept for our country characterized by shallow and underdeveloped financial market, companies whose owners are the company managers at the same time, and low level of economic and technological development. A financial statement audit in terms of the use of the fair value concept becomes much more demanding and complex than the audit of the financial statements based on historical cost accounting.
Poslovanje čiji je jedini cilj sticanje profita bez brige o društvu, okolini i stejkholderima, ne može biti dugoročno održivo. Iz tog razloga sve veći broj kompanija u svoje poslovne strategije inkorporira koncept korporativne društvene odgovornosti. Među njima zapaženo mesto pripada NIS grupi. Tradicionalni sistem finansijskog izveštavanja, koji se pretežno zasniva na kvantitativnim informacijama, nije u mogućnosti da na adekvatan način odgovori na informacione zahteve stejkholdera kada su u pitanju informacije o društveno odgovornom i održivom poslovanju kompanija. Rastuća svest o potrebi očuvanja životne sredine i rešavanju socijalnih pitanja stvara pritisak na kompanije da povećaju svoju odgovornost prema okruženju i unaprede kvalitet izveštavanja o održivom razvoju. Svrha ovog rada je da istraži vezu između izveštavanja o zaštiti životne sredine i održivog razvoja.Ključne reči: korporativna društvena odgovornost, nefinansijsko izveštavanje, ekološke i socijalne performanse, održivi razvoj.
This study examines the effect of financial performances on earnings quality using a sample of Serbian hotels during the period 2015-2019. First, the authors build a multidimensional measure of earnings quality including attributes as the hotel’s going concerned, size, current liquidity, age, profitability, and leverage. Second, the authors examine variables that are potentially associated with earnings quality. The methodology includes descriptive statistics, univariate test, correlation matrix for the variables, multivariate regression, F-test. This paper presents managerial implications for professionals, users of financial statements, and academics.
Сажетак:У раду су истражене перформансе пословања сектора за пружање ревизорских услуга у Републици Србији у периоду [2009][2010][2011]. година са аспекта прегледа општих карактеристика по питању броја, величине ревизорских фирми и кретање запослености, као и са аспекта анализе приносног положаја која обухвата анализу пословног прихода, финансијског резултата и рентабилности. У наведеном периоду приметан је пораст броја предузећа за ревизију и пораст броја запослених у сектору за пружање ревизорских услуга. Просечан пословни приход, финансијски резултат и просечне стопе приноса бележе тенденцију пада у периоду 2009-2011. године. И поред тога, сектор за пружање ревизорских услуга је рентабилан, обзиром да се остварује позитиван просечан финансијски резултат, а тиме и позитиван принос на улагања. Кључне речи: ревизорска фирма, сектора за пружање ревизорских услуга, перформансе.Abstract: This paper presents the performances of the sector for the providing of audit services in the Republic of Serbia in the period 2009-2011. from the point of views of general characteristics in terms of number, size of audit firms and employment trends, as well as in terms of the analysis of operating revenues, financial results and profitability. During this period there has been an increase in the number of audit firms and increase the number of employees in the sector for the provision of audit services. Furthermore, in this period the value of average operating revenues, financial result and average rate of returns recorded a decreasing trend. Nevertheless, the sector for the providing of audit services is profitable, given that the average financial result is positive, and thus a positive return on investment.
The flexibility in accounting standards and principles, lead to incentives for managers to show a good picture of the companies. It is logical and rational for managers to attempt to smooth income by using certain accounting devices to reduce the companies’ income fluctuation over time to improve relations with creditors, investors, and employees. Income smoothing enables companies to stabilize earnings and thereby increase earnings predictability. For detecting income smoothing through examining the financial statements Eckel’s (1981) approach (income variability approach) has been the most popular and most used one. In this research study, we use a selection criterion between smoothers and non-smoothers hotel companies based on the income smoothing. This study aims to classify Serbian hotel companies during the period 2016-2019 as smoothing and non-smoothing hotel companies. The method used to determine the presence or absence of income smoothing and the company value results is based on the coefficient of variation model proposed by Eckel (1981). According to the coefficient of variation method, the more the income smoothing (IS) index tends to zero, the more smoothed out the company’s earnings are. This study examines the presence of artificial income smoothing in 22 Serbian hotel companies. A binomial test is used to test the hypothesis. As a result of research, there are no significant statistical indicators of income smoothing practices in Serbian hotel companies during the period 2016-2019.
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