Despite the fact that obligations to publish reports on corporate social responsibility will come into force in the European Union from 2018, an increasing number of companies are starting to implement corporate social responsibility (CSR) policy into their everyday business practices, and as a result the information of this activity is disclosed in CSR reports or within annual reports. As the disclosure of such information is currently voluntarily based, we believe that the growing popularity of CSR leads to a direct link between the sustainability of the company and its nancial performance. The purpose of this paper is therefore to determine the linkage between CSR and nancial performance within two countries in the CEE region -Czech and Estonia -using data from 2012 -2013. We compare return on assets and normalized market value added of listed companies. Based on the results, we can state that the implementation of a standalone CSR report does not have any direct linkage with the nancial performance of the tested companies.
Abstract-At the end of the accounting period all statutory audited business entities have to prepare and submit to the business register the annual report -the on-time submission of the financial statements is of a high importance for all stakeholders to be able to make proper economical decisions. This paper represents the examination of how the implementation of the e-submissions of financial statements has influenced the on-time submission by the selected companies. In order to determine whether e-system influenced positively the on-time submission of annual reports authors have selected the annual reports submitted to the Czech and Estonian Business Register by the most successful TOP100 Czech and Estonian companies for the period 2007-2011. The results revealed that the number of the on time submitted annual reports has increased significantly after the implementation of the new Estonian e-reporting system, however Czech companies still are not very willing to submit their financial statements on time.
Major events and changes in the economic world during last decades have generated a growing public interest towards accounting in general and accountants in particular, which goes in line with the increasing role of professions in the society. The aim of the research is to reveal students' opinion on the functions and role of accountants in modern enterprise and to figure out what personal characteristics, knowledge and skills should be an inevitable attribute of the modern accounting profession. Findings confirmed that in Estonia accountant is regarded as a person preparing various tasks for the management in order to assist them in the decision-making process and sometimes giving valuable advice before the decision is made. It can be stated that results clearly outline the demand of high education programmes with accounting specialization in Estonia with the curriculum corresponding to the rapid changes in the modern world. This paper also highlights the importance of various knowledge, skills and personal characteristics as an essential combination for successful everyday work in the field of accounting. The findings also have practical implications for HEI developments targeting renewal, changes and amendments in the business and economics curriculum.
Recent developments and changes in the modern economy as well as falls and rises of large corporations have brought up the public interest towards the accounting discipline, and have resulted in a growing demand for accountant specialists as educated professionals. The aim of the present research is to find out what is the role of the accountant in the modern enterprise. The authors conducted a survey among Estonian accounting specialists and managers. The results of the survey clearly indicate that in most Estonian companies, accountants are actively assisting members of the board to make vital decisions, and their competence, knowledge and skills are highly valued by managers. The findings of the survey emphasize that Estonian accountants are highly qualified, keeping in line with the latest developments in the modern financial world.
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