The purpose of this paper is to determine the indebtedness level of hotels operating in the Republic of Serbia during the period from 2008-2012. It is presumed that the weakened worldwide economy resulted in the decrease of general business solvency and increase of bankruptcy probability in all industries. Service providers have certainly not been left out, and hotels have been in the focus of this paper. We have collected available financial statements of hotels operating in the Republic of Serbia for the period from 2008-2012. We have calculated several bankruptcy prediction models including: Altman's Z' and Z''-score, M-score, Kralicek's df score and Z-score for hospitality industry. The results show that the average implicated bankruptcy probability increased in 2010 and 2011, and reached its peak value in 2011. When comparing 2008 and 2011, the average Altman's scores recorded decrease of approximately 70% and other scores confirm the same results. Therefore, it can be concluded that hotel industry in Serbia recorded the weakest results and has been insolvent and had the greatest risk of going bankrupt in 2010, and especially in 2011.

The awareness of association between auditor switching and the audit opinion is essential when legislation regarding mandatory audit practice is being done. To test the significance of the association, we collect data on audit opinion reports of a random sample that comprises 800 industrial entities from Republic of Serbia. Using Fisher's Exact Test, we conclude that companies that have received unqualified opinion in one period, and subsequently changed their auditor firm, were significantly less likely to receive unqualified opinion in the following period, when compared to companies that have not changed auditor.

The purpose of this paper is to give some insight into the level of capital adequacy and the efficiency of its use in companies in the Republic of Serbia. As no similar research has yet been conducted in this manner, we believe that certain benchmark in this field is necessary when analysing company's financial performance. In order to do so, financial statements for 53,996 companies have been examined and the main financial indicators have been calculated. Results indicate that total negative equity of sound companies is double in comparison to those in bankruptcy. General market conditions resulted in significant decrease of Return on Equity (ROE) and total revenue in the last four years (2008-2011). In the same period of time, private companies with small number of owners such as limited liability companies, general partnerships, and limited partnerships overperformed in comparison to other legal forms. In addition, indebted companies create much higher negative results than the sound ones create positive ones.

The 21st century classroom is, with the necessary infrastructure, an environment much more developed than the traditional classroom. Since the purpose of a language is communication between people, both written and oral, the Internet has become an extraordinary resource for teaching and learning a foreign language. The Information and Communication Technologies (ICT) make it possible to accelerate the teaching and learning process, as they help students learn from a distance. In other words, they are an effective, fast and cheap way to acquire a new language, which is why it is gaining more or more attention. Nevertheless, traditional classroom still exists and functions with very effective results. The research conducted for the purpose of this paper shows how students perceive and evaluate both traditional and ICT supported learning of a foreign language in higher education environment, with the aim of discovering which of the two approaches students find more suitable for learning a foreign language.

No abstract

Друштвени медији представљају неизоставни део модерног друштва и веома значајан облик социјалне интеракције. Друштвене мреже, као важан део дигиталних медија, одликује једноставно учешће корисника и бројност садржаја које они генеришу. Због значаја друштвених мрежа у промоцији услуга, посебно у туризму, предмет анализе у овом раду су могућности промоције српских манастира на Facebook-u као једној од најзаступљенијих глобалних друштвених мрежа. Анализирали смо Facebook странице десет манастира и утврдили да постоје значајне разлике у ажурности, структури садржаја који се постављају и активности самих корисника, односно пратилаца посматраних Facebook страница.

Sve je veći broj broj muzeja i kulturnih atrakcija koje koriste digitalne tehnologije kao platformu za pružanje informacija o lokalitetima i kulturnoj baštini. Prvi kontakt savremenog posetioca sa kulturnom baštinom je upravo preko interneta. Aplikacije kao što su sistemi mobilnih vodiča, planeri za putovanje, internet portali i 3D aplikacije podržavaju iskustvo potrošača prlikom posete. Pored toga, mobilne i 3D aplikacije omogućavaju da korisnici lakše razumeju složene kulturne fenomene kroz učenje koje ima zabavni karakter. U radu se istražuje povezanost procesa digitalizacije kulturnog nasleđa i očuvanja autentičnosti. Autentičnost digitalnog nasleđa odnosi se na pouzdanost zapisa i kvalitet sadržaja koji bi trebalo da ga predstavlja. Digitalne tehnologije mogu uticati na kvalitet prenosa informacija i iz tog razloga pristupilo se kvalitativnom istraživanju putem intervjua sa stručnjacima u vezi autentičnosti objekata kulture s obzirom na sprovedenu digitalizaciju. Rezultati istraživanja su pokazali da se autentičnost kulturnog nasleđa u procesu digitalizacije smatra izuzetno važnom s tačke gledišta kustosa muzeja koji su učestvovali u istraživanju.

Corporate Social Responsibility (CSR) reporting has been subject of various discussions of academicians and accounting practitioners. Although the importance of CRS reporting is not under question, the quality of disclosed non-financial information is still under review. In the light of the new Serbian Law on Accounting (Official Gazette of the Republic of Serbia 73/2019) and EU Directive 2014/95 requirements regarding non-financial information, this article investigates the state of non-financial reporting development in Serbian companies in the pre-EU Directive period in order to give suggestions to policymakers how to establish and structure the implementation of the EU Directive and expected challenges on this path. The current state of development of non-financial activities is measured by using content analysis and by creating a non-financial reporting index, namely the CSR index for the Serbian companies listed at Belgrade Stock Exchange. CSR index has been corelated with accounting variables (size of the company, auditor type (non/Big 4), revenue and financial results) in order to get deeper understanding of its value drivers.  Serbian companies, listed as large, audited by Big 4 and with better financial performance variables, are companies with the higher value of the CSR index and have a higher quality of non -financial reporting. Big companies can serve as a benchmark for the rest of the companies in the economy, but also those companies will have fewer challenges in the EU non-financial Directive implementation in the post-Directive period. Therefore, Serbian policymakers should focus their attention and implementation procedures on the rest of the economy struggling with the non-financial reporting.