Evaluation of Salaries and Their Factors in Lithuania
Buhalterinės apskaitos teorija ir praktika
Salaries and wages are widely analysed in legal, economic and social dimensions. Remuneration ref... more Salaries and wages are widely analysed in legal, economic and social dimensions. Remuneration reflect many aspects, therefore, they play a significant role for the individual, for whom it is often the main source of livelihood, for the company, for which the compensation of the employee's work is both business expenses and elements of business execution, and for the state, which directly influences wages through its regulatory mechanisms and for which the amount of salary is an important indicator of society's standard of living. The purpose of the study is to evaluate the salaries forms and systems applied in Lithuanian companies and the factors affecting them. To achieve the goal, the methods of scientific literature analysis, information grouping, systematization, and generalization were applied. A questionnaire survey was conducted in Lithuania in order to assess the forms and systems of salaries and the factors affecting them. The results of the study show that internal...
Analysis of travel agencies and travel operators' activity
Tourism sector is one of the most perspective activities of global economy that plays an importan... more Tourism sector is one of the most perspective activities of global economy that plays an important role in international integration process. This sector influences various activities as it creates a demand for different types of goods and services. Travel agencies and travel operators have an important position in tourism sector: the number of these companies aggregates 11 percent of the whole number of tourism companies. The article deals with the main indicators of travel agencies and travel operators which include a number of incoming foreigners, a number of enterprises, a number of residents' visits abroad,a number of guest-nights of residents abroad. The research of the indicators has revealed a decreased level of incoming foreigners number (24 percent), a number of residents' visits abroad (almost 31 percent), a number of guest-nights of residents abroad (34 percent) in 2009 year in comparison to 2008 year. Though the number of enterprises was bigger in the beginning ...
The Impact of IFRS Changes on Companies’ Financial Indicators
Buhalterinės apskaitos teorija ir praktika, Dec 22, 2021
<jats:p>The ever-changing economic environment changes the business conditions and performa... more <jats:p>The ever-changing economic environment changes the business conditions and performance and requires to reflect the changes on accounting information of legal entities. The development of International Financial Reporting Standards (IFRS) is a dynamic and complex process, which helps to provide fair and true information on legal entities. Although, it's important to evaluate the changes of accounting standards by preparers of financial statements and the users of the information. The purpose of the research is to determine the impact of significant changes of international financial reporting standards on the financial indicators of the companies during 2017-2020 period. Research methods of comparative analysis of scientific literature and legal acts, content analysis, case analysis, grouping of information, systematization, comparative analysis and generalization were used. Main research results state that in 2017-2020 the key changes were related to three standards: IFRS 9 - Financial Instruments, IFRS 15 - Revenue from Contracts with Customers and IFRS 16 - Leases. The study of the impact of the application of the new standards on the financial indicators of 24 Lithuanian listed companies revealed that the new IFRS 16 had the greatest impact on the financial indicators of the companies. The first time, the application of IFRS 16 had a significant impact on 6 of the 24 companies analysed. There was a negative impact on liquidity and solvency ratios, working capital, return on assets and the turnover of assets.</jats:p>
Rapid changes in the economic environment, the development of new technologies, and global crises... more Rapid changes in the economic environment, the development of new technologies, and global crises have an impact on and produce new requirements for many professions, including accounting specialists. An analysis of the competencies necessary for the modern accounting specialist provides insights into the required abilities from a labour market perspective. This article investigates the necessary knowledge and competencies of modern accounting specialists using a survey. Responses are analysed according to the respondents’ country, work experience, current working position and the size of the enterprise. We evaluate the personal, professional and social competencies as well as necessary types of professional knowledge. Research results may be summarised based on the traditional viewpoint of an accounting specialist. Despite their differing attributes, and with only some slight differences, respondents emphasised the need for accounting specialists to have certain classic knowledge a...
Controlling combines accounting, planning, control, analysis and other fields of organization'... more Controlling combines accounting, planning, control, analysis and other fields of organization's activities into one unit. Based on the obtained information, managers complexly solve problems of enterprise and seek for their goals. This system is widespread in Western countries; however, it is seldom applied in Lithuania. The meaning of this system is being analysed in the article and the presumptions of installing the controlling system are sought to be evaluated. Since every enterprise formulates both long-term and short-term goals, controlling is also divided into two sub-systems: strategic and operational controlling. When appropriate instruments and rates are chosen during the interaction of these two sub-systems, the management problems that result in the growth of organization's value are being solved. A controlling system could only be installed when optimal conditions are formed. Two factor subjects determine the formation of these conditions: the size of the enterpr...
Integrating a behavioral aspect when developing the structure of a controlling system oriented towards increasing a company’s value
Zeszyty Teoretyczne Rachunkowości, 2019
Integrating a behavioral aspect when developing the structure of a controlling system oriented to... more Integrating a behavioral aspect when developing the structure of a controlling system oriented towards increasing a company’s value
The evolution of Lithuanian accounting has a long history and is rather complicated. It was influ... more The evolution of Lithuanian accounting has a long history and is rather complicated. It was influenced by different countries, especially by Tsarist Russia, Germany, France, Poland and the Soviet Union. Different factors had an impact and formed the Lithuanian accounting system, and they have defined development tendencies for it. The aim of this research is to investigate Lithuanian accounting development phases and tendencies. The research methods consist of analysing scientific papers of Lithuanian authors, a retrospective analysis, the historical approach, inductive and deductive methods, systematisation, comparison and a summary of the information. From the chronological and historical perspectives, the following Lithuanian accounting development phases were distinguished: (1) accounting origin for the period of the Grand Duchy of Lithuania (1251–1795); (2) Lithuania’s accounting status during the period of occupation by Tsarist Russia (1795–1914) and World War I (1914–1918); (...
Investigation of Problematic Areas in Application of the Provisions of Business Accounting Standards and Law on Corporate Income Tax
Presentation and coordination of financial and tax accounting information is quite complicated as... more Presentation and coordination of financial and tax accounting information is quite complicated as in many cases these types of accounting have to comply with different requirements and purposes. Business accounting standards regulate financial accounting and the biggest part of tax accounting is regulated by Law on corporate income tax. Consequently provisions of the mentioned above legislation form their application problems. The aim of the article is to systematically analyse provisions of business accounting standards (BAS) and Law on corporate income tax (LCIT) and to indentify main problematical spheres of their application. Methods of scientific literature analysis, information systematization, comparison and summarization were applied in order to achieve the purpose of the article. Analysis of 56 corporate tax reviews were carried out for assessment of practical application of BAS and LCIT provisions. Problematical shperes of application of BAS and LCIT provisions were distin...
Complex profitability analysis of fixed tangible assets
Bulletin of Taras Shevchenko National University of Kyiv. Economics, 2012
Analysis is the main tool for evaluation of an enterprise state and for decision making process a... more Analysis is the main tool for evaluation of an enterprise state and for decision making process according to the results of analysis. The article presents analysis of the level of fixed assets profitability; evaluation of factors, which influence the profit-ability of fixed tangible assets; analysis of relationship between profitability and other ratios. Authors of the article propose com-plex profitability analysis of fixed tangible assets approach, which would enable managers to use more effectively fixed tangible assets and make more efficient business decisions.
Financial Accounting for Forests in Lithuanian State Forest Enterprises: Current Aspects and Prospects
The article analyses current aspects of accounting for standing forests in Lithuania. Forests lan... more The article analyses current aspects of accounting for standing forests in Lithuania. Forests land covers 32,6 percent of Lithuanian territory, around half of all forests land is owned by State. State owned forests land and standing forests is managed by forty two State forest enterprises. According to the current forests legislation, forests land and standing forests are not included in the balance sheet of State forest enterprises, and for this reason the value of financial assets in the State Consolidates Financial Statements do not present real value of the investments to State forest enterprises. Lithuanian Ministry of Economy states that value of Sate owned forests was 3,1 billion litas in 2011, but this is not reflected in financial statements of State forest enterprises, what means that these financial statements do not disclose true and fair view. That is the problem, which is analysed and some proposals of solving it presented by authors in this article. The article invest...
The Peculiarities of Vat Taxation for Travel Operators and Their Recording in Financial Accounting System
Constantly changing business environment, including economic fluctuations, endless flow of inform... more Constantly changing business environment, including economic fluctuations, endless flow of information, legislation, regulations, financial and tax accounting changes and other factors, result in difficulties of adaptation to these changes. Key users of this type of information in the company are usually accountants as they are responsible for presenting financial data in a special form. Therefore, accountants directly face the difficulties of adaption to the changes of information flows; one of the proposed solutions for this problem is information systemisation. Travel operators are affected by the special VAT scheme and the need for information on local, outbound and inbound tourism; therefore, making a suitable accounting information system would facilitate the accounting information for the proper evaluation and use. The most apparent accounting features for travel operators are income and expense, thus there is a need to structure them taking into account local, inbound and ou...
Entrepreneurship and Sustainability Issues, Sep 30, 2018
Accounting forms a significant part of information on any enterprise and plays the most important... more Accounting forms a significant part of information on any enterprise and plays the most important role in different levels of enterprise' management as well as in country's. Accounting information is used by various information users, whose decisions may influence various spheres: from performance of enterprises to proceeding the state policy. Its role increased recently under conditions of modern global and competitive market economy, and will be increasing in the future. Importance of accounting information usage highlights the need of appropriate formation of such information. And accounting regulation plays the main role in the process of formation and presentation of accounting information as it determines requirements for accounting methodology, information performed in the single set of financial statements or consolidated financial statements. The purpose of the research is to evaluate evolution of accounting regulation for the period 1990-2017 and distinguish accounting regulation evolution phases and factors, which influenced development of the phases. Six countries, which are members of the European Unionthe Republic of Croatia, the Czech Republic, the Republic of
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