current liability

We argue for the creation of a carbon liabilities market to address climate change. Each period, countries would be made liable for their share of responsibility in current climate damage. Because liabilities could be traded like …nancial debt, robustness to strategic manipulations and e¢ciency ensue. Moreover, this decentralizes the choice of the rate by which countries discount future bene…ts and damage. Rather than being based on an expected discounted sum of future marginal damage (as with a carbon tax or tradable emission permits) our proposal relies only on observed realized damage and on the well-documented emission history of countries.

The main purpose of this study is to investigate the impact of short term assets and short term liabilities in cement industry of Pakistan for the period of last twelve years 2000-2011. Our intention was about the use of current assets and current liabilities how effecting the profitability of this sector. The data were collected from the financial analysis of the State Bank of Pakistan for non-financial company's analysis. The population of this study was the complete cement industry of the Pakistan. We have used multiple regressions through SPSS for the testing of this study hypothesis. The results show that cash is significant at 5% level of significance. Inventory and debtors are insignificant at 5% level of significance. The results also show that current liabilities and sales are highly significant at 5% level of significance. The current liabilities are negatively affecting the profitability. The variable sales are positively affecting the profitability. The current assets are also significant at 5% level of significance.

This study investigates the effects of working capital management on firm's profitability in Pakistan by using average annual cross sectional data from 2004 to 2009. Four different sectors namely textile, chemical, engineering and sugar and allied are considered. Inventory turnover, average payment period, current ratio, firm size, average collection period and debit ratio are used. Regression results indicate that average collection period has insignificant effects on profitability except in sugar and allied sector. At the same time debit ratio also has insignificant effect on profitability except in engineering sector. Furthermore average payment period has insignificant effect only in sugar and allied sector. Inventory turnover, current ratio and firm size has significant effects on profitability in all sectors. Sensitivity analysis confirms that the results are robust.

This study aims to analyze the effect of Return on Assets (ROA), Debt to Assets Ratio (DAR) and Current Ratio (CR) on the stock prices of real estate companies listed on the Indonesia Stock Exchange (IDX) in 2016-2020. Return on assets (ROA) is measured by profit before interest tax, depreciation and amortization of total assets. The debt-toassets ratio (DAR) is measured by total liabilities divided by total assets, and the current ratio (CR) is measured by total current assets divided by total current liabilities. So far, the stock price is measured by the closing price. The method used is purposeful sampling. The samples used in this study were 31 real estate and real estate companies listed on the Indonesia Stock Exchange (IDX) during 2016-2020. The type of data is secondary data from financial reports and annual reports. The data analysis method used in this study is multiple linear regression analysis. The results of hypothesis testing show that simultaneously return on assets (ROA), debt to assets ratio (DAR) and current ratio (CR) have a significant effect on price.share. Partly, only return on assets (ROA) has a significant effect on stock prices. Meanwhile, the partial Debt to Asset Ratio (DAR) and Current Ratio (CR) have no significant effect on stock prices.

The study assessed the performances of Ghanaian banks in terms of their liquidity, solvency and profitability by applying financial ratios on the published audited financial statements and further predicted the bankruptcy of the selected banks with the application of Altman Z-model for selected banks in Ghana Stock Exchange. Methodology: Data gathered was analyzed using liquidity, leverage and profitability ratios as well as Altman Z-score. Current ratio and quick ratio were used to assess the liquidity of the banks. Additionally, debt to asset ratio and debt to equity ratio were utilized to find out the solvency of the banks. Whereas, return on assets and return on equity were employed to examine the profitability of the banks. Finally, working capital to assets, retained earnings to assets, earnings before tax to assets and market value of equity to liabilities were the ratios employed to determine the Z-scores. Results: Findings revealed that the liquid positions of the banks were below expectations. As far as the solvency positions of the banks were concerned, findings revealed the sector is highly leveraged. Analysis of the profitability position showed that the banks are fairly profitable as their profit averages were above that of the industry. Again, the Altman Z-score model revealed that all the selected banks except one were in corporate distress and far below the standard ratio to be in safe zone and thus, were likely to declare bankrupt.

Few researches on financial distress give different results of predicting a company’ s financial distress. Financial distress is an early warning of bankruptcy, that a company has a financial failure, so that if it is not quickly well handled and getting worse, it goes to bankruptcy. The objective of this research was to give empirical evidence about the effects of net income/equity, total liabilities/total assets, sales growth, cost of goods sold/inventory, sales/account receivable, account receivable/total assets on company’s financial health both partially and simultaneously. Thirty one financial data from 31 manufacturing emitents listing at Jakarta Stock Exchange were analyzed by by multiple regression analysis. The results show that cost of goods sold/ inventory ratio significantly have positive effect on company’s financial health. Net income/equity ratio insignificantly have negative effect on company’s financial health. While total liabilities/total assets, sales growth, sa...

Account receivables have been a major problem for most utility service providers especially those still dealing with the post payment method where services are rendered before payment is made. This study sought to find out if financial performance of Kericho Water & Sanitation Company (KEWASCO) was attributed to management of accounts receivable. The study collected secondary data spanning from 2010 to 2014 from Kenya national audit office and KEWASCO published financial statements to find out average collection period and accounts receivable turnover. The target population included employees of KEWASCO in two regions, Kericho and Bureti working in finance. Data was collected using questionnaires where a census was employed and data analyzed using regression and correlation analysis to find if there is any relationship between financial performance and accounts receivable at 5% significance level. From the findings inventory turnover period and average payment period is averagely 30.14 days and 105.45 days respectively, accounts receivable turnover had a mean of 24.54, average collection period (29.8) size of the region (1.547). The results showed that KEWASCO, financial performance variable Return on Equity (ROE) was significantly affected on Size of the region with positive correlation of 0.688 and Inventory Turnover with negative correlation of 0.245. According to the regression equation established, taking all factors into account; size of the region, Average Payment Period (in Days), Accounts receivable turnover, and Average collection period) financial performance of KEWASCO, measured by ROE was 0.752 (75.2%).This study recommended that the organization should increase average collection period, inventory period, accounts receivable turnover and debt levels in order to improve their financial performance.

Kamu kaynaklarını yönetenlerin Yüksek Denetim Kurumları tarafından denetlenmesi dünyada benimsenen temel görüştür. Yüksek Denetim Kurumları'nın temel işlevi hesap verebilirliğin ve şeffaflığın sağlanarak kamu kaynaklarının kamu yararına etkin ve verimli bir şekilde kullanımını ve gözetimini temin etmektir. Türkiye Cumhuriyeti'nde Sayıştay Başkanlığı 2012 yılından bu yana finansal bilgilerin doğruluğuna ve güvenilirliğine ilişkin mali denetimler gerçekleştirmiş ve denetim görüşleri açıklamıştır. Bu çalışma il belediyelerinde mali tabloların güvenilirliğinin göstergesi olan denetim görüşlerini yıllar itibariyle bir bütün olarak ortaya koymak için hazırlanmıştır. Araştırma 2012-2017 yılları arasında İl Belediyeleri hakkında yayımlanmış Sayıştay Denetim Raporlarını kapsamaktadır. 2012 yılından bu yana il belediyelerinin mali tablolarına verilen denetim görüşlerine bakıldığında; olumlu görüş türünün genel olarak % 50'nin altında kaldığı ve giderek azaldığı çoğunlukla şartlı görüş verildiği söylenebilir. Sayıştay Denetim Raporlarına göre olumlu görüş vermeme sebepleri genel olarak; belediye gelirlerinin takip edilmemesi, belediye taşınmazlarının ihalesiz kullandırılması, borçlanma limitlerine uyulmaması, toplu taşıma ve ambalaj atıklarının toplanması imtiyaz haklarının ihalesiz verilmesi şeklinde sıralanabilir.

Current assets and current liabilities relation is one of the traditional topics of financial management. Through algebra operations, both relations acquired current ratio and net working capital which became a postulate, called the rule of thumbs: current ratio must be greater than 1, and net working capital has to be positive. Based on the findings in two IDX's listed companies, this paper questioning the validity of those rule of thumbs, based on Operation Management, Financial Market evolution and Corporate Governance. This is not an empirical research, this is a theorizing effort which forgotten by scholars in the field of business and management.

This paper presents a simple, intuitive theory of business risk. The results are used to explain empirical observations of Beaver on the power of various financial ratios to predict failure of firms, and to hypothesize improved predictive ratios for use in selecting attractive risk situations and in determining appropriate risk premiums. ACKNOWLEDGEMENTS I would like to thank Zenon Zannetos and Myron Scholes for their comments.

The 2008 financial crisis had a major impact on financial markets, especially on the banking system. Mortgage-backed security investments were among the causes that determined the tremendous shortage of cash. Before the crisis, American banks were considered important investors on these markets, as indicated by the structure of their assets and liabilities. How grounded were their investment decisions? To answer this question, the study examined the influence of financial performance on bank assets and liabilities of the most important 45 banks from Europe and Israel, United States of America, and Canada during the period 2006–2020. Through a panel generalized method of moments approach, empirical results indicated a strong impact of bank assets and liabilities ratios on financial performance indicators. The study emphasizes that bank managers, researchers, regulators, and supervisors should consider investment policies, especially for bank assets and liabilities. Therefore, a high ...

Office for National Statistics Government financial liabilities beyond public sector net debt This article clarifi es the scope of liabilities used to calculate public sector net debt before focussing on the liabilities that are not included. National accounting principles are compared with international accounting standards for governments and businesses. The current public reporting of non-public sector net debt liabilities in the UK is considered, with particular attention being paid to future spending under the private fi nance initiative, unfunded pension schemes, and government guarantees.

Office for National Statistics Government financial liabilities beyond public sector net debt This article clarifi es the scope of liabilities used to calculate public sector net debt before focussing on the liabilities that are not included. National accounting principles are compared with international accounting standards for governments and businesses. The current public reporting of non-public sector net debt liabilities in the UK is considered, with particular attention being paid to future spending under the private fi nance initiative, unfunded pension schemes, and government guarantees.

This study aims to determine the effect of financial performance represented by liquidity ratios, investment and liability ratio, claim expenses, ROA, VOC, and company size on bankruptcy risk. This research was conducted on Islamic insurance companies registered with the Financial Services Authority in the period 2012 to 2018. The statistical model used to test the hypothesis in this study is discriminant analysis at the significance level of 5% (α = 0.05). The results showed that the ratio of investment and liability balances, the ratio of claims expenses, the ratio of return on assets (ROA), volume of capital (VOC) and company size significantly influence the risk of bankruptcy of Islamic insurance companies. However, the dominant financial performance ratios that form the discriminant function in Islamic insurance companies are return on assets, the ratio of claim expenses, and company size.Keywords: Financial Performance, Bankruptcy Risk, Altman Z-Score, Sharia Insurance Company

The purpose of this study is to develop a new model to explain financial distress in Indonesia. There have been many theories, variables, and estimation methods used by previous studies about early warning signs of financial distress. Unfortunately, there are few studies on this subject using a combination of theories, random forests (RF) as the machine learning algorithm, and logit as the statistical method, especially in Indonesia. By using the RF, it is expected the study can get an improved combination of classification and regression tree (CART) and bagging (Breiman, 1996). The samples used are most sectors in Indonesia Stock Exchange (IDX) from 2005 to 2020, excluding the financial sector. The results show that cash to total assets (CTA), retained earnings to total assets (RETA), quick assets to total assets (QATA), earnings before tax to current liabilities (EBTCL), total liability to total assets (TLTA), total sales (TS), book value per share (BVPS), and market to book ratio...

Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published to elicit comments and to further debate.

Working capital management is a crucial element in determining the financial performance of an organization. The purpose of this study was to investigate the relationship between working capital management (given by cash conversion cycle, CCC) and organizational performance (represented by profitability/returns) of manufacturing firms in Eldoret Municipality of Uasin Gishu County, Kenya. A sample of 13 manufacturing firms in the region was used in the study. Historical data on financial performance was collected from the annual financial statements of the sampled firms for a period spanning ten years. More data was also obtained from the managements of these firms through interview schedules and questionnaires. Performance was measured in terms of return on assets and return on equity while cash conversion cycle, current assets to total assets and current liabilities to total assets were used as measures of working capital management. Correlation and regression analysis were used for the analysis. The findings reveal that the working capital management is negatively correlated with return on assets (ROA) and return on equity (ROE) consisting the R values of-0.148 and-0.231 respectively. However, these figures are low, implying that there is no significant relationship between CCC and performance measures used in the study. The regression coefficients of cash conversion cycle (CCC) relating to return on assets (ROA) and return on equity (ROE) were-0.007 and-0.018 respectively. This confirms the negative relationship between working capital management and performance measures. KEY WORDS: Cash Conversion Cycle; Performance; Return on Assets; Return on Equity; Working Capital. 1.0 Introduction/Background Eldoret Municipality is the headquarters of Uasin Gishu County, one of the 47 counties of the republic of Kenya. The county is not only an agricultural region, but also an industrial hub. Uasin Gishu County covers has a surface area of about 3,328 Km 2 and extends between longitude 34° 50′ and 35 ° 37′ east, and between latitude 0° 03′ south and 0° 55′ north. It falls under the altitude of 1,500m to 2,700m above sea level. The county shares common borders with Trans Nzoia County to the north, Elgeyo-Marakwet County to the east, Baringo County to the southeast, Kericho and Nandi Counties to the south, and Kakamega County to the northwest. Eldoret Municipality boosts various types of manufacturing firms. These cut across different sectors ranging from textile industry, milk processing, timber treatment, paper manufacture, steel industry, soft drink manufacturing, to food processing. Over the years, some of the large and well known manufacturing firms within the region such as Raymond Woolen Mills, KCC Milk Processors, Rivatex Cotton Mills, and East Africa Tanning Extract Company have collapsed due to a variety of reasons which includes mismanagement. An example of mismanagement is normally reflected in poor working capital management. Working capital is the lifeline of any organization. Success of every business is revolves around how well it manages its working capital. Working capital management is considered to be a very important element in analyzing the organizations' performance while conducting day to day operations, and by which balance can be maintained between liquidity and profitability. Working capital management is a managerial accounting strategy focusing on maintaining efficient levels of both components of working capital (that is, current assets and current liabilities) in respect to each other. Working capital management ensures that a company has sufficient cash flow in order to meet its short-term debt obligations and operating expenses. Implementing an effective working capital management system is an excellent way for many companies to improve their earnings. The two main aspects of working capital management are ratio analysis and management of individual components of working capital. Some of the key performance ratios of a working capital management system are the liquidity ratio, inventory turnover ratio, and the average collection and payment ratios. Ratio analysis helps the management to identify areas of focus, such as inventory management, cash management, accounts receivable and payables management.

Account receivables have been a majo`r problem for most utility service providers especially those still dealing with the post payment method where services are rendered before payment are made. This study sought to find out effect of the average collection period and financial performance. The study obtained secondary data spanning from 2012 to 2016 from Kenya national audit office and Nzoia Water Services Company published financial statements. The study employed explanatory research design and data was collected from secondary data and analyzed using regression and correlation analysis and found the relationship between financial performance. From the findings the mean average collection period was 309.90 days, accounts receivable turnover had a mean of 1.1980, size of the region (7.5870). The results showed that NZOWASCO, financial performance variable Return on Equity (ROE) was significantly affected with average collection period with negative correlation-0.232. According to t...

Account receivables have been a majo`r problem for most utility service providers especially those still dealing with the post payment method where services are rendered before payment are made. This study sought to find out effect of the average collection period and financial performance. The study obtained secondary data spanning from 2012 to 2016 from Kenya national audit office and Nzoia Water Services Company published financial statements. The study employed explanatory research design and data was collected from secondary data and analyzed using regression and correlation analysis and found the relationship between financial performance. From the findings the mean average collection period was 309.90 days, accounts receivable turnover had a mean of 1.1980, size of the region (7.5870). The results showed that NZOWASCO, financial performance variable Return on Equity (ROE) was significantly affected with average collection period with negative correlation-0.232. According to t...

Working capital is used to finance short term financial obligations of a firm. It becomes all the more important to study working capital in a real estate firm, as major part of their balance sheet constitutes the current assets and liabilities. It is important for these firms to have efficient working capital practices as a portion of funds is parked in inventories and accounts receivables which take a long time to convert into cash. This may lead to a shortage of cash and liquidity in times of need. Data for five big real estate firms' operational pan India was collected for five years from secondary sources and analyzed. Ratio analysis was done to study the working capital practices of these firms and it was found out that there was scope of improvement in the inventory and receivable turnover for all the companies. Pearson correlation coefficient was calculated and analyzed to find if there was a relationship between working capital ratios and profitability ratios. It was found out that for this sector profitability of the company was positively and significantly related to the current ratio and liquid ratios. Also linear regression analysis was done and it confirmed that the profitability of the firms increased with increase in liquid assets.

Working capital is used to finance short term financial obligations of a firm. It becomes all the more important to study working capital in a real estate firm, as major part of their balance sheet constitutes the current assets and liabilities. It is important for these firms to have efficient working capital practices as a portion of funds is parked in inventories and accounts receivables which take a long time to convert into cash. This may lead to a shortage of cash and liquidity in times of need. Data for five big real estate firms’ operational pan India was collected for five years from secondary sources and analyzed. Ratio analysis was done to study the working capital practices of these firms and it was found out that there was scope of improvement in the inventory and receivable turnover for all the companies. Pearson correlation coefficient was calculated and analyzed to find if there was a relationship between working capital ratios and profitability ratios. It was found ...

Governments' contingent liabilities increase fiscal Contingent Government vulnerability, but are omitted Liabilities in traditional measures of the current deficit. In the Czech Republic this omission may Case Studies of the Czech Republic mean that f[scal adjustment and Macedonia has been overstated by 3 to 4 percent of annual GDP, with future budgets having to pay

NUMBER 9 ECONOMIC POLICY Contingent liabilities-a threat to fiscal stability Many governments have faced serious fiscal instability as a result of their contingent liabilities. But conventional fiscal analysis fails to address contingent fiscal risks. What should be done? Contingent government liabilities are asso-policies, the probability of a contingency ciated with major hidden fiscal risks. Thus occurring and the magnitude of the fiscal adjustment that targets deficit and requiredpublic outlayare exogenous (such Any study of a

Large holdings of foreign assets and liabilities, along with increasing relevance of valuation effects-capital gains or losses-have characterized global financial integration. In this paper, we assess empirically the implications of stocks, flows and valuation adjustments in external crises (current-account reversals, sudden stops and currency crises), sovereign credit ratings and the longrun real exchange rates (RER), in both industrial and developing economies. We find support for the view that foreign assets and liabilities are rather distinctive external holdings with different implications in the occurrence of external crisis. Valuation adjustments have an impact on crises, although quantitatively not very large. Portfolio liabilities (particularly equity) increase the probability of current-account reversals and currency crises, while the likelihood of sudden stops increases with the stock of foreign direct investment (FDI) assets. In the case of sovereign credit ratings, we find a noteworthy effect of the stock and flows of FDI liabilities on improving sovereign ratings. Finally, as for the RER, gross assets and liabilities appear equally important, but components of external holdings have considerably different effects. While the cumulative current account is associated with real depreciation, the valuation effect is strongly linked with real currency appreciations in developing economies.

Large holdings of foreign assets and liabilities, along with increasing relevance of valuation effects—capital gains or losses—have characterized global financial integration. In this paper, we assess empirically the implications of stocks, flows and valuation adjustments in external crises (current-account reversals, sudden stops and currency crises), sovereign credit ratings and the longrun real exchange rates (RER), in both industrial and developing

The aim of this study is also to find out the component wise connection between the effective management of working capital and productivity in the context of Pakistan’s cement sector. There are studies proving both, relevancy and irrelevancy of working capital management with profitability, but most of the studies advocate an inverse relationship between liquidity and profitability. Thus, a firm should maintain a delicate balance of working capital so that smooth operation can be achieved without disturbing the profitability. Panel data of 18 companies listed in KSE from cement sector from 2007 to 2011 is collected. Profitability of Companies, being dependent variable, is gauged through Return on assets (ROA). Efficiency of working capital management is calculated through six accounting ratios. Panel Least square method of regression is applied for analysis. Results suggest that assets turnover ratio (ATO), current ratio (CR) and size of the firm (SLS) have positive and significant...

The study assessed the performances of Ghanaian banks in terms of their liquidity, solvency and profitability by applying financial ratios on the published audited financial statements and further predicted the bankruptcy of the selected banks with the application of Altman Z-model for selected banks in Ghana Stock Exchange. Methodology: Data gathered was analyzed using liquidity, leverage and profitability ratios as well as Altman Z-score. Current ratio and quick ratio were used to assess the liquidity of the banks. Additionally, debt to asset ratio and debt to equity ratio were utilized to find out the solvency of the banks. Whereas, return on assets and return on equity were employed to examine the profitability of the banks. Finally, working capital to assets, retained earnings to assets, earnings before tax to assets and market value of equity to liabilities were the ratios employed to determine the Z-scores. Results: Findings revealed that the liquid positions of the banks were below expectations. As far as the solvency positions of the banks were concerned, findings revealed the sector is highly leveraged. Analysis of the profitability position showed that the banks are fairly profitable as their profit averages were above that of the industry. Again, the Altman Z-score model revealed that all the selected banks except one were in corporate distress and far below the standard ratio to be in safe zone and thus, were likely to declare bankrupt.

The study assessed the performances of Ghanaian banks in terms of their liquidity, solvency and profitability by applying financial ratios on the published audited financial statements and further predicted the bankruptcy of the selected banks with the application of Altman Z-model for selected banks in Ghana Stock Exchange. Methodology: Data gathered was analyzed using liquidity, leverage and profitability ratios as well as Altman Z-score. Current ratio and quick ratio were used to assess the liquidity of the banks. Additionally, debt to asset ratio and debt to equity ratio were utilized to find out the solvency of the banks. Whereas, return on assets and return on equity were employed to examine the profitability of the banks. Finally, working capital to assets, retained earnings to assets, earnings before tax to assets and market value of equity to liabilities were the ratios employed to determine the Z-scores. Results: Findings revealed that the liquid positions of the banks were below expectations. As far as the solvency positions of the banks were concerned, findings revealed the sector is highly leveraged. Analysis of the profitability position showed that the banks are fairly profitable as their profit averages were above that of the industry. Again, the Altman Z-score model revealed that all the selected banks except one were in corporate distress and far below the standard ratio to be in safe zone and thus, were likely to declare bankrupt.

Working capital management refers to a company's managerial accounting strategy designed to monitor and utilize the two components of working capital, current assets and current liabilities, to ensure the most financially efficient operation of the company. The goal of working capital management is to manage the firm’s current asset and current liabilities in such a way that satisfactory level of working capital is maintained. A study on comparison in working capital management with State Bank of India and Industrial Credit and Investment Corporation of India is analyzed to know the liquidity and current ratio. The interaction between current asset and current liabilities is therefore is the main theme of the theory of working capital management.

Over the years, it appeared that firms failed to subject short-term investments to proper management thereby leading to either excessive or inadequate working capital which in turn affected their profitability. To empirically satisfy this, this paper examined working capital management and firms' profitability in Nigeria quoted firms on Nigerian Stock Exchange (NSE). A panel data methodology was used with different regression estimators to analyze this relationship based on a balanced panel of 10 listed firms during the period 2008-2017. It was discovered that cash collection period and cash payment period exerted a negative impact on return on assets, though the impact was only significant for cash payment period on the ground of −0.064 (p = 0.000 < 0.05), as against the estimate for cash collection period that stood at −0.032 (p = 0.077 > 0.05). Also discovered was that both the current ratio and inventory period exerted a positive impact on return on assets, though the impact was only significant for current ratio on the ground of 8.172 (p = 0.000 < 0.05), as against the estimate for inventory period that stood at 0.045 (p = 0.438 > 0.05). The study concluded that working capital management affected firms' profitability in Nigeria. Therefore it was recommended that while the shorter collection was maintained, payment to creditors should not be elongated so as to enjoy cash discount (if any) and that firms should be proactive in the management of raw materials in order to avoid idle resources that might negatively impact their financial performance.

Assessing the asset utilization is complicated and not easy job to perform and it measures how effectively a company uses the resources to generate sales and have profitability. The success of company is largely relying on the ability to handle and control their assets and there are several factors which affect the firm performance, as this study used intangible assets and liabilities to explore their effect on organizational profitability in the context of manufacturing companies in Pakistan. Firm performance was measured by ROA and Profit Margin. Data of 20 manufacturing companies listed at PSX for 5 years (2012 to 2016) was analyzed using Panel (Estimated) Generalized Least Squares regression for Heteroscedasticity. We also run unit root and Hausman Test for robustness of results. Results suggested that intangible liabilities have significant negative influence on return on asset whereas and positive and significant effect of profit margin, conversely, intangible assets produce a negative effect on margins while a positive effect on ROA. However their relationship is not significant. This will help determine the credibility of financial intangible assets and intangible liabilities that supposed to influence the return on asset and profit margin.

The article analyzes the current state of the Ukrainian and world oil markets. The set of theoretical, organizational and methodological principles of accounting and auditing is clarified to clarify the methodological aspects of accounting and auditing of finished products and their sales. The organization of accounting and auditing of finished products is studied, the directions of improvement of accounting and auditing of finished products and the process of its sale at JSC “Ukrtransnafta” is determined. The analysis of financial and economic indicators of the enterprise showed that almost all indicators of the asset balance of JSC “Ukrtransnafta” during 2019–2020 have positive dynamics. Only the depreciation of fixed assets decreased by 9.8% (due to the purchase of new equipment), other current assets – by 24.5%, long-term receivables – by 19.67% and prepaid expenses – by 61.6 %%. During 2020 other non-current assets increased the most – by 422%, other current receivables increas...

This research aims to (1) determine the amount of the difference between GAAP (Generally Accepted Accounting Principles) and SAP (Standar Accounting Practices) assessment and the amount of assets that are not allowed in the calculation of assets, (2) determine the amount of the difference between GAAP and SAP ratings in the calculation of liabilities PT Asuransi Jiwa Mega Life period in 2016 and (3) determine the value Risk Based Capital (RBC) associated with the achievement of the solvency ratio of PT Asuransi Jiwa Mega Life period in 2016. The research found that (1) the largest amount of funds needed to anticipate the risk of loss that may arise as a result of the deviation in the management of assets and liabilities is at Risk Liability Insurance (Schedule D) that is equal to 49.90% (Rp. 26,445.87 million) of the total number of RBC Rp. 52,996.63 million (2) the achievement of the solvency ratio achieved by the Life Insurance Company Megalife period of 2016 by 670%, meaning that if all customers to make a claim, the insurance company can meet all of its liabilities and still have a reserve of 570%.

This research aims to determine the factors that affect the timeliness of submitting financial statements listed in manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2016 -2017. The factors are Ownership Structure, Debt To Equity Ratio (DER), Return On Asset (ROA), Company Size, Current Ratio (CR). The population used in this research was manufacturing companies listed on the Indonesia Stock Exchange for the period 2016-2017. The samples in this study were selected based on the purposive sampling method, which is carried out by taking samples from the population based on a certain criterion adjusted to the goals and problems of the researcher. Samples obtained from 153 manufacturing companies listed on the Indonesia Stock Exchange with observations for two years, so that the selected sample was 67 samples.  The analytical methods used are Descriptive Statistical Analysis, Logistic Regression analysis, Assessing the Overall model (overall model fit), Coeffic...

ABSTRACTThe financial report is a very important tool to obtain information relating to the financial position and the results achieved by the company. So that the financial statements may mean for the parties concerned it is necessary to conduct the analysis of the relationship of financial statement items. Ratio analysis can be used to give a picture of the actual financial situation of the company and whether the company is doing a healthy business. Problems taken is how the company&#39;s financial performance at PT. Kalbe Farma Tbk in 2011-2014. This research uses descriptive method that uses quantitative data in the form of financial keuangan.Laporan reports obtained from the Indonesia Stock Exchange in Surabaya located at Jl. Manyar Pumpungan 30 Surabaya.Sedangkan an analytical tool used in this research is to use analysis ratios include the ratio of liquidity, solvency, activity and profitability. Results of the study analyzes the current ratio shows that PT. Kalbe Farma Tbk....

This paper aims to approach an issue that is less common in public institutions, namely the accounting policies and the accounting treatments of contingent assets and liabilities with the goal of sustaining the quality and completeness of financial accounting information, being a culture oriented towards the constant improvement of information quality, without limits to regulating prescriptions. The approached aspects are the following: the role of accounting policies, having as a reference system the accounting standards/rules and the professional reasoning; the need for specific accounting policies; the conceptualization and features of contingent assets and liabilities; the theoretical circumstances in which they are recognized, evaluated and presented in notes to the financial statements; the potential scenarios for the practical applicability of theoretical foundations regarding these probable, uncertain "elements" in public institutions.

Indonesia as a developing country has experienced quite rapid development in several industrial sectors, especially in the plastic and packaging sectors, metals and components, ceramics, glass and wood porcelain, chemicals, pet food, paper and cement. In general, companies that are established by individuals or groups have a goal that is to obtain optimal profits with minimal costs, to achieve these goals, good and reliable management is needed to be able to manage the company so that production resources become more effective and efficient. Management that is not good will lead to various obstacles that have a bad impact. The study concluded that the Debt To Asset Ratio had no effect and was not significant, Working Capital has a positive and significant , Current Ratio has no effect and is not significant on Profitability.. Debt To Asset Ratio, Working Capital, Current Ratio has a positive and significant effect simultaneously

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Purposes: Working capital management can have a huge impact on financial performance and operational cash flows. In this research, the effect of working capital management components on financial performance and operating cash flows have been investigated. Methodology: The data used in this study are financial statements of companies listed in Tehran securities exchange for the period 2007 to 2011. Results: The difference between sales and operating profit as a benchmark for measuring performance and the difference between operating cash flow and operating profit as a measure of operating cash flow has been used. Regression results show that there is no meaningful relationship between the components of working capital management with financial performance and operating cash flow. Implications/Applications: Net income represents the change in a business&#39;s financial circumstances incurred through that business choosing to run its revenue-producing operations for one specific time ...

The views expressed in this working paper are those of the author(s) and do not necessarily represent the official views of the Central Bank of the Republic of Turkey. The Working Paper Series are externally refereed. The refereeing process is managed by the Research and Monetary Policy Department.

The purpose of this study is to examine and analyze whether profitability ratios, liquidity ratios, solvency ratios, cash flow ratios, activity ratios, and cash positions affect the financial distress in service companies in infrastructure, utilities, and transportation sub-sectors in Indonesia. The number of samples of this study are 51 companies and research ranges from 2013-2018. Total observations in this study are 289 out of 306 observations, and the rest are outliers. The method of analysis is using logistic regression analysis. The result shows there are two independent variables (Cash Flow from Operations to Total Assets and Cash to Current Liabilities) that have a significant effect on financial distress, while four independent variables (Return on Equity , Working Capital to Total Assets, Debt Assets Ratio , Sales to Current Assets) have no significant effect on financial distress.

This paper examines two types of statistical tests, which are multiple discriminant analysis (MDA) and the logit model to detect financially distressed companies. Comparison between the two statistical tests is implemented to identiy factors that could differentiate financially ...

This study uses the financial accounting data to examine if they depart from Benford’s Law. Using large sample of Indian public listed companies, the study conducts an analysis of the “first digit analysis”, “second digit analysis”, and “first two digit analysis “of test variables such as total assets, receivables, fixed assets, property, plant and equipment, inventory, current assets, current liabilities, sales, selling and distribution expenses, cost of goods sold, cash, EBIT, direct tax, indirect tax. The initial results find that most of the variables have significant deviation from Benford’s Law distribution. Further analyses indicate that business group firms indulge more data anomalies than standalone firms and small size firms have more data anomalies than large size firms in Indian context.

Purposes: Working capital management can have a huge impact on financial performance and operational cash flows. In this research, the effect of working capital management components on financial performance and operating cash flows have been investigated. Methodology: The data used in this study are financial statements of companies listed in Tehran securities exchange for the period 2007 to 2011. Results: The difference between sales and operating profit as a benchmark for measuring performance and the difference between operating cash flow and operating profit as a measure of operating cash flow has been used. Regression results show that there is no meaningful relationship between the components of working capital management with financial performance and operating cash flow. Implications/Applications: Net income represents the change in a business&#39;s financial circumstances incurred through that business choosing to run its revenue-producing operations for one specific time ...

Financial ratio analysis is very important for company, one of which is management that need to analysis of financial performance and the results are used to design business plan, evaluate management and company performance. Liquidity ratio is one of the financial ratios used with the aim of measuring the ability of a company to pay a current liability. and to measure the company&#39;s ability to finance the company&#39;s operating activities. PT. Mustika Ratu, Tbk is was one of the national companies in the manufacturing sector of herbal medicine, cosmetics and ingredients for beauty care which experienced a decline in sales, which among others was due to the large number of competitors and the entry of products from abroad. A decrease in sales will have an impact on the ability of PT. Mustika Ratu, TBK in fulfilling its liabilites includes current liabilities, especially when it is seen that most of its raw materials are still imported from abroad so there is the possibility of ad...

This article is to analyze and evaluate working capital management of selected cement companies.  The main purpose of this study is to find out the liquidity position of selected cement companies in India, five companies were selection .The duration of study is five years start from 2015-16 to 2019-20. Two ratios were used for the analysis of data: current ratio quick ratio. To test hypothesis ANOVA was used. The major findings of the study indicate that there are significance difference in the quick ratio and current ratio of selected cement companies. Based on the data analysis, there is a mixed trend in the current ratio during the year 2015-16 to 2019-20. The analysis also shows the ups and down in the quick ratio of the selected cements companies during the period of 5 year. It indicates that there is mixed trend in quick ratio during the year 2015-16 to 2019-20. Removing short-term debt from balance sheet allow companies to have better  quick and current ratios and allow to sa...

Working Capital Management (WCM) is one of the key facets of financial management and organization management, for the direct effect it has on company liquidity and profitability. There is a probability of bankruptcy for companies with poor working capital management despite generation of positive return. Current paper explains the relationship of WCM with profitability-based indicators at the hand of a new model. For this purpose, 90 listed companies on Tehran Stock Exchange whose financial data for the period 2008 through to 2012 was available were selected. The results do not confirm significant inverse U-shape relationship of Cash Conversion Cycle (CCC) and Net Working Capital to Total Assets (NWC/TA) as indicators (predictors) of working capital with Return on Assets (ROA), but do indicate a significant inverse U-shape relationship of current ratio and quick ratio with ROA. From the findings, one might infer that each industry has its own optimum current and quick ratios maximi...

The Statistical Office of the European Commission, Eurostat, at the beginning of February 2015, released for the first time data on contingent liabilities and non-performing loans of European Union (EU) member states. Contingent liabilities include guarantees, liabilities related to public-private partnerships and liabilities of public corporations that are controlled by the state, but excluded from the statistical coverage of general government. The scale of the contingent liabilities of member states reveals a completely new image of their indebtedness and exposure to fiscal risks, and also raises the issue of the need to redefine the Maastricht fiscal criteria. It is obvious that member statesunder pressure from budgetary restrictions (in line with the Maastricht criteria)-are creating liabilities that certainly affect the growth of public debt. At the same time these liabilities were only until recently beyond the reach of Eurostat.

This study uses the financial accounting data to examine if they depart from Benford’s Law. Using large sample of Indian public listed companies, the study conducts an analysis of the “first digit analysis”, “second digit analysis”, and “first two digit analysis “of test variables such as total assets, receivables, fixed assets, property, plant and equipment, inventory, current assets, current liabilities, sales, selling and distribution expenses, cost of goods sold, cash, EBIT, direct tax, indirect tax. The initial results find that most of the variables have significant deviation from Benford’s Law distribution. Further analyses indicate that business group firms indulge more data anomalies than standalone firms and small size firms have more data anomalies than large size firms in Indian context.