Tag Archive | "Accounting"

Development of Accounting in Kosovo: A Historical Perspective and Future Implications

Qualitative and reliable financial information is a key element in the decision making process, and the availability of such information is particularly important for the business management and public interest in general.

The road towards ensuring qualitative and reliable financial information is challenging and requires the use of multiple mechanisms to put in function the implementation of high quality standards and best practices, including these of financial reporting, accounting (also the international public sector accounting standards), professional education and ethical standards, in order to provide quality preparation and presentation of the information.

Accounting has the key role in the whole process, which enables the fulfillment of the need for accurate monitoring of the performance of the entity through credible and rigorous registration of all economic events that are part of its business.
Accounting promotes and supports business growth and development by facilitating strategic management, operational and financial management, as well as enables the protection of the interests of owners as investors particularly and also for other users of business information generally.

This paper presents an overview of the current situation of accounting in our country, reflecting the historical context and analysis according to the chronological flow that have influenced the development of this field in our country and the level of its use to provide relevant and accurate information, and meet the need for stronger public accountability and increased public participation in decision making.

The nature of accounting legal regulation and its implementation, the level of implementation of international accounting and financial reporting standards and the structure of education of accounting professionals are part of the analysis in this paper in order to see the development and evolution of the role of accounting in Kosovo.

  Development of Accounting in Kosovo: A Historical Perspective and Future Implications (542.6 KiB, 1,736 hits)

Posted in Economics, Information Technology, Knowledge Management, Volume VII, Issue no. 1

Resumptions and Enhancement Concerning the Trading Discounts within the Context of the New Accounting and Fiscal Regulations in Romania

Within a competitive economy, the trading discounts constitute a frequent practice, whereby the asset and service providers instill loyalty to the current customers or propose themselves to draw new clients.
While the economic and legal practice of entities use a diversity of trading discounts, both from the point of view of their name and the complexity of clauses of the trading agreements, the relevant national regulations try to take into account the trading news and innovations.
Our study proposes to specify the impact of the last changes in the accounting and fiscal legislation of trading discounts within the context whereby they may generate fiscal vulnerabilities to all the contracting entities, whether they are profit tax payers or micro-enterprise income tax payers.

  Resumptions and Enhancement Concerning the Trading Discounts within the Context of the New Accounting and Fiscal Regulations in Romania (654.9 KiB, 1,449 hits)

Posted in Economics, Information Technology, Knowledge Management, Volume VI / 2016, Volume VI, Issue no. 1

Albanian Accounting Trends in Accordance With EU Standards

A lot of work has gone to standardize the financial accounts of insurance and requirements of reimbursement ability. These projects are made by various international organizations. This will alter the way the insurance companies keep their accounts and how they design strategies. All this work in accounting is being done to increase transparency and provide the most realistic accounts of insurance. This is an indirect form to protect the policyholders. Even the regulation on repayment ability is a method of protecting policyholders. Accounting is the process of collecting and reporting financial information about entity or about a group of units. Accounting practices are developed over time and they reflect the traditional national accounts. With the development of EU and increased activity of insurance companies or other companies outside the national borders, finding of a common way to present financial data of companies is becoming more critical. In connection with commercial enterprises, accounting information users include managers, investors, potential investors, lenders, investment analysts, regulators and consumers. The accounting changes outlined here, will be mandatory for insurance companies listed on stock exchange. However it is expected that other companies will adopt these rules as they aim to clearly present the true situation of the company, critical for managing a company.

  Albanian Accounting Trends in Accordance With EU Standards (761.1 KiB, 2,786 hits)

Posted in Economics, Volume II, Issue no. 5