Showing papers by "Baltic International Academy published in 2014"

Asynchronous sum-of-products logic minimization and orthogonalization

Abstract: We propose a method of the asynchronous sum-of-products SOP logic simplification that comprises of minimization and orthogonalization. The method is based on a transformation of the conventional single-rail SOP synchronous logic into the dual-rail asynchronous one operating under so-called modified weak constraints. We formulate and prove the product terms constraint that ensures a correct logic behavior. We have processed the MCNC benchmarks and generated the asynchronous SOP logic. The complexity of the logic obtained is compared with the state-of-the-art representation. Using our approach, we achieve a significant improvement. Copyright © 2012 John Wiley & Sons, Ltd.

Development of small and medium-sized enterprises in regions of latvia

Abstract: For successful economic transition to the new stage of development improvements in business environment, as also the entrepreneurswho are ready to start your own business and to set up new companies. One of the main challenges the EU Member States face isthe need to boost their level of entrepreneurship and to become more competitive in the global market. That was one of the mainobjectives set by the Lisbon European Council, in March 2000, with a view to improving the Union’s performance in terms of employment,economic reform and social cohesion. Entrepreneurship is not only a driving force in the creation of new jobs, but it alsoincreases and enhances competitiveness and growth, personal fulfilment and the achievement of social objectives. The authors payspecific attention to the need to examine factors that affect the business environment development and entrepreneurship in regions ofLatvia, which determinethe complexity of the existing conditions and factors in each region in Latvia. KEYWORDS: regional development, small and medium-sized enterprises. DOI: http://dx.doi.org/ 10.15181/rfds.v11i3.621

Internal Control System as Continuous Basis of Efficient and Stable Company Development

Abstract: In condition of global financial crisis companies and investors pay greater and greater attention to the reliability of financial records.An efficient system of internal control (ICS) contributes significantly to this effect. The aim of the research is to consolidate theinternational experience in the sphere of the development and regulation of the system of internal control, to assess the feasibilityof its application to various Latvian enterprises, and to propose a conception and a model of realisation of ICS in medium and smallcompanies. According to the author, there are two main obstacles to the application of the studied theories relevant to the field ofinternal control in Latvia. The first one is the insufficiency of legislative framework, intended only for listed companies, and thesecond one is a start-up phase of business development, when the owner and top management are often combined in one and thesame person and, therefore, they may believe that all is under their control and there is no need to create a special system of control.The theoretical and methodological foundation of the research was derived from the study of a wide range of activities in the field ofcorporate management and internal control as well as provisions of regulatory and legislative acts defining the scope of requirementsto ICS. In order to achieve the set aim, several objectives were realised: the regulation of ICS in the area of corporate legislation ofthe USA and the EU was analysed; the conceptual principles and existing models of internal control were summarised; the conceptof development of the ICS for medium and small enterprises was formulated, and the necessity to introduce recommendations to thecurrently effective legislation of Latvia was substantiated.KEYWORDS: Internal control system (ICS), model COSO, regulation of EU corporate legislation, operation of ICS in small andmedium companies, non-public sector companies.

Tendencies and Factors of Regulation of Development i n Latvian Banking System

Abstract: The aim of the paper is to study the influencing factors and to identify the ways of improving the effectiveness of regulation in theLatvian Bank system (LBS). Basing on the systemic comparative and logical analysis data of the efficiency of regulation in differentstages of LBS development article demonstrates that its key factor is the level of business ethics and professionalism of majorshareholders and top management of the banks, but the main directions of improving its efficiency is an increase of the role of contentapproach to control in comparison with the formal approach. Keywords: banking system, factors, features, regulation, tendencies. DOI: http://dx.doi.org/ 10.15181/rfds.v11i3.618

The Development and Improvement of the Quality System of Audit Services in Latvia

Abstract: Audit activity is a variety of service industries, and cannot be developed independently of the major trends in this area. A strategicdirection in the development of audit is creation of the international market of auditing services with unified rules and standardsregulating audit, and creation of uniform quality criteria. This article examines the concept of quality audit service, analyzes themain problems of legislative and methodological character in the area of external and internal audit control in Latvia, and considersopportunities and ways of improvement based on international experience. The research results can be applied to construction anddevelopment of the systems of external and internal audit control, which will be providing the most reliable information about thestate of business of companies-customers, their performance and prospects for sustainable development. The financial stability ofa company, confirmed by the independent, objective opinion of an auditor, increases the growth of investments, the price of shares,improves the company’s reputation in the financial market and ultimately contributes to the stable development of a region. Keywords: quality system of audit, quality requirements, criteria, internal and external quality control. DOI: http://dx.doi.org/ 10.15181/rfds.v11i3.627

Main trends in the development of higher education institutions in latvia

Abstract: The development of higher education is amongst topical issues. The modern society realizes that the most valuable capital is a humanbeing with his/her intellectual potential and this has become the main resource for social and economic development. Over thelast decade, all developed countries have introduced national education system reforms, which have received significant financialsupport. National development strategies attempt to focus on the development of adequate education system supported by state policiesbecause it is becoming more and more evident that the quality of education determines further development of a country. Thedevelopment of a strategy for the sustainable development must presuppose the identification of the mission and aims for short-termand long-term activities. The purpose for this article is to analyse the main trends of higher education in Latvia in order to identifythe mission and strategy for sustainable development of higher education institutions in Latvia. There were applied such researchmethods as analysis and synthesis of scientific literature, normative acts and documents that regulate the development of highereducation in Latvia and EU, methods of grouping, comparisons, classification, summarizing, description and prediction. Keywords: higher education, Bologna process, mission and strategy of development. DOI: http://dx.doi.org/ 10.15181/rfds.v11i3.609