Baltic International Academy

About: Baltic International Academy is a education organization based out in Riga, Latvia. It is known for research contribution in the topics: Logic synthesis & Parametric statistics. The organization has 81 authors who have published 96 publications receiving 231 citations. The organization is also known as: Baltic Russian Institute.

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 the international experience in the sphere of the development and regulation of the system of internal control, to assess the feasibility of its application to various Latvian enterprises, and to propose a conception and a model of realisation of ICS in medium and small companies. According to the author, there are two main obstacles to the application of the studied theories relevant to the field of internal control in Latvia. The first one is the insufficiency of legislative framework, intended only for listed companies, and the second one is a start-up phase of business development, when the owner and top management are often combined in one and the same 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 of corporate management and internal control as well as provisions of regulatory and legislative acts defining the scope of requirements to ICS. In order to achieve the set aim, several objectives were realised: the regulation of ICS in the area of corporate legislation of the USA and the EU was analysed; the conceptual principles and existing models of internal control were summarised; the concept of development of the ICS for medium and small enterprises was formulated, and the necessity to introduce recommendations to the currently effective legislation of Latvia was substantiated.

Assessment of the development prospects of trade relations of latvia and southeast asia

Abstract: In the article presented, the authors carry out the analysis of export — import operations of Latvia with Asian countries. Based on the UN Resolution on Sustainable Development 2030 adopted in 2015, the concept of developing the world until 2030 is presented for seventeen goals and 169 goals. The convergence of Europe and Asia based on the trade cooperation will certainly lead to a deepening of economic relations between the regions. Using the trading strategies of P. Krugman, C. Lancaster and I. B. Krevis, the authors analyze export-import operations between the countries of Southeast Asia and Latvia. The authors, particularly focus on the main partners of Southeast Asia: the People’s Republic of China, Hong Kong, Taiwan, Japan, South Korea, and Singapore. The authors carried out the analysis of the calculated volume of exports to countries for the period from 2015 to 2017, as well as carried out the analysis of the goods exported by Latvia, identified the leaders of export operations from the countries of Southeast Asia. Based on the statistical date of Latvia, the authors pay special attention to the calculation and classification of exported goods to the countries of Southeast Asia. As a result of the analysis, the authors revealed that the main export goods to Southeast Asia are machinery, mechanisms and electrical equipment, mineral products. The analysis allowed ranking the countries of Southeast Asia by the volume of exported goods. Given the trade volumes of Latvia and the countries studied, it is proposed to strengthen the role of SMEs in trade between regions. The analysis of the number of small and medium enterprises of Latvia from 2015-2017 is carried out, as well as the inclusion of SMEs in the trade relations of Latvia and the countries of Southeast Asia is justified.

Analysis of the Influence of Product Reliability on the Cost Structure of the Manufacturer Performing Warranty Repair of the Released Products

Abstract: We wspolczesnej gospodarce rynkowej kazde przedsiebiorstwo walczy o klienta. Żebyprzyciągnąc i utrzymac klientow, firmy tworzą i rozwijają szeroki wachlarz dodatkowych ofert, ktore sprawiają, ze ich produkty są bardziej atrakcyjne. Są nimi preferencyjne warunki platności, elastyczny system obnizek cen dla klientow zbiorowych i indywidualnych, jak rowniez systemy gwarancji i konserwacji wytwarzanych produktow.