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Showing papers on "Accounting period published in 2012"


Journal ArticleDOI
TL;DR: In this article, the analysis of inequality in the distribution of the economic result in businesses engaging in field production in the Czech Republic, by way of the assessment of the impact of subsidies on the said inequality and by defining the effect of the size of the business on the economic results as well as inequality.
Abstract: The article deals with the analysis of inequality in the distribution of the economic result in businesses engaging in field production in the Czech Republic, by way of the assessment of the impact of subsidies on the said inequality and by defining the effect of the size of the business on the economic result as well as inequality. The methodical tool is the quantification of the Gini coefficient and its elasticity. The data basis consists of panel data of 140 agricultural businesses focusing on field production for the period of the years 2005-2010.The main results of the submitted article substantiate a high inequality in the distribution of the economic result for the accounting period among field production businesses. The said inequality is not generally caused by the differing size of the analyzed businesses, and the associated volume of subsidies obtained, but is affected by other factors, such as the management quality, the investment activity of the business, or exceptional events. Subsidies do contribute to the more equal distribution of the economic result, but their impact is very small. Out of the individual categories of subsidies, the ones with the main redistribution effect are direct payments, as a result of the high proportion of total subsidies that they comprise.

6 citations


Journal ArticleDOI
TL;DR: This article showed that the choice of the accounting period not only seriously affects the level of inequality, but also varies over time, and that the size of the effect varies significantly over time.
Abstract: Under mild assumptions, Shorrocks (1978) has proved that measured inequality must decrease when the period over which income is measured, the accounting period, increases. The present work seeks to shed light on the quantitative size of this effect using a huge representative German database for the period 1975–2004. Our results indicate that the choice of the accounting period not only seriously affects the level of inequality. We can also show that the size of the effect varies over time. JEL Classification: D31, D63, O15

5 citations


Dissertation
22 Nov 2012
TL;DR: In Ghana's Companies Code (1963), Act 179 obliges all companies to keep proper books of accounts with respect to their financial positions and changes therein this article, and these books shall be kept in respect of all sums of money received and expended by, or on behalf of, the company and the matters in which the receipt and expenditure takes place; all sales and purchases by the company of property, goods and services; assets and liabilities of the company, and the interests of the members therein.
Abstract: The primary objective of an accounting function in an organisation is to process financial information about the activities of the organisation and prepare financial statements at the end of the accounting period. The modern method of accounting is based on the system created by an Italian monk Fra Luca Pacioli. He developed this system over 500 years ago. This great and scientific system was so well designed that even modern accounting principles are based on it (deSantis, 2010). Section 123 of Ghana’s Companies Code (1963), Act 179 obliges all companies to keep proper books of accounts with respect to their financial positions and changes therein. These books shall be kept in respect of all sums of money received and expended by, or on behalf of the company and the matters in respect of which the receipt and expenditure takes place; all sales and purchases by the company of property, goods and services; the assets and liabilities of the company and the interests of the members therein.

3 citations


Journal Article
TL;DR: In this paper, the use of inflation accounting by current purchasing power method and its effects on financial statements of steel companies in India have been investigated and the results show that a significant difference between adjusted cost based financial ratios and historical cost-based financial ratios occurs only for return on equity (ROE) and return on asset (ROA) and there is no significant change in operating profit ratio (OPR), current ratio (CR) and quick ratio (QR).
Abstract: This paper investigates the use of inflation accounting by current purchasing power method and its effects on financial statements of steel companies in India. Therefore the annual reports of 8 steel companies listed in Bombay Stock exchange, India has been collected. All the companies prepare the annual reports in historical cost method; therefore conversion to Current Purchasing Power (CPP) has been done. Then the ratios were calculated on both historical cost and CPP of financial statements to form two sets of ratios. An analysis of paired sample t test has been conducted on some financial ratios of these companies to see the differences between two methods. At the end the results show that a significant difference between adjusted cost based financial ratios and historical cost based financial ratios occurs only for return on equity (ROE) and return on asset (ROA) and there is no significant change in operating profit ratio (OPR), current ratio (CR) and quick ratio (QR).Keywords: inflation accounting, CPP, annual reports, Steel Companies.INTRODUCTION:Financial statements are usually reported in the traditional accounting framework commonly referred to as historical cost accounting, in which money is based as a unit of measures. In times of inflation the purchasing power of money is falling and thereby, this unit of measures does not have a constant value. As such, in accounts based on historical cost income, expenditure, assets and liabilities have a mixture of value depending on the date at which each item was originally brought into the accounts. During a period of rising prices, financial statements based on historical cost do not adequately portray financial position. There are three potentially serious problems:- An erosion of the equity base may not be clearly recognized;- The assets of the business will tend to be understated; and- Any gains and losses from holding monetary items will not be recognized.The distorting effects of inflation on the conventional financial statements can be severe. Even relatively low inflation rates can have a significant cumulative effect overtime. To combat the problem, various methods of accounting for inflation have been proposed and there has been much debate as to which should be adopted. At the heart of the debate lies the problem of equity maintenance and, in particular, how equity maintenance should be defined. By resolving this problem, other problems, such as the way in which profit is measured and how assets should be reported, can then be resolve financial transactions occurring at different dates will be expressed in terms of their purchasing power at a single, common date - the end of the accounting period. This is done by adjusting for the change in the price index between the date of the transaction and the end of the accounting period. Profit available for distribution will be derived by expressing both the revenue received and the cost of the goods sold for the period in terms of their current (end-of-accounting-period) purchasing power. The cost of assets acquired will also be expressed in terms of their current purchasing power.The sales revenue is already expressed in terms of current purchasing power as the sale of inventories took place on the last day of the accounting period. The cost of sales figure is adjusted as the inventories were acquired at an earlier date. Where there are lots of sales and purchases that accrue evenly over the period, an average index for the period is used.Cash has not been adjusted as it is a monetary item that stays fixed irrespective of changes in the purchasing power of the monetary items. (There is no loss on holding cash during the period as it was received at the end of the month.) The CPP approach is often commended for its reliability. The historic cost of items is normally used as the basis for making adjustments and the adjustments are made using an objective index. …

2 citations


Dissertation
02 Apr 2012
TL;DR: In this article, the authors focused on the issues of income taxes of self-employed natural per-sons and the problem of several possible ways of accounting and comparison of natural per -sons tax burden in surrounding countries are solved in the theoretical part.
Abstract: The bachelor?s thesis is focused on issues of income taxes of self-employed natural per-sons. The problem of several possible ways of accounting and comparison of natural per-sons tax burden in surrounding countries are solved in the theoretical part. The practical part describes the total process of accounting since the natural person?s business was set up to closing of an accounting period. This accounting period closing comprises a completion of tax return and reports for a health insurance company and a social security authority. In the conclusion of the practical part some recommendations for following accounting peri-ods are mentioned.

2 citations


Patent
18 Apr 2012
TL;DR: In this paper, the authors propose a real-time accounting of an online user, comprising of sending an instant accounting request packet to a Network Access Server (NAS) with an accounting server, in response to receiving an accounting reset packet from the NAS and with the accounting server performing an instant settlement for expenses of the user according to online usage information carried in the accounting reset packets, recording a result of the instant settlement in a bill of the accounting period that expired recently, restarting to perform accounting for the user from a next accounting period, and transmitting an accounting response packet to the
Abstract: A method of real time accounting of an online user, comprising, in response to detecting that an accounting period of an online user has expired, transmitting an instant accounting request packet to a Network Access Server (NAS) with an accounting server, in response to receiving an accounting reset packet from the NAS and with the accounting server, performing an instant settlement for expenses of the user according to online usage information carried in the accounting reset packet, recording a result of the instant settlement in a bill of the accounting period that expired recently, restarting to perform accounting for the user from a next accounting period, and transmitting an accounting response packet to the NAS to cause the NAS to clear online usage information of the user and re-calculate the online usage of the user from the next accounting period.

2 citations


Journal ArticleDOI
Hyun Joong Im1
TL;DR: In this paper, a Gibbs-sampling procedure is used to produce the marginal posterior distributions of unobserved state variables and model parameters, and then a Markov-switching filter was used to identify investment spikes.
Abstract: In this paper, we propose the use of the Markov-switching filter to identify investment spikes. In using Markov-switching filter, we apply a first-order two-state Markov-switching mean model to the investment rates de-trended using Hodrick and Prescott's (1997) filter. A Gibbs-sampling procedure is used to produce the marginal posterior distributions of unobserved state variables and model parameters. Among other advantages, this filter allows us to identify multi-year investment spikes. Some investment projects are so large that they last more than one year. Thus, a single annual accounting period would not necessarily reflect the total expenditure necessary to complete the project. Furthermore, even a year-long project need not start at the beginning of an accounting year nor reach completion by the end of an accounting year. We estimate the filter using Compustat data over the period 1988 to 2007 for 504 firms without any missing values in the period. We find that some 86% of firms have lumpy investment using the filter with the 5% level of significance. We also categorize about 12% of firm-years in the sample as having investment spikes.

2 citations