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Investigation of IFRS16 Effect on the Airlines
Issue:
Volume 7, Issue 5, September 2019
Pages:
132-135
Received:
10 August 2019
Accepted:
24 August 2019
Published:
9 September 2019
Abstract: Under IAS17, operating leases can be reported in the notes of financial statements, so operating leases are not recognized in statements of financial position, and the lease payments are recognized as expenses and recorded in statements of profit and loss. Therefore, operating leases have the nature of off-balance sheet, and keeping operating leases off of the balance sheet has been the veil of the true nature of a company’s liabilities. To increase the transparency of company’s lease liabilities, IFRS 16 changes the way that lessees disclose operating leases in their financial statements. and relevant financial ratios including debt to asset ratio, asset turnover ratio and EBITD will also change. PwC, Deloitte, KPMG and Ernst & Young provide guides to help companies execute the new accounting standard, and they foresee that some industries will be influenced on the basis of the degree of dependence on operating leases. This paper will compare the accounting treatment of leases in IAS17 and IFRS16, and the impact on airlines will be analyzed from financial statements and financial ratios. For operating leases, the advantage of off-balance sheet will disappear, so Airlines that rely heavily on operating leases should consider the impact of lease capitalization on their businesses.
Abstract: Under IAS17, operating leases can be reported in the notes of financial statements, so operating leases are not recognized in statements of financial position, and the lease payments are recognized as expenses and recorded in statements of profit and loss. Therefore, operating leases have the nature of off-balance sheet, and keeping operating lease...
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Analysis of the Statement of Stockholdersʼ Equity in the Context of an Institutional Platform for Small Business Sector of the Republic of Moldova
Issue:
Volume 7, Issue 5, September 2019
Pages:
136-145
Received:
11 August 2019
Accepted:
5 September 2019
Published:
19 September 2019
Abstract: Small business sector dominates in the Moldavian economy. In order to support and further develop this sector in Republic of Moldova the institutional platform was formed and implemented. The efficiency of that institutional platform, however, must be judged by the context of financial result, which is accounted by means of a financial statement. According to modern accounting methodology – methodology of International Financial Reporting Standards (IFRS) the purpose of financial reporting is the presentation of useful information to a wide range of users to make managerial decisions. The users primarily consist of owners (shareholders and investors) who are interested in information about social capital changing. The study aims at establishing the correspondence between conceptual space of accounting and financial reporting system for Small and Medium-Sized Enterprises (SMEs) in the Republic of Moldova and requirements of the modern accounting methodology in the in the context of transition to an innovative development path. In the paper we paid attention to the review of the Statement of Stockholders’ Equity, which was carried out in the following stages: General characteristics of its structure in the system of Financial Statement of the Republic of Moldova; Analysis of the conceptual basis and evolution of its model; Disclosure of its peculiarities as a form reporting the financial statement system in the Republic of Moldova.
Abstract: Small business sector dominates in the Moldavian economy. In order to support and further develop this sector in Republic of Moldova the institutional platform was formed and implemented. The efficiency of that institutional platform, however, must be judged by the context of financial result, which is accounted by means of a financial statement. A...
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An Empirical Evaluation of Different Electronic Payment Channels in Nigeria
Fidelis Onyemaechi Nedozi,
Chris Ikponmwen Omoregie
Issue:
Volume 7, Issue 5, September 2019
Pages:
146-152
Received:
30 August 2019
Accepted:
17 September 2019
Published:
29 September 2019
Abstract: Payments system plays a very crucial role in any economy, being the channel through which financial resources flow from one segment of the economy to the other. This study has tried to empirically evaluate the electronic-payment channels and their penetration level in Nigeria from 2012 to first quarter of 2019. The main research objective was to determine given the technology revolution the level of e-payment penetration in Nigeria. Concepts of e-payment, E-payment in Nigeria and the different E-payment platforms were reviewed. The data were obtained from the secondary sources like CBN, journals, and commercial banks quarterly bulletins. The study employed descriptive statistics to ascertain the level of penetration E-payment in Nigeria. The data were analyzed using percentages. From the study, it was found that ATM dominated the penetration of E-payment in terms of volume in Nigeria from 2011 to first quarter of 2019. In terms of value NEFT dominated in 2012 and 2013 while NIP dominated from 2014 to first quarter of 2019. It is recommended that more electronic channels should be open to deepen the electronic transactions in the economy to fast tract transaction as the world move into tech revolution. Also, the issue of fraud emanating from electronic transaction should be checked and reduce to give trust to consumers of such transactions.
Abstract: Payments system plays a very crucial role in any economy, being the channel through which financial resources flow from one segment of the economy to the other. This study has tried to empirically evaluate the electronic-payment channels and their penetration level in Nigeria from 2012 to first quarter of 2019. The main research objective was to de...
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Public Accounts Committee (PAC) Practices and Financial Performance: Analysis of Local Administrative Entities in Rwanda
Issue:
Volume 7, Issue 5, September 2019
Pages:
153-160
Received:
19 August 2019
Accepted:
29 September 2019
Published:
20 October 2019
Abstract: The study entitled PAC practices and financial performance: Analysis of local administrative entities in Rwanda was about assessing the contribution of PAC in raising the financial standards of local entities in terms of performance. This study considered the objectives of assess the recommendations raised by PAC based OAG observations in study area, monitoring and evaluating the progressive implementation of PAC and OAG recommendations in study area, weighting the indicators of performance in study area, finding out the correlation between the performance of local administrative entities and recommendations raised by PAC based OAG in study area. The researcher used qualitative and quantitative approaches as the study was descriptive. The considered target population were 23 in period of 2015-2018. The universal population was taken as sample size and the data collection instrument which been used were questionnaires where the data were analyzed using SPSS software. Referring to objective one, it is obvious that; in table 1 the researcher sought to know the recommendations raised by PAC basing on OAG observations and how are being implemented; in fact, it was revealed that PAC involves in regular analysis of OAG report as reported by 69.6%% of respondent who agreed to this statement. The second objective revealed that the time of implementation of PAC recommendations based OAG observation and how they are executed; actually, it was revealed that regular time to carry out monthly PFM meeting is planned as strongly reported by 56.5 and agreed by 43.5% of respondents. The third objective revealed that table 3 the indicators of performance among local administrative entities due to implementation of recommendation raised by PAC; actually, it was revealed that the district performed in, Social, health, agriculture, education, infrastructures and other entities as reported by 100% of respondent who agreed to this statement; 65.2% of respondents pointed out that Local administrative entities executed PAC recommendations. This was also supported by R square of 0.787 which implied that the predictor variables (Recommendations raised by PAC and follow up of recommendations) can explain the performance of local administrative entities at 78.7%.
Abstract: The study entitled PAC practices and financial performance: Analysis of local administrative entities in Rwanda was about assessing the contribution of PAC in raising the financial standards of local entities in terms of performance. This study considered the objectives of assess the recommendations raised by PAC based OAG observations in study are...
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Audit Model Study of Professional Research Institutions in Power Grid Enterprise
Issue:
Volume 7, Issue 5, September 2019
Pages:
161-167
Received:
20 September 2019
Accepted:
12 October 2019
Published:
23 October 2019
Abstract: Power grid companies arrange a large number of scientific research projects and spend a huge amount of money every year. There will be various problems in the management and R&D of science and technology projects. For example, the research efficiency is not high, original creativity achievements and valuable patents are not many. At present, the internal audit department of scientific research institution of power grid company cannot do very well to reflect the business characteristics and innovative requirements of scientific research institute when conducting regular audit of scientific research projects. It focuses too much on the aspects of legal compliance, which limits the play of value-added value of internal audit. The purpose of this paper is to establish a new audit mode for scientific research institutions internal auditing. The author based on the theory of innovation management, combined with the working characteristics of the power grid academy, puts forward the concept of innovation oriented audit model for grid academy, designs concentric circles of innovation oriented audit model framework, including auditing innovation performance evaluation, innovation activities, comprehensive management audit and so on, explain in detail the various levels of audit contents, audit methods within the innovation oriented audit model. The purpose of implementing this model is to unify the all audit works of scientific and technological projects to concentrate on scientific and technological innovation. This paper has an important guiding significance for the transformation of audit of power grid research institute, and it is also applicable to guide the audit work of other professional research institutes.
Abstract: Power grid companies arrange a large number of scientific research projects and spend a huge amount of money every year. There will be various problems in the management and R&D of science and technology projects. For example, the research efficiency is not high, original creativity achievements and valuable patents are not many. At present, the in...
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Obstacles and Problems Facing the Financing of Small and Medium Enterprises in KSA
Issue:
Volume 7, Issue 5, September 2019
Pages:
168-183
Received:
17 February 2019
Accepted:
17 September 2019
Published:
26 October 2019
Abstract: The current study dealt with the obstacles and problems facing SMEs in the Kingdom of Saudi Arabia. The study followed the descriptive analytical approach and found that there are multiple problems facing these institutions, the most important of which are the lack of funding, availability and capacity of employees, weak demand, government regulations and regulations in addition to some obstacles represented in fees. Labor and workers system recruitment, Competition, employment of Saudis, issuance or renewal of licenses, bureaucracy, and government measures. One of the most important findings of this study is the possibility of developing this sector in the presence of the General Authority for Small and Medium Enterprises, which relied on the division of institutions into three types (micro, small and medium) according to labor standards and revenue size. Through these results, the study recommends that the Saudi Arabian Monetary Agency (the Central Bank of Saudi Arabia) should have an encouraging policy for financing SMEs with a unified definition and a specific percentage of financing ceilings to be financed, with a legal and legislative basis and a mechanism for the development of SMEs. And to consider the establishment of banks specialized in the financing of these institutions to play their role in accordance with the Kingdom's vision 2030.
Abstract: The current study dealt with the obstacles and problems facing SMEs in the Kingdom of Saudi Arabia. The study followed the descriptive analytical approach and found that there are multiple problems facing these institutions, the most important of which are the lack of funding, availability and capacity of employees, weak demand, government regulati...
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