In the past few years the goods have been on sale in retail outlets throughout the whole year, not just at the end of the particular season or during holidays. Due to the reduced purchasing power of the population promotional sales have become interesting not only to buyers but also to sellers who wish to prevent the decrease of sales or to maintain the existing sales. The article deals with discounts from the taxation and accounting viewpoints, taking into consideration the Act on Commerce and the Act on Protection of Consumers.
Autor: Mr. sc. Đurđica JURIĆ, dipl. oec. i ovl. rač.
The global crisis has caused a lot of problems in the companies all over the world, but especially in the small under-developed countries. Many markets have disappeared. The demand has rapidly dropped, resulting in the substantial decrease of income. A sudden drop of income has caused losses in many companies, which try hard to find the solutions of how to overcome the crisis. The primary issue to be solved is how to decrease the costs in order to avoid losses. There is the question whether the theory can help the practice in avoiding or at least alleviate the negative consequences of decreasing the costs. The article presents the possible models of cost management in the crisis.
Every production activity has its specifics. Therefore, in the accounting of these activities it is important to take into consideration the legal provisions which determine the operations of the specific activity and be acquainted with the production process, in order to define the agenda of documents and to ensure the corresponding accounting of the business events based on such documents. The article analyzes the specifics of the bakery production and defines the specific procedures regarding keeping the KEUB Book, norms, recording of production calculation, the return of bakery products and other specifics that the entrepreneurs are faced with in their business practice.
The development of infrastructure is usually financed from the public sources i.e. on the account of the state budget. However, recently there have been joint investments of the state and private capital, the so-called public-private partnership. In some cases the construction and maintenance of infrastructure are financed by the private capital, whereby the state is a concessionaire and a certain company constructs, maintains and charges the use of the constructed buildings. The article presents the problem which arises in the financial reports of the concessionee who constructs, maintains and charges for the services of the constructed buildings. The IFRIC 12 – Agreement on Concessions for Services provides the explanations for the above stated issues.
The entrepreneurs working with securities create the additional records which provide the additional operating data. The official form and contents of such records is not determined by law, so each entrepreneur may create the records according to his/her needs. The article presents the possible forms of the additional records of received and issued securities.
The article presents the organization and performance of the legal and physical persons who provide the accounting services to the enterprises in Norway. The professional accountants obtain the certificate of a certified accountant. Such a certificate is issued by the Agency for Supervision of Financial Operations. The article explains the supervision of performing the accounting activities, including the obligation of auditing financial reports in Norway.
Autor: Emir HATIBOVIĆ, Certified Accountant in Norway
In the case of fixed term depositing of cash by the persons applying the accounting of budget and budget beneficiaries there are two questions: when should the income from interests be recorded when are they due but not collected? When the period of fixed term depositing is not completed should the accounts of the class 5 Expenses for financial assets and repayment of loans be used through the accounting period? In view of the business trip, a budget beneficiary should upon withdrawal of cash take into consideration whether the entity operates through the unique account of the local treasury. If this is the case, some recordings should be adjusted to the corresponding budget. The article presents the examples of recording the transactions of fixed term depositing of cash and business trips.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
A non-profit organization may lease or provide a lease of business premises according to the contract on lease. The obligations between the lessor and the lease-holder should precisely be determined by the contract on lease, which should be prepared in a written form. The contract should also state the possible investments by the lessor into the business premises as well as the way of their inclusion in the lease charges. The author of the article presents the way of recording the lease of business premises by a non-profit organization from the viewpoint of accounting and taxation.
Autor: Mirela GLAVOTA, dipl. oec., ovl. rač. i ovl. rev.
In the Republic of Croatia there are three basic accounting systems. Each of them monitors the work of a certain group, which principally comprises legal persons. The systems have the common basic characteristics. Accordingly, the accounting of enterprises, the accounting of budget and budget beneficiaries and the accounting of non-profit organizations are presently being applied. The article presents the guidelines for the accountants working with non-profit organizations. They are referred to the basic differences between the taxation systems, including a few hints regarding the labour law and the contributions for obligatory insurance of physical persons.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
The R-Sm Form contains the data on the calculated and paid receipts, which serve as the basis for acquisition of rights from pension insurance by insured persons. Due to the fact that the data presented in the R-Sm Form are used for determination of the years of service and pension, it is essential to enter the data correctly and to respect the deadlines for delivery of the data to the corresponding institutions. Although filling-in the R-Sm Form is the matter of technique, it is important to be well-informed about the obligatory insurance system in Croatia. The obligatory insurance system comprises the obligatory pension insurance, health insurance and the insurance in case of unemployment. The article presents the procedure of filling-in the R-Sm Form.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
Among other regulations, the institute of distraint on salary is determined by the provisions of the Distraint Act (the new and old one), which partially became effective this year. The above stated Act as well as other regulations referring to the distraint, determine the institute of distraint on salary. However, certain issues which arise in practice have still remained unsolved. The article tries to offer the solutions to such issues.
According to the written contract on cession a tax payer may transfer his/her receivables for taxes to some other party, which is often the case in the situation of the reduced non-liquidity between the business entities. Within the determined deadline the written contract on cession is to be submitted to the local office of the Tax Administration according to the permanent residence or the usual residence of the cessor, which is binding for the tax body, except in the case when the distraint procedure is carried out on the cessor. The party who acquires such a right need not be a physical or legal person, nor a tax payer. The author of the article writes about the elements which should be included in the contract on cession, including the procedures which have to be carried out by the authorized person in the Tax Administration after accepting the above stated contract.
Autor: Mr. sc. Mirjana MAHOVIĆ KOMLJENOVIĆ, dipl. oec.
Auditors are obliged to act for public interests, which implies a greater sensitivity upon fulfilment of ethical norms applying the corresponding code of professional ethics i.e. ethical principles and rules. The article analyzes the obligations of professional accountants (auditors) determined by the Code of Ethics, including the necessary characteristics of an auditor, the phases of ethical development of an auditor and the application of the ethical integrity of an auditor in practice.
In May 2011 the International Accounting Standards Board published the IFRS 13 – Fair Value Measuring – which defines the fair value, determines the unique framework for fair value measuring and requires publishing on fair value measuring. The provisions of this IFRS refer to all other IFRSs which require or allow measuring or publishing fair value (which includes measuring of the fair value reduced by the sales costs, measuring whose basis is fair value or publishing of such measuring), except in the cases when such measuring is not required.
The European Commission analyzed the statistical reports on the increased consumption tax and Bulgaria, the land which has become the tax oasis. The European Commission has also proposed the amendments in the legislation of economy such as: markets of public procurement, protection of workers, traffic fines over the board, etc.
In the today’s business environment, where the increase of income is more difficult due to the rising competition and market saturation, the cost management has become one of the most important methods of increasing profitability of a business entity. This article presents some methods and procedures of cost management as one of the most important components through which a business entity can obtain the competitive position on the market.
The term of the invested capital is associated with the contemporary measuring of business excellence – economic profit and economic added value. A number of practical measures which are constantly being developed within the framework of the value-based management, have been created on the starting point of economic profit. This article explains the importance of the invested capital and the costs of such a capital, in order to determine the results of business operations.
The entrusting of service provision of credit institutions to service providers by the third parties was performed even before the Act on Credit Institutions and the Act on Payment Transactions were passed. However, due to the approaching of the Republic of Croatia to the Euro-Atlantic Integrations, specific provisions have been transferred into the new system of payment transactions of the Republic of Croatia. The Decision on Externalization defines in more details the elements of entrusting of service provision to service providers, especially when this is entrusted by the credit institution according to the contract. The same Decision determines the rules of the risk management connected with such contractual entrusting of the activities, the particular internal by-laws connected with such contractual entrusting of the activities, the requirements for access to the data and documentation and direct monitoring of the Croatian National Bank, the minimum contents of the contract signed with service providers as well as the contents of the documentation to be estimated by the Croatian National Bank. The provisions of the above stated Decision are applied to the credit institutions which have their headquarters in the Republic of Croatia, which obtained the work permit from the Croatian National Bank and the branch offices of the credit institutions from the third countries which obtained the permit for provision of services from the Croatian National Bank.
Obveznici primjene propisa iz područja sprječavanja pranja novca i financiranja terorizma trebaju u određenim okolnostima obavještavati odgovarajuće tijelo. U ovom se članku pojašnjavaju okolnosti i način obavještavanja Ureda za sprječavanje pranja novca o sumnjivim transakcijama za osobe koje obavljaju profesionalne djelatnosti – odvjetnike, bilježnike, računovođe, revizorska društva i porezne savjetnike.
1. Uvod 2. Način i rokovi obavješćivanja Ureda 3. Vrsta i način vođenja evidencija 4. Popunjavanje obrasca UZSPN-O-54
In the past few years the banking sector has been going through serious turbulences, not due to its fight for survival or contracted activities but due to the increased doubt regarding the correct direction and dynamics of its development and the measures of the institute of its supervision. The new proposals of the Basel Standards prove the confusion and insecurities in explaining the market phenomena and disappearance of the absolute belief in the domination of the efficient market as the environment of the limitless and unconditional growth. Therefore, the current threatening instability should be corrected in order to return to the natural rates of growth and the re-establishment of the traditional banking operations, without endangering the stability and the allocative and cost effectiveness in the financing of economy.
Autori: Doc. dr. sc. Roberto ERCEGOVAC Ana KUNDID, bacc. oec
Regardless of the almost complete liberalization of foreign currency operations, which started at the beginning of 2011, the legal means of payment in the Republic of Croatia is still the Croatian Kuna. Accordingly, the licensed exchange offices, which obtained the license to perform foreign exchange transactions according to the Act on Foreign Exchange Operations, play an important role in such operations. The author of the article presents and comments on the changed regulations on foreign currency operations performed by the licensed exchange offices.
The Croatian National Bank should systematically be informed about foreign currency transactions. It is informed depending on certain circumstances. Due to the fact that such circumstances can be changed. foreign currency residents may in a certain period be obliged to make a report, whereas in some other period they are not obliged to act in such a way. Similarly, the transactions of the same kind should in some cases be reported and in some other cases not. Besides, various foreign currency residents should report on the same transactions in different ways. The article presents the procedure of making reports to the Croatian National Bank and explains the general issues of such reporting.
After two and a half years of application of the Act on Agricultural Land, the Croatian Parliament urgently passed the Act on Amendments to the Act on Agricultural Land on 27 May 2011, which was published in the Official Gazette and became effective on 16June 2011. The article contains the explanations of the adopted amendments to the Act which refer to managing the agricultural land.
The extraordinary termination of contracts on employment by the employer are rather interesting and indicating. The legal basis of such termination as well as a more successful result of the labour dispute becomes easier through observing the practice of the Supreme Court of the Republic of Croatia. Due to the numerous legal situations and facts which appear in labour relations it is very important to know which fact is the most important when giving the extraordinary termination of the contract on employment. The analysis of the court practice regarding such labour disputes may be of great help.
In Croatia there are complete legal regulations which determine the scope of work of the company’s management, their obligations and rights, which can be changed or amended by the company’s by-laws. However, the Croatian legal and regulative framework has so far shown that there are still many confusions regarding the regulations which refer to the responsibility for damages according to the provisions of the Companies’ Act.
The Directive on drawing up and delivery of the Statement on Fiscal Responsibility and the Report on Application of the Fiscal Rules was passed. The Directive determines the form and the contents of the Statement on Fiscal Responsibility, the procedures and deadlines of its preparation and delivery, the way and deadlines of reporting to the Ministry of Finance on the observed irregularities after checking the contents of the Statement as well as the form and contents of the Report on Application of Fiscal Rules according to the Act on Fiscal Responsibilities. The article presents for the first time all the viewpoints of the Statement and briefly explains the report on application of the fiscal rules.
Autori: Ivana JAKIR-BAJO, dipl. oec. Ivana MALETIĆ, dipl. oec.
U časopisu RRiF, br. 2/11., u članku Nova godišnja izvješća u financijskim kontrolama autori su predstavili novi Naputak za izradu godišnjeg izvješća o sustavu unutarnjih financijskih kontrola u javnom sektoru koji je objavljen u Nar. nov., br. 3/11. Proračunski su korisnici za 2010. izradili godišnja izvješća sukladno novom Naputku te je izrađeno detaljno Objedinjeno godišnje izvješće o sustavu unutarnjih financijskih kontrola koje je Vlada RH usvojila na sjednici 7. srpnja 2011. Autori u ovom članku daju pregled najbitnijih rezultata analize godišnjih izvješća u području ovog sustava.
1. Uvod 2. Trenutačno stanje u području financijskog upravljanja i kontrola te budući smjerovi razvoja 3. Unutarnja revizija 4. Aktivnosti Središnje harmonizacijske jedinice realizirane u 2010. 5. Zaključak
Belje is the oldest agricultural facility in Croatia, which has continuously been operating for more than 300 years. The establishment and the development of the Belje farm have been conditioned by the events and the wars in this part of Europe. Accordingly, the permanent business operations can be comprehended with consideration of the historical facts. The area of Baranja, where Belje is located, has belonged to the territories of various countries throughout the history, including various owners and various economic and social organizations.
