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Financial Analysis of Agricultural Enterprises’ Economic Results
270-279Views:34The main objective of this paper is to give an overview about the economic results and financial status of agricultural enterprises in Hajdu-Bihar Count, as well as, froa methodology viewpoint,find the place of the used indexes in the system of effectivity indexes in farm management . From the complex database describing the enterprises, the figures on the balance sheets and profit and loss accounts were used and analysed. As a result of the analysis the below statements can be made:
The owner’s equity ratio within the total equity is very different in corporations and in individual farms. The lower values in case of corporations show their indebtedness. At the same time, the figures indicate that it is more difficult for individual farms to receive loans.
The average of dynamic indebtedness indexes, in case of individuals are closer to 0 which generally derives from the low level of liabilities. The same indexes of corporations o the other hand show significant indebtedness. The figures indicate that the yearly cash flow can hardly cover the net liabilities.
The profitability proportional to the production value is generally low, mostly negative, independent from size and organisational form.
As a summary, it can be said, that individual as well as corporate farms suffer financing problems, the nature of these problems is different in the two groups. On the on hand, the operation and development of the individual, mostly the smaller, farms are hindered by the difficulties of acquiring external capital. On the other hand, the results of corporate, mostly the cooperative, farms is impeded by the burdens of liabilities accumulated in previous years. -
The role of Local wine administration bodies in creating social and cultural capital and in the preservation of local identity
181-191Views:70the target for the European Union to make Europe the most competitive and dynamic knowledge-based economy in the world. In this process, the education and training are of great importance for the member states. The restructuring of higher education, the modernization of the universities cannot be achieved without new financial resources. They should be ensured by increasing contribution of the private sector. However it is not enough to invest sufficient funds in the educational and training system, they must be expended efficiently. The free higher education itself does
not necessarily guarantee the equal access and maximal participation. The quality of higher education and equal opportunity can be improved, if the rising funds are expended on infrastructure development and creating an efficiently working student support system.
Quality, equal opportunity, efficiency – they are the most important views for the decision-makers in the higher education reform. In my paper, I would like to interpret definitions relating to higher education and in this way I attempt to evaluate the financing systems of the Hungarian higher education formed since the change of the regime, with special regards to the normative financial system combined with the payment of tuition fees. For classification, it is necessary to present the different basic financial models. Furthermore, on the basis of the above criteria, I try to make recommendations on how to improve the present financial model in order to achieve the Lisbon objectives.
The topic is important in our days, because tuition fees will be introduced in Hungary from 2008. The problem is very complex, although the analysts in most cases tend to approach the topic with prejudice, depending on their financial and political interests. My analysis may contribute to discernment in the tangle of the pros and cons. -
Differences in Regional Development in the Northern Great Plain Region
170-180Views:119An important ambition of EU regional politics is the reduction of disparities. An important strategical objective of the Commission is to terminate underdevelopment and to ensure the development of the regions based on the principles of solidarity, equity and justice. The commission has dedicated forty percent of its common budget to achieve these goals. The differences in development are significantly influenced by the economic characteristics of the specific region, the quality and quantity of human resources, the accessibility of the region and factors influencing local quality of life.
The new spatial structure has been formed by the processes of the change of regime, the events of nineties and the economic renewal based onforeign capital investments parallel with crisis phenomenon. The economic, political and social consequences of the transformation have significantly transformed spatial structure and increased disparities. New disparities have formed, which strengthened due to the formation of east-west slopes and local crisis zones. The outstanding improvement of the capital resulted in great regional development differences, which can be detected when examining regional distribution of gross domestic product. The Eastern part of the country was most heavily affected by the collapse of heavy industry and agricultural mass production based on the Eastern markets.
It is of key importance for the region to strengthen regional competitiveness, which requires the application of consistent development-politics. Economic development is the most important, which can also draw the possibility of establishing welfare infrastructures. It is important to develop the processing industry, the supply networks and to ease the lack of capital it is also important to involve foreign capital. Developing agriculture plays an important role in transforming the structure of the economy. Since the conditions of the region, its traditions and long-term competitive advantages are favorable, thus can represent a greater ratio in the economy than the EU average. The modernisation of the agricultural sector can be promoted by supporting marketing, quality agricultural development and producer-retail cooperation. It is also highly important to promote development in transportation and informatics infrastructure and human resources.
In the future – based on the strength of the region – it is necessary to achieve such a consistent regional development politics, which by validating the principles of regional politics, serves the interest of utilizing regional development supports most efficiently and prevents the irreversible underdevelopment of the region and promotes fast development.