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Organic food sourcing, processing and distribution: a case of satisfying a growing market
5-10Views:274A case study of an organic food company in the Slovak Republic involved in producing and sourcing inputs, food processing and distribution is presented. The case is based on a June 2014 “live” case study prepared for students in International MBA in Agribusiness programs at the Slovak University of Agriculture in Nitra, Warsaw University of Life Sciences and the National University of Life and Environmental Sciences of Ukraine, Kiev. The company was established in 2001 with the objective to bring organic food to health conscious consumers. The company grows organic spelt grain, wheat, rye, buckwheat, herbs and apples on its 156 ha and 400 ha of owned and rented farmland. The company further processes these crops into more than 40 finished products. Students are presented with company information and summaries of a company visit and discussions with management. Students perform PEST and SWOT analyses, identify a shortage of owned and leased land as a problem the company must address, conduct research and analysis, and recommend product specification contracts as a solution to the problem.
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An Agro-Food Waste Commercial Utilisation Behaviour Lens among Urban Agro-producer Households in a Developing Economy
Views:143Small-urban farm businesses utilise agro-food waste emanating from own production and other levels of food supply chain activities to supplement conventional inputs. Out of these, the food produce surplus from agro-producer households is offloaded to the urban market. As such, the aim of the study was to assess the determinants of agro-food waste commercial utilisation behaviour among urban agro-producer households. An electronically-designed research tool was administered to 456 agro-producer households to collect self-reported estimates of their agro-food waste utilisation behaviour. Results indicated higher budget share towards conventional inputs (0.73) compared to agro-food waste (0.27) but the observed suboptimal production intensification could be rectified with increased use of agro-food waste. Structural equation modelling results indicated that attitude, environmental awareness and concern, motivation and perceived moral obligation had positive significant influence on commercial utilisation intention. The adopted constructs for the model could explain 79.1% of the commercial utilisation behaviour variance. Furthermore, commercial utilisation intention, risk perceptions and perceived behavioural control had significant influence on the commercial utilisation behaviour. Findings are an indicator that agro-food waste commercial utilisation intentions among small-urban farm businesses would likely transition to commercial utilisation behaviour. Since behaviour can be learnt and developed, aspects that contribute to commercial utilisation intentions and behaviour would need to be stimulated. As a strategy of reducing the collectible waste, urban authorities may introduce tailor-made programs meant to stimulate commercial utilisation intention and behaviour in small-urban farm businesses. In valuation of agro-food waste, methodologies that could factor in utility would provide more precise insights in its commercial utilisation.
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The understanding of international tourism development
53-54Views:136Tourism is travel for recreational, leisure or business purposes. Tourism has become one of the major players in international commerce, and represents at the same time one of the main income sources for many developing countries. This growth goes hand in hand with an increasing diversification and competition among destinations (Unwto, 2010).Working and serving in this pumping industry means to understand and react to the needs of all these people moving around this “small” planet! Success is defined by those who understand these needs and fulfill them to the satisfaction. Unfortunately, our industry is rather slow and we can be characterized as reactive instead of innovative.We adapt too slow compared to other industries that define the needs of their costumers before the costumers actually calls for it!
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Hungarian dairy and beef production sector technical efficiency comparsion using DEA
131-138Views:197To examine and compare the technical efficiency of dairy sector and the beef sector, this research introduced the main indicators of milk and beef production in the world, EU and Hungarian aggregates. Based on the data it can be said that the milk and beef production of Hungary does not occupy any significant position in the world as well as in the European Union neither today nor even in the past. If Hungry must compete in the European counties and international market, their dairy sector must focus to increase of their production efficiency as the key breakthrough point. This paper we compared technical efficiency of both dairy and beef sectors in total, for the year 2014 and 2015 separately and based on the farm size. The specific objectives of the research are: comparing dairy and beef farms efficiency in Hungary. Based on the results, we can determine which sector in Hungary is more effective. The second objective is to compare the efficiencies of both the sectors in 2014 and 2015 separately and from the results we can determine which year was more effective in terms of production efficiency and the third objective of the research is technical efficiency comparison of certain economic sizes for both sectors. In the research, we used (KOVACS, 2009) deterministic (DEA) model adapted to the Hungarian dairy farms and beef farms. For the dairy farms milk and dairy products as well as meat (other income). The input factors originated from the domestic AKI - FADN database. Summarizing the results of the research it can be conclude that the dairy sector is more effective than the beef sector in Hungary. In terms of years compared 2014 was more effective for both sector as compared with 2015. In regards to the farm size almost the same result in evaluating the scale of efficiency, which means that large economies can in most cases, manage resources more efficiently than small farms. In the examined years, based on the results of the DEA model, the VRS technical efficiency of the test for these two years was 72.90% for the dairy farms and 63.60% for the beef farms, which means that the dairy sector is more efficient than the beef sector in Hungary. The VRS technical efficiency of the research was 82.10% in 2014 and 75.10% in 2015 for the dairy farms and 77.50% in 2014 and 68.90% in 2015 for the beef farms, which means that both the dairy sector and the beef sectors followed the same trend and were more efficient in 2014 compared to the efficiency in 2015. The large size dairy farms were most effective in Hungary in the examined period (90.90%). VRS technical efficiency for small farms is 88% and the total number of small, the technical efficiency medium farms was 72.80% For the beef sector VRS technical efficiency for small farms is 71.30% and the technical efficiency medium farms was 74.40% and 70% of the beef meat producing farms in Hungary are medium sized. So, the conclusion is the small size dairy farms have a higher VRS efficiency than the small size beef farms whereas medium sized beef farms had higher VRS efficiency than the medium size dairy farms. As a conclusion, both dairy and beef sectors in Hungary have the potential to overcome technology and knowledge constraints and attain the upmost attainable productivity level through improvements in; farmer volume of production i.e. output, beef cattle technologies, and advertising, and the efficiency of the technology transfer process.
JEL Code: Q13
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Climate change impact on crop production in Central Asian Countries
75-82Views:191Increased risk due to global warming has already become embedded in agricultural decision making in Central Asia and uncertainties are projected to increase even further. Agro-ecology and economies of Central Asia are heterogeneous and very little is known about the impact of climate change at the subnational levels. The bio-economic farm model is used for ex-ante assessment of climate change impacts at sub-national levels in Central Asia. The bio-economic farm model is calibrated to ten farming systems in Central Asia based on the household survey and crop growth experiment data. The production uncertainties and the adaptation options of agricultural producers to changing environments are considered paramount in the simulations. Very large differences in climate change impacts across the studied farming systems are found. The positive income gains in large-scale commercial farms in the northern regions of Kazakhstan and negative impact in small-scale farms in arid zones of Tajikistan are likely to happen. Producers in Kyrgyzstan may expect higher revenues but also higher income volatilities in the future. Agricultural producers in Uzbekistan may benefit in the near future but may lose their income in the distant future. The negative impacts could be further aggravated in arid zones of Central Asia if irrigation water availability decline due to climate change and water demand increase in upstream regions. The scenario simulations show that market liberalization and improved commodity exchange between the countries have very good potential to cope with the negative consequences of climate change.
JEL classification: Q11, Q18
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Portuguese agriculture and its role in multifunctional rural development
39-46Views:143Paper aims to demonstrate the ability or inability of Portuguese agriculture to respond to changing economic conditions as well as societal expectations and demands. The main question is to know how the CAP’s evolutions through a policy with a double emphasis – on market orientation and competitiveness and on sustainability.
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Reporting companies’ performance – in respect of the international financial reporting standards (IFRS)
107-112Views:183The role of information became more important due to rapidly changing technical conditions, market and economic regulations in our globalizing world. Several regulations tend to provide the framework for reporting performance and income of the companies, but in different statements performance is inconsistently presented and many kind of evaluation method exist in the practice. These facts led to the demand of properly assess the financial health of an organization, and created a commonly accepted rule-system, which name was International Financial Reporting Standards (IFRS). In this paper I tend to present the statements, definitions and factors, which can have great influence in representing the performance, income of the company in the frame of the IFRS, and reveal the differences between the other accounting regulations (EU directives, Hungarian Accounting Act) in this field.
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Interventions to encourage sustainable consumption
51-58Views:481Sustainable consumption is hampered by a discrepancy between consumers’ attitudes and their actual behaviour in the market place. Psychological construal level theory provides an explanation for the attitude to behaviour gap as a motivational conflict between high and low level of mental construal. Based on self-determination theory it is argued that this motivational conflict presupposes extrinsic motivation for sustainable behaviour. Based on self-regulatory styles, the present paper identifies and illustrates four types of intervention strategies that can cater for extrinsic motivation for sustainable development among light users. The underlying mechanisms of these interventions suggest that the transition from external to internal regulation is catalysed by social feedback.
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Measuring efficiency of intellectual capital in agriculture sector of Vojvodina
25-31Views:143During three-hundred-year history of the market economy, the main sources of wealth creation have changed from the natural resources (mainly land and relatively unskilled labor with the exception of the master craftsman), tangible material assets (buildings, machinery and equipment, funds) to intangible assets (knowledge and information of all types) that may be contained in the people, organizations, or physical resources. In the later period of the twentieth century, science has acquired the features of direct production force. The term direct implies that unlike the relationship which existed between science and production in the IXX century, where scientific advances was incorporated through the physical labor in the tools, which, in turn, created new value through the physical labor, the relationship between science and production has become all direct, immediate, because the scientific advances allowed the funds to be produced with less labor and allowed funds itself to become "smarter" and as such to require less human intervention and human physical labor in the final production process.As a result, the need for physical labor continuously declined with time, and the application of labor is moved from direct production to processes of preparing and organizing production. Also, a large part of today's knowledge that is used in production is not embodied in machinery, and the effects of this are immense.
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The role of agribusiness in stimulating on-farm investments – case-study of the armenian dairy sector
85-91Views:125This paper analyses the impact on investments of contractual arrangements between farms and agribusiness in the Armenian dairy sector. Our empirical evidence is based on a unique survey of 300 Armenian dairy farms. The dairy sector is of particular importance as it provides vital employment and income, in an environment of weak social security and scarce job opportunities. Furthermore, milk production is predominantly organized in small-scale farms, which are most likely to be affected by adversarial financial conditions and limited in their opportunities to raise resources to invest. The results show that a large share of milk producers in Armenia is actively investing to upgrade their farm business. Furthermore, investment activity is not limited to large dairy farmers as over 30% of respondents with less than eight cows have made dairy-specific investments. We find that the linkages between farms and agribusiness – and more specifically the support programs that agribusiness firms offer to their suppliers – have been crucial in stimulating this restructuring process at the farm level. Interestingly, farmers with a more exclusive relationship to the buyer and farmers that deliver to more internationally oriented buyers are more likely to receive support. On the other hand, buyers that operate in a more competitive market are less likely to provide support to their suppliers. These findings have interesting policy implications. On the one hand, our results point to the gains that can be made from openness to international firms. On the other hand, the negative competition effect indicates that buyers are unable to enforce repayment of the provided farm services in an environment where a lot of buyers are competing for the same supply. Policy makers should look at ways of improving the enforcement capability of dairy companies under these circumstances.
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Innovation in health tourism – creation of SpaHealthy application
13-16Views:172This primary research examines the introduction of an innovative health promotion service into the market. Given the assumption that healthcare costs should be part of one’s budget, the survey reveals two trends: 1. Health concerns are more observed by consumers having higher social statuses, this means that they are ready to pay money for health preservative services; 2. Health turns into a precious value when we are running short of it. This assumption is well asserted by the finding of the survey that it is those suffering from chronic diseases that would be ready to pay the highest of all sums to buy the service.
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Human resources management in small and medium enterprises
71-74Views:236Development of small and medium enterprises (SME) represents primary goal of every modern economy. It is complex challenge which includes great number of directly concerned parties in every sector of the state and economy. SME stimulate private ownership and entrepreneurship. Their characteristic is that they are flexible and can easily adjust to changes in supply and demand on the market. At the same time they open possibilities for increase of employment, promote diversification of economical activities, support sustainable growth and give significant contribution to export, trade and increase the competitiveness of the entire economy. Importance of SME for economy is undisputable. All research show that globally, more than 90% of all business activities are realized by SME. SMEs employ two thirds of total labor of European Union. Approaching to European Union presumes harmonization of the systematic environment and improvement of the climate of entrepreneurship, private initiative, development of SME. This determination has strongpoint in current world processes that prefer the development of SME, utilizing their profit efficiency and established advantages relating to the adaptability of small business to dynamic changes in economy. Problem of Human resources management is very sensitive issue in SMEs. Namely, in big companies there are entire teams of agencies or consultants are hired for selection and education of new employees, whereas in SMEs this work is done by owner or manager. Therefore, in this paper several facts were pointed out which need to be considered in selection of new employees, since every mistake in this activity can cause far-reaching consequences on functioning of SME.
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Problem analysis of the Hungarian tobacco sector
161-166Views:173The Hungarian tobacco sector went through significant changes in the last decades. The reason of the changes were our accession to the EU, then the changes in subsidiary system, the effect of the world and within the EU’s strict tobacco policy. The number of tobacco farms declined and the future became uncertain for the farmers. Size of the farms increased and there were a concentration in the sector, so the smaller scale farmers’ activity ceased. It causes several problems in rural areas, because one of the main strengths of the sector was its significant role in rural development, as the tobacco in small scales was able to produce an acceptable income in such areas where due to the poor soil quality economically successfully growing for other plants are not suitable. The main goal of this paper is to present the Hungarian tobacco sector and its main strengths, weaknesses, possibilities and threats compared to the European Union’s situation.
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Estimation of Armington elasticities: case of vegetables in Mongolia
Views:176Mongolian people often consume meat more than vegetable in diet due to traditional nomadic culture. Nowadays, the Mongolian people’s diet has been changing who consume more vegetables with associated urbanization (half of the population live in urban areas, mostly in the capital city). Even though vegetable consumption has been increased recently, the vegetable market is still a high reliance on imports and threatening national food security. Since 2016, the Mongolian government has especially paid attention to increasing vegetable's domestic production and substitution to import vegetables (Ministry of food and Agriculture, 2017). Therefore, this paper provided to substitution elasticity (the Armington elasticity) between import vegetables and domestic vegetables in Mongolia. Additionally, we estimated the home bias value of vegetables. The so-called Armington elasticities are widely used for computable general equilibrium (CGE) analysis, which determines a degree of substitution between import goods and domestically produced goods. Several of the authors studied Armington elasticities at the product level. We choose six vegetables (such as potato, garlic and onion, tomato, carrot and turnips, cabbage, and cucumber) related to lack of information. The empirical result shows that the Armington elasticities in the long-run higher than the short-run with exception of potato which means that products are similar in the long-run. However, our estimated Armington elasticities are quite lower than the previous studies result which means that Mongolian people indicated more prefer home growing vegetables than import vegetables. Moreover, we found that the home bias value is high in the short-run even long -run, this appears to be a higher relative weight on home vegetables.
JEL code: F13, Q17, Q18
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Changing patterns in hotel room demand – case study of the Aquaticum Debrecen Thermal and Wellness Hotel
43-47Views:167Aquaticum Debrecen Thermal and Wellness Hotel is a very successful lodging property not only in Debrecen but also in the Northern Great Plain Region and in the Eastern part of Hungary and in point of fact in Hungary. In the past years Aquaticum Thermal and Wellness Hotel has been the leader in the region by revenue per available rooms (RevPAR). RevPAR indicates the overall performance of properties, accordingly it is the most commonly used statistical indicator in comparison to competitors in Hotel industry. In the past years, demand for Hotel rooms has changed. This changing has several signs. For instance the occupancy rate, the rate of domestic and foreign guests, the nationality of foreign guests, the time between booking and travelling, and many other demand patterns have changed. During the last year, the changing has been accelerated by the global economic crisis. Guests are waiting with their bookings hoping for better rates and last minute offers. The forecast of demand became much harder than ever before. These forecasts are basic ingredients of the revenue management systems, which systems are in use or will be in use by Hungarian Hotels. These systems are necessary to keep RevPAR at a higher level and to help Hotels to achieve better performance.
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The economic efficiency of apple production in terms of post‑harvest technology
99-106Views:124This study analyses how the level of postharvest technology’s development influences the economic efficiency of apple production with the help of a deterministic simulation model based on primary data gathering in producer undertakings. To accomplish our objectives and to support our hypotheses three processing plant types are included in the model: firstly apple production with no postharvest and prompt sale after the harvest, secondly parallel production and storage combined with an extended selling period and thirdly production and entire postharvest infrastructure (storage, sorting-ranking, packing) with the highest level of goods production and continuous sales. Based on our results it can be stated that the parallel production (plantation) and cold storage, so the second case is proved to be totally inefficient, considering that the establishment of a cold storage carries enormously high costs with resulting a relative low plus profit compared to the first type of processing plant. The reason for this is that this type is selling bulk goods without sorting-grading or packaging; storage itself – as a means of continuously servicing the market – is not covered properly by the consumers. Absolute efficiency ranking cannot be established regarding the other two processing plants: plantation without post-harvest infrastructure resulting lower NPV, but a more favourable IRR, DPP and PI as developing a plantation and a whole post-harvest infrastructure.
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Cost analysis of pig slaughtering: A Hungarian case study
121-129Views:221The scale of Hungarian slaughterhouses is small in international comparison and the cost of slaughter and cutting a pig of average live weight is relatively high at 16.1-19.4 EUR on average. The aim of this study is to evaluate the cost of pig slaughter and cutting through the case study of a medium-scale plant in Hungary. Based on data from the enterprise, a calculation was performed in relation to the “output” quantity of pig slaughter and cutting, as well as its value and the cost and cost structure of processing. The capacity of the examined plant and its utilisation were analysed and cost reductions were estimated for various increases of output. In 2015, the direct cost of slaughter and cutting was 18.9 EUR per pig for the medium-scale plant which processed 100 thousand pigs. When the purchase cost of pigs is excluded, labour costs accounted for the highest share (30%) of costs, followed by services (29%) and energy costs (21%). For this reason, the level of wages and employer’s contributions has a rather high significance. Analysis showed that significant increases in Hungarian minimum wage and guaranteed living wage in 2017 resulted in an estimated 7% increase in the cost of slaughter and cutting compared to 2015, despite the decrease of contributions. The capacity utilisation of the plant was a low 28% when compared to a single 8-hour shift considered full capacity. The cost of slaughter and cutting was estimated to be reduced to 14.2-17.0 EUR per pig if the plant operated at full capacity. This may be considered a lower bound estimate of cost because there are numerous restricting factors on optimising capacity utilisation, such as: 1) number of live animals available for purchase and related logistics; 2) cooling capacity availability; 3) labour availability; 4) market position of the enterprise and potential for marketing additional pig meat products. Enterprises of this scale are recommended to consider producing more value-added products and, accordingly, investing in product development.
JEL Classification: Q13, Q19
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Economic analysis of some agrotechnical factors in maize production - a Hungarian case study
5-16Views:400This paper focuses on the economic and statistical evaluation of the production technology findings of the polyfactorial maize production experiments carried out between 2015-2017 at the Látókép Experiment Site of the University of Debrecen, Faculty of Agricultural and Food Sciences and Environmental Management. The examined agrotechnical factors included irrigation, previous crop, tillage, crop density, hybrid and N nutrient supply, while the effect of different crop years was taken into consideration. In addition to descriptive statistical methods, we used multivariate regression analysis during the statistical evaluation. In the course of the evaluation, we examined three models that differed in terms of tillage methods and the consideration of crop year. In our best fit model, the factors were 71% responsible for the change in yield value. We carried out efficiency and comparative analyses in the course of the economic evaluation.
Averaged over the three examined years, it can be stated that nutrient supply and crop year had an outstanding effect on yield, while irrigation had a minimal effect. However, global warming may justify irrigation in the future, not only from a biological point of view, but also from an economic aspect.
Ideal tillage is also greatly affected by crop year, too. Altogether, of the examined tillage systems, subsoiling proved to be the best from an economic point of view.
Our investigations confirm that it is better to perform intensive farming under more favourable market conditions. The optimum of N fertilisation is probably outside of the range we examined, if the extreme changes in maize and fertiliser prices are ignored.JEL Classification: Q16, Q12, Q13, O32
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The climate change and agriculture – dimensions and correlations
33-38Views:142Global climate changes are taking place and its impacts on economy are already occurring in fields like tourism, agriculture, forestry, infrastructure, insurance industry or capital market. Specialists draw attention that climate change has negative effects and positive effects. For example, in some parts of Europe, especially in north, the agricultural may benefit from temperature rise increasing carbon dioxide levels in the atmosphere. The most important part of these changes is due to greenhouse gas (GHG) emissions from human activity. Between greenhouse gases, carbon dioxide (CO2) is the largest contributor with a weight around of 80% of total GHG emissions. The agriculture is the most affected sector by the climate change, but agricultural activities have many negative implications on environment through emissions of methane and nitrous oxide that result from changes in land use. Besides the negative impact, the agriculture may play a positive role to environment protection through the production of bio fuels. Because of the huge implications of climate change on human activities, the public authorities have made important steps in order to control this phenomenon, to reduce and prevent the negative impact.
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Factors influencing the gross value added in the sheep production chain
141-146Views:175The competitiveness of the sheep sector in East Europe has been decreasing from year to year. The value added in the sector is not generated in the countries as a high proportion of the lambs are exported. For example, in Hungary, 95% of the lambs, unnecessary for replacement, are sold at an average weight of 21 kg and are slaughtered abroad. A stochastic model was constructed to investigate the connections between the cycle phases of the mutton production. Three modules were distinguished, the lamb production, fattening and slaughtering-processing sub-modules. The aim of our study was to identify the gross value added generated in the three sub-modules and to analyse the main factors influencing its volume using the conditions in Hungary as an example. The major hypothesis of our research was that the profitability of the production chain is mainly determined by the breed. The results showed that, considering market prices, the gross value added in the processing module was mostly influenced by the number of lambs sold per ewe per year at the bottom level of the mutton product chain. The next most important factors were the weight gain in the lamb producing and fattening sub-modules and dressing percentage in slaughtering-processing sub-module. Contour plots were constructed which help to describe the relationship among analyzed factors. Using the contour plots, the gross value added for different combinations of these factors might be forecast.
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Enhancing the effectiveness of thermal water consumption via heat pumping
53-58Views:142Renewable technologies and the extension of their scope of usage basically has to face the general obstacles like any other novelties newly introduced to the market. In the case of environmentally friendly and clean technologies we must consider another critical aspect: the knowledge and the trust of the potential future users. To influence these people first we must extend their knowledge regarding renewable energies so they will be able to change their own approach about them. Usually the most crucial factor is the economic efficiency which determines the attitude of the majority of the users. Even the ones whose decision making process is highly based on the environmental patterns. In the case of any technology, the economic aspect is significantly influenced by its operational effectiveness. So this analysis – besides the direct economic matters – aims to examine how the performance of thermal water heating in greenhouses can be improved by using heat pumping.
JEL classification: Q42
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Learning Motivations, Styles and Expectations of Students – a Survey at the University of Debrecen
41-46Views:223Based on the experience of the authors, today's university students have different learning habits, expectations of learning and knowledge compared to previous generations. This raises the question of how traditional teaching, teaching methods effectively suited to their development. In this study, the authors examined with quantitative method the expectations of bachelor and master students concerning the business education at university. The survey was conducted among university students assessing whether students with different BSc/BA or MSc/MA majors show the willingness to continue their studies, and the authors were interested in their expectations concerning the business higher education. The authors also tried to find answers in the survey how well-prepared the students feel for the offered opportunities by today's market environment, or may prefer proceeding with their studies. Among the issues authors searched what are the most effective ways of learning for them, based on learning style, what motivates them to continue learning. What kind of education form is preferred by them to continue studying? They also respond the need of having theoretical and practical knowledge and the importance of developing practical life skills. In addition, it has also been surveyed what other expectations the students have in continuing their studies with regard to the institutions. The authors of this paper are working as team coaches at the Team Academy Debrecen. In the last six years, they worked with numerous teams and have experiences in developing students' skills in teams.
JEL Classification: A22
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The role of corporate branding in Serbian mobile phone operator market
Views:118This research is carried out to know the role of corporate branding in mobile phone network along with different influencing factors involved in the purchase of mobile telephone connections. This thesis discusses corporate branding from consumer’s point of view that how much they value it and what type of role it has.
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World importance and present tendencies of dairy sector
119-123Views:173The general objective of this paper is to present the world importance of dairy sector and to illustrate present tendency of milk production, consumption, trade and prices mainly based on FAO data base. World milk production was 711 million tonnes in 2010 and it is expected to increase in the future. The most significant milk producers are the EU(27), the United States and from the Asian countries, India and China. Developed countries give one-third of world milk production, while more than two-third of world dairy herd can be found in developing countries. Milk production growth is a future tendency mainly in China, India, Pakistan, Argentina and Brazil. The average level of consumption of milk and milk products is 103,6 kg/capita/year and it will increase in developing and developed countries as well. The ratio of international trade of milk and milk products to production is 6 percent and itmay expand in the future. New Zealand, the EU(27), theUnited States andAustralia are themajor exporters. There is a strong demand formilk andmilk products among others from the Asian countries, the Russian Federation,Algeria,Mexico, Saudi Arabia and the United States.Analysis of world market price of the most important dairy products it represents a strong recovery from last year, but it still remains 20 percent below its peak value in early 2008. However prices have doubled compared with prices of period of 2002–2004.
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International outlook: The notes and business report in the frame of financial reporting
155-165Views:178Are the accounting reports to be prepared on a yearly basis suitable for indicating problems, possibly for informing the stakeholders about the declining phase of an enterprise? The information needs of the various market operators are different thus the question is whether the management of an enterprise or possibly the owners place an emphasis on the adequate information. We examine the issue of social responsibility from a special approach in which, in addition to the corporate lifecycle models, there is a focus on the information content of the Hungarian and international accounting reports, moreover the content of the further report that is to be prepared but does not form a part of the accounting report. The aim of our research is to compare the notes and the further reports which meet the Hungarian, Rumanian, Slovakian and international standards and corroborate the quantitative data of the accounting report. By paralleling the notes and the further reports, we draw attention to the fact that one of the most important accounting principles i.e. the going concern concept, which the other principles are based on, will be (or will likely be) affected insofar as content of the enterprises’ reports does not comply with the legislation. In addition to the addressees of accounting, the authors point at the issue of social responsibility based on those similarities which can be observed in the relations of the value-oriented corporate governance.
JEL. Code: M41
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