Continuous changes in the market and macroeconomic factors have made a significant effect on the tourism sector in Hungary. A heavily growing number of hotels could be observed in the past decade. The main question about the hotels built with high investment costs was their expected time of return. Keeping Hungary’s natural conditions in mind..., is it more expedient to build new hotels or refurbish old ones? I was seeking answers for these questions during my work. My research was aiming to explore the impacts of the non-refundable subsidies – financed by the government – provided for new health and wellness hotel projects carried out within the framework of the Széchenyi Plan. On the other hand, my study was expanded to the analysis of balance sheets and profit and loss accounts data of the hotels of Hungary according to their star (quality) rating. The major findings of the research: Considering high developmental costs subsidies play an important role in the hotel industry. It is impossible to carry out such investments using internal sources only. However, exclusive bank loans finance could drive insolvency so it is extremely risky. Non-refundable subsides provided for hotel investments created stable, countable payroll taxes and other forms of incomes for the country. In order to achieve more profitable operation, providing higher quality of services is indispensable. Taking Hungary’s conditions into account this can be reached more likely among four star rated hotels than any other star (quality) ranked establishments.
Are 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 emphasi...s 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