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Economic effects of fairs – a complex approach
21-25Views:136A complex economic evaluation of fairs / exhibitions can be considered as a novelty in the current literature. In this novel approach, each stakeholder group involved in a fair is evaluated in numerical terms, taking into account the specific cash inflow and outflow categories of that group. The net cash flow is considered as the economic value since it filters out the accumulations. Adding together all the categories, the so-called complex economic value and effectiveness is established regarding the fair surveyed. A numerical model entitled KAVA was developed in order to carry out the calculations for the complex economic effectiveness of the fair. A practical example of using the model is also shown in the paper.
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Correction method on fairs’ attraction radius
37-41Views:149At auditing a fair the measure and evaluation of the exhibitors’ distance is a important task and can be used for further promotion of the fair. In analyzing the attraction radius of different fairs one can discover some figures that may raise questions regarding a simple averaging of the attraction distances. According to the research of the author, the bias in the attraction radius can be caused by to factors: the size of the attraction region and the distance from the region’s business center. Authors explored the bias factors and suggest a correction method to remedy it. A theoretical correction model was applied to evaluate three agribusiness fairs. It is established that the corrected attraction radius gives more realistic result than the simple averaging of exhibitors’ distance.
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Determining fair rental value of land in the Hungarian valuation practice – a methodological approach
13-18Views:195The directive of 1666/2015. (IX. 21.) called ’Land for Farmers!’ has changed not only the legal terms and conditions but also the economic basis of land use in the relation of land use and resulting derivative demand. Institutionalized rental fees can be modified to market level only if it is confirmed by qualified expert’s report hired by the new land owner. Setting a fair rental value has quite a few methodological approaches. Due to the lack of a legally recommended calculation process, authors hereby are presenting a method to calculate fair rental value that is beneficial for both renter and owner. Foreign rental conditions related to the topic are also concerned in the article.
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The added value of sustainability motivations in understanding sustainable food choices
67-76Views:798Understanding consumer food choices is crucial to stimulate sustainable food consumption. Food choice motives are shown to be relevant in understanding consumer food choices. However, there is a focus on product motives, such as price and taste, whereas process motives (i.e. environmental welfare) are understudied. The current study aims to add to the existing literature by investigating the added value of sustainable process motives (environmental welfare, animal welfare and social justice) above product motives. Two on-line surveys of representative Dutch samples tested whether process motives increase the explained variance of sustainable consumption. The results indicate that sustainable process motives are of added value above product motives in the understanding of consumer food choices. In addition, product categories differ in the sustainable process motives that are most useful in explaining sustainable purchases in that category (Study 1), and different types of sustainable products (organic versus fair trade) differ in the sustainable process motives that are most useful in explaining these purchases (Study 2). In conclusion, this paper shows that understanding of sustainable consumption can be improved by considering sustainable process motives above product motives. Thereby, it is important to take the sustainability dimension (e.g., social justice versus environmental welfare) and the product category (e.g., meat versus fruit) into account.
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Information content of a sports undertaking’s statements serving different purposes – particularly with reference to the player rights
119-133Views:222In the 21st century, sport is not just a fun, social cohesive force but also a business; it has become an independent industry by now and several countries possess developed sport markets. According to estimates, sport accounts for 4% of the EU’s GDP. The actuality of our research is given by the fact that the economic aspect of sports develops continuously which is also due to that more and more amounts already stream into sports in our days. In Hungary, sport is mainly state aided and has mostly financing problems while the sport businesses existing in the more developed Western Europe are principally sponsored by the private sector. The government considers sport as a strategic branch (HERCZEG et al, 2015) and manages as such because they see the international breakthrough potencies in sport as well. Sport companies must also adapt the business-based thinking, which requires the strategic planning and operation (BECSKY, 2011). The research covers the subject of economic approach of the players’ rights. The task of accounting is to give a true and fair image about the property, income and financial situation of an undertaking. Information provided by accounting is essential for both the management decisionmaking and the market operators. In Hungary, the sports undertakings, as each managing entity, have to prepare their statements according to the Act C of 2000 on Accounting (AoA.) (NAGY – BÁCSNÉ BÁBA, 2014). The purpose of this research is to examine how a domestic sports undertaking demonstrates the value of available players in the books and how the incomes and expenditures incurred with the players are accounted for, based on the regulations of the Hungarian, international associations and the Union of European Football Associations (hereinafter: UEFA). In order that the leaders of the businesses can make quick and appropriate economic decisions, it is essential in this intensively changing world that an enterprise should have a well-functioning accounting system based on up-to-date information. International Financial Reporting Standards (hereinafter: IFRS) are intended to provide the comparability across borders. Firstly, we deal with the accounting reporting system, both the Hungarian, international financial reporting standards and, relating to UEFA, the investigation of the intangible assets to a great extent during analysing the balance sheets. Then, we examine the income statements from the viewpoint player transfers. To what extent the rules of a statement laid down by UEFA differ from the ones of a statement prepared according to AoA? What is the difference in domestic and international relations? In this study, we search after the answers for questions mentioned before.
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Athletes—the invisible resources of sports organizations
105-110Views:152Sports organizations must prepare an annual report on their operation and assets, pursuant to the current Act on Accounting. However, when preparing this report, one must face the difficulty of defining the value intellectual assets and human resources represent, and the impossibility of its inclusion in financial statements. Therefore there is a significant difference between the value shown in accounting and the fair value of sports organizations.
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Some aspects of accounting and management accounting during economic downturns
33-35Views:195Economic slowdown and downturn creates new situation for every organisation, no one can avoid facing to new situation created by the global financial-, and economic crisis.All of the organisational function should reconsider its own role within the company due to the new circumstances, Accounting and Mangement Accounting can not be exception, but they have more complex and emphasized role in these difficult times. In the following paper I can not avoid to mention some general statement about importance of accounting and accounting principles, while there are a number of criticalaccounting and financial reporting issues that accountants and auditors should consider.In the framework of the paper I can not face with all relevant issues of the topic, but after some general statement I would like to highlight some special area regarding to management accounting, which can be more important during these challenging time for decision makers and accountants.Regarding to balance sheet analysis its important to mention current debate about fair value comparing with historical cost from accounting point of view, on the other hand from the view of management reporting system I would like to highlight the importance of working-capital indicators. More practical topic is the crucial role of budgeting and forecasting during economic downturns, and at the end I would like to show why it is more important monitoring price variance and indirect cost allocation in these uncertain business circumstances.
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Agricultural policy and rural development
105-112Views:144The Common Agricultural Policy (CAP) is a cornerstone of EU policy relating to rural areas. Initially, it aimed to provide a harmonised framework for maintaining adequate supplies, increasing productivity and ensuring that both consumers and producers received a fair deal in the market. These priorities have shifted to environmental and animal welfare concerns, as well as food safety and security aspects. As a consequence, the CAP has gradually moved from a production-based structure of subsidies to a market-oriented system, integrating standards for food, environment and biodiversity, as well as animal welfare. In 2010, the EU launched an extensive debate on the future of the CAP, as the European Union needs a better tailored, reformed Common Agricultural Policy to answer the challenges of food, growth and jobs in rural areas. The European agriculture must address the expectations of rural society and demands of the market concerning public goods, the environment and climate change. This raises questions of whether the CAP payments in the past have been effective in achieving their objectives and whether direct payments should be continued for supporting agricultural environmental issues.
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Regulatory challenges of innovation in food and agriculture market authorization requirements for new foods
137-142Views:160Regulatory authorities face the challenge to strike a fair balance between the interests of consumers to ensure the safety of innovative foods and agricultural products and the interest of innovative businesses.Worldwide prior authorization schemes are applied. This contribution explores characteristics, pros and cons of such schemes. It identifies concerns but also best practices that may contribute to improving food safety without unduly hampering innovation.
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The development of integrated accounting in small and medium-sized companies in the agri- and foodsector f the Russian federation
131-135Views:154This paper focuses on the regulation of financial accounting in SMEs in the agri- and food sector in Russia. The paper presents the factors which influence the accounting system and the quality of the information it provides. The information and reports that are prepared according to international standards are not comparable with reports prepared by Russian standards. They do not facilitate external users in gathering relevant information on the current financial position. The present usage of different systems for procuring information to satisfy the needs of multiple stakeholder groups takes time, distorts information, and often does not provide a true and fair view on business performance. One way to overcome this is the use of an integrated accounting system which allows, within the limits of Russian legislation, to provide a broad information base for external reporting. International standards could be used like IAS41 or those applied in the Farm Accountancy Data Network (FADN). The derived data could be used for attraction of investments, presentation of information to all interested users, comparison of results of activities in similar companies, and as a benchmark for the activities of companies in various regions and/or segments. They could be used to compare Russian companies with similar ones in the European Union. This paper describes the benefits and pitfalls which companies potentially experience from implementing an integrated accounting information system for company management and financial reporting purposes in the Russian Federation.
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