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Examination of the Net Profit during the transition to IFRS
Views:113The research examines the impact of the transition to IFRS in the context of companies operating under the Hungarian accounting environment. The focus of the study is on first-time adopters that also prepare their individual financial statements in accordance with IFRS. Based on the descriptive statistical analysis, the average net income is higher under IFRS than under the Hungarian accounting standards for both high and low capital-intensive companies. However, the difference is not significant, especially in the case of companies with low capital intensity. Due to the high variability in the results, extreme values were filtered out, yet the data still did not follow a normal distribution. The Wilcoxon rank-sum test showed p-values above 5% in both clusters, indicating no statistically significant difference between net income figures reported under the two accounting systems. This finding is further supported by the effect size values, which reflect a weak relationship between the variables. Overall, the transition to IFRS does not have a meaningful impact on the net income.
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Comparative analysis of the first-time application of international financial reporting standards, using the example of two companies
107-119Views:328In this article I have made a comparative analysis of the first application of International Financial Reporting Standards (IFRSs) from the perspective of two Hungarian companies engaged in financial activities, Budapest Fund Management Ltd. and Fundamenta-Lakáskassza Kft. The aim of the research is to explore the differences between the Hungarian accounting system and IFRS, with a special focus on valuation principles and methods.
The study presents IFRS 1, IAS 1 and IAS 12 and the effects of the transition to IFRS on the financial statements. Of the two companies examined, the changeover resulted in only minimal changes for Budapest Fund Management Ltd., while Fundamenta-Lakáskassza Kft. experienced more significant changes, particularly in the accounting for securities and deferred taxes. The research concludes that IFRS-compliant reporting provides more detailed and transparent information to market participants. However, the transition to IFRS can impose a significant administrative and financial burden on companies, especially smaller companies. The author suggests further convergence of the Hungarian accounting system towards IFRS, taking into account cost-benefit ratios.
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Subsequent measurement models according to ifrs in bux index comapnies
69-77Views:288The main purpose of the research is to examine the models used for the subsequent measurement of property, plant and equipment, intangibles, and investment properties in the case of BUX index companies. Since the BUX index includes companies listed on the Budapest Stock Exchange, they must prepare their financial statements according to the International Financial Reporting Standards (hereinafter: IFRS). In my research, I examined the models used by the companies of the BUX index regarding the subsequent measurement. As a research question, I formulated whether the companies of the BUX index use a model similar to the model used in Hungarian accounting or take advantage of the transition to IFRS and instead use models that show assets at fair value in their books. The study points out that the routines of the evaluation methods used in the previous Hungarian accounting system remained even after the transition to IFRS.
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Common Aim - Seperate Way? posztszocialista átmenet Európában
5-15Views:179The study analyses the transition of the East-Center-European and Baltic Countries after the change of the regime up to now. It tries to place these countries in the presented mixed economic models and examines how they comply with the conditions of the sustainable development. The extent of state involvement in the economic and the social processes is key issue because its determines economic growth. The author of the study concludes there is no economic growth without an adequate institutional system and the stability if the state budget. Another conclusion makes it clear that the countries mentioned above cannot be grouped and have met the criteria of sustainability in a specific way so far.
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The status and challenges of the digitalization of rural areas in Hungary
33-44Views:426The aim of this study is to explore the economic and social impacts of digitalization in rural areas of Hungary, with particular attention to the role of infrastructural development, digital skills, opportunities for the younger generation, and the adaptability of rural enterprises. The research is based on secondary data analysis, drawing from national and international databases to examine the current state, challenges, and opportunities of rural digitalization. The findings reveal that, although infrastructural improvements—especially in broadband network coverage—have brought significant progress, the digital transition is still hindered by a lack of financial resources, insufficient digital competencies, and limited access to technological innovation. The study emphasizes that digitalization in rural areas is not merely a matter of technology but also a strategic tool for promoting social equity and territorial cohesion. Accordingly, the author proposes the implementation of complex, targeted, and community-oriented development policies to support inclusive rural digital transformation.
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Is migration hindering or assisting economic development? An analysis of international experiences
29-34Views:272The economic and political transition taking place in Central-East Europe has brought about a lot of changes the consequences of which make an impact – among others – on the working conditions, income levels and general living conditions of the population. These changes helped to open up the economy as well as society and made it possible to enjoy a feeling of freedom in several realms of life. The question is how the individual is able to exploit this freedom in his own life situation? Of the possibilities brought by the EU accession in 2004, internal migration is getting more and more significant. Is this a new phenomenon characteristic of only Europe and why has it increased so much in the past decade? The issue of emigration must be tackled from several aspects of which I will focus on three in my present paper. These are the necessity of finding employment abroad, the options of the individual worker and the policies of the host country in assisting settlement of the immigrant. Earlier this year, with the help of a TEMPUS grant, I had the opportunity to take a study trip in Belgium specialising in this topic. I would also like to share the experiences of this one-week program with you.
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The phenomenon of global climate change and its consequences from a regional and sectoral perspective
103-114Views:246Global climate change poses a significant threat to the planet and our well-being, with carbon emissions being a key contributing factor. The aim of this article is to delve into the complex system of factors influencing carbon emission trends among key countries, examine sectoral differences contributing to such emissions and understand the global actions taken to mitigate the climate change. For this purpose, both quantitative and qualitative research were conducted, and several statistics were used to provide a comprehensive insight on the subject. We have found that while industrialized countries have historically been major contributors to carbon emissions, the rapid economic growth and industrialization witnessed in China and other developing countries mainly in Asia have led to significant increase in their emissions in recent decades. Furthermore, not only regional but sectoral differences could be spotted as the energy sector, where fossil fuels remain a dominant source of energy despite growing efforts to transition to renewable sources, contribute the most to carbon emissions. Lastly, international climate conferences, such as the landmark Paris Agreement, as well as the current energy strategy in EU have sought to mobilize global and regional efforts to mitigate climate change and achieve net zero emissions.
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ESG among hungarian small and medium-sized enterprises
85-96Views:949Sustainability issues have become increasingly important in recent years in all areas of business. Regulations that were initially only mandatory for bigger, listed companies will in the future also apply to smaller and unlisted companies due to the expectations of supply chains, bank financing and other stakeholders. The aim of this study is to present the attitude of Hungarian small and medium-sized enterprises (SMEs) towards sustainability criteria through secondary data collection. As a primary research, I used an online questionnaire to assess whether the management of Hungarian SMEs are aware of the ESG framework, to what extent they integrate sustainability criteria into their business activities, whether they are part of their business strategy, and how they relate to sustainability reporting. I will also take a look at the motivational factors behind the implementation of ESG considerations by Hungarian SMEs and the factors influencing disclosure practices.
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Analysis of practice of sustainability reports
43-52Views:499The responsibility of companies to reduce the negative effects of climate change is obvious. The transition from a traditional linear economy to a circular economy means an increasing burden on companies. Besides the adequate financial performance, more and more emphasis is being placed on environmental performance. This study examines the non-financial sustainability reporting practices of 20 companies listed on the Bucharest Stock Exchange. The analysis used non-financial reports of companies with the highest market capitalization between 2020 and 2022. The analysis results support that the reports of environmentally sensitive companies are more extensive and detailed concerning investigated aspects. The details and length of the companies’ ESG (Environment, Social, Governance) reports increased during the three years examined. The environmental and social aspects of disclosed documents are more detailed for the banks, the oil extraction, and the telecommunication companies. In the company sample examined, it can be observed that most of the reports are prepared according to the GRI regulation. It can also be observed that the companies examined made more detailed and longer reports. The research results also support the fact that the aspects of the ESG report (E, S, G) also depend on the sector in which the companies operate.