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The financial significance of player rights based on the financial statements of hungarian and international football clubs
76-85Views:67In contemporary football, the financial dynamics of clubs are increasingly influenced not only by on-field performance but also by player market transactions, which have gained significant economic importance in recent years. Transfers have become pivotal financial events for football clubs, with the sale of player rights playing a fundamental role in their revenue structures and financial strategies. This study examines the financial statements from 2020 to 2024 of three football clubs operating under different accounting standards: FTC Labdarúgó Zrt. (complying with Hungarian accounting regulations), Borussia Dortmund KGaA, and Juventus Football Club S.p.A. (both adhering to IFRS). Through a comparative analysis, the research investigates the extent to which revenues from the sale of player rights contribute to the total income of these clubs and whether there is a discernible trend of increasing reliance on this revenue stream during the specified period. The study aims to elucidate how intensified activity in the player transfer market is reflected in the financial statements of these clubs, particularly concerning shifts in their revenue structures.
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FINANCIAL ANALYSIS OF LISTED COMPANIES OF VISEGRAD COUNTRIES AND ROMANIA
8-17Views:318In this study, listed companies of 5 countries (Hungary, Slovakia, Poland, Czech Republic, and Romania) were analyzed between 2014 and 2018. The data was downloaded from www.EMIS.com. Financial institutions and companies with too many missing data and those that were not full period listed on the stock exchange were removed from the dataset. The main aim of the research was to compare the performance of the listed companies on the stock exchanges of countries examined. First, there was analyzed performance indicators, then market indicators. Using variance analysis, there was investigated the differences between countries based on ROS, ROA, ROE ratios, which then was expanded to include some market ratios. Based on the results, it can be stated that due to the difference in the number of listed companies and the size of the companies, large variations can be observed both within and between countries. No best country can be determined because almost all of the indicators perform better in different countries during the period examined. It is important to note that earnings per unit capital are the highest in Hungary and the Czech Republic, so investors are likely to expect higher returns in these countries. During the analysis of variance, there could not be found in many ratios with significant differences between countries over the years investigated.
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Analysis of practice of sustainability reports
43-52Views:446The 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.
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Exploring fintech adoption: the role of age, education and ai openness
59-70Views:39The aim of this research was to investigate the spread of fintech innovations, particularly digital payment solutions, and the related issues of data protection. Based on the questionnaire survey, it can be concluded that younger generations are more open to innovative fintech solutions, use them more frequently, and are less concerned about potential risks and dangers. In contrast, older age groups exhibit different characteristics. The acceptance of digital solutions increases with the level of education, especially in the case of innovations such as online banking or mobile payments. However, openness to the application of artificial intelligence in finance is still in its infancy, and no significant correlation was found between educational attainment and openness to AI-based financial services. The analysis also placed strong emphasis on issues of security and trust. The results show that while age influences which payment method individuals consider the safest, education level does not have a significant effect on this perception. These findings suggest that attitudes towards innovation are influenced not only by age-related characteristics but also, in some cases, by the level of education. Overall, the research highlights a growing acceptance of digital financial solutions, particularly among young people, but it also emphasizes the ongoing importance of trust—especially from the perspective of older generations and users concerned about data protection.
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Comparative analysis of the first-time application of international financial reporting standards, using the example of two companies
107-119Views:243In 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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Practical experiences of business performance measurement in Hungarian e-commerce
58-75Views:94In E-commerce is gaining ground all over the world, and its role in the global economy is growing. However, it is important to note that the current inflationary environment puts e-commerce at a disadvantage compared to traditional sales. Rising prices for food and everyday goods have been reflected in consumers' shopping baskets, while e-commerce has seen increased demand for cheaper substitute products. This has reduced basket value and made it difficult to meet performance targets. As traditional stores have grown in importance, e-commerce's share of total trade has fallen from a record high of 10.4% in 2021 to 9.6% in 2022. It is forecast that, within ten years, 30% of retail sales will be made online. These changing shopping habits will present challenges for business leaders. The research aims to determine the extent to which e-commerce businesses in Hungary are influenced by performance measurement tools and systems, how these tools and systems are used, how they improve performance, and their impact on the achievement of corporate performance objectives. It is particularly important to examine which areas can be improved and which pose barriers or risks to achieving targets. In order to make key decisions, business leaders require information on the most impactful factors and those that will help them to achieve their goals. To achieve this, it is necessary to assess companies' current performance improvement and measurement practices and the results achieved, as well as identifying the interrelationships between the different factors. This research was conducted through a questionnaire survey of e-commerce businesses. Based on the responses, the factors that contribute most to effective management were investigated, highlighting the performance improvement and measurement tools on which these businesses should focus.
The questionnaire-based survey comprised a total of 24 items, organized into two main sections. The first section focused on collecting general background information, while the second section aimed to assess practices related to performance measurement and evaluation. This latter section included questions concerning performance objectives, performance-inhibiting and risk factors, the tools and methods used for performance measurement, operational, financial, and market-based performance outcomes, as well as the evaluation of measured performance.
A total of 224 valid responses were collected. During the data analysis, principal component analysis (PCA) was employed to reduce the dimensionality of the variable groups. Closely related variables were grouped into single components based on their intercorrelations. Subsequently, a dependent variable was defined, and the Backward elimination method was applied to identify those principal components that best explained the variance in the dependent variable. Cluster analysis was conducted to form distinct groups, and the financial, asset-related, and income-related indicators of the resulting clusters were examined. These clusters were later utilized in hypothesis testing. Improved profitability, increasing returns, and enhanced financial performance were observed in Cluster 2. For enterprises within this cluster, the introduction of new products, the establishment of long-term growth objectives, and the monitoring of website visits and customer complaints were considered particularly important. These findings suggest that such factors should be given special consideration by enterprises operating in online marketplaces.
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ECONOMIC ANALYSIS OF THE TOP 9 FITNESS SERVICE COMPANY IN DEBRECEN: -
Views:452There are 11 larger fitness clubs in Debrecen, where group training also appears as a service. These fitness centers can be identified as the leading fitness providers in the city based on this services, their area size and their machine park. We performed an economic analysis of these fitness providers based on their annual report data. Finally, the data of the balance sheets and income statements of 9 fitness service providers were collected, with the help of these statements we analyzed the wealth, financial and income situation of the examined organizations. It can be stated that the balance sheet of the examined fitness clubs is in line with their profile, ie investments in real estate and machinery dominate, which can often be realized by relying on external sources. In this context, there is a risk of indebtedness, which calls the attention of these large fitness centers in Debrecen to take the necessary steps to improve both their profitability and financial stability in the future.
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Company analysis and comparison of the assets and short-term financial situations of Dreher Sörgyárak Zrt. and Heineken Hungária Sörgyárak Zrt. based on annual reports
Views:323Abstract
Hungarian brewing has a long tradition, which is why this iconic drink is so popular in our contemporary society. The topic of the following article is the company analysis and comparison of the assets and short-term financial situations of Dreher Sörgyárak Zrt. and Heineken Hungária Sörgyárak Zrt. based on annual reports because with this we can get an answer to the outstanding success of these companies. I collected the data necessary for the indicators for the last 5 years, so that I could get a fresh and comprehensive picture of the companies' operations.
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Examination of measures taken to achieve social sustainability
13-20Views:121The concept of sustainability is associated with Lester Russell Brown, founder of the Worldwatch Institute and the Earth Policy Institute, who mentioned the concept of sustainability in his 1981 book Building a Sustainable Society, which deals with the realization of a sustainable society. The concept of sustainable development was first formulated in the UN's Brundtland Report, Our Common Future, in 1987. The report defined sustainable development as taking into account environmental, social, and economic pillars and their interactions. Today, financial experts and investors place great emphasis on environmental, social, and corporate governance aspects in addition to financial performance when evaluating companies. By preparing and publishing sustainability reports, companies help stakeholders make informed decisions. In order to improve sustainability indicators, the decision-making bodies of the European Union support the publication of such documents and the extension of the obligation to prepare them to as wide a range of companies as possible. In November 2022, the European Parliament adopted the Corporate Sustainability Reporting Directive (CSRD). Various standards have been developed over the years to improve the quality of sustainability reports and to make companies' sustainability efforts more comparable. The data points of the European Sustainability Reporting Standards (ESRS) describe the information and data that must be disclosed in relation to a company's environmental, social, and governance sustainability issues, provided that the topic in question is considered material according to the reporting company's double materiality analysis. The study presents the points belonging to the social pillar of the ESRS, supported by examples from companies' published sustainability reports.
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Examination of the Net Profit during the transition to IFRS
Views:51The 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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DIGITALIZATION CHARACTERISTICS OF THE CONTROLLING AREA OF COMMERCIAL ENTERPRISES
49-59Views:359One of today’s most important social and economic phenomena is the fourth industrial revolution, the effect of which is that digitalization can significantly transform business processes. The corporate controlling area cannot avoid transformation either, its methods and tools will change. Just as controlling itself, its changes can also differ between sectors, especially in the extremely diverse service sector. The aim of the research is to examine, on a domestic sample, whether there are differences in this respect between companies with a main commercial activity and the rest of the service sector. The data of the questionnaire research conducted with 46 controllers and managers were evaluated by means of cross-tabulations, averages and statistical tests. There are no differences in the digital development of the key performance indicators that form the basis of controller work, in the use of ERP systems, automation solutions and language algorithms. In the commercial group of the sample, the use of business intelligence tools providing advanced planning and analysis options is significantly more common. The two groups of the sample do not differ in terms of the factors encouraging the digitalization of the controlling area, but the companies with a commercial main activity differ in terms of the importance of the factors hindering the process: they are more averse to new technologies, more afraid of their usual positions, but perceive the financial aspects of the development to be less important.
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Controlling Methods for SMEs’ Risk Reduction
23-30Views:288A substantial proportion of entrepreneurs strive to reduce the risk of their activity, which means they refer to a number of methods known, but rarely applied by them. Risk reduction activities can be totally interconnected with the ‘controlling’ approach and methods that are still not well known to a lot of company executives, but the introduction and application of those methods provide tangible results for business decision-makers within a relatively short period of time. The paper presents the size, activity, financial process characteristics, planning features, suppliers and buyers' evaluation practices of the investigated SMEs using correlation analysis methods. The study is a continuation of a research topic that has been going on for many years and is based on data collection from the years 2015 and 2016. We have evaluated the planning and management features of a total of 53 micro, small and medium-sized enterprises by questionnaire processing.
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The status and challenges of the digitalization of rural areas in Hungary
33-44Views:293The 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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COMPARATIVE ANALYSIS OF PERFORMANCE MEASUREMENT METHODS
Views:663Performance assessment - assessment of the financial and economic performance of companies - is of particular importance both in determining the performance of individual companies and in comparing companies. There are numerous different frameworks and different methods of performance assessment in the scientific literature and in business practice. With the expansion of globalisation and the emergence of a new economy, the focus on this topic is even more prominent. The aim of the present article is to review the literature on performance assessment and to describe two selected frameworks in more detail.
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ANALYSIS THE KNOWLEDGE OF DESTINATIONS IN ITS DIVIDING CONTEXT
8-12Views:411Territorial determination of the tourism development areas is crucial for professionals responsible for destination management. The direct motives are (1) the available financial development funds, (2) the expansion of tourism supra- and infrastructure, (3) the evolvement of destination image, however induced factors can be (1) the involvement of ancillary services or (2) using single communication. Main concern of the tourism supply is to provide sufficient information to the potential travellers, although the question arises how demand is able to follow the iterative changing in determinations. The fact that a narrower area is periodically associated with a different tourism development area and thus has different communication generates a degree of uncertainty in the tourists’ travel decision. Current article introduces a section of a research project for the assessment of the awareness of current tourism development areas by tourists. After the clarification of concepts paper details the results of pilot testing which makes foundation for a large-sample market research. Findings are instructive not just in terms of measurement correction, but for further considerations.