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The Introduction of IFRS at the Level of Individual Reports
140-143Views:135In recent years, there is a need for public limited companies registered in stock exchange not to do bookkeeping according to the Hungarian Accouni ng Act and prepare their annual reports in accordance with it. Instead of it, prepare consolidated annual fi nancial statements under IFRS. This could lead to a signifi cant reduci on of administrai ve burden, as management makes every business decision based on IFRS instead of the Hungarian Accouni ng Act; especially in cases
where the determinai on of the corporate income tax is based on fi nancial statements prepared in accordance with internai onal standards. -
The Examination of the Factors Influencing the Tween Segment’s Consumer Behaviour and Attitude towards Advertisements
31-46Views:137The importance and the relevance of the topic based on consumption psychology and advertising psychology can be approached from several aspects. The actors of business life managed to achieve that young people have become one of the most important target markets. Namely nowadays children and youngsters have been the most preferred target market, they are the future (consumers). Apart from this we live in a consumer society where goods are characteristically not only the tools of need fulfilment, but important influencing factors at the same time that form the basis of the formation of social status differences. In our present paper we examine that in 2015 in the web age how members of generation Z approach the subject of advertisements, what type of attitudes they have, and how these formulate their consumer behaviour or what are the motivating factors influencing nowadays’ teens when a customer decision is made. Hence our aim is to examine the consumer and media usage behaviour, the influencing factors, the motives, brand priority and attitudes towards advertisements of the tween segment living in Jász-Nagykun-Szolnok County.
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ESPORT IN HUNGARY: ORGANIZATIONS AND DEVELOPMENT OPPORTUNITIES
Views:560Eco Currently we witness the exciting period in life of the esports, which seems to have received considerable attention even among this extraordinary season caused by the COVID-19. Although referring to the status of games (way of sports), such as Fortnite, DOTA2, Overwatch, LOL, etc together with its competitions, competitors and its follow up became quite common, the profession so far seems to neglect dealing with the social and organizational background of that, also with the development possibilities. The methodology of this essay is, through secondary analysis made during the discussion of the professional literature, is empirical qualitative interview method, which was carried out among professional organizations, sportsmen, and by doing this we sought to answer the question: What is the current national state of this sport, what difficulties, prospects characterize even individuals and organizations in this sphere, also including social specifications. Results point out that numerous changes should be desirable equally from the organizational and social side.
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Agricultural Insurance Market a New Solution of Marketing and Environment Protection
125-133Views:117The agricultural mitigation fund operating deficit expanded in 2012 to a price support for agricultural insurance business helped construct. (Figure 1). The legislai on aims to provide a wide range of farmers’ risk community to organize and strengthen the aff ected self-care responsibility. The new extended two-level agricultural risk management system in 2012 and 2013 were not used in the full amount. Further disseminai on of this 2014 novel possibility of a major issue in the insurance market. We have to examine how market pari cipants are informed and how to better disseminate of marketing solutions?
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Financing SMEs – Prospects in Hungary
74-90Views:743After joining the EU, micro-, small- and medium-sized enterprises came to the focus of attention in Hungary for their grandiose role in both employment and producing added value. Due to their flexibility, creativity and adaptability SMEs find new market opportunities easier. Also, SMEs can find their way and seize appearing opportunities more quickly under rapidly changing, insecure and high-risk circumstances.When analysing the sector, besides the investigation of the external environment, it is also important to focus on internal factors. The success of businesses is not only influenced by their access to financial resources, but also by their internal organisational structure and the standard of their organisational culture. In the present phase of world economy, when
transports are delayed, credits are harder to obtain and companies downsize, leaders have to make careful and considerate management and operational decisions. Thus financial decisions have considerable short and long-term effects on the success of business operation.This research paper aims at a comprehensive study of the present situation of the Hungarian SME sector, some of its financing opportunities, as well as factors that hinder its development. Another purpose of the present writing is to lay the theoretical foundations for a primary questionnaire research exploring the financing characteristics of SMEs in Hungary. -
Educational Tourism: a Conceptual Framework
30-37Views:85Though educational tourism has already emerged in the early times in Europe, the theoretical analysis of educational tourism is relatively recent. The firts books on educational tourism were only published in 2003. In Hungary the weight of educational tourism is not hight - less then 1% of tourism arrivals and less than 4% of total tourism spending - but per capita spending is the highest among tourists arrivinh in Hungary with educational purposes. Surprisingly tourists arriving for longer than one day with an educational purpose had more than 100% higher spendig during the last couple of years than tourists arriving for more than one day with business purposes. Because this high spending educational tourism is very important for the towns, where foreign students pursue their studies. Not only foreign student mobility can be regarded as educational tourism but internal student movement as well. Students who live other towns and who come to a town to entrol at a university have important contribution to the economy of this town - just like the non-educational, traditional tourists to do.
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GAMIFICATION, AS A NEW STRATEGIC TOOL FOR HR
Views:780Globalization changed employee preferences, advances in technology, changes that make organizations face new challenges. Existing human resource management systems need to be reviewed or even new ones need to be created. “My hobby is my job, my job is my hobby,” says the saying, but how is it possible to attract a potential workforce and keep it afterward? Gamification is one of the possible answers of HR to this issue. Generation X, Y, and Z employees show significant differences compared to their predecessors, therefore innovative solutions are needed to maintain a long-term, productive, and loyal working relationship and satisfaction. The aim of this study was to explore the history of the development of gamification, the increase in its popularity, and its causes. After describing the methods of gamification, it presents the field of application of gamification based on domestic and international literature. Based on the research results, it can be concluded that well-applied gaming can be an effective solution in the fields of health preservation, education, learning, motivation, business, marketing, and human resource management.
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A comparative study of tourism Education on vocational level in Hungary and Finland
1-7Views:166The rapid growth of tourism in Hungary and the labour migration to abroad resulted in a serious labour shortage in the industry. One of the sources of skilled and motivated workforce is the system of tourism vocational education and training, which can just slowly react to market changes due to its inertness. In addition, the highly centralized system provides low-level of freedom to respond to regional differences, as the National Core Curriculum and its related regulatory documents are compulsory for the institutions and maintainers implementing them.
This paper seeks for possible solutions to the prevailing challenges by a comparative examination of the tourism VET system in Finland and Hungary. As a result the author propounds possible alternatives to develop secondary tourism education.
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The Eff ects of Crisis on Transport
38-49Views:47The global economic crisis, which started in 2008, has negati vely aff ected all sectors of the economy. Many businesses have gone bankrupt, including old, leading and successful companies but others have remained successful and have acquired a larger market share. Despite this many business owners have tried to enter the market with more or less success. This trend can also be observed in the fi eld of logisti cs and transportati on.
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GONDOLATOK FENNTARTHATÓSÁGI SZÁMVITELRŐL ÉS TÁRSADALMI FENNTARTHATÓSÁGRÓL
Views:119The political prominence of sustainability and the scientific prominence of sustainability accounting go back nearly 40 years. While initially providing sustainable operations (at the corporate, state, and global levels) was just an opportunity, nowadays more and more binding laws are issued both from individual nations and communities of nations, forcing citizens and business organizations to take action in this direction. This article goes one step back and seeks to illustrate some contradictions, problems and limitations inherent in basic contexts. After the general presentation of the topic, the focus of this study shifts to the aspect of social sustainability, and within it to the question of equality.
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Business Rhetoric - The Effectiveness of the Words of Manipulative Focus in Personal Selling
61-67Views:183On a daily basis we encounter hundreds of sales techniques which are based on the manipulation. Marketing advisors are looking for the most effective tools which lead the client into their preferred direction. In the US there are several studies about this topic. The results of experiments in the US may not be justified by people living in a different culture, such as the Hungarian people. The objective of this research is to examine the findings of the research conducted by the American Sherman-Crawford-McConnel on the basis of research carried out with Hungarian people almost 10 years later. The hypothesis is that rejection in the area of finance with the Hungarians is especially true, but the factor of regret will be less significant after the rejection, in contrast with the US research. The results of my research show that when it comes to financial matters, the technique of focusing on future regret is less effective with Hungarians over 40. This paper gives practical advice to those who want to sell financial products to Hungarian audiences.
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Examining the effectiveness of online marketing tools among anglers
68-82Views:59The use of online marketing tools has now become essential for businesses operating in the commercial sector. In order for businesses to increase their sales volume and brand value of their company, they need a continuous online presence while keeping up with current trends. High-quality, unique content captures the attention of consumers, who later become regular followers of the business not only online, but their personal presence can also be strengthened in physical stores. Using questionnaire research, I assessed the effectiveness of online marketing tools among anglers.
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Controlling Methods for SMEs’ Risk Reduction
23-30Views:133A 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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DOES THE NOTES TO THE FINANCIAL STATEMENT HELP IN MAKING DECISIONS?
Views:213Available information influences decisions; improperly selected, incomplete, distorted information might provide a misleading picture and lead to bad decisions. Businesses can obtain decision support information about their external market actors primarily through data obtained from their annual statement. Consequently, the notes to the financial statement, which is intended to ensure the sound and real financial and profitability position of the enterprise, is one of the main sources of information. The research goal was to assess the extent to which business managers and economic professionals are supported by information from the notes of their partner companies.
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COMPARATIVE ANALYSIS OF PERFORMANCE MEASUREMENT METHODS
Views:465Performance 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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The interrelationship between the factors influencing retail selection behavior and FMCG market network
77-82Views:192From the consumer behaviour perspective the role of retail selection have a salient importance. Hence in the case of FMCG markets network development as a key area of store chains’ distribution systems is a substantial tool in competition for customers. In our paper we investigate the main network development influencing factors in the case of main store chains is Hungary. We also detail the relationship between the size and the change of store chains and the consumer store choice, possibilities, and the freedom-level of decision making
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The Applicability of Controlling at the SMEs in the Construction Industry
351-358Views:105This model was created mainly for those SMEs from the building industry which have such industrial specialties like low capitalization and tight liquidity. Due to these factors the fast management information system and the focus on operational and financial issues are essential. Based on the facts mentioned above I have tried to provide a technical assistance for the owners/CEOs of these SMEs. Although they have no controlling department they need the fast information flow to support their business processes and to base their decisions aiming for a profitable operation and a sustainable liquidity.
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The impact of freedom ensured by the accounting principles on a realistic assessment of economic management processes
51-59Views:117The information system of accounting serves as a constant source of information to entrepreneurs concerning the state of their assets, financial and profitability conditions. By fulfilling their reporting commitments and ensuring public accessibility the business environment can also draw on this source. In order to operate the single system the fundamental rules are set by the Act on Accounting. The core principle of the regulation prescribes the keeping of such a registration system and the application of such asset and resource evaluation rules which can help entrepreneurs to form realistic and reliable picture of their asset situation. In reality, accounting cannot be applied isolated from the environment; the special features must assert themselves in registration, asset evaluation and the income and financial processes alike. Because of the differing market and other conditions – and specifically in order to achieve the basic objective of the Act – flexibility must be ensured. To facilitate adaptation to the environment the Act on Accounting defines only principles and within their framework ensures a certain level of freedom for the entrepreneurs. The formulation of internal rules takes place through the accounting policy which must be worked out by everyone affected. A primary goal of the auditing procedure is to check whether the entrepreneurs have made correct use of the opportunities or bent them according to their needs falsifying the figures in their reports.
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ECONOMIC ANALYSIS OF THE TOP 9 FITNESS SERVICE COMPANY IN DEBRECEN: -
Views:296There 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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A PÉNZÜGYI KULTÚRA ÉS TUDATOSSÁG MEGHATÁROZÁSA ÉS MAGYARORSZÁGI HELYZETE
Views:1314In our today's modern society, the ability to handle economic and financial issues is becoming increasingly important. This is true for investment and banking professionals, but it is true for everyone who has to make responsible decisions in their daily lives, including young adults. The ability to make a good decision is commonly referred to as economic competence, economic literacy, or financial literacy. Defining and measuring financial literacy has long been cared by private, business and public institutions and organizations, both nationally and internationally. Financial education has already started in Hungary, in different sectors, with different actors. The education and upbringing have an undisputed role of in this, in my view, the younger we start it, the more effective it is. In this study, we review the possible definition of the concept of financial literacy, the status in Hungary and the development path.
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Examination of the Notes to the financial statement through the example of enterprises engaged in sports activities
61-66Views:212In the globalized and accelerated world of our time, it is essential that enterprises have up-to-date information. Only a company that is in possession of the necessary information is able to meet the challenges of business life. One source of public information might be the annual statement prepared and published in accordance with the stipulations of Act C of 2000. The annual statement consists of three parts: the balance sheet, the profit and loss account and the notes to the financial statement. The text-based information of the notes to the financial statement are for the more accurate interpretation of numerical data. The notes to the financial statement of certain market participants (consumers, suppliers, competitors, etc.) might support efficient operation of companies, their proper decision-making and risk assessment. In present study, the notes to the financial statement of companies identifying sports activities (Hungarian NACE 931) as their primary activity were utilized. By means of text mining, it was examined what information these notes to the financial statement include from amongst the mandatory information required by the Accounting Act.
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An Agro-Economic Investment of Apple Orchards in Vojvodina
108-117Views:92There is a big tradition of apple producing in Bácskertes (Vojvodina, Serbia), but this cannot be declared for the intensive production. I have chosen the economic investments of the intensive apple plantation as the topic of my thesis, because of the later profitability of our family business that deals with apple producing as well. The establishment of the intensive apple plantation is the most extensive investment among the fruit types the return of which depends on several factors. In my thesis I deal with the economies of a plantation planted with the help of investment support. I carried out the research with the help of the producers’ data and special literature. In addition to it I did some research about the customers’ needs in the nearest market. As regards profitability I examined the plantation in the following respects: the NPV (Net Present Value), IRR (Internal Rate of Return), DPB (Dynamic Payback Period), and PI (Profitable Index).
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VALUATION AND APPEARANCE OF HUMAN RESOURCES IN CORPORATE ASSETS
24-31Views:87A significant part of the value of a company is represented by intangible resources, which can be referred to under various names in the scientific literature (e.g. intellectual capital, intangible assets, knowledge capital, etc.). In the scope of the present study, the importance of valuing human resources and possible valuation methods are presented. Human resource accounting is mentioned in a number of academic works, but no unified definition has emerged for describing the term. The human value added model is also discussed, which provides the adjusted value of the company by adding the human assets to the assets side of the balance sheet and the human capital with the related future payment obligations of the employees to the liabilities side. Expert suggestions are also presented, according to which human assets should also be depreciated by means of a certain method or revalued at regular intervals. The provisions of the International Financial Reporting Standards (IFRS) are mentioned, as IFRS also regulate the recognition of future employee expenses and the recognition of internally generated intangible assets and intangible assets acquired in business combinations.
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REPORTING IN INDUSTRIAL 4.0 - ETHICS & EFFICIENCY
42-50Views:398Entering the digital age, business conditions have changed. The social and economic effects of Industry 4.0 surround humanity. Systems that work together in the cyber-physical space move companies and create value. Naturally, the management wants to evaluate these processes and wants to see reports about them. New times, new winds, that is, the activities of a company based on digital technology require a new kind of reporting technique and methodology. The study briefly introduces the tools we use for this purpose. These tools (methods) also raise a number of ethical issues, while controlling and reporting must also meet the pressure of efficiency, that is, we have to increase the efficiency of reporting.
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Investigation of consumer behavior in social media in the handball
55-65Views:54Social media exploded onto the scene roughly two decades ago, revolutionising the way we think about marketing communication and the way we think about information delivery. It has opened doors that were unprecedented. It can also be profitable for sports companies if they can deliver effective marketing communications to their existing and potential customers. To be effective in this environment, it is important to analyse consumer behaviour to identify the real needs of users and to meet those needs. We used an online questionnaire to assess the consumer needs of our respondents and the social media market from a marketing perspective. We conducted a handball specific research, excluding individuals who do not follow handball at any level from the study sample. We also looked at age differences, and device usage. Given our results, it can be stated that thorough market research is important for effective marketing communication by a handball club on different social media platforms.