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• REPORTING IN INDUSTRIAL 4.0 - ETHICS & EFFICIENCY

  42-50

  Károly Szóka

  Views:

  401

  Entering 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.

• VALUATION AND APPEARANCE OF HUMAN RESOURCES IN CORPORATE ASSETS

  24-31

  Angelika Dienes

  Views:

  95

  A 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.

   

• The impact of freedom ensured by the accounting principles on a realistic assessment of economic management processes

  51-59

  Imre Túróczi

  Views:

  120

  The 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.

• Analysis of practice of sustainability reports

  43-52

  Edina Kulcsár

  Views:

  139

  The 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.

• The Introduction of IFRS at the Level of Individual Reports

  140-143

  János Lukács

  Zoltán Zéman

  Views:

  138

  In 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.

• Subsequent measurement models according to ifrs in bux index comapnies

  69-77

  Mirjam Hamad

  Views:

  63

  The 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.

• ACCRUAL BASIS OF ACCOUNTING IN THE HUNGARIAN ACCOUNTING LAW COMPARED TO USGAAP AND IFRS

  Elvira

  Views:

  151

  The aim of the article is to illustrate the impact of the application of the accrual basis of accounting and matching principle in the financial statements of entities regardless of the accounting system used. The accounting for accruals in different accounting regulations is briefly presented in the paper; in accordance with the Hungarian Accounting Act, US GAAP, and International Financial Reporting Standards (IFRS).

• Controller szerepkör és szaktudás változása az Ipar 4.0 hatására

  Brigitta Kovács

  Views:

  567

  The aim of my publication is to introduce the foundation and development of controller’s role in respect to the recent changes in the last 10 years due to implementation of Industry 4.0. This is connected to the exponential development of information technology, what made possible to store, proceed and analyze much more data (Big Data) than ever before. The new business information (BI) systems help reporting and analysis processes with interactive dashboard-based reports. New possibilities opened also in forecasting, due to more available data and higher computer capacities, where forecasting algorithms can be run rapidly and so more frequently, and more accurate forecasts can be prepared. The changes of course influence the requested professional skills and the role of the controllers in the companies, what I demonstrate in more details in my paper. At the end of my publication, I introduce the results of my empirical questioner based research about requested IT knowledge of controllers and their connection with automatization of company’s controlling processes.