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The Measurement of Costs and Results in Supply Chain Management: The Case of Poland

Abstract

Supply chain management (SCM) is a modern phenomenon in business practice and an important area of scientific discussions. In the literature it is not easy to find only one explanation of this subject because some scientists treat SCM as a separate concept, others as an expansion of the logistics function. The supply chain is a kind of modern business model that needs accurate management. To support the management process an the effective way, management accounting tools and methods may be applied. The aim of the article is to present the methods and tools of management accounting used for the measurement of costs and results in SCM. For this purpose, a survey was conducted among 40 selected enterprises in Poland. The findings indicate that on the one hand the studied organizations already use advanced management accounting tools and the methods providing information for SCM needs, on the other hand, they rarely apply them. This approach does not contribute to effective and holistic measurement of supply chain and its management.

Open access
The Relationship between Reserves and Accruals – With Reference to the Issue of Earnings Management in Public Companies

Abstract

The main objective of the study is to examine the relationship between the implemented reserves policy and the value of accruals reported in the financial statements of public companies listed on the Warsaw Stock Exchange. Both research fields are considered as the main areas of earnings management, which can be seen both as the pursuance of a true and fair view of the economic situation of a business entity and as the intentional manipulation of the results of an economic activity in order to mislead selected stakeholders of company. Empirical studies were conducted among public companies included in the WIG20, mWIG40 and sWIG80 stock indices, whose shares have been traded on the stock market for at least 10 years in the assumed horizon of 1997-2016.

Open access
The Relationship between Service Quality Dimensions and Brand Equity: Higher Education Students’ Perceptions

Abstract

Purpose: Since the higher education environment has become highly competitive, the application of marketing principles to the education environment becomes increasingly evident. In order to attract new students and continue business, the institutional brand also gains on importance. Considering the scant literature on the influence of the perceptions of service quality dimensions on brand equity in general and higher education in particular, this exploratory study seeks to determine whether the SERVPERF dimensions of service quality make significant influencers of the overall brand equity of select (South African) universities, and whether the overall service quality significantly influences the overall brand equity.

Design: The authors conducted a survey among a judgmental sample of 400 students from two selected university campuses, using the SERVPERF scale. The data were analyzed with inferential statistical methods, such as multiple regression analysis, with the help of SPSS.

Findings: Tangibles and Empathy were significant and positive influencers of the students’ perception of the institutions’ overall brand equity and the overall service quality as a significant predictor of the overall brand equity. It also became evident that the overall service quality has a significant and positive influence on the overall brand equity when it comes to the students’ perceptions of the surveyed universities.

Implications: Tangibles and Empathy must be closely monitored and carefully managed, while the important role that service quality plays in the overall sense in increasing brand equity perceptions implies that – in the branding efforts of higher education institutions – management and leadership should pay particular attention to offering high levels of service quality to increase the value of their brands.

Research limitations: Only two campuses from one public higher education institution in South Africa was included in the survey, thus any generalization of the research findings must be circumspect.

Originality/value: Management and leadership of higher education institutions must know the service quality dimensions which promote the brand of the institution and manage them to promote a positive image of the institution since these are the dimensions of quality emphasized by the students.

Open access
Structure of the Passive Side of a Bank’s Balance Sheet Versus the Pari Passu and No-Creditor-Worse-Off Rules

Abstract

The passive side of a bank’s balance sheet is characterized by considerable variety. Additionally, the intention of the supervisors is that the bank losses are covered according to a specific order, which foresees that the owners are the first to be exposed, followed by the creditors (but some of the bank’s liabilities are essential for the continuation of the operations and it is not recommended that they are redeemed or converted into shares). The sequence of covering losses expected in the supervisory regulations is often inconsistent with the order resulting from the hierarchy of claims established in the bankruptcy law. In such a situation, implementing actions involving the write-down or conversion into shares of subsequent categories of debt may entail breaking the basic principles of bankruptcy and resolution law: the pari passu and no-creditor-worse-off rules. The purpose of the article is to identify situations in which the indicated rules are breached, as well as to review and evaluate national solutions that have been implemented to ensure compliance with the above mentioned rules. To this end, the relationship between the structure of the passive side of the bank balance sheet, supervisory regulations in the area of capital adequacy and the resolution principles were analyzed. As a result, four situations have been identified where there is a risk of breaking the already mentioned rules. The review of national solutions implemented to address the problem suggests that they lead mainly to its shift to the next category in the claims’ hierarchy, but does not eliminate it. A similar effect is also provided by the amendment of the BRR Directive, which aims mainly to harmonize solutions introduced at national level.

Open access
Annual Financial Statements, the Importance of Other Comprehensive Income

Abstract

The objective of the research was to verify whether the financial information presented in other comprehensive income has a material impact on the statement of total comprehensive income and financial statements viewed as a whole. The research focused primarily on the presentation requirements defined by the International Accounting Standard IAS 1 Presentation of Financial Statements and study of the annual reports filed in 2014-2016 by the WIG 20 constituent companies listed on the Warsaw Stock Exchange. In order to assess whether the impact of the financial information reported in other comprehensive income is material, relevant concepts of materiality were applied. It was tentatively assumed that the financial information presented in other comprehensive statement will be material. The results of the conducted research study confirmed in general this assumption.

Open access
A Case Study of Supply Chain Management in a Manufacturing Company in China

Abstract

How to manage inventory is becoming an increasingly crucial issue for most manufacturing companies. R&D, the pseudonymous case study considered here, is a foreign direct investment (FDI) company engaged in producing electronic components. As the prices of raw materials and operation costs increased, R&D was challenged to maintain a smooth relationship among several factors: level of inventory, customer satisfaction and production efficiency. This paper first discusses the key factors that affect R&D’s inventory level. It then combines recent supply chain management theories and quantitative data into a framework for identifying how R&D might determine optimal ordering policies and strategies to reduce overall costs, while at the same time satisfying customers in terms of service.

Open access
Comparison of Investment Performance Measures Using the Example of Selected Stock Exchanges

Abstract

In this paper the main objective is to examine whether the selection of the performance measure influences the evaluation of individual investments and the performance rankings generated on that basis. This study presents the values of 16 performance indicators along with their detailed descriptions. All calculations were made using the R program, and the source code can be found at the end of the article. Nine selected stock indices were analysed during the period January 1997–December 2015, and the monthly logarithmic rates of return for these indices were calculated. For 14 out of the 16 measures analysed it was shown that the choice of effectiveness measure had no influence on the evaluation of individual investments; therefore it is not important whether the investor uses the Sharpe ratio or the Calmar ratio as an indicator of efficiency since both measures are almost identical in rank for a particular investment. This has not been confirmed for the Upside Potential ratio, which means that using this indicator may lead to different investment decisions in which the objective is to maximize efficiency. Moreover, based on the analysis it was found that the OMXC 20, DAX 30, and OMXS 30 indexes had the highest efficiency during the period January 1997–December 2015, while the AEX, WIG 20, and PSI 20 indexes were characterized with having the lowest levels of efficiency.

Open access
The Convergence of Financial and Management Accounting in Poland

Abstract

The aim of this article is to present the results of a study on the convergence of financial accounting and management accounting in companies operating in Poland against the background of international solutions. The survey, carried out in 2017, was used to collect data. Based on the questionnaire returned by 40 companies, it was found that the level of convergence of financial accounting and management accounting in Polish enterprises is moderate. The number of worldwide studies on the convergence of accounting is very limited, and in Poland they are quite unique. For this reason, the study presented in this article is relevant both for science and the practice of accounting.

Open access
The Educational Role of the Accountants Association in Poland (AAP) After the Deregulating of the Profession

Abstract

Due to the commonly perceived need to specialize in one professional activity, the role of education is increasing. This includes accounting specializations which are important as professions of public trust. In connection with such expectations, the role of education among professional groups of accounting professionals at all levels is increasing. The article presents the educational requirements for the professional specialization on accounting against the IFAC International Education Standards and in the context of the deregulation of the accountancy professions in Poland. As a solution to the problems of appropriate education, the role of the Accountants Association in Poland (AAP) was pointed out, based on the courses provided by it, aimed at not only improving the qualifications of the individuals who are involved in accounting professionally, but also on the supporting ethics. The courses taught were analyzed in across-section of their participants in the years 2013-2016. The method adopted to achieve the intended purpose was the analysis of the available literature, the laws in force and the sources provided by the AAP. On the basis of the research, it was found that despite the absence of mandatory professional certification for accounting and bookkeeping, the professionals in this area do see the need for continuous education and take diverse action to raise the quality of the services they provide.

Open access
Estimating R&D Returns In Health Care Industry

Abstract

Purpose: This paper provides an empirical evaluation of R&D returns for a series of global companies who lead in innovation within the health care industry.

Methodology: The estimation procedure bases on two specifications: the parametric production function setting, and finite distributed lag model (FDL).

Findings: Using the most recent data on R&D investment by health care equipment and services along pharmaceuticals and biotechnology companies, we confirm the positive albeit mitigated impact of R&D efforts on performance indicators (levels of sales). Moreover, we comment on the current phenomena observed in health care industry and offer a policy view for ongoing and future challenges in the sector.

Added value: Since there is a dearth of recent empirical evidence on R&D returns in the broad health industry, this paper offers the evaluation of economic incentives for companies to invest in R&D. These incentives embrace the induced increase in sales and profits levels. The authors participate in a public debate concerning the optimal levels of R&D rewards required to sustain the innovation within the sector.

Open access