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The Issues of the Management of Receivables: Lithuanian Case

finansiniams rodikliams analizė. Jaunųjų mokslininkų darbai, 1(17), 138-149. Lamminmaki, D., & Leitch, P. (2011). Refining Measures to Improve Performance Measurement of the Accounts Receivable Collection Function. JAMAR, 9(2), 1-20. Lithuanian Department of Statistics (2016). Statistinių rodiklių analizė. Accessed [15.01.2016]. Available from Internet: http://osp.stat.gov.lt/ Liu, Y., & Rosenberg, C. B. (2013). Legal and European Department; Dealing with private debt distress in the wake of the European financial crisis. IMF

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Possibilities for Financial Technology Sector Development and its Impact on Banking Sector Profitability in Lithuania

_FINANCIALTECHNOLOGIES_EFFECT_ON_FINANCIAL_SERVICES_FROM_AN_OPEN_INNOVATION_PERSPECTIVE Frame, W. S., & White, J. L. (2002). Empirical Studies of Financial Innovation: Lots of Talk, Little Action?: Working paper. Federal reserve bank of Atlanta. Gimpel, H., & Röglinger, M. (2015). Digital Transformation: Changes and Chances – Insights based on an Empirical Study. Fraunhofer Institute for Applied Information Technology. Invest Lietuva, (2017). Lithuanian Fintech Report 2017. [Accessed 24.05.2018] Available from Internet: https

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Occupational Standards: A Key to Improving Match Between Skills and Labour Market Needs in Lithuania

References Andriušaitienė, D., Gurskienė, O., Laužackas, R., Pukelis, K, Spūdytė, I., & Tūtlys, V. (2008a). Lietuvos kvalifikacijų sistemos metodologija: monografija [Methodology of Lithuanian Qualifications System: Monograph]. Vilnius: Agora, p. 239. Andriušaitienė, D., Navickas, A., & Tūtlys, V. (2008b). Nacionalinių profesinių standartų kvalifikacijų aprobavimas veiklos ir profesinio rengimo sistemose [Approval of qualifications of national occupational standards in activity and vocational education and training systems]. Lietuvos darbo rinkos

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Legal Aspects of the Implementation of European Union’s Common Commercial Policy: Lithuanian Experience and Practice

-293/97 and T-147/99 Kaufring and Others v Commission, 2001 E.C.R. II-01337. Law of the Republic of Lithuania on the ratification of Agreement founding World Trade Organization and its Annexes (2001). Official Gazette, 46 (1620). Law of the Republic of Lithuania on the ratification of Harmonized Commodity Description and Coding System Convention (2001). Official Gazette, 61 (2772). Law on Customs of the Republic of Lithuania (2004). Official Gazette, 73 (2517). Leal-Arcas, R. (2008). Theory and Practice

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Problems of 14–18 Years Old Youth and the Trends of Organisation of Prevention Activities: Lithuanian Case

prevencinės programos. Tarptautinėje praktikoje taikomos prevencinės programos ataskaita [Preventive programs implemented in Lithuania. The report on the preventive programs which are applied in international practice]. Vilnius: Specialiosios pedagogikos ir psichologijos centras. Available from Internet: http://www.sppc.lt/index.php?1767916592. Auškelis, R., Bieliūnė, S., Ignatavičienė, K., Stupurienė, V., Šiautkulis, R., Valantiejienė, S. (2016). Prevencinių programų įgyvendinimas Lietuvos bendrojo ugdymo mokyklose 2015-2016 mokslo metais [Implementation of

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The Evaluation of Trade Credit Insurance in Lithuanian Business Market as a Credit Risk Management Tool

Abstract

In today’s trade, the vast majority of commercial transactions in both domestic and international trade are concluded by applying trade credit terms. The aim of this article is to analyse the trade credit insurance and, according to the methodology, to evaluate it as a credit risk management tool in the context of Lithuanian business market. The authors have proposed a methodology that combines theoretical and practical research methods. First of all, with assistance of qualitative analysis, the alternative external credit risk management tools were examined. Such analysis allows not only to identify the advantages, disadvantages and benefits of researched risk management tools but also to assess the efficiency and rationality of trade credit insurance in the context of alternative methods. In order to carry out an assessment in the practical aspect, considering the lack of statistical data, it was decided additionally to perform an expert evaluation. After performing an assessment of trade credit insurance, it was concluded that in international trade, with a large buyer portfolio and high sales volume, the trade credit insurance becomes the most effective and rational way to manage credit risk, which eliminates the losses because of the debtor’s insolvency or bankruptcy, manages countries and sector’s risks and helps to discipline the debtor, what determines the decline in overdue accounts frequencies, amounts and volumes.

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Determination of the Value of Intangible Assets in the Companies of Lithuania

Abstract

In accordance with generally accepted accounting standards, most intangibles are not accounted for and not reflected in the traditional financial accounting. For this reason, most companies account intangible assets (IAs) as expenses. In the research, 57 sub-elements of IAs were applied, which are grouped into eight main elements of IAs. The classification of IAs consists in two parts of assets: accounting and non-accounting. This classification can be successfully applied in different branches of enterprises, to expand and supplement the theoretical and practical concepts of the company's financial management. The article proposes to evaluate not only the value of financial information for IAs (accounted) but also the value of non-financial information for IAs (non-accounted), thus revealing the true value of IAs that is available to the companies of Lithuania. It names a value of general IAs. The results of the research confirmed the IA valuation methodology, which allows companies to calculate the fair value of an IA. The obtained extended IAs valuation information may be valuable to both the owners of the company and investors, as this value plays an important practical role in assessing the impact of IAs on the market value of companies.

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Are the EU Member States Ready for the New Union Customs Code: Emerging Legal Issues On the National Level

. Council Regulation (EEC) No 2658/87 on the tariff and statistical nomenclature and on the Common Customs Tariff (1987). Official Journal, L 256. Customs Department under the Ministry of Finance of the Republic of Lithuania. (2017). Lietuvos muitinės veiklos 2016 metų veiklos ataskaita [Annual report on the activity of Lithuanian customs in the year 2016]. [Accessed 17.04.2017]. Available from Internet: http://www.cust.lt/mport/failai/veikla/ataskaitos/2016_Ataskaita.pdf Edward, D., Lane, R. (2013). Edward and Lane on European Union Law

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Evaluation of Digital Shadow Economy Prevention Measures

, Y. (2008). Revisiting the role of web assurance seals in business-to-consumer electronic commerce. Decision Support Systems, 44 (4), 1000-1015. Lithuanian Free Market Institute (2014). Lietuvos seseline ekonomika. [Accessed 12.01.2016]. Available from Internet: http://files.lrinka.lt/Seseline_ekonomika/LSE3.pdf Manolas, G., Rontos, K., Sfakianakis, G., Vavouras, I. (2013). The Determinants of the Shadow Economy: The Case of Greece. International Journal of Criminology and Sociological Theory, 6 (1), 1036

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