This study was conducted to determine the value added by Income-Generating Activities （IGAs） on the financial performance of public secondary schools, in terms of assets, liability portfolio, and net worth. Secondar...This study was conducted to determine the value added by Income-Generating Activities （IGAs） on the financial performance of public secondary schools, in terms of assets, liability portfolio, and net worth. Secondary school managers have the gigantic task of balancing meager resources between subsistence and development needs as well as good performance in national examinations. However, macro-economic shocks such as inflation, fuel shortage, and crop failure, among others, often militate against the success of public schools. School-based IGAs enable public schools to cope with external economic shocks, without necessarily passing down budgetary adjustments to parents. However, the country lacks a clear policy guideline to facilitate the initiation, management, accounting, reviewing, and financial reporting of IGA projects. Besides, there is no documented information regarding the value added by IGA initiatives to the financial performance of public secondary schools. The study found that IGA and non-IGA schools were significantly different in terms of category, student population, age, annual income, and number of paid workers. Schools having IGAs were 1.9 times more likely to own as many assets as schools not having IGAs. Besides, IGA schools were about 2.2 times less likely to have their liability in excess of the median threshold. Regarding net worth, the study found that schools having IGAs were about 2.1 times more likely to be operating above the median threshold; suggesting that schools having IGAs were wealthier than non-IGA schools. Based on the findings, this study concludes that IGA projects were beneficial to schools by improving the ability of schools to accumulate assets and manage their liabilities. The study recommends the need to： formulate an appropriate policy framework to guide and standardize IGA activities; initiate suitable training programs for school IGA managers; as well as engage business development managers to advice schools on IGA matters.展开更多
Small and medium-sized companies in most EU countries form a considerable share in the total number of companies and are also an important development impeller of the entire economy. Therefore, one of the most essenti...Small and medium-sized companies in most EU countries form a considerable share in the total number of companies and are also an important development impeller of the entire economy. Therefore, one of the most essential goals of accounting authorities in the EU is accomplishing the harmonization of accounting regulations for these companies. In this paper, the author have discussed and explained the main motifs and impediments for this harmonization. One of the main motifs is a big span and complexity of international standards of financial reports which is allowed and even prescribed in many countries. Some of the main impediments are a lack of uniformity as far as criteria for classification of small and medium-sized companies according to size are concerned as well as the determining of limitations up to which the requirements in accounting standards for small and medium-sized companies should be set.展开更多
The development of accounting systems is influenced by socio-economic characteristics at each stage. The paper explores the impact of the characteristics of political institutions at every stage in the development of ...The development of accounting systems is influenced by socio-economic characteristics at each stage. The paper explores the impact of the characteristics of political institutions at every stage in the development of social economy, which determines the objects using accounting information, as well as the legal accounting system issued so that accounting can meet the demand for accounting information of these objects in Vietnam from 1975 to the present. Based on studies by authors in this period as well as issued accounting documents system, this paper aims to point out the formation and development process of Vietnam accounting system, providing researchers and elaborating agencies with a basis for determining the right development direction of Vietnam accounting in the coming time.展开更多
文摘This study was conducted to determine the value added by Income-Generating Activities （IGAs） on the financial performance of public secondary schools, in terms of assets, liability portfolio, and net worth. Secondary school managers have the gigantic task of balancing meager resources between subsistence and development needs as well as good performance in national examinations. However, macro-economic shocks such as inflation, fuel shortage, and crop failure, among others, often militate against the success of public schools. School-based IGAs enable public schools to cope with external economic shocks, without necessarily passing down budgetary adjustments to parents. However, the country lacks a clear policy guideline to facilitate the initiation, management, accounting, reviewing, and financial reporting of IGA projects. Besides, there is no documented information regarding the value added by IGA initiatives to the financial performance of public secondary schools. The study found that IGA and non-IGA schools were significantly different in terms of category, student population, age, annual income, and number of paid workers. Schools having IGAs were 1.9 times more likely to own as many assets as schools not having IGAs. Besides, IGA schools were about 2.2 times less likely to have their liability in excess of the median threshold. Regarding net worth, the study found that schools having IGAs were about 2.1 times more likely to be operating above the median threshold; suggesting that schools having IGAs were wealthier than non-IGA schools. Based on the findings, this study concludes that IGA projects were beneficial to schools by improving the ability of schools to accumulate assets and manage their liabilities. The study recommends the need to： formulate an appropriate policy framework to guide and standardize IGA activities; initiate suitable training programs for school IGA managers; as well as engage business development managers to advice schools on IGA matters.
文摘Small and medium-sized companies in most EU countries form a considerable share in the total number of companies and are also an important development impeller of the entire economy. Therefore, one of the most essential goals of accounting authorities in the EU is accomplishing the harmonization of accounting regulations for these companies. In this paper, the author have discussed and explained the main motifs and impediments for this harmonization. One of the main motifs is a big span and complexity of international standards of financial reports which is allowed and even prescribed in many countries. Some of the main impediments are a lack of uniformity as far as criteria for classification of small and medium-sized companies according to size are concerned as well as the determining of limitations up to which the requirements in accounting standards for small and medium-sized companies should be set.
文摘The development of accounting systems is influenced by socio-economic characteristics at each stage. The paper explores the impact of the characteristics of political institutions at every stage in the development of social economy, which determines the objects using accounting information, as well as the legal accounting system issued so that accounting can meet the demand for accounting information of these objects in Vietnam from 1975 to the present. Based on studies by authors in this period as well as issued accounting documents system, this paper aims to point out the formation and development process of Vietnam accounting system, providing researchers and elaborating agencies with a basis for determining the right development direction of Vietnam accounting in the coming time.
