Gordana Radosavljević
Jovana Golo
Jatinder P. Singh and Prince Doliya
In this article, the hypotheses „whether the auditor’s functional domain, his approach, methodology and responsibilities are undergoing a metamorphosis with the adoption of Fair Value Accounting (hereinafter the „FVA”) and whether his/her role is moving away from the mechanized att ester of tangible evidence to the one exercising a substantively judgmental function in a holistic assessment of the values ascribed to be fair by the entity’s management” are tested. These hypotheses are tested on the basis of an analysis of the statutory provisions, the pronouncements of accounting and other regulatory bodies and accounting norms and theories. After sett ing forth the research objectives and the hypotheses, the necessity of the FVA is reviewed and the underlying philosophy is analyzed. Impediments in performing audits of fair-valuebased measurements are then identifi ed and the US auditing standards and their international counterparts are touched upon. Finally, some safeguards and precautions for the auditor in an audit of fair-value measurements are presented.
Miroslav Todorović, Đorđe Kaličanin i Aleksandra Nojković
Danas je u upotrebi veliki broj akronima poput EBIT (poslovni dobitak pre kamate i poreza), EBITDA (poslovni dobitak pre kamate, poreza i amortizacije), ROIC (stopa prinosa na investirani kapital), NPV (neto sadašnja vrednost), EVA (dodata ekonomska vrednost), IRR (interna stopa prinosa), ROE (stopa prinosa na sopstveni kapital), ROA (stopa prinosa na ukupna sredstva) i drugi, koji označavaju različita merila performansi. U praksi, menadžeri ne mogu i ne žele da primenjuju sva moguća merila, a izbor merila ne počiva nužno na njihovim teorijskim prednostima i nedostacima. U cilju istraživanja prakse u Republici Srbiji anketirali smo fi nansijske menadžere 64 preduzeća. Značajno više se koriste merila zasnovana na diskontovanim novčanim tokovima, nego tradicionalna merila investicionog odlučivanja, i to najviše indeks rentabilnosti, praćen sa IRR i NPV. Period povraćaja se i dalje često koristi. Merila performansi preduzeća zasnovana na računovodstvenom dobitku i dalje su ubedljivo najzastupljenija. Ipak, prisustvo EVA i Balanced Scorecard (BSC) nije zanemarljivo, a velika preduzeća ih koriste značajno više od malih. Orijentacija ka tim merilima raste i sa stepenom internacionalizacije preduzeća. Na kraju, preduzeća koja koriste sofi sticirana merila investicionog odlučivanja sklonija su da istovremeno koriste i sofi sticirana merila performansi preduzeća.
Fang Ying1 and Zhao Wen-ping2
In recent years, the worsening of the quality of the air has urged more people to att ach great importance to circular economy. Shaanxi, abundant in natural resources, maintained the GDP growth rate of 14.9% during the period of the twelfth fi ve-year plan. However, the fast economic growth under the extensive traditional economic growth mode renders Shaanxi inadequate in resources supply and noticeably worse in ecological environment issues. With the method of the IPAT equation, this paper quantitatively analyzes the developmental stage and the developmental level of the circular economy of Shaanxi to cover the shortage of the previous studies having only been focused on the policy study and the practice mode. The result shows that Shaanxi is in the intermediate stage of circular economy and the advanced stage has an apparent advantage over the intermediate one by comparing their energy consumption and solid pollutant discharge. The development experience of Shaanxi, a typical province of China, has guidance and reference signifi cance to China and other developing countries.
Vladimir Mićić
U radu se analiziraju industrijalizacija i strukturne promene koje ona izaziva, a koje su glavni pokretači i nosioci održivog ekonomskog razvoja. Ukazuje se da je industrija Republike Srbije (RS) devastirana, usled nagle i prevremene tercijarizacije, kao i neadekvatnih reformi. Postojeća struktura privrede i industrije nisu u stanju da obezbede održiv ekonomski razvoj. Shodno tome, cilj istraživanja je da se ukaže na značaj sprovođenja ponovne industrijalizacije i strukturnih promena u RS. Polazeći od stava da je industrija pokretač i nosilac ekonomskog rasta i razvoja, u radu se ukazuje na to da je u RS neophodno sprovesti ponovnu industrijalizaciju i strukturne promene industrije, s obzirom na to da su nivo razvoja i konkurentnost industrije u korelaciji sa intenzitetom industrijalizacije. Rezultati istraživanja ukazuju na to da razvijenije industrijske zemlje imaju efi kasnije strukturne promene i propulzivniju proizvodnju, koja stvara veću dodatu vrednost. Pored nivoa industrijskog razvoja, to se odražava na dostignuti nivo konkurentnosti, obim i kvalitet izvoza.
Fan Xiufeng, Liu Bolong and Liu Qiong
This article is based on the years from 1991 to 2012 of the nine categories of the provincial pollutant discharge indexes of China, uses the „vertical and horizontal method“ to calculate the comprehensive indexes that can fully measure the provincial pollutant discharge situation of China, establishes a dynamic inter-provincial panel data regression model and makes an empirical test on the relationship among foreign direct investments, foreign trade and pollutant discharge these three factors. The results show that foreign direct investment and foreign trade in diff erent regions have a diff erent impact on pollutant discharge. Therefore, local governments should at all levels be based on local conditions to att ract foreign investment and develop foreign trade for the targeted optimization of the structure of introducing foreign investment and improving the quality of foreign trade growth, thus improving the overall situation of China’s pollutant discharge.
Slavica P. Petrović
Na početku ovog Uvodnika, obaveštavamo domaću i inostranu akademsku zajednicu da su Ekonomski horizonti – uz EconLit, EBSCO, Cabell’s Directories, ProQuest ABI/INFORM, Index Copernicus, Ulrich Web – od marta meseca ove godine uključeni u Directory of Open Access Journals (DOAJ) – online direktorijum koji indeksira i obezbeđuje otvoren pristup recenziranim naučnim časopisima.