Balance Sheets Of Companies Research Articles

THE STUDY OF FUNDAMENTAL & TECHNICAL ANALYSIS

Fundamentalists and chartists have historically always argued about how stocks and markets should be studied. Chartists, also known as technical analysts, estimate market patterns based on historical data, whereas fundamental analysts assess economic, financial, qualitative, and quantitative factors of a security in order to analyze the future of such security they also focus on all the other factors that influence stock prices. The study of Technical analysis begins with charts, but fundamental analysis begins with the financial statements of the organization. In fundamental analysis, you must look at a company's income statement, balance sheet, and cash flow statement to establish its intrinsic worth. Whereas in technical one put more focus on the past trend and the patterns of a particular stock which might help in forecasting the future of that particular stock or security. The main objective of this thesis is to study the important concepts of fundamental analysis and forecast the future trends of certain companies which becomes the part of findings of this study.

A stochastic Asset Liability Management model for life insurance companies

We build a stochastic Asset Liability Management (ALM) model for a life insurance company. Therefore, we deal with both an asset portfolio, made up of bonds, equity and cash, and a liability portfolio, comprising with-profit life insurance policies. We define a mortality model and a surrender model, as well as a new production model. First, with the purpose of ensuring the solvency of the company and the achievement of a competitive return, in the interest of both shareholders and policyholders, the insurer’s portfolio is periodically rebalanced according to the solution of a nonlinearly constrained optimization problem that aims to match asset and liability durations, subject to the attainment of a target return. In addition, several real-world constraints are imposed. When computing the company balance sheet projections, we consider not only future maturity and death payments, but also future surrender payments and all the cash flows due to new production, in order to obtain estimates that are as reliable as possible. The estimation of the timing and of the numbers of future surrenders and of future new policyholders requires the approximation of conditional expectations: To this end, we employ the least squares Monte Carlo technique. Secondly, for each bonds asset class and for equity asset class we propose a sectorial optimization problem with the aim of maximizing the expected value of a chosen utility function, subject to the results obtained from the first stage of portfolio rebalancing. Finally, we analyze a case study.

Let's Talk about Momentum

Let's Talk about Momentum

Is leasing a debt? According to suspension of debt payment obligations law

Every company wants to grow and in order to achieve that, a company needs funding. There are various ways for a company to get funding, be it external or internal. One alternative form of funding is leasing. Leasing is the rental of production equipment by the company (lessee) to the lessor. The company should pay rental fees. Leasing has several advantages over loan financing. The rental fee will be charged at the company's expense. As for loans from financial institutions, only interest costs are charged as fees. This study examines the status of leasing or leasing in companies experiencing bankruptcy. This study uses a normative legal method associated with the company's capital structure theory. This study concludes that the lease is not part of the debt. A lease is a form of a rental contract. Leases do not have a record as a debt on the company's balance sheet. In addition, the guarantee or production equipment leased is the property of the lessor or the lessor. The company does not have the right to own the machines until it is fully paid off. Unpaid rent that is past due can be included in an expense bill like any other expense.

Uticaj intelektualnog kapitala na performanse poslovanja malih i srednjih it preduzeća

This paper examines the impact of intellectual capital on the performance of small and medium IT companies operating in the Republic of Serbia. The research was conducted on the example of 112 IT companies, using panel data analysis, in such a way that the data was collected from the balance sheet and success of IT companies for the period from 2013 to 2020. The primary goal of the research is to determine the importance and impact of intellectual capital on the performance of IT companies, since this is a sector based on the 5th industrial revolution. An additional goal of the research is to answer the question of which element of intellectual capital has the greatest impact on the success of small and medium IT companies in the Republic of Serbia. The results of the research indicate that intellectual capital has an impact on the business performance of IT companies in human and engaged capital. Research has found that structural capital has a negative impact on business performance.

“Unreliable Accounts: How Regulators Fabricate Conceptual Narratives to Diffuse Criticism” by Karthik Ramanna: A Comment on Ideological Capture

Abstract Karthik Ramanna in ‘Unreliable accounts: How regulators fabricate conceptual narratives to diffuse criticism’ considers how the Financial Accounting Standards Board (FASB) justified a conjunctural break from historic cost accounting (HCA) to Fair Value Accounting (FVA). Karthik’s paper explores how the US Financial Accounting Standards Board (FASB) legitimized the introduction of fair value accounting (FVA). This fundamental reorientation of financial reporting practice can, he argues, be understood within a framing device: conceptual veiling. Firstly, the FASB is (suspected to be) captured by the interests of investors and capital market actors. Secondly, the FASB needed to construct new narratives to enable this reorientation in accounting practice and this was achieved with changes to the governing conceptual framework. An alternative framing device is offered in this review, that of the financialization of company financial reporting and implications for company viability as opposed to a capital market efficiency perspective. Financialized accounting facilitates the valuation of a range of asset classes to a market value. These asset valuations are speculative in nature. FVA accounting imports speculative capital market risk onto company balance sheets and this can threaten company financial stability and viability for a going concern.

THE IMPLICATIONS OF ROBOTICS AND ARTIFICIAL INTELLIGENCE FOR ECONOMIC GROWTH

The Industrial Age, which humanity entered long ago with the invention of the steam engine, resulted in the introduction of primitive mechanization into the manufacturing process. Electronics, nanotechnology, advances in medicine, health, and digital applications, among other things, are accelerating the study of mechatronics today, thanks to the development of the internet and mobile technologies. Robotics and artificial intelligence occupied a prominent position on the agenda of the last World Economic Forum, and economists such as Roubini and Stiglitz participated in the discussion of how robotics and artificial intelligence will impact the economy and business. However, even though Stephen Hawking has expressed concern about the risks involved in this regard, we are witnessing tremendous news and articles in business pages daily regarding these topics, and corporate life and professionals are no longer able to resist these changes. The changing nature of business terms and work forces, as well as the way businesses are conducted in the age of new technologies, will have significant implications for daily business life, as well as for the economies of individual countries and the global economy. The advancements in Artificial Intelligence will have a significant impact on many items and headlines in business and economics such as the jobless ratio, the Philips Curve, performance management, Analytics customer relationship management, sales and strategic planning mass production, Purchasing Power Parity (gross domestic product, inflation, money, Central Banks banking system, coaching training, accounting taxes, and many other items and headlines. One simple example can help to illustrate the magnitude of these ramifications: Would you recommend that the company maintain provisions for severance pay for its employees or that we calculate a reserve for depreciation / amortization for its robots? Would you recommend that we keep the term human resources in the title of the company's balance sheet, or would you recommend that we remove it entirely the purpose of this conceptual and hypothetical paper is to address and discuss the future of robots, mechatronics, and artificial intelligence from a variety of viewpoints and perspectives.

Why has the Brazilian economy stagnated in the 2010s? A Minskyan analysis of the behavior of non-financial companies in a financialized economy.

The Brazilian economy entered a deep recession in 2015–2016 and since then has shown a sluggish recovery. In this paper, we offer an interpretation for the slow growth based on Minsky’s financial instability hypothesis and recent literature on financialization and growth. We analyze the balance sheet of large non-financial companies over the period 2012–2019, a period that comprises the positive investment cycle—initiated during the commodities boom which lasted from the second half of the 2000s until 2014—the 2015–2016 recession, and the period preceding the shock of the COVID-19 pandemic. Based on Minsky’s taxonomy of financial profiles, we map a proxy for financial instability at the firm level based on Davis et al. (2019). We also propose an aggregate financial stability index. We conclude that after the 2015–2016 recession, companies have been restructuring their debt profile and adopting a defensive behavior, increasing their liquidity preference. Our analysis supports the interpretation that, even with the sharp fall in domestic real interest rates, the degree of confidence on expectations to recover investment in productive assets is low. This corroborates with the thesis that agents’ decisions do not respond only to supply stimulus, but are guided by expectations of future returns, which fundamentally depend on the performance of aggregate demand. Since 2015, Brazilian economic policy has been driven by fiscal consolidation, which has proven ineffective in increasing economic growth.

Why are the Contributions of Multinational Firms to Corporate Tax Revenues Declining?*

AbstractThis paper explores potential reasons for the decline in the relative contributions of multinational firms to corporate tax revenues. Using a population of UK firms, I show that over the period 2000–14 multinationals paid a declining fraction of corporate tax revenues while expanding in size. In 2014, over 70% of total assets reported on UK company balance sheets were held by companies that paid no tax and were part of a multinational group. These firms have higher and increasing capital intensities than firms reporting positive profits, suggesting capital mobility plays an important role. The documented increase in total assets has been primarily driven by firms in the finance sector, whose tax payments did not increase accordingly. I show that new entrants into the UK markets are increasingly more likely to pay less or no tax on entry, despite no change in the average entrant size. In addition, incumbent firms tripled in size since 2000 but did not change their tax payments. At the same time, the share of corporate tax revenues collected from domestic firms increased.

ASSESSMENT AND WAYS TO INCREASE THE FINANCIAL STRENGTH OF THE ENTERPRISE

Today we are witnessing the deepest financial crisis, which has affected almost all sectors of the economy. In conditions of competition and constant struggle, some enterprises and organizations were doomed to extinction. The rest, who managed to endure and endure, had to learn to survive in conditions of great risk and uncertainty, when all decisions have to be made independently without instructions and orders from above. In the new market conditions, organizations found themselves in close contact with the external environment, to which it was necessary to adapt. In today's business environment, one of the most important tasks is to find a balance between the level of solvency and financial stability of the company. Although each of these categories is a component of the company's financial balance sheet, financial independence as a forecast of the company's solvency in the long run can be analyzed using indicators of financial stability. Unlike liquidity and creditworthiness indicators, financial stability indicators are important for internal users of financial information in the organization. Financial stability is the most important characteristic of financial and economic activity of the enterprise. If the company is financially stable and solvent, it has an advantage over other companies of the same profile in attracting investment, obtaining loans, choosing suppliers and hiring qualified personnel. Finally, it does not enter into a conflict between the state and society, as it pays taxes to the budget, contributions to social funds, salaries of employees, dividends to shareholders on time and guarantees the repayment of loans and interest to banks. Despite numerous studies of financial stability, the methodological framework for analyzing the role of financial instruments in ensuring the financial stability of the enterprise has shortcomings and controversial issues. Therefore, our article is devoted to the study of the economic essence and methodological foundations of financial stability assessment, theoretical aspects of the influence of factors on ensuring the financial stability of enterprises. The essence, purposes and sequence of management of financial stability of the enterprise are investigated. The set of theoretical, methodological and practical aspects of assessing the financial stability of the enterprise and ways to improve it, the technology of assessing the financial stability of the enterprise, the system of indicators of financial stability of the enterprise are considered. The main methods of maintaining the financial stability of the enterprise are analyzed, the dynamics of indicators of financial stability of the enterprise are analyzed. The economic essence of financial stability and its value in the analysis of a financial condition of the enterprise are analyzed, the system of indicators for an estimation of financial stability of the enterprise is investigated, the maintenance and tasks of management of financial stability of the enterprise are defined. The necessity and importance of a systematic assessment of the financial condition of the enterprise, the expediency of developing the correct strategy and tactics of enterprise development are substantiated. The problems which can arise at the enterprise at definition of financial stability are investigated. Considered the optimization of accounting processes at the parent company; factor model of financial stability of the enterprise; ways to ensure the financial stability of the enterprise are proposed.

Effect of Sales Returns on Retail and E-commerce Industry

In this paper, we explore and discuss the effects of sales returns on the retail and E-commerce industry. We also take into consideration the positive and negative impact of sale returns on the minds of consumers as well as retailers. Sales returns in the simplest of terms means merchandise that is given back by the buyer to the seller to annul the prior transaction due to reasons like defects in the product, untimely delivery and so on. Sales returns have an enormous adverse impact on the balance sheet of companies as they have to be deducted from the amount of sales revenue, thus reducing top line and bottom-line growth. Almost all the companies, whether in bricks and mortar form or online form have opened the option of sales returns to do customer-centric selling due to which a lot of industries and companies are hit by the abundant amount of sales returns. In this paper, we also discuss some of the ways in which sales returns can be reduced through effective operations and new inventive ideas.

ЛІКВІДНІСТЬ БАЛАНСУ ПІДПРИЄМСТВА ТА МЕТОДИКА ЇЇ ВИЗНАЧЕННЯ

The article explores the theoretical and methodological basis of the analysis of the liquidity of the company’s assets and liabilities. The economic essence of the liquidity of the balance sheet for the enterprises has been determined. The most common methods of analyzing the liquidity of the company's balance sheet have been clarified and analyzed. The main shortcomings of traditional ways of determining the level of liquidity of economic assets and sources of their formation in the enterprise have been revealed. An alternative concept has been proposed to determine the level of liquidity of the company's assets and liabilities, which contains weighting factor for each group of assets and liabilities, depending on their level of liquidity, using the final integrated liquidity indicator. An alternative method of determining the level of liquidity of the balance sheet has been tested on the example of the Company “Conti” during 2016-2019. Balance sheet liquidity is the ability of the enterprise to convert its assets into payment means to repay current and long-term liabilities in an acceptably short period of time. The level of liquidity of the balance sheet of the enterprise is determined by some liquidity ratios. According to the standard methodology, the final liquidity indicator is the general liquidity indicator, the calculation of which involves the grouping of assets on the basis of liquidity; liabilities – the urgency of payment. However, this indicator doesn’t take into account the degree of liquidity of asset groups and the urgency of paying groups of liabilities, which leads to distortions in its values. An alternative methodology for determining the level of liquidity of the company’s balance sheet is the calculation of the single integral liquidity indicator. The principle of calculating this indicator is based on the calculation of the general liquidity indicator with the introduction of additional groups of assets and liabilities, as well as weight coefficients for each group. The main advantage of using an alternative technique is a higher accuracy of determining the level of liquidity of the enterprise balance sheet, the main drawback is the increase in the complexity of calculations.

Impact of merger and acquisition on Indian steel companies- A case study approach

The present paper is an endeavor to critically analyze the financial health of Indian steel companies during pre and post acquisition period. The study is also an endeavor to analysis the impact of acquisition on the acquirer company after such acquisition. Data are collected from audited balance sheet, profit and loss account of the concerned companies, CMIE data base, BSE and NSE and money control.com. To facilitate the study different types of ratios are selected and paired t-test is applied. The result showed that post acquisition liquidity, profitability, efficiency and cash flows of the selected companies’ decline in a significant way. Paired t-test is applied in the study at 0.05 significant levels to compare overall financial position of the selected companies during before and after acquisition. Financial ratios of whole sample show there is a significant deterioration in the mean of all selected ratios of acquirer companies. With a series of merger and acquisition taking place in Indian steel industry so far more than a half of the bidder firms demonstrated depressed financial performance in the post acquisition time as compared to pre acquisition period. Keywords: Corporate reconstruction, Merger and acquisition, Paired t-test, Financial performance of Indian steel companies.

ANALISIS METODE PENCATATAN PERSEDIAAN AIR MINERAL AQUA PADA UD KALTIM MAKMUR DI KABUPATEN BERAU

A good inventory system can be seen from how an inventory is reported correctly and accurately on the company's balance sheet. In order for this to be achieved, it is necessary again to be precise and precise in terms of recording, appraising and determining the cost of goods. Apart from being very influential in the company's financial statements, this will also affect the supervision of the company's inventory which is indirectly related to the supervision of the company's employees itself.The purpose of this study was to clearly determine the application of the method of recording and assessing the Aqua Mineral Water supply at UD Kaltim Makmur in accordance with PSAK No. 14 concerning Inventory. The analytical method used in writing this thesis is quantitative descriptive analysis.The results of this study concluded that the application of the Aqua Mineral Water supply recording method at UD Kaltim Makmur was not in accordance with PSAK No. 14. The inventory recording method used by UD Kaltim Makmur is the periodic method. The use of the periodic recording method at UD Kaltim Makmur is not in accordance with PSAK No. 14, which should use a perpetual method or with the use of inventory cards. UD Kaltim Makmur calculates the inventory value without using the cost formula required in PSAK No. 14, so the method used by UD Kaltim Makmur is not in accordance with PSAK No. 14.

Data segmentation based on the local intrinsic dimension

One of the founding paradigms of machine learning is that a small number of variables is often sufficient to describe high-dimensional data. The minimum number of variables required is called the intrinsic dimension (ID) of the data. Contrary to common intuition, there are cases where the ID varies within the same data set. This fact has been highlighted in technical discussions, but seldom exploited to analyze large data sets and obtain insight into their structure. Here we develop a robust approach to discriminate regions with different local IDs and segment the points accordingly. Our approach is computationally efficient and can be proficiently used even on large data sets. We find that many real-world data sets contain regions with widely heterogeneous dimensions. These regions host points differing in core properties: folded versus unfolded configurations in a protein molecular dynamics trajectory, active versus non-active regions in brain imaging data, and firms with different financial risk in company balance sheets. A simple topological feature, the local ID, is thus sufficient to achieve an unsupervised segmentation of high-dimensional data, complementary to the one given by clustering algorithms.

The Counterparty Assessment Mechanism in the Receivables Management System of Agricultural Organizations in the Republic of Belarus and the Ukraine

The article investigates issues regarding settlements between business counterparts in the Republic of Belarus, including those between Ukrainian and Belarusian enterprises. The presence of bad debts is identified as a key issue, leading to overdue and unrealistic debt collection accounting that burdens a company's balance sheet, resulting in a loss of financial stability of the creditor enterprise. Monitoring of business counterparts helps minimize this risk. Therefore, a mechanism has been developed to collect information about a counterparty and create a credit dossier. There is a proposal to monitor a counterparty's solvency based on criteria that has been specifically established for an industry. The proposed mechanism will help control unjustified growth in the receivables of agricultural organizations in The Republic of Belarus and the Ukraine in hopes of keeping funds in circulation, and reducing the risk of companies losing their own financial stability due to overly loyal credit policies.

Web Scraping in Finance using Python

The objective of this paper is to highlight different ways to extract financial data ( Balance Sheet, Income Statement and Cash Flow) of different companies from Yahoo finance and present an elaborate model to provide an economical, reliable and, a time-efficient tool for this purpose. It aims at aiding business analysts who are not well versed with coding but need quantitative outputs to analyse, predict, and make market decisions, by automating the process of generation of financial data. A python model is used, which scrapes the required data from Yahoo finance and presents it in a precise and concise manner in the form of an Excel sheet. A web application is build using python with a minimalistic and simple User Interface to facilitate this process. This proposed method not only removes any chances of human error caused due to manual extraction of data but also improves the overall productivity of analysts by drastically reducing the time it takes to generate the data and thus saves a substantial amount of human hours for the consumer. We also discuss the importance of data mining and scraping technologies in the finance industry, different methods of scraping online data, and the legal aspect of web scraping which is highly dependent on generated data to analyse and make decisions.

Structural change and financial fragility in the Colombian business sector: A post Keynesian approach

This paper aims to establish the theoretical and empirical link between structural change and financial fragility based on the theories of Thirllwall's Law and Minsky's financial instability. In order to do so, a descriptive and econometric panel analysis is carried out for 1846 Colombian companies during the period 1996-2015. A new indicator of financial fragility is created, and from this a relationship is established between the company's balance sheets, structural change, economic growth, the size of the firm, and the Minsky effect that measures the endogeneity of the debt cycle.

Costos y gastos, su relación con los resultados financieros en una empresa de transporte

El objetivo principal de la investigación es, determinar el nivel de relación entre costos y gastos de servicio con los resultados financieros de la empresa de transportes de carga Valentín & Valentino S.A.C. Bajo el enfoque cuantitativo, la investigación se desarrolló a nivel descriptivo – correlacional, y corte transversal no experimental. Para el análisis unidades fijas de la empresa de este estudio se empleó la técnica de recolección datos de revisión documental de registros de ventas, compras, reporte de consumo de combustibles y balances de la empresa; acumulando un total de 36 registros contables de información valiosa de los períodos comprendidos entre los años 2014 al 2016. Tales, conformaron la muestra de estudio determinada bajo muestreo intencionado. Los resultados determinaron que existe relación significativa media alta entre costos y utilidad bruta (rs=,666; p=,000), y una relación significativa media con utilidad operativa (rs=,482; p=,003); en tanto que, no presenta relación significativa con la rentabilidad financiera (rs=,257; p=,130). A propósito de los gastos de servicios, presenta significatividad alta con la utilidad bruta (rs=,908; p=,000), y media con la utilidad operativa (rs=,529; p=,001), mas no con la rentabilidad financiera (rs=,182; p=,289). En conclusión, se asume que, existe un exceso en los gastos de las unidades fijas de la empresa; asimismo, los costos y gastos están relacionados directamente con los resultados financieros en cuanto a utilidad bruta y operativa.

Business as Usual with Article Processing Charges in the Transition towards OA Publishing: A Case Study Based on Elsevier

This paper addresses the topic of the article processing charges (APCs) that are paid when publishing articles using the open access (OA) option. Building on the Elsevier OA price list, company balance sheet figures, and ScienceDirect data, tentative answers to three questions are outlined using a Monte Carlo approach to deal with the uncertainty inherent in the inputs. The first question refers to the level of APCs from the market perspective, under the hypothesis that all the articles published in Elsevier journals exploit the OA model so that the subscription to ScienceDirect becomes worthless. The second question is how much Elsevier should charge for publishing all the articles under the OA model, assuming the profit margin reduces and adheres to the market benchmark. The third issue is how many articles would have to be accepted, in an OA-only publishing landscape, so that the publisher benefits from the same revenue and profit margin as in the recent past. The results point to high APCs, nearly twice the current level, being required to preserve the publisher’s profit margin. Otherwise, by relaxing that constraint, a downward shift of APCs can be expected so they would tend to get close to current values. Accordingly, the article acceptance rate could be likely to grow from 26–27% to about 35–55%.