Course Of Business Research Articles

SPECIFIC TYPES OF RELATED PARTIES AND TRANSACTIONS WITH THEM IN INTERNATIONAL STANDARD ON AUDITING 550: IMPACT ON THE ASSESSMENT OF RISK OF MATERIAL MISSTATEMENT AND ESTABLISHING THE ENTITY’S ACCOUNTING POLICY

The purpose of the study is to identify the impact of specific types of related parties, which are allocated in International Standards on Auditing 550 “Related Parties”, not only on the organization of the audit of financial statements in the context of assessing the risk of material misstatement, but also on the organization of accounting in enterprises. To achieve the goal set in the work, a complex of general scientific methods (analysis, synthesis, induction, deduction, abstraction) and methodical techniques (systematization, generalization, review, comparison) based on the provisions of International Standards of Auditing was used. In the study of the essence of related parties transactions and elaboration their classification method of system analysis, logical method, and method of modeling were used. There are three major tasks within the overall responsibility of the auditor while fulfilling such engagement as audit of the financial statements have been determined. It is substantiated that two different phrases (“has a responsibility to perform audit procedures” and “needs to obtain an understanding”) which are used in International Standards on Auditing 550 “Related Parties” requires a separate approach to formation a set of optimal audit procedures. Specific types of related parties based on the International Standards 550 “Related Services” that should be considered when performing audit of financial statements has been identified. Classification of related parties transactions according to their riskiness and connection with the normal course of business into four different types has been elaborated. Two groups of inquiries concerning related parties transactions have been analyzed. It has been proved that making inquiries the auditor should provide as much information as possible in order to avoid misunderstandings, which may lead to difficulties in forming an opinion. It is noted that determining the characteristics of the dominant influence and significant transactions will allow effective communication and cooperation between auditors, management staff and those responsible for governance in formation inquires and answers for them. Using proposed classification in the process of audit of financial statements and in developing regulatory documents for accounting at the entity will allow appropriate assessing of risk of material misstatement and increasing the effectiveness of internal control at the entity. It has been substantiated that the objectives of accounting policy not only in terms of meeting the interests of the company as an entity that prepares financial statements and interacts with related parties, but also in terms of meeting the interests of the entity as a responsible party, interacting with the auditor, that seeks to establish an internal control system that will ensure reducing its own risks.

Recommendations for capturing signatures digitally to optimize their suitability for forensic handwriting examination.

The use of digitally captured signatures in everyday course of business increases annually and, compared to pen and paper signatures, provides various advantages concerning the administration of documents. These signatures may also become subjects of a forensic handwriting examination and, therefore, in order to optimize their suitability for this purpose, they should satisfy several requirements. This paper presents recommendations drawn up by forensic handwriting examiners associated with ENFHEX (ENFSI) in a project aimed at defining best practices in forensic examination of digitally captured signatures. The paper is dedicated mainly to hardware and software developers, providers, and user institutions of digitally captured signature technologies to improve their practice to a level optimized for forensic handwriting examination. The most important requirements outlined in this paper concern digitally captured signature data, hardware, and software used to acquire these data, as well as optimized signing conditions. Following these requirements ensures the suitability of signature data for forensic handwriting examination and, consequently, increases the reliability of the associated electronic documents. In spite of rapidly evolving technology, they can serve as a solid basis for understanding and consideration of the optimal use of digitally captured signatures for signing electronic documents.

Corporate Form and Sustainability: How to Leverage Benefit Governance

This chapter investigates whether corporate form matters in building a more sustainable business. The most prevalent corporate form that purports to increase sustainability is the benefit corporation, which has been around for almost a decade as of this writing. In that time, over 10,000 benefit corporations have been formed and over 300 have collectively raised more than $4 billion in outside capital; three have gone public; and two other public companies have committed to take a vote to their shareholders to convert. Three additional companies traded in the United States have adopted benefit corporation governance, a form of private ordering available to companies in jurisdictions where the benefit corporation is not available. Many well-known brands belong to these companies including Dannon Yogurt, Silk Milk, Eileen Fisher, Avon Products, The Body Shop, and Allbirds Shoes. Financial services like Amalgamated Bank and Lemonade Insurance are included as well. The chapter includes a summary of the important elements of benefit governance, focusing on the form adopted in Delaware, the public benefit corporation (PBC). It covers the directors' balancing obligation and how it affects director decision-making. It also covers the unique role that shareholders play in protecting stakeholder interests and the disclosure obligation of a PBC. The chapter also provides an overview of the differences directors may encounter in overseeing the management of a benefit corporation. This section covers the use of board committees, considerations in the normal course of business and the role of executives. The discussion includes ordinary business, as well as sale and defensive situations. Readers should remember that benefit corporation governance is only the map, and not the territory itself. By shifting corporate purpose from shareholder wealth to shared value, this new corporate form can show the way for executives, directors and shareholders to work together to build business models that derive sustainable profits from efficiency and innovation and that reject the business of extraction and exploitation.

NEW INSTITUTE OF INTELLECTUAL PROPERTY LAW IN UKRAINE — UNREGISTERED INDUSTRIAL DESING

The article discusses the main provisions of the institution of intellectual property law — an unregistered industrial design, which was introduced into the legislation of Ukraine through the implementation of the provisions of Art. 212–217 Chapter 9 «Intellectual Property» ofthe Association Agreement between Ukraine, on the one hand, and the European Union, the European Atomic Energy Community and their Member States, on the other hand, and harmonization with the norms of Directive 98/71/EC of the European Parliament and of the Council of 13 October 1998 on the legal protection of designs and Council Regulation (EC) No 6/2002 of 12 December 2001 on Community designs.The authors analyzed the main features of the legal protection of industrial designs as unregistered industrial designs, namely: without registration for a short period of time, with a limited scope of rights. The legal regulation of the protection of an unregistered industrial design in Ukraine is similar to the legal regulation of an unregistered industrialdesign of the Community and has the same advantages and disadvantages.Since the Community Design Regulation came into force, one important question has always lingered: can a design which is first disclosed outside the EU territory be protected by an unregistered Community design right when it is subsequently disclosed within the EU? The UK court’s recent reference to the Court of Justice of the European Union may finally will answer this question. The same question arises in relation to an unregistered industrial design in accordance with the new legislation ofUkraine and requires further clarification in law enforcement practice.Of equal interest is a date for assessing the novelty of a design. Is the date for assessing the novelty of a design for which unregistered Community design protection is the date on which the unregistered Community design protection for the design came into being according to the Regulation, or alternatively the date on which the relevantevent of disclosure of the design could reasonably have become known in the normal course of business to the circles specialized in the sector concerned, operating within the Community, or alternatively some other, and if so, which date?

Design and Development of Ceramic Information System Based on Object Oriented Programming

The author designed an object oriented programming based sales application using use case diagrams, activity diagrams, sequence diagrams, deployment diagrams, entity relationship diagrams, logical record structures, and user interfaces. The design of this information system is expected to produce sales application programs ranging from customer data input, input data of goods, input of sales orders, print out of travel documents, print invoices, cash receipts input, print payment receipts to print reports so that sales applications can have a positive impact on the course of business which is built, reducing duplicated functions, and errors caused by human errors. With the design of a sales application, the problems that exist in the manual system can be resolved such as the system will not receive incomplete data, the system can make automatic numbering, and minimize errors that occur due to humans (human error), reduce the amount of paper usage, report generation can done easily and quickly because the data is processed by the system.Keywords: Design, Sales, Object Oriented Programming.

Eugen Schmalenbach, Austrian economics, and German business economics

Eugen Schmalenbach was one of the founding fathers of business economics theory in the German-speaking world in the first half of the twentieth century. While Mises mentions or discusses Schmalenbach’s work several times and Schmalenbach refers to, for example, Menger and Bohm-Bawerk, his opus and its significance for Austrian theorizing is largely ignored by today’s Austrian scientific community. This fact is astonishing given that Schmalenbach’s work smoothly integrates with and, even more importantly, enhances the reach of Austrian theory into the field of business economics, particularly with regard to the vast field of economic calculation. Based on Austrian insights, Schmalenbach published extensive approaches to both retrospective and anticipatory monetary calculation that serve the entrepreneur in making decisions on the use of scarce resources and in assessing the success of such decisions ex post. Hence, he operationalized Austrian economic calculation to enable the individual entrepreneur to concretely exercise it in his routine course of business. The conceptual ideas of Schmalenbach are cornerstones of Prussian-German business economics (Betriebswirtschaftslehre) which has been taught in universities and business schools in German-speaking countries for more than a century now. This paper, therefore, aims to introduce the Austrian community to Schmalenbach’s work, to emphasize its significance for the advancement of Austrian theorizing, and to illustrate the close relations between Austrian economics and German business economics.

The Social Psychology of Cryptocurrency

Regarding accounting for holdings of cryptocurrencies, following the ASBJ's PITF 38 in March 2018, the IFRS Interpretations Committee finalized Agenda Paper 12: Holdings of Cryptocurrencies in June 2019. However, despite PITF 38 regarding cryptocurrencies as a new type of asset in developing a new standard, Agenda Paper No. 12 uses existing IFRS, which describes that the holdings of cryptocurrencies for sale in the ordinary course of business will meet the definition of inventories under IAS 2 and as such be measured at fair value. However, if IAS 2 is not applicable, IAS 38 will apply, and cryptocurrencies will then meet the definition of an intangible asset. As a rule, financial statements should reflect the economic circumstances resulting from the psychology of cryptocurrency users. To clarify what is in users' minds, from May to June 2019, concerning the holding of cryptocurrencies, a questionnaire was administered in Japan. The results show whether, under the new accounting rules, users know their minds or respond to their information needs.

The Inherent Weakness of Floating Charges

This case note discusses the recent Singapore Court of Appeal’s decision in Malayan Banking Bhd v Bakri Navigation Co Ltd [2020] 2 SLR 167, which made important points on the legal position of a floating chargor’s dealings with charged assets outside the chargor’s ordinary course of business. In particular, the decision clarifies the relative priorities of the chargor and the third party as well as whether such dealings would crystallise the charge by operation of law. In so doing, the decision also confirms that the floating charge’s flexibility, its greatest strength, might just be its inherent weakness, first conceptually, and then in its effectiveness.

Innovating Start-up Business and Entrepreneurship

Innovation and Entrepreneurship are two related words in the business world. Entrepreneurship is an activity of designing, starting and running a new business. Entrepreneurship is doing things that are generally not done in the ordinary course of business. Entrepreneurship is the risk taking by the innovators called entrepreneur in an economy. Innovation may be in introducing a new manufacturing process that has not yet been commercially exploited. Innovation is translating ideas or inventions that creates value. It satisfy the customer needs and preferences. Entrepreneurship is applying innovation to bring ideas and does thing in a new and better way. Innovation involves problem solving and Entrepreneurship is a problem solver. The paper says about the innovation and Entrepreneurship mainly focus on the importance and development of the business where the company earns profit from the customer satisfaction. It shows the current role of the innovation and Entrepreneurship development and how it helps in business survival.

DICR: AI Assisted, Adaptive Platform for Contract Review

In the regular course of business, companies spend a lot of effort reading and interpreting documents, a highly manual process that involves tedious tasks, such as identifying dates and names or locating the presence or absence of certain clauses in a contract. Dealing with natural language is complex and further complicated by the fact that these documents come in various formats (scanned image, digital formats) and have different degrees of internal structure (spreadsheets, invoices, text documents). We present DICR, an end-to-end, modular, and trainable system that automates the mundane aspects of document review and allows humans to perform the validation. The system is able to speed up this work while increasing quality of information extracted, consistency, throughput, and decreasing time to decision. Extracted data can be fed into other downstream applications (from dashboards to Q&A and to report generation).

Course Design and Project Reform of Comprehensive Counter Business of Commercial Banks Based on Improving Ability as the Goal

The obtain employment for financial students in higher vocational colleges mainly takes market demand as the orientation, and cultivate professional and technical talents in the first line of services in banking, insurance, securities, investment and financial management industries as the goal. The course of Comprehensive Counter Business of Commercial Banks mainly aimed the post of commercial bank counter to study how to adjust the teaching content and methods of the existing courses to realize the zero distance work of students.

Mitteleuropäisches Zivilrecht. Studien und Beiträge zum ADHGB

The General German Commercial Code (ADHGB) of 1861 defined in the second half of the 19th century the course of business in Central Europe, assuming substantially the function of a common Law of Obligations. As a “Uniform Act” it provided the Sale of Goods with a comprehensive set of rules, formative for the further development in the 20th century.

CORPORATE SOCIAL RESPONSIBILITY (CSR):CONCEPT OF THE RESPONSIBILITY OF THE CORPORATIONS

A self-regulating business model that is use to help public, a company be socially accountable—to itself and its stakeholders is known as Corporate social responsibility (CSR). By rehearsing corporate social duty, additionally called corporate citizenship, organizations can be aware of the sort of effect they are having on all parts of society, adding environmental, economic, and social. To take part in corporate social responsibility implies that, in the standard course of business, an organization is working in manners that improve society and the earth, rather than contributing adversely to them.

КРИТЕРИИ ОЦЕНКИ ОБЫЧНОЙ ХОЗЯЙСТВЕННОЙ ДЕЯТЕЛЬНОСТИ (Criteria for the Evaluation of Ordinary Economic Activities)

Russian Abstract: Преодолевается устойчивый стереотип,согласно которому любая сделка, стоимость которой превышает 25% балансовой стоимости активов общества, является крупной. Даются критерии крупной сделки. Показаны новые подходы к определению обычной хозяйственной деятельности, предусмотренные законами об акционерных обществах и обществах с ограниченной ответственностью. Предлагается методика оценки сделок на предмет их совершения в рамках обычной хозяйственной деятельности. English Abstract: A stable stereotype is overcoming, according to which any transaction, the value of which exceeds 25% of the book value of the company's assets, is large. The criteria for a major transaction are given. The new approaches to the definition of ordinary business activities, provided by the laws on joint-stock companies and limited liability companies, are shown. A methodology is proposed for evaluating transactions with a view to making them within the ordinary course of business.

Penerapan metode pencatatan dan penilaian atas persediaan bahan baku pada Dolphin Donuts Bakery Manado

Inventories are assets that are held for sale in the normal course of business or goods that are used or consumed in production to be sold. For companies, inventory is a very important asset because with the company’s inventory can maintain it’s survival. The problem that often occurs in inventory accounting is recording and valuation. The purpose of this research is determine the suitability of the application of recording and valuation or raw material inventories at Dolphin Donuts Bakery Manado with the Statement of Financial Accounting Standards for Entities without Public Accountability (SAK ETAP). Dolphin Donuts Bakery Manado is a company engaged in the food industry that produces a variety of breads, pastries, donuts and birthday cakes. The method used in this research is descriptive qualitative method. Based on research results obtained that method of recording inventories is not all in accordance with SAK ETAP. Whereas the valuation of raw material inventories applied by Dolphin Donuts Bakery Manado is in accordance with the Statement of Financial Accounting Standards for Entities without Public Accountability (SAK ETAP) Chapter 11 Regarding Inventories.

Judgment Aggregation in Creative Production: Evidence from the Movie Industry

This paper studies a novel, light-touch approach to aggregate judgment from a large number of industry experts on ideas that they encounter in their normal course of business. Our context is the movie industry, in which customer appeal is difficult to predict and investment costs are high. The Black List, an annual publication, ranks unproduced scripts based on anonymous nominations from film executives. While low participation costs enable a high response rate from busy executives, this results in a trade-off, as the nominations lack standard criteria, and which voters see which ideas may be unobservable and affected by various factors. Despite these challenges, we find that such an approach to aggregation is predictive: listed scripts are substantially more likely to be released than observably similar but unlisted scripts, and, conditional on release and investment levels, to generate higher box office revenues. We also find that the results differ by the writer’s experience level: (i) scripts from less-experienced writers are, in fact, more likely to be listed and to rank higher if listed; (ii) but even though being listed is associated with a higher release rate within less-experienced writers, the discrepancy in release probabilities relative to experienced writers remains large (even for top-ranked scripts). Both of these results can be explained by the idea that scripts from less-experienced writers are more visible among eligible voters.

Intellectual Property Survey: Cannabis Plant Types, Methods of Extraction, IP Protection, and One Patent That Could Ruin It All

Intellectual property is one of a company’s most valuable assets, at times deserving rigorous time and effort for proper protection. Companies rely on patent, trade secret, trademark and copyright laws to protect their intellectual property. For most businesses, this process is routine and a standard part of their ordinary course of business. Cannabis companies, unfortunately, have many obstacles to overcome to use some of these same protections, as cannabis is considered federally illegal, yet legalized in many states to varying degrees. Cannabis companies must, therefore, be innovative and nuanced in their strategies for protecting their proprietary business information such as patentable subject matter through the use of patents and trade secrets. The method of intellectual property protection is driven by the subject matter. Cannabis growers target specific plant types based on cannabidiol (“CBD”) and delta-9-tetrohydrocannabinol (“THC”) ratios and desired characteristics using specific method of extraction, all of which are patentable if legal elements are met. Unfortunately, while the cannabis industry is an emerging market with plenty of growth ahead of it, an ongoing Colorado court case involving liquids containing cannabinoids that could result in major negative ramifications for all involved in the cannabis industry.

중국 제3자 결제 서비스의 전환의도에 관한 연구 : 알리페이를 대상으로

Non-profile assets are assets of financial institutions or other organizations that are not connected with its fundamental activities. Such assets may be formed in business sphere after an organization changes its strategy - if it decides to close one course of business and choose the other. In the 90s of last century, in post-Soviet area, organizations became owners of non-profile assets after large-scale privatization, when nursery schools, polyclinics, schools, and so on, as well as enterprises turned to be their property. At present day bank structures appeared to be owners of non-profile assets, as source of extra profit.

Legitimacy, Collective Authority and Internet Governance: A Reflection on David Caron's Study of the UN Security Council

In his 1993 study in the American Journal of International Law, The Legitimacy of the Collective Authority of the Security Council, David Caron proposed that: basic challenge for international governance is to seek designs that promote institutional integrity, and that consequently address in the ordinary course of business the circumstances that make possible the resonance of allegations of illegitimacy. What are the characteristics of process of decision with integrity, that may be trusted? How does one ensure that an institution is faithful to the promise of the organization, that is, that it acts with integrity? Consistent with his approach to scholarship across the range of his concerns, Caron addressed two things (at least) at once. In the most immediate sense, he was concerned with the emergent role of a functioning UN Security Council- which was then (1991-93) seen as an institution bridging the end of the Cold War and the beginning of what George H.W. Bush called the New World Order-a Council acting with vitality to counter variety of threats to international peace and security. Put more directly, Caron was seeking to understand whether the blowback to Council that acted in utterly unprecedented ways would have concrete implications for its functioning. As he described the moment, he saw no small measure of irony that, as the international community finally achieved the capability to pursue its role under Chapter VII of the UN Charter, many began to have second thoughts about the of that body's use of its collective Bringing to the discussion clear-eyed understanding of the political threats facing the Council and world order, he introduced the study by noting that his analysis would eventually turn to policy prescriptions to address the possibility of gap in the Council's exercise of authority. In narrow sense, the article was policy-relevant exploration that he would punctuate with proposals to strengthen the central security institution of international law. But the article speaks beyond its time; it goes much further and deeper than the policy issues of its moment. I read Caron's conclusions as reflective of his humility and his embrace of scholarly inquiry, recognition that discussions of must take into account the variation in attitudes toward the concept, its subjectivity, and its politicized sheen. Caron asked, what does it mean to speak of an institution's use of authority as illegitimate? And in the context of the Security Council, does it matter? He analyzed and then concluded that does matter and that, in order to bolster its legitimacy, the Security Council must change. But even in his call for change, Caron was measured and cognizant of the realities of international politics. He showed elements of idealism and realism. I was Caron's student when he published Legitimacy, and his article (like the man himself) strongly influenced the way I think about international law and institutions, not to mention the professional roles of international lawyers. I want to use Caron's framework to suggest some tentative answers to evaluate another question, just as present today in our global conversation as Legitimacy was at the moment of its publication twenty-five years ago: Why are State-driven models of global internet governance so widely appraised as illegitimate? And, by contrast, why have the existing models of internet governance been so attractive not only to civil society and companies but also to the vast majority of States? What can Caron's assessment of legitimacy impart to our own understanding of this major issue of global governance?

Editorial: 25 años de evaluación por pares en <em>Trabajos de Prehistoria</em>

El editorial cierra el cuatrienio del actual equipo. Presenta el contenido del volumen 75, dedicado a Martin Almagro Basch, fundador de Trabajos de Prehistoria, cuando se conmemoran los 25 años de la evaluación por pares en la revista. Cada número semestral combina artículos resultantes de la gestión habitual de la revista con otros invitados. Estos abordan el estado actual de la investigación prehistórica en la Península Ibérica, visto desde el extranjero, y proyectos importantes llevados a cabo por los prehistoriadores del Instituto de Historia del Consejo Superior de Investigaciones Científicas (CSIC). Se valora el grado de profesionalidad e internacionalización que han adquirido los estudios enmarcados en las líneas editoriales de Trabajos de Prehistoria.