Property Profit Research Articles

『특정경제범죄가중처벌 등에 관한 법률』제3조 제1항의 ‘이득액’ 개념의 합리적 해석

Article 3, Paragraph 1 of the 「Act on the Aggravated Punishment, etc. of Specific Economic Crimes; the Act」 should be punished based on the profit amount. Therefore, profit amount should be calculated strictly and carefully as it corresponds to the factors that determine the applicable law and legal sentence as the basis for punishment. There is a discussion on the systematic status of the profit amount, and there is a view that it is a constituent element only when the Act is applied, and regardless of whether the Act is applied, the precedent is a constituent element only. Given that the profit amount itself is the result of a property crime, and that the Act stipulates that the gain exceeds the standard amount as a requirement for aggravated payment, it is reasonable to understand only “whether the gain is 500 million won or more”.
 On the other hand, as the Act stipulates the value of the property or property profit acquired as the profit amount, there is a problem that the value of the property or property profit, which is the object of the property crime, is inconsistent with the value of the profit actually acquired by the actor due to the crime. The theory mainly suggested the real value theory, which requires the calculation standard for the amount of profit to be evaluated as the value of the gain actually acquired, as a solution, and the precedent also adopted the position of the real value theory in some cases. However, the above problem is based on the fact that the Act prescribes the value of property or property profit acquired as the profit amount, and precedents have already been interpreted to achieve the principle of balance of criminal punishment or accountability to the maximum extent possible within the statutory language and text, presenting the theory of real value as the basis for calculating the amount of profit is not a fundamental measure to solve the problem.
 Therefore, in order to solve the above problem, it is necessary to conceptually distinguish the value of acquired property or property profits and the profit amount. Since property and property profits are objects of property crimes, the “value of property or property profits” is purely identified in terms of objects of property crimes, and profit amount is separately understood as the value of gains (earned) as a result of property crimes. If the profit amount and the value of property or property profits are conceptually distinguished, the applicable laws (the Act or criminal law), and statutory sentences that are the basis for punishment can be determined based on the results of profit amount. In addition, it is consistent with precedents and theories that identify “whether the gain exceeds 500 million won or 5 billion won” as an equivalent component of a specific property crime by determining the profit amount according to the criteria for calculating the profit amount.
 Of course, criticism may be raised that the above interpretation theory is an interpretation that goes beyond the possible scope of legal text. Therefore, under the current Act, in order to apply the Criminal Act on the basis of balance of criminal punishment and accountability, Article 3 (1) of the Act’s “value of property or property profits” shall be interpreted within the limit of the profits amount acquired through actual profit, but ultimately, Article 3 (1) shall be amended to ensure that the Criminal Act is applied in accordance with balance of criminal punishment as well as accountability based on the profit amount obtained without any controversy.

ОБЛІК І АНАЛІЗ ФІНАНСОВИХ РЕЗУЛЬТАТІВ В СУЧАСНИХ УМОВАХ ДІЯЛЬНОСТІ ПІДПРИЄМСТВ

Indexes that characterize the results of financial and economic activity of enterprises are the important informative base for acceptance of effective administrative decisions, for these reasons in the modern terms of management primary take an attention an account and analysis of financial results with aim of recreated the production and socio-economic development of territories and country in a post-war period. Research aim is there a forming of modern indexes for evaluation of financial results of enterprises activity in accordance with the requirements of recovering a production, development in post-war period and also European and International standards of record-keeping and audit. The methodological basis of research became modern international and national models of account and analysis of financial results of enterprises activity. In the conducted researches used methods of dialectic, methods and principles of scientific cognition, instruments of economic analysis for forming of certain methodologies of account, analysis and evaluation of activity financial results that allow accepting correct administrative decisions in a post-war period of recovering the economy of country. The basic hypothesis of research is there supposition that the account of the improved and complemented indexes of evaluation the financial results of enterprises activity will allow to get necessary information about socio-economic renewal of country and its separate regions in a post-war period and to approach the socio-economic standards of development to the level of European Union. Exposition of basic material of research. The modern registration policy of enterprises foresees application and determinations of financial results in obedience to rules and principles of National positions and its accordance to the International models and systems of account and analysis of enterprises activity that to examine the financial result of enterprises activity as final category of effectiveness of economic activity that represents the size of economic values, characterizes potential of profitability, economy growing and development of enterprises. The most important step is expansion of researches of effectiveness by an improvement and use of efficiency indexes, profitability of property and adopted asset, assets of enterprise for the aim to receipt a complex information about forming and drawing on financial results in the cut of types of activity, segments of production orientation, markets of sale, determination of the own financial resources state, efficiency of its use and prospects of development in the cut of those signs, that characteristic exactly for a concrete enterprise. Marked necessity of account the institutional and economic features of enterprises activity, territorial signs of forming of profits, charges and financial results, that will allow strengthening addressees and relevant of accounting information in a management effectiveness by enterprises activity. Originality and practical meaningfulness of research are confirmed by offered by directions of improvement the indexes of analysis and evaluation of financial results in accordance with the requirements of modern socio and economic development of Ukraine economy, to the International standards of account and European unions. Conclusions and prospects of further researches. The conducted research allowed establishing that a financial result is a complex concept that summarizes effectiveness and efficiency of functioning of enterprise and difficult registration work, receipt of expedient, objective information. Forming of financial results of enterprises activity is proceeding for the acceptance of administrative decisions. In an account and analysis of financial results it follows to take into attention the specific of forming the results of activity. And also to take in attention a necessity of including to the indexes of accounting and effectiveness such, that estimate an ethic, public utility, social justice, improvement of welfare of population, unconcern of natural environment and public responsibility. Further researches will be sent to the improvement of administrative account in relation to search the indexes of evaluation the results of enterprises activity most close to the requirements of European society and necessities of Ukrainian public.

Pengaruh Likuiditas, Solvabilitas dan Aktivitas Terhadap Profitabilitas: Bukti Empiris pada Perusahaan Properti dan Real Estate yang Terdaftar di Bursa Efek Indonesia

This study aims to determine the effect of Liquidity, Solvency and Activity on Profitability of Property and Real Estate Companies Listed on the IDX either simultaneously or partially. The research method used in this research is quantitative with data collection techniques through financial statement documentation, then analyzed using multiple linear regression. The population in this study are Property and Real Estate Companies listed on the IDX for the period 2014-2017 with a sample of 24 companies. The results of the study show that (1) simultaneously Liquidity, Solvency and Activity have a positive and significant effect of 39.1% on Profitability in Property and Real Estate Companies Listed on the IDX. (2) Partially, Liquidity has a positive but not significant effect on Profitability, Solvency has a negative but not significant effect on Profitability, and Activities have a positive and significant effect on Profitability in Property and Real Estate Companies Listed on the IDX.

Pengaruh Perputaran Modal Kerja dan Perputaran Persediaan Terhadap Profitabilitas Perusahaan Properti dan Real Estate yang Terdaftar di Bursa Efek Indonesia

This study aims to test whether working capital turnover has a negative effect on profitability and inventory turnover has a positive effect on the profitability of property and real estate sector companies listed on the IDX for the 2014-2018 period. This study has one dependent variable, namely profitability and five independent variables, namely working capital turnover, inventory turnover, asset turnover, short-term bank loans, liquidity and mark up. The sampling method used the cross-sectional technique, with a sample of 210 companies in the 5 years of the study. The results of the study found that working capital turnover has a negative effect and inventory turnover has a positive effect, asset turnover has a positive effect, short-term bank loans have a negative effect, while liquidity and mark-up have a negative effect on company profitability. This shows that the lower the working capital turnover of a company, the lower the company's profitability, the smaller the inventory turnover rate, the higher the company's profitability, the higher the asset turnover, the better the company's ability to generate profits, the higher the company's short-term debt. the lower the company's profitability, the higher the liquidity and mark-up, the more difficult the company's ability to generate high profits.

Правовая политика антисоветских правительств в налоговой сфере в годы гражданской войны в России

Introduction: there have been written numerous works about the White movement, but the problems of state regulation of taxes remain unexplored in the historical and legal science.Purpose: this paper aims to study the main directions in the legal policy of anti-Soviet governments in the tax sphere and to determine its impact on the viability of state entities of ‘White’ Russia.Methods: dialectical, formal-logical, functional, and other general scientific research methods; special legal methods: comparative legal and formal legal.Results: we have examined the organization of the tax service, the problems of taxation and collection of taxes and fees; identified the main reasons for the failure of the legal policy of the White governments in this sphere; formulated conclusions about the impossibility of a radical change in tax legislation in the context of the civil war. Conclusions: tax legislation of the White governments was based on the laws of the former Russian Empire and the Provisional Government, with some adjustments being made in accordance with the conditions of the time. The pre-revolutionary tax apparatus was used to collect tax revenues without major changes in its structure. The rising inflation forced the legislators to increase the tax rates, introduce new sources of taxation, and revise tax benefits, with the main focus on the collection of indirect taxes. Since it was impossible to implement fundamental reform of the tax system, there were only made minor changes resulting in the convergence of direct taxes and property taxation. However, the tax authorities turned out to be unable to calculate and assign direct taxes in a timely manner, which was due to the unstable value and profitability of property, rapidly changing in the conditions of galloping inflation. For fear of growing social discontent, the amount of non-taxable income of working citizens was increased threefold, with the function of collecting taxes assigned to the administration of enterprises and institutions. The budgets of the municipalities dragged out a miserable existence since, according to the legislation, they were formed based on a residual principle. The population evaded the voluntary payment of taxes, and the legal policy was based on the use of forceful methods of tax collection with the police and military teams involved.

The Effect of Company Specific Factors on the Profitability of Property & Casualty Insurance industry in Egypt

The aim of this study is to determine the factors that affect the financial performance of insurance market in Egypt. Return on Assets (ROA) and Return on Equity (ROE) were used as proxy for measuring financial performance. This study investigated the effects of company specific determinants such as: leverage, tangibility of assets, liquidity, company size, underwriting risk, and solvency margin on profitability by using multiple regression technique. Dependent variable was profitability measures, while independent variables were leverage, tangibility of assets, liquidity, underwriting risk, company size, and solvency margin. Secondary data obtained from the Financial Regulatory Authority (FRA) of insurance companies in Egypt were investigated as a panel data during the period from 2008 to 2017. The results illustrate that underwriting risk has insignificant effect on ROA, on the other hand, underwriting risk has significant effect on ROE. Liquidity has a negative effect on leverage and solvency margin. Also, there is a positive relationship between company size and ROA. Solvency margin has a positive significant effect on the profitability for Egyptian insurance market. In addition, the adverse and statistical relationship between solvency margin and leverage is important.

LACK OF ATTENTION TO GEOLOGICAL CONDITIONS INVESTING IN LAND PLOT FOR CONSTRUCTION

Abstract Decisions – where and what type of building to build – are very important, determine the quality of life of residents, profitability and returns of companies. Considering of long-term asset acquisition decisions, purchasers or investors seek for proper and worth to invest land plot for construction. In real estate valuation literature usually the list of 7 or 12 factors influencing value and price of land plot is presented and broadly discussed. Certain factors raise property prices and others bring them down. Despite its importance, the influence of geological conditions on the appraised land plot are seldom investigated. Authors discuss how strongly land plot geological conditions can affect costs of prospect construction, thus decrease net present value of real estate investment project and profitability of property. In this paper the implication of negligence or underestimation of soil conditions valuation is highlighted and illustrated by case studies which show how such inobservance has resulted in a huge rise of unexpected costs of construction and loss of time.

Assessment of the impact of the duration of construction on the effectiveness of the investment project

The article discusses the relevance and necessity of assessing the impact of the duration of construction on the economic efficiency of investments. Using a mathematical expression, the profit received by the investor during the life cycle of the direct investment process is described. The peculiarity of investment projects involving the creation of capital investment (real estate), is the period of time during which profit is impossible. This period of time is equal to the duration of construction, including installation of technological equipment and commissioning. An analytical description of the degree of influence of the duration of construction on the indicators of economic efficiency of the investment project (profitability and profitability of property) is proposed. On the basis of the learned expressions, a numerical experiment was performed and graphs were constructed. The results of the research prove the possibility of analytical description of the degree of influence of the duration of construction on the quantitative indicators describing the investment project (profitability (Bank interest), profitability of the created property). It seems that the described approach allows to carry out forecasts which reliability surpasses the results obtained, for example, by means of expert estimations. The proposed mathematical apparatus is much simpler than the methods of probability theory and fuzzy set theory.

The Effect of Liquidity and Leverage on Profitability of Property and Real Estate Company in Indonesian Stock Exchange

The objectives of this research were to know and analyze the effect of leverage and liquidity simultaneously and partially on profitability at go public real estate and property company in Indonesian stock exchange within the period of 2005 until 2010. In detail, this research aims were: 1) to know the effect of liquidity and leverage on profitability of property and real estate company in Indonesian stock exchange, 2) to know the effect of liquidity on profitability of property and real estate company in Indonesian stock exchange, and 3) to know the effect of leverage on profitability of property and real estate company in Indonesian stock exchange. Based on purposive sampling technique, this research determined 43 companies as research population, since 16 companies provide a comprehensive and complete financial report within the period of research. The data was analyzed using SPSS version 16 with multiple linear regression test. The result showed that: 1) leverage and liquidity simultaneously have significant effect on profitability, 2) liquidity have an effect partially on profitability, but the effect was not significant, 3) leverage have a significant effect on profitability partially.Int. J. Soc. Sc. Manage. Vol. 3, Issue-4: 300-304

Calculating the Rate of Return of Non-Life Insurance Companies: Some Clarifying Comments

Since the publication of the Little Report, there has been extensive discussion in the Journal and elsewhere on the important issue of calculating the profitability of property and liability insurers. Most of the discussion has centered on defining appropriate risk and return measures in order to ascertain the industry's profitability relative to that of other major industries. While it is generally agreed that inter-industrial comparisons need to be set within a risk-return framework, emphasis on devising comparative measures has resulted in some miscalculation of insurance company rates of return. This communication attempts to resolve some of the issues raised when calculating the rates of return for nonlife insurers and to present an accurate measurement procedure. The paper will also point out defects in recently published articles, which arise in part from a failure to relate profit ratios to the compound interest assumptions which underlie their use. From an economic point of view, the most meaningful rate of return measure, rt, for a general insurance company over a typical year is given by: