Auswahl der wissenschaftlichen Literatur zum Thema „Projected income statements“

This project is intended to teach students to apply the material covered in their first graduate accounting course. This is accomplished by applying the material to an actual company selected by each team. The project is described as follows: The project includes a computerized spreadsheet preparation of a master budget forecast for an actual publicly traded company for one year into the future. . The dates depend upon when the annual reports are prepared for your company. The forecast begins the day following the last available published annual report. The forecast does not comprise any actual numbers regardless of when the actual annual or quarterly statements are prepared for the company selected. The actual balance sheet, income statement and statement of cash flow from the preceding year are included with the forecasted balance sheet, income statement and statement of cash flow. The company must have a physical inventory, and accounts receivable from sales. The company may not be one in which any team member(s) are employed. The forecast will include the following items:1. Introduction, including the history of the company and a description of the company plan and policies as given in the project2. Sales budget (twelve months).3. Schedule of purchases (twelve months).4. Schedule of collection of credit sales (accounts receivable) and cash sales (twelve months).5. Cash budget (twelve months).6. An Income statement (for the current year and the projected year).7. A Balance sheet (for the current year and the projected year).8. A Statement of cash flow (for the current year and the projected year).9. Cost-profit-volume analysis (twelve months).10. Conclusion and recommendations

This paper describes an instructional case that uses historical documentation to enable the reader to consider his/her own responsibility for the preparation and reporting of information. In this case, the reader is provided a summarized income statement. Then, as detailed information about the financial statement is introduced, the reader is asked to consider the ethics of preparing and using the statement. The financial statement represents a projected income statement for a Holocaust camp prisoner during World War II. The statement includes anticipated revenue from the selling of body parts upon the prisoner's death, estimated as nine months from the time of arrival at the camp. Usage of the case should develop a reader's understanding that accountants' responsibility for the preparation of information should not be separate from what the information reports or the intended use of the information.

This study tested the Influence of Corporate Governance and Shariah Compliance on Financial Statement Fraud in Sharia Commercial Banks in the Period 2015-2019. Independent variables in this study are Corporate Governance and shariah compliance projected with Islamic Income Ratio, Profit Sharing Ratio and Islamic Investment Ratio. While the dependent variable used is Financial Statement Fraud in sharia commercial banks. The population in this study was all Sharia Commercial Banks (BUS). Sampling techniques using purposive sampling method. The number of samples as many as 12 Islamic commercial banks with a lot of data 60. The results of this study show islamic income ratio affects Financial Statement Fraud, while Profit Sharing Ratio, Islamic Investment Ratio and Corporate Governance have no effect on Financial Statement Fraud.

ABSTRACT This research was conducted to analyze the implementation of financial projections as a financial management strategy at PT. PLN (Persero). The population of this study is the financial statement of PT. PLN (Persero) 2014-2018. Sampling was carried out using purposive sampling method. The sample used was 5 years of financial statement. The data analysis method used is quantitative descriptive analysis technique, which is an analysis that describes by calculating the company’s financial projections report using certain formulas. Financial projection indicators used in this study use growth rate method to determine sales projections and common size analysis to determine the project balance sheet and income statement. Based on the results of the study showed an increase in sales projection of 16%, as well as balance sheet and income projections which both experienced an increase of 18% for the projected balance sheet and 5% for the profit and loss projection. ABSTRAK Penelitian ini dilakukan untuk menganalisis implementasi financial projection sebagai strategi pengelolaan keuangan pada PT. PLN (Persero). Populasi dari penelitian ini adalah laporan keuangan PT. PLN (Persero) Tahun 2014 – 2018. Penarikan sampel yang dilakukan menggunakan metode purposive sampling. Sampel yang digunakan sebanyak 5 tahun laporan keuangan. Metode analisis data yang digunakan adalah teknik analisis deskriftif kuantitatif, yaitu suatu analisis yang mendeskripsikan dengan cara menghitung laporan proyeksi keuangan perusahaan menggunakan rumus-rumus tertentu. Indikator financial projection yang digunakan dalam penelitian ini menggunakan metode tingkat pertumbuhan untuk mengetahui proyeksi penjualan dan analisis common size untuk mengetahui proyeksi neraca dan laba rugi. Berdasarkan hasil penelitian menunjukkan peningkatan pada proyeksi penjualan sebesar 16%, begitu pula dengan proyeksi neraca dan laba rugi yang sama-sama mengalami peningkatan sebesar 18% untuk proyeksi neraca dan 5% untuk proyeksi laba rugi.

The valuation process of companies is essential for investors to estimate the fair value of a company. Once it has been established, it is possible to compare with the market value and thus judge whether an asset is cheap, fair or expensive. There are several methodologies for calculating the valuation of a company, among which the following stand out: method of market multiples; discounted cash flow method; method based on the book value. In this sense, the present work aims to evaluate the fair price of the shares of Itaú Unibanco bank (ITUB4) through the discounted cash flow method. For this, data about the company were used from the balance sheet and the statement of income for the year, made available on the internet by the bank. After these data analyzes and the establishment of some assumptions, the cash flow for the next 10 years was projected. From this, the flows were brought to present value, to calculate the fair price of the company's shares, using an appropriate discount rate. As a final result, the model indicates that the shares are undervalued by the market, that is, they are cheap and with a growth potential of 32%.

Abstract. Introduction. Researchers and banking practitioners pay considerable attention to the analysis of the impact of inflation on the banking sector. The statement of the scientists as to the nature of inflation, corresponding to the modern development of the economic processes, is an approach to the origin of inflation based on the imbalance in money supply and demand. Purpose. During 2014-2017, the political and economic crises in Ukraine led to imbalances in the main macroeconomic proportions, which negatively affected the development of the banking system and, as a result, caused rising of the inflation rate, cash outflow, increasing dollarization and declining purchasing power. Inflation processes had a negative impact on the banks’ performance, namely, the rise in inflation reduced lending and interest income and increased interest expenses, what, therefore, reduced banks’ net interest income. Results. While assessing the impact of inflation on the banks’ performance, it was determined that 2019 was a year of the banks’ performance record. According to the statistics, when the inflation rate fell to record low of 4.05%, BSU’s profit in 2019 reached a historic high: solvent banks received UAH 58.36 billion of net profit, which is 2.7 times higher than the previous year historical record. Thus, the implementation of the NBU’s stimulating monetary policy contributes to the achievement of the projected social and economic goals of the society and is an essential factor in ensuring the stability of the banking system, creating the appropriate basis: price stability and low inflation in the long run. Conclusions. According to the results of the analysis, it is possible to state that in 2020 and in the coming years, due to the qualitative monetary policy of the NBU and a decrease in inflation, there is a reason to expect an increase in net profit of the banking system in Ukraine. This positive trend will renew the banking sector in Ukraine, which will lead to its profitability and efficiency. Keywords: inflation, inflation component, inflation targeting, monetary policy, banks’ performance, lending.

Tujuan penelitian – This analysis aims to know the market opportunity, and what marketing strategy to be applied which has impact on enhancing sales, profitability and financial feasibility of this new business.Metode Penelitian - The data used in this analysis is the projection data which is based on market prices this moment, and the price projected for the next five (5) years. Method used in determining market opportunity, and sales projection is opinion method both from the owners it self and the marketer, and methods of experiment and market survey. Methods used in determining the financial feasibility are Prsent Value (NPV), Profitability Index (PI), Payback Period, and Average Rate of Return (ARR). In enhancing sales, profitability and financial feasibility of this new business it must be supported by an oppropriate marketing strategy (Prduct, Price, Distribution and Promotion strategies).Temuan - The result of market opportunity analysis supported by an appropriate marketing strategy shows that this busniness is feasible. Potensial market/consummers at the first year (2018) is 4.800, and it will increase to 11.520 in 2022, with an average growth of 25% per year. In according to the potential market above, the revenue form sales in 2018 is projected Rp 312.000.000, and it will increase to Rp 864.000.000 in 2022, with an average growth of 29% per year. In line with the above sales, as shown in Pro Forma Income Statement, this business is gaining net profit Rp 48.450.680 in 2018, and it will increase to Rp 451.266.023 in 2022, with an average growth of 76.6% per year. Using the investment criterions such as Net Present Value, Paybak Period, Profitability Index, and Average Rate of Return to measure its financial feasibility, this business is feasible. The NPV is positive, and PI > 1, ARR is 391.1% (3.91), while the Payaback Period is only 1 year and 0. 2 month.Keterbatasan penelitian - The limitation of this analysis is that it focus on a case, and future projection may be affected by future changes in external factors.Kata Kunci: Market Opportunities, marketing strategy and Financial Feasibility (NPV, PI, Payback Period, and ARR)

The subject content of the work is domestic innovative development, the theme – scientific and technological aspects, and purpose – consideration of the determinants of the current Strategy until 2020 and prospective one – anticipated Strategy until 2030. The Methodology of work is the application of elements of system analysis (taken and expected government decisions) in the field of innovation research and technological development relating to directions, outcomes, determinants, indicators, challenges and priorities. The research is based on the general scientific method (problem statement, information-analytical generalizations, classification and analogies, analysis and synthesis, inductive-deductive approach). The results of the work consist in the formulation of scientific and technological determinants of innovative development. The application scope of the results is the strategy of innovative development until 2030. Conclusion. The strategy of innovative development until 2020 takes into account the bases of strategic planning and scientific and technological development of the country, the selected model and the tempos of innovative development take into account the world experience and domestic characteristics, aimed at parity-adapted integration into the world economy, contribute to reducing the retardation from developed countries. Step-by-step formulation of scientific and technological determinants of innovation Strategy until 2030 can be expected from the discussed draft Program «Scientific and technological development of the Russian Federation for 2019–2030». For comparative and analytical clarification of the development model (within the framework of the Strategy until 2030), it is important to display its innovative characteristics (scientific and technical novelty, satisfaction of market demand, tradability) against the background of global trends and projected features of the «road map» of the new technological mode. At the same time, the scientific and technological determinants of innovative development will definitely remain trans-parently oriented priority areas for the development of science, technology and technology, critical technologies and technological platforms. In addition, due to the multiplicative role of attracted investments in the growth of national income and employment, it seems promising to continue to remove obstacles to the development of public-private partnerships; although, in order to increase the level of technological development of the private sector and change for the better the unsatisfactory financing of R&D by business, in the foreseeable future, limited state protectionism is intended to initiate demand for innovations.

Purpose – The purpose of this paper is to address the apparent slow acceptance on the part of developers located in the USA to seek green certifications. If green-certified construction costs more than non-green construction, then is there a financial reason for not seeking a green rating. Do green buildings perform better than non-green buildings financially? The paper develops and presents a discounted present value model for doing a cost-benefit analysis for building green. This model enables an investor to determine the feasibility of constructing a new green-certified building instead of a conventional non-green building. Non-green buildings are not certified by a rating agency such as Leadership in Energy and Environmental Design (LEED), Energy Star or Building Research Establishment Environmental Assessment Method (BREEAM). Real estate permits are granted by local municipalities in the USA. This means that local government mandates requiring green construction that significantly adds to the initial cost of a project could have the unintended result of encouraging new non-green construction just outside their municipal boundaries. Design/methodology/approach – The paper collects publically available research data for office buildings located in the USA, and inputs this information into an income statement. It tests the hypothesis: is green-certified construction a financially feasible choice for an investor? An incremental approach using a 15-year holding period is presented. This time period takes into account equipment wear and tear. Heating/cooling systems and other green-technologically based operating systems have a limited life and do not last for 30 or 40 years. They are likely to need replacement after 15 years have lapsed. Findings – The negative net present value (NPV) results and high payback periods indicate that increased rents for green construction, a tax credit for the present value loss and/or property-tax reduction covering the shortfall is needed as an incentive to commercially build green. The implication of a negative NPV is that green office buildings will be built by government agencies where green is mandated, corporations that want a green image and benefit from this image, where local ordinances mandate green construction features and where local and federal tax incentives are available increasing a construction project's feasibility. Research limitations/implications – The limitation of any cost-benefit study is that analytical models and/or data used to forecast energy and water consumption savings in green-certified buildings compared to conventional buildings can be inaccurate. Forecasting models can understate or overstate the actual savings realized from green construction especially in the long-term given the difficulty of predicting equipment wear and tear, net rents and energy costs. The modeled percentage cost associated with green new construction features could remain constant or grow through time. Tables I and II results assume energy and water expenses remain a constant percentage over the 15-year period. The agency costs associated with obtaining a LEED or BREEAM certification was not calculated as an upfront cost. Certification by LEED or BREEAM increases the upfront cost associated with building a green building. Practical implications – The length of the payback period estimates coupled with negative NPV for green certified compared to non-green construction suggests that developers do not have an incentive to build green. Higher WACC rates would result in green-certified projects being less feasible to build. Social implications – The LEED certification point system may need to be reviewed. Points are assigned for features that improve occupant satisfaction, but may have little impact on reducing energy usage. Originality/value – A model is presented for determining whether green-certified construction is financially feasible. The model enables the investor to determine the size of a tax incentive that is needed to enable new green construction to be economically feasible to build. The higher the negative NPV the larger the income or property tax incentive or other financial incentives needed. Prior research studies compared green and non-green buildings, but did not compare the energy savings generated to the additional construction and upfront costs incurred using a discount rate. They assumed the energy savings justified the additional initial cost associated with building a new green certified.

Actuality of the research topiс. Strategic priorities of world labor market development in the first quarter of the 21st century are shaped under the impact of a range of multidirectional actions factors – from globalization and respect for the open economy principle by majority of the world countries to neoprotectionism which is becoming more widespread in foreign economic policy of developed countries of the world. Each country which observes the market-based principles is closely linked to the world labor market via labor force resource and labor migration processes. These ties are constantly strengthening as countries obey international law, consider international labor market regulatory mechanisms in their national governance practice, and introduce the best world examples of institutional support for employment, unemployment reduction, labor migration regulation and counteracting all forms of discrimination at labor market. Respect for strategic priorities of world labor market development is of actual importance for all world countries, including Ukraine which for the last five years has significantly expanded labor migration flows and become the active participant of world labor market. Analysis of recent research and publications. Considerable contribution to the study of current situation and defining the newest world labor market development trends in the 21st century was made by profound Ukrainian scholars like A.Philippenko, O.Hrishnova, O.Malinovs’ka, E.Libanova, A.Dembitska and others. Among the foreign scientists who researched the core and main patterns of world labor market development within globalization we should mention G. Borjas, Y. Jansen, R. Celikates, J. de Bloois, A. Zolberg, E.Meyers, P. Wickramasekara, A. Zogata-Kusz etc. Extraction of unexplored parts of a common problem. Scope of the study into the core and constituencies of world labor market are pretty fully highlighted in the world economic literature. Yet, to define strategic priorities of world labor market development it is especially important to study the impact of institutional and organizational and economic tools of international organizations activity on world labor market regulation and development. This issue is an important component of international economic relations. Statement of the research purpose and tasks. The purpose of the study is to examine commonality and define strategic priorities of world labor market development in the 21st century. To achieve it the following tasks are set and resolved in the article: - to research the factors affecting world labor market reforming and defining the priorities of its development; - to research institutional and legal, organizational and economic mechanisms of international organizations impact on regulation and unification, defining strategic priorities of world labor market development; - to reveal the newest trends of world labor market development which are shaped under structural and innovative changes, countries’ transition to ‘Industry 4.0’, as well as under impact of labor migration processes. Method or methodology of the research. While defining strategic priorities of world labor market development a set of theoretical and empirical scientific research methods are used. Revealing institutional factors affecting world labor market development, historical and logical methods, methods of synthesis and analysis, abstract and specific methods, and cause-effect method are used. To research the impact of institutional and legal, organizational and economic mechanisms on world labor market historical and logical methods, methods of induction and deduction, methods of classification and generalization are employed. Whereas methods of synergy and expert estimates, casual method are used to justify the innovational processes and labor migration impact on shaping strategic priorities of world labor market development. Presentation of the main material (research results). World labor market is a complex economic system modified under dynamics of supply and demand for labor resources at the world market; under the impact of labor force price charges specificity, terms and pay level formation, as well as social security peculiar nature; qualitative and quantitative mobility and placement of labor force in different world countries; differences in national approaches to labor force reproduction, their professional training and qualification improvement. Within globalization national labor markets lose their closeness and remoteness, becoming constituent part of world labor market. Strategic priorities of world labor market development are shaped under the impact of a range of multidirectional actions factors: globalization and national economy openness, neoprotectionism, structural and innovational changes in world economy, countries’ transition to ‘Industry 4.0’. It occurs due to labor migration activization and enhancing the role of international organizations as coordinators of international economic relations development. Strategic priorities of world labor market development are strongly affected by the international organizations which set standard rules of the game for all countries of the world both at local and world labor markets. Among the priorities the following ones are particularly important: protecting the rights of the employed, unification of system of remuneration and taxation, establishing social guarantees and social security, procedures of admission and dismissal, preventing all forms of discrimination and legal employment. Transition to a 4-day working week is of reality for developed countries of the world. Working terms under freelance system are standardized, as well as for those who work from home in services and within the norms of creative economy. The 21st century faces the growth of labor force mobility, unification of labor migrants’ rights security, labor standards and salary conditions, guaranteeing labor migrants’ social protection. Institutional and legal, as well as organizational and economic security of national labor markets of the world countries is gradually harmonized and unified with world standards implemented by international organizations. International organizations shape the newest trends of world labor market reforms. Organizational forms of world labor market in the 21st century include elaboration and adoption of institutional and legal norms of world labor market development provision; indicative planning (forecasting); defining strategic priorities and long-term purposes of world labor market development; administrative regulatory methods (including fines, penalties, licenses and sanctions). The role of international institutional and financial assistance is growing via consultations, forums, technical aid and recommendations, as well as target-projected financing, grants, free humanitarian and other financial assistance. World labor market is a subject to regular international monitoring, system of international control on the development aimed at prevention all forms of discrimination, human rights and freedoms violation (including labor force and employees), child exploitation and human trade at the world labor market. Strategic priorities of world labor market reforms involve measures directed at employment legalization, preventing human trade and illegal labor force exploitation, avoiding child labor exploitation, preventing all forms of discrimination and ‘shadow economy’ features in recruitment and income generation, protection of employees and labor migrants’ rights and freedoms at world labor market. Reforming Ukrainian labor market as a part of world labor market demands for such strategic priorities as implementation of international standards on the employees’ rights security in Ukraine, pay rise in accordance with EU countries standards, prevention of discrimination and ‘shadow economy’ features at labor market, legalization of employers’ and employees’ income, protection of their rights and freedoms, social securing of their guarantees, as well as the ones for employed migrants working at Ukrainian labor market and Ukrainian labor migrants abroad. The field of the results application. International economic relations and world market. Conclusions according to the article. Trends of world labor market development are correlated with general trends and directions of economic cycle stages (recession, depression, growth and peak), whereas depending on demographical situation in the country and the world, character and dimension of countries’ economy structural transformation and integrational world countries grouping. Basic trends of world labor market development in the 2010s include system of remuneration reforming, moving to general growth in pay rise while freezing substantial discrepancies in wages and salaries between developed and developing countries of the world. The essential trend of world labor market is activization of labor migration processes both at the markets of developed and developing countries. Labor migration in the 21st century is mostly of legal official character, though their segments alter towards growth in demand for labor force at the EU and Asian markets. The demand for highly skilled professionals whose activity is close to innovations is rising dynamically at the world labor market.

This master's thesis is focused on drafting corporate financial plan for a selected company which is Drevopal, s. r. o. The diploma thesis consists of 3 parts. The first is the theoretical part which contains the theoretical basis for creating a financial plan. The next part presents and analyzes the company Drevopal, s. r. o. The company's analysis consists of a strategic and financial analysis for the period 2015-2019. In the last part, the financial plan of the company is created in two variants, optimistic and pessimistic.

The master’s thesis is focused on the draft of a financial plan for a real company for four future periods. The first part of thesis is dealing with theoretical aspects, which are necessary to know for setting up a financial plan. This part is followed by a practical part, which includes presentation of the company, its contemporary state’s and its business environment’s analysis. In the end financial plan is proposed in two variants.

The thesis focuses on the issue of the comprehensive income statement which has been recently included into the financial statements set of IFRS, following the example of US GAAP. In the theoretical part there are outlined various factors which influence the reporting of the comprehensive income and the final form of the statement. The thesis particularly compares reporting of the comprehensive income according to US GAAP and IFRS. In the practical part, the difference is shown on the example of two companies, each reporting in accordance with mentioned accounting systems.

This master thesis deals with the proposal of a company financial plan. In the first part are defined the theoretical principles of financial planning. The second part of the thesis focuses on the introduction of the selected company, which is followed by strategic and financial analysis of the current situation. Subsequently, the work compiles a financial plan for both optimistic and pessimistic option for the period 2019-2022. At the end of the work is made an overall evaluation of the company financial plan.