scholarly journals Usklađenost regulatornog okvira računovodstva dugotrajne materijalne imovine poduzeća u Republici Hrvatskoj i Bosni i Hercegovini

2021 ◽  
Vol 11 (1) ◽  
pp. 3-18
Author(s):  
Željana Aljinović Barać ◽  
Tea Porobija
Keyword(s):  
Real Estate ◽  
Bosnia And Herzegovina ◽  
Financial Statements ◽  
Regulatory Framework ◽  
Fixed Assets ◽  
Real Estate Investments ◽  
Scientific Context ◽  
The Subject ◽  
The Republic ◽  
Accounting Recognition

The subject of this paper is to determine the level of compliance or harmonisation of the applicable regulatory framework (accounting standards) in the recognition and measurement of various categories of fixed assets in the Republic of Croatia (RH) and Bosnia and Herzegovina (BiH). The conducted research established a 93% compliance of the regulatory framework and proved that the regulatory framework of accounting recognition and measurement of fixed assets in the Republic of Croatia and Bosnia and Herzegovina coincided in 13 of the 14 analyzed areas of valuation of fixed assets. Empirical verification of the used accounting policies among listed companies in the Republic of Croatia and Bosnia and Herzegovina confirmed the existence of significant differences in the accounting policies of valuation of real estate, plant and equipment and agriculture, in particular biological assets. On the other hand, in the area of subsequent valuation of real estate investments, applied depreciation methods and valuation of agricultural products derived from biological assets, we found that statistically significant differences in the used accounting policies between companies in the Republic of Croatia and Bosnia and Herzegovina did not exist. The obtained results should primarily facilitate the comparability of financial statements of companies in the Republic of Croatia and Bosnia and Herzegovina, and thus consequently and positively affect the increase in capital flows between these two neighbouring countries. In the scientific context, this research represents a significant contribution to the scarce literature on this topic.

scholarly journals Charakter prawny ograniczeń sposobu korzystania z nieruchomości w związku z ochroną zasobów środowiska – refleksje na temat art. 129 Prawa ochrony środowiska

2019 ◽  
Vol 16 (1 (3)) ◽  
pp. 185-198
Author(s):  
Sławomir Pawłowski
Keyword(s):  
Real Estate ◽  
Property Rights ◽  
Environmental Law ◽  
Public Law ◽  
Environmental Resources ◽  
Legal Nature ◽  
The Subject ◽  
The Republic ◽  
The Right ◽  
Right Of Property

The subject of the discussion is the legal nature of restrictions on the use of real estate in relation to the protection of environmental resources. Art. 129 of Environmental Law can have the effect that the use of a property or its part is impossible or substantially reduced. In doctrine, the dominant view is that such public-law interference in the right of property assumes the form of restriction referred to in Art. 64, par. 3 of the Constitution of the Republic of Poland. Another interpretation is also possible. Since the depth of the interference with property rights can lead to the effect that this property will become, as the Ombudsman has pointed out recently, “useless” to the owner, it would be reasonable to consider whether or not such property is de facto being expropriated. In such a case, the standard of constitutional control would be Art. 21, sec. 2.

scholarly journals The scope and limitations of external audit in detecting frauds in company’s operations

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dragomir Dimitrijevic ◽  
Biljana Jovkovic ◽  
Suncica Milutinovic
Keyword(s):  
Bosnia And Herzegovina ◽  
Financial Statements ◽  
Mean Value ◽  
Financial Statement ◽  
External Audit ◽  
Content Type ◽  
External Auditors ◽  
The Republic ◽  
Practical Implications ◽  
Early Detection And Prevention

Purpose This study aims to investigate what are the capabilities and limits of external audit in detecting frauds in companies operating in the territory of the Republics: Serbia, Croatia, Macedonia and Bosnia and Herzegovina. Design/methodology/approach In total, 51 certified auditors from Serbia, Croatia, Macedonia and Bosnia and Herzegovina were surveyed to analyze what are the most frequent warning signals of the existence of the frauds auditors encounter during the verification of company’s financial statements. Findings The study indicated that the auditors of the Republic of Serbia more often encountered groundless overstatement of revenues compared with other countries, while regarding manipulative representation of inventories, the largest mean value and median are still among the auditors of the Republic of Serbia. Practical implications Based on the research results, it can be concluded that it is necessary to expand the legal obligation and power of external auditors when, in financial statement auditing, they come to clear findings that indicate fraud. Expansion of external auditors’ powers would reduce their current limitations and expand the domain of action. Originality/value Limitations in external auditors’ work prevent the processing of frauds. However, auditors’ analysis of financial statements and pointing to potential irregularities can be a good manner for the early detection and prevention of frauds in company’s operations.

scholarly journals Je li Zakonom o cestama 2011. godine (ipak) provedeno faktično izvlaštenje vlasnika nerazvrstanih cesta?

2021 ◽  
Vol 41 (3) ◽  
pp. 803-825
Author(s):  
Frane Staničić
Keyword(s):  
Real Estate ◽  
Public Good ◽  
Constitutional Court ◽  
Legal Question ◽  
Technical Character ◽  
The Subject ◽  
The Republic ◽  
The Moment

When the Roads Act came into force in 2011, its provisions specified that unclassified roads are to become public good in general usage in inalienable property of municipalities on which territory they lie. Of course, the question arose whether de facto expropriation of landowners of real estate of which unclassified roads are made of was carried out by this Act. The Constitutional Court of the Republic of Croatia took the view, in its decision in the procedure in which the constitutionality of the Roads Act was challenged, that the disputed provisions of this Act are only of legal-technical character and that they did not establish ownership over unclassified roads. This legal question is of paramount importance for (previous) owners because it is important (and) in the context of determination whether the statute of limitations for claims for compensation for de facto expropriation has expired. In the paper the author critically analyzes the decision of the Constitutional Court and finds that it is flawed, namely the author establishes that the Roads Act truly established ownership over unclassified roads and that the disputed provisions that were the subject of constitutional control did not have mere legal-technical character. In this context, the author finds that de facto expropriation was indeed carried out by the Roads Act and that coming into force of this Act should be observed as the moment from which the statute of limitations for claims for compensation for expropriation carried out by it began to run.

scholarly journals LEGAL MORTGAGE MODUS ACQUIRENDI

2019 ◽  
Vol 1 (40) ◽  
Author(s):  
Radenko Jotanović
Keyword(s):  
Economic Development ◽  
Real Estate ◽  
Bosnia And Herzegovina ◽  
Financial Institutions ◽  
Contract Law ◽  
Court Decision ◽  
Legal Certainty ◽  
The Real Estate ◽  
Maximum Protection ◽  
The Republic

In the Republic of Srpska and Bosnia and Herzegovina, the reformof procedural and material regulations related to immovable property and rightsto nanotechnology has been carried out in order to create favorable conditionsfor economic development. There is no economic or any other development,without credit funds marketed by financial institutions (creditors), who in turnrequire an appropriate waiver of a given fund. The most common means ofsecuring a loan is a mortgage that should provide maximum protection in thesecurity phase, and especially in disbursement. Such a mortgage can only beachieved through the constitutive implementation of the principle of enrollment.Enrolled or registrable mortgage, irrespective of the legal base registration(contract, law, court decision or any other decision of the authority organ),provides legal certainty to all legal entities in real estate. In this context, it isespecially significant that the statutory mortgage must be registered in the publicregister of the real estate and thus equated with all other forms of mortgage inaccordance with the prior tempore potior iure principle.

scholarly journals Real Estate Sale: The Predominance of Economic Substance over Legal Form in Some Jurisdictions is Problematic

2019 ◽  
pp. 233-241
Author(s):  
Mislavskaya N. A. ◽  
Polenova S. N. ◽  
Sotnikova L. V.
Keyword(s):  
Real Estate ◽  
Russian Federation ◽  
Balance Sheet ◽  
Financial Statements ◽  
Legal Form ◽  
Fixed Assets ◽  
The Russian Federation ◽  
State Registration ◽  
Economic Nature

In recent years, when selling real estate objects, Russian organizations use the account “goods shipped” recommended by the national regulator for use in this case, the balance of which in the balance sheet relates to current assets. In connection with the amendments to the Tax code of the Russian Federation, the use of this account is doubtful, as it is necessary to apply the requirement of priority of the economic nature of transactions over their legal form. In practice, most Russian companies are serious about compliance with the requirements of the regulator, as a result of which, actually sold real estate is reflected in the same section of the balance sheet, which reflects the fixed assets only intended for sale. The authors studied the annual financial statements of many major Russian companies, including the provisions of their accounting policies, and the order of reflection in the financial statements of real estate, state registration of a new owner, which occurred in the next reporting period. The study showed that most organizations do not disclose their accounting policies on this issue, which indicates that they follow the recommendations of the regulator, in the minority there are organizations that make the appropriate disclosure of accounting policies, but the position of accounting policies coincides with the opinion of the regulator. In the article the authors suggest ways to solve the situation.

Утицај трезорског система на финансијске извјештаје у јавном сектору // The Influence of Treasury System on Financial Statements in the Public Sector

2018 ◽  
Vol 14 (24) ◽  
pp. 171
Author(s):  
Бобана Чегар
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
Theoretical Basis ◽  
Financial Statements ◽  
The Public ◽  
The Third ◽  
The Subject ◽  
The Republic ◽  
The One

Резиме: Организација трезорског система доста је сложена с обзиром на многобројне функције које се обављају у оквиру трезора. Извршење једне од тих функција подразумијева и евидентирање трансакција у вези са прикупљањем и трошењем буџетских средстава што свакако има посљедице и на финансијске извјештаје буџетских корисника. Предмет овог рада је управо сагледавање утицаја трезорског система на финансијске извјештаје. На основу података прикупљених техником анкетног упитника и на основу метода анализе, индукције и дедукције на примјеру Републике Српске дошло се до резултата који показују да је увођење трезорског система олакшало доношење одлука и повећало квалитет финансијског извјештавања у јавном сектору, али да би превазилажењем техничких недостатака који тренутно постоје ефекти били још већи. У прва два дијела рада пружа се теоријски преглед основа финансијског извјештавања у јавном сектору и трезорског система пословања, док је у трећем дијелу приказана методологија истраживања и резултати до којих се дошло истраживањем.Summary: The organization of the treasury system is quite complex due to the fact that many functions performed within the treasury system. The execution of the one of these functions involves recording transactions relating to the collection and spending budget funds, which certainly will affect the financial statements of budget users. The subject of the paper is a consideration of the treasury system impact on the financial statements. Based on the data collected using the questionnaire technique and based on the methods of analysis, induction and deduction on the example of the Republic of Srpska, we came to the result that indicates the treasury system facilitate decision-making and in the same time increase the quality of financial reporting in the public sector, but if overcome technical deficiencies that currently exist, effects will be even greater. The first two parts of the paper provides an overview of the theoretical basis of financial reporting in the public sector and the treasury system, while the third section presents the methodology and the results obtained during research.

scholarly journals DISTURBED PRECEDENTING OF THE LAW IN PRACTICE OF THE COURT OF BOSNIA AND HERZEGOVINA

2017 ◽  
Vol 3 (9) ◽  
Author(s):  
Milan Blagojević
Keyword(s):  
Human Rights ◽  
Bosnia And Herzegovina ◽  
Crimes Against Humanity ◽  
Criminal Sentencing ◽  
Criminal Proceedings ◽  
European Court ◽  
The Subject ◽  
The Hague ◽  
The Law ◽  
The Republic

The subject of this paper is one model developed in practice of theCourt of Bosnia and Herzegovina, and it is related to unconstitutional retroactiveimplementation of incrimination crimes against humanity. Foundationsof this problem are laid in the decisions of Hague Tribunal, andthen in the decisions of the European Court for Human Rights. These decisionsare afterwards accepted without any critique in practice of the Courtof Bosnia and Herzegovina in criminal proceedings led regarding this incrimination.This is the model of disturbed precedenting of the law. In thepaper this problem has been clarified by the author on one case from theCourt practice, which unfortunately is not the only example in reality. Theessence of this problem is in the Court sentencing verdicts reached againstindividuals. Namely, assertions that widespread and systematic attackagainst civilian population is carried out by the Army and Police of the Republicof Srpska are expounded in these verdicts, but not confirmed by validproofs and arguments. This is the way for criminal sentencing of not onlyindividuals (natural persons) but the Republic of Srpska as well, withoutenabling it to defend itself from such unfounded accusations. When theCourt of Bosnia and Herzegovina is trying to find arguments for such verdictsin the decisions of the Hague Tribunal and in the decisions of theEuropean Court of Human Rights, it is defective since decisions of these internationalinstitutions are defective as well. All this in final can cause seriousconsequences against the Republic of Srpska, which (these consequences)can be not only of criminal nature but of constitutional nature aswell.

Financial natives: Real estate developers at work

2020 ◽  
Vol 24 (3-4) ◽  
pp. 203-224 ◽  
Author(s):  
Fabrice Bardet ◽  
Alexandre Coulondre ◽  
Lucia Shimbo
Keyword(s):  
Real Estate ◽  
Urban Governance ◽  
Financial Industry ◽  
Property Development ◽  
The Real Estate ◽  
Qualitative Survey ◽  
Financial Investments ◽  
Real Estate Investments ◽  
Degree Of Stability ◽  
The Subject

Financialization, even contested, is a major focus of contemporary urban studies. The growing interest of institutional investors in real estate investments has been the subject of in-depth analyses that have suggested the need to critically examine their weight in contemporary urban production. Have investors become the new masters of the urban fabric, to the detriment of historical players such as property developers or local authorities? This article informs the discussion by looking at developers at work and identifying how financial profitability calculations could have invaded their activities. Based on a qualitative survey conducted in France on practising or retired professionals, it shows that there has actually been a surprising degree of stability in professional practices over the past 50 years, even though the economic environment changed at the beginning of the 1990s. Since the origins of the property development sector in France, the real estate firms have had close ties with the financial industry and have been using financial instruments. This is why they were considered as ‘financial natives’, while employees at the operational level remain outside the scope of the colonization of organizations by financial quantifications. The specific nature of real estate work, particularly its political component, means that decisions lower down in these companies cannot be guided solely by financial ratios. The extent of the changes triggered by the massive arrival of financial investments has not been as great as it may seem, since developers appear to have maintained most of their ability to influence contemporary urban governance.

scholarly journals Real Estate Sale: The Predominance of Economic Substance over Legal Form in Some Jurisdictions is Problematic.

2018 ◽  
pp. 1101-1109
Author(s):  
Mislavskaya N. A. ◽  
Polenova S. N. ◽  
Sotnikova L. V.
Keyword(s):  
Real Estate ◽  
Russian Federation ◽  
Balance Sheet ◽  
Financial Statements ◽  
Legal Form ◽  
Fixed Assets ◽  
The Russian Federation ◽  
State Registration ◽  
Economic Nature

In recent years, when selling real estate objects, Russian organizations use the account “goods shipped” recommended by the national regulator for use in this case, the balance of which in the balance sheet relates to current assets. In connection with the amendments to the Tax code of the Russian Federation, the use of this account is doubtful, as it is necessary to apply the requirement of priority of the economic nature of transactions over their legal form. In practice, most Russian companies are serious about compliance with the requirements of the regulator, as a result of which, actually sold real estate is reflected in the same section of the balance sheet, which reflects the fixed assets only intended for sale. The authors studied the annual financial statements of many major Russian companies, including the provisions of their accounting policies, and the order of reflection in the financial statements of real estate, state registration of a new owner, which occurred in the next reporting period. The study showed that most organizations do not disclose their accounting policies on this issue, which indicates that they follow the recommendations of the regulator, in the minority there are organizations that make the appropriate disclosure of accounting policies, but the position of accounting policies coincides with the opinion of the regulator. In the article the authors suggest ways to solve the situation.

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