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  Possibilities of Improving the Accounting of Provisions in Companies with Constuction Activity

  The article examined issues concerning the nature of the provision as a reporting category, the methodology for measuring the value of provisions and the improvement of their accounting. With specific examples of the practice are represented regulated in IAS 37 / AS 37 Provisions, Contingent Obligations and Contingent Assets cases of provisioning: ... The article examined issues concerning the nature of the provision as a reporting category, the methodology for measuring the value of provisions and the improvement of their accounting. With specific examples of the practice are represented regulated in IAS 37 / AS 37 Provisions, Contingent Obligations and Contingent Assets cases of provisioning: the removal of hidden defects (construction defects respectively), which of hidden becoming actually in the process of exploitation, environmental restoration; restructuring of the company. Proposed are three methods for determining the amount of the provision as the case of the accounting of the costs for provisions in companies with construction activity.

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  Value Added Creation by Intellectual Capital in Bulgarian Public Companies

  In this paper we apply the measurements of intellectual capital focusing on the human capital efficiency (HCE), the structural capital efficiency (SCE), the intellectual capital efficiency (ICE) and the value added intellectual coefficient (VAICTM ) developed by Pulic (2000; 2004) for non financial companies listed at Bulgarian Stock Exchange ... In this paper we apply the measurements of intellectual capital focusing on the human capital efficiency (HCE), the structural capital efficiency (SCE), the intellectual capital efficiency (ICE) and the value added intellectual coefficient (VAICTM ) developed by Pulic (2000; 2004) for non financial companies listed at Bulgarian Stock Exchange (BSE) using accounting data published with their financial statements for the period 2005-2009. The research is focused on companies in the manufacturing and tourism industry in order to derive any particularities in the measurements. The financial industry is excluded from the study as being specific. At this moment and at our knowledge, there’s no significant research on the value added of intellectual capital of Bulgarian non – financial industry. We extended the formula of intellectual capital valuation and arrived at the conclusion, that intellectual capital is playing an important role in the value creation process in companies listed at BSE. The relationship between the components of VAIC TM and the Tobin’s Q indicator characterizing the market performance of public companies.

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  The Rate of Time Preference: a Praxeological Oxymoron

  In ordinal utility analysis, one can but prefer or set aside. A person can choose option A or option B. Chalk or cheese, guns or butter. There cannot be any such thing as a rate at which a man engages in such activities. Cardinality cannot enter into the picture. No one prefers a given amount of chalk twice as much as cheese. This basic ... In ordinal utility analysis, one can but prefer or set aside. A person can choose option A or option B. Chalk or cheese, guns or butter. There cannot be any such thing as a rate at which a man engages in such activities. Cardinality cannot enter into the picture. No one prefers a given amount of chalk twice as much as cheese. This basic praxeological insight should not be lost sight of when we enter the more complex realm of time preference and interest rate determination. And yet, it commonly is. For we all speak of a “time preference rate.” This is an oxymoron and a praxeological monstrosity. The present paper is devoted to promoting clear thinking by attempting to purify economic language, so as to jettison the concept of a “time preference rate.”