Računovodstvo, revizija i financije

Računovodstvo, revizija i financije


Jednom prava... - uvodnik

rrif - 10.2009, str. 13

Discounts and Reduced Prices in View of Taxation and Accounting

rrif - 10.2009, str. 15
 Discounts and reduced prices have become present in trading all the year round – not just at the end of a specific season or at holiday times. Due to the reduced purchase power of inhabitants promotional sales have become attractive to both buyers and sellers who want to keep the existing turnover. On the other hand, discounts are also present in the wholesales i.e. the provision of products and services, for which the invoices R-1 are issued, including regular or subsequent discounts.The author of the article writes about the effect of discounts on VAT liabilities, especially the subsequent discounts which refer to the invoices for deliveries taxed with 22% VAT rate, including the issue if it is according to the Trade Act allowed to sell the goods at the price lower than their net price.

Accounting of State Subsidies

rrif - 10.2009, str. 21
 In the time of crisis state subsidies have become rather important for enterprises and citizens. According to the public opinion one of the causes of the crisis in Croatia are too high state subsidies provided to specific enterprises (activities, areas, categories of population, etc.). A large number of citizens and enterprises are demotivated by the typical behaviour of the non-transparent, inconsistent provision of state subsidies, which are often adjusted to specific cases. This article deals with the issues of state subsidies from the book-keeping viewpoint and the possibility of publishing, which is according to the accounting standardsrequired for state subsidies provided to enterprises – legal persons and physical persons who have double-entry book-keeping.

Accounting of Foreign Exchange Gains and Losses

rrif - 10.2009, str. 27
 The companies which perform their business operations with foreign companies record their receivables from foreign buyers, their liabilities to foreign suppliers and the cash balance on the foreign currency account in HRK according to the selected exchange rate on the particular date. The value of such assets and liabilities is changed according to the altered exchanged rate. Accordingly, the emergence of foreign exchange gains and losses is inevitable, which is reflected on the amount of income and expenses of the company. The effect of foreign exchange gains and losses on the company’s financial results depends on the level of company’s dependence upon imports or exports respectively.

Accounting and Tax Position of Software

rrif - 10.2009, str. 32
  Software represents a general term comprising all the programs necessary for the appropriate functioning of PCs and similar devices. It is generally described as a soft part, unlike hardware which is described as a hard part of the computer system.Software is a special entry in the company's balance sheet in the group of intangible assets. Depending on the way of its purchase it can sometimes have a specific tax position. The article deals with the tax position of software in view of the value added tax and the income tax and gives instructions how to record the investments into software.

Extraordinary Expenditure

rrif - 10.2009, str. 38
The author of this article presents the cases when small and middle-sized companies record extraordinary expenditure according to the requirements of the Croatian Financial Reporting Standards, including the way of their recording in book-keeping records and financial reports. Extraordinary expenditure can only be the expenditure resulting from the sales of a substantial part of the company's fixed assets, natural catastrophes which have caused serious damages on such assets and other similar extraordinary events. All other expenditure, which is not considered important or non-frequent, should be recorded as other business expenditure.

Net Value of Buildings

rrif - 10.2009, str. 42
The constructed or purchased buildings or business premises can have a different system of construction costs, which can be depreciated upon their putting into operation. Such a difference is due to the fact that one's own construction has a different structure of costs compared to purchased buildings. The purchased buildings can represent stocks of real estate. According to the VAT regulations which define the VAT base for such a case some costs had to be entered on the account of land value. A specific problem arises when real estate is purchased by the person who is not obliged to pay VAT. The author of this article writes about defining a net value of a building and the base for calculation of depreciation of buildings.

Report on Complete Profit of Period according to IAS 1

rrif - 10.2009, str. 46
 The International Accounting Standards Board (IASB) has published a new IAS no. 1 – Presenting Financial Reports starting on 01.01.2009. The major changes refer to the changed names of reports, presenting reports and terminology. These changes of the IAS no. 1 are actually the consequence of adjusting IFRS to the American GAAP.The article presents the changes referring to the financial reports according to the new IAS no. 1.

Statistical Reports for Period January-September 2009

rrif - 10.2009, str. 55
Statistical reports for the period January-September 2009 are to be drawn up by the companies which are obliged to keep their business records according to the double-entry book-keeping, including the companies in bankruptcy or liquidation process. The reports are submitted to the FINA on the TSI-POD Form (Company Statistical Report). This form is also used by physical persons who have some registered business activity and the income tax payers. Banks, insurance companies and non-profit organizations submit their reports in special forms. The article gives instructions for drawing up statistical reports for the period January-September 2009.

Reduced Value of Receivables and Clearing Payments

rrif - 10.2009, str. 56
  • Workshop of Budgetary Accounting
  • The article deals with the examples of recording in the budgetary accounting referring to the transactions of reducing the value of receivables and clearing payments.
  • Liquidation of Association from Accounting and Taxation Viewpoints

    rrif - 10.2009, str. 59
  • Workshop of Non-Profit Accounting
  • The article deals with the procedures of recording and taxation referring to the liquidation process of an association.
  • Additional Investments in Long Term Non-Financial Assets

    rrif - 10.2009, str. 66
  • Workshop of Non-profit Accounting
  • The article deals with the recording procedures in the accounting of non-profit organizations regarding investments in long term non-financial assets.
  • Financial Report for Period January-September 2009

    rrif - 10.2009, str. 67
    Financial Report for Period January-September 2009

    Right to Personal Deductions

    rrif - 10.2009, str. 69
     Income tax is the most personal and socially compassionate tax in the taxation system. These characteristics are reflected in tax exemption of  a part of income of each income tax payer depending on his/her family and health status, including solving housing issues and improvement of the standard of living of the persons who live in the areas of special state care and mountain areas. The basic personal deductions are recognized during the year too upon the calculation of the pre-paid tax from salaries. Upon taxation of other receipts they are recognized in the annual tax report, including personal deductions which can be recognized on the basis of the annual tax report only.

    Salaries of Management in State-Owned Companies

    rrif - 10.2009, str. 77
     Since 14 August 2009 the amount of salaries of Management in a special group of public companies have been limited. These are the companies whose shares and stocks are owned by the Republic of Croatia and some closely connected public persons.Upon enforcement of the Government’s limitations several difficulties have arisen due to imprecise regulations referring to the determination of salaries for management board members. The article offers some possible solutions.

    Stronger transparency and responsibility of financial reporting

    rrif - 10.2009, str. 80
    Stronger transparency and responsibility of financial reporting

    Prevention of Tax Evasion, Public Purchase and Financial Aid to Banks

    rrif - 10.2009, str. 82
     The article deals with the measures taken by the European Commission in order to comply the legislation in the EU countries. They comprise the economic recovery, VAT evasion, monopolies, public purchase for military needs, financial aid to banks and others.

    Order of Payment in Case of Frozen Account

    rrif - 10.2009, str. 84
    The order of payment is determined by several legal provisions. According to the Act on Payment Transactions payment orders are realized on the foreign currency date and in case there are not enough assets on the accounts according to the determined order of payment, i.e. the order of their receipts in the bank, if some other order has not been determined. The General Tax Act, the Act on Distraint Procedure and the Act on Realization of State Budget determine the order of priority payment by decisions on distraint regarding the payment of tax debts, other decision on distraint and the orders made by the Ministry of Finance issued for the collection of payment upon the activated state guarantees.

    Collection of Receivables in Distraint Procedure

    rrif - 10.2009, str. 88
    The forced collection of receivables can be realized through a court procedure in civil proceedings or through court or off-court procedures in distraint proceedings. This article deals with the collection of receivables in the court or off-court procedures in distraint proceedings. The author of the article describes the enforcement of collection of receivables in distraint proceedings.

    Adequate Capital of Investment Companies

    rrif - 10.2009, str. 95
     The article deals with the legal basis, calculations, terms and reports to be prepared by investment companies on adequate capital. In the field of provision of financial services and performance of investment activities the corresponding regulations were prepared in order to comply the Croatian regulations to the EU acquis communautaire, which is partially explained in this article.

    Method of Real Option upon Evaluation and Planning of Investment Projects

    rrif - 10.2009, str. 97
    The evaluation of the investment projects in the Croatian business practice is, besides the statistical evaluation, carried out by means of the method of discounted cash flow, the method of the present net value and the method of internal rent ability rate. Besides the method of discounted cash flow the business practice of the developed countries have lately been applying some contemporary methods of evaluations such as the method of real option. The starting point of this method are the models of evaluation of financial options. It should however be pointed out that the method of real option is used as a supplementary method and cannot be a substitute for the traditional evaluation methods. Its goal is to make optimum business decisions.

    Due Diligence before Takeover or Merger

    rrif - 10.2009, str. 105
     Making a strategic decision on takeover or merger with another legal person is a responsible and rather delicate activity since this includes a number of unknown aspects of the operations and financial position of another legal person. The data from the stock market are not sufficient, if the legal person is listed on the market, since the share values are constantly changing. The information in the financial reports are not sufficient either, because they do not comprise all the aspects of business operations and provide the data on the past events, not on the present and future business operations. The author of this article writes about the specific method of a more complex analysis of the legal, economic, technical, financial and accounting situation in a company – the so-called due diligence.

    VAT Calculation on Delivery of Goods below Their Net Value

    rrif - 10.2009, str. 110
     Lately there have been contrary procedures of tax bodies, i.e. tax supervision, referring to tax supervision of the evaluation of the tax base. It refers to the determination of the delivery market value if the tax payer delivers the goods at the price lower than their net price i.e. cost price. The article explains the unjustifiability of such acts according to the provisions of the VAT Act. i.e. the provisions of the Directive 2006/112/EC of the European Union, on which the Croatian VAT Act is based.

    Increase of Share Capital from Profit after Changed Taxation Treatment

    rrif - 10.2009, str. 115
     In view of the taxation treatment of investment of  the retained earnings from the period 2001-2004 the viewpoint of the Tax Administration was that such an investment for physical persons had to be taxed by the tax on income from capital. After almost four years of the incorrect application of tax regulations the Tax Administration gave up  such an opinion after several court decisions of the second instance made this year. After the changed viewpoint the possibility of increasing a share capital from profit has again become a current issue. This refers especially to the retained earnings from the above stated period.

    Change of Personal Identification Number on Company Invoices from 1 January 2010

    rrif - 10.2009, str. 119
     The personal identification number (PIN) is to be used by companies in business operations starting on 1 January 2010. Until 31 December 2009 companies have to use the old identification marks such as the unique registration number of a citizen (MBG), the registration number for legal persons (MB), the system number and the register number for foreigners, i.e. the other existing identification marks. Companies should obtain the personal identification number from their business partners before 1 January 2010 to be able to state it on the business documents, invoices, applications and forms on the above stated date. The article deals with the significance of introducing the personal identification number for companies and its use in business documents.

    State of Limitations – Application of Civil and Legal Rights in Tax Law

    rrif - 10.2009, str. 124
     The institute of state of limitations contributes to the legal security of legal relationships and is applied in the areas of private and public law. Principally the state of limitations is considered an institute of civil law. Therefore, it is not surprising that tax regulations point to the subsidiary application of the civil law in the cases of state of limitations. However, there are substantial differences between the states of limitations in the civil law and the tax law, which has been confirmed in the practice. Such differences lead to the conclusions that in tax procedures and at courts the regulations on civil and legal state of limitations can only exceptionally be applied. Otherwise this would mean the violation of the legal security.

    Tax Supervision according to New General Tax Act

    rrif - 10.2009, str. 134
     Tax supervision is a part of the tax-legal relationship in which the Tax Administration conducts the procedure in order to check and determine the facts important for taxation of tax-payers and other persons. Tax supervision is carried out according to the acts referring to the specific taxes, whereas the procedure of the tax supervision subjects to the provisions of the General Tax Act. The aim of this article is to explain the term tax supervision to tax payers in a simple and comprehensive way through questions and replies, including the way of its performance. The article also states the rights and obligations of tax payers according to the valid regulations referring to tax supervision.

    RRiF-ovi porezni savjeti

    rrif - 10.2009, str. 141

    Simplified Declaring Procedures and Certified Recipients

    rrif - 10.2009, str. 149
    Some customs procedures have a negative effect on business operations, sales and distribution of goods and the amount of dependant costs. Such negative effects are especially visible in business operations in the present time of economic crisis and recession. In order to point to some advantages within the customs system some institute of the customs system have been analyzed, which can considerably speed up, simplify and make cheaper a part of the operations referring to the sales of goods over the border. This article presents declaring of goods on incomplete declarations, commercial documents and book-keeping records. It explains the terms of an authorized recipient and an authorized sender.

    Depth Analysis of Party to Prevent Money Laundry

    rrif - 10.2009, str. 155
    A few new regulations in the field of prevention of money laundry and financing terrorism have been published. One of them deals with the depth analysis of a party. It determines the circumstances when the depth analysis of a party can be carried out by the third parties. The other regulation allows to authorized persons the classification of the party into the group of parties which represent a minor risk for money laundry or terrorism financing. The article analyses the measures and procedures of the depth analysis of a party including some specifics and exceptions according to the Act and the above stated regulations.

    Obligatory Contributions and Receipts of Members of Management Board and Executive Directors

    rrif - 10.2009, str. 161
     Due to the fact that the Constitutional Court of the Republic of Croatia cancelled the provisions according to which companies were obliged to employ at least one of the members of the management board, in most companies the management board members can perform their activities without having an employment status. Accordingly, the compensations for work paid to the members of the management board are taxed depending on their employment status within or outside the company.Depending on the status within the system of obligatory insurance the management board members are obliged to pay contributions. On 1 January 2009 this obligation became compulsory for executive directors in share holding companies too.The article presents the taxation procedures of receipts of management board members and executive directors including their obligations if they are not within the system of obligatory insurance (unemployed persons).

    Subsidies for Keeping Work Posts

    rrif - 10.2009, str. 166
     In order to keep the number of employed persons in the Republic of Croatia the Act on Subsidies for Keeping Work Posts was passed, according to which employers can under certain conditions obtain subsidies for their employees. The application for subsidy is to be submitted to the Croatian Employment Institute, that determines the ways and conditions for making such a claim, which is the topic of this article.

    Raskid ugovora o radu prema sudskoj odluci

    rrif - 10.2009, str. 171
    Jedan od sedam načina prestanka ugovora o radu određenih Zakonom o radu je prestanak odlukom nadležnoga suda. Taj se institut našega radnog prava razrađuje u čl. 123. ZR-a pod nazivom „Sudski raskid ugovora o radu“. O navedenom načinu prestanka ugovora o radu pročitajte u nastavku teksta
    1. Uvod
    2. Pravo na naknadu štete i naknadu plaće
    3. Prestanak radnog odnosa i zaključenje glavne rasprave
    4. Naknada štete zbog sudskog raskida ugovora o radu
    5. Ništavost odluke o otkazu ugovora o radu i sudski raskid

    Projektni pristup izgradnji poslovno-informacijskog sustava

    rrif - 10.2009, str. 173
    U suvremenim uvjetima poslovanja trenutačno pozitivni rezultati poslovanja nisu jamac opstanka i razvoja, nego treba uzeti u obzir i zahtjeve u poslovanju koje svakodnevno postavlja okolina. Odgovor na to može biti stalno praćenje i poboljšavanje poslovnih procesa te njihova implementacija i integracija. Shodno tome, nužnim se nameće potreba stalnog praćenja, učinkovitog planiranja i pravodobne izgradnje integriranoga poslovno-informacijskog sustava. U članku se pojašnjava projektni pristup izgradnji integriranoga poslovno-informacijskog sustava.
    1. Izgradnja integriranoga poslovno-informacijskog sustava
    2. Iniciranje i planiranje projekta
    3. Određivanje i organiziranje projekta
    4. Izgradnja sustava

    Gospodarska kretanja u Hrvatskoj i EU

    rrif - 10.2009, str. 178
    1. Indeksi cijena industrijskih proizvoda pri proizvođačima
    2. Industrijska proizvodnja
    3. Vanjskotrgovinska razmjena
    4. Trgovina na malo
    5. Turizam
    6. Plaće
    7. Likvidnost i solventnost 

    Posebni porez na primitke od samostalne djelatnosti i ostale primitke

    rrif - 10.2009, str. 192
    Nacrt prijedloga Zakona o posebnom porezu na primitke od samostalne djelatnosti i ostale primitke upućen je na saborsku raspravu, a nakon usvajanja tog zakona bit će objavljen u Narodnim novinama te se s tim danom predlaže i stupanje na snagu.U ovom članku pišemo kako je plaćanje poreza na primitke ostvarene od samostalne djelatnosti i ostale primitke koji nisu bili obuhvaćeni tom obvezom predviđeno u Zakonu o posebnom porezu na plaće, mirovine i ostale primitke.
    1. Pristup
    2. Stope po kojima bi se posebni porez trebao obračunavati
    3. Kako će se utvrditi osnovica odnosno neto-primitak
    4. Zaključak
    Hrvatski računovodstveni sustav HSFI, MRS, MSFI i Tumačenja (1)