In view of accounting, promotion represents the cost of the current period which is in terms of taxation recognized as expenses. The costs of promotion are frequently identified with gifts giving on certain holidays or a company's jubilee, when it is difficult to distinguish them from the entertainment costs. Entertainment costs are different type of costs which arise upon consumption, treating or some other way of hosting business partners upon making business deals, at celebrations or on other occasions. In view of profit tax entertainment costs are partially recognized as expenditure. The author of the text analyses various types of promotion and enetrtainment costs from taxation and book-keeping viewpoints.
One of the basic accounting requirements according to the accounting standards represents the recording of assets per fair value. The reduction of assets to their fair value results in increased or decreased asset value, i.e. increased expenditure or income. The expenditure determined by the reduction of the assets to their fair value are not always tax deductable. The author of the article gives instructions how to act upon the reductionof the receivables to their fair value and how to record value adjustment and written-off receivables.
Autor: Mr. sc. Katarina HORVAT JURJEC, dipl. oec. i ovl. rač.
The annual audit of assets and liabilities is one of the necesssary conditions for realistic and objective basic financial reports, which would enable their users to make proper business decisions. Pursuant to the Accounting Act and the General Tax Act the annual listing is obligatory. According to the requirements of the CFRS and IFRS financial reports have to present the financial position and business efficiency of a company in a fair and true way, which is only possible if its book-keeping records correspond to the real situation. What is to be considered upon asset audit is stated in this article.
Autor: Mr. sc. Katarina HORVAT JURJEC, dipl. oec. i ovl. rač.
Buildings and the land in large companies make up a substantial part of the assets. Therefore, the costs of landscaping arise frequently in such companies. The author of the article analyses recording of the costs of landscaping which arise due to construction of roads, canals, parking lots, fences, planting trees and other horticultural plants on green areas, taking into consideration the taxation of such costs.
The performance of business activities with the leased or rented assets of other companies (physical persons) or acquisition of assets through leasing represents a part of regular activities of most companies. Lease, rent and leasing are different terms in accounting and tax records. The article also deals with the maintenance costs of the rented assets and the investments into other company's assets – as intangible long-term assets.
The establishment of one's own company offers the opportunity of self-employment and employment of other people, which initiates an economic activity. Although enterprise activities are bear a number of risks and uncertain events, they also provide various advantages, the most important of which being the fact that an entrepreneur solely contributes to success through his/her work and effort. The author of the article presents the information necessary to know before starting to establish one's own company.
The article deals with the recording events referring to the application of a foreign currency clause, including the calculations and recordings of the expenses for a business trip.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
Institutions record business events in their accounting. They sometimes have doubts whether to apply entrepreneural, non-profit or budgetary accounting. Institutions are principally not established with the goal to gain profit. Therefore, they can have a characteristic of non-profit organizations. If they have been established with the goal of profit making or they make a profit no matter if they have been established for its making or not, they may become income tax payers. Business events are recorded in their accounting. Regardless they are originally non-profit organizations they do not always have non-profit accounting. Their accounting system depends on their status in the system of profit tax.
Autor: Mr. sc. Nada DREMEL, dipl. oec., ovl. rač. i ovl. rev.
Drawing-up of the final salary calculation after the last salary payment in a year represents not only the possibility but also the obligation of an employer. This especially refers to the situation when salaries were not regularly paid during the taxation period (year) to the employees who were employed during the entire year of 2009 and did not change their permanent address between places and towns in which tax payment is obligatory. However, the employer may, although this is not obligatory, draw up the final calculation of taxes and surtaxes from salaries in the case when salaries were regularly paid but in different amounts, which resulted in higher income tax and surtax in specific months. This article deals with the obligations, reasons and procedures of drawing up of final calculations of taxes from salaries in 2009.
Autor: Lucija TURKOVIĆ-JARŽA, dipl. oec. i ovl. rač.
Investments into stocks as a part of investments into financial assets are regarded as one of the causes of the present world financial crisis, which has affected Croatia too and arose interest among numerous investors. The article deals with the audit of investments into stocks for trade and stocks for sale. Such a division of stocks has various effects on the balance sheet and the profit and loss account respectively.
Within the framework of the news from the European Union there are some viewpoints of the European Commission such as: stress on non-transparency of the bank charges, recommendation for drawing-up invoices for gas and electricity, audit of the directive on the prospectus, problems of budget deficits, false marketing massages on advertised food products, unique electronic system, payment of road tolls, etc.
Operational planning is regularly performed in the same period every year with the same goal and reason. It is based on mathematical calculations. However, it should not be understood in such a simple way, since it also includes hunch and instinct. Everyone participating in any part of the operational planning should analyize the present situation and the expected circumstances next year in a realistic and objective way. This is very difficult in the part of sales estimate, on which the entire budget – company's performance is based. The article presents the procedure of operational planning of sales in companies.
The crisis year of 2009 is almost at its end. Pessimists (or realists?) forecast that the coming year of 2010 will be even worse, whereas optimists believe that the worst situation has passed by. However, it is necessary to be well prepared. The last quarter of a business year is the time when a company should make plans for the following year including the changes and improvements of business operations based on the achieved results so far. In the yeaar of 2010 the emphasis on planning is larger than ever. Why? Due to the uncertain events in the following periods it is essential to plan what and how a company should operate and not just react to changes.
During the period of their existance companies often have their downs and ups, the periods of good and bad business operations, i.e. the periods of crisis which frequently end up with financial break-down (bankruptcy). The important presumption of survival and recuperation of a company is drawing-up and implementation of the program of financial restructuring and sanation of the company. Various methods and contents for drawing up and implementation of such a program are used in the practice, depending on the type and characteristic of the financial crisis. This article presents one possible method and contents of the program of financial restructuring and sanation of a company, which is based on theory and practical experience.
Autori: Prof. dr. sc. Ivan MARKOVIĆ Ivana TOMAS, dipl. oec.
During the period of their existance companies often have their downs and ups, the periods of good and bad business operations, i.e. the periods of crisis which frequently end up with financial break-down (bankruptcy). The important presumption of survival and recuperation of a company is drawing-up and implementation of the program of financial restructuring and sanation of the company. Various methods and contents for drawing up and implementation of such a program are used in the practice, depending on the type and characteristic of the financial crisis. This article presents one possible method and contents of the program of financial restructuring and sanation of a company, which is based on theory and practical experience.
According to the written contract on cession a tax payer – a company or an owner of crafts business may transfer their receivables for taxes to some other legal or physical person. A written contract on cession is binding for the tax body, except in the case when a transferor in distraint process. The transferor of the right to receivables needs not be a physical or legal person, neither a tax payer. The article presents the elements of the contract on transfer of the right to receivables, the procedures of the authorized Tax Administration officer after receipt of the contract and the cases when such a contract is not binding for the tax body.
Autor: Mr. sc. Mirjana MAHOVIĆ KOMLJENOVIĆ, dipl. oec.
The Act on Excise Duties was published on 15 July 2009 and becomes effective on 1 January 2010. This Act has complied the taxation system with excise duties in the Republic of Croatia with the EU aquis communautaire. It is applied to energy products (including natural gas, coal and coke), electricity, alcohol, alcoholic drinks and tobacco products. The article provides details of the new Act on Excise Duties.
The taxation of products with special taxes (excise duties) plays an important role in the Croatian taxation system due to their high amounts, which burden the sales prices and increase the VAT base, and its frequent changes. A special tax on non-alcoholic drinks takes up the last position in the structure of income of the State budget compared to all other products subjecting to special taxes. The manufacturers and importers of non-alcoholic drinks will continue to apply the effective Special Act on Non-Alcoholic Drinks including all other valid regulations in this field. The article states the payers of the above stated special tax and the specifics in its calculation.
Autor: Mr. sc. Ljerka MARKOTA, dipl. oec. i ovl. rač.
The Act on Special Tax on Coffe and the Rulebook on Special Tax on Coffee and Revenue Stamps on Coffee Products determine the rights and obligations of payers of the special tax on coffee. The new Act on Excise Duties, which becomes effective on 1 January 2010, does not include taxation with the special tax on coffee. It will still be calculated and paid according to the valid regulations. The author of the article explains the procedures of obtaining, handling and reporting on revenue stamps for coffee, calculation and payment of the special tax on coffee.
In the procedure of customs clearance and subsequent check-up of the data in customs declarations a customs officer has various methods and instruments on disposal, which enable proper performing and finalization of the customs procedure. This article deals with such methods and instruments.
The annual stock audit is one of the important preparatory activities upon drawing up of the annual report in order to determine the real statement of the asset positions. It is used for adjustments of the data stated in business records with the real statement. The annual stock audit also serves as a preparation for drawing-up of the annual report by physical persons on the DOH Form. Physical persons should take care of whether they have satisfied one or more conditions for transfer to the profi makers , and if they have not, what is to be done until the end of 2009 to remain income makers. The article deals with the specifics in taxation and book-keeping terms, the allowed and excessive deficits of goods and stocks, which are determined in the annual audit of physical persons.
Autor: Mr. sc. Ljerka MARKOTA, dipl. oec. i ovl. rač.
The Rulebook on special conditions of performing direct sales by a representative detrmines the conditions of performing direct sales as a special form of retail sales outside the store. The contracts made between sellers (or their representatives) with consumers when they sell their products or services in direct retail sales are based on the provisions of the Act on Consumers' Protection regarding the contracts made outside the seller's premises. The article deals with the ways and conditions according to which sellers can perform direct sales of their products and services by a representative according to the provisions of the new Rulebook and other regulations.
Due to the fact that the employees' obligation to report on temporary work disability has recently become a current issue in practice, the article presents a review of a court decision on this topic. It also includes a review of the cases regarding the employer's responsibility for the damage caused to the employee.
The purchase and sales with retained ownership right represents such a purchase and sales contract in which there is a clause stating that the seller retains the ownership right to property after the transfer of property to the buyer until the price is paid to the full amount. The author of the article writes about the justifiability of such purcahse and sales and how such purchase and sales contribute to the possible reduction of the risks to the loss of receivables.
The article provides a part of the review of conclusions of the Commission for Explanation of the Collective Agreement in Health Care Sector and Health Insurance made at the meetings held in 2005, 2006, 2007 and 2008.
Elektronička i električna oprema koja je mogući otpad za zbrinjavanje prema Pravilniku o gospodarenju elektroničkim i električnim uređajima i opremom (Nar. nov. br. 74/07., 133/08.) i za koje su neke pravne i fizičke osobe dobile koncesiju kao ovlašteni skupljači... sabirni centri...
