Računovodstvo, revizija i financije

Računovodstvo, revizija i financije


Optimizam - uvodnik

rrif - 4.2011, str. 11

Additional Discounts and Recording Receivables from Sales

rrif - 4.2011, str. 13
In the Croatian business practice the issues such as additional discounts due to payments prior to the due date, additional rebates and the granted price difference due to the corresponding purchase of certain quantities of goods or some other business reasons are usually determined by contracts or additional contracts. In such cases the procedures in accounting of buyers and sellers should be clearly defined. The article presents the procedure of additional granting in accounting.

Loss in View of Accounting and Taxation

rrif - 4.2011, str. 20
The sentence "The company has made a loss." raises a number of questions by the accounting expert: What type of loss is it?; Is it the accounting loss as the difference between income and expenditure?; Is it the tax loss which points to the fact that the company in this tax period is not obliged to pay the profit tax? – This does not necessarily have to be the consequence of bad business operations i.e. the accounting loss - ; Is it the loss of the business year, which is presented in the balance sheet and reduces the company's capital? There is also the question how long such a loss can be transferred. The author of the article writes about the above stated issues.

Accounting of Bee-Keeping and Production of Bee Products

rrif - 4.2011, str. 24
The article deals with the accounting of bee-keeping i.e. bee communities, which make up the biological assets defined by the CFRS no. 17 and the IAS no. 41. The article also analyses the accounting of production of honey and other products which represent an output of this agricultural activity as well as the creation of the additional biological assets i.e. bee communities.

Tax Position of Company in Liquidation in Accounting

rrif - 4.2011, str. 29
Liquidation of a company is a procedure which leads to the closure of its business operations. The reasons for the closure of business operations are determined by the Companies' Act. The decision on liquidation by the company's assembly or the company's members is prepared in a written form and notarized by the public notary. Such a decision is to be entered into the court register, whereby the term in liquidation should be added to the name of the company. Such a remark is necessary for the protection of creditors and other business entities which operate with the company in liquidation. The article describes the procedure of liquidation of a company and stresses the accounting procedure regarding financial and other liabilities.

Keeping Business Records

rrif - 4.2011, str. 34
At the end of the business year business records are completed and financial and tax reports are prepared. All the documents, records and reports are collected in order to be stored and kept, which can represent a problem especially due to the limited space of the premises where the company performs its activities. There are various regulations which determine the period in which business records are to be stored. The article explains the deadlines and ways of keeping business records according to the Accounting Act and the General Tax Act.

Drawing-up Company`s Statistical Report (TSI-POD Form) for Period January – March 2011

rrif - 4.2011, str. 38
This year the company's statistical reports for a three-month-period are to be submitted in the TSI-POD Form. The companies obliged to submit their statistical reports for the period January-March 2011 are the companies which have to make their records according to the double-entry book-keeping, the companies in bankruptcy and liquidation, crafts businesses and the institutions which pay the profit tax. The article provides the explanations regarding filling-in such a statistical report through automatic data processing.

Company`s Capital for Managing Investment Funds

rrif - 4.2011, str. 43
The basic goals of supervising the capital market are to protect investors, to ensure the efficient market operations and to reduce the systematic risk. The systematic risk comprises the activities carried out in order to reduce the possibility of bad business performance of financial mediators on the market including the negative consequences for investors, the financial market and the society as a whole. The Rulebook on Types and Kinds of Capital of Companies for Managing Investment Funds determines the criteria of realizing the goals of supervision. The author of the article comments on the above stated Rulebook and describes its application in practice.

Budget Beneficiary`s Own Income

rrif - 4.2011, str. 47
Workshop of Budgetary Accounting This workshop on budgetary accounting deals with the recording of the budget beneficiary's own income. Upon their recognition the difference of the relationship between a budget beneficiary and its authorized budget should be taken into consideration. The differences are conditioned by the transaction account through which a budget beneficiary operates and by the type of one's own income as well as by the way of its including into the budget system through the budget ledger or through the consolidation of the financial reports only.

Financial Report of Non-Profit Accounting for Period January-March 2011

rrif - 4.2011, str. 50
Almost all non-profit organizations which operate on the basis of double-entry non-profit book-keeping have to prepare the S-PR-RAS-NPF Form for the period January-March 2011 and deliver it to the FINA. Such a financial report is regarded as a statistical report too. Such a report for the period January-March 2011 is to be prepared and delivered until 20 April 2011. The article describes the procedure of drawing-up financial reports of the non-profit organizations for the first three-month-period in 2011.

Cash Transactions in Non-Profit Organizations

rrif - 4.2011, str. 55
According to the Directive on Accounting of Non-Profit Organizations all non-profit organizations which operate with cash are obliged to keep the cash records including other determined additional records. The article points to the recording of business events regarding cash transactions in non-profit organizations.

Application of Highest Monthly and Annual Bases for Contributions to Pension Fund and Return of Contributions

rrif - 4.2011, str. 58
The limitation of the base for payment of contributions for pension insurance on the monthly and annual basis has been applied in Croatia since 2003. When the insured person, the employee or any other person gets in a specific calendar year the receipt which subjects to payment of pension contributions and which is higher than the annual basis on which the contribution for pension insurance on the basis of generation solidarity (First Pillar) has been paid, he/she may make a claim for the return of such a contribution. The claim for the return of the contribution is to be submitted to the corresponding tax office of the Tax Administration enclosing the GOD-DOP Form which contains the data on the paid receipts.

Voluntary Pension Insurance (Third Pillar) – Tax and Expense Benefits

rrif - 4.2011, str. 62
According to the Income Tax Act the insurance premium paid by the employer for their employees on the basis of life insurance, supplementary and additional insurance, private health insurance and insurance of their property is regarded as a taxable receipt. The premiums of the voluntary pension insurance have a preferred tax position. Accordingly, the premiums of the voluntary pension insurance which are paid by the employer for his/her employees up to a certain amount do not represent a taxable receipt, but are recognized as expenditure in terms of taxation and reduce the base of the income tax.

Protection of Data and Facts in Taxation Procedure

rrif - 4.2011, str. 66
The institute of tax secret currently plays an important role in the taxation procedure. The general personal law does not ensure to the tax payer the absolute protection of data, neither the facts he/she presented during the taxation procedure. Actually, the protection is limited through interfering of the state in order to ensure the equality and lawfulness of the taxation procedure.

Novosti u oporezivanju trošarinama i posebnim porezima – naftni derivati i kava

rrif - 4.2011, str. 69

Novim Zakonom o posebnom porezu na kavu uređeno je plaćanje posebnog poreza na kavu koja se uvozi u carinsko područje RH, koji na nešto drukčiji način, u odnosu na odredbe starog zakona, propisuje postupanje s kavom u tuzemnom prometu. Jedan od glavnih ciljeva donošenja ovog zakona je usklađenje zakonodavstva RH sa zakonodavstvom EU. U nastavku se daje pregled najbitnijih odredaba Zakona, tko je porezni obveznik, što je predmet oporezivanja, porezna osnovica, visina posebnog poreza, postupanje sa zalihama kave na dan stupanja zakona i druge porezne obveze. Jednako se tako u nastavku članka daje napomena u vezi s promjenom visine trošarine na motorne benzine i plinsko ulje.

1. Uvod
2. Što donosi uredba o visinama trošarina na motorne benzine i plinsko ulje
3. Novosti u oporezivanju kave posebnim porezom

Loaning – Some Specific Issues

rrif - 4.2011, str. 73
Taking loans is a frequent activity by a company's management aimed at keeping-up the company's solvency, i.e. paying its due cash liabilities. One of the resources of financing is taking a loan from another company, member(s) of the company, other physical persons or from banks. A special emphasis is given to the use of loans by non-residents. On the other hand, a company can grant a loan to other company or to other legal person, a company member, employee or some third party. The article points to the main issues of the tax and other regulations regarding loans and interests.

Claim for Instalment Payment and Postponed Distraint of Tax Liabilities

rrif - 4.2011, str. 78
The officials of Tax Administration carry out a distraint procedure in the branch offices according to the distraint and credible documents in the volume necessary for payment of the tax debt. They make decisions on the distress and transfer of the cash assets which are deposited on the distrainee's bank account, including the seizure of the cash assets (salary) earned by the distrainee at the employer's. In case of difficulties with earning money and the present illiquidity the tax payers in distraint procedure may make a written claim for instalment payment up to 10 months or a postponed collection of tax debt up to 6 months. The author of the article presents the necessary contents of the claim for the postponed distraint procedure or instalment payment of the tax debt to the corresponding administration.

Some Explanations on Compensations for Use of Forests for Generally Useful Purposes

rrif - 4.2011, str. 87
According to the Act on Forests the legal persons engaged in the economic activities are obliged to pay the compensation for using forests for generally useful purposes. The paid assets are credited to the specific account of the company to be used for biological restoration of the forest in the Karst area (islands, coastline, hill and mountain areas). These assets are used in the continental areas of the Republic of Croatia exclusively for clearing of mines and rehabilitation of forests. The above stated Act includes the investment of such assets into the forests of forest owners. The author of the article gives comments on the Rulebook on the way of calculation, forms and deadlines of payment of compensations for use of forests.

Audit of Accounting Estimates – Pre-Audit

rrif - 4.2011, str. 89
The audit procedures regarding the positions in the reports which comprise the accounting estimates have always differed from the procedures regarding the audit of other positions of the financial reports. In fact, there is no firm material proof for the accounting estimates, they are subjective and depend on the free estimation of the management and therefore are under impact of the management more than other positions. The easiest way of manipulating the results is for the management to do this through the estimates. The author of the article describes the procedures and acts to be made by the auditors in pre-audit upon the revision of the accounting estimates.

Financial Instruments IAS 39 (Second Phase) - Purchase Expenses and Value Decrease -

rrif - 4.2011, str. 94
In January 2011 the IASB published the supplement to the Proposal of the standards of financial instruments titled Depreciated Purchase Expenses and Value Decrease, published in November 2009. The goal of this supplement, in co-operation with the American FASB, is to set the rule of presenting in the financial reports the expected loss of value decrease of the open portfolios of the financial assets, whose value is measured according to the depreciated purchase expenses.

EU Commission for Easier Access to Information on Companies

rrif - 4.2011, str. 95
The European Commission made the proposals aimed at easier connection of business registers, freezing-up of the assets of non-payers, taxation of profit, etc. These proposals are important for the economies of the member countries.

Project Financing

rrif - 4.2011, str. 97
The article presents the basic differences between the financing of project (balance financing) and the project financing (off-balance financing). It also explains how the application of such a financing technique distributes the risks among the entities included in the project, how it affects the increase of the value of the investor's parent company and how its application secures the investors from underinvestment and the contaminating risk.

Act on Prevention of Money Laundry - FAQs

rrif - 4.2011, str. 101
According to the Act on Prevention of Money Laundry the employers are obliged to permanently take care of education and training of their employees who perform the activities of prevention and disclosure of money laundry and financing of terrorism. Professional training comprises the introduction with the provision of the Act, the valid regulations and the company's by-laws as well as the international standards determined by the international conventions in the field of prevention of money laundry and financing of terrorism with the guidelines and list of indicators for recognition of suspicious transactions and alike. The author of the article provides the replies regarding uncertainties and non-understanding of implementation of the measures and activities according to the Act on Prevention of Money Laundry.

Monitoring and Planning of Business Operations by Means of Controlling

rrif - 4.2011, str. 105
In today's business environment business entities have the need to draw-up the plan of business operations (budget) at least once a year. The plan which is prepared for the period of 3-5 years is primarily aimed at the projection of the future income and expenditure and the expected profit of a business entity, including the estimates of all other business indicators (expenses, receipts, necessary investments, expected liabilities). Various planning techniques are used upon preparation of such plans. This article presents the preparation of the plan based on the previously determined business cases.

New Statistical Reports on Foreign Currency Operations

rrif - 4.2011, str. 112
The new Decision on collection of data needed for preparation of the balance of payments, the statement of foreign debt and the statement of international investments has been published. It does not considerably differ from the last one which was applied before the new one. Besides the old reporting of the Croatian National Bank a few completely new researches have been introduced. The article describes such researches, except crediting and depositing operations.

Novosti u izvještavanju o kreditnim i depozitnim poslovima s inozemstvom

rrif - 4.2011, str. 117

U sklopu novog provedbenog propisa Zakona o deviznom poslovanju kojim se prati pretežiti dio prometa s deviznim nerezidentima uvedene su neke izvještajne novosti, a neke su mijenjane. U ovom se članku pojašnjavaju promjene koje se odnose na kreditne i na depozitne poslove s inozemstvom. Upozorava se na potpuno novo izvješće – godišnje izvješće o ostalim kreditnim poslovima s inozemstvom čija obveza podnošenja za 2010. dospijeva 30. travnja 2011.

1. Uvod
2. Kreditni poslovi s inozemstvom
3. Depozitni poslovi s inozemstvom
4. Izvještavanje putem INOK-DEP izvještajnih tablica
5. Zaključak

Liquidation of Crafts Businesses – Income-Makers

rrif - 4.2011, str. 125
The liquidation of a crafts business – income-maker is one of the most frequent ways to stop operating by an independent crafts business. Such a business can stop operating due to a number of reasons, i.e. due to the free decision of a craftsman or due to the force of law if certain operating conditions, usually those determined by the Act on Crafts Business, have not been fulfilled. A crafts business can stop operating due to misappropriation too, whereby it is important to distinguish between the misappropriation with continuation of operating activities and the misappropriation without continuation of operating activities. After liquidation the craftsmen are obliged to prepare an annual tax return in the so-called DOH Form. The article presents the accounting procedure regarding the liquidation of crafts businesses – income tax payers.

Liquidation of Crafts Businesses and Other Sole Trading Businesses – Profit Tax Payers

rrif - 4.2011, str. 133
The liquidation of crafts and sole trading businesses – profit tax payers is not determined by the Act on Crafts Business. The tax regulations do not provide detailed provisions how to act in such a situation either. Due to the frequent liquidations of craftsmen profit makers as the consequence of the recession the article states what should be considered in case of liquidation and which liabilities should be fulfilled in view of accounting.

FAQs to Sanitary Inspectors

rrif - 4.2011, str. 139
Sanitary inspectors perform the activities of supervision of application of law and other regulations which determine the protection of people. The supervision comprises buildings, plants, premises, gadgets, equipment and the persons who perform the economic activities and the activities in the field of health protection, child care, education, social care, catering, tourism, crafts business, including the services in sports, recreation and traffic and those provided on other public places. The activities of sanitary inspection are performed by the Administration for Sanitary Inspection at the Ministry of Health Protection and Social Care.

News Regarding Minimum Technical Conditions and Permitted Exhibiting of Tobacco Products at Sales Facility

rrif - 4.2011, str. 143
The operations of salesmen and the conditions they have to fulfil are determined by the regulations on trade. The instructions and opinions of the Ministry of Economy, Labour and Entrepreneurship explain some procedures and operations which are dubious in practice. The article provides two pieces of information regarding fulfilling the minimum technical conditions for the sales facilities in which the sales activity is continued and the latest instructions in view of exhibiting i.e. sales of tobacco products.

Cijene vodnih usluga prema novim propisima

rrif - 4.2011, str. 147

Donošenjem zakona koji uređuju rad komunalnih društava došlo je i do promjene načina izračunavanja cijena vodnih usluga. O postupku izračuna kao i o osnovnim razlikama između novog i starog načina izračunavanja cijena pročitajte u nastavku članka.

1. Uvod
2. Razlika između određivanja cijena vodnih usluga po starim i novim propisima
3. Zaključak

Changed Regulations on Contributions

rrif - 4.2011, str. 152
The provisions of the Act on Contributions, which became effective on 1 January 2009, were complied with the regulations in the field of social security, which were changed in the period before this Act came into effect. The changes comprise the alternated terms in specific articles and the explanations of the specific provisions aimed at their easier application in practice. The Rulebook on Contributions was changed in accordance with the changed provisions of the above stated Act. The contribution rates were not changed. The article presents the changed regulations on contributions, provides a comment on this topic and describes the procedure of their application in practice.

Temporary Employment – Employees on Loan

rrif - 4.2011, str. 155
Employment represents a legal relationship made voluntarily by the free will of the employee and the employer in which the employee is obliged to perform work in a certain working time according to the instructions of the employer and the employer is obliged to pay salary to the employee for the work done. The above stated definition comprises the essential elements of such a legal relationship, which have to be fulfilled in a cumulative way (none of them may be excluded) in order to be defined as employment. The author of this article describes the elements which define employment.

Sudski raskid ugovora o radu

rrif - 4.2011, str. 159

Prema Zakonu o radu (Nar. nov., br. 149/09., dalje: ZR) jedan od sedam načina prestanka ugovora o radu jest i prestanak odlukom nadležnoga suda. O ovom institutu, dakle sudskom raskidu ugovora o radu po zahtjevu radnika detaljnije pišemo u nastavku kroz prikaz tri rješidbe Vrhovnog suda Republike Hrvatske donesene u revizijskom stadiju radnoga spora.

1. Uvod
2. Stavljanje izvan snage odluke o otkazu
3. Nedopušten otkaz
4. Vraćanje na rad kod poslodavca

Gospodarska kretanja u Hrvatskoj i EU

rrif - 4.2011, str. 161
1. Pregled kretanja
2. Cijene na malo
3. Indeks proizvođačkih cijena industrije
4. Industrijska proizvodnja
5. Vanjskotrgovinska razmjena
6. Trgovina na malo
7. Turizam
8. Plaće
9. Likvidnost i solventnost
10. Zaposlenost

Novi propisi

rrif - 4.2011, str. 167


rrif - 4.2011, str. 171

Stručne informacije

rrif - 4.2011, str. 176
Hrvatski računovodstveni sustav HSFI, MRS, MSFI i Tumačenja (1)