Modem Cost Management in the Transport Company Through the Activity-Based Costing （ABC） Method

Road transport is a flexible mode of transport and its importance in era of globalization increases. Management of road transport companies is, in this turbulent environment, exposed to many technical, legislative, and economic problems. Especially, the growing economic pressure leads to an urgent requirement of the manager and control system improvement. Activity-based costing （ABC） method is a very powerful tool to improve products, services, processes, and market strategies. ABC allows company management to understand what causes costs and how to manage them. Company under this scheme may get a glimpse of how efficiently a company converts the source value. The main objective of our research was to assess the possibility of application of the ABC method in a transport undertaking. ABC method as a fundamentally different view on the cost in the transport business helps to find the reasons of cost and thereby influences their levels to make better use of resources.. New managerial accounting methods aim to show management what information is needed, how and where this information can be obtained, and how they can be useful for the management of the company＇s proper planning, decision-making, and control. Information provided by management accounting is often a key factor in the analysis of alternative ways of solving problems. This article focuses on the transport enterprise management and helps to decide on the use of this method in business practice.     

Application of International Public Sector Accounting Standards in Vietnam in Current Conditions

The objective of improving the state accounting system is to build a state accounting system based on a single and complete database which is applied uniformly across all public authorities and agencies from central to local. Such an accounting system must ensure a reliable and smooth flow of information among all the entities that take part in the preparation, allocation, execution, and finalization of the state budget. In order to improve the quality of financial information, to harmonize, and to develop accounting profession globally, the trend of international economic integration requires the standardization of accounting legislative framework among countries and first of all, the harmonization and unification of the preparation, presentation, and disclosure of financial information. Financial statements of each business in the private sector and financial statements of the government in the public sector in different countries should be transparent and presented in accordance with the accounting standards and principles and in line with international practices so that the financial information will be able to be compared and evaluated. Therefore, financial statements of each entity in the public sector and the consolidated financial statements of public sector entities issued by the government in different countries must be prepared and presented in a unified form to suit the international public sector accounting standards. Accordingly, with the application of the interview method in research, the main objective of this article is to focus on searching for the bases and consideration for the application of international public sector accounting standards in Vietnam in current conditions. This article consists of eight sections： （1） what are international public sector accounting standards？ （2） accounting entities of the public sector; （3） the limitations of current public sector accounting in Vietnam; （4） financial information to meet the requirements of state management and to comply with international practices; （5） the advantages of applying international public sector accounting standards in Vietnam; （6） the difficulties and challenges of applying international public sector accounting standards in Vietnam; （7） learning experiences from other countries; and （8） conclusion.     

Triangulation Approach to Costing in Higher Education Institutions

This study presents a triangulation approach to the investigation of costing possibilities in Greek higher education institutions. The historical data contained in the financial statements of universities provide the expenditures of the latter. These expenditures are then re-determined with the use of independent variables （Jacobian determinants）, as well as with activity-based costing （ABC） and interviews, in order to obtain certainty of accuracy of the calculations and an indication of the cost of educational services, which can help determine magnitudes and improve the long-term planning of university resources. The above process can be used to create cost drivers and cost pools for the new financial burden of academic departments （cost centres） and to calculate the cost per student for each department. This information does not function at variance with or as a substitute for traditional accounting systems but in parallel （or supplementally）, providing administrators with more comparative data and a clearer picture of a university＇s economic operations which will facilitate its decision planning. Thus, it can provide higher education institutions with a decision-making tool for the following tasks： （1） allocation of national and community funds to university departments; （2） financing of textbooks, food, and accommodation; and （3） determining the optimum number of new enrolments.     

Financial and Structural Stimuli for Regional Growth

The economies during the post-industrial era are returning to the classical meaning of manufacturing sector in the process of balanced regional growth and are searching for stimuli for diversifying economic structure and reindustrialization. Expansion of a new growth theory highlighted the necessity for the well-developed so-called innovative manufacturing sector; however, stimuli for realizing the potential of this sector are limited due to relative attractiveness of sectors with lower risks and faster returns especially in regions followers. Moreover, regional success as a result of the previous development can hinder changes and stimulate economic agents to avoid regions and sectors with high potential but weak performance. Generation of regional economic growth can be considered in a framework of two kinds of stimuli as financial and structural. Financial capital as an important factor for supporting structural change in economy helps to stay in harmony with the modern economy; however, existing sectoral composition can be persistent to changes. Latvia is considered as a case study about issues on fmancial and structural stimuli for regional growth because of the bright dominance of capital city region （high regional differentiation） and typical post-industrial economic structure in parallel with an intention to actively participate in reindustrialization and increase the innovativeness of economy. This article searches whether foreign investment stock in a company＇s equity capital provides a stimulus for an industrial change at a micro level （five regions and 12 manufacturing sectors in accordance with statistical classification of economic activities NACE 2 Rev. （Nomenclature generale des Activities economiques dans les Communuates Europeennes） two-digit level） and whether this change contributes to the regional growth. Unbalanced regional growth as a result of reallocation of financial resources among sectors of economic activity and differences in distribution of economic success at a sector     

Motivations and performance of public to private transactions： An international study

This article deals with the motivations and the different sources of value from public to private transactions in Europe, USA and Asia from 2000 to 2007. We determine eight main motivations （tax savings, incentive realignment, control, free cash flow, growth of prospects, transaction costs, takeover defence and undervaluation）. Then, we evaluate the shareholder wealth by measuring the offered premiums and the CAAR （cumulative average abnormal return）. Finally, we analyse the impact of public to private to the wealth shareholder. The main sources for firms from going private are incentive realignment, free cash flow （mostly for Asia）, the economy of cost transaction and undervaluation. Furthermore, taxation benefit is a source of wealth effects for Asia and family blockholder （for the control hypothesis） is significant for Europe. Premiums and CAAR are the most important for the USA and Asia. The main observation that we have made is that Asia gets the same behavior as the USA.     

From Consolidation to Segment Reporting in Local Government： Accountability Needs,Accounting Standards,and the Effect on Decision-Makers

Consolidated Financial Statements （CFSs） in the public sector represent useful financial tools to improve transparency and accountability toward internal and external users. This aggregate view is only a part of the information needed in order to give politicians, managers, employees, financial institutions, rating agencies, and citizens a whole view of a local government＇s financial performance. It emerges the need to have segment information, covering specific policy areas for which it is appropriate to separately report financial and non-financial information. This paper, after having discussed the need for accountability and decision-making in a theoretical framework, gives account of a pilot project realized by the municipality of Reggio Emilia, which introduced CFSs and segment reporting. The empirical study is based on an action research as a methodological approach to solving practical problems. Finally, the paper also offers some practical suggestions to contribute to the applicability of the segment reporting in the public sector.     

Accounting for goodwill under FRS 136： Case of Malaysian plantation companies

The introduction of FRS （financial reporting standards） 136 to Malaysian PLC＇s （public limited company） in 2006 indirectly formalized accounting for purchased goodwill for the first time. Based on a sample of 2006 annual reports of 10 Main Board companies from plantation sector, the study finds the level of desired disclosure has yet to be met. Whilst the intention of the standard is noble, actual practice for first time reporting entities indicate that Malaysian PLC＇s and their auditors have far to go before they can meet the expectation set by FRS 136 in particular and International Financial Reporting Standards in general.     

Writing the future： A theoretical justification for a uniform and universal system of currency in accounting for inflation

This paper submits that the advantages gained by introducing a single currency at the domestic level, applies equally to the economy at the global level. The advantages gained are （1） a reduction of the inflation rate to one common rate （if required） amongst all states, （2） a possible reduced interest rate, （3） an expansion in investment, （4） an increase in development and trade due to the removal of uncertainty, （5） the reduction in transaction costs, and （6） the reduction in the cost of capital （Moshirian, 2004, p. 306）. A single global currency has immediate implications in accounting for inflation as it presents an opportunity for the permanent removal of problems associated with accounting for inflation. This paper addresses the phenomenon of inflation and how accounting measurement and valuation associated with inflation is removed by the introduction of a single global currency.     

Forensic Accounting and Fraud： Capability and Competence Requirements in Malaysia

The 2011 Global Economic Crime Survey instituted by PricewaterhouseCoopers （PwC） confirms the economic crime in Malaysia to be on the increase and, therefore, requires immediate attention to stem the tides. In anticipation of the challenges occasioned due to a shift from the modified cash basis to the accrual basis of accounting, the Malaysian State＇s determination to move from a developing nation to a developed nation, and to be ranked among the first 10 in 2020, this paper presents the need for forensic accountant and auditor capability （i.e., mindset and skills） on forensic accountant and auditor competence （i.e., task performance fraud risk assessment （TPFRA）） in the Malaysian public sector. It also draws the attention of the users of public sector accountants and auditors to the understanding of fraud mechanisms and how to deal with fraudsters. The population of this study comprised the accountants and auditors in the office of the Accountant General and Auditor General of Malaysia. The objective of this paper is to investigate the competence requirements of accountants and auditors in the effective and efficient utilization of capability requirements, which have the potentials to usher in the best global practices in fighting fraud in the Malaysian public sector.     

Effectiveness of Budgetary Entities

This paper acquaints readers with the practice of effectiveness evaluation in the public sector. The purpose of this paper is to study performance measurement according to the changes in public sector reform by focusing on performance-based budgeting in Russia. This paper suggests that the construction process of performance measurement should be aligned with outputs and outcomes of budget policy. The main research materials for this paper are based on data from a survey and follow-up interviews of budgetary managers and accountants. The survey result sets priorities and weighted some indicators to the measurement of effectiveness in the public sector. The data of this study were not large, but the study led to understanding how effectiveness is seen by budgetary managers and how measurement systems should be structured. Texts and contents from different sources such as financial annual reports and budgetary entities＇ websites provided insightful and interesting findings.     

Economic Cost-Effectiveness of the Implementation of the Quality Standard ISO 9001 in the Health Sector

The quality standard ISO 9001 helps and enables organizations, regardless of the sector where they exist, to implement the quality management properly. Recent years have attracted attention to the possibilities of implementing this standard in the health sector and the economic viability of that long-term investment. Health care organizations are recognizing the value system that combines all the criteria for managing quality, including management of business, compliance and management of procedural steps, and most importantly, the total quality management. In general, the implementation of ISO 9001：2008 standard for quality in health care institutions is seen as an opportunity to improve the quality of health care, and the entire process is to be completed by reducing costs and improving services in the sector. The implementation of a quality standard is directed towards patients, medical staff, and management in order to achieve reduction and complete relief from the pain, correct and professional services, conducted services with an appropriate skilled and professional care to obtain results that are comparable to known standards, and protection services with appropriate insurance policies, and the management expects the implementation of a quality system to justify and return their investments. The methods used in this paper are based on the quality standard ISO 9001：2008--Quality Management System and the Guidelines for Improving Performance, developed based on ISO 9004：2000： Quality Management System-43uidelines for Continuous Improvement. These guidelines contain a big part of the text in ISO 9004：2000, but they are supplemented with specific guidelines for their implementation in the health sector. The implementation of the system and monitoring guidelines evidently contributes to the overall resolution and closure of problems in over 50% of cases. This not only results in saving money for the institution, but it also globally leads to reduced variations in the healing process. Expected benefits     

Vietnamese State Budget Accounting With the Relationships Between the State Budget Law and International Public Sector Accounting Standards （IPSAS）＊ Pham Quang Huy University of Economics, Ho Chi Minh City, Vietnam

For a long time, Vietnam has modifications in all aspects in the society. For many years, Vietnam has improved features in administrative works as well as in different areas, such as public administration, finance, and accounting In the accounting content, budget accounting is an important thing which is worth noting. However, along with the achievements, Vietnam is also facing a number of limitations to be overcome for ensuring transparency in the state budget. Since then, the main purpose of the article is to provide a general picture of budget accounting in Vietnam and what has not been done through finding the relationships with budget regulations and international public sector accounting. The results showed that Vietnam will transform and issue the new law on budget and build up a new model for controlling information published by data accounting system in the future.     

Financial Market of Montenegro： Evidence of Crisis and Beyond

The financial sector has played a small role in the restructuring of the manufacturing sector in transition economies, and in some cases, financial liberalization may have undermined real sector development. However, stable and stimulating business environment is crucial for economic development. The aim of this paper is to show the main changes that have been implemented in Montenegro so far, and guidelines for changes in the financial market in Montenegro, for further harmonization in accordance with the requirements of European Union （EU） accession. Also, the ability of governments of transition economies to enforce contracts and to achieve fiscal and monetary responsibility is of great importance for economic and financial development. By adopting the new Constitution of Montenegro, in the field of regulation of the financial system, there have been significant changes, recognizing the Central Bank as an institution responsible for financial stability. The authors will give a review of the actual state of the financial market in Montenegro, as well as recommendations for further changes in order to create a favorable climate for entrepreneurship and to strengthen the overall financial system.     

The Financial Implications of Using Decision Tree Analysis for Publicly Funded Health Care Screening in Canada

This article demonstrates that decision trees have several applications in screening for incidences of various cancers in the publicly funded health care system of Canada. This article reviews previous research on the design of various types of decision trees to identify the relevant decision-making parameters that should be incorporated into enhanced usage of decision trees. This article proposes a methodology for screening breast and prostate cancers. While an accounting is made for various financial costs and benefits, comments are made on the limitations of the modeling exercise through identification of problems in assigning probabilities, the use of samples in ascertaining population parameters, ethical concerns, and measuring a cost per life year. This article concludes with prospects for future research including private sector versus public sector financing and the incorporation of opportunity costs into the decision-making process.     

Intellectual capital and value creation in the production and assembly of vehicles and auto-parts sector in Brazil： A panel data analysis

This work investigates the relationship between intellectual capital and value creation in the sector of production and assembly of vehicles and auto-parts in Brazil. Through the access of the database from the annual industrial research conducted by the Brazilian Institute of Geography and Statistics, we gathered 865 observations, from 2000 to 2006, of public and private Brazilian companies with more than 100 employees. The database allows the estimate of relevant aggregated variables such as national accounts, gross domestic product, intermediate consumption, as well as propitiates a sectorial study of business strategies and performance, including value added by individual companies. In particular, in this study we use data on variables associated to intellectual capital. To achieve the goal of the study, we consider intellectual capital as defined by Pulic （2000, 2002）, including human capital and structural capital. For the analysis of business performance, we used Pulic＇s VAIC （Value Added Intellectual Cofficient） index as a measure of efficiency of the employed financial and intellectual capital. Regression models were run to verify the relationship among the efficiency in the use of intellectual capital and the profitability of Brazilian companies. The gross income, calculated as before selling, general and administrative expenses, depreciation expenses, amortization and interest expenses, was used as measure of the flows of value creation and the profitability was measured by the gross income to the total assets of the companies. Considering the constructs defined by Pulic （2000, 2002）, we tested, for the Brazilian sector of Production and Assembly of Vehicles and Auto-parts, the following hypotheses： （l） there is a positive relationship between value creation and intellectual capital, （2） there is a positive relationship between value creation and stock of intellectual capital, （3） there is a positive relationship between value creation and efficiency of the employed capital, （4） there is a positive relationship between value creation and efficiency of the human capital, （5） there is a positive relationship between value creation and efficiency of the structural capital. The results of the study, obtained through panel data analysis and through the use static and dynamic models, support the hypotheses that the intellectual capital of the companies, in its flow and stock dimensions, is positively and significantly related to value creation.     

Forensic Auditing Techniques and Fraudulent Practices of Public Institutions in Nigeria

Public institutions are charged with the responsibility of providing essential services for the welfare of the citizens by manipulating the economy＇s financial flow through public expenditure, taxation, and so on. The reliance on public institutions to provide public services in Nigeria has resulted in disappointing results, because chief executives of the institutions take less interest in the degree of its success, and this accounts for the high level of fraudulent practices in such institutions. This study, therefore, examined the relationship between forensic auditing and fraudulent practices in Nigerian public institutions. To achieve this purpose, some hypothetical statements were made and a review of relevant literature was explored. The population of the study consisted of the general managers and accountants of 12 public institutions in Nigeria. The data generated were statistically tested with the Pearson Product-Moment Correlation Coefficient. The findings suggest that both the proactive and reactive forensic auditing techniques have a negative significant relationship with fraudulent practices in Nigerian public institutions. Based on the above, it was recommended that： （1） The Economic and Financial Crime Commission （EFCC）, the Independent Corrupt Practices Commission （ICPC）, and other anti-corruption bodies in Nigeria should have, in their payroll, internal forensic auditors to supplement the duties of the internal auditors; （2） Forensic auditors should regularly undergo training and development programs to acquaint them with relevant knowledge and skills for effective forensic auditing; and （3） Forensic auditing should be made mandatory for public institutions by regulatory authorities rather than being voluntary.     

State Auditing With the Investment in Public Sector： Case of Vietnam

In Vietnam, in the current period, public investment plays an important role in the improvement of technical infrastructure systems, economic and social development of motivation to promote national development. However, the question is how to ensure that these sources of funds are used most effectively in terms of limited resources. In this article, the author would like to emphasize the critical role of the state auditor which is not only in the transparency of information, in enhancing the trust of the citizens, but also in providing important and reliable information to the public sector agencies, units, investors, and people in the society. From that, it could help to serve the management and administration of revenues and expenditures of the state budget as well as reasonably and efficiently using financial resources and assets. In case of perfectly conducting those tasks, they will contribute the power to the economy, fight corruption as loss or waste, and detect and prevent violations of law; improve the efficient use of the budget, the money, and property of the state; and serve effectively for the operation of the National Assembly and People＇s Councils at all levels of the implementation and monitoring function to decide important issues of national and local governments. With the above information, these matters in Vietnam will be solved through this paper that consists of five parts： （1） the basics about the current public investment in Vietnam; （2） the role of state auditing in improving performance management and monitoring of investment; （3） the limitations of state auditing in public investment; （4） many solutions to promote the role of state auditing in improving the effective investment activities; and （5） conclusion.     

Risk signal, financial derivatives transactions and the Indonesian GAAP

Motivated by the accounting events of firm＇s default related to derivatives and other financial instruments transactions, this study is aimed to investigate the capability of accounting information to signal the risks associated with the use of financial derivatives for hedging. Hypothesis are developed based on the theory and empirical evidences of manager＇s motive to use derivatives for hedging （Berkman ＆ Bradbury, 1968; Dune, et al., 2003） as well as signaling theory of accounting information （Ball ＆ Brown, 1968; Beaver ＆ Dukes, 1972; Jensen ＆ Meckling, 1976; Megginson, 1997）. The hypotheses are formulated in the Ordinary Least Square model. The study uses Statistical Product and Service Solutions （SPSS） version 14 as software to conduct the statistical tests. Non-bank and non-financial institutions firms with financial derivatives transactions listed in Indonesian Stock Exchange during 2001 to 2006 are chosen as the sample. Determinations of the time frame has considered the timing of introduction of revisions of accounting standard on derivatives and other financial instruments in Indonesia PSAK 50 Financial Instruments： Presentations and Disclosures which was published in July, 1998, as well as PSAK 55 Financial Instruments： Recognition and Measurements which was published in 1998. Based on the sample selections procedure and the completeness of the data required by the model, 24 firms listed during 2001-2006 or equal to 66 firm-years observations were identified as the data to be tested. Empirical evidences suggests that Indonesian GAAP is capable of providing signal associated with： （1） Fair value exposures related to manager＇s motive to reduce the cost of financial distress; （2） Cash flow exposures related to manager＇s motive to practice tax arbitrage as well as to overcome underinvestment problems; （3） Interest rate risks related to manager＇s motive to avoid the risk default due to limitations of debt covenants; （4） Forex risk related to manager＇s motive to control forex exposures caused by foreign operations as well as foreign sales.