172

172 ACCOUNTING, AUDITING

RA»UNOVODSTVO, AND
REVIZIJA FINANCE NO.
I FINANCIJE, 5/2001
br. 5/2001. MAY
SVIBANJ

C O N T E N TS

CURRENT ISSUE
] Survey of Sources for the Acquisition of Real Property - A New Issue of the Tax Law
(Prof. Hrvoje KA»ER, ScD) .......................................................................................................................................... 3
ACCOUNTING
European Commission Proposes the Introduction of Compulsory Application of the International
Accounting Standards (Tatjana RUÆI∆, BSEc) ........................................................................................................... 11
] Notes with Financial Statements and Publishing (Ivan BILI∆, BSEc; Mirza KURTALI∆, BSEc;
Tomislav LJUBI∆, BSEc) ............................................................................................................................................. 13
] Business Books of Entrepreneurs ∑ Closing and Safekeeping (Danica LON»AR- GALEK, MSEc, CA, CPA) .................. 22
] Foreign Goods Consignment Sales (Zvonimir TRAMPUS) ......................................................................................... 28
] Contemporary Production Accounting (Prof. Marko HO»EVAR, ScD) ...................................................................... 36
] Indicators of Contemporary Management Accounting in Companies (Dario DUNKOVI∆, BSEc) .............................. 42
] Unrealized Gains and Losses in Inventories in the Consolidation Procedure (Ivan ÆIC, MSc) .................................... 48
] Monthly Account of a Company∑ s Business Results Based on Production Work Orders
(Prof. Viktor FRANC, ScD) ......................................................................................................................................... 51
AUDITING
] New Examination for Certified Public Accountants (CPA) in USA ............................................................................. 59
INTERNATIONAL ACCOUNTING AND AUDITING NEWS .......................................................................................... 61
BUSINESS FINANCE
] Bank Guaranties in Business Activities (Sanja BORONI∆, BSEc) ................................................................................. 63
TAXES
] Interest in Credit Transactions of Physical and Legal Persons (Lucija TURKOVI∆ ∑ JARÆA, BSEc, CA) ......................... 67
] Establishing and the Changes of the Private Business Income Tax Advance Payment (Mirjana MAHOVI∆
KOMLJENOVI∆, MSEc) ............................................................................................................................................. 74
] Calculation and Payment of the Tax for Funding of the Public Road Construction and Maintenance
(Ljerka MARKOTA, BSEc, CA) .................................................................................................................................... 80
CRAFTS AND FREE ENTERPRISES
] Craft Activity in the Period of Temporary Standstill (Ljerka MARKOTA, BSEc, CA; Mirjana
MAHOVI∆ ∑ KOMLJENOVI∆, MSEc) ......................................................................................................................... 82
COMMERCIAL TRANSACTIONS
] Minimum Technical Conditions for Retail Sales Outside of Shops (Darko MANOJLOVI∆, MSc) ................................ 91
] Construction Agreement (Hrvoje MOM»INOVI∆, MScL) ......................................................................................... 91
TARIFFS
] Temporary Import of Goods (Franjo IBRI©IMOVI∆, Ec) ........................................................................................... 102
FOREIGN EXCHANGE OPERATIONS
] Liberalization of Foreign Exchange System (Marija LAKI∆, BSEc) ............................................................................ 109
ECONOMY
] What are the Expenses of Pension the Scheme Reform Delay (Damir LAMZA, BSEc) .............................................. 115
CORPORATE LAW
] Things and Rights∑ Intake into a Company (Prof. Jaka∑a BARBI∆, ScD) 119
LABOR AND SOCIAL LAW
] Temporary Service Contract for Permanent Seasonal Works (Nikola KNEÆEVI∆, BL) ............................................... 124
] Change of Working Hour Data in the Pension Scheme Records (Ana ©A©I∆ ∑ ©OJAT, BA) ....................................... 127
SALARIES
] Salaries of Government Employees (Ljubica –UKANOVI∆, BL) ............................................................................... 128
MARKETING
] Foreign Concerns Buy German Breweries ............................................................................................................... 130
NEW REGULATIONS .................................................................................................................................................. 134
INFORMATIONS FOR MANAGERS ............................................................................................................................ 147
CURRENT ISSUES FROM ECONOMY ........................................................................................................................ 147
NEWS FROM EUROPEAN UNION ............................................................................................................................. 149
ECONOMIC STATISTICS ............................................................................................................................................ 151
BUSINESS INFORMATIONS ....................................................................................................................................... 160
MAY
SVIBANJ ACCOUNTING, AUDITING
RA»UNOVODSTVO, AND
REVIZIJA FINANCE NO.
I FINANCIJE,
br. 5/2001.
SUMMARIES
Tatjana RUÆI∆, BSEc
EUROPEAN COMMISSION PROPOSES
THE INTRODUCTION OF THE COMPULSORY
APPLICATION OF THE INTERNATIONAL
ACCOUNTING STANDARDS
The European Commission presented the proposal of the
Regulation to demand from all the European companies
listed in regulated markets, including the banks and insur-
ance companies, to make up the consolidated financial state-
ments under the International Accounting Standards.
The proposed Regulation should strengthen free mo-
vement of capital within the Common Market and help
European companies to have the equal basis when com-
pete for financial sources available on the European, and
the world-wide capital markets as well.
The comparable, transparent financial reporting is an
essential element of the realization of an integrated, com-
petitive and attractive European market of capital that
will, with the unique currency (euro), strengthen Euro-
pean economy.
Key Words: International Accounting Standards, Euro-
pean Union, capital market, financial statements.
Page: 11
✻ ✻ ✻
Danica LON»AR ∑ GALEK, MSEc, CA
BUSINESS BOOKS OF ENTREPRENEURS
CLOSING AND SAFEKEEPING
Business books are the foundation for the preparation
of financial and tax reports. All the data contained in busi-
ness books must be established on the orderly and au-
thentic bookkeeping documents. In this context, the busi-
ness records and bookkeeping documents must be re-
garded as a whole, and with their closing and safekeeping,
the accounting and tax rules must be observed.
The article refers to the closing and safekeeping of the
business books and bookkeeping documents of entrepre-
neurs; those obliged to double-entry bookkeeping (being
under the obligation of the profit tax paying) and those li-
able to single-entry bookkeeping (being under the obliga-
tion of the income tax paying).
Key Words: business books, bookkeeping documents,
tax records.
Page: 22
✻ ✻ ✻
Prof. Marko HO»EVAR, ScD
CONTEMPORARY PRODUCTION ACCOUNTING
Production function is a central business function. Due
to great changes in a company∑ s environment, it should
change its structure. The contemporary production puts
much stronger emphasis on flexibility than on productiv-
ity. The efficiency (productivity) is not sufficient for suc-
cessful business operations. Accounting information sys-
tem must know how to adjust to these new demands. In
the article, the author discusses the contemporary ac-
counting information of a flexible production, the way of
analyzing the success of products and internal business
success.
Key Words: accounting, production, information.
Page: 36
5/2001
173
173
Dario DUNKOVI∆, BSEc
INDICATORS OF CONTEMPORARY MANAGEMENT
ACCOUNTING IN COMPANIES
Investors and owners are interested to know how is
their capital used by the company. They need the ability
indicators of the company adjusted to contemporary busi-
ness conditions, to the intensive changes and high degree
of uncertainty brought by these changing conditions.
The success indicators, founded on the classical accoun-
ting system (profit, coefficients of return etc), are not enough
for showing the successfulness of the management and its
planning; they must rely on the measures that will consis-
tently show the growth of the economic value of the com-
pany for the future. In the article presented measures are the
subject of management accounting.
Key Words: management accounting, business indicators.
Page: 42
✻ ✻ ✻
Ivan ÆIC, MSc
UNREALIZED GAINS AND LOSSES IN INVENTORIES IN
CONSOLIDATION PROCEDURE
Excluding the unrealized profits and losses from inven-
tories is a part of the procedure during the preparation of
consolidated financial statements under the requests of
the International Accounting Standards. Dependent on
the ratio of inventory values to the financial result of a
group, on the structure of purchasing and sale depart-
ments and on the policy of internal pricing, the unrealized
gains in the inventories can considerably change the fi-
nancial result of the company group.
The article presents the procedure of calculating the
unrealized gains and losses in the inventories for a group
in consolidated financial statements.
Key Words: consolidated financial statements, unreal-
ized gains and losses.
Page: 48
✻ ✻ ✻
Sonja BORONI∆, BSEc
BANK GUARANTEES IN BUSINESS ACTIVITIES
International business practice developed several kinds
of bank guarantees, with regard to their purposes. Although
certain kinds of guarantees can be met in practice most of-
ten, it does not mean that the guarantees cannot be issued
for any liability that is considered justified by the parties to
have agreed on it. Bank guarantees can be issued for the
fulfillment of various liabilities.
Key Words: payment, bank guarantees.
Page: 63
✻ ✻ ✻
Prof. Jakaπa BARBI∆, ScD
THINGS AND RIGHTS INTAKE INTO A COMPANY
The capital stock of a company can consist of the
proprietary things and rights, and not only of money.
The intake of the things and rights should be agreed in
written, and the clause intabulandi should enable the
company to have free disposal of such things.
The article specially deals with the intake of the
things and rights into a company and with the elements
of the agreement on the intake of the things and rights.
Key Words: company, capital stock.
Page: 119