Search results for: intangible assets

Authors: Almoutassem Bellah Nasser

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This paper is aimed at calculating the intangible assets of Jordanian economy. This effort is a response to the demand from corporations for these services which reflects a perceived gap in internal and external financial reporting on intangible investments. The main conclusion of the paper is to suggest that the way forward to a standardized, more comparable approach to measuring intangible capital is to employ CIV method of valuation. Published macroeconomic data traditionally exclude most intangible investment from measured GDP. This situation is beginning to change as some attempts have been made to measure the amount of intangible assets. It was found that intangible assets account for $164.20 million in all the listed companies of Jordan. All this money does not appear on the balance sheets of these companies and hence requires special attention of policy makers for better utilization.

Keywords: intangible capital, stock prices, Amman Stock Exchange

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Authors: Gulnara Galeeva, Yulia Kasperskaya

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The study deals with the relevant problem related to the formation of the efficient investment portfolio of an enterprise. The structure of the investment portfolio is connected to the degree of influence of intangible assets on the enterprise’s income. This determines the importance of research on the content of intangible assets. However, intangible assets studies do not take into consideration how the enterprise state can affect the content and the importance of intangible assets for the enterprise`s income. This affects accurateness of the calculations. In order to study this problem, the research was divided into several stages. In the first stage, intangible assets were classified based on their synergies as the underlying intangibles and the additional intangibles. In the second stage, this classification was applied. It showed that the lifecycle model and the theory of abrupt development of the enterprise, that are taken into account while designing investment projects, constitute limit cases of a more general theory of bifurcations. The research identified that the qualitative content of intangible assets significant depends on how close the enterprise is to being in crisis. In the third stage, the author developed and applied the Wide Pairwise Comparison Matrix method. This allowed to establish that using the ratio of the standard deviation to the mean value of the elements of the vector of priority of intangible assets makes it possible to estimate the probability of a full-blown crisis of the enterprise. The author has identified a criterion, which allows making fundamental decisions on investment feasibility. The study also developed an additional rapid method of assessing the enterprise overall status based on using the questionnaire survey with its Director. The questionnaire consists only of two questions. The research specifically focused on the fundamental role of stochastic resonance in the emergence of bifurcation (crisis) in the economic development of the enterprise. The synergetic approach made it possible to describe the mechanism of the crisis start in details and also to identify a range of universal ways of overcoming the crisis. It was outlined that the structure of intangible assets transforms into a more organized state with the strengthened synchronization of all processes as a result of the impact of the sporadic (white) noise. Obtained results offer managers and business owners a simple and an affordable method of investment portfolio optimization, which takes into account how close the enterprise is to a state of a full-blown crisis.

Keywords: analytic hierarchy process, bifurcation, investment portfolio, intangible assets, wide matrix

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Authors: Sepinoud Hamedi

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The ponder points to observationally look at the impact of carbon-neutrality approaches on the key assets required for Industry 4.0 driven savvy fabricating and how these assets can give a economical competitive advantage. The hypothetical system is coordinates with the regulation hypothesis and the resource-based see (RBV). The observational strategy is utilized for collecting information through studies and assist covariance-based auxiliary condition modeling is utilized to test the theories. Discoveries demonstrate that carbon–neutral-based government arrangements have a more grounded impact on unmistakable assets and human aptitudes than intangible assets related to Industry 4.0 driven shrewd fabricating. Moment, carbon–neutral arrangement arrangement with the firm’s maintainability destinations plays a directing impact on the relationship between carbon–neutral-based government arrangements and assets (substantial, intangible assets and human abilities) for Industry 4.0 driven shrewd fabricating. Finally, the three assets (substantial, intangible assets and human abilities) for Industry 4.0 driven savvy fabricating play a basic part in creating firms’ carbon–neutral capability and assist improving operational execution. Administrative suggestions incorporate venture in progressed advanced innovations, creating a solid mentality among workers and supply chain partners, and planning preparing programs for upgrading shrewd fabricating execution to create carbon-neutrality capability. This think about proposes a crossover hypothesis within the setting of carbon nonpartisanship by coordination institutional theory and RBV. Typically the primary think about that looks at the impact of carbon neutrality-based government arrangements on crucial Industry 4.0-driven savvy fabricating assets and the circuitous impact on carbon nonpartisanship capability and operational execution.

Keywords: carbon, industry 4.0, neutrality, RBV, nonpartisanship

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Authors: Eliane Abdo

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Small and medium sized firms “SMEs” play essential role in the countries’ economic development mainly in terms of production, employment and equitable distribution of income. For innovative SMEs, the investment in the human capital and in research and development are crucial to survive in a competitive environment. In this paper we perform a literature review to underline the financing difficulties and constraints which innovative SMEs face while investing in intangible assets: not only when defining amount of the investments but also while choosing its financing methods. Literature review revealed that in order to finance their intangible assets, SMEs rely in first on their internal financing: the availability of internal cash flows can then determine their investment’s decision. Moreover SMEs face difficulties to finance their intangibles by financial debts due to the uncertainty of future cash flow and the absence of physical guarantees; they will therefore go for the issuance of new shares as a second choice, since innovative companies have high opportunity of growth that attract new shareholders.

Keywords: small and medium sized firms, capital structure, intangible investment, financial constraints

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Authors: Cesar Julio Recalde

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Background: The role of intangible assets in today´s society is undeniable and continuously growing. More than 80% of corporate market is related to intellectual capital(IC). However, corporate governance principles and practices seem strongly based and oriented towards tangible assets. The impact of intangible assets on corporate governance might require prevention and adaptative actions. Adherence to voluntary mechanisms of intellectual capital reporting (ICR) seems to be a gateway towards adapting corporate governance to intangible assets influence and a conceptual cornerstone. The impact of adherence to intellectual capital reporting on corporate governance and performance needs to be evaluated. Purposes: This work has a sequential two folded purpose: (1) exploring the influences exerted by IC on corporate governance theory and practice, and within that context (2) analyzing the impact of adherence to voluntary mechanisms of ICR on corporate governance. Design and summary: This work employs the theory of the firm and agency theory in order to conceptually explore the effects of each dimension of IC on key corporate governance issues, namely property rights and control by shareholders and residual claims by stakeholders, fiduciary duties of management and the board, opportunistic behavior and transparency. A comprehensive IC taxonomy and map is presented. Within the resulting context, internal and external impact of ICR on corporate governance and performance is conceptually analyzed. IRC constraint and barriers are identified. Intellectual liabilities are presented within the context of IRC. Finally, IRC regulatory framework is surveyed. Findings: Relevant conclusions were rendered on the influence of intellectual capital on corporate governance. Sufficient evidence of a positive impact of IRC on corporate governance and performance was found. Additionally, it was found that IRC exerts a leveraging effect on IC itself. Intellectual liabilities are insufficiently researched and seem to have a relevant importance on IC measuring. IRC regulatory framework was found to be insufficiently developed to capture the essence of intangible assets and to meet corporate governance challenges facing IC. Originality: This work develops a progressive approach to conceptually analyze the mutual influences between IC and corporate governance. An epistemic ideogram represents the intersection of analyzed theories. An IC map is presented. The relatively new topic of intellectual liabilities is conceptually analyzed in the context of IRC. Social liabilities and client liabilities are presented.

Keywords: corporate governance, intellectual capital, intellectual capital reporting, intellectual assets, intellectual liabilities, voluntary mechanisms, regulatory framework

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Authors: Novawiguna Kemalasari, Ahmad Badawi Saluy

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Recent economic developments are more dependent on the value created by intangible assets than tangible company's assets. Intangible assets in question is intellectual capital that is recognized as the basis of individual, organizational, and general competition in the 21st century. The rapid global economy and technological innovations that have led to tough competition in the business world, make IC creation, management, measurement, and evaluation an important indicator in improving company performance that will affect the value of the company in the future. This study aims to determine the strong influence of intellectual capital on corporate performance, and how the influence of human capital on structural capital and relation capital. By distributing questionnaires to 100 employees of banking companies in Jakarta with middle and upper positions. Approach method used is Partial Least Square (PLS) Based on research that has been done, it can be concluded that human capital has influence on relation capital and structural capital. Similarly, the influence on the performance of the company turned out to human capital and relation capital has a significant influence, but structural capital has a non-significant effect on company performance.

Keywords: human capital, structural capital, relation capital, corporate performance

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Authors: Kolesnikova Julia, Fakhrutdinova Elena, Zagidullina Venera, Kamasheva Anastasia

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The article deals with the structure of intangible capital. A significant share of intangible capital is associated with a person as such and can be considered as human capital, which in turn also has a complex structure, including intellectual, social, organizational, client, reputational capital. We have allocated a separate category of intangible capital - unidentifiable capital, including a variety of synergistic interaction effects, etc. the structure of intangible capital. A significant share of intangible capital is associated with a person as such and can be considered as human capital, which in turn also has a complex structure, including intellectual, social, organizational, client, reputational capital. We have allocated unidentifiable capital as a separate category of intangible capital, including a variety of synergistic interaction effects and other.

Keywords: intangible capital, intangible property, object of intangible property, reputation capital

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Authors: Miguel Angel Calvo Salve

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This qualitative and quantitative study will identify the impact of tourism pressure on the intangible cultural heritage of the pilgrim route of El Camino de Santiago (Saint James Way) and propose an approach to a sustainable touristic model for these Cultural Routes. Since 1993, the Spanish Section of the Pilgrim Route of El Camino de Santiago has been on the World Heritage List. In 1994, the International Committee on Cultural Routes (CIIC-ICOMOS) initiated its work with the goal of studying, preserving, and promoting the cultural routes and their significance as a whole. Another ICOMOS group, the Charter on Cultural Routes, pointed out in 2008 the importance of both tangible and intangible heritage and the need for a holistic vision in preserving these important cultural assets. Tangible elements provide a physical confirmation of the existence of these cultural routes, while the intangible elements serve to give sense and meaning to it as a whole. Intangible assets of a Cultural Route are key to understanding the route's significance and its associated heritage values. Like many pilgrim routes, the Route to Santiago, as the result of a long evolutionary process, exhibits and is supported by intangible assets, including hospitality, cultural and religious expressions, music, literature, and artisanal trade, among others. A large increase in pilgrims walking the route, with very different aims and tourism pressure, has shown how the dynamic links between the intangible cultural heritage and the local inhabitants along El Camino are fragile and vulnerable. Economic benefits for the communities and population along the cultural routes are commonly fundamental for the micro-economies of the people living there, substituting traditional productive activities, which, in fact, modifies and has an impact on the surrounding environment and the route itself. Consumption of heritage is one of the major issues of sustainable preservation promoted with the intention of revitalizing those sites and places. The adaptation of local communities to new conditions aimed at preserving and protecting existing heritage has had a significant impact on immaterial inheritance. Based on questionnaires to pilgrims, tourists and local communities along El Camino during the peak season of the year, and using official statistics from the Galician Pilgrim’s Office, this study will identify the risk and threats to El Camino de Santiago as a Cultural Route. The threats visible nowadays due to the impact of mass tourism include transformations of tangible heritage, consumerism of the intangible, changes of local activities, loss in the authenticity of symbols and spiritual significance, and pilgrimage transformed into a tourism ‘product’, among others. The study will also approach some measures and solutions to mitigate those impacts and better preserve this type of cultural heritage. Therefore, this study will help the Route services providers and policymakers to better preserve the Cultural Route as a whole to ultimately improve the satisfying experience of pilgrims.

Keywords: cultural routes, El Camino de Santiago, impact of tourism, intangible heritage

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Authors: Nyoman Wijana, Chandra Arha

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Disclosures of Intellectual Capital (IC) is a presentation of corporate information assets that are not recorded in the financial statements. This disclosures is very helpful because it provides inform corporate assets are intangible. In the new economic era, the company's intangible assets will determine company's competitive advantage. This study aimed to examine the effect of IC disclosures on market capitalization growth. Observational studies conducted over ten years in 2002-2011. The purpose of this study was to determine the effect for last ten years. One hundred samples of the company's largest market capitalization in 2011 traced back to last ten years. Data that used, are in 2011, 2008, 2005, and 2002 Method that’s used for acquiring the data is content analysis. The analytical method used is Ordinanary Least Square (OLS) and analysis tools are e views 7 This software using Pooled Least Square estimation parameters are specifically designed for panel data. The results of testing analysis showed inconsistent expression levels affect the growth of the market capitalization in each year of observation. The results of this study are expected to motivate the public company in Indonesia to do more voluntary IC disclosures and encourage regulators to make regulations in a comprehensive manner so that all categories of the IC must be disclosed by the company.

Keywords: IC disclosures, market capitalization growth, analytical method, OLS

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Authors: Sanja Pfeifer, Nataša Šarlija, Marina Jeger, Ana Bilandžić

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The purpose of this study is to explore the different facets of growth among micro, small and medium-sized firms in Croatia and to analyze the differences between models designed for all micro, small and medium-sized firms and those in creative industries. Three growth prediction models were designed and tested using the growth of sales, employment and assets of the company as dependent variables. The key drivers of sales growth are: prudent use of cash, industry affiliation and higher share of intangible assets. Growth of assets depends on retained profits, internal and external sources of financing, as well as industry affiliation. Growth in employment is closely related to sources of financing, in particular, debt and it occurs less frequently than growth in sales and assets. The findings confirm the assumption that growth strategies of small and medium-sized enterprises (SMEs) in creative industries have specific differences in comparison to SMEs in general. Interestingly, only 2.2% of growing enterprises achieve growth in employment, assets and sales simultaneously.

Keywords: creative industries, growth prediction model, growth determinants, growth measures

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Authors: Gulnara Galeeva

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The Analytic Hierarchy Process is widely used in the economic and financial studies, including the formation of investment portfolios. In this study, a generalized method of obtaining a vector of priorities for the case with separate pairwise comparisons of the expert opinion being presented as a set of several equal evaluations on a ratio scale is examined. The author claims that this method allows solving an important and up-to-date problem of excluding vagueness and ambiguity of the expert opinion in the decision making theory. The study describes the authentic wide pairwise comparison matrix. Its application in the formation of the efficient investment portfolio of intangible assets of a small business enterprise with limited funding is considered. The proposed method has been successfully approbated on the practical example of a functioning dental clinic. The result of the study confirms that the wide pairwise comparison matrix can be used as a simple and reliable method for forming the enterprise investment policy. Moreover, a comparison between the method based on the wide pairwise comparison matrix and the classical analytic hierarchy process was conducted. The results of the comparative analysis confirm the correctness of the method based on the wide matrix. The application of a wide pairwise comparison matrix also allows to widely use the statistical methods of experimental data processing for obtaining the vector of priorities. A new method is available for simple users. Its application gives about the same accuracy result as that of the classical hierarchy process. Financial directors of small and medium business enterprises get an opportunity to solve the problem of companies’ investments without resorting to services of analytical agencies specializing in such studies.

Keywords: analytic hierarchy process, decision processes, investment portfolio, intangible assets

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Authors: Fatima Ali Abbass, Hassan Ibrahim Rkein

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The number of entities worldwide that currently accept digital currency as payment is increasing; however, digital currency still is not widely accepted as a medium of exchange, nor they represent legal tender. At the same time, this makes accounting for cryptocurrency, as cash (Currency) is not possible under IAS 7 and IAS 32, Cryptocurrency also cannot be accounted for as Financial Assets at fair value through profit or loss under IFRS 9. Therefore, this paper studies the possible means to account for Cryptocurrency, since, as of today, there is not yet an accounting standard that deals with cryptocurrency. The request to have a specific accounting standard is increasing from top accounting firms and from professional accounting bodies. This study uses a mixture of qualitative and quantitative analysis in its quest to explore the best possible way to account for cryptocurrency. Interviews and surveys were conducted targeting accounting professionals. This study highlighted the deficiencies in the current way of accounting for Cryptocurrency as intangible Assets with an indefinite life. The deficiency becomes well highlighted, as the asset will then be subject to impairment, where under GAAP, only depreciation in the value of the intangible asset is recognized. On the other hand, appreciation in the value of the asset is ignored, and this prohibits the reporting entity from showing the true value of the cryptocurrency asset. This research highlights the gap that arises due to using accounting standards that are not specific for Cryptocurrency and this study confirmed that there is an urgent need to call upon the accounting standards setters (IASB and FASB) to issue accounting standards specifically for Cryptocurrency.

Keywords: cryptocurrency, accounting, IFRS, GAAP, classification, measurement

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Authors: Roman Asatryan

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The decision-making processes in Corporate Social Responsibility (CSR) among firms in general and airlines in particular have to do with the benefits that accrue through those investments. The crux of the matter is not whether to invest in CSR or not, but rather, how firms can quantify the benefits derived from such investments. This paper analyzes the cost benefit adjustment strategies for firms in the airline industry in their CSR strategy adoption and implementation. The adjustment strategies identified will enable firms in the airline industry to have a basis for determining the worth of such CSR investments. This paper discusses the cost and benefit analysis model in order to understand the ways airlines can reduce costs and increase returns on CSR, or balance the cost and benefits. The analysis from this study points to the fact that economic concepts especially the CBA are useful, though they are not without challenges. The challenge arises when it is problematic to express the real impact of the externality in monetary terms. The use of rational maximization of the gains may seem to be a rather optimistic goal mainly because of environmental variability, perceptual uncertainty, and imperfect knowledge about the potential externality. This paper concludes that the CBA model gives a basic understanding of the motivations for investing in intangible assets like CSR. Consequently, it sets the tone for formulating relevant hypothesis in empirical studies in investment in CSR in particular and other intangible assets in business operations.

Keywords: cost-benefit analysis, corporate social responsibility, airline industry

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Authors: L. Ozoliņa

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Place branding as a strategic marketing tool is applied in Latvia since 2000. The main objective of the study is to find unique connecting aspects of the intangible cultural heritage elements on the development of sustainable place branding. The study is based on in-depth semi-structured interviews with Latvian place branding experts and content analysis of Latvia's place brand identities. The study indicates place branding as an internal co-creational and educational process of all involved stakeholders of the place and highlights a critical view on the local place branding practices on the notability of the in-depth research of the intangible cultural heritage.

Keywords: belonging, identity, intangible cultural heritage, narrative, self-image, place branding

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Authors: Jiri Barta

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This paper deals with the prevention and management of emergencies. It focuses on the protection of assets of the critical infrastructure entities that are important to preventing, preparing for and management of emergencies and crisis situations. The paper defines assets and specifies their use and place in the process of crisis management and planning. Critical assets that are protected from the negative effects of emergency or crisis situation we can use in crisis management and response. This basic rule applies mainly to the substantial assets used in the protection of critical infrastructure processes.

Keywords: asset, continuity, critical infrastructure, crisis management process

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Authors: H. M. Avanesyan

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Economists have been discussing the importance of intangible assets for the success of organization for many years. The term intellectual capital was popularized in the 1990s by Thomas Stewart. “Intellectual capital is the knowledge, applied experience, enterprise processes and technology customer relationship and professional skills which are valuable assets to an organization.” Human capital – includes employee brainpower, competence, skills, experience and knowledge. Customer capital – includes relations and networks with partners, suppliers, distributors, and customers. The objective of the article is to assess one of the key components of organizational culture – organizational values. The focus of the survey was on assessing how intellectual capital presented in these values of the organization. In the conclusion section the article refers to underestimation of intellectual capital by the organization management and the various possible negative effects of the latter.

Keywords: human capital, intellectual capital, organizational culture, management, social identity, organization

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Authors: Mariusz Hofman

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The paper ‘Theoretical framework for value creation in Project-Oriented Companies’ is designed to determine, how organisations create value and whether this allows them to achieve market success. An assumption has been made that there are two routes to achieving this value. The first one is to create intangible assets (i.e. the resources of human, structural and relational capital), while the other one is to create added value (understood as the surplus of revenue over costs). It has also been assumed that the combination of the achieved added value and unique intangible assets translates to the success of a project-oriented company. The purpose of the paper is to present hypothetical and deductive model which describing the modus operandi of such companies and approach to model operationalisation. All the latent variables included in the model are theoretical constructs with observational indicators (measures). The existence of a latent variable (construct) and also submodels will be confirmed based on a covariance matrix which in turn is based on empirical data, being a set of observational indicators (measures). This will be achieved with a confirmatory factor analysis (CFA). Due to this statistical procedure, it will be verified whether the matrix arising from the adopted theoretical model differs statistically from the empirical matrix of covariance arising from the system of equations. The fit of the model with the empirical data will be evaluated using χ2, RMSEA and CFI (Comparative Fit Index). How well the theoretical model fits the empirical data is assessed through a number of indicators. If the theoretical conjectures are confirmed, an interesting development path can be defined for project-oriented companies. This will let such organisations perform efficiently in the face of the growing competition and pressure on innovation.

Keywords: value creation, project-oriented company, structural equation modelling

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Authors: I. K. Norziaton, M. D. Ridhuan, A. N. Nur Adura

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Assets misappropriation is becoming a major concern in organizations. Over the years, the Malaysian Auditor General has reported high occurrences of assets misappropriation at the federal, state and even local governments. It is surprising that assets misappropriation is not the only major concern in the public sector but it has also indicates a common sight in private sector. The current situation is rather disconcerting because employees are accountable to perform their jobs at the interest of the organizations. Various researches in the past has found that the incidence of assets misappropriation occurs when employees used the official vehicles, internet connection, computers, stationery and facilities for personal and family benefits. The issue of assets misappropriation has continue to be a major concern for organizations and its impact on the reputation and financial health can be enormous. Even though the issue seems to be trivial, yet, if it is left untreated, the symptoms will become an incurable disease that it will cause major leakages to the organizations. Hence, this paper highlights the common practices of assets misappropriation in public and private sectors. It also discusses why the acts of assets misappropriation occurs. Using the data through questionnaire survey, a total of 250 questionnaires were distributed to the private and public sectors employees. However 173 (69.2%) were returned and usable. This paper concludes that it is vital to promote awareness to the public and private sectors employees on issues of assets misappropriation. Assets misappropriation could have been avoided provided that the officers in charge are more vigilant, competent and practice high level of integrity in discharging their responsibilities towards the organizations.

Keywords: assets misappropriation, fraud, public sector, private sector

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Authors: Chandan M. S., Darshan G. A., Vyshnavi, Abhishek T.

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In the evolving world of technology and digital assets, non-fungible tokens (NFTs) have emerged as the latest advancement. These digital assets represent ownership of intangible items and hold significant value. Unlike cryptocurrencies, like Ethereum or Bitcoin, NFTs cannot be exchanged due to their nature. Each NFT has an indivisible value. NFTs not only pave the way for financial services but also open up fresh opportunities for creators, buyers and artists. To revolutionize financing in the DeFi space, this proposed approach utilizes NFTs generated from digital arts. By eliminating intermediaries, this innovative method ensures trust and security in transactions. The idea entails automating borrower-lender interactions through contracts while securely storing data using blockchain technology. Borrowers can obtain funding by leveraging assets such as estate, artwork and collectibles that are often illiquid. The key component of this system is contracts that independently execute lending agreements and collateral transfers within predefined parameters. By leveraging the Ethereum blockchain, this project aims to provide consumers with access to a platform offering a wide range of financial services. The demonstration illustrates how NFT lending and borrowing is managed through contracts, providing a secure and trustworthy transaction environment.

Keywords: blockchain, defi, NFT, ethereum, marketplace

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Authors: Katalin Juhasz-Dora

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Several studies have shown that physical environments, milieu, atmosphere and service space play a significant role in the consumer experience. In the case of themed servicescapes, different tangible assets (design, decoration, facilities, amenities), intangible assets (service, activities) contribute to the luxury guest experience. This current study summarizes the literature related to the guest experience in the case of luxury hotels. Based on the results of a case study, additional dimensions of guest experience are explored. The research findings contribute to the extension of literature by providing a conceptual framework in specific themed luxury hotels. Understanding the elements of themed servicescape and dimensions of guest experience play a significant role in consumer behavior. Implications for management and future research directions are presented.

Keywords: atmosphere, guest experience, luxury service, themed hotel

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Authors: S. Brahmi, S. Aitouche, M. D. Mouss

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Every modern company should measure the value of its intellectual capital and to report to complement the traditional annual balance sheets. The purpose of this work is to measure the intellectual capital in an Algerian company (or production system) using the Weightless Wealth Tool Kit (WWTK). The results of the measurement of intellectual capital are supplemented by traditional financial ratios. The measurement was applied to the National Company of Wells Services (ENSP) in Hassi Messaoud city, in the south of Algeria. We calculated the intellectual capital (intangible resources) of the ENSP to help the organization to better capitalize on its potential of workers and their know-how. The intangible value of the ENSP is evaluated at 16,936,173,345 DA in 2015.

Keywords: financial valuation, intangible capital, intellectual capital, intellectual capital measurement

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Authors: Mariam Vardiashvili

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The economic value of the asset impairment process is quite large. Impairment reflects the reduction of future economic benefits or service potentials itemized in the asset. The assets owned by public sector entities bring economic benefits or are used for delivery of the free-of-charge services. Consequently, they are classified as cash-generating and non-cash-generating assets. IPSAS 21 - Impairment of non-cash-generating assets, and IPSAS 26 - Impairment of cash-generating assets, have been designed considering this specificity.  When measuring impairment of assets, it is important to select the relevant methods. For measurement of the impaired Non-Cash-Generating Assets, IPSAS 21 recommends three methods: Depreciated Replacement Cost Approach, Restoration Cost Approach, and  Service Units Approach. Impairment of Value in Use of Cash-Generating Assets (according to IPSAS 26) is measured by discounted value of the money sources to be received in future. Value in use of the cash-generating asserts (as per IPSAS 26) is measured by the discounted value of the money sources to be received in the future. The article provides classification of the assets in the public sector  as non-cash-generating assets and cash-generating assets and, deals also with the factors which should be considered when evaluating  impairment of assets. An essence of impairment of the non-financial assets and the methods of measurement thereof evaluation are formulated according to IPSAS 21 and IPSAS 26. The main emphasis is put on different methods of measurement of the value in use of the impaired Cash-Generating Assets and Non-Cash-Generation Assets and the methods of their selection. The traditional and the expected cash flow approaches for calculation of the discounted value are reviewed. The article also discusses the issues of recognition of impairment loss and its reflection in the financial reporting. The article concludes that despite a functional purpose of the impaired asset, whichever method is used for measuring the asset, presentation of realistic information regarding the value of the assets should be ensured in the financial reporting. In the theoretical development of the issue, the methods of scientific abstraction, analysis and synthesis were used. The research was carried out with a systemic approach. The research process uses international standards of accounting, theoretical researches and publications of Georgian and foreign scientists.

Keywords: cash-generating assets, non-cash-generating assets, recoverable (usable restorative) value, value of use

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Authors: Kirstie Smith

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This paper elucidates the value of neighborhood perception as it contributes to the advancement of well-being for individuals and families within a neighborhood. Through in-depth interviews with city residents, this paper examines the degree to which key stakeholders’ (residents) evaluate their neighborhood and perception of resources and identify, access, and utilize local assets existing in the community. Additionally, the research objective included conducting a community inventory that qualified the community assets and resources of lower-income neighborhoods of a medium-sized industrial city. Analysis of the community’s assets was compared with the interview results to allow for a better understanding of the community’s condition. Community mapping revealed the key informants’ reflections of assets were somewhat validated. In each neighborhood, there were more assets mapped than reported in the interviews. Another chief supposition drawn from this study was the identification of key development partners and social networks that offer the potential to facilitate locally-driven community development. Overall, the participants provided invaluable local knowledge of the perception of neighborhood assets, the well-being of residents, the condition of the community, and suggestions for responding to the challenges of the entire community in order to mobilize the present assets and networks.

Keywords: community mapping, family, resource allocation, social networks

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Authors: Tomas Seidl

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'Enjoy the Czech traditions with all sences!' is the main communication headline of one of the major current marketing project representing the intangible cultural heritage of the Czech Republic to its visitors. The project CZ.1.06/4.1.00/12.08915 and CZ.1.06/4.1.00/12.08916 which is solved in the period 2013-2015 is co-financed form the EU financial sources from the Integrated Operational Programme. The primary goal of the project was to analyze the dislocation and potential of the intangible cultural heritage in the Czech Republic. Further goal was to prepare a useful regionalization. An as solution based on the outcomes the creative and media strategy was created and prepared. The processor – CzechTourism expect the following web and mobile application development and successful marketing campaign in 2015.

Keywords: traditions, intangible cultural heritage, Czech Republic, CzechTourism, digital performance

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Authors: Saima Akbar

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The global financial crisis severely and adversely impacted the Pakistanis’ financial setups with far-reaching consequences for its victims. This study aimed to analyze the various determinants of the banks’ financial performance in Pakistan. The stepwise multiple regression analysis and pre-post analysis were carried out in this regard by using SPSS ver 22. The study found that the assets quality is the most influential determinant of return over assets followed by bank size and solvency. Advances, liquidity, investments, and size have positive while poor assets quality and deposits have a negative impact on the return over assets. The comparison of the pre-crisis and post-crisis coefficient values of the independent variables revealed that the global financial crisis had exerted a significant impact on the relative ability of the financial performance determinants to explain variations in return over assets.

Keywords: pre-crisis, post-crisis, coefficient values, determinants

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Authors: Keroles Akram Saed Ghatas

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The near future will bring significant changes in modern organizations and management due to the growing role of intangible assets and knowledge workers. The area of copyright, intellectual property, digital (intangible) assets and media redistribution appears to be one of the greatest challenges facing business and society in general and management sciences and organizations in particular. The proposed article examines the views and perceptions of fairness in digital media sharing among Harvard Law School's LL.M.s. Students, based on 50 qualitative interviews and 100 surveys. The researcher took an ethnographic approach to her research and entered the Harvard LL.M. in 2016. at, a Face book group that allows people to connect naturally and attend in-person and private events more easily. After listening to numerous students, the researcher conducted a quantitative survey among 100 respondents to assess respondents' perceptions of fairness in digital file sharing in various contexts (based on media price, its availability, regional licenses, copyright holder status, etc.). to understand better . .). Based on the survey results, the researcher conducted long-term, open-ended and loosely structured ethnographic interviews (50 interviews) to further deepen the understanding of the results. The most important finding of the study is that Harvard lawyers generally support digital piracy in certain contexts, despite having the best possible legal and professional knowledge. Interestingly, they are also more accepting of working for the government than the private sector. The results of this study provide a better understanding of how “fairness” is perceived by the younger generation of lawyers and pave the way for a more rational application of licensing laws.

Keywords: cognitive impairments, communication disorders, death penalty, executive function communication disorders, cognitive disorders, capital murder, executive function death penalty, egyptian law absence, justice, political cases piracy, digital sharing, perception of fairness, legal profession

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Authors: Farzam Chakherlouy, Amirmehdi Dokhanchi

Abstract:

Nowadays organizations have to identify, evaluate and manage intangible assets which enable them to provide maximum requirements to achieve their goals and strategies. Organizations also have to try to promote and improve these kinds of assets continuously. It seems necessary to implement developed strategies in today’s competitive world where all the organizations and companies spend great amounts of expenses for developing their own strategies. In fact, after determining strategies to be implemented, the management process is not completed and it will not have any effect on the success and existence of the organization until these strategies are implemented. The objective of this article is to define the intellectual capital and it components and studying the impact of intellectual capital on the implementation of strategy based upon the Bozbura model. Three dimensions of human capital, relational capital, and the structural capital. According to the test’s results, the correlation between the intellectual capital and three components of strategic implementation (leadership, human resource management, and culture) has not been approved yet. According to results of Friedman’s test in relation with the intellectual capital, the maximum inadequacy of this company is in the field of human capital (with an average of 3.59) and the minimum inadequacy is in the field of the relational capital (customer) with an average of 2.83. Besides, according to Friedman test in relation with implementation of the strategy, the maximum inadequacy relates to the culture of the organization and the corporate control with averages of 2.60 and 3.45 respectively. In addition, they demonstrate a good performance in scopes of human resources management and financial resources management strategies.

Keywords: Bozbura model, intellectual capital, strategic management, implementation of strategy, Modiran Ideh Pardaz company

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Authors: Muhammad Umar

Abstract:

Safety and Assets management is considering a backbone of every department. GIS in the Railway become very important to Manage Assets and Security through Digital Maps and Web based GIS Maps. It provides a complete frame of work to the organization for the management of assets. Pakistan Railway is the most common and safest mode of traveling in Pakistan. Due to ever-increasing demand of transporting huge amount of information generated from various sources and this information must be accurate. This creates problems for Passengers and Administration that causes finical and time loss. GIS Solve this problem by Digital Maps & Database. It provides you a real time Spatial and Statistical analysis that helps you to communicate and exchange the information in a sophisticated way to the users. GIS Based Web system provides a facility to different end user to make query at a time as per requirements. This GIS System provides an advancement in an organization for a complete Monitoring, Safety and Decision System for tracks, Stations and Junctions that further use for the Analysis of different areas i.e. analysis of tracks, junctions and Stations in case of reconstruction, Rescue for rail accidents and Natural disasters .This Research work helps to reduce the financial loss and reduce human mistakes helps you provide a complete security and Management system of assets.

Keywords: Geographical Information System (GIS) for assets management, geo spatial database, railway assets management, Pakistan

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Authors: Marcelo Müller Beuren, José Luis Duarte Ribeiro

Abstract:

Studies point that Brazilian large airports are not managing their assets efficiently. Therefore, organizations seek improvements to raise their asset’s productivity. Hence, identification of assets useful life in airports becomes an important subject, since its accuracy leads to better maintenance plans and technological substitution, contribution to airport services management. However, current useful life prediction models do not converge in terms of determinant elements used, as they are particular to the studied situation. For that reason, the main objective of this paper is to identify the determinant elements for a useful life of major assets in airports. With that purpose, a case study was held in the key airport of the south of Brazil trough historical data analysis and specialist interview. This paper concluded that most of the assets useful life are determined by technical elements, maintenance cost, and operational costs, while few presented influence of technological obsolescence. As a highlight, it was possible to identify the determinant elements to be considered by a model which objective is to identify the useful life of airport’s major assets.

Keywords: airports, asset management, asset useful life

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Authors: Yiqi Wu, Simon Tait, Andrew Nichols

Abstract:

Management of UK railway drainage assets is challenging due to the large amounts of historical assets with long asset life cycles. A major concern for asset managers is to maintain the required performance economically and efficiently while complying with the relevant regulation and legislation. As the majority of the drainage assets are buried underground and are often difficult or costly to examine, it is important for asset managers to understand and model the degradation process in order to foresee the upcoming reduction in asset performance and conduct proactive maintenance accordingly. In this research, a Markov chain approach is used to model the deterioration process of rail drainage assets. The study is based on historical condition scores and characteristics of drainage assets across the whole railway network in England, Scotland, and Wales. The model is used to examine the effect of various characteristics on the probabilities of degradation, for example, the regional difference in probabilities of degradation, and how material and shape can influence the deterioration process for chambers, channels, and pipes.

Keywords: deterioration, degradation, markov models, probability, railway drainage

Procedia PDF Downloads 180