This study concerns the implications of the discretion in the cut-off point in the accounting method for research and development. Our research problem targets the issues to reduce the existing research gap: - "Does the choice of accounting method for research and development matter when a creditor evaluates a company for a credit granting decision?" - "How does the accounting method for research and development matter in a credit granting decision?" Our study aims to answer these questions by investigating and analyzing the credit granting assessment and by interviewing creditors at the major banks in Sweden. Fictitious case scenarios provide in-depth information about how the accounting methods matter for a credit granting decision. We develop this study by gathering existing material regarding accounting standards, the accounting method and the credit granting assessment. Previous studies about credit granting and the accounting methods supplement the theoretical material. The approach to this study is a hermeneutic approach that tries to grasp the entire picture of the respondents' opinion about the accounting methods. To gain detailed and extensive information from the respondents, we use a qualitative research with semi-structured interviews. The research sample consists of experienced creditors at the largest banks in Sweden. This is to ensure relevant and informative answers on our questions. We utilise the four case scenarios to encourage the respondents to elaborate upon the accounting methods for R&D. This provides detailed knowledge about how the accounting methods matter for a credit granting decision. The respondent states that abnormal values in the R&D account are suspicious and that investigation and adjustments of these values occurs if necessary. From this summarised statement, we draw the conclusion that the accounting methods for R&D matter in a credit granting decision. However, we also establish that other factors are more influential on the decision. Furthermore, we find that the creditors examine the content of the R&D account because the methods and its content have different impact on the financial statements. The expense method indicates a negative impact on the credit granting decision if the company cannot carry the costs, while the recognition method gives an appearance of stronger financial statements. However, the recognition method also gives rise to suspicions if the company relies on previous achievements. We conclude that depending on the amount of R&D both methods can be perceived as an advantage and a disadvantage for a credit granting decision, however, our main finding suggests that a revaluation of the abnormal values in the R&D account occurs. From the support of our findings, we believe that our research has accomplished the objective of the study and we therefore believe that we have contributed to the existing knowledge in the subject.

Recently, the market of mutual fund is getting larger and larger; and the need of determining which fund to buy is more important as well. In this study, we want to find out the relationship between mutual fund managerial team and mutual fund performance. We examine the performance of 64 mutual funds over the 3 year period 1997 through 1999 using Fama and French¡¦s 3-factor model. Then we test the persistence of mutual fund performance and whether a mutual fund manager have market timing ability. Results show that a fund¡¦s performance is significantly impacted by its manager¡¦s number, fund age, turnover, expense, and mutual fund company¡¦s age. All else equal, investors can expect better performance from funds with few manager numbers, low fees, low buy turnovers, high sale turnovers, and younger mutual fund companys. On average, mutual fund managers do not have market timing ability, and mutual funds exist performance fersistence over the 3 year period.

Įmonė – tai pelno siekiantis ūkio subjektas. Įmonės pagrindinis tikslas iš savo veiklos gauti pelną. Tai yra pagrindinis įmonės veiklos rezultato rodiklis, kurio dydį įtakoja pajamos bei sąnaudos. Todėl, kad būtų pasiektas geras rezultatas, įmonei reikia didinti pajamas ir kiek įmanoma mažinti sąnaudas. Sąnaudų mažinimas įtakoja geresnius įmonės veiklos rezultatus, kas yra labai aktualu tiek įmonės valdytojams, tiek išoriniams vartotojams. Finansų valdymo magistro baigiamojo darbo tema yra aktuali tuo, kad pasirinktos įmonės UAB „Kėdbusas“ finansinė situacija yra būdinga daugumai tokio pobūdžio įmonių Lietuvoje, todėl buvo pasirinkta išanalizuoti įmonės pajamas ir sąnaudas, kad būtų išsiaiškintos nuostolingos veiklos priežastys bei pasiūlyti galimi problemos sprendimo variantai. Tyrimo problema. Kokią įtaką įmonės veiklos rezultatams turi pajamos ir sąnaudos bei jų apskaita. Tyrimo objektas. UAB „Kėdbusas“ pajamos ir sąnaudos, jų apskaita ir įtaka įmonės veiklos rezultatams. Tyrimo tikslas. Įvertinti įmonės pajamų ir sąnaudų įtaką įmonės veiklos rezultatams ir pateikti siūlymus pajamų ir sąnaudų optimizavimui. Tyrimo uždaviniai: 1. Atlikti pajamų ir sąnaudų sampratos interpretacijų analizę. 2. Pateikti pajamų ir sąnaudų sudėties, apskaitos bei pripažinimo teoriją. 3. Išnagrinėti įmonės apskaitos politiką, pajamų ir sąnaudų pripažinimą. 4. Interviu bei dokumentacijos analizės pagalba atlikti UAB „Kėdbusas“ pajamų ir sąnaudų SSGG analizę. 5. Atlikti įmonės pajamų ir sąnaudų... [toliau žr. visą tekstą] / A company – profit-making economics subject. The main objective of any company is to get profit from its activity. Profit is the main indicator of company work, which is influenced by incomes and expenses. Accordingly, to achieve a good result the company needs to increase its incomes and to reduce expenses as much as it can. Better results of company work are influenced by expense reducing, which is very relevant not only to directors but also to consumers. The subject of the Master‘s Work in Finance Management is actual, because financial situation of selected joint-stock company (JSC) „Kėdbusas“ is typical like in majority of such companies in Lithuania, so that‘s why authoress chose to analyse company income and expense in order to find out reasons of loss-making and to put forward a proposal about possible solutions of the problem. The problem of research. What is an influence of income and expense and their accounting for the company results. The subject of research. JSC „Kėdbusas“ income and expensediture, acounting and the influence for company results. The aim of research. To estimate the influence of income and expense for company results and to put forward a proposal for income and expenditure optimization. The tasks of research: 1. To do analysis of income and expense conception interpretation. 2. To offer the theory of income and expenditure composition, accounting and their recognition. 3. To analyse the accounting policy of company, its income and... [to full text]

Made available in DSpace on 2014-12-17T14:13:36Z (GMT). No. of bitstreams: 1 SolangeMRNL.pdf: 964932 bytes, checksum: 3a047e9fe244b1c951656bee022a2335 (MD5) Previous issue date: 2008-08-05 / Health and life quality can be preserved and improved by the regular practice of physical activity. Sedentarism is an undesirable condition and represents risk for the health. This study has as objective to analyze the caloric cost and the basic physical qualities in college students of different technical levels. The research was descriptive and applied to 35 students, volunteers, from 19 to 34 years old, from both sexes, participants of the Dance Body of State University of Piau?, in the city of Teresina, in the activities of folkloric dance and walking. The caloric cost was evaluated with the accelerometer Caltrac 100/100 Plan, the basic physical qualities through the sitting and reaching test (flexibility); the vertical impulsion test, crouch (inferior members strength); the abdominal test (located muscular resistance); and the Burpee test (motor coordination). The participants were separated in two groups according to their time of practice: group 1 (beginners), group 2 (advanced). The parametric tests t by Student and correlation by Pearson were used, observing a significance p<0,05 in the sense of comparing the observed results, which showed that there are no significant differences between the two groups of students, according to the time of practice, in which concerns the caloric cost. The results of Strength, Resistance and Co-ordination test did not differ so much between the two groups. On the other hand, in the variable flexibility significant differences were observed (sig.p = 0,0022 << 0,05) between the observed groups, being Group 1 (31,5 ? 6,3) meaningfully less than Group 2 (38,1 ? 4,9), which constitutes a difference of about 21%. Such results present relations of caloric cost compensation between the studied groups, the motivation to the beginners group and flexibility to tne advanced group, justifying the lack of significant distinctions. In this sense the folkloric dance, as a physical activity, appears to be efficient, for significant co-relations are still noticed between the caloric cost levels of the dance with the walking, besides not presenting expressive differences between them. / A sa?de e a qualidade de vida podem ser preservadas e aprimoradas pela pr?tica regular de atividade f?sica. O sedentarismo ? condi??o indesej?vel e representa risco para a sa?de. Este estudo tem como objetivo analisar o gasto cal?rico e qualidades f?sicas b?sicas em universit?rios de diferentes n?veis t?cnicos. A pesquisa foi descritiva e aplicada a 35 universit?rios, volunt?rios, com idade entre 19 a 34 anos, de ambos os sexos, participantes do Corpo de Dan?a da Universidade Estadual do Piau?, na cidade de Teresina, nas atividades de dan?a folcl?rica e caminhada. Foi avaliado o gasto cal?rico com o aceler?metro Caltrac 100/100 Plan, as qualidades f?sicas b?sicas atrav?s do teste de sentar e alcan?ar (flexibilidade); o teste de impuls?o vertical, agachamento (for?a dos membros inferiores); o teste abdominal (resist?ncia muscular localizada); e o teste de Burpee (coordena??o motora). Os participantes foram separados em dois grupos de acordo com o tempo de pr?tica: grupo 1(iniciantes), grupo 2(avan?ados).Utilizaram-se os teste param?tricos t de Student e correla??o de Pearson, observando uma signific?ncia p<0,05 no sentido de comparar os resultados observados, que mostraram n?o existirem diferen?as significativas entre os dois grupos de universit?rios, segundo o tempo de pr?tica, quanto ao gasto cal?rico. Os resultados dos testes de For?a, Resist?ncia e Coordena??o Motora n?o diferiram significativamente entre os dois grupos. Por outro lado, observou-se na vari?vel flexibilidade diferen?as significativas (sig.p = 0,0022 << 0,05 ) entre os Grupos observados, sendo o Grupo 1 ( 31,5 ? 6,3 ) significativamente menor que o Grupo 2 (38,1 ? 4,9 ) que constituiu uma diferen?a de amplitude da ordem de 21% aproximadamente. Tais resultados apresentaram rela??es de compensa??o do gasto cal?rico entre os grupos estudados, a motiva??o para o grupo iniciante e a flexibilidade para o grupo avan?ado, justificando a aus?ncia de distin??es significativas. Nesse sentido a dan?a folcl?rica, como atividade f?sica mostrou-se eficaz, pois ainda observaram-se correla??es significativas entre os n?veis de gasto cal?rico da dan?a com a caminhada, al?m de n?o apresentarem diferen?as expressivas entre as mesmas

Submitted by Rafael Santana (rafael.silvasantana@ufpe.br) on 2017-05-09T19:24:12Z No. of bitstreams: 2 license_rdf: 1232 bytes, checksum: 66e71c371cc565284e70f40736c94386 (MD5) DissertaçãoFinal (1) (1) (2) REEVISADA. (1) (1).pdf: 762955 bytes, checksum: 56519821f6c9c34c7e227a7c9ea42d8b (MD5) / Made available in DSpace on 2017-05-09T19:24:12Z (GMT). No. of bitstreams: 2 license_rdf: 1232 bytes, checksum: 66e71c371cc565284e70f40736c94386 (MD5) DissertaçãoFinal (1) (1) (2) REEVISADA. (1) (1).pdf: 762955 bytes, checksum: 56519821f6c9c34c7e227a7c9ea42d8b (MD5) Previous issue date: 2016-03-10 / CAPES / Um dos principais desafios em pauta para o SUS é o seu financiamento, que envolve tanto a insuficiência dos recursos disponíveis frente às necessidades da população, como a precária qualidade da gestão e ineficiência do gasto em saúde. Este trabalho objetivou analisar a relação entre a despesa per capita em saúde e o impacto na Taxa de Mortalidade Infantil-TMI nas quatro Macrorregiões do Estado Pernambuco no período de 2008 a 2012. Estudo quantitativo, descritivo com dados secundários. Foram analisados as informações referentes aos 184 municípios de PE, sendo esses agrupados em 4 Macrorregionais de Saúde, de acordo com a divisão política administrativa de saúde do Estado de PE. Os dados foram analisados através do método de Pearson e do modelo econométrico de regressão múltipla, utilizando o método de dados em painel. Verificou-se que a despesa com saúde per capita nas quatro Macrorregiões de Pernambuco mostrou tendência ascendente no período de 2008 a 2012. Observou-se também que a Taxa de Mortalidade InfantilTMI nas quatro Macrorregiões, assim como no Estado de Pernambuco e no Brasil, apresentaram uma tendência de redução. Contudo, há importantes diferenças na redução da TMI entre as Macrorregiões. Na análise da correlação bivariada entre a despesa per capita em saúde e a TMI nas quatro Macrorregiões de saúde, os dados mostraram que as variáveis estão correlacionadas em todas as quatro Macrorregiões, com destaque para a Macrorregião II (p = 0,011 e de r2 = 0,91) , que apresentou a correlação mais significante entre as Macrorregionais de saúde. Na montagem do modelo econométrico, os resultados mostraram que mesmo com a introdução de outras variáveis que também influenciam a TMI, o efeito da despesa per capita/ano na TMI continua significativo, conferindo a despesa per capita com saúde um grau de robustez. / One of the major challenges on the agenda for the NHS is its funding, which involves both the inadequacy of available resources across the population's needs, as the poor quality of management and inefficiency of spending on health. This study aimed to analyze the relationship between per capita health expenditure and the impact on Mortality Rate Child-TMI in the four Macroregions of Pernambuco State in the period 2008 to 2012. quantitative, descriptive study using secondary data. We analyzed the information regarding the 184 municipalities of PE, these being grouped into 4 macro-regional Health, according to the administrative political division of health PE status. Data were analyzed using the method of Pearson and econometric multiple regression model using panel data method. It was found that expenditure on health per capita in the four Macroregions of Pernambuco showed upward trend in the period 2008 to 2012. It was also observed that the mortality rate Child-TMI in the four Macroregions, as well as in the state of Pernambuco and Brazil , showed a downward trend. However, there are important differences in the reduction of IMR between Macroregions. In the analysis of the bivariate correlation between the per capita expenditure on health and IMR in four health Macroregions, the data showed that the variables are correlated in all four Macroregions, with emphasis on the macroregion II (p = 0.011 and r2 = 0 , 91), which had the most significant correlation between health macro-regional. In the assembly of the econometric model, the results showed that even with the introduction of other variables also influence the IMR, the effect of expenditure per capita / year in IMR remains significant, giving the per capita expenditure on health a degree of robustness.

A partir das demonstrações contábeis publicadas, com a utilização de modelagem econométrica, esta tese teve como objetivo principal estimar a composição da estrutura de custos e despesas que tiveram rentabilidade e lucratividade operacional acima da média dos setores selecionados. Extraíram-se inferências sobre a composição da estrutura de custos e despesas das empresas e efetuou-se uma análise relacionando essa estrutura com a rentabilidade e a lucratividade operacional acima da média de cada setor selecionado dentro do período de 2005 a 2009. As variáveis de análise foram extraídas da base de dados Economática. Foram selecionados os setores Têxtil e Siderurgia/Metalurgia, porque apresentaram maior quantidade de dados completos no período estudado. A técnica de modelagem quantitativa empregada foi a análise de regressão com dados em painel, com utilização do modelo de efeito fixo, com coeficiente angular constante e intercepto variando entre as entidades. A partir dos dados dos modelos, foi calculada a composição média de custos e despesas fixas (CDF) e custos e despesas variáveis (CDV) sobre o total de custos e despesas totais (CDT). Paralelamente, também foi calculada a margem operacional média (MO) e a rentabilidade operacional média (RO) dessas empresas para o mesmo período estudado. Além disso, uma breve discussão das características individuais de cada setor e uma análise do contexto econômico do período de 2005 à 2009 foi realizada para compreender possíveis influências no desempenho das empresas nos setores pesquisados. Desta análise constatou-se que o período com menor participação de CDF foi o ano de 2008, coincidindo com o período de intensificação da crise financeira nos mercados maduros. Com base na pesquisa realizada, constatou-se uma correlação forte e negativa entre CDF e os indicadores de desempenho (MO e RO). Constatou-se ainda que a estrutura de custos e despesas do setor Siderúrgico/Metalúrgico permite maior participação de CDF do que a do setor Têxtil. No setor Siderúrgico/Metalúrgico o intervalo da proporção de CDF nas empresas com desempenho acima da média no período foi de 30,34% a 30,60%, enquanto que no setor Têxtil foi de 20,15% a 20,76%. / The main objective of this dissertation is to estimate the composition of the cost and expense structure of companies using their published financial statements, with the use of econometric modeling. Inferences was drawn up for the composition of cost and expense structure of the companies and an analysis was made linking this structure with return on assets and operating profitability above average of each selected industry within the period 2005 to 2009. The variables of analysis have been extracted from Economática database. The Textile and Steel/Metallurgy industries were selected because they presented more complete data in the period investigated. The quantitative modeling technique employed was regression analysis with Panel data, using the fixed effect model with constant angular coefficient and intercept ranging between entities. Data from the models was calculated as the average composition of fixed costs and expenses (CDF) and variable costs and expenses (CDV) on the total costs and expenses (CDT). In parallel, was also calculated the average operating margin (MO) and the average operating return on assets (RO) of these companies for the same period. In addition, economic scenario data of the period was reviewed in order to identify if there was any possible significant influence on the variation of costs and expenses structure. The study results show that the period with lower participation of CDF was in 2008, coinciding with the period of intensification of the financial crisis in mature markets. Also the cost and expense structure with less participation of CDF is related to greater MO and RO. It was also found that the cost and expense structure of Steel/Metallurgical industry allows greater participation of CDF than the textile sector. In the Steel/Metallurgical industry, the percentage range of CDF in companies with above-average performance in the period was of 30.34% to 30.60%, while in the Textile sector was of 20.15% to 20.76%.

The objective of this thesis is to describe an operative controlling in the division, reveal its deficiencies in margin recording and propose improvements to the system. Further, to calculate the amount of administrative expenses of the division in years 2006 -- 2008 (including the plan for 2009) and evaluate its progression regarding the incomes. The thesis is divided into two parts- The first part forms a theoretic basis in the area of price splitting, calculation and operative controlling. The second part is focused on actual problems in operative controlling of Dalkia Česká Republika, a.s. -- Divize Praha.

Active weight, active expense ratio and active alpha are measures that can be calculated with relative ease for any fund using publicly available data. However, for active weight to be truly useful to an investor the relationship between these quantities and fund performance needed to be explored in greater detail. Furthermore, the costs of South African unit trust funds had not been studied using Miller’s techniques and needed further study. Finally, active weight had not been used to study the evolution of active management over time. Using quarterly South African unit trust fund data this study delivered on the following key findings: that funds with higher active weight provide excess returns to their investors; that funds with a higher active expense ratio do not necessarily provide greater returns; and that the active alpha for South African unit trusts is negatively correlated with fund performance. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

The main goal of my work is to set the criteria which have an influence on the profit of the ski resorts. The topic deals with building valuation, public database and data about air temperature. The part of the thesis is about building valuation of two companies that own chosen ski resorts. The valuation is done by the definite valuation regulation, single objects in the way given by the valuation notice. For main influential criteria was needed to get the information about profit and expense, this information was necessary for assessment of the company profit. From this information we can say that gross profit relies on the rent which both companies have to pay for ski lift and lift area. Assessment of criteria is about the location of the ski resorts. The most important criteria are the accommodation capacity and the weather. The accommodation capacity is going together with attendance. Because of the possibility of sleeping over the visitors of the ski resorts, the weather and the air temperature have an influence on the snow quality and this is going together with the length of the skiing season.

在社會與商業性健保之醫療保障不足的情形下，重大傷病的龐大醫療費用 與醫療費用的上漲仍可能致使社會大眾對於醫療費用有沉重的負擔，故本 文將藉由美國近年來快速成長的高額醫療費用保險以作為我國發展高額醫 療保障保險的參考；本文並將保險人為避免道德危險與控制醫療資源的浪 費的措施作一探討。本文共分為五個章節，第一章旨在說明本文之研究動 機、目的、方法、範圍與限制。第二章在說明美國高額醫療費用保險之起 源、意義、內容與其要點。第三章旨在說明影響高額醫療費用保險費計算 之因素，及其純保費、毛保費與準備金之計算公式。第四章旨在探討現今 我國社會保險與商業健康保險之給付內容，並就現有高額醫療費用保險保 單進行深入的瞭解；此外，並針對未來我國高額醫療費用保險之發展及限 制亦提供論述。第五章旨在就本文各章節研究之心得，作一總結；並對國 內的情況提出建議。