Template-Type: ReDIF-Article 1.0 Author-Name: Ncedo Cameron Xhala Author-Name: Juraj Nemec Author-Name: Kahilu Kajimo-Shakantu Title: The Breadth of Success and Failure Factors with PPPs Implementation Abstract: The financing of public infrastructure investment through public-private partnerships faces daunting challenges related to the success of implementation of public infrastructure investment. There are multi-dimensional competing factors which inhibit the short and long-term implementation of PPPs, some of them may result to failure of implementation. The implementation of PPPs requires a set of success factors and its positive result is not automatic. This paper offers an overview of challlenges facing the implementation of PPPs and lists the most important success factors which increase the chance for successful implementation of PPPs. This paper further explores the range and ranking of the most important successful factors required for the realization of PPPs. Keywords: Investment, Public Infrastructure Classification-JEL: H89 Pages: 05-16 Volume: 2017 Issue: 2 Year: 2017 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=178.pdf File-URL: http://www.vse.cz/efaj/178 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:2:id:178:p:05-16 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/178 Template-Type: ReDIF-Article 1.0 Author-Name: Bohumil Král Author-Name: Grzegorz Mikołajewicz Author-Name: Jarosław Nowicki Author-Name: Libuše Šoljaková Title: Professional Competences of Controllers: The Case of Poland Abstract: The article presents the results of the project regarding the development of the requirements to controllers’ professional competences. The aim of the empirical part of the study is to assess the current situation in Poland in this field. During the study, opinions of two expert groups are compared. The respondents from the first group are responsible for development of controllers’ professional competences and education. The respondents from the second group act as controllers in everyday business. The research refers to the following areas of controllers’ work: their position in the company, general and specific content of controllers’ activities, their authority and responsibility, requirements for education, requirements for ICT competencies, professional skills and practical experience, their role in ethical aspects of business, selection of potential candidates for a controller position, requirements to their continuing professional development and quality assurance of controllers’ work as well as the importance of analysed areas for an effective controlling system in enterprise. Keywords: Controller, Professional Competence, Education, Skills, Experience, Quality assurance Classification-JEL: M41 Pages: 17-40 Volume: 2017 Issue: 2 Year: 2017 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=179.pdf File-URL: http://www.vse.cz/efaj/179 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:2:id:179:p:17-40 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/179 Template-Type: ReDIF-Article 1.0 Author-Name: Jan Tecl Title: Labor Taxes and Decision about FDI in the EU Abstract: This paper analyzes the relationship between tax variables and foreign direct investments. There are many studies with analysis of influence of corporate income tax, but only few with focus on individual taxation and social security contributions. The analysis is done for the decision if do FDI or do not do and about decision about amount of FDI. On the decision about realization of FDI has impact GDP per capita of home and partner country and distance between countries. GDP per capita of home country increase probability of location of FDI, GDP per capita and distance decrease the probability of the location of FDI in the partner country. Based on the results, on the amount of FDI have positive impact GDP variables and other variables - e.g. differences in corporate tax rate. Negative impact has distance between countries. The impact of social security payment is not obvious, because it differs based on the fact of average wage of employee (for higher than average earnings the relationship is negative, for average earnings the relationship is positive). Keywords: Taxation, FDI, Individual taxation Classification-JEL: F21, H24 Pages: 41-54 Volume: 2017 Issue: 2 Year: 2017 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=180.pdf File-URL: http://www.vse.cz/efaj/180 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:2:id:180:p:41-54 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/180 Template-Type: ReDIF-Article 1.0 Author-Name: Néstor Lázaro-Gutiérrez Author-Name: Irene Barainca-Vicinay Author-Name: Ana Bilbao-Goyoaga Title: Who Said Accounting Was Boring? Let’s Play Cards. The DAC Project Abstract: Accounting is often regarded as an abstract -and hence, boring- subject by students, although it is strongly linked to real life. In this paper, an experimental activity is presented as a complementary tool to theoretical classes in the subject Introduction to Finance Accounting, taught in English at the University of the Basque Country (UPV/EHU). This article aims at showing the use of the DAC project as a methodology that will help foster the motivation of those students as well as their understanding of the basic accounting concepts. Using several traditional card games, the authors expect to create a user-friendly learning environment, where the students feel motivated towards their self-learning construction process and can, at the same time, become comfortable with the basic accounting concepts and terminology in a CLIL (Content and Language Integrated Learning) English subject. After a thorough revision of the literature on games being used for educational purposes, we explain how the DAC Project works in class, identify the main impacts on learning, analyse the outputs and reach some relevant conclusions. The main results of the literature consulted show that using cards in Higher Education produces significant improvement. Keywords: Serious games, Cards, Introduction to Financial Accounting Classification-JEL: A220 Pages: 55-72 Volume: 2017 Issue: 2 Year: 2017 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=181.pdf File-URL: http://www.vse.cz/efaj/181 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:2:id:181:p:55-72 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/181 Template-Type: ReDIF-Article 1.0 Author-Name: Tatiana Dolgikh Title: Does the Auditor Have a Direct Influence on the Financial Statement Quality? Abstract: In the modern process of globalization, IFRS standards are widely used in the financial world, Russian Federation is one of these examples. The application of IFRS in Russian Federation first began in the early 90-ies of the twentieth century. During IFRS adoption many companies were involved in this process. Nowadays, a big part of all Russian companies obligatory use IFRS standards to prepare their statements. The purpose of this article is to analyse current practices of financial reporting procedures, its compliance with the rules of the IAS 1 as well as identifying the dependencies between the auditor selection and the quality of reporting. For this paper, a special Questionnaire was developed and for each selected organization a special profile, which included analysis of all financial statements for the period of the 2015 year was created. The study shows that the financial reports quality of the largest Russian companies on a high level. However, many companies face the problem of RAS and IFRS differences during reports transformation that directly influences its quality. During the study process it becomes clear, that auditor has a direct impact on the financial statements quality. Keywords: IFRS, Reports, Quality, Russian Companies Classification-JEL: M41, M42 Pages: 73-90 Volume: 2017 Issue: 2 Year: 2017 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=182.pdf File-URL: http://www.vse.cz/efaj/182 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:2:id:182:p:73-90 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/182 Template-Type: ReDIF-Article 1.0 Author-Name: Welc Jacek Title: EBITDA vs. Cash Flows in Bankruptcy Prediction on the Polish Capital Market Abstract: One of the elements of company’s evaluation is an analysis of bankruptcy risk metrics. In this study, the accuracy of bankruptcy predictions generated by EBITDA-based and cash flow-based liabilities-coverage ratios is evaluated within a sample of data from the Polish market. The study is based on a sample of 92 companies, in which case a bankruptcy filing was announced in a period between the beginning of 2009 and the end of the first half of 2016. The statistical analysis has confirmed the usefulness of the investigated liabilities-coverage ratios. Even though the sample covers wide variety of businesses, the logit models with only one ratio used as an explanatory variable are capable of identifying bankrupt firms (with one-period-ahead forecast horizon) in about 66-76% of cases. However, this research has not confirmed the supremacy of operating cash flows over EBITDA in predicting financial distress. Keywords: Bankruptcy prediction, Fundamental analysis, Ratio analysis, EBITDA, Operating cash flows Classification-JEL: G32, G33 Pages: 91-103 Volume: 2017 Issue: 2 Year: 2017 File-URL: http://www.vse.cz/efaj/download.php?jnl=efaj&pdf=183.pdf File-URL: http://www.vse.cz/efaj/183 File-Format: text/html Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:2:id:183:p:91-103 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlefa/references/183