European Financial and Accounting Journal, 2009 (vol. 4), issue 4
Introduction
Twenty Years of Financial and Bank Reforms in the Czech Republic - Bird View
Bohumil Král
European Financial and Accounting Journal 2009, 4(4):4-7 | DOI: 10.18267/j.efaj.75 
Dear readers, who was afraid that conference "Twenty years of financial and bank reforms in the Czech Republic" which was organized on November 11, 2009 by Faculty of Finance and Accounting of the University of Economics, Prague in collaboration with Czech National Bank, will be mainly nostalgic and memory optimism hindsight to years of transformation, was pleasantly surprised. Of course, it does not mean the data and events of important transformation steps have not been mentioned. They have been, however, used by most of presenters to topical and sometimes also critical considerations about topics highly substantial for the future. I believe that...
Articles
Can Capital Ratios be the Centre of Banking Regulation - A Case Study
Milena Marinova
European Financial and Accounting Journal 2009, 4(4):8-34 | DOI: 10.18267/j.efaj.76
The application, or to be more precise, the misapplication of securitization in the mortgage market had fatal consequences for the financial sector worldwide. More over securitization techniques enabled single banks to reduce their individual risk while at the same time transferred greater risk to the financial system. Meanwhile a lot was written on the causes for the recent financial crisis. In most cases inadequate ratings provided by the credit rating agencies and different principal agency problems were addressed. I argue that international and national financial supervisors established an inadequate framework for financial regulation and supervision,...
How to Implement an Accurate and Effective Costing System in Manufacturing Organizations
Boris Popesko
European Financial and Accounting Journal 2009, 4(4):35-49 | DOI: 10.18267/j.efaj.77
The objective of the article is to define rules for establishing a high quality costing system to measure the costs of products, customers, and other cost objects in a manufacturing enterprise. The pros and cons of all existing costing methods are discussed in the article, as are the methods themselves. Furthermore, their allocation principles are investigated, along with the nature of costs and the behavior of cost elements in major enterprises. One expectation is that different principles of cost allocation will have to be applied to different types of costs, based on their relation to the output of a company's processes. Initially, several analyses...
International and European in the Accounting System of Romania
Anca Gabriela Turtureanu, Cornelia Elena Tureac
European Financial and Accounting Journal 2009, 4(4):50-65 | DOI: 10.18267/j.efaj.78
In order to join the European Union, Romania, as well as the other member countries, must accomplish certain criteria, among which we can mention the adopting of the acquis communautaire. Thus, two Guidelines can be considered the basis of the acquis communautaire for the field of the accounting of the corporations: The Fourth Guideline of the Counsel (78/660/EEC) concerning the yearly accounts of the business corporations and the Seventh Guideline of the Counsel (83/349/EEC) concerning the consolidated accounts of the business corporations. Since these two guidelines does not cover the banking industry and the insurance industry, there were adopted...
Theory and Practice of Business Process Management
David Tuček
European Financial and Accounting Journal 2009, 4(4):66-83 | DOI: 10.18267/j.efaj.79
Traditional model of management is based on hierarchical decomposition of organizational structure. Company is divided on workroom, union, partitions and every formation of his has independent agenda and his responsibility. However the formations often have tendency create about themselves barrier, especially communications and informatics barrier. Compared to that, process management is relatively new view of organization that moves activities of many companies. Process organization tries organizing and managing the work like comprehensive complex, which is of further distributed on individual sub-processes, which are logically linked. It is known;...