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Volume 2
Issue 2
Online publication date 2010-07-16
Title Financial segment reporting in the function of building a motivation and rewarding system
Author Ljubica Gajic, Ivana Medved
Abstract This paper describes important regulation issues that concern microfinance. It starts by considering literature on how and why to regulate and supervise microfinance. Considering the specific case of microfinance in Albania, it analyzes the context of this industry and some particular issues that might influence its growth. Related regulation in Albania seems to be not activity–oriented since a real definition of microfinance is lacking in the Albanian law. Therefore, Albanian microfinance sector needs, first of all, a microcredit and microfinance definition to implement the right development policies and avoid confusion and license misuse. Moreover, the regulatory framework seems to be too restrictive for institutions supposed to be engaged in microfinance example high capital requirement and provisioning. Possible interventions can be in lowering minimum capital requirements for NBFIs to improve entrance, simplifying procedures, documentation and harmonization of the taxation treatment of institutions to enhance development, encourage access and avoid market distortions. There is the need to implement regulation considering microfinance as an activity, and develop a regulatory framework to induce commercial banks integrate downward into the microfinance market and help informal start-ups institutions develop and get formalized.
Citation
References
Gajić, Lj., 2005. “Funkcije izveštavanja o ostvarenjima dobitnih centara,” [The Functions of Reporting on Realizing Profit Centers] , in The Annals of the Faculty of Economics Subotica, Serbia, No.14, pp.193-200

Gajić, Lj., 2007. “Upravljačko računovodstvo,” [Management Accounting], University of Novi Sad, Faculty of Economics Subotica, Republic of Serbia

Gajić, Lj., Medved, I., 2009. “Functions and Importance of Segment Reporting in an Agricultural Company,” 4th International Congress “Aspects and Vision of Applied Economics and Informatics,” Book of Proceedings, Faculty of Agricultural Economics and Rural Development, University of Debrecen, Debrecen, Hungary, pp.623-28  

Horngren, C., Harrison, J., 2008. “Financial and Managerial Accounting,” first edition, Pearson Prentice Hall, Upper Sadle River, New Jersey, USA

International Accounting Standard Board, www.iasb.org

Malinić, D., 1999. “Divizionalno računovodstvo - Računovodstveno izveštavanje po profitnim i investicionim centrima,” [Divisional Accounting - Accounting Reporting by Profit and Investment Centers], University of Belgrade, Faculty of Economics Belgrade, Republic of Serbia

Stevanović, N., Malinić, D., Milićević V., 2009. “Upravljačko računovodstvo,” [Management Accounting], University of Belgrade, Faculty of Economics Belgrade, Republic of Serbia

Keywords Organization, segment, cost accounting, information, motivation, rewards.
DOI http://dx.doi.org/10.15208/beh.2010.18
Pages 67-74
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