Information is a very important factor in various fields of activity of the contemporary people. In any economic activities as well as in the activities of the economic entity the information is used for decision-making. The information may be economic, legal, scientific and otherwise, but in order to manage economic processes the most important is economic information. The greatest part of this information is provided by accounting both financial and management. In every company as in a separate accounting unit, a (...) lot of economic transactions and events occur over the year, constantly recording the movement of money, the amount of revenue and costs. Periodically, in the activities of enterprises, institutions or organizations it is necessary to summarise all the available economic information and calculate performance results, to show the remains of assets, equity and liabilities. Financial statements of the company in the market economy conditions is the main source of information about the assets, liabilities, capital, profits and cash flows. Accumulated and grouped financial information of companies, institutions, or organizations in the form of financial statements periodically, but not less often than at the end of the financial year, is is presented to all users who are interested in it, since the annual financial accounts must be provided by all companies, enterprises or organisations with legal status. Many Lithuanian authors, dealing with financial statements, note that the current forms used for financial statements do not provide sufficient information to meet the users‘ needs in constant competitive conditions and, therefore, there are a lot of discussions how these statements could be improved. When analysing financial accountability, problematic aspects of assessment of financial statements elements are faced. Both Lithuanian and foreign authors pay little attention to the assessment analysis of financial statement elements, because for businesses both in Lithuania and abroad it is rather complicated to assess properly the elements of the financial statements by assessment methods available in the literature in such a way that they would reflect the state of the company truly and correctly. This time, however, the figures in the financial statements is one of the most important sources of information for economic state assessment of companies, enterprises or organisations and for business management solutions. Accounting professionals and other users, when analysing the financial statements, may form opinions and draw conclusions about the profitability of the core business of the analysed entity, the ability to cover its short-term and long-term liabilities, as well as about long-term and short-term assets, product manufacturing and sales situation and changes during the reporting period, and relying on these data decide on the reliability of the company, development and investment opportunities. (shrink)
Arendarcikas, Birute Since the Second Vatican Council and the historic embrace of Paul VI and the Patriarch of Constantinople Athenagoras I in January 1964, the pope and the hierarchs of the Roman Catholic and Eastern Orthodox Churches have, after centuries of mutual separation, embraced each other once again as sister churches. On many occasions the pope and the hierarchs of the respective churches have drawn attention to the loving veneration of, and special devotion to, Mary, the Mother of God, which (...) both churches hold in common and which unite them as sister churches. In his apostolic exhortation Marialis Cultus on devotion to the Blessed Virgin Mary, Paul VI affirms that 'in venerating with particular love the glorious Theotokos and in acclaiming her as the "Hope of Christians", Catholics unite themselves with their brethren of the Orthodox Churches, in which devotion to the Blessed Virgin finds its expression in a beautiful lyricism and in solid doctrine'. Similarly, in a shared homily with Pope John Paul II, delivered during Vespers in the Basilica of St Mary Major in Rome on 5 December 1987, Ecumenical Patriarch of Constantinople Dimitrios I said: Of all the entire Christian world our two sister Churches have maintained throughout the centuries unextinguished the flame of devotion to the most venerated person of the all holy Mother of God, dedicating to her the finest and most inspired artistic works of song, architecture and painting, turning to her sweetest figure the hearts' desires and the hopes of the devout people of every epoch. (shrink)
This article critiques Australia's official discourse of multiculturalism, with its rhetoric of ‘celebrating cultural diversity’ and tolerance, by looking at the way in which this discourse suppresses the ambivalent positioning of ‘Asians’ in Australian social space. The discourse of multiculturalism and the official, economically motivated desire for Australia to become ‘part of Asia’ has resulted in a relatively positive valuation of ‘Asia’ and ‘Asians’, an inversion from the racist exclusionism of the past. Against the self-congratulatory stance of this discourse, this (...) article signals the operation of ambivalence at two levels: at the structural level, insofar as it points to the inherent contradictions in the idea of the ‘multicultural nation’ and its fantasy of a harmonious ‘unity-in-diversity’, and at the subjective level, in the sense that the ethos of multiculturalism doesn't erase the ambivalent relations of acceptance/rejection between majority and minority subjects. Several instances of such ambivalence pertaining to the positioning and representation of the ‘Asian’ woman are given. (shrink)
Financial statements are the main source of information showing the performance of an enterprise and its financial state. They are need for business management, analysis, internal and external audit, owners and state, investors, society. The set of financial statements is prepared by summarizing the company's financial year data. To prepare accountability, data is pre-accumulated and grouped in accounting records, synthetic and analytical accounting registers according to general principles: continuity, periodicity, permanence, prudence, monetary measure, accumulation, neutrality, relevance of content, importance of (...) information. These accounting principles are followed in the EU countries. According to A. Ivanauskienė, an annual stocktaking must be carried out before the annual financial statements are drawn up [3]. Accounting policy part includes accounting principles and a brief description of accounting methods and rules that are used by the entity in accounting and financial reporting. [2]. Accounting policies are general accounting principles, accounting methods, and rules intended for accounting management, formation and submission of financial accountability" - the definition is provided by A. Ivanauskienė [3]. For more information on accounting policies is written 6 BAS - the explanatory note of the accounting policy part should state that 'financial statements are prepared in accordance with business accounting standards. Other legal acts that have been used for accounting management and financial reporting purposes [1] are also included. At the end of the company's financial year, we have to prepare not only financial statements, but also to analyze it properly. Because only by submitting an annual analysis of financial statements we will be able to evaluate the company's performance and position. We will be able to determine whether the company's performance is profitable, whether by putting together and discussing all the reports, there is a risk for the company's future plans. Problem and Relevance - it is very important that the financial accountability reports would be prepared correctly and would perform their intended purpose. Accurate accumulation and systematization of accounting information allows to account correctly assets, capital, income and expenses. Otherwise, false information will result in distorted analysis results and its users will make wrong decisions. The aim of the work is to analyze the content of financial statements, principles of formation and use of data. Research object - financial accountability. Research objectives: 1. To analyze the essence and importance of financial accountability, to provide a systematic description of financial accountability. 2. To provide a procedure for regulating accountability and how to allocate it. 3. To set requirements for financial reporting. 4. To prove the importance of financial reporting with respect to companies. Research methods - analysis of scientific literature, including the comparison of theoretical statements, methods of generalization, logical and graphical representation. Conclusions: Financial statements should reflect fair information about the financial position and performance of the entity, as well as provide necessary information to internal and external users and disclose relevant information about significant events occurring during the reporting period. Preparation of financial statements is regulated by: Law on Accounting of the Republic of Lithuania, Law on Financial Accountability of the Republic of Lithuania, Consolidated Financial Accountability Compilation of the Republic of Lithuania, International Business Accounting Standards, National Business Accounting Standards, Accounting Policies shaped in the company. The data presented in the annual financial statements shall be prepared in accordance with the general accounting principles. The information received in the reports must be compared to the previous reporting periods and to the performance of other companies. The data obtained are needed for economic analysis, audit, planning of the company performance and forecasting. (shrink)
Traditionally, assessment for university students in the humanities has been in an essay format, but this has changed extensively in the last decade. Assessments now may entail auditory and visual presentations, films, mind-maps, and other modes of communication. These formats are outside the established conventions of humanities and may be considered as creative works. Exploring definitions and research in the field of assessment of creativity, highlighting ways to explicitly assess the creative aspects of student work. An obligatory first year common (...) unit titled “Cultural intelligence and capability” is examined as a model of how creative assessment can be used to extend engagement with subject material. Implications of considering creative aspects, in an explicit way, are reviewed. The underpinning argument is that in the current learning settings, creativity should be seen as an intrinsic part of appraisal criteria in the humanities as much as in the arts. (shrink)
The article discusses the issue of realisation of the principles of legitimate expectations, legal certainty and legal security in the specific area of administrative activity – detailed territorial planning process. During this long and complex process, it is very important to ensure the protection of personal constitutional rights and guarantee the security of legitimate expectations, legal certainty and other essential principles. The article analyses the circumstances conditioning violation of the principles of legitimate expectations, legal security and legal certainty and provides (...) suggestions on the improvement of legal framework in order to avoid these violations. (shrink)
The article analyzes the system of legal regulation of the higher education in Lithuania with the purpose to determine the boundaries of exercising the discretionary powers of the executive institutions in the field of higher education. The article is made of two parts. Discretionary powers of the executive institutions in legislative field are discussed in the first part. The power of legislative discretion is described as a right to set the legal regulation by way of a subject who is granted (...) such discretionary power. Problems may arise in cases when the law granting such discretionary powers is too abstract or declarative. The main criteria in determining the boundaries of exercise of discretionary powers are the provisions of Constitution and laws, and constitutional law principles. The system of delegation of legislative powers in the field of regulation of the higher education in Lithuania is analyzed in the second part of the article. The permanent changes in administrative legal regulation of higher education and studies determined by a vast amount of subjects issuing post-legislative legal acts in this field, as well as rather tedious legal regulation which, in turn, calls for frequent changes in legal acts, raises doubts regarding a possibility to implement main principles of the studies, such as freedom of creation and scientific research or academic freedom and autonomy. (shrink)
For the last several decades, ensuring human rights and national security have remained an important goal and a condition for existence of every state. The interests of national security often presuppose the need to narrow some natural rights, such as, for example, the right to privacy, the right to secrecy of communication, etc. Traditional concept of security is related to ensuring national security. According to the traditional concept of security, the state is considered the main object of security; therefore, the (...) states mainly focus on external threats. It is stated that the most important thing is to protect the state from external aggression, ensure protection of state borders and institutions. Protection of human rights is ensured simultaneously. It is, however, observed that a secure state does not necessarily mean that the citizens of the state are secure. Security of a person is under threat due to limitations imposed on human rights while seeking to ensure national security. (shrink)
The process of territorial planning is complicated, because there are different and even opposite interest of persons related with particular territory. Administrative legal regulation of territorial planning in Lithuania underlies emergence of a legal conflict, namely the administrative litigation. Investigation of the administrative dispute applying the pre-litigation procedure allows the parties thereof to save both money and time. This article presents the problematic aspects of the pre-trial investigation of the administrative disputes arising in the area of territorial planning. The article (...) is composed of an introduction, three parts and conclusions. In the first part the characteristics of the disputes arising in the area of territorial planning, the preconditions of origin, and the demand for the pre-trial investigation thereof are analyzed. Legal regulation of pre-trial investigation out-of-court of the disputes arising in the area of territorial planning is revealed in the second part. In the third part key provisions of the reform of the pre-trial investigation out-of-court of the disputes arising in the area of territorial planning are discussed. (shrink)
The importance of the right to education reaches far beyond education itself. The right to education is recognized, promoted and protected at all levels— from local to global. The concept of each human right constitutes a dual perception—human rights are personified and there are particular duty-bearers, most often the states, which have certain obligations to preserve and protect those rights. This article summarizes governmental obligations, foreseen in international and regional legal human rights’ instruments, corresponding to the right to education in (...) its entirety. The conceptual framework for the content and scope of the right to education is established by different human rights institutions and judicial bodies and implicates the concept of quantitative and qualitative measures, expressed by four guidelines—availability, accessibility, acceptability, adaptability. (shrink)
The need to examine the efficiency of state financing of universities is becoming more important for a number of reasons. The growth in the social demand for higher education, the globalization and internationalization of the higher education system, the recognition of the need to improve the quality of studies coincide with the financing aspects of activities of higher education institutions. The object of the research is to analyze the financing models and state funding methods of the higher education system and (...) to disclose the advantages as well as dysfunctions of each conception. This paper examines the mechanisms through which governments allocate resources to higher education in order to establish effective means to transfer these subsidies to institutions. (shrink)
The article analyzes preconditions of realization of the right to religious education in Lithuania during the period of compulsory education. The article consists of two parts. The essence of the freedom of thought, religion and conscience and their relation to religious education is discussed in the first part. The second part of the article analyses national legal framework related to compulsory education in the light of freedom of thought, religion and conscience. The states are required to ensure education of children (...) according to religious convictions of their parents and needs of the children themselves. The Lithuanian legal regulation, however, allows certain ambiguities as to how effectively may the right to religious education be realised. (shrink)
National research policies are today driven by the concept of the ‘knowledge society’, in which development is deemed to follow the application of new ideas. Australia, like other countries, has encouraged partnerships between the universities and industry. This essay examines how Australian scholars in the humanities have responded to the Australian Research Council’s Linkage Projects. Their experience underlines the importance of viewing collaboration as social practice, and the need to find a satisfactory synthesis between academic and industry perspectives.
The greater interconnectivity and interdependence unleashed by globalization are not creating a more harmonious, cosmopolitan humanity. On the contrary, the more global the world becomes, the more insistent particular differences, especially of the nationalist kind, are being articulated around the world, often leading to tension and conflict. This seeming paradox cannot be reconciled through simple mantras of ‘unity in diversity’. Rhetorical references to ‘a single humanity’ to overcome structurally entrenched divisions (as institutionalized in the world system of nation-states) are not (...) sufficient for the attainment of greater pan-human solidarity. In response to this predicament this paper argues for a cosmopolitan perspective, in which a humanistic universalism should not be seen as a static moral ideal, but as a social and political horizon that must be worked towards, but probably never achieved, through a painstaking and continuing process of cosmopolitanization against the grain of powerful modes of particularist closure. (shrink)
Entities pursuing their objectives focus on the smooth and efficient operations and processes, and optimum use of funds. For this purpose, an internal control system is being implemented in enterprises and organizations, one of the components among these systems is internal audit. The main objective of the internal auditor is to provide an independent and impartial assessment of the entity's performance and provide insights on how to improve its operations. Although internal audit is only part of the internal control system (...) of the entity, it has to assess the proper functioning of the system itself, propose measures to make internal control more efficient. The state of internal control largely depends on the work of the internal auditor. Scientific problem. The scientific literature emphasizes the need to create an appropriate system of internal control of the entity, but for many supervisors and internal auditors internal audit and internal control still associate with the role of the inspector. A well-functioning internal control system reduces the work involved in the audit and risks that allow the internal auditor to devote more time to developing the entity's development prospects. Particular attention in the process of operational efficiency must be given to employees performing the functions entrusted to them, including them in the process of internal control improvement. Not only managers but also all employees need to deepen knowledge of the importance of internal audit and the necessity of reaching the goals set by the entity, not only managers but also all employees. The aim of the article: to analyze peculiarities of theoretical internal audit and control. In order to achieve the tasks: to analyze the concept of internal audit and control, and its variation; to research internal audit objectives. The object of the research: internal audit and control in a company. The methodology of the research: the systemic analysis of scientific literature and legislation. (shrink)
Along with the Strait of Malacca and the Singapore Straits, the Strait of Hormuz is arguably the most important bottleneck in international navigation because a large part of the global oil production needs to be shipped through this passage, which is only a few kilometers wide. In the context of the dispute about Iran’s nuclear program and new sanctions, Iran has threatened to close the Strait of Hormuz for international shipping, effectively cutting off many Western countries from important oil imports. (...) In this article, the legality of such action as well as the legality of the mere threat to close the Strait of Hormuz are investigated. In addition to the International Law of the Sea, general rules of international law and the international law of armed conflict are taken into consideration. Particular emphasis is put on the sovereignty of other states, which is infringed upon by such threats on the part of the Iranian leadership. First, the question has to be answered whether a passage through these waters would be transit passage through a Strait or normal passage through the coastal state’s territorial sea. The authors of the article conclude that the regime of transit passage applies qua lex specialis, as far as the part of the Strait of Hormuz, which is included in Iran’s territorial waters, is concerned. The next step is to ask the question whether preventing such a passage as well as threatening to prevent such a passage are permissible for Iran. In this context, the potential abuse of otherwise permitted traffic separation schemes is highlighted. Traffic separation schemes are of particular importance in narrow but highly frequented bodies of water, such as the Strait of Hormuz. In addition, the contemporary Iranian state practice has received some attention. One issue to be considered in more detail is the requirement that foreign warships receive authorization from the coastal state prior to entry into the territorial sea. This approach might be incompatible with the right to innocent passage under both the Law of the Sea Convention and customary international law, as there is no clear legal source, which provides for this requirement. Finally, the authors look at the question of the legality of the mere threat to close the Strait of Hormuz as opposed to actually closing the Strait. The sovereignty of other states may be affected to such an extent that such threats already amount to a violation of international law. In light of the historic precedents during the Iran-Iraq War, these threats should not be dismissed lightly. Iran would be well advised to refrain from such rhetoric. (shrink)
Succession of states regains its importance in current geopolitical situation as now we are witnessing a possible new wave of state succession: South Sudan has been accepted to the United Nations, Kosovo’s independence has been recognized by many countries, Palestine has gained new status in the United Nations, etc. This would lead to the necessity to resolve questions related to succession of states, which might, among other subjects, include issues of diplomatic protection which was subject to international legislation – International (...) Law Commission has prepared the Draft Articles on Diplomatic Protection. However, General Assembly is still not ready to adopt this document as a convention, therefore the term to consider possible ways of handling the issues on diplomatic protection within the UN was extended till 2013. Draft articles give the definition of diplomatic protection, indicating the main features of this institute. However, sometimes the difference among the institutes being called the same name with diplomatic protection might cause misunderstandings when analyzing the issue both in general and in the context of succession of states. One of the main prerequisites for diplomatic protection recognized in the jurisprudence of International Court of Justice is the Mavrommatis rule, which indicates that when protecting the citizen’s rights, state in reality is asserting its own right. This rule has been cited in other cases, however, especially now, when individuals already have quite a number of measures to protect their individual rights independently from the actions of state, it has been acknowledged that the rule is fictitious. This recognition, reflected in the Draft Articles and indicated in the commentary of it, is most welcomed as it helps to resolve questions related to the succession of states. There is a need to understand that there is a difference between international obligations under which state is entitled to diplomatic protection and those under which it really asserts its own rights, despite the fact that the latter might also be related to the rights of individuals. This difference is also important in the context of the succession of states, as the consequences arising out of the breach of these obligations in the context of state succession might differ. The last but not least issue addressed in the article is the question of the succession to treaties, which indicate individual rights, but does not form a customary international law. The question is whether the successor state is entitled to diplomatic protection on behalf of its succeeded citizen in a case of a breach of international treaty which was not subject to succession by the successor state. Taking everything into account, there are issues which are not addressed in the Draft Articles on Diplomatic Protection. Herewith there are issues of diplomatic protection which should be addressed in a case of state succession. Nonetheless, it should be reminded that diplomatic protection is always subject to the decision of the state itself, it is just important that newly created states understand and know the possibility to invoke international responsibility of the third state using the means of diplomatic protection, even if the injury was made to its national before the moment of state succession. (shrink)
