Dejan Jovanović

U posljednje dvije decenije ambijent u kome upravljačko računovodstvo ostvaruje svoju ulogu počinje da se ubrzano mijenja. Sukladno promjenama koje su se odigrale u okruženju, poduzećima i menadžmentu, računovođe su morale redizajnirati postojeći računovodstveni informacijski sustav. S obzirom na to da upravljačko računovodstvo predstavlja najdinamičniji dio tog sustava, sukladno očekivanjima ono je pretrpjelo najveći dio promjena. Upravo cilj istraživanja u ovom radu je da ukaže na evolutivni put upravljačkog računovodstva, njegovu trenutnu poziciju i buduće pravce razvoja. Polazeći od navedenog u radu će biti primijenjeni metodološki postupci i tehnike svojstvene društvenim znanostima, tj. kvalitativna metodologija bazirana na proučavanju i deskriptivnoj analizi definiranog cilja istraživanja. Najvažniji zaključak je da upravljačko računovodstvo svoj fokus sve više pomjera prema strategijskoj dimenziji poslovanja i konceptu održivog razvoja, kao i da postoji neravnoteža između teo...

In the context of the globalization of business operations and the increasing use of information technologies, complexity of business transactions, and business risk, the role of internal audit is becoming increasingly important and the range of tasks performed by internal auditors is growing. As a part of the company control system, the internal audit assesses the efficiency, effectiveness, economy, and fairness of the realization of tasks, provides consulting services to the enterprise?s management, and promotes the effectiveness of risk management with the aim of creating added value and enhancing business activities. It is the aim of this work, through empirical research conducted in large and medium-sized Serbian companies, to show the degree of development of the internal audit, the perception of accountants in respect to the tasks and responsibilities of internal audit, and whether there is a connection between the enterprise size and legal form on the one hand, and the organ...

We aim to identify and analyse the key success factors of sustainable lean implementation and investigate the changes in management accounting and performance measurement systems after lean implementation. We analyse four large, publicly traded Serbian companies that have implemented lean. To introduce diversity into our sample we choose companies from different industries and with different competitive and organizational characteristics. We use a multiple case study method to analyse the motives behind, barriers to, and implications of lean implementation and to examine the management accounting and performance measurement systems of companies implementing lean. Our results suggest that the key factors of sustainable lean implementation are continuous communication of the objectives and importance of the lean project, continuous improvement of soft skills, development of teamwork and employee motivation, dedicated management, a supportive work environment, and continuous monitoring...

Transition to online teaching is the best approach to coping and overcoming the difficult situation that universities all over the world are facing due to the COVID-19 pandemic, as it will have the least possible negative effects on students' education and the development of professional skills. Based on the above, the primary objective of the paper is to identify the factors that influence the effectiveness of acquiring professional skills in accounting subjects in online classes during the COVID-19 pandemic as well as factors that determine the success of online teaching based on students' views. The research was conducted on a sample of 373 students from universities in Kragujevac, Belgrade, Novi Sad and Niš. Students who attended online classes in at least one accounting subject were surveyed. In the methodological sense, the analysis of the collected data was based on the application of descriptive statistics, factor analysis, and multiple regression. The research resul...

APSTRAKT: Uticaji preduzeca na životnu sredinu doveli su do poostravanja ekoloskih zahteva od strane drustva i implementiranja ekoloskih strategija u proces upravljanja. Rana integracija životne sredine u preduzece, odnosno proaktivni ekoloski menadžment, omogucava preduzecu bolji pristup resursima i mogucnostima u odnosu na njegove konkurente. Dakle, stvaranje imidža drustveno odgovorne kompanije putem sprecavanja i smanjivanja zagađenja životne sredine doprinosi povecanju konkurentske prednosti, snižavanju ekoloskih troskova i ispunjavanju sve vecih ocekivanja javnosti od preduzeca. Da bi preduzece moglo da ostvari navedeno neophodno je da pravovremeno sagleda uticaje preduzeca na životnu sredinu, kao i životne sredine na preduzece, tj. potrebno je da ima razvijeno upravljacko racunovodstvo koje ce se baviti pitanjima zastite životne sredine. Polazeci od navedenog osnovni cilj istraživanja u doktorskoj disertaciji je da se teorijsko-metodoloski i empirijski sagleda veza između upr...

The research aims to consider the nature of the influence of capital structure on the value of the corporations from the agro-food sector in Serbia. A panel regression analysis was used to test the hypotheses. The research covered the period from 2011 to 2018, and the sample consisted of 14 agro-food corporations whose shares are on the regulated market of the Belgrade Stock Exchange. The obtained results indicate that the capital structure has a statistically significant impact on the value of agro-food corporations and that the profitability of investment projects determines the nature of that impact. Consequently, the financial managers of agro-food corporations must consider the decision on the choice of capital structure as one of the key issues in the process of generating and increasing the corporation value.

The aim of the paper "ERP and Management Accounting Changes of Industrial Enterprises in Serbia" was to investigate one specific aspect of management accounting, precisely the changes of management accounting under the influence of modern information technologies. Therefore, our aim was neither to criticize nor to promote SAP (or some other ERP software). SAP is one of the best, most popular and most widely accepted ERP software in Serbia. That was the main reason for choosing SAP for our research. The main objective of this Comment is an attempt to point out the differences in expressed opinions, which are mainly the result of different ideas and aspects of the analysis and points of view of our paper. We consider the mentioned critique to be well-intentioned and useful, primarily for the authors of the paper, but also for the users of the results of our paper, as well as the reputation of the journal INDUSTRIJA. Rezime: Cilj rada "ERP i promene upravljačkog računovo...

In new, contemporary, economic conditions with defined and dynamic changes in the business environment, contemporary corporate companies and management experience constant changes. As a response to new challenges of constant changes, countries with developed accounting tradition place great emphasis on the need to improve the accounting systems and the development of contemporary concepts, cost accounting systems, and cost management techniques. This paper aims to show, through empirical research conducted in Serbian companies, the stage of development of cost accounting, whether companies in Serbia are familiar with the characteristics of cost accounting, and whether they implement contemporary cost accounting systems. By means of non-parametiic techniques - Kruskal-Wallis H and Mann-Whitney U test - the paper also attempts to suggest a possible correlation between the company size and the knowledge of basic characteristics and implementation of contemporary cost accounting systems...

The application of ERP (Enterprise Resource Planning Systems) as the dominant global trend in the modern era of networked computing, in recent years makes its way to becoming more accepted in industrial enterprises in Serbia. Extremely powerful and radical shift in business from the implementation and application of ERP touches all aspects of business. However, the focus of this study is to assess the influence of SAP as ERP software in management accounting system of industrial enterprises. Hence, the objectives are the identification, evaluation and analysis of the impact of SAP on a management accounting system and management accountants of industrial enterprises in Serbia. In order to realize these goals in addition to considering the conceptual basis of ERP systems and review of previous research in this field, to identify and analyze the effect of SAP on the management accounting system and management accountants, ten enterprises of different industrial sectors of Serbia, that...

In the conditions of company operation globalization, the increasing use of information technology, increasing complexity of business transactions, and increasing business risk, the role of competitive management accounting is becoming increasingly important, especially in making strategic business decisions. As a part of strategic management accounting, competitive management accounting positions the company to a place which has the best view of the existing and potential competitor activity, by creating a strong information base on competition, all with the aim of creating added value and improving the company operations. This paper aims to highlight the importance of competitive management accounting in strategic decision making, and on the basis of case studies in the world and empirical research conducted in Serbia, to highlight the importance of competitive management accounting in the world and to answer the question of whether the companies in Serbia use the information from...

The main objective of this study is the development of the model for predicting illiquidity, i.e. identification of financial indicators on the basis of which one can predict illiquidity. The research focus is on large companies in the Republic of Serbia. Bearing in mind the results of previous research and the assumptions underlying the logistic regression, the paper relied on logistic regression for drawing conclusions. For each of the 426 companies included in the sample, based on data from financial statements, financial ratios were calculated in respect of: liquidity, activity, solvency, profitability, and effectiveness, which were used as independent variables in the study. The research results show that in the prediction of illiquidity of large companies in Serbia, from a total of 23 financial indicators included in the model, the following distinguish themselves as significant - capital turnover ratio, inventory turnover ratio, fixed-asset turnover ratio, real asset coverage ratio, net profit ratio, return on total assets, return on equity, and effectiveness of main business activity.

Modern business conditions have led to the development of a large number of different models for strategic performance management, which view performance measurement through the prism of financial and non-financial indicators, from multiple perspectives. Strategic performance management models should enable efficient and effective management, i.e. an adequate response to continuous changes in the business environment. Theory and practice in this area suggest the development and implementation of various integrated frameworks (models) for performance management of companies, in order to achieve business excellence. In addition to the well-known integrated models, such as the Balanced Scorecard (BSC), Performance Pyramid, SAILS model (Strategy Aligned Integrated Linked Scoring System), GRASP model (Goals-Resources-Actions-Structure-People), and others, Kanji’s Business Excellence Model (KBEM) and Kanji Business Scorecard (KBS) have been developed as well. Kanji’s model was created wit...

The main purpose of this paper is to explain the ways in which environmental audit contributes to improving and preserving environmental protection, respecting the concept of sustainable development. The paper uses methods of analysis, synthesis, analogy, and continuity. Specifically, to draw conclusion about the impact of environmental audit on environmental improvement and protection, first of all, relevant and available foreign literature and practice are consulted. Research results show direct link between environmental audit requirements and protection and improvement of polluting enterprises’ environment. Practical applicability of research results consists in giving specific proposals to reduce pollution and improve environmental protection. Furthermore, the most appropriate form of environmental audit report is proposed. Originality and importance of research conducted in this study consist of proposals for introduction, implementation, control, and continuous improvement of...

With an increase in the number of the companies that have adopted the ISO 14001 standard, the interest demonstrated in research studies regarding the assessment of the motives for and benefits from the ISO 14001 standard implementation has also been increasing. Nevertheless, in spite of the importance of the ISO 14001 standards, a discussion on their importance and the role of accounting in this process yet remains an open issue among researchers and practitioners. Starting from the above said, the main purpose of the research conducted in this paper is to identify the motives for and benefits from the implementation of the ISO 14001 standard and to examine the role of accounting in the implementation process. The empirical research in this paper was performed on the example of the 33 companies that have the obligation to submit their data on the sources of environmental pollution to the National Pollution Register. The data were collected through a poll of the management of the companies via a questionnaire, whereas the data analysis was performed by using various quantitative statistical methods and techniques, and primarily through the application of descriptive statistics and non-parametric tests. The results of the research indicate that the primary motives for the introduction of the ISO 14001 standards are an environmental responsibility, creating the image of a socially responsible company and the improvement of performances, whereas the benefits can be synthesized through the improvement of environmental performances, efficiency and profitability. Also, the results of the research study indicate that the managers of the companies partly recognize the role of accounting in the implementation of the ISO 14001 standard. The main conclusion of the research is that the management of the companies partly recognize the role of accounting in the ISO 14001 standards implementation. The main conclusion of the research is that the management of the companies in Serbia understand the importance of the implementation of the ISO 14001 standards, but not to a proper extent, as well as the role of accounting in that process.

The main objective of this study is the development of the model for predicting illiquidity, i.e. identification of financial indicators on the basis of which one can predict illiquidity. The research focus is on large companies in the Republic of Serbia. Bearing in mind the results of previous research and the assumptions underlying the logistic regression, the paper relied on logistic regression for drawing conclusions. For each of the 426 companies included in the sample, based on data from financial statements, financial ratios were calculated in respect of: liquidity, activity, solvency, profitability, and effectiveness, which were used as independent variables in the study. The research results show that in the prediction of illiquidity of large companies in Serbia, from a total of 23 financial indicators included in the model, the following distinguish themselves as significant: capital turnover ratio, inventory turnover ratio, fixed-asset turnover ratio, real asset coverage ratio, net profit ratio, return on total assets, return on equity, and effectiveness of main business activity.

The aim of the paper " ERP and Management Accounting Changes of Industrial Enterprises in Serbia " was to investigate one specific aspect of management accounting, precisely the changes of management accounting under the influence of modern information technologies. Therefore, our aim was neither to criticize nor to promote SAP (or some other ERP software). SAP is one of the best, most popular and most widely accepted ERP software in Serbia. That was the main reason for choosing SAP for our research. The main objective of this Comment is an attempt to point out the differences in expressed opinions, which are mainly the result of different ideas and aspects of the analysis and points of view of our paper. We consider the mentioned critique to be well-intentioned and useful, primarily for the authors of the paper, but also for the users of the results of our paper, as well as the reputation of the journal INDUSTRIJA. Rezime: Cilj rada " ERP i promene upravljačkog računovodstva industrijskih preduzeća Srbije " je bio da istraži jedan specifičan aspekt upravljačkog računovodstva, preciznije aspekt njegovih promena pod uticajem savremenih informacionih tehnologija. Naš cilj nije bio ni kritikovanje ni promovisanje SAP-a (kao ni nekog drugog ERP softvera). SAP je jedan od najboljih, najpopularnijih i najšire prihvaćenih ERP softvera u Srbiji. To je bio i najvažniji razlog za izbor SAP-a za naše istraživanje. Osnovni cilj ovog napisa jeste pokušaj autora da svojim stavovima ukažemo na neka neslaganja i razloge istih za kritiku, a koja su uglavnom rezultat različitih ideja i aspekata razmatranja našeg rada. Upućenu kritiku smatramo dobronamernom idejom – korisnom pre svega za nas autore, ali i za korisnike rezultata našeg napisa, kao i za ugled časopisa Industrija.

The application of ERP (Enterprise Resource Planning Systems) as the dominant global trend in the modern era of networked computing, in recent years makes its way to becoming more accepted in industrial enterprises in Serbia. Extremely powerful and radical shift in business from the implementation and application of ERP touches all aspects of business. However, the focus of this study is to assess the influence of SAP as ERP software in management accounting system of industrial enterprises. Hence, the objectives are the identification, evaluation and analysis of the impact of SAP on a management accounting system and management accountants of industrial enterprises in Serbia. In order to realize these goals in addition to considering the conceptual basis of ERP systems and review of previous research in this field, to identify and analyze the effect of SAP on the management accounting system and management accountants, ten enterprises of different industrial sectors of Serbia, that use SAP, a leading business ERP software, will be observed. Rezime: ERP sistemi kao dominantna svetska tendencija u modernoj eri umreženog računarstva, poslednjih godina pronalaze put i postaju sve prihvaćeniji i u industrijskim preduzećima Srbije. Izuzetno snažan i radikalan zaokret u poslovanju po osnovu implementacije i primene ERP-a, tangira sve aspekte poslovanja. Ipak, fokus ovog rada je sagledavanje uticaja SAP-a, kao ERP softvera, na upravljačko-računovodstveni sistem industrijskih preduzeća. Otuda, postavljeni ciljevi su identifikovanje, ocena i analiza uticaja SAP-a na upravljačko-računovodstveni sistem i upravljačke računovođe industrijskih preduzeća Srbije. Kako bi se realizovali navedeni ciljevi pored razmatranja konceptualnih osnova ERP sistema i pregleda prethodnih istraživanja iz ove oblasti, za identifikovanje i analizu efekta SAP-a na upravljačko računovodstveni sistem i upravljačke računovođe biće posmatrano deset preduzeća različitih industrijskih grana Srbije. Ključne reči: RIS, ERP, upravljačko-računovodstveni sistem, upravljački računovođa.

In the conditions of company operation globalization, the increasing use of information technology, increasing complexity of business transactions, and increasing business risk the role of competitive management accounting is becoming increasingly important, especially in making strategic business decisions. As a part of strategic management accounting, competitive management accounting positions the company to a place which has the best view of the existing and potential competitor activity, by creating a strong information base on competition, all with the aim of creating added value and improving the company operations. This paper aims to highlight the importance of competitive management accounting in strategic decision making, and on the basis of case studies in the world and empirical research conducted in Serbia, to highlight the importance of competitive management accounting in the world and to answer the question of whether the companies in Serbia use the information from competitive management accounting in business decision making?

: Modern business conditions have led to the development of a large number of different models for strategic performance management, which view performance measurement through the prism of financial and non-financial indicators, from multiple perspectives. Strategic performance management models should enable efficient and effective management, i.e. an adequate response to continuous changes in the business environment. Theory and practice in this area suggest the development and implementation of various integrated frameworks (models) for performance management of companies, in order to achieve business excellence. In addition to the well-known integrated models, such as the Balanced Scorecard (BSC), Performance Pyramid, SAILS model (Strategy Aligned Integrated Linked Scoring System), GRASP model (Goals-Resources-Actions-Structure-People), and others, Kanji’s Business Excellence Model (KBEM) and Kanji Business Scorecard (KBS) have been developed as well. Kanji model was created with the objective of eliminating the weaknesses and shortcomings of previous models, particularly the Balanced Scorecard. The application of multidimensional performance measures should increase the informational power of management in making strategic business decisions. The goal set by this paper is to consider some of the basic features of modern performance measurement and management models of companies that are represented in theory and applied in practice, and, on the basis of comparative analysis, to draw conclusions about their advantages and disadvantages.