Vol. 5 No. 2 (143) (2014)

View Vol. 5 No. 2 (143) (2014)
Published: 2021-07-28

Articles

  • Articles

    Audit as a Necessary Factor of Managing Banking Risks and Improving Creditworthiness of SMEs in RA

    Tigran Avetisyan
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    Abstract

    The analysis of financial statements, including analysis of ratios, is one the most important tools in managing banking risks and assessing creditworthiness. In Armenian banks shifting from collateral-based lending decisions to lending decisions based on analysis of the financial performance of the prospective borrower by using the audit reports provided based on International Standards on Auditing, banks will have the opportunity to significantly reduce the consumed resources for the collection of necessary information for lending decisions. On the other hand, the credit availability of SMEs will increase, as they will have the opportunity to receive loans without providing a collateral. In turn, through the audit reports banks must have assurance on the reliability of the presented financial statements. Meanwhile, the development of audit, the reliability of the audit companies and the improved quality of audit services is a multilateral process, which should be provided by audit companies, supervising bodies and audit clients.

    References
  • Articles

    The Problems of Medical Tourism Development in Armenia

    Satenik Sargsyan
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    Abstract

    The paper analyzes the current state of factors, which determine the medical tourism development in Armenia. Particularly the level of medical and transportation costs, as well as issues of medical and tourism infrastructure development are considered. It is argued that further growth of the medical tourism sector hinges on international accreditation of local health care organizations, implementation of the open skies policy, efficient promotion of the country in global medical tourism market.

    References
  • Articles

    Introduction to the Theory of Transitional Economy

    Gagik Galstyan
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    Abstract

    The present article is an attempt to present the methodological principles of the investigation of transitional societies and their economic systems and it aims to reveal and define the general regularities of economic transformation.

    References
  • Articles

    On the Problem of Employment in tne Rural Areas of RA

    Vardush Gyozalyan
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    Abstract

    In the Economy of RA, the problem of employment, especially in the rural areas, in the context of overcoming the poverty and the increasing migration, takes on special significance. The main problems and features, related to the employment in the rural areas of RA, are considered in the article. The author observes, that by the reason of low productivity in the field of agriculture, in the villages of Armenia under the condition of high employment level, the level of income is very low, and in its turn it becomes the reason of high rural poverty level. Within the scope of this article the author suggests definite ways for solving the problem.

    References
  • Articles

    Managerial Accounting Systemization Issues

    Julietta Gevorgyan
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    Abstract

    The article discusses the opportunities of organizing systematized managerial accounting, according to the financial accounting put into practice at present. Implementation of double entry principle in managerial accounting will maintain the systematization of information in decision making and find out cause-effect correlations between business activity and financial status of companies. In this connection, a model of balanced indices information model within managerial accounting system is suggested.

    References
  • Articles

    The Women and Entrepreneurship in Armenia

    Tamara Hovhannisyan
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    Abstract

    Entrepreneurs are creators of wealth, new jobs, new products and services. These Schumpeterian entrepreneurs destroy the existing market equilibrium with their innovations and create a new one. Despite these facts, the Armenian scientific community knows very little about their motivations, their unique talents and psychological characteristics, human capital and family background. In 2013-2014 the author with closed, fixed-response interview examined 153 Armenian founders of commercial organizations. She studied gender differences in age, marital status, formal education, work experience, family background, motives, self-assessment of leadership skills and risk-taking behavior.

    References
  • Articles

    Promoting Competition in Public Procurement System

    Aram Simonyan
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    Abstract

    The competition is the driver of the market economy hence the obstacles such as corruption and its manifestations that detiorate fair competition need to be eliminated. In case of lack of real competition the corruption as a cancer penetrates into the economy, completely weakens it and ruins the economy in the end. Due to the analysis, in this article we studied the main developments in the procurement system in line with the ongoing problems and possible solutions. Summarizing, we can admit that despite the huge attention to the procurement system, essential contradictions and legal loopholes as well as procedurial problems still exist that enable manipulation in the process of procurement and consequently increase corruption risks. Therefore the main precondition for success is the modernization of the whole system and the promotion of genuine competition by applying systematic approach in order to avoid the vicious circle.

    References