Naslov
Process modelling in financial reporting for corporate governance

Autori
Cingula, Marijan ; Klačmer, Marina

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, sažetak, znanstveni

Izvornik
3rd International Conference An Enterprise Odyssey : Integration or Disintegration : proceedings / Galetić, Lovorka - Zagreb : Faculty of Economics and Business ; Mikrorad, 2006, 88-89

ISBN
953-6025-18-3

Skup
International Conference An Enterprise Odyssey : Integration and Disintegration (3 ; 2006)

Mjesto i datum
Zagreb, Hrvatska, 15.06.2006. - 17.06.2006

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
financial reporting; corporate governance; process modelling; decision making

Sažetak
Process modeling is usually associated with the dynamic behavior of business organizations. Generally, models constructed from different viewpoints can help in deeper understanding of organizations’ behavior. This paper shows how descriptive modeling of financial reporting can improve the corporate governance in terms of processes. Corporate governance itself is a legal framework for decision making, or the set of financial regulations in modern organizations. Thus, the model of financial reporting is vital for better understanding processes that influence decision makers in business organizations. According to the stakeholders’ expectations, the concept of corporate governance, when being implemented, should facilitate the integration of strategic management and operating core of the organization structure, including its tehnostructure and supporting modules. Consequently, the proper definition of the dominant processes, building the corporate governance model in any organization, can significantly influence the organization’ s effectiveness. It is important to recognize at least two levels of the corporate governance influence: corporate level and board level. On the corporate level, the dominant processes are strategic planning, financial reporting, controlling and public relations ; while on the board level the most dominant are communicational aspects of enterprise functionality, such as board members interaction and relationship between board of directors and managing board. Collective dynamics in decision making and cooperation (i.e. how separate entities in an enterprise function, both as teams and in interaction among each other) can also contribute to the proper definition of processes in corporate governance. The existence of two boards within a joint-stock company, representing owners and hired managers, opens many questions for monitoring diverse processes in corporate governance, and for development and use of the appropriate codes of behaviour.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA