VALUE ADDED TAX AND ECONOMIC GROWTH OF NIGERIA (A CRITICAL APPRAISAL)

This research is focused on the impact of Value Added Tax on Economic Growth in Nigeria. It covers the period between 1999 and 2019. Secondary data sourced from the Central Bank of Nigeria Statistical Bulletin as well as Nigeria Bureau of Statistics were utilized. The ordinary least square estimating technique was adopted. The result revealed that Government expenditure, Investment and Value Added Tax were statistically significant to changes in Economic Growth in Nigeria. However, human capital development was not statistically significant to changes in Economic growth with in the period covered by the study. It was therefore recommended that even though Value Added Tax is marginally significant to changes in economic growth, government should not increase it to fund annual budget. Government is also advised to increase acquisition of skills of its labour force to boost human capital segment. Also government should increase capital expenditure which is the productive aspect of her annual expenditure instead of the usual lion share given to recurrent expenditure in annual budget. This is the only way economic growth can be sustainable in Nigeria

Ragi Traditional But Nutritional Especially in the Era of COVID-19

Finger millet is the name commonly used to denote the crop Eleusine coracana. It is known as Ragi in many parts of India, which is an important member of the family of cereals. In fact, it is superior to many cereals like wheat and rice in terms of its micronutrient content and bioavailability. Several indigenous processing techniques may be applied to finger millets allowing it to be processed into various value-added products, which may be better in appearance, taste, flavor and acceptability. Development of value-added products that contain Ragi as one of their major components can be beneficial for food and nutrition security of Indians. Ragi may contribute to solving the issue of micronutrient deficiency and nutrition security as it is an important source of micronutrients and can be easily incorporated in various recipes and value-added products. It can therefore be a part of various nutritional programs to enhance the nutritional density of foods.

Desempeño financiero del sector de elaboración de productos lácteos en Colombia (2014-2019) / Financial performance of the dairy production sector in Colombia (2014-2019) / Desempenho financeiro do setor de processamento de laticínios na Colômbia (2014-2019)

RESUMEN La investigación presentada en este artículo tiene como objetivo evaluar el desempeño financiero del sector elaboración de productos lácteos en Colombia en el período 2014-2019, aplicando como metodología el análisis estático y de tendencias de indicadores contables y de gestión de valor que miden su crecimiento, eficiencia, eficacia, efectividad, valor económico agregado (EVA) y valor de mercado agregado (VMA). Se encuentra que este sector crece en ventas, activos y utilidad neta; y logra rendimientos fluctuantes sobre su patrimonio, siguiendo el comportamiento de la eficacia en el control de erogaciones, aumentada por el uso de un apalancamiento financiero positivo. No obstante, este sector destruye EVA en tres años, con una pérdida residual importante en el 2015, que hace que su VMA resulte negativo. El EVA sigue la dirección del rendimiento después de impuestos del activo neto operacional, que en promedio es inferior al costo de capital. Estos hallazgos pueden complementarse con estudios semejantes para grupos homogéneos en edad, tamaño, organización jurídica y zona geográfica. CLASIFICACIÓN JEL G10, M40, L66

ABSTRACT The objective of the research presented in this article is to evaluate the financial performance of the dairy production sector in Colombia in the 2014-2019 period, applying as a methodology the static and trend analysis of accounting and value management indicators that measure its growth, efficiency, efficacy effectiveness, economic value added (EVA) and market value added (MVA). It is found that this sector grows in sales, assets and net income; and achieves fluctuating returns on its equity, following the behavior of efficiency in the control of expenditures, increased by the use of positive financial leverage. However, this sector destroys EVA in three years, with a significant residual loss in 2015, which makes its MVA negative. The EVA follows the direction of the after-tax return on operating net assets, which on average is less than the cost of capital. These findings can be complemented with similar studies for homogeneous groups in age, size, legal organization and geographical area. JEL CLASSIFICATION GI0, M40, L66

RESUMO A pesquisa apresentada neste artigo visa avaliar o desempenho financeiro do setor de processamento de laticínios na Colômbia no período 2014-2019, aplicando como metodologia a análise estática e de tendências dos indicadores contábeis e de gestão de valor que medem seu crescimento, eficiência, eficácia, efetividade, valor agregado econômico (EVA) e valor agregado de mercado (MVA). Verifica-se que este setor cresce em vendas, ativos e lucro líquido; e atinge retornos flutuantes sobre o patrimônio líquido, seguindo o comportamento de eficiência no controle de despesas, ampliado pelo uso de alavancagem financeira positiva. Entretanto, este setor destrói o EVA em três anos, com uma perda residual significativa em 2015, o que torna seu AMV negativo. O EVA segue a direção do retorno após impostos sobre o ativo operacional líquido, que em média é inferior ao custo de capital.BEstas descobertas podem ser complementadas por estudos semelhantes para grupos homogêneos em idade, tamanho, organização legal e área geográfica. CLASSIFICAÇÃO JEL GI0, M40, L66

Plastic and reconstructive surgery - do our undergraduate medical students have adequate awareness about it? Can we do something to improve their exposure, knowledge and interest in it?

Background: The purpose of this study is to assess the awareness levels about plastic surgery among medical students and to formulate appropriate teaching modules for undergraduate students to introduce and educate them about various plastic surgical procedures.Methods: A questionnaire-based study was done to assess awareness about procedures done under plastic surgery among medical students from second through final year. Collected data were statistically analyzed. The results were used to propose changes in teaching modules to medical students.Results: There is not much awareness about plastic surgery as a specialty amongst medical students. Plastic surgery is mostly perceived as cosmetic surgery, and the other procedures done under plastic surgery is not associated with the speciality by the medical students. Of all the clinical conditions given to the participants, there was not a single clinical condition where the respondents favoured undisputedly for plastic surgeons.Conclusions: Plastic surgery as a specialty is poorly understood by our undergraduate medical students so authors conclude there is lack of awareness, knowledge and disposition about plastic surgical procedures among them. Based on the report’s authors have formulated teaching and practical modules like enrichment courses, value added education, co-curricular activities and introduction to social media platforms related to plastic surgery for creating better awareness and knowledge among undergraduate medical students about plastic surgery.

Desempeño financiero de las empresas más innovadoras del sector real de Colombia / Financial performance of the most innovative companies of the real sector of Colombia / Desempenho financeiro das empresas mais inovadores do setor real da Colombia

Resumen Este artículo tiene como propósito examinar el desempeño financiero de veintiún empresas del sector real consideradas como las más innovadoras de Colombia al 2016. Para ello se realizó un estudio descriptivo de los indicadores contables de apalancamiento financiero total, rotación de activos operacionales, margen de utilidad neta y rendimiento del patrimonio, además de los indicadores financieros de valor económico agregado y valor de mercado agregado durante el período de 2012 al 2016. Los resultados evidencian que, de las veintiún empresas estudiadas, veinte generan un rendimiento sobre el patrimonio positivo, nueve empresas generan un valor de mercado agregado positivo y solo cuatro generan un valor económico agregado positivo cada año. Igualmente se estudian los efectos que tienen el activo neto operacional, el costo de capital y la utilidad operacional antes de impuestos para la generación de valor económico agregado en la muestra de empresas. Códigos JEL: M41, O30, L60, L80.

Abstract This article is aimed at examining the financial performance of twenty-one real sector companies considered the most innovative of Colombia in 2016. For this purpose, a descriptive study was made of the accounting indicators of leverage, asset turnover ratio, net income margin and return on equity in addition to the financial indicators of economic value added and market value added during the period from 2012 to 2016. The results show that, of the twenty-one companies studied, twenty generate a positive return on equity, nine companies generate a positive market value added and only four companies generate a positive economic value added every year The effects of the net operating assets, the cost of capital and the earnings before interest and taxes for the generation of economic value added are also studied in the sample of companies. JEL Classification: M41, O30, L60, L80.

Resumo Este trabalho tem por objetivo analisar o desempenho financeiro das empresas do setor real vinte considerado o mais inovador da Colômbia a 2016. Um estudo descritivo de indicadores financeiros de alavancagem financeira total, o volume de ativos operacionais, foi realizada margem de lucro líquido e retorno sobre o patrimônio, além dos indicadores financeiros de valor econômico agregado e valor agregado de mercado no período de 2012 a 2016. Os resultados mostram que, das vinte e uma empresas estudadas, vinte geram retorno sobre patrimônio líquido positivo, nove empresas geram um valor agregado de mercado positivo e apenas quatro geram um valor econômico agregado positivo a cada ano. Os efeitos dos ativos operacionais líquidos, custo de capital e resultado operacional antes dos impostos para a geração de valor econômico agregado na amostra de empresas também são estudados. Classificações JEL: M41, O30, L60, L80.

Evaluación financiera de la industria de fabricación de papel, cartón y derivados en Colombia 2010-2015 / Financial evaluation of the paper, cardboard and derivative manufacturing industry in Colombia 2010-2015 / Avaliação financeira da Indústria de fabricação de papel, cartão e produtos em Colombia 2010-2015

RESUMEN Este artículo tiene como propósito evaluar el desempeño financiero de la industria de fabricación de papel, cartón y derivados en Colombia en el período 2010-2015, mediante un análisis de los indicadores contables y de gestión del valor que miden su crecimiento, eficiencia, eficacia y efectividad. Se encuentra que esta industria genera rentabilidades contables en casi todos los años, menos en el 2014; y que el comportamiento de su efectividad depende en orden de importancia a la eficacia en el control de costos y gastos, a la eficiencia del uso de los recursos, quedando como tercer factor el apalancamiento financiero; no obstante, en cada año se destruye valor económico agregado (EVA), y su valor de mercado agregado (VMA) es negativo. Esta industria es destructora de valor porque la rentabilidad del activo neto operacional es inferior al costo de capital, donde la rentabilidad es creciente, con una caída considerable en el 2014, y el costo de capital oscilante. Esto contrasta con el sector homólogo en Estados Unidos de América donde se crea valor en cinco años, con rentabilidades del activo neto operacional superior y costo de capital inferior a la de Colombia. Los resultados encontrados podrían complementarse con estudios similares para grupos de empresas más homogéneos en cuanto a la edad, tamaño y ubicación geográfica. CÓDIGOS JEL G10, M40, L73

ABSTRACT The purpose of this paper is to evaluate the financial performance of the paper paperboard and derivatives industry in Colombia in the period 2010-2015, through an analysis of accounting and value management indicators that measure growth, efficiency, efficacy and effectiveness. It is found that this industry generates accounting returns in almost every year less in 2014; and that the behavior of its effectiveness depends in order of importance to the efficacy in the control of costs and expenses, to the efficiency of the use of resources, leaving as a third factor the financial leverage; however aggregate economic value (EVA) is destroyed each year and its aggregate market value (VMA) is negative. This industry is a value-destroyer because the profitability of net operating assets is lower than the cost of capital, where profitability is increasing, with a considerable drop in 20l4, and the cost of oscillating capital. This contrasts with the counterpart sector in the United States of America where value is created in five years, with higher net operating income and lower capital cost than Colombia. The results found could be complemented with similar studies for groups of companies more homogeneous in age, size and geographical location. JEL CLASSIFICATION G10, M40, L73

RESUMO O objetivo deste artigo é avaliar o desempenho financeiro da indústria de papel, papelão e derivados na Colômbia no período 2010-2015, através de uma análise dos indicadores contábeis e de gestão de valor que medem seu crescimento, eficiência, eficácia e efetividade Verifica-se que esta indústria gera retornos contábeis quase todos os anos, exceto em 2014; e que o comportamento de sua efetividade depende, por ordem de importância, da eficácia no controle de custos e despesas, na eficiência do uso de recursos, com alavancagem financeira como terceiro fator; no entanto, em cada ano, o valor econômico agregado (EVA) é destruído e seu valor agregado de mercado (VMA) é negativo. Essa indústria é uma destruidora de valor porque o retorno sobre os ativos operacionais líquidos é menor do que o custo de capital, onde a lucratividade está aumentando, com uma queda considerável em 2014, e o custo do capital flutua. Isso contrasta com o setor de contrapartida nos Estados Unidos da América, onde o valor é criado em cinco anos, com retornos sobre ativos operacionais líquidos e custos de capital inferiores aos da Colômbia. Os resultados encontrados poderiam ser complementados por estudos semelhantes para grupos de empresas que são mais homogêneas em termos de idade, tamanho e localização geográfica. CLASSIFICAÇÕES JEL G10, M40, L73

Internal Synergy Effects of Internal Auditting and Management Accounting in Public Hospitals from the Perspective of Value Added / 中国卫生经济

According to the synergy effect theory based on value-added perspective,it analyzed the synergistic effect between internal audit and management accounting on internal control,risk management,value creation,management concept and so on.The common goal of internal audit and management accounting were to improve the level of hospital management and realize the value added.

The Applicable Value-added Tax Policy, Accounting Treatment and Tax Planning in Public Hospitals / 中国卫生经济

Based on combing the value-added tax policy for public hospitals,it analyzed the tax burden influence of substituting the value-added tax for business tax to public hospitals.It pointed out that,in the case of the tax rate,the phenomenon of the tax burden did not decrease but increases to some degree occurs in public hospitals because the deductible input tax was less.In addition,it introduced the value-added tax related public hospital accountant course setting and the main accounting treatment under Government Accounting System,suggested that public hospitals should attach importance to the tax planning of value-added tax taxable items,detail cost,the corresponding expenditure of the taxable items and the corresponding expenses of tax-free income shall be separately accounted,to realize the matching of taxable income and cost,obtain the deductible value-added tax invoices of taxable behavior.

Tax and Fee Management and Research about the Large Governmental Hospitals In the Overall Business Tax Replaced with Value Added Tax times / 中国卫生经济

One of the objectives of the full implementation of Business Tax Replaced with Value Added Tax was to ensure that tax incidence in every industry decreased.But it did not mean that the tax incidences in all?enterprises were only reduced and not increased.Based on the surwey and analysis of tax and fee burdened by the governmental hospitals,it summarized the key content in tax management and tax planning in order to reduce risk.

Empirical Analysis on the Actual Tax Burden of Public Hospitals by "Replacing Business Tax with Value-added Tax" / 中国卫生经济

To study the effect of value-added tax(VAT) based on the actual tax burden of public hospitals.It was found that the value-added tax burden rate varied,while the tax saving effect was undesirable.It suggested that the public hospitals should make efforts to curb the situation of "no reduction,but increase",and work well in tax planning.

Analysis on theory and mode of wastes reclamation in process of industrialization of Chinese materia medica resources / 中草药

With the rapid development of Chinese materia medica (CMM) industry, ecological problems brought by CMM wastes in the process of industrialization of traditional Chinese medicine have become increasingly serious. This article analyzes the pattern of CMM wastes resource utilization deeply based on the externality theory of economics, theory of circular economy and value innovation. It comes up with trinity comprehensive utilization mode, which is the combination of extensive low utilization mode, conversion efficiency utilization mode, and high value-added utilization mode. Finally it puts forward specific measures in the process of industrialization of CMM waste resources development technology and resources management value-added.

Sector autopartes en Colombia: comportamiento financiero durante el período 2008-2014

En este artículo se presenta un diagnóstico financiero de las empresas del sector de autopartes de Colombia, con el fin de conocer cómo ha sido su desempeño financiero durante el período 2008-2014. Para ello se sigue una metodología de análisis de tendencias y comparaciones de indicadores de crecimiento, eficiencia, eficacia, efectividad, valor económico agregado y valor de mercado agregado, con datos suministrados por estudios en Colombia y en Estados Unidos de América. Los resultados muestran que el sector destruye valor económico agregado en todos los años, pese a que crece y genera utilidades contables; esto obedece a que el rendimiento del activo neto operacional no alcanza a compensar el cargo de capital. Los resultados en Colombia difieren de los de este mismo sector en Estados Unidos de América, donde se crea valor de mercado agregado. Esto se debe al menor rendimiento del activo y al mayor costo de capital medio ponderado que se tiene en Colombia. El primero está altamente influenciado por la eficacia de la gestión del control de costos y gastos; y el segundo, por el efecto que tiene el riesgo país y la devaluación sobre el costo del capital propio. Es recomendable ampliar esta investigación para muestras afines en su tamaño, edad, naturaleza jurídica y ubicación geográfica de este mismo sector y de sectores semejantes y complementarios como el de ensamble y la industria automotriz.

This article presents a financial analysis of the companies of the auto parts sector of Colombia in order to know how its financial performance has been during the period 2008 to 2014. For that, a methodology of analyzing trends and comparisons of indicators of growth, efficiency effectiveness, efficacy economic value added and market value added with data supplied by studies in Colombia and the United States. The results show that this sector destroys economic value added in all years, although it grows and generates accounting profits; this is because the performance of operational net asset fails to compensate the capital charge. The results in Colombia differ from those in this same sector in the United States, where market value added is created. This is due to the lower return on assets and the higher weighted average cost of capital present in Colombia. The first is highly influenced by the effectiveness of management control costs and expenses; and the latter by the effect of country risk and devaluation on the cost of equity. It is advisable to extend this research for related samples in size, age, legal status and geographical location of this same industry and similar and complementary sectors, such as the assembly and the automotive industry.

Este artigo apresenta uma análise financeira das empresas do setor de autopeças na Colômbia, a fim de saber o que tem sido o seu desempenho financeiro no período 2008-2014 é apresentado. Isto requer uma metodologia para análise de tendências e comparações de indicadores de crescimento, eficiência, eficácia, valor econômico agregado eo valor de mercado agregado, com os dados fornecidos por estudos na Colômbia e os Estados Unidos da América continua. Os resultados mostram que a indústria destrói valor econômico agregado em cada ano, apesar da crescente e gera lucros contábeis; Isso ocorre porque o desempenho operacional do activo líquido não pode compensar o custo de capital. Os resultados na Colômbia diferem daqueles do mesmo sector nos Estados Unidos da América, em que o valor de mercado total é criado. Isto é devido ao baixo retorno sobre os ativos e maior custo médio ponderado do capital detido na Colômbia. O primeiro é altamente influenciada pela eficácia dos custos e despesas de controlo de gestão; e, segundo, pelo efeito do risco-país e desvalorização sobre o custo de capital próprio. É aconselhável para estender esta pesquisa para amostras relacionadas em tamanho, idade, natureza jurídica e localização do mesmo setor e são semelhantes e complementares como a montagem e automotivo.

Thought for the Tax Burden on Public Hospitals under the Background of Substituting the Value-added Tax for Business Tax Reform / 中国卫生经济

Substituting the value-added tax for business tax was one of the main content of the current implementation of structural tax cutting.As the policy fully implemented,it put forward how to strengthen the management of public hospital in tax and accounting cohesion measures around the public hospital tax changes and the resulting effects.

Comparison of taxation policies suitable for public hospitals and private hospitals / 中国卫生政策研究

Objective:The aim of this paper intends to reveal the problem of taxation policies suitable for public hospitals and private hospitals so as to provide policy support for guiding the healthy development of public hospitals and private hospitals too. Methods:To achieve the objective of this study, a comparative analysis, and a descriptive analysis were used in comparing the taxable income and taxation policies suitable for public hospitals and private hos-pitals. Results:The findings of the present study show some of the key problems facing the taxation policies in public hospitals and private hospitals which include incomplete linked system of enterprise income tax, business tax changing value added tax pilot, difficult to guide practice;destroying the tax fair principle on account of it regarded the hospi-tal nature as identified conditions of tax payment or dispense tax; high tax hindered private hospital competitiveness and developing power;and financial opaque, absence of supervision, preferential taxation policy hard to implement. Conclusion:As per the analysis of this study, it is needed to define the hospital value added tax taxable items and its accounting system;to determine whether to pay the value-added tax and enterprise income tax according to the nature of hospital medical service project; and establish the disclosure system of hospital financial information, strengthen the transparency on income, expenditure and tax.

Design and Implementation of Hospital Value-added Service Platform / 医学信息学杂志

Based on the hospital information system, the hospital value-added service platform is constructed.The paper intro-duces the design scheme of the platform, its functional modules, the design of the database, the implementation of the platform and its application prospect, points out that the platform can not only serve as the channel for the information exchange between doctors and pa-tients but also offer such value-added services as health consultation and illness tracking other than regular services.

Practice and suggestions for the reform of drug and medical service separation reform and drug zero-profit policy in Wuhu / 中华医院管理杂志

The drug and medical consumables management center in Wuhu features the operational mechanism separating the decision-making power of drug purchasing,the executive power and the supervision power.This practice terminates the interest chain previously found between medicine suppliers with hospitals,pharmacies and doctors,creating the Wuhu Model of drug and medical service separation at public hospitals.The drug zero-profit policy reshapes the drug supply system and the existing compensation mechanism of public hospitals,further defining the Wuhu Model.This model is paving the way for the same reform to be carried out nationwide.

Study on Non-Value-Added Nursing Activities in a Tertiary Hospital / 간호행정학회지

PURPOSE: Purposes of this study were to identify non-value-added nursing activities (NVANAs) and to estimate the amount of time spent on NVANAs among total nursing activities. METHODS: Non-value-added nursing activities were identified though the use of a focus group. The nurses in the focus group were nurses working in a tertiary hospital. They discussed possible activities that could be NVANAs. Based on the focus group discussion, a pilot study was done to examine the actual occurrence of NVANAs in clinical settings. RESULTS: The focus group discussion showed that NVANAs occurred in ten categories of nursing performances including communication with physicians, communication with other departments, medications, equipment/supplies, nursing records, tests, admission, discharge, and transfer. Direct nursing activities accounted for 35.5% of total nursing activities while indirect nursing activities accounted for 64.5%. Of indirect nursing activities, 16% were NVANAs. Most NVANAs were related to communication and equipment/supplies. CONCLUSIONS: To improve the quality and efficiency of nursing activities, it is necessary to identify NVANAs and their causes. Results of this study suggest that improvement in the work process and nursing unit structure, support for equipment/supplies, and effective communication are needed to reduce NVANAs in tertiary hospitals in Korea.