Contemporary Economics supports GIKA


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Volume 3 Issue 1 (2009)

Reflections on e-Learning Readiness in Albanian Education original article

pp. 5-18 | First published in 24 March 2009 | DOI:

Ezmolda Barolli, Kozeta Sevrani


Nowadays e-Learning has been identified to be the future of learning worldwide sincethe very powerful platform of the Internet has accelerated the speed of communication.Adoption of e-learning has become the latest trend across universities all over the world.Albania is part of a global shift from material resources to knowledge and intellectualresources as the basis for economic growth. Educators across Albania are aware thatstudents must have an education that enables the students to participate successfully inand contribute to the knowledge economy. E-Learning readiness is an initial part of e-Learning development. In order to benefit from e-learning, higher education institutionsin Albania should conduct considerable up-front analysis to assess their readiness. Inthis paper we are trying to examine the status of e-Learning readiness in Albania,analyzing and discussing several components and criteria based on literature.

Pension Systems in Europe. Case of Portugal original article

pp. 19-30 | First published in 24 March 2009 | DOI:

Jarosław Poteraj


The article presents an insight into the old age pension system in Portugal. Theauthor’s goal was to present both past and present solutions employed by the Portuguese’spension system, in search for ideas worth consideration in international comparisons. Inthe summary, the author highlights as a particular Portuguese approach, on thebackground of other countries, the fact of using in Portugal definite part of VAT incomefor pension system financing.

Functioning Aim of the Competitions and Customers Protection Office original article

pp. 31-41 | First published in 24 March 2009 | DOI:

Krzysztof Kocurek


The article presents basic functioning aims of the Competitions and CustomersProtection Office in Poland. The main goal of its functioning is simplification of economydevelopment and increasing the economic freedom. The article presents also the mainrules of functioning the Protection Office and competence of its chairman.

Can a South East European Country Have a Strong Currency? Albania Case original article

pp. 43-52 | First published in 24 March 2009 | DOI:

Adriatik Kotorri, Alban Korbi


The dilemma which is presented in this article is connected with problem of excessivefor a currency. The discussion is based on South Eastern European country case, whichis the Albania and its currency – Lek. This currency has a very low marketability outsideAlbania and a pretty short history in the currency exchange market, during which it hadexperienced high fluctuations. But we should accept that after the 2000’s, our nationalcurrency began to reach relatively constant ratios with the main currencies on theexchange market. This stability has fulfilled the normalization picture of themacroeconomic parameters, which were so much unstable during the fast essentialchanges that happened in the first years of transition.In this article we will try to present the real position of the Albanian currency in theAlbanian exchange market.

Directions of Changes in Dividend Taxation System in Poland original article

pp. 53-64 | First published in 24 March 2009 | DOI:

Agata Sierpińska


In the article, main directions of changes in dividend taxation system in Poland arepresented. Actually dividend tax rate is equally for each type of shareholders – individualand institutional, but conditions of dividend policy for them are different. For example,Polish institutional investors are exempted from dividend tax, but foreign institutionalinvestors must pay dividend tax. The information presented in the article are agreeablewith European Union regulations.

Innovative Concepts of Budgeting in the Enterprises original article

pp. 65-73 | First published in 24 March 2009 | DOI:

Adam Bąk


The article presents the current concepts of budgeting with the special focus oninnovative budgets. It includes the evolution of the budgeting concept starting from thetraditional one which was applied in the second half of the 20th Century and assumed thebudget as the main tool for the achievement of company’s goals. The next presented methodis Better Budgeting. It arouse at the nineties as the resposne for the critics of the traditionalmethod which was accused for the fixed assumptions which were no longer matching withthe fast changing competitive environment. This method assumed the high level of budgetpreparation as he opposite to the detailed level as well as shorter planning period. TheBeyond Budgeting was the most radical method and eliminated budget as the toolsupporting the management; the concept has been used from the nineties until today, bymore than seventy multinational companies from beyond budgeting round table.However, Beyond Budgeting was also criticised for not being applied in the industrialsector and too theoretical approach. Therefore, Ronald Gleicha from European BusinessSchool, established a working group, which icludes the scientists and managers, in orderto create by mid of 2009, the new and opitimal method, which is called Modern Budgeting.

Financial Effects of Different Amortization Methods of the Enterprise’s original article

pp. 75-88 | First published in 24 March 2009 | DOI:

Alina Zając


Every enterprise could lead economic activity and has to possess suitable materialbase, which makes up first of all the productive potential, consisting mainly with centersof production, and so the centers of work ( the buildings, machine and the device) and theobjects of work ( the materials). It is individual subject gradual waste of that isamortization property. Amortization is reflection in track of peeled period of exploitationtheir waste, but simultaneously making up cost has influence on formation the financialresult of the enterprise.

Evaluation of Customer’s Creditworthiness as the Instrument of Corporate Trade Credit Policy original article

pp. 89-103 | First published in 24 March 2009 | DOI:

Anna Wodyńska


For many small and medium companies trade credit availability is a factor whichdetermines their existence. Financial meaning of trade credit increases with freedom ofits granting or taking. Trade credit is the most convenient way of financing activity, that’swhy stipulating terms and conditions of its granting to borrowers is a significant elementof credit policy. The policy adopted by a company should indicate directions and salesbarriers so that the firm can maintain and improve its market position. In order to evaluate customer’s creditworthiness, to specify repayment period, creditamount, rate of interest and repayment schedule (installments) it is indispensable toestablish an appropriate system. The key to success in granting a trade credit is selectionof appropriate business partners. The system of customers verification should give ananswer to the question whether the company with which we do business or we intend todo so in the future is creditworthy and the decision about allowing a trade credit shouldbe a result of well thought out credit policy.The author of present article indicates basic methods and tools of contractorcreditworthiness evaluation, and she also proposed a payer’s creditworthiness evaluationsheet, which can be applied to build such a system.

Cope with Stress in Manager Life original article

pp. 105-111 | First published in 24 March 2009 | DOI:

Marek Botek


The article deals with stress mainly in managerial positions. Stress is much extendedin all aspects of our life and employment is an important factor which increases the levelof stress. Managers have specific place between other occupations. At first the paperdescribes the most frequent stressors generally and kinds of coping stress methods. Thenthere are introduced some groups of stressors which are more frequent in managerialpositions. The paper is closed by preventive methods of coping stress.