FINANCIAL STABILITY OF SERBIAN AGRICULTURE, FISHING AND FORESTRY SECTOR
DOI:
https://doi.org/10.5937/ekoPolj2103745KKeywords:
financial analysis, financial stability, agriculture, ROA, ROEAbstract
The main aim of this research paper is to examine financial stability, including indebtedness, interest coverage, and profitability of enterprises in Serbian Agriculture, fishing, and forestry sector. The research was performed using the tools of accounting and financial analysis. Period from 2015 to 2019 was observed. Analysis was based on consolidated financial statements for all enterprises that belonged to the sector in mentioned period. Research results show that the enterprises managed to maintain acceptable level of long-term financial stability, while on the other hand, there was a more significant disturbance on the side of short term financial stability. Solid performances were recorded in the field of interest coverage, but also indebtedness where those indicators met referent values in almost every observed year. In the field of profitability that was examined via ROA and ROE indicators, poor performance was recorded.
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References
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3. Business Registers Agency, Financial Statements Annual Bulletins, Belgrade, Available at: https://www.apr.gov.rs/registri/fnansijskiizvestaji/publikacije/godisnji--bilten-fnansijskih-izvestaja.2127.html date of access: 10.02.2021.)
4. Dakić, S. & Mijić, K. (2020). Regression analysis of the impact of internal factors on return on assets: a case of meat processing enterprises in Serbia. Strategic Management, 25(1), 29-34
5. Dauderis, H. & Annand, D. (2014). Introduction to Financial Accounting. Valley Educational Services, Canada.
6. Fridson, M. & Alvarez, F. (2002). Financial Statements Analysis. John Wiley & Sons Inc., New York
7. Gibson, H., C. (2000). Financial Reporting & Analysis. Cengage Learning, Boston
8. Kabajeh, M., A., M., Nuaimat, A.,M.,S. & Dahmash, N., F. (2012). The relationship between the ROA, ROE and ROI Ratios with Jordanian Insurance Public Companies Market Share Prices. International Journal of Humanities and Social Science 2(11), 115-120.
9. Kulkarni, M. & Mahajan, S. (2008). Management Accounting. Nirali Prakashan, Mumbai.
10. Kuzman, B., Djurić, K., Mitrović, Lj. & Prodanović, R. (2017). Agricultural Budget and Agriculture Development in Republic of Serbia. Economics of Agriculture, 64(2), 515-531.
11. Malinić, D., Milićević, V. & Stevanović, N.. (2013). Management Accounting. Publishing Center of the Faculty of Economics, Belgrade. [In Serbian: Малинић, Д., Милићевић, В., Стевановић, Н. Управљачко рачуноводство]
12. Miljković, A. (2008). Financial Analysis. Academic of Economics, Novi Sad [In Serbian: Миљковић, А. (2008). Финансијска анализa].
13. Mitrović, S., Mitrović, A. & Cogoljević, M. (2017). Contribution of Agriculture to the Development of Serbia. Economics of Agriculture, 64(2), 805-819.
14. Nuryani, Y. & Sunarsi, D. (2020). The Effect of Current Ratio and Debt to Equity ratio on Dividing Growth. JASa. 4(2), 304-312
15. Palepu, K., G., Bernard, V., L. & Healy, P., M. (2000). Business Analysis & Valuation Using Financial Statements. South-Western, USA
16. Paramasivan, C. & Subramanian, T. (2009). Financial Management. New Age International Ltd. Publishers, New Delhi.
17. Robinson, R., T., Greuning, V., H. & Broihahn, A., M. (2009). International Financial Statements Analysis. John Wiley & Sons, Inc., New Jersey.
18. Rodić, J., Andrić, M., Vukelić, G., & Vuković, B. (2017). Financial Statements Analysis. Faculty of Economics, Subotica. [In Serbian: Родић, Ј., Андрић, М., Вукелић, Г., Вуковић, Б. (2017). Анализа финансијских извештајa].
19. Subramanyam, R., K. & Wild, J., J. (2009). Financial Statement Analysis. McGraw-Hill, New York.
20. Vunjak, N. (2014). Financial Management. Proleter Ltd., Bečej [In Serbian: Вуњак, Н. (2008). Финансијски менаџмент].
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Published
2021-09-25
How to Cite
Kuster, D. Z. (2021). FINANCIAL STABILITY OF SERBIAN AGRICULTURE, FISHING AND FORESTRY SECTOR. Ekonomika Poljoprivrede, 68(3), 745–758. https://doi.org/10.5937/ekoPolj2103745K
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Original scientific papers
