Recession and Covid-19 Impact on Cost Management, Wizz -Air Company, case study (Published)
Recession, an inevitable economic phenomenon that is difficult to predict by the scientists of the time, a pandemic which hits the economic-financial sphere of a certain region or in global form, but as this phenomenon spreads, what are its consequences? What is the right and most effective way today for an entity to successfully meet this challenge? One of the most appropriate forms is the role that cost and management accounting management has in the performance of an entity, as well as the decisions taken by their managers, as it is the latter who manage to “predict” the consequences of this economic downturn and enable its survival.The purpose of the paper is the role that cost and management accounting plays in the recession, specifically the economic downturn caused by the Covid-19 pandemic, by analyzing how managers managed to cope and what decisions were made. The working methodology is descriptive, comparative and analytical based on the secondary data obtained in the study and specifically focused on the airline “Wizzair”, which is part of the transport sector. This sector, being also related to tourism, is among the most affected by the pandemic of recent years. In the following we will present the decisions that were taken by senior managers and based on the analysis of the results we will conclude whether they were appropriate or not.
Keywords: Budgeting, COVID-19 pandemic, Management, Management Accounting, Recession, cost accounting
Factors Affect Financial Performance of Savings and Credit Co-Operative Societies During Covid 19 Pandemic in Dodoma Region (Published)
The objective of the study was to assess factors affect the financial performance of the Savings and Credit Cooperative Societies operating in Dodoma Tanzania. The quantitative method was used to analyse data. The descriptive survey was used whereas systematic and purposive sampling techniques were used to secure 63 respondents. Survey, and documentary review were used to collect data meanwhile descriptive and regressions analysis were used in data analysis. There study was guided by Resource Dependence Theory (RDT), and Cash Conversion Cycle Theory. The results revealed that the overall model was statistically significant since (Prob > chi2=0.000). The model’s independent variables explained almost 63.8% of the variation in the return on asset of SACCOS in Dodoma. The following explanatory variables (such like interest rate, loan default and drop out of the members) were statistically significant influencing the return on asset for SACCOS selected from Dodoma Tanzania. Researcher recommended SACCOS should put more emphasis on online supervision and self-regulation in periods of pandemic, and considered it as one of the strategies to help the viability of the sector. Cooperative Audit and Supervision Corporation should opt to use off-site audit under hygienic environment to curb the spread of the virus.
Citation: Juma M.L. and Maseko F.E. (2022) Factors Affect Financial Performance of Savings and Credit Co-Operative Societies During Covid 19 Pandemic in Dodoma Region, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 11, pp.104-124
Keywords: COVID-19 pandemic, Financial Performance, SACCOS
Recession and Covid-19 Impact on Cost Management; Wizz-Air Company, case study (Published)
Citation: Ejona Duçi, Rovena Troplini and Xhenisa Myshketa (2022) Recession and Covid-19 Impact on Cost Management; Wizz-Air Company, case study, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 3, pp.1-17
Abstract: Recession, an inevitable economic phenomenon that is difficult to be predicted by the scientists of the time, a pandemic which hits the economic-financial sphere of a certain region or in global form, but as this phenomenon spreads, what are its consequences? What is the right and most effective way today for an entity to successfully meet this challenge? One of the most appropriate forms is the role that cost and management accounting management has in the entity performance, as well as the decisions taken by their managers, as it is the latter who manage to “predict” the consequences of this economic downturn and enable its survival.The purpose of the paper is to study the role of cost and management accounting in a recession situation, specifically the economic downturn caused by the Covid-19 pandemic. This is done by analysing how managers managed to cope with such situations and what decisions they have taken. Other important elements which have been studied are variable and fixed cost during recession. The methodology of the study is descriptive, comparative and analytical based on the secondary data obtained from statistical institutions in Albania and especially the focus is on the airline company, “Wizz Air”, which is part of the transport sector. This sector, being related to travelling, is among the most affected by the pandemic situation, because of travel restrictions applied in recent years. A regression analysis is used to see the relation between costs and between employees number and employee cost and how Wizz Air company has reduced some possible costs. According to this analysis appropriate conclusions have been shown.
Keywords: Budgeting, COVID-19 pandemic, Management, Management Accounting, Recession, cost accounting