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This work suggests the existence of a number of advantages for companies that have opted for the application of International Accounting Standards. Their application allows fair reporting, which is extremely important for countries in transition, as well as for those countries that have not applied IAS. The authors carried a study related to full application of IAS 16 to 114 companies, of which 10 are public and 104 other companies are from the wider area of Novi Sad, in the period 2010-2015. In addition, the study of the case of public companies is done in order to demonstrate the situation before and after the valuation of assets and equipment as at 30 June 2012. The state after 3 years is fairly shown on 30 June 2015, all in order to make valid conclusions regarding fair reporting of the public enterprises. It can be concluded that the application of IAS 16 has multiple benefits by companies that fully apply fair reporting in its operations. JEL CLASSIFICATIONS G32; G39; Q56ARTICLE HISTORY

In the countries in transition, like the Republic of Serbia, system innovations are being introduced, such as the implementation of internal controls in enterprises. The authors of the paper formulated a research question which is if the introduction of internal controls could have an impact on the improvement of governance in public utility enterprises founded by the units of local self government. The main goal of the research was to identify possible improvement in corporate operations measured by an increase in revenues made by public utility enterprises following the implementation of internal controls. In addition to that, the secondary goal of the authors was to determine differences in operating efficiency between public utility enterprises and the so called other enterprises that put in place internal controls in their current operations. Further on, the authors of this paper wanted to find out which type of internal controls in place in public utility enterprises and other enterprises enabled best performance. The usefulness of the study is visible in the presented results of the research. Specifically, they indicate significant differences between public utility enterprises and other enterprises, both in terms of implementation of internal controls and in their performance, which was proven in 2018. In addition to that, performance of public utility enterprises founded by local self-government units is found to be better than that of the so called other enterprises after the introduction of internal controls.

In the study attempts to analyze soybean production and possibility obtaining biogas from soybean biomass, in order to obtain energy inputs into the profit function and realized a circular economy. This paper presents the results of fiveyear studies of soybean production analysis in the world and in Serbia, and was also examined soybeans morphoproductive characteristics and on the biogas yield, of the Favorit variety, produced in Pancevo, Serbia. Serbia has excellent conditions for soybeans production. The maximum soybean biomass yield of soybean variety Favorit was 5 t ha-1. The average biogas yield, for tested five years, was 368 m3ha-1. The biogas yield was in positive statistically significant correlations on the plant height (r=0.65*) and in positive correlations with biomass yield. Soybean cultivar with their characteristics justify the sowing and can be used as a raw material in bio-fuels production.