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The purpose of this article is to identify problems and opportunities for improving the formation of financial statements (FS) in accordance with International Standards, which is the most important instrument for international economic integration.

In carrying out the research, we used the FS of the modern organizations, prepared in accordance with International Standards (IASs and IFRSs), posted on the official websites of these organizations. At the same time, we researched the FS of both Russian and foreign organizations in order to draw conclusions about the problems of preparing FS in accordance with International Standards, which are typical for most modern organizations in different countries. When conducting research, we used methods such as comparison, analysis and synthesis.

We identified the main problems that arise in practice when preparing FS in accordance with International Standards, which are typical for both Russian and foreign organizations. We also analysed the project of the IASB (the organization that develops these standards) to improve the requirements for the preparation of FS in accordance with International Standards. Based on the analysis carried out, we identified the main problems arising from the planned requirements of this project. As a result of the research carried out, we made proposals for solving the identified problems of the formation of FS in accordance with International Standards.

Our proposals can be used to improve the regulations of International Standards for the formation of FS, and can also be applied in the practical work of modern organizations.

Purpose – The purpose of this research is to investigate the relationship of lead (Pb) and zinc (Zn) contents in sediment of Faunus ater (F. ater) population density and to analyze the relationship between Pb and Zn accumulation in F. ater with F. ater density in Reuleng River, Leupung, Aceh Besar.

Design/Methodology/Approach – Sampling was conducted in November 2016 until January 2017. Density of F. ater was analyzed by density formula while its relationship to Pb and Zn in sediments and F. ater was conducted by correlation analysis method.

Findings – The results showed that correlation between Pb and Zn in sediments and in F. ater varies at each locations on every month of sampling. Pb and Zn content in sediments found a fluctuating relationship in each month of sampling with density of F. ater. Correlation of Pb content in sediments with F. ater density showed a medium correlation in January 2017 with r-value = 0.665. Zn in sediment has a very strong correlation to F. ater density in November 2016 with r-value = 0.891. Pb in F. ater has a medium correlation to F. ater density in January 2017 with r-value = 0.436. Furthermore, accumulation of Zn in F. ater to its density does show some apparent correlation in each month of sampling.

Research Limitation/Implications – This research gives information about the relationship of Pb and Zn contents in sediment to density of F. ater and to analyze correlation of Pb and Zn in F. ater to density of F. ater in Reuleng River, Leupung, Aceh Besar district.

Originality/Value – This is the first time research is conducted about on the correlation between lead and zinc to obtain the density of F. ater.

This chapter adopts value at risk (VaR) to analyze the hedge timing issue. Suppose that a producer, at a give time, recognizes the possible need of a futures contract for risk reduction purpose. Should the producer trade in the futures market immediately or should he wait? Conditions are characterized under which delaying the hedge decision is preferred as it produces a smaller VaR. For an efficient futures market, it appears that the producer is better off delaying the hedge decision as long as possible. However, strong backwardation promotes early hedging.

The aim of this study was to investigate consumer preferences and profile their food-related lifestyles, as well as to identify consumer groups with similar attitudes/behaviours in the Euro-Mediterranean fruit and vegetable market.

A structured questionnaire was designed drawing from the food related lifestyles instrument and including other factors relevant to fruit and vegetable consumer preferences. The data were collected in an online survey with 925 participants in France, Greece, and Italy. A principal component analysis was conducted to interpret and examine consumers' fruit and vegetable related lifestyles. In addition, a cluster analysis was performed to identify different consumer segments, based on the core dimensions of the food-related lifestyle approach.

In each country, three primary consumer segments were distinguished. Health-conscious individuals were predominant in France and Greece, while quality-conscious consumers were prevalent in Italy. These classifications were determined considering various factors such as purchase motivation, perception of product quality, health concerns, environmental certifications, and price sensitivity.

The food-related lifestyle approach has been adapted instrument to create a customised survey instrument specifically designed to capture the intricacies of fruit and vegetable consumer preferences and priorities in three Euro-Mediterranean Countries.

Multiple encapsulated phase change materials (PCMs) are used in a wide range of applications, including convective drying, electronic cooling, waste heat recovery and air conditioning. Therefore, it is important to understand the performance of multiple PCMs in channels with flow separation and develop methods to increase their effectiveness. The aim of the study is to analyze the phase transition dynamics of multiple encapsulated PCMs mounted in a U-shaped tube under inclined magnetic field by using ternary nanofluid.

The PCMs used in the upper horizontal channel, vertical channel and lower horizontal channel are denoted by M1, M2 and M3. Magnetic field is uniform and inclined while finite element method is used as the solution technique. Triple encapsulated-PCM system study is carried out taking into account different values of Reynolds number (Re, ranges from 300 to 1,000), Hartmann number (Ha ranges from 0 and 60), magnetic field inclination (between 0 and 90) and solid volume fraction of ternary nanofluid (between 0 and 0.03). The dynamic response of the liquid fraction is estimated for each PCM with varying Re, Ha and t using an artificial neural network.

It is observed that for PCMs M2 and M3, the influence of Re on the phase transition is more effective. For M2 and M3, entire transition time (t-F) lowers by approximately 47% and 47.5% when Re is increased to its maximum value, whereas it only falls by 10% for M1. The dynamic characteristics of the phase transition are impacted by imposing MGF and varying its strength and inclination. When Ha is raised from Ha = 0 to Ha = 50, the t-F for PCM-M2 (PCM-M3) falls (increases) by around 30% (29%). For PCMs M1, M2 and M3, the phase transition process accelerates by around 20%, 30% and 28% when the solid volume fraction is increased to its maximum value.

Outcomes of this research is useful for understanding the phase change behavior of multiple PCMs in separated flow and using various methods such as nano-enhanced magnetic field to improve their effectiveness. Research outputs are beneficial for initial design and optimization of using multiple PCMs in diverse energy system technologies, including solar power, waste heat recovery, air conditioning, thermal management and drying.

This study aims to discuss the mathematical modelling of a compliance-assisted flapping mechanism and morphable structures for an UAV.

A compliance-assisted flapping wing was designed and modelled mathematically, and signals for the corresponding curves were calculated. The actual wing tip trace of a hummingbird was taken, and variables a, b, h and k were calculated from the image. This data was given to the mathematical model for plotting the graph, and the curve was compared with the input curve. The wing frame and mechanism for control surfaces using morphing is modelled along with single pivoted spine for centre of gravity augmentation and flight orientation control.

The model efficiently approximates the 2D path of the wing using line segments using the muscle and compliance mechanism.

Using a compliance-assisted flapping mechanism offers practical advantages. It allows us to synchronize the flapping frequency with the input signal frequency, ensuring efficient operation. Additionally, the authors can enhance the torque output by using multiple muscle strands, resulting in a substantial increase in the system’s torque-to-weight ratio. This approach proves to be more favourable when compared to conventional methods involving motors or servos, ultimately offering a more efficient and robust solution for practical application.

This model focuses on creating a flexible and tunable mechanism that can at least trace four types of wing traces from the same design, for shifting from one mode of flight to another.

Conventional ornithopter flapping mechanisms are gear or servo driven and cannot trace a wing tip, but some can trace complicated curves, but only one at a time. This model can trace multiple curves using the same hardware, allowing the user to program the curve based on their needs or bird. The authors may vary the shape of the wing tip trace to switch between forward flight, hovering, backward flying, etc., which is not conceivable with any traditional flapping mechanism.

Mobile robots with independent wheel control face challenges in steering precision, motion stability and robustness across various wheel and steering system types. This paper aims to propose a coordinated torque distribution control approach that compensates for tracking deviations using the longitudinal moment generated by active steering.

Building upon a two-degree-of-freedom robot model, an adaptive robust controller is used to compute the total longitudinal moment, while the robot actuator is regulated based on the difference between autonomous steering and the longitudinal moment. An adaptive robust control scheme is developed to achieve accurate and stable generation of the desired total moment value. Furthermore, quadratic programming is used for torque allocation, optimizing maneuverability and tracking precision by considering the robot’s dynamic model, tire load rate and maximum motor torque output.

Comparative evaluations with autonomous steering Ackermann speed control and the average torque method validate the superior performance of the proposed control strategy, demonstrating improved tracking accuracy and robot stability under diverse driving conditions.

When designing adaptive algorithms, using models with higher degrees of freedom can enhance accuracy. Furthermore, incorporating additional objective functions in moment distribution can be explored to enhance adaptability, particularly in extreme environments.

By combining this method with the path-tracking algorithm, the robot’s structural path-tracking capabilities and ability to navigate a variety of difficult terrains can be optimized and improved.

This paper originally proposed the fuzzy option pricing method for green bonds. Based on the requirements of arbitrage equilibrium, this paper draws on Merton's corporate bond option pricing model.

Describing the asset value behavior of green bond issuing enterprises through diffusion-jump processes to reflect the uncertainty brought by carbon emission reduction policies and technologies, using approximation methods to get the analytical pricing formula and then, using a fuzzification technique of Choquet expectation under  λ-additive fuzzy measures after considering fuzzy factors, the paper provides fuzzy intervals for the parity coupon rates of green bonds with different subjective levels for investors.

The paper proposes and argues the classical and fuzzy option pricing methods in turn for both corporate ordinary bonds and green bonds, considering carbon risk or climate risk. It implements the scenario analysis varying with industry emission standards and discusses the sensitiveness of the related key parameters of the option.

The fuzzy option pricing for the green bonds provides the scope of the variable equilibrium values, operational theoretical supports and some policy implications of carbon reduction and promoting green funding.

The logic of introducing the fuzziness of the option pricing for the green bonds lies with considering the existence of fuzzy information about the project supported by the green bond and the subjectivity of investors and it also responds to changes in technological uncertainty and policy uncertainty in the process of “carbon peaking and carbon neutrality.”

Financial inclusion and digital finance go side by side and help enhance agricultural activities; however, the magnitude of digital financial services varies across countries. In line with this argument, this study aims to examine whether financial inclusion enhances agricultural participation and decompose the significance of the difference in determinants of agricultural participation between financially included – not financially included households and digital finance – no digital finance households.

This study uses Pakistan’s household integrated economic survey 2018/19 to test hypotheses. The logit model is used to examine the effect of financial inclusion on agriculture participation. Moreover, this study employs a nonlinear Fairlie Oaxaca Blinder technique to investigate the difference in determinants of agricultural participation.

This study reports that financial inclusion positively influences agricultural participation, meaning households may have access to financial services and participate in agricultural activities. The results suggest that the likelihood of participating in agriculture in households with mobiles and smartphones is higher. Moreover, household size, income, age, gender, education, urban, remittances from abroad, fertilizer, pesticides, wheat, cotton, sugarcane, fruits and vegetables are the significant determinants of agricultural participation. To distinguish the financially included – not financially included households’ gap, this study employs a nonlinear Fairlie Oaxaca Blinder decomposition and finds that differences in fertilizer explain the substantial gap in agricultural participation. Likewise, this study tests the digital finance – no digital finance gap and finds that the difference in fertilizer is a significant contributor, describing a considerable gap in agricultural participation.

Empirically identified that various factors cause agricultural participation including financial inclusion and digital finance. Regarding the research limitation, this study only considers a developing country to analyze the findings. However, for future research, scholars may consider some other countries to compare the results and identify their differences.

The accessibility of fertilizer can reduce the agricultural participation gap. However, increased income level, education and cotton and sugar production can also overcome the differences in agriculture participation between digital finance and no digital finance households.

This is the first study to decompose the difference in determinants of agricultural participation between financially and not financially included households.