THE IMPACT OF COVID – 19 ON FINANCIAL REPORTING AND BUSINESS SUCCESS OF SMALL AND MEDIUM ENTERPRISES IN THE HOSPITALITY INDUSTRY IN THE REPUBLIC OF CROATIA

Uslijed 2020. godine svijet, a time i Hrvatsku je zahvatila pandemija virusa COVID-19. U Hrvatskoj, prvi se negativni učinci na gospodarstvo bilježe već u ožujku 2020. godine. Kako bi zaustavio zarazu, Stožer civilne zaštite obustavlja mogućnost rada brojnim djelatnostima, uključujući i ugostiteljstvo. Budući da ugostiteljska djelatnost pripada prvenstveno malom i srednjem poduzetništvu, u ovom radu prvo se definiraju kriteriji za određivanje veličine poduzeća, zatim značajnost malih i srednjih poduzeća u hrvatskome gospodarstvu. Tijekom određenoga razdoblja promatra se značaj malih i srednjih poduzeća u gospodarstvu, odnosno udio prihoda, izvoza i zaposlenosti u malim i srednjim poduzećima s obzirom na ostvaren ukupan prihod, izvoz i zaposlenost poduzeća. Definira se normativni okvir malih i srednjih poduzeća, odnosno Međunarodni i Hrvatski standardi financijskog izvještavanja. Standardi se uspoređuju i razmatraju u okviru financijskoga izvještavanja malih i srednjih poduzeća. Nastupom pandemije Vlada Republike Hrvatske donosi razne pakete mjera pomoći gospodarstvu. Osim poduzeća sa značajnim padom prihoda, pravo prvenstva u dobivanju potpora i kredita imaju i djelatnosti kojima je obustavljen rad. Analiziraju se tri poduzeća u sektoru ugostiteljstva tako što se uspoređuju financijski pokazatelji uspješne 2019. godine s pandemijskom 2020. godinom. Cilj je ovoga rada utvrditi značaj malih i srednjih poduzeća, odnosno ugostiteljske djelatnosti za hrvatsko gospodarstvo, kao i analizirati i usporediti utjecaj zatvaranja i drugih ograničenja na poslovanje i uspješnost triju poduzeća u ugostiteljskoj djelatnosti.Due to 2020, the world was affected by the pandemic virus COVID-19, in Croatia the first negative effects on the economy were recorded in March 2020. In order to stop the infection, the Civil Protection Headquarters suspends the possibility of working in a number of activities, including hospitality. As the hospitality industry belongs primarily to small and medium enterprises, this master thesis first defines the criteria for determining the size of enterprises and then the importance of small and medium enterprises in the Croatian economy. This master thesis deals with small and medium – sized enterprises during a certain period of time of the COVID-19 virus pandemic. The master thesis analyzes: the share of income, exports and employment in small and medium enterprises in relation to the total income, exports and employment of enterprises. The normative frame work of small and medium enterprises is defined, and International and Croatian financial reporting standards are compared. They are compared and considered in the context of the financial reporting of small and medium enterprises. Due to the pandemic, the Government of the Republic of Croatia brings various economic measures to help the economy. Economic measures are mostly aimed at various companies that cannot perform their normal activities due to the new situation caused by the pandemic. Three companies in the hospitality sector are analyzed by comparing the financial indicators of success in 2019 with the pandemic 2020. The aim of this master thesis is to determine the importance of small and medium enterprises and the hospitality industry for the Croatian economy and to analyze and compare the impact of lockdown and other restrictions on the business and performance of three companies in the hospitality industry