Volumul III – Sectiunea: Finante, Banci si Contabilitate
Arhiva Revistei Facultatii de Stiinte Economice
Tom XVII 2008 – Volumul III – Sectiunea: Finante, Banci si Contabilitate
Titlul lucrarii: FINANCIAL ANALYSIS OF COMPANIES ON THE CAPITAL MARKET
Autor(i): Achim Monica Violeta, Achim Sorin Adrian, Borlea Nicolae Sorin, Pintea Mirela
Rezumat: In the current context of economic globalization, financing through the capital market has become a modern alternative against financing through the monetary market, therefore investors shall be the main users of financial information.
Financial analysis has to be able to offer also to this category of users of financial information the adequate instruments to fundamental decision making of investing on the capital market through the so-called market ratios.
Market ratios are the most comprehensive means of measurement of a company as they reflect the corroborated influence of risk and profitability financial ratios.
This paper issue the main market ratios calculated by the investors on the market capital by help of two types of analysis methods (fundamental and technical methods).
Cuvinte cheie: market ratio, investors, fundamental analysis, technical analysis, market capital.
Cod JEL: F30, G10
Autor(i): Achim Monica Violeta, Achim Sorin Adrian, Borlea Nicolae Sorin, Pintea Mirela
Rezumat: In the current context of economic globalization, financing through the capital market has become a modern alternative against financing through the monetary market, therefore investors shall be the main users of financial information.
Financial analysis has to be able to offer also to this category of users of financial information the adequate instruments to fundamental decision making of investing on the capital market through the so-called market ratios.
Market ratios are the most comprehensive means of measurement of a company as they reflect the corroborated influence of risk and profitability financial ratios.
This paper issue the main market ratios calculated by the investors on the market capital by help of two types of analysis methods (fundamental and technical methods).
Cuvinte cheie: market ratio, investors, fundamental analysis, technical analysis, market capital.
Cod JEL: F30, G10
Text complet
Paginatie: 25-30
Titlul lucrarii: THE INFLUENCE OF THE TAXATION POLICY ON THE ECONOMIC AGENTS ON THE EUROPEAN VIEW. THE DIRECT TAX – VALUE ADDED TAX
Autor(i): Antohi Valentin Marian
Rezumat: The fiscal system acts upon all the enterprises, so, the influence upon the economic – financial performances appears at all the levels of the economic agents. At first sight, the tax action upon economic – financial performances manifests in the same modality, regardless of the company which refers to. This standardisation of the way the tax policy acts upon the economic – financial performances of the companies starts from the idea that the law is the same for everybody. Really and truly , but not everybody understands the law in the same manner, not everybody can take advantage of some facilities (not always very easy to remark) offered by the law.
Cuvinte cheie: the taxes, the value added tax ,fiscality, economic – financial levers
Cod JEL: G12, G14
Autor(i): Antohi Valentin Marian
Rezumat: The fiscal system acts upon all the enterprises, so, the influence upon the economic – financial performances appears at all the levels of the economic agents. At first sight, the tax action upon economic – financial performances manifests in the same modality, regardless of the company which refers to. This standardisation of the way the tax policy acts upon the economic – financial performances of the companies starts from the idea that the law is the same for everybody. Really and truly , but not everybody understands the law in the same manner, not everybody can take advantage of some facilities (not always very easy to remark) offered by the law.
Cuvinte cheie: the taxes, the value added tax ,fiscality, economic – financial levers
Cod JEL: G12, G14
Text complet
Paginatie: 31-37
Titlul lucrarii: PENSIONS INSURANCE SYSTEM IN ROMANIA AND IN EUROPEAN UNIONТS STATE MEMBERS
Autor(i): Antohi Valentin Marian
Rezumat: The actual socio-demographical and economical context of Romania – the ageing of the population, the reduction of the active population, macro economical problems and so; transforms social protection and pension systemТs efficient administration into a fundamental challenge not only for the actual governments but for the future ones. This unfortunate context becomes an alarming situation for the countries in a transition period, like Romania – incapable of finishing a pension reform, lack of vision and coherent strategies in field-, and also for the developed countries which are confronting with a growth lack of balance between available resources and those necessary for pension insurance.
Cuvinte cheie: pensions, reform, European, socio – demographical context.
Cod JEL: G15, H20
Autor(i): Antohi Valentin Marian
Rezumat: The actual socio-demographical and economical context of Romania – the ageing of the population, the reduction of the active population, macro economical problems and so; transforms social protection and pension systemТs efficient administration into a fundamental challenge not only for the actual governments but for the future ones. This unfortunate context becomes an alarming situation for the countries in a transition period, like Romania – incapable of finishing a pension reform, lack of vision and coherent strategies in field-, and also for the developed countries which are confronting with a growth lack of balance between available resources and those necessary for pension insurance.
Cuvinte cheie: pensions, reform, European, socio – demographical context.
Cod JEL: G15, H20
Text complet
Paginatie: 38-43
Titlul lucrarii: FISCAL AND ACCOUNTING ASPECTS REGARDING THE RELIGIOUS UNITS IN ROMANIA
Autor(i): Antonescu Mihail, Buziernescu Radu
Rezumat: Taking into account the important role of the religious cults in the social life of a nation, the state, besides subsidizing from the state budget the activities unfolded as public use authorities, sustains the cult units by granting them certain fiscal facilities.
Thus, the religious cults acknowledged by law are exempted from paying the profit tax for revenues obtained from the production and capitalization of objects and products specific to cult units, but also for certain revenues obtained from unfolding economic activities. The capitalization of religious cult objects is also VAT exempted, as well as the payment of the tax on certain buildings and land in their patrimony.
For the unfolded economic activities, with some exceptions, the cult units are treated like the other economic operators.
Cuvinte cheie: religious cults, fiscal facilities, fiscal obligations, accounting activity
Cod JEL:
Autor(i): Antonescu Mihail, Buziernescu Radu
Rezumat: Taking into account the important role of the religious cults in the social life of a nation, the state, besides subsidizing from the state budget the activities unfolded as public use authorities, sustains the cult units by granting them certain fiscal facilities.
Thus, the religious cults acknowledged by law are exempted from paying the profit tax for revenues obtained from the production and capitalization of objects and products specific to cult units, but also for certain revenues obtained from unfolding economic activities. The capitalization of religious cult objects is also VAT exempted, as well as the payment of the tax on certain buildings and land in their patrimony.
For the unfolded economic activities, with some exceptions, the cult units are treated like the other economic operators.
Cuvinte cheie: religious cults, fiscal facilities, fiscal obligations, accounting activity
Cod JEL:
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Paginatie: 44-48
Titlul lucrarii: CONSIDERATIONS REGARDING TO THE REGULATION OF BUILDING TAXATION COMPARATIVE STUDY ROMANIA- HUNGARY
Autor(i): Ardeleanu – Popa Carmen Teodora, Cirmaciu Diana
Rezumat: The local taxes and fees represent an important financing source of the local public needs. Indeed under the reform conditions of the local public administration, of the economical, social and cultural institutions, for the accomplishment of a real local; autonomy, a major objective is to assure sufficient financial resources, in proportion to the competences of the local and district councils.
Cuvinte cheie: local taxation, building, taxable value, inventory value
Cod JEL: H21, G10
Autor(i): Ardeleanu – Popa Carmen Teodora, Cirmaciu Diana
Rezumat: The local taxes and fees represent an important financing source of the local public needs. Indeed under the reform conditions of the local public administration, of the economical, social and cultural institutions, for the accomplishment of a real local; autonomy, a major objective is to assure sufficient financial resources, in proportion to the competences of the local and district councils.
Cuvinte cheie: local taxation, building, taxable value, inventory value
Cod JEL: H21, G10
Text complet
Paginatie: 49-51
Titlul lucrarii: DECISIONS REGARDING THE FINANCIAL STRUCTURE OF THE COMPANY
Autor(i): Bуtrтncea Ioan, Bуtrтncea Larissa-Margareta, Moscviciov Andrei, Ardelean Victor
Rezumat: The paper presents the relevant aspect regarding the analysis of entityТs decisions in the conditions of equilibrium. The authors show the importance of using the indicators in the context of elaborating financial decisions.
Cuvinte cheie: financial policy, leverage effect, financial profitability
Cod JEL: G11, G31, H10
Autor(i): Bуtrтncea Ioan, Bуtrтncea Larissa-Margareta, Moscviciov Andrei, Ardelean Victor
Rezumat: The paper presents the relevant aspect regarding the analysis of entityТs decisions in the conditions of equilibrium. The authors show the importance of using the indicators in the context of elaborating financial decisions.
Cuvinte cheie: financial policy, leverage effect, financial profitability
Cod JEL: G11, G31, H10
Text complet
Paginatie: 52-56
Titlul lucrarii: THE INFLUENCE OF TAXES ON FINANCIAL EQUILIBRIUM
Autor(i): Batrтncea Ioan, Csegedi Sandor
Rezumat: In this paper, the authors present the method of evaluating the effect of taxation on the financial equilibrium of the company.
Cuvinte cheie: working capital, working capital requirement, net treasury, net standing.
Cod JEL: H20, G10, G30
Autor(i): Batrтncea Ioan, Csegedi Sandor
Rezumat: In this paper, the authors present the method of evaluating the effect of taxation on the financial equilibrium of the company.
Cuvinte cheie: working capital, working capital requirement, net treasury, net standing.
Cod JEL: H20, G10, G30
Text complet
Paginatie: 57-63
Titlul lucrarii: CASH – FLOW ANALYSIS MODEL
Autor(i): Bуtrтncea Ioan, Moscviciov Andrei, Ardelean Victor, Borlea Sorin
Rezumat: In the paper the authors show a new method of computing and a system of indicators in order to analyze the cash-flow statement of a company.
Cuvinte cheie: cash-flow, current assets, debts, current liabilities
Cod JEL: G31, H20, G10
Autor(i): Bуtrтncea Ioan, Moscviciov Andrei, Ardelean Victor, Borlea Sorin
Rezumat: In the paper the authors show a new method of computing and a system of indicators in order to analyze the cash-flow statement of a company.
Cuvinte cheie: cash-flow, current assets, debts, current liabilities
Cod JEL: G31, H20, G10
Text complet
Paginatie: 64-67
Titlul lucrarii: MODELS OF COMPANYТS SOLVENCY ANALYSIS
Autor(i): Batrтncea Maria, Popa Anamaria, Ardelean Victor, Moscviciov Andrei,
Autor(i): Batrтncea Maria, Popa Anamaria, Ardelean Victor, Moscviciov Andrei,
Rezumat: In the paper the authors show the different models of analyzing the companyТs solvency, taking into account many ratios with different importance.
Cuvinte cheie: general stability, financial solvency, reimbursing capacity
Cod JEL: H21, G13
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Paginatie: 68-74
Titlul lucrarii: THE FINANCIAL STRUCTURE AND ITS ROLE IN THE FINANCING OF THE ENTITY
Autor(i): Batrтncea Maria, Popa Anamaria, Ardelean Victor Moscviciov Andrei
Rezumat: In the paper the authors show the importance of capital structure and the financial structure in the company financing taking into account the ownerТs capital and the borrowing capital.
Cuvinte cheie: capital structure, debts, leverage
Cod JEL: G10, G30
Text complet
Paginatie: 75-80
Titlul lucrarii: THE INTERNET AND THE CREDIT INSURANCE
Autor(i): Bente Corneliu
Rezumat: Credit insurance provides companies with coverage four outstanding commercial recivables, protecting against risk of buyer default or insolvency. In adition to managing credit risk, credit insurance supports financing needs: by reducing the risk of non-payment of trade recivables, a firm can borrow at lower interest rates.
Cuvinte cheie: e-marketplace, e-business, internet
Cod JEL: H30, G30, G20
Autor(i): Bente Corneliu
Rezumat: Credit insurance provides companies with coverage four outstanding commercial recivables, protecting against risk of buyer default or insolvency. In adition to managing credit risk, credit insurance supports financing needs: by reducing the risk of non-payment of trade recivables, a firm can borrow at lower interest rates.
Cuvinte cheie: e-marketplace, e-business, internet
Cod JEL: H30, G30, G20
Text complet
Paginatie: 81-84
Titlul lucrarii: BENEFITS OF BANCASSURANCE
Autor(i): Bente Corneliu, Ghilimei Elena
Rezumat: Banc assurance, the provision of insurance services by bank, is an established and growing channel for insurance distribution. However, banc assurance is applied heterogeneously around the world. Regulatory considerations, as well as cultural and socio-demographic factors, could explain some of this variation. Despite this heterogeneity, overall banc assurance penetration has increased in recent years, particularly in emerging markets.
Cuvinte cheie: distribution agreements, joint ventures, integrated operations
Cod JEL: H20, G20
Autor(i): Bente Corneliu, Ghilimei Elena
Rezumat: Banc assurance, the provision of insurance services by bank, is an established and growing channel for insurance distribution. However, banc assurance is applied heterogeneously around the world. Regulatory considerations, as well as cultural and socio-demographic factors, could explain some of this variation. Despite this heterogeneity, overall banc assurance penetration has increased in recent years, particularly in emerging markets.
Cuvinte cheie: distribution agreements, joint ventures, integrated operations
Cod JEL: H20, G20
Text complet
Paginatie: 85-89
Titlul lucrarii: THE FINANCING OF THE FIRM BY BONDS
Autor(i): Berceanu Dorel
Rezumat: Through this present paper there are presented a few aspects concerning one of the instruments of medium and long term debt which can be used by companies, and that is the bonds credit.
So that, after a short presentation of the framework in which this debt method can be used, there are presented the conditions that have to be fulfilled so that a company could have access on the bonds market. Then there is briefly presented a parallel between the mechanism of forming the capital through the issue of stocks and bonds. A large space is occupied by the parameters of the issue of bonds. Also, there are widely presented the elements included in the prospect of emission. After a short presentation of the conditions which have to be fulfilled in order to have access to a certain category of listing and emphasizing the six emissions of bonds quoted on the Bucharest Stock Exchange, in march 2008, finally, there are presented the advantages and disadvantages of appealing of this method of debt.
Cuvinte cheie: bonds, credit, firm, share, capital market
Cod JEL: H20, G14, G15
Autor(i): Berceanu Dorel
Rezumat: Through this present paper there are presented a few aspects concerning one of the instruments of medium and long term debt which can be used by companies, and that is the bonds credit.
So that, after a short presentation of the framework in which this debt method can be used, there are presented the conditions that have to be fulfilled so that a company could have access on the bonds market. Then there is briefly presented a parallel between the mechanism of forming the capital through the issue of stocks and bonds. A large space is occupied by the parameters of the issue of bonds. Also, there are widely presented the elements included in the prospect of emission. After a short presentation of the conditions which have to be fulfilled in order to have access to a certain category of listing and emphasizing the six emissions of bonds quoted on the Bucharest Stock Exchange, in march 2008, finally, there are presented the advantages and disadvantages of appealing of this method of debt.
Cuvinte cheie: bonds, credit, firm, share, capital market
Cod JEL: H20, G14, G15
Text complet
Paginatie: 90-96
Titlul lucrarii: FINANCING LOCAL INFRASTRUCTURE INVESTMENTS IN ROMANIA AND OTHER NEW EU MEMBER STATES
Autor(i): Bilan Irina, Rusu Elena
Rezumat: In the context of European Union integration, the effort of European Union countries is oriented on reaching the same occidental standards in local public administration. Therefore, the reforms of local public administration are concentrating on local public investments, and especially on infrastructure projects and the sources of financing them. This paper presents these sources of financing local public investments in Romania and other new EU countries from Central and Eastern Europe.
Cuvinte cheie: European Union, local infrastructure investments, budgetary revenues, EU grants, private financing
Cod JEL: G20, G30, H10
Autor(i): Bilan Irina, Rusu Elena
Rezumat: In the context of European Union integration, the effort of European Union countries is oriented on reaching the same occidental standards in local public administration. Therefore, the reforms of local public administration are concentrating on local public investments, and especially on infrastructure projects and the sources of financing them. This paper presents these sources of financing local public investments in Romania and other new EU countries from Central and Eastern Europe.
Cuvinte cheie: European Union, local infrastructure investments, budgetary revenues, EU grants, private financing
Cod JEL: G20, G30, H10
Text complet
Paginatie: 97-102
Titlul lucrarii: LABOR MARKET DEVELOPMENTS IN THE EU
Autor(i): Boglea Vanina – Adoriana
Rezumat: Abstract. Labor market performances in the region have further improved with unemployment rates reaching historically low levels and employment rates increasing. Real wage growth is slowing in most countries in the region, but remains strong especially in Latvia and Romania. Despite the wage moderation, unit labor costs continue to rise in much of the region.
Cuvinte cheie: labor market, unemployment rates, real wage growth, regional differences, educational systems.
Cod JEL: J40, J44, J60
Autor(i): Boglea Vanina – Adoriana
Rezumat: Abstract. Labor market performances in the region have further improved with unemployment rates reaching historically low levels and employment rates increasing. Real wage growth is slowing in most countries in the region, but remains strong especially in Latvia and Romania. Despite the wage moderation, unit labor costs continue to rise in much of the region.
Cuvinte cheie: labor market, unemployment rates, real wage growth, regional differences, educational systems.
Cod JEL: J40, J44, J60
Text complet
Paginatie: 103-108
Titlul lucrarii: ROAD INFRASTRUCTURE AND ITS ISSUES
Autor(i): Botezat Anca Ramona, Scheider Emilia Suzana
Rezumat: The European Union development is an irreversible and complex process which enforces the deep reorganizations, reforms, especially for the countries which want to be integrated, and for the countries that are member big expenses, but it will assure the growth of the economic and human potential of E.U. Transport is particularly important for developing links between Romania and the E.U., but he road network is one of the least developed in Europe. Two thirds of the total surface of the road infrastructure from Romania must be rehabilitated. Beside the absence of grounds, the authorities don\’t dispose of experts who are able to develop viable projects which to attract European financing. The access to the structural funds is not an easy one, because is a bureaucratic organization, and in combination with our bureaucracy has a negative result for our country.
Cuvinte cheie: road infrastructure, rehabilitation, European funds, projects
Cod JEL: L10, H10,
Autor(i): Botezat Anca Ramona, Scheider Emilia Suzana
Rezumat: The European Union development is an irreversible and complex process which enforces the deep reorganizations, reforms, especially for the countries which want to be integrated, and for the countries that are member big expenses, but it will assure the growth of the economic and human potential of E.U. Transport is particularly important for developing links between Romania and the E.U., but he road network is one of the least developed in Europe. Two thirds of the total surface of the road infrastructure from Romania must be rehabilitated. Beside the absence of grounds, the authorities don\’t dispose of experts who are able to develop viable projects which to attract European financing. The access to the structural funds is not an easy one, because is a bureaucratic organization, and in combination with our bureaucracy has a negative result for our country.
Cuvinte cheie: road infrastructure, rehabilitation, European funds, projects
Cod JEL: L10, H10,
Text complet
Paginatie: 109-114
Titlul lucrarii: ANALYSIS MODEL OF COMPANY TREASURY IN THE EUROPEAN THEORY AND PRACTICE
Autor(i): Bucataru Dumitru
Rezumat: The paper approaches the financial analysis starting from the tenet that the treasury analysis represents the pivot of financial analysis, suggesting in this way the multiple aspects of this analysis for the corporate assessment.
In this regard, some cash-flow approaches are presented which can signify different analysis models of corporate cash-flows. The author presents some models reflected in the French financial theory.
Cuvinte cheie: corporate treasury,cash-flow; French theory
Cod JEL: H21, F50, G30
Autor(i): Bucataru Dumitru
Rezumat: The paper approaches the financial analysis starting from the tenet that the treasury analysis represents the pivot of financial analysis, suggesting in this way the multiple aspects of this analysis for the corporate assessment.
In this regard, some cash-flow approaches are presented which can signify different analysis models of corporate cash-flows. The author presents some models reflected in the French financial theory.
Cuvinte cheie: corporate treasury,cash-flow; French theory
Cod JEL: H21, F50, G30
Text complet
Paginatie: 115-119
Titlul lucrarii: THE EFFICIENCY OF CAPITAL INVESTMENTS INSIDE COMPANIES
Autor(i): Burja Camelia
Rezumat: Justifying the decisions regarding the investment projects that are going to be implemented by companies is based on a series of efficiency criteria which reflect the most important aspects of the investment process tied to the obtained results in accordance with the expenses. Considering the opportunity cost of the invested capital and the timeТs influence on value, making the investment decision is not an easy task. The paper presents aspects regarding two important criteria used in substantiating the economic efficiency of the capital investments: the net adjusted present value and the internal rate of return
Cuvinte cheie: economic efficiency, capital investments, net adjusted present value, the internal rate of return, substantiating decisions
Cod JEL: G13, F30, G31
Autor(i): Burja Camelia
Rezumat: Justifying the decisions regarding the investment projects that are going to be implemented by companies is based on a series of efficiency criteria which reflect the most important aspects of the investment process tied to the obtained results in accordance with the expenses. Considering the opportunity cost of the invested capital and the timeТs influence on value, making the investment decision is not an easy task. The paper presents aspects regarding two important criteria used in substantiating the economic efficiency of the capital investments: the net adjusted present value and the internal rate of return
Cuvinte cheie: economic efficiency, capital investments, net adjusted present value, the internal rate of return, substantiating decisions
Cod JEL: G13, F30, G31
Text complet
Paginatie: 120-124
Titlul lucrarii: PRESENT DIRECTIONS IN FINANCING PUBLIC EXPENSES. CASE STUDY PITESTI MUNICIPALITY
Autor(i): Burtescu Claudia, Marcu Niculina
Rezumat: The public local incomes and expenses have suffered important changes both as a consequence of the reform of public finances, in general, and of local finances, in particular, and due to the decentralization, who has added a whole series of expenses to the local budgets.
Out of the incomes of the local budget we provide the financing of expenses for the public services in the competence of the local public administration authorities. In fact, the public expenses from the local budget consist in buying goods and services necessary to the functioning of public services and institutions, by the local authorities, a series of services provided to the community.
Cuvinte cheie: strategy, public finance, local finances,management
Cod JEL:
Autor(i): Burtescu Claudia, Marcu Niculina
Rezumat: The public local incomes and expenses have suffered important changes both as a consequence of the reform of public finances, in general, and of local finances, in particular, and due to the decentralization, who has added a whole series of expenses to the local budgets.
Out of the incomes of the local budget we provide the financing of expenses for the public services in the competence of the local public administration authorities. In fact, the public expenses from the local budget consist in buying goods and services necessary to the functioning of public services and institutions, by the local authorities, a series of services provided to the community.
Cuvinte cheie: strategy, public finance, local finances,management
Cod JEL:
Text complet
Paginatie: 125-128
Titlul lucrarii: ORIGINES ET IMPACT DE LA CRISE DES SUBPRIMES
Autor(i): Butaci Casian, Bodea Marius
Rezumat: The subprime mortgage crisis was made possible by the macroeconomical evolutions of the last years. An increase of the global liquidity, massively invested in the United States, caused a drop of the interest rates and the orienteering of the savings towards riskier investments (real estate) in search of a better return. The УsubprimesФ were encouraged to assume mortgages by the long-term trend of rising housing prices, hoping to be able to refinance at more favorable terms later. When the housing bubble burst, refinancing became more difficult and banks begun recording high default rates. The banks have used securitization to pass the risk to third-party investors and thus the crisis was transferred to the financial markets and to the global economy, notably Europe.
Cuvinte cheie: subprime, securitization, mortgage
Cod JEL: G20, G10
Autor(i): Butaci Casian, Bodea Marius
Rezumat: The subprime mortgage crisis was made possible by the macroeconomical evolutions of the last years. An increase of the global liquidity, massively invested in the United States, caused a drop of the interest rates and the orienteering of the savings towards riskier investments (real estate) in search of a better return. The УsubprimesФ were encouraged to assume mortgages by the long-term trend of rising housing prices, hoping to be able to refinance at more favorable terms later. When the housing bubble burst, refinancing became more difficult and banks begun recording high default rates. The banks have used securitization to pass the risk to third-party investors and thus the crisis was transferred to the financial markets and to the global economy, notably Europe.
Cuvinte cheie: subprime, securitization, mortgage
Cod JEL: G20, G10
Text complet
Paginatie: 129-133
Titlul lucrarii: QUELLES SONT LES DEFIES DE LA PRESSION FISCALE EN ROUMANIE? APPROCHE QUANTITATIVE DANS LA PERSPECTIVE DE LA MODELISATION ECONOMETRIQUE DES VARIABLES FONDAMENTALES DU SYSTEME FISCALE
Autor(i): Brezeanu Petre, Triandafil Cristina Maria
Rezumat: LТadoption du traite de Maastricht a determine une preoccupation aigue pour la cible de deficit budgetaire de 3%. Les finances publiques des etats membres se sont concentrees sur lТelaboration des politiques destinees a assurer un controle ferme du deficit budgetaire. La litterature de specialite inclut de nombreuses discussions contradictoires concernant les deux composants des finances publiques – budgetaire et fiscale- capables dТassurer une gestion performante du solde budgetaire. Le dilemme de la concentration soit sur lТinstrument budgetaire, soit sur lТinstrument fiscal pour toucher a la cible de deficit budgetaire a detremine lТadoptation des mesures qui ont vise soit la diminution des charges pubiques (France ou Allemagne), soit la croissance des revenus fiscaux (le cas des pays emergens est europeens).
Ce papier se propose de mettre en evidence quelles sont les variables determinantes de la pression fiscale en Roumanie, tout en se concentrant sur les deux categories de politiques. Le defi cТest de relever de la direction de determination des deux variables -charges et revenus publiques.
Cuvinte cheie: pression fiscale, politique fiscale, politique budgetaire
Cod JEL: G10, H10
Autor(i): Brezeanu Petre, Triandafil Cristina Maria
Rezumat: LТadoption du traite de Maastricht a determine une preoccupation aigue pour la cible de deficit budgetaire de 3%. Les finances publiques des etats membres se sont concentrees sur lТelaboration des politiques destinees a assurer un controle ferme du deficit budgetaire. La litterature de specialite inclut de nombreuses discussions contradictoires concernant les deux composants des finances publiques – budgetaire et fiscale- capables dТassurer une gestion performante du solde budgetaire. Le dilemme de la concentration soit sur lТinstrument budgetaire, soit sur lТinstrument fiscal pour toucher a la cible de deficit budgetaire a detremine lТadoptation des mesures qui ont vise soit la diminution des charges pubiques (France ou Allemagne), soit la croissance des revenus fiscaux (le cas des pays emergens est europeens).
Ce papier se propose de mettre en evidence quelles sont les variables determinantes de la pression fiscale en Roumanie, tout en se concentrant sur les deux categories de politiques. Le defi cТest de relever de la direction de determination des deux variables -charges et revenus publiques.
Cuvinte cheie: pression fiscale, politique fiscale, politique budgetaire
Cod JEL: G10, H10
Text complet
Paginatie: 134-141
Titlul lucrarii: CHANGES IN FISCAL REGULATIONS REGARDING THE DIRECT TAXES, APPLICABLE IN 2008
Autor(i): Brote Ioana
Rezumat: The paper aims to highlight the major changes in fiscal regulations regarding the direct taxes, applicable in 2008. We treat the main direct taxes separately:
The dividend tax regulations, regarding the application, the taxation quota, the anticipated dividend payments.
The tax on income from investments (legal aspects, taxable income from interests vs. gains from transfer of securities, reporting obligations).
The profit tax (advance payments, contracts for provision of services, taxable base of fixed assets, elimination of the declaration of payments for non-residents).
Cuvinte cheie: fiscal regulations, direct taxes, dividends, tax on income from investments, profit tax
Cod JEL: G11, H10, G20
Autor(i): Brote Ioana
Rezumat: The paper aims to highlight the major changes in fiscal regulations regarding the direct taxes, applicable in 2008. We treat the main direct taxes separately:
The dividend tax regulations, regarding the application, the taxation quota, the anticipated dividend payments.
The tax on income from investments (legal aspects, taxable income from interests vs. gains from transfer of securities, reporting obligations).
The profit tax (advance payments, contracts for provision of services, taxable base of fixed assets, elimination of the declaration of payments for non-residents).
Cuvinte cheie: fiscal regulations, direct taxes, dividends, tax on income from investments, profit tax
Cod JEL: G11, H10, G20
Text complet
Paginatie: 142-147
Titlul lucrarii: ANALYZING THE RELATIONSHIP BETWEEN PUBLIC AND EXTERNAL DEBT SUSTAINABILITY: CASE STUDY ROMANIA
Autor(i): Campeanu Emilia Mioara, Miricescu Emilian
Rezumat: The external vulnerability became an important issue as a result of recent financial crises. The debates focused on the external and public debt sustainability in order to identify the relationship between these two variables in order to investigate the degree of vulnerability of a country from the point of view of its international financial position and internal stability. So, the recent increase of external debt in Romania conduct to the necessity to analyze the debt sustainability for the external position and for the domestic debt. The aim of this paper is to investigate the relationship between public and external debt sustainability in Romania. Using monthly data from 1992 to 2007 we find evidence for weak form of Romanian debt sustainability.
Cuvinte cheie: public debt, external debt, sustainability
Cod JEL: G11, F30, G14
Autor(i): Campeanu Emilia Mioara, Miricescu Emilian
Rezumat: The external vulnerability became an important issue as a result of recent financial crises. The debates focused on the external and public debt sustainability in order to identify the relationship between these two variables in order to investigate the degree of vulnerability of a country from the point of view of its international financial position and internal stability. So, the recent increase of external debt in Romania conduct to the necessity to analyze the debt sustainability for the external position and for the domestic debt. The aim of this paper is to investigate the relationship between public and external debt sustainability in Romania. Using monthly data from 1992 to 2007 we find evidence for weak form of Romanian debt sustainability.
Cuvinte cheie: public debt, external debt, sustainability
Cod JEL: G11, F30, G14
Text complet
Paginatie: 148-153
Titlul lucrarii: INVESTIGATING THE GAP OF PUBLIC DEBT SUSTAINABILITY IN EMU MEMBER STATES
Autor(i): Campeanu Emilia Mioara, Miricescu Emilian
Rezumat: The issues of assuring public debt sustainability and the impact of tax and budgetary policies on it were the subject of numerous studies both at national and international level, with complex approaches in the specific literature. Debt sustainability is al so important because of the need to ensure long term sustainability of public finances in the context of risk factors represented by rising longevity, falling fertility rates and the retirement of the baby boom generation (European Commission, 2006). In this context we find important to investigate the sustainable gap of public debt over 1990-2005 and the public indebtedness path over 2050 in EMU member states.
Cuvinte cheie: public debt, fiscal balance, primary balance, sustainability
Cod JEL: G20, H20
Autor(i): Campeanu Emilia Mioara, Miricescu Emilian
Rezumat: The issues of assuring public debt sustainability and the impact of tax and budgetary policies on it were the subject of numerous studies both at national and international level, with complex approaches in the specific literature. Debt sustainability is al so important because of the need to ensure long term sustainability of public finances in the context of risk factors represented by rising longevity, falling fertility rates and the retirement of the baby boom generation (European Commission, 2006). In this context we find important to investigate the sustainable gap of public debt over 1990-2005 and the public indebtedness path over 2050 in EMU member states.
Cuvinte cheie: public debt, fiscal balance, primary balance, sustainability
Cod JEL: G20, H20
Text complet 24.pdf
Paginatie: 154-159
Titlul lucrarii: IS TAXATION DETERMINANT OF CAPITAL STRUCTURE? AN ANALYSIS OF THE IMPACT OF INTEREST SYSTEMS OF TAX LAWS
Autor(i): Catarama Delia, Dragota Mihaela
Rezumat: This paper is an analysis of how the companies in building and constructions use tax liabilities in order to finance their assets. We start from the assumption that tax liabilities are an important source of financing their assets and, thus, the introduction of the new mechanism of Уreverse chargeФ in the field of value added tax generated difficulties in their financing, difficulties that forced the companies to change their capital structure. Then we investigate whether or not they constituted in an interest system that determined the change of the law back to its initial state
Cuvinte cheie: taxation, interest systems, capital structure, corporate governance
Cod JEL: G15, H21, H24
Autor(i): Catarama Delia, Dragota Mihaela
Rezumat: This paper is an analysis of how the companies in building and constructions use tax liabilities in order to finance their assets. We start from the assumption that tax liabilities are an important source of financing their assets and, thus, the introduction of the new mechanism of Уreverse chargeФ in the field of value added tax generated difficulties in their financing, difficulties that forced the companies to change their capital structure. Then we investigate whether or not they constituted in an interest system that determined the change of the law back to its initial state
Cuvinte cheie: taxation, interest systems, capital structure, corporate governance
Cod JEL: G15, H21, H24
Text complet
Paginatie: 160-164
Titlul lucrarii: ANALYSE OF THE LIQUIDITY TIDE (CASH-FLOW), A MODERN FINANCIAL CONCEPT
Autor(i): Caruntu Genu Alexandru
Rezumat: For any manager, cash-flow must to represent a permanently science in order to adopt a financial strategy which can mentain the firm in dealings. If the balance sheet illustrates the company’s wealth, the profit and loss inventory account illustrates it’s the efficiency, the treasury flows demonstrate the modifications in financial situation of the firm.
Inside and outside enterprise’s medium are formed a lot of tides, but the ones expressed in currency form detain an important role and place, due the fact that is related to capital formating, increasing, and paying. An economic society could be lucrative, could achieve profit, but could not be solvent, due the liquidity’s lack, thanks to differences between incomes and payments made inside the frame of financial cycle.
Cuvinte cheie: firm’s strategy, absorb of liquidity, cashing, payments
Cod JEL: G11, H30
Autor(i): Caruntu Genu Alexandru
Rezumat: For any manager, cash-flow must to represent a permanently science in order to adopt a financial strategy which can mentain the firm in dealings. If the balance sheet illustrates the company’s wealth, the profit and loss inventory account illustrates it’s the efficiency, the treasury flows demonstrate the modifications in financial situation of the firm.
Inside and outside enterprise’s medium are formed a lot of tides, but the ones expressed in currency form detain an important role and place, due the fact that is related to capital formating, increasing, and paying. An economic society could be lucrative, could achieve profit, but could not be solvent, due the liquidity’s lack, thanks to differences between incomes and payments made inside the frame of financial cycle.
Cuvinte cheie: firm’s strategy, absorb of liquidity, cashing, payments
Cod JEL: G11, H30
Text complet
Paginatie: 165-168
Titlul lucrarii: METHODS TO DETERMINE THE ENTERPRISE’S RESULT MEASURE/SIZE
Autor(i): Caruntu Genu Alexandru
Rezumat: The enterprise’s performances measurement is related first by profit measure. From practice activity point of view, the most important calculation pattern is the accounting/book-keeping pattern, due the fact that it has an official compulsory character. On these bases, profit has become known under the name of benefit and it is determined as difference between the incomes and expenses produced by commercial activity of one economic agent.
Cuvinte cheie: self-finance, cost, efficiency, amortization
Cod JEL: H31, H32, G10
Autor(i): Caruntu Genu Alexandru
Rezumat: The enterprise’s performances measurement is related first by profit measure. From practice activity point of view, the most important calculation pattern is the accounting/book-keeping pattern, due the fact that it has an official compulsory character. On these bases, profit has become known under the name of benefit and it is determined as difference between the incomes and expenses produced by commercial activity of one economic agent.
Cuvinte cheie: self-finance, cost, efficiency, amortization
Cod JEL: H31, H32, G10
Text complet
Paginatie: 169-173
Titlul lucrarii: “THE CLUSTER”, THE WAY OF INCREASING THE COMPETITIVITY AND FINANCIAL CAPACITY OF THE ROMANIAN COMPANIES
Autor(i): Chirila Emil
Rezumat: The certification for the professional qualification of the construction companies represents an official recognition of their competency based on a scientific criteria and assurance of their specialization in different fields of activities.
Creating a certification system would put at the disposal of the investors an official list of the companies for which is operating the presumption of being capable for realizing good quality works. The presentation of a certification is being compulsory in order to participate in biddings for public works.
Adoption of an adequate legal framework in the field of professional certification combined with formation of clusters will allow enhancing of the technical and financial competitiveness of the Romanian companies.
Cuvinte cheie: clusters- free association of juridical and financial independent companies, which through conventions are establishing the conditions for participating in common at the actions of adjudicating public works
Autor(i): Chirila Emil
Rezumat: The certification for the professional qualification of the construction companies represents an official recognition of their competency based on a scientific criteria and assurance of their specialization in different fields of activities.
Creating a certification system would put at the disposal of the investors an official list of the companies for which is operating the presumption of being capable for realizing good quality works. The presentation of a certification is being compulsory in order to participate in biddings for public works.
Adoption of an adequate legal framework in the field of professional certification combined with formation of clusters will allow enhancing of the technical and financial competitiveness of the Romanian companies.
Cuvinte cheie: clusters- free association of juridical and financial independent companies, which through conventions are establishing the conditions for participating in common at the actions of adjudicating public works
Cod JEL:
Text complet
Paginatie: 174-177
Titlul lucrarii: THE STATE OF FAILURE AND ESTABLISHING THE FINANCIAL DECISION IN CASE OF BANKRUPTCY
Autor(i): Cibotariu Irina, Chirita Irina
Rezumat: The bankruptcy represents an absolutely normal market phenomenon, in our country it didn’t reached yet to be part of “game’s rule”; any investor wishes to know not only the manner of entering within a business, but also of going out of it, the business being carried out with a society which is at bankruptcy. The number of bankruptcy is an essential indicator on evaluating the functionality level of an economy. “The economists show that it is normally within a market economy with percent of 2-6% for all companies to suffer bankruptcy within a year”.
Cuvinte cheie: financial decision, judicial reorganization, the insolvency, the bankruptcy, the creditors
Cod JEL: H21, G15, G20
Autor(i): Cibotariu Irina, Chirita Irina
Rezumat: The bankruptcy represents an absolutely normal market phenomenon, in our country it didn’t reached yet to be part of “game’s rule”; any investor wishes to know not only the manner of entering within a business, but also of going out of it, the business being carried out with a society which is at bankruptcy. The number of bankruptcy is an essential indicator on evaluating the functionality level of an economy. “The economists show that it is normally within a market economy with percent of 2-6% for all companies to suffer bankruptcy within a year”.
Cuvinte cheie: financial decision, judicial reorganization, the insolvency, the bankruptcy, the creditors
Cod JEL: H21, G15, G20
Text complet
Paginatie: 178-182
Titlul lucrarii: THE EVOLUTION OF INSURANCE MARKET IN 2006
Autor(i): Clipici Emilia
Rezumat: Insurance and reinsurance act is a catalyst for economic growth. A dynamic insurance sector is at the heart of a strong economy. Which explains why the regulatory gaze is increasingly focused on our industry. Worldwide insurance premiums amounted to USD 3 723bn in 2006. This was split into USD 2 209bn in life and USD 1 514bn in non-life insurance. Total premium volume grew by 5%, in real terms,1 with life premiums increasing by 7.7% and non-life premiums by 1.5%. Profitability improved in both life and non-life insurance in 2006 compared to 2005. The macroeconomic environment during 2006 was characterised by solid economic growth and, in most geographical areas, moderate inflation, rising but still low interest rates and booming stock markets.
Cuvinte cheie: insurance, life insurance, Non-life insurance
Cod JEL: I20, H20, G22
Autor(i): Clipici Emilia
Rezumat: Insurance and reinsurance act is a catalyst for economic growth. A dynamic insurance sector is at the heart of a strong economy. Which explains why the regulatory gaze is increasingly focused on our industry. Worldwide insurance premiums amounted to USD 3 723bn in 2006. This was split into USD 2 209bn in life and USD 1 514bn in non-life insurance. Total premium volume grew by 5%, in real terms,1 with life premiums increasing by 7.7% and non-life premiums by 1.5%. Profitability improved in both life and non-life insurance in 2006 compared to 2005. The macroeconomic environment during 2006 was characterised by solid economic growth and, in most geographical areas, moderate inflation, rising but still low interest rates and booming stock markets.
Cuvinte cheie: insurance, life insurance, Non-life insurance
Cod JEL: I20, H20, G22
Text complet
Paginatie: 183-186
Titlul lucrarii: FROM CATASTROPHE RISK TO CAPITAL MARKETS. CONSIDERING THE CAT BONDS AS A SOLUTION FOR MANAGING FLOOD RISK IN ROMANIA
Autor(i): Constantin Laura Gabriela, Cernat-Gruici Bogdan
Rezumat: There is multitude of factors that must be taken into consideration when trying to determine social and economic development. In recent years, one of these factors that had a growing impact was represented by natural catastrophes. Lately floods increased in intensity, frequency and were responsible for more losses than any other natural phenomena in Romania. At international level, managing the risk of floods became a top priority for insurance companies and governments alike. There are however a series of factors which make catastrophe risk unsuitable to be covered by traditional insurance. Within this article, we try to address a more suitable approach on the matter represented by catastrophe bonds.
Cuvinte cheie: catastrophe bonds, floods risk, securitization, financial innovation, ART
Cod JEL: G15, G20, G30
Autor(i): Constantin Laura Gabriela, Cernat-Gruici Bogdan
Rezumat: There is multitude of factors that must be taken into consideration when trying to determine social and economic development. In recent years, one of these factors that had a growing impact was represented by natural catastrophes. Lately floods increased in intensity, frequency and were responsible for more losses than any other natural phenomena in Romania. At international level, managing the risk of floods became a top priority for insurance companies and governments alike. There are however a series of factors which make catastrophe risk unsuitable to be covered by traditional insurance. Within this article, we try to address a more suitable approach on the matter represented by catastrophe bonds.
Cuvinte cheie: catastrophe bonds, floods risk, securitization, financial innovation, ART
Cod JEL: G15, G20, G30
Text complet
Paginatie: 187-191
Titlul lucrarii: THE HEALTH SECTOR IN EASTERN EUROPE AND PROPOSALS FOR REFORM
Autor(i): Ciumas Cristina, Vaidean Viorela Ligia
Rezumat: This article describes the current state of the health sector in Eastern European countries. We have focused on similarities, although the health sectors, just as the political and economic systems, differ in many aspects not highlighted here. The first part of the paper presents considerations regarding the current state of the health sector, its financing, delivery, doctorsТ incomes and the widespread phenomenon of under-the-table payments. Furthermore, we have presented some guiding principles for reform in this sector, mainly focusing on the health system reform in our country.
Cuvinte cheie: health expenditure, health system financing, health system reform
Cod JEL: I10, I11
Autor(i): Ciumas Cristina, Vaidean Viorela Ligia
Rezumat: This article describes the current state of the health sector in Eastern European countries. We have focused on similarities, although the health sectors, just as the political and economic systems, differ in many aspects not highlighted here. The first part of the paper presents considerations regarding the current state of the health sector, its financing, delivery, doctorsТ incomes and the widespread phenomenon of under-the-table payments. Furthermore, we have presented some guiding principles for reform in this sector, mainly focusing on the health system reform in our country.
Cuvinte cheie: health expenditure, health system financing, health system reform
Cod JEL: I10, I11
Text complet
Paginatie: 192-197
Titlul lucrarii: A COMPARATIVE STUDY ON THE INCOME TAX FOR PHYSICAL PERSONS AND LEGAL ENTITIES
Autor(i): Cucosel Constantin
Rezumat: As per the Fiscal Code, the incomes obtained from independent activities are included in the category of incomes that are subject to the income tax. They include: trading income, income obtained from freelance activities, and income resulting from intellectual property rights, obtained individually and/or in some sort of association, including from related activities.
Cuvinte cheie: the income tax, the corporate tax, the income tax for physical persons, the income tax for micro-companies.
Cod JEL: H20, G20, G15
Autor(i): Cucosel Constantin
Rezumat: As per the Fiscal Code, the incomes obtained from independent activities are included in the category of incomes that are subject to the income tax. They include: trading income, income obtained from freelance activities, and income resulting from intellectual property rights, obtained individually and/or in some sort of association, including from related activities.
Cuvinte cheie: the income tax, the corporate tax, the income tax for physical persons, the income tax for micro-companies.
Cod JEL: H20, G20, G15
Text complet
Paginatie: 198-203
Titlul lucrarii: THE ECONOMIC AND FINANCIAL ELEMENTS USED IN ASSESSING THE COMPANY ACTIVITY
Autor(i): Cucosel Constantin
Rezumat: The financial administration can be defined as an assembly of decisions and activities for regulating and adjusting financial flows and funds, at administrating the financial resources of the enterprise. The financial administration has as its aim the regular providing of the company with funds necessary to equipment and current exploitation, but also to control the good use of funds and profitability of the targeted operations. The financial administration has multiple aims subordinated to survival, to obtaining profit and economic growth of the company
Cuvinte cheie: the economic elements, the financial elements, the financial resources, the enterprise
Cod JEL: H30, G15
Autor(i): Cucosel Constantin
Rezumat: The financial administration can be defined as an assembly of decisions and activities for regulating and adjusting financial flows and funds, at administrating the financial resources of the enterprise. The financial administration has as its aim the regular providing of the company with funds necessary to equipment and current exploitation, but also to control the good use of funds and profitability of the targeted operations. The financial administration has multiple aims subordinated to survival, to obtaining profit and economic growth of the company
Cuvinte cheie: the economic elements, the financial elements, the financial resources, the enterprise
Cod JEL: H30, G15
Text complet
Paginatie: 204-209
Titlul lucrarii: AN ANALYSIS OF EQUITY IN INSURANCE. THE MATHEMATICAL APROACH OF RISK OF RUIN FOR INSURES
Autor(i): Iulian Mircea, Paul Tanasescu
Rezumat: The goal of the present paper is a short analysis for the insurersТ foreign equity in Romania and the development of a mathematical approach for the chronological evolution of the study regarding the insurersТ equity from the point of view of assessing the insolvency probabilities and the risk provision so the estimating insolvency risk will not over overcome an accepted value.
Cuvinte cheie: Insurer, broker, adjusting coefficient, overcharging factor, probability of ruin, compound Poisson repartition.
Cod JEL:
Autor(i): Iulian Mircea, Paul Tanasescu
Rezumat: The goal of the present paper is a short analysis for the insurersТ foreign equity in Romania and the development of a mathematical approach for the chronological evolution of the study regarding the insurersТ equity from the point of view of assessing the insolvency probabilities and the risk provision so the estimating insolvency risk will not over overcome an accepted value.
Cuvinte cheie: Insurer, broker, adjusting coefficient, overcharging factor, probability of ruin, compound Poisson repartition.
Cod JEL:
Text complet
Paginatie: 210-214
Titlul lucrarii: THE INFLUENCE OF TAXES ON FINANCIAL EQUILIBRIUM
Autor(i): Csegedi Sandor, Pop Teodor
Rezumat: In this paper, the authors present the method of evaluating the effect of taxation on the financial equilibrium of the company.
Cuvinte cheie: working capital, working capital requirement, net treasury, net standing.
Cod JEL: H20, G10, G30
Autor(i): Csegedi Sandor, Pop Teodor
Rezumat: In this paper, the authors present the method of evaluating the effect of taxation on the financial equilibrium of the company.
Cuvinte cheie: working capital, working capital requirement, net treasury, net standing.
Cod JEL: H20, G10, G30
Text complet
Paginatie: 215-221
Titlul lucrarii: THE PREREQUISITES OF PUBLIC SECTOR PERFORMANCE:
GOVERNANCE AND EFFECTIVENESS
Autor(i): Donath Liliana, Milos Marius
Rezumat: In modern economies, the public authority entrusted to manage the public affairs of the community is the state. In fulfilling their objectives the public decision makers assume a number of tasks according to the doctrines embraced by the government. The government results as an outcome of the election process and thus, faithful to its own doctrine is more or less invasive in the economy provides more or less protection and public goods therefore increasing or decreasing its spending according to its needs. The final outcome pursued by the state is the welfare of its citizens. Eventually, the way this goal is achieved as well as the perception the society has regarding the way the state performs is a matter of choice the state makes in order to fulfill its tasks. Traditionally, the main roles assumed by the state are: the distributive role, the regulation role, the stabilising and the assurance role.
Cuvinte cheie: public sector, governance, public spending, performance
Cod JEL: G28, G32, H20
GOVERNANCE AND EFFECTIVENESS
Autor(i): Donath Liliana, Milos Marius
Rezumat: In modern economies, the public authority entrusted to manage the public affairs of the community is the state. In fulfilling their objectives the public decision makers assume a number of tasks according to the doctrines embraced by the government. The government results as an outcome of the election process and thus, faithful to its own doctrine is more or less invasive in the economy provides more or less protection and public goods therefore increasing or decreasing its spending according to its needs. The final outcome pursued by the state is the welfare of its citizens. Eventually, the way this goal is achieved as well as the perception the society has regarding the way the state performs is a matter of choice the state makes in order to fulfill its tasks. Traditionally, the main roles assumed by the state are: the distributive role, the regulation role, the stabilising and the assurance role.
Cuvinte cheie: public sector, governance, public spending, performance
Cod JEL: G28, G32, H20
Text complet
Paginatie: 222-227
Titlul lucrarii: IMF AND INTERNATIONAL FINANCIAL ARCHITECTURE REFORM PROPOSALS
Autor(i): Duca Ioana, Gherghina Rodica
Rezumat: During the past few decades, the radical changes that have occurred in the global economy – uncontrolled inflation rhythms, the growth in interest rates, the increase in foreign debts and in budget and current account deficits, financial crises – have led to the accumulation of a set of issues whose solution generates heated debates at international level and tensions among the global actors. Therefore, it is necessary to make a concerted effort at world level to rethink the International Financial Architecture, especially that of the International Monetary Fund (IMF), by adopting adequate legislative and institutional regulations.
Cuvinte cheie: International Financial Architecture, gradual reform, radical reform, the International Monetary Fund
Cod JEL: G18, Q10
Autor(i): Duca Ioana, Gherghina Rodica
Rezumat: During the past few decades, the radical changes that have occurred in the global economy – uncontrolled inflation rhythms, the growth in interest rates, the increase in foreign debts and in budget and current account deficits, financial crises – have led to the accumulation of a set of issues whose solution generates heated debates at international level and tensions among the global actors. Therefore, it is necessary to make a concerted effort at world level to rethink the International Financial Architecture, especially that of the International Monetary Fund (IMF), by adopting adequate legislative and institutional regulations.
Cuvinte cheie: International Financial Architecture, gradual reform, radical reform, the International Monetary Fund
Cod JEL: G18, Q10
Text complet
Paginatie: 228-232
Titlul lucrarii: STRUCTURAL ADJUSTMENT ON THE ROMANIAN STOCK MARKET PURSUING EUROPEAN INTEGRATION
Autor(i): Duhnea Cristina
Rezumat: The paper reviews the stages of the Romanian stock marketТs establishment and development, and later of structural change in pursuit of a level harmonization with European legislation and institutions that would allow its integration into a mature market. While not perfect, the structural adjustments were successfully finalized when Romania entered the EU, providing compatibility between the Romanian and European institutions.
Cuvinte cheie: financial integration, capital market, structural adjustment, regulation, institutions
Cod JEL: G14, G20, H21
Autor(i): Duhnea Cristina
Rezumat: The paper reviews the stages of the Romanian stock marketТs establishment and development, and later of structural change in pursuit of a level harmonization with European legislation and institutions that would allow its integration into a mature market. While not perfect, the structural adjustments were successfully finalized when Romania entered the EU, providing compatibility between the Romanian and European institutions.
Cuvinte cheie: financial integration, capital market, structural adjustment, regulation, institutions
Cod JEL: G14, G20, H21
Text complet
Paginatie: 233-236
Titlul lucrarii: ARE ABLE THE MEMBER STATES TO PROMOTE THE EUROPEAN FISCAL CO-ORDINATION WITHIN THE EUROPEAN UNION? THE BACKGROUND OF THE TAX STRUCTURES
Autor(i): Dracea Raluca, Domnisoru Sorin, Cristea Mirela
Rezumat: In planning of this paper we have started from the question whether those 27 states belonging to the European Union are able to promote, due to their fiscal systems, the fiscal co-ordination within the European Union or to accept the fiscal systems, consequently. In this way, the paper provides a breakdown of taxes according to different classifications: by types of taxes (direct taxes, indirect taxes, social contributions) and by levels of government. The breakdown of tax revenue data computed in percentage of GDP provides indicators of the tax burden and of the structure of taxation in the different Member States, as well as developments over time. As the interpretation of the tax-to-GDP ratio as an indicator for the tax burden requires additional information, an economic classification of taxes has been developed and implicit tax rates have been computed for the economic categories identified.
Cuvinte cheie: tax systems, new member states, old member states, differences in tax system
Cod JEL: G38, G15
Autor(i): Dracea Raluca, Domnisoru Sorin, Cristea Mirela
Rezumat: In planning of this paper we have started from the question whether those 27 states belonging to the European Union are able to promote, due to their fiscal systems, the fiscal co-ordination within the European Union or to accept the fiscal systems, consequently. In this way, the paper provides a breakdown of taxes according to different classifications: by types of taxes (direct taxes, indirect taxes, social contributions) and by levels of government. The breakdown of tax revenue data computed in percentage of GDP provides indicators of the tax burden and of the structure of taxation in the different Member States, as well as developments over time. As the interpretation of the tax-to-GDP ratio as an indicator for the tax burden requires additional information, an economic classification of taxes has been developed and implicit tax rates have been computed for the economic categories identified.
Cuvinte cheie: tax systems, new member states, old member states, differences in tax system
Cod JEL: G38, G15
Text complet
Paginatie: 237-241
Titlul lucrarii: THE ROLE OF INVESTMENTS IN THE METROPOLITAN DEVELOPMENT OF PITESTI MUNICIPALITY
Autor(i): Sebastian Ene, Ioneci Mihaela
Rezumat: The metropolitan development represents a present issue in Romanian local communities. RomaniaТs 1st January 2007 integration imposes a new model of economic and social development at the level of the local community. Sustainable development gets new connotations, the role of investments and community policies become the main pillars in achieving local strategic objectives.
Pitesti, a city that intends to launch a new type of development, initiated a series of activities and investments meant to contribute decisively to the accomplishment of all its goals.
Cuvinte cheie: social development, sustainable development, investments, development, minimax principle.
Cod JEL: G24, G11
Autor(i): Sebastian Ene, Ioneci Mihaela
Rezumat: The metropolitan development represents a present issue in Romanian local communities. RomaniaТs 1st January 2007 integration imposes a new model of economic and social development at the level of the local community. Sustainable development gets new connotations, the role of investments and community policies become the main pillars in achieving local strategic objectives.
Pitesti, a city that intends to launch a new type of development, initiated a series of activities and investments meant to contribute decisively to the accomplishment of all its goals.
Cuvinte cheie: social development, sustainable development, investments, development, minimax principle.
Cod JEL: G24, G11
Text complet
Paginatie: 242-246
Titlul lucrarii: INDICATORS OF ROMANIAN MUTUAL FUNDS PERFORMANCE
Autor(i): Filip Angela Maria, Beju Daniela Georgeta
Rezumat: The Romanian capital market seems to continue a positive process of convergence to other European markets in terms of market indicators and market infrastructure as it benefits from harmonized regulation to best standards and practices, which stimulate growth. Mutual funds represent a very strong investment vehicle by offering investors access to the stock-exchange growth and the monetary market with less effort, money and risks than the direct investment. These investment vehicles raise a great number of questions, most of them related to their performance evaluation. The main question is whether actively managed mutual funds managers are able to add value for their investors. We will analyse in this paper Romanian mutual funds performance indicators and their evolution during the last years. Romanian mutual funds industry is poorly developed, mutual funds assets detaining an insignificant percent in the GDP
Cuvinte cheie: active management, mutual fund, performance evaluation, performance indicators
Cod JEL: G15, G20, G38
Autor(i): Filip Angela Maria, Beju Daniela Georgeta
Rezumat: The Romanian capital market seems to continue a positive process of convergence to other European markets in terms of market indicators and market infrastructure as it benefits from harmonized regulation to best standards and practices, which stimulate growth. Mutual funds represent a very strong investment vehicle by offering investors access to the stock-exchange growth and the monetary market with less effort, money and risks than the direct investment. These investment vehicles raise a great number of questions, most of them related to their performance evaluation. The main question is whether actively managed mutual funds managers are able to add value for their investors. We will analyse in this paper Romanian mutual funds performance indicators and their evolution during the last years. Romanian mutual funds industry is poorly developed, mutual funds assets detaining an insignificant percent in the GDP
Cuvinte cheie: active management, mutual fund, performance evaluation, performance indicators
Cod JEL: G15, G20, G38
Text complet
Paginatie: 247-252
Titlul lucrarii: THE PROBLEMATIC OF REAL VALUE ESTABLISHMENT FOR PROPERTY INSURANCE
Autor(i): Gavriletea Marius, Baiescu Alin
Rezumat: The practice of insurance is permanently confronting with a delicate problem related to the real value of property insurance. In this paper we will analyze thecorrelations between real value, insured sum and market value for motorsТ insurance, homeownersТ insurance and insurance for stock of goods. The sum insured may genereate an adequate value for the insured object, or a subinsurance, and this fact will be put into evidence through compensation principles.also, we will present practical and technical situations in order to maintain the insured sum at the real value level, and this autimatically will generate a full compensation of any loss.
Cuvinte cheie: Insurance, Real Value, Sum Insured, Compensation Principles
Cod JEL: G22, G10, G20
Autor(i): Gavriletea Marius, Baiescu Alin
Rezumat: The practice of insurance is permanently confronting with a delicate problem related to the real value of property insurance. In this paper we will analyze thecorrelations between real value, insured sum and market value for motorsТ insurance, homeownersТ insurance and insurance for stock of goods. The sum insured may genereate an adequate value for the insured object, or a subinsurance, and this fact will be put into evidence through compensation principles.also, we will present practical and technical situations in order to maintain the insured sum at the real value level, and this autimatically will generate a full compensation of any loss.
Cuvinte cheie: Insurance, Real Value, Sum Insured, Compensation Principles
Cod JEL: G22, G10, G20
Text complet
Paginatie: 253-258
Titlul lucrarii: LOCAL BUDGETSТ OWN REVENUES IN ROMANIA
Autor(i): Gyorgy Attila
Rezumat: Local own revenues represents a very important financial issue for every local community because their dimension assure the prosperity of the municipality. The decentralization process determined a rise of own revenue number, giving the possibility to local authorities to finance more objectives in their community.
The main local own revenues are presented and analyzed in this paper, emphasizing their role in the local budgetary process. The three categories in which local own revenues were divided are: local taxes and fees, rates from income tax and other local own revenues.
Cuvinte cheie: own revenues, local budgets, taxes, fees
Cod JEL: H10, G20
Autor(i): Gyorgy Attila
Rezumat: Local own revenues represents a very important financial issue for every local community because their dimension assure the prosperity of the municipality. The decentralization process determined a rise of own revenue number, giving the possibility to local authorities to finance more objectives in their community.
The main local own revenues are presented and analyzed in this paper, emphasizing their role in the local budgetary process. The three categories in which local own revenues were divided are: local taxes and fees, rates from income tax and other local own revenues.
Cuvinte cheie: own revenues, local budgets, taxes, fees
Cod JEL: H10, G20
Text complet
Paginatie: 259-262
Titlul lucrarii: THE IMPACT OF STATE AID ON PUBLIC DEFICIT
Autor(i): Gyorgy Attila, Gyorgy Adina Cristina
Rezumat: The present paper comprises relevant aspects regarding the state aid and budgetary policy. The aim of the study is to examine to what extent state aid measures that distort competition can affect the budgetary deficit. In order to highlight the relation between the two indicators, we will focus on the following elements that will be developed separately:
1. State aid: concept, types of measures, policy developments;
2. General consolidated budgetary deficit;
3. Correlation between state aid and budgetary deficit in Romania and European Union.
Cuvinte cheie: state aid, public deficit, public budgets
Cod JEL: G18, G28, H10
Autor(i): Gyorgy Attila, Gyorgy Adina Cristina
Rezumat: The present paper comprises relevant aspects regarding the state aid and budgetary policy. The aim of the study is to examine to what extent state aid measures that distort competition can affect the budgetary deficit. In order to highlight the relation between the two indicators, we will focus on the following elements that will be developed separately:
1. State aid: concept, types of measures, policy developments;
2. General consolidated budgetary deficit;
3. Correlation between state aid and budgetary deficit in Romania and European Union.
Cuvinte cheie: state aid, public deficit, public budgets
Cod JEL: G18, G28, H10
Text complet
Paginatie: 263-265
Titlul lucrarii: BUCHAREST STOCK EXCHANGE EVOLUTION AND PERSPECTIVE
Autor(i): Grecu Eugenia
Rezumat: Bucharest Stock Exchange (BSE) registers important achievements regarding the organization and regularization, but also a dissatisfactory level of the activity indicators (stock indicators, transitioning volume, number and structure of the issuers).
Cuvinte cheie: capital, market, stocks, development, perspectives
Cod JEL: G15, F50, G20
Autor(i): Grecu Eugenia
Rezumat: Bucharest Stock Exchange (BSE) registers important achievements regarding the organization and regularization, but also a dissatisfactory level of the activity indicators (stock indicators, transitioning volume, number and structure of the issuers).
Cuvinte cheie: capital, market, stocks, development, perspectives
Cod JEL: G15, F50, G20
Text complet
Paginatie: 266-270
Titlul lucrarii: THE INTEREST FOR THE MUNICIPAL BONDS
Autor(i): Grecu Eugenia
Rezumat: Abstract: The emissions of municipal bonds are a pretty recent apparition in the evolution of the Romanian capital market. The reduced level of the local administrations available funds and the impossibility to increase the local taxes so as to get higher incomes cashed by the local budgets, impose the finding of some alternative financing sources to sustain the local investment programs.
Cuvinte cheie: bonds, investments, advantage, lower risk
Cod JEL: G11, G23
Autor(i): Grecu Eugenia
Rezumat: Abstract: The emissions of municipal bonds are a pretty recent apparition in the evolution of the Romanian capital market. The reduced level of the local administrations available funds and the impossibility to increase the local taxes so as to get higher incomes cashed by the local budgets, impose the finding of some alternative financing sources to sustain the local investment programs.
Cuvinte cheie: bonds, investments, advantage, lower risk
Cod JEL: G11, G23
Text complet
Paginatie: 271-274
Titlul lucrarii: FISCAL EQUALISATION SYSTEM IN ROMANIA
Autor(i): Grigore Gheorghe
Rezumat: After 1990s, the countries in transition have been in a process of finding their own path for public sector democratization and construction of a sound public finance management system. This paper aims to provide an overview of the system of fiscal equalization transfers in Romania starting from the first major step of decentralization taken after the fall of the communist period and the subsequent modifications for adapting to the new environmental conditions imposed especially by the European Union perspective. Therefore, in the first section of the paper I will provide a conceptual framework addressing fiscal equalization, in the second part I will approach the intergovernmental transfers and the design of the equalization transfer process while in the third section, I will present an overview of the system and its evolution in the post-communist period and the last section will provide the concluding remarks on fiscal equalization.
Cuvinte cheie: decentralisation, fiscal equalization, intergovernmental transfers
Cod JEL: G38, H10, G15
Autor(i): Grigore Gheorghe
Rezumat: After 1990s, the countries in transition have been in a process of finding their own path for public sector democratization and construction of a sound public finance management system. This paper aims to provide an overview of the system of fiscal equalization transfers in Romania starting from the first major step of decentralization taken after the fall of the communist period and the subsequent modifications for adapting to the new environmental conditions imposed especially by the European Union perspective. Therefore, in the first section of the paper I will provide a conceptual framework addressing fiscal equalization, in the second part I will approach the intergovernmental transfers and the design of the equalization transfer process while in the third section, I will present an overview of the system and its evolution in the post-communist period and the last section will provide the concluding remarks on fiscal equalization.
Cuvinte cheie: decentralisation, fiscal equalization, intergovernmental transfers
Cod JEL: G38, H10, G15
Text complet
Paginatie: 275-280
Titlul lucrarii: ON DETERMINING THE FINANCIAL STRUCTURE OF A TRADING COMPANY BASED ON ITS YEARLY FINANCIAL STATEMENTS
Autor(i): Hada Teodor
Rezumat: The present article addresses the following concepts: financial structure, financing structure, capital structure and the connection between all the three. Methodological aspects are addressed regarding advance expenditure, advance incomes, provisions included in the accounts balance as capital resources, long-term and short-term debts.
Based on a case study, a number of twenty-eight ratios are determined which will support the evaluation of the enterprise structure.
Cuvinte cheie: Structure, ratio, provisions, equities, permanent capitals, assets, liabilities
Cod JEL: F30, F10, G15
Autor(i): Hada Teodor
Rezumat: The present article addresses the following concepts: financial structure, financing structure, capital structure and the connection between all the three. Methodological aspects are addressed regarding advance expenditure, advance incomes, provisions included in the accounts balance as capital resources, long-term and short-term debts.
Based on a case study, a number of twenty-eight ratios are determined which will support the evaluation of the enterprise structure.
Cuvinte cheie: Structure, ratio, provisions, equities, permanent capitals, assets, liabilities
Cod JEL: F30, F10, G15
Text complet
Paginatie: 281-285
Titlul lucrarii: FINANCIAL ANALYSIS OF POLLUTION PREVENTION ACTIVITY
Autor(i): Horhota Luminita
Rezumat: The concept of pollution prevention, or УP2,Ф is emblematic of a new, proactive environmental mindset that promises more sustainable industrial management. By targeting the causes, rather than the consequences, of polluting activity, P2 seeks to eliminate pollutants at their source and thereby avoid the need to treat or dispose of those pollutants later. The P2 concept has given rise to talk of win-win opportunities in which innovation and new ways of thinking will lead to waste reduction and, at the same time, make firms money by reducing costs or stimulating new products. Unfortunately, the vision of pollution prevention as a set of win-win opportunities is somewhat at odds with actual corporate experience. While anecdotal evidence from a number of studies suggests that such opportunities exist and that many firms have pursued them, proponents say the pace of P2 is too slow and that the private sector is somehow failing to see opportunities in front of it.
Cuvinte cheie: pollution prevention, reducing costs, profit, ecoprofit
Cod JEL: J10, J20, J30
Autor(i): Horhota Luminita
Rezumat: The concept of pollution prevention, or УP2,Ф is emblematic of a new, proactive environmental mindset that promises more sustainable industrial management. By targeting the causes, rather than the consequences, of polluting activity, P2 seeks to eliminate pollutants at their source and thereby avoid the need to treat or dispose of those pollutants later. The P2 concept has given rise to talk of win-win opportunities in which innovation and new ways of thinking will lead to waste reduction and, at the same time, make firms money by reducing costs or stimulating new products. Unfortunately, the vision of pollution prevention as a set of win-win opportunities is somewhat at odds with actual corporate experience. While anecdotal evidence from a number of studies suggests that such opportunities exist and that many firms have pursued them, proponents say the pace of P2 is too slow and that the private sector is somehow failing to see opportunities in front of it.
Cuvinte cheie: pollution prevention, reducing costs, profit, ecoprofit
Cod JEL: J10, J20, J30
Text complet
Paginatie: 286-288
Titlul lucrarii: A CLUSTER ANALYSIS OF FINANCIAL PERFORMANCE IN CENTRAL AND EASTERN EUROPE
Autor(i): Horobet Alexandra, Joldes Cosmin, Dumitrescu Dan Gabriel
Rezumat: The paper studies the pattern of financial performance for listed companies originating from different industries – financial intermediation, beverage and food industry, energy, pharmaceuticals and chemicals – in four Central and Eastern European countries – Czech Republic, Hungary, Poland and Romania over a four year period (2003-2006). The financial performance is addressed by taking into account companiesТ return on assets (ROA) and return on equity (ROE). The research methodology consists of hierarchical and k-means clustering amalgamation techniques, in order to distinguish between naturally occurring similar groups that are statistically significant in terms of industry and/or national influences. Our analysis encompasses a dynamic approach, as it refers to changes in clusters’ structure in time and searches for possible explanations of corporate financial performance in this region.
Cuvinte cheie: financial performance, cluster, profitability, Central and Eastern Europe
Cod JEL: F50, F30, G14
Autor(i): Horobet Alexandra, Joldes Cosmin, Dumitrescu Dan Gabriel
Rezumat: The paper studies the pattern of financial performance for listed companies originating from different industries – financial intermediation, beverage and food industry, energy, pharmaceuticals and chemicals – in four Central and Eastern European countries – Czech Republic, Hungary, Poland and Romania over a four year period (2003-2006). The financial performance is addressed by taking into account companiesТ return on assets (ROA) and return on equity (ROE). The research methodology consists of hierarchical and k-means clustering amalgamation techniques, in order to distinguish between naturally occurring similar groups that are statistically significant in terms of industry and/or national influences. Our analysis encompasses a dynamic approach, as it refers to changes in clusters’ structure in time and searches for possible explanations of corporate financial performance in this region.
Cuvinte cheie: financial performance, cluster, profitability, Central and Eastern Europe
Cod JEL: F50, F30, G14
Text complet
Paginatie: 289-294
Titlul lucrarii: TENDENCIES OF DIRECT TAXING OF EUROPEAN UNION CORPORATION
Autor(i): Ispas Roxana
Rezumat: The hypothesis of fiscal competition that generates an alignment УlowerФ than the imposed level only partially verified empirically, that is for nominal rates, and almost none for effective rates. Also, the impact upon the budgetary incomes canТt be made visible. That being said, there are opinions considering that the stout of budgetary money from the companies tax income canТt continue on undetermined term. That is because the УspaceФ left for continuous reduction of the imposing rates is still vast while the continuing extending reserves of the legal imposing base have almost exhausted and the companiesТ rewards canТt improve for ever.
Cuvinte cheie: taxing, taxing rates, imposing bases, budgetary incomes, corporation, European Union
Cod JEL: H20, H21, G15
Autor(i): Ispas Roxana
Rezumat: The hypothesis of fiscal competition that generates an alignment УlowerФ than the imposed level only partially verified empirically, that is for nominal rates, and almost none for effective rates. Also, the impact upon the budgetary incomes canТt be made visible. That being said, there are opinions considering that the stout of budgetary money from the companies tax income canТt continue on undetermined term. That is because the УspaceФ left for continuous reduction of the imposing rates is still vast while the continuing extending reserves of the legal imposing base have almost exhausted and the companiesТ rewards canТt improve for ever.
Cuvinte cheie: taxing, taxing rates, imposing bases, budgetary incomes, corporation, European Union
Cod JEL: H20, H21, G15
Text complet
Paginatie: 295-303
Titlul lucrarii: FOREIGN DIRECT INVESTMENTS AND THE KNOWLEDGE SOCIETY IN THE CEE COUNTRIES
Autor(i): Ivan Mihail Vincentiu, Iacovoiu Viorela
Rezumat: The foreign direct investments play an active role in transforming the Central and East European economies aiming at the construction of the knowledge-based society, by the development of some research-development activities with innovating character.
Generally, it has been noticed a more powerful impact either in the countries that have received massive foreign direct investments, namely the Czech Republic, Hungary and Estonia, or in countries in which the quality of the attracted foreign capital has completed, at a certain moment, their quantity (as for example Slovenia).
In this paper we are going to approach the relation between foreign direct investment (FDI) inflows and knowledge society building in an explicit manner, analysing the empirical data for the Central and Estearn European (CEE) countries, new members of European Union.
Cuvinte cheie: foreign direct investments, knowledge-based society, innovation activities, research, development
Cod JEL: G15, G31, H10
Autor(i): Ivan Mihail Vincentiu, Iacovoiu Viorela
Rezumat: The foreign direct investments play an active role in transforming the Central and East European economies aiming at the construction of the knowledge-based society, by the development of some research-development activities with innovating character.
Generally, it has been noticed a more powerful impact either in the countries that have received massive foreign direct investments, namely the Czech Republic, Hungary and Estonia, or in countries in which the quality of the attracted foreign capital has completed, at a certain moment, their quantity (as for example Slovenia).
In this paper we are going to approach the relation between foreign direct investment (FDI) inflows and knowledge society building in an explicit manner, analysing the empirical data for the Central and Estearn European (CEE) countries, new members of European Union.
Cuvinte cheie: foreign direct investments, knowledge-based society, innovation activities, research, development
Cod JEL: G15, G31, H10
Text complet
Paginatie: 304-308
Titlul lucrarii: SMALL AND MEDIUM BUSINESSES FACING FISCAL COMPETITION
Autor(i): Lazar Paula, Vuta Mariana, Filipescu Maria Oana
Rezumat: Globalisation is not a new phenomenon but it had opened up the national economies and created the global marke, where capital and labour can move freely. Combine with the fiscal competition phenomenon it influences the evolution of the national and international businesses environment.
The authors are trying to underline, in this paper, the connections between globalisation, fiscal competition and the small and medium businesses sector because these businesses are the most affected busineses by the fiscal policies decisions, that are subjet to the globalisation phenomenon and the fight against the negative effects of the fiscal competition phenomenon.
Cuvinte cheie: globalisation, fiscal competition, small and medium businesses sector,economic growth,tax hevean
Cod JEL: H32, G32, F30
Autor(i): Lazar Paula, Vuta Mariana, Filipescu Maria Oana
Rezumat: Globalisation is not a new phenomenon but it had opened up the national economies and created the global marke, where capital and labour can move freely. Combine with the fiscal competition phenomenon it influences the evolution of the national and international businesses environment.
The authors are trying to underline, in this paper, the connections between globalisation, fiscal competition and the small and medium businesses sector because these businesses are the most affected busineses by the fiscal policies decisions, that are subjet to the globalisation phenomenon and the fight against the negative effects of the fiscal competition phenomenon.
Cuvinte cheie: globalisation, fiscal competition, small and medium businesses sector,economic growth,tax hevean
Cod JEL: H32, G32, F30
Text complet
Paginatie: 309-314
Titlul lucrarii: VEHICLES TAXATION IN ROMANIA: A COMPARATIVE APPROACH
Autor(i): Lazar Sebastian
Rezumat: The taxes on vehicles are a very controversial issue nowadays, especially in Romania. The actual registration tax was much contested and, as a result, new projects were proposed by government authorities. The present paper makes a comparative analysis of the three versions, trying to see if the new versions are within the European Union requirements and to make some recommendations in order to improve the actual assessment of the tax.
Cuvinte cheie: vehicles taxation, comparative analyses, progressivity of taxation, solutions for improvement
Cod JEL: H21, H26, F10
Autor(i): Lazar Sebastian
Rezumat: The taxes on vehicles are a very controversial issue nowadays, especially in Romania. The actual registration tax was much contested and, as a result, new projects were proposed by government authorities. The present paper makes a comparative analysis of the three versions, trying to see if the new versions are within the European Union requirements and to make some recommendations in order to improve the actual assessment of the tax.
Cuvinte cheie: vehicles taxation, comparative analyses, progressivity of taxation, solutions for improvement
Cod JEL: H21, H26, F10
Text complet
Paginatie: 315-320
Titlul lucrarii: FINANCING, INNOVATION AND KNOWLEDGE MANAGEMENT DEFINING ELEMENTS FOR BUSINESS INCUBATORS
Autor(i): Lupasc Ioana, Nicolai Maria
Rezumat: Having in view the importance of creativity, innovation, financing and knowledge management in the entrepreneurial activities, this paper is focused on underlining some aspects regarding the structure of the creative and innovative approach and the business incubators which are the best background to activate creativity and innovation. Because many business incubators stopped their activity, we try to find solutions for them.
We present knowledge management as a new type of management for incubators, innovation indicators and the modern innovative structures which are the optimum background to apply knowledge-based strategies.
Cuvinte cheie: Innovation, SME (small and medium enterprises), Business incubators, Knowledge management, Financing, Indicators
Cod JEL: H20, H32, G15
Autor(i): Lupasc Ioana, Nicolai Maria
Rezumat: Having in view the importance of creativity, innovation, financing and knowledge management in the entrepreneurial activities, this paper is focused on underlining some aspects regarding the structure of the creative and innovative approach and the business incubators which are the best background to activate creativity and innovation. Because many business incubators stopped their activity, we try to find solutions for them.
We present knowledge management as a new type of management for incubators, innovation indicators and the modern innovative structures which are the optimum background to apply knowledge-based strategies.
Cuvinte cheie: Innovation, SME (small and medium enterprises), Business incubators, Knowledge management, Financing, Indicators
Cod JEL: H20, H32, G15
Text complet
Paginatie: 321-325
Titlul lucrarii: STRUCTURAL MUTATIONS INTERVENED IN THE SOCIAL INSURANCE SYSTEMS
Autor(i): Major Dan-Eugen
Rezumat: Social insurance doesnТt stand much chance of survival to the wave of globalization. Principles, such as inter- and intergenerational solidarity or the redistribution of the national wealth are gradually replaced by completely different or even opposite ones, such as individualism and capitalism, which are closer to the mercantile spirit of the globalization movement. The principle of solidarity is dangerous to the promotors of globalization because it creates a sense of unity and empathy between people and this diminishes the effect of the Уdivide et imperaФ policy which needs to be applied even on the individual level. Actually we are witnessing a process of atomization of the society by the autization of the individuals. We can say that one of the tendencies of todayТs world manifesting itself in a striking manner in the social domain is represented by the convergence of social systems towards the North-Western social model which, in the absence of a credible alternative, expands rapidly to a planetary level.
Cuvinte cheie: social insurance, globalization, pensions
Cod JEL: G23, G22, F30
Autor(i): Major Dan-Eugen
Rezumat: Social insurance doesnТt stand much chance of survival to the wave of globalization. Principles, such as inter- and intergenerational solidarity or the redistribution of the national wealth are gradually replaced by completely different or even opposite ones, such as individualism and capitalism, which are closer to the mercantile spirit of the globalization movement. The principle of solidarity is dangerous to the promotors of globalization because it creates a sense of unity and empathy between people and this diminishes the effect of the Уdivide et imperaФ policy which needs to be applied even on the individual level. Actually we are witnessing a process of atomization of the society by the autization of the individuals. We can say that one of the tendencies of todayТs world manifesting itself in a striking manner in the social domain is represented by the convergence of social systems towards the North-Western social model which, in the absence of a credible alternative, expands rapidly to a planetary level.
Cuvinte cheie: social insurance, globalization, pensions
Cod JEL: G23, G22, F30
Text complet
Paginatie: 326-332
Titlul lucrarii: THE MAIN COORDINATES OF THE FISCAL AND BUDGETARY ROMANIAN POLICIES: PRESENT CHALLENGES
Autor(i): Marcu Nicu
Rezumat: The fiscal and budgetary construction developed at national level is focused on the maintenance of the macroeconomic stability process in order to achieve the nominal and real convergence criteria concerning the membership of the Romanian economy to the European Union integrated monetary space. The orientation of the fiscal and budgetary national policies is subdue to some major constraints regarding their capacity of ensuring the external sustenance, of developing the non-inflation process, of forming and consolidating the financing resources necessary to the accomplishment of the post-adhesion engagements assumed by Romania as a member state of the European Union.
Cuvinte cheie: fiscal policy, fiscal administration, budgetary policy, nominal and real convergence
Cod JEL: G28, F30, H10
Autor(i): Marcu Nicu
Rezumat: The fiscal and budgetary construction developed at national level is focused on the maintenance of the macroeconomic stability process in order to achieve the nominal and real convergence criteria concerning the membership of the Romanian economy to the European Union integrated monetary space. The orientation of the fiscal and budgetary national policies is subdue to some major constraints regarding their capacity of ensuring the external sustenance, of developing the non-inflation process, of forming and consolidating the financing resources necessary to the accomplishment of the post-adhesion engagements assumed by Romania as a member state of the European Union.
Cuvinte cheie: fiscal policy, fiscal administration, budgetary policy, nominal and real convergence
Cod JEL: G28, F30, H10
Text complet
Paginatie: 333-336
Titlul lucrarii: EXPECTED DEFAULT FREQUENCIES FOR THE COMPANIES LISTED AT THE BUCHAREST STOCK EXCHANGE
Autor(i): Miclaus Paul-Gabriel, Bobirca Ana, Lupu Radu, Ungureanu Stefan
Rezumat: This paper uses the structural models methodology to estimate the credit risk for the Romanian companies that are listed at the Bucharest Stock Exchange. Under the new Basel Capital Accord that is also spreading to the capital markets, financial institutions are allowed to report using internal ratings. We present a methodology for computing the probabilities of default on the Romanian capital, which constitutes the first part of the development of a rating system based on market values.
Cuvinte cheie: Expected Default Frequencies, Structured Credit Risk Model, Romanian Capital Market,Credit Rating
Cod JEL: G14, G33, F20
Autor(i): Miclaus Paul-Gabriel, Bobirca Ana, Lupu Radu, Ungureanu Stefan
Rezumat: This paper uses the structural models methodology to estimate the credit risk for the Romanian companies that are listed at the Bucharest Stock Exchange. Under the new Basel Capital Accord that is also spreading to the capital markets, financial institutions are allowed to report using internal ratings. We present a methodology for computing the probabilities of default on the Romanian capital, which constitutes the first part of the development of a rating system based on market values.
Cuvinte cheie: Expected Default Frequencies, Structured Credit Risk Model, Romanian Capital Market,Credit Rating
Cod JEL: G14, G33, F20
Text complet
Paginatie: 337-342
Titlul lucrarii: CANTITATIV DETERMINATIONS OF THE STOCK CAPITAL EVALUATION
Autor(i): Micu Angela-eliza, Coita Mirela
Rezumat: Since this capital gains tax liability is associated with the appraised value of the corporate assets, it is typically called the built-in gains (or BIG) tax liability. The asset-based approach analysis is often performed using the asset appraisal premise of value of: value in continued use, as part of a going concern. This premise of value assumes that the subject corporate assets would be sold as a going-concern business. The Company frequently furnished operators for the equipment that it rented to its customers, charging for both equipment and operators on an hourly basis. For example, a significant portion of the Company’s revenues resulted from the renting of large cranes, both with and withмout operators.
Cuvinte cheie: decision, stock,market.
Cod JEL: G15, G20, C40
Autor(i): Micu Angela-eliza, Coita Mirela
Rezumat: Since this capital gains tax liability is associated with the appraised value of the corporate assets, it is typically called the built-in gains (or BIG) tax liability. The asset-based approach analysis is often performed using the asset appraisal premise of value of: value in continued use, as part of a going concern. This premise of value assumes that the subject corporate assets would be sold as a going-concern business. The Company frequently furnished operators for the equipment that it rented to its customers, charging for both equipment and operators on an hourly basis. For example, a significant portion of the Company’s revenues resulted from the renting of large cranes, both with and withмout operators.
Cuvinte cheie: decision, stock,market.
Cod JEL: G15, G20, C40
Text complet
Paginatie: 343-347
Titlul lucrarii: STOCK PURCHASE VERSUS DIRECT ASSET INVESTMENT
Autor(i): Micu Angela-Eliza, Coita Mirela
Rezumat: In its review of the Tax Court decision in Jameson, the Fifth Circuit noted that the stock value for estate tax purposes depends on the timberland’s fair market value on the taxpayer’s date of death. Any sale of the subject company shares would cause a transfer of the timberland which would trigger the built-in capital gains tax liability. The estate’s valuation experts noted that the only sound economic strategy for a hypothetical willing buyer of the holding company would be an immediate liquidation of the timberland. This discussion will summarize the various issues related to the valuation of a C corporation with appreciated underlying assets. This discussion will also present a practical framework for quantifying the appropriate valuation adjustment (if any) related to the capital gains tax contingent liability related to such corporations.
Cuvinte cheie: Keywords: decision, stock, market.
Cod JEL: F30, G15, H20
Autor(i): Micu Angela-Eliza, Coita Mirela
Rezumat: In its review of the Tax Court decision in Jameson, the Fifth Circuit noted that the stock value for estate tax purposes depends on the timberland’s fair market value on the taxpayer’s date of death. Any sale of the subject company shares would cause a transfer of the timberland which would trigger the built-in capital gains tax liability. The estate’s valuation experts noted that the only sound economic strategy for a hypothetical willing buyer of the holding company would be an immediate liquidation of the timberland. This discussion will summarize the various issues related to the valuation of a C corporation with appreciated underlying assets. This discussion will also present a practical framework for quantifying the appropriate valuation adjustment (if any) related to the capital gains tax contingent liability related to such corporations.
Cuvinte cheie: Keywords: decision, stock, market.
Cod JEL: F30, G15, H20
Text complet
Paginatie: 348-352
Titlul lucrarii: LТEQUILIBRE FINANCIER ET DES DEVISES ET LA DETTE EXTERNE
Autor(i): Mitea Neluta
Rezumat: This paper focuses on the synthetic analysis of the financial-currency equilibrium and the external debt. The major problems of humanity such as poverty, diminishing of the natural resources, the external debt crises, etc., showing global dimensions, cannot be solved but with common efforts, while others having specific features can be solved only within the national framework, which has to get to a specific decisional autonomy.
The main function of the global financial market is to direct the capital fluxes from the producing resources to the most efficient locations, confirming the adequate rentability, and the less risky placement. The world development of the financial market is not uniform, as a result of the various economic evolutions. Forming the capital within the developed areas, and the placement of the necessity for financing within the developing areas leads the financial fluxes towards an opposite direction than that of the beginnings of the economic increase, when the countries Сnatural resources, very poor now, sustained the development of the rich countries.
Cuvinte cheie: financial fluxes, currency equilibrium, external debt, deficit, and current account
Cod JEL: G32, G10, F30
Autor(i): Mitea Neluta
Rezumat: This paper focuses on the synthetic analysis of the financial-currency equilibrium and the external debt. The major problems of humanity such as poverty, diminishing of the natural resources, the external debt crises, etc., showing global dimensions, cannot be solved but with common efforts, while others having specific features can be solved only within the national framework, which has to get to a specific decisional autonomy.
The main function of the global financial market is to direct the capital fluxes from the producing resources to the most efficient locations, confirming the adequate rentability, and the less risky placement. The world development of the financial market is not uniform, as a result of the various economic evolutions. Forming the capital within the developed areas, and the placement of the necessity for financing within the developing areas leads the financial fluxes towards an opposite direction than that of the beginnings of the economic increase, when the countries Сnatural resources, very poor now, sustained the development of the rich countries.
Cuvinte cheie: financial fluxes, currency equilibrium, external debt, deficit, and current account
Cod JEL: G32, G10, F30
Text complet
Paginatie: 353-357
Titlul lucrarii: MARKET NICHE IN AGRICULTURAL INSURANCES
Autor(i): Mitu Narcis Eduard
Rezumat: As the negative effects of climatic warming are more and more obvious, the demand for insurance solutions to cover the costs resulting from weather whims shall increase in direct ration with risk exposure. Although the situation might be interpreted as a business opportunity, in order to be able to offer the proper cover it is necessary to comply with fundamental demands regarding the weather risk insurance. Thus, when conceiving viable insurance solutions of the consequences intervened in case of a catastrophic event generated by harsh weather conditions we must take into consideration factors such as measurement possibility of the respective risk, in order to decide if this can or can not be accepted. Thus, in this item we tried to illustrate some elemental aspects connected to agricultural insurances perspectives.
Cuvinte cheie: agricultural insurance, weather insurance, weather derivative
Cod JEL: Q10, Q17, G15
Autor(i): Mitu Narcis Eduard
Rezumat: As the negative effects of climatic warming are more and more obvious, the demand for insurance solutions to cover the costs resulting from weather whims shall increase in direct ration with risk exposure. Although the situation might be interpreted as a business opportunity, in order to be able to offer the proper cover it is necessary to comply with fundamental demands regarding the weather risk insurance. Thus, when conceiving viable insurance solutions of the consequences intervened in case of a catastrophic event generated by harsh weather conditions we must take into consideration factors such as measurement possibility of the respective risk, in order to decide if this can or can not be accepted. Thus, in this item we tried to illustrate some elemental aspects connected to agricultural insurances perspectives.
Cuvinte cheie: agricultural insurance, weather insurance, weather derivative
Cod JEL: Q10, Q17, G15
Text complet
Paginatie: 358-362
Titlul lucrarii: CORPORATE INCOME TAXES. EVOLUTIONS
Autor(i): Morar Ioan Dan, Popescu Virgil Luigi, Bota-moisin Anton Florin
Rezumat: taxing the income of the companies has been an important issue for the last two decades, from the point of view of the budget and of the influence of the tax on the economic environment and on the society in general.
Cuvinte cheie: tax, evolution, conciliation of the result
Cod JEL: H20, G15, F20
Autor(i): Morar Ioan Dan, Popescu Virgil Luigi, Bota-moisin Anton Florin
Rezumat: taxing the income of the companies has been an important issue for the last two decades, from the point of view of the budget and of the influence of the tax on the economic environment and on the society in general.
Cuvinte cheie: tax, evolution, conciliation of the result
Cod JEL: H20, G15, F20
Text complet
Paginatie: 363-366
Titlul lucrarii: THE FISCAL MECHANISM. INFLUENCES.
Autor(i): Morar Ioan Dan, Bota – Moisin Anton Florin, Popescu Virgil Luigi
Rezumat: Fiscal mechanism is part of the financial one, mechanism that refers to a large and difficult domain, namely the financial one. Fiscal mechanismТ functionality is defined by two components, namely by the level of conception that outlines the structure of the mechanism and on the other side, by the influences of the environment in which it exists. Technical procedures, the instruments and the modalities of taxes administration, fiscal charge itself and the human action marked by ideologies, customs and subjective compulsions are fluctuations that determine the functionality of fiscal mechanism.
Cuvinte cheie: Mechanism, functionality of mechanism, fiscal charge.
Cod JEL: G15, G32, H10
Autor(i): Morar Ioan Dan, Bota – Moisin Anton Florin, Popescu Virgil Luigi
Rezumat: Fiscal mechanism is part of the financial one, mechanism that refers to a large and difficult domain, namely the financial one. Fiscal mechanismТ functionality is defined by two components, namely by the level of conception that outlines the structure of the mechanism and on the other side, by the influences of the environment in which it exists. Technical procedures, the instruments and the modalities of taxes administration, fiscal charge itself and the human action marked by ideologies, customs and subjective compulsions are fluctuations that determine the functionality of fiscal mechanism.
Cuvinte cheie: Mechanism, functionality of mechanism, fiscal charge.
Cod JEL: G15, G32, H10
Text complet
Paginatie: 367-370
Titlul lucrarii: THE LOCAL DECENTRALISATION AND THE ISSUES OF MUNICIPAL BONDS IN ROMANIA
Autor(i): Mosteanu Tatiana, Lacatus Carmen Maria
Rezumat: This paper work analyses the connection between local financial decentralization and the potential of local public administration to sustain the local economic and social development by its own forces by taking part to the capital market. Next to the ordinary financial sources, which are the local taxes, the local collectivities resorted last years more and more to the loans, by issuing municipal bonds. As an effect of the local autonomy and financial independence, these kinds of financial instruments gave the chance to the local public administrations to answer all community needs in efficiency and efficacy terms. Very attractive for investors because of the rate of return offered, up to the level of the reference rate of interest fixed by the Romanian National Bank, the municipal bonds are used to reduce the risk of their portfolio.
Cuvinte cheie: local autonomy, financial decentralization, local public revenues, municipal bonds, local public administration, HunterТs index
Cod JEL: G25, G30, F20
Autor(i): Mosteanu Tatiana, Lacatus Carmen Maria
Rezumat: This paper work analyses the connection between local financial decentralization and the potential of local public administration to sustain the local economic and social development by its own forces by taking part to the capital market. Next to the ordinary financial sources, which are the local taxes, the local collectivities resorted last years more and more to the loans, by issuing municipal bonds. As an effect of the local autonomy and financial independence, these kinds of financial instruments gave the chance to the local public administrations to answer all community needs in efficiency and efficacy terms. Very attractive for investors because of the rate of return offered, up to the level of the reference rate of interest fixed by the Romanian National Bank, the municipal bonds are used to reduce the risk of their portfolio.
Cuvinte cheie: local autonomy, financial decentralization, local public revenues, municipal bonds, local public administration, HunterТs index
Cod JEL: G25, G30, F20
Text complet
Paginatie: 371-375
Titlul lucrarii: THE NEED OF USING INDICATORS IN SIZING THE EFFICIENCY OF EXPENDITURE FOR EDUCATION
Autor(i): Mosteanu Tatiana, Gherghina Rodica
Rezumat: In order to be used in sizing the efficiency of expenditure for education, the indicators must reflect its specific aspects and their calculation must be needed and in accordance with the requests of the educational activity.
The need of using a system of indicators is imposed by the complex character of the efficiency of expenses for education, due to the fact that each of these indices takes a certain efficiency criterion, contributing to the development, implementation and evaluation of the educational policies.
Cuvinte cheie: indicators/indices, efficiency, expenditure for education
Cod JEL: I20, I23
Autor(i): Mosteanu Tatiana, Gherghina Rodica
Rezumat: In order to be used in sizing the efficiency of expenditure for education, the indicators must reflect its specific aspects and their calculation must be needed and in accordance with the requests of the educational activity.
The need of using a system of indicators is imposed by the complex character of the efficiency of expenses for education, due to the fact that each of these indices takes a certain efficiency criterion, contributing to the development, implementation and evaluation of the educational policies.
Cuvinte cheie: indicators/indices, efficiency, expenditure for education
Cod JEL: I20, I23
Text complet
Paginatie: 376-378
Titlul lucrarii: CONSIDERATIONS REGARDING GROWING FINANCING CAPACITY OF SME`S
Autor(i): Nanu Roxana Maria, Spulbar Cristi Marcel, Buziernescu Radu
Rezumat: Small and Medium Enterprises are very important part of both developed and less developed national economies. The European Union experience shows that it has a significant contribution to the GDP and to the reduction of the unemployment rate. In Romania, as in many countries in the area, there is still a long way ahead for reaching an adequate support for SME development potential. Romania has a sector which, although has recently followed a positive trend, it possess performances which are still low in comparison with the countries from European Union, including the countries which entered the European Union in May 2004. The paper highlights financing methods used by SME, the reasons for the present situation as well as the measures thought to be the best for its improvement. In order to amend the situation the Romanian SME are in, Romania must take multiply sided actions, the main role being assigned to government, banks and guaranteeing institutions, that must develop a series of transparent, efficient and correct instruments.
Cuvinte cheie: SME’s, financing, credit, leasing, guaranteeing funds, structural funds
Cod JEL: H32, G15, F20
Autor(i): Nanu Roxana Maria, Spulbar Cristi Marcel, Buziernescu Radu
Rezumat: Small and Medium Enterprises are very important part of both developed and less developed national economies. The European Union experience shows that it has a significant contribution to the GDP and to the reduction of the unemployment rate. In Romania, as in many countries in the area, there is still a long way ahead for reaching an adequate support for SME development potential. Romania has a sector which, although has recently followed a positive trend, it possess performances which are still low in comparison with the countries from European Union, including the countries which entered the European Union in May 2004. The paper highlights financing methods used by SME, the reasons for the present situation as well as the measures thought to be the best for its improvement. In order to amend the situation the Romanian SME are in, Romania must take multiply sided actions, the main role being assigned to government, banks and guaranteeing institutions, that must develop a series of transparent, efficient and correct instruments.
Cuvinte cheie: SME’s, financing, credit, leasing, guaranteeing funds, structural funds
Cod JEL: H32, G15, F20
Text complet 1
Paginatie: 379-384
Titlul lucrarii: VOLATILITY ESTIMATION BASED ON HETEROSKEDASTIC MODELS VS. HISTORICAL MODELS
Autor(i): Negrea Bogdan Cristian, Tatu Lucian, Stoian Andreea, Tatu Delia
Rezumat: Volatility represents the most common used method for risk estimation. The aim of this paper is to estimate volatility based on historical models and heteroskedastic models, GARCH (!,!), in order to identify the crisis moment within American capital market. The database used consists in daily observations about Dow Jones index, spanned within 1928 – 2002.
Cuvinte cheie: volatility, heteroskedasticity, GARCH, capital market
Cod JEL: G20, G30, F30
Autor(i): Negrea Bogdan Cristian, Tatu Lucian, Stoian Andreea, Tatu Delia
Rezumat: Volatility represents the most common used method for risk estimation. The aim of this paper is to estimate volatility based on historical models and heteroskedastic models, GARCH (!,!), in order to identify the crisis moment within American capital market. The database used consists in daily observations about Dow Jones index, spanned within 1928 – 2002.
Cuvinte cheie: volatility, heteroskedasticity, GARCH, capital market
Cod JEL: G20, G30, F30
Text complet
Paginatie: 385-389
Titlul lucrarii: ACTUAL TENDENCIES FOR FINANCIAL CORPORATIVE MANAGEMENT
Autor(i): Nistor Ioan, Vaidean Viorela Ligia
Rezumat: Corporate finance is mainly oriented towards the management of money resources and financial relationships that rise between economic agents in the process of pecuniary circulation. Moreover, financial management represents the process of settling the purposes for influencing finances with the help of the methods and the levers of the financial mechanism. The structure of the financial mechanism is further analyzed as well as the constitution of the financial managementТs object and subject.
Cuvinte cheie: corporate finance, financial management, financial mechanism
Cod JEL: G32, G38, G20
Autor(i): Nistor Ioan, Vaidean Viorela Ligia
Rezumat: Corporate finance is mainly oriented towards the management of money resources and financial relationships that rise between economic agents in the process of pecuniary circulation. Moreover, financial management represents the process of settling the purposes for influencing finances with the help of the methods and the levers of the financial mechanism. The structure of the financial mechanism is further analyzed as well as the constitution of the financial managementТs object and subject.
Cuvinte cheie: corporate finance, financial management, financial mechanism
Cod JEL: G32, G38, G20
Text complet
Paginatie: 390-394
Titlul lucrarii: ARE ALL FINANCIAL CRISES THE SAME? PREMISE FOR FURTHER RESEARCH.
Autor(i): Nistor Ioan Alin
Rezumat: Abstract: The entry of Romania in the EU has brought advantages and disadvantages. This fact made Romania prone to the influence of other economies especially from developed countries. The paper examines the possible correlation of Romanian economy with other economies and like this the effects that a financial crisis would influence Romania. In case of a financial crisis many emerging markets will suffer because the investment flows will move away, as an adjustment of risk aversion.
Cuvinte cheie: Financial crisis, banking distress, emerging market, risk aversion
Cod JEL: H10, G30, F20
Autor(i): Nistor Ioan Alin
Rezumat: Abstract: The entry of Romania in the EU has brought advantages and disadvantages. This fact made Romania prone to the influence of other economies especially from developed countries. The paper examines the possible correlation of Romanian economy with other economies and like this the effects that a financial crisis would influence Romania. In case of a financial crisis many emerging markets will suffer because the investment flows will move away, as an adjustment of risk aversion.
Cuvinte cheie: Financial crisis, banking distress, emerging market, risk aversion
Cod JEL: H10, G30, F20
Text complet
Paginatie: 395-398
Titlul lucrarii: PENSIONS SYSTEM AND REFORM IN ROMANIA
Autor(i): Nicodim Liliana, Nitu Oana
Rezumat: All transition countries inherited pension systems based on the principles of pay-as-you-go and defined benefit (PAYG-DB). In the early years of operation, such systems had advantages over a fully-funded, defined-contribution (FF-DC) system. For, under a PAYG-DB arrangement, those who retire receive pension benefits immediately and contributions initially tend to exceed the payments. These advantages, however, disappear later on, when population (and employment) growth rates decline and when people live longer after retirement. Under such circumstances, an FF-DC programme has the advantages of greater flexibility and transparency, hence greater financial viability. The changeover from PAYG-DB systems to FF-DC systems is therefore a worldwide trend.
Although Romania has undertaken many necessary and difficult reforms to public pensions to contain the fiscal cost of ageing, much more remains to be done. Replacement rates are low and falling to a degree that undermines workersТ willingness to participate in the state pension plan, particularly at contribution rates that are among the highest in the region.
Cuvinte cheie: pensions system, pay-as-you-go, reform, public pension
Cod JEL: G23, G20, F30
Autor(i): Nicodim Liliana, Nitu Oana
Rezumat: All transition countries inherited pension systems based on the principles of pay-as-you-go and defined benefit (PAYG-DB). In the early years of operation, such systems had advantages over a fully-funded, defined-contribution (FF-DC) system. For, under a PAYG-DB arrangement, those who retire receive pension benefits immediately and contributions initially tend to exceed the payments. These advantages, however, disappear later on, when population (and employment) growth rates decline and when people live longer after retirement. Under such circumstances, an FF-DC programme has the advantages of greater flexibility and transparency, hence greater financial viability. The changeover from PAYG-DB systems to FF-DC systems is therefore a worldwide trend.
Although Romania has undertaken many necessary and difficult reforms to public pensions to contain the fiscal cost of ageing, much more remains to be done. Replacement rates are low and falling to a degree that undermines workersТ willingness to participate in the state pension plan, particularly at contribution rates that are among the highest in the region.
Cuvinte cheie: pensions system, pay-as-you-go, reform, public pension
Cod JEL: G23, G20, F30
Text complet
Paginatie: 399-403
Titlul lucrarii: ROMANIAN FISCAL SYSTEM PROGRESSIVE QUOTATION VS. UNIQUE QUOTATION
Autor(i): Nitu Oana, Nicodim Liliana
Rezumat: In simple terms, fixe tax means that every person is taxed with the same percentage. In such a system, in place of a complex set of taxing, the state declares a limit over which every person pays a fix tax for personal incomes. This limit is generally very low, in order to stimulate the people to pay their taxes, instead of trying to avoid them. This kind of system bases on the single taxing of incomes. In what concerns the corporatistic taxes, the idea is similar: only one rule for everybody. The analysts are disposed to take into evidence that, if the unique tax was a rule in every industrialized states in the first half of XIXth century, the first demandings that were pronounced plainly for a Уstrong progressive or tax gradualФ system, appeared in the communist manifestation of Karl Marx in 1848. But, at least, the capitalist states adopted this system.
Cuvinte cheie: fiscal system, unique quotation, fiscal incomes, fiscal evasion
Cod JEL: G20, G28, G30
Autor(i): Nitu Oana, Nicodim Liliana
Rezumat: In simple terms, fixe tax means that every person is taxed with the same percentage. In such a system, in place of a complex set of taxing, the state declares a limit over which every person pays a fix tax for personal incomes. This limit is generally very low, in order to stimulate the people to pay their taxes, instead of trying to avoid them. This kind of system bases on the single taxing of incomes. In what concerns the corporatistic taxes, the idea is similar: only one rule for everybody. The analysts are disposed to take into evidence that, if the unique tax was a rule in every industrialized states in the first half of XIXth century, the first demandings that were pronounced plainly for a Уstrong progressive or tax gradualФ system, appeared in the communist manifestation of Karl Marx in 1848. But, at least, the capitalist states adopted this system.
Cuvinte cheie: fiscal system, unique quotation, fiscal incomes, fiscal evasion
Cod JEL: G20, G28, G30
Text complet
Paginatie: 404-409
Titlul lucrarii: SUPERVISION ON THE SINGLE EUROPEAN INSURANCE MARKET INTERACTION BETWEEN REGULATION AND COMPETITION
Autor(i): Novac Laura Elly, Badea Dumitru
Rezumat: Even though the financial markets have developed in the last decade, new requirements became strictly needed in order to create a common ground for the national markets and in the same time to enhance the development of the global market. If the authorities in fields began their activities as simple regulators, their role included also a new scope Ñ‚ÐУ the one of monitoring the relationship between the suppliers of products and services and the customers. Such a development can be noticed in insurance industry, all over the world, especially in the European territory, starting with the Solvency II project that intends to offer sounder financial stability for the insurance companies and higher transparency towards the clients and the supervisors.
Cuvinte cheie: prudential, solvency, supervision
Cod JEL: G22, F30
Autor(i): Novac Laura Elly, Badea Dumitru
Rezumat: Even though the financial markets have developed in the last decade, new requirements became strictly needed in order to create a common ground for the national markets and in the same time to enhance the development of the global market. If the authorities in fields began their activities as simple regulators, their role included also a new scope Ñ‚ÐУ the one of monitoring the relationship between the suppliers of products and services and the customers. Such a development can be noticed in insurance industry, all over the world, especially in the European territory, starting with the Solvency II project that intends to offer sounder financial stability for the insurance companies and higher transparency towards the clients and the supervisors.
Cuvinte cheie: prudential, solvency, supervision
Cod JEL: G22, F30
Text complet
Paginatie: 410-413
Titlul lucrarii: INTERGOVERNMENTAL FISCAL RELATIONS AND LOCAL FINANCIAL AUTONOMY IN ROMANIA
Autor(i): Oprea Florin, Lazar Sebastian
Rezumat: Since the fall of the communist regime, Romania had experienced a long period of structural reforms aimed to readjust the society and the economy to the requirements of democracy and market values. Public finances had played a major role in this assignment, but their tasks were impeded by the necessity of reforming the public finances itself. The transition from the central economy to the market economy had to be made simultaneously with the reform of the public finances. This had generated great difficulties in designing the new framework of the local finances which further, generated major difficulties for local governments. The paper tries to make a brief description of the decentralization of public finance in Romania, identifying the major evolutions and criticizing the actual system which is not yet compatible with the requirements of the EU.
Cuvinte cheie: decentralization, local revenues, local expenditures, intergovernmental transfers
Cod JEL: G18, G28, H10
Autor(i): Oprea Florin, Lazar Sebastian
Rezumat: Since the fall of the communist regime, Romania had experienced a long period of structural reforms aimed to readjust the society and the economy to the requirements of democracy and market values. Public finances had played a major role in this assignment, but their tasks were impeded by the necessity of reforming the public finances itself. The transition from the central economy to the market economy had to be made simultaneously with the reform of the public finances. This had generated great difficulties in designing the new framework of the local finances which further, generated major difficulties for local governments. The paper tries to make a brief description of the decentralization of public finance in Romania, identifying the major evolutions and criticizing the actual system which is not yet compatible with the requirements of the EU.
Cuvinte cheie: decentralization, local revenues, local expenditures, intergovernmental transfers
Cod JEL: G18, G28, H10
Text complet
Paginatie: 414-421
Titlul lucrarii: OPPORTUNITIES TO FINANCE ENTERPRISES BY CAPITAL MARKET
Autor(i): Panoiu Laura, Gust Marius, Grigorescu Remus
Rezumat: The positive effects of Romania joining the European Union are business opportunities for Small and Medium Size Companies, entities that should provide products and services of best quality, in order to meet customers expectations and to increase competitiveness.Within this context, we consider the capital market one of the solutions that can be used without high costs, while, the Romanian capital market, in spite of its instable activity, can provide accessible financing possibilities to different companies.
Cuvinte cheie: capital market, competitiveness, financing possibilities, financing sources
Cod JEL: H32, G15, G30
Autor(i): Panoiu Laura, Gust Marius, Grigorescu Remus
Rezumat: The positive effects of Romania joining the European Union are business opportunities for Small and Medium Size Companies, entities that should provide products and services of best quality, in order to meet customers expectations and to increase competitiveness.Within this context, we consider the capital market one of the solutions that can be used without high costs, while, the Romanian capital market, in spite of its instable activity, can provide accessible financing possibilities to different companies.
Cuvinte cheie: capital market, competitiveness, financing possibilities, financing sources
Cod JEL: H32, G15, G30
Text complet
Paginatie: 422-425
Titlul lucrarii: THE RESULT ACCOUNT – DATABASE USED IN FINANCIAL ASSESSEMENT
Autor(i): Pelecaci Crina Maria
Rezumat: The performances of a society depend both on operational management (of production, of human resources) and on the financial management. In the economic specialistsТ opinion the objectives of the financial management are both profits maximization and maximization of shareholdersТ wealth.
The management process in a company means the assembly of stages, processes through which its objectives and those of the incorporated systems are determined, work resources and processes necessary to their achievement and their executors, through which they register and control the staffТs work using a complex of methods and techniques in order to achieve most efficiently the reasons that determined the setting up of the company.
Cuvinte cheie: the financial management, the result account, the operational management
Cod JEL: G15, F20, H10
Autor(i): Pelecaci Crina Maria
Rezumat: The performances of a society depend both on operational management (of production, of human resources) and on the financial management. In the economic specialistsТ opinion the objectives of the financial management are both profits maximization and maximization of shareholdersТ wealth.
The management process in a company means the assembly of stages, processes through which its objectives and those of the incorporated systems are determined, work resources and processes necessary to their achievement and their executors, through which they register and control the staffТs work using a complex of methods and techniques in order to achieve most efficiently the reasons that determined the setting up of the company.
Cuvinte cheie: the financial management, the result account, the operational management
Cod JEL: G15, F20, H10
Text complet
Paginatie: 426-432
Titlul lucrarii: A TRUE AND FAIR VIEW OF IMPLEMENTATION OF THE IAS REGULATION IN THE EUROPEAN UNION
Autor(i): Pietraru Alina
Rezumat: The Regulation of the European Parliament and the Council of the European Union on the application of international accounting standards, was a key instrument to enhance comparability and transparency of financial statements prepared by public traded companies, in order to ensure the completion of a single financial services market. Never the less, Member States were allowed to extend the application of IAS to unlisted companies and to individual accounts.
Cuvinte cheie: European Directives, IAS Regulation, IAS endorsement process
Cod JEL: G20, F30, G30
Autor(i): Pietraru Alina
Rezumat: The Regulation of the European Parliament and the Council of the European Union on the application of international accounting standards, was a key instrument to enhance comparability and transparency of financial statements prepared by public traded companies, in order to ensure the completion of a single financial services market. Never the less, Member States were allowed to extend the application of IAS to unlisted companies and to individual accounts.
Cuvinte cheie: European Directives, IAS Regulation, IAS endorsement process
Cod JEL: G20, F30, G30
Text complet
Paginatie: 433-437
Titlul lucrarii: OPPORTUNITIES OFFERED BY THE CAPITAL MARKET FOR FINANCING PUBLIC ADMINISTRATION
Autor(i): Pirtea Marilen, Iovu Laura Raisa
Rezumat: Nowadays, covering the financial deficit of public administration in Romania is a difficult task, taking into consideration the fact that in a continous way, this institutional sector must implement and manage investment projects, that suit the local needs of Romanian colectivity and dynamize their adaption to the social,economical and political requirements of the integration in the European Union. Therefore, the alternative of financing through the capital market is well received by the public authorities, especially because there is a lack of flexibility and variety of financing possibilities for the public administration. The interest for this type of financing has increased over the time, once with becoming familiar with the mechanisms and advantages of such a type of financing by all entities that operate on the market (issuers, investors, intermediaries).
Cuvinte cheie: capital market, T-bonds, public debt management
Cod JEL: G15, G14, G30
Autor(i): Pirtea Marilen, Iovu Laura Raisa
Rezumat: Nowadays, covering the financial deficit of public administration in Romania is a difficult task, taking into consideration the fact that in a continous way, this institutional sector must implement and manage investment projects, that suit the local needs of Romanian colectivity and dynamize their adaption to the social,economical and political requirements of the integration in the European Union. Therefore, the alternative of financing through the capital market is well received by the public authorities, especially because there is a lack of flexibility and variety of financing possibilities for the public administration. The interest for this type of financing has increased over the time, once with becoming familiar with the mechanisms and advantages of such a type of financing by all entities that operate on the market (issuers, investors, intermediaries).
Cuvinte cheie: capital market, T-bonds, public debt management
Cod JEL: G15, G14, G30
Text complet
Paginatie: 438-443
Titlul lucrarii: BUDGET DEFICIT PERSPECTIVES IN ROMANIA
Autor(i): Pirvu Daniela, Clipici Emilia
Rezumat: Although Romania engaged itself through the Convergence Program to reduce its budget deficit to less than 1% of GDP by the year 2011, the recent evolution of the public revenues and expenditures contradict this hypothesis. Compared to our country, the public finance in the European Union member states will improve significantly, as the result of fiscal revenue increase.
Cuvinte cheie: budget deficit, the Pact of Stability and Growth, durable convergence
Cod JEL: G38, G28, H20
Autor(i): Pirvu Daniela, Clipici Emilia
Rezumat: Although Romania engaged itself through the Convergence Program to reduce its budget deficit to less than 1% of GDP by the year 2011, the recent evolution of the public revenues and expenditures contradict this hypothesis. Compared to our country, the public finance in the European Union member states will improve significantly, as the result of fiscal revenue increase.
Cuvinte cheie: budget deficit, the Pact of Stability and Growth, durable convergence
Cod JEL: G38, G28, H20
Text complet
Paginatie: 444-449
Titlul lucrarii: THE INFLUENCE OF THE LIBERAL CONCEPT “BY OURSELVES” ON THE PUBLIC FINANCE IN ROMANIA
Autor(i): Pirvu Daniela, Popescu Ramona
Rezumat: Since the end of the 19th century, the Liberal National Party engaged to rectify the economic situation by itself without resorting to external loans, but running the policy Уby ourselvesФ, a policy of budgetary austerity and public expenditure limitations from fiscal revenues, encouraging the stateТs economic function. The liberal budgetary policy mainly relied on revenue increase from public wealth increase. This budgetary component of the liberal economic policy kept running until the first interwar decade, contributing to the normalization of public finance during the national economic crises. Similar measures were recommended after 1989 to adapt the Romanian public finance to the market economy requirements. But often their application was delayed by the respective political climate.
Cuvinte cheie: provision, initiative, normalization
Cod JEL: G14, H10, F20
Autor(i): Pirvu Daniela, Popescu Ramona
Rezumat: Since the end of the 19th century, the Liberal National Party engaged to rectify the economic situation by itself without resorting to external loans, but running the policy Уby ourselvesФ, a policy of budgetary austerity and public expenditure limitations from fiscal revenues, encouraging the stateТs economic function. The liberal budgetary policy mainly relied on revenue increase from public wealth increase. This budgetary component of the liberal economic policy kept running until the first interwar decade, contributing to the normalization of public finance during the national economic crises. Similar measures were recommended after 1989 to adapt the Romanian public finance to the market economy requirements. But often their application was delayed by the respective political climate.
Cuvinte cheie: provision, initiative, normalization
Cod JEL: G14, H10, F20
Text complet
Paginatie: 450-454
Titlul lucrarii: SOME ASPECTS REGARDING MULTINATIONAL ENTERPRISE
Autor(i): Popa Daniela
Rezumat: Firms engaged in international trade, but they produced their output only at home. In this paper, we turn attention to the phenomenon of the international company, which Romania had not enough. Traditional trade theory offers few reasons why companies should become international and conduct foreign direct investment. We seek to understand these issues here. Economics has much to say on the subject. In the beginning we provide some brief background, the we define the multinational enterprise and discuss general principles governing location, production, and sales decisions by multiplant firms. We then explore the main characteristics of the multinational enterprise
Cuvinte cheie: Multinational enterprise, foreign markets, market imperfection
Cod JEL: G32, G30, F20
Autor(i): Popa Daniela
Rezumat: Firms engaged in international trade, but they produced their output only at home. In this paper, we turn attention to the phenomenon of the international company, which Romania had not enough. Traditional trade theory offers few reasons why companies should become international and conduct foreign direct investment. We seek to understand these issues here. Economics has much to say on the subject. In the beginning we provide some brief background, the we define the multinational enterprise and discuss general principles governing location, production, and sales decisions by multiplant firms. We then explore the main characteristics of the multinational enterprise
Cuvinte cheie: Multinational enterprise, foreign markets, market imperfection
Cod JEL: G32, G30, F20
Text complet
Paginatie: 455-459
Titlul lucrarii: THE FUTURE OF THE EUROPEAN UNIONТS PROPER RESOURCES
Autor(i): Popa Diana Claudia, Coroiu Sorina Ioana
Rezumat: The time-honoured financing system of the European Union favours a certain looseness of budgetary responsibilities; while the increase of expenditures seems to be a purpose for itself for the European Commission and the European Parliament, the member states make their net balance the reason for their distinct positions on common policies.
By and large, the current own resources of the European Union formed by agricultural taxation, customs duties, VAT resource and the complementary resource on GDP correspond in fact to simple financial transfers of the member states into the communitarian budget.
The advantages of a reform of the own resource system are numerous despite the difficulties of implementation.
Cuvinte cheie: own resources, reform, unique communitarian taxation, net balance
Cod JEL: G19, G28, F20
Autor(i): Popa Diana Claudia, Coroiu Sorina Ioana
Rezumat: The time-honoured financing system of the European Union favours a certain looseness of budgetary responsibilities; while the increase of expenditures seems to be a purpose for itself for the European Commission and the European Parliament, the member states make their net balance the reason for their distinct positions on common policies.
By and large, the current own resources of the European Union formed by agricultural taxation, customs duties, VAT resource and the complementary resource on GDP correspond in fact to simple financial transfers of the member states into the communitarian budget.
The advantages of a reform of the own resource system are numerous despite the difficulties of implementation.
Cuvinte cheie: own resources, reform, unique communitarian taxation, net balance
Cod JEL: G19, G28, F20
Text complet
Paginatie: 460-465
Titlul lucrarii: THE THEORY OF FISCAL OPTIMIZATION. AN ANALYSIS OF FISCALITY IN EUROPEAN UNION MEMBER STATES
Autor(i): Popa Ionela, Codreanu Diana, Marin Camelia
Rezumat: Taking account of the lack in revenuesТ popularity that is permanent and general within the entire economy, it is legitimate and extremely important to identify the best way to set up revenues in order to reach maximum acceptance of payers.
Starting from the theory of Уfiscal optimizationФ, the article aims at analyzing the degree to which European Union member statesТ fiscal systems comply with the УoptimizationФ from two perspectives: those of payers – by means of specific indices: fiscality rate, fiscal pressure, fiscality relative degree – and those of the authorities that have duties in the fiscality field – emphasizing the amount of fiscal charges in this respect.
Cuvinte cheie: fiscal optimization, fiscal revenues, fiscal pressure
Cod JEL: F36, F50, G15
Autor(i): Popa Ionela, Codreanu Diana, Marin Camelia
Rezumat: Taking account of the lack in revenuesТ popularity that is permanent and general within the entire economy, it is legitimate and extremely important to identify the best way to set up revenues in order to reach maximum acceptance of payers.
Starting from the theory of Уfiscal optimizationФ, the article aims at analyzing the degree to which European Union member statesТ fiscal systems comply with the УoptimizationФ from two perspectives: those of payers – by means of specific indices: fiscality rate, fiscal pressure, fiscality relative degree – and those of the authorities that have duties in the fiscality field – emphasizing the amount of fiscal charges in this respect.
Cuvinte cheie: fiscal optimization, fiscal revenues, fiscal pressure
Cod JEL: F36, F50, G15
Text complet
Paginatie: 466-473
Titlul lucrarii: STRUCTURAL FUNDS STRATEGIES, OBJECTVES AND FINANCING
Autor(i): Postole Mirela-anca, Vaduva Florin
Rezumat: The policy of regional development is one of the most important and complex policies of the European Union, a statute that derives from the fact, that through itТs objective of reducing the economic and social disparities existing between different regions of Europe, act on significant domains for developing like economical growth, small and medium business (SMB), transport, agriculture, urban development, environmental protection, education, gender equality and so on.
Cuvinte cheie: Structural funds, economic and social cohesion, community initiative, innovative actions, solidarity fond.
Cod JEL: G10, G39, F20
Autor(i): Postole Mirela-anca, Vaduva Florin
Rezumat: The policy of regional development is one of the most important and complex policies of the European Union, a statute that derives from the fact, that through itТs objective of reducing the economic and social disparities existing between different regions of Europe, act on significant domains for developing like economical growth, small and medium business (SMB), transport, agriculture, urban development, environmental protection, education, gender equality and so on.
Cuvinte cheie: Structural funds, economic and social cohesion, community initiative, innovative actions, solidarity fond.
Cod JEL: G10, G39, F20
Text complet
Paginatie: 474-478
Titlul lucrarii: FUNDING THE STATE BUDGET WITH TAXES AND PUBLIC DEBT FROM THE PERSPECTIVE OF ECONOMIC GROWTH MODELING -THE DIAMOND MODEL CASE
Autor(i): Predescu Antoniu, Predescu Iuliana
Rezumat: The fiscal lever is of such complexity and range, that is, even in theory, linked to the phenomenon of economic growth – at least, to the phenomenon of the production of goods and services; one link is that taxation is a very effective tool for filling up the coffers of the public budget, but one point is questionable, that is whether, being as effective as it can be, it should be used exclusively, or not. Through this, the object of this paper is, consequently, built: solving the question whether, for the purpose of funding the state budget, public debt is also to be used – or, even, must be used, in conjunction with taxation.
Cuvinte cheie: Cobb-Douglas, effective labor, debt
Cod JEL: G15, F20
Autor(i): Predescu Antoniu, Predescu Iuliana
Rezumat: The fiscal lever is of such complexity and range, that is, even in theory, linked to the phenomenon of economic growth – at least, to the phenomenon of the production of goods and services; one link is that taxation is a very effective tool for filling up the coffers of the public budget, but one point is questionable, that is whether, being as effective as it can be, it should be used exclusively, or not. Through this, the object of this paper is, consequently, built: solving the question whether, for the purpose of funding the state budget, public debt is also to be used – or, even, must be used, in conjunction with taxation.
Cuvinte cheie: Cobb-Douglas, effective labor, debt
Cod JEL: G15, F20
Text complet
Paginatie: 479-481
Titlul lucrarii: THE INFLUENCE OF THE FINANCIAL FACTORS ON CASH FLOW, AS DETERMINING FACTOR OF FIRMТS INVESTMENT DECISIONS
Autor(i): Predescu Iuliana, Predescu Antoniu
Rezumat: Because investment decisions are one of three categories of decision that can be adopted by firmsТ management (beside the financing decision and the net profit allocation decision), this paper intends to present the influence of the financial factors on firmТs cash flow, as determining factor of firmТs investment decisions, among the factors which are analyzed, namely dividend payment, information asymmetry, leverage, monetary policy, internal liquidity, and firmsТ size.
Cuvinte cheie: investment, decision, cash flow
Cod JEL: F20, G14, H32
Autor(i): Predescu Iuliana, Predescu Antoniu
Rezumat: Because investment decisions are one of three categories of decision that can be adopted by firmsТ management (beside the financing decision and the net profit allocation decision), this paper intends to present the influence of the financial factors on firmТs cash flow, as determining factor of firmТs investment decisions, among the factors which are analyzed, namely dividend payment, information asymmetry, leverage, monetary policy, internal liquidity, and firmsТ size.
Cuvinte cheie: investment, decision, cash flow
Cod JEL: F20, G14, H32
Text complet
Paginatie: 482-486
Titlul lucrarii: CONVERGENCE PROGRAMS OF THE CEE COUNTRIES
Autor(i): Radulescu Magdalena
Rezumat: Member States have continued to make progress, at differing rates. In most cases, steps have been taken towards meeting the commitments contained in the country specific recommendations agreed collectively by the Member States in 2007. Having examined the updated convergence program of most CEE analyzed countries, the European Commission finds that their planned budgetary consolidation is consistent with a correction of the excessive deficits.
Cuvinte cheie: real convergence, nominal convergence, Central and Eastern European countries
Cod JEL: F36, F20, G15
Autor(i): Radulescu Magdalena
Rezumat: Member States have continued to make progress, at differing rates. In most cases, steps have been taken towards meeting the commitments contained in the country specific recommendations agreed collectively by the Member States in 2007. Having examined the updated convergence program of most CEE analyzed countries, the European Commission finds that their planned budgetary consolidation is consistent with a correction of the excessive deficits.
Cuvinte cheie: real convergence, nominal convergence, Central and Eastern European countries
Cod JEL: F36, F20, G15
Text complet
Paginatie: 487-492
Titlul lucrarii: FOREIGN DIRECT INVESTMENT FLOWS AND ECONOMIC GROWTH
Autor(i): Radulescu Magdalena, Dascalu Maria Nicoleta
Rezumat: Trying to explain economic growth is one of the fundamental questions in economics and has generated a large body of research. The importance of technology for economic growth provides an important link between FDI inflows and host country economic growth. It is theoretically straightforward to argue that FDI inflows have a potential for increasing the rate of economic growth in the host country. Inflows of physical capital resulting from FDI could also increase the rate of economic growth but it is argued in this paper that the most important effect comes from spillovers of technology. MNE operations in the host country can result in technology spillovers from FDI whereby domestic firms adopt superior MNE technology which enables them to improve their productivity. Technology spillovers thereby generate a positive externality that should allow the host country to enhance its long-run growth rate.
Cuvinte cheie: foreign direct investments, technology spillovers, competitiveness, economic growth
Cod JEL: G19, F20, H30
Autor(i): Radulescu Magdalena, Dascalu Maria Nicoleta
Rezumat: Trying to explain economic growth is one of the fundamental questions in economics and has generated a large body of research. The importance of technology for economic growth provides an important link between FDI inflows and host country economic growth. It is theoretically straightforward to argue that FDI inflows have a potential for increasing the rate of economic growth in the host country. Inflows of physical capital resulting from FDI could also increase the rate of economic growth but it is argued in this paper that the most important effect comes from spillovers of technology. MNE operations in the host country can result in technology spillovers from FDI whereby domestic firms adopt superior MNE technology which enables them to improve their productivity. Technology spillovers thereby generate a positive externality that should allow the host country to enhance its long-run growth rate.
Cuvinte cheie: foreign direct investments, technology spillovers, competitiveness, economic growth
Cod JEL: G19, F20, H30
Text complet 1
Paginatie: 493-497
Titlul lucrarii: TRANSFER PRICING APLLIED IN EUROPEAN COUNTRIES
Autor(i): Ristea Luminita, Trandafir Adina
Rezumat: This paper provides a background discussion of the arm’s length principle, which is the international transfer pricing standard that OECD Member countries have agreed and should be used for tax purposes by MNE groups and tax administrations. The paper discusses the arm’s length principle, reaffirms its status as the international standard, and sets forth guidelines for its application in a few European countries.
Cuvinte cheie: armТs length principle, transfer pricing, OECD guidelines
Cod JEL: G13, H20, H29
Autor(i): Ristea Luminita, Trandafir Adina
Rezumat: This paper provides a background discussion of the arm’s length principle, which is the international transfer pricing standard that OECD Member countries have agreed and should be used for tax purposes by MNE groups and tax administrations. The paper discusses the arm’s length principle, reaffirms its status as the international standard, and sets forth guidelines for its application in a few European countries.
Cuvinte cheie: armТs length principle, transfer pricing, OECD guidelines
Cod JEL: G13, H20, H29
Text complet
Paginatie: 498-502
Titlul lucrarii: TRANSFER PRICES. ROMANIA VS. NORTH AMERICA STATES
Autor(i): Ristea Luminita, Ceausescu Andreea
Rezumat: The role of multinationals in Romania has increased since 1 January 2007, due to the increased integration of national economies and technological progress, particularly in the area of communications. This type of growth presents complex taxation issues for both tax administrations and multinationas, themselves, since separate country rules for taxation cannot be viewed in isolation, but must be addressed in a broad international context. In order to apply the separate entity approach to intra-group transactions, individual group members must be taxed on the basis that they act at armТs length in their dealing with each other. In this context, transfer prices are significant for both taxpayers and tax administrations because ther determine in large part the income and expenses, and therefore taxable profit of associated enterprises in different tax jurisdictions.
Cuvinte cheie: Multinational enterprise, associated company, transfer prices, armТs length transaction, tax jurisdiction
Cod JEL: G13, H20, H29
Autor(i): Ristea Luminita, Ceausescu Andreea
Rezumat: The role of multinationals in Romania has increased since 1 January 2007, due to the increased integration of national economies and technological progress, particularly in the area of communications. This type of growth presents complex taxation issues for both tax administrations and multinationas, themselves, since separate country rules for taxation cannot be viewed in isolation, but must be addressed in a broad international context. In order to apply the separate entity approach to intra-group transactions, individual group members must be taxed on the basis that they act at armТs length in their dealing with each other. In this context, transfer prices are significant for both taxpayers and tax administrations because ther determine in large part the income and expenses, and therefore taxable profit of associated enterprises in different tax jurisdictions.
Cuvinte cheie: Multinational enterprise, associated company, transfer prices, armТs length transaction, tax jurisdiction
Cod JEL: G13, H20, H29
Text complet
Paginatie: 503-507
Titlul lucrarii: APPRECIATIONS CONCERNING ECONOMIC POLICIES COORDINATION IN EMU
Autor(i): Roman Angela, Bilan Irina
Rezumat: This paper intends to put into light the particularities of economic policies coordination in general and, more specifically, in the Economic and Monetary Union. The coordination of economic policies and especially of the common monetary policy with the national budgetary policies is determined by growing interdependences between member states and by the existence of some public goods within the Union and it aims at a quicker adjustment of shocks and at stabilizating the economy in the Eurozone. Realizing an efficient coordination of economic policies reprezents a necessary condition for achieving a stable and durable economic growth within the Union and it implies increasing the credibility of the authorities, transparency of the economic policies and, least but not last, increasing cooperation (dialogue) between authorities.
Cuvinte cheie: Keywords: coordination, national budgetary policies, common monetary policy, external effects, economic interdependence, public goods
Cod JEL: F50, F59, F30
Autor(i): Roman Angela, Bilan Irina
Rezumat: This paper intends to put into light the particularities of economic policies coordination in general and, more specifically, in the Economic and Monetary Union. The coordination of economic policies and especially of the common monetary policy with the national budgetary policies is determined by growing interdependences between member states and by the existence of some public goods within the Union and it aims at a quicker adjustment of shocks and at stabilizating the economy in the Eurozone. Realizing an efficient coordination of economic policies reprezents a necessary condition for achieving a stable and durable economic growth within the Union and it implies increasing the credibility of the authorities, transparency of the economic policies and, least but not last, increasing cooperation (dialogue) between authorities.
Cuvinte cheie: Keywords: coordination, national budgetary policies, common monetary policy, external effects, economic interdependence, public goods
Cod JEL: F50, F59, F30
Text complet
Paginatie: 508-511
Titlul lucrarii: THE STRENGHTENING OF ROMANIAN LOCAL FINANCIAL AUTONOMYТS LEVEL IN THE EU CONTEXT
Autor(i): Rusu Elena
Rezumat: The Romanian local public finance should be continuously improved by the time it will correspond totally to the requirements of European Union, taking into consideration that the consolidation of public finance at the level of territorial public administration depends on the measure of decentralization and of the strengthening financial autonomyТs level. At the same time, local government must be in accord with European Union legislation as Maastricht Treaty and. European Charter of Local Self-Government
This study is primarily intended to provide the stage of Romanian financial autonomy in the context of European Union with the help of its relevant indicators and the establishments of legislation limits.
Cuvinte cheie: Romanian integration, European Union, local public finances, local financial autonomy, local budget, own revenues, expenditures, competences
Cod JEL: G15, G10, H70
Autor(i): Rusu Elena
Rezumat: The Romanian local public finance should be continuously improved by the time it will correspond totally to the requirements of European Union, taking into consideration that the consolidation of public finance at the level of territorial public administration depends on the measure of decentralization and of the strengthening financial autonomyТs level. At the same time, local government must be in accord with European Union legislation as Maastricht Treaty and. European Charter of Local Self-Government
This study is primarily intended to provide the stage of Romanian financial autonomy in the context of European Union with the help of its relevant indicators and the establishments of legislation limits.
Cuvinte cheie: Romanian integration, European Union, local public finances, local financial autonomy, local budget, own revenues, expenditures, competences
Cod JEL: G15, G10, H70
Text complet
Paginatie: 512-516
Titlul lucrarii: “THE INFLUENTIAL FACTORS ON THE EXCHANGE RATE IN ROMANIA”
Autor(i): Sandu Carmen
Rezumat: The exchange rate between foreign currencies is a variable which depends on internal and external factors. By their nature, actors which influence the exchange rate can be economic, monetary, financial and psychological.
The stability of the exchange rate determines the predictability, homogeneity and continuity of the macroeconomic policies, whilst a greater volatility in the development of the national currencies exchange rate not only affects the accuracy of the forecasts but enhances its sensitivity as well, respectively the effect of its internal or external factors. In the following, I intend to highlight and to ascertain the fluency of these factors over the exchange rate in Romania, before and after its adhesion to the European Union.
Cuvinte cheie: exchange rate, influential factors (of influence), foreign currency, balance of payments, inflation rate, currency depreciation, currency appreciation
Cod JEL: F31, F32, G20
Autor(i): Sandu Carmen
Rezumat: The exchange rate between foreign currencies is a variable which depends on internal and external factors. By their nature, actors which influence the exchange rate can be economic, monetary, financial and psychological.
The stability of the exchange rate determines the predictability, homogeneity and continuity of the macroeconomic policies, whilst a greater volatility in the development of the national currencies exchange rate not only affects the accuracy of the forecasts but enhances its sensitivity as well, respectively the effect of its internal or external factors. In the following, I intend to highlight and to ascertain the fluency of these factors over the exchange rate in Romania, before and after its adhesion to the European Union.
Cuvinte cheie: exchange rate, influential factors (of influence), foreign currency, balance of payments, inflation rate, currency depreciation, currency appreciation
Cod JEL: F31, F32, G20
Text complet
Paginatie: 517-522
Titlul lucrarii: TURNAROUND MANAGEMENT AND BUSINESS ADVISORY SERVICES PROGRAMMES
Autor(i): Simen Antoneta
Rezumat: In this paper I present the link between TAM and BAS Programme and EBRD financing. The purpose of the TAM and BAS Programme is to promote economic transition through advice and mentoring at the enterprise level and to develop a sustainable infrastructure of business advisory services. There are strong parallels between the work of TAM and BAS and investments of the EBRD, which may invest in companies after a TAM /BAS project ends. The EBRD and its financial intermediaries have invested 722 million Euro in 163 enterprises that have received funding from TAM and BAS programme. This funding has contributed to a total project value of 1,66 billion Euro
Cuvinte cheie: TAM Program, BAS Program, funding,
Cod JEL: H32, G15
Autor(i): Simen Antoneta
Rezumat: In this paper I present the link between TAM and BAS Programme and EBRD financing. The purpose of the TAM and BAS Programme is to promote economic transition through advice and mentoring at the enterprise level and to develop a sustainable infrastructure of business advisory services. There are strong parallels between the work of TAM and BAS and investments of the EBRD, which may invest in companies after a TAM /BAS project ends. The EBRD and its financial intermediaries have invested 722 million Euro in 163 enterprises that have received funding from TAM and BAS programme. This funding has contributed to a total project value of 1,66 billion Euro
Cuvinte cheie: TAM Program, BAS Program, funding,
Cod JEL: H32, G15
Text complet
Paginatie: 523-526
Titlul lucrarii: THE USE OF CHARTS FOR THE TECHNICAL ANALYSIS OF THE SHARES QUOTED ON THE STOCK EXCHANGE
Autor(i): Siminicу Marian, Cюrciumaru Daniel
Rezumat: The evaluation of the future levels, that the different shares quoted on the stock exchange will be traded at, is a complex activity, which involves gathering and processing a high volume of information and also experience and a little flair in their interpretation. The Technical Analysis is a statistical method for estimating the evolution of the shares prices depending on the past evolution of these and on the volume of the transactions. It relies on using the charts for prices and volumes of the shares and also on a series of measures based on these. Its aim is to forecast the evolution on short term of the stock prices by considering the hypothesis that the historical trends reiterate in time and that there is a logical explanation regarding this evolution.
Cuvinte cheie: Technical Analysis, shares, stock exchange, candlestick chart
Cod JEL: G15, G11, F39
Autor(i): Siminicу Marian, Cюrciumaru Daniel
Rezumat: The evaluation of the future levels, that the different shares quoted on the stock exchange will be traded at, is a complex activity, which involves gathering and processing a high volume of information and also experience and a little flair in their interpretation. The Technical Analysis is a statistical method for estimating the evolution of the shares prices depending on the past evolution of these and on the volume of the transactions. It relies on using the charts for prices and volumes of the shares and also on a series of measures based on these. Its aim is to forecast the evolution on short term of the stock prices by considering the hypothesis that the historical trends reiterate in time and that there is a logical explanation regarding this evolution.
Cuvinte cheie: Technical Analysis, shares, stock exchange, candlestick chart
Cod JEL: G15, G11, F39
Text complet
Paginatie: 527-532
Titlul lucrarii: FISCAL POLICY AND WELFARE STATE IN THE ENLARGED EUROPEAN UNION
Autor(i): Slavin Mariana
Rezumat: It is considered that fiscal competition is able to determine a reduction of tax rates, a greater efficiency in the use of public funds and a better allocation of equity. On the other hand, fiscal competition can affect the transfer effects of taxation on the economy impeding the normal functioning of international trade and capital markets. The bitter competition inside Europe, following the elimination of the borders, of the free goods, services, and individualsТ flow, produces a huge pressure on the national protection systems in order to reduce social costs. Taxation can contribute to development and to welfare through three sources: the firstan foremost the tax system must collect enough funds in order to finance public services and social transfers at a high level of quality. Secondly, taxation influences the economic decisions and should offer incentive for more employment and for an efficient and lasting use of the natural resources.
Cuvinte cheie: fiscal policy, welfare state, tax competition
Cod JEL: F43, H30, G20
Autor(i): Slavin Mariana
Rezumat: It is considered that fiscal competition is able to determine a reduction of tax rates, a greater efficiency in the use of public funds and a better allocation of equity. On the other hand, fiscal competition can affect the transfer effects of taxation on the economy impeding the normal functioning of international trade and capital markets. The bitter competition inside Europe, following the elimination of the borders, of the free goods, services, and individualsТ flow, produces a huge pressure on the national protection systems in order to reduce social costs. Taxation can contribute to development and to welfare through three sources: the firstan foremost the tax system must collect enough funds in order to finance public services and social transfers at a high level of quality. Secondly, taxation influences the economic decisions and should offer incentive for more employment and for an efficient and lasting use of the natural resources.
Cuvinte cheie: fiscal policy, welfare state, tax competition
Cod JEL: F43, H30, G20
Text complet
Paginatie: 533-538
Titlul lucrarii: TAX COMPETITION AND CAPITAL MOBILITY BETWEEN OLD AND NEW EU MEMBERS STATES
Autor(i): Slavin Mariana
Rezumat: Accession of new member states with lower corporate taxation has raised fears on tax competition within enlarged Europe. The fiscal systems can contribute to the intensification of capital mobility the development of financial markets, competition intensification, and the better allocation of resources having positive effects on the economy. The flow of capital worldwide, including Foreign Direct Investments (FDI), is subject to different conditions and determinants of the host countries. Beside the comparative or competitive advantages given by the economical environment, the labour costs, the financial market developments, etc. fiscal policy is ready to contribute to the attraction of foreign direct investments.
Cuvinte cheie: tax competition, foreign direct investments (FDI), corporate taxation
Cod JEL: H21, H22, G15
Autor(i): Slavin Mariana
Rezumat: Accession of new member states with lower corporate taxation has raised fears on tax competition within enlarged Europe. The fiscal systems can contribute to the intensification of capital mobility the development of financial markets, competition intensification, and the better allocation of resources having positive effects on the economy. The flow of capital worldwide, including Foreign Direct Investments (FDI), is subject to different conditions and determinants of the host countries. Beside the comparative or competitive advantages given by the economical environment, the labour costs, the financial market developments, etc. fiscal policy is ready to contribute to the attraction of foreign direct investments.
Cuvinte cheie: tax competition, foreign direct investments (FDI), corporate taxation
Cod JEL: H21, H22, G15
Text complet
Paginatie: 539-544
Titlul lucrarii: EVALUATING DISCRETIONARISM OF ROMANIAN FISCAL POLICIES BASED ON STRUCTURAL BALANCE
Autor(i): Stoian Andreea
Rezumat: Structural balance represents a useful fiscal indicator to evaluate the efficiency of fiscal policy from discretionary point of view, also, giving some relevant insights on long run sustainability. According to estimated results for RomaniaТs case, it could be noticed only 2 episodes of fiscal adjustment. Based on the size of structural balance from following years, it could be emphasized some inconsistency of Romanian fiscal policy. On long run, the main challenge is related to achieving fiscal sustainability.
Cuvinte cheie: fiscal policy, discretionary, structural balance, GDP gap, Hodrick – Prescott filter, fiscal sustainability
Cod JEL: G20, F30, H10
Autor(i): Stoian Andreea
Rezumat: Structural balance represents a useful fiscal indicator to evaluate the efficiency of fiscal policy from discretionary point of view, also, giving some relevant insights on long run sustainability. According to estimated results for RomaniaТs case, it could be noticed only 2 episodes of fiscal adjustment. Based on the size of structural balance from following years, it could be emphasized some inconsistency of Romanian fiscal policy. On long run, the main challenge is related to achieving fiscal sustainability.
Cuvinte cheie: fiscal policy, discretionary, structural balance, GDP gap, Hodrick – Prescott filter, fiscal sustainability
Cod JEL: G20, F30, H10
Text complet
Paginatie: 545-550
Titlul lucrarii: KEY ELEMENTS TO DEFINE A SUCCESFUL PENSION FUNDS MARKET.
Autor(i): Stoicescu Alina, Serbanescu Iuliu Cosmin
Rezumat: The mandatory private pension represents a step forward in order to improve the quality of future life. Due to the problems occurred in the public pension system and the continuous debate regarding the number of participants, the lottery organization and schedule, the legal framework for the minimum rate of return, the possibilities of transfer between funds, we focused on the most developed market in the region, the Polish one, hoping to find the classical pattern for success.
Cuvinte cheie: Mandatory private pension, investment policy, Polish market.
Cod JEL: G23, G20, F20
Autor(i): Stoicescu Alina, Serbanescu Iuliu Cosmin
Rezumat: The mandatory private pension represents a step forward in order to improve the quality of future life. Due to the problems occurred in the public pension system and the continuous debate regarding the number of participants, the lottery organization and schedule, the legal framework for the minimum rate of return, the possibilities of transfer between funds, we focused on the most developed market in the region, the Polish one, hoping to find the classical pattern for success.
Cuvinte cheie: Mandatory private pension, investment policy, Polish market.
Cod JEL: G23, G20, F20
Text complet
Paginatie: 551-555
Titlul lucrarii: ACCUMULATION AND DECCUMULATION OF UNIVERSAL PENSION FUNDS. THE CASE OF ROMANIA
Autor(i): Seulean Victoria, Donath Liliana
Rezumat: The pension system reform in Romania initiated in 2000 is based on three pillars: 1) the public redistributive mandatory pillar; 2) the private mandatory pillar; 3) the private optional pillar. The paper tries to answer a few questions concerning the juridical and technical problems raised by the implementation of the last two pillars. The method used is that Сof scenariosТ, and the simulations are made separately for men and women, given that the duration of contribution payment and also the life expectancy at retirement are, at least in the present, different for the two categories of beneficiaries.
Cuvinte cheie: private pension, universal pension funds, accumulation, deccumulation
Cod JEL: G23, G20, F15
Autor(i): Seulean Victoria, Donath Liliana
Rezumat: The pension system reform in Romania initiated in 2000 is based on three pillars: 1) the public redistributive mandatory pillar; 2) the private mandatory pillar; 3) the private optional pillar. The paper tries to answer a few questions concerning the juridical and technical problems raised by the implementation of the last two pillars. The method used is that Сof scenariosТ, and the simulations are made separately for men and women, given that the duration of contribution payment and also the life expectancy at retirement are, at least in the present, different for the two categories of beneficiaries.
Cuvinte cheie: private pension, universal pension funds, accumulation, deccumulation
Cod JEL: G23, G20, F15
Text complet
Paginatie: 556-561
Titlul lucrarii: A COMPARATIVE ANALYSIS OF THE ROMANIAN AND POLISH P&L INSURANCE MARKETS
Autor(i): Serbanescu Iuliu Cosmin, Dragota Mihaela
Rezumat: The insurance market represents a significant part of the economic development. The Romanian market, even it is an emergent one, have tried, for the last 10 years, to improve the expectations regarding the main indicators of welfare: gross written premiums for both mandatory, but especially facultative insurance policies, total assets, equity, the number of insurance brokers and agents. The progress can be viewed with eyes wide opened, but we address the question whether this trend is sufficient the decrease the gap between the Romanian market and the most important insurance ones from European Union. To achieve this goal, we summarize some correlations between Romanian and Polish market, and the results are promising.
Cuvinte cheie: Insurance, Pearson correlation, gross written premiums, equity
Cod JEL: G22, G20, F20
Autor(i): Serbanescu Iuliu Cosmin, Dragota Mihaela
Rezumat: The insurance market represents a significant part of the economic development. The Romanian market, even it is an emergent one, have tried, for the last 10 years, to improve the expectations regarding the main indicators of welfare: gross written premiums for both mandatory, but especially facultative insurance policies, total assets, equity, the number of insurance brokers and agents. The progress can be viewed with eyes wide opened, but we address the question whether this trend is sufficient the decrease the gap between the Romanian market and the most important insurance ones from European Union. To achieve this goal, we summarize some correlations between Romanian and Polish market, and the results are promising.
Cuvinte cheie: Insurance, Pearson correlation, gross written premiums, equity
Cod JEL: G22, G20, F20
Text complet
Paginatie: 562-566
Titlul lucrarii: THE COMPUTATION OF SOME PRIVATE PENSIONS
Autor(i): Tanasescu Paul, Iulian Mircea
Rezumat: The aim of this study is the development of few models for the private pensions such as retirement pension, disability pension and the widow pension. We also provide a numerical application of the elaborated models.
Cuvinte cheie: Single net premium, computational functions, private pension, lifetime rent, disability pension, widow pension.
Cod JEL: G20, G23
Autor(i): Tanasescu Paul, Iulian Mircea
Rezumat: The aim of this study is the development of few models for the private pensions such as retirement pension, disability pension and the widow pension. We also provide a numerical application of the elaborated models.
Cuvinte cheie: Single net premium, computational functions, private pension, lifetime rent, disability pension, widow pension.
Cod JEL: G20, G23
Text complet
Paginatie: 567-571
Titlul lucrarii: THE COMMON CONSOLIDATED CORPORATE TAX BASE – A NEW APPROACH IN THE CORPORATE TAX FIELD
Autor(i): Toma Elena
Rezumat: The Common Consolidated Corporate Tax Base, abridged ДCCCTBФ, represents a new concept in the fiscal theory, which in the future will become a reality of fiscal practice in each EUТs member states. The year 2007 represented a significant step in shaping the principles which will gouvern the CCCTB, as a result of the great meetings at the level of European Commission on the matter. We intend analyze the impact of the legislative initiative and also to describe, itТs containt.
Cuvinte cheie: Common consolidated corporate tax base, fiscal competition, fiscal policy
Cod JEL: H21, H20, G10
Autor(i): Toma Elena
Rezumat: The Common Consolidated Corporate Tax Base, abridged ДCCCTBФ, represents a new concept in the fiscal theory, which in the future will become a reality of fiscal practice in each EUТs member states. The year 2007 represented a significant step in shaping the principles which will gouvern the CCCTB, as a result of the great meetings at the level of European Commission on the matter. We intend analyze the impact of the legislative initiative and also to describe, itТs containt.
Cuvinte cheie: Common consolidated corporate tax base, fiscal competition, fiscal policy
Cod JEL: H21, H20, G10
Text complet
Paginatie: 572-577
Titlul lucrarii: ENLARGEMENT OF THE EUROZONE – CHALLENGES AND PERSPECTIVES
Autor(i): Toma Ramona
Rezumat: EU enlargement is not complete without the new member countries joining the euro zone. This paper makes an economic analysis of some theoretical and empirical aspects on which the success of the European Monetary Union enlargement will depend. Because the new EU member states are characterized by asymmetric shocks and low flexibility on the labor market, the new euro zone cannot be classified as an optimum currency area. Our study underlines the challenges of euro zone enlargement, considering that the monetary union can be undermine if the Eurosystem continues to apply the slow and incomplete reforms that are needed to revigorate the euro area economies.
Cuvinte cheie: Euro zone, enlargement, challenges
Cod JEL: F36, F20, G10
Autor(i): Toma Ramona
Rezumat: EU enlargement is not complete without the new member countries joining the euro zone. This paper makes an economic analysis of some theoretical and empirical aspects on which the success of the European Monetary Union enlargement will depend. Because the new EU member states are characterized by asymmetric shocks and low flexibility on the labor market, the new euro zone cannot be classified as an optimum currency area. Our study underlines the challenges of euro zone enlargement, considering that the monetary union can be undermine if the Eurosystem continues to apply the slow and incomplete reforms that are needed to revigorate the euro area economies.
Cuvinte cheie: Euro zone, enlargement, challenges
Cod JEL: F36, F20, G10
Text complet
Paginatie: 578-580
Titlul lucrarii: WHAT ARE THE CHARACTERISTICS OF THE CORPORATE FINANCE PROCESS MAKING DECISION WITHIN EAST EUROPEAN EMERGING COUNTRIES?
Autor(i): Triandafil Cristina Maria, Brezeanu Petre
Rezumat: The European East Emerging countries represent an interest research topic both in terms of macroeconomic environment and corporate finance decision. Their evolution within the process of nominal and real convergence process requires a challenging analysis of the way the main macroeconomic environment affects corporate segment. This analysis will focus in a first stage on the macroeconomic environment, highlighting out the way it evolved during the transition process from the centralized and planed economy to the market oriented one. Secondly, the focus will be oriented on the corporations based in these countries. Their finance decision will be analyzed in comparison with the corporations located into the emerging countries and moreover a deep interest will be granted to their leverage, especially from the point of view of the way finance mechanisms can be valorized based on their balance sheet data.
Cuvinte cheie: rating, sovereign risk, idiosyncratic risk
Cod JEL: F36, G10, G39
Autor(i): Triandafil Cristina Maria, Brezeanu Petre
Rezumat: The European East Emerging countries represent an interest research topic both in terms of macroeconomic environment and corporate finance decision. Their evolution within the process of nominal and real convergence process requires a challenging analysis of the way the main macroeconomic environment affects corporate segment. This analysis will focus in a first stage on the macroeconomic environment, highlighting out the way it evolved during the transition process from the centralized and planed economy to the market oriented one. Secondly, the focus will be oriented on the corporations based in these countries. Their finance decision will be analyzed in comparison with the corporations located into the emerging countries and moreover a deep interest will be granted to their leverage, especially from the point of view of the way finance mechanisms can be valorized based on their balance sheet data.
Cuvinte cheie: rating, sovereign risk, idiosyncratic risk
Cod JEL: F36, G10, G39
Text complet
Paginatie: 581-587
Titlul lucrarii: THE INTERNAL AUDIT AS A COMPONENT OF THE PUBLIC ENTITIESТ INTERNAL CONTROL SYSTEM
Autor(i): Tara Ioan-Gheorghe
Rezumat: The internal control system is usually considered a lever into the hand of the management system to achieve their aims. Without having a good system of control it is not possible to overlook the economic and financial processes especially when they might not function well. The internal financial audit is thought to look into internal control aiming at disclosing its weaknesses. But is it possible as long as the internal audit is a part of internal control? The International Standards of Audit say that it has to be independently organized so as to be able to bring additional value to management process. Some methods to improve the internal public audit independence might be: a reduction of the state interference regarding public audit organization and its exercise as much as possible, methods to reduce the dependence of the internal public audit on the internal management system and methods to increase the responsibility of managers towards the entire internal control system.
Cuvinte cheie: internal control system, internal public audit, financial audit, management system, international standards of audit
Cod JEL: H32, G28, G18
Autor(i): Tara Ioan-Gheorghe
Rezumat: The internal control system is usually considered a lever into the hand of the management system to achieve their aims. Without having a good system of control it is not possible to overlook the economic and financial processes especially when they might not function well. The internal financial audit is thought to look into internal control aiming at disclosing its weaknesses. But is it possible as long as the internal audit is a part of internal control? The International Standards of Audit say that it has to be independently organized so as to be able to bring additional value to management process. Some methods to improve the internal public audit independence might be: a reduction of the state interference regarding public audit organization and its exercise as much as possible, methods to reduce the dependence of the internal public audit on the internal management system and methods to increase the responsibility of managers towards the entire internal control system.
Cuvinte cheie: internal control system, internal public audit, financial audit, management system, international standards of audit
Cod JEL: H32, G28, G18
Text complet
Paginatie: 588-593
Titlul lucrarii: GOING PUBLIC IN ROMANIA: A REVIEW OF IPO ACTIVITY, COSTS AND PRICING
Autor(i): Ursu Silviu
Rezumat: This paper analyses the process of going public in Romania via initial public offerings of shares to investors. Various features of the domestic IPOs that took place over the period from 2002 to 2007 are discussed, with an emphasis on the volume of new listings and its explanatory factors, the costs of going public and the initial returns of the IPOs.
Cuvinte cheie: Initial Public Offerings, IPO Underpricing, Bucharest Stock Exchange
Cod JEL: H22, G13, G10
Autor(i): Ursu Silviu
Rezumat: This paper analyses the process of going public in Romania via initial public offerings of shares to investors. Various features of the domestic IPOs that took place over the period from 2002 to 2007 are discussed, with an emphasis on the volume of new listings and its explanatory factors, the costs of going public and the initial returns of the IPOs.
Cuvinte cheie: Initial Public Offerings, IPO Underpricing, Bucharest Stock Exchange
Cod JEL: H22, G13, G10
Text complet
Paginatie: 594-598
Titlul lucrarii: BUCHAREST AND SOFIA ON THE EUROPEAN STOCK MARKET LANDSCAPE
Autor(i): Vancea Diane Paula Corina
Rezumat: The paper points out the main issues on the integration of the Romanian and the Bulgarian capital market in the European financial services market and the position that these two emergent markets can reach near future.
Cuvinte cheie: capital market, Romania, Bulgaria, market capitalization, European integration.
Cod JEL: G15, F30, G30
Autor(i): Vancea Diane Paula Corina
Rezumat: The paper points out the main issues on the integration of the Romanian and the Bulgarian capital market in the European financial services market and the position that these two emergent markets can reach near future.
Cuvinte cheie: capital market, Romania, Bulgaria, market capitalization, European integration.
Cod JEL: G15, F30, G30
Text complet
Paginatie: 599-603
Titlul lucrarii: THE DETERMINATION OF FINANCIAL COSTS STRUCTURE FOR COMPANIES IN ROMANIAN ECONOMY
Autor(i): Vintila Georgeta, Nedelescu Dumitru Mihai, Stanescu Cristina
Rezumat: Regardless their nature, all the capitals have a cost. The cost is the highest risk element, which accompanies the capital, because, is in inverse proportion to the profit: a higher cost leads to a lower profit. For attracting the sources of capital, a firm must spend certain sums, which are proportional to their price. The content of this thesis tries an efficiency of financial structure for companies based on the minimizing of finance costs. In this case, it has proceeded to a deep analysis of financial source on long term. In the purpose of efficiency of financial structure has followed the costs for variant of financial structure through point out models of analyses and assemble the costs recommended by international and national specialty literature.
Cuvinte cheie: financial structure, financial sources, capital cost, efficiency
Cod JEL: G31, F20, G10
Autor(i): Vintila Georgeta, Nedelescu Dumitru Mihai, Stanescu Cristina
Rezumat: Regardless their nature, all the capitals have a cost. The cost is the highest risk element, which accompanies the capital, because, is in inverse proportion to the profit: a higher cost leads to a lower profit. For attracting the sources of capital, a firm must spend certain sums, which are proportional to their price. The content of this thesis tries an efficiency of financial structure for companies based on the minimizing of finance costs. In this case, it has proceeded to a deep analysis of financial source on long term. In the purpose of efficiency of financial structure has followed the costs for variant of financial structure through point out models of analyses and assemble the costs recommended by international and national specialty literature.
Cuvinte cheie: financial structure, financial sources, capital cost, efficiency
Cod JEL: G31, F20, G10
Text complet
Paginatie: 604-610
Titlul lucrarii: VALUE OF TAX SHIELDS FROM DEBT FINANCING OF INVESTMENT PROJECTS
Autor(i): Vintila Nicoleta, Filipescu Oana, Lazar Paula
Rezumat: Debt financing of investment projects, used to complete internal sources, has benefits that increase company value (tax shields from interest payments deduction), but also implies costs of financial distress (bankruptcy costs and agency costs) that decrease market value of debt and company value. In this paper, we discuss how taxes affect financial structure choice and we estimate tax shields from debt financing for an investment in real assets, using four different models developed in financial literature.
Cuvinte cheie: real assets investments, debt financing, tax shields, marginal tax rate
Cod JEL: H20, H21, G30
Autor(i): Vintila Nicoleta, Filipescu Oana, Lazar Paula
Rezumat: Debt financing of investment projects, used to complete internal sources, has benefits that increase company value (tax shields from interest payments deduction), but also implies costs of financial distress (bankruptcy costs and agency costs) that decrease market value of debt and company value. In this paper, we discuss how taxes affect financial structure choice and we estimate tax shields from debt financing for an investment in real assets, using four different models developed in financial literature.
Cuvinte cheie: real assets investments, debt financing, tax shields, marginal tax rate
Cod JEL: H20, H21, G30
Text complet
Paginatie: 611-615
Titlul lucrarii: CONTROL ON PUBLIC INTERVENTIONS THAT CAN AFFECT THE ECONOMIC COMPETITION
Autor(i): Voicu-Olteanu Cristina
Rezumat: УState aid policyФ represents the legal approach regarding state aids, meant to ensure the predictability and an increased transparency for the initiators and suppliers or state aid, for the business environment, as well as for the internal and international financing institutions, regarding the orientation of investments and of incentives they can benefit from, the definition of the conditions to access those financial incentives, as well as the obligations thereof.
Cuvinte cheie: State aid policy, low taxation, competition
Cod JEL: G15, F30, G20
Autor(i): Voicu-Olteanu Cristina
Rezumat: УState aid policyФ represents the legal approach regarding state aids, meant to ensure the predictability and an increased transparency for the initiators and suppliers or state aid, for the business environment, as well as for the internal and international financing institutions, regarding the orientation of investments and of incentives they can benefit from, the definition of the conditions to access those financial incentives, as well as the obligations thereof.
Cuvinte cheie: State aid policy, low taxation, competition
Cod JEL: G15, F30, G20
Text complet
Paginatie: 616-621
Titlul lucrarii: CORPORATE TAX COMPETITION IN UE
Autor(i): Voicu-olteanu Cristina
Rezumat: The taxation of corporate income creates huge difficulties in an open economy; each government tries to take advantage by undercutting the tax levels of other governments or offering superior levels of public services. The existence of a strong interrelation implies that competition between countries, interested in capturing the tax base of the whole market, becomes more significant because capital will follow the maximization of profits in the global market. The most competitive countries will have an advantage in terms of total revenue in the short run and a greater rate of economic growth in the medium-long term.
Cuvinte cheie: tax policy ,corporate income tax, CCCTB
Cod JEL: H20, H21
Autor(i): Voicu-olteanu Cristina
Rezumat: The taxation of corporate income creates huge difficulties in an open economy; each government tries to take advantage by undercutting the tax levels of other governments or offering superior levels of public services. The existence of a strong interrelation implies that competition between countries, interested in capturing the tax base of the whole market, becomes more significant because capital will follow the maximization of profits in the global market. The most competitive countries will have an advantage in terms of total revenue in the short run and a greater rate of economic growth in the medium-long term.
Cuvinte cheie: tax policy ,corporate income tax, CCCTB
Cod JEL: H20, H21
Text complet
Paginatie: 622-627
Titlul lucrarii: REGARDS ABOUT THE STATE INTERVENTION IN IMPROVING THE NEGATIVE EXTERNALITIES OF THE ENVIRONMENT
Autor(i): Vuta Mariana, Gheorghe Mirela
Rezumat: The environment has an important role in the economic activity and in achieving a sustainable economic growth, this is way the article aims to present, starting from the economical principles of the environmental policies, the possibilities that the state has to influence the economical activity in the sense of diminishing itТs negative impact upon the environment. The authors have presented other economic principles then the polluter payes that can be used by the state to influence the environment policies. It is stated that applying the economic incentives supposes the acceptance of the economic instruments used by the organs of the competent administrations, the polluters community and lately by the non working organizations that are more and more affected by the damages produces upon the environment.
Cuvinte cheie: environment, externality, environment policy
Cod JEL: J10, J20
Autor(i): Vuta Mariana, Gheorghe Mirela
Rezumat: The environment has an important role in the economic activity and in achieving a sustainable economic growth, this is way the article aims to present, starting from the economical principles of the environmental policies, the possibilities that the state has to influence the economical activity in the sense of diminishing itТs negative impact upon the environment. The authors have presented other economic principles then the polluter payes that can be used by the state to influence the environment policies. It is stated that applying the economic incentives supposes the acceptance of the economic instruments used by the organs of the competent administrations, the polluters community and lately by the non working organizations that are more and more affected by the damages produces upon the environment.
Cuvinte cheie: environment, externality, environment policy
Cod JEL: J10, J20
Text complet
Paginatie: 628-631
Titlul lucrarii: THE ANALYSIS OF THE RELATION BETWEEN THE EVOLUTION OF THE BET INDEX AND THE MAIN MACROECONOMIC VARIABLES IN ROMANIA (1997-2008)
Autor(i): Zoicas Ienciu Adrian, Fat Maria Codruta
Rezumat: Starting from the conclusions which result from conducting some similar empirical studies on the great stock markets, in this work, we have set as our goal to analyze the return series behaviour of the main index of the Bucharest Stock Exchange (BSE) – the BET index, during different periods of time, compared to the evolution of some macroeconomic variables, like interbank interest rates, inflation rate or unemployment rate. The results confirm that there is a weak relation between these variables, in what monthly data are concerned.
Autor(i): Zoicas Ienciu Adrian, Fat Maria Codruta
Rezumat: Starting from the conclusions which result from conducting some similar empirical studies on the great stock markets, in this work, we have set as our goal to analyze the return series behaviour of the main index of the Bucharest Stock Exchange (BSE) – the BET index, during different periods of time, compared to the evolution of some macroeconomic variables, like interbank interest rates, inflation rate or unemployment rate. The results confirm that there is a weak relation between these variables, in what monthly data are concerned.
Cuvinte cheie: stock market, macroeconomic variables, empirical study
Cod JEL:
Text complet
Paginatie: 632-637
SECTIUNEA: FINANTE, CONTABILITATE si BANCI / SUBSECTIUNEA: BANCI
Titlul lucrarii: THE ANALYSIS OF THE CREDIT RISKS IN THE BANKING ACTIVITY
Autor(i): Apetri Anisoara Niculina
Rezumat: We could say that banking risk is a phenomenon which appears during the banking operations and which induces negative effects to those activities by the deterioration of the businessТ quality, the elimination of profit and even losses are registered. In this paper I shall present in short the way in which the financial and nonfinancial analysis is made in the Romanian banking system, as instruments of quantification of the credits risks and as a way of managing it.
Whatever the level of the taken risks the loss can be minimized if the creditation operation are organized and managed in a professional way.
Cuvinte cheie: the credit risk, the financial performance, the SWOT analyses, asset classification.
Cod JEL: G21, G12
Autor(i): Apetri Anisoara Niculina
Rezumat: We could say that banking risk is a phenomenon which appears during the banking operations and which induces negative effects to those activities by the deterioration of the businessТ quality, the elimination of profit and even losses are registered. In this paper I shall present in short the way in which the financial and nonfinancial analysis is made in the Romanian banking system, as instruments of quantification of the credits risks and as a way of managing it.
Whatever the level of the taken risks the loss can be minimized if the creditation operation are organized and managed in a professional way.
Cuvinte cheie: the credit risk, the financial performance, the SWOT analyses, asset classification.
Cod JEL: G21, G12
Text complet
Paginatie: 639-643
Titlul lucrarii: THE DIRECTIVE NR. 2006/43/CE STIPULATIONSТ IMPACT ON THE ROMANIAN BANK ENVIRONMENT
Autor(i): Veronel Avram, Marioara Avram, Daniel-Costin Avram
Rezumat: The Directive 2006/43/CE regarding the statutary audit of the annual accounts and the funded consolidated accounts gets the power of an actual law from the moment of its inclusion in the national legislation, respectively for Romania from the end of June 2008. The banks will be between the economic entities of public importance compelled to respect this norm. The article presents some of the obligations of the bank sistem and the audit firms starting with the second half of 2008. At present we may say that our country is setting its time for adhesion to international accounting procedures by a convergence process. Bank appreisal in a competitive and volatile market environment is a complex process wich normally centers around the analysis of particular aspects, including risk profile and management, financial statements, portofolio structure and quality policies and practicies, human resources, and information capacity
Cuvinte cheie: Directive, Statuary Audit, Audit Committee, Internal Control, Financial Statements
Cod JEL: G21 G10 E40
Autor(i): Veronel Avram, Marioara Avram, Daniel-Costin Avram
Rezumat: The Directive 2006/43/CE regarding the statutary audit of the annual accounts and the funded consolidated accounts gets the power of an actual law from the moment of its inclusion in the national legislation, respectively for Romania from the end of June 2008. The banks will be between the economic entities of public importance compelled to respect this norm. The article presents some of the obligations of the bank sistem and the audit firms starting with the second half of 2008. At present we may say that our country is setting its time for adhesion to international accounting procedures by a convergence process. Bank appreisal in a competitive and volatile market environment is a complex process wich normally centers around the analysis of particular aspects, including risk profile and management, financial statements, portofolio structure and quality policies and practicies, human resources, and information capacity
Cuvinte cheie: Directive, Statuary Audit, Audit Committee, Internal Control, Financial Statements
Cod JEL: G21 G10 E40
Text complet
Paginatie: 644-648
Titlul lucrarii: FINANCIAL INTEGRATION OF NEW EU MEMBER STATES AND FOREIGN BANKS
Autor(i): Baicu Claudia
Rezumat: Starting from the idea that foreign banks which have invested in Central and Eastern Europe have an important role in raising the financial integration of the banking systems from the region with banking systems from Western Europe, this paper has two parts closely connected. The first part emphasises the main factors which determined Western banks to extend their activity to the Eastern part of the continent. The second part refers to the implications that foreign banks have on Central and Eastern Europe, positive aspects as well negative aspects being underlined.
Cuvinte cheie: foreign banks, banking systems in Central and Eastern Europe, European financial integration, European Union
Cod JEL: E58 G21 E52
Autor(i): Baicu Claudia
Rezumat: Starting from the idea that foreign banks which have invested in Central and Eastern Europe have an important role in raising the financial integration of the banking systems from the region with banking systems from Western Europe, this paper has two parts closely connected. The first part emphasises the main factors which determined Western banks to extend their activity to the Eastern part of the continent. The second part refers to the implications that foreign banks have on Central and Eastern Europe, positive aspects as well negative aspects being underlined.
Cuvinte cheie: foreign banks, banking systems in Central and Eastern Europe, European financial integration, European Union
Cod JEL: E58 G21 E52
Text complet
Paginatie: 649-654
Titlul lucrarii: INSTITUTIONAL HETEROGENEITY, IMPEDIMENT OF THE EUROPEAN MORTGAGE MARKET INTEGRATION ?
Autor(i): Barbu Teodora, Boitan Iustina Alina
Rezumat: Real assets, represented by residential properties, hold about half of the tangible capital in developed countries. Consequently, mortgage market, which assigns the market for financing real assets, is a key component of the financial market. Because of this importance, the mortgage marketТs efficiency is considered to be a key factor of the financial marketТs efficiency. In particular, a weak functioning of the former is believed Дto polluteФ other components of financial market. The article is meant to emphasize, for the euro area, those institutional characteristics that maintain the national mortgage marketsТ heterogeneity. In this way, we have identified the presence of heterogeneity both in terms of mortgage products features (essential from the viewpoint of mortgage market integration) and of consumers preferences (influenced mainly by demographic factors). Also, we question about the possible implications of mortgage marketТs expansion to the monetary policy and financial stability.
Cuvinte cheie: mortgage products, mortgage debt, institutional heterogeneity, financial integration
Cod JEL: E36 G15
Autor(i): Barbu Teodora, Boitan Iustina Alina
Rezumat: Real assets, represented by residential properties, hold about half of the tangible capital in developed countries. Consequently, mortgage market, which assigns the market for financing real assets, is a key component of the financial market. Because of this importance, the mortgage marketТs efficiency is considered to be a key factor of the financial marketТs efficiency. In particular, a weak functioning of the former is believed Дto polluteФ other components of financial market. The article is meant to emphasize, for the euro area, those institutional characteristics that maintain the national mortgage marketsТ heterogeneity. In this way, we have identified the presence of heterogeneity both in terms of mortgage products features (essential from the viewpoint of mortgage market integration) and of consumers preferences (influenced mainly by demographic factors). Also, we question about the possible implications of mortgage marketТs expansion to the monetary policy and financial stability.
Cuvinte cheie: mortgage products, mortgage debt, institutional heterogeneity, financial integration
Cod JEL: E36 G15
Text complet
Paginatie: 655-660
Titlul lucrarii: THE NECESSITY OF OPERATIONAL RISK MANAGEMENT AND QUANTIFICATION
Autor(i): Barbu Teodora Cristina, Olteanu (puiu) Ana Cornelia, Radu Alina Nicoleta
Rezumat: Beginning with the fact that performant strategies of the financial institutions have programmes and management procedures for the banking risks, which have as main objective to minimize the probability of risk generation and the bankТs potential exposure, this paper wants to present the operational risk management and quantification methods. Also it presents the modality of minimum capital requirement for the operational risk. Therefore, the first part presents the conceptual approach of the operational risks through the point of view of the financial institutions exposed to this type of risk. The second part describes the management and evaluation methods for the operational risk. The final part of this article presents the approach assumed by a financial institution with a precise purpose: the quantification of the minimum capital requirements of the operational risk.
Cuvinte cheie: Operational risk, operational risk profile, standard approach, gross income, administrative general expenses
Cod JEL: G15 D80 G21
Autor(i): Barbu Teodora Cristina, Olteanu (puiu) Ana Cornelia, Radu Alina Nicoleta
Rezumat: Beginning with the fact that performant strategies of the financial institutions have programmes and management procedures for the banking risks, which have as main objective to minimize the probability of risk generation and the bankТs potential exposure, this paper wants to present the operational risk management and quantification methods. Also it presents the modality of minimum capital requirement for the operational risk. Therefore, the first part presents the conceptual approach of the operational risks through the point of view of the financial institutions exposed to this type of risk. The second part describes the management and evaluation methods for the operational risk. The final part of this article presents the approach assumed by a financial institution with a precise purpose: the quantification of the minimum capital requirements of the operational risk.
Cuvinte cheie: Operational risk, operational risk profile, standard approach, gross income, administrative general expenses
Cod JEL: G15 D80 G21
Text complet
Paginatie: 661-667
Titlul lucrarii: STABILITY OF THE EXCHANGE MARKET IN ROMANIA, IN THE PERSPECTIVE OF JOINING THE ERM II
Autor(i): Barglazan Diana
Rezumat: Romania joined the European Union last year and now it is preparing to join the ERM II. The paper is investigating the recent evolution of the exchange rate leu/euro and its compatibility with a future participation to the ERM II. The findings show that while the exchange rate evolution was not very smoothly in the last few years, the stability of the exchange market was high enough and Romania does not seem to encounter any problems concerning a future participation to the ERM II. The forecasts for the next years confirm the maturity of our exchange market and its capacity of maintaining the exchange rate sufficiently stable so that Romania might achieve its objectives in terms of euro adoption.
Cuvinte cheie: stability, exchange rate, ERM II
Cod JEL: F31 G21 G15
Autor(i): Barglazan Diana
Rezumat: Romania joined the European Union last year and now it is preparing to join the ERM II. The paper is investigating the recent evolution of the exchange rate leu/euro and its compatibility with a future participation to the ERM II. The findings show that while the exchange rate evolution was not very smoothly in the last few years, the stability of the exchange market was high enough and Romania does not seem to encounter any problems concerning a future participation to the ERM II. The forecasts for the next years confirm the maturity of our exchange market and its capacity of maintaining the exchange rate sufficiently stable so that Romania might achieve its objectives in terms of euro adoption.
Cuvinte cheie: stability, exchange rate, ERM II
Cod JEL: F31 G21 G15
Text complet
Paginatie: 668-673
Titlul lucrarii: PROVISIONS SYSTEM – METHOD FOR PREVENTING CREDIT RISK IN BANKS
Autor(i): BÑ‚ce Grigore
Rezumat: In the paper the author shows the modalities of preventing credit risk in financial institutions, based on provisions method.
Cuvinte cheie: provisions, protection at risk, credits classify
Cod JEL: G80 E50
Autor(i): BÑ‚ce Grigore
Rezumat: In the paper the author shows the modalities of preventing credit risk in financial institutions, based on provisions method.
Cuvinte cheie: provisions, protection at risk, credits classify
Cod JEL: G80 E50
Text complet
Paginatie: 674-678
Titlul lucrarii: BASEL II CREDIT RISK MANAGEMENT AGREEMENT
Autor(i): BÑ‚ce Grigore
Rezumat: In the paper the author show the modalities of financing the companies taking into account Basel II Agreement.
Cuvinte cheie: capital adequacy, currency mismatch, haircut
Cod JEL: G80 G81 G21
Autor(i): BÑ‚ce Grigore
Rezumat: In the paper the author show the modalities of financing the companies taking into account Basel II Agreement.
Cuvinte cheie: capital adequacy, currency mismatch, haircut
Cod JEL: G80 G81 G21
Text complet
Paginatie: 679-684
Titlul lucrarii: THE IMPACT OF EUROPEAN INTEGRATION ON THE PAYMENT SYSTEM
Autor(i): Beju Daniela Georgeta, Filip Angela Maria
Rezumat: The introduction of euro in 2002 led to the creation of a single УdomesticФ market for cash retail payments in euro. In order to create a single market for cashless payments as well, the European banking community, ahead by European Council Payments, has launched the Single European Payments Area project (SEPA) in 2002. The project designed new payment schemes for credit transfer and direct debit, as well as a card payments framework. SEPA credit transfer scheme was officially launched on 28 January 2008. The whole project is expected to be implemented by the end of 2010. In this paper we refer to the necessity of introduction of this ambitious project, to the essential features of its components and to its overall economic impact. We also discus the challenges of Romanian payment system generated by the implementation of SEPA.
Cuvinte cheie: payment system, Single European Payments Area, Romanian payment system
Cod JEL: G13 J33 G21
Autor(i): Beju Daniela Georgeta, Filip Angela Maria
Rezumat: The introduction of euro in 2002 led to the creation of a single УdomesticФ market for cash retail payments in euro. In order to create a single market for cashless payments as well, the European banking community, ahead by European Council Payments, has launched the Single European Payments Area project (SEPA) in 2002. The project designed new payment schemes for credit transfer and direct debit, as well as a card payments framework. SEPA credit transfer scheme was officially launched on 28 January 2008. The whole project is expected to be implemented by the end of 2010. In this paper we refer to the necessity of introduction of this ambitious project, to the essential features of its components and to its overall economic impact. We also discus the challenges of Romanian payment system generated by the implementation of SEPA.
Cuvinte cheie: payment system, Single European Payments Area, Romanian payment system
Cod JEL: G13 J33 G21
Text complet
Paginatie: 685-690
Titlul lucrarii: LABOUR FORCE AN IMPORTANT FACTOR IN A BANK SYSTEM
Autor(i): Breje Cristina
Rezumat: Labour force in banking system is a priceless active, has a special role in the success, performance and competitive of a bank.. Human resources is a complex, canТt be easy measured, for being efficient it asks from the organization a standing effort of support and development.
Establishing the right policies, determining necessary abilities, finding candidates, elaborating registration forms, and also interviewing human resources has an important role to find Уthe right person for the right jobФ.
Generally, the feeling of affiliation to a company is related with activity satisfaction which the employer is doing and with reward system offered by company.
Bank employers are the most important clients. In the present there is a crisis of human resources in the banking system because of the fact that this sector is full expansion. For covering the necessary human resources , the banks reach several methods to attract the potential employers.
Cuvinte cheie: Banks, labour force, human resources
Cod JEL: G21 J53
Autor(i): Breje Cristina
Rezumat: Labour force in banking system is a priceless active, has a special role in the success, performance and competitive of a bank.. Human resources is a complex, canТt be easy measured, for being efficient it asks from the organization a standing effort of support and development.
Establishing the right policies, determining necessary abilities, finding candidates, elaborating registration forms, and also interviewing human resources has an important role to find Уthe right person for the right jobФ.
Generally, the feeling of affiliation to a company is related with activity satisfaction which the employer is doing and with reward system offered by company.
Bank employers are the most important clients. In the present there is a crisis of human resources in the banking system because of the fact that this sector is full expansion. For covering the necessary human resources , the banks reach several methods to attract the potential employers.
Cuvinte cheie: Banks, labour force, human resources
Cod JEL: G21 J53
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Paginatie: 691-694
Titlul lucrarii: CHALLENGES FOR FINANCIAL STABILITY IN THE EUROPEAN UNION
Autor(i): Capraru Bogdan, Stoica Ovidiu
Rezumat: In this study we try to underline the main challenges and perspectives for financial stability and financial surveillance. Our investigations regard the European environment issues. We make some consideration about the advantage and disadvantage of financial integrated supervision in relation with sectorial one. Also, we talk about the controversies concerning the central bank involvement in surveillance process and financial crises management. In the end, we highlight the National Bank of Romania preoccupations for financial stability in the European integration perspective.
Cuvinte cheie: financial stability, European integration, central bank, reform, challenges, perspectives, regulation, financial surveillance
Cod JEL: G18 G21 E58
Autor(i): Capraru Bogdan, Stoica Ovidiu
Rezumat: In this study we try to underline the main challenges and perspectives for financial stability and financial surveillance. Our investigations regard the European environment issues. We make some consideration about the advantage and disadvantage of financial integrated supervision in relation with sectorial one. Also, we talk about the controversies concerning the central bank involvement in surveillance process and financial crises management. In the end, we highlight the National Bank of Romania preoccupations for financial stability in the European integration perspective.
Cuvinte cheie: financial stability, European integration, central bank, reform, challenges, perspectives, regulation, financial surveillance
Cod JEL: G18 G21 E58
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Paginatie: 695-699
Titlul lucrarii: THE ANALYSIS OF THE RISKS AND OF THEIR EFFECTS UPON THE BANKING ACTIVITY
Autor(i): Chirita Irina, Cibotariu Irina
Rezumat: The double role of the banks, independent economically entities, having as objective the maximisation of the profit, in the condition of minimizing the risks, on one hand, and of elements of the banking system, coordinated by the central bank, having as objective the implementing of itТs monetary policy, on the other hand, involves a new dimension of the risk, meaning that the policies carried out by the banks in order to achieve their personal object of activity, may be contradictory with the monetary political measures assessed by the central bank, at a certain moment.
Cuvinte cheie: banking risk, financial decision, solvability, liquidity, crediting risk, the indicators;
Cod JEL: D81 G21 E20
Autor(i): Chirita Irina, Cibotariu Irina
Rezumat: The double role of the banks, independent economically entities, having as objective the maximisation of the profit, in the condition of minimizing the risks, on one hand, and of elements of the banking system, coordinated by the central bank, having as objective the implementing of itТs monetary policy, on the other hand, involves a new dimension of the risk, meaning that the policies carried out by the banks in order to achieve their personal object of activity, may be contradictory with the monetary political measures assessed by the central bank, at a certain moment.
Cuvinte cheie: banking risk, financial decision, solvability, liquidity, crediting risk, the indicators;
Cod JEL: D81 G21 E20
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Paginatie: 700-703
Titlul lucrarii: THE HIGHER CREDIT RYTHM REPRESENTS: FINANCIAL DEVELOPMENT OR ANXIETY REASONS ?
Autor(i): Ciobanu (sireteanu) Elena
Rezumat: The present paper analyses, the causes of nongovernmental credit rapid expansion in Romania, to quantify its implications over financial macroeconomic stability and to identify the solutions of which the authorities dispose, for the counteraction of negative effects concerning this phenomenon.
Financial transitioning is based mainly on the financial deepening and is well conducted with a priority in the moment of refueling the turbulences on the extern markets.
Cuvinte cheie: rapid credit growth, financial and macroeconomic stability, credit risk, prudential supervisory
Cod JEL: F40 E20 G21
Autor(i): Ciobanu (sireteanu) Elena
Rezumat: The present paper analyses, the causes of nongovernmental credit rapid expansion in Romania, to quantify its implications over financial macroeconomic stability and to identify the solutions of which the authorities dispose, for the counteraction of negative effects concerning this phenomenon.
Financial transitioning is based mainly on the financial deepening and is well conducted with a priority in the moment of refueling the turbulences on the extern markets.
Cuvinte cheie: rapid credit growth, financial and macroeconomic stability, credit risk, prudential supervisory
Cod JEL: F40 E20 G21
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Paginatie: 704-708
Titlul lucrarii: PARTICULARITIES OF THE ROMANIAN BANKING SYSTEM IN THE EUROPEAN BANKING SYSTEM
Autor(i): Ciurlуu Loredana
Rezumat: The integration in the European Union does not involve only the economical sector, even if it is the most important, but also a redressing of the other components of the social life, assured by the constant increase of the GIP, of the stopping of the inflation and the reduction of the depreciation of the national currency.
Romania must have a solid bank system, whose action directions must direct to the finalisation of the privatisation process, the harmonisation of the national legislation with the communitarian legislation, the institution of some prudential regulation adequate to the economic environment and the selection of the most dynamic orientation on the market in the competition domain.
Cuvinte cheie: rating system, bank capital regulation, Operational risk; Basel II; capital requirement
Cod JEL: F40 G21 E20
Autor(i): Ciurlуu Loredana
Rezumat: The integration in the European Union does not involve only the economical sector, even if it is the most important, but also a redressing of the other components of the social life, assured by the constant increase of the GIP, of the stopping of the inflation and the reduction of the depreciation of the national currency.
Romania must have a solid bank system, whose action directions must direct to the finalisation of the privatisation process, the harmonisation of the national legislation with the communitarian legislation, the institution of some prudential regulation adequate to the economic environment and the selection of the most dynamic orientation on the market in the competition domain.
Cuvinte cheie: rating system, bank capital regulation, Operational risk; Basel II; capital requirement
Cod JEL: F40 G21 E20
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Paginatie: 709-712
Titlul lucrarii: THE REFORM OF NATIONAL BANK OF ROMANIA AFTER ACCESSION TO EU: CHALLENGES AND PERSPECTIVES
Autor(i): Cocris Vasile, Capraru Bogdan
Rezumat: In January 2007, Romania had become a member of the European Union and the National Bank of Romania a member of The European System of Central Banks (ESCB). This event was a confirmation of the success of Romanian reforms, but, on the other hand, it was a beginning of a new stage in the process of accomplishing the nominal and real convergence conditions, set in the Maastricht Treaty. In this study we have done some considerations about the NBRТs reform performances before and after EU accession and, also, we have talked about the main challenges and perspectives for Romanian central bank in the new economic environment imposed by the integration process.
Cuvinte cheie: European integration, central bank, reform, challenges, perspectives
Cod JEL: E58 E51 F30
Autor(i): Cocris Vasile, Capraru Bogdan
Rezumat: In January 2007, Romania had become a member of the European Union and the National Bank of Romania a member of The European System of Central Banks (ESCB). This event was a confirmation of the success of Romanian reforms, but, on the other hand, it was a beginning of a new stage in the process of accomplishing the nominal and real convergence conditions, set in the Maastricht Treaty. In this study we have done some considerations about the NBRТs reform performances before and after EU accession and, also, we have talked about the main challenges and perspectives for Romanian central bank in the new economic environment imposed by the integration process.
Cuvinte cheie: European integration, central bank, reform, challenges, perspectives
Cod JEL: E58 E51 F30
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Paginatie: 713-718
Titlul lucrarii: JOB SATISFACTION
Autor(i): Corneanu Bogdan Ionut
Rezumat: We live in a highly competitive world, were the success of any organization depends on its human resource. In this way banks are no exceptions. A hard working, loyal, happy employee is no doubt a genuine asset of any organization, including banks. It is important to manage human resource effectively and find out whether its employees are satisfied and so they will be committed in their work, projecting a positive image of the organization, and determining its performance.
Cuvinte cheie: job, banks, satisfaction
Cod JEL: G21 J53 G10
Autor(i): Corneanu Bogdan Ionut
Rezumat: We live in a highly competitive world, were the success of any organization depends on its human resource. In this way banks are no exceptions. A hard working, loyal, happy employee is no doubt a genuine asset of any organization, including banks. It is important to manage human resource effectively and find out whether its employees are satisfied and so they will be committed in their work, projecting a positive image of the organization, and determining its performance.
Cuvinte cheie: job, banks, satisfaction
Cod JEL: G21 J53 G10
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Paginatie: 719-722
Titlul lucrarii: THE NEW TECHNOLOGIES EXTENSION IN BANKING: THE CASE OF E BANKING IN THE ROMANIAN PRACTICE
Autor(i): Danciu Victor
Rezumat: The new technologies in the banking services are part of rapid changes in the way of life and thinking. The banks are aware these new changes are fundamental for their performance improvement. The banks of Romania have rapidly growing and developing e-banking services, especially the Internet information and home and mobile banking. The sites of banks provide specific information, particularly on credit. Moreover, these are some other sites, which are dedicated to credit information. The future of e-banking, services in the Romanian practice depends on how much the banks understand the part these services play in attracting and keeping customers and the easiness of Internet, home, office and mobile access.
Cuvinte cheie: e/banking; Internet banking; home/office banking; mobile banking; Romanian banking system
Cod JEL: L86 G21 G10
Autor(i): Danciu Victor
Rezumat: The new technologies in the banking services are part of rapid changes in the way of life and thinking. The banks are aware these new changes are fundamental for their performance improvement. The banks of Romania have rapidly growing and developing e-banking services, especially the Internet information and home and mobile banking. The sites of banks provide specific information, particularly on credit. Moreover, these are some other sites, which are dedicated to credit information. The future of e-banking, services in the Romanian practice depends on how much the banks understand the part these services play in attracting and keeping customers and the easiness of Internet, home, office and mobile access.
Cuvinte cheie: e/banking; Internet banking; home/office banking; mobile banking; Romanian banking system
Cod JEL: L86 G21 G10
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Paginatie: 723-727
Titlul lucrarii: INSURANCE BROKERAGE IN ROMANIA
Autor(i): Danuletiu Dan-constantin, Danuletiu Adina-elena
Rezumat: The paper highlights the importance of brokerage on insurance market and shows the evolution of this kind of activity in Romania. A few aspects concerning brokerage activity are taken into consideration, stressing on RomaniaТs EU accession impact on brokerage as well as on the essential issues allowing a quantitative analysis of insurance brokerage in Romania. The paper lets the reader see a couple of opportunities as well as a couple of constraints brought by RomaniaТs EU accession to the Romanian brokerage market and the elements momentary braking the development of this activity to its full potential. It also suggests possibilities to support the growth of insurance brokerage.
Cuvinte cheie: Keywords: insurance intermediary, insurance broker, insurance agent
Cod JEL: E52 G22 G21
Autor(i): Danuletiu Dan-constantin, Danuletiu Adina-elena
Rezumat: The paper highlights the importance of brokerage on insurance market and shows the evolution of this kind of activity in Romania. A few aspects concerning brokerage activity are taken into consideration, stressing on RomaniaТs EU accession impact on brokerage as well as on the essential issues allowing a quantitative analysis of insurance brokerage in Romania. The paper lets the reader see a couple of opportunities as well as a couple of constraints brought by RomaniaТs EU accession to the Romanian brokerage market and the elements momentary braking the development of this activity to its full potential. It also suggests possibilities to support the growth of insurance brokerage.
Cuvinte cheie: Keywords: insurance intermediary, insurance broker, insurance agent
Cod JEL: E52 G22 G21
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Paginatie: 728-733
Titlul lucrarii: A NEW CRISIS OF HUMAN RESOURCES MANAGEMENT IN THE ROMANIAN BANKING SYSTEM
Autor(i): Dinculescu Elena – Silvia, Micuda Dan, Ducu Corina
Rezumat: Due to the fast market growth and due to the stiff competition, lately we have been experiencing a great demand for banking activity experts. Beginning with the demand and offer game, the migration of skilled manpower from one bank to another is quite high and each employer in the banking system would like to be able to implement a human resources management that would allow them to stabilize the manpower, to obtaining loyalty of the best employees, to reduce new staff training costs. The foreign agents of the banks claim that Romania is not the only one who is going through such a crisis, which will last at least two or three more years.
Cuvinte cheie: Keywords: Crisis, human resources management, banking system
Cod JEL: J53 G21
Autor(i): Dinculescu Elena – Silvia, Micuda Dan, Ducu Corina
Rezumat: Due to the fast market growth and due to the stiff competition, lately we have been experiencing a great demand for banking activity experts. Beginning with the demand and offer game, the migration of skilled manpower from one bank to another is quite high and each employer in the banking system would like to be able to implement a human resources management that would allow them to stabilize the manpower, to obtaining loyalty of the best employees, to reduce new staff training costs. The foreign agents of the banks claim that Romania is not the only one who is going through such a crisis, which will last at least two or three more years.
Cuvinte cheie: Keywords: Crisis, human resources management, banking system
Cod JEL: J53 G21
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Paginatie: 734-737
Titlul lucrarii: THE EFFICIENCY OF THE INTERBANK PAYMENTS SYSTEM IN ROMANIA WITHIN THE FRAMEWORK OF THE EUROSYSTEM
Autor(i): Domnisoru Sorin, Cristea Mirela, Dracea Raluca
Rezumat: In this article we aim at drawing up a concise presentation of the electronic payment system in our country combined with assessments of this system aligned to the European UnionТs from the point of view of functionalities as well as respecting European and international standards and practices in the field. Interbank real time settlement system in Romania is structured in order to be compatible with similar infrastructures in the European Union member states, Single Euro Payments Area. Payments handling will be simplified as all incoming and outgoing payments will use the same format.By providing new payment instruments and common interoperable infrastructures, SEPA will bring about further European integration and market efficiency.
Cuvinte cheie: interbank payments, electronic system, Eurosystem, efficiency
Cod JEL: L86 F20 G21
Autor(i): Domnisoru Sorin, Cristea Mirela, Dracea Raluca
Rezumat: In this article we aim at drawing up a concise presentation of the electronic payment system in our country combined with assessments of this system aligned to the European UnionТs from the point of view of functionalities as well as respecting European and international standards and practices in the field. Interbank real time settlement system in Romania is structured in order to be compatible with similar infrastructures in the European Union member states, Single Euro Payments Area. Payments handling will be simplified as all incoming and outgoing payments will use the same format.By providing new payment instruments and common interoperable infrastructures, SEPA will bring about further European integration and market efficiency.
Cuvinte cheie: interbank payments, electronic system, Eurosystem, efficiency
Cod JEL: L86 F20 G21
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Paginatie: 738-742
Titlul lucrarii: THE RELATIONSHIP BETWEEN ELECTRONIC MONEY AND FREE BANKING
Autor(i): Dumiter Florin – Cornel, Boglea Vanina – Adoriana
Rezumat: Abstract. This paper is focused on the relationship between e – money and free banking percepts. The discussion details how e – money helps to address three main aspects of the free banking debate: the lender of last resort function, currency backing and multiplicity of currencies. In this article we have focus on possible implication for the future central banking, rather than predicting radical change to the current monetary policy framework. If the incumbent central banks could be let to behave in a way, which would make their currencies as attractive as those, produced by the private sector, the benefits of the free banking system may be attained even without displacing current institution or currencies.
Cuvinte cheie: free banking, account based electronic payment systems, e-money, currency backing, multiplicity of currencies.
Cod JEL: G21 L86 F20
Autor(i): Dumiter Florin – Cornel, Boglea Vanina – Adoriana
Rezumat: Abstract. This paper is focused on the relationship between e – money and free banking percepts. The discussion details how e – money helps to address three main aspects of the free banking debate: the lender of last resort function, currency backing and multiplicity of currencies. In this article we have focus on possible implication for the future central banking, rather than predicting radical change to the current monetary policy framework. If the incumbent central banks could be let to behave in a way, which would make their currencies as attractive as those, produced by the private sector, the benefits of the free banking system may be attained even without displacing current institution or currencies.
Cuvinte cheie: free banking, account based electronic payment systems, e-money, currency backing, multiplicity of currencies.
Cod JEL: G21 L86 F20
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Paginatie: 743-748
Titlul lucrarii: PARTICULARITIES OF THE FRENCH BANKING SYSTEMТS EVOLUTION
Autor(i): Fat Codruta Maria, Ienciu Adrian Zoicas
Rezumat: During its evolution, the French banking system registered the passing from a bank under the absolute control of the state to a bank that meets the customersТ needs. In this work, we try to emphasize the switch from the extreme specialization of the banking activities which characterized the universal bank during the period precursory to WWII, as the modern bank is in a continuous adaptation to the marketТs needs.
Cuvinte cheie: specialization, resettlement, universal bank
Cod JEL: E58 F30 G21
Autor(i): Fat Codruta Maria, Ienciu Adrian Zoicas
Rezumat: During its evolution, the French banking system registered the passing from a bank under the absolute control of the state to a bank that meets the customersТ needs. In this work, we try to emphasize the switch from the extreme specialization of the banking activities which characterized the universal bank during the period precursory to WWII, as the modern bank is in a continuous adaptation to the marketТs needs.
Cuvinte cheie: specialization, resettlement, universal bank
Cod JEL: E58 F30 G21
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Paginatie: 749-752
Titlul lucrarii: INTERNAL RATING MODELS FOR CREDIT RISK EVALUATION AND SUPPORT INSTRUMENTS
Autor(i): Ganea Tudor Alexandru, Ciobanasu Marilena
Rezumat: This article approaches the necessity of designing internal models of rating, in order to evaluate and manage credit risk. The authors address in equal measure the credit institutions, the Romanian legal entities, the Romanian branches of the credit institutions from third-party states, their potential customers, whether individual persons or legal entities, as well as the whole academic community in the finance-banking field. The internal rating models can be used to calculate the risk weight value of exposures, in order to determine the minimum capital requirements for credit risk, in accordance to government ordinance no. 99/2006, supplemented and modified by the Law no. 227/ 04.07.2007. By means of the internal rating models, we could achieve the following goals: pertinent evaluation of debtor characteristics; use of the computer system in risk evaluation within the decisional process of credit approval, internal allocation of capital and corporate governance of the credit institution.
Cuvinte cheie: Internal rating models, risk management, corporate governance, credit risk, IT instruments
Cod JEL: L86 D40 G34
Autor(i): Ganea Tudor Alexandru, Ciobanasu Marilena
Rezumat: This article approaches the necessity of designing internal models of rating, in order to evaluate and manage credit risk. The authors address in equal measure the credit institutions, the Romanian legal entities, the Romanian branches of the credit institutions from third-party states, their potential customers, whether individual persons or legal entities, as well as the whole academic community in the finance-banking field. The internal rating models can be used to calculate the risk weight value of exposures, in order to determine the minimum capital requirements for credit risk, in accordance to government ordinance no. 99/2006, supplemented and modified by the Law no. 227/ 04.07.2007. By means of the internal rating models, we could achieve the following goals: pertinent evaluation of debtor characteristics; use of the computer system in risk evaluation within the decisional process of credit approval, internal allocation of capital and corporate governance of the credit institution.
Cuvinte cheie: Internal rating models, risk management, corporate governance, credit risk, IT instruments
Cod JEL: L86 D40 G34
Text complet
Paginatie: 753-755
Titlul lucrarii: WEB PORTAL SPECIALIZED IN EDUCATION AND FINANCIAL ASSISTANCE FOR BANKING PRODUCT AND SERVICE CONSUMERS
Autor(i): Ganea Tudor Alexandru, Voiculescu Madalina Irena
Rezumat: The financial system of our country is going through a process of continual consolidation and development, based on an entire array of opportunities and meeting multiple challenges in equal measure. One of the most important challenges stems from the implementation of the Basel II standard, which has an influence both on the functioning of the credit institutions and on the National Bank, as a monitoring body. Although many bank customers are fully aware of the fact that saving, investing and anticipating future evolutions have an essential impact on their life quality and financial security, they do not posess, in most cases, the necessary knowledge and information to effectively manage these elements. The main scope of the present article is trying to make the academic environment aware of the necessity of creating and providing for free all the instruments the public requires in order to effectively manage their own financial resources.
Cuvinte cheie: web portal, education and financial assistance, banking products and services
Cod JEL: L86 G21 F20
Autor(i): Ganea Tudor Alexandru, Voiculescu Madalina Irena
Rezumat: The financial system of our country is going through a process of continual consolidation and development, based on an entire array of opportunities and meeting multiple challenges in equal measure. One of the most important challenges stems from the implementation of the Basel II standard, which has an influence both on the functioning of the credit institutions and on the National Bank, as a monitoring body. Although many bank customers are fully aware of the fact that saving, investing and anticipating future evolutions have an essential impact on their life quality and financial security, they do not posess, in most cases, the necessary knowledge and information to effectively manage these elements. The main scope of the present article is trying to make the academic environment aware of the necessity of creating and providing for free all the instruments the public requires in order to effectively manage their own financial resources.
Cuvinte cheie: web portal, education and financial assistance, banking products and services
Cod JEL: L86 G21 F20
Text complet
Paginatie: 756-759
Titlul lucrarii: THE COMPETITION IN ROMANIAN BANKS
Autor(i): Harangus Daniela
Rezumat: The banks, as large financial intermediaries, are themselves placed in a global environment. Globalization will bring about a new online economic world, the so-called cyber-economics, a world in which competition in the banking sector acquires new dimensions and features. In Romania, the banking system was organized on modern basis, on the occidental performance principle. Competition in Romanian banks led to the approach of a new dimension in the client relations management, to an increase of the innovative role and to the regulation of bank management, the role of the bank informatics and to the re-organizing and efficiency of some bank activities. The emergence of new foreign bank societies on the Romanian market led to the assignment of the banking system on a new corridor of performance, due to the intensification of competition and the increase of offer for new complex bank services and products for the clients.
Cuvinte cheie: Romanian banking system, competition and regulation, the new dimension of the bank- client relation, bank activities performance.
Cod JEL: G20 E50
Autor(i): Harangus Daniela
Rezumat: The banks, as large financial intermediaries, are themselves placed in a global environment. Globalization will bring about a new online economic world, the so-called cyber-economics, a world in which competition in the banking sector acquires new dimensions and features. In Romania, the banking system was organized on modern basis, on the occidental performance principle. Competition in Romanian banks led to the approach of a new dimension in the client relations management, to an increase of the innovative role and to the regulation of bank management, the role of the bank informatics and to the re-organizing and efficiency of some bank activities. The emergence of new foreign bank societies on the Romanian market led to the assignment of the banking system on a new corridor of performance, due to the intensification of competition and the increase of offer for new complex bank services and products for the clients.
Cuvinte cheie: Romanian banking system, competition and regulation, the new dimension of the bank- client relation, bank activities performance.
Cod JEL: G20 E50
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Paginatie: 760-762
Titlul lucrarii: THE NEW DIMENSION OF BANKING KNOWLEDGE IN THE GLOBAL ECONOMY
Autor(i): Harangus Daniela
Rezumat: The diversity and complexity of banking activities have emphasised the role and the importance of knowledge in the banking domain. This new online economic world has led to an exponential development of banking knowledge. Being the most disciplined financial entities, the banks are especially interested in banking knowledge. This is not limited only to the knowledge of work norms and banking procedures, to the use of algorithms for calculation of financial banking indicators. In this IT era, the diplomatic and psychological dimensions of banking knowledge have been developed. There are three main types of knowledge: factual knowledge, practical knowledge and knowledge by acquaintance. Banking knowledge also represents a source of risk prevention, and especially fraud risk. In the global economy, banking knowledge has acquired new dimensions.
Cuvinte cheie: banking knowledge, global economy, banking information, global markets
Cod JEL: F02 G21 F30
Autor(i): Harangus Daniela
Rezumat: The diversity and complexity of banking activities have emphasised the role and the importance of knowledge in the banking domain. This new online economic world has led to an exponential development of banking knowledge. Being the most disciplined financial entities, the banks are especially interested in banking knowledge. This is not limited only to the knowledge of work norms and banking procedures, to the use of algorithms for calculation of financial banking indicators. In this IT era, the diplomatic and psychological dimensions of banking knowledge have been developed. There are three main types of knowledge: factual knowledge, practical knowledge and knowledge by acquaintance. Banking knowledge also represents a source of risk prevention, and especially fraud risk. In the global economy, banking knowledge has acquired new dimensions.
Cuvinte cheie: banking knowledge, global economy, banking information, global markets
Cod JEL: F02 G21 F30
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Paginatie: 763-765
Titlul lucrarii: TARGET 2 – THE NEW EU INOVATION AND TRANSFORMATION RTGS SYSTEM
Autor(i): Herbei Marius, Dumiter Florin – Cornel
Rezumat: Abstract. Since it inception TARGET has formed a benchmark for processing euro payments in terms of speed, reliability, opening times and service level, and has contributed to the harmonization of business practices in the European Union. TARGET 2 is on track from 19 November 2007. In TARGET 2, all banks in the EU, irrespective of where they are located will be offered high – quality services, functionality and interfaces, as well as a single price structure. This will level out the playing field for banks across Europe. TARGET 2 will ultimately benefit from, and evolve with, its usersТ expectations and requirements.
Cuvinte cheie: single technical platform, flexible liquidity management services, operational day, multi – addressee access, core pricing scheme, migration groups.
Cod JEL: O31 G21 F30
Autor(i): Herbei Marius, Dumiter Florin – Cornel
Rezumat: Abstract. Since it inception TARGET has formed a benchmark for processing euro payments in terms of speed, reliability, opening times and service level, and has contributed to the harmonization of business practices in the European Union. TARGET 2 is on track from 19 November 2007. In TARGET 2, all banks in the EU, irrespective of where they are located will be offered high – quality services, functionality and interfaces, as well as a single price structure. This will level out the playing field for banks across Europe. TARGET 2 will ultimately benefit from, and evolve with, its usersТ expectations and requirements.
Cuvinte cheie: single technical platform, flexible liquidity management services, operational day, multi – addressee access, core pricing scheme, migration groups.
Cod JEL: O31 G21 F30
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Paginatie: 766-772
Titlul lucrarii: THE DURABLE CREDITING AND THE MANAGEMENT OF CAPITALIZATION
Autor(i): Ilie Dragos, Popescu Mihaela, Bica Elena
Rezumat: Summary: Undercapitalization and undercrediting of the national economy in the period of transition to the market economy necessarily requires the strengthening of the role of credit as a genuine factor of growth and increase of the productive capitals. The financing of the capitalization process becomes more valuable in the present stage of our country development, imposing itself as an objective need. It is thus compulsive to define a new concept in the speciality literature, namely the concept of “durable crediting” according to which the credit must have as a main goal the capitalization of the national economy which, in its turn could constitute an essential condition for a durable future crediting. The starting point in supporting and defining this concept underlines the importance of the capital in all economic processes.
Cuvinte cheie: durable crediting, capitalization, capital suitability, management of capitalization
Cod JEL: F32 G21 G10
Autor(i): Ilie Dragos, Popescu Mihaela, Bica Elena
Rezumat: Summary: Undercapitalization and undercrediting of the national economy in the period of transition to the market economy necessarily requires the strengthening of the role of credit as a genuine factor of growth and increase of the productive capitals. The financing of the capitalization process becomes more valuable in the present stage of our country development, imposing itself as an objective need. It is thus compulsive to define a new concept in the speciality literature, namely the concept of “durable crediting” according to which the credit must have as a main goal the capitalization of the national economy which, in its turn could constitute an essential condition for a durable future crediting. The starting point in supporting and defining this concept underlines the importance of the capital in all economic processes.
Cuvinte cheie: durable crediting, capitalization, capital suitability, management of capitalization
Cod JEL: F32 G21 G10
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Paginatie: 773-777
Titlul lucrarii: BANK GUARANTEES IN THE DEVELOPMENT OF COMMERCIAL RELATIONSHIP BETWEEN ROMANIA AND EUROPEAN UNION
Autor(i): Ilie Dragos, Militaru Petrisor, Cocosila Gabriela Mihaela
Rezumat: Summary: In the context of European integration, the development of economical and commercial changes between Romania and European states must be sustained especially by bank system. The apparition of Romanian companies on European markets, the developments of imports and the common realization of some productivity objectives are impossible without the guarantees offered by the bank system. Because of emission guarantee letters in the name and the count of the clients, the banks assure practically the unrolling of transactions without an effective finance, assuming an entire risk which results from the encroaching upon the obligation of the contract between partners. The guarantee interferes just in the moment of participating to auction about the contracting of different works or about the realization of some imports and it is ending with the final act of using the goods by the beneficiaries.
Cuvinte cheie: Guarantee bank letters, extra balance sheets engagements, downstream, executing guarantees, provisions
Cod JEL: O31 G21 G30
Autor(i): Ilie Dragos, Militaru Petrisor, Cocosila Gabriela Mihaela
Rezumat: Summary: In the context of European integration, the development of economical and commercial changes between Romania and European states must be sustained especially by bank system. The apparition of Romanian companies on European markets, the developments of imports and the common realization of some productivity objectives are impossible without the guarantees offered by the bank system. Because of emission guarantee letters in the name and the count of the clients, the banks assure practically the unrolling of transactions without an effective finance, assuming an entire risk which results from the encroaching upon the obligation of the contract between partners. The guarantee interferes just in the moment of participating to auction about the contracting of different works or about the realization of some imports and it is ending with the final act of using the goods by the beneficiaries.
Cuvinte cheie: Guarantee bank letters, extra balance sheets engagements, downstream, executing guarantees, provisions
Cod JEL: O31 G21 G30
Text complet
Paginatie: 778-783
Titlul lucrarii: THE RELATIONSHIP BETWEEN THE BANKING LEGAL ENVIRONMENT CHARACTERISTICS AND BANKING RISK MANAGEMENT ACTIVITIES
Autor(i): Iuga Iulia
Rezumat: The role of the financial intermediaries such as banks is that to channel savings towards investors. In a modern economy banks do this by maintaining a delicate balance between risk taking and risk management. Our goal here is to examine the relationship between bank risk taking and risk management activities and the quality of the legal environment. Examining this relation is interesting because theoretical studies in this direction are ambiguous and this can be proved by considering the role of the collateral, a very widely spread and widely used risk amelioration mechanism.
Cuvinte cheie: banking legal environment, risk management, transition economies
Cod JEL: G20 G30 F30
Autor(i): Iuga Iulia
Rezumat: The role of the financial intermediaries such as banks is that to channel savings towards investors. In a modern economy banks do this by maintaining a delicate balance between risk taking and risk management. Our goal here is to examine the relationship between bank risk taking and risk management activities and the quality of the legal environment. Examining this relation is interesting because theoretical studies in this direction are ambiguous and this can be proved by considering the role of the collateral, a very widely spread and widely used risk amelioration mechanism.
Cuvinte cheie: banking legal environment, risk management, transition economies
Cod JEL: G20 G30 F30
Text complet
Paginatie: 784-789
Titlul lucrarii: SPECIAL LETTER OF CREDIT ARRANGEMENTS
Autor(i): Ivan Mihail Vincentiu
Rezumat: Commercial letters of credit facilitate the movement of goods into the channels of trade. A letter of credit is a written undertaking by a bank (issuing bank), acting at the request and on the instructions of its customer (applicant for the credit) to make payment to, or to the order of, a third party (the beneficiary).
For a credit to be transferable, the exporter must arrange for the importer to have a credit opened expressly stipulating that is transferable. A beneficiary may require financing in order to complete the manufacturing of merchandise or to purchase items to fill a particular order. A red clause credit helps achieve this.The applicant and beneficiary may wish to have a letter of credit structured to satisfy a long term contract requiring the constant supply of merchandise over a specific time period. This can be accomplished with a revolving letter of credit.
Cuvinte cheie: letter of credit, issuing bank, advising bank, payments, negotiation
Cod JEL: G20 F20
Autor(i): Ivan Mihail Vincentiu
Rezumat: Commercial letters of credit facilitate the movement of goods into the channels of trade. A letter of credit is a written undertaking by a bank (issuing bank), acting at the request and on the instructions of its customer (applicant for the credit) to make payment to, or to the order of, a third party (the beneficiary).
For a credit to be transferable, the exporter must arrange for the importer to have a credit opened expressly stipulating that is transferable. A beneficiary may require financing in order to complete the manufacturing of merchandise or to purchase items to fill a particular order. A red clause credit helps achieve this.The applicant and beneficiary may wish to have a letter of credit structured to satisfy a long term contract requiring the constant supply of merchandise over a specific time period. This can be accomplished with a revolving letter of credit.
Cuvinte cheie: letter of credit, issuing bank, advising bank, payments, negotiation
Cod JEL: G20 F20
Text complet
Paginatie: 790-794
Titlul lucrarii: LA PROTECTION ET LA SECURITE DES TRANSACTIONS DANS UNE RESEAU INFORMATIQUE INTERBANCAIRE
Autor(i): Mihalcescu Cezar, Ciolacu Beatrice, Pavel Florentina, Titrade Cristina
Rezumat: Les transactions щlectroniques deviennent de plus en plus complexes, grтce au systшme qui se dщveloppe de maniшre permanente, aux technologies dТщquipements et aux logiciels, ainsi quТр lТenvironnement virtuel dans lequel ils opшrent (Internet ou Rщseaux р Valeur Ajoutщe). La valeur de lТinformation sТappuie sur son intщgritщ et, dans le cas o∙ le systшme de sщcuritщ ne permet pas la rщalisation de cette demande, lТinformation va perdre sa signification.
Les institutions financiшres utilisent des jetons dТauthentification gщnщrateurs de mots de passe pour identifier les clients commerciaux afin de permettre lТaccшs р distance au systшme des opщrations via Internet. LТinfrastructure de clщ publique (PKI) peut incorporer des cartes р puces intelligentes qui contiennent lТaccrщditation de lТutilisateur et un certificat numщrique
Cuvinte cheie: sщcuritщ щlectronique, lТinformation, e-banking
Cod JEL: G21 F20
Autor(i): Mihalcescu Cezar, Ciolacu Beatrice, Pavel Florentina, Titrade Cristina
Rezumat: Les transactions щlectroniques deviennent de plus en plus complexes, grтce au systшme qui se dщveloppe de maniшre permanente, aux technologies dТщquipements et aux logiciels, ainsi quТр lТenvironnement virtuel dans lequel ils opшrent (Internet ou Rщseaux р Valeur Ajoutщe). La valeur de lТinformation sТappuie sur son intщgritщ et, dans le cas o∙ le systшme de sщcuritщ ne permet pas la rщalisation de cette demande, lТinformation va perdre sa signification.
Les institutions financiшres utilisent des jetons dТauthentification gщnщrateurs de mots de passe pour identifier les clients commerciaux afin de permettre lТaccшs р distance au systшme des opщrations via Internet. LТinfrastructure de clщ publique (PKI) peut incorporer des cartes р puces intelligentes qui contiennent lТaccrщditation de lТutilisateur et un certificat numщrique
Cuvinte cheie: sщcuritщ щlectronique, lТinformation, e-banking
Cod JEL: G21 F20
Text complet
Paginatie: 795-802
Titlul lucrarii: THE DEVELOPMENT OF FACTORING SERVICES IN ROMANIA. ANALYSES, EVOLUTIONS, POSITION IN EUROPE
Autor(i): Munteanu Irena, Popovici Norina
Rezumat: RomaniaТs adhesion to the EU has lead to changes in the economy and implicitly in the banking system. The steps prior to adhesion consisted in adapting the Romanian banking system to the European norms. The Romanian factoring market has developed by several credit institutions. The advantages of factoring for the adherent and factor recommend this service as a modern financing, crediting and risk management tool. The present study is an analysis of the evolution of factoring in Romania, starting from the worldwide and European tendencies. By comparisons there will be established the position of Romania on the EU factoring market. The sources of the data processed in the research are Factor Chain International and publications of Romanian financial institutions. By its outcomes, the research is useful to the participants on the financial and credit market, to the academic environment and to economists concerned in this field.
Cuvinte cheie: Internal factoring, external factoring, regress factoring, debts management
Cod JEL: L86 G21 G10
Autor(i): Munteanu Irena, Popovici Norina
Rezumat: RomaniaТs adhesion to the EU has lead to changes in the economy and implicitly in the banking system. The steps prior to adhesion consisted in adapting the Romanian banking system to the European norms. The Romanian factoring market has developed by several credit institutions. The advantages of factoring for the adherent and factor recommend this service as a modern financing, crediting and risk management tool. The present study is an analysis of the evolution of factoring in Romania, starting from the worldwide and European tendencies. By comparisons there will be established the position of Romania on the EU factoring market. The sources of the data processed in the research are Factor Chain International and publications of Romanian financial institutions. By its outcomes, the research is useful to the participants on the financial and credit market, to the academic environment and to economists concerned in this field.
Cuvinte cheie: Internal factoring, external factoring, regress factoring, debts management
Cod JEL: L86 G21 G10
Text complet
Paginatie: 803-808
Titlul lucrarii: LOAN SYNDICATIONS
Autor(i): Ocnean Monica
Rezumat: Syndicated credit agreements are those in which more than one bank agrees to provide a common borrower a credit facility on common terms and conditions. Syndicated lending is among the largest and most flexible sources of capital in the world. There are several types of syndicated credit facilities: revolving credit facility, term loan, bridge loan, standby credit facility, standby letters of credit, hybrid facilities and project financing.
Main factors that influences the credit syndication market are: bank policies (early 1990s banks were under pressure to rebuild capital positions and ensure adequate returns on assets) and cost comparisons (demand for syndicated medium term bank credit facilities is very much driven by comparisons with the cost of alternative source of funding in the public debt markets – bonds issuing). The participants in the loan syndication market are as follows: sovereign borrowers, financial institution, corporations and LBO (leveraged buy out) deal sponsors/funds.
Borrowers main benefits are: speed and flexibility (deals can be tailored to a specific borrower needs, arranged in a matter of weeks, sometimes even days), ease of arrangement (no lengthy SEC registration is required), pricing (more competitive pricing, terms and conditions), bank relationship (structuring it is easier than a private placement for example) and depth of market (substantial amounts of committed funding can be obtained in the bank loan market, on relatively short notice due to many participants in the market).
Lenders main benefits: enhance relationship (a bank may use its ability to arrange syndications to enhance its relationship with a borrower, and cross sell other business opportunities), sharing of credit risk (the overall size of the transaction may be to large to book within one institution or a bank simply wants to limit its concentration of exposure to any one borrower), yield enhancement (a bank may be looking to enhance return on risk assets by arranging the transaction and taking a disproportionate share of associated up-front fees) and source of earnings (it may be a source of earning assets to a bank/investor that may otherwise be unavailable to them).
Cuvinte cheie: Syndicated credit, revolving credit facility, term loan, borrowers pricing, bank ,sharing of credit risk.
Cod JEL: L86 G21 F20
Autor(i): Ocnean Monica
Rezumat: Syndicated credit agreements are those in which more than one bank agrees to provide a common borrower a credit facility on common terms and conditions. Syndicated lending is among the largest and most flexible sources of capital in the world. There are several types of syndicated credit facilities: revolving credit facility, term loan, bridge loan, standby credit facility, standby letters of credit, hybrid facilities and project financing.
Main factors that influences the credit syndication market are: bank policies (early 1990s banks were under pressure to rebuild capital positions and ensure adequate returns on assets) and cost comparisons (demand for syndicated medium term bank credit facilities is very much driven by comparisons with the cost of alternative source of funding in the public debt markets – bonds issuing). The participants in the loan syndication market are as follows: sovereign borrowers, financial institution, corporations and LBO (leveraged buy out) deal sponsors/funds.
Borrowers main benefits are: speed and flexibility (deals can be tailored to a specific borrower needs, arranged in a matter of weeks, sometimes even days), ease of arrangement (no lengthy SEC registration is required), pricing (more competitive pricing, terms and conditions), bank relationship (structuring it is easier than a private placement for example) and depth of market (substantial amounts of committed funding can be obtained in the bank loan market, on relatively short notice due to many participants in the market).
Lenders main benefits: enhance relationship (a bank may use its ability to arrange syndications to enhance its relationship with a borrower, and cross sell other business opportunities), sharing of credit risk (the overall size of the transaction may be to large to book within one institution or a bank simply wants to limit its concentration of exposure to any one borrower), yield enhancement (a bank may be looking to enhance return on risk assets by arranging the transaction and taking a disproportionate share of associated up-front fees) and source of earnings (it may be a source of earning assets to a bank/investor that may otherwise be unavailable to them).
Cuvinte cheie: Syndicated credit, revolving credit facility, term loan, borrowers pricing, bank ,sharing of credit risk.
Cod JEL: L86 G21 F20
Text complet
Paginatie: 809-812
Titlul lucrarii: POSSIBLE MODEL FOR THE PORTOFOLIO RISK EVALUATION
Autor(i): Piciu Gabriela-cornelia
Rezumat: Possible model for the portfolio risk, is the novelty element brought data necessary for the constitution, correction and systemic processing of risk information by the bankТs specialists, such that at their basis they could appreciate the relevant values of the variables associated to the risks and determinant activities.
Cuvinte cheie: matrix instrument,modeling, portofolio risk
Cod JEL: G20 F20
Autor(i): Piciu Gabriela-cornelia
Rezumat: Possible model for the portfolio risk, is the novelty element brought data necessary for the constitution, correction and systemic processing of risk information by the bankТs specialists, such that at their basis they could appreciate the relevant values of the variables associated to the risks and determinant activities.
Cuvinte cheie: matrix instrument,modeling, portofolio risk
Cod JEL: G20 F20
Text complet
Paginatie: 813-818
Titlul lucrarii: LIQUID ASSETS ADMINISTRATION – AN ESSENTIAL ELEMENT OF BALANCE SHEET EQUILIBRIUM
Autor(i): Rascolean Ilie, Slusariuc Gabriela Corina
Rezumat: One of the most important tasks of the management of a bank is to estimate and properly cover the bankТs need of liquid assets. On long term, the profitableness of a bank may be negatively affected in case the bank detains in its portfolio too many liquid financial assets as compared with its needs; yet, on the other hand, fewer liquid assets may determine severe financial problems, especially for small banks, and may generate even bankruptcy.
Cuvinte cheie: asset, banking system, investments, liabilities.
Cod JEL: E10 G12 G21
Autor(i): Rascolean Ilie, Slusariuc Gabriela Corina
Rezumat: One of the most important tasks of the management of a bank is to estimate and properly cover the bankТs need of liquid assets. On long term, the profitableness of a bank may be negatively affected in case the bank detains in its portfolio too many liquid financial assets as compared with its needs; yet, on the other hand, fewer liquid assets may determine severe financial problems, especially for small banks, and may generate even bankruptcy.
Cuvinte cheie: asset, banking system, investments, liabilities.
Cod JEL: E10 G12 G21
Text complet
Paginatie: 819-824
Titlul lucrarii: CHANGES IN BANKING ACTIVITY IN THE CONTEXT OF THE DEVELOPMENT OF FINANCIAL DERIVATIVES MARKETS
Autor(i): Roman Angela, Anton Sorin Gabriel
Rezumat: In the last years,in the context of financial globalization, it has been registered a significant development of the financial markets, but also an increase of the instability of the interest rates, of exchange rates, of prices in general, that determined the creation of new instruments and of protection markets against risks. Within those, one should mention from the point of view of the spectacular development and of the economic implications, the derivative financial products and markets on which these are negotiated.
The paper analyses the role of financial derivatives in managing financial risks in the process of financial globalization and their implications on the systemic risk, on the banking activity, and on the monetary policy.
Cuvinte cheie: financial globalization, financial markets, derivatives markets, banking activity, monetary politics, systemic risk, risk management
Cod JEL: F02 G10 D80
Autor(i): Roman Angela, Anton Sorin Gabriel
Rezumat: In the last years,in the context of financial globalization, it has been registered a significant development of the financial markets, but also an increase of the instability of the interest rates, of exchange rates, of prices in general, that determined the creation of new instruments and of protection markets against risks. Within those, one should mention from the point of view of the spectacular development and of the economic implications, the derivative financial products and markets on which these are negotiated.
The paper analyses the role of financial derivatives in managing financial risks in the process of financial globalization and their implications on the systemic risk, on the banking activity, and on the monetary policy.
Cuvinte cheie: financial globalization, financial markets, derivatives markets, banking activity, monetary politics, systemic risk, risk management
Cod JEL: F02 G10 D80
Text complet
Paginatie: 825-829
Titlul lucrarii: THE CHALANGES OF RURAL LENDING. RISKS AND COSTS
Autor(i): Savescu Roxana Florenta, Ploetz Georg
Rezumat: Urban and rural areas differ in many aspects. One of them is the relevance of agricultural in rural areas. Agricultural is distinct from other sectors because of the seasonality, geographic limitations, price volatility and dependence on natural conditions. Moreover, the rural populations are often poor and have great difficulties in managing risk, coping with shocks and accessing consistent cash-flows. These differences may affect the characteristics necessary for the success of the financial institutions operating on rural markets.
This paper outlines the various risks of rural finance, discusses the cost involved in agricultural lending and presents techniques for risk and cost reduction.
Cuvinte cheie: rural lending, credit, agriculture, financial institutions, risk, costs
Cod JEL: O13 G20 G10
Autor(i): Savescu Roxana Florenta, Ploetz Georg
Rezumat: Urban and rural areas differ in many aspects. One of them is the relevance of agricultural in rural areas. Agricultural is distinct from other sectors because of the seasonality, geographic limitations, price volatility and dependence on natural conditions. Moreover, the rural populations are often poor and have great difficulties in managing risk, coping with shocks and accessing consistent cash-flows. These differences may affect the characteristics necessary for the success of the financial institutions operating on rural markets.
This paper outlines the various risks of rural finance, discusses the cost involved in agricultural lending and presents techniques for risk and cost reduction.
Cuvinte cheie: rural lending, credit, agriculture, financial institutions, risk, costs
Cod JEL: O13 G20 G10
Text complet
Paginatie: 830-835
Titlul lucrarii: COUNTRY RISK FROM ROMANIA AND BULGARIA AFTER UE INTEGRATION
Autor(i): Slusariuc Gabriela Corina, Rascolean Ilie
Rezumat: Country risk is a relatively new concept in economical reasoning, that has entered in researchers attention only in 70es. The assessment of country risk by the international financial institutions, has extended in the same time with the increasing of external activities of private commercial banks in course of development.
Cuvinte cheie: country risk, economic growth, banking system, budget deficit
Cod JEL: H50 H62 D80
Autor(i): Slusariuc Gabriela Corina, Rascolean Ilie
Rezumat: Country risk is a relatively new concept in economical reasoning, that has entered in researchers attention only in 70es. The assessment of country risk by the international financial institutions, has extended in the same time with the increasing of external activities of private commercial banks in course of development.
Cuvinte cheie: country risk, economic growth, banking system, budget deficit
Cod JEL: H50 H62 D80
Text complet
Paginatie: 836-840
Titlul lucrarii: RECENT MODIFICATIONS TO THE DEBIT PAYMENT INSTRUMENT IN ROMANIA: A COMPARATIVE SYNOPTIC APPROACH
Autor(i): Socol Adela, Turta Irina Mihaela
Rezumat: This study is aimed to describe the actual stage and the developing opportunities for settlement of the debit payment instruments in Romania. We present the settlement system of the debit payment instruments during the period 1999 until present. We underline the actual stage of the compensation of the debit payment instruments through Transfond and comparatively with the description of the automatic process of the debit payment instruments. We examine the technical ways to preparing the debit payment instruments, especially the two proposals for operating the debit instruments through truncation – the truncation at the source and the flexible truncation method.
Cuvinte cheie: Debit Payment Instruments, Automated Processing Solutions
Cod JEL: F34 G21 G10
Autor(i): Socol Adela, Turta Irina Mihaela
Rezumat: This study is aimed to describe the actual stage and the developing opportunities for settlement of the debit payment instruments in Romania. We present the settlement system of the debit payment instruments during the period 1999 until present. We underline the actual stage of the compensation of the debit payment instruments through Transfond and comparatively with the description of the automatic process of the debit payment instruments. We examine the technical ways to preparing the debit payment instruments, especially the two proposals for operating the debit instruments through truncation – the truncation at the source and the flexible truncation method.
Cuvinte cheie: Debit Payment Instruments, Automated Processing Solutions
Cod JEL: F34 G21 G10
Text complet
Paginatie: 841-845
Titlul lucrarii: THE BEYOND BOUNDARIES BANKING INTEGRATION. FOREIGN BANKSТ PART IN THE CONSOLIDATION OF THE BANKING SYSTEMS
Autor(i): Spulbar Cristi Marcel, Gruescu Ramona
Rezumat: The paper approaches the merchant banks activity in the context in which the financial markets integration degree and the political boundaries have become less and less relevant to the banking institutions due to the globalization, to the banks international opening, to the financial and techonological innovations, to the deregulation and the process of European integration.
Cuvinte cheie: foreign banks, banking integration, banking performances, financial stability
Cod JEL: F02 F36 G21
Autor(i): Spulbar Cristi Marcel, Gruescu Ramona
Rezumat: The paper approaches the merchant banks activity in the context in which the financial markets integration degree and the political boundaries have become less and less relevant to the banking institutions due to the globalization, to the banks international opening, to the financial and techonological innovations, to the deregulation and the process of European integration.
Cuvinte cheie: foreign banks, banking integration, banking performances, financial stability
Cod JEL: F02 F36 G21
Text complet
Paginatie: 846-851
Titlul lucrarii: BANKING RISK MANAGEMENT
Autor(i): Simon Adrian
Rezumat: General banks, investment banks, and mutual funds have to control and select the risks inherent in the management of deposits, loans portfolios of securities, and off-balance-sheet contracts.
Since the risks that a bank has to manage are diverse, several classifications have been proposed, some of which are standard. Thus, economists have put forward the fundamental distinction between microeconomic or idiosyncratic risks, which can be diversified away through the law of large numbers, and macroeconomic or systematic risks, which cannot. Unlike insurance companies, which essentially deal with microeconomic risks, banks generally have to deal with both types of risks.
Autor(i): Simon Adrian
Rezumat: General banks, investment banks, and mutual funds have to control and select the risks inherent in the management of deposits, loans portfolios of securities, and off-balance-sheet contracts.
Since the risks that a bank has to manage are diverse, several classifications have been proposed, some of which are standard. Thus, economists have put forward the fundamental distinction between microeconomic or idiosyncratic risks, which can be diversified away through the law of large numbers, and macroeconomic or systematic risks, which cannot. Unlike insurance companies, which essentially deal with microeconomic risks, banks generally have to deal with both types of risks.
Cuvinte cheie:
Cod JEL: D80, G21, G10
Text complet
Paginatie: 852-855
Titlul lucrarii: SETTLEMENT/PAYMENTS RISK
Autor(i): Simon Adrian
Rezumat: Settlement/ payments risk is created it one party to a deal pays money or delivers assets before receiving its own cash or assets, thereby exposing it to potential loss. Settlement risk can include credit risk if one party fails to settle, i.e. reneges on the contract, and liquidity risk – a bank may not be able to settle a transaction if it becomes illiquid.
Autor(i): Simon Adrian
Rezumat: Settlement/ payments risk is created it one party to a deal pays money or delivers assets before receiving its own cash or assets, thereby exposing it to potential loss. Settlement risk can include credit risk if one party fails to settle, i.e. reneges on the contract, and liquidity risk – a bank may not be able to settle a transaction if it becomes illiquid.
Cuvinte cheie:
Cod JEL: J33, G21, F30
Text complet
Paginatie: 856-859
Titlul lucrarii: STOCK RETURNS AND THEIR PROBABILISTIC DISTRIBUTION (THE BUCHAREST STOCK EXCHANGE CASE)
Autor(i): Trenca Ioan, Zoicas – Ienciu Adrian
Rezumat: Based on a long series of papers analyzing stock returns behavior we can speak generally about the stock exchange as a speculative market in the sense of the stable paretian hypothesis. Still, there are significant differences from a market to another and in many cases biases from normality are too insignificant in order to justify a radical change of approach. This radical change is less needed especially when the aggregating interval of price changes gets big enough, for example if we speak about weakly or monthly returns, cases in which the non normality hypothesis can be accepted in a comfortable way.
Cuvinte cheie: stock returns, probabilistic distributions, stable paretian hypothesis
Cod JEL: G21 F30 G20
Autor(i): Trenca Ioan, Zoicas – Ienciu Adrian
Rezumat: Based on a long series of papers analyzing stock returns behavior we can speak generally about the stock exchange as a speculative market in the sense of the stable paretian hypothesis. Still, there are significant differences from a market to another and in many cases biases from normality are too insignificant in order to justify a radical change of approach. This radical change is less needed especially when the aggregating interval of price changes gets big enough, for example if we speak about weakly or monthly returns, cases in which the non normality hypothesis can be accepted in a comfortable way.
Cuvinte cheie: stock returns, probabilistic distributions, stable paretian hypothesis
Cod JEL: G21 F30 G20
Text complet
Paginatie: 860-865
Titlul lucrarii: FUNDAMENTALS OF PROJECT FINANCING
Autor(i): Truica Luiza-Denisa, Trandafir Raluca Andreea
Rezumat: In this article we look at all important features of project financing. In a project financing,, lenders initially look to the cash flow from the project being financed rather than the corporation or corporations seeking funding. The moving party in a project is its promoter or sponsor. The ultimate goal in project financing is to arrange a borrowing for a project which will benefit the sponsor and, at the same time, be completely non-recourse to the sponsor, in no way affecting its credit standing or balance sheet. This can be accomplished by using the credit of a third party to support the transaction. Different guarantees and undertakings of different partners may be used in each time frame to provide the credit support necessary for structuring a project financing. Most large projects employ different lenders or groups of lenders because of the different risks involved as the project facility progresses through construction to operation, and the different ability of lenders to cope with and accept such risks.
Cuvinte cheie: project financing, SPV, sponsor, credit, lender.
Cod JEL: E50 G21 F10
Autor(i): Truica Luiza-Denisa, Trandafir Raluca Andreea
Rezumat: In this article we look at all important features of project financing. In a project financing,, lenders initially look to the cash flow from the project being financed rather than the corporation or corporations seeking funding. The moving party in a project is its promoter or sponsor. The ultimate goal in project financing is to arrange a borrowing for a project which will benefit the sponsor and, at the same time, be completely non-recourse to the sponsor, in no way affecting its credit standing or balance sheet. This can be accomplished by using the credit of a third party to support the transaction. Different guarantees and undertakings of different partners may be used in each time frame to provide the credit support necessary for structuring a project financing. Most large projects employ different lenders or groups of lenders because of the different risks involved as the project facility progresses through construction to operation, and the different ability of lenders to cope with and accept such risks.
Cuvinte cheie: project financing, SPV, sponsor, credit, lender.
Cod JEL: E50 G21 F10
Text complet
Paginatie: 866-870
Titlul lucrarii: COMMERCIAL INFORMATION AND CREDIT ANALYSIS PRESENTED IN A LOAN MEMORANDUM
Autor(i): Truica Luiza-Denisa
Rezumat: For financing corporate companies, banks use own and varied forms of loan memorandums which gather commercial and financial knowledge about the client. Credits granted to companies, whether public or private, generally comprises loans for working capital and for fixed assets, financing such as overdrafts, term loans, syndicated loans, and revolving credit and working capital loans. Banks do analyze a set of basic and additional criteria such as the ability of continuing business, the expected future cash flows, security and collateral, the rate of return to the bank as well as the level of the whole business which the bank has done with them. Credit papers needed for the conclusion of the convention between the bank and a potential client are governed by Law No 58 – the Banking law and procedures issued by NBR. The composition and quality of a bankТs loans should be reflected in its loan policy.
Cuvinte cheie: client, loan, analysis, ratios, bank
Cod JEL: G21 E50 F10
Autor(i): Truica Luiza-Denisa
Rezumat: For financing corporate companies, banks use own and varied forms of loan memorandums which gather commercial and financial knowledge about the client. Credits granted to companies, whether public or private, generally comprises loans for working capital and for fixed assets, financing such as overdrafts, term loans, syndicated loans, and revolving credit and working capital loans. Banks do analyze a set of basic and additional criteria such as the ability of continuing business, the expected future cash flows, security and collateral, the rate of return to the bank as well as the level of the whole business which the bank has done with them. Credit papers needed for the conclusion of the convention between the bank and a potential client are governed by Law No 58 – the Banking law and procedures issued by NBR. The composition and quality of a bankТs loans should be reflected in its loan policy.
Cuvinte cheie: client, loan, analysis, ratios, bank
Cod JEL: G21 E50 F10
Text complet
Paginatie: 871-876
Titlul lucrarii: RISK MANAGEMENT OF E-BANKING ACTIVITIES
Autor(i): Virlanuta Florina, Moga Liliana, Ioan Viorica
Rezumat: E-banking risk arises from fraud, processing errors, system disruptions, or other unanticipated events resulting in the institutionТs inability to deliver products or services. This risk exists in each product and service offered. Institutions should determine the appropriate level of security controls based on their assessment of the sensitivity of the information to the customer and to the institution and on the institutionТs established risk tolerance level.
Cuvinte cheie: e-banking, risk management, security
Cod JEL: D80 L86 E36
Autor(i): Virlanuta Florina, Moga Liliana, Ioan Viorica
Rezumat: E-banking risk arises from fraud, processing errors, system disruptions, or other unanticipated events resulting in the institutionТs inability to deliver products or services. This risk exists in each product and service offered. Institutions should determine the appropriate level of security controls based on their assessment of the sensitivity of the information to the customer and to the institution and on the institutionТs established risk tolerance level.
Cuvinte cheie: e-banking, risk management, security
Cod JEL: D80 L86 E36
Text complet
Paginatie: 877-880
Titlul lucrarii: AUDIT PROCEDURES REGARDING THE INFORMATION THAT MUST BE CONTAINED IN THE FINANCIAL SITUATION OF CREDIT INSTITUTIONS
Autor(i): Vlad Mariana, Vasilache Vasile
Rezumat: The auditors must obtain sufficient adequate audit proofs, to be capable of issuing the reasonable conclusion upon which the audit opinion must be based on. The great majority of the audit evidence are collected from the interior of the audited entities, having as base the accounting evidence, which include in general the initial and justifiable accountancy registrations.
Cuvinte cheie: the audit proof, balance sheet, profit and loss account, assets and liabilities, credit, bank.
Cod JEL: G21 F20 F30
Autor(i): Vlad Mariana, Vasilache Vasile
Rezumat: The auditors must obtain sufficient adequate audit proofs, to be capable of issuing the reasonable conclusion upon which the audit opinion must be based on. The great majority of the audit evidence are collected from the interior of the audited entities, having as base the accounting evidence, which include in general the initial and justifiable accountancy registrations.
Cuvinte cheie: the audit proof, balance sheet, profit and loss account, assets and liabilities, credit, bank.
Cod JEL: G21 F20 F30
Text complet
Paginatie: 881-885
Titlul lucrarii: THE IMPLEMENT ROLE OF TARGET SYSTEM FOR HIGH VALUES
Autor(i): Voica Irina – Elena
Rezumat: The Target system, one of the most worldwide used payment system, continued to participate in fitting process of monetary market in euro curency and to play a major role in the task of putting in harmony application the single monetary policy. The system is conceived in order to allow the initially payment to be finish in a matter of few minutes, through a special communication network (interlineking system). TARGET is the main tool for introduction the Eurosystem policy and create one single banking market in Europ.
Cuvinte cheie: Target system, highly value transfers, electronic transfers, cash flow
Cod JEL: F30 F20 G21
Autor(i): Voica Irina – Elena
Rezumat: The Target system, one of the most worldwide used payment system, continued to participate in fitting process of monetary market in euro curency and to play a major role in the task of putting in harmony application the single monetary policy. The system is conceived in order to allow the initially payment to be finish in a matter of few minutes, through a special communication network (interlineking system). TARGET is the main tool for introduction the Eurosystem policy and create one single banking market in Europ.
Cuvinte cheie: Target system, highly value transfers, electronic transfers, cash flow
Cod JEL: F30 F20 G21
Text complet
Paginatie: 886-889
Titlul lucrarii: ROMANIA: FROM THE QUANTITATIVE MONETARY AGGREGATES TO INFLATION TARGETING
Autor(i): Voicu Vasilica, Zirra Daniela, Voicu Andreea Raluca
Rezumat: The lack of historic capitalism experience, the delays of governmental legislative and economic reforms, the ownership changes of the former state-own banks, the existence of the real negative interest rates on banking deposits, the regional crises (e.g. former Yugoslavia Republic, Kosovo situation), the high costs of financial intermediation, the alternative of financing by arrears, and the lack of legislation in by-law forced recovery of receivables, all that together were challenges affecting the health of banking system.
Cuvinte cheie: monetary aggregates, inflation, liquidity, crises
Cod JEL: E31 G21 F30
Autor(i): Voicu Vasilica, Zirra Daniela, Voicu Andreea Raluca
Rezumat: The lack of historic capitalism experience, the delays of governmental legislative and economic reforms, the ownership changes of the former state-own banks, the existence of the real negative interest rates on banking deposits, the regional crises (e.g. former Yugoslavia Republic, Kosovo situation), the high costs of financial intermediation, the alternative of financing by arrears, and the lack of legislation in by-law forced recovery of receivables, all that together were challenges affecting the health of banking system.
Cuvinte cheie: monetary aggregates, inflation, liquidity, crises
Cod JEL: E31 G21 F30
Text complet
Paginatie: 890-893
Titlul lucrarii: DISCREPANCIES BETWEEN THE CREDIT CONTRACT AND THE GENERAL BUSINESS CONDITIONS. MORAL AND LEGAL IMPLICATIONS
Autor(i): Voiculescu Madalina Irena, Stefanica Mihaela
Rezumat: At the beginning of 2008, a series of clients of a commercial bank from Romania received an unwanted УgiftФ: a notification by means of which they were informed that the bank had decided to raise the bank fees associated to the credit portfolio; as a consequence, they were to pay a supplementary 0.5% worth monthly fee, applied to the credit balance; therefore, the new terms imposed a recalculation of the monthly installment, as well as the draw up of a new reimbursement schedule, which could be obtained at branch of the bank where the account had been opened.
There are also bank clients that, while reading the contractual clauses, have raised the problem of the legality of these modifications, thus realizing that there is no provision in the contract that gives the bank the right to introduce a new fee or to modify the existing one over the creditТs period of validity.
Cuvinte cheie: credit contract, general business conditions, bank fees
Cod JEL: E50 G21 G10
Autor(i): Voiculescu Madalina Irena, Stefanica Mihaela
Rezumat: At the beginning of 2008, a series of clients of a commercial bank from Romania received an unwanted УgiftФ: a notification by means of which they were informed that the bank had decided to raise the bank fees associated to the credit portfolio; as a consequence, they were to pay a supplementary 0.5% worth monthly fee, applied to the credit balance; therefore, the new terms imposed a recalculation of the monthly installment, as well as the draw up of a new reimbursement schedule, which could be obtained at branch of the bank where the account had been opened.
There are also bank clients that, while reading the contractual clauses, have raised the problem of the legality of these modifications, thus realizing that there is no provision in the contract that gives the bank the right to introduce a new fee or to modify the existing one over the creditТs period of validity.
Cuvinte cheie: credit contract, general business conditions, bank fees
Cod JEL: E50 G21 G10
Text complet
Paginatie: 894-896
Titlul lucrarii: FINANCIAL SUPERVISION IN EUROPE
Autor(i): Daniela Zapodeanu, Sorina Coroiu
Rezumat: There are different systems of financial supervision, specific to the country in which they are applied. In Europe, there are three main supervisory models, each one with advantages and disadvantages. This paper analyses the characteristics of these models, in the European countries.
Cuvinte cheie: financial supervision, supervisory institutions, European countries.
Cod JEL: G14 G21 F30
Autor(i): Daniela Zapodeanu, Sorina Coroiu
Rezumat: There are different systems of financial supervision, specific to the country in which they are applied. In Europe, there are three main supervisory models, each one with advantages and disadvantages. This paper analyses the characteristics of these models, in the European countries.
Cuvinte cheie: financial supervision, supervisory institutions, European countries.
Cod JEL: G14 G21 F30
Text complet
Paginatie: 897-900
Titlul lucrarii: THE FINANCIAL INTERMEDIARIES, A REAL DANGER FOR BANKS?
Autor(i): Daniela Zapodeanu, Diana Popa
Rezumat: The presence of the financial intermediaries – that make the link between the economics agents, with the needs of resources and the one with surplus of resources – determinates the evolution of the banking system and the structure modification of these. What is the difference between a bank and a financial intermediary? The bank distinguish itself from the financial intermediary through its capacity of taking inside the costs and its informatic efficiency, and so the incomes are growing. Does the financial intermediaries represents a danger for the banks?
Cuvinte cheie: financial intermediary, bank, capital.
Cod JEL: E53 G21 G10
Autor(i): Daniela Zapodeanu, Diana Popa
Rezumat: The presence of the financial intermediaries – that make the link between the economics agents, with the needs of resources and the one with surplus of resources – determinates the evolution of the banking system and the structure modification of these. What is the difference between a bank and a financial intermediary? The bank distinguish itself from the financial intermediary through its capacity of taking inside the costs and its informatic efficiency, and so the incomes are growing. Does the financial intermediaries represents a danger for the banks?
Cuvinte cheie: financial intermediary, bank, capital.
Cod JEL: E53 G21 G10
Text complet
Paginatie: 901-904
SECTIUNEA: FINANTE, CONTABILITATE si BANCI / SUBSECTIUNEA: CONTABILITATE
Titlul lucrarii: AUDITING HISTORY, RISKS AND PERSPECTIVES
Autor(i): Achim Sorin Adrian, Achim Monica Violeta, Streza Raluca
Rezumat: This paper refers to the audit process as to a very complex activity. There have been significant changes as the time passed by, changes that were necessary in order to keep up with the clientТs demands and the dynamic business environment. Despite the fact that there are certain stages to be followed while auditing, despite the standardized audit procedures, there however, remains the one element that adds value to the marketplace, and that is the auditor, as a human being. He bears the responsibility for the completeness, validity and accuracy of the financial statements. Therefore, he must be that skillful employee, who knows very well the procedures, puts them effectively into practice and yet has time to specialize and keep in touch with the latter methodologies developed by audit scholars. He is the key element, the relationship manager. And the audit process depends on many variables, but above all, stands the auditor.
Cuvinte cheie: auditing risks
Cod JEL: M41 M42
Autor(i): Achim Sorin Adrian, Achim Monica Violeta, Streza Raluca
Rezumat: This paper refers to the audit process as to a very complex activity. There have been significant changes as the time passed by, changes that were necessary in order to keep up with the clientТs demands and the dynamic business environment. Despite the fact that there are certain stages to be followed while auditing, despite the standardized audit procedures, there however, remains the one element that adds value to the marketplace, and that is the auditor, as a human being. He bears the responsibility for the completeness, validity and accuracy of the financial statements. Therefore, he must be that skillful employee, who knows very well the procedures, puts them effectively into practice and yet has time to specialize and keep in touch with the latter methodologies developed by audit scholars. He is the key element, the relationship manager. And the audit process depends on many variables, but above all, stands the auditor.
Cuvinte cheie: auditing risks
Cod JEL: M41 M42
Text complet
Paginatie: 906-911
Titlul lucrarii: CHALLENGES OF A DYNAMIC AND COMPLEX ENVIRONMENT ON MANAGEMENT ACCOUNTING
Autor(i): Almasan Alina Carmen
Rezumat: The far more competitive environment has profound implications for cost management systems. The knowledge of product costs, cost control and performance measurement are more important than they have been in the past.
Three major factors are causing changes in management accounting today: shift from a manufacturing-based to a service-based economy, the increase of the global competition and advances in technology.
Traditional cost accounting systems have tended to focus only on the production phase and do not pay attention to the productТs life cycle costs. It must take a close look at the companyТs entire value chain, because this can help managers to identify opportunities for cost reduction.
Cuvinte cheie: environment, competitiveness, competition, costs, management accounting
Cod JEL: M41 F12
Autor(i): Almasan Alina Carmen
Rezumat: The far more competitive environment has profound implications for cost management systems. The knowledge of product costs, cost control and performance measurement are more important than they have been in the past.
Three major factors are causing changes in management accounting today: shift from a manufacturing-based to a service-based economy, the increase of the global competition and advances in technology.
Traditional cost accounting systems have tended to focus only on the production phase and do not pay attention to the productТs life cycle costs. It must take a close look at the companyТs entire value chain, because this can help managers to identify opportunities for cost reduction.
Cuvinte cheie: environment, competitiveness, competition, costs, management accounting
Cod JEL: M41 F12
Text complet
Paginatie: 912-916
Titlul lucrarii: THE COMPETENCES AND THE IMPACT OF EVALUATION CATEGORIES ON THE FIDELITY OF ACCOUNTING INFORMATION
Autor(i): Antonescu Ligia
Rezumat: Due to the fact that accounting evaluation has severe rules and principles, the economic evaluation has the role to assure the reflection of informational valences of an economic entity in order to mark out its capacity to produce future incomes. Even if the role and the characteristics of accounting evaluation are incontestable, we have to mention this processТ consequences on the fidelity of accounting information, considering that a rigorous analysis cannot be realized without detecting the informational liaisons between the balance-sheet and evaluation.
Cuvinte cheie: fidelity, accounting information, accounting evaluation, international practice
Cod JEL:
Autor(i): Antonescu Ligia
Rezumat: Due to the fact that accounting evaluation has severe rules and principles, the economic evaluation has the role to assure the reflection of informational valences of an economic entity in order to mark out its capacity to produce future incomes. Even if the role and the characteristics of accounting evaluation are incontestable, we have to mention this processТ consequences on the fidelity of accounting information, considering that a rigorous analysis cannot be realized without detecting the informational liaisons between the balance-sheet and evaluation.
Cuvinte cheie: fidelity, accounting information, accounting evaluation, international practice
Cod JEL:
Text complet
Paginatie: 917-922
Titlul lucrarii: THE PERSPECTIVES AND THE OPORTUNITY OF EVALUATION FROM THE ANGLE OF THE RELATION EVALUATION – ACCOUNTING – REPORTING
Autor(i): Antonescu Ligia, Antonescu Mihail
Rezumat: Regardless of the moment and the presentation stage of accounting data, the arguments of calculus and evaluation are integrated as a unit, inseparable from the accounting methods, being required by the existence and operation of the system. The evaluation is generated by the necessity to measure the complexity, being perceived as an alternative in solving the problems.
Cuvinte cheie: evaluation, accounting data, opportunity, convergence, interdependence.
Cod JEL:
Autor(i): Antonescu Ligia, Antonescu Mihail
Rezumat: Regardless of the moment and the presentation stage of accounting data, the arguments of calculus and evaluation are integrated as a unit, inseparable from the accounting methods, being required by the existence and operation of the system. The evaluation is generated by the necessity to measure the complexity, being perceived as an alternative in solving the problems.
Cuvinte cheie: evaluation, accounting data, opportunity, convergence, interdependence.
Cod JEL:
Text complet
Paginatie: 923-927
Titlul lucrarii: THE IMPLICATIONS OF THE FINANCIAL AUDITORSÑ‚ÐЩ TO DETECT THE FRAUDS
Autor(i): Avram Marioara, Avram Veronel, Avram Alexandru
Rezumat: During the audit process of the financial situations, the auditor has a great responsibility in detecting the significant falsifications of the information due to fraud. The International Federation of Accountants (IFAC), the representative international structure of the accounting profession has elaborated the International Audit Standard 240 The AuditorÑ‚ÐЩs responsibility to analyze the fraud in an audit of financial situations which establishes the regulations and offers the recommendations concerning the procedures that must be applied by the auditor in order to detect the significant falsifications consequent to fraud which influences the fidelity of the information presented in the financial situation. The auditor can identify a falsification in the financial situations and in this case he must analysis if such a falsification can indicate a fraud and when such a clue exists.
Cuvinte cheie: Keywords: responsibility, audit, fraud, standards
Cod JEL: D74 M42
Autor(i): Avram Marioara, Avram Veronel, Avram Alexandru
Rezumat: During the audit process of the financial situations, the auditor has a great responsibility in detecting the significant falsifications of the information due to fraud. The International Federation of Accountants (IFAC), the representative international structure of the accounting profession has elaborated the International Audit Standard 240 The AuditorÑ‚ÐЩs responsibility to analyze the fraud in an audit of financial situations which establishes the regulations and offers the recommendations concerning the procedures that must be applied by the auditor in order to detect the significant falsifications consequent to fraud which influences the fidelity of the information presented in the financial situation. The auditor can identify a falsification in the financial situations and in this case he must analysis if such a falsification can indicate a fraud and when such a clue exists.
Cuvinte cheie: Keywords: responsibility, audit, fraud, standards
Cod JEL: D74 M42
Text complet
Paginatie: 928-934
Titlul lucrarii: IS CREATIVE ACCOUNTING A FORM OF MANIPULATION?
Autor(i): Balaciu Diana Elisabeta, Pop Cosmina Madalina
Rezumat: Manipulation of financial information which is called by several terms such as earnings management, income smoothing, creative accounting practices, aggressive accounting or account manipulation, prevents the allocation of resources in the most efficient areas in the economy. The scope of this paper is to relate the causes, the main motivations behind their application, the objectives, the methods and the consequences of manipulation in financial reporting. Creative accounting is not a new technique, but it can be seen as a costly one. Businesses feel the pressure to appear profitable in order to attract investors and resources, but deceptive or fraudulent accounting practices often conduct to drastic consequences.
Cuvinte cheie: creative accounting, window dressing, fraud, account manipulation
Cod JEL: M41 M42
Autor(i): Balaciu Diana Elisabeta, Pop Cosmina Madalina
Rezumat: Manipulation of financial information which is called by several terms such as earnings management, income smoothing, creative accounting practices, aggressive accounting or account manipulation, prevents the allocation of resources in the most efficient areas in the economy. The scope of this paper is to relate the causes, the main motivations behind their application, the objectives, the methods and the consequences of manipulation in financial reporting. Creative accounting is not a new technique, but it can be seen as a costly one. Businesses feel the pressure to appear profitable in order to attract investors and resources, but deceptive or fraudulent accounting practices often conduct to drastic consequences.
Cuvinte cheie: creative accounting, window dressing, fraud, account manipulation
Cod JEL: M41 M42
Text complet
Paginatie: 935-940
Titlul lucrarii: UNFINISHED PRODUCTION EVALUATION AND BOOKKEEPING IN THE ENTITIES IN THE FURNITURE INDUSTRY
Autor(i): Banuta Mariana
Rezumat: I believe that stocks represent one of the УkeyФ elements of the operation process, especially in the case of the industrial entities (and implicitly those in the furniture industry) which intervene during the whole purchase – production – selling cycle. For this reason one can state that the superficial or inadequate treatment of the stock management and accounting may represent a hindrance in obtaining the industrial company performance or may be a factor calling into question the continuity of the activity.
I have analysed, in the article, the method used for the evaluation and bookkeeping of unfinished production in the entities the furniture industry and I rendered my own view concerning this topic and I also made proposals for the contribution to the increase in accuracy of the evaluation of unfinished production.
Cuvinte cheie: unfinished production, stocks, the furniture industry, finished products
Cod JEL: M11 M41 R30
Autor(i): Banuta Mariana
Rezumat: I believe that stocks represent one of the УkeyФ elements of the operation process, especially in the case of the industrial entities (and implicitly those in the furniture industry) which intervene during the whole purchase – production – selling cycle. For this reason one can state that the superficial or inadequate treatment of the stock management and accounting may represent a hindrance in obtaining the industrial company performance or may be a factor calling into question the continuity of the activity.
I have analysed, in the article, the method used for the evaluation and bookkeeping of unfinished production in the entities the furniture industry and I rendered my own view concerning this topic and I also made proposals for the contribution to the increase in accuracy of the evaluation of unfinished production.
Cuvinte cheie: unfinished production, stocks, the furniture industry, finished products
Cod JEL: M11 M41 R30
Text complet
Paginatie: 941-946
Titlul lucrarii: INVENTORY EVALUATION AT STOCKTAKING
Autor(i): Banuta Mariana
Rezumat: All companies perform the inventorying of their patrimony, (including the stockable items, at the beginning of their activity, on the occasion of mergers or liquidations, whenever it is necessary during the accounting period, (due to internal need for information, replacing the gestionarului, etc.) and compulsorily at the end of the accounting period before drawing up the financial statements. I have treated, in my article, problems related to inventory evaluation at stocktaking, the method used for their inventory, the settlements of shorts and overs at stocktaking, setting the values that will be recorded following the stocktaking as well as the inventory evaluation at stocktaking according to the rules applicable in other countries.
Cuvinte cheie: stocks, stocktaking, settlement, current value, book value, inventory evaluation
Cod JEL: R53 M41
Autor(i): Banuta Mariana
Rezumat: All companies perform the inventorying of their patrimony, (including the stockable items, at the beginning of their activity, on the occasion of mergers or liquidations, whenever it is necessary during the accounting period, (due to internal need for information, replacing the gestionarului, etc.) and compulsorily at the end of the accounting period before drawing up the financial statements. I have treated, in my article, problems related to inventory evaluation at stocktaking, the method used for their inventory, the settlements of shorts and overs at stocktaking, setting the values that will be recorded following the stocktaking as well as the inventory evaluation at stocktaking according to the rules applicable in other countries.
Cuvinte cheie: stocks, stocktaking, settlement, current value, book value, inventory evaluation
Cod JEL: R53 M41
Text complet
Paginatie: 947-952
Titlul lucrarii: PARTICULAR ASPECTS REGARDING THE USE OF CONSOLIDATED STATEMENTS AGAINST THE BACKGROUND OF THE EUROPEAN ACCESSION
Autor(i): Berheci Maria
Rezumat: The decision of an investor to place capitals in a business is conditioned by obtaining intelligible cost-effective information. To this purpose, quoted multinational companies that make consolidated accounts had to use one only accounting referential, that are the IAS/IFRS regulations. In other words, an equivalence was established between accounting practices at an international level that create the premises for the understanding and the comparability of the financial statements of companies from various countries, the international accounting harmonization being conceived as means of economic integration and also as means of the large international financial markets transparency and efficiency. This study focuses on highlighting the particular aspects (advantages and limits) with regard to the use of the information contained in consolidated financial statements.
Cuvinte cheie: consolidated financial statements, use of information, group of companies
Cod JEL: M41 M42
Autor(i): Berheci Maria
Rezumat: The decision of an investor to place capitals in a business is conditioned by obtaining intelligible cost-effective information. To this purpose, quoted multinational companies that make consolidated accounts had to use one only accounting referential, that are the IAS/IFRS regulations. In other words, an equivalence was established between accounting practices at an international level that create the premises for the understanding and the comparability of the financial statements of companies from various countries, the international accounting harmonization being conceived as means of economic integration and also as means of the large international financial markets transparency and efficiency. This study focuses on highlighting the particular aspects (advantages and limits) with regard to the use of the information contained in consolidated financial statements.
Cuvinte cheie: consolidated financial statements, use of information, group of companies
Cod JEL: M41 M42
Text complet
Paginatie: 953-958
Titlul lucrarii: LEGAL AND ACCOUNTING ASPECTS REGARDING SUBSIDIES RECEIVED FOR HIRING STUDENTS AND GRADUATES OF EDUCATIONAL INSTITUTIONS
Autor(i): Bengescu Marcela
Rezumat: Romanian legislation stimulates company management to practice a estimative management of work positions, by granting them public aid for sustaining the effort to train and adapt personnel to the complexity of work tasks. Within the present paper we have proposed to approach legal and accounting aspects regarding public aid awarded to companies for hiring students and graduates of educational institutions. For this purpose, we have analyzed legal texts which regulate the aspects of the theme of the paper and we have solved actual cases inspired by the activity of Romanian commercial companies.
Cuvinte cheie: employer, incentive, financial, subsidies, accounting
Cod JEL: M41 E36 G10
Autor(i): Bengescu Marcela
Rezumat: Romanian legislation stimulates company management to practice a estimative management of work positions, by granting them public aid for sustaining the effort to train and adapt personnel to the complexity of work tasks. Within the present paper we have proposed to approach legal and accounting aspects regarding public aid awarded to companies for hiring students and graduates of educational institutions. For this purpose, we have analyzed legal texts which regulate the aspects of the theme of the paper and we have solved actual cases inspired by the activity of Romanian commercial companies.
Cuvinte cheie: employer, incentive, financial, subsidies, accounting
Cod JEL: M41 E36 G10
Text complet
Paginatie: 959-963
Titlul lucrarii: ELIMINATION OF PARTIALLY AMORTIZED FIXED ASSETS
Autor(i): Bengescu Marcela
Rezumat: The present paper analyzes the accounting and fiscal aspects of the elimination operation for tangible fixed assets that are partially amortized. For this purpose, we have started from the definition of the elimination operation and observations have been made regarding the capacity to approve the elimination of fixed assets. Two ways have been presented to solve the operation of removing fixed assets that have not been fully amortized from accounting. A fiscal analysis has been outlined regarding: the contribution to the environment fund, adjusting the value added tax and the fiscal deductibility of expenses, that can be diminished with the value that has not been amortized.
Cuvinte cheie: elimination, tangible fixed assets, VAT adjustment, fiscally deductible, tax, contribution
Cod JEL: E62 O23
Autor(i): Bengescu Marcela
Rezumat: The present paper analyzes the accounting and fiscal aspects of the elimination operation for tangible fixed assets that are partially amortized. For this purpose, we have started from the definition of the elimination operation and observations have been made regarding the capacity to approve the elimination of fixed assets. Two ways have been presented to solve the operation of removing fixed assets that have not been fully amortized from accounting. A fiscal analysis has been outlined regarding: the contribution to the environment fund, adjusting the value added tax and the fiscal deductibility of expenses, that can be diminished with the value that has not been amortized.
Cuvinte cheie: elimination, tangible fixed assets, VAT adjustment, fiscally deductible, tax, contribution
Cod JEL: E62 O23
Text complet
Paginatie: 964-967
Titlul lucrarii: INERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS AND PUBLIC ACCOUNTING REFORM IN EUROPE
Autor(i): Blidisel Rodica Gabriela, Farcane Nicoleta, Moraru Maria
Rezumat: Different political, economic and cultural traditions give rise to great diversity between public sector accounting systems in different countries. The paper presents a literature review of the accounting principles and financial reporting in Europe, the financial statements and the relationship between financial and budgetary accounting.
The IPSAS perhaps provide an opportunity for European accounting, and in future, national governments should attempt their accounting systems to the IPSAS.
The paper contributes to the development of some points of view regarding the adoption of the IPSAS by the European countries accounting systems and the harmonization of the European public accounting systems.
Cuvinte cheie: International Public Sector Accounting Standards, European Union institutions, public accounting.
Cod JEL: M41 M42
Autor(i): Blidisel Rodica Gabriela, Farcane Nicoleta, Moraru Maria
Rezumat: Different political, economic and cultural traditions give rise to great diversity between public sector accounting systems in different countries. The paper presents a literature review of the accounting principles and financial reporting in Europe, the financial statements and the relationship between financial and budgetary accounting.
The IPSAS perhaps provide an opportunity for European accounting, and in future, national governments should attempt their accounting systems to the IPSAS.
The paper contributes to the development of some points of view regarding the adoption of the IPSAS by the European countries accounting systems and the harmonization of the European public accounting systems.
Cuvinte cheie: International Public Sector Accounting Standards, European Union institutions, public accounting.
Cod JEL: M41 M42
Text complet
Paginatie: 968-972
Titlul lucrarii: PARTICULARITIES OF ACCOUNTING REGULATORY PROCESS IN SEVERAL EASTERN EUROPEAN AND FORMER SOVIET UNION COUNTRIES
Autor(i): Bogdan Victoria, Cristea Stefana-maria
Rezumat: After the break up of the Soviet Union in 1992, Russia and other former soviet members were forced into changing their planned economic system into a viable market economy. In such a market economy the means of production are mainly privately owned, the state creates the general legal framework in which economic activities take place, and these activities are supposed to respond to market forces. The respective transition obviously has important consequences on accounting – which used to be StateТs instrument of economic administration and it nowadays became an instrument at the disposal of the business community.
Our study is a descriptive and explorative research about the accounting regulatory process in the sample countries. The main goal of our analysis is to find out which are the significant changes in accounting regulations and identify the particularities of the regulatory process.
Cuvinte cheie: accounting, EE countries, IAS/IFRS, DAS
Cod JEL: M41 M42
Autor(i): Bogdan Victoria, Cristea Stefana-maria
Rezumat: After the break up of the Soviet Union in 1992, Russia and other former soviet members were forced into changing their planned economic system into a viable market economy. In such a market economy the means of production are mainly privately owned, the state creates the general legal framework in which economic activities take place, and these activities are supposed to respond to market forces. The respective transition obviously has important consequences on accounting – which used to be StateТs instrument of economic administration and it nowadays became an instrument at the disposal of the business community.
Our study is a descriptive and explorative research about the accounting regulatory process in the sample countries. The main goal of our analysis is to find out which are the significant changes in accounting regulations and identify the particularities of the regulatory process.
Cuvinte cheie: accounting, EE countries, IAS/IFRS, DAS
Cod JEL: M41 M42
Text complet
Paginatie: 973-982
Titlul lucrarii: ONLINE FINANCIAL REPORTING DISCLOSURE REQUIREMENTS ACROSS CENTRAL AND EASTERN EUROPEAN COUNTRIES
Autor(i): Bogdan Victoria, Popa Dorina Nicoleta
Rezumat: The business community has admitted that the accounting is Уthe language of businessФ. They are using the accounting to communicate the existence and the evolution of the financial situation and also of the performance for the economical entities. Financial information is a form of a language. The purpose of this paper is to investigate the various elements of financial reporting frameworks and practice in the context of the Internet. The Internet has emerged as a recent medium of presentation of corporate information in the United States, Germany, Great Britain, but also in the Central and Eastern European Countries. Actual disclosure by companies from CEE was investigated in order to compare de jure and the facto financial reporting disclosure.
Cuvinte cheie: financial reporting, Internet, disclosure, CEE countries
Cod JEL: L86 M41 E36
Autor(i): Bogdan Victoria, Popa Dorina Nicoleta
Rezumat: The business community has admitted that the accounting is Уthe language of businessФ. They are using the accounting to communicate the existence and the evolution of the financial situation and also of the performance for the economical entities. Financial information is a form of a language. The purpose of this paper is to investigate the various elements of financial reporting frameworks and practice in the context of the Internet. The Internet has emerged as a recent medium of presentation of corporate information in the United States, Germany, Great Britain, but also in the Central and Eastern European Countries. Actual disclosure by companies from CEE was investigated in order to compare de jure and the facto financial reporting disclosure.
Cuvinte cheie: financial reporting, Internet, disclosure, CEE countries
Cod JEL: L86 M41 E36
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Paginatie: 983-990
Titlul lucrarii: THE INFORMATIONAL SYSTEM AND THE MANAGEMENT OF ENTITY
Autor(i): Boghean Florin, Boghean Carmen,
Rezumat: A decision is a judgment. It is a choice among alternatives. It is rarely a choice between good and bad. In the best case it is a choice between almost goog and probably bad. In the best case it is a choice between two action directions of which none can say it is closer than the other one of what is good. Our demarche is included on the line of granting the decision maker with the most important weapon, information. In this paper, I tried to emphasize those instruments that help the manager in carrying out the performance criteria in the conditions of global economy. The complexity of the economic activities in competitive conditions imposed by the market economy determines the growth of the role of the economic- financial information in taking decisions. The quality of the current decisions and those taken on long term and also the results predicted by the entity depend on the quality of information.
Cuvinte cheie: managerial accounting, decisional processes, information, control systems.
Cod JEL: M41 D70 E36
Autor(i): Boghean Florin, Boghean Carmen,
Rezumat: A decision is a judgment. It is a choice among alternatives. It is rarely a choice between good and bad. In the best case it is a choice between almost goog and probably bad. In the best case it is a choice between two action directions of which none can say it is closer than the other one of what is good. Our demarche is included on the line of granting the decision maker with the most important weapon, information. In this paper, I tried to emphasize those instruments that help the manager in carrying out the performance criteria in the conditions of global economy. The complexity of the economic activities in competitive conditions imposed by the market economy determines the growth of the role of the economic- financial information in taking decisions. The quality of the current decisions and those taken on long term and also the results predicted by the entity depend on the quality of information.
Cuvinte cheie: managerial accounting, decisional processes, information, control systems.
Cod JEL: M41 D70 E36
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Paginatie: 991-996
Titlul lucrarii: APPLICABLE ACCOUNTANCY THEORIES ON THE CAPITAL MARKET
Autor(i): Bologa Gabriela
Rezumat: Traditionally the accountancy theory developed as a structure of principles that describe the practice. The sufficient conditions for a market to be efficient are: the lack of the costs of the title transactions; all the information to be valid, free and balanced for all the market participants; transaction participants in the capital markets to have homogeneous foreseeing regarding the implications of the obtained information.
Cuvinte cheie: capital market, accountancy theory, decisions, financial information.
Cod JEL: O16 E36 M41
Autor(i): Bologa Gabriela
Rezumat: Traditionally the accountancy theory developed as a structure of principles that describe the practice. The sufficient conditions for a market to be efficient are: the lack of the costs of the title transactions; all the information to be valid, free and balanced for all the market participants; transaction participants in the capital markets to have homogeneous foreseeing regarding the implications of the obtained information.
Cuvinte cheie: capital market, accountancy theory, decisions, financial information.
Cod JEL: O16 E36 M41
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Paginatie: 997-1002
Titlul lucrarii: COMMENT PEUT-ON RщDUIRE LES DщCALAGES EXISTANTS
Autor(i): Botez Daniel
Rezumat: Changer, sТadapter, sont des mots qui circulent beaucoup en Roumanie depuis 18 ans. Faisant partie de lТancien bloc communiste de lТEst europщen, la Roumanie a fait sienne les principes de lТщconomie planifiщe, dont le systшme comptable, de contrЇle et dТaudit spщcifique р cette pщriode. Apres 1989, le systшme comptable roumain a connu, pendant la pщriode de 18 ans qui sТest щcoulщe depuis le changement de rщgime, trois changements ayant un caractшre significatif. Ces щvolutions se sont produites sous lТincidence dТun certain nombre de facteurs externes, mais щgalement internes.
Quel doit ъtre le rЇle des organisations de normalisation et des organisations professionnelles rщgionales et de quelle faчon peut-on soutenir le processus dТuniformisation des standards face р une mondialisation croissante?
Cuvinte cheie: changer, normalisation, organisations professionnelles, standards IFRS
Cod JEL: M41 M42
Autor(i): Botez Daniel
Rezumat: Changer, sТadapter, sont des mots qui circulent beaucoup en Roumanie depuis 18 ans. Faisant partie de lТancien bloc communiste de lТEst europщen, la Roumanie a fait sienne les principes de lТщconomie planifiщe, dont le systшme comptable, de contrЇle et dТaudit spщcifique р cette pщriode. Apres 1989, le systшme comptable roumain a connu, pendant la pщriode de 18 ans qui sТest щcoulщe depuis le changement de rщgime, trois changements ayant un caractшre significatif. Ces щvolutions se sont produites sous lТincidence dТun certain nombre de facteurs externes, mais щgalement internes.
Quel doit ъtre le rЇle des organisations de normalisation et des organisations professionnelles rщgionales et de quelle faчon peut-on soutenir le processus dТuniformisation des standards face р une mondialisation croissante?
Cuvinte cheie: changer, normalisation, organisations professionnelles, standards IFRS
Cod JEL: M41 M42
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Paginatie: 1003-1006
Titlul lucrarii: CONTINUING PROFESSIONAL DEVELOPMENT – A CONCEPT AND REQUIERMENT FOR PROFESSIONAL ACCOUNTANTS
Autor(i): Botez Daniel
Rezumat: IES 7 IFAC Standard prescribes that member bodies implement a continuing professional development (CPD) requirement as an integral component of a professional accountantТs continued membership. Such a requirement contributes to the professionТs objective of providing high-quality services to meet the needs of the public (including clients and employers).
This Standard introduces the concepts of continuing professional development as relevant, verifiable and measurable learning activities and outcomes.
Cuvinte cheie: continuing professional development, International Education Standards, professional accountants
Cod JEL: M41 M42
Autor(i): Botez Daniel
Rezumat: IES 7 IFAC Standard prescribes that member bodies implement a continuing professional development (CPD) requirement as an integral component of a professional accountantТs continued membership. Such a requirement contributes to the professionТs objective of providing high-quality services to meet the needs of the public (including clients and employers).
This Standard introduces the concepts of continuing professional development as relevant, verifiable and measurable learning activities and outcomes.
Cuvinte cheie: continuing professional development, International Education Standards, professional accountants
Cod JEL: M41 M42
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Paginatie: 1007-1010
Titlul lucrarii: THE FINANCIAL AUDIT – THE GUARANTOR OF THE TRUE AND FAIR VIEW SUPPLIED BY THE FINANCIAL STATEMENTS
Autor(i): Bota- Avram Florin, Matis Dumitru
Rezumat: Financial audit has the finality the issue of an opinion regarding the measure in which the financial statements are in according with the supreme scope of true and fair view and the respecting the referential of relevant accounting norms. Because of the subjectivity of this concept of “true and fair view” we can’t say that there are relevant instruments for measuring the level of fidelity reflected by the financial statements. Despite the fact that the auditors know that there is no formula, mathematical or other nature, through which to measure, quantify the level of the fidelity, but they have the knowledge and the capacity needed to identify at least those situations in which the true and fair view is not respected, using the professional judgment for establishing the level in which the financial statements gives a true and fair image.
Cuvinte cheie: financial audit, financial auditor, true and fair view, financial statements
Cod JEL: M41 M42
Autor(i): Bota- Avram Florin, Matis Dumitru
Rezumat: Financial audit has the finality the issue of an opinion regarding the measure in which the financial statements are in according with the supreme scope of true and fair view and the respecting the referential of relevant accounting norms. Because of the subjectivity of this concept of “true and fair view” we can’t say that there are relevant instruments for measuring the level of fidelity reflected by the financial statements. Despite the fact that the auditors know that there is no formula, mathematical or other nature, through which to measure, quantify the level of the fidelity, but they have the knowledge and the capacity needed to identify at least those situations in which the true and fair view is not respected, using the professional judgment for establishing the level in which the financial statements gives a true and fair image.
Cuvinte cheie: financial audit, financial auditor, true and fair view, financial statements
Cod JEL: M41 M42
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Paginatie: 1011-1016
Titlul lucrarii: CONSIDERATIONS REGARDING THE INTERNAL AUDIT IN ROMANIA
Autor(i): Bota-Avram Cristina
Rezumat: The evolution of the economical environment, where the companies works, determines the companies to search all the time solutions for improving the control over the activities developed. A solution is adopting the internal audit function, which offer the answers to the questions which, usual, the managers of the company make them himself referring to the way they and their collaborators could have a better and efficient control as they could have over the activities they have. The necessity of the internal audit function begins to be more important in the context of the Romanian economical environment which is more and more competitive and dynamic. In this article IТll try to get a vision more realistic of the level at which is situated internal audit in Romania, and also IТll try to find that spaces of this complex system, where we have to pass different difficulties paying attention for finding the necessary solutions to resolve them, participating in this way to the progress of the researched theme.
Cuvinte cheie: internal audit, internal control, internal auditors
Cod JEL: M41 M42
Autor(i): Bota-Avram Cristina
Rezumat: The evolution of the economical environment, where the companies works, determines the companies to search all the time solutions for improving the control over the activities developed. A solution is adopting the internal audit function, which offer the answers to the questions which, usual, the managers of the company make them himself referring to the way they and their collaborators could have a better and efficient control as they could have over the activities they have. The necessity of the internal audit function begins to be more important in the context of the Romanian economical environment which is more and more competitive and dynamic. In this article IТll try to get a vision more realistic of the level at which is situated internal audit in Romania, and also IТll try to find that spaces of this complex system, where we have to pass different difficulties paying attention for finding the necessary solutions to resolve them, participating in this way to the progress of the researched theme.
Cuvinte cheie: internal audit, internal control, internal auditors
Cod JEL: M41 M42
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Paginatie: 1017-1021
Titlul lucrarii: EXPORT BY AGENT – A CHALLENGE FOR THE TRADING COMPANIES IN SUCH FIELD, AS PER THE NEW REGULATIONS AFTER THE ACCESSION OF ROMANIA TO EU
Autor(i): Budacia Lucian Constantin Gabriel
Rezumat: Before the accession of Romania to the European Union, the export by agency, as means of indirect trade of goods aboard, was carried out by exterior trading companies (SCE), which carried out such activities on their behalf, but on the risk and account of export beneficiaries – usually manufacture facilities, which needed to find customers on the international market. After the accession of Romania to the European Union, we can notice two distinct situations for the goodsТ delivery carried out by means of an agent: 1. the agent acts as proxy, for and on behalf of the principal; 2. the agent acts as commission agent, on his own and for the principal.
Cuvinte cheie: export, agency, mandate
Cod JEL: F10 M41 F30
Autor(i): Budacia Lucian Constantin Gabriel
Rezumat: Before the accession of Romania to the European Union, the export by agency, as means of indirect trade of goods aboard, was carried out by exterior trading companies (SCE), which carried out such activities on their behalf, but on the risk and account of export beneficiaries – usually manufacture facilities, which needed to find customers on the international market. After the accession of Romania to the European Union, we can notice two distinct situations for the goodsТ delivery carried out by means of an agent: 1. the agent acts as proxy, for and on behalf of the principal; 2. the agent acts as commission agent, on his own and for the principal.
Cuvinte cheie: export, agency, mandate
Cod JEL: F10 M41 F30
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Paginatie: 1022-1026
Titlul lucrarii: EU – THE REGULATING LEGISLATIVE ENGINE OF ROMANIA IN TERMS OF VAT AFTER THE ACCESSION TO EU
Autor(i): Budacia Lucian Constantin Gabriel
Rezumat: The accession of Romania to EU involves the obligation to enforce the same rules as the other member states, VAT being a tax which must exist and which must not allow competition disturbance among the economic operators within different member states, as well as non-taxation or double taxation of the same operation in two different member states. The harmonization of VAT within EU has been done gradually. The value added tax (VAT) was established in the Economic European Community in 1970 by means of two “VAT Directives”. Representing the indirect tax with the highest weight in the GDP (Gross Domestic Product), the European Union has established an obligation according to which the member states contribute with a share of the cashed VAT to the EU budget.
Cuvinte cheie: EU, VAT, accession
Cod JEL: M41 M42
Autor(i): Budacia Lucian Constantin Gabriel
Rezumat: The accession of Romania to EU involves the obligation to enforce the same rules as the other member states, VAT being a tax which must exist and which must not allow competition disturbance among the economic operators within different member states, as well as non-taxation or double taxation of the same operation in two different member states. The harmonization of VAT within EU has been done gradually. The value added tax (VAT) was established in the Economic European Community in 1970 by means of two “VAT Directives”. Representing the indirect tax with the highest weight in the GDP (Gross Domestic Product), the European Union has established an obligation according to which the member states contribute with a share of the cashed VAT to the EU budget.
Cuvinte cheie: EU, VAT, accession
Cod JEL: M41 M42
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Paginatie: 1027-1031
Titlul lucrarii: ANALYSE DES PRATIQUES DE COMMUNICATION FINANCIâ•šRE UTILISâ•”ES PAR LES ENTREPRISES ROUMAINES COTâ•” A BVB (LES RAPPORTS ANNUELS PUBLIâ•” SUR SITE INTERNET)
Autor(i): Bunea Stefan
Rezumat: Pour la plupart des entreprises roumaines rщste une grande probleme de realisщ la publication d’ informations financiшres obligatoires dans les щtats financiшres. Il y a beaucoup des informations obligatoires qui ne sont pas obligatoires selon les normes roumaines . L’objectif de cette recherche est de rщaliser une analyse des facteurs de contingence sur la publication d’informations financiшres volontaires et de tirщr quelques conclusions pour les entreprises roumaines. Mщthodologie de recherche :-revue de la littщrature concernant le concept d’information volontaire, les contingences des informations volontaires ; -analyse des pratiques de communication financiшre utillisщes par les entreprises roumaines cotщ Ñ€ BVB (les rapports annuels publiщ sur site internet) et la compairaison avec les bonnes pratiques des entreprises cotщes sur les grandes marchщs financiers de L’UE ;
Cuvinte cheie: informations volontaires, contingence, bonnes pratiques de communication
Cod JEL: F10 F30 M41
Autor(i): Bunea Stefan
Rezumat: Pour la plupart des entreprises roumaines rщste une grande probleme de realisщ la publication d’ informations financiшres obligatoires dans les щtats financiшres. Il y a beaucoup des informations obligatoires qui ne sont pas obligatoires selon les normes roumaines . L’objectif de cette recherche est de rщaliser une analyse des facteurs de contingence sur la publication d’informations financiшres volontaires et de tirщr quelques conclusions pour les entreprises roumaines. Mщthodologie de recherche :-revue de la littщrature concernant le concept d’information volontaire, les contingences des informations volontaires ; -analyse des pratiques de communication financiшre utillisщes par les entreprises roumaines cotщ Ñ€ BVB (les rapports annuels publiщ sur site internet) et la compairaison avec les bonnes pratiques des entreprises cotщes sur les grandes marchщs financiers de L’UE ;
Cuvinte cheie: informations volontaires, contingence, bonnes pratiques de communication
Cod JEL: F10 F30 M41
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Paginatie: 1032-1038
Titlul lucrarii: ACCOUNTING TREATMENT OF DEFERRED INCOME TAXES ACCORDING TO THE REQUIREMENTS OF THE ROMANIAN ACCOUNTING REGULATIONS
Autor(i): Bunget Ovidiu Constantin, Dumitrescu Alin Constantin
Rezumat: Known as a debatable topic, the relationship between accounting and taxation still represents a field of convergence and divergence, of tolerance and intolerance. Therefore, the Romanian accountant is in permanent pursuit of quality accounting information and its impact on taxation. Currently, a great importance is granted to accounting judgements, and this is magnified by the fact that most fiscal contributions are based on accounting information. Deferred income taxes reconcile accounting profits with income taxes pursuant to the impact of temporary differences between the book value and tax value of assets and liabilities disclosed in the financial statements.
Cuvinte cheie: deferred income taxes, reserves, provisions, accounting
Cod JEL: M41 I38
Autor(i): Bunget Ovidiu Constantin, Dumitrescu Alin Constantin
Rezumat: Known as a debatable topic, the relationship between accounting and taxation still represents a field of convergence and divergence, of tolerance and intolerance. Therefore, the Romanian accountant is in permanent pursuit of quality accounting information and its impact on taxation. Currently, a great importance is granted to accounting judgements, and this is magnified by the fact that most fiscal contributions are based on accounting information. Deferred income taxes reconcile accounting profits with income taxes pursuant to the impact of temporary differences between the book value and tax value of assets and liabilities disclosed in the financial statements.
Cuvinte cheie: deferred income taxes, reserves, provisions, accounting
Cod JEL: M41 I38
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Paginatie: 1039-1043
Titlul lucrarii: THE SYSTEM OF COSTS BOOK-KEEPING AND CALCULATION ON PRODUCTION COMMANDS
Autor(i): Busan Gabriela, Ecobici Nicolae
Rezumat: The costs are registred in an accounting system in order to help managers in process of taking the various decisions. The costs objects (products and sections) illustrate two goals of internal book-keeping administration, thus: informations supply for plann and control and compute of products cost. In the system of costs book-keeping and calculation on production commands, the object cost is illustrated by one or many various units from a product or a service, named production command. In order to compute costs on production commands is used the effective costs method, which use effectives quotations for alloting the indirect costs and normal costs method, which used budgeting quotations in order to allot the indirect costs; the direct cost are assigned to the commands in the same manner. The costs calculation on commnands is useful in some services companies, such as expert book-keeping and consulting firms, advertising firms, car fixing workshops or hospitals.
Cuvinte cheie: costs objects, indirect costs, direct cost, effectives quotations, budgeting quotations
Cod JEL: M41 M42
Autor(i): Busan Gabriela, Ecobici Nicolae
Rezumat: The costs are registred in an accounting system in order to help managers in process of taking the various decisions. The costs objects (products and sections) illustrate two goals of internal book-keeping administration, thus: informations supply for plann and control and compute of products cost. In the system of costs book-keeping and calculation on production commands, the object cost is illustrated by one or many various units from a product or a service, named production command. In order to compute costs on production commands is used the effective costs method, which use effectives quotations for alloting the indirect costs and normal costs method, which used budgeting quotations in order to allot the indirect costs; the direct cost are assigned to the commands in the same manner. The costs calculation on commnands is useful in some services companies, such as expert book-keeping and consulting firms, advertising firms, car fixing workshops or hospitals.
Cuvinte cheie: costs objects, indirect costs, direct cost, effectives quotations, budgeting quotations
Cod JEL: M41 M42
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Paginatie: 1044-1047
Titlul lucrarii: ACCOUNTANCY BETWEEN TRADITIONALISM AND MODERNISM
Autor(i): Brabete Valeriu, Dragan Cristian
Rezumat: The character of social science, acquired by accountancy, correlated with the major mutations that were produced in the plane of the normalization and the assure of the convergence in the field, make from what we call now the accounting practice more than a simple application of a specific methodology. Modern accountancy represents not only an instrument through which it is assured the realization of the function of information and assistance of the decisional process, but also, in the actual context, having in mind the products that it provides, and the shape that it takes today, must be regarded as an important factor of influence of the economical-social environment.
Cuvinte cheie: accountancy, science, informatization, professional reasoning, evolution
Cod JEL: M41 M42
Autor(i): Brabete Valeriu, Dragan Cristian
Rezumat: The character of social science, acquired by accountancy, correlated with the major mutations that were produced in the plane of the normalization and the assure of the convergence in the field, make from what we call now the accounting practice more than a simple application of a specific methodology. Modern accountancy represents not only an instrument through which it is assured the realization of the function of information and assistance of the decisional process, but also, in the actual context, having in mind the products that it provides, and the shape that it takes today, must be regarded as an important factor of influence of the economical-social environment.
Cuvinte cheie: accountancy, science, informatization, professional reasoning, evolution
Cod JEL: M41 M42
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Paginatie: 1048-1052
Titlul lucrarii: THE JUST EVALUATION OF NON-CURRENT INTANGIBLE ASSETS FOR FINANCIAL REPORTING
Autor(i): Breban Ludovica, Bochis Leonica, Sucala Lucia, Dumbrava Partenie
Rezumat: Enterprises frequently expend resources, or incur liabilities, on the acquisition, development, maintenance or enhancement of intangible resources such as, scientific or technical knowledge, design and implementation of new processes or systems, licences, intellectual property, market knowledge and trade-works (including brand names and publishing titles). Examples of items encompassed software, patents, copyrights motion picture films, customer lists, fishing licence import quotas franchises customer or supplier relationship, customer loyalty market shore and marketing rights
Cuvinte cheie: financial reporting, intangible assets, just value
Cod JEL: E44 F36 M41
Autor(i): Breban Ludovica, Bochis Leonica, Sucala Lucia, Dumbrava Partenie
Rezumat: Enterprises frequently expend resources, or incur liabilities, on the acquisition, development, maintenance or enhancement of intangible resources such as, scientific or technical knowledge, design and implementation of new processes or systems, licences, intellectual property, market knowledge and trade-works (including brand names and publishing titles). Examples of items encompassed software, patents, copyrights motion picture films, customer lists, fishing licence import quotas franchises customer or supplier relationship, customer loyalty market shore and marketing rights
Cuvinte cheie: financial reporting, intangible assets, just value
Cod JEL: E44 F36 M41
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Paginatie: 1053-1057
Titlul lucrarii: ASPECTS REGARDING THE APPLICATION OF DIRECT-COSTING IN TAKING THE MANAGERIAL DECISIONS
Autor(i): Briciu Sorin, Sas Florentina
Rezumat: Direct-costing represents a method of calculation which, although can not be used in financial reporting, represents a very strong instrument of analysis within reach of enterpriseТs management. The method direct-costing requires the delimitation between the variable and fixed costs and including in the cost of production of the variable costs, the fixed costs being considered costs of the period. Another important aspect is the difference between the methods of absorbent costs and the method direct costing. The making of rational decisions that can permit the obtaining of optimum results can be made only if it is taken into account the correlation between the fixed costs, the variable costs, the volume of activity and the price of selling of the products, correlation given by the specific indicators of the method direct-costing.
Cuvinte cheie: Direct-costing, variable cost, fixed cost, cost of sub activity
Cod JEL: M41 M42
Autor(i): Briciu Sorin, Sas Florentina
Rezumat: Direct-costing represents a method of calculation which, although can not be used in financial reporting, represents a very strong instrument of analysis within reach of enterpriseТs management. The method direct-costing requires the delimitation between the variable and fixed costs and including in the cost of production of the variable costs, the fixed costs being considered costs of the period. Another important aspect is the difference between the methods of absorbent costs and the method direct costing. The making of rational decisions that can permit the obtaining of optimum results can be made only if it is taken into account the correlation between the fixed costs, the variable costs, the volume of activity and the price of selling of the products, correlation given by the specific indicators of the method direct-costing.
Cuvinte cheie: Direct-costing, variable cost, fixed cost, cost of sub activity
Cod JEL: M41 M42
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Paginatie: 1058-1064
Titlul lucrarii: THE EFFECTS OF THE EU ACCESSION ON THE REGULATION OF THE ROMANIA CAPITAL MARKET
Autor(i): Caciuc Leonora, Farcane Nicoleta, Megan Ovidiu
Rezumat: The positioning of the Romanian capital market within the national, international and European context was and currently is a continuous challenge for public and professional institutions in this field.
The legislation regarding the Romanian capital market was developed in a couple of stages, its benchmarks being the privatization law, the stock exchange law, the set up of the National Commission for Marketable Securities (CNVM) and the start-up of authorizing and controlling the capital market.
The aim of our study is to present a picture of the Romanian capital market in compliance with the EU Directives adopted between 2004 and 2006, but also in 2007. This article shall ascertain the impact of RomaniaТs accession to the European Union on the national capital market, by means of integral harmonization with the European Aquis.
Cuvinte cheie: capital market, EU accession, accounting regulation
Cod JEL: F32 M41
Autor(i): Caciuc Leonora, Farcane Nicoleta, Megan Ovidiu
Rezumat: The positioning of the Romanian capital market within the national, international and European context was and currently is a continuous challenge for public and professional institutions in this field.
The legislation regarding the Romanian capital market was developed in a couple of stages, its benchmarks being the privatization law, the stock exchange law, the set up of the National Commission for Marketable Securities (CNVM) and the start-up of authorizing and controlling the capital market.
The aim of our study is to present a picture of the Romanian capital market in compliance with the EU Directives adopted between 2004 and 2006, but also in 2007. This article shall ascertain the impact of RomaniaТs accession to the European Union on the national capital market, by means of integral harmonization with the European Aquis.
Cuvinte cheie: capital market, EU accession, accounting regulation
Cod JEL: F32 M41
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Paginatie: 1065-1072
Titlul lucrarii: DIRECTIONS DANS LA NORMALISATION COMPTABLE EN ROUMANIE
Autor(i): Calu Daniela Artemisa, Avram Viorel, Gorgan Catalina
Rezumat: Au niveau international, le processus de la normalisation comptable peut ъtre plutЇt dщductif, matщrialisщ par lТutilisation des cadres comptables conceptuels, ou plutЇt inductif, matщrialisщ par lТutilisation du plan gщnщral des comptes. La prщfщrence pour lТun ou lТautre des algorithmes de normalisation dщpend des facteurs de lТenvironnement, mais щgalement des ceux щconomiques et politiques qui agissent dans un systшme comptable р un moment donnщ. CТest connu le fait que dans le milieu comptable continental on retrouve la tendance dТune normalisation comptable surtout inductive, tandis que dans le milieu anglo-saxon, on prщfшre une normalisation comptable ayant р la base les cadres comptables conceptuels. Pour lТesquisse dТun trend de la future normalisation comptable en Roumanie, notre projet est structurщ sur deux dimensions: la mise en щvidence de quelques repшres historiques de la normalisation comptable en Roumanie et lТanalyse du contexte international.
Cuvinte cheie: la normalisation comptable, le plan gщnщral des comptes, le cadre comptable conceptuel
Cod JEL: F30 F10 M41
Autor(i): Calu Daniela Artemisa, Avram Viorel, Gorgan Catalina
Rezumat: Au niveau international, le processus de la normalisation comptable peut ъtre plutЇt dщductif, matщrialisщ par lТutilisation des cadres comptables conceptuels, ou plutЇt inductif, matщrialisщ par lТutilisation du plan gщnщral des comptes. La prщfщrence pour lТun ou lТautre des algorithmes de normalisation dщpend des facteurs de lТenvironnement, mais щgalement des ceux щconomiques et politiques qui agissent dans un systшme comptable р un moment donnщ. CТest connu le fait que dans le milieu comptable continental on retrouve la tendance dТune normalisation comptable surtout inductive, tandis que dans le milieu anglo-saxon, on prщfшre une normalisation comptable ayant р la base les cadres comptables conceptuels. Pour lТesquisse dТun trend de la future normalisation comptable en Roumanie, notre projet est structurщ sur deux dimensions: la mise en щvidence de quelques repшres historiques de la normalisation comptable en Roumanie et lТanalyse du contexte international.
Cuvinte cheie: la normalisation comptable, le plan gщnщral des comptes, le cadre comptable conceptuel
Cod JEL: F30 F10 M41
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Paginatie: 1073-1078
Titlul lucrarii: THE INFLUENCE OF ENTERPRISE ARCHITECTURE ON THE INTERNAL AUDIT
Autor(i): Cardos Vasile Daniel, Volkan Ildiko Reka
Rezumat: Information technology (IT) has a pervasive influence and it is a critical factor in many organizations. As such, itТs often one of the most valuable assets an organization owns and uses as a cost-effective tool to attain their goals. But IT can also be a failure factor if the strategy used in designing, deploying and maintaining the IT architecture doesnТt meet or converge with the overall strategy of the organization and itТs continuous need for information. Enterprise architecture incorporates the main enablers an entity needs to achieve this convergence. From the internal auditТs function perspective this can raise a wide range of challenges due to business strategy amendments that has an influence on the information system and the supporting technical architecture. The aim of this article is to set off the way an enterpriseТs architecture influences the work of the internal auditor in performing an IT audit.
Cuvinte cheie: internal audit, IT audit, enterprise architecture
Cod JEL: M41 M42 L86
Autor(i): Cardos Vasile Daniel, Volkan Ildiko Reka
Rezumat: Information technology (IT) has a pervasive influence and it is a critical factor in many organizations. As such, itТs often one of the most valuable assets an organization owns and uses as a cost-effective tool to attain their goals. But IT can also be a failure factor if the strategy used in designing, deploying and maintaining the IT architecture doesnТt meet or converge with the overall strategy of the organization and itТs continuous need for information. Enterprise architecture incorporates the main enablers an entity needs to achieve this convergence. From the internal auditТs function perspective this can raise a wide range of challenges due to business strategy amendments that has an influence on the information system and the supporting technical architecture. The aim of this article is to set off the way an enterpriseТs architecture influences the work of the internal auditor in performing an IT audit.
Cuvinte cheie: internal audit, IT audit, enterprise architecture
Cod JEL: M41 M42 L86
Text complet
Paginatie: 1079-1084
Titlul lucrarii: THE REFLECTION OF THE DUALITY IN THE PUBLIC ACCOUNTING OF THE BUDGETARY INCOMES AND EXPENSES
Autor(i): Cenar Iuliana
Rezumat: The public institutions accounting remains a budgetary accounting, because the central axe in which she builds the accounting information is the budget. This is the legal document, which establishes also in nature and in measure of the mobilized incomes to the state as well as the way volume of the budgetary allocations, which will be lead by the state for the finance of different activities during a year. The paper Ñ‚ÐЮThe reflection of the duality in the public accounting of the budgetary incomes and expensesÑ‚ÐÐ presents the real accounting way of the budgetary incomes and expenses at the level of the state treasury in it’s quality of cash collector of the public sector, and also at the level of the public institutions through which are realized operations which are supposed by the budgetary execution.
Cuvinte cheie: Accounting, Treasury, Public Institutions, Incomes, Expenses.
Cod JEL: M41 E64
Autor(i): Cenar Iuliana
Rezumat: The public institutions accounting remains a budgetary accounting, because the central axe in which she builds the accounting information is the budget. This is the legal document, which establishes also in nature and in measure of the mobilized incomes to the state as well as the way volume of the budgetary allocations, which will be lead by the state for the finance of different activities during a year. The paper Ñ‚ÐЮThe reflection of the duality in the public accounting of the budgetary incomes and expensesÑ‚ÐÐ presents the real accounting way of the budgetary incomes and expenses at the level of the state treasury in it’s quality of cash collector of the public sector, and also at the level of the public institutions through which are realized operations which are supposed by the budgetary execution.
Cuvinte cheie: Accounting, Treasury, Public Institutions, Incomes, Expenses.
Cod JEL: M41 E64
Text complet
Paginatie: 1085-1089
Titlul lucrarii: CONSEQUENCES OF THE INFLATION OVER THE CONTINUITY OF ENTERPRISES` ACTIVITY
Autor(i): Cozma Ighian Diana
Rezumat: In conditions of inflation, the historical costs accounting, related to a basic principle of accountancy, that is the caution principle, lead to the enterprises decapitalization, with serious consequences over the continuity of the activity in conditions of economic efficiency. Therefore, finding new alternatives which could lead to the removal of this deficiency in the traditional accounting model, in conditions of inflation, is an imperative. In this context, the major objective of the firms that carry on their activity in an inflationist environment is to maintain their capital, as well as to secure a profit which can ensure the maintenance of the capital, the continuity of the activity depending mainly of its fulfillment.
Cuvinte cheie: inflation, financial capital, physical capital
Cod JEL: E31 F36 M41
Autor(i): Cozma Ighian Diana
Rezumat: In conditions of inflation, the historical costs accounting, related to a basic principle of accountancy, that is the caution principle, lead to the enterprises decapitalization, with serious consequences over the continuity of the activity in conditions of economic efficiency. Therefore, finding new alternatives which could lead to the removal of this deficiency in the traditional accounting model, in conditions of inflation, is an imperative. In this context, the major objective of the firms that carry on their activity in an inflationist environment is to maintain their capital, as well as to secure a profit which can ensure the maintenance of the capital, the continuity of the activity depending mainly of its fulfillment.
Cuvinte cheie: inflation, financial capital, physical capital
Cod JEL: E31 F36 M41
Text complet
Paginatie: 1090-1097
Titlul lucrarii: LEASES IN THE FINANCIAL STATEMENTS OF LESSORS
Autor(i): Crisan Cornel, Breban Ludovica, Mates Dorel, Rosu Alexandra
Rezumat: The objective of IAS17 Leases is the prescribed for lessees and lessors, the appropriate accountancy policies and disclosure to apply in relation to finance and operating leases.
This Standard applies to agreements that transfer the right to use assets even though substantial services by the lessor may be called for no other brand, this Standard does not apply to agreements that are contracts for services that do not transfer the right to use assets from one contracting party to the other.
Cuvinte cheie: leases, lessor, finance leases, operating leases
Cod JEL: F30 M41
Autor(i): Crisan Cornel, Breban Ludovica, Mates Dorel, Rosu Alexandra
Rezumat: The objective of IAS17 Leases is the prescribed for lessees and lessors, the appropriate accountancy policies and disclosure to apply in relation to finance and operating leases.
This Standard applies to agreements that transfer the right to use assets even though substantial services by the lessor may be called for no other brand, this Standard does not apply to agreements that are contracts for services that do not transfer the right to use assets from one contracting party to the other.
Cuvinte cheie: leases, lessor, finance leases, operating leases
Cod JEL: F30 M41
Text complet
Paginatie: 1098-1100
Titlul lucrarii: METHODS USED FOR TREATING THE UNDERGROUND ECONOMY IN ROMANIA
Autor(i): Criveanu Maria, Mihai Magdalena
Rezumat: Starting with the first days of the year 1990, there were created groups of interests specialized in contraband operations, both for exportation and for importation, in operations of speculation with scarce products, in performing some services of transport-taxi, public alimentation, etc. There were the first component elements of the black economy that appeared and developed in Romania, the incomes of which were important in most cases and constituted the necessary capital for initiation in legal organized businesses. Among the component elements of black economy, the most spread in our country were the activities performed without registering, tax dodging and black labour.
Cuvinte cheie: fiscal fraud, black labour, formal sector, informal sector
Cod JEL: D73 M41
Autor(i): Criveanu Maria, Mihai Magdalena
Rezumat: Starting with the first days of the year 1990, there were created groups of interests specialized in contraband operations, both for exportation and for importation, in operations of speculation with scarce products, in performing some services of transport-taxi, public alimentation, etc. There were the first component elements of the black economy that appeared and developed in Romania, the incomes of which were important in most cases and constituted the necessary capital for initiation in legal organized businesses. Among the component elements of black economy, the most spread in our country were the activities performed without registering, tax dodging and black labour.
Cuvinte cheie: fiscal fraud, black labour, formal sector, informal sector
Cod JEL: D73 M41
Text complet
Paginatie: 1101-1105
Titlul lucrarii: JURIDICAL TREATMENT AND ACCOUNTING REGARDING THE DAMAGES CAUSED BY AN EMPLOYEE TO HIS EMPLOYER
Autor(i): Crumpana Elena-Diana, Suiu Ion
Rezumat: The new Labor Code adopted in 2003 in order to adjust the legislation to the European regulations brought significant changes in what regards the employment contract that also affected the accountancy related to it.
At a glance, one could say that accountancy of the damages caused by the employee to his employer couldnТt arise any real difficulties. Nevertheless, the new labor Code completely removed the old form of the civil responsibility of the parties of the employment contract, meaning the material responsibility, which generated in our opinion significant changes in what regards the accountancy of the damages caused by the employees to
Their employer. In this paper, by an interdisciplinary approach, we are going to present certain difficulties that could be found in practice with a view to the registration of such debts in the accountancy of the commercial societies (firms) submitted to the provisions of the Law 82/1991 – the accountancy law.
Cuvinte cheie: Civil responsibility, Damages, Employment contract, Accountancy, Debtor, Debt recovery, Guarantee, Deduction
Cod JEL: M41 K10
Autor(i): Crumpana Elena-Diana, Suiu Ion
Rezumat: The new Labor Code adopted in 2003 in order to adjust the legislation to the European regulations brought significant changes in what regards the employment contract that also affected the accountancy related to it.
At a glance, one could say that accountancy of the damages caused by the employee to his employer couldnТt arise any real difficulties. Nevertheless, the new labor Code completely removed the old form of the civil responsibility of the parties of the employment contract, meaning the material responsibility, which generated in our opinion significant changes in what regards the accountancy of the damages caused by the employees to
Their employer. In this paper, by an interdisciplinary approach, we are going to present certain difficulties that could be found in practice with a view to the registration of such debts in the accountancy of the commercial societies (firms) submitted to the provisions of the Law 82/1991 – the accountancy law.
Cuvinte cheie: Civil responsibility, Damages, Employment contract, Accountancy, Debtor, Debt recovery, Guarantee, Deduction
Cod JEL: M41 K10
Text complet
Paginatie: 1107-1112
Titlul lucrarii: ACCOUNTING INFORMATION IN THE POLICY AND GENERAL STRATEGY FOR THE ADMINISTRATION OF LENDING CREDIT RISKS
Autor(i): Danciu Florina Raduta, Cotlet Dumitru
Rezumat: Any credit represents an anticipation of some future cashing. From this perspective, by cash flow, any credit contains the risk that these cashing isnТt achieved totally or partly. This risk is also called insolvency risk of the creditor; it is essential in the banking activity due to the fact that the main function of a bank represents the granting of credits. The exact appreciation of the credit risk is, thus, of major importance for the bank. Being easier to prevent than to cure, for the minimization of the risk exposal, the most important stage of the crediting process is the choosing of the credit demands. In this stage, the behaviour of a bank might be presented as follows: a credit is granted only if there might be estimated that the probability of reimbursement exceeds the one of non – reimbursement. The appreciation of this reimbursement capacity might be done if it has at its base different procedures, according to the debtor: economic agent, private person, State. The determining elements for the administration of the lend risk are: payment capacity, character of the debtor – his wish to pay, the capital – wealth of the debtor, the guarantee (real or personal), all based on book information.
Cuvinte cheie: lend risk client, book information, cash flow
Cod JEL: D81 M41
Autor(i): Danciu Florina Raduta, Cotlet Dumitru
Rezumat: Any credit represents an anticipation of some future cashing. From this perspective, by cash flow, any credit contains the risk that these cashing isnТt achieved totally or partly. This risk is also called insolvency risk of the creditor; it is essential in the banking activity due to the fact that the main function of a bank represents the granting of credits. The exact appreciation of the credit risk is, thus, of major importance for the bank. Being easier to prevent than to cure, for the minimization of the risk exposal, the most important stage of the crediting process is the choosing of the credit demands. In this stage, the behaviour of a bank might be presented as follows: a credit is granted only if there might be estimated that the probability of reimbursement exceeds the one of non – reimbursement. The appreciation of this reimbursement capacity might be done if it has at its base different procedures, according to the debtor: economic agent, private person, State. The determining elements for the administration of the lend risk are: payment capacity, character of the debtor – his wish to pay, the capital – wealth of the debtor, the guarantee (real or personal), all based on book information.
Cuvinte cheie: lend risk client, book information, cash flow
Cod JEL: D81 M41
Text complet
Paginatie: 1113-1116
Titlul lucrarii: ACCOUNTING APPROACHES REGARDING THE FACTORING BUSINESS
Autor(i): David Delia
Rezumat: Factoring is a modern technique of financing that is done especially in the countries which are developed from an economic point of view, the most important markets being the United States, Italy, Great Britain and Japan. In Romania, three- four years ago, factoring was a notion which was not too much utilized, but nowadays it tends to become a customary practice due to the needs of financing of the commercial societies.
This paper has as its goal a short presentation of the factoring operation and of the implications that these operations have upon the accounting of the factor but also of the adherent.
Cuvinte cheie: factoring, factor, factoring client, factoring debtor, cession of debts
Cod JEL: M41 F30
Autor(i): David Delia
Rezumat: Factoring is a modern technique of financing that is done especially in the countries which are developed from an economic point of view, the most important markets being the United States, Italy, Great Britain and Japan. In Romania, three- four years ago, factoring was a notion which was not too much utilized, but nowadays it tends to become a customary practice due to the needs of financing of the commercial societies.
This paper has as its goal a short presentation of the factoring operation and of the implications that these operations have upon the accounting of the factor but also of the adherent.
Cuvinte cheie: factoring, factor, factoring client, factoring debtor, cession of debts
Cod JEL: M41 F30
Text complet
Paginatie: 1117-1122
Titlul lucrarii: UTILIZING THE OPERATION OF FORFEITING AS A TECHNIQUUE OF FINANCING AND UNDERLINING THE IMPACT WHICH THIS OPERATION HAS ON THE ACCOUNTING OF THE EXPORTER
Autor(i): David Delia
Rezumat: Romanian integration into European Union brought about a series of changes, including the domain of banking activities.The first operations of forfeiting appeared in Switzerland , and today they are used all over the world’s financial centres.Forfeiting strongly developed during the 1990s as a result of opening of new markets in Central Europe and Eastern Europe due to the existance of enough buyers of goods but lack of financial resources for their aquisition.This paper has as its goal a short description of the forfeiting operation and the advantages which it offers in relation with other techniques of financing which are utilized in our country, such as: bank loans, bank rating, leasing, factoring. The flux of records in the accounting of the exporter which utilzes this technique of financing is also presented.
Cuvinte cheie: forfeiting, debts, commercial effects, contract, accounting records.
Cod JEL: F10 F30 M41
Autor(i): David Delia
Rezumat: Romanian integration into European Union brought about a series of changes, including the domain of banking activities.The first operations of forfeiting appeared in Switzerland , and today they are used all over the world’s financial centres.Forfeiting strongly developed during the 1990s as a result of opening of new markets in Central Europe and Eastern Europe due to the existance of enough buyers of goods but lack of financial resources for their aquisition.This paper has as its goal a short description of the forfeiting operation and the advantages which it offers in relation with other techniques of financing which are utilized in our country, such as: bank loans, bank rating, leasing, factoring. The flux of records in the accounting of the exporter which utilzes this technique of financing is also presented.
Cuvinte cheie: forfeiting, debts, commercial effects, contract, accounting records.
Cod JEL: F10 F30 M41
Text complet
Paginatie: 1123-1127
Titlul lucrarii: VALUATION OF INVENTORIES CONSIDERING THE FAIR VALUE OPTIONS
Autor(i): Deaconu Adela, Bonaci Carmen, Popa Ioan
Rezumat: Our paper represents a pleading for fair value in the specific case of valuating inventories. The real significance and implications of fair value can only be seen after analyzing the topic from different points of view concerning all involved actors. Therefore we have based our scientific demarche on analyzing the trade literature and comparing the foresights of international regulations given by both the accounting setting bodies and the valuation setting bodies. Moreover we have followed two of the three moments which require valuation and for these moments we have selected those cases which require the using of fair value. Our opinion regarding the findings of the research is expresses by giving practical examples for the specific application of fair value and the way to reach it.
Cuvinte cheie: Fair value, inventories, recognition, market value
Cod JEL: D46 M41
Autor(i): Deaconu Adela, Bonaci Carmen, Popa Ioan
Rezumat: Our paper represents a pleading for fair value in the specific case of valuating inventories. The real significance and implications of fair value can only be seen after analyzing the topic from different points of view concerning all involved actors. Therefore we have based our scientific demarche on analyzing the trade literature and comparing the foresights of international regulations given by both the accounting setting bodies and the valuation setting bodies. Moreover we have followed two of the three moments which require valuation and for these moments we have selected those cases which require the using of fair value. Our opinion regarding the findings of the research is expresses by giving practical examples for the specific application of fair value and the way to reach it.
Cuvinte cheie: Fair value, inventories, recognition, market value
Cod JEL: D46 M41
Text complet 1
Paginatie: 1128-1133
Titlul lucrarii: SYSTEM OF ACCOUNTS SPECIFIC TO THE MANAGEMENT ACCOUNTING IN WHOLESALE TRADE
Autor(i): Deju Mihai
Rezumat: According to the Romanian accounting norms, management accounting is organized at the level of each patrimonial unit according the specificity and information needs; and they have the possibility to create and use their own system of accounts, adapted to the viewed aims.
In this paper we present a system of account specific to the organization of the management accounting on responsibility centres in wholesale trade units.
Cuvinte cheie: system, accounts, management
Cod JEL: H63 M41
Autor(i): Deju Mihai
Rezumat: According to the Romanian accounting norms, management accounting is organized at the level of each patrimonial unit according the specificity and information needs; and they have the possibility to create and use their own system of accounts, adapted to the viewed aims.
In this paper we present a system of account specific to the organization of the management accounting on responsibility centres in wholesale trade units.
Cuvinte cheie: system, accounts, management
Cod JEL: H63 M41
Text complet
Paginatie: 1134-1140
Titlul lucrarii: MANAGEMENT ACCOUNTING ORGANIZATION IN WHOLE SALE TRADE -CHARACTERISTICS
Autor(i): Deju Mihai
Rezumat: The characteristics of management accounting organization in wholesale trade enterprises are based on their unstandardized character, fact that gives enterprises the possibility to establish an independent management accounting system, conditioned by the following factors:
– the specificity of the goods supply and selling activity;
– the organizational structure of wholesale trade enterprises;
– the concept of cost used in establishing the results and performances of responsibility centres;
– the system of economic and financial indicators of return analysis and control
Cuvinte cheie: characteristics, accounting, management
Cod JEL: M41 M42 H63
Autor(i): Deju Mihai
Rezumat: The characteristics of management accounting organization in wholesale trade enterprises are based on their unstandardized character, fact that gives enterprises the possibility to establish an independent management accounting system, conditioned by the following factors:
– the specificity of the goods supply and selling activity;
– the organizational structure of wholesale trade enterprises;
– the concept of cost used in establishing the results and performances of responsibility centres;
– the system of economic and financial indicators of return analysis and control
Cuvinte cheie: characteristics, accounting, management
Cod JEL: M41 M42 H63
Text complet
Paginatie: 1141-1146
Titlul lucrarii: THE QUALITY OF THE BOOK-KEEPING INFORMATION – ESSENTIAL CONDITION IN ORDER TO MAKE EFFICIENT DECISIONS
Autor(i): Diaconu Elena
Rezumat: The accountancy, as language of business, must keep up with the evolutions which have been registered in the fields of economical life and the need to promote unanimously accepted concepts prove its usefulness more and more.
The contribution of the accountancy in the achievement of managersТ strategic objectives manifests itself under the form of the assurance of necessary information in order to gain control and to determine the degree of responsibility and of the effect at different jobs. This thing allows the tracking down of internal reserves, of non-economical expenses and of losses.
In other words, the book-keeping information constitues the most important source, the Дdata baseФ of the leadership in the process of making decisions. Thus the accountancy becomes needful in the leadership activity of economical entities, indifferently of the activity which they develop.
Cuvinte cheie: Key words: book-keeping information, qualitative characteristics, relevance, users, decision
Cod JEL: D70 M41
Autor(i): Diaconu Elena
Rezumat: The accountancy, as language of business, must keep up with the evolutions which have been registered in the fields of economical life and the need to promote unanimously accepted concepts prove its usefulness more and more.
The contribution of the accountancy in the achievement of managersТ strategic objectives manifests itself under the form of the assurance of necessary information in order to gain control and to determine the degree of responsibility and of the effect at different jobs. This thing allows the tracking down of internal reserves, of non-economical expenses and of losses.
In other words, the book-keeping information constitues the most important source, the Дdata baseФ of the leadership in the process of making decisions. Thus the accountancy becomes needful in the leadership activity of economical entities, indifferently of the activity which they develop.
Cuvinte cheie: Key words: book-keeping information, qualitative characteristics, relevance, users, decision
Cod JEL: D70 M41
Text complet
Paginatie: 1147-1151
Titlul lucrarii: THE PARTICULARITIES OF TOURISM AND PUBLIC FEEDING PROCESSES AND THEIR INFLUENCE UPON THE ACCOUNTING MANAGEMENT
Autor(i): Diaconu Elena
Rezumat: The importance of the two fields of activity – tourism and public feeding – within the national economy frame, constitute the first reason as regards the choise of the research theme.
The second reason that we had in view, as important as, the first one, is the place and the role of accountancy in the managerial process.
The implications concerning the particularities of the two types of the activities upon accountancy are multiple, but we only kept in mind some of these considered more important by the specialists.
Cuvinte cheie: Key words: tourism, public feeding, distinct features, system of accounts, accounting technique.
Cod JEL: L83 M41
Autor(i): Diaconu Elena
Rezumat: The importance of the two fields of activity – tourism and public feeding – within the national economy frame, constitute the first reason as regards the choise of the research theme.
The second reason that we had in view, as important as, the first one, is the place and the role of accountancy in the managerial process.
The implications concerning the particularities of the two types of the activities upon accountancy are multiple, but we only kept in mind some of these considered more important by the specialists.
Cuvinte cheie: Key words: tourism, public feeding, distinct features, system of accounts, accounting technique.
Cod JEL: L83 M41
Text complet
Paginatie: 1152-1156
Titlul lucrarii: THE INFORMATIONAL VALENCES OF THE FRENCH FINANCIAL STATEMENTS\’ SCHEDULE
Autor(i): Doinea Ovidia
Rezumat: The schedule to the French financial statements is completing and commenting at the same time the information given by the balance and the result account, representing an essential instrument for the reflection of the true image of the enterprise’s patrimony, financial statement and result.
The schedule is defined as a document including the explanations necessary for a better understanding of the other synthetic documents and completes or presents under another shape the information within those.
The structure of the schedule depends on the size of the enterprise, having two formats: simplified schedule and basic schedule.
Besides the compulsory information stipulated by the legislation, other information considered necessary and relevant for the achieving of the true image will be recorded as well.
Cuvinte cheie: schedule, synthetic documents, true image, basic schedule, simplified schedule
Cod JEL: M41
Autor(i): Doinea Ovidia
Rezumat: The schedule to the French financial statements is completing and commenting at the same time the information given by the balance and the result account, representing an essential instrument for the reflection of the true image of the enterprise’s patrimony, financial statement and result.
The schedule is defined as a document including the explanations necessary for a better understanding of the other synthetic documents and completes or presents under another shape the information within those.
The structure of the schedule depends on the size of the enterprise, having two formats: simplified schedule and basic schedule.
Besides the compulsory information stipulated by the legislation, other information considered necessary and relevant for the achieving of the true image will be recorded as well.
Cuvinte cheie: schedule, synthetic documents, true image, basic schedule, simplified schedule
Cod JEL: M41
Text complet
Paginatie: 1157-1160
Titlul lucrarii: SUSTAINABLE DEVELOPMENT INDICATORS: HUMAN CAPITAL AND ACCOUNTING
Autor(i): Dumitrana Mihaela, Jianu Iulia, Dumitru Madalina, Jinga Gabriel
Rezumat: This paper wants to reveal the importance of Sustainable Development (SD) as a new concept and also the measurement of sustainable development indicators (SDI) on a capital approach. Capital approach is a new concept for SDI measurement so that the research team considered that it is interesting to present this approach. The teamТs preoccupation was human capital (HC) as a concept and valuation and also some possible contributions that make clear this concept and how organizations must act and how accounting must provide information.
Cuvinte cheie: sustainable development, sustainable development indicators, human capital, accounting
Cod JEL: M41 O10
Autor(i): Dumitrana Mihaela, Jianu Iulia, Dumitru Madalina, Jinga Gabriel
Rezumat: This paper wants to reveal the importance of Sustainable Development (SD) as a new concept and also the measurement of sustainable development indicators (SDI) on a capital approach. Capital approach is a new concept for SDI measurement so that the research team considered that it is interesting to present this approach. The teamТs preoccupation was human capital (HC) as a concept and valuation and also some possible contributions that make clear this concept and how organizations must act and how accounting must provide information.
Cuvinte cheie: sustainable development, sustainable development indicators, human capital, accounting
Cod JEL: M41 O10
Text complet
Paginatie: 1161-1165
Titlul lucrarii: DEVELOPMENTS REGARDING THE MANAGEMENT ACCOUNTING- WHERE ARE WE AND WHERE ARE WE HEADING TO IN THE CALCULATION OF THE COSTS?
Autor(i): Dumitru Graziella Corina, Ristea Mihai, Curpan Alina Mihaela, Samara Taulea Silvia
Rezumat: Starting from the reality according to which, from the objectives of the management accounting, for the model adopted in Romania, the objective regarding the stocks management lacks – this one being realized through the financial book-keeping – a main objective of the study is represented by the presentation of two models of book-keeping which allow the passage of the actual model based on the analytic calculation of the costs, to the model centered on the analytic calculation of the result, pattern oriented at the same time towards the stock management. Also, we appreciate that in the profit and loss account we must renounce to the conflict between the analysis of the expenses by nature and destination. The solution proposed – that of the passage from the results account by nature to the results account by functions – constitutes the second objective of the study and it is based upon the reclassification or the re-composition of the expenses depending on their function and destination.
Cuvinte cheie: the analytic calculation of the costs, the analytic calculation of the result, monist conception versus dualist conception, nature-destination conflict.
Cod JEL: D23 M41 D61
Autor(i): Dumitru Graziella Corina, Ristea Mihai, Curpan Alina Mihaela, Samara Taulea Silvia
Rezumat: Starting from the reality according to which, from the objectives of the management accounting, for the model adopted in Romania, the objective regarding the stocks management lacks – this one being realized through the financial book-keeping – a main objective of the study is represented by the presentation of two models of book-keeping which allow the passage of the actual model based on the analytic calculation of the costs, to the model centered on the analytic calculation of the result, pattern oriented at the same time towards the stock management. Also, we appreciate that in the profit and loss account we must renounce to the conflict between the analysis of the expenses by nature and destination. The solution proposed – that of the passage from the results account by nature to the results account by functions – constitutes the second objective of the study and it is based upon the reclassification or the re-composition of the expenses depending on their function and destination.
Cuvinte cheie: the analytic calculation of the costs, the analytic calculation of the result, monist conception versus dualist conception, nature-destination conflict.
Cod JEL: D23 M41 D61
Text complet
Paginatie: 1166-1171
Titlul lucrarii: A MANAGEMENT CONTROL MODEL DESIGNED FOR A DISTRIBUTION COMPANY
Autor(i): Dumitru Madalina, Dumitrana Mihaela Adriana, Glavan Elena Mariana, Radu Gabriel
Rezumat: Generally, the concept of management control is associated to the production companies more than to the distribution ones. That is why, the research team considers that creating a management control model for the distribution companies should interest especially the practitioners. In this paper we will present the steps to be followed in the elaboration of a management control model based on the targets set by the company and on the reports that must be prepared for showing the way those targets are achieved. The model proposed will be elaborated based on the identified activities performed in a distribution company and on its responsibility centers.
Cuvinte cheie: Management control, distribution, performance, reports, responsibility centers
Cod JEL: D30 M41 J50
Autor(i): Dumitru Madalina, Dumitrana Mihaela Adriana, Glavan Elena Mariana, Radu Gabriel
Rezumat: Generally, the concept of management control is associated to the production companies more than to the distribution ones. That is why, the research team considers that creating a management control model for the distribution companies should interest especially the practitioners. In this paper we will present the steps to be followed in the elaboration of a management control model based on the targets set by the company and on the reports that must be prepared for showing the way those targets are achieved. The model proposed will be elaborated based on the identified activities performed in a distribution company and on its responsibility centers.
Cuvinte cheie: Management control, distribution, performance, reports, responsibility centers
Cod JEL: D30 M41 J50
Text complet
Paginatie: 1172-1177
Titlul lucrarii: FINANCIAL IMPLICATIONS OF THE IAS/IFRS ADOPTION ON THE CIRCULATING ELEMENTS OF THE LIQUID ASSETS TYPE
Autor(i): Dumitru Mihaela
Rezumat: Within this article one presents some aspects regarding the affectation of the liquid assets both in leu and in currency by the International Standards of Financial Reporting. Regarding the liquid assets in currency we gave some precisions related to their presentation within the financial situations, and regarding the liquid assets in leu we made some appreciations regarding the synthesis document – the situations of the treasury flows.
Cuvinte cheie: cash-flow, transactions in currency, non-monetary elements, monetary elements, cash equivalent
Cod JEL: E42 E40 M41
Autor(i): Dumitru Mihaela
Rezumat: Within this article one presents some aspects regarding the affectation of the liquid assets both in leu and in currency by the International Standards of Financial Reporting. Regarding the liquid assets in currency we gave some precisions related to their presentation within the financial situations, and regarding the liquid assets in leu we made some appreciations regarding the synthesis document – the situations of the treasury flows.
Cuvinte cheie: cash-flow, transactions in currency, non-monetary elements, monetary elements, cash equivalent
Cod JEL: E42 E40 M41
Text complet
Paginatie: 1178-1182
Titlul lucrarii: APPRECIATIONS REGARDING THE FINANCIAL IMPLICATIONS OF THE IAS/IFRS ADOPTION ON THE ELEMENTS OF THE PROVISIONS TYPE
Autor(i): Dumitru Mihaela
Rezumat: The present paper contains appreciations regarding the contents and the effects of the IAS/IFRS adoption on the elements of the provisions type within the financial reporting carried out by the enterprises. Assimilated will be also the elements considered to have a contingent character: assets and liabilities (element of novelty for the Romanian accounting system).
Cuvinte cheie: contingent assets, contingent liabilities, provisions, restructuring, financial position
Cod JEL: G12 M41 F30
Autor(i): Dumitru Mihaela
Rezumat: The present paper contains appreciations regarding the contents and the effects of the IAS/IFRS adoption on the elements of the provisions type within the financial reporting carried out by the enterprises. Assimilated will be also the elements considered to have a contingent character: assets and liabilities (element of novelty for the Romanian accounting system).
Cuvinte cheie: contingent assets, contingent liabilities, provisions, restructuring, financial position
Cod JEL: G12 M41 F30
Text complet
Paginatie: 1183-1186
Titlul lucrarii: NEEDS OF ADAPTING THE COMMITMENTSТ ACCOUNTING SYSTEM OF PUBLIC INSTITUTIONS
Autor(i): Dragu Gabi
Rezumat: Throughout this work, the stages mentioned in Omfp (Order of the Ministry of Public Finance) 1792/2002 are presented. The attempt is to bring clarifications with respect to delicate aspects: delegating competencies, delegation incompatibility, specialty compartment, manner of processing the annexes to the financial situations, individual/global commitment, proper determination of the available resources before making the payments, calculation of the available resources in case of payments made in currency, the need of a budget for commitment credits.
Cuvinte cheie: Global commitment, Budget for commitment credits, Processing undertakings in the annexes to the financial situations, Green stamp fee
Cod JEL:
Autor(i): Dragu Gabi
Rezumat: Throughout this work, the stages mentioned in Omfp (Order of the Ministry of Public Finance) 1792/2002 are presented. The attempt is to bring clarifications with respect to delicate aspects: delegating competencies, delegation incompatibility, specialty compartment, manner of processing the annexes to the financial situations, individual/global commitment, proper determination of the available resources before making the payments, calculation of the available resources in case of payments made in currency, the need of a budget for commitment credits.
Cuvinte cheie: Global commitment, Budget for commitment credits, Processing undertakings in the annexes to the financial situations, Green stamp fee
Cod JEL:
Text complet
Paginatie: 1187-1192
Titlul lucrarii: THE IMPACT OF THE ENTITIEТS BANKRUPTCY UPON THE ACCOUNTANCY FOR THE OWN CAPITAL
Autor(i): Dragan Cristian, Brabete Valeriu, Mehedintiu Ionescu Florea
Rezumat: We consider that the approach of the mentioned theme presents an interests for all the theoreticians and practitioners in the economic and financial domain for the fact that the activities of the nature of the bankruptcy know an ascending trend and they lead to accounting treatments and to specific insurance measures. We have considered that it is useful to debate the problems concerning the delimitation and the short definition of the bankruptcy situations, with national and European juridical references and especially, the implications of the operations that that they generate upon the accounting information. For the realization of the accounting registrations we have used the dates which are registered in the two obligatory balance sheets, the initial one and respectively the final one, this last one is essential for solving the examined problem.
Cuvinte cheie: accounting information bankruptcy, own capitals, specific procedures
Cod JEL:
Autor(i): Dragan Cristian, Brabete Valeriu, Mehedintiu Ionescu Florea
Rezumat: We consider that the approach of the mentioned theme presents an interests for all the theoreticians and practitioners in the economic and financial domain for the fact that the activities of the nature of the bankruptcy know an ascending trend and they lead to accounting treatments and to specific insurance measures. We have considered that it is useful to debate the problems concerning the delimitation and the short definition of the bankruptcy situations, with national and European juridical references and especially, the implications of the operations that that they generate upon the accounting information. For the realization of the accounting registrations we have used the dates which are registered in the two obligatory balance sheets, the initial one and respectively the final one, this last one is essential for solving the examined problem.
Cuvinte cheie: accounting information bankruptcy, own capitals, specific procedures
Cod JEL:
Text complet
Paginatie: 1193-1199
Titlul lucrarii: TAX AND ACCOUNTING TREATMENT CONCERNING THE VAT RELATED TO COMPENSATIONS RECEIVED FOR DETERIORATED OR PARTIALLY DAMAGED GOODS
Autor(i): Ecobici Nicolae, Busan Gabriela
Rezumat: The companies (registered as VAT payers) that receive compensations from insurance companies are faced with the dilemma whether to collect or not the value-added tax related to these amounts. In other words, we can put the problem this way: Ñ‚ÐЬto collect or not to collect?\”. In the following pages we\’ll try to solve this problem, both from a tax and accounting point of view.
Cuvinte cheie: compensation, value-added tax, accounting treatment, tax treatment
Cod JEL: M41 M42 F30
Autor(i): Ecobici Nicolae, Busan Gabriela
Rezumat: The companies (registered as VAT payers) that receive compensations from insurance companies are faced with the dilemma whether to collect or not the value-added tax related to these amounts. In other words, we can put the problem this way: Ñ‚ÐЬto collect or not to collect?\”. In the following pages we\’ll try to solve this problem, both from a tax and accounting point of view.
Cuvinte cheie: compensation, value-added tax, accounting treatment, tax treatment
Cod JEL: M41 M42 F30
Text complet
Paginatie: 1200-1204
Titlul lucrarii: CONCEPTUAL DIFFCULTIES AND THE FEASIBILITY OF POLICIES
Autor(i): Feleaga Liliana, Feleaga Niculae, Vasile Cristina Mioara
Rezumat: Goodwill represents a financial indicator which serves as an evaluation tool for the quality of the companyТs production structures. The evaluation and the recognition of the Goodwill raises may controversies, as for example: Is the Goodwill an asset or not? Is it kept within the assets part or is it subtracted out of the company ownerТs equity? Is it depreciated or it is sufficient to be included in the provisions? Therefore, the stakes for choosing one solution, or the other, should not be neglected. It is necessary to analyse the factors that influence the managerial decisions, when choosing a way to record the Goodwill. In this analysis we may use the theory of the Contract Costs. In its own path to eliminate the manipulation options for the published information, the international referential has supported within the past years, numerous revises and modifications regarding the Goodwill accounting treatment. Goodwill in the context of the international accounting convergence processes.
Cuvinte cheie: Goodwill, accounting referentials, controversies, accounting convergence processes
Cod JEL: M41 F40
Autor(i): Feleaga Liliana, Feleaga Niculae, Vasile Cristina Mioara
Rezumat: Goodwill represents a financial indicator which serves as an evaluation tool for the quality of the companyТs production structures. The evaluation and the recognition of the Goodwill raises may controversies, as for example: Is the Goodwill an asset or not? Is it kept within the assets part or is it subtracted out of the company ownerТs equity? Is it depreciated or it is sufficient to be included in the provisions? Therefore, the stakes for choosing one solution, or the other, should not be neglected. It is necessary to analyse the factors that influence the managerial decisions, when choosing a way to record the Goodwill. In this analysis we may use the theory of the Contract Costs. In its own path to eliminate the manipulation options for the published information, the international referential has supported within the past years, numerous revises and modifications regarding the Goodwill accounting treatment. Goodwill in the context of the international accounting convergence processes.
Cuvinte cheie: Goodwill, accounting referentials, controversies, accounting convergence processes
Cod JEL: M41 F40
Text complet
Paginatie: 1205-1210
Titlul lucrarii: THE RECOGNITION OF THE DIFFERENCES IN THE EXCHANGE RATE GENERATED BY THE IMPORT-EXPORT OPERATIONS CARRIED OUT BY THE ECONOMIC ENTITIES FROM ROMANIA IN THE FINANCIAL STATEMENTS
Autor(i): Filip Crina Ioana, Nistor Cristina Silvia
Rezumat: Nowadays the participation of all states in the world economical circuit is an objective necessity. The complexity of global economy, the extremely strong incidence of technical progress, the diversification of the economic processes, the emphasizing of the interdependences between national economies, the extremely important advantages that can be obtained from international specialization (or the dangers to which those that prefer autarchy are exposed), are just a part of the causes and factors that have led to the generalization – at a planetary scale – of the international economical exchanges. In this field we include our study of analysis and presentation of foreign transactions, which have as a main characteristic the expressing in a foreign currency, can generate differences in the exchange rate between the time of the appearance of the external debt/liability and the time of recording or presentation in the financial statements of the unaccounted for until the end of the financial period.
Cuvinte cheie: import; export; accounting information; external price; risk (currency); financial statements; currency.
Cod JEL: F10 E40 D80
Autor(i): Filip Crina Ioana, Nistor Cristina Silvia
Rezumat: Nowadays the participation of all states in the world economical circuit is an objective necessity. The complexity of global economy, the extremely strong incidence of technical progress, the diversification of the economic processes, the emphasizing of the interdependences between national economies, the extremely important advantages that can be obtained from international specialization (or the dangers to which those that prefer autarchy are exposed), are just a part of the causes and factors that have led to the generalization – at a planetary scale – of the international economical exchanges. In this field we include our study of analysis and presentation of foreign transactions, which have as a main characteristic the expressing in a foreign currency, can generate differences in the exchange rate between the time of the appearance of the external debt/liability and the time of recording or presentation in the financial statements of the unaccounted for until the end of the financial period.
Cuvinte cheie: import; export; accounting information; external price; risk (currency); financial statements; currency.
Cod JEL: F10 E40 D80
Text complet
Paginatie: 1211-1215
Titlul lucrarii: QUALITY COSTS, AN IMPORTANT DIMENSION OF BUSINESS
Autor(i): Victoria Firescu
Rezumat: Nowadays, many company leaders erroneously perceive quality assurance as a rule imposed from outside and as an administrative act .Quality is regarded as a socially desirable objective, but its contributions to the profitability of the company are considered marginal. In order to cope with the strong competition present in a market companies are forced to continuously manufacture high-quality products at prices as low as possible to create the conditions necessary to obtain benefits. It is not sufficient just to manufacture high-quality products. The costs necessary to achieve these goals must be carefully monitored, so that the long-term effect of quality costs on the company should be the intended one.
Cuvinte cheie: quality costs, evaluation, monitoring
Cod JEL: M41 M42
Autor(i): Victoria Firescu
Rezumat: Nowadays, many company leaders erroneously perceive quality assurance as a rule imposed from outside and as an administrative act .Quality is regarded as a socially desirable objective, but its contributions to the profitability of the company are considered marginal. In order to cope with the strong competition present in a market companies are forced to continuously manufacture high-quality products at prices as low as possible to create the conditions necessary to obtain benefits. It is not sufficient just to manufacture high-quality products. The costs necessary to achieve these goals must be carefully monitored, so that the long-term effect of quality costs on the company should be the intended one.
Cuvinte cheie: quality costs, evaluation, monitoring
Cod JEL: M41 M42
Text complet
Paginatie: 1216-1221
Titlul lucrarii: THE MULTI-ANNUAL PLANNING, A CONNECTION BETWEEN THE STRATEGIC PLANNING AND THE OPERATIVE PLANNING
Autor(i): Victoria Firescu, Popescu Jenica
Rezumat: The operative success of a company results from the use of success potentials. If a company intends not only to react, but also to structure its evolution consciously, then the entire company has to be oriented to the success potentials. Thus the company plans strategically a vision of its superior objectives for the following years. In addition, the strategic planning includes the ways through which these objectives have to be attained.
Cuvinte cheie: budget, operative, planning, strategic planning
Cod JEL: O21 M41
Autor(i): Victoria Firescu, Popescu Jenica
Rezumat: The operative success of a company results from the use of success potentials. If a company intends not only to react, but also to structure its evolution consciously, then the entire company has to be oriented to the success potentials. Thus the company plans strategically a vision of its superior objectives for the following years. In addition, the strategic planning includes the ways through which these objectives have to be attained.
Cuvinte cheie: budget, operative, planning, strategic planning
Cod JEL: O21 M41
Text complet
Paginatie: 1222-1229
Titlul lucrarii: THE IMPLEMENTATION OF THE УSTANDARD COSTФ method in the furniture industry: a way of improving the managerial accounting
Autor(i): Garboveanu Emilia, Stan Elena, Andrei Ruxandra
Rezumat: The information regarding the production costs has a central role, determined by their implications on the actual status and on the future evolution of the company. The value of the information regarding the production cost justify its use on the decision taking process for the current activity, as well as for the companyТs strategy. The use and the superior exploit of the resources in order to increase the competitive capacity of the organisation impose the wide-scale use of the advanced cost management methods, which sustain the performance, the significance and accuracy. The efficiency of the selected method depends on the speed it provides the information to the board, in order to allow the fast-taking decision process. The standard-cost method guides the future activity of the company through acquiring long term standards, which will guarantee a efficient technological process and the implementation of a modern management.
Cuvinte cheie: method standard cost, cost of production, direct and indirect costs, decision
Cod JEL:
Autor(i): Garboveanu Emilia, Stan Elena, Andrei Ruxandra
Rezumat: The information regarding the production costs has a central role, determined by their implications on the actual status and on the future evolution of the company. The value of the information regarding the production cost justify its use on the decision taking process for the current activity, as well as for the companyТs strategy. The use and the superior exploit of the resources in order to increase the competitive capacity of the organisation impose the wide-scale use of the advanced cost management methods, which sustain the performance, the significance and accuracy. The efficiency of the selected method depends on the speed it provides the information to the board, in order to allow the fast-taking decision process. The standard-cost method guides the future activity of the company through acquiring long term standards, which will guarantee a efficient technological process and the implementation of a modern management.
Cuvinte cheie: method standard cost, cost of production, direct and indirect costs, decision
Cod JEL:
Text complet
Paginatie: 1230-1237
Titlul lucrarii: CONTRIBUTIONS OF THE ABC METHOD IN THE FIRM MANAGEMENT
Autor(i): Goagara Daniel, Ionescu Ion
Rezumat: The information about cost provided by the ABC method can be used for various purposes in the enterprise by the administration of the activities or ABM (Activity Based Management). The most interesting contribution of the ABC/ABM model is the horizontal dimension of the administration of the activities and, beyond that, the administration of prices. The model supplies a representation of the activities which allows an identification of the cause-effect relationships that connects the activities. The analysis of these relationships of causality allows an operational and strategic administration of the costs. The ABC accountant information provides the manager with the information he/she needs to administrate the activities and to practice the programs of leading and reducing the costs. In practice there can be multiple applications of the administration of the activities to the enterprises that develop an ABC system. In this article the most important of them were shown, which constitute contributions of the ABC method to the management of the firm.
Cuvinte cheie: ABM, administration through activities, portfolio of products, the map of the activities
Cod JEL: D20 M41 E20
Autor(i): Goagara Daniel, Ionescu Ion
Rezumat: The information about cost provided by the ABC method can be used for various purposes in the enterprise by the administration of the activities or ABM (Activity Based Management). The most interesting contribution of the ABC/ABM model is the horizontal dimension of the administration of the activities and, beyond that, the administration of prices. The model supplies a representation of the activities which allows an identification of the cause-effect relationships that connects the activities. The analysis of these relationships of causality allows an operational and strategic administration of the costs. The ABC accountant information provides the manager with the information he/she needs to administrate the activities and to practice the programs of leading and reducing the costs. In practice there can be multiple applications of the administration of the activities to the enterprises that develop an ABC system. In this article the most important of them were shown, which constitute contributions of the ABC method to the management of the firm.
Cuvinte cheie: ABM, administration through activities, portfolio of products, the map of the activities
Cod JEL: D20 M41 E20
Text complet
Paginatie: 1238-1243
Titlul lucrarii: GLOBALIZATION IMPACT ON THE DEVELOPMENT OF NEW DIRECTIONS AS RELATED TO ACCOUNTING
Autor(i): Gorgan Catalina, Gorgan Vasile, Diaconu Paul, Coman Nicoleta
Rezumat: This paper explores the idea of globalization in economy in general and its role in that process in order to develop new directions for the accounting concepts. Globalization is a reality in todayТs world. As globalization intensifies the need for complex financial information becomes obvious. Expanding capital markets require analysis of financial statement prepared under diverging accounting standards. Investors believe that the lack of common financial statement increases the risk of an investment and affects the free flow of world capital. A single set of accounting standards would bring great benefits to the investors and would reduce the cost of accessing capital markets around the world. The convergence of accounting standards would assure enhanced comparability, greater reporting transparency, more efficient capital markets.
Cuvinte cheie: globalization, convergence, fair value, international accounting
Cod JEL: F02 M41
Autor(i): Gorgan Catalina, Gorgan Vasile, Diaconu Paul, Coman Nicoleta
Rezumat: This paper explores the idea of globalization in economy in general and its role in that process in order to develop new directions for the accounting concepts. Globalization is a reality in todayТs world. As globalization intensifies the need for complex financial information becomes obvious. Expanding capital markets require analysis of financial statement prepared under diverging accounting standards. Investors believe that the lack of common financial statement increases the risk of an investment and affects the free flow of world capital. A single set of accounting standards would bring great benefits to the investors and would reduce the cost of accessing capital markets around the world. The convergence of accounting standards would assure enhanced comparability, greater reporting transparency, more efficient capital markets.
Cuvinte cheie: globalization, convergence, fair value, international accounting
Cod JEL: F02 M41
Text complet
Paginatie: 1244-1248
Titlul lucrarii: CONSIDERATIONS REGARDING IFRS 3 BUSINESS COMBINATION
Autor(i): Grosu Veronica, Horga Petrica
Rezumat: IFRS 3 describes and defines the accounting treatment for the Business Combination, so- called method Ñ‚ÐЬpurchase methodÑ‚ÐÐ that imposes the purchase price allocation to the assets and the liabilities identifiable by the society that makes the acquisitions object and the accounting of the operations that take place. Business combination means a fusion of distinct societies that are in one economic unity or derived from the fusion of one company with another one, either by obtaining the control over the net assets and over the administration of a company. This standard defines business as a whole system of tangible, intangible and financial assets involved in the development of an economic activity; if a company acquires a set of assets or even another entity, but it does not respect the definition of business, the transaction cannot be accounted as a Business Combination.
Cuvinte cheie: International Financial Reporting Standard 3(IFRS 3), business combination, purchase method, fair value
Cod JEL: F30 F02 M41
Autor(i): Grosu Veronica, Horga Petrica
Rezumat: IFRS 3 describes and defines the accounting treatment for the Business Combination, so- called method Ñ‚ÐЬpurchase methodÑ‚ÐÐ that imposes the purchase price allocation to the assets and the liabilities identifiable by the society that makes the acquisitions object and the accounting of the operations that take place. Business combination means a fusion of distinct societies that are in one economic unity or derived from the fusion of one company with another one, either by obtaining the control over the net assets and over the administration of a company. This standard defines business as a whole system of tangible, intangible and financial assets involved in the development of an economic activity; if a company acquires a set of assets or even another entity, but it does not respect the definition of business, the transaction cannot be accounted as a Business Combination.
Cuvinte cheie: International Financial Reporting Standard 3(IFRS 3), business combination, purchase method, fair value
Cod JEL: F30 F02 M41
Text complet
Paginatie: 1249-1252
Titlul lucrarii: COST CALCULATION CONSIDERED FROM BOTH THE POINT OF VIEW OF THE PROVISIONS OF ACCOUNTING REGULATIONS AND OF THE NEED FOR INFORMATION OF THE COMPANIES
Autor(i): Grosanu Adrian, Rachisan Paula Ramona
Rezumat: The idea of providing financial balance that would lead to long-term, sustainable development of the companies gathers more and more ground in economy. A state of financial balance means a company is capable of conducting its business effectively and in normal conditions. ДNormal conditionsФ mean the company conducts its activities according to its productive potential without employing any uncontrolled and unplanned for capital infusions. In our opinion ФeffectivenessФ means establishing a relationship with the external and internal sphere (internal conditions of practice) of the company through the products and services it offers, a relationship which could lead to the possibility of reproduction on an enlarged scale, while shareholders, staff, managers and all the other factors participating to the production process can be adequately remunerated. We claim there is a close relationship between financial balance, costs and results which managed properly will provide investors the benefits they planned for.
Autor(i): Grosanu Adrian, Rachisan Paula Ramona
Rezumat: The idea of providing financial balance that would lead to long-term, sustainable development of the companies gathers more and more ground in economy. A state of financial balance means a company is capable of conducting its business effectively and in normal conditions. ДNormal conditionsФ mean the company conducts its activities according to its productive potential without employing any uncontrolled and unplanned for capital infusions. In our opinion ФeffectivenessФ means establishing a relationship with the external and internal sphere (internal conditions of practice) of the company through the products and services it offers, a relationship which could lead to the possibility of reproduction on an enlarged scale, while shareholders, staff, managers and all the other factors participating to the production process can be adequately remunerated. We claim there is a close relationship between financial balance, costs and results which managed properly will provide investors the benefits they planned for.
Cuvinte cheie: Keywords: company, costs, cost calculation, effectiveness
Cod JEL: D23 D61 M41
Text complet
Paginatie: 1253-1259
Titlul lucrarii: OPINIONS REGARDING THE VALUE ADJUSTMENT AND THE PROVISIONS RULES IN ROMANIA AT THE CREDIT INSTITUTIONS CONFORMING TO THE EUROPEAN DIRECTIVES
Autor(i): Hategan Camelia, Imbrescu Carmen, Mili Constantin
Rezumat: Starting with 01.01.2006 the working entities of Romania apply accountant regulations according with the European directives, starting with the 4th Directive of the CEE and itТs afterwards changes. The authority for accountant regulation had emitted more normative papers applicable to different entities, depending on their activity field and specific economic agents, credit institutions, insurance societies. Adopting the information within the European directives is not consequent in all the normative papers released. In this paper we will refer at the other perspective of the value adjustments and at the provisions within the credit institutions.
Cuvinte cheie: Keywords: credit institutions, value adjustment, provisions, depreciation
Cod JEL: E31 M41 G21
Autor(i): Hategan Camelia, Imbrescu Carmen, Mili Constantin
Rezumat: Starting with 01.01.2006 the working entities of Romania apply accountant regulations according with the European directives, starting with the 4th Directive of the CEE and itТs afterwards changes. The authority for accountant regulation had emitted more normative papers applicable to different entities, depending on their activity field and specific economic agents, credit institutions, insurance societies. Adopting the information within the European directives is not consequent in all the normative papers released. In this paper we will refer at the other perspective of the value adjustments and at the provisions within the credit institutions.
Cuvinte cheie: Keywords: credit institutions, value adjustment, provisions, depreciation
Cod JEL: E31 M41 G21
Text complet
Paginatie: 1260-1263
Titlul lucrarii: IFRS 4 AND INSURANCE MARKETS
Autor(i): Hlaciuc Elena, Mihalciuc Camelia
Rezumat: Insurance system are actively involved in a vast array of “social” insurance services, prominently through provision of public pensions, health insurance schemes and medical services, regulation of health insurance markets, unemployment and work injuries insurance. Recent economic literature emphasizes a tension between Insurance system, and competitiveness and growth. In particular, a trade-off is envisaged between redistribution and growth, as the high fiscal burden needed to finance the Insurance system has perverse incentive effects on wages, lab our supply, capital accumulation, and the adoption of new technologies. In this paper we focus on the Insurance system as a “public insurer”, rather than as a mechanism for redistribution of income. The authorized insurance companies have the obligation to have at all times an available solvency rate, in concordance with the activity developed, at least equal to the minimum solvency rate calculated in conformity with the valid regulations.
Cuvinte cheie: Keywords: Insurance system, IFRS 4, insurance contract, insurance market.
Cod JEL: G22 G23
Autor(i): Hlaciuc Elena, Mihalciuc Camelia
Rezumat: Insurance system are actively involved in a vast array of “social” insurance services, prominently through provision of public pensions, health insurance schemes and medical services, regulation of health insurance markets, unemployment and work injuries insurance. Recent economic literature emphasizes a tension between Insurance system, and competitiveness and growth. In particular, a trade-off is envisaged between redistribution and growth, as the high fiscal burden needed to finance the Insurance system has perverse incentive effects on wages, lab our supply, capital accumulation, and the adoption of new technologies. In this paper we focus on the Insurance system as a “public insurer”, rather than as a mechanism for redistribution of income. The authorized insurance companies have the obligation to have at all times an available solvency rate, in concordance with the activity developed, at least equal to the minimum solvency rate calculated in conformity with the valid regulations.
Cuvinte cheie: Keywords: Insurance system, IFRS 4, insurance contract, insurance market.
Cod JEL: G22 G23
Text complet
Paginatie: 1264-1267
Titlul lucrarii: ASPECTS REGARDING THE HOMOGENEITY OF ACCOUNTS AT GROUP COMPANIES
Autor(i): Huminiuc Cristian
Rezumat: The accounts consolidation has as an objective to illustrate a fair image of the equity, of the financial situation and of the result of an assembly of companies all together forming a group. The companies entering within the frame of consolidation can be very different in their juridical form, activity sector, or country in which they act. All these elements can have a direct or indirect influence upon the regulations about evaluation and presentation used to settle the annual accounts. In order to satisfy the fair image principle when the consolidation is realized it is compulsory to achieve the homogeneity of the annual accounts of the consolidated companies, this means to harmonize the evaluation and presentation methods, before starting the accounts consolidation.
Cuvinte cheie: consolidated accounts, group, consolidation, homogeneity
Cod JEL: M41 E60
Autor(i): Huminiuc Cristian
Rezumat: The accounts consolidation has as an objective to illustrate a fair image of the equity, of the financial situation and of the result of an assembly of companies all together forming a group. The companies entering within the frame of consolidation can be very different in their juridical form, activity sector, or country in which they act. All these elements can have a direct or indirect influence upon the regulations about evaluation and presentation used to settle the annual accounts. In order to satisfy the fair image principle when the consolidation is realized it is compulsory to achieve the homogeneity of the annual accounts of the consolidated companies, this means to harmonize the evaluation and presentation methods, before starting the accounts consolidation.
Cuvinte cheie: consolidated accounts, group, consolidation, homogeneity
Cod JEL: M41 E60
Text complet
Paginatie: 1268-1271
Titlul lucrarii: ORIENTATION AND PLANNING THE FINANCIAL AUDIT
Autor(i): Huminiuc Cristian
Rezumat: The period of orientation and planning of the audit mission supposes from the part of the auditor the proceeding of the following important works: the general knowledge of the enterprise, the identification of the significant fields and systems and planning the mission.
The general knowledge of the enterprise has as main objective the obtaining from the part of the auditor of a sufficient understanding of its specific particularities and of their influences upon planning and mission organizing
The identification of the significant fields and systems aims a better orientation and planning of the efforts in order to avoid useless things and to finally fundament the decision regarding the stated opinion.
The planning of the mission means to make a synthesis of the obtained information and to give an orientation and a coordination to the entire audit activity.
Cuvinte cheie: auditor, fraud, error, significant.
Cod JEL: D73 M42 M41
Autor(i): Huminiuc Cristian
Rezumat: The period of orientation and planning of the audit mission supposes from the part of the auditor the proceeding of the following important works: the general knowledge of the enterprise, the identification of the significant fields and systems and planning the mission.
The general knowledge of the enterprise has as main objective the obtaining from the part of the auditor of a sufficient understanding of its specific particularities and of their influences upon planning and mission organizing
The identification of the significant fields and systems aims a better orientation and planning of the efforts in order to avoid useless things and to finally fundament the decision regarding the stated opinion.
The planning of the mission means to make a synthesis of the obtained information and to give an orientation and a coordination to the entire audit activity.
Cuvinte cheie: auditor, fraud, error, significant.
Cod JEL: D73 M42 M41
Text complet
Paginatie: 1272-1275
Titlul lucrarii: CONSEQUENCES OF THE INFLATION OVER THE CONTINUITY OF ENTERPRISES ACTIVITY
Autor(i): Inghian Diana
Rezumat: In conditions of inflation, the historical costs accounting, related to a basic principle of accountancy, that is the caution principle, lead to the enterprises decapitalization, with serious consequences over the continuity of the activity in conditions of economic efficiency. Therefore, finding new alternatives which could lead to the removal of this deficiency in the traditional accounting model, in conditions of inflation, is an imperative. In this context, the major objective of the firms that carry on their activity in an inflationist environment is to maintain their capital, as well as to secure a profit which can ensure the maintenance of the capital, the continuity of the activity depending mainly of its fulfillment.
Cuvinte cheie: inflation, financial capital, physical capital
Cod JEL:
Autor(i): Inghian Diana
Rezumat: In conditions of inflation, the historical costs accounting, related to a basic principle of accountancy, that is the caution principle, lead to the enterprises decapitalization, with serious consequences over the continuity of the activity in conditions of economic efficiency. Therefore, finding new alternatives which could lead to the removal of this deficiency in the traditional accounting model, in conditions of inflation, is an imperative. In this context, the major objective of the firms that carry on their activity in an inflationist environment is to maintain their capital, as well as to secure a profit which can ensure the maintenance of the capital, the continuity of the activity depending mainly of its fulfillment.
Cuvinte cheie: inflation, financial capital, physical capital
Cod JEL:
Text complet
Paginatie: 1276-1282
Titlul lucrarii: FROM THE CONTINUOUS ACIVITY PRINCIPLE TO THE DISCONTINUTY PRINCIPLE
Autor(i): Imbrescu Carmen Mihaela, Haâ–egan Camelia, Bobiâ–an Nicolae
Rezumat: The principle of continuous activity starts from the presumption that a company will continue its activity into the previewed future. Therefore, we presume that the company does not intend and does not need to terminate or to reduce in a significant way its activity; if there is such an intention or a need the financial situations might be imposed based on a different valuation base and in this situation the used based must be indicated.
If the continuity is insured the traditional accounting principles will continue to be applied, and the accounting works and the financial situations will be elaborated in a usual way, as during the previous periods.
If the company enters a discontinuity state the continuity principle is to be infringed because complying with it should take to distorted financial situations.
Cuvinte cheie: principle of continuos activity,discontinuity activity, intangible assets and tangible assets
Cod JEL: E60 R12 G12
Autor(i): Imbrescu Carmen Mihaela, Haâ–egan Camelia, Bobiâ–an Nicolae
Rezumat: The principle of continuous activity starts from the presumption that a company will continue its activity into the previewed future. Therefore, we presume that the company does not intend and does not need to terminate or to reduce in a significant way its activity; if there is such an intention or a need the financial situations might be imposed based on a different valuation base and in this situation the used based must be indicated.
If the continuity is insured the traditional accounting principles will continue to be applied, and the accounting works and the financial situations will be elaborated in a usual way, as during the previous periods.
If the company enters a discontinuity state the continuity principle is to be infringed because complying with it should take to distorted financial situations.
Cuvinte cheie: principle of continuos activity,discontinuity activity, intangible assets and tangible assets
Cod JEL: E60 R12 G12
Text complet
Paginatie: 1283-1286
Titlul lucrarii: ABC METHOD – EVOLUTION OR REVOLUTION IN THE CALCULATION OF COSTS
Autor(i): Ionescu Ion, Goagara Daniel
Rezumat: The accounting systems of traditional administration have lost their credibility, in the sense in which the accounting information that they produce is lesser and lesser adequate to the action and the control of the modern enterprise, based on the diversity of the production and the multiplication of the combinations of goods and services for the satisfaction of the demand of a more and more differentiated custom. As a reaction to the limits of the classical methods of administration accounting, in the 1980s there was developed and implemented the ABC method, which is based on two complementary orientations: one concerning the calculation and the analysis of the costs and another that aims for it as an instrument of measuring the performances of the enterprise. It represents more of an evolution than a real revolution in the field of the administration accounting.
Cuvinte cheie: ABC method, cost inductor, pertinent cost, activity
Cod JEL: D61 M41
Autor(i): Ionescu Ion, Goagara Daniel
Rezumat: The accounting systems of traditional administration have lost their credibility, in the sense in which the accounting information that they produce is lesser and lesser adequate to the action and the control of the modern enterprise, based on the diversity of the production and the multiplication of the combinations of goods and services for the satisfaction of the demand of a more and more differentiated custom. As a reaction to the limits of the classical methods of administration accounting, in the 1980s there was developed and implemented the ABC method, which is based on two complementary orientations: one concerning the calculation and the analysis of the costs and another that aims for it as an instrument of measuring the performances of the enterprise. It represents more of an evolution than a real revolution in the field of the administration accounting.
Cuvinte cheie: ABC method, cost inductor, pertinent cost, activity
Cod JEL: D61 M41
Text complet
Paginatie: 1287-1292
Titlul lucrarii: COMPARATIVE STUDY ROMANIA-ITALY CONCERNING THE IMPLEMENTATION OF IAS/IFRS
Autor(i): Mates Dorel, Grosu Veronica
Rezumat: Since 1 January 2005 European listed companies have to start using new International Accounting Standards (IAS /IFRS). It is an important chance for studying the relationship between accounting informations and financial markets. Since quality, transparency and comparability of financial informations reported by companies affect the informational and a locative efficiency of capital market, European Union has carried out a global accounting harmonization process that has been achieved by setting common accounting standards (IAS/IFRS). The basic idea of this harmonization process is to improve the relevant characteristics of informations made available by the firms. Although we think this accounting harmonization process is important and it can be the right way to improve informational efficiency of financial markets, we think it is necessary to further investigate some crucial topics.
Cuvinte cheie: international accounting standards, financial statements, earning quality, fair value.
Cod JEL: M41 D46 F36
Autor(i): Mates Dorel, Grosu Veronica
Rezumat: Since 1 January 2005 European listed companies have to start using new International Accounting Standards (IAS /IFRS). It is an important chance for studying the relationship between accounting informations and financial markets. Since quality, transparency and comparability of financial informations reported by companies affect the informational and a locative efficiency of capital market, European Union has carried out a global accounting harmonization process that has been achieved by setting common accounting standards (IAS/IFRS). The basic idea of this harmonization process is to improve the relevant characteristics of informations made available by the firms. Although we think this accounting harmonization process is important and it can be the right way to improve informational efficiency of financial markets, we think it is necessary to further investigate some crucial topics.
Cuvinte cheie: international accounting standards, financial statements, earning quality, fair value.
Cod JEL: M41 D46 F36
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Paginatie: 1293-1297
Titlul lucrarii: STUDY REGARDING THE QUALITY OF THE TRUE AND FAIR VIEW SUPPLIED BY THE FINANCIAL STATEMENTS FROM FINANCIAL AUDITORТS POINT OF VIEW
Autor(i): Matis Dumitru, Bota Avram Florin
Rezumat: The concept of Уtrue and fair viewФ is a very subjective one , which didnТt find yet the definition general accepted and in this way we canТt say that there are relevant instruments for measuring the level of the fidelity reflected in the financial statements. The financial audit plays an important role for delimitating the true and fair view supplied by the financial statements and despite the fact that the financial auditors are consciences that there isnТt a mathematical formula or other kind of formula through which could be possible to measure the level of the fidelity and the true and fair view of the financial statement, they consider that they have the possibility to identify the situations in which the financial statements didnТt present the reality true and fair, using the professional though to determine the level of the financial statements to give a true and fair view We have made an empirical survey which permits us to analyze the quality of the true and fair view supplied by the financial statements from the point of view of the financial auditor, without having the pretentious of using all the significant aspects.
Cuvinte cheie: true and fair view, financial audit, survey, financial auditor, financial statements
Cod JEL: M42 G20 F30
Autor(i): Matis Dumitru, Bota Avram Florin
Rezumat: The concept of Уtrue and fair viewФ is a very subjective one , which didnТt find yet the definition general accepted and in this way we canТt say that there are relevant instruments for measuring the level of the fidelity reflected in the financial statements. The financial audit plays an important role for delimitating the true and fair view supplied by the financial statements and despite the fact that the financial auditors are consciences that there isnТt a mathematical formula or other kind of formula through which could be possible to measure the level of the fidelity and the true and fair view of the financial statement, they consider that they have the possibility to identify the situations in which the financial statements didnТt present the reality true and fair, using the professional though to determine the level of the financial statements to give a true and fair view We have made an empirical survey which permits us to analyze the quality of the true and fair view supplied by the financial statements from the point of view of the financial auditor, without having the pretentious of using all the significant aspects.
Cuvinte cheie: true and fair view, financial audit, survey, financial auditor, financial statements
Cod JEL: M42 G20 F30
Text complet
Paginatie: 1298-1309
Titlul lucrarii: EVOLUTIONS ON THE ROMANIAN CAPITAL MARKET, FROM THE VIEW OF THE ACCESSION TO THE EUROPEAN UNION
Autor(i): Megan Ovidiu, Caciuc Leonora, Farcane Nicoleta
Rezumat: In the last few years financial experts demonstrated the very close relationship between the evolution of the capital market and the economic growth level in different countries.
In the present context of RomaniaТs EU accession, we expect a continuous trend of economic growth as a consequence of EU funds absorption for rehabilitating the economic and business infrastructure.
The aim of our study is to examine the main events on the Romanian capital market and to present an accurate picture of its evolution before and after the EU accession, in order to prove the strong relationship between economic growth and capital market evolution.
Cuvinte cheie: Keywords: capital market, EU accession, IFRS
Cod JEL: F30 G15
Autor(i): Megan Ovidiu, Caciuc Leonora, Farcane Nicoleta
Rezumat: In the last few years financial experts demonstrated the very close relationship between the evolution of the capital market and the economic growth level in different countries.
In the present context of RomaniaТs EU accession, we expect a continuous trend of economic growth as a consequence of EU funds absorption for rehabilitating the economic and business infrastructure.
The aim of our study is to examine the main events on the Romanian capital market and to present an accurate picture of its evolution before and after the EU accession, in order to prove the strong relationship between economic growth and capital market evolution.
Cuvinte cheie: Keywords: capital market, EU accession, IFRS
Cod JEL: F30 G15
Text complet
Paginatie: 1310-1314
Titlul lucrarii: THE CHARACTERISTICS OF THE FINANCIAL INSTRUMENTS
Autor(i): Mihalciuc Camelia, Hlaciuc Elena
Rezumat: Since 2005 the societies quoted have started to apply the international financial reporting standards IAS/IFRS for the drawing up and the publishing of the balance sheet. The objective of the IFRS, except for the fact that they aim at the harmonization of the ways of drawing up the financial statements, is that of drawing near the patrimony value close to its current value. Applying the standards IAS 32 and IAS 39, which introduce, in particular a new classification of the financial instruments has new significations within the accounting administration of the security operations made by the use of the derived financial instruments. Particularly, the IAS 39 focuses on the assessment of the financial instruments specifying the application and utility area of the just value, as well as of the evaluation criterion.
Cuvinte cheie: financial instruments, jute value, IAS 32, IAS 39, IFRS, financial risk
Cod JEL: G10 F30
Autor(i): Mihalciuc Camelia, Hlaciuc Elena
Rezumat: Since 2005 the societies quoted have started to apply the international financial reporting standards IAS/IFRS for the drawing up and the publishing of the balance sheet. The objective of the IFRS, except for the fact that they aim at the harmonization of the ways of drawing up the financial statements, is that of drawing near the patrimony value close to its current value. Applying the standards IAS 32 and IAS 39, which introduce, in particular a new classification of the financial instruments has new significations within the accounting administration of the security operations made by the use of the derived financial instruments. Particularly, the IAS 39 focuses on the assessment of the financial instruments specifying the application and utility area of the just value, as well as of the evaluation criterion.
Cuvinte cheie: financial instruments, jute value, IAS 32, IAS 39, IFRS, financial risk
Cod JEL: G10 F30
Text complet
Paginatie: 1315-1318
Titlul lucrarii: PARTICULARITIES OF THE ACCOUNTANCY FOR THE OWN CAPITALS CONCERNING THE DISSOLUTION AND THE LIQUIDATION
Autor(i): Mihai Magdalena, Criveanu Maria
Rezumat: The presented theme is approached from the perspective of the accentuated extension of the operations concerning the dissolution and liquidation activities, which care allow some accounting and fiscal treatments and some specific insurance measures. We have considered that it is useful to debate the following significant problems: the competences to adopt the decisions concerning the operations of this nature; their realization flow; the managerial implications; the specificity for the inventory and for the evaluation of the tangible and intangible elements. A special attention has also been given to the presentation of the accountancy methodology for the economic and financial operations that the dissolution and the liquidation generate, by realizing the accounting registrations under the form of a case study.
Cuvinte cheie: accounting information, own capitals, dissolution liquidation
Cod JEL: M41 G10
Autor(i): Mihai Magdalena, Criveanu Maria
Rezumat: The presented theme is approached from the perspective of the accentuated extension of the operations concerning the dissolution and liquidation activities, which care allow some accounting and fiscal treatments and some specific insurance measures. We have considered that it is useful to debate the following significant problems: the competences to adopt the decisions concerning the operations of this nature; their realization flow; the managerial implications; the specificity for the inventory and for the evaluation of the tangible and intangible elements. A special attention has also been given to the presentation of the accountancy methodology for the economic and financial operations that the dissolution and the liquidation generate, by realizing the accounting registrations under the form of a case study.
Cuvinte cheie: accounting information, own capitals, dissolution liquidation
Cod JEL: M41 G10
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Paginatie: 1319-1324
Titlul lucrarii: L’ANALYSE DE L’INFLUENCE DE LA MARGE COMMERCIALE SUR L’EQUILIBRE ECONOMIQUE-FINANCIER DE L’ENTREPRISE EN COMMERCE
Autor(i): Muntean Mircea
Rezumat: Profit margin is a performance indicator of a commercial company that represents the main source for covering the circulation expenses, being in the same time a weight balance in the intermediate administration balance-sheet of commercial companies.
This indicator shows the earning obtained as margin from goods selling, that has a balance in the operating activity of a commercial company. The analysis of gross marginТs influence to the economic-financial equilibrium of commercial company is done through the “direct-costing” method.
Cuvinte cheie: Margin, profit margin, intermediate administration balance sheet
Cod JEL: G10 F30
Autor(i): Muntean Mircea
Rezumat: Profit margin is a performance indicator of a commercial company that represents the main source for covering the circulation expenses, being in the same time a weight balance in the intermediate administration balance-sheet of commercial companies.
This indicator shows the earning obtained as margin from goods selling, that has a balance in the operating activity of a commercial company. The analysis of gross marginТs influence to the economic-financial equilibrium of commercial company is done through the “direct-costing” method.
Cuvinte cheie: Margin, profit margin, intermediate administration balance sheet
Cod JEL: G10 F30
Text complet
Paginatie: 1325-1329
Titlul lucrarii: ORGANISATION DES AUDIT COMMITTEES IN DEUTSCHEN UNTERNEHMEN
Autor(i): Muresan Mariana, Fâ„–lÐŽp Melinda Timea, CÑŽrstea Andreea
Rezumat: Corporate Governance ensures that long-term strategic objectives and plans are established and that the proper management structure (organization, systems, and people) is in place to achieve those objectives, while at the same time making sure that the structure functions to maintain the corporationТs integrity, reputation, and responsibility to its various constituencies. Audit committees have a big job to do in an organization, tough when the members have other responsibilities and the audit committee role is a part-time job with huge accountability.
Cuvinte cheie: Audit Committee, Organisation, Corporate Governanc, Audit Committee Charter
Cod JEL: M42 F30
Autor(i): Muresan Mariana, Fâ„–lÐŽp Melinda Timea, CÑŽrstea Andreea
Rezumat: Corporate Governance ensures that long-term strategic objectives and plans are established and that the proper management structure (organization, systems, and people) is in place to achieve those objectives, while at the same time making sure that the structure functions to maintain the corporationТs integrity, reputation, and responsibility to its various constituencies. Audit committees have a big job to do in an organization, tough when the members have other responsibilities and the audit committee role is a part-time job with huge accountability.
Cuvinte cheie: Audit Committee, Organisation, Corporate Governanc, Audit Committee Charter
Cod JEL: M42 F30
Text complet
Paginatie: 1330-1335
Titlul lucrarii: THE IMPROVEMENT PROCESS OF THE ROMANIAN EDUCATIONAL ACCOUNTING SYSTEM TOWARD A GLOBAL ECONOMIC ENVIRONMENT
Autor(i): Mutiu Aexandra Ileana, Tiron Tudor Adriana, Ienciu Alin Ionel
Rezumat: Through this paper we intend to disclose our actual research project focused on evaluation of the actual stage of Romanian academic accounting education in order to support the national university reform which has began in 2005. The research is meeting the international trends oriented to improve the academic process of accounting graduates. In this way, by determine a correlation degree between international trends: globalization, regionalization and the evolution of Romanian accounting system and by evaluation of the actual stage of Romanian accounting academic system from the point of view of actors involved (graduates, teachers and employers) we intend to determine the connection between the appliance of public requirements with the actual level of graduatesТ professional knowledge. Then we will offer constructive solutions, empiric validated, which will help the accounting graduates in their way to accounting profession. The research is interdisciplinary and its originality is give by the pioneering work performed at national level by the research team who is developing such a theoretical and practically complex approach.
Cuvinte cheie: accounting education, professional development, academic education, accounting profession
Cod JEL: M41 I10 O15
Autor(i): Mutiu Aexandra Ileana, Tiron Tudor Adriana, Ienciu Alin Ionel
Rezumat: Through this paper we intend to disclose our actual research project focused on evaluation of the actual stage of Romanian academic accounting education in order to support the national university reform which has began in 2005. The research is meeting the international trends oriented to improve the academic process of accounting graduates. In this way, by determine a correlation degree between international trends: globalization, regionalization and the evolution of Romanian accounting system and by evaluation of the actual stage of Romanian accounting academic system from the point of view of actors involved (graduates, teachers and employers) we intend to determine the connection between the appliance of public requirements with the actual level of graduatesТ professional knowledge. Then we will offer constructive solutions, empiric validated, which will help the accounting graduates in their way to accounting profession. The research is interdisciplinary and its originality is give by the pioneering work performed at national level by the research team who is developing such a theoretical and practically complex approach.
Cuvinte cheie: accounting education, professional development, academic education, accounting profession
Cod JEL: M41 I10 O15
Text complet
Paginatie: 1336-1340
Titlul lucrarii: ROMANIAN ACCOUNTING REFORM BETWEEN ILLUSIONS, DISILLUSIONS, TRENDS AND REALITIES
Autor(i): Neag Ramona
Rezumat: The Romanian accounting reform is a process which has a starting date. This is a true which cannot raise debates. But, can we say the same thing about the finish line of this process? The evolution of the Romanian accounting regulation is full of ingeries from the beginning to present. The advisers used in the process were very different from time to time. Each of them left a strong mark on the accounting norms and regulations. In Europe and in the world the period from 2000 to present had many interesting events. IASB got an important influence in Europe. His goals are realized step by step, with lot of patience. IASB – FASB agreements and work gives confidence about the future shape of accounting regulation worldwide. In this context, the trends and realities of the Romanian accounting reform are analyzed. We try to understand why we had such a strange evolution regarding the accounting reform and why so many questions are without answer. And one of the most important questions is: where was and where is the accounting profession in this process? We try to present some personal ideas regarding the future evolution of accounting reform in Romania taking into account the most important events in Europe and worldwide.
Cuvinte cheie: reform, convergence, IFRS, national accounting norms, trends, evolutions
Cod JEL: M41 F30
Autor(i): Neag Ramona
Rezumat: The Romanian accounting reform is a process which has a starting date. This is a true which cannot raise debates. But, can we say the same thing about the finish line of this process? The evolution of the Romanian accounting regulation is full of ingeries from the beginning to present. The advisers used in the process were very different from time to time. Each of them left a strong mark on the accounting norms and regulations. In Europe and in the world the period from 2000 to present had many interesting events. IASB got an important influence in Europe. His goals are realized step by step, with lot of patience. IASB – FASB agreements and work gives confidence about the future shape of accounting regulation worldwide. In this context, the trends and realities of the Romanian accounting reform are analyzed. We try to understand why we had such a strange evolution regarding the accounting reform and why so many questions are without answer. And one of the most important questions is: where was and where is the accounting profession in this process? We try to present some personal ideas regarding the future evolution of accounting reform in Romania taking into account the most important events in Europe and worldwide.
Cuvinte cheie: reform, convergence, IFRS, national accounting norms, trends, evolutions
Cod JEL: M41 F30
Text complet
Paginatie: 1341-1345
Titlul lucrarii: ISSUES REGARDING VALUATION IN ACCOUNTING. FROM HISTORICAL COST TOWARDS FAIR VALUE
Autor(i): Nichita Elena Mirela
Rezumat: A primary goal of financial reporting is aiding investors in making economic decisions. A primary economic decision investors make is assessing the value of firms in which they are invested or consider investing.
The role of accounting numbers in valuation has been of fundamental interest to analysts, investors and researchers alike. Much of the empirical research in accounting based valuation has revolved around analyzing historical and forecasted accounting numbers.
In my paper I will present few accounting model used in evaluation and the implications of choosing one of those models: historical cost model, fair value model.
Cuvinte cheie: Keywords: Accounting models, conservatism, earnings, valuation
Cod JEL: M41 G10
Autor(i): Nichita Elena Mirela
Rezumat: A primary goal of financial reporting is aiding investors in making economic decisions. A primary economic decision investors make is assessing the value of firms in which they are invested or consider investing.
The role of accounting numbers in valuation has been of fundamental interest to analysts, investors and researchers alike. Much of the empirical research in accounting based valuation has revolved around analyzing historical and forecasted accounting numbers.
In my paper I will present few accounting model used in evaluation and the implications of choosing one of those models: historical cost model, fair value model.
Cuvinte cheie: Keywords: Accounting models, conservatism, earnings, valuation
Cod JEL: M41 G10
Text complet
Paginatie: 1346-1350
Titlul lucrarii: ETHICS IN ACCOUNTING
Autor(i): Nicolaescu Cristina, Pantea Mioara Florina
Rezumat: Ethics is an important element of social life, which influences the relationships between peoples. The professional accountants are not just members of a specialized organization; they are members of a society. It means that their behavior influences not just the business environment, but the entire society from they belongs. IFAC has developed a Code of Ethics, which establishes ethical requirements for the professional accountants from all over the world.
Cuvinte cheie: ethics, code of ethics, professional accountants
Cod JEL: M41 F30
Autor(i): Nicolaescu Cristina, Pantea Mioara Florina
Rezumat: Ethics is an important element of social life, which influences the relationships between peoples. The professional accountants are not just members of a specialized organization; they are members of a society. It means that their behavior influences not just the business environment, but the entire society from they belongs. IFAC has developed a Code of Ethics, which establishes ethical requirements for the professional accountants from all over the world.
Cuvinte cheie: ethics, code of ethics, professional accountants
Cod JEL: M41 F30
Text complet
Paginatie: 1351-1353
Titlul lucrarii: MONISM OR DUALISM IN ACCOUNTING?
Autor(i): Nicolaescu Cristina, Pantea Mioara Florina
Rezumat: We are trying to answer in this paper at the question: Monism or dualism in accounting? thru analyze of the dimensions and characteristics of the two systems, and also, thru, which the advantage of each system individually offer to different type of users. Also, we simultaneously analyze the both levels at the dualist concept, the managerial accounting and the financial accounting. The meaning of these analyze is to identify the possibility and the opportunity to process thru just one circuit the information offered by the two accountings, therefore to pass to a monist system of organizational accounting.
Cuvinte cheie: monism, accounting dualism, globalization
Cod JEL: F02 G10 M41
Autor(i): Nicolaescu Cristina, Pantea Mioara Florina
Rezumat: We are trying to answer in this paper at the question: Monism or dualism in accounting? thru analyze of the dimensions and characteristics of the two systems, and also, thru, which the advantage of each system individually offer to different type of users. Also, we simultaneously analyze the both levels at the dualist concept, the managerial accounting and the financial accounting. The meaning of these analyze is to identify the possibility and the opportunity to process thru just one circuit the information offered by the two accountings, therefore to pass to a monist system of organizational accounting.
Cuvinte cheie: monism, accounting dualism, globalization
Cod JEL: F02 G10 M41
Text complet
Paginatie: 1354-1357
Titlul lucrarii: THE STIMULATION OF SMALL AND MEDIUM-SIZED ENTERPRISES – BETWEEN THEORY AND PRACTICE
Autor(i): Nistor Cristina Silvia, Filip Crina Ioana, Sucala Lucia
Rezumat: SMEs are outnumbering other types of firms in the Romanian economy. For this reason, the importance given to this type of enterprises must increase. One possible way of achieving this goal is stimulating their activity using means for raising the financial and legal support.
Throughout this paper we intend to identify and propose specific procedures for achieving the above mentioned objective, out of which we mention: evaluating the economic impact of the existing regulations concerning the SMEs; simplifying the procedures for obtaining the authorizations and special licenses needed for starting up the business and the ones which are issued after the firm is registered; simplifying the declaration and registration procedures for SMEs; improving the legal environment for SMEs by removing the administrative barriers. The object of our study is providing assistance for SMEs in identifying new ways of increasing and developing their business, and, last but not least, the accounting harmonization with international regulations.
Cuvinte cheie: small and medium-sized enterprises, structural funds, stimulating methods, accounting implication
Cod JEL: M41 D21
Autor(i): Nistor Cristina Silvia, Filip Crina Ioana, Sucala Lucia
Rezumat: SMEs are outnumbering other types of firms in the Romanian economy. For this reason, the importance given to this type of enterprises must increase. One possible way of achieving this goal is stimulating their activity using means for raising the financial and legal support.
Throughout this paper we intend to identify and propose specific procedures for achieving the above mentioned objective, out of which we mention: evaluating the economic impact of the existing regulations concerning the SMEs; simplifying the procedures for obtaining the authorizations and special licenses needed for starting up the business and the ones which are issued after the firm is registered; simplifying the declaration and registration procedures for SMEs; improving the legal environment for SMEs by removing the administrative barriers. The object of our study is providing assistance for SMEs in identifying new ways of increasing and developing their business, and, last but not least, the accounting harmonization with international regulations.
Cuvinte cheie: small and medium-sized enterprises, structural funds, stimulating methods, accounting implication
Cod JEL: M41 D21
Text complet
Paginatie: 1358-1364
Titlul lucrarii: ANALYSIS OF A COMPANY’S LIQUIDITY BASED ON ITS FINANCIAL STATEMENTS
Autor(i): Pacurari Doina, Muntean Mircea
Rezumat: The liquidity characterise the financial situation of the company, its ability to convert assets into cash or to obtain cash to meet short-term obligations. Lack of liquidity may affect seriously the continuity of the company activities. Computation and analysis of the liquidity are made by a system of ratios based on the data within the financial statements. An absolute value of a liquidity ratio is not relevant. For a correct analysis of the companyТs financial situation more liquidity ratios have to be considered and their trend also.
Cuvinte cheie: Keywords: liquidity, ratio, analysis, financial statements
Cod JEL: M41 G10
Autor(i): Pacurari Doina, Muntean Mircea
Rezumat: The liquidity characterise the financial situation of the company, its ability to convert assets into cash or to obtain cash to meet short-term obligations. Lack of liquidity may affect seriously the continuity of the company activities. Computation and analysis of the liquidity are made by a system of ratios based on the data within the financial statements. An absolute value of a liquidity ratio is not relevant. For a correct analysis of the companyТs financial situation more liquidity ratios have to be considered and their trend also.
Cuvinte cheie: Keywords: liquidity, ratio, analysis, financial statements
Cod JEL: M41 G10
Text complet
Paginatie: 1365-1370
Titlul lucrarii: THE BOOK-KEEPING OF INSIDE-COMMUNITY TRANSACTIONS
Autor(i): Paliu-Popa Lucia
Rezumat: Starting from the reason that since the first Janury 2007 in the frame of foreign/abroad trade are not included the commercial operations or economical participation operations or technical-science operations in relations with stataes members of European Union, in the work presented below I intended to approach the way to evidence the inside-community transactions book-keepimg, taking into account the aquisitions and inside-community goods deliveries, illustrating the way the fiscality influences the book-keeping.
Cuvinte cheie: Keywords: transactions, acquisition, delivery, inside-community
Cod JEL: D23 M41 F20
Autor(i): Paliu-Popa Lucia
Rezumat: Starting from the reason that since the first Janury 2007 in the frame of foreign/abroad trade are not included the commercial operations or economical participation operations or technical-science operations in relations with stataes members of European Union, in the work presented below I intended to approach the way to evidence the inside-community transactions book-keepimg, taking into account the aquisitions and inside-community goods deliveries, illustrating the way the fiscality influences the book-keeping.
Cuvinte cheie: Keywords: transactions, acquisition, delivery, inside-community
Cod JEL: D23 M41 F20
Text complet
Paginatie: 1371-1375
Titlul lucrarii: BALANCE SHEET THEORIES AND THEIR COGNITIVE DYNAMISM
Autor(i): Paraschivescu Marius Dumitru, Pacurari Doina
Rezumat: All over the time, the accounting theorists and practitioners focused their attention on the synthesis accounting documents because, by means these documents, the financial position and the corresponding results are periodically rendered. Thus it is essential that the way this presentation is made should allow both some accurate comprehension of any companyТs economic reality and carrying on comparative analyses and forecasts regarding its subsequent evolution. This is the very reason for having been looked for an adequate model to help these purposes to be accomplished. Hence, a series of balance-sheet theories issued. The aim our paper hints at was to point out some theoretical aspects, specific to the classic theories on the balance-sheet, aspects that still prove to be of present interest.
Cuvinte cheie: balance-sheet, static, dynamic, organic, multiple, theories
Cod JEL: F30 M41
Autor(i): Paraschivescu Marius Dumitru, Pacurari Doina
Rezumat: All over the time, the accounting theorists and practitioners focused their attention on the synthesis accounting documents because, by means these documents, the financial position and the corresponding results are periodically rendered. Thus it is essential that the way this presentation is made should allow both some accurate comprehension of any companyТs economic reality and carrying on comparative analyses and forecasts regarding its subsequent evolution. This is the very reason for having been looked for an adequate model to help these purposes to be accomplished. Hence, a series of balance-sheet theories issued. The aim our paper hints at was to point out some theoretical aspects, specific to the classic theories on the balance-sheet, aspects that still prove to be of present interest.
Cuvinte cheie: balance-sheet, static, dynamic, organic, multiple, theories
Cod JEL: F30 M41
Text complet
Paginatie: 1376-1379
Titlul lucrarii: THE ELABORATION OF THE FIRM’S STRATEGY BY VALORIZING THE DATA OF THE MANAGERIAL ACCOUNTING
Autor(i): Paraschivescu Marius Dumitru, Fotache Gabriela
Rezumat: The strategy of domination through costs is the most popular from all the strategies at the microeconomic level. This opinion is sustained by the fact that the competition fight is the most often held by means of price. This paper refers to the comparative advantage who has the power to determine the consumer to buy the product or service which has the highest quality standards compared to the same product produced by another firm. The paper is focused on a series of advantages and disadvantages of the strategy of domination through costs, taking into consideration the importance of the sources of the cost advantage, and synthesize the fields of reducing costs.
Cuvinte cheie: strategy, advantage, costs
Cod JEL: M41 H32 L10
Autor(i): Paraschivescu Marius Dumitru, Fotache Gabriela
Rezumat: The strategy of domination through costs is the most popular from all the strategies at the microeconomic level. This opinion is sustained by the fact that the competition fight is the most often held by means of price. This paper refers to the comparative advantage who has the power to determine the consumer to buy the product or service which has the highest quality standards compared to the same product produced by another firm. The paper is focused on a series of advantages and disadvantages of the strategy of domination through costs, taking into consideration the importance of the sources of the cost advantage, and synthesize the fields of reducing costs.
Cuvinte cheie: strategy, advantage, costs
Cod JEL: M41 H32 L10
Text complet
Paginatie: 1380-1385
Titlul lucrarii: GREEN ACCOUNTING – A CHALLENGE FOR THE ACCOUNTANT SPECIALIST
Autor(i): Patrut Vasile, Ciuraru – Andrica Cristina, Luca Mihaela
Rezumat: Green or environmental accounting describes an effort to incorporate environmental benefits and costs into economic decision-making. Corporate environmental accounting is concerned with a business’s environmental impact, national environmental accounting tries to accomplish the same at a national level.
Cuvinte cheie: green accounting, sustainable development, environmental protection
Cod JEL: 021 O23
Autor(i): Patrut Vasile, Ciuraru – Andrica Cristina, Luca Mihaela
Rezumat: Green or environmental accounting describes an effort to incorporate environmental benefits and costs into economic decision-making. Corporate environmental accounting is concerned with a business’s environmental impact, national environmental accounting tries to accomplish the same at a national level.
Cuvinte cheie: green accounting, sustainable development, environmental protection
Cod JEL: 021 O23
Text complet
Paginatie: 1386-1391
Titlul lucrarii: STRATEGY COMMITTEES IN CORPORATE GOVERNANCE
Autor(i): Pop Atanasiu, CÑŽrstea Andreea, Fâ„–lÐŽp Melinda Timea
Rezumat: Corporate governance has for some years been one of the most intensively discussed topics in business. Until now, accounting and compliance issues have primarily been at the centre of the debate. However, some authors have started to point out that it might be time to let these discussions move backstage and to focus on alternative aspects of corporate governance such as the question of how a board of directors may and should exert influence on the corporationТs strategy. Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. The objective of this article is to determine which role strategy committees play and have played within the corporate governance concept and to establish which tasks these committees routinely perform.
Cuvinte cheie: Startegy Committee, Corporate Governance, Development, Board
Cod JEL: G30 F30
Autor(i): Pop Atanasiu, CÑŽrstea Andreea, Fâ„–lÐŽp Melinda Timea
Rezumat: Corporate governance has for some years been one of the most intensively discussed topics in business. Until now, accounting and compliance issues have primarily been at the centre of the debate. However, some authors have started to point out that it might be time to let these discussions move backstage and to focus on alternative aspects of corporate governance such as the question of how a board of directors may and should exert influence on the corporationТs strategy. Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. The objective of this article is to determine which role strategy committees play and have played within the corporate governance concept and to establish which tasks these committees routinely perform.
Cuvinte cheie: Startegy Committee, Corporate Governance, Development, Board
Cod JEL: G30 F30
Text complet
Paginatie: 1392-1397
Titlul lucrarii: THE OUTSOURCING OF INTERNAL AUDIT – IT IS A SOLUTION IN INCREASING THE QUALITY OF INTERNAL AUDIT?
Autor(i): Pop Atanasiu, Bota-avram Cristina
Rezumat: The dynamism of the economical environment where companies activate suppose for them a continuously search of solutions for improving over the control of activities developed. A solution is to adopt the internal audit function, and this offers answers to the questions which usually the manager of the company asks himself about how he or she and his collaborators could have a good and efficient control over the activities developed. For the positive results of the implementation of the internal audit function is necessary to be an independent function, without pressures or other influences which could stop the achieving the settled objectives. We will try to find in what measure the outsourcing of the internal audit function could determine the increasing of the quality of the internal audit, underling the advantages and disadvantages which could be generated, trying to issue few relevant conclusions.
Cuvinte cheie: internal audit, outsourcing,, independence, internal auditors
Cod JEL: M41 M42
Autor(i): Pop Atanasiu, Bota-avram Cristina
Rezumat: The dynamism of the economical environment where companies activate suppose for them a continuously search of solutions for improving over the control of activities developed. A solution is to adopt the internal audit function, and this offers answers to the questions which usually the manager of the company asks himself about how he or she and his collaborators could have a good and efficient control over the activities developed. For the positive results of the implementation of the internal audit function is necessary to be an independent function, without pressures or other influences which could stop the achieving the settled objectives. We will try to find in what measure the outsourcing of the internal audit function could determine the increasing of the quality of the internal audit, underling the advantages and disadvantages which could be generated, trying to issue few relevant conclusions.
Cuvinte cheie: internal audit, outsourcing,, independence, internal auditors
Cod JEL: M41 M42
Text complet
Paginatie: 1398-1401
Titlul lucrarii: TRANSFER PRICES: MECHANISMS, METHODS AND INTERNATIONAL APPROACHES
Autor(i): Pop Cosmina Madalina, Pop Valer, Balacia Diana
Rezumat: Transfer prices are considered the prices paid for the goods or services in a cross-border transaction between affiliates companies, often significant reduced or increased in order to avoid the higher imposing rates from one jurisdiction. Presently, over 60% of cross-border transfers are represented by intra-group transfers. The paper presents the variety of methods and mechanisms used by the companies to transfer the funds from one tax jurisdiction to another in order to avoid over taxation.
Cuvinte cheie: transfer pricing, intra-firm transaction, tax jurisdiction
Cod JEL: P42 E30 M41
Autor(i): Pop Cosmina Madalina, Pop Valer, Balacia Diana
Rezumat: Transfer prices are considered the prices paid for the goods or services in a cross-border transaction between affiliates companies, often significant reduced or increased in order to avoid the higher imposing rates from one jurisdiction. Presently, over 60% of cross-border transfers are represented by intra-group transfers. The paper presents the variety of methods and mechanisms used by the companies to transfer the funds from one tax jurisdiction to another in order to avoid over taxation.
Cuvinte cheie: transfer pricing, intra-firm transaction, tax jurisdiction
Cod JEL: P42 E30 M41
Text complet
Paginatie: 1402-1406
Titlul lucrarii: ASPECTS REGARDING CORPORATE MANDATORY AND VOLUNTARY DISCLOSURE
Autor(i): Popa Adina, Peres Ion
Rezumat: The paper highlights theoretical aspects regarding corporate mandatory and voluntary disclosure. Since financial and business reporting are important information sources for different stakeholders, especially for publicly traded companies, the business reporting is increasingly oriented to the need of different users. In order to make rational investment decisions, users of corporate annual and interim reports require an extensive range of information. The increasing needs of the users persuade different international bodies and researchers to investigate the improvements that can be done in business reporting. The results of those studies usually were different reporting models. Because voluntary dimension of corporate disclosure involve the manifestation of free choice of the firm and its managers, we have considered as necessary to achieve a theoretical analysis of the main costs and profits of the voluntary disclosure policy.
Cuvinte cheie: corporate disclosure, financial reporting, mandatory and voluntary disclosure
Cod JEL: M41 F30 G10
Autor(i): Popa Adina, Peres Ion
Rezumat: The paper highlights theoretical aspects regarding corporate mandatory and voluntary disclosure. Since financial and business reporting are important information sources for different stakeholders, especially for publicly traded companies, the business reporting is increasingly oriented to the need of different users. In order to make rational investment decisions, users of corporate annual and interim reports require an extensive range of information. The increasing needs of the users persuade different international bodies and researchers to investigate the improvements that can be done in business reporting. The results of those studies usually were different reporting models. Because voluntary dimension of corporate disclosure involve the manifestation of free choice of the firm and its managers, we have considered as necessary to achieve a theoretical analysis of the main costs and profits of the voluntary disclosure policy.
Cuvinte cheie: corporate disclosure, financial reporting, mandatory and voluntary disclosure
Cod JEL: M41 F30 G10
Text complet
Paginatie: 1407-1411
Titlul lucrarii: THE ANALYSIS OF THE RESULT PER SHARE MEASUREMENT INDICATOR FOR THE PERFORMANCES OF THE ENTERPRISE
Autor(i): Popa Dorina Nicoleta, Scorte Carmen Mihaela
Rezumat: The result per share is one of the indicators most often used in the financial analyses drawn up for the financial record of the enterprises, mainly the Anglo-Saxon ones, which can operate as a basis for comparison of the financial performance for the enterprises listed, which run their activity within the same sector and it can be a useful complementary indicator in following the prospective profits in the field. This indicator does not provide though the possibility to compare all the enterprises which compute it due to the difficulties in interpreting the differences noticed from one enterprise to another, differences which can result from the different number of shares issued by each of them and from the different categories of shares issued. The paper has in view the description and exemplification of the computing model of the Result per share indicator.
Cuvinte cheie: indicators, result on action, performance
Cod JEL: L10 M41
Autor(i): Popa Dorina Nicoleta, Scorte Carmen Mihaela
Rezumat: The result per share is one of the indicators most often used in the financial analyses drawn up for the financial record of the enterprises, mainly the Anglo-Saxon ones, which can operate as a basis for comparison of the financial performance for the enterprises listed, which run their activity within the same sector and it can be a useful complementary indicator in following the prospective profits in the field. This indicator does not provide though the possibility to compare all the enterprises which compute it due to the difficulties in interpreting the differences noticed from one enterprise to another, differences which can result from the different number of shares issued by each of them and from the different categories of shares issued. The paper has in view the description and exemplification of the computing model of the Result per share indicator.
Cuvinte cheie: indicators, result on action, performance
Cod JEL: L10 M41
Text complet
Paginatie: 1412-1417
Titlul lucrarii: ACCOUNTING INFORMATION – POWER INSTRUMENT FOR ADVANCED MANAGEMENT IN KNOWLEDGE BASED ORGANIZATIONS
Autor(i): Potecea Olga, Garboveanu Emilia, Radneantu Nicoleta
Rezumat: In elaborating the paper, we started from the idea of the necessity of knowing the reasons that determined the reconsideration of the importance of accounting information, in order to ensure survival, performance and durability of businesses in the context of the new challenges launched by the world economy. Continuous adjustments that influence companies impose the necessity of reassessment of accounting information as a management instrument, to determine the situation, to notice the opportunities and risks derived from the companyТs overall policy, to observe strengths and weaknesses, to make adequate decisions in time and, more than that, to control the results obtained. Finally, we concluded that the difficulty of reflection of operations generated by the phenomenon of the sustained development of organizations determined reconsideration of financial-accounting information systems and generated new terms such as: knowledge management, knowledge transfer, knowledge sharing and knowledge organizations.
Cuvinte cheie: Knowledge based organization, Accounting information, Management Information System, Knowledge management
Cod JEL:
Autor(i): Potecea Olga, Garboveanu Emilia, Radneantu Nicoleta
Rezumat: In elaborating the paper, we started from the idea of the necessity of knowing the reasons that determined the reconsideration of the importance of accounting information, in order to ensure survival, performance and durability of businesses in the context of the new challenges launched by the world economy. Continuous adjustments that influence companies impose the necessity of reassessment of accounting information as a management instrument, to determine the situation, to notice the opportunities and risks derived from the companyТs overall policy, to observe strengths and weaknesses, to make adequate decisions in time and, more than that, to control the results obtained. Finally, we concluded that the difficulty of reflection of operations generated by the phenomenon of the sustained development of organizations determined reconsideration of financial-accounting information systems and generated new terms such as: knowledge management, knowledge transfer, knowledge sharing and knowledge organizations.
Cuvinte cheie: Knowledge based organization, Accounting information, Management Information System, Knowledge management
Cod JEL:
Text complet
Paginatie: 1418-1423
Titlul lucrarii: VAT AFFERENT TO INTRA-COMMUNITARIAN ACQUISITION, A NEW COMPONENT OF VAT SYSTEM FROM ROMANIA
Autor(i): Pravat Ionela-Cristina, Raileanu Adriana-Sofia
Rezumat: Our countryТs adhesion to European Union brought numerous new specific elements to Romanian fiscality and accountancy. Among these, one extremely important is represented by the appearance of new operations in the value added tax sphere, respective of intra-communitarian deliveries and acquisitions operations.
The present study will try to emphasize the most important aspects concerning fiscal and accounting treatments afferent to value added tax for intra-communitarian acquisition operations.
Cuvinte cheie: intra-communitarian acquisition, registration with VAT purpose, intra-communitarian acquisition place, reversed taxing
Cod JEL: R12 M41
Autor(i): Pravat Ionela-Cristina, Raileanu Adriana-Sofia
Rezumat: Our countryТs adhesion to European Union brought numerous new specific elements to Romanian fiscality and accountancy. Among these, one extremely important is represented by the appearance of new operations in the value added tax sphere, respective of intra-communitarian deliveries and acquisitions operations.
The present study will try to emphasize the most important aspects concerning fiscal and accounting treatments afferent to value added tax for intra-communitarian acquisition operations.
Cuvinte cheie: intra-communitarian acquisition, registration with VAT purpose, intra-communitarian acquisition place, reversed taxing
Cod JEL: R12 M41
Text complet
Paginatie: 1424-1429
Titlul lucrarii: LES ASPECTS COMPTABLES DES OPERATIONS DE RESTRUCTURATION PAR ACQUISITIONS ET FUSIONS
Autor(i): Rachisan Paula Ramona, Grosanu Adrian, Berinde Sorin Romulus
Rezumat: Le processus de restructuration est devenu une composante majeure du processus de globalisation par suite de la dimension dщfinitoire des restructurations corporatistes de pays dщveloppщs, mais il a щtщ et reste un phщnomшne dТintщrъt majeur pour les sociщtщs en transition aussi. La crщation des marchщs de capital, lТщvolution des investissements щtrangers, les processus de privatisation sont les composantes dщfinitoires des typologies de restructuration. Dans ce contexte, les sociщtщs commerciales ont jouщ un rЇle clщ dans lТouverture de nouveaux horizons, dans la capacitщ de sТadapter aux fortes transformations qui ont eu lieu dans une sociщtщ dynamique, tout en contribuant au dщveloppement de lТщconomie nationale et de la sociщtщ en gщnщral. Dans lТщconomie moderne, consolidщe, les coordonnщes majeures de la dynamique des entitщs sont instituщes par des normes juridiques adщquates, qui prщvoient que les entitщs peuvent concurrencer entre elles et entrer dans diffщrents rapports de coopщration et association.
Cuvinte cheie: restructuration, entitщ щconomique, fusions, acquisition, analyse comptable
Cod JEL: M41 G15
Autor(i): Rachisan Paula Ramona, Grosanu Adrian, Berinde Sorin Romulus
Rezumat: Le processus de restructuration est devenu une composante majeure du processus de globalisation par suite de la dimension dщfinitoire des restructurations corporatistes de pays dщveloppщs, mais il a щtщ et reste un phщnomшne dТintщrъt majeur pour les sociщtщs en transition aussi. La crщation des marchщs de capital, lТщvolution des investissements щtrangers, les processus de privatisation sont les composantes dщfinitoires des typologies de restructuration. Dans ce contexte, les sociщtщs commerciales ont jouщ un rЇle clщ dans lТouverture de nouveaux horizons, dans la capacitщ de sТadapter aux fortes transformations qui ont eu lieu dans une sociщtщ dynamique, tout en contribuant au dщveloppement de lТщconomie nationale et de la sociщtщ en gщnщral. Dans lТщconomie moderne, consolidщe, les coordonnщes majeures de la dynamique des entitщs sont instituщes par des normes juridiques adщquates, qui prщvoient que les entitщs peuvent concurrencer entre elles et entrer dans diffщrents rapports de coopщration et association.
Cuvinte cheie: restructuration, entitщ щconomique, fusions, acquisition, analyse comptable
Cod JEL: M41 G15
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Paginatie: 1434-1441
Titlul lucrarii: POSITIVE THEORY OF ACCOUNTING CHOICE – USING ACCOUNTING CHOICE AS SIGNAL VARIABLE
Autor(i): Raileanu Adriana, Pravat Ionela,
Rezumat: Besides the conflicts of interests, a new tendency of theoretical writings has recently emerged in the economic literature and then in the financial and accounting ones, regrouped under the English term УsignalingФ. The underlying hypotheses re-tackle the idea of information asymmetry which stipulates that the directors of enterprises hold more accurate information than that available to the market. The “signaling” theory states that the market mechanisms are enticing enough to urge even the directors to publish the available information in order for the situation not to end in a non-optimal equilibrium. That is, if the investors do not have the capacity to distinguish between the competitive enterprises and the others, the former ones will be tempted to differentiate themselves by means of a “signaling” mechanism in order to obtain advantages.
Cuvinte cheie: signal, performance, information, accounting policy
Cod JEL:
Autor(i): Raileanu Adriana, Pravat Ionela,
Rezumat: Besides the conflicts of interests, a new tendency of theoretical writings has recently emerged in the economic literature and then in the financial and accounting ones, regrouped under the English term УsignalingФ. The underlying hypotheses re-tackle the idea of information asymmetry which stipulates that the directors of enterprises hold more accurate information than that available to the market. The “signaling” theory states that the market mechanisms are enticing enough to urge even the directors to publish the available information in order for the situation not to end in a non-optimal equilibrium. That is, if the investors do not have the capacity to distinguish between the competitive enterprises and the others, the former ones will be tempted to differentiate themselves by means of a “signaling” mechanism in order to obtain advantages.
Cuvinte cheie: signal, performance, information, accounting policy
Cod JEL:
Text complet
Paginatie: 1442-1444
Titlul lucrarii: A COMPARTIVE STUDY ON ACCOUNTING HEREDITY: THE CASE OF EX SOVIET COUNTRIES VERSUS OTHER EASTERN EUROPEAN COUNTRIES
Autor(i): Ristea Mihai, Calu Daniela Artemisa, Olimid Lavinia, Guse Gina Raluca
Rezumat: This paper aims at investigating the existence of accounting heredity in some of Eastern European countries. Accounting heredity assumes that at the time the economic paradigm changes, a new accounting system emerges, enclosing both genes from the existing accounting system, as well as genes from a new accounting system used as an inspiration.
Data was gathered by sending questionnaires to academics in the respective countries. Studied countries fell into two categories: Ex Soviet countries (Republic of Moldova & Ukrane), and other Est European countries (Romania, Republic of Macedonia and the Czech Republic). It analyses the survival of communist accounting practices in the post-1990 accounting systems and identifies other eternal influences that shaped these accounting systems.
Cuvinte cheie: Accounting Heredity, Accounting Change, Accounting Genes, Eastern European Countries, Accounting History
Cod JEL: M41 F20
Autor(i): Ristea Mihai, Calu Daniela Artemisa, Olimid Lavinia, Guse Gina Raluca
Rezumat: This paper aims at investigating the existence of accounting heredity in some of Eastern European countries. Accounting heredity assumes that at the time the economic paradigm changes, a new accounting system emerges, enclosing both genes from the existing accounting system, as well as genes from a new accounting system used as an inspiration.
Data was gathered by sending questionnaires to academics in the respective countries. Studied countries fell into two categories: Ex Soviet countries (Republic of Moldova & Ukrane), and other Est European countries (Romania, Republic of Macedonia and the Czech Republic). It analyses the survival of communist accounting practices in the post-1990 accounting systems and identifies other eternal influences that shaped these accounting systems.
Cuvinte cheie: Accounting Heredity, Accounting Change, Accounting Genes, Eastern European Countries, Accounting History
Cod JEL: M41 F20
Text complet
Paginatie: 1445-1450
Titlul lucrarii: THE ANALYSIS OF THE DEFICIENCIES IN THE WARES FINANCIAL MANAGEMENT DISCHARGE
Autor(i): Roman Adrian
Rezumat: This analysis intends to draw the attention upon the accounting issues concerning the wares financial management discharge which, due to the easiness in treating it caused troubles in appropriately presenting the turnover in the profit and loss account, in the situation in which commercial reductions are treated as financial reductions or caused issues in the inventory accounting in case the accounting judgement is not finalized.
Cuvinte cheie: commercial reduction, financial management discharge method, wares
Cod JEL: M41 G10
Autor(i): Roman Adrian
Rezumat: This analysis intends to draw the attention upon the accounting issues concerning the wares financial management discharge which, due to the easiness in treating it caused troubles in appropriately presenting the turnover in the profit and loss account, in the situation in which commercial reductions are treated as financial reductions or caused issues in the inventory accounting in case the accounting judgement is not finalized.
Cuvinte cheie: commercial reduction, financial management discharge method, wares
Cod JEL: M41 G10
Text complet
Paginatie: 1451-1454
Titlul lucrarii: STANDARDISATION AND PROFESSIONAL JUDGMENT IN THE ACCOUNTING PRACTICE
Autor(i): Rotila Aristita, Patrut Vasile
Rezumat: The paper approaches the socially regulated character of accounting practice through norms (standards) and judicial regulations, and the role of professional judgment within this context.
Cuvinte cheie: accounting, standards, normalisation, convergence, accounting policies, judgment, practice
Cod JEL: M41 G10
Autor(i): Rotila Aristita, Patrut Vasile
Rezumat: The paper approaches the socially regulated character of accounting practice through norms (standards) and judicial regulations, and the role of professional judgment within this context.
Cuvinte cheie: accounting, standards, normalisation, convergence, accounting policies, judgment, practice
Cod JEL: M41 G10
Text complet
Paginatie: 1455-1460
Titlul lucrarii: PERFORMANCE ASSESSMENT OF RESPONSABILITY CENTERS BASED ON INTERNAL TRANSFER COSTS
Autor(i): Sgardea Florinel Marian
Rezumat: Internal transfer costs (ITC) are the costs, which assess the internal performance available between the УsellerФ responsibility centres and the “buyer” responsibility centres of a company. A profit centre can receive some deliveries from the centres of the same company. Furthermore, it can sell (transfer) part of its production to other centres of the company. At centres level profit (or cost) shall be determined following the assessment of the internal performances based on the internal transfer costs.Internal transfer costs do not change the overall result of the company. The term of transfer costs is used when internal transfers occur between two different juridical entities, and assessment of goods and service transfer results in fiscal effects (e.g. transfer of secret benefits from a country to another or results distribution per branches). This paper will not approach the fiscal issues of transfer costs. Upon choosing of internal transfer costs, a wide range of factors should be considered, as follows: nature of responsibility centres, supply sources, company’s strategy.
Cuvinte cheie: internal transfer costs, John Dearden pattern, Robert Eccles pattern ,optimum program
Cod JEL: M41 G20
Autor(i): Sgardea Florinel Marian
Rezumat: Internal transfer costs (ITC) are the costs, which assess the internal performance available between the УsellerФ responsibility centres and the “buyer” responsibility centres of a company. A profit centre can receive some deliveries from the centres of the same company. Furthermore, it can sell (transfer) part of its production to other centres of the company. At centres level profit (or cost) shall be determined following the assessment of the internal performances based on the internal transfer costs.Internal transfer costs do not change the overall result of the company. The term of transfer costs is used when internal transfers occur between two different juridical entities, and assessment of goods and service transfer results in fiscal effects (e.g. transfer of secret benefits from a country to another or results distribution per branches). This paper will not approach the fiscal issues of transfer costs. Upon choosing of internal transfer costs, a wide range of factors should be considered, as follows: nature of responsibility centres, supply sources, company’s strategy.
Cuvinte cheie: internal transfer costs, John Dearden pattern, Robert Eccles pattern ,optimum program
Cod JEL: M41 G20
Text complet
Paginatie: 1461-1465
Titlul lucrarii: LE TRAITEMENT COMPTABLE DES ELEMENTS INCORPORELS
Autor(i): Sgardea Florinel Marian
Rezumat: Cette щtude se propose de synthщtiser les щlщments spщcifiques des immobilisations incorporelles. A l’heure o∙ l’IASC travaille sur un projet de norme sur les immobilisations incorporelles, un aperчu de la pratique dans divers pays d’Europe peut ÑŠtre intщressant Ñ€ plusieurs titres. Il permet d’abord d’apprщcier la diversitщ des approches, et leur liens щventuels avec les cultures nationales. Il pose bien щvidemment le problшme de l’harmonisation internationale des pratiques en matiшre d’incorporel. Enfin, cette comparaison permet d’illustrer la diversitщ des interprщtations du terme “incorporel”, et la richesse des spщcificitщs nationales. Dans cette optique, aprшs un rappel des normes comptables des pays europщens les plus caractщristiques (Allemagne, France, Italie, Pays-Bas, Royaume-Uni), nous verrons o∙ en est l’щtat de la pratique en ce qui concerne la comptabilisation et la reconnaissance des щlщments incorporels.
Cuvinte cheie: actifs incorporels, Goodwill, frais d’щtablissement, frais de R&D
Cod JEL: M41 F30
Autor(i): Sgardea Florinel Marian
Rezumat: Cette щtude se propose de synthщtiser les щlщments spщcifiques des immobilisations incorporelles. A l’heure o∙ l’IASC travaille sur un projet de norme sur les immobilisations incorporelles, un aperчu de la pratique dans divers pays d’Europe peut ÑŠtre intщressant Ñ€ plusieurs titres. Il permet d’abord d’apprщcier la diversitщ des approches, et leur liens щventuels avec les cultures nationales. Il pose bien щvidemment le problшme de l’harmonisation internationale des pratiques en matiшre d’incorporel. Enfin, cette comparaison permet d’illustrer la diversitщ des interprщtations du terme “incorporel”, et la richesse des spщcificitщs nationales. Dans cette optique, aprшs un rappel des normes comptables des pays europщens les plus caractщristiques (Allemagne, France, Italie, Pays-Bas, Royaume-Uni), nous verrons o∙ en est l’щtat de la pratique en ce qui concerne la comptabilisation et la reconnaissance des щlщments incorporels.
Cuvinte cheie: actifs incorporels, Goodwill, frais d’щtablissement, frais de R&D
Cod JEL: M41 F30
Text complet
Paginatie: 1466-1470
Titlul lucrarii: ACCOUNTANCY VIEWPOINTS REFERRING TO COMPANIES PERFORMANCE
Autor(i): Socoliuc Marian, Tulvinschi Mihaela
Rezumat: The companyТs performance reflects its capacity of generating future cash-flows, as well as the efficiency of its resources. The information on the performance and profitability is essential for estimating the potential variations of companyТs resources that are to be controlled in the future. The information on performance variation is also useful for anticipating the entity capacity to generate cash-flows using its existent resources, and for analyzing the efficiency of using new resources.
Cuvinte cheie: the companies performance, profit and loss account, financial statements, income, expenses
Cod JEL: P17 M41
Autor(i): Socoliuc Marian, Tulvinschi Mihaela
Rezumat: The companyТs performance reflects its capacity of generating future cash-flows, as well as the efficiency of its resources. The information on the performance and profitability is essential for estimating the potential variations of companyТs resources that are to be controlled in the future. The information on performance variation is also useful for anticipating the entity capacity to generate cash-flows using its existent resources, and for analyzing the efficiency of using new resources.
Cuvinte cheie: the companies performance, profit and loss account, financial statements, income, expenses
Cod JEL: P17 M41
Text complet
Paginatie: 1471-1474
Titlul lucrarii: EXIGENCIES AND RISKS CONCERNING THE MISSION OF FINANCIAL AUDIT
Autor(i): Staicu Constantin, Mehedintu-Ionescu Florea
Rezumat: The realization of a mission of financial audit in our country is realized with the respect of the International Standards of Audit, which confers the general frame adequate to such a step. The practical activity proved however that the actual realization of the mission involves detail elements which, at the extent at which they are considered, can contribute to the increase of the quality of the audit in its entirety. Having as premise the ones exposed, within the present work we debate aspects like the assumption of some increased responsibilities and exigencies in exerting the mission, the reduction of the risk regarding the incorrect information as well as the influence exerted by the particularities of the sector of activity of the entity audited that in our opinion have to be considered by the auditors during the entire duration of the mission assumed.
Cuvinte cheie: accounting information, financial audit, exigencies, risks
Cod JEL: M41 M42
Autor(i): Staicu Constantin, Mehedintu-Ionescu Florea
Rezumat: The realization of a mission of financial audit in our country is realized with the respect of the International Standards of Audit, which confers the general frame adequate to such a step. The practical activity proved however that the actual realization of the mission involves detail elements which, at the extent at which they are considered, can contribute to the increase of the quality of the audit in its entirety. Having as premise the ones exposed, within the present work we debate aspects like the assumption of some increased responsibilities and exigencies in exerting the mission, the reduction of the risk regarding the incorrect information as well as the influence exerted by the particularities of the sector of activity of the entity audited that in our opinion have to be considered by the auditors during the entire duration of the mission assumed.
Cuvinte cheie: accounting information, financial audit, exigencies, risks
Cod JEL: M41 M42
Text complet
Paginatie: 1475-1479
Titlul lucrarii: WESENTLICHE AUSWIRKUNGEN AUF DAS DEUTSCHE HANDELSRECHT DURCH DAS GEPLANTE BILANZRECHTSMODERNISIERUNGSGESETZ(BILMOG)-ANLEHGUNG AN INTERNATIONALE RECHNUNGSLEGUNGSSTANDARDS
Autor(i): Stahl Martin, Sahlian Daniela-nicoleta, Tutu Anca
Rezumat: Durch die geplante Umsetzung des sogenannten Bilanzrechtsmodernisierungsgesetzes (kurz: BilMoG) kommt die grЎ▀te Reform auf die deutsche handelsrechtliche Rechnungslegung seit dem Bilanzrichtliniengesetz von 1985 zu. Der deutsche Gesetzgeber will das bewфhrte Handelsgesetzbuch (HGB) im Vergleich zu den internationalen IFRS noch attraktiver machen. Es soll die Aussagekraft des HGB-Abschlusses erhЎht und die Aktualisierung des HGB f№r nicht kapitalmarktorientierte Unternehmen als Antwort auf die IFRS erfolgen.
Cuvinte cheie: BilMoG (Bilanzrechtsmodernisierungsgesetzes),Handelsgesetzbuch(HGB),
Cod JEL: G20 F30 M41
Autor(i): Stahl Martin, Sahlian Daniela-nicoleta, Tutu Anca
Rezumat: Durch die geplante Umsetzung des sogenannten Bilanzrechtsmodernisierungsgesetzes (kurz: BilMoG) kommt die grЎ▀te Reform auf die deutsche handelsrechtliche Rechnungslegung seit dem Bilanzrichtliniengesetz von 1985 zu. Der deutsche Gesetzgeber will das bewфhrte Handelsgesetzbuch (HGB) im Vergleich zu den internationalen IFRS noch attraktiver machen. Es soll die Aussagekraft des HGB-Abschlusses erhЎht und die Aktualisierung des HGB f№r nicht kapitalmarktorientierte Unternehmen als Antwort auf die IFRS erfolgen.
Cuvinte cheie: BilMoG (Bilanzrechtsmodernisierungsgesetzes),Handelsgesetzbuch(HGB),
Cod JEL: G20 F30 M41
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Paginatie: 1480-1484
Titlul lucrarii: FINANCIAL ACCOUNTING AND MANAGEMENT ACCOUNTING SUPPLIERS OF INFORMATION ABOUT COSTS IN COMPANYТS MANAGEMENT FROM ROMANIA
Autor(i): Suiu Ion
Rezumat: Now, according to the Romanian law, the companies stipulated in the law must organize and lead their own accountancy, financial accountancy according to the Accounting Law and the management accountancy adapted to the specific of the company.
The differences between the financial accountancy and management accountancy generate a double classification of the expenditures:
– in the financial accountancy according to the criterion of the economic-financial condition (exploitation, financial and extraordinary expenditures)
– in the management accountancy according to the criterion of expenditures destination (the expenditures of the main activity, the expenditures of the auxiliary activity, indirect production expenditures, general management expenditures and sale expenditures).
Cuvinte cheie: Production costs, profit brute increase with partial costs, variable costs, fixed cost, cost of period, direct expenditures, indirect expenditures
Cod JEL: D61 M41
Autor(i): Suiu Ion
Rezumat: Now, according to the Romanian law, the companies stipulated in the law must organize and lead their own accountancy, financial accountancy according to the Accounting Law and the management accountancy adapted to the specific of the company.
The differences between the financial accountancy and management accountancy generate a double classification of the expenditures:
– in the financial accountancy according to the criterion of the economic-financial condition (exploitation, financial and extraordinary expenditures)
– in the management accountancy according to the criterion of expenditures destination (the expenditures of the main activity, the expenditures of the auxiliary activity, indirect production expenditures, general management expenditures and sale expenditures).
Cuvinte cheie: Production costs, profit brute increase with partial costs, variable costs, fixed cost, cost of period, direct expenditures, indirect expenditures
Cod JEL: D61 M41
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Paginatie: 1485-1489
Titlul lucrarii: TRIDIMENSIONAL APPROACHES OF THE INTERNAL AUDIT, PRIVATE, PUBLIC AND BANKING SYSTEM
Autor(i): Stefanescu Aurelia, Turlea Eugeniu, Duca Ioana, Dumitru Viorel
Rezumat: Entities, no matter what operating system they have, private, public, banking, have as a purpose the value adding. The internal audit has its contribution to the achievement of this goal. This research explains the tridimensional approach of the concept of internal audit and identifies the elements that emphasize, in a tridimensional way, the internal audit. The steps of the reaserch take into consideration a synthesis of the materials published by the national and international accounting standards, by professional bodies, papers on this theme proposed for debat, as well as materials of the economic entities
Cuvinte cheie: Keywords: internal audit, internal public audit, banking internal audit, risk, plusvalue
Cod JEL: M41 M42 D80
Autor(i): Stefanescu Aurelia, Turlea Eugeniu, Duca Ioana, Dumitru Viorel
Rezumat: Entities, no matter what operating system they have, private, public, banking, have as a purpose the value adding. The internal audit has its contribution to the achievement of this goal. This research explains the tridimensional approach of the concept of internal audit and identifies the elements that emphasize, in a tridimensional way, the internal audit. The steps of the reaserch take into consideration a synthesis of the materials published by the national and international accounting standards, by professional bodies, papers on this theme proposed for debat, as well as materials of the economic entities
Cuvinte cheie: Keywords: internal audit, internal public audit, banking internal audit, risk, plusvalue
Cod JEL: M41 M42 D80
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Paginatie: 1490-1494
Titlul lucrarii: BETWEEN THE EXTERNAL CONTROL AND THE INTERN CONTROL
Autor(i): Teiusan Sorin-ciprian, Briciu Sorin
Rezumat: Eight years ago, in a specialty paper, the authors appreciated that Уthe trade societies censors can be considered a combination between the own control and the external one of the enterpriseФ. Starting from this statement, the authors of the present paper are asking a question, which can be formulated in a concise way like this: Which is in present the place, but more special the role of the censorial control in the frame of the Romanian economic units? Giving an answer implies the approach in the present paper of the aspects that regard the censors of the trade societies and the activities developed by those in the native patrimonial entities, based on the legislative regulations in this moment in our country.
Cuvinte cheie: censorial control, external control, trade societies, financial audit
Cod JEL: F10 M41 M42
Autor(i): Teiusan Sorin-ciprian, Briciu Sorin
Rezumat: Eight years ago, in a specialty paper, the authors appreciated that Уthe trade societies censors can be considered a combination between the own control and the external one of the enterpriseФ. Starting from this statement, the authors of the present paper are asking a question, which can be formulated in a concise way like this: Which is in present the place, but more special the role of the censorial control in the frame of the Romanian economic units? Giving an answer implies the approach in the present paper of the aspects that regard the censors of the trade societies and the activities developed by those in the native patrimonial entities, based on the legislative regulations in this moment in our country.
Cuvinte cheie: censorial control, external control, trade societies, financial audit
Cod JEL: F10 M41 M42
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Paginatie: 1495-1499
Titlul lucrarii: ACCOUNTANCY OPTIONS FOR TANGIBLE ASSETS
Autor(i): Tulvinschi Mihaela, Socoliuc Marian
Rezumat: The contemporaneous evolution of the accountancy is characterized through strong tendencies of international accountancy normalization and adapting. This signifies that in most countries the accountancy is supported by common rules and that it drafts synthesis documents whose models are identical for all economic entities. Through the subject approached, this article has in view as main goal presenting the main accountancy operations the companies have as regards acknowledging, assessing and reassessing the tangible assets. The accountancy options concerning the issues mentioned are analyzed with the help of means specific to the financial accountancy in the context of applying the International Accountancy Standards and the International Financial Reporting Standards. The practical examples within this paper will have as role emphasizing the fact that the companies can now choose the most favorable option among the accountancy options allowed by the international standards.
Cuvinte cheie: long term assets, recognizing, assessing, amortization, standard, cost, value.
Cod JEL: M41 G12 D61
Autor(i): Tulvinschi Mihaela, Socoliuc Marian
Rezumat: The contemporaneous evolution of the accountancy is characterized through strong tendencies of international accountancy normalization and adapting. This signifies that in most countries the accountancy is supported by common rules and that it drafts synthesis documents whose models are identical for all economic entities. Through the subject approached, this article has in view as main goal presenting the main accountancy operations the companies have as regards acknowledging, assessing and reassessing the tangible assets. The accountancy options concerning the issues mentioned are analyzed with the help of means specific to the financial accountancy in the context of applying the International Accountancy Standards and the International Financial Reporting Standards. The practical examples within this paper will have as role emphasizing the fact that the companies can now choose the most favorable option among the accountancy options allowed by the international standards.
Cuvinte cheie: long term assets, recognizing, assessing, amortization, standard, cost, value.
Cod JEL: M41 G12 D61
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Paginatie: 1500-1505
Titlul lucrarii: ROMANIAN PUBLIC SECTOR ENTITIES BETWEEN PERFORMANCE AND AUDIT OF PERFORMANCE
Autor(i): Turlea Eugeniu, Stefanescu Aurelia, Dumitru Viorel
Rezumat: Performance creation and measurment in the public sector entities has become a priority in the Romanian public sector. Limited resources, many and different requests for quality services compel the government to have a greater control upon the way of spending public money and providing economy, efficiency and effectiveness services. By this constructive research we define the performance concept, identify the ways of measuring and assessing the degree of performance achievement in the public sector from Romania.
Cuvinte cheie: performance, economy, efficiency, effectiveness, audit of performance
Cod JEL: P14 M42
Autor(i): Turlea Eugeniu, Stefanescu Aurelia, Dumitru Viorel
Rezumat: Performance creation and measurment in the public sector entities has become a priority in the Romanian public sector. Limited resources, many and different requests for quality services compel the government to have a greater control upon the way of spending public money and providing economy, efficiency and effectiveness services. By this constructive research we define the performance concept, identify the ways of measuring and assessing the degree of performance achievement in the public sector from Romania.
Cuvinte cheie: performance, economy, efficiency, effectiveness, audit of performance
Cod JEL: P14 M42
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Paginatie: 1506-1509
Titlul lucrarii: DER WERTHALTIGKEITSTEST
Autor(i): Ungureanu Camelia, Muresan Mariana
Rezumat: The Impairment test is one of the most important topics of the IFRS, thatТs why it is an obliging low value test for the assessment of the fixed assets. The execution of the tests requires in many cases a capitalized value of potential yield inquiry by a Discounted-cash-flow method.
An impairment test is carried out for a line of business (cash Generating Unit). Under certain requisites, a whole line of business is tested on a decrease in value, not only single objects.
US-GAAP and IFRS ask a periodical judgment of possible indicators of a lasting value impairment. It is the aim that the assets aren’t shown in the balance more highly than her obtainable value.
Cuvinte cheie: Werthaltigkeitstest, Cash Generating Units, Wertminderung, Wertaufholung
Cod JEL: M41 F30
Autor(i): Ungureanu Camelia, Muresan Mariana
Rezumat: The Impairment test is one of the most important topics of the IFRS, thatТs why it is an obliging low value test for the assessment of the fixed assets. The execution of the tests requires in many cases a capitalized value of potential yield inquiry by a Discounted-cash-flow method.
An impairment test is carried out for a line of business (cash Generating Unit). Under certain requisites, a whole line of business is tested on a decrease in value, not only single objects.
US-GAAP and IFRS ask a periodical judgment of possible indicators of a lasting value impairment. It is the aim that the assets aren’t shown in the balance more highly than her obtainable value.
Cuvinte cheie: Werthaltigkeitstest, Cash Generating Units, Wertminderung, Wertaufholung
Cod JEL: M41 F30
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Paginatie: 1510-1516
Titlul lucrarii: THE BUDGET OF THE EUROPEAN UNION
Autor(i): Vaduva Liliana Marinela
Rezumat: The growing deficit after the adhesion to the EU and its volatility represents a serious problem. Our country must have more ambitious budgetary objectives, in order to avoid the breaching of the rules of the Pact for stability and growth and to limit the growth of the external deficit and the inflationist pressures, that constitute a risk for the macroeconomic and financial stability.
According to the law of the budget for 2008, the budgetary deficit will represent 2.7% from the Gross Domestic Product. The level of the deficit is an economic condition foreseen in the Pact for stability and cannot exceed 3% from the Gross Domestic Product in the countries member of the European Union. At the same time the increase of the deficit is essential for the adhesion of Romania to the unique European currency
Cuvinte cheie: budget, deficit, states member
Cod JEL: H61 H63
Autor(i): Vaduva Liliana Marinela
Rezumat: The growing deficit after the adhesion to the EU and its volatility represents a serious problem. Our country must have more ambitious budgetary objectives, in order to avoid the breaching of the rules of the Pact for stability and growth and to limit the growth of the external deficit and the inflationist pressures, that constitute a risk for the macroeconomic and financial stability.
According to the law of the budget for 2008, the budgetary deficit will represent 2.7% from the Gross Domestic Product. The level of the deficit is an economic condition foreseen in the Pact for stability and cannot exceed 3% from the Gross Domestic Product in the countries member of the European Union. At the same time the increase of the deficit is essential for the adhesion of Romania to the unique European currency
Cuvinte cheie: budget, deficit, states member
Cod JEL: H61 H63
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Paginatie: 1517-1521
Titlul lucrarii: THE BALANCED SCORECARD IN THE SOCIAL DOMAIN
Autor(i): Varzaru Anca
Rezumat: In the conditions, in which human resources are recognized as the main wealth of an organization, appears as a paradox the fact that all the implied disciplines in its activity are not ready to offer qualitative information in this domain. The accountancy, the finances and the management of which analysis and synthesis is generously when itТs talked about material and financial resources, fix capital; they were in debt and never knew how to adapt to the new requirements generated by the social management. The apparition of the social scorecard to the managementТs initiative whishes to be a good start in the action of informational recovery connected by the human resources function and a signal towards the specialists of other disciplines, which have to involve in this kind of process. The present paper proposes an analysis of the social scorecard evolution and highlighting of the rules and principles which allow to each initiative in this sense to succeed.
Cuvinte cheie: previsional system, pay politics, social development, social climate, instrument of measure
Cod JEL: G35 F30
Autor(i): Varzaru Anca
Rezumat: In the conditions, in which human resources are recognized as the main wealth of an organization, appears as a paradox the fact that all the implied disciplines in its activity are not ready to offer qualitative information in this domain. The accountancy, the finances and the management of which analysis and synthesis is generously when itТs talked about material and financial resources, fix capital; they were in debt and never knew how to adapt to the new requirements generated by the social management. The apparition of the social scorecard to the managementТs initiative whishes to be a good start in the action of informational recovery connected by the human resources function and a signal towards the specialists of other disciplines, which have to involve in this kind of process. The present paper proposes an analysis of the social scorecard evolution and highlighting of the rules and principles which allow to each initiative in this sense to succeed.
Cuvinte cheie: previsional system, pay politics, social development, social climate, instrument of measure
Cod JEL: G35 F30
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Paginatie: 1522-1526
Titlul lucrarii: THE PERFORMANCE AUDIT. THE EXPERIENCE OF OTHER SUPREME AUDIT INSTITUTIONS
Autor(i): Voiculescu Serban, Tataru Violeta
Rezumat: People using financial records, such as stockholders, bankers, creditors, governmental authorities and the public must be persuaded that the companyТs image, as presented, is not confusing. That is why the laws in force stipulate that the general manager has to obtain a second opinion, belonging to an expert outside the company, known as the financial auditor. The auditor does not depend on the companyТs management and does not represent a group of interests. The financial records are credible due to his expertise, education, integrity, practice of professional reasoning and, the most important of all, due to his independence. The auditor is responsible in front of the stockholders having designated him.
Cuvinte cheie: external audit, international auditors, performance audit twinning
Cod JEL: M41 M42
Autor(i): Voiculescu Serban, Tataru Violeta
Rezumat: People using financial records, such as stockholders, bankers, creditors, governmental authorities and the public must be persuaded that the companyТs image, as presented, is not confusing. That is why the laws in force stipulate that the general manager has to obtain a second opinion, belonging to an expert outside the company, known as the financial auditor. The auditor does not depend on the companyТs management and does not represent a group of interests. The financial records are credible due to his expertise, education, integrity, practice of professional reasoning and, the most important of all, due to his independence. The auditor is responsible in front of the stockholders having designated him.
Cuvinte cheie: external audit, international auditors, performance audit twinning
Cod JEL: M41 M42
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Paginatie: 1527-1531
Titlul lucrarii: COST AND MANAGEMENT SYSTEMS BETWEEN COST CALCULATION AND PERFORMANCE MEASUREMENT
Autor(i): Volkan Ildiko Reka, Pete Stefan, Cardos Vasile Daniel
Rezumat: Nowadays companies are facing with intense competitive pressure. Market conditions are characterized by aggressive competition, more and more demanding customers who pose serious questions about competitive strategies and underline the importance of an efficient management information and cost system.
In order to with the current requirements, to improve internal and external communication, there is a demand for accurate, reliable and versatile information on financial, internal processes and costs. Therefore the quality of management decisions and performance measurement is tightly linked to the quality of management and cost calculation systems and performance measurement systems.
The purpose of this paper is to cover the available literature in this field and to demonstrate that new and complex cost systems and cost calculation methods represents major innovations within an organization and permits not only cost calculation and analysis but also performance measurement, strategy definition are oriented through competition and customers.
Cuvinte cheie: costs system, cost calculation methods, performance measurement, strategy
Cod JEL: D61 M41 P14
Autor(i): Volkan Ildiko Reka, Pete Stefan, Cardos Vasile Daniel
Rezumat: Nowadays companies are facing with intense competitive pressure. Market conditions are characterized by aggressive competition, more and more demanding customers who pose serious questions about competitive strategies and underline the importance of an efficient management information and cost system.
In order to with the current requirements, to improve internal and external communication, there is a demand for accurate, reliable and versatile information on financial, internal processes and costs. Therefore the quality of management decisions and performance measurement is tightly linked to the quality of management and cost calculation systems and performance measurement systems.
The purpose of this paper is to cover the available literature in this field and to demonstrate that new and complex cost systems and cost calculation methods represents major innovations within an organization and permits not only cost calculation and analysis but also performance measurement, strategy definition are oriented through competition and customers.
Cuvinte cheie: costs system, cost calculation methods, performance measurement, strategy
Cod JEL: D61 M41 P14
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Paginatie: 1532-1536
