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ISSN: 2344 - 102X
ISSN-L: 2344 - 102X
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Volume 10, Number 1, Year 2022
| 2. IMPORT EXPORT OPERATIONS: ACCOUNTING AND TAX ASPECTS | 
Download | | Author(s): Svetlana Mihaila, Galina Badicu, Iulian Dascalu | | DOI: 10.4316/EJAFB.2022.1011 | | Abstract: The reform in the accounting-fiscal field in the Republic of Moldova is influenced by the profound changes that are taking place in the economic sphere, under the inertia of the globalization process. In this article, we set out to examine the foreign trade situation in terms of import and export operations from an accounting and fiscal point of view. For providing the investigation, we used an approach based on observation method, document analysis and comparison of the provisions of regulations in the field of import-export operations, investigating from general to specific national legislation. For this, documentary research of the legislative and normative acts in force was carried out. The results of the research express a clear picture by highlighting the context in which foreign trade, in the current global context, plays a key role in creating and maintaining sustainable competitive advantages, but also generates some problematic issues in transactions accounting. | | Keywords: Accounting; Foreign Trade Activity; Import-export Operations; Place Of Services Delivery; Tax Liability |
| 3. BIBLIOMETRIC ANALYSIS OF SCIENTIFIC PRODUCTION REGARDING THE HARMONIZATION OF ACCOUNTING IN BRICS EMERGING ECONOMIES |
Download | | Author(s): Anatol Melega | | DOI: 10.4316/EJAFB.2022.1012 | | Abstract: The BRICS economies are one of the most influential economic and political groups in the world, being characterized by cheap labor, increased attractiveness from investors, vast natural resources and a high level of foreign direct investment flows. With the development and growth of the multinationals' number in these states, the issue of convergence and harmonization of accounting practices with the international framework of this domain has been raised in order to create a conducive environment for investors and to reduce information asymmetry. The literature contains a multitude of studies that have analyzed and evaluated the achieved level of convergence and harmonization in accounting matters in the BRICS emerging economies. Thus, in this research we aim to perform a bibliometric analysis of the scientific production whose research topic is the harmonization of accounting in BRICS emerging economies. Therefore, in order to achieve the proposed goal, the following objectives were set: O1 - analysis and evaluation of the scientific production published in the Web of Science database in the 1990-2021 period that have as topic the harmonization of accounting in BRICS emerging economies; O2 - identification of the main research niches and design of new research directions. | | Keywords: Accounting Harmonization; Bibliometric Analysis; Cluster Method; Emerging Economies; Future Research |
| 4. THE INFLUENCE OF THE DIGITAL ECONOMY DEVELOPMENT ON THE GLOBAL MUSIC INDUSTRY |
Download | | Author(s): Iurie Badicu | | DOI: 10.4316/EJAFB.2022.1013 | | Abstract: The 21st century music industry uses digital technology in a wide range of applications, including interpretation, composition, recordings and publications. This technology is constantly transforming music and the way people approach many musical activities. The value chain research of the global music industry represents the specialized analysis of the target field constituents. The investigation emphasizes the functional components and subcomponents of the global music industry, their interference and mutual influence. The author specifically addresses the production, distribution and consumption in the global music industry, treating them both theoretically - referentially, and practically - axiomatically. When presenting the study, preference was given to the descriptive method with the application of elements of comparison, analysis and deduction, as well as information sites that capitalize on the music industry. The research completes the range of sources that address the global music industry, especially the sources with reference to the pandemic, post-pandemic and forced digitization of the music industry. The author's conclusions represent a culturological update of the value chain in the global music industry. | | Keywords: Consumption; Digital Economy; Distribution; Global Music Industry; Value Chain Of The Music Industry; Production; |
| 5. THE IMPACT OF VAT IN ROMANIA AND THE COMMUNITY AREA |
Download | | Author(s): Lucia Morosan - Danila | | DOI: 10.4316/EJAFB.2022.1014 | | Abstract: The article brings to the readers the importance of the value added tax revenues in the realization of the total revenues of the state budget of Romania, carrying out an analysis for the period 2017-2020, resulting a significant percentage of 40% of VAT income from the total tax revenues. We started with the analysis of the impact of the legislative changes regarding the value added tax at national level on the workers in this field and on the economy in general, an impact which is not favorable, because this legislative instability, generates uncertainty and mistrust in the capacity of the legislative bodies to act effectively, organize and operate, in accordance with the expectations of those covered by the respective normative acts. Another aspect addressed in this article is a small, but significant comparison between the VAT rates practiced in the community space and the rates practiced in Romania, after which we can see that in our country there are no abusive VAT rates, but they are among the lowest rates in the European Union. The presentation of a series of advantages and disadvantages of this tax, observed through a personal perspective or determined by its operating system, concludes this article. | | Keywords: Community Area, Fiscal Code, Value Added Tax |
| 6. ANALYSIS ON THE CAUSALITY RELATIONSHIP BETWEEN INVESTMENTS AND THE CAPITAL'S MARGINAL COST |
Download | | Author(s): Irina Stefana - Cibotariu | | DOI: 10.4316/EJAFB.2022.1015 | | Abstract: Capital's cost is the result of two kinds of behaviours, namely the entrepreneur's behaviour, on the one hand, and the investor's behaviour. These two types of behaviours have a common background, namely maximizing the value of the business entity. The business entity itself can be considered as the very expression of the financing costs which are part of the optimization process of its financial strategy. The diversity of the investment options requires the assignment of those financial resources which are based on estimating the entity's value which refers to the conversion of the future incomes into the present turnover of the business as such. Thus, there is an occasional cost from the point of view of the investors, whereas for the users, there is an average cost involved because one needs to take into account the existence of the financial structure itself which is responsible for the existence of both the equity and the loan capital. | | Keywords: Capital Cost; Investment; Marginal Cost; Profitability, Investment Theory |
| 7. CUSTOMS REGULATORY FRAMEWORK ANALYSIS IN THE EARLY PHASES OF THE COVID-19 PANDEMIC IN TERMS OF INTERNATIONAL TRADE COOPERATION |
Download | | Author(s): Popescu Evghenii, Frumusachi Ludmila | | DOI: 10.4316/EJAFB.2022.1016 | | Abstract: To create a framework for customs administration based on international cooperation, it is necessary to apply fundamentally new technologies. Trade facilitation is especially important for many countries affected by the crisis. Amidst this global crisis, international cooperation on trade facilitation will remain essential for maintaining trade flow. Continued aid for trade will be particularly important to help developing countries implement trade facilitation measures required during the crisis. The article concludes that, in the context of global digital transformation, new opportunities are opening up for the customs regulatory framework, based on the introduction of large-scale data analysis technologies, immersive technologies, blockchain, use of innovative methods for obtaining and processing customs information (satellite tracking, radio frequency identification) and introduction of artificial intelligence technologies in customs control processes. | | Keywords: Customs Administration; Customs Rules; Customs Tariff; International Trade; COVID-19 |
| 8. THE IMPORTANCE OF RECRUITMENT IN THE DEVELOPMENT OF HUMAN RESOURCES STRATEGY AND PLANNING |
Download | | Author(s): Svetlana Mihaila, Ion Mura | | DOI: 10.4316/EJAFB.2022.1017 | | Abstract: The human resource planning strategy, or the strategies employed in hiring workers, has a significant impact on a company's future performance, because these strategies determine the quality of the recruited human resource. Employee recruitment is regarded as one of the most critical steps in personnel policy. Thus, the authors set out to conduct research using several research methods, including the analytical method, webography analysis using the search engines Web of Science and Google Scholar, the method of comparison, the method of synthesis, the method of inference, and the method of induction and deduction. | | Keywords: Human Resources; Process; Recruitment; Strategy |
| 9. SHORT ANALYSIS REGARDING THE STRUCTURAL AND COHESION FUNDS OF THE EUROPEAN UNION IN ROMANIA |
Download | | Author(s): Claudia - Elena Grigoras - Ichim | | DOI: 10.4316/EJAFB.2022.1018 | | Abstract: The Structural and Cohesion Funds support Member States in achieving a high level of development, both socially and economically, with the aim of supporting job creation, business competitiveness, growth, sustainable development and improving the quality of life of citizens. The paper presents a synthesis of the structural and cohesion programs implemented by the European Union, focusing on Romania, as one of the last states to join the European family. The empirical incursion presents the institutional framework of the European structural funds, the main financing components directed to the member states, as well as the financial instruments of the European Union in Romania. It also presents a summary of the main amounts scheduled and actually paid to and from the European Union. | | Keywords: European Funds; European Union; Structural And Cohesion Funds; Project Management |
| 10. ASSESSMENT OF THE ECONOMIC ACTIVITY OF THE ENTITY THROUGH THE PRISM OF GOODWILL AND BADWILL TOOLS |
Download | | Author(s): Iulita Birca | | DOI: 10.4316/EJAFB.2022.1019 | | Abstract: Estimating the value of an economic entity is one of the most difficult financial problems. In this context, knowing the overall value of an entity is useful for buyers, investors, and owners. The most relevant indicator in this case is the value of Goodwill (which determines the sound management and performance of the entity) and Badwill (the indicator of the entity's unfavorable situation, respectively). The purpose of the present research consists in the fundamental analysis of the theoretical aspects with reference to the evaluation of the economic entity in terms of the Goodwill and Badwill instruments. The objectives of the research include: identifying the notions of Goodwill (positive and negative), presented by the scientists in the field and the specialized literature; defining the concepts and aspects of the Goodwill and Badwill instruments, identifying the methods of evaluating the economic entity with the help of the Goodwill tool, as well as establishing its place and role in the economic activity of the entity. The results obtained can serve as recommendations for managers in economic entities to understand and accept the need to estimate the overall value of the economic entity not only in the case of purchase-sale, but also to take remedial action in situations of uncertainty and risk. | | Keywords: Badwill; Economic Entity; Goodwill; Valuation; Overall Value |
| 11. ACCOUNTING TRUTH OR THE EXTENT TO WHICH FINANCIAL INDICATORS PROVIDE AN ACCURATE REPRESENTATION. A QUANTITATIVE ANALYSIS |
Download | | Author(s): Vlad Bulau | | DOI: 10.4316/EJAFB.2022.10110 | | Abstract: Financial indicators are used for analysing and determining the financial position and the performance of a company. Most financial ratios rely on the accounting information within financial statements; many are calculated based on the accounts statement and profit and loss account. A company's financial statements are of interest to many people (managers, investors, and creditors, as well as providers, employees, trading partners, or public institutions). Financial analysis may acquire various forms, depending on the interest of each interested party. The utility of the indicators featured below relies on the need to have post-fact, present, and forecasting knowledge regarding the economic activity of an enterprise. | | Keywords: Accounting; Financial Analysis; Accounting Truth; Indicators; Liquidity; Solvency |
| 12. IMPROVING THE PERFORMANCE OF SMALL AND MEDIUM-SIZED ENTERPRISES BY IMPLEMENTING MANAGEMENT ACCOUNTING PRACTICES |
Download | | Author(s): Camelia - Catalina Mihalciuc | | DOI: 10.4316/EJAFB.2022.10111 | | Abstract: The general system of managerial accounting is now obsolete because the information generated by the system arrives too late or too distorted to be relevant in making management planning and control decisions, in addition, the system is based on simplistic and arbitrary methods and not manages to reflect the exact costs of the product. Businesses use as tools in obtaining useful information throughout the technological processes management accounting techniques that include both financial and non-financial information. In the approach, the main objective is to see what is the impact of different practices specific to managerial accounting (MAPs) in assessing the performance of small and medium enterprises operating in the manufacturing industry. | | Keywords: Costs; Cost Calculation; Management Accounting; Decision Making; Management Accounting Practices (MAPs) |
| 13. SIMILARITIES AND DIFFERENCES BETWEEN THE FISCAL PRESSURE IN ROMANIA AND THAT IN FRANCE |
Download | | Author(s): Mihaela Tulvinschi | | DOI: 10.4316/EJAFB.2022.10112 | | Abstract: The determining factor of the taxpayer's behavior is represented by the fiscal pressure, calculated in the specialized literature as the ratio between the tax revenues obtained in a certain period of time and the gross domestic product of the same period. The purpose of the research is to carry out a comparative study on the fiscal pressure in Romania and France. This goal can be achieved by fulfilling the following proposed objectives: O1: carrying out a meta-analysis of the specialized literature to identify research trends regarding fiscal pressure; O2: analysis of fiscal pressure in Romania, in the period 2017-2021; O3: carrying out a comparison between the fiscal pressure in Romania and the fiscal pressure in France, in the period 2017-2021. By referring to the average of the fiscal pressure in the European Union, it is found that Romania is below the average, while France is above the average during the five years analyzed. | | Keywords: Taxes; Fees; Social Contributions; Fiscal Pressure |
| 14. THE ROLE OF THE SOCIAL DIMENSION OF THE FINANCIAL AUDIT IN THE SUSTAINABLE DEVELOPMENT OF ORGANIZATIONS |
Download | | Author(s): Camelia - Catalina Mihalciuc, Maria Grosu | | DOI: 10.4316/EJAFB.2022.10114 | | Abstract: To ensure social sustainability, social aspects represent the key objective through ethical and fair corporate practices, this aspect has influenced research from various fields, such as accounting, auditing, finance and management,. Ensuring the sustainable performance of an organization is not only related to financial performance, but also aims at the social and environmental dimension, systematically framed in the concept of global performance, which involves access to resources for exploitation, redistribution in order to obtain cash flows to eliminate potential risks and in order to achieve the objectives. In this context, the main objective of the paper is the analysis of the literature review regarding the contribution of the financial audit to the sustainable development of organizations through social dimension. | | Keywords: Financial Audit; Financial And Non Financial Reporting, Social Dimension, Social Sustainability |
| 15. ANALYSIS OF THE ECONOMIC PERFORMANCE AND SUSTAINABILITY OF BUSINESSES OPERATING IN ELECTRICITY PRODUCTION AND DISTRIBUTION INDUSTRY |
Download | | Author(s): Veronica Grosu, Ioana Andrioaia, Iulian Dascalu | | DOI: 10.4316/EJAFB.2022.10113 | | Abstract: Recently, the concept of energy independence has attracted the attention of researchers during the last few years. The majority of EU member countries are dependent on imported energy, which is not a favorable aspect in the current context of the energy crisis and the Russian-Ukrainian conflict. In addition, it is also necessary to find solutions for sustainable development and to address the environmental impact of fossil fuel. Thus, to contribute to the efforts to move towards a sustainable economy the aim of the research is focused on the analysis of financial performance and economic sustainability indicators of businesses operating in the field of electricity producers as well as electricity distributors. To achieve the proposed aim, the following objectives are pursued in this paper: O1 - Analyze the operational electricity market in Romania and its participants; O2 - Review the scientific literature on the economic performance and sustainability of electricity producers and distributors; O3 - Develop econometric models that can describe the influence of financial ratios on the financial performance and economic sustainability of energy businesses. The results helped in the development of an econometric model that reveals which economic indicators have a significant influence on the performance and sustainability of businesses based on the production and distribution of electricity. | | Keywords: Economic Performance; Electricity; Energy Crisis; Sustainability |
| 16. ENVISIONING THE ENERGY END-USER PROFILE IN THE CURRENT CONTEXT OF OVERLAPPING CRISES |
Download | | Author(s): Anamaria - Geanina Macovei, Ioana Andrioaia | | DOI: 10.4316/EJAFB.2022.10115 | | Abstract: According to the European Parliament, the EU is facing a major energy crisis, triggered on one hand by a shortage of natural gas and on the other by the explosive rise in energy prices. Therefore, the aim of this paper is to identify end-user energy consumer requirements and views on energy from renewable energy sources (RES-E) and to analyze the factors influencing RES-E investment. To achieve the proposed aim, the following objectives have been formulated: Objective 1 - To review the literature on renewable energy investments; Objective 2 - To establish the implications of the Russian-Ukrainian conflict on the energy sector activity; Objective 3 - to assess the contribution of green certificates (GCs) in stimulating green energy production; Objective 4 - To identify the end-consumer perspective on the transition from conventional to renewable energy sources. The research methodology is based on the questionnaire method, which has been applied to a number of 107 individuals and 31 legal entities who were questioned on pressing issues, such as the current energy crisis and its perceived economic and social effects. The results of this research materialized in the construction of a final consumer profile (by category of consumer) of electricity from renewable sources. The importance of the results obtained is of real use to national governments, but also to other decision-makers in the energy industry, as the end-consumer profile can warn them of possible social, economic and political conflicts, depending on the dissatisfaction expressed. | | Keywords: Energy; Final Consumer; Political Crisis; Renewable Energy; Social And Economic Effects |
| 17. PROBLEMATIC ISSUES RELATING TO THE EVALUATION OF PRODUCTION IN PROGRESS |
Download | | Author(s): Rodica Cusmaunsa, Iuliana Tugulschi | | DOI: 10.4316/EJAFB.2022.10116 | | Abstract: In the present article, the authors examined some problematic issues regarding the evaluation of the production in progress. By using research methods, such as those of analysis and deduction, there were also studied the viewpoints of local scientists, which allowed for the formulation of stronger conclusions and recommendations on solving the problem of determining the most relevant evaluation method of the production in progress. | | Keywords: Evaluation, Production In Progress; Inventory Method (direct Method); Accounting Method (indirect Method) |
| 18. AUDIT PROFESSIONAL COMPETENCE REQUIREMENTS |
Download | | Author(s): Sergiu Soimu, Svetlana Mihaila, Galina Badicu | | DOI: 10.4316/EJAFB.2022.10117 | | Abstract: The global crisis, in which the financial scandals have intensified, has drawn attention towards the professional competence in the audit activty that directly influences its quality and without which the audit process is meaningless. The paper aims to identify the requirements for the development and maintenance of professional competence in auditing, which promotes an increase in the quality of auditing and also the growth of the confidence in the financial statements from the perspective of their users. In the presentation of the material, preference was given to the application of the elements of comparison, analysis and deduction. As an indirect research technique, the analysis of the international framework provisions regarding the field of audit was used and in order to identify the performance of the scientific research at international level, according to various selection criteria, the Web of Science search engine was used. The research results can be used both in the practice of the entities and for teaching purposes. | | Keywords: Professional Competence In Audit; Quality In Audit; International Education Standards; Continuous Professional Development; Quality Management System |
| 19. SMART WORKING: MUCH MORE THAN TELEWORK |
Download | | Author(s): Cristina Gabriela Cosmulese | | DOI: 10.4316/EJAFB.2022.10118 | | Abstract: Digital transformation is a radical change that involves integrating technology and digitalization models into all aspects of business, leading to substantial changes in corporate culture - the way companies and their employees operate. The paper aims to analyse the phenomenon of Smart Working and digital transformation from the perspective of technologies that have enabled employees to continue working remotely during Covid-19. In order to achieve this goal, the following objectives have been defined: 1) to present the topic of digital transformation, with a particular focus on the new technologies that enable this revolution, such as Big Data and Analytics, Cloud Computing, cybersecurity or the Industrial Internet of Things; 2) to explain how digital transformation leads to the transformation of the world of work through the introduction in companies of the technologies mentioned in the first objective; 3) to analyze the concept of Smart Working, differentiating it in particular from the closely related notions of flexible working, remote working and teleworking. | | Keywords: Digital Transformation; Smart Working; Big Data; Cloud Computing; External Drivers |
| 20. THE QUALITY OF THE AUDIT |
Download | | Author(s): Elena Hlaciuc | | DOI: 10.4316/EJAFB.2022.10119 | | Abstract: The purpose of this work is to analyze the importance of audit quality and financial statements, a subject that has become a subject of debate in the academic environment, accounting experts and auditors. There are a multitude of economic entities that currently use financial information within the company, so the veracity and reality of this information has become vital. In this context, the audit must be adequate, so as not to use random methods on some work documents of each individual task, but will consider unique tasks, as a basis to check relevant aspects as well for quality control purposes. In this work, the methods by which "the quality of the audit can be improved" 1are analyzed, or the situations and factors that should be eliminated if they threaten the quality of the audit are identified. | | Keywords: Audit; Quality Criteria; Quality Of The Audit; Quality Of Financial Reports. |
| 21. STAKEHOLDERS THEORY VERSUS AGENCY THEORY |
Download | | Author(s): Ana - Maria Bores | | DOI: 10.4316/EJAFB.2022.10120 | | Abstract: The objective of this work is to highlight the main aspects of the users of financial and accounting information, as well as their importance in making decisions in the entity. In this sense, a thorough analysis of each user and the interests they hold will be carried out. Thus, qualitative financial reporting has a favorable impact on entities and helps users to adopt correct decisions. | | Keywords: Stakeholders Theory; Interests; Informational Quality; Economic Entity; Decisions |
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