EUROPEAN JOURNAL OF ACCOUNTING, FINANCE & BUSINESS

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ISSN: 2344 - 102X

ISSN-L: 2344 - 102X



 

Content of Issue 21, Year 2019

1. REFLECTIONS ON THE NECESSITY OF ESTABLISHING PROVISIONS TO REDUCE THE RISKS OF THE ENTERPRISE - EDITORIAL
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Author(s): Veronica Grosu
Topic: Editorial
Abstract: -
Keywords: -

2. SUSTAINABILITY OF FINANCIAL INTERMEDIATION - THE MAIN CHALLENGE OF THE BANKING FINANCIAL SYSTEM IN ROMANIA
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Author(s): Anisoara Niculina Apetri
Topic: Finance
Abstract: The main objective of the financial system in an economy is to ensure long-term economic growth through the efficient financing of the economy. Thus the purpose of this research is to analyze and evaluate the level of financial intermediation at the level of the financial-banking system in Romania in the post-crisis period. The objectives set to be achieved through this research refer to identifying the level of the degree of financial intermediation and formulating measures to improve it. In order to achieve these objectives, we have used a series of statistical methods of centralization and graphical representation of the data regarding the evolution of credit granted to the private sector and GDP, data available on the National Bank of Romania's website. The conclusions of the study highlight a low level of financial intermediation in Romania and propose a set of measures to improve its level.
Keywords: Financial-banking Sector; Financial Intermediation; Non-performing Loans (NPL); Sustainability Of Financial Intermediation

3. THE CHALLENGES OF INTERNAL AUDIT, BETWEEN TECHNOLOGICAL DEVELOPMENT AND NEW SKILLS
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Author(s): Cristina Gabriela Cosmulese, Mihaela - Ionela Socoliuc
Topic: General Accounting
Abstract: Over time, the evolution of the expectations of the stakeholders has constantly changed the perspective on the role of internal audit. Given the speed of technological change and globalization of markets, the internal audit function needs to evolve to help the organization understand and manage the associated risks, achieve the expected results from automation, and continue to innovate to achieve added value. The central place that the internal audit occupies within the organization is the result of a professional, objective work, raised at the level of the requirements and standards, as well as at the level of the constantly moving economic environment. In this paper we want to emphasize that a good mastery of computer techniques and innovations, as well as a permanent updating of the changes brought by the regulations in the field, can only bring a higher quality of the services offered by the internal audit, by well fundamental opinions and solid proposals. Thus, the pursuit of this profession would not be possible without the existence of the benchmarks represented by norms, directives, policies and standards, all together making up the complete set of tools with which a true auditor will begin the journey on the missions successfully and operationally accomplished. The main objective of this article is to make a short incursion of the concept and importance of internal auditing and reviewing the requirements of the new EN ISO 19011: 2018 standard.
Keywords: Internal Audit; Challenges; Digital Revolution; New Skills; ISO 19011: 2018.

4. SHORT FORWARD IN THE EVOLUTION OF THE CORPORATE SOCIAL RESPONSABILITY CONCEPT
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Author(s): Camelia Catalina Mihalciuc, Denisa Sebastiana Iftinchi
Topic: General Accounting
Abstract: The intensification of the globalization process in the last decades and, implicitly, the alert development, determines the emergence of a new player on the world market: corporations. In this context, the dominance and influence of the modern corporation is present in all areas. CSR (corporate social responsibility) is a widespread phenomenon nowadays, being an integral part of the corporate strategy of a corporation. The motivation behind choosing this theme is the fact that the phenomenon of corporate social responsibility is a topical one, being mentioned in books, magazines, and websites and increasingly used by corporations, constituting one of the elements that condition their success and placement in the top, gaining consumer loyalty and admiration. Thinking like this, the present paper intends to analyze the evolution of CSR from a theoretical point of view and, in the last part of the paper, wewill emphasize some aspects of the CSR in Romania.
Keywords: Sustainability Development; Sustainability Reports; Ethical Behavior; The Pyramid Of Corporate Social Responsibility; Corporate Social Responsibility

5. THE ACCOUNTING PROFESSION IN THE DIGITAL ERA
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Author(s): Marius - Sorin Ciubotariu
Topic: General Accounting
Abstract: In an economy based on globalization and digitalization, accounting professionals have understood that performance and competitiveness are conditioned by the way in which new information technologies are implemented and exploited within companies. The accounting profession in Romania has a future only insofar as it truly responds to the challenges and opportunities generated by the digital revolution. The objective of this article is to bring into discussion a number of issues regarding the accounting profession in an economy based on globalization and digitalization.
Keywords: The Professional Accountin; Digital Era; Globalization; New Tasks

6. CONSIDERATIONS REGARDING THE ACCOUNTING CHALLENGES DERIVED FROM THE APPLICATION OF THE ACCOUNTING POLICIES PROVIDED IN IAS 41
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Author(s): Veronica Grosu, Mihaela - Ionela Socoliuc
Topic: General Accounting
Abstract: In recent decades, there has been an increasing interest for the agricultural sector worldwide due to a multitude of factors such as: commodity market instability and rising food prices, population growth, environmental constraints on food production and the consequences of climate change. The society is aware on a day to day basis that nutrition, and especially its quality, plays an essential role in maintaining vitality and health. Because we live in a consumer society, managerial decisions and investments must be directed towards the development of high agriculture at the level of European and international requirements, but at the same time there is also the effort to preserve the culture, nature and naturalness of this sector according to each countryThese aspects, in today's reality, have given agriculture a strategic role on issues of vital importance for the development of society and the world economy. The significance of the agricultural field extends beyond the investment itself, thus the role of accounting according to international reporting standards, receives a particular note in this sector of activity, the authors pointing precisely to the fundamental accounting specifications that an accounting professional must know in relation to this subject. Therefore, the purpose of this article is to present the reflection in accounting of specific operations in the agricultural field, by using a practical example - an accounting monograph of a company with agricultural activity, more specifically in the fruit growing sector.
Keywords: Accounting Policies, IAS 41, Fair Value, Evaluating.

7. CONCEPTS OF IDENTIFYING AND EVALUATING FINANCIAL ASSETS
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Author(s): Viorel Turcanu, Marcela Focsa
Topic: General Accounting
Abstract: In the composition of the assets of the contemporary entities, an important place belongs to the free assets of their main activity. These elements, according to one concept, are recognized and presented in the balance sheet as financial investments, and according to another concept - as financial assets. The mission of the authors of this paper was the analysis of these concepts, the treatment of financial instruments by International Financial Reporting Standards (IFRS) and the European Directive 2013/34/EU, the argumentation of priorities and deficiencies, which concern the respective information in the financial statements. At the same time, the connection of the concepts of identifying the financial assets with the accounting systems and the financial reporting based on the information from the balance sheets of some countries are certified. The results of the investigations concerned can serve as a direction to improve the way of identifying, evaluating and presenting information on financial assets.
Keywords: Financial Assets, Financial Investments, Financial Instruments, Recognition, Accounting, Evaluation.

8. IDENTIFICATION AND ASSESSMENT OF THE FINANCIAL RISK WITHIN THE FRAMEWORK OF ECONOMIC ENTITIES
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Author(s): Camelia Catalina Mihalciuc
Topic: General Accounting
Abstract: The risk represents a challenge for any economic entity, because it cannot be totally canceled, and it is assumed differently depending on the different attitude towards the danger. Regarding the financial risk, it implies the way in which the profitability of the own capital changes under the influence of the financial structure of an economic entity. Thus, for a risk to be considered financial in nature, it must include the following elements: the economic entity exposed to a potential loss, the factors that cause a financial loss and a source of risk. In the methodological approach of the present paper the radiography, the determination and the analysis of the financial risk were considered, the analysis of the way of determining this risk being realized through the global profitability threshold and subsequently based on the financial leverage effect, for two economic entities Alfa and Beta , which operates in the same geographical area, having the same object of activity.
Keywords: Financial Risk, Global Breakeven, Financial Leverage Coefficient, Economic Profitability, Financial Profitability, Coefficient Of Economic Leverage, Coefficient Of Total Leverage.

9. ACCOUNTING INSTRUMENTS USED IN DECISION ANALYSIS
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Author(s): Florin Boghean
Topic: General Accounting
Abstract: The research carried out in this article is a Behavioral Accounting Research, based on the following approach: How do individuals react to various issues in the field of accounting? The main purpose of this type of research is to describe the current decision-making behavior, to evaluate the quality of this process, as well as to develop and test theories in the sphere of psychological processes, which determine the behavior. Therefore, the content of this article will be based on the deductive approach, starting from theory to practice, with some research trends designed to verify the extent to which certain theoretical aspects mentioned above are confirmed by the practice in the field.
Keywords: Accounting, Decisional Process, Risk Management.

10. GROWTH OF SUSTAINABLE ECONOMY BASED ON IMPORTS OF GOODS AND SERVICES IN ROMANIA
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Author(s): Anamaria - Geanina Macovei
Topic: Math
Abstract: In this paper, is analyzed the influence of the import of goods and services on the gross domestic product for the period 1995-2018. The analyzed period of 24 years contains a critical period for the Romanian economy, in which the global economic crisis and the financial recession were felt. For analysis, the quadratic model is proposed, where a maximum point is obtained for the value of the import of goods and services and of the gross domestic product. So according to the model, if Romania's government policy is to increase the IMP then the GDP will decrease. Under these conditions, policies to promote imports as a strategy for developing a sustainable economy should be finished and the national economy, as well as exports, should be promoted and supported.
Keywords: Import, Gross Domestic Product, Cubic Quadratic.

11. SHORT REVIEW ON THE PROCESS OF REPORTING ANNUAL FINANCIAL STATEMENTS IN ACCORDANCE WITH THE ACCOUNTING REGULATIONS IN ROMANIA
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Author(s): Elena Hlaciuc
Topic: General Accounting
Abstract: The annual financial statements represent the final result of the efforts made by professional accountants, in order to provide a more reliable image of the entity, an image based on transparency, objectivity and professionalism. The preparation of these financial statements, as well as the full organization of a company's accounts, could not be possible without the existence of benchmarks, benchmarks materialized in the form of regulations and orders in national law, as well as in the form of European directives and international reporting standards. The purpose of this paper is to emphasize the need to comply with accounting regulations in maintaining a professional reasoning based on ethics and moral conduct, but also to highlight the role of quality accounting information in decision-making by users of accounting data. In this sense, I will present the legal provisions of the financial statements in Romania, but also the criteria according to which the economic entities are classified, a classification that highlights the elements that form the complete set of annual financial statements.
Keywords: Annual Financial Statements, Legislative Regulations, Categories Of Entities, Users Of Accounting Information

12. THE CONTRIBUTION OF DISCLOSURE OF NON-FINANCIAL INFORMATION TO THE INCREASE OF THE QUALITY OF ECONOMIC-FINANCIAL COMMUNICATION
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Author(s): Cristina Gabriela Cosmulese
Topic: General Accounting
Abstract: In the current context, corporate responsibility and transparency have gained great importance to meet the information needs of various stakeholders. Thus, non-financial reporting is becoming more and more an integral element of the strategic and financial information needed to evaluate a company and to understand its future prospects. The purpose of this article is to explore and identify the difficulties and limitations encountered in the process of economic-financial communication, when faced with the lack of information considered useful for certain stakeholders.
Keywords: Disclosure; Economic-financial Communication; Voluntary Communication; Non-financial Information

13. RENEWABLE ENERGY - A KEY FACTOR FOR A SUSTAINABLE FUTURE
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Author(s): Marius - Sorin Ciubotariu
Topic: General Accounting
Abstract: The aim of the article is to analyze and present from an economic and technological point of view how the entities in the energy sector, from renewable sources, end up producing electricity, energy so vital for all mankind. In order to achieve this objective, I will consider the presentation of the impact that renewable energy has on the national economy, focusing on the jobs it offers, and aspects related to the evolution of energy from renewable sources in the coming years.
Keywords: Renewable Energy; European Directives; Current Stage And Perspectives; The Share Of Jobs

 
     
     
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