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ISSN: 2344 - 102X
ISSN-L: 2344 - 102X
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Volume 4, Number 1, Year 2016| 1. ASPECTS RELATED TO THE BALANCE OF THE PUBLIC PENSION FUND IN ROMANIA | 
Download | | Author(s): Gheorghe Morosan | | DOI: 10.4316/EJAFB.2016.411 | | Abstract: The issue of pensions and social security system is particularly important in Romania and in the European Union. The incoherent politics conducted over time by the governing political parties made the balance of the pension funds that cover an important category of the population - the elderly, even more fragile. A series of factors not necessarily related to social policies conducted by countries have a strong impact on the sustainability of the pension system. We hereby refer to the demographic factors, the dependency ratio, the unemployment rate and the average guaranteed net salaries. Among the incoherent policies conducted by the state we mention the change of the retirement age, the disrespect of the principle of contribution and the existence of special pensions, the faulty indexing of pensions, the fight against tax evasion in the field. The result is an imbalanced pension fund and the need to cover the pension fund by other taxes and duties. This imbalance cannot exist on long term, the credibility of the system being put in danger. Thus, there would be appropriate to take emergency measures including encouraging the development of voluntary pension system, the flexibility of the labour market and not at last a demographic policy focused on increasing the birth-rate. | | Keywords: Public Pensions, State Social Security, Pension Fund, Dependency Ratio |
| 2. CREATIVE ACCOUNTING PRACTICES: AN EMPIRICAL STUDY OF INDIA |
Download | | Author(s): Madan Lal Bhasin | | DOI: 10.4316/EJAFB.2016.412 | | Abstract: Shockingly, few loopholes in the accounting standards provide enough room for use of Creative Accounting (CA) practices. Thus, CA practices do not provide a "true and fair" view of the FS, since lot of crunching of financial numbers is done, within the purview of applicable laws and prevailing accounting standards. As part of this study, a questionnaire-based survey methodology was used, 14 specific research questions were asked, and 120 questionnaires were distributed to the preparers' and users' of the company FS. Finally, 85 responses from the participants were collected and analyzed using the percentage and frequencies of respondents. The study revealed that the practice of CA is always a deliberate attempt to gain undue advantage for accountants, managers and companies. We recommend that "CA practices should be considered as a serious crime, and as such, accounting bodies, law courts and other regulatory authorities need to adopt very strict punitive measures to stop unethical CA practices." | | Keywords: Creative Accounting, Corporate Sector, India, Financial Statements, GAAP, IFRS, Corporate Governance, Forensic Accounting |
| 3. PROPER ACCOUNTING IS VITAL FOR SUSTAINABLE BUSINESS GROWTH |
Download | | Author(s): Ammar Alammar, David Kohn | | DOI: 10.4316/EJAFB.2016.413 | | Abstract: This study explains the role of accounting in business growth. In addition, this study clarifies how accounting offers support for business processes. This paper demonstrates the types of services that are performed by accounting. The research indicates how accounting information can be used in order to meet the needs of a business, make right decisions, and improve the company's profitability. This article also examines why business organization often needs a way to keep score when conducting business operations. It also seeks to find how accounting usually fits this need because it allows the company to create financial reports that enable business owners and managers to review the efficiency of operations. The conclusion of this study shows the importance of using accounting as a sophisticated financial management system for business organization's performance, growth, and expansion. | | Keywords: Accounting Services, Accounting Tools, Accounting Systems, Accounting Procedures, Accounting Information. |
| 4. THE IMPLICIT MISSION STATEMENT REGARDING FOSTERING THE INTEGRATION IN THE LABOR MARKET THROUGH ICT IN THE ECONOMIC EDUCATION INTRODUCTION |
Download | | Author(s): Doina Prodan Palade, Marius Costel Esi | | DOI: 10.4316/EJAFB.2016.414 | | Abstract: The modern world, marked by the phenomenon of globalization and the continuous change, represents a real challenge for the educational system. As the human resources are the most important creational force of value in the work process, a specific attention must be given to the mission statemenet the formal instruction process, by which the individual acquires the abilities and competencies demanded by the labor market. The success of each individual within the society is determined by his capacity to correctly and quickly understand the surrounding reality. | | Keywords: Mission Statement, Business Organization, Human Resources, Economic Educational System, Information And Communication Technology (ICT), Implicit Mission. |
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