THE FINANCIAL EQUILIBRIUM AND COMPETITIVENESS WITHIN AGRICULTURAL HOLDINGS

The paper refers to traditional methods of appreciating the financial equilibriumof the agricultural company, methods based on the study of the company’s financialstatements. As far as financial equilibrium is concerned, we consider that there’s no specificindicator to be analyzed in order to appreciate financial equilibrium due to differentperception the stakeholders have on the enterprise equilibrium. In real life we often see thesame indicator calculated differently according to the objective pursued by the analyst. Thispaper shows the calculation method of the static financial equilibrium indicators, theevolution and the factors leading to the alteration of these indicators, their financialmanagement. It also determines financial equilibrium by financing rates method and assessesfinancial equilibrium using profitableness rates for agricultural holding companies. Itconcludes with the specific factors that affect the financial equilibrium in agriculturalholdings.financial equilibrium, competitiveness, agricultural holdings, indicator

TRENDS AND CHALLENGES OF ROMANIAN BROKERAGE INSURANCE MARKET

The distribution of insurance products represents a key aspect regarding theattainment of positive results by insurers. Insurance brokers represent one of the majordistribution channels in some national markets, including Romania. The present paper aimsat highlighting the importance of insurance brokerage on the Romanian market, analyzing theevolution of brokers in quantitative terms and also grasping the main characteristics of therecent evolution of this market. Based on the official statistics, the paper emphasizes the mainmanagerial aspects that have guided and will guide the Romanian brokerage market, as wellas the challenges brokers will have to solve in order to have a positive development.insurance, brokers, distribution channels

Assessing Financial Equilibrium of the Romanian Companies Traded at Bucharest Stock Exchange

This paper presents a model of financial equilibrium analysis. The model is based on relation between net working capital, necessary of working capital and net treasury of the firm. Based on the Pearson correlation coefficient and rank Spearman correlation coefficient, we have determined the intensity of the connection between the stability level, which is an expression of long term equilibrium, and different financial indicators yearly adjusted. Its applicability on Romanian companies traded at Bucharest Stock Exchange is limited by the insufficient amount of information. The list of indicators related to stability should be completed with some more indicators, such as the added value, the expenses profitableness, the financial result and so on.net assets, net working capital, net working capital required, net treasury, financial rates, stability.

The impact of ias/ifrs on the romanian accounting rules

The accounting standardization process is in progress at international regional level, more and more countries have reached the same conclusion of enforcing high quality accounting standards like IAS/IFRS. At international level, on one hand it is thought to implement IASB's international standards and on the other hand, to converge American standards with IASB standards. There are various reasons for Romania adopting the IASB reference system, but most of them are subordinated to the central aim, respectively EU accession. There are also some secondary reasons required by the IAS/IFRS transition, which in our country is less present than in more economic developed countries. In our country accountancy is subordinated to the taxation system, financing still comes prevalent from banks and very few Romanian companies are listed on foreign capital markets. According to this, starting with 2006 the International Financial Reporting Standards (IFRS), as presented and published by the International Accounting Standards Board, shall be applied in Romania by the following categories of companies: trade companies applying OMF no. 94/2001, loan institutions, assurance and reassurance companies, institutions supervised by the National Commission for Movable Assets, independent public companies and other state owned companies, companies to be consolidated by a company applying IFRS standards, companies, which at the end of the previous year fulfilled two of the following three criteria: turnover exceeding EUR 7.3 Million, total assets over EUR 3.65 Million, average number of employees over 50, as well as other companies subject to the Finance Ministry’s approval.romanian accounting rules, IAS/IFRS, romanian accounting normalization body, capital market

AGRICULTURAL INSURANCE IN ROMANIA

Production risks, meaning weather and climate related risks, affecting agricultural activities could be managed through agricultural insurance. First, the paper presents the specific production risk in agriculture and the tools that are used to manage itrisk, insurance, agriculture, catastrophe, climate

Optimization of biosynthesis conditions and catalitic behavior evaluation of cellulase-free xylanase produced by a new Streptomyces sp. strain

Cellulase-free xylanase by Streptomyces sp.P12-137 was obtained bycultivation on the wheat bran as the sole carbon source. The effect of carbon and nitrogen sources and a ratio of them on the cellulase-free xylanase production was investigated. The new isolate Streptomyces sp. strain was able to grow in submerged system and to produce an increased level of xylanase. Wheat bran induced xylanase biosynthesis yield at a high level (9.27 UA/ml). For economical reasons cultivation was achieved on a cheap fermentative medium represented by agro-industrial wastes. The optima of the pH and temperature of the crude xylanase activity were 5.5 and 70°C,respectively

Mandatory Home Insurance In The Romanian “Centru” Region of Development

The paper analyzes the evolution of the mandatory home insurance market on the Romanian “Centru” region of development at aggregate level and on the counties level, both for rural and urban areas. The analysis discovers similarities and differences in the behavior of the persons from the area of study and bring new evidences for the factors that affect the mandatory home insurance market

The accounting profession and professionist in romania

An overview of the accounting profession’s evolution in Romania can only be a cause for reflection. As far as Romania is concerned, the accounting profession’s development rhythm followed the pace of the economic, social and political development of the country: first, formally speaking, as an association of graduates, subsequently organized as an association of public interest. The character of a liberal profession could occur whenever the market economy worked. The political and social changes of the mid-20th century generated a decrease of the economic importance of professional accounting mechanisms, as well as its position within the socialist system, especially in view of achieving accounting regulation expertise. Actually, the political events of 1989 led to a return to a period interrupted, about 50 years before. But the size and economic specificities were much different. This caused a rethinking of the accounting expert’s position, divisions in the accounting profession (Romanian Body of Experts and Chartered Accountants, Romanian Chamber of Auditors, the Chamber of Tax Consultants, etc.)

The accounting profession and professionist in romania

An overview of the accounting profession’s evolution in Romania can only be a cause for reflection. As far as Romania is concerned, the accounting profession’s development rhythm followed the pace of the economic, social and political development of the country: first, formally speaking, as an association of graduates, subsequently organized as an association of public interest. The character of a liberal profession could occur whenever the market economy worked. The political and social changes of the mid-20th century generated a decrease of the economic importance of professional accounting mechanisms, as well as its position within the socialist system, especially in view of achieving accounting regulation expertise. Actually, the political events of 1989 led to a return to a period interrupted, about 50 years before. But the size and economic specificities were much different. This caused a rethinking of the accounting expert’s position, divisions in the accounting profession (Romanian Body of Experts and Chartered Accountants, Romanian Chamber of Auditors, the Chamber of Tax Consultants, etc.)

The impact of ias/ifrs on the romanian accounting rules

The accounting standardization process is in progress at international regional level, more and more countries have reached the same conclusion of enforcing high quality accounting standards like IAS/IFRS. At international level, on one hand it is thought to implement IASB's international standards and on the other hand, to converge American standards with IASB standards. There are various reasons for Romania adopting the IASB reference system, but most of them are subordinated to the central aim, respectively EU accession. There are also some secondary reasons required by the IAS/IFRS transition, which in our country is less present than in more economic developed countries. In our country accountancy is subordinated to the taxation system, financing still comes prevalent from banks and very few Romanian companies are listed on foreign capital markets. According to this, starting with 2006 the International Financial Reporting Standards (IFRS), as presented and published by the International Accounting Standards Board, shall be applied in Romania by the following categories of companies: trade companies applying OMF no. 94/2001, loan institutions, assurance and reassurance companies, institutions supervised by the National Commission for Movable Assets, independent public companies and other state owned companies, companies to be consolidated by a company applying IFRS standards, companies, which at the end of the previous year fulfilled two of the following three criteria: turnover exceeding EUR 7.3 Million, total assets over EUR 3.65 Million, average number of employees over 50, as well as other companies subject to the Finance Ministry’s approval