DRAWING UP THE FINANCIAL BUDGET IN THE CASE OF A PUBLIC TRANSPORTATION COMPANY

The drawing up of the companies’ budget represents one of the mostimportant instruments through which is accomplished an efficieny management, theevaluation of companies’ performances and personnel motivatio. Public localtransportation companies usually use budgets as comparison benchmarks for theperformances they obtain in their current activity. These bidgets represent anessential part in the unfolding of each company’s activity. This paper presents thedrawing up of the financial budgets with a public local transportation company,referring to the drawing up of purchase budgets, investments budgets and cash flowsbudgets.financial management, budget, financial budget, profit center

THE "NEW ECONOMY" AND THE ENTREPRENEUR: REASSESSMENT AND PERSPECTIVES IN THE CONTEXT OF XXI CENTURY

Industrial revolutions, the progress in IT industry, the growth rate of developing new technologies, global competition, liberalization of markets, continue to demand change, globalization of market, economic and financial crisis are just some of the causes that have contributed to the restoration of a new global economic with direct impact on business entrepreneur. Changes socio-economic level paradigm is reflected both in changes to management and organization paradigms enterprise activity in the product market, at work, at the performance that follows the entrepreneur. In this article we tried a summary of mutations in these paradigms, mutations that will rearrange and reposition the business entrepreneur in the current context of a sustainable economy, based on knowledge, so-called \"new economy\"."new economy", sustainable development, entreprise, paradigms, changes, global performance

MODERN APPROACHES REGARDING THE ASSESSMENT OF THE COMPANY’S OVERALL PERFORMANCES

The importance of this research can be supported by ambitious goals that are attributed to performance measurement / assessment of a company such as: improving company performance, optimization of company’s management and motivating staff. In the current context of sustainable development, the performance definition, measurement and maximizing system of companies becomes a complex one. The modern business environment demands a multi-goal orientation. Profit theory is no longer a valid measure of organizational performance and neither are other approaches that only take the interests of shareholders (owners) of a company into account. Today’s business environment is characterized by the increasing importance and strength of various stakeholder groups. This paper captures the current mutations brought on the line of developing a modern system of assessment of company’s performance.sustainable development, global performance, financial indicators, non-financial indicators

Romanian country risk in the context of the adherence to the European Union

The main aim of this paper is to analyse all possible characteristics related to the country risk factor for the state of Romania. The country risk factor is a measure of a risk related to economic, political, physical and other unforeseen events able to affect the stability of the financial sector in a certain country with immediate results in the profitability index of the multinational companies operated in the country especially banks. Nowadays, in the context of a very high rhythm of economic globalization and of international investor’s expansion in multinational companies, the country risk factor is very important. The paper tries to assess the Romanian country risk factor especially after the year 2007, when Romania has became a member of the European Union. Some comparisons between its country risk factor and that of the other new member states will be also made in an attempt to find out the relative position of Romania with respect to the other nations joined the European Union recently. A valid analysis of the business environment will be also presented as it is consider as a key element for the enterprises in order to be aware of the direction they are heading and contributes to improve the favorable factors they should develop to come out with the competitive advantage. The SWOT analysis will be used to emphasize the strengths, the weaknesses, the opportunities and the drawbacks of the Romanian business environment and their mode to influence the country risk factor of the state of Romania.peer-reviewe

PERFORMANCE - AN EVOLVING CONCEPT

The concept of performance is a problematic concept and will remain so as long as the definition of company performance varies depending on the interests of users of information. On this consideration, no consensus was reached regarding the definition, methodology and performance models used. Defining this concept is realized in accordance with its objectives of users of information, while the methodology and models used are influenced by legal regulations and management policies. The approach found in this article is motivated by the fact that research of performance must be placed in the current environment and any entity primarily aims to add value. The ultimate purpose of any economic activity urges performance study.economic performance, global performance, sustainable development,competitiveness, efficiency, effectiveness

THE IMPACT OF ECONOMIC CRISIS ON THE FISCAL REVENUES

This paper tries to evaluate the situation of the fiscal revenues in Romania in the context of economic and financial crisis, because the fiscal revenues are the major source of financing the public expenditure. The evolution of the level of fiscal revenufiscal revenues, budget deficit, public debt

The impact of economic crisis on the fiscal revenues

This paper tries to evaluate the situation of the fiscal revenues in Romania in the context of economic and financial crisis, because the fiscal revenues are the major source of financing the public expenditure. The evolution of the level of fiscal revenue is very important because maintain the budget equilibrium. The article reveals the major trends of the fiscal revenues after EU enlargement and in the actual context of economic crisis and the impact on the budget deficit and the public debt. The state intervention in revive of the economy has to be financed through the budget, and this means a higher budget deficit. The proper solution in this condition for assuring the financial stability of the economy it was an external borrow from IMF.fiscal revenues, budget deficit, public debt

Financial crisis and accounting information : the need for corporate social responsibility in accounting profession

This paper wants to draw attention on several aspects regarding the causes that led to the emergence of 21st century economic crisis, pointing their implications in the balance of economic-financial mechanisms. In history, on the occasion of economic and/or financial crisis, among their causes there are mentioned causes related to managers’ irresponsible actions, managers who, together with accounting professionals, chose to alter accounting data in order to create a more appealing image on the market of the company’s financial status. We will underline the role of accounting in system of a more efficient, socially responsible corporatist governing, capable of recreating economic-financial balances and of regaining the confidence of the population in economic values, as well as the role of accounting in “faithfully” reflecting these values.peer-reviewe

THE IMPACT OF FISCAL DETERMINANTS ON INVESTMENTS IN EUROPEAN UNION COUNTRIES. A PANEL DATA ANALYSIS

Taxation plays an important role in investment decisions and on net profit. In this view, this paper examines the fiscal determinants of investments realized by non-financial corporations in European Union (EU) countries. More exactly, the influences of profit tax and other important taxes like consumption and labor tax on the rate of investment are analysed. For this purpose, we use a panel analysis for 28 Member States from 2008 to 2018. In the presence of variables cointegration, we apply the fully modified ordinary least square (FMOLS) for investigating the long-run impact of taxation. Our results show a negative influence of the profit tax and a positive influence of consumption tax on the investment expansion. In addition, we find that the profit tax rate decreased after 2008 representing one of the most important fiscal measure adopted by the majority of EU Member States in order to stimulate the investment increase. The results are important for the governments, corporate governance of the companies and the investors, in order to understand the efficiency of their decisions to recover after a crisis

THE IMPACT OF ECONOMIC CRISIS ON THE FISCAL REVENUES

This paper tries to evaluate the situation of the fiscal revenues in Romania in the context of economic and financial crisis, because the fiscal revenues are the major source of financing the public expenditure. The evolution of the level of fiscal reven