Proceedings of the Conference on Emerging Economic Issues in a Globalizing World

To evaluate the financial condition and performance of a company the financial analyst needs certain yardsticks. The yardstick frequently used is a ratio, or index relating two pieces of financial data to each other. When comparing changes in the business's ratios from period to period, you can pinpoint improvements in performance or developing problem areas. By comparing the ratios to those in other businesses, you can see possibilities for improvement in key areas. This paper focus on the main financial ratio calculated for the activity’s entities referring to average levels registered for Romanian’ entities in comparison with average level registered in Europe and generally, in the world.Romania, financial ratios, liquidity ratios

La ecología del olmo en Rumanía

The resistance of indigenous elm species to Dutch Elm Disease (DED) has been studied since 1991 with emphasis on natural forests. The situation varies with altitude, local conditions, species and with stand origin. The variability in morphological characteristics is important and some varieties are described. The taxonomy of elms in Romania, as in the whole of Europe, seems to be confusing (Ulmus ambigua was described in 1952 by Beldie in Flora of Romania). Natural hybrids between field elm and mountain elm were observed both in natural and artificial stands, especially in border zones for the altitudinal distribution of the species. Seedlings from the natural provenances and open pollinated seedlings from hybrids produced in the Dutch breeding programme were artificially inoculated with Ophiostoma ulmi- Buism.. Most of the seedlings died, but results show an important number of surviving individuals from natural provenances. In some natural and artificial stands, it was observed that beside transmission of the disease by insects (Scolytus spp.), it was spread through root sprouts especially in field elms, from the dead «mother tree» within a few years, as well as by root grafts to proximal healthy trees («biogroups»). Because of the genetic incompatibility of individuals in some cases, the grafting cannot succeed and neither can infection. In the natural forest where the ecosystem is in equilibrium and functions normally, DED is present but its damages are not so important. The study of elms in natural forests provides valuable information for the problems caused by DED.La resistencia a la grafiosis de las especies nativas de olmo ha sido estudiada desde 1991, haciendo especial énfasis en los bosques naturales. La situación varía con la altitud, las condiciones locales, las especies y el origen de la población. La variabilidad morfológica es grande, habiéndose descrito algunas variedades. La taxonomía de los olmos de Rumanía, como en el conjunto de Europa, es confusa (Ulmus ambigua fue descrito en 1952 por Beldie en Flora of Romania). Se ha observado la existencia de híbridos naturales entre el olmo campestre y el olmo de montaña, tanto en rodales naturales como en artificiales, sobre todo en la franja altitudinal de contacto entre ambas especies. Se ha inoculado artificialmente con Ophiostoma ulmi Buism. Una serie de brinzales de origen natural y de polinización abierta de híbridos procedentes del programa holandés de mejora genética. Aunque la mayor parte de los brinzales murió, los resultados muestran que hubo un número importante de ejemplares supervivientes de origen natural. En algunos rodales, tanto naturales como artificiales, se observó que, además de la trasmisión de la enfermedad por insectos (Scolytus spp.), hubo también, especialmente en olmo campestre, transmisión a través de rebrote de raíz, a los pocos años de la muerte del «árbol madre», así como por injerto de raíz con árboles próximos sanos («biogrupos»). Debido a la presencia en algunos casos de incompatibilidad genética de los individuos, el injerto no tiene éxito ni causa infección. En bosques naturales con el ecosiostema en equilibrio y que funcionan de una forma normal, la grafiosis está presente pero sus daños son poco importantes. El estudio de los olmos en bosques naturales proporciona información valiosa sobre los problemas causados por la grafiosis

Assessing bankruptcy risk for Romanian metallurgical companies

In this paper it propose to evaluate the bankruptcy risk of the companies which operate within the Romanian metallurgy industry, over the period 2001-2012, highlighting the impact of financial crisis on this sector. The bankruptcy risk assessing by Altman Model gives us a pessimistic view of the Romanian metallurgical industry. A little more optimistic perspective on the risk of bankruptcy in Romanian metallurgy is provided by the Conan Holder Model according to which the best two Romanian metallurgical companies traded at BSE (ALR and ART) face a low risk of bankruptcy. According to this model the financial crisis seems to have affected the first two Romanian metallurgical companies only in 2009, then in the following years the bankruptcy risk degrease, achieving satisfactory levels

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

Proceedings of the Conference on Emerging Economic Issues in a Globalizing World

banking efficiency, Romania

The role of cash flow in the financial management of the entity

In the present the authors show the modalities of analysis the cash – flow statement, based on an specific indicators system.cash - flow, net profit ratio, cash – flow productivity

AITRANS – Web Application for Training and Testing Operative Personnel in High Voltage Power Substations

AbstractThis paper presents the web application – AITRANS – used for the periodic training and testing of operative staff in high voltage substations of the Timisoara Branch of Transelectrica, the Romanian Power Transmission System Operator. According to legislation in Romania, operative staff of the Transmission System Operator (TSO) must accomplish a given number of hours of training every semester where they will be familiarized with new and/or modified procedures and the legislation used in the operation of high voltage power system substations. After these training sessions, each person must take a test to ensure proper assimilation of the new information. To optimize the training and evaluation process, a web application was developed. With a user name and password (for user level), each member of the operative staff can log in and study the materials at any time, and also self-assess their knowledge by taking several tests. The administrator can remotely observe the training status of each person, and will also generate a final test at the end of the training period. Using the web application instead of the traditional method of training and testing proved to be very effective. The feedback from staff was positive

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