CHANGE – E-BUSINESS – THE MAJOR FACTORS FOR ADVANCED COMPETITIVE IN ROMANIAN TRAVEL AGENCIES

The Internet and e-business adoption are the most important issues of this century for travel agencies. Although, the Internet provides many opportunities to do business; therefore, in the near future the Romania travel agencies may lose their competitiveness. Redesigning the business processes of travel agencies to adapt them to e-business environment is aimed in this study. The present system is going to be analyzed and redesigned to make them able to utilize from technology efficiently.e-business, travel agencies, e-commerce

ACCOUNTING CONVERGENCE ON ECONOMIC CRISIS

If normalization accounting is the process of harmonizing the presentation of financial statements, accounting methods and terminology, accounting convergence is the process by which accounting standards are developed in a way that is able to lead to the same fact or purpose, by highlighting the similarity of national - regional - international. This paper put in light the importance of the normalization and harmonization process, what it's done in and what we have to do for that in Romania.accounting, globalization, convergence

ROMANIA AND THE KNOWLEDGE-BASED ECONOMY: INNOVATION THE SOURCE OF ECONOMIC GROWTH

The is already a vast literature on the role of knowledge in economic growth butthere is need to clarify the meaning and scope of this term and define the Romanianperspective on the relationship between knowledge-based economy and growth. This paper focuses on innovation systems in Romania as the key challenge and meanfor embracing growth based on knowledge-based economy.innovation, economic growth, knowledge

The Critical Aspect on Using Fair Value for Financial Instruments

The variety of the book-keeping practices, of the financial auditor, of the fiscal norms and rules, can have a negative impact, not only on the companies’ ability in furnishing the needed and true financial information to the creditors and investors, but also on the capacity to analyze the future investment opportunities regarding the financial instruments, which are vital for the economic increment. Under the Accounting Standard for Financial Instruments, fair value measurement is required in certain circumstances similar to IFRS or US GAAP. There are also specialists who criticize the limited use of fair values in IFRS. However, those criticizing fair value accounting do not seem to provide any credible alternatives. Do we go back to historical cost accounting, wherein the financial assets are stated at outdated values and hence are not relevant or reliable? In the current crisis, a question that is raised is: Should financial instruments be marked down to their current throw away prices? This paper describes how the fair value is used under the Standard and purposes to decide whether fair value measurement is required or not based on the type of investment

ACCOUNTING CONVERGENCE ON ECONOMIC CRISIS

If normalization accounting is the process of harmonizing the presentation of financial statements, accounting methods and terminology, accounting convergence is the process by which accounting standards are developed in a way that is able to lead to the same fact or purpose, by highlighting the similarity of national - regional - international. This paper put in light the importance of the normalization and harmonization process, what its done in and what we have to do for that in Romania

Challenges in Estimating Goodwill in Current Financial Crisis

In recent decades is a significant change as a result of increasing importance of intangible elements. Technology development, particularly in technology transfer and communications, reduce cycle time and technological competition from the more pronounced are some elements that attract the attention of enterprises on ways to remain competitive. The essence of the ability of a person, a company or an entire company to generate wealth is primarily in the specific knowledge in its possession. The transition to IFRS based reporting has resulted in fundamental departures from many of the long accepted norms embedded in indigenous GAAP systems now superseded in IFRS adopting jurisdictions. The rules relating to goodwill accounting, measurement and reporting represent an excellent case in point, the traditionally dominant capitalize and amortise regime having been disposed of in favour of an impairment testing regime pursuant to which periodic amortisation charges are no longer required. The main goal of this paper is to analyse the problems concerning goodwill recognition and valuation of the goodwill in crisis period.goodwill accounting, measurement, reporting, goodwill recognition, valuation of the goodwill.

Consequences of financial crisis on ethics in business

On January 20, 2009, the European Forum held in Paris under the auspices of the OECD business ethics. Speaking at the forum were discussed substantive issues of ethics in business under current economic and financial affairs. The economic and social costs of international crisis representing, as is known, not only financial losses in 2008, but also reduced production in many countries, slowing economic growth in others, job losses and the credibility of financial markets, a resurgence of problems of polarization and social tensions. Ethics in business today requires reconfiguration of the international financial and economic systems based on schemes to ensure managerial factors stimulating and transparent. In this context, the main question which will be discussed is ‘How can we act responsibly as decision makers in a society that is increasingly unpredictable and unknown to us?’ It is well known that moral philosophers have long insisted that they can solve this problem by finding valid arguments for what is good and evil and on this basis formulate rules for responsible action. The aim of this paper is to give an argumentation for the inadequacy of the moral philosophers’ standpoint. Instead we should reflect upon the conditions themselves that declare an action to be moral.ethics in business, international crisis.