SOME CONSIDERATIONS REGARDING LETTER OF CREDIT ACCOUNTING

Cash, as a means of money, is a mandatory component of the accounting system because accounting can only work with values, through which take place the generalization and expression of the reality of economic phenomena. From the point of view of cash classification, depending on the presentation, we identify the letter of credit, known as a financial instrument for securing payment, also illustrating its classification with the necessary example. The topicality of the article results from the consideration that researching the specialized literature for the last years, the authors noticed the absence of articles addressing this topic. The research methods used include such methods as the normative documentary method, induction and deduction, analytical study, etc. The purpose of this article is to highlight the main arguments of using the letter of credit in terms of literature, both national and international, in order to motivate economic agents in its use, because from the moment of issuance, the supplier is assured that all the provisions of the commercial contract will be observed by the buyer

MAPPING THE LITERATURE ON INTEGRATED THINKING: A BIBLIOMETRIC ANALYSIS

The goal of this research is to elucidate the idea of integrated thinking, which was introduced in the Integrated Reporting (IR) initiative for the disclosure of non-financial data, because it has not been thoroughly studied and there is no consensus on its meaning. The literature on integrated thinking is thoroughly examined in this study combining the two bibliometric indices: Elsevier’s Scopus and Clarivate Analytics’ Web of Science databases. The databases on the issue have a high level of complementarity, according to our searches. Their combined use has allowed us to track the volume and impact of studies on the issue in great detail. The main countries, publications, authors, articles, intellectual foundations, and themes are all identified. We also mapped the networks of co-authorship, co-citations, and co-keywords in integrated thinking research using Bibliometrix.

USE OF TRADE RECEIVABLES AND PAYABLES ANALYSIS IN THE DECISION-MAKING PROCESS

Under the current conditions of the global market economy, effective analysis and management of trade receivables and debts requires strategies aimed at improving results. Monitoring of trade receivables and payables therefore requires increased attention in order to avoid excessive growth in receivables and payables, which would increase the risk of bankruptcy. Thus, the entity’s management must have reliable and relevant information on the economic and financial situation in order to keep the entity’s receivables and payables at an optimal level. This research emphasises the importance of analysing trade receivables and payables and the need for their proper management to improve the entity’s financial position and performance. The methodological approach of the paper involves the use of methodological and statistical-mathematical tools characteristic of the social sciences

Relevance Versus Irrelevance of Scientific Research Skills to the Practice of the Accounting Profession

Assessing the relevance of scientific accounting research to the practice of the profession is a topic less present in the literature, and the results of empirical research are often divided. In this context, the research aims to analyse the extent to which scientific accounting research is necessary and relevant for the practice of the profession. The views and opinions presented in this paper will represent the author's perceptions of students' and practitioners' attitudes towards indigenous accounting research, formed both from an academic perspective and from the perspective of the practicing accountant

An empirical analysis of stakeholders’ expectations and integrated reporting quality

Within the present-day economic situation ensuring a competitive position coincides with its ability of managing its relationship with the stakeholders regarding the distribution of the added value and setting up of a legit consensus between them and the company itself. The main objectives of the study focus both on identifying the reasons that led to the development of the information transparency in order to satisfy the stakeholders’ expectations within the Integrated Reporting (IR) and on the dynamic analysis of the main economic and financial factors (from a sample of 180 companies quoted on the stock exchange during 2008–2017) that were the foundation of the statistical design for evaluating the companies’ ability to satisfy the stakeholders’ expectations. The research methods refer to identifying those evaluation methods in terms of the IR’s quality and compliance regarding the stakeholders’ expectations based on the analysis of the database and the econometric model. The final results can be very useful both for those companies that are already using or will choose to apply the IR in the near future and for the potential stakeholders as they have the option of evaluating before-hand the degree of satisfaction of their expectations in relationship with the reporting company

Improving Economic Efficiency of an Entity through Comprehensive Analysis of Receivables

The economic activity of any entity generates a complex, diverse and fluctuating system of economic and legal relations with services beneficiaries, product buyers, staff, the state budget, other legal entities and individuals. The relationships established in order to achieve the object of activity lead, due to the time gap in the fulfillment of financial obligations, to the appearance of receivables. This paper highlights the concept of receivables through the synthesis of literature, but also the bibliometric analysis, which allows for a clear picture of the extent and quality of scientific research in the direction of the analyzed issue, that is, accounting and receivables analysis. Likewise, the paper sheds light on the importance of the analysis of receivables, having as "raw material" financial-accounting information, or, the adequate management of the size, structure and maturity terms of the entity's receivables will lead to its prosperity

CONSIDERAŢII PRIVIND IMPORTANŢA METODEI DE CALCULAŢIE A COSTULUI PE COMENZI

În acest articol este prezentată o modalitate de organizare a contabilităţii de gestiune şi a calculaţiei costurilor prin metoda pe comenzi. Sunt tratate etapele de derulare a metodei de calculaţie a costului pe comenzi, respectiv rolul conta­bilului de gestiune în derularea şi implementarea acestei metode. Din punct de vedere teoretic şi aplicativ, sunt abordate etapele metodologice parcurse în contabilitatea de gestiune şi calculaţia costurilor.Concluziile formulate vizează organizarea contabilităţii de gestiune; entitatea trebuie să aplice cea mai eficientă metodă de calculaţie, ba chiar şi o combinaţie de metode de calculaţie – clasice şi moderne, în concordanţă cu parti­cularităţile tehnologiei şi organizării producţiei, precum şi cu cerinţele unei administrări eficiente. Totodată, sunt abor­date şi avantajele pe care le oferă metoda pe comenzi, de unde derivă şi importanţa acestui subiect. CONSIDERATIONS ON THE IMPORTANCE OF THE JOB-ORDER COSTING SYSTEM The authors present a method for the organization of the management accounting and job-order costing. Consideration has been given to the stages of the job-order costing system, as well as to the role of the accountant in the application and implementation of such method. The authors have adopted a theoretical and applicative approach in regard to the methodological stages covered by the management accounting and the costing method.The article ends with the authors' conclusions regarding the organization of the management accounting. In this respect, it outcomes that an entity is to apply the most efficient costing method and, moreover, a combination of classical and modern costing methods, in accordance with the specific features of the manufacturing process and production engineering, as well as the efficient management requirements. The authors have also shed light on the advantages offered by the job-order costing system, and the resulting importance of the subject under consideration.</p

ACCOUNTING CHALLENGES OF SUSTAINABLE DEVELOPMENT OF HIGHER EDUCATION INSTITUTIONS FROM THE REPUBLIC OF MOLDOVA

The Republic of Moldova has, de facto, joined the Bologna Process in 2005,and startingwith this year multiple reforms in the higher education realm have been peformed. One primary aspect deals with the financial autonomy of the universities. The lack of an adequate financial support from the government was offset by the introduction of paid studies, which allowed universities to survive under government underfunding conditions and to independently manage their financial resources gained from tuition fees. In order to determine the adequate level of funding a tool for identifying the real training costs is required. In this article, we aim to investigate the pros and cons of the method of activity-based costing

EFICIENȚA APLICĂRII STANDARDELOR INTERNAȚIONALE DE RAPORTARE FINANCIARĂ (IFRS) ÎN REPUBLICA MOLDOVA, ÎN CONDIȚIILE ACTUALE ALE ECONOMIEI DE PIAȚĂ

În acest articol autorii își propun să furnizeze informații privind aplicabilitatea Standardelor Internaționale de Raportare Financiară (International Financial Reporting Standards (IFRS)) în Republica Moldova, având în vedere condițiile actuale ale economiei de piață. Mesajul acestui articol este definit de prezentarea unor situații, prin care se observă avantajele potențiale privind implementarea IFRS, privită din punctul de vedere al necesității. Totodată, sunt relatate și unele lacune posibile, în urma aplicării standardelor internaționale, ce s-ar referi la complicitate, costuri și concoradanță a informației.THE EFFICIENCY OF INTERNATIONAL FINANCIAL REPORTING STANDARDS APPLICATION IN REPUBLIC OF MOLDOVA IN THE CURRENT MARKET ECONOMY CONDITIONSIn this article the authors aim to provide information regarding the International Financial Reporting Standards inRepublicofMoldova, taking into account the current market economy conditions. The message of this article is to present some situations, by which can be noted the potential advantages on implementing IFRS, looking in terms of necessity. Also, are reported the possible gaps, after applying international standards, that would mean complicity, costs, and consistency of information. </p

OLICIES AND PRACTICES FOR IMPLEMENTATION OF IFRS AND NAS IN THE REPUBLIC OF MOLDOVA

This study aims to analyse the process of harmonization of national accounting standards of the Republic of Moldova to the international standards. It highlights the main advantages, disadvantages, risks and opportunities regarding the implementation of the new standards. A major step for the Republic of Moldova was the implementation of IFRS, which has become mandatory for all public interest entities from 1 January 2012 and the adoption of new NAS in accordance with EU Directives and IFRS for small and medium-sized entities, for which the transition to IFRS was difficult due to high costs involved. The new NAS came into force on 1 January 2014 as a recommendation, but starting with 1st January 2015 it will be mandatory for all entities. The paper includes a practical analysis of the impact of transition to IFRS on the financial results of a public interest entity- Moldova Agroindbank, which is the largest commercial bank, with the highest market share in the banking sector of the Republic of Moldova. A result of the analysis of primary and secondary indicators calculated on the base of the financial statements prepared by commercial bank at 31.12.11, we found that the transition to IFRS has resulted in the growth of all financial indicators