COST-BENEFIT ANALYSIS - BETWEEN OPPORTUNITY AND LIMITS

Organizations, public or private, are attracted by larger and more important investments, materialized in short or long term investment projects (with own or non-refundable financing). The opportunity and viability of these projects must still be considered in the design phase, before starting the actual investment, being considered viable in this sense the Cost-Benefit Analysis (CBA). The article presents the CBA as a procedure for evaluating the efficiency of the invested capital, in monetary values, in order to support the managerial decisions regarding the remuneration of the personnel, the acquisition of equipment, the accomplishment of arrangements and constructions, etc. Existing literature emphasizes the obvious opportunities and benefits of CBA (both for the beneficiary and for the investor), but avoids underlining its limitations by correlating the possibility of manipulating the information in favour of the beneficiary, avoiding highlighting the associated risks and errors

OBJECTIVES AND PARTICULARITIES OF DECISIONS IN THE CONTEXT OF CORPORATE GOVERNANCE

Corporate governance means the overall driving of the entire organization byaccepting all internal components, which work together, which eventually will be integrated in themanagement, and implemented to the risk management within the organization and financialmanagement system and internal control, including internal audit. At this time of globalization andharmonization, the accounting profession acts for the image that it deserves, fulfilling a criticalrole. Harmonization, convergence of accounting systems in service, currently must be made by themost trained professionals, under conditions of total transparency. Presently, the global economy,the influx of investment and cross-border operations in particular of the large enterprise groupsexert a strong influence on the accounting profession.accounting systems, decision processes, corporate governance, financial information.

RESEARCH REGARDING THE ROLE OF CONTINUOUS FORMATION OF THE EMPLOYEES IN ORDER TO INCREASE THE COMPETITIVENESS OF ORGANISATIONS IN SUCEAVA COUNTY

Defence mechanism, competitiveness is seen as a means of ensuring the survival of organizations. Are companies and even countries that speak of competitiveness in order to survive to the onslaught of globalization, new entrants and low profit margins. The studies are showing that all organisation are recognising the role and importance of human resources in ensuring its competitiveness. The present paper will try to analyse the role of employees' formation and to establish their importance in increasing the competitiveness, based on information offered by the companies from Suceava County.human resources, continuous formation, training programs, competitiveness

CONSIDERATIONS ON THE PROSPECTS OF THE INTEGRATION OF THE EUROPEAN FINANCIAL MARKETS IN THE CONTEXT OF THE GLOBAL CRISIS

In recent years, as the efforts linked to the elimination of the capital movements control between countries have intensified, the preoccupations concerning the explanation of the financial integration concept have multiplied, in their turn. An integrated financial market is necessary particularly to the distribution of liquidity between the institutions in the euro zone, and, implicitly, for the enforcement of a common monetary policy. Thus, the problem of the integration of the financial market, respectively of the monetary one, appears as a premise for a homogenous transmission of the financial policy impulses all throughout the euro zone. The financial integration is defined in conformity with the law of a single price. According to this definition, in case the markets are integrated, the financial assets bearing identical characteristics should have the same price, regardless of their geographic origin.: financial market, financial stability, euro zone, single currency

THE POLICY OF PRICES AN IMPORTANT ELEMENT IN SUBSTANTIATION OF PENETRATION STRATEGY IN NEW MARKET SEGMENTS

Pricing policy aims to determine the price of goods and services sold by the organization. These figures have an impact over the turnover that must be higher to the total expenses for the enterprise to make profits. Therefore, it is important to know thecorporate strategy, accounting information, the need of information, users of accountancy’s products

SHORT INCURSION ON ANNUAL FINANCIAL REPORTS VERSUS INTERIM FINANCIAL REPORTS

Our concern for the analysis of the annual and interim financial reporting was generated by the importance that each entity must give, which in certain periods of its activity is required to give it to this strategic source of information. In each entity questions arise regarding the usefulness of the annual and interim financial reports considering: their (relatively long) preparation time, their limited character and the resources to be allocated for their preparation. Finding a common solution to these problems and implicitly increasing the interest for financial reporting, especially interim, can contribute to increasing the economic performance of the entity, either by reducing unnecessary costs (waste) of time, or by increasing communication and transparency with third parties (creditors, customers, etc.), an appropriate management can act early in the direction of counteracting the negative effects in the activity of the entity or in the direction of preventing possible commercial or production failures, on the overall economic trends in the field in question and on increasing productivity. The article is a theoretical analysis of the annual financial reports versus interim financial reports, starting from international and national regulations, usefulness of comparative data, etc., underlining the particular importance of both types of reports

PERFORMANCE ANALYSIS OF PHARMACEUTICAL COMPANIES DURING THE PANDEMIC CRISIS

Analysing the financial performance of companies involves examining various aspects of a company’s financial activity, including profitability, liquidity, solvency, rate of return, cash flow and debt ratio. Beside the detailed information on the financial situation of a company, the financial performance analysis can help assess a company’s potential, including its ability to meet its financial goals. The present paper performs examining of annual financial reports of three companies from pharmaceutical sector from Romania and analysing key financial indicators during three years: ante-pandemic, pandemic, post-pandemic. The crisis generated by the COVID-19 pandemic has directly influenced all economic sectors worldwide, in most cases in a negative sense. At the opposite pole, the pharmaceutical industry had the opportunity to expand and improve its performance, as a result of the constant market need for medicines and medical devices. The financial performance analysis of the three most important pharmaceutical companies from Romania provides detailed information on financial situation of these companies. The paper underlines the importance of the analysis for making investment, management and strategic decisions, but also to identify trends and risks and assess the companies’ ability to meet their goals, presiding at the same time measures for long-term business expansion in a post-pandemic environment

THE POLICY OF PRICES AN IMPORTANT ELEMENT IN SUBSTANTIATION OF PENETRATION STRATEGY IN NEW MARKET SEGMENTS

Pricing policy aims to determine the price of goods and services sold by the organization. These figures have an impact over the turnover that must be higher to the total expenses for the enterprise to make profits. Therefore, it is important to know th

RESEARCH REGARDING THE ROLE OF CONTINUOUS FORMATION OF THE EMPLOYEES IN ORDER TO INCREASE THE COMPETITIVENESS OF ORGANISATIONS IN SUCEAVA COUNTY

Defence mechanism, competitiveness is seen as a means of ensuring the survival of organizations. Are companies and even countries that speak of competitiveness in order to survive to the onslaught of globalization, new entrants and low profit margins. The studies are showing that all organisation are recognising the role and importance of human resources in ensuring its competitiveness. The present paper will try to analyse the role of employees formation and to establish their importance in increasing the competitiveness, based on information offered by the companies from Suceava County