THE FINANCIAL POLICY AND STRATEGY INSIDE THE ROMANIAN ECONOMIC ENTITIES

The total level of the financial resources and the company’s financial power, the capital’s cost as related to the average one on branch and to the competitors, the available capital’s structure and flexibility, the company’s profitability, the liquidity, the debt level, the financial planning quality, the working capital’s level and the efficiency of using it, the budget procedures’ quality, the accounting system’s quality, the level of control procedures and internal audit are only some of the factors that the management has to consider in order to provide the company’s competitiveness on the market. Certainly, the financial forecasting does not avoid for irritable surprises to bring about real crises. Still, the advantage of the financial projection basically consists of determining the managers to take into consideration the possible deviations from the anticipated objectives. From this perspective, the paper captures some essential aspects regarding the financial policy and strategy, focusing on the conducted investigation type study through which we wanted to capture the managers’ opinions regarding the financial forecasting, as well as the level in which financial policies and strategies are being elaborated inside the Romanian companies.forecasting, financial policy, financial strategy, projection, management

STUDY ON THE ACCOUNTANCY OF OPERATIONS OF RECEIPTS AND PAYMENTS WITHIN THE ECONOMIC ENTITY

Given the importance of money, their rational organisation is an essential goal of accountancy in this area. This objective consists of providing the permanent financial balance and a rational efficiency of the entire activity, which can be achieved through a complex of activities and instruments, such as: activity programmes and budgets of income and expenses, expressed in money for all their sectors, but more especially through a permanent and systematic tracking of economic-financial activities. The paper presents some theoretical aspects regarding the concept of treasury and afterwards it focuses on the synthetic presentation of the main accounts used in their accountancy. A more detailed presentation is limited to an accounting monograph of operations of receipts and payments within an economic entity.treasury, accountancy, accounting note, receipt, payment

STUDY ON THE RISK MANAGEMENT IN BANKING INSTITUTIONS

Risk is a key factor for businesses, because you cannot get profit from any activity without risk. Since banking risks are a source of unpredicted expenses, their proper management might stabilize revenues, having the role of shock absorber. At the same time, strengthening the value of banking shares can only be achieved through real communication with the financial markets and the implementation of adequate programmes of banking risk management. The paper analyzes, for the beginning, a series of general aspects regarding risk and banking risk management. Then, we present the conclusions resulting from the quantitative research descriptive type which had as objective the analysis of knowing the measures that have to be taken in the banking management for a better management of risks that might cause bankruptcy and opinions about the NBR responsibilities to monitor and control the banks in the system.risk, management, bank

STUDY REGARDING THE ACCOUNTING ACTIVITY MATTER TACKLED FROM THE EFFICIENCY REQUIREMENTS

The accounting activity depends on the general management which has as an objectiveto accomplish its functions within the organisation’s financial and patrimonial area. Naturally, wecan not talk about an efficient management without an efficient accounting activity. For this reason,the present paper tackles certain aspects which we consider that have to be established in order toget efficiency in the accounting field. The theoretical aspects are backed by the results of a selectivescientific research with the purpose of knowing the respondents’ opinion regarding the realities andperceptions over the accounting activity matter.accounting, informational, training, interdependencies, ethics

Strategic views regarding the relationship marketing approach and the transactional marketing approach within the financial and banking segment

The study discusses the strategic aspects of relational marketing in the financial and banking sector, from the point of view of the influences the field is subject to, and based on the theoretical advances in the domain. The maintenance of the relationships with the present customers, as well as the future oriented attempts to gain new clients are critically examined, in the context of a field where “a banker’s word is a banker’s bond”.relationship marketing, financial and banking sector, strategic marketing.

STUDY REGARDING THE IMPORTANCE OF ACCOUNTANCY INSIDE ORGANISATIONS

The diversity of the accounting informational needs has determined the establishment of two representations of the same reality: an „internal” representation – the managerial accounting – and an “external” one – the financial accounting. From this perspecaccounting, financial, management

Cluster analysis approach for banks’ risk profile : the Romanian evidence

Cluster analysis, as an exploratory technique, by gathering together those credit institutions sharing similar features in terms of financial intermediation activity, proves to be a complementary tool for the peer group analysis, accomplished at the off-site supervision level. The aim of our study was to include a representative sample of Romanian credit institutions into smaller, homogenous clusters, in order to assess which credit institutions have similar patterns according to their risk profile and profitability. We found that, over the period 2004-2006, the clusters remained relatively stable in terms of similarity of exposure to risks and profitability.peer-reviewe

Advertising Romanian Master Programs. A Case Study

AbstractRomanian higher education institutions have taken the internationalization process as an objective of strategic development, in order to improve the quality of study programs, both in education and research activities. A key factor in increasing the interest in internationalized curriculum is the actual situation on the labor market, in the context of Romania's accession to the European Union. Internationalization strategies must be defined at the level of MA study programs, taking into account several important elements: mobility, societal goals, the Romanian legal framework, the institutional organization, the specificity of the field of study, the profile of the MA student participating in internationalized programs. Beyond all these, each university must build a viable marketing strategy, which includes a series of indicators similar to those used by prestigious international universities. A good strategy for the promotion of internationalized curriculum creates a number of opportunities: the international recognition of diplomas; the achievement of internationally recognized standards; the facilitation of the international movement of labor force (and, implicitly, the recognition of diplomas); the compatibility and harmonization of curriculum and methodologies with those of partner universities; the attraction of foreign students; improving the image of the institution; professional and financial benefits; promoting attractive specializations at international/European/regional levels; reinforcing and developing partnerships with Romanian and foreign companies, in order to support the curriculum by means of the proposed research topics, with funding based on the results obtained; strengthening and extending the existing partnerships; increasing the selection base for the PhD level; promoting the European dimension of the Romanian higher education by developing the curriculum; promoting the mobility of students and teachers, by recognizing the traineeships offered by other higher education institutions and by respecting the statutory rights of these people; jobs at international companies, at home and abroad, and lastly, the achievement of academic prestige

ASPECTS REGARDING THE ROLE OF THE FINANCIAL MANAGEMENT IN ELABORATING AND IMPLEMENTING THE ORGANISATION’S STRATEGIES

Globalisation, increasingly harsh competition, more demanding clients, continuous technological progress – are factors which are now influencing all activities. Organisations have to be as flexible, adaptable and able to permanently reinvent themselves as possible, in order to survive in an environment which allows increasingly less the existence of weak competitors. Most companies function in a business environment where changes, the unpredictable and the uncertainty are the only certainties. In this environment, one of the basic challenges is the company’s survival through strategy and competitive advantage, all of this leading to the financial performance. But it is impossible for managers to elaborate and implement a strategy without the knowledge, the abilities and competences of the ones involved in the financial management.strategies; financial; management