A VIEWPOINT ON THE CURRENT STATE OF KNOWLEDGE MANAGEMENT INSTRUMENTS

Knowledge management is seeking solutions to harmonize the objectives of organizations of the human group, which need to rationalize, to provide policy makers and to implement. This article aims to provide readers with an introduction to knowledge management basic definitions, theories and concepts such as types of knowledge, the differences between data, information and knowledge, etc, are given. But, why we need a knowledge management ? This article justified the need for companies to focus management efforts on their intangible elements and provides the five enabling conditions for knowledge creation

CONSIDERATIONS CONCERNING ACCOUNTING INFORMATION AND ACCOUNTING DECISIONS AND THEIR IMPLICATIONS IN BUSINESS MANAGEMENT

The accountants need to make choices to recognize, evaluate and classify business transactions for assuring true and fair value of information. In this paper, we try to classify these choises so that called accounting decisions. Also we try to view them in an informational perspective knowing the importance that accounting information has in the process of making business decisions

Cumulative effect of a change in accounting principle: remove it from the income statement

The comprehensiveness of income, a key definition in accounting, remains contentions despite decades of debate. A review of this debate reveals that investors have traditionally argued for more comprehensive definitions of income, whereas managers have traditionally argued for less comprehensive measures. We compare performance for both income definitions and component sets. Our results reveal that among income definitions, comprehensive income defined by Statement 130 dominates both traditional net income and fully comprehensive income. No definition dominates clearly. This, our findings indicate that different definitions of income are more decision useful in different applications and that comprehensive income component disclosures are useful.accounting, income statement, income definitions, comprehensive income

CONVERGENCE BETWEEN FINANCIAL AND MANAGEMENT ACCOUNTING AND THEIR IMPACT ON THE ORGANIZATION’S COMMUNICATION PROCESS

It is well known the role of accounting entity in the „measurement, evaluation, knowledge management and control of assets, liabilities, equity and the results obtained” during a period of management. The accounting regulations distinguish between financial accounting and management accounting. Detection convergence of financial accounting and management accounting stirs debate on a larger scale when it comes to integrating information from both types of accounts and their efficient use decision context. This study aims to emphasize the necessity of using integrated information provided by the accounting and financial management so that users of such information, managers can take contact with natural depth of potential investments, provided with the possibility of making an informed decision

PERCEPTIONS OF PROFESSIONAL ACCOUNTANTS ON THE COSTS AND BENEFITS OF IMPLEMENTING IAS/IFRS IN ROMANIA

This study aims to investigate the perceptions of professional accountants on the costs, benefits and implications of applying IFRS in Romania. The main results show that the benefits of implementing IFRS is ensuring greater transparency and comparability of financial information. In terms of costs, most respondents felt that the main costs is related to staff training, this being one of the factors that have caused difficulties in implementing IFRS. Regarding the quality of financial information after the adoption of standards, we conclude that it will improve considerably

Vulnerabilities and Risks in Romanian Public Financial Accounting

Internal audit plays an important contributive role in the economic credibility of an economy. By improving, the quality of internal audit and control in public institutions we can increase the efficiency of public spending and the whole economy in general. The aim of our paper is to identify the main vulnerabilities and risks in Romanian public sector after based upon the analysis performed by the Romanian Court of Accounts. Based upon the annual reports of the Romanian Court of Accounts from 2009 to 2016, we identify several issues and risks in the Romanian public sector, and especially in the local government financial accounting. In order to prevent more deviations and errors and to improve the quality of internal auditing and internal control systems, in the Romanian public sector, this paper proposes a series of measures in this matter

EXCHANGE RATE DIFFERENCES-THE ACCOUNTING TREATMENT AND ITS INFLUENCE ON THE FINANCIAL PERFORMANCE OF AN ECONOMIC ENTITY

Currency rate differences arise when there are certain debt rights or obligations in foreign currency of an economic entity which are collected, i.e. paid for at a different course from the one displayed by the Romanian National Bank on the date of their establishment. Such differences, according to the situation, generate expenditure or revenue which affects a company's financial result and, consequently, the accountant result as well. The results registered by an economic entity presented in the Profit and Loss Account provide information about its financial performance. This performance can be influenced by the favorable or unfavorable exchange rate differences existing when an economic entity carries out transactions or has incurred foreign currency loans having a significant share in the total amount of transactions or in capitals. The present paper shows the accounting treatment of the exchange rate differences and its impact on the financial performance

Data Mining – Innovative Method for Obtaining Information in Marketingand Business Management

The existence of massive amounts of data raised the question of using their reorientation to a retrospective to a prospective operation. Data mining offers the promise of an important aid for discovering hidden patterns in data that can be used to predict the behavior of customers, products and processes. Data mining tools must be guided by users who understand the business, the general nature of the data and analytical methods involved. It discovers information within the data that queries and reports can’t effectively reveal. It is vital to collect data and prepare properly, to face reality models. Choosing the most appropriate product data mining is to find a tool with the capabilities required, an interface that matches the skills of users and can be applied in a specific business problem. In this context, the purpose of this paper is to illustrate some of the problems of company activity problems which can be solved by using data mining techniques

Mo-LDH-GO Hybrid Catalysts for Indigo Carmine Advanced Oxidation

This paper is focused on the utilization of hybrid catalysts obtained from layered double hydroxides containing molybdate as the compensation anion (Mo-LDH) and graphene oxide (GO) in advanced oxidation using environmentally friendly H2O2 as the oxidation agent for the removal of indigo carmine dye (IC) from wastewaters at 25 °C using 1 wt.% catalyst in the reaction mixture. Five samples of Mo-LDH-GO composites containing 5, 10, 15, 20, and 25 wt% GO labeled as HTMo-xGO (where HT is the abbreviation used for Mg/Al in the brucite type layer of the LDH and x stands for the concentration of GO) have been synthesized by coprecipitation at pH 10 and characterized by XRD, SEM, Raman, and ATR-FTIR spectroscopy, determination of the acid and base sites, and textural analysis by nitrogen adsorption/desorption. The XRD analysis confirmed the layered structure of the HTMo-xGO composites and GO incorporation in all samples has been proved by Raman spectroscopy. The most efficient catalyst was found to be the catalyst that contained 20%wt. GO, which allowed the removal of IC to reach 96.6%. The results of the catalytic tests indicated a strong correlation between catalytic activity and textural properties as well as the basicity of the catalysts

Prospective observational cohort study on grading the severity of postoperative complications in global surgery research

Background The Clavien–Dindo classification is perhaps the most widely used approach for reporting postoperative complications in clinical trials. This system classifies complication severity by the treatment provided. However, it is unclear whether the Clavien–Dindo system can be used internationally in studies across differing healthcare systems in high- (HICs) and low- and middle-income countries (LMICs). Methods This was a secondary analysis of the International Surgical Outcomes Study (ISOS), a prospective observational cohort study of elective surgery in adults. Data collection occurred over a 7-day period. Severity of complications was graded using Clavien–Dindo and the simpler ISOS grading (mild, moderate or severe, based on guided investigator judgement). Severity grading was compared using the intraclass correlation coefficient (ICC). Data are presented as frequencies and ICC values (with 95 per cent c.i.). The analysis was stratified by income status of the country, comparing HICs with LMICs. Results A total of 44 814 patients were recruited from 474 hospitals in 27 countries (19 HICs and 8 LMICs). Some 7508 patients (16·8 per cent) experienced at least one postoperative complication, equivalent to 11 664 complications in total. Using the ISOS classification, 5504 of 11 664 complications (47·2 per cent) were graded as mild, 4244 (36·4 per cent) as moderate and 1916 (16·4 per cent) as severe. Using Clavien–Dindo, 6781 of 11 664 complications (58·1 per cent) were graded as I or II, 1740 (14·9 per cent) as III, 2408 (20·6 per cent) as IV and 735 (6·3 per cent) as V. Agreement between classification systems was poor overall (ICC 0·41, 95 per cent c.i. 0·20 to 0·55), and in LMICs (ICC 0·23, 0·05 to 0·38) and HICs (ICC 0·46, 0·25 to 0·59). Conclusion Caution is recommended when using a treatment approach to grade complications in global surgery studies, as this may introduce bias unintentionally