Stochastic Fuzzy Algorithms for Impairment of Assets Management

The present paper aims to analyze the impairment of tangible assets with the help of artificial intelligence. Stochastic fuzzy numbers have been introduced with a dual purpose: on one hand to estimate the cash flows generated by tangible assets exploitation and, on the other hand, to ensure the value ranges stratifications that define these cash flows. Estimation of cash flows using stochastic fuzzy numbers was based on cash flows generated by tangible assets in previous periods of operation. Also, based on the Lagrange multipliers, were introduced: the objective function of minimizing the standard deviations from the recorded value of the cash flows generated by the tangible assets, as well as the constraints caused by the impairment of tangible assets identification according to which the cash flows values must be equal to the annual value of the invested capital. Within the determination of the impairment value and stratification of the value ranges determined by the cash flows using stochastic fuzzy numbers, the impairment of assets risk was identified. Information provided by impairment of assets but also the impairment risks, is the basis of the decision-making measures taken to mitigate the impact of accumulated impairment losses on company’s financial performance

The Public Finances, the Utility of the Taxpayer and the Public Services – towards a New Connecting Model?

Public finances from everywhere have followed along the centuries, as it was natural, some periods when they had to accommodate to the needs resulted from the economic and social life. Their mission was not at all a simple one. To conceive the taxes and rates (dues) system, to ensure a performing and an efficient budgetary process, to finance some categories of public expenses, to ensure a fiscal decentralization which would not lead to severe interferences within the public field are only a few of the problems of major importance that they had to deal with. And also the challenges that have come upon public finances are not to be neglected. We may bring to mind here the opposed interests of the taxpayer, interested in obtaining a higher level of goods and public services and of the public authorities who, trying to satisfy the needs of taxpayers, have obtained almost all the time a quite high level of taxes and rates (dues). The purpose of this paper is, though, the setting up of these apparently opposed interests in an equation. We have also tried to” measure” the dependence degree of the utility felt by the taxpayer, as a consequence of the growth with one unit of the quantity of public services performed by the authorities

A Proactive Perspective on Reform in Local Public Administration

The local communities from Romania and those from Eastern Europe have become important public services suppliers carried out in the interest of their citizens. Public services such as pre-university education system, culture, assistance and social protection, but also public lightening, water supply, and sewerage are examples of services which are assured by the public local authorities. Consequent to the principles published in the European Charter of the Local Autonomy, the local authorities had fully benefited from the provisions of the Chart. The right to dispose by own resources, the right to collect them, the right to benefit by partition of tax incomes, the right to contract loans have transformed the local communities in important entities with financial power capable to carry out efficient public services in terms of quality and operational for the citizens. Which is the financial and decisional mechanism for functioning of the local communities? These are some questions for which we tried to formulate an answer within this present work beside the research of the main reform elements implemented in the European Romania

Modeling the Performance Indicators of Financial Assets with Neutrosophic Fuzzy Numbers

This research sets the basis for modeling the performance indicators of financial assets using triangular neutrosophic fuzzy numbers. This type of number allows for the modeling of financial assets performance indicators by taking into consideration all the possible scenarios of their achievement. The key performance indicators (KPIs) modeled with the help of triangular fuzzy neutrosophic numbers are the return on financial assets, the financial assets risk, and the covariance between financial assets. Thus far, the return on financial assets has been studied using statistical indicators, like the arithmetic and geometric mean, or using the financial risk indicators with the help of the squared deviations from the mean and covariance. These indicators are well known as the basis of portfolio theory. This paper opens the perspective of modeling these three mentioned statistical indicators using triangular neutrosophic fuzzy numbers due to the major advantages they have. The first advantage of the neutrosophic approach is that it includes three possible symmetric scenarios of the KPIs achievement, namely the scenario of certainty, the scenario of non-realization, and the scenario of indecision, in which it cannot be appreciated whether the performance indicators are or are not achieved. The second big advantage is its data series clustering, representing the financial performance indicators by which these scenarios can be delimitated by means of neutrosophic fuzzy numbers in very good, good or weak performance indicators. This clustering is realized by means of the linguistic criteria and measuring the belonging degree to a class of indicators using fuzzy membership functions. The third major advantage is the selection of risk mitigation analysis scenarios and the formation of financial assets’ optimal portfolios

CREATING CAPITAL MARKETS UNION. OPPORTUNITIES AND LIMITATIONS.

Union of European Capital Markets is a recent initiative of the European Commission, issued the credit crunch from EU. This paper aims to discuss the advantages and disadvantages of this Union, estimated to be achieved by 2019. At the same time, we intend to analyze the opportunities and limits of achieving this union, its impact on European integration and the Member States, on the expansion possibilities of funding SMEs, on sustainable economic development. In our opinion, the project to union capital markets from the European Union is commendable, following completion of more and more domestic companies could obtain financing from international capital markets

THE INFORMATION CONFIDENTIALITY AND CYBER SECURITY IN MEDICAL INSTITUTIONS

The information confidentiality and cyber security risk affects the right to confidentiality and privacy of the patient, as regulated in Romania by the Law 46/2002. The manifestation of the cyber security risk event affects the reputation of the healthcare institution and is becoming more and more complex and often due to the: development of network technology, the medical equipment connected to wifi and the electronic databases. The databases containing medical records were implemented due to automation. Thus, transforming data into medical knowledge contribute to a better understanding of the disease. Due to these factors, the measures taken by the hospital management for this type of risk are adapted to the cyber changes. The hospital objectives aim: the implementation of a robust information system, the early threats identifications and the incident reporting. Neglecting this type of risk can generate financial loss, inability to continue providing health care services for a certain period of time, providing an erroneous diagnosis, medical equipment errors etc. Thus, in a digital age the appropriate risk management for the information security and cyber risk represent a necessity. The main concern of hospitals worldwide is to align with international requirements and obtain credentials in terms of data security from the International Organisation for Standardization, which regulates the management of this type of risk. Romania is at the beginning in terms of concerns regarding the management, avoidance and mitigation of information security, the health system being most highly exposed to its manifestation. The present paper examines the concerns of the health system to the confidentiality of information and cyber security risk and its management arrangements. Thus, a set of key risk indicators is implemented and monitored for 2011-2013, using a user interface, a Dashboard, which acts as an early warning system of the manifestation of the risk event in a hospital from western Romania