A NEW APROACH OF CONCEPTUAL FRAMEWORK FOR GENERAL PURPOSE FINANCIAL REPORTING BY PUBLIC SECTOR ENTITIES

The importance of accounting in the modern economy is obvious. That is more elevated bodies of the European Union and elsewhere dealing with the organization and functioning of accounting as a fundamental component of business (Nistor C., 2009). The mission of the International Federation of Accountants (IFAC) is to serve the public interest, strengthen the worldwide accountancy profession and contribute to the development of strong international economies by initiating and encouraging the professional standards of high quality, the convergence process these international standards and to discuss issues of public interest which is extremely relevant international experience of (IFAC, 2011). Currently, the concepts related to financial reports in public sector are developed by IPSAS references. Many of today's IPSAS are based on international accounting standards (IAS / IFRS), to the extent that they are relevant to the requirements of the public sector. Therefore today's IPSAS are based on concepts and definitions of the IASB's conceptual framework, with changes where necessary for public sector specific approach. Thus this study present this brief draft statement under discussion by the leadership of IFAC in collaboration with other organizations and groups that develop financial reporting requirements of the public sector. Then, we highlight the importance and the degree of acceptance of the project which results from comments received. On the basis of combining qualitative with quantitative research seeks to demonstrate the necessity and usefulness of a common conceptual framework of the International Accounting Standards (in this case the Public Sector), starting from their emergence from presenting their bodies involved in the foundation, the content standards, experience of different countries. The results have direct implications on Romanian public accounting system, given that the reference of the international implementation and reporting is an actual goal. The study is primarily addressed to graduate, doctoral students, professors and researchers working in public sector accounting. The study aims at presenting the acceptance of the theme subject for discussion by the IPSASB. It is addressed also to all those interested to know the current evolţia development of International Public Sector Accounting.financial reporting, consultation paper, public sector, public sectors references, Romania

Studiu privind posibilitatea implementarii balance scorecard-ului in universitati

Balanced Scorecard is a new control tool in public entities, especially in universities. The aim of this paper is to analyze the possibility of implementation in Romanian universities. At an international level, this concept was used at the beginning by the private sector, followed by its usage by the public sector as well. In universities of the Anglo – Saxon states, there have been debates on the subject for a long period of time in relation to the opportunity of introducing this concept; these debates have been supported by pro and against arguments. At a national level, this concept is virtually unknown in the higher education state institution system. Through the present paper, we would like to test the opportunity of introducing the concept starting from the identification at a global level of the conditions and regulations specific to the Balanced Scorecard (BSC) concept. Our results will present the first overview of this new subject, which is not yet developed in Romania.Balanced Scorecard Concept, Public University, Managerial Accounting

ECONOMIC RESEARCH, BETWEEN SCIENTIFC ACCOMPLISHMENT AND CURRENT REALITY

Scientific research is the cornerstone of the academic environment. Given this, it is interesting to establish the way in which economic research, especially accounting research, keeps up with the current reality both at the national and international levaccounting research, conferences, themes, Romania

A GENERAL VIEW OVER THE STRUCTURAL FUNDS IN TOURISM – CASE STUDY ROMANIA -

The major subjects of our paper are focus on the following subjects: thesupervision of the structural funds with reference to the money put at Romania’sdisposal for the development of tourism; the analysis of competitiveness in tourismthrough the 8 parameters presented; the analysis of the economic contribution ofTourism and Travels at the national scale, within the Satellite Account for Romania. Theconclusions of the paper will represent a support for analysis both in the case ofgovernors and of practitioners.tourism, accounting, audit, regional policy

MARITIME HUMAN RESOURCES COMPETITIVENESS THROUGH PROPER IMPLEMENTATION OF SAFETY MANAGEMENT

Maritime competitive companies are the ones that provide qualitative transport services at a lower price than competitors. High professional seafarers are the key success for competitiveness in maritime field. Professional and competitive seafarers are nocompetitiveness, maritime human resources, safety management

Public vs. Banking Sector Accounting - How Far Is Romania from International Referential?

The purpose of our paper is to identify the level of accounting harmonization in Romania for both public and banking sector with international referential (IPSAS and IFRS) focusing on financial reporting requirements, by providing both vertical and horizontal analysis beginning with the year 2001 up to present. Unlike prior studies conducted on the same topic, which measure the general accounting harmonization for private sector, our paper is focused on specific economic fields – public vs. banking sector – thus providing a different approach of accounting harmonization. The research methodology used for achieving our goal was based on both static and dynamic analysis of the degree of similarity and dissimilitude between national and international accounting frameworks, by using appropriate statistical tools (e.g. Euclidian distance, Jaccard and Spearman coefficients). Our results reveal continuous improvements in accounting regulations in both sectors along time, but banking sector was always much closer to international standards than the public one. Considering the controversies between cash and accrual basis accounting which affected harmonization in public sector, as well as the latest challenges for banking sector due to IFRS adoption, we appreciate the overview image of accounting development in Romania provided by our empirical results as valuable for a wide range of users: academics, researchers, practitioners for both public and banking sector

Sustainability of Public Resources - International Debate

Given that public resources are becoming increasingly limited, to discuss the international change of their approach is more and more necessary. Long-term fiscal sustainability is the government's ability to meet financial targets and commitments both now and in the future. Through an empirical approach ED "Reporting on the long term sustainability of public finances," affected by the IPSASB and responses made ​​by respondents, this approach measurable impact on international public accounting system with direct implications on the public Romanian system. The results demonstrate the need to review elements of financial statements of public institutions, concluding that the current form does not provide the necessary information tailored to the principles of efficient, effective and rational use of public resources

Legitimacy to develop fair value measurement standards: The Case of the IVSC Discussion Paper – Determination of fair value of intangible assets for IFRS reporting purposes

This research studies, through a content analysis of the comment letters to the IVSC project on fair value determination of intangible assets, the legitimacy of this professional body, or of the accounting associations, to develop measurement standards specific to this accounting concept. At present, with the exception of FAS 157, no professional standard offers clear technical solutions for fair value determination for financial reporting purposes. We have come to the conclusion that, among respondents, accountants are more reserved than valuators in what regards the IVSC regulating of the fair value measurement. The Anglo-Saxon respondents are more open to accept the IVSC DP as compared to respondents from other countries, hence the IVSC legitimacy to develop fair value measurement standards. Generally, we consider that accounting bodies, rather than valuation bodies, should have legitimacy to develop fair value measurement standards.fair value, professional standards, valuation techniques, guidance, project acceptation, value hierarchy

A New Framework for Online Business Teaching

Recently, business education has experienced an expansion of online education programs. In this paper, we propose a framework to improve the effectiveness of student learning in an online lecture format. In particular, we focus on business courses, which tend to be hard to replicate online as they rely on team work and applied logical thinking in addition to the learning of facts and theory. We identify two main areas that are vital to online business education: competition and community building among students. We argue these are an additional task for the instructor to deliberately perform in an online setting, compared to what often occurs organically in a traditional in-class setting

Pricing and Quality Provision in a Supply Relationship: A Model of Efficient Relational Contracts

We model how quality concerns affect the relationship between a firm and its supplier. A firm concerned about uncontractible quality for a customizable good has to pay higher prices to sustain a relationship with the supplier. If the customizable good has sufficiently volatile demand, then a contract that includes a constant unit price premium only for this good cannot be sustained. Instead, the downstream firm pays a premium both for the customizable good and also for a good with more stable demand that is correlated with the demand for the customizable good. Our results imply that a supplier of customized goods should also supply other products, which can include goods that do not require customization, and both the supplier and buyer benefit from the greater pricing flexibility they achieve by trading multiple goods