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Essential Attributes of the Accounting Information in Applying The Financial Reporting Differences Between Ifrs and us Gaap

Abstract

In the context of the development of information, the main role of financial reporting is threatened by alternative sources of information that users use. However, the main source of information for decision-makers remain the accounting information relaxed from synthesis financial reporting, because the legal framework prescribes mandatory minimum information and a set of quality certification mechanisms thereof. As a starting point in our research we used relevant studies from the scientific literature regarding the understanding of the accounting information in financial reporting. We specify that many authors place the accounting information in the perimeter of the objectivity and the accuracy, which is essential in making economic decisions by the leadership. Thus, in support of decisionmakers, accountants apply professional judgment (judgment of International Financial Reporting Standards), taking decisions in terms of the use of accounting treatments to achieve a quality of financial reporting information. The contents of the article have been reported not only attributes on accounting information provided by IFRS, but also aspects of US GAAP regarding financial reporting, presenting the differentiation between the two accounting referential. We note that the accounting information can be the best friend of actual and potential investors if used properly understood

Open access
The Influence of the Endogenous and Exogenous Factors on Credit Institutions’ Return on Equity

Abstract

The research’s purpose is to study the credit institutions’ performance, from the shareholders’ point of view, through return on equity (ROE). It aims to identify a dependency relationship between return on equity (ROE) and endogenous factors (the growth rate of credit portfolio, the growth rate provisions, the solvency ratio), on the one hand and, on the other hand between ROE and the exogenous ones (GDP and inflation rate). The research was done over an horizon of 10 years (2004-2013) on the evolution of the return on equity indicator of two credit institutions listed on Bucharest Stock Exchange (Carpathian Commercial Bank SA and Banca Transilvania SA), highlights their vulnerability to economic conditions. The results obtained indicates, that in both credit institutions, the variation of return on capital is determined in a significant proportion by intern factors and it is conditioned in a insignificant share by the exogenous factors

Open access
Labour Taxation – A Comparative Study

Abstract

In our paper we aim to analyze the tax wedge between labor costs and net wage, this being the main indicator for assessing the tax burden on labor. We analyze the components of the tax wedge and its evolution in time, in the OECD countries and in Romania. In this way we can get an image of the total labor cost, observing that our country belongs to countries where labor taxes have a very high level. Thus, from our analysis we showed that in Romania the tax wedge is around 42%, while the OECD average was only 35.9%. In these circumstances it is necessary to adopt certain measures for shifting the tax burden from labor to other tax bases, with the purpose of a fiscal relaxation of labor income

Open access
Managing the Current Situation of Young People in National and European Context in Terms of their Employment

Abstract

Assessment and research into this phenomenon of social marginalization and social exclusion of young people at both national and European levels has as a target to find methods of prevention and reduction of this phenomenon and understand the fact that it is only through communication, debates and dialog that will we be able to establish benchmarks for joint action. Young people are one of the age segments which are most affected by the economic recession. It is also accepted that in each of the Member States of the EU, despite different circumstances and levels of economic development, major issues faced by young people are the same: from access to essential services (such as education and health) and up to their integration into the labour market with a view to achieving a higher standard of living. The decision makers are constantly interested in solving these stringent problems, which can be found in the policies and strategies for economic recovery and fighting the austerity measures adopted by the Member States of the EU, through a series of programs that have as main objectives combating unemployment and poverty among young people and providing opportunities for more active involvement in their community life: political, social, economic, cultural. In Romania, the problem of young people constitutes an issue of major importance for the Government, which has drawn up for the first time an Integrated Strategy of Romania with regard to young people called "National Strategy for Youth 2014-2020", with particular emphasis on the first role that education must play in this context. Examples of solutions identified by the governors are: an increase in public funding for mentoring programs, for the prevention of school dropout rates, establishment of differentiated educational offers, training schemes designed to eliminate lack of qualification in young people, in such a way as to maintain a competitive and well-prepared generation in the country

Open access
Mathematical Models Issues of Environmental Management

Abstract

Today the world is facing, more and more, different sources of pollution, the most affected areas being the proximity of big industrial centers (e.g.: chemistry, mining and metallurgy, machinery building etc.). Baia Mare industrial area is a typical one for such a situation. To maintain a clean and healthy environment in Baia Mare city and in the surrounding areas, important costs are needed. The usefulness of the mathematical models consists in the possibility of mathematical processing of industrial parameters evolutions, with relevant interpretations on various influences and their correction for achieving the set goals (maximizing financial efficiency, environmental protection with the compliance of legal requirements etc.)

Open access
Technology Entrepreneurial Ecosystems and Entrepreneurship in the West Region of Romania

Abstract

Technical progress and entrepreneurship have become drivers of economic and social stability and progress. To develop their new ventures, to generate value, and to validate and implement business ideas, entrepreneurs need a competitive business environment, we name it technology entrepreneurial ecosystem. Entrepreneurial new ventures competitiveness depends on the entrepreneurial ecosystem structure and components. Our research presents the main levels of information technology industry linked with technology entrepreneurial ecosystems components. In the second part of our research we present the entrepreneurs perception about information technology entrepreneurial ecosystem in the west region of Romania. Our objective was to find out the entrepreneurs point of view about opportunities and influences that they perceive in the regional entrepreneurial ecosystem

Open access