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ISSN: 2344 - 102X
ISSN-L: 2344 - 102X
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Volume 6, Number 2, Year 2018
| 2. CREDIT PURCHASE MODALITY THROUGH DENOMINATED SYSTEM CALLED "SMALL PAYMENTS". HOW DOES IT AFFECT DOMESTIC ECONOMY? | 
Download | | Author(s): Vicky Diaz-aquino, Arturo Garcia-santillan, Jesica J. Ramos-hernandez, Genesis Rivera-novelo | | DOI: 10.4316/EJAFB.2018.621 | | Abstract: The aim of the study is to show, through three hypotheses supported by financial mathematical theory, how is the behavior of the Mexican household when making purchases of white goods. For this, an interest rate (i), the capitalization (m) and the time of the debt (n) are established according to each departmental store included in this study; all this to be able to compare through amortization tables how are the payments. The results are compared in order to show and identify the effect that credit purchases have with the called "small payment schemes" for the Mexican household. The benefit of this analysis is to show the possibility for Mexican families of discerning the most convenient option when acquiring this sort of assets so that they are really capable of paying on time. | | Keywords: Credit Payment, Loan Bank, White Goods, Mexican Household Economy |
| 3. THEORETICAL AND PRACTICAL ASPECTS ON THE AUDIT PROJECTS FOR TANGIBLE ASSETS |
Download | | Author(s): Mihai Popovici | | DOI: 10.4316/EJAFB.2018.622 | | Abstract: Audit evidence is the information used by the auditor to issue the conclusions on which the auditor's opinion is based. They include both the information contained in the accounting records, financial statements and other relevant information. An essential step in the audit mission is the collection of audit evidence. This research has described the audit procedures to obtain audit evidence for auditing tangible assets. At the same time, the author has classified the audit evidence required for the audit of tangible assets in dependence of their credibility. Taking over the experience of other researchers, the author has formulated some solutions to obtain qualitative audit evidence. | | Keywords: Audit, Tangible Assets, Audit Evidence, Audit Procedures, Audit Documentation |
| 4. THEORETICAL AND PRACTICAL CONSIDERATIONS ON FISCAL POLICY IN THE FIELD OF DIRECT TAXATION IN THE MEMBER STATES OF THE EUROPEAN UNION |
Download | | Author(s): Maria Felicia Chirculescu | | DOI: 10.4316/EJAFB.2018.623 | | Abstract: Direct taxes are important sources of budget revenue in each Member State of the European Union because it mainly concerns the taxation of profits and the taxation of income from individuals from any source. European fiscal policy can not impose standardization on the tax systems of the Member States, but the tax policy promoted is designed to make national tax systems compatible for the Member States of the European Union and for those acceding to integration on the basis of the common objectives established by the Treaties concluded. | | Keywords: Fiscal Policy, Direct Taxes, European Union. |
| 5. BRAND POLICY AND ACCOUNTING ADVICES IN NATIONAL AND INTERNATIONAL LEGISLATION |
Download | | Author(s): Cristina Gabriela Cosmulese | | DOI: 10.4316/EJAFB.2018.624 | | Abstract: The brand represents the key element for a company's development, because it helps maintaining a long-term relationship between the consumer and the producer. The assessment of a brand implies some disadvantages and this leads to an ample research of the European and National Legislation in order to clarify the application context of the brand policy. The advantage of discovering a new brand's assessment method will influence the consumers' attraction, the products' modernization and eventually maximizing profits with low costs. In this way, the next step after the legislation's evaluation is to establish that the application of the brand policy will motivate the companies to extend the products' distribution area on the local, national or even international plan. | | Keywords: Brand Policy, Accounting Treatment, IAS 38, OMFP 1802/2014 |
| 6. FINANCIAL-ACCOUNTING INFORMATION IN THE GLOBALIZATION ERA |
Download | | Author(s): Constantin Strapuc, Elena Hlaciuc | | DOI: 10.4316/EJAFB.2018.625 | | Abstract: Accounting quantifies, processes and transmits financial information about an economic entity, thus being recognized as a true informational system. Globalization, a multifaceted phenomenon with complex economic, social and political effects, has induced the need for normalization and harmonization of accounting information, in order to establish at international level "a unanimously accepted accounting language" as a basis in the construction of financial statements, allowing the transposition of the understanding "local" reality at the "universal" level. There have been developed accounting standards that set out general rules and specific accounting treatments. The main aim of the research was to capture the main sequences of the transformations produced in the financial-accounting information systems by the changes induced in the economy by the amplification of the phenomenon of globalization. | | Keywords: Globalization, Financial-accounting Information, Normalization And Accounting Harmonization, International Accounting Standards. |
| 7. PRIVATE PENSIONS SCHEME - LINKING ELEMENTS BETWEEN ECONOMIES AND LONG-TERM INVESTMENTS |
Download | | Author(s): Anisoara Apetri | | DOI: 10.4316/EJAFB.2018.626 | | Abstract: Private pensions can help to find solutions to the demographic challenges of aging populations and changing patterns of workers, and to ensure adequate replacement rates in the future as a complement to state or occupational pensions. The purpose of the research is to analyze and to present the characteristics of the private pension system in Romania. Therefore, the research includes the collection of data on the post-crisis pension system from Romania and their analysis by applying statistical methods. The research results are relevant to all financial specialists and researchers, and I believe that the paper contributes to a synthetic and critical view of existing literature. | | Keywords: Pension System, Public Pensions, Private Pensions |
| 8. COMPARATIVE ASPECTS REGARDING THE RECOGNITION OF TANGIBLE FIXED ASSETS ACCORDING TO NATIONAL AND INTERNATIONAL REGULATIONS |
Download | | Author(s): Marian Socoliuc | | DOI: 10.4316/EJAFB.2018.627 | | Abstract: The present paper aims to comparatively present the criteria for the recognition of fixed tangible assets in the accounting of public institutions in Romania, in the context of the implementation of international public sector accounting standards (IPSAS) in national legislation. The paper analyses the extent to which the Public Sector Accounting Standard - IPSAS 17, incidental to the theme, is implemented in the national law in terms of recognition of fixed assets, initial costs and subsequent costs. | | Keywords: Fixed Assets, Recognition, Assessment, Convergence, IPSAS |
| 9. THE BUSINESS FINANCING THROUGH FACTORING |
Download | | Author(s): Camelia Mihalciuc | | DOI: 10.4316/EJAFB.2018.628 | | Abstract: Cash flow is the key to the success of every business. As a company grows and needs to speed up cash flow, small businesses generally first turn to banks for financing. However, in the last years, banks can not always fully accommodate a firm's financing needs due to the tough credit standards. Given the circumstances, alternative financing options (such as accounts receivable factoring) can provide the working capital the companies need. Factoring - also known as debt factoring - is a business and also a financing method in which a factoring firm buys debts resulted from the supply of goods and services. In other words, factoring is the cash-management tool of choice for many businesses. Starting from these considerations, an important part of the paper will contain the most significant aspects regarding the evolution of factoring globally during 2007-2017, more precisely in Europe and abroad, as well as the evolution of the volume of factoring operations in Romania. | | Keywords: Financing, Domestic Financing, International Financing |
| 10. PRODUCTION ACTIVITY - IMPORTANT RANK OF THE STATE ECONOMY |
Download | | Author(s): Marius Ciubotariu, Stefan Avdei | | DOI: 10.4316/EJAFB.2018.629 | | Abstract: Production activity continues to have the most significant weight on gross domestic product growth within a state. In Romania, the industry has undergone several positive and negative developments. However, this activity creates the most jobs. The industry is at the basis of other economic sectors because production adds added value to the raw material and, as a consequence, it has its final product. Based on these considerations, we have proposed that in this paper we should deal with the evolution of the industry and the importance of the production activity in the economy of a country. | | Keywords: Secondary Sector, Industry, Production Activity, SWOT Analysis |
| 11. THE ISSUES OF ASSURANCE ON SUSTAINABILITY REPORTING |
Download | | Author(s): Dorel Mates, Svetlana Mihaila, Simona-maria Tanasa (brinzaru) | | DOI: 10.4316/EJAFB.2018.6210 | | Abstract: At present, the external assurance of sustainability reporting should be the last step in the corporate reporting process but it is just a voluntary matter from companies. This article presents the issue of external asurance in case of company sustainability reporting. Although, international organizations, such as the International Integrated Reporting Council or Global Reporting Initiative, have been involved in this process, so far, there is no clear-cut approach to external sustainability reporting. Moreover, there is a question of combined insurance for integrated reports that would help increase the credibility of these types of reports. External insurance remains at the discretion of companies, but in the future it must become mandatory to increase the credibility and quality of corporate reporting. | | Keywords: Sustainability, Assurance, Sustainability Reporting, Integrated Reporting |
| 12. ASPECTS REGARDING THE CORRESPONDING BETWEEN ADJUSTMENTS OF FIXED ASSETS IN ACCORDANCE WITH THE ACCOUNTING POLICY MANUAL |
Download | | Author(s): Monica Laura Zlati, Valentin Marian Antohi, Petronela Cardon | | DOI: 10.4316/EJAFB.2018.6211 | | Abstract: Value adjustments of property, plant and equipment are the revaluation of fixed assets at fair value following an evaluation process by qualified experts who have specific training and are empowered to report an opinion on the fair value of the assets. The study aims at conceptually assessing the need for adjustments after dividing the fair value reporting of the taxable amount and consolidating the position of the company, reflected by the financial statements, by transmitting current information on the value of the fixed assets. This issue will be the subject of a questionnaire sent to the managers of financial entities, a questionnaire covering the subject field, the results can be disseminated to obtain pertinent conclusions regarding the proposed research model. | | Keywords: Fair Value, Fixed Assets, Financial Reporting, Adjustment |
| 13. EMERGENCY ECONOMIES: BRICS |
Download | | Author(s): Veronica Grosu | | DOI: 10.4316/EJAFB.2018.6212 | | Abstract: The world economy has been marked in recent years by sustained progress of developing
countries. These countries share high demographics and strong GDP growth due to economic
policies that aim to modernize industry and invest in research and innovation. Brazil, Russia,
India, China and South Africa are the four countries, identified with the acronym BRICS - with a
gross domestic product that has seen significant growth rates over the past 25 years. The BRICS
countries are characterized by considerable territorial expansion, a large population, and a
sustained rhythm of wealth-producing industry. | | Keywords: BRICS; Emerging Economy; GDP. |
| 14. THE ROLE OF CORPORATE WEBSITE IN IDENTITY AND IMAGE RELATIONSHIP |
Download | | Author(s): Mustapha Tosin Balogun | | DOI: 10.4316/EJAFB.2018.6213 | | Abstract: The World Wide Web (WWW) - the platform that host corporate website - is considered an important medium that possess unique characteristics that differentiates it from traditional corporate and marketing communication channels. This article sets out to show understanding on why firms use their websites as a corporate communication tool for corporate identity creation and corporate image formation. To achieve this objective, activity theory by Vygotsky (1978); Newcombe, (1953) communication model and van Riel (1993) corporate identity, strategy and corporate image model are used as basis to theorise the tri-partite relationship between corporate identity, corporate website and corporate image. In the course of this paper, three important findings were generated. Firstly, it is established that the unique interactive characteristic of a corporate website provides outstanding strategic contribution to the creation of corporate identity and the management of corporate image. Secondly, the ability to support previously established theory that corporate website is a mediator in the relationship between firms and stakeholders. This paper posits that firms use the corporate website to inform, remind and persuade stakeholders in the development and management of corporate identity and corporate image respectively. Finally, a synthesis of the three distinctive models led to the development of six basic factors that express why firms use corporate website to express corporate information. | | Keywords: Corporate Identity, Corporate Image, Mediation, Strategy, Communication |
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