Programme

Transcription

Programme

ACADEMY OF ECONOMIC
STUDIES
BUCHAREST
FACULTY OF ACCOUNTING
AND MANAGEMENT
INFORMATION SYSTEMS
PROGRAMME
2nd International Conference
Accounting
and
Management Information Systems
„Value creation and globalization”
June 21-22, 2007
Bucharest, Romania
AMIS 2007
Organizing Committee
Pavel NĂSTASE
Raluca DIMITRIU
Cătălin ALBU
Nadia ALBU
Ofelia ALECA
Daniela CALU
Camelia LUNGU
Florin MIHAI
Camelia VASILESCU
International Scientific Committee
President
Pavel NĂSTASE
ASE Bucharest
RO
INTEC Paris
INTEC Paris
University College Dublin
University of the West of Timişoara
ASE Bucharest
INTEC Paris
University Marmara
University of Amsterdam
University Transilvania
University Bowling Green
University Babeş-Bolyai, Cluj
INTEC Paris
University of Orleans
University „A.I.Cuza” Iaşi
ASE Bucharest
University of Geneva
University of Dayton
ASE Bucharest
ASE Bucharest
University Babeş-Bolyai, Cluj
University „A.I.Cuza” Iaşi
ASE Bucharest
FR
FR
IE
RO
RO
FR
TR
NL
RO
US
RO
RO
FR
FR
RO
RO
CH
US
RO
RO
RO
RO
RO
RO
Members
Alain BURLAUD
Patrick DALION
Peter CLARKE
Nicoleta FARCANE
Niculae FELEAGĂ
Philippe GERMAK
Oktay GÜVEMLI
Allan HODGSON
Dorin LIXĂNDROIU
Alan LORD
Dumitru MATIŞ
Mihaela MUNTEAN
Jean-Michel NICOLLE
Marc NIKITIN
Dumitru OPREA
Mihai RISTEA
Bernard RAFFOURNIER
Donna STREET
Brânduşa ŞTEFĂNESCU
Petru ŞTEFEA
Ilie TAMAŞ
Adriana TIRON TUDOR
Alexandru ŢUGUI
Gheorghe VÂLCEANU
CONFERENCE PROGRAMME
Thursday, June 21st 2007
08:30 – 09:30
Registration – Aula Magna hall
OPENING CEREMONY - Aula Magna
Messages:
Ion Gh. ROŞCA
Rector of the Academy of Economic Studies,
Bucharest
Pavel NĂSTASE
Dean of the Faculty of Accounting and
Management Information Systems
Donna STREET
President of the International Association
for Accounting Education and
Research (IAAER)
09:30 – 10:00
Ion MIHĂILESCU
President of the Chamber of Financial of
Auditors of Romania (CAFR )
Marin TOMA
President of the Body of Expert and Licensed
Accountants of Romania (CECCAR)
Ronnie SMITH
Director ATC International
Dan DAMIAN
General Manager of CIEL Romania
Ion ANGHEL
President of the National Association of
Romanian Valuers (ANEVAR)
6
Conference programme
Thursday, June 21st 2007
Plenary Session – Aula Magna
Bernard RAFFOURNIER
University of Geneva, Switzerland
Is publishing a fair game?
Donna STREET
University of Dayton, USA
IFRS Application in Europe and Beyond
10:00 – 13:00
Allan HODGSON
University of Amsterdam, Netherlands
Corporate Governance and Directors
Trading
Roger ACTON
Association of Chartered Certified
Accountants (ACCA)
Accountants adding value to business
13:00 – 14:00
Lunch
14:00 – 16:30
Concurrent Sessions
16:00 – 17:00
Coffee break
17:00 – 18:30
Concurrent Sessions
19:00 – 22:00
Gala Dinner
7
Friday, June 22nd 2007
Plenary Session – hall 2013
Alain BURLAUD
INTEC Paris, France
Quel droit comptable pour les PME?
Marc NIKITIN
08:30 – 10:30
University of Orléans, France
A quoi cela sert-il de calculer des coûts ?
Produire des informations, de la discipline
ou de la confiance?
Alan LORD
University Bowling Green, USA
IT governance: global issues
Oktay GÜVEMLI
Marmara University, Turkey
12th World Congress of Accounting
Historians
10:30 – 11:00
Coffee break
11:00 – 13:00
Concurrent Sessions
13:00 – 14:00
Lunch
8
Concurrent Sessions
Education Panel: Harmonizing
curriculum with International
Education Standards – Conference
hall “Robert Schuman” (floor 2)
Chairpersons:
Clare MINCHINGTON
ACCA Director of Education, Learning and
Development
Alain BURLAUD
Director INTEC Paris, France
Panellists:
Recep PEKDEMIR
Member of the IAAER Executive Committee
14:00 – 16:00
Jean Michel NICOLLE
INTEC Paris, France
Bernard RAFFOURNIER
Marin TOMA, CECCAR
Ion MIHĂILESCU, CAFR
Dumitru MATIŞ
Babeş-Bolyai University, Cluj Napoca
Petru ŞTEFEA
West University of Timişoara
Pavel NĂSTASE
Mihai RISTEA
Niculae FELEAGĂ
Ilie TAMAŞ
Gheorghe VÂLCEANU
Academy of Economic Studies, Bucharest
16:00 – 17:00
Closing ceremony - Aula Magna
CONCURRENT SESSIONS PROGRAMME
Thursday, June 21st 2007, 14:00 - 16:30
Section
number
Section
Chairperson
Hall
I
Management
accounting and
globalization
Marc NIKITIN
Niculae FELEAGĂ
0319
II
Comparative
accounting
Donna STREET
Adriana TIRON
TUDOR
Conference
hall “Robert
Schuman”
(floor 2)
III
Accounting
information
Allan HODGSON
Mihai RISTEA
0321
Issues in
performance
measurement
Management
information
systems I
Bernard
RAFFOURNIER
Gheorghe VÂLCEANU
0320
Philippe GERMAK
Ilie TAMAŞ
0317
Alan LORD
Pavel NĂSTASE
0420
IV
V
VI
IT security
10
Concurrent sessions programme
Thursday, June 21st 2007, 17:00 - 18:30
Section
number
Section
Chairperson
Hall
VII
Costing
Jiri STROUHAL
0317
VIII
Accounting and
environment
Nicoleta
FARCANE
0321
IX
Intangibles
Adriana TIRON
TUDOR
0319
X
Business
Intelligence
Dorin
LIXĂNDROIU
0420
XI
Issues in
financial
accounting
Dumitru MATIŞ
0320
11
Friday, June 22nd 2007, 11:00 - 13:00
Section
number
Section
Chairperson
Hall
XII
Valeur,
globalisation et
compatibilité
Jean-Michel
NICOLLE
0421
XIII
Law I
Brânduşa
ŞTEFĂNESCU
2514
XIV
Law II
Raluca DIMITRIU
2516
XV
Issues in
management
accounting
Alain BURLAUD
Conference
hall “Robert
Schuman”
(floor 2)
XVI
XVII
Audit and
corporate
governance
Taxes and
public
accounting
Recep PEKDEMIR
0320
Ümit GÖKDENİZ
0321
XVIII
Financial
analysis
Petru ŞTEFEA
0319
XIX
E-business
Mihaela MUNTEAN
0317
XX
Management
information
systems II
Alexandru ŢUGUI
0420
12
Friday, June 22nd 2007, 14:00 - 16:00
Section
number
XXI
XXII
XXIII
Section
Capital market
and corporate
governance
research in
Eastern Europe
PhD Students
Management
Information
Systems
PhD Students
Accounting
Chairperson
Hall
Allan HODGSON
0320
Alan LORD
0321
Marc NIKITIN
0319
MANAGEMENT ACCOUNTING
AND GLOBALIZATION
Chairpersons:
Marc NIKITIN
Niculae FELEAGĂ
Academy of Economic Studies, Bucharest, Romania
Hall 0319
Thursday, June 21st 2007, 14:00 - 16:30
14
Management accounting and globalization
Value engineering value management innovation
in automotive and construction companies: a
Malaysian multiple case scenario
Aliza RAMLI
Suzana SULAIMAN
Faculty of Accountancy, Universiti Teknologi MARA SAAS Building,
Malaysia
Falconer MITCHELL
Management School and Economics, University of Edinburgh,
United Kingdom
ABSTRACT
Value Engineering Value Management (VEVM) is a value creation
tool that focuses on maximizing value of products, processes,
projects, or services within a total system. While the literature on
VEVM covers various issues, however it lacks comprehensive studies
on VEVM adopting variables and its adoption by automotive and
construction companies. This paper describes and explains the
nature, extent of adoption, and effects of VEVM innovation in the
context of a Malaysian automotive component manufacturing and
construction companies. Multiple-case study method was undertaken
and data was collected from multiple sources of evidence. Data from
each case study was analyzed separately and are then, compared,
and contrast using constant comparative analysis method. The
findings provide evidence as to why and how companies adopts
VEVM, the influential adopting variables and the effect and extent
of adoption to gain competitive advantage and create value for
companies which is vital for its continued success.
KEYWORDS
Value engineering, value management, value creation, innovation,
multiple-case study
15
Typical and atypical in competitors accounting
Mihai RISTEA
Corina Graziella DUMITRU
Alina Mihaela CURPĂN
ABSTRACT
The paper proposes to present the precious value of the competitors
accounting in the globalization context. One of the paradoxes of our
days is that the only constancy seems to be the inconstancy. It is quite
difficult to manage a business while the globalization produces
enormous opportunities and risks and the technology goes faster. In the
new economic environment, every entity should have a data base with
financial and commercial information concerning the present and the
potential competitors. The competitors accounting come conferring to
the economic entity the competitor’s advantage they need, which
represents the key of the success in business.
In the specialized Romanian literature we found very vague traces of
the competitors accounting. That’s why our propose is to highlight the
advantage of this type of accounting by the review of the international
known aspects of the problem. This should be concluding in the
elaboration of a competitors’ managerial informational model. This
subject provokes to reflections and also, it presents interest to a
various series of users, which implies a redoubtable advantage against
the disloyal concurrence.
KEYWORDS
Competitor accounting, competitor analysis, competitive advantage,
creating value, cost, price
16
Strategic financial management and managerial
accounting of the firms in the Czech Republic
Milan HRDÝ
Michaela HOROVÁ
University of West Bohemia in Pilsen, Czech Republic
ABSTRACT
Strategic financial management and managerial accounting represents
a very important part of the management of the firm. It is necessary for
the going-concern principle and for the survival of the companies under
very complicated economic conditions. Strategic financial management
includes putting forth the firm’s goals to motivate the organization and
provide benchmarks. The organization structure of the firm must be well
organized and also support the strategic financial management. The
failures in strategic financial management or its missing could lead to
the bankruptcy of the firm. For that reason we have organized the
questionnaire to find out the real situation of the strategic financial
management in the Czech Republic. The questionnaire had four parts
and was sent to 400 medium firms in the Czech Republic and 290
questionnaires returned. The first part of questionnaire is about the
strategic management principles, the second about investment decisions
and capital structure. The third part solves the system of financial plans
and budgets and the fourth the information system. The last part of
questionnaire tax policy and strategic financial management. The
results were relatively surprising, because a large amount of companies
consider the strategic financial management and understand its basic
principles. On the other hand there is a few specific areas where are
application problems and it is necessary to inform companies about
them and help with their solutions.
KEYWORDS
Finance, strategic management, questionnaire research, companies
17
Does the line between financial and management
accounting really blur? An exploratory study on
the Romanian accounting profession
Cătălin-Nicolae ALBU
Nadia ALBU
ABSTRACT
Today’s accounting profession faces a number of challenges as
raised by the current business environment, primarily due to the
globalization process and the development of information
technologies. Romania is currently using a two-cycle accounting
system, with management accounting circuit being separate from the
financial accounting circuit. Consequently, our study aims to explore
within the Romanian accounting profession the reality of a
specialization of accounting positions according to the circuit to
which they presumably belong to (either financial or management
accounting), in a competency-based approach. The research method
employed is job-offer analysis, as job offers reflect organizational
practices stating the required competencies for the specific positions.
We conclude that the state of the accounting profession in Romania
is one of transformation and hybridization.
KEYWORDS
Accounting profession, Romania, job offers, hybridization
18
Reconsideration of cost-value couple in
management accounting
Corina GROSU
Alina ALMĂŞAN
West University of Timişoara, Romania
ABSTRACT
The purpose of this paper is to emphasize, from a conceptual point of
view, the impact regarding the value reasoning in management
accounting. Given that it is the result of a literature review, the
paper marks out that the present difficulties of management
accounting can be charged to her incapacity of taking into
consideration the evolution of value concept.
The value chain must be recognised as the foundation of value
interpretation. This is a strategic interpretation that represents the
basis of the performance interpretation ensemble, of value creation,
in totally dissonance with value added concept which is the basis of
actual management accounting.
KEYWORDS
Cost, value, utility, value chain
19
The concept of total quality management in
accounting
Irina PROTOPOPESCU
Corina IOANĂŞ
Iulia JIANU
Adriana Florina POPA
Gabriel RADU
ABSTRACT
While most executives rely on their reasoning and on the idea
promoted by the modern management concepts, it is generally
accepted that the possibility of assessing the economic benefits either
in advance or even retrospectively is almost impossible. This paper
intends to present a model for explaining and predicting the
management decisions using the accounting information. For serving
this purpose, we bring to attention the concept of the Total Quality
Management, analyzing it from an organizational perspective. The
developments, the application and the assessment of Total Quality
Management techniques inside the enterprise result in a more
effective utilization of specific knowledge in decision making leading
to an increased efficiency an in the same time the improvement of
quality and performance. The concept proposed to analysis is not
new, what is new is its connection to accounting as a relevant
provider of information.
KEYWORDS
TQM, accounting information, green accounting, product cost,
sale price
20
COMPARATIVE ACCOUNTING
Chairpersons:
Donna STREET
University of Dayton, USA
Adriana TIRON TUDOR
Babeş-Bolyai University, Cluj-Napoca, Romania
Hall “Robert Schuman”
Thursday, June 21st 2007, 14:00 - 16:30
Comparative accounting
22
IFRS 2005 in Turkey; Can We See the Evidences
on the Financial Reports of the Companies Listed?
Recep PEKDEMIR
Asli Gunduzay TUREL
School of Business, Istanbul University, Turkey
ABSTRACT
The Turkish economy has been emerging one during the last
decades. So, has been the Turkish Capital Market. This study focuses
on the IFRS applications in 2005 in Turkey. Particularly has dealt
with the following research questions: First, what has been the
position statement of the goodwill and the deferred taxes on the
financial statements investigated? Second, what has been the
importance of the amounts of the goodwill and the deferred taxes on
financial statements investigated? In order to find out the reasonable
answers to the questions above, the financial reports IFRS applied of
the top 100 companies listed on the Istanbul Stock Exchange have
been analyzed. Data available on the web pages were obtained from
financial reports of those. The empirical research was conducted
through a statistical software package. The financial statements as of
December 31, 2003, 2004, and 2005 have been covered by the study.
The results have shown the impacts of the items covered in the study
on the financial positions of the companies investigated.
KEYWORDS
IFRS, Emerging Economies, Goodwill, Deferred Taxes
23
Recent changes in the structure of accounting
regulation in Romania and Hungary
Szilveszter FEKETE P.P.
Dumitru MATIŞ
Babes-Bolyai University of Cluj-Napoca, Romania
János LUKÁCS
Corvinus University of Budapest, Hungary
ABSTRACT
Although from political-economic point of view both countries seem
to be similar (communist regime, reform period, EU integration),
from the standpoint of accounting regulation they clearly differ,
since Hungary adopted the German model and Romania the French
one. The target is similar again: implementing IAS/IFRS in the
national accounting rules.
This paper explores the latest changes in the accounting thought and
regulation in both countries taking in consideration the pressure of
globalization (adoption of IFRS), the specificity and competitiveness
of national economy.
Since we draw our conclusions primarily from Romanian point of
view and also have in mind our experiences, we show possible
scenarios for future development learning from the successes and
failures of the Hungarian accounting regulation.
KEYWORDS
Accounting regulation, accounting system, accounting theories,
IFRS, European Directives
24
Are the companies managed by values? a research
on the large scale companies in Turkey
Ferit ÖLÇER
Mehmet ÖZBIRECIKLI
Mustafa Kemal University, Department of Business, Hatay, Turkey
ABSTRACT
Management by values (MBV) is a way to gauge whether or not a
company is generating value for its shareholders and to measure the
difference between a return on equity and the cost of capital. MBV is
seen as a process of striving to achieve this target by managing the
elements that create a company’s economic value, whether the
elements are tangible or intangible. The purposes of the research
are: (1) to determine whether or not the large-scale Turkish
companies implement MBV, (2) to determine to what extent these
companies employ financial accounting performance metrics of
MBV, (3) to determine whether or not they collect the information for
assessing the long-term financial impacts of upholding values, (4) to
present suggestions concerning the successfully implementation of
MBV, based on the research findings obtained. Data were collected
via questionnaire and analyzed by SPSS program for the purposes of
the present research. The main finding of the research shows that the
values are seen by the companies as a critical component of
establishing its license to operate.
KEYWORDS
Value creation, management by value, financial performance
measurement
25
Comparative study between 7th European
Directive and IFRS concerning the treatment of
goodwill
Adriana TIRON TUDOR
Victor MULLER
Babes Bolyai University, Cluj Napoca, Romania
ABSTRACT
Romanian groups of companies have to publish consolidated
financial statements in accordance with the 7th European Directive,
or if they are listed, in accordance with IFRS, thus complying with
the EU Regulation 1606/2002. A highly actual, and far-reaching
issue regarding consolidated accounts is goodwill, whose
recognition and measurement can significantly influence the value of
the reporting group. Goodwill is a long been debate subject in
accounting. Thus we intend to continue the debate by a comparative
study regarding the treatment of goodwill according to both sets of
regulations. We planed for our research to study the appropriate
technical literature, the relevant legislation in the field of business
combinations and the studies on this topic published by the major
consultancy companies. The objective of our study is to reveal the
differences and similarities between the two approaches of goodwill,
highlighting the influences of these treatments on the consolidated
accounts. The conclusion will consist in analyzing the impact of the
changes related to the goodwill treatment which have to be made by
first-time adopters of IFRS, which previously prepared consolidated
accounts in accordance with OMFP 1752/2005.
KEYWORDS
IFRS, goodwill, 7th European Directive, Romania
26
Strategies and accounting policies regarding the
assurance contracts for employee benefits
Daniela Artemisa CALU
Camelia Iuliana LUNGU
Elena Mariana GLĂVAN
Raluca Gina GUŞE
ABSTRACT
We begin our research from the accounting convergence process
induced by globalization. The theme of assurance using pension
benefits plans needs to establish reconciliations determined by the
differences in accounting and reporting standards. We review the
requirements of IFRS and US GAAP. Using positive research we
verify six sets of hypotheses referring to termination benefits and
sensitivity in correlation to the reporting basis, the industry and the
residence country of the companies. To verify these hypotheses we
use statistical processing of data extracted form the financial
statements of companies from Fortune Global 500 classification. In
order to find any correlation between independent and dependent
variables Chi-square test (χ2) was used. We used chi-square to test
the independence and we computed χ2 using the Statistica soft. We
present our results in the conclusion of this paper and we outline the
framework for future research.
KEYWORDS
Employee benefits, pension
accounting policies, disclosure
plans,
accounting
convergence,
ACCOUNTING INFORMATION
Chairpersons:
Allan HODGSON
Mihai RISTEA
Hall 0321
Thursday, June 21st 2007, 14:00 - 16:30
Accounting information
28
The role of accounting information systems for the
creating value in the companies and effects of
globalization. A case study in selected
big Turkish companies
Ümit GÖKDENİZ
Marmara University, Turkey
Ümmühan ASLAN
Anadolu University Vocational School, Turkey
ABSTRACT
The Accounting Information Systems provides the knowledge and
with which to meet the challenges and opportunites.It has been one
of the major subject in the accounting systems within the todays
globalization.Information technology plays significant key role
companies daily activities.Data-base and information are among a
company’s important assets that concern about data reliability and
securitiy are relevant not only to accountants but it is also to all
information systems professionals.Accounting information Systems
are a kind of subsystem within the organizations Management
Information Systems.Information technology plays various
significiant role in business which getting to be more
effective.Therefore we examined AIS as an
important
development.The aim of this case study seeks answer :The role of AIS
on creating value in companies and also is to observe using
Accounting Information Systems for creating value in Selected Big
Turkish Companies.
KEYWORDS
Information Technology, Accounting Information Systems (Ais),
Management Information Systems (Mis),Creating Value,Data-Base
29
The accounting information in Romania of
nowadays between financial accounting and
taxation accounting
Ovidiu MEGAN
Nicoleta FARCANE
Leonora CACIUC
ABSTRACT
In Romania of our days financial accounting and taxation
accounting are not the same. They have different objectives, are
subject to different rules and serve different purposes.
Financial accounting involves the preparation of information for the
purpose of decision-makers while the taxation accounting’s main
purpose is to raise revenue, being an excellent instrument of
government economic and social policy.
The aim of our study is to research accounting literature and
practical experience of Timiş county companies to gain an inside
into the basis and form of this divergence and to the main creative
accounting techniques, as results of this divergence. For the
achievement of the proposed objectives the authors based their
opinion on a research study by questionnaire realized at
county level.
KEYWORDS
Financial accounting, tax accounting, creative accounting, EU
Directives, IFRS
30
On the communicative function of financial
accounting reporting: evidence from Romania
Mihaela IONAŞCU
ABSTRACT
It has been argued (Crowther, 2002a) that the purpose for the
publication of annual reports, especially by publicly quoted
companies, is not merely to satisfy the statutory requirements.
Annual reports are actually thought of as communicating vehicles
employed as discursive practices between managers and the
company’s stakeholders. After 40 years of communism, it is,
however, questionable that the managers of Romanian quoted
companies have fully acknowledged the communicative function of
financial accounting reporting. Accordingly, the purpose of this
paper is to perform an empirical investigation of the quality of
accounting disclosure provided by Romanian companies listed at
Bucharest Stock Exchange. To gather data we have surveyed the web
sites of listed Romanian companies. The results showed that, overall,
Romanian businesses incurred mediocre scores for quality of
accounting disclosure. The results also showed that companies with
better financial information disclosure policies had been more
appealing to investors, incurring higher values of transactions.
KEYWORDS
Accounting disclosure, disclosure policies, communicative function
of financial accounting, voluntary accounting disclosure
31
Reporting of Commercial Insurance Companies:
Evidence from the Czech Republic
Jiřina BOKŠOVÁ
University of Economics, Prague, Czech Republic
ABSTRACT
The subject of insurance companies is to provide insurance
protection based on commercial principles. All changes in the
society are directly reflected in the insurance activity. New risks
appear and therefore new insurance products appear as well. The
insurance business intervenes into all areas of the economic and
social life in the Czech Republic. Insurance companies cannot be
treated only as companies offering insurance protection, but also as
important investors who, as a result of their activity, dispose with
temporary available resources of their customers. As situations and
existence of time discordance between provisions creation and their
usage are occasional, insurance companies carry business with these
provisions resources. This paper also deals with the problem of
insurance and reinsurance in the insurance industry.
KEYWORDS
Insurance, financial placement, premium, technical reserves,
reinsurance
32
The relevance and quality of the accounting
information in the managerial decisions
Mariana GLĂVAN
Mădălina BRĂESCU
Valentin DUMITRU
Gabriel JINGA
Ramona LAPTEŞ
ABSTRACT
The successful process of managerial decision-making can be as
complex as it is critical to your company’s future. The decisionmaking process must generate in the end sustainable competitive
advantages so you can dominate old and new markets. Done
correctly, the process includes extensive competitive analysis,
internal and external. And only using relevant and qualitative
accounting information can you plan and execute corporate
initiatives that lead to higher returns, higher growth, and, ultimately,
increased market value. Without this information, you may overlook
key ingredients to successful managerial decision-making and end up
struggling to compete without differentiation. The hypothesis of our
research is that you cannot make successful decision without
beneficiating of significant accounting information. In this article we
aim to establish a questionnaire to interview some company
managers and analyze the type of accounting information used in the
decision-making process.
KEYWORDS
Accounting, information, quality, decision-making, control
33
The standardized financial reporting and the
impact upon the credibility of the information used
in the investment decisions
Miruna-Lucia NACHESCU
ABSTRACT
In the global financial world, the multitude of different information
sources makes it difficult for the investors to choose the right
information source. The credibility of the source alone does not
obligatory transform the information communicated in a credible
one. We try to identify the impact that differences in the financial
reporting have upon the credibility of the source. We also try to
explain why many times, investors do not fully use the information in
the financial statements, in the notes to the financial statements or in
the auditors’ report. We consider that in designing the format of the
output documents of the information financial system of the company
what is most important is to adapt this format to the needs of the
final users and by using international financial standards, to exclude
the possible misinterpreting. In order to avoid financial risk and
contagion risk, on the more and more global financial markets we
need to have strict standards that apply to all participants in what
concerns the financial reporting rules. Still, we consider that the
applying of financial reporting standards remains the “Achilles
heal” of the global financial market.
KEYWORDS
Credibility of the
financial systems
source,
financial
reporting,
information
34
ISSUES IN PERFORMANCE
MEASUREMENT
Chairpersons:
Bernard RAFFOURNIER
Gheorghe VÂLCEANU
Hall 0320
Thursday, June 21st 2007, 14:00 - 16:30
Issues in performance measurement
36
Reporting and report sustainable
development indicators
Mihaela DUMITRANA
Chiraţa CARAIANI
Cornelia DASCĂLU
Florentina BERBEC
ABSTRACT
Sustainable development is a new and important concept for all
countries of this world. For European Union sustainable
development’s main objective is to safeguard the earth’s capacity to
support life in all its diversity and is based on the principles of
democracy, gender equality, solidarity, the rule of law and respect
for fundamental rights.
A Sustainable Development Strategy (SDS) was adopted by the
European Council in Göteborg (2001) that was completed in 2002 in
Barcelona. As a support for this strategy, the European Council in
June 2005 approved a Declaration on Guiding Principles for
Sustainable Development where objectives and principles were
presented. For the evaluation of EU SDS a set of indicators was
selected.
The purposes of this communication are:
-
to present the pyramids of indicators;
to reveal possibilities for indicators calculation;
to assess accounting information for indicators reporting;
to prepare micro and macro reports.
KEYWORDS
Sustainable development,
information, communication
reporting,
indicators,
accounting
37
Sensitivity analysis for forecasting the cost and
performance of the enterprises in the construction
industry
Vasile ROBU
Adrian ANICA-POPA
ABSTRACT
The focus of the current research is the forecasting of the cost in
uncertain condition and the implications on the profit of the firms in
the construction materials field. The type of the research is a study
which aims to identify critical variables which influence the cost, and
the calculation of the probability to attain a value, and identification
the thrusting interval for the evolution of the cost, using stochastic
models developed by Monte Carlo simulation. In the same way has
been achieved a sensitivity analysis over the profit’s evolution of the
organization in conditions of variables modification: demand,
market share, price etc. All these elements are conditioned by a large
number of economic, political and social criteria. The result of the
research shows the existence of certain components which significant
influence the cost, and another category of components with an
insignificant influence. In conclusion, the modeling performances,
costs and stochastic simulations may offer a high potential for
prediction and optimization of costs and also for increasing
organization’s performances.
KEYWORDS
Sensitivity, cost, performance, stochastic model, forecasting
38
Financial performance indicators between utility,
selfishness and manipulation technique
Flavius Andrei GUINEA
Cristina Maria STANCIU
ABSTRACT
Capital may have alternative uses so managers should be
preoccupied if its return exceeds its cost. The necessity to determine
the return on the capital employed is generated by the need to
promote the control of the capital budgeting process. Without
measurement of the effective return on capital, there is little
incentive for managers to estimate future cash flows. Those measures
drive the attention of the managers to the reduction of inventories
and receivables. The objective of this study is to show, through study
cases, how companies by using different financial performance
indicators, can mislead the users of the financial statements.
Performance measurement of managers is used in decisions about
their salaries, bonuses, future assignments, and career advancement.
Moreover, the very act of measuring their performance can motivate
managers to strive for the goals used in their evaluation. Companies
are benchmarking their financial and non-financial measures
against other companies that are regarded as the best performers.
To compete effectively in the global market, companies need to
perform at near the best of the breed. Our conclusion is that a
company should modify its financial reporting practices in order to
obtain values that are more relevant for indicators such as
ROI and EVA.
KEYWORDS
Financial and no financial measures of performance return on
investment, residual income, and economic value added,
multinational companies, performance of divisions
39
Business information engineering - an approach in
integrating business & information technologies
Felicia ALBESCU
Irina Bogdana PUGNA
Dorel Mihai PARASCHIV
ABSTRACT
Business Information Technologies are seen as cutting edge
Information Technologies made on purpose to support business
information engineering. Management methods, techniques and
support tools could be seamless integrated with Business Intelligence
components providing for pyramidal structures of integrated
measuring systems. From raw quantitative and qualitative measures
up to key performance indicators displayed in Balanced Scorecards,
the engineering process of business information could be fully
supported and enhanced by OLAP technologies. The paper presents
an approach in designing a Balanced Scorecards system based on
OLAP cubes and Data Analysis and needs for upgrading existing
technologies.
KEYWORDS
Business performances management, integrated measures system,
business intelligence, balanced scorecards, OLAP hypercubes
40
How powerful credit-scoring models can be in
context of the financial globalization?
Petre BREZEANU
Cristina Maria TRIANDAFIL
ABSTRACT
Since Altman and Conan, standardized credit scoring models have
been an important tool in order to quantify and control the credit
risk. In context of the financial globalization, capitals have been
directed especially towards the emerging countries owing to the
advantages in terms of higher yield which implies also higher risks.
This is why newly adapted credit scoring models were built by the
rating agencies, different from the standard ones, as now the
corporate credit rating incorporates also the dimension of the
sovereign and industry rating too. The paper aims at analyzing the
evolution of the credit-scoring models, from the standardized to the
adapted ones, underlying the efficiency of the contemporary creditscoring models implemented by Moody’s in reflecting the corporate
default probability in the Eastern Europe countries.
The database which will be valorized as case study belongs to the
Credit Division of Hewlett Packard which focuses the credit rating
activity on the Moody’s methodology.
KEYWORDS
Credit-scoring models, sovereign/industry rating, Estimated Default
Frequency (EDF)
MANAGEMENT INFORMATION
SYSTEMS I
Chairpersons:
Philippe GERMAK
INTEC, Paris, France
Ilie TAMAŞ
Hall 0317
Thursday, June 21st 2007, 14:00 - 16:30
Management information systems
42
Solutions informatiques offertes par les tableurs
pour la création, l’agrégation et l’optimisation de
l’information comptable, contenue dans les états
financiers
Bogdan IONESCU
Iuliana IONESCU
Académie d’Etudes Economiques, Bucarest, Roumanie
RÉSUMÉ
Cette communication scientifique propose d’utiliser quelques
facilitées offertes par les tableurs qui doivent permettre la création
d’une solution informatique pour l’agrégation de l’information
contenue dans la balance aux comptes en connexion avec les
principaux documents comptables de synthèse, sans tenant compte
de la structure et du contenu informationnel du bilan et du compte
de profit et perdre.
Pour attendre ces objectifs, on a proposé la création d’un bilan
retraité, en conformité avec les normes européennes, en partant d’un
bilan normalisé. Ainsi, on veut présenter une démarche qui
représente deux des solutions informatiques élaborées, qui prélèvent
des informations comptables de la balance aux comptes et
construisent automatiquement un bilan retraité.
Cette démarche informatique de généralisation de l’agrégation de
l’information comptable, dans un document financier de synthèse, a
comme avantage le fait qu’il est possible de construire, n’importe
quelle agrégation des comptes qui définissent une structure
particulière de bilan, en partant d’une structure bien structurée et
normalisée (la balance aux comptes).
MOTS CLÉS
Balance aux comptes, états financiers, fonction personnalisée
d’agrégation des soldes, analyseur syntactique des formules
mathématiques, calculs des indicateurs
43
L’impact des technologies de l’ information sur les
structures des entreprises
Valerica MAREŞ
Marius Daniel MAREŞ
Spiru Haret Université, Bucarest, Roumanie
RÉSUMÉ
Comme tout organisme vivant, l’entreprise vit des échanges avec son
environnement. Sa capacité de suivie dépend de la manière dont elle
les contrôle. La technologie utilisée dans les processus dans
l’entreprise influe sa structure et en plus l’informatique permet des
modifications de structure, accroît la flexibilité opérationnelle. Le
traitement de l’information lui-même est flexible quantitativement et
on peut mobiliser rapidement des ressources banalisées
(ordinateurs, réseaux, portable etc.). L’informatique individuelle
offre une liberté des utilisateurs de décider comment travailler et elle
s’accompagne d’une possibilité de multiplication de normes
techniques dans même entreprise. La mondialisation actuelle de
l’économie renforce la nécessité de tels systèmes et le gain est
mesurable par la différence entre les conséquences économiques de
la faillite et la continuation de l’activité.
MOTS CLES
Technologies de l’information, informatique individuelle, réseaux,
environnement mondialisation
44
Audit sampler – an audit support software tool
Victoria STANCIU
Dragoş MANGIUC
Veronica IVANCENCO
ABSTRACT
Even if financial audit has already defined its role and
responsibilities, this activity is quite new in Romania and internal
audit is at the beginning of its way. Financial and internal audit need
IT tools in order to fulfil their role. Romanian audit software offer is
pretty poor, so the authors started a project consisting in the design
and development of a specialized software application for audit
missions, also able to sustain analysis not directly related to the
audit activity. This paper focuses on the most important functions of
the designed audit tool – planning, sampling and analysis of data.
For the sampling function the application provides several ways of
approach. The authors focused on this function taking into account
that the accuracy of the auditor’s opinion is directly linked to the
exactness of sampling. Analysis is also an important function, and
data analysis process is quite time-consuming for the auditors. This
module provides multiple and dynamic criteria for records selection
and analysis so that the auditors can develop their research
according to the objectives and activities started in the audit plan.
This module can also be used for monitoring needed in the fraud
detection process. The new approach of continuous audit can be
sustained by this module.
KEYWORDS
Audit, continuous audit, audit tool, sampling, analysis, fraud
prevention
45
Information systems management and brand
visibility
Marius Daniel MAREŞ
Spiru Haret University, Bucharest, Romania
Valerica MAREŞ
ABSTRACT
Under the present circumstances brands are faced with new
possibilities to achieve increased visibility for the enhancement of
their performance. Information Technologies facilitate the expansion
of the companies on the international market and their massive
dispersion presents brands with new opportunities which could lead
to economic, financial and social development, in time also
increasing cognitive abilities.
Information Systems and the internet enable connection with
potential competitors, suppliers, customers on various continents, the
market being perceived at global level. Present Information
Technologies are able to make psycho-social and cultural analyses
which take into account many dimensions of direction on various
terms, with diverse degrees of risk and productivity.
KEYWORDS
Information technologies, visibility, globalization, performance,
information systems
46
Group collaboration in business and
information systems
Anca MEHEDINŢU
Cerasela PÎRVU
University of Craiova, Romania
ABSTRACT
Individuals in a business usually do not work entirely alone, but
instead in teams, committees, departments, and other types of
workgroups. To collaborate on common tasks, workgroup members
can have meetings, talk on the telephone, send faxes, and distribute
memos. Group members can also use workgroup information
systems to help them collaborate. This type of system is also called a
group support system because it supports the work of people in a
group. This article looks at applications used in workgroup
information systems, and shows how these applications affect group
collaboration in businesses. First, we explain how workgroup
information systems encourage group collaboration. Then we
examine the characteristics of group collaboration and describe
common workgroup applications and the software used for these
applications, and finally we discuss about office automation and the
virtual work environment.
KEYWORDS
Group
collaboration,
virtual environment
workgroups,
office
automation,
47
Some considerations about it outsourcing process
Ioan BOLDEA
Claudiu BRANDAS
ABSTRACT
IT outsourcing is the practice of contracting out the running of a part
of an organization computer department. It is not a new
phenomenon, but the scale and scope of its occurrence has greatly
increased over the last decade. Due to the fact that IT outsourcing
has no obviously and quantifiable benefits, most of the business
entities choose not to do outsource their IT. The paper is based on
the idea of incapability of exact determination of IT services costs.
The purpose of this research regards the layout of the current
approaches to outsourcing, description of different types of IT
outsourcing and their advantages and the analysis of some models
which might be used in order to facilitate the IT decision making
process.
KEYWORDS
Outsourcing, information technology,
application services provider, IT risks
information
systems,
48
A model of a fuzzy data base for managing the
relationships with suppliers
Dorin LIXĂNDROIU
Transilvania University of Braşov, Romania
ABSTRACT
A large field of applications is opened by introducing incomplete,
vague or indefinite facts in data models. The fuzzy logic was applied
to models and data bases. Extensions of relational interrogation
languages to fuzzy logic were realized.
When analyzing and assessing the commercial partners of an
enterprise, an important aspect is grouping them in function of their
common features. This regrouping in classes contributes to reducing
complexity and allows an improved analysis of commercial
relationships with partners.
In a fuzzy classification, each partner could belong, upon the
attributes values, to one or more classes.
For example, a partner could simultaneously belong to the class of
“partners with doubtful quality” (with an affiliation value of 0.3)
and to the class of “partners with increasing perspectives of
commercial cooperation” (with a value of 0.7). Fuzzy classification
thus allows a differentiated interpretation of the affiliation to various
classes.
This paper proposes a model of a fuzzy relational data base for
managing the relationship with suppliers. The advantages of a fuzzy
classification are thus emphasized.
Classification requests in FCQL (fuzzy Classification Query
Language) language use linguistic variables in a fuzzy context.
KEYWORDS
Relational fuzzy database, fuzzy classification, managing the
relationships with suppliers
IT SECURITY
Chairpersons:
Alan LORD
Pavel NĂSTASE
Hall 0420
Thursday, June 21st 2007, 14:00 - 16:30
IT security
50
Modern techniques regarding the information
systems’ architecture
Gabriel COZGAREA
Adrian COZGAREA
ABSTRACT
The unprecedented development of information technology imposes
an increase in the role that the architecture plays in the design and
implementation of information systems. Various architectural
models, dedicated to information systems, have been developed over
time, on a logical as well as a physical level. Through this article we
make a presentation of several advanced models of information
systems logical architecture, as well as a presentation of an n-tire
architectural model based on a Framework and a Repository
component. Even if most information systems use standard
architectural models (on 3 or 4 levels), it is our opinion that through
the use of a Framework and a Repository based architecture, a high
level of abstraction and reuse of an application’s modules can be
achieved. In this article we will specify the roles of the two
components, Framework and Repository, and we will present models
of design for their implementation and utilization.
KEYWORDS
Information systems’ architecture, n-tire architectural models,
models of design, framework, repository
IT security
51
Connection between business architecture
and software architecture
Laurenţiu Cătălin FRĂŢILĂ
ABSTRACT
A business model can be build as the support of developing software
application designed to business purposes. Some problems may
appear because modelling the intricacies of the business context and
modelling the software supposes the appeal to the different concepts
and techniques, programming languages that make their integration
difficult. The goal of the paper is to create the software system that
fits the best the business software; the paper presents various related
topics. We are focused on the principles that a software application
must take into account, to make a connection between business
architecture and software architecture.
KEYWORDS
Business modelling, software modelling, principles of modelling,
management information systems, stages in analysis and modelling
IT security
52
Methods and assessment tools for it security risks
Ofelia ALECA
Mirela GHEORGHE
Dana Maria BOLDEANU
ABSTRACT
Analysis and assessment of the IT security risks represent a request
for every organization. Generally, these risks cannot be eliminated,
they will always be present, but organization management will be
accountable for mitigate them to an acceptable level. The research
proposes the analysis of the most important methods and tools such
as CRAMM, MARION, MEHARI, PRINCE, etc. There aren’t sound
applications in this field in Romanian environment and from this
point the research proposes a case study using association rules in
order to identify security risks.
KEYWORDS
IT security risks, association rules, CRAMM, MARION, MEHARI
IT security
53
The security of information systems through
business continuity management
Cristina Venera ŢARŢAVULEA
Dan Ştefan MARIA
ABSTRACT
Assuring the business continuity is very important for all
organizations, no matter the size or their area of activity. A recent
study shows that nearly 1 of 5 businesses suffers a major disruption
every year, so the business continuity management has become a
vital component of corporate governance. Business continuity
management is a process that identifies potential impacts that
threaten an organization and provides a framework to ensure the
resilience of the business in the case of a disruption, to help ensure
continuity of service to the key customers and the protection of the
brand, reputation and value-creating activities. Business continuity
management is an integrated approach to business continuity
planning, emergency response, and crisis management. The paper
presents the importance of understanding the vulnerabilities of a
business, and the necessity of assuring the information systems
security in order to maintain the business continuity.
KEYWORDS
Business continuity management, information systems security, risks
assessment, business continuity
IT security
54
Electronic attack risks in IT systems
Maria BOLDEA
Costin-Radu BOLDEA
ABSTRACT
Risk always involves unknown. The failure price is sometimes
translated through loosing certain advantages, neglecting deadlines
or reaching unpleasant situations. Experience tells us that we can
not protect ourselves against all existing risks. On the other hand,
logistics shows that we have to know our own risks, to measure and
apply the adequate rules.
IT security offers some instruments which imply analysis and
measurement of risk factors: security standards and training,
analysis and pointing out vulnerabilities, penetration analysis,
evaluating the risks one can define the initial security Baseline. IT
brokers have the possibility of doing fast attacks without limits. IT
attacks involving the informatics systems may have negative results:
financial, operational, and legal or strategically on individual or
even national level.
The paper summarizes the main attack risks for a firm’s IT system.
KEYWORDS
Risk, security baseline, vulnerability, IT attack
IT security
55
Implementing a security strategy for wireless
networks in auditing applications
Alexandru Adrian GAVRILĂ
Delia BĂBEANU
ABSTRACT
Continuous audit is a development of internal audit that is meant to
assure that reports provided by the IS tools are correct and
concluding. Continuous audit is realized much more often than
traditional audit, due to the fact that generated reports are needed in
real-time, perhaps even before the transaction sign-off. This
environment implies that auditors use modern technologies and tools
to monitor applications and provide reports in a timely fashion, that
including working in untraditional places and connected with the
company with wired or wireless networks.
Wireless technologies enable one or several devices to communicate
in the absence of physical connections, without requiring network or
peripheral cabling. Due to numerous advantages provided, wireless
technology has known unprecedented development and rapid
propagation, starting with Wireless Wide Area Network – WWAN,
Wireless Local Area Network – WLAN, cell phones and continuing
with infrared devices such as remote controls, wireless HI-Fi stereo
handsets and microphones, cordless keyboards and mice.
Enabling communication between devices without wires has many
advantages in convenience, but at the same time it increases the
utilization risks, because monitoring wireless networks and intrusion
prevention has become much more difficult.
This article presents the necessity of developing and implementing a
security strategy for Wireless Networks in auditing applications.
KEYWORDS
Audit tools, continuous audit, security strategy, wireless networks
IT security
56
Some considerations about portal-based
collaborative enterprises
Mihaela I. MUNTEAN
ABSTRACT
Collaboration involves a different approach to business - focused on
managing business relationships between people, within or without
groups, and within and between organizations. Collaborative
enterprises differ from other businesses in a number of ways and
collaborative working needs to be simultaneously a business
philosophy, strategy and operational working. At the core of true
collaboration is the ability to share and catalog knowledge, ideas,
standards, best practices, and lessons learned and to be able to
retrieve that knowledge from anywhere at any time. The benefit of
collaboration within a portal is clear. It will continually facilitate
and enrich the knowledge management process. On the other hand, if
done right, knowledge management is supposed to create a
collaborative environment. Integrating all kind of collaboration
capabilities into an enterprise portal, we can build a powerful IT
infrastructure for the collaborative enterprise.
KEYWORDS
Collaborative enterprise, knowledge management, enterprise portal
COSTING
Chairperson:
Jiří STROUHAL
Czech University of Life Sciences, Department of Trade and Finance
Hall 0317
Thursday, June 21st 2007, 17:00 - 18:30
Costing
58
Building of the Activity-Based Cost management
system in practice
Boris POPESKO
Petr NOVAK
Tomas Bata University in Zlin, Czech Republic
ABSTRACT
Article describes the history and philosophy of the Activity-Based
Costing systems and its effective utilization for the industrial
companies cost management. Authors had participated on several
ABC/M implementation projects, which led them to creation of
implementation methodology of process cost management systems.
Important part of the article is also devoted to the implementation
characteristics within the company information system.
KEYWORDS
Cost, costing, activity-based costing, process management
Costing
59
ABC & ABM – The couple which prevails cost
calculation and modern administration for
performance
Ildikó Réka VOLKÁN
Babes-Bolyai University, Cluj-Napoca, Romania
ABSTRACT
Recent technological and organizational mutations, evolutions and
the automation of the production processes generated the reduction
of direct expenses and lead to the increase of indirect ones.
Therefore companies are facing a new challenge: they need to adapt
their managerial accounting instruments and cost calculation
methods to the new requirements of production.
The couple ABC/ABM represents a complete instrument for
management, the first being a cost calculation system, while the
second relies on added value and represents a whole philosophy
regarding the performance based management.
After covering the available literature in this field, based on a
qualitative analysis, we want to demonstrate that the reminded
couple continues to gain field in the area of cost calculation and
measuring performances, and tends to become an indispensable
instrument for each manager by offering information regarding the
profitability of one’s clients, administrating the portfolio of products
and setting their prices.
KEYWORDS
Cost calculation, cost management, performance administration,
Activity Based Costing, Activity Based Management
Costing
60
Multicriterial model for costs analysis and
optimization at societies’ group level
Cerasela PÎRVU
Ion BULIGIU
University of Craiova, Romania
ABSTRACT
In our opinion, the performances at group level must be analyzed
differently, depending on the adopted strategy. Thus, we consider
that a major problem of the accounting and cost control is their
compatibility with the strategy. This is justified by the fact that a
certain system, that can be an efficient instrument for assessing the
performances of a group whose strategy is cost dominated, could
cause malfunctions in a company that adopts a differentiation
strategy. Because groups’ management currently faces a specific
problem – adopting decisions when several objectives are followed
simultaneously or the same objective common for more branches –
we consider that, in such cases, the decisions cannot be based on a
classic model of optimization of a single objective function. We
consider that an optimization model with several objective functions,
which aims at optimizing the costs for the branches and choosing a
satisfactory solution for the company, is necessary.
KEYWORDS
Costs, the optimization
linear programming
of
the
costs,
decision
process,
Costing
61
Implications of the production strategies based on
the opportunity costs upon the breakeven point
Nela ŞTELIAC
ABSTRACT
Any producer must choose production strategies in order to have
maximum profit. Producers that are dealing different compulsions
are forced to choose an alternative from a numbers of alternatives.
Each alternative implies a certain opportunity cost. Production
strategies based on a certain opportunity cost represent the
strategies that the producers are using in order to establish the
products that are to be made during a certain period of time
according to some of the compulsions that producers deal in order to
have maximum profit. Considering the case of a restrictive sector
that register a physical production capacity because of the
production hours/month .The combination of products is determined
reporting the gross margin/hour of every product. This strategy leads
to a maximum profit (minimized opportunity cost). Producers are
often tempted to establish their strategies according to the unitary
gross margin thus leading to a profit loss. This article presents both
possible strategies analyzing comparatively the levels of the
breakeven point that are determined by the two strategies.
KEYWORDS
Production strategy, opportunity cost, restrictive sector, breakeven
point, time required in order to reach the breakeven point
62
Costing
ACCOUNTING AND ENVIRONMENT
Chairperson:
Nicoleta FARCANE
Hall 0321
Thursday, June 21st 2007, 17:00 - 18:30
Accounting and environment
64
Sustainable development: effects on financial
statements analysis
Petru ŞTEFEA
Cristina CIRCA
ABSTRACT
So far, the main declared target of each company, its reason for
living, has been the increase of the financial performance, given by
various indicators - turnover, net profit of the year, comprehensive
income, cash flow etc. However, today trends seem to change. We
are living in a world facing more and more social and environmental
problems, that need to be taken into account in the process of
economic development.
We are living in a country that performed an important step at the
beginning of the year: the entry in the European Union. From this
moment on, Romanian companies won’t choose to do their business
and protect environment at the same time, but will have to, given the
European restrictions in this field. Both production costs and selling
prices will carry in a certain extent a component of environment
protection.
In this context, the present paper will attempt to discuss several
effects of the sustainable development on the financial performance
of the company. Moreover, as performance indicators are altered by
environmental restrictions, we will have to consider additional
judgment criteria in the financial statements analysis.
KEYWORDS
Sustainable development, structural instruments, performance,
externalities
65
Actualités et perspectives dans la comptabilité
environnementale
Neculai TABǍRǍ
Florian NUŢǍ
Université „Alexandru Ioan Cuza", Iaşi, Roumanie
RÉSUMÉ
La notion de l’environnement représente: l’ensemble des ressources
naturelles, l’interaction entre les ressources naturelles et les
activités humaines, l’ensemble de toutes les ressources disponibles.
La comptabilité environnementale correspond à la tentative
d’utiliser pour la gestion dans le domaine des instruments de
contrôle et de suivi analogues à ceux qui sont employés dans la
gestion économique d’une entreprise ou d’un organisme public. On
estime que le contrôle de tous les flux de dépenses, de profits et la
vérification des variations patrimoniales constituent le moyen le plus
efficace de contrôler toutes les actions effectuées, leurs impacts,
efficacité, et équité.
MOTS CLÉS
Environnement, comptabilité environnementale, gestion environnementale,
ressources naturelles
66
L’évaluation des performances de l’audit de
l’environnement
Mioara BORZA
Université „Alexandru Ioan Cuza", Iaşi, Romania
RÉSUMÉ
La protection de l’environnement est l’une des plus importantes
préoccupations des spécialistes de différents domaines d’intérêt.
Ainsi, la comptabilité acquiert une nouvelle dimension qui réunit les
méthodes, très modernes, utilisées pour reconnaître les valeurs. À
présent, on comprend mieux que les problèmes d’environnement ont
un impact fort et direct sur les situations des entreprises. En
conséquence, les mesures pour protéger l’environnement seront
soutenues par l’audit d’environnement.
On peut associer les performances enregistrées au niveau de
l’environnement avec les performances générées par l’application de
l’audit d’environnement. En plus, le dernier joue un rôle vital pour
corriger les carences des étapes passées. La compétitivité est
l’élément essentiel qui fait la liaison entre l’audit, le management et
la comptabilité.
Si en comptabilité on met en évidence les dépenses, les coûts et les
bénéfices enregistrés, il apparaît opportun de "comptabiliser" aussi
leur source, c’est-à-dire la nature. Après cette démarche, une
nouvelle étape surgit – l’audit – qui a le rôle de sensibiliser en ce qui
concerne la reconnaissance des valeurs de l’environnement.
La soutenance des efforts en vue d’enregistrer des performances par
l’audit d’environnement a conduit à de nombreux bénéfices.
MOTS CLÉS
Audit, bénéfices, compétitivité, environnement, impact, spécialistes
auditeurs
67
The reflection of environmental investments on the
market value of Romanian companies
Carmen BONACI
Alin IENCIU
ABSTRACT
The paper tries to provide insight into the way environmental
information and especially environmental investments influence the
market value of Romanian companies. In order to quantify this
influence we expressed market value of equity as a function of book
value equity, accounting earning and environmental performance, as
main variables. This recommendation assumes that environmental
information has value relevance since it is likely to affect the
expected future earnings of companies.
Currently we could consider two main categories of opinions
regarding this matter: one arguing that environmental investments
represent only increased costs, resulting in decreased earnings and
lower market value, and the other saying that environmental efforts
play a value creation function. The value relevance of environmental
performance ratings for the market value of companies will be
reflected by analyzing financial statements from some Romanian
companies which apply environmental policies, this article having
the role of grounding our framework.
Our study finds support for the cost-concerned category, the main
reason for this conclusion being the company’s attitude regarding
environmental concerns in general.
KEYWORDS
Environmental investments, equity, accounting earnings, function
68
GAIA theory – model and metaphor
for global green performance
Florian COLCEAG
IRSCA Gifted Education
Chiraţa CARAIANI
Mihaela DUMITRANA
Cornelia DASCĂLU
Camelia Iuliana LUNGU
ABSTRACT
The GAIA Theory is the scientific explanation of how our planet
functions as a single living and self-regulating system. It can be
considered that GAIA is challenging a new functional stage of world
development, including the economic performance dimension. It was
first scientifically formulated by James Lovelock (1960) and has
inspired many leading figures of the past years. The recent
researches are referring to a multitude of motivations regarding the
socio-economic and environmental reporting of so-called global
performance (Margulis, 2006; Hassel et al., 2005).
The research methodology of this paper is based on a
multidisciplinary approach, which has worked out an advanced
techniques set of educational, economic, social and environmental
dimensions. We use the fundamental research that is related to
inductive accounting theory and scientific methods for identification
of theoretical and practical difficulties. The paper allows new
approaches regarding global green performance, ensuring premises
for future research.
KEYWORDS
GAIA theory, global green performance, socio-genesis, value –
based management, performance metrics
INTANGIBLES
Chairperson:
Adriana TIRON TUDOR
Babeş-Bolyai University of Cluj-Napoca, Romania
Hall 0319
Thursday, June 21st 2007, 17:00 - 18:30
70
Intangibles
Intangible assets and value creation
Nicoleta RADNEANTU
American-Romanian University, Bucharest, Romania
ABSTRACT
The success of companies no longer depends upon production
facilities, financial capital, and ownership, but more and more upon
immaterial values, known as intangible assets. Such assets include
not only relationships with business partners, brand awareness and
new business ideas, but also know-how, corporate culture, and the
ability to innovate.
One of the major problems with today’s accounting systems is that
they are still based on transactions, such as sales. The successful
development of a drug creates considerable value, but actual
transactions, such as sales, may take years to materialize. Until then,
the accounting system does not register any value created in contrast
to the investments made into research and development, which are
fully expensed. This difference, between how the accounting system
is handling value created and is handling investments into value
creation, is the major reason for the growing disconnect between
market values and financial information.
KEYWORDS
Intangible assets, value creation, globalization, knowledge-based
economy, intellectual capital, evaluation
Intangibles
71
Capitaliser et valoriser les connaissances: une
approche fondée sur la mémoire d’entreprise
Vasile FLORESCU
Liana ANICA-POPA
Ionuţ ANICA-POPA
RÉSUMÉ
Le développement dans une économie de la connaissance détermine les
entreprises à trouver les moyens organisationnels et méthodologiques
pour transformer l’information et les acquis intellectuels en valeur
durable pour les employés et les clients. La capitalisation des
connaissances est devenue un enjeu stratégique pour les entreprises. Une
approche possible pour le management des connaissances (en anglais,
Knowledge Management) dans une organisation est la construction
d'une mémoire d'entreprise Les nouvelles technologies d’information et
de communication (NTIC) et surtout les technologies du .NET assure
l’infrastructure pour matérialiser cette mémoire dans une diversité de
formes: une base de données, une base documentaire, une base de
connaissance, une base de cas, un forum de discutions ou un collecticiel.
MOTS CLÉS
Connaissances explicites, connaissances tacites, capitalisation des
connaissances, mémoire d’entreprise, base documentaire, base de
connaissances, base de cas, Internet, Web, Web sémantique
72
Intangibles
Les rapports narratifs du management, sont-ils
équilibres? Etude de cas sur la reconnaissance du
capital intellectuel dans les rapports annuels
Anca BOGDAN
Ioana IOAN
Conservatoire Nationale des Arts et Métiers de Paris, France
Raluca SANDU
Université d’Orléans, France
RÉSUMÉ
La création de valeur en entreprise s’appuie de plus en plus sur des
éléments immatériels, difficiles à mesurer, à gérer et surtout à
communiquer aux actionnaires et aux parties prenantes de
l’entreprise. Les pratiques de communication financière de certaines
entreprises intégrant déjà des éléments du capital intellectuel
(exemple l’entreprise Skandia, au Suède) et les normalisateurs
commencent à s’interroger sur l’opportunité de normaliser ce genre
de reporting financier (le rapport de la FASB de 2001). Nous nous
proposons ainsi d’étudier, par une analyse de contenu, les éléments
du capital intellectuel présents dans les rapports annuels de
PETROM SA. Notre choix d’entreprise s’explique par le processus
de réorganisation commencé après sa privatisation, un contexte qui
rend critique le problème de la création de valeur. L’intérêt de notre
recherche réside également dans la présentation des résultats sous la
forme d’un tableau de bord équilibré.
MOTS CLÉS
Rapports narratifs, création de valeur, capital intellectuel, tableau
de bord équilibré, analyse de contenu
Intangibles
73
The Accounting of the New Economy
Carmen IMBRESCU
Ion IMBRESCU
University of the West Timişoara, Romania
ABSTRACT
One of the effects of the New Economy is represented by the fact that
the science of accounting must be better adapted to the new realities.
In the near past manifested an interesting transformation: intangible
goods rapidly replace the tangible goods, because the first ones can
create added value in a more intensive way. We are at a beginning
period of a new “New Economy”, and this New Economy is founded
on a model which tries to optimize the combination between tangible
goods and knowledge/intangible goods, where the managers counts
on the long-run creation of added value and also on the short-run
obtaining of the profit. This paper try to reveal the need to recognize
the existence of the limits of the accounting and to identify some
ways to improve it, because the processes of decision-making and
decision taking must not be invaded by the limited or distortional
information.
KEYWORDS
Accounting, New Economy, intangible goods, management
74
Intangibles
BUSINESS INTELLIGENCE
Chairperson:
Dorin LIXĂNDROIU
Transilvania University, Braşov, Romania
Presentation:
"Best Practices in Information Systems audit and governance"
Adrian LOCUSTEANU
S&T Romania
Hall 0420
Thursday, June 21st 2007, 17:00 - 18:30
76
Business Intelligence
Modèles de formations virtuels: une démarche qui
ajoute de la valeur a l’enseignement économique et
comptable, dans le contexte de la globalisation
Bogdan IONESCU
Florin MIHAI
Iuliana IONESCU
Andrei STANCIU
Cătălin TUDOR
RÉSUMÉ
En partant du contexte globalisé, on a proposé dans cette
communication scientifique d’analyser les possibilités d’intégration des
composants de l’enseignement économique avec des modèles et des
outils pédagogiques de la formation virtuelle, par Internet, de
surprendre les point forts et faibles de l’implémentation des plateformes
d’enseignement électronique dans l’offre de la formation économique.
En commencent par l’analyse de l’enseignement économique vue dans
un contexte mondial, européen et national, il est possible d’établir un
modèle d’une formation généralement acceptée, qui se décrit par
plusieurs composants de l’enseignement économique, transposés
pédagogiquement sur une plateforme intégrée de « e-learning ».
Au niveau européen, le sujet d’utilisation des technologies numériques dans
le processus de la formation, a fait l’objectif des plusieurs démarches, qui
ont parti de l’adaptation des outils pédagogiques, des technologies
communicationnelles, vers le développement des ressources de formation
par Internet et ont eu comme but l’intégration de la formation économique
parmi les plateformes de « e-learning ».
MOTS CLÉS
E-learning, formation virtuelle, globalisation modèles d’apprentissage,
enseignement comptable
77
GIS and BI or a location-based business
intelligence solution for higher
education management
Dinu AIRINEI
Daniel HOMOCIANU
“Alexandru Ioan Cuza” University, Iaşi, Romania
ABSTRACT
Historically speaking, BI and GIS have followed different demands
as development and also as implementation. But today, when a
customer requests integrated applications expanding throughout the
organization, BI and GIS application must work together.
In order to facilitate this, standards and other ways of data
interaction – desktop integration, server integration, web services were adopted by various IT providers and client organizations. After
finding out what it is that spatial information brings to business, we
must speak about the Location-Based Business Intelligence.
This paper is meant to put this integration issue into the specific
context of the Higher Education Management.
KEYWORDS
Business intelligence, geographical information systems, locationbased bi, higher education management
78
Knowledge integration for management use
Irina Bogdana PUGNA
Felicia ALBESCU
ABSTRACT
In this paper we discuss some of the currently issues on the agenda
of knowledge management. In particular, we focus on knowledge
integration - as a synthesis of best available evidence with expertise
of individuals and customer values- pointing out the importance of
knowledge management integration with business processes. Also,
we discuss about the integration of knowledge management
technologies with business intelligence technologies. Knowledge
management technologies, while less mature than business
intelligence technologies, are now capable of combining today’s
content management systems and Web with vastly improved
searching and text mining capabilities to derive more value from the
explosion of textual information. As a result of that technological
integration (BI and KM) there are new approaches that can analyze
data and text together, seamlessly. Text integrated with business data
can provide valuable insights for improving the quality of business
decisions. Finally, we focus on ontologies, as artefacts to represent
human knowledge and on their role in knowledge integration.
KEYWORDS
Knowledge management, knowledge
discovery, ontologies, semantic metadata
integration,
knowledge
79
Value creation through business intelligence
Ana-Maria PREDA
Romanian-American University, Bucharest, Romania
Alina ARDELEANU
Novensys Business Solutions, Bucharest, Romania
Olga CRIHAN
Romanian-American University, Bucharest, Romania
ABSTRACT
The paper presents the role of Business Intelligence (BI) as a
strategic asset in any successful organization. It also emphasis the
business value of BI. After a short presentation of the state-of-the-art
of the current available BI solutions, the paper focuses on Microsoft
BI suite of products. The authors present their experience in
implementing Microsoft Dynamics NAV Business Analytics (BA)
both for enterprise management and for corporate management. The
conclusion is that BI represents one of the most efficient, effective
and easy-to-use solutions to improve information management and to
grow the overall performance of an organization.
KEYWORDS
Business intelligence, business analytics, dashboard, management
information system, accounting, dashboards
80
Develop a knowledge management system - with
application in financial – accounting domain
Olivia CARSTOCEA
ABSTRACT
Knowledge Management System is a tool for managing knowledge in
companies and has the scope of acquiring business knowledge,
expertise and best practices throughtout all their existence.
The scope of this study is to develop a knowledge management
system based on REX method (Retour d'Experiences) identified as
the adequate method for management of explicit knowledge in
financial-accounting domain, using the features of Microsoft
SharePoint Portal Server 2003.
The solution proposed is a knowledge management portal will
integrate information, collaboration, processes, expertise and
generates useable reports of individual and aggregate data, combine
multiple forms into one online system, promote standardized datacollection methodology, facilitates timely feedback and approval.
KEYWORDS
Knowledge management systems, explicit knowledge, portal, REX
method, financial-accounting knowledge
ISSUES IN FINANCIAL ACCOUNTING
Chairperson:
Dumitru MATIŞ
Babeş-Bolyai University, Cluj Napoca, Romania
Hall 0320
Thursday, June 21st 2007, 17:00 - 18:30
82
Issues in financial accounting
Absolute hypostases regarding
actuarial accounting
Mihai RISTEA
Corina DUMITRU
Lidia Cristina MANEA
Mirela Elena NICHITA
Daniela Nicoleta SAHLIAN
ABSTRACT
The paper presents a segment of the actuarial accounting related to
pensions and employees benefits. The selected domains in this
context are as follows: the actuarial value of the promised pensions
(distinguish between vested benefits and non-vested benefits); credit
factor in actuarial measurement of the relation between beneficiaries
and cost of the entity; unbiased and mutually compatible actuarial
assumption (employee turnover and mortality; discounted rate,
salaries, state benefits and medical cost) that are used as estimation
for variables that determine the final cost of the granted post –
employment benefits; recognition of the net cumulative actuarial
gains and losses.
The whole research is focused on the continuous finding of the most
adequate methods of recognition and actuarial measurement
treatments capable to propound a new branch for accounting
culture: the actuarial accounting.
KEYWORDS
Actuarial accounting, pensions, employees’ benefits, actuarial gains
and losses
83
Carbon Allowances – Various Approaches to
financial reporting
Jiřina BOKŠOVÁ
University of Economics, Prague, Czech Republic
ABSTRACT
The topic which is being discussed a lot among the companies, which
let the carbon dioxide out, are the carbon allowances which allow
you to produce a particular amount of greenhouse gases. EFRAG
did not accept the interpretation of IFRIG 3 concerning the carbon
allowances as intangible assets accounted according to IAS 38 and
cost-free allocation of carbon allowances for grant according to IAS
20. IFRS does not deal with the credits itself. The aim of this article
is to present the various approaches how to solve the problem of
financial reporting of the carbon allowances according to the valid
standards of IFRS or perhaps according to others standards as well.
KEYWORDS
Allowance, net
liability method
liability
approach
method,
modified
net
84
A research on the accounting options choices
within listed companies
Daniela Artemisa CALU
Cosmina PITULICE
Mădălina BRĂESCU
ABSTRACT
Listed companies must prepare and present their financial
statements according to IFRS/IAS. These standards are
characterized by a certain convergence trend demonstrated by the
acceptance of a small number of choices for the same accounting
issue. However, companies are able to choose among several
accounting treatments. Our research aims to demonstrate that there
are correlations between certain particularities of the group (e.g. net
turnover, industry type, the number of the group’s companies) and
the accounting policies it chooses. In this regard, we want to
research the accounting policies published in 2005 financial
statements by companies included in Fortune Global 500 top, to
establish through statistical methods correlations among dependent
and independent variables and to explain the option for a certain
accounting treatment.
KEYWORDS
Financial statements, IFRS/IAS, accounting issue, accounting
treatments, accounting policies, statistical methods
85
Fair value accounting for financial instruments
Vasile RĂILEANU
Cristina Lidia MANEA
Cristian RAPCENCU
ABSTRACT
In today's dynamic and volatile markets, whether it is to buy or sell,
investors need to know what an asset is currently worth, rather than
what it was worth when it was acquired. As a result, with today’s
unpredictable market conditions, it seems like the fair value to be the
answer. Being the subject of the latest reviews of international
standards, we consider the fair value accounting, in general and fair
value accounting of financial instruments in particular, to be the
most important ones. In this context, the paper provides answers to
questions such as: Is the fair value the absolute solution for the
financial instruments measurement? How can the fair value be
measured? How fair is the fair value? All answers and solutions are
supported by case studies regarding the fair value measurement of
the financial instruments, including models of valuation techniques.
KEYWORDS
Fair value, measurement, financial instruments, valuation techniques
86
The integration of the Romanian professional
accounting education in the general accepted
international learning curricula
Paul DIACONU
ABSTRACT
The globalization phenomena are penetrating deeply the accounting
profession. The standardization of the accounting need to be
evaluated both through the need of the standardization of the
accounting methods (see IFRS) but also through the creation of a
uniform base of knowledge’s which need to be undertake by the
accountants in the developing of their profession. Since almost 20
years the international organizations like UN raised the problem o
an international accountancy learning curricula, as a benchmark for
the developing world and as a model for the entire accountancy
world. In this purpose IFAC has created in International Education
Standards, which allowed the national accounting professions to
adjust their learning curricula in relation with a general accepted
reference. CECCAR, the Romanian accounting body will need to use
in the next period the related standards and to implement them in its
own national system. In this purpose the Romanian accounting
profession will be able to become general recognized in the
accounting world in general and in the European accounting world
especially.
KEYWORDS
International Education Standards, cultural capital, educational
curricula, harmonization
VALEUR, GLOBALISATION ET
COMPTABILITE
Chairperson:
Jean Michel NICOLLE
Hall 0421
Friday, June 22nd 2007, 11:00 - 13:00
88
Valeur, globalisation et comptabilité
L’adoption par l’Europe des normes IFRS :
vecteur d’intégration mondiale ? Mais perte de
légitimité des états ? L’exemple français
Christian SIMON
Université Paris 12 Val de Marne, France
RÉSUMÉ
Le règlement européen visant à rendre obligatoire les normes
comptables internationales IFRS pour les sociétés cotées
européennes pour l’établissement de leurs comptes consolidés au
plus tard à partir de 2005, a été publié le 11 septembre 2002. Ce
règlement s’inscrit dans le cadre plus général du plan d’action
européen pour parvenir à un marché financier des services
pleinement intégré dès 2005. Pour ce faire, l’Europe doit disposer
notamment d’un langage comptable commun à toutes les sociétés
cotées, ce qu’elle avait déjà entrepris en publiant notamment dans
les années 1970 les 4ème et 7ème Directives.
Déjà les états membres, par ces directives, avaient du parvenir à une
certaine harmonisation de leurs règles comptables, et par là même
avaient renoncé à une certaine part de leur souveraineté en la
matière.
Or depuis le règlement du 11 septembre 2002, l’Europe a dévolu son
avenir comptable à un organisme privé de normalisation, l’ IASB, et
a décidé que les normes comptables produites s’appliqueraient, pour
l’instant limitées aux groupes européens cotés, dans les états
membres.
Au niveau européen, l’ ARC (Comité de réglementation comptable
qui donne son avis sur l’adoption ou non des IFRS en Europe) et l’
EFRAG (European Financial Reporting Advisory Group qui a un
rôle consultatif en la matière) essaient d’organiser l’applicabilité de
ces règles dans les états membres.
89
La France pour sa part dispose du Conseil National de la
Comptabilité (CNC), doté d’un Comité d’urgence, et du Comité de la
Réglementation comptable (CRC), tous deux étant des organismes
dépendant du Ministère de l’économie, le premier donnant son avis
sur les dispositions comptables , le second les adoptant.
Dan un horizon plus lointain, 2010/2015, on peut imaginer que
toutes les sociétés françaises seront tenues à l’application des
normes internationales, voire les PME.
Quelle sera alors la légitimité de l’état français en la matière ? On
peut donc penser que ces deux organes nationaux ne seront plus que
des « organismes d’enregistrement et de contrôle ».
La normalisation comptable nationale s’est déplacée du niveau
national au niveau européen (1er stade), puis du niveau européen au
niveau mondial (2nd stade).
MOTS CLÉS
Directive, harmonisation, IAS / IFRS, intégration, mondialisation,
normes
90
La « réception » des normes IFRS dans
le monde comptable: une analyse comparative
Roumanie - France
Ion IONAŞCU
Académie d’ Etudes Economiques, Bucarest, Roumanie
RÉSUMÉ
La globalisation des affaires a imposée les normes IAS/IFRS comme
référentiel comptable global. Dans l’Union Européenne ces normes
sont obligatoires pour les comptes consolidés de toutes les sociétés
cotées. Mais la comptabilité n’est pas neutre par rapport à son
milieu culturel est la réception des normes IFRS est différente, en
fonction de chaque contexte national. Pour certains pays, comme
ceux de l’Europe continentale, l’application des normes IFRS peut
être considérée un changement radical de paradigme comptable.
Cette étude présente une analyse comparative sur la réception des
normes IFRS dans le milieu comptable (les normalisateurs, la
profession comptable, les universitaires, les facteurs politiques etc.)
en Roumanie et en France. Dans l’ensemble, les résultats de l’étude
montrent qu’en France on a une approche plus critique des normes
IFRS qu’en Roumanie, où on peut remarquer un mimétisme
comptable plus accentué. Les conclussions sont fondées sur une
étude critique et comparative de la littérature professionnelle
significative (revues, ouvrages, journaux etc.) publiée entre 20002006.
MOTS CLÉS
Normes comptables internationales IAS/IFRS, analyse comparative
Roumanie – France, mimétisme comptable, réception critique des
IAS/IFRS
91
La création de valeur pour les actionnaires. Une
étude de cas pour les sociétés roumaines cotées à la
Bourse de Valeurs de Bucarest (BVB)
Marian SĂCĂRIN
Académie d'Etudes Economiques, Bucarest, Roumanie
RÉSUMÉ
Pour les sociétés cotées, la maximisation de la richesse des actionnaires
représente l'objectif principal. Aujourd'hui, il existe de nombreux
modèles ou méthodes de calcul de la création de valeur pour les
actionnaires, le modèle développé par le cabinet américain Stern et
Stewart étant le plus connu. Ainsi, les vocables EVA (Economic Value
Added - Valeur Economique Ajoutée) et MVA (Market Value Added Valeur de Marché Ajoutée), marques déposées par ce cabinet, sont
utilisées par plusieurs entreprises pour mesurer la création de la valeur.
À cause de la difficulté de la détermination du coût des capitaux
investis, nécessaire pour calculer l'EVA et la MVA, on a choisi le
ratio de Marris pour mettre en valeur la capacité des sociétés
roumaines, cotées à la Bourse de Valeurs de Bucarest (BVB), de
créer de la valeur pour actionnaires propres.
Les deux variables de ce ratio sont:
-VM: la valeur de marché représentée par la capitalisation boursière
à la fin d'année;
-CP: la valeur comptable des capitaux propres à la fin d'année;
La comparaison de ces variables permet d'apprécier si la société va
dans l'avenir se maintenir, créer de la valeur pour actionnaires ou
au contraire en détruire.
MOTS CLÉS
Création de valeur, destruction de valeur, EVA, MVA, ratio de
Marris, sociétés cotées, Bourse de Valeurs de Bucarest (BVB)
92
L'analyse de la cohérence des théories concernant
la création de valeur avec le modèle comptable de
la valeur imposé par l'IASB
Ştefan BUNEA
Académie d'Etudes Economiques, Bucarest, Roumanie
RÉSUMÉ
Il y a des modèles de création de valeurs orientées vers les
actionnaires et bien aussi des modèles qui servent les autres partis
prenantes. L'unes d'elles sont simples et repos sur les valeur
comptables traditionnelles et les autres plus complexes utilisent la
juste valeur et la valeur actualisée des flux de trésorerie.
L'objectif de cette recherche est de réaliser une analyse de la
cohérence des théories concernant la création de valeur avec le
modèle comptable de valeur imposée par l'IASB et avec les modèles
de gouvernement d'entreprise.
Méthodologie de recherche :
-revue de la littérature concernant les théories de création de valeur et de la
gouvernance d'entrepris pour pouvoir identifier les leviers de création de
valeur et leurs utilité dans les différents modèles de gouvernement ;
- analyse de la cohérence des concepts et des politiques comptables de
l'IASB avec les raisonnements utilisés dans les théories de création de
valeur et avec les principes de la gouvernance d'entrepris.
Les résultats de la recherche amènent vers la conclusion que le
modèle comptable de l'IASB privilège les modèles de création de
valeur pour les actionnaires et un modèle de gouvernement
shareholders.
MOTS CLÉS
Création de valeur, valeur comptable, cohérence, gouvernement de
l'entreprise
LAW I
Chairperson:
Hall 2514
Friday, June 22nd 2007, 11:00 - 13:00
94
Law I
The employees’ grievances and the possibility to go
on strike in comparative labour law
Raluca DIMITRIU
ABSTRACT
The right to strike may be exerted in a different way depending on
the law system. More often than not, the strike is the result of the
employer’s refuse to perform one or another of the employees’
grievances. The present study proposes to make a configuration of
these grievances, in comparative law.
Which are the employees’ demands whose refusal may lead, legally,
to strike, in different law systems, which are the legitimate demands
and which appear as illegitimate, which demands are generally
considered as reasonable and whether their qualification as
reasonable or unreasonable is relevant for the strike’s legitimacy –
here are some of the questions which the present study proposes to
answer.
Using the comparative method, but also the empirical one, practical
cases of strike triggered in different European systems are analysed,
with a special accent on the political demands and on the type of
strike they might generate.
KEYWORDS
Labour law, strike, comparative law, employees’ demands
Law I
95
Considerations concerning the regulation of credit
institutions within the context of the recent
legislative modifications in the Romanian law
Brânduşa Oana VARTOLOMEI
Ana-Maria LUPULESCU
ABSTRACT
The accession of Romania to the European Union has imposed the
harmonization of Romanian legislation with the Community law,
including in the banking field. In order to align the national
provisions with the existing regulations at community level, the
Romanian legislator has abrogated the Law no. 58/1998 concerning
the banking activity and it has adopted new provisions related to this
field, namely the Government Urgent Ordinance no. 99/2006
concerning credit institutions and the adequacy of capital. This
ordinance represents a veritable reform of banking activity and it
has the vocation to be considered as a major step in the process of
creation of essential legal rules in order to regulate the commercial
and business environment in Romania.
For this purpose the present paper aims to analyze the major
innovations provided by the new regulation in relation with the
credit institutions and the conditions they must fulfill in order to be
allowed to perform their activities in Romania (regardless of their
nationality). The present analysis intends to accentuate the main
useful aspects of the new provisions in order to help the theoreticians
of law as well as the professionals to deal with the legislative
instability Romania is facing.
KEYWORDS
Banking law, credit institution, authorization, competent authority
96
Law I
Analysis of the international commercial
standard form contracts
Charlotte ENE
ABSTRACT
The terms of many contracts are set out in printed standard forms
which are used for all transactions of the same kind. Usually,
standard form contracts are settled by trade associations in order to
be used by their members in their international commercial activity.
The main purpose of these standard forms is to save time. The
activity of businessmen would become almost impossible if all the
terms of every contract had to be settled for each transaction. Also,
standard form contracts are an instrument for allocating contractual
risks; they can be used to determine in advance who is to bear the
expense of insuring against those risks.
Nevertheless, the standard form contracts could be used in an unfair
way, mainly in relation with private consumers (e.g. to exclude or
limit the supplier`s liability for defective performance; to deprive the
other party of some protection which the law would
normally give him).
KEYWORDS
Law, contract, standard form, business liability, consumer
Law I
97
Economic organizations and the free
circulation of capital
Laurenţiu SORESCU
ABSTRACT
One of the fundamental principles of the Union is free movement of
capital. Capital represents resources used for investment or capable
of being invested able to generate income. The concept of capital
includes securities, direct investment, financial loans and credits,
shares, bonds and other debt instruments. Free movement of capital
is governed by Articles 56 para 1 and Articles 57 up to 60 EC. The
internal market project has lead to the enactment of secondary
legislation regarding free movement of capital and to the inclusion of
provisions related to free movement of capital into the EC Treaty as
part of the Maastricht amendments. This paper examines EU law
concerning credit institutions, companies and the categories of
operations performed by those economic organizations concerning
circulation of capital in the EU.
KEYWORDS
Free circulation, capital, banking, companies
98
Law I
Principle of cooperative governing in the trade
company law no. 31/1990
Camelia STOICA
ABSTRACT
In amending the Law no. 31/1990 the transparency increasing in
fulfilling the position and responsibility of managing executive
offices of trading companies (especially the administrators is being
regulated. Thus the following amendments have been brought: 1.
Separation of supervision position towards the decision making ones.
2. Elaborating the administrator legal responsibility frame to the
company with “non-executive” position. 3. Introducing the definition
of independent administrator. Amending the law, we leave the
“Monist” conception for the “Dualist” system for the joint-stock
company coming from German legislation. Introducing the
supervision council is done under the main purpose as to control the
modality under which the directors manage the company, as they
effectively manage the company. The independence of the directors
to the supervision council is provided as their revocation can be
incident only for severe reasons and under legal verification.
Introducing the “dualist” system has practical implications, as
under the circumstance of European Union adherence from the 1st of
January 2007, the new system has provided its compatibility to the
provisions of Regulation regarding the European Company no.
2157/2001 and Directive 2001/86/CE.
KEYWORDS
Principles, administrators, monist, dualist
LAW II
Chairperson:
Raluca DIMITRIU
Hall 2516
Friday, June 22nd 2007, 11:00 - 13:00
100
Law I
Le critère du contrôle. Connotations de
l’association des entreprises dans des différents
embranchements de droit la solution
communautaire communication
Silvia CRISTEA
RÉSUMÉ
En quelle mesure le contrôle, défini comme la possibilité d’exercer
une influence déterminante sur une autre entreprise, reste dans le
territoire d’une concurrence licite (loyale) et, en quelle mesure il
conduit vers une concurrence illicite (déloyale)? C’est le problème
principal que cette étude propose comme thème de recherche, ayant
comme point de départ l’analyse des dispositions en ce qui concerne
le contrôle dans la législation roumaine, respectivement La loi no.
297/2004, concernant le marché de capital, La loi no. 58/1998
concernant l’activité bancaire, La loi no. 217/2005 en ce qui
concerne l’organisation et le fonctionnement du comité européen
d’entreprise et La loi no. 371/2003 concernant le Code fiscal. Le but
de la systématisation des dispositions si hétérogènes est de découvrir
quel est le pourcentage minimal qu’une entreprise peut détenir dans
l’activité d’une autre entreprise soit direct, soit indirect par une
tierce personne, pour que cette possession doit être cataloguée
comme contrôle. On peut découvrir aussi quels sont les effets
juridiques du contrôle ( par exemple, en matière fiscale, le contrôle
conduit à établir la relation d’affiliation et ainsi à la solidarité, au
payement des obligations envers le budget général consolidé) .
MOTS CLÉS
Droit, contrôle, pourcentage, effets, juridique
Law I
101
Financial services in the European Union
Laurenţiu SORESCU
ABSTRACT
This study relates to a particular type of services provided in the EU,
financial services. The legislation regarding financial services in the
European Union will be analyzed briefly in this paper. The EU
legislation has changed and will change the financial markets of the
Member States. Member States have to enact proper legislation
compliant to the rules established for the integration of the financial
market of Member States. Even if it seems that at this moment the
integration task has been completed, a single financial market is still
an objective to the European Union. The EU Commission has built a
special framework for action in the field of financial services. The
Commission wants to eliminate the remaining barriers to the free
provision of financial services and aims to improve legislation and
controls on the financial market for the period 2005-2010. This
article will try also to make a short presentation of EU rules
regarding banking, insurance, transaction in securities, financial
conglomerates and institutions for occupational retirement.
KEYWORDS
Financial services, single market, EU law, banking, insurance
102
Law I
Considerations regarding the single member
companies. De lege ferenda proposal
Ileana VOICA
ABSTRACT
The paper contains two parts:
1. Comments on the legal regime of the single member private
limited company. Focus on the Article 196^1 paragraph (3) of the
Law no. 31/1990 on companies (the Company Law), as it was
introduced by the Law no. 441/2006 for the amending of the
Company Law;
2. Proposal for the regulation of the single shareholder simplified
public company (SSSPC) into the national legislation according to
the French model (Société par Actions Simplifiée Unipersonnelle SASU).
KEYWORDS
Law, SSSPC (the single shareholder simplified public company),
EURL – Entreprise Unipersonnelle con Responsabilite Limitee,
Associate/shareholder, employee, chair of the board
Law I
103
Considérations théoriques relatives à la société
européenne – étape importante dans le processus
d’uniformisation du droit des sociétés
dans l’Union Européenne
Iona Nelly MILITARU
RÉSUMÉ
Le présent essai est structuré comme il suit: Dans le cadre de la
section intitulée « Précisions préalables » on a présenté brièvement
l’évolution historique de la réglementation de la société européenne.
Dans la première section, intitulée « La nécessité de la
réglementation de la société européenne », on a démontré que la
réalisation du marché intérieur et les conséquences positives qu’il
détermine, à l’intérieur de la Communauté, sur la situation
économique et sociale impliquent non seulement l’élimination des
obstacles de commerce, mais encore l’adaptation des structures de
production à la dimension communautaire. La deuxième section
contient une analyse synthétique des principaux aspects relatifs au
domaine d’application du Règlement du Conseil (CE) no. 2157/2001
du 8 octobre 2001 concernant le statut de la Société européenne (SE)
et de la Directive no. 2001/86 CE du 8 octobre 2001 sur la
complétion du statut de la Société européenne en ce qui concerne
l’implication des salariés. La troisième section se réfère à
l’obligation des Etats Membres de s’assurer que les dispositions
applicables aux sociétés européennes en vertu du règlement sont
respectées.
MOTS CLÉS
Uniformisation, droit des sociétés, société européenne, règlement,
directive, marché intérieur
104
Law I
ISSUES IN MANAGEMENT
ACCOUNTING
Chairperson:
Alain BURLAUD
Hall “Robert Schuman”
Friday, June 22nd 2007, 11:00 - 13:00
106
Issues in management accounting
How to measure the business performance: on the
sport clubs
Jiří STROUHAL
Czech University of Life Sciences, Department of Trade and Finance
ABSTRACT
Text deals with the problem how to measure the business
performance of the sport clubs on regular basis. Performance
indicators can look at the internal performance of the club, including
a focus on controllable costs and overheads, general financial
management and also the way in which it generates revenues from
its market and exploits its commercial potential. Indicators also can
look at the external performance of the club, as it interfaces with
fans, commercial partners and other groups. These indicators can be
also used for comparisons against other clubs in the football (or
another sport) industry.
KEYWORDS
Business performance, sport industry, indicator, measurement
107
L’évolution du contrôle de gestion
dans le contexte de la mondialisation
Florinel Marian SGÂRDEA
Loredana DǍUŞ
Académie d'Études Économiques, Bucarest, Roumanie
Liviu MATAC
Ministère de l’Éducation et de la Recherche, Roumanie
Cleopatra ŞENDROIU
Académie d'Études Économiques, Bucarest, Roumanie
RÉSUMÉ
Aujourd’hui, après plus d’un siècle d’existence, les méthodes
classiques du contrôle de gestion sont fréquemment remises en
question pour leur incapacité à répondre aux évolutions récentes de
l’environnement. L’évolution des outils de gestion pour pallier aux
effets (traitement des charges indirectes plus complexe, évincement
de certains coûts, complexification du système décisionnel, etc.)
induits par la dissonance entre instrument de gestion et modification
de l’environnement est à l’heure actuelle indispensable.
Le contrôle de gestion ne doit plus uniquement mesurer des objectifs
de quantité et de productivité, mais aussi des objectifs de délai, de
qualité, de flexibilité et de coût global qui contribuent au pilotage de
la valeur. Les nouvelles données de la concurrence ont pris une part
importante, voir même prédominante, dans le pilotage de
l’entreprise. La compréhension de l’entreprise est donc une étape
indispensable afin de fournir un contrôle de gestion efficient.
MOTS CLÉS
Contrôle, méthodes traditionnelles, ventilation des charges, pilotage,
valeur, transversalité
108
Cultural causes and effects in
managerial accounting
Flavius Andrei GUINEA
Cristina Maria STANCIU
Cătălina GORGAN
ABSTRACT
From the theoretical point of view, it has been stated that there is a
considerable probability that some cultural aspects could affect the
managerial accounting. While this statement has a certain
suppositional degree, we will try, through a literature review, to put
to the test the importance of culture within the managerial
accounting. Several empirical approaches underline the existence of
a powerful impact of the national culture on the managerial
accounting systems. It is clear that the companies’ strategic
objectives are often expressed in numerical terms, but they are
chosen according to the culture. Because of the obvious pressures
aimed to converge to international standardization, trying to
understand different cultural bases of managerial accounting may be
considered a paradox. All over the world, it seems that there are
common interests to increase the use of similar practices of financial
accounting. But, by taking a closer look, two tendencies may be
pointed out: the acknowledgement of the importance of cultural
influence and the threat of the globalization. At the end of this paper
we conclude that every company must be aware of the cultural
impact over managerial accounting and they should not accept the
globalization tendency by all means.
KEYWORDS
Managerial accounting; culture; setting objectives; multinationals;
management control
109
Transfer pricing and responsibility accounting
Georgeta VINTILĂ
Eugen BRĂDEAN
ABSTRACT
The paperwork „Transfer pricing and responsibility accounting
intends to underlying the relevance and utility of one key element in
the accounting domain, respectively „transfer pricing”, but also the
implications of it in an accounting environment related to this
aspect. In this purpose we will depict the following main
problems/aspects: methods of transfer pricing including their
advantages and limitations aiming to distinguish between the
differences of different concepts of full costing and variable costing
as well as showing a cost income statement in CVP analysis. In
addition, we aims to in-depth explains the distinction that should be
made between the concept of cost center, profit center and
investment center. In the same time is arguing the contribution of
responsibility margin and the need of a responsibility center
information as well as explaining the usefulness of the contribution
margin and responsibility margin in taking short and long term
decisions.
KEYWORDS
Transfer prices, investment center, profit center, responsibility
accounting system, common fixed assets
110
Le budget des systémes d’information
Maria BOLDEA
Bogdan Ion BOLDEA
RESUMÉ
Toutes les grandes et les moyennes entrepprises, laplupart des
administrations sont dotées d’un budget informatique. Cependant les
pratiques constatéessont assez différentes d’une entreprise à l’autre.
Malheureusement les coût ainsi évalués sont plus ou moins complets.
Ils permettent d’avoir une appréciation plus ou moins exacte des
dépenses informatiques faites par l’entreprise. L’observation des
pratiques budgétaires des entreprises en matiére informatique fait
apparaître des tendances qu’on retrouve, sous une forme ou sous
une autre, dans la plupart des entreprises. Le contrôle de gestion des
services informatiques se fait selon les méthodes générales, en
s’adaptant aux deux aspects du métier: l’exploitation et la conduite
de projets. Ces méthodes standard ont du mal à bien fonctionner. Les
raisons sont multiples: l’innovation, la baisse des prix, la complexité
croissante, la dissémination des responsabilités, les effets
synergétiques, l’irréversibilité des projets.
MOTS CLÉS
Budget, dépense, coût, service informatique, contrôle de gestion
111
La valorisation des coûts cachés
dans l’organisation
Loredana DǍUŞ
Académie d’Études Économiques, Bucarest, Roumanie
Florinel Marian SGÂRDEA
Liviu MATAC
Ministère de l’Éducation et de la Recherche, Roumanie
Cleopatra ŞENDROIU
RÉSUMÉ
Les coûts cachés sont des coûts visibles et invisibles dans le système
comptable dus à l’organisation et aux comportements humains. Les
outils traditionnels de comptabilité analytique et générale s’avèrent
inadaptés pour éclairer les coûts cachés et cèdent la place à des
techniques spécifiques.
L’existence des coûts cachés repose pour partie de la relation entre
l’organisation et les hommes. De cette relation complexe vont naître
des dysfonctionnements à l’origine de coûts cachés.
Identifier les coûts cachés va permettre d’évaluer les surcoûts et
manque à gagner et donc d’indiquer les axes de travail.
Aussi, même si on ne peut espérer raisonnablement les réduire à
zéro, les coûts cachés constituent un enjeu économique énorme pour
les organisations qui savent les identifier.
De cette identification des coûts cachés doit naître un processus de
recherche des causes et de solutions.
MOTS CLÉS
Coûts
cachés, coûts
dysfonctionnement
visibles,
évaluation,
absentéisme,
112
AUDIT AND CORPORATE
GOVERNANCE
Chairperson:
Recep PEKDEMIR
School of Business, Istanbul University
Hall 0320
Friday, June 22nd 2007, 11:00 - 13:00
114
Audit and corporate governance
Corporate governanace and internal audit
Victoria STANCIU
Eden ALI
ABSTRACT
The present paper is an action research having the objective to
underline the management expectation regarding the internal audit
and the role of internal audit function in the organisation. The paper
is the result of the investigation made by the authors, their practical
experience and solid documentation in the field. The management
performance is given by the success in accomplishing the established
objectives. The internal audit has the atribution to examine the
efficiency of the management in implementing the policies, to assess
the operations’ efficiency, to assess the results in achieving the
established objectives. IA has the role to examine the conformity of
the internal systems with the applicable legislation and regulation
helping the management to observe the legislation and internal
regulations. The management role is to identify the signifiant risks
and to implement adequate controls. The IA evaluates the quality of
the risks’ management and suggests means to improvement. The IA
assesses the eficiency of the internal control systems. IA helps
organisation to accomplish its objectives and improve the risk
management, control and governance processes.
KEYWORDS
Internal audit, governance principles, risk assessment, control
assessment
115
An evaluation on narrative disclosures
of corporate risks
Normah AHMAD
MARA University of Technology, Malaysia
Stephen WARD
University of Southampton, United Kingdom
ABSTRACT
This paper reviews the methodological issues of evaluating risk
disclosure in annual reports. One of the issues is the dimensions
through which the quality of narrative risk disclosure can be
assessed. Evaluations of risk disclosure have been based upon mere
counts and also, attempts to quantify the quality of risk information
disclosed. But disclosure quality is inherently immeasurable. There
is no accepted notion of disclosure quality. Quantifying disclosure
quality such as transparency is also difficult. Thus, this paper makes
suggestions for improving evaluation methodology based on
analysing narrative sections of selected Malaysian corporate annual
reports for the year 2001 to 2004. All risk information in accounting
narratives was identified using content analysis. The analysis
provides evidences as to significant differences in terms of both the
quantity and quality of risk information disclosed. This analysis
highlights the complexity of risk disclosure issues. The implications
of this complexity are briefly explored.
KEYWORDS
Evaluation, narratives, corporate risk, disclosure quality
116
Auditing economic substance of transactions with
related parties: auditor’s position to influence
direction of cross-border investments
Marina SERAFIMOSKA
Atanasko ATANASOVSKI
University "Ss. Cyril and Methodius", Skopje, Macedonia, TFYR
ABSTRACT
Globalization of world economy in 21st century, spreading interests
of multinational companies has released economic borders and
obstacles worldwide. Foundation and acquisition of almost every
economic cell that creates value by few leaders of modern business,
questions, conditions and terms of economic transactions between
group members, their recording and presentation in front of the
public worldwide. Economic substance of transactions with related
parties can’t be considered only as precondition for accurate and
objective determination of local corporate tax liability, but
prerequisite for true and fair view on financial performance and
position of each reporting entity. Auditors considering policies and
procedures for identification, proper recording and disclosure of
related party transactions increasing credibility in standalone
financial statements, influence economic decisions of investors and
lead investments towards greater global growth and welfare.
KEYWORDS
Auditing, economic substance, related parties, financial statements,
disclosure
117
The corporate governance and the process of
regulation and implementation
Maria MANOLESCU
Aureliana Geta ROMAN
ABSTRACT
The changes of the Law regarding trading companies, made through
the Law no. 441/2006, published in the Official Paper
no.955/28.11.2006, had as objective adapting its provisions to the
principles of the Organization for Economic Cooperation and
Development concerning the governance of trading companies. In
our opinion, the following aspects should be pointed out in this
context: the new provisions of the law concerning the management of
companies either in a unitary system or in a dual system and the
explicit requirements concerning the forming of the consultative
committees (the Audit board, the Remuneration Committee etc.).
Taking into consideration the fact that in practice there are still
confusions concerning the role of the audit committee, the internal audit,
as well as concerning the governance and its role in the companies’
management, the present research paper has as purpose the analysis of
the content of the legal regulations in this area, in order to establish to
what extent the regulation system contributes to this situation.
The analysis pointed out the main provisions of the reference normative
papers that, in the opinion of the authors, can generate confusions.
There were also formulated solutions, in order to avoid starting an
“original” process of implementation of the corporate governance.
KEYWORDS
Audit board, internal audit, financial audit, financial auditor,
governance, company management
118
Globalization - a challenge for internal control and
audit in banking system
Cristina PALFI
Babeş-Bolyai University , Cluj-Napoca, Romania
ABSTRACT
The recent evolution of Romanian banking system, profoundly
marked by globalization, has increased the need of a prudential
supervision in order to maintain stability and confidence in the
financial system.
Considering Romania's adherence to the European Union, the
framework for both internal control system in credit institutions and
their internal audit function needed to be revised taking into account
all the requirements settled by the Basle Committee on Banking
Supervision.
Therefore, banks' internal control system had to be built on essential
elements in order to ensure that the bank will comply with laws and
regulations, will achieve long-term profitability, will maintain
reliable financial and managerial reporting and will decrease the
risk of unexpected losses or damage to the bank's reputation.
In addition, the internal audit function, to assure its finality - the
most effective co-operation between the supervisor, the internal
auditor and the external auditor - had to be organised among certain
principles.
KEYWORDS
Globalization, risks, internal control system, internal audit, banking
supervision
TAXES AND PUBLIC ACCOUNTING
Chairperson:
Ümit GÖKDENİZ
Marmara University, İstanbul, Turkey
Hall 0321
Friday, June 22nd 2007, 11:00 - 13:00
120
Taxes and public accounting
The development of governmental accounting in
Turkey during the republican era
Fatih Coşkun ERTAŞ
Pelin GÜVEN
Gaziosmanpaşa University, Turkey
ABSTRACT
When the development process of Turkish Accounting System is
examined, it can be seen that governmental accounting which is
applied in non-profit organizations hasn’t developed as much as the
public accounting which is for profit-oriented businesses. However,
the efforts to change the Governmental Accounting System have
resulted in a significant improvement through the Public Financial
Management and Control Law No 5018, which went into practice in
2003, and then Governmental Accounting General Regulation which
was put into effect in 2005. In line with these improvements, the
application of the accrual basis of accounting has begun in all the
units of the general government as of 2006. In this framework, this
study discusses the changes in the governmental accounting system
and examines the accrual basis of accounting within the framework
of the legal arrangements.
KEYWORDS
Governmental Accounting, Turkey, The General Accounting Law No
1050, The Public Financial Management and Control Law No 5018
121
Designing an evaluation grid to assess a water tax
system – a practical approach based on facts
Alexandra MUŢIU
Dumitru MATIŞ
Adriana Tiron TUDOR
Carmen BONACI
Adrian INCEU
Babeş-Bolyai University, Cluj Napoca, Romania
ABSTRACT
The research developed in the paper is made on the ongoing project LOGO
East Program of VNG International no. 05.13 Equilibrium: restore the
balance between expenses and income, financed by the Social
Transformation Program Central and Eastern Europe (Matra) of the
Netherlands Ministry of Foreign Affairs. The aim of the project is to elaborate
a proper tax system for financing the maintenance costs against flooding.
The objective of the paper is to describe the way the first stage of the project
was accomplished by designing an evaluation grid and a questionnaire
considered to evaluate the tax system in the project partners’ countries.
The research is carrying out using scientific research, literature
review and benchmarking as the proper instrument to accomplish the
goal of the project.
The contribution of the paper consists in presenting the relevant
aspects and elements took into consideration in the evaluation grid
and questionnaire’s design.
As a part of a challenging project, the results of the research
presented will be use to implement an appropriate tax system in the
project beneficiary’s country.
KEYWORDS
Benchmarking, evaluation, tax system, evaluation grid, blueprint
122
Events and troubles along with the accession to the
European Union; accounting information
regarding the intra-community VAT
Nicoleta FARCANE
Leonora CACIUC
Ovidiu MEGAN
ABSTRACT
Along with the Romanian accession to the European Union, the
regulations regarding the value added tax were changed. These new
regulations regarding VAT, with a simplifying role, are necessary for
the intra – community transactions. The place of the delivery is
considered to be the place where the goods are at the moment the
transportation begins. In the case of an intra-community acquisition
of goods, the place of the operation is considered to be the place
where the acquisition ends. Thereby, two new operations which are
included in the applications sphere of the tax have been implemented
– intra-community delivery of goods, and intra-community
acquisition of goods. Also, new aspects related to the booking of the
VAT are interfering according to the assessment of the place where
the services are performed.
Nowadays, these changes are a challenge for the professional
accountant, who is put in the difficult position to think hard before
booking an entry, and this is the main reason for the analysis of the
powerful impact of these changes and the reaction to these changes.
KEYWORDS
Taxation, VAT, European Union, community transactions
123
La globalisation de l’information comptable la
publique en Roumanie par SICP
Aurelia ŞTEFĂNESCU
Eugeniu ŢURLEA
Ileana NIŞULESCU
Monica DUDIAN
Rodica GHERGHINA
Académie d’Etudes Economique, Bucarest, Roumanie
RÉSUMÉ
La globalisation et l’élargissement de l’Union Européenne constituent les
prémisses d’une circulation des flux informationnels à des niveaux
supérieurs. Dans ce contexte, démarre une nouvelle étape pour la
comptabilité des institutions publiques roumaines. Notre travail étudie la
possibilité d’appliquer les Normes comptables internationales pour le secteur
public (IPSAS) dans les conditions du système de financement actuel des
institutions publiques. Nous recherche identifiera les failles des pratiques
comptables actuelles et proposera des solutions aux besoins informationnels
réels des institutions publiques qui intègrent parfaitement les réalités de la vie
économique et sociale du continent et d’ailleurs.
Notre démarche propose une synthèse des articles publiés par les
normalisateurs comptables roumains et internationaux, les organismes de la
profession comptable, des travaux proposés aux débats sur ce thème, mais
aussi des données fournies par les institutions publiques.
Notre recherche se donne pour but constructif de structurer la problématique
de la mise en pratique des IPSAS (International Public Sector Accounting
Standards) dans les institutions publiques, tout en mettant l’accent sur la
nécessité d’offrir aux utilisateurs des informations pertinentes, crédibles et
comparables.
MOTS CLES
Comptabilités de caisse, comptabilité d’engagements, comptabilité en espèce,
capitaux propres, états financiers, résultat patrimonial
124
FINANCIAL ANALYSIS
Chairperson:
Petru ŞTEFEA
Hall 0319
Friday, June 22nd 2007, 11:00 - 13:00
126
Financial analysis
Analysis of sugar industry’s
perspectives in Romania
Vasile ROBU
Ştefania-Cristina CUREA
Teodora SERBAN-OPRESCU
Grigore Ioan PIROSCA
ABSTRACT
For Romania, the sugar industry is the most eloquent example of the
decline of a food industry sub-branch. Romania has become in a few
years a sugar importer country, although it owns a natural potential
for producing the entire quantity necessary for the domestic
consumption from its own production.
Firstly, we are aiming to present hereby a retrospective of the sugar
industry for the period 1989-present, period when the agricultural
surface cultivated with sugar beet has dramatically decreased, the
inland sugar production collapsing during the same short time.
Secondly, the work focuses on the impact of Romania’s accession to
the European Union, the result of the negotiations with UE being
extremely good, if we are to look at the industry’s performances
during the last years.
The last part of the work presents perspectives related to the domestic
production and setting up possible variants of producing the sugar
quantity necessary to the consumption from inland production.
Consequently, we bring into view three scenarios when the selfacquisition of sugar is performed in proportion of 50%, 75% and 100%.
KEYWORDS
Analysis, sugar industry, accession to UE, sugar production,
previsions, scenarios
Financial analysis
127
Accuracy of symbolic modeling used in the
economic-financial analysis practice. Risks
generated in the business environment
Elena Claudia ŞERBAN
Daniela ŢUŢUI
ABSTRACT
In a competitive economy, the economic – financial activity of the
firm imposes an accurate consideration and dimensioning of the
useful indicators for the business’s performances evaluation. The
objective of the undertaken research is the enunciation of principles
and rules for the elaboration of symbolic models of the economic
phenomenon. The qualitative analysis and the operational research
used during the undertaken study have led to the conclusion that
some approaches of the specialists in the domain are inappropriate,
but they still circulate among users, becoming “customs”. This
attitude in the practice of the economic – financial analysis can
generate major risks in the business environment. The investigation
of this problem has been materialized in the elaboration of
instruments that are within reach of users, capable to evaluate the
economic phenomenon in a relevant way, which will allow the
optimization of the methodologies specific to the identification and
prevention of risks in the economic – financial activity of the
company.
KEYWORDS
Analysis, business environment, symbolic modeling, indicators, risks
128
Financial analysis
Capital allocation – variable within the strategic
intercession to determine the value
Monica PETCU
Iulia DAVID-SOBOLEVSCHI
ABSTRACT
Company’s viability is secured when it generates enough value for
its owners, so that the risk undertaking should be justified as
compared to other investment opportunities.
The definition of the enterprise value as market value of economic
assets, in counter-part with the market value of the won capitals and
of the financial debts, allows identifying and directing the analysis
towards the two managerial actions: investment projects selection,
depending on their capacity of giving out value, and the choice of
financial structure, based on the same view, generating value.
The enterprise perception on the market is based on the return and
risk requirements of investors secured by the performances of the
actual assets, any insufficiency materializing in a financial
sanctioning represented by the decrease of the enterprise’s value.
The financing structure aims at reaching an optimum balance
between various financing sources, the decisions in this field playing
a determinate role in relation with the average weighted cost of the
capital and of the value of an enterprise.
The correlation between the enterprise’s ability of generating value
and the enterprise’s capacity of sustaining its growth are variables
of the financial strategic action.
KEYWORDS
Capital allotment, assets return rate, financial structure, capital
average weighted cost, value indicators
Financial analysis
129
Implementation of particle swarm optimization in
construction of optimal risky portfolios
Yaghob FARJAMI
Tehran University, Iran
Mohammad Ali DASHTI
Islamic Azad University, Science and Research Branch, Tehran, Iran
ABSTRACT
Since Markowitz’s substantial work, the mean-variance model has
revolutionized the way people think about portfolio of assets.
According to the modern portfolio theory, the fundamental principle
of financial investments is a diversification where investors diversify
their investments into different types of assets. Constructing an
optimal risky portfolio is a high-dimensional constrained
optimization problem where financial investors look for an optimal
combination of their investments among different financial assets
with the aim of achieving a maximum reward-to-variability ratio.
Among the various methodologies suggested, the most popular one is
based on maximizing the well-known Sharpe ratio.
In this study, we apply particle swarm optimization (PSO) for
constructing optimal risky portfolios based on Sharpe ratio for
financial investments. A particle swarm solver is developed and
tested on a risky investment portfolio. The method is applied to a
sample of stocks in Tehran Stock Exchange. Experimental results
reveal that the proposed PSO algorithm provides a very feasible and
useful tool to assist the investors in planning their investment
strategy and constructing their portfolio.
KEYWORDS
Modern portfolio theory, Sharpe ratio, optimal risky portfolio, PSO
130
Financial analysis
The prediction of bankruptcy using back
propagation algorithm for “Altman”
model analysis
Ciprian-Nicuşor DRAGOTĂ
Babeş-Bolyai University, Cluj – Napoca, Romania
ABSTRACT
The basic question which every bank it puts when a client or a future
client whishes to take a bank loan is “The future debtor it’s capable
to refund the loan at maturity? (Installments plus the interest) “. To
answer at this question the bank makes an assessment in which
assets and liabilities are analyze. There is also assessed the credit
rating, the cash flow, the securities and, very important, bankrupt
risk analysis. For the last one, to calculate bankrupt risk analysis,
banks use some models (knows as “Z” score). Few of them are
financials methods (like Altman, Canon & Holder, Yves Colonques
etc). Without pretending to be able to penetrate over the complexity
of the phenomenon, this study is trying to do a practical and
experimental analysis of bankruptcy using back propagation
algorithm applied to the ”Altman” model.
KEYWORDS
Bank, credit, model,
“z” score model.
back
propagation,
financial
analysis,
Financial analysis
131
The analyse and the modelling
in insurance decisions
Adrian Victor BADESCU
Adriana Elena SIMION (ISTRATE)
ABSTRACT
Insurance, in law and economics, is a form of risk management
primarily used to hedge against the risk of potential financial loss.
Insurance domain has a very important status in the globalization
context and social transformation.
Starting this year, Romania has a mandatory house insurance policy.
This type of insurance covers the risk of earthquake, floors and earth flow.
To determine the impact of this type of insurance over the financial
status of the insurance companies, complex financial analysis is
needed. For this analyse we must taking consideration the houses
and the possibilities of insurance companies factors.
In this paper we would like to present and analyze the impact of
mandatory house insurance from the financial point of view of
insurance companies. To do this we will make a rentability analyse
and we will study the specific indicators.
KEYWORDS
Decision, insurance, profit, loss, portfolio
132
Financial analysis
E-BUSINESS
Chairperson:
Mihaela I. MUNTEAN
Hall 0317
Friday, June 22nd 2007, 11:00 - 13:00
134
E-Business
Managing e-business applications in the
globalization context
Pavel NĂSTASE
Floarea NĂSTASE
ABSTRACT
Electronic business are different than other business because it
involves any commercial or business activity that takes place by
means of electronic facilities(buy and selling online), including on
the Internet, proprietary networks and home banking, instead of
through direct physical exchange or contact. This system creates an
environment that operates at a much greater speed than traditional
methods and involves much less paper–based evidence of activities.
A typical e-business application depends not only on the hardware
and networking, but also on software ranging from the operating
system to middleware such as databases, web servers and
messaging, to the applications themselves. Service Level
Management is a means for the lines of business and an IT
organization to explicitly set their mutual expectations for the
content and extent of IT services. It also allows them to determine, in
advance, the steps that will be taken if these conditions are not met.
This paper tries to present an analysis of managing components for
e-business applications in globalization context in order to establish
the straights and weaknesses points. The most common concerns
associated with the use of e-business systems include fraud, privacy,
theft of confidential information, customer impersonation, virus or
other denial of service attacks and loss of consumer confidence as a
result of any of these occurrences.
KEYWORDS
E-business, global electronic marketplace, COBIT, IT Governance
E-Business
135
Efficiency and risks in e-business management
Ilie TAMAŞ
Delia BĂBEANU
ABSTRACT
In Information Technologies and Communications era, many
enterprises search for new ways to improve relationships with
customers and suppliers, with other enterprises, following to reduce
the business processes risks, optimize the stocks, adopting some
essential decisions.
Investments in information technologies became priority for
enterprises, which are used for systems of e-business management,
currently. Using this system must reduce: spore of productivity,
reducing production costs, remove negative effects from that
enterprise activity, profit spore, advanced protection, safe
information content, availability, permanent control, and others.
These indicators can be estimated (we have some proposals) to
obtain a quantification of the usage efficiency of systems of ebusiness management.
In this paper work, it is presented a lot of idea regarding the
economic efficiency assessment by using a system of e-business
management, the calculation of some indicators, assessment of
information systems risks and proposing of some measures to
counteract them to assure data security.
KEYWORDS
E-business management, e-business efficiency, information system
risks, security measures, information technologies
136
E-Business
Cadre général de la gouvernance de l’Internet
Vasile FLORESCU
Ionuţ ANICA-POPA
Liana ANICA-POPA
RÉSUMÉ
L’Internet passe d’une simple infrastructure de communication à
l’infrastructure de la société de l’information. Son évolution a très
vite fait apparaître la nécessité de mettre en œuvre une coordination
mondiale. Le terme de gouvernance porte en lui le statut complexes
de l’Internet, et soulève de nombreuses questions. Les publications
font état de divergences de vues sur les concepts de base, les champs
d’application, les mécanismes et les modèles qui convient à la
gouvernance de l’Internet.
S’appuyant sur une exploration de la littérature, notre recherche
apporte à la compréhension du cadre général de la gouvernance de
l’Internet: (a) régulation de l’Internet, (b) définition de la
gouvernance de l’Internet et (c) le système de gouvernance de
l’Internet.
MOTS CLÉS
Internet, régulation de l’Internet, autorégulation, co-régulation,
gouvernance de l’Internet, système de gouvernance, mécanismes de
gouvernance
MANAGEMENT INFORMATION
SYSTEMS II
Chairperson:
Alexandru ŢUGUI
„Alexandru Ioan Cuza" University, Iaşi, Romania
Hall 0420
Friday, June 22nd 2007, 11:00 - 13:00
138
Management information systems II
Persistence management or how to add value to
the object model
Florin MIHAI
Cristina Venera ŢARŢAVULEA
Ofelia ALECA
Andrei STANCIU
Vasile GORGAN
ABSTRACT
This paper discusses a problem that most of programmers fascinated by the
object oriented paradigm had to face: how to save objects? Almost all
programming languages that support this paradigm solve the problem
mainly by using data files. This type of support is not entirely satisfying
especially when large amount of data is involved. As object oriented
platforms evolved, it has come out the possibility of saving objects, most of
the cases, into a relational database. This solution requires the conversion
of the object model into a relational model in order to allow the saving of
objects. It still remains the problem regarding the interface between the
language and the database management system and moreover the lack of a
language for data manipulation. The answers to these problems consist of:
• Defining intermediate classes between the programming language
and the database used;
• Using software packages that act as an interface between
programming language and a database management system. In the
second part of the paper we present, from both theoretical and practical
point of view, the advantages of the two previously mentioned methods
in what concerns the elegant alternatives for the implementation of the
persistence concept, from the object oriented paradigm.
KEYWORDS
UML, object model, object persistence, Microsoft .NET
139
The OLAP concepts and
object-relational databases
Mihaela MUNTEAN
ABSTRACT
A key to survival in the business world is being able to analyze, plan
and react to changing business conditions as fast as possible.
With multidimensional models the managers can explore information
at different levels of granularity and the decision makers at all levels
can quickly respond to changes in the business climate–the ultimate
goal of business intelligence.
Multidimensional modeling and the multidimensional models use
concepts like: facts, dimensions, hierarchies, measures. This paper
focuses on the implementation of the multidimensional concepts into
object-relational databases. The multidimensional model can be
transformed into a UML class diagram. Next I translate a UML class
diagram into an object-relational database schema using an
ORDBMS.
Because the Star schema is widely accepted as the most viable data
representation for multidimensional analysis in special in relational
databases, I presents also a comparison between UML class diagram
and star schema regarding the multidimensional modeling concepts.
KEYWORDS
Multidimensional
ORDBMS, UML
models,
fact,
dimension,
hierarchies,
140
Modern software technologies used for budgeting,
planning and financial consolidation
Mirela OANCEA
Vasile GORGAN
Valentin DUMITRU
ABSTRACT
Spreadsheets have been for many years at the forefront of the
technologies used in budgeting, forecasting and reporting. While this
seems to be a convenient solution for small companies, problems
arise for midsize or large ones. There are studies showing that an
important percent of the spreadsheets that exceed 150 lines contain
errors. So, why are the spreadsheets being used? Especially because
they are easy to understand, have a low cost and a simple user
interface.
The need for more robust, meaningful and accurate financial
information has lead to the use of new technologies like OLAP,
which can assure fast data processing while preserving data
integrity and accuracy.
This paper attempts through a literature review and practical case
studies to analyze the most used IT solutions for budgeting, planning
and financial consolidation, to identify the problems and to
determine how new technologies can be used to overcome them.
KEYWORDS
Decision making, spreadsheet, OLAP, TCO, budgeting, planning
141
Text-to-Speech solution based on MBROLA
Engine for developing input data forms
Traian SURCEL
Cristian PETRE
ABSTRACT
The TTS technologies transform a sequence of words in sounds by
the synthesis of the human voice. We considered that the TTS
technologies are useful to improve the quality the computer - human
interface in management information systems. We developed a
software solution based on MBROLA Synthesizer and VB programs
for building of the input data forms. MBROLA- Multilingual Speech
Synthesizer, is a free software with a Romanian language phonetic
units data base. MBROLA use units’ selection concatenation as the
method of generate and playing sounds. First it must to find and
extract the diphon units from the MBROLA data base using the
phonetic description of the text. After this, using also the prosody
information linked to the diphone, such as duration of the phonemes
and linear description of the intonation of sounds, the MBROLA
Engine plays the words. The VB–MBROLA interface performs in the
first stage the front-end processing of the text, the text normalization
and generating of the text-to-diphone representation. In the second
stage, the back-end processing, VB program uses the MBRALA
functions and a phoneme-player to generate vocal messages. The
user answer to vocal messages by entering input data required by the
form designed with VB.
KEYWORDS
Text-to-speech, Mbrola - engine, computer-human interface,
information system
142
Performance indicators in
multidimensional analysis
Dana Maria BOLDEANU
Mirela GHEORGHE
ABSTRACT
In the context of helping any company to move from the desire to
obtain performance to action through better and faster decisions,
facilities like data warehouse, business intelligence systems and
decisions support systems are available now to make it possible.
The performance is an abstract concept, an extremely important one,
which has to be put into a proper perspective from the point of view
of the organization, of the performance indicators taken into
consideration, of the models proposed for establishing performance
and of the chosen software.
The study case has as objectives the analysis of the most important
financial and economic indicators at the level of some organizations
from the same sector of activity, the selection of performance ratios
and determining a particular model of analysis, a “score” type of
function for which we will use modern techniques of
multidimensional analysis, like Data Mining techniques. In our case,
the data used to calculate the economic and financial ratios were
collected from companies’ annual reports, using the Internet as the
primary source.
Also, a comparative multidimensional analysis of the organizations,
of products types, sales area and customers can offer a panoramic
view over the performance in that sector of activity.
KEYWORDS
Performance indicators, data mining, multidimensional analysis
CAPITAL MARKET AND CORPORATE
GOVERNANCE RESEARCH IN
EASTERN EUROPE
Chairperson:
Allan HODGSON
Hall 0320
Friday, June 22nd 2007, 14:00 - 16:00
144
Capital market and corporate gov. research in Eastern Europe
The value relevance of earnings and a puzzling
negative earnings change coefficient in an
emerging market context: a possible explanation
Andrei FILIP
Bernard RAFFOURNIER
ABSTRACT
Little value relevance studies have been conducted on small or
emerging markets. Among a recent exception, Hellstrom (2006)
investigates the usefulness of accounting information in the Czech
Republic. A puzzling result is a negative coefficient of earnings
changes. The author claims that "the market can see whether the
change is transitory and that the earnings will revert to a normal
level in the next accounting period." However, this explanation is not
satisfactory. We argue that the negative earnings change coefficient
may be due to the inefficiency of the market. Using a sample of
companies listed at the BSE, we first confirm the puzzling result.
Next, we report evidence that the negative earnings change
coefficient may be explained by the particularities of an emerging
market, i.e. low transparency and lack of other information sources.
KEYWORDS
Value relevance, emerging market, negative earnings change
coefficient
145
The relation of the market ratios to the financial
ratios in the Romanian companies
Camelia VASILESCU
ABSTRACT
Financial statement ratios analysis is considered to be a very
powerful analytical technique in assessing the performance of the
business enterprise. In literature it has been demonstrated that
fundamentals determine the multiples, as well as the changes in these
fundamentals translate into changes in the multiples. The results of
our empirical study conducted over a 200 listed Romanian firmsample, reveal that there is only a weak relation between financial
ratios and market-based ratios and it can be regressed by nonlinear
regression models. The low value-relevance of financial-accounting
information over the market performance of the Romanian
companies was mainly due to the high volatility of financial data in
the context of an unfriendly business environment. The accounting
reform in Romania has made a relative progress, but the investors on
the capital market prefer to use especially non-financial statements
information for making their portfolio investment decisions, being
concerned with the accuracy and readability of the companies’
accounting reports, transparency of information regarding capital
flows and the application of familiar (standard) accounting
principles based on recognized and applied IFRS framework.
KEYWORDS
Financial statement analysis, financial ratios, market ratios, valuerelevance of fundamentals, accounting system reform
146
PhD STUDENTS MANAGEMENT
INFORMATION SYSTEMS
Chairperson:
Alan LORD
Presentation:
“CIEL Professional: The Efficient Tool for Managers and
Accounting Professionals”
Dan MORARU
CIEL Romania
Hall 0321
Friday, June 22nd 2007, 14:00 - 16:00
148
PhD Students Management Information Systems
Enterprise application integration
Lenuţa ILEANA
ABSTRACT
Under the pressure of a competitive business environment and due to
increasing dependence on technology, the need of integrating
disparate applications into a unified set of business processes has
been appeared as a priority. The solution is offered by EAI,
providing a flexible and robust integration framework, with a
minimum impact on the applications and the way an organization
does business.
Enterprise Application Integration (EAI) is a set of technologies that
focuses on the business issues that allows the exchange of
information between different applications and business processes
existing either inside or outside an organization. EAI provide the
integration of various applications so that they may share
information and processes, answering for requirements of a business
environment oriented to more mobility and the need of getting
information from various location.
The aim of this work is to survey the EAI components, EAI
architectures, technologies used to connect enterprise applications
and benefits of EAI versus traditional middleware. Results are
presented for a work study:”the banking front-office and back-office
integration”.
KEYWORDS
EAI, components, architectures, technologies
149
New capabilities and features for managing
schema objects in 10g Oracle database
Maria-Carmen PÂNGĂLEANU
ABSTRACT
It is very important for a database management system to offer many
tools that help databases administrators work more efficiently,
freeing them for more strategic and creative tasks. Oracle Database
10g really is that big of a deal for databases administrators.
In this paper, I will provide brief, focused analyses of these
interesting new tools and techniques for managing schema objects.
The goal is to outline the functions and benefits of the feature so that
you can put it into action in your environment as quickly as possible.
The paper is a case study for determine appropriate table types for
our requirements: heap, partition, IOT or cluster. In addition, the
paper contents a description of four databases administrator’s tasks
for schema management
KEYWORDS
Partition, schema objects, cluster, database management
150
Managing change – XML’s evolution and impact
on modern computing
Dragoş MANGIUC
ABSTRACT
Among the many Internet-based technologies which emerged in the
last ten years, the Extended Markup Language (widely known as
XML) was the only one able to change the face of distributed
computing, e-commerce and web services forever and in a radical
manner. Using XML nowadays has important consequences on all
kinds of business processes, as financial, accounting and business
XML applications become more and more popular. Web 2.0, the
latest “wave” of Internet based services (expected to replace most
desktop applications in the near future) is XML-centered and so the
evolution of XML reached a new level, far from being over. This
literature review and action research follows the evolution of XML
and its objective is to assess this technology’s impact on modern
computing and business world during the nine years since its first
version was adopted as a standard by the World Wide Web
Consortium.
KEYWORDS
XML, web applications, web services, computing, business
process, WEB 2.0
151
ERP Implementation methodologies
Iuliana SCORŢA
ABSTRACT
Methodology refers to a systematic approach to conducting a
business process reengineering project. ERP methodology builds on
the theory that an enterprise can maximize its returns by maximizing
the utilization of its fixed supply of resources. Information
technology with its increasing computer power and the ability to
correlate pieces of information has proven to be the best tool to do
so. In this paper I present key elements of implementation
methodologies that have been developed based on industry
experience gained over many years in business and an analysis of
the Romanian ERP implementation methodologies and their actual
level of applicability.
KEYWORDS
ERP, methodology, implementation, project management, business
process reengineering
152
Future trends in the executive information systems
of an organization in the banking sector
Mioara POPESCU
ABSTRACT
In a competitive banking environment as the actual one, the
managers not only should take the best decisions, but they also
should implement them in the shortest period of time. The challenges
related to reporting and analysis is continuously developing,
especially as a result of the Basel II Agreement's stipulations. The
paper's objective is to show future trends in the Executive
Information Systems of an Organization in the Banking Sector,
namely: to incorporate the Artificial Intelligence (AI), integrating
Multimedia Characteristics and ISDN technology, all these being
part of EIS, an efficient and effective tools, both at the senior and
middle management level. The abstract introduces the objective and
intended contribution of the research.
KEYWORDS
Executive Information Systems, Business Intelligence, Artificial
Intelligence, Multimedia Characteristics , ISDN technology, top and
middle management
PhD STUDENTS ACCOUNTING
Chairperson:
Marc NIKITIN
Hall 0319
Friday, June 22nd 2007, 14:00 - 16:00
PhD Students Accounting
154
Steps to convergence - the Romanian governance
codes and the companies’ degree of compliance
Voicu-Dan DRAGOMIR
ABSTRACT
This study seeks to estimate the degree of convergence between the
Romanian and the European regulatory framework concerning
corporate governance, up to the 1st of March 2007. Lately, the
national Company Law has been modernized in order to meet the
companies’ needs for extended governance choice and the investors’
requests for full disclosure. Romanian joint-stock companies are
regulated mainly through the Company Law 31/1990, which is a
comprehensive regulatory framework governing the creation,
organization, functioning, modification and liquidation of all types of
companies. We devise a critique of the main aspects concerning
investor protection through the Company Law, starting with the
definition of corporate governance and the description of compliance
mechanisms. We then compare the 2004 form of the Law and two
other so-called corporate governance codes, bearing only archaic
and inefficient traits of corporate governance, with its modernized
form (as amended in 2006), benchmarked against the European
Council’s Recommendations and several Expert Reports.
KEYWORDS
Company Law, corporate governance, emerging markets, European
regulations, legal convergence
155
Customer account profitability in
the globalization context
Alina Mihaela CURPĂN
ABSTRACT
The main objective of any bussines is represented by the profit
maximization. The making decisions process should concentrate on
creating value for enterprises, this can not obtained only by
production, it is not sufficient to obtain a quality good and with
reduced costs if you don’t find clients to whom you sell it. This way
the client satisfaction appears in the scene as a secondary objective
of wich the principal one results.
The client profitability influences in a decisive manner the strategic
decisions, with a direct impact on the future results of the business,
This concept can be defined s being the part of the accounting
informational system which split the performance obtained by the
economic entity in cahtegories of clients or groups of clients,
building a ierarchy of these. It starts from the premises that there are
not profitable products, only profitable clients. Manufacturing a
products generates only a costs while its selling determines the
profit. We intend to reveal the benefits of this informational system
for the profit analysis by clients through a literature review which
will have as result a management model of the clients in order to
ensure the entity competitivity on the market in the globalisation
context.
KEYWORDS
Strategic planning, customer account profitability, value creation,
value for the client, total cost for the client
156
The economic efficiency indicators of the
investments – comparative study
Daniela CIOLPAN
ABSTRACT
Investments have a complex rule in the economy, in general, and
especially of the entity level. They are a real support of the economic
and social development. In order that the investments realized within
entity to reach their goal it is necessary to evaluate the economic
efficiency of each investment project and to choose the most efficient
one. In evaluating the economic efficiency of the investments is
necessary an indicators system, because each of them surprises a
certain criterion of economic efficiency. In this study we will present
the main economic efficiency indicators of the investments, identify
the advantages and limits of every indicator in the selection of the
investment projects. The indicators analyzed are in accordance with
the concept of economic efficiency, they realize a comparison of the
obtain results with the consumption resources: net present value,
internal rate of return, payback period, profitability index.
KEYWORDS
Investment, efficiency, net present value, internal rate of return
157
Optimizing capital structure - the agency
costs perspective
Diana MANEA
ABSTRACT
For the last few decades, researchers have tried to explain the way
companies choose their capital structure and, even more
challenging, to find the optimal financial structure, the one which
minimizes capital cost and maximizes firm’s value.
One of the theories proposed to explain the financing choice of
companies is based on the agency costs. This theory suggests that
financing decisions are influenced by the companies’ efforts to
mitigate the conflicts of interest that exist between the different
stakeholders of the company (the conflict between managers and
shareholders and the conflict between shareholders and
debtholders).
According to this theory, one way of mitigating the conflict between
managers and shareholders is by increasing debt, but this
emphasizes the conflict between shareholders and debtholders,
leading to the increase of capital cost. In this context, we seek to
analyze the impact of corporate governance provisions on capital
structure.
The recent financial scandals led to attempts to strengthen the
corporate governance. This clearly interferes in the managersshareholders conflict. But how does this affect capital structure?
KEYWORDS
Capital structure, agency
governance, leverage
costs,
capital
cost,
corporate
158
Models in accounting
Mirela Elena NICHITA
ABSTRACT
A primary goal of financial reporting is aiding investors in making
economic decisions. A primary economic decision investors make is
assessing the value of firms in which they are invested or consider
investing.
The role of accounting numbers in valuation has been of
fundamental interest to analysts, investors and researchers alike.
Much of the empirical research in accounting based valuation has
revolved around analyzing historical and forecasted accounting
numbers. There is a large literature examining how accounting
amounts, including earnings, and earnings disaggregated into cash
flow and accruals, relate to contemporaneous equity values.
In my paper I will present few accounting model used in evaluation
and the implications of choosing one of those models: historical cost
model, fair value model, residual income model, linear information
model.
The research will focus on its main challenges of determining the
value drivers and forecasting earnings.
KEYWORDS
Accounting models, conservatism, earnings, evaluation
LIST OF PARTICIPANTS
AND
CONTACT ADDRESS
No
Author
Institution
1
AHMAD Normah
2
AIRINEI Dinu
3
ALBESCU Felicia
4
ALBU Cătălin-Nicolae
5
ALBU Nadia
6
ALECA Ofelia
7
ALMASAN Alina
8
ANICA-POPA Adrian
9
ANICA-POPA Ionuţ
10
ANICA-POPA Liana
11
ARDELEANU Alina
University of Southampton
"Alexandru Ioan Cuza"
University of Iasi
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
West University of
Timisoara
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
NOVENSYS
12
ASLAN Ümmühan
13
ATANASOVSKI Atanasko
14
BADEA Bogdan Ion
Anadolu University
University "Ss. Cyril and
Methodius", Faculty of
Economics - Skopje
West University of
Timişoara
E-mail
Pages
index
UK
na1@soton.ac.uk
115
RO
adinu@uaic.ro
77
RO
albescu@inde.ro
RO
catalin.albu@cig.ase.ro
17
RO
nadia.albu@cig.ase.ro
17
RO
ofemasec@gmail.com
52, 138
RO
alina.almasan@fse.uvt.ro
18
RO
adrian_anica@yahoo.com
37
RO
ionut.anica@gmail.com
71, 136
RO
liana.anica@gmail.com
71, 136
39, 78
RO
alina.ardeleanu@novensys.com
79
TR
uaslan@anadolu.edu.tr
28
MK
atanasko@eccf.ukim.edu.mk
116
RO
110
No
Author
Institution
15
BADESCU Adrian Victor
16
BĂBEANU Delia
17
BERBEC Florentina
18
BOGDAN Anca
19
BOKSOVA Jirina
20
BOLDEA Costin-Radu
21
BOLDEA Ioan
22
BOLDEA Maria
23
BOLDEANU Dana Maria
24
BONACI Carmen
25
BONACI Carmen
Giorgiana
26
BORZA Mioara
27
BRADEAN Eugen
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
University of Economics in
Prague
West University of
Timisoara
West University of
Timisoara
West University of
Timisoara
Academy of Economic
Studies, Bucharest
"Babes-Bolyai" University of
Cluj-Napoca
Cluj-Napoca
University of Iasi
Academy of Economic
Studies, Bucharest
E-mail
Pages
index
RO
adi_bad@yahoo.com
131
RO
delia@mailcig.ase.ro
55, 135
RO
berbec@mailcig.ase.ro
36
RO
socrates@ase.ro
72
CZ
boksova@vse.cz
31, 83
RO
cboldea@info.uvt.ro
54
RO
ioan.boldea@fse.uvt.ro
47
RO
mboldea@yahoo.com
54, 119
RO
danabolde@gmail.com
52, 142
RO
cgbonaci@yahoo.com
67
RO
cbonaci@econ.ubbcluj.ro
121
RO
mioara@uaic.ro
66
RO
eugen_bradean@yahoo.com
109
No
Author
Institution
28
BRANDAŞ Claudiu
29
BRĂESCU Mădălina
30
BREZEANU Petre
31
BULIGIU Ion
32
BUNEA Ştefan
33
BURLAUD Alain
34
CACIUC Leonora
35
CALU Daniela Artemisa
36
CARAIANI Chiraţa
37
CARSTOCEA Olivia
38
CIOLPAN Daniela
39
CIRCA Cristina
40
COLCEAG Florian
41
COZGAREA Adrian
West University of
Timisoara
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
University of Craiova
Academy of Economic
Studies, Bucharest
INTEC, Paris
West University of
Timisoara
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
West University of
Timisoara
IRSCA Gifted Education
Academy of Economic
Studies, Bucharest
E-mail
Pages
index
RO
claudiu.brandas@fse.uvt.ro
47
RO
madi_braescu@yahoo.com
32, 84
RO
brezeanupetre@yahoo.com
40
RO
buligiu_ion@yahoo.com
60
RO
stbunea@yahoo.com
92
FR
burlaud@cnam.fr
105
RO
leonora.caciuc@fse.uvt.ro
29, 122
RO
danielacalu@yahoo.com
26, 84
RO
ccara@ew.ro
36, 68
RO
olivia.carstocea@gmail.com
80
RO
ciolpandana@yahoo.com
156
RO
cristina_circa@yahoo.com
64
RO
f_colceag@yahoo.com
68
RO
adicoz@hotmail.com
50
No
Author
Institution
42
COZGAREA Gabriel
43
CRIHAN Olga
44
CRISTEA Silvia Lucia
45
CUREA Cristina Ştefania
46
CURPĂN Alina Mihaela
47
DASCĂLU Cornelia
48
DASHTI Mohammadali
49
DĂUŞ Loredana
50
DAVID SOBOLEVSCHI
Iulia Maria
51
DIACONU Paul
52
DIMITRIU Raluca
53
DRAGOMIR Voicu-Dan
54
DRAGOTĂ CiprianNicuşor
Academy of Economic
Studies, Bucharest
Romanian-American
University
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Tehran University
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Cluj-Napoca
E-mail
Pages
index
RO
cozgarea@hotmail.com
50
RO
olgacrihan@yahoo.com
79
RO
silvia_drept@yahoo.com
100
RO
sneagu@ase.ro
126
RO
curpan_alina@yahoo.com
15,155
RO
dascalu_cornelia@yahoo.com
36, 68
IR
madashti14@gmail.com
RO
loredanadaus@yahoo.com
RO
ulia.david@kgaudit.ro
128
RO
paul.diaconu@timesconsulting.ro
86
RO
raluca_dimitriu@yahoo.com
RO
voicudan@xnet.ro
154
RO
dragotacn@yahoo.com
130
129
107, 111
93, 94
No
Pages
index
Author
Institution
55
DUDIAN Monica
RO
stefanescu.aura@gmail.com
56
DUMITRANA Mihaela
RO
ccara@ew.ro
36, 68
57
DUMITRU Corina Graziella
RO
curpan_alina@yahoo.com
15, 82
58
DUMITRU Valentin
RO
valentin.dumitru@softexpert.info
32, 140
59
EDEN Ali
RO
anbromania@yahoo.com
114
60
ENE Charlotte
RO
lotte_ene@yahoo.com
96
61
ERTAŞ Fatih Coşkun
TR
fertas@gop.edu.tr
120
62
FARCANE Nicoleta
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Gaziosmanpaşa University,
Faculty of Economics and
Administrative Sciences
West University of
Timisoara
RO
nicoleta.farcane@fse.uvt.ro
63
FARJAMI Yaghob
IR
farjami@ut.ac.ir
64
FEKETE P.P. Szilveszter
RO
szfekete@econ.ubbcluj.ro
23
65
FELEAGĂ Niculae
RO
nfeleaga@yahoo.com
13
66
FILIP Andrei
CH
andrei.filip@hec.unige.ch
144
67
FLORESCU Vasile
Tehran University
Cluj-Napoca
Academy of Economic
Studies, Bucharest
Université de Genève
Academy of Economic
Studies, Bucharest
RO
vasile.florescu@gmail.com
71, 136
E-mail
123
29, 63,
122
129
No
68
Institution
FRĂŢILĂ Laurenţiu
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
RO
laurentiu_f@yahoo.com
51
RO
galex@ase.ro
55
FR
germak@cnam.fr
41
RO
mirelaghe@gmail.com
RO
rodicagherghina@yahoo.com
123
RO
glavan_emariana@yahoo.com
26, 32
TR
ugokdeniz@marmara.edu.tr
28, 119
RO
cenusacatalina@yahoo.com
108
RO
gorganvasile@yahoo.com
RO
corina.grosu@fse.uvt.ro
RO
flavius75@yahoo.com
RO
gguse@ase.ro
TR
oktay_guvemli@yahoo.co.uk
TR
pelin_guven@hotmail.com
70
GAVRILA Alexandru
Adrian
GERMAK Philippe
71
GHEORGHE Mirela
72
GHERGHINA Rodica
73
GLĂVAN Mariana Elena
74
GÖKDENIZ Ümit
75
GORGAN Cătălina
76
GORGAN Vasile
77
GROSU Corina
78
GUINEA Flavius-Andrei
79
GUŞE Raluca Gina
80
GÜVEMLI Oktay
INTEC, Paris
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Marmara University
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
West University of
Timisoara
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Marmara University
81
GÜVEN Pelin
Gaziosmanpaşa University
69
Pages
index
Author
E-mail
52, 142
138, 140
17
38, 108
26
7
120
No
Author
Institution
82
HODGSON Allan
83
HOMOCIANU Daniel
84
HOROVÁ Michaela
University of Amsterdam
University of Iasi
University of WestBohemia
85
HRDÝ Milan
86
IENCIU Alin Ionel
87
ILEANA Lenuţa
88
IMBRESCU Carmen
89
IMBRESCU Ion
90
INCEU Adrian
91
IOAN Ioana
92
IOANĂŞ Corina
93
IONAŞCU Ion
94
IONAŞCU Mihaela
95
IONESCU Bogdan
University of WestBohemia
Cluj-Napoca
Academy of Economic
Studies, Bucharest
West University of
Timisoara
West University of
Timisoara
Cluj-Napoca
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
E-mail
Pages
index
NL
A.C.Hodgson@uva.nl
27, 143
RO
daniel.homocianu@feaa.uaic.ro
77
CZ
hrdy@keu.zcu.cz
16
CZ
hrdy@keu.zcu.cz
16
RO
aienciu@econ.ubbcluj.ro
67
RO
dana.ileana@gmail.com
148
RO
cimbrescu@yahoo.com
73
RO
ionimbrescu@yahoo.com
73
RO
inceuadrian@yahoo.com
121
RO
ioana_ioan@yahoo.com
72
RO
corina_ioanas@yahoo.com
19
RO
ionascui@cig.ase.ro
90
RO
mihaela.ionascu@cig.ase.ro
30
RO
ionescub@gmail.com
42, 76
No
Author
Institution
96
IONESCU Iuliana
97
IVANCENCO Veronica
98
JIANU Iulia
99
JINGA Gabriel
100
LAPTEŞ Ramona
101
LIXĂNDROIU Dorin
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Transilvania University
102
LORD Alan
103
LUKÁCS János
104
LUNGU Camelia Iuliana
105
LUPULESCU Ana-Maria
106
MANEA Cristina Lidia
107
MANEA Diana
108
MANGIUC Dragoş
109
MANOLESCU Maria
University Bowling Green
Corvinus University of
Budapest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
E-mail
Pages
index
RO
ionescu.iuliana@gmail.com
42, 76
RO
vivancenco@yahoo.de
44
RO
iulia_jianu@yahoo.fr
19
RO
jinggab@yahoo.com
32
RO
ramona_precup@hotmail.com
32
RO
lixi.d@unitbv.ro
48, 75
US
alord@bgnet.bgsu.edu
49, 147
HU
janos.lukacs@uni-corvinus.hu
RO
lkmy03@yahoo.com
RO
anamarialupulescu@yahoo.com
RO
lidia.manea@cig.ase.ro
82, 85
RO
vladyana@yahoo.com
157
RO
mangiuc@gmail.com
44, 150
RO
maria.manolescu@soter.ro
23
26, 68
95
117
No
Author
Institution
110
MAREŞ Marius Daniel
111
MAREŞ Valerica
112
MARIA Ştefan
113
MATAC Liviu
114
MATIŞ Dumitru
115
MEGAN Ovidiu
116
MEHEDINŢU Anca
117
MIHAI Florin
118
MILITARU Ioana Nelly
119
MITCHELL Falconer
120
MULLER Victor
121
MUNTEAN Mihaela
122
MUNTEAN I. Mihaela
123
MUŢIU Alexandra
University "Spiru Haret",
Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Cluj-Napoca
West University of
Timisoara
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
University of Edinburgh
Cluj-Napoca
Academy of Economic
Studies, Bucharest
West University of
Timişoara
Cluj-Napoca
E-mail
Pages
index
RO
maresdaniel@yahoo.com
43, 45
RO
maresvalerica@yahoo.com
43, 45
RO
stefan.maria@ina.gov.ro
53
RO
liviu.matac@mec.edu.ro
107, 111
RO
dmatis@econ.ubbcluj.ro
23, 81,
181
RO
ovidiu.megan@fse.uvt.ro
29, 122
RO
ancamehedintu@yahoo.com
RO
fmihai@gmail.com
RO
mili_andrei@yahoo.com
103
UK
facolner.mitchell@ed.ac.uk
14
RO
vmueller@yahoo.com
25
RO
munteanm@inforec.ase.ro
139
RO
mihaela.muntean@fse.uvt.ro
RO
alexandra13mutiu@yahoo.com
46
76, 138
56, 133
121
Pages
index
No
Author
Institution
124
NĂCHESCU Miruna-Lucia
RO
mnachescu@oxygencomputers.ro
125
NĂSTASE Pavel
RO
nastasep@ase.ro
49, 134
126
NĂSTASE Floarea
RO
nastasef@ase.ro
134
127
NICHITA Mirela
RO
mnichita@ase.ro
82, 158
128
NICOLLE Jean Michel
West University of
Timisoara
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
INTEC, Paris
FR
jm.nicolle@cnam.fr
129
NIKITIN Marc
FR
marc.nikitin@univ-orleans.fr
13, 153
130
NIŞULESCU Ileana
RO
nisulescu_ileana@yahoo.com
123
131
NOVAK Petr
CZ
pnovak@fame.utb.cz
58
132
NUŢĂ Florian Marcel
RO
florian100780@yahoo.com
65
133
OANCEA Mirela
RO
mirela.oancea@soft-expert.info
140
134
ÖLÇER Ferit
University of Orleans
Academy of Economic
Studies, Bucharest
Tomas Bata University in
Zlin
University of Iasi
Academy of Economic
Studies, Bucharest
Mustafa Kemal University
TR
folcer@hotmail.com
24
135
ÖZBIRECIKLI Mehmet
PALFI Cristina
Alexandrina
Mustafa Kemal University
TR
ozbirecikli@mku.edu.tr
24
Cluj-Napoca
Academy of Economic
Studies, Bucharest
RO
cristinapalfi@yahoo.com
118
RO
carmen.pangaleanu@transgaz.ro
149
136
137
PANGĂLEANU Carmen
E-mail
33
87
No
Author
Institution
138
PARASCHIV Dorel Mihai
139
PEKDEMIR Recep
140
PETCU Monica Aureliana
141
PETRE Cristian
142
PIROŞCA Grigore Ioan
143
PIRVU Cerasela
144
PITULICE Cosmina
145
POPA Adriana Florina
146
POPESCU Mioara
147
POPESKO Boris
148
PREDA Ana Maria
149
PROTOPOPESCU Irina
150
PUGNA Irina Bogdana
151
RĂDNEANŢU Nicoleta
Academy of Economic
Studies, Bucharest
Istanbul University
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Tomas Bata University in
Zlin
Romanian-American
University
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
American-ROn University
E-mail
Pages
index
RO
paraschiv@inde.ro
TR
pekdemir@istanbul.edu.tr
RO
iulia.david@kgaudit.ro
128
RO
cristi_craiova@yahoo.com
141
RO
grigore.pirosca@ecg.ase.ro
126
RO
ccpirvu2006@yahoo.com
46, 60
RO
micospit2004@yahoo.com
84
RO
adriana.fp@gmail.com,
19
RO
mioara.popescu@roib.ro
152
CZ
popesko@fame.utb.cz
58
RO
amp@rau.ro
79
RO
adriana.fp@gmail.com
19
RO
irina_bogdan@yahoo.com
39, 78
RO
stancanicoleta@yahoo.com
70
39
22, 113
No
Author
Institution
152
RADU Gabriel
153
RAFFOURNIER Bernard
154
RĂILEANU Vasile
155
RAMLI Aliza
156
RAPCENCU Cristian
157
RISTEA Mihai
158
ROBU Vasile
159
ROGER Acton
160
ROMAN Aureliana Geta
161
SĂCĂRIN Marian
162
SAHLIAN Daniela Nicoleta
163
SANDU Raluca
164
SCORŢA Iuliana
165
ŞENDROIU Cleopatra
Academy of Economic
Studies, Bucharest
Université de Genève
Academy of Economic
Studies, Bucharest
Universiti Teknologi MARA
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Association of Chartered
Certified Accountants
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
E-mail
Pages
index
RO
gabiradu@ase.ro
CH
raffournier@bluewin.ch
35, 144
RO
raileanu_vs@yahoo.com
85
MY
aliza629@salam.uitm.edu.my
14
RO
cristi20030@yahoo.com
85
RO
mihai.ristea@ase.ro
15, 27,
82
RO
robuv2002@ase.ro
37, 126
IE
roger.acton@ie.accaglobal.com
RO
ivanaureliana@yahoo.com
117
RO
sacarinm@hotmail.com
91
RO
danyella_marcu@yahoo.com
82
RO
rsandu@ase.ro
72
RO
iuliana.scorta@ie.ase.ro
151
RO
cleo2005dr@yahoo.com
107, 111
19
6
No
Author
166
SERAFIMOSKA Marina
167
ŞERBAN Elena Claudia
168
ŞERBAN-OPRESCU
Teodora
169
SGARDEA Florinel Marian
171
SIMION (ISTRATE)
Adriana Elena
SIMON Christian
172
SORESCU Laurenţiu
173
STANCIU Andrei
174
STANCIU Cristina Maria
175
STANCIU Victoria
176
ŞTEFĂNESCU Aurelia
170
177
178
STOICA Camelia
Florentina
STREET Donna
Institution
University "Ss. Cyril and
Methodius", Faculty of
Economics - Skopje
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
PARIS 12
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
University of Dayton
E-mail
Pages
index
MK
marinas@eccf.ukim.edu.mk
116
RO
claudiaserbanos@yahoo.com
127
RO
teoprescu@yahoo.com
126
RO
sgardeafm@gmail.com
107, 111
RO
saelena@rdslink.ro
131
FR
csimon@univ-paris12.fr
88
RO
soresculaurentiu@gmail.com
97, 101
RO
andrei75@gmail.com
76, 138
RO
crina_s2002@yahoo.com
38, 108
RO
stanciuvictoria58@hotmail.com
44, 114
RO
stefanescu.aura@gmail.com
123
RO
john_jeremiah@hotmail.com
98
US
donna.street@notes.udayton.edu
21
No
Author
Institution
179
STROUHAL Jiri
180
SULAIMAN Suzana
181
SURCEL Traian
182
ŞTEFĂNESCU Brânduşa
183
ŞTEFEA Petru
184
ŞTELIAC Nela
185
TABĂRĂ Neculai
186
TAMAŞ Ilie
187
TIRON TUDOR Adriana
188
TRIANDAFIL Cristina
Maria
189
TUDOR Cătălin
190
TUREL Asli
191
ŢURLEA Eugeniu
192
ŢUŢUI Daniela
Czech University of Life
Sciences
Universiti Teknologi MARA
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
West University of
Timisoara
Cluj-Napoca
University of Iasi
Academy of Economic
Studies, Bucharest
Cluj-Napoca
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Istanbul University
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
E-mail
Pages
index
CZ
strouhal@vse.cz
57, 106
MK
s-suzana@mailcity.com
14
RO
tsurcel@ase.ro
141
RO
brandusastefanescu@yahoo.com
99
RO
petru.stefea@fse.uvt.ro
RO
steliacn@yahoo.com
61
RO
neculai_tabara@yahoo.com
65
RO
tamas@mailcig.ase.ro
41, 135
RO
ttadriana@yahoo.com
21, 25,
69, 121
RO
cristina_triandafil@yahoo.com
40
RO
catalin.tudor@ase.ro
76
TR
gunduzay@istanbul.edu.tr
22
RO
eturlea@yahoo.com
123
RO
tutuidaniela@yahoo.com
127
64, 125
No
Author
Institution
193
ŢARŢAVULEA Cristina
Venera
194
ŢUGUI Alexandru
195
VÂLCEANU Gheorghe
196
VARTOLOMEI Brinduşa
Oana
197
VASILESCU Camelia
198
VINTILĂ Georgeta
199
VOICA Ileana
200
VOLKAN Ildiko Reka
201
WARD Stephen
Academy of Economic
Studies, Bucharest
University of Iasi
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Academy of Economic
Studies, Bucharest
Cluj-Napoca
University of Southampton
E-mail
Pages
index
RO
cristina.tartavulea@gmail.com
53, 138
RO
altug@uaic.ro
RO
137
35
RO
anamarialupulescu@yahoo.com
95
RO
camyvasil@hotmail.com
145
RO
eugen_bradean@yahoo.com
109
RO
ileana_voica@yahoo.com
102
RO
staff@staff.ubbcluj.ro
59
UK
na1@soton.ac.uk
115

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