ABSTRACT: Concern for the morality of economic life is relatively recent and involves the need to implement ethical codes that prevent violation of rules of conduct. The Socio-economical sphere is marked by profound transformations that shape a particular kind of rationality. The ethical rules can also be found under this kind of rationality. Apparently these rules hinder the economical processes, but in reality respecting the economical rule, leads to the increase of trust between economical actors. Hence, these actors are required to be aware of the ethical rules according to which their activity needs to be guided. These rules constitute mere moral determinations in public life.

ABSTRACT: Public debt portfolio is the most important financial portfolio of a country, reflecting the complex and risky financial structures that can generate substantial risks on the patrimony of state and on its financial stability. Recent crises have highlighted the need to limit exposure to liquidity risk and other risks which make economies of states to become vulnerable to some external shocks. A viable and prudent management of public debt structures and strategies aimed at avoiding dangerous loan becomes crucial because the consequences it causes serious macroeconomic failure to pay debts, heavy losses of production and high costs associated with them.

ABSTRACT: Starting May 2009, revaluation reverts unknown for taxation, in terms of tax the profit. This new tax rule shapes again the accounting behaviour. Thus, it is likely that most firms with revalued assets to choose for transfer from revaluation reserve from account 105 “Revaluation Reserves “into account 1065 “Reserves representing surplus achieved in the revaluation reserve“ as damping assessed property depreciation, and not to remove it from book-keeping.

ABSTRACT: Communication is a complex process of transmitting messages, according to which the emitter encodes the information transmitted through a specific channel to a receiver who ultimately is going to decode it. At an ordinary level, communication as a message exchange between individuals is understood as a verbal or written transmission of information. The success of any communication is dependent on several factors that exert their influence both upon the emitter and the receiver. Business communication obeys the general rules of communication being influenced by certain factors.

ABSTRACT: The viability of investment projects is based on IRR and NPV criteria. In the economic analysis of the projects there are some aspects of project feasibility which may require sensitivity and risk analysis. Sensitivity analysis estimates the effect on achieving project objectives if certain assumptions materialize or not. This paper presents the purpose of sensitivity analysis and the steps that must be followed in order to perform a sensitivity analysis as well as a numeric example.

ABSTRACT: The current crisis has reopened the discussions about the state’s intervention in the economy and about the possibility of replacing the capitalist system, because the role played by the state is no longer consistent with the characteristics of this system. The state’s intervention in the economy could be directed towards other aspects, regardless of the accepted economic system. A state that truly favours innovation represents the desired result.

ABSTRACT: Information society development is possible using advanced computer infrastructure but also software such systems, particularly the Internet. The content of the work we have addressed some key elements for implementation of risk management in electronic data transmission operations of legal persons and / or individuals using the Internet, from the few elements that disrupt the activities of information such as computer viruses or attacks. An important part presents the necessity and effects of operations on the Internet standardization, the use of digital certificates and electronic signatures by default.

ABSTRACT: The auto sector is often credited as the engine room of Europe. The European Union is the homeland to a competitive and innovative automotive industry that generates activity throughout the economy - from materials and parts supply, to R&D and manufacturing, to sales and after-sales services. In the second half of 2009, against the backdrop of fierce competitiveness and progress on sustainability, the economic downturn hit the industry. The banking crisis stalled economies; consumers and businesses struggled to access credit. Private individuals held off purchasing new cars and businesses began to fight for survival. Commercial vehicles continued their sharp downturn in the first quarter of 2009. The drop in passenger car registrations recovered somewhat to a still formidable minus 15%, supported by the introduction of fleet renewal incentives in a number of EU member state.

ABSTRACT: In the present study we have started from the premise that from the analysis of the "money laundering", the money resulted from this is circulating in the whole world, through some geographical and institutional channels. Starting from the characteristics of "tax haven", we have made a parallel between it and the financial paradise. In the second part of the work we have explored offshore areas, adding the methods for placement of revenue in those countries and the necessary conclusions.

ABSTRACT: The development of privately managed funded pension provision reflects some trends in societies, like for instance richer societies which might favour more responsibility and choice for individuals, or the expectation that diversifying risks through funded pension might achieve higher returns than GDP growth, while it also means inevitably higher risks. With the development of privately managed funded pensions, the question of the sharing and regulation of risks becomes relevant due to the fact that such schemes may also be expected to provide pension adequacy for lower income groups.

ABSTRACT: Preference of the small savers varies across the markets. Yet, generally they opt for easily accessible and security of funds. Informal financial services appear to be much ahead the formal ones both in terms of accessibility and security in catering to the needs of the rural small savers. What constrains them in going for formal small saving? Some issues are examined in this article.

ABSTRACT: The developing countries of Africa are in severe hunger of FDI inflows as these are receiving a meager 2.8 percent share of global FDI inflows and just 10 percent of aggregate FDI inflows to the developing world. The present study is an effort to examine the growth of FDI inflows to the two largest recipient regions of Africa, through the computation of compound annual growth rates by fitting an exponential function estimated by ordinary least square method. The study detected that during the last three decades, the growth of FDI inflows remained highest for Algeria and Cape Verde, in Northern Africa and West Africa respectively. Both these countries also remained ahead of the others, in their respective regions in growth of FDI as percentage of gross fixed capital formation. The forecasts of FDI inflows to the representative countries of North and West Africa have been generated by using Double Exponential Smoothing model for the period 2009 to 2020. The adequacy of the model is tested by computing autocorrelation coefficients and Ljung-Box Q statistics. The study revealed that in the ensuing decade, Egypt is expected to grow at the fastest pace as far as FDI inflows are concerned.

ABSTRACT: Romanian system of education is confronted today, and even more in the future, with real challenges that regard quality, performance and competitiveness. In this way, through this paper, an analysis was made regarding the improvement of the financing strategies for the higher education, starting from a series of methodological aspects proposed by CNFIS for years 2009 and 2009. Thereby, premises were shaped for the elaboration of a future methodological version that can be applied in 2010.

ABSTRACT: The topic approached by this paper targets in its first part a short history of health social insurances in Romania after 1990 as well as the implementation of this system according to the new demands. Further a series of aspects specific for the organization and functioning of the Health Insurances Center of the district of Hunedoara are analyzed; among them we should mention the following ones: the main responsibilities of this institution, the specific objectives, and the elements of the system of health insurances system. At the same time, an analysis of the evolution of the incomes and expenditures of the institution during the period 2001-2009 is done as well as a structure of the expenditures for medical services financed by FNUASS in 2009.

ABSTRACT: Value added displays various opportunities for measuring and evaluating performance; it is the key element in determining certain indices that create value having a major significance within a company’s activity, either quoted or not on capital market. In case of quoted companies, value creation is the main criterion of performance evaluation by shareholders whose strategic objective is maximizing present and future profits. In order to carry out such an objective, the value created for shareholders can be measured through a system of indices that allow the determination of the value created during a financial exception or as compared with a certain reference period. The economic index Value Added (EVA) is relevant in quantifying a company’s capacity of creating value for capital suppliers.

ABSTRACT: The inconsistency and even the lack of a strategy in tourism, the lack of promotion for Romania abroad, and the expensive and poor services are some of the problems which managers present within the “Private Government” meeting on tourism have identified as needing immediate rehabilitation for the re-launching of the market in Romania. Motto: “Give me the peace to accept the things I cannot change, the courage to change the ones I can, and the wisdom to be able to distinguish among them.” - Marcus Aurelius.

ABSTRACT: Financial statements aim is to assure an efficient dialogue between the company and the external operators interested in having a good perspective of the entity. Information about the cash flows, as component of financial statements, is useful in providing users of financial statements with a basis to assess the ability of the entity to generate cash and cash equivalents and the needs of the entity to utilize those cash flows. The objective of our paper is to present the main informational valences of cash-flow statement for investors and also to show the potential “make-up actions” made to give wrong information about a company for the decision makers. For this purpose we will use a research methodology based on a research study by questionnaire on a sample of small and medium enterprises.

ABSTRACT: The paper aims to present the main financial ratios which provide a picture about company’s profitability, its financial position, use of its assets efficiency, its long-term debt financing. Discussion is focused on: profitability ratios, short-term financial ratios, activity ratios, long-term debt ratios or dividend policy ratios. Also, will try to answer at the following main questions: What financial ratios analysis tells us? What the users of these needs to know?

ABSTRACT: Satisfying the most needs of the consumer is done/achieved with economic assets. Each good has substitutes: using other goods where the original cost of using asset increases. The needs are desires. If needs are analyzed carefully, it is found to have various emergencies. People buy more or less a good since the price they have to pay reduced or increased. The concept of needs projects the concept of demand in the application that links quantities that are purchased by the sacrifices made to achieve these quantities [7]. While human needs seem to be limitless, a desire can be satisfied only at a certain price, which means that people moderate their demands. This phenomenon is not surface and superficial. Rather it is deep and usually is given the status of law: law of demand.

ABSTRACT: The interest that triggered this paper came from the will to identify the most stringent needs for professional development that human resources (didactic staff) working in educational services in universities have to face, following the legal, institutional, and functional changes that took place in the recent years in the Romanian system of higher education.

ABSTRACT: This paper assesses the factors that influenced the Zimbabwe Stock Exchange’s performance from 2002 to 2007. The study seeks to identify and define the major drivers of the bourse during this period and use them to guide an investor on the ZSE or any other stock exchange in a developing economy. Despite the shrinking of the economy since 2000, the stock market inversely reacted to the factors that affected the economy negatively. The ZSE was driven mainly by speculation as investors sought to hedge against hyperinflation. The decline of the Zimbabwe economy during that period caused capital flight to the stock market pushing prices up hence huge profits. The real factors that affect share investment and the stock market in general were addressed, giving insight to the stock investors. The study recommends that stock investors should keep track of the general and unique factors that have an impact on their investments.

ABSTRACT: A number of financial institutions have collapsed or experienced financial problems due to inefficient credit risk management systems. The study seeks to evaluate the extent to which failure to effectively manage credit risk led to Zimbabwe’s banks’ demise in 2003/2004 bank crisis. It also seeks to establish other factors that led to the banking crisis and to outline the components of an effective credit risk management system. The study found that the failure to effectively manage credit risk contributed to a greater extent to the banking crisis. The research also identified poor corporate governance, inadequate risk management systems, ill planned expansion drives, chronic liquidity challenges, foreign currency shortages and diversion from core business to speculative non-banking activities as other factors that caused the crisis. There is also need for banks to develop and implement credit scoring and assessment methodologies, review and update the insider lending policies and adopt prudential corporate governance practices.

ABSTRACT: Romania's EU accession made significant changes in the tax area imposed by the harmonization of national laws system of member countries. Thus it disappeared the concepts of export and import in the relationship between Member States, which are replaced by new notions, such as: intra-community acquisition (instead of import) and intra-community supply (instead of export). Given the changes occurring in the tax laws and their complexity, in this paper/work I proposed to approach the specific tax treatment inside-community with reference to triangular transactions.

ABSTRACT: The actual world economic crisis has proven once more that the banks are the primary force for an economic growth or for a recession. This major economic crisis has begun, in the first instance, at the banks level, there for in the banking system has developed a great void of banking liquidities. Many payments are done through banks and the lack of funds has slow down the payments, the loans, which led to a reduction of activity in the real economy for the companies, or even led to bankruptcy for one of them. The Romanian banks have their own liquidity strategies. Of course that the objective of all banks is maintaining and achieving a ratio and an optimum structure of assets and liabilities, so it may obtain a maximum value of incomes and a minimum value of negative effects of payments during rough situations.

ABSTRACT: The sociological research whose results are given in this paper was conducted in the month of July 2009 in the rural community of Sarmizegetusa, located in Hunedoara County on the border with Caras-Severin County. There has been investigated a total of 174 households and the main issues addressed are the following ones: house and living conditions, family structure, household income, the comfort of the house.

ABSTACT: Because of the formidable obstacles to realizing the ideal distributed database, DBMS vendors have taken a step-by-step approach to databases and networking. They have focused on specific forms of network database access, data distribution, and distributed data management that are appropriate for particular application scenarios. This paper studies the remote access method as a component of the distributed databases management.

ABSTRACT: The appearance in Romania of new forms of accommodation, with a unique specificity, has determined us to explore the boutique hotels in terms of the concept, the specificity, their typology, employment and the possibility for development in the still early market in our existing country. As recent studies in the field illustrate, the hotel market will meet a strong emerging development on share of small hotels, boutique-type. Increasingly popular in recent years, boutique hotels have emerged as an alternative to "mammoths" with hundreds of rooms and impersonal atmosphere.

ABSTRACT: Even though in Romania there are a few social categories with incomes comparable to those of the Occidentals: enterprisers, notaries, the wage earners working in banks and communications, peasants that sold their lands for millions of Euros, but also enough budgetary people and, as well, all kinds of dodgers, corrupt civil servants or combinatory people. All of them have monthly incomes of at least 2.000 Euros, their wage being the only thing they have in common. However their number is not negligeable.

ABSTRACT: The emergence of knowledge-based companies increased the importance of intangible assets, assets that were considered the most competitive advantages of companies. So, in this paper I tried to answer the following question: Which is the Romanian accounting reality about the intangible assets recognition, evaluation and reporting? What can we do that traditional financial statements do not become mostly useless for their end users?

ABSTRACT: The capital market is to supply and demand of medium and long term capital, with the same role as the financial market in general with the feature length greater maturity. Institution typical secondary capital market is the stock market. The secondary market securities can, in principle an auction market or a market negotiation. In Romania there are two regulated markets of securities i.e. BSE and RASDAQ as separate entities. The coverage of financial instruments, according to EU directives in force, is wide, including both tradable capital market instruments and money market instruments. Futures contract is an understanding between two parts to sell or purchase a particular asset at a predetermined price, the performance of the contract at a future date. Options are contracts between a buyer and a seller and giving the latter the right but not the obligation, to sell or buy any particular asset at a future date, as obtained on payment of a premium to the seller. The options may be for sale when the buyer acquires the right to sell the asset, or may be purchasing, when given the right to purchase the asset. In our country options contracts were introduced for the first time SIBEX, which is currently the only market in Romania where he traded options. This gives the buyer the right but not the obligation to buy or sell a futures contract at a predetermined price, the duration of the contract.

ABSTRACT: Free movement of people is a basic pillar of the single area the European Union (EU) has been building since its creation. It is acknowledged as a fundamental right for EU citizens. A right of free movement across the EU was originally envisaged only for the working population, as a single market could not be achieved while limitations to workforce mobility remained in existence. The Schengen Convention was the first agreement to abolish controls on people at the internal borders of the signatories, to harmonise controls at the external frontiers of the 'Schengen area' and to introduce a common policy on visas and other accompanying measures like police and judicial cooperation. The Schengen signatories agreed that each country could only reintroduce controls on their mutual borders in certain well-specified circumstances. The right of every European citizen to move and reside freely within the territory of the Member States is enshrined in the Charter of Fundamental Rights of the EU, adopted in December 2000. The charter also states that these rights 'may' be granted to third-country nationals.

ABSTRACT: In a recently published (Business Week, November 2, 2009) article, the distinguished columnist, Michael Mandel, pointed out some interesting issues concerning the US trade gap and the consequences it has on the entire global economy and economic system. In this kind of respect, he finds three possible ways for America to reduce this trade deficit and to relaunch its own economy on (new!)a good track. The three scenarios he finds out as being really possible for US to narrow its trade gap, actually, are: a) the so-called “business as usual” scenario that assumes the actual US trade gap will remain pretty much unchanged or rise slightly; b) the so-called “global restructuring” scenario that assumes the US government will not assure enough stimulus package or the US dollar will drop further or both; c)the so-called “innovative growth scenario that assumes the US will manage to export more innovative and knowledge-based goods and services and the US trade gap will go down smoothly without affecting the global growth. Far from trying to make any kind of polemic with the article’s author we still have to add that – and this is a point of view being a little bit different from the author’s – the US trade deficit is the cause as well as the main symptom of the global economic imbalances.

ABSTRACT: Do we ever wonder how fast our computer actually is? Of course, it says that it is a Pentium at 3.0 Ghz on the box in which the system came but the speed of the CPU is not the only factor in determining how fast our system actually is. The true speed of our computer is determined by the speed of all of our hardware, such as the speed of data written and read from the hard drive, the speed of the RAM, and the speed of the front side bus of the motherboard.

ABSTRACT: The end of the 1980’s marked the beginning of new management era. Organizations such as CAM-I (Computer Aided Manufacturing-International, later renamed to Consortium for Advanced Management-International) and the National Association of Accountants had introduced Activity-based costing - a cost accounting technique which charges organization’s indirect costs to the activities that cause the costs to be incurred and then distributes costs of activities to the products that cause the activities to be performed. Activity-based costing as a management tool has proved its relevance and found its proponents among academics and managers. Introduction of the time aspect into Activity-based costing proved that it is still attracting attention and undergoing development in order to become more accurate. The paramount goal of the implementation is to prove the increased effectiveness and superiority of cost management when using Activity-based costing. It will be achieved by allocation of overhead costs to products with the intention to determine unit costs. This process of allocation will increase the reliability of cost information and improve the information base for product decisions. Moreover, we expect that this approach will more or less alter the profit margin of individual products. This kind of information is very useful when evaluating price-related or keep/drop decisions.

ABSTRACT: The purpose of this study is to survey the accounting of the on-line banking cards operations, based on Romanian experience. Our paper belongs to the technical studies that analyse the concrete way to reflect the cards operations at the level of the banking societies from Romania. The paper contains a study cases part, which presents the concrete methods of accounting reflection based on banking cards operations. We try to underline the importance of a flexible banking accounting system, which should provide the users with the information needed.

ABSTRACT: Just before the last G20 meeting in London and following the quantitative easing measures taken by FED it has broken into the news that, during an internal discussion, IMF raised a really provocative issue: should the non-Euro EU members join the Euro very rapidly?! Considering the developing international economic situation we plead that adopting the Euro at a fast pace will be benefic for both sides of Europe: the Western developed countries and the Eastern emerging economies.

ABSTRACT: The paper presents a model of economic adjustment Romania’s GDP using econometric model which has the budgetary input and output as Romania's GDP. Adjustment shall be based on a square linear regulator by type discrete.

ABSTRACT: Globalisation, the unavoidable process which the world entered, is affecting everyone of us in different ways. Globalization means growing permeability of all the boundaries such as time and space, national and state borders, borders of economy, branches and organizations and less tangible boundaries such as cultural standards and their assumptions. The advent of Internet has also a large effect on the acceleration of globalisation and the commerce in special. Electronic commerce (e-commerce) refers to forms of transactions which are based on electronic data processing, among other things text, sound and picture, with the participation of organizations and individuals, on the Internet. Goods sold through the internet are: travel, clothes, groceries, consumer electronics and the pay of the invoices This paper present some aspects of the e-commerce process in Europe and Romania in 2006-2011 periods.

ABSTRACT: In order to face the new market environment which is in constant change, the company must place the customer in the centre of its attention. As a result, the company will not follow, first of all, the benefit brought by a certain successful business, but to develop long-term business relationships with the same customers. The integration of Web technologies has an important place into the process of accomplishing companies’ objectives to increase the competitiveness degree on the market by generating customers’ loyalty. Developing a web-site makes it possible a very good communication with the clients, and this leads, finally, to a constant adaptation of the company’s offer to the continuously changing customers’ requests.

ABSTRACT: What is computer-assisted accounting? Where is the place and what is the role of the computer in the financial-accounting activity? What is the position and importance of the computer in the accountant’s activity? All these are questions that require scientific research in order to find the answers. The paper approaches the issue of the support granted to the accountant to organize and manage the accounting activity by the computer. Starting from the notions of accounting and computer, the concept of computer-assisted accounting is introduced, it has a general character and it refers to the accounting performed with the help of the computer or using the computer to automate the procedures performed by the person who is doing the accounting activity; this is a concept used to define the computer applications of the accounting activity. The arguments regarding the use of the computer to assist accounting targets the accounting informatization, the automating of the financial-accounting activities and the endowment with modern technology of the contemporary accounting.

ABSTRACT: The advancement of information and communication technologies, offers the training sector the promise that the latest generation of network applications will induce qualitative changes in education and training. In the present European context, Romania plans the strategically goals assumed in the process of integration to became reality an established strategic goals for the transition to a competitive and dynamic economy, to a high quality educational system, based on need to assuring the independence and autonomy context and ensure that higher education and research systems.

ABSTRACT: Life insurance is an insurance concluded for a long period of time and reinsurance shall have to be a long-term reinsurance, otherwise the direct insurer may lose its hedge through reinsurance before the insurance agreement expires or pay an inadequate sum for the reinsurance with the insurance premiums it receives. In the case of life insurances, reinsurance agreements include provisions answering to the direct insurer’s need to benefit from long-term protection. In life insurances, almost all reinsurance agreements are proportional agreements, the greatest weight being held by surplus agreements.

ABSTRACT: Globalisation is a fairly broad term that describes the phenomena of the 'local' turning into the 'global', or the coming together of different aspects of the world into a single and identifiable state. While the term globalisation may have at first been strictly applied to the international financial marketplace and its deregulation, what it means for many today has as much to do with cultural and political realities as economic ones. Globalisation involves economies, cultures and political movements in all of the different parts of the world. There is nothing new about different countries and cultures becoming integrated and working together, what is new though is the speed that it is now taking place. The Internet has also had a large effect on the acceleration of globalisation and can potentially act as a common cultural denominator. Broadcasting and the Internet are still economically and culturally dependent on other issues however and are not ubiquotous everywhere. From this point of view the e-Europe idea are the European vision of an information society these are the ways of implementing the same goal - with the use of computer networks and other multimedia.

ABSTRACT: Environmental indicators are new instruments in the European Union to assess the impact of agriculture on the environment in rural areas. Using these indicators in the EU member states, changes in rural areas can be analysed and compared. Thus, strong and weak points in rural areas in terms of environmental protection can be investigated. The aim of the paper is to discus environmental indicators, recommended by the European Commission in 2006, for chosen new and old EU member countries. This indicator analysis can help to state about potentials in rural areas to protect natural resources. Thereby, fields and countries can be specified requiring higher potential of environmental protection.