The lack of sustainable development strategies of the tourist resorts from Romania caused the structural dynamics of their economy to record large fluctuations under the impact of determinants with ...unpredictable developments. The spectacular dynamics have led to developments difficult to predict, in many situations that generate environmental conflicts, where the economic pressure has exceeded the support capacity of the natural environment. In this study, we aim to analyze the dynamic relationship between tourism and the other components of the economy, from each resort from Romania. The significant growth of tourism in recent years requires new approaches, relevant for understanding the role of tourism in increasing the complexity of the local economy. Measuring the role of tourism in the development of local economy was achieved by building an economic database for all tourist resorts from Romania (according to Government Decision No. 107 of 2018), at the four-digit NACE code level (Classification of National Economy Activities), for the economic indicators considered relevant: number of companies, number of employees, and turnover and profit, for the period 2000–2016, as well as at territorial administrative unit level. Detailed analyses revealed very different structural dynamics, the spectacular dynamics, lacking a coherent strategic framework, led in all situations to the emergence of environmental conflicts. Tourist resorts in which tourism has become an essential component of economic development have based their development on capitalization of local resources, which led to multiplication effects, materialized in a spectacular evolution of the local economy, and an increasing pressure on the natural environment.
The immaterial world has always aroused people's interest because being intangible, it is often considered enigmatic and in addition has major effects, sometimes vital for those with whom it ...interacts. Firms own both tangible and intangible assets that contribute to business continuity and increased performance. The article deals with issues related to the differences that the application of different accounting regulations in Romania have on the valuation and recognition of intangible assets and the accounting implications they have in certain special cases, such as the global valuation of companies for different purposes, for example in the case of merger or division, consolidation of the accounts of groups of companies. As we have shown in the article, the application of different accounting regulations leads to differences in the recognition and measurement of intangible assets (as is the case in our country) regarding, for example, the capitalization of formation expenses or their recording as current expenses, their presentation at net book value or the possibility to choose the revaluation treatment (fair value presentation being optionally permitted by IFRS), depreciable amount represented by input value or input value minus residual value (case of application of IFRS), etc.. In mergers or divisions of companies, if the global valuation method is chosen, the estimation of the value of enterprises involved in such processes by authorised valuers may also have an impact on the value of intangible assets in the accounts of the absorbing/receiving company (either on identifiable assets meeting the conditions for recognition taken over at fair value or on goodwill).
This paper is focused on identifying the economic-financial indicators necessary for the correct and complete diagnosis of the financial position of an entity. Specifically, it highlights the need to ...use financial balance indicators in knowing how the entity's management succeeds or fails to achieve its major objective, namely maximizing the entity's value. The consistent achievement of the major objective of an entity can only take place under the conditions of a profitable activity and maintenance of financial balance. So, starting from this aspect, the importance of analyzing the financial balance can be seen, as well as the correlation with the entity's performance. The analysis of the financial balance is obtained by means of indicators determined with the help of information from the balance sheet, namely the net position, the working capital, the need for working capital and the net treasury. Achieving financial balance can be achieved by adjusting the imbalances that manifest in the entity's current activity, more precisely between its financial sources and its resource needs. In order to ensure a state of perfect equilibrium, all the due dates of the payments or receipts should be perfectly correlated, which is very difficult to achieve in the practical activity of the entity because most of the time, the receipts precede the payments and thus are released a profitable activity.
Making investments-making at entity level has a significant role in achieving the objective of maximizing its value for the benefit of both its shareholders as well as its managers and creditors. ...Starting from the importance of the investment decision, a significant problem is the optimal selection of the investment, i.e. the selection of the best projects from the existing versions, taking into account the funding sources involved and, at the same time, the recovery of the expenses. In this respect, it is necessary to apply the selection criteria correctly in substantiating the investment decision, funding sources.
Financial decisions, regardless of their form, are made by the management of the entity on the basis of a prior financial diagnosis. When the purpose is to understand the implications and, at the ...same time, the compromises on which the financial decision related to operation, funding or investments is based, it is recommended to resort to different financial diagnosis methods and techniques. At the same time, an entity may also face financial problems that it can solve by using the correct financial diagnosis tools that generate the necessary answers.
The study aims to uncover the impact of COVID-19 and capital structure on the financial performance of 1787 renewable and nonrenewable energy firms in China from 2010 to 2022. Using the fixed effect ...approach, our study found that financial leverage negatively affected the return on assets and equity ratios for both renewable and nonrenewable energy. On the other hand, the study shows that COVID-19 adversely affected the financial performances of non-renewable energy firms. Conversely, COVID-19 positively affected the financial performances of renewable energy firms. The conclusions drawn by the present study are helpful for the policymakers in making corresponding financial decisions. The study suggests that policymakers must adopt profitable capital structure strategies for firms and shareholders in this context. Finally, policymakers must design more policies to overcome the adverse influence of the COVID-19 pandemic crisis and avoid any future unforeseeable pandemics.
Groups of companies represent a poignant reality of the economy of the most recent the decades, and their importance is proved by the expansion of the grouping phenomenon, the economic power they ...have at international/national level, as well as by the interest of information users in the wealth of groups, their performance and also their strategies. Our article presents aspects that bring to the forefront the manner of reflecting performance from the perspective of the aspects monitored by information users, or how the latter also see performance from the perspective of the information provided through the consolidated financial statement. We believe that highlighting certain fiscal aspect will raise interest, in addition to the accounting treatment and the manner of how performance is analysed at the level of groups of companies.
The outbreak of Covid 19, declared by the World Health Organization as global pandemic, has a considerable impact on financial management in adopting economic and financial decisions. On the ...background of actual conditions we face, the element that makes the difference at the business entity level is how each succeeds in managing its own resources in order to meet the current market requirements. The problems caused by this pandemic subject entities to numerous risks. This article was based on our desire to find out how the entity management manages these risks whenever it has to adopt managerial decisions.
Any business entity is based on labour, nature, capital and entrepreneurial ability in order to achieve the proposed objectives. The vast majority of the company assets are usually consumed over a ...longer or shorter period of time, passing on their value to manufactured/traded goods, services provided or works performed. The dynamic environment in which companies carry out their activity and the continuous desire to develop/expand with the purpose of increasing their economic performance/minimize risks, determine them to identify and select new investment opportunities. The article focuses on emphasizing the role and use of the accounting information in substantiating direct investment decisions.
In recent years, an increasingly greater importance has been given to investment properties, which tend to become a reality of the assets of many companies. It is not hard to guess why the ...specialised bodies, namely the accounting normalization or valuation ones, have reserved distinctive sections of standards/regulations meant to provide recommendations for a credible valuation and an adequate recognition. This article approaches investment properties from multiple perspectives, emphasizing the manner of valuating the value of investment properties and of their correct accounting, thus creating the premises for the increase in the quality of the information used in the decisional acts of the information users.
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