Veronica Grosu

Observations on Budgeting and Planning Under an Efficient Controlling System on a Corporate Level

There is currently no economic entity that is free from distress, risks and difficulties of various kinds that eventually lead to rather negative effects on the business plans, on the strategies and the set objectives of the company and invariably affecting the corporate image and the relationships with business partners or other categories of stakeholders. Thus, regardless of their size, corporations now have to adjust, monitor and co validate the control activities and procedures in compliance with the effective regulations and, at the same time, react promptly and enforce corrective and continuous control measures in order to ensure of the efficiency of these actions and observe the active legal provisions. The objective of this paper focuses on this specific context, emphasizing and analyzing the manner in which the issues and the risks encountered by a business entity can be avoided or overcome through the implementation of the fundamental controlling principles that are defined by the significant controlling methods and instruments that are essential for the planning and budgeting of the economic and financial indicators.

Comparative Study Romania-Italy Concerning the Implementation of IAS/IFRS

Since 1 January 2005 European listed companies have to start using new International Accounting Standards (IAS/IFRS). It is an important chance for studying the relationship between accounting informations and financial markets. Since quality, transparency and comparability of financial informations reported by companies affect the informational and a locative efficiency of capital market, European Union has carried out a global accounting harmonization process that has been achieved by setting common accounting standards (IAS/IFRS). The basic idea of this harmonization process is to improve the relevant characteristics of informations made available by the firms. Although we think this accounting harmonization process is important and it can be the right way to improve informational efficiency of financial markets, we think it is necessary to further investigate some crucial topics.