Nowadays, when the contribution of agriculture and agro-food industry to the GDP is a significant, in Romania?s case we appreciate that the economic aspects of this area also deserve a specific approach. The aim of this paper was to identify the incompatibility of the recognition and assessment criteria of agriculture production, biological assets and agriculture products imposed by the application of these standards in agro-food companies, and to analyze its effects concerning the financial position and performance of these entities. The paper takes into consideration the economic-financial harmonization process, which is now in full progress, both in the EU and other states, by applying the specific standards (IAS/IFRS) in the preparation of annual/interim financial reports. Finally, referring strictly to the case of Romania, after thorough research into the field in question, we suggest a presentation of the controversial assessment criteria provided by the IAS 41 standard, and also refer to the difficulties related to the implementation of this standard in the agro-food industry.
The international accounting regulatory bodies were faced with a major challenge: that of ensuring the comparability and transparency of the financial reporting at an international level given that many local standards make financial reporting difficult. The need for financial statements comparable internationally and at the European level attracts interest in terms of developing quality accounting standards. Internationally, the research on the compliance with IFRS, in general, and on financial reporting, in particular, continues to be important. Romania, as an integral part of the European and international economic life, is included in this project of accounting standardization. In this study, we aim to cover a set of research methods and tools in order to facilitate the scientific research. The paper will be based on the principles of quantitative research as well as on those of qualitative research. As part of quantitative research, we will use figures and the statistical analysis method. In terms of qualitative research, we aim at an intelligent description of an event. As qualitative research methods, we will research the practice of the field, using overall analysis, observation, checklist as tools. In this paper, we reviewed the main studies in the previous literature which deal with the disclosure index in the financial reports, according to the IFRS requirements. We calculated and interpreted the disclosure index in the financial statements of Romanian companies in accordance with IFRS in terms of comprehensive income. The main obstacle in making our scientific approach is the relatively small number of subjects (the small number of listed companies).
The quality of works and a good reputation on the market are the main factors that lead to the success of a construction business. That is why most of the projects carried out in this sector involve the provision of performance guarantees which are mainly constituted by retaining the amounts from each payment. This impacts the cash, but also the liquidity ratios of the entities. The purpose of our research is to analyze the influence of the operating cash flow and the current liquidity ratio on the profitability in the case of construction companies. For this, we have developed a linear regression model on cross-section financial data related to a single reporting year and obtained from construction companies in western Romania. The results we have obtained did not reveal statistical significance for the exogenous variables used in the model. However, we consider it important to deepen the problem of cash flows and the ability of construction companies to meet their short-term obligations in the context of retaining performance guarantees. Further research in this regard based on panel data for several financial periods could provide relevant results
The economic and social transformations, the bankruptcies recorded, and the financial crisis affecting all economies have increased the interest for the corporate governance concept. Our intention in this paper was to study the impact of corporate governance attributes on performance given the information published by the entities listed on five stock exchanges from Europe, namely the main market from Bucharest Stock Exchange (BSE) in Romania, the Athens Stock Exchange(ATHEX) main market in Greece, Financial Times Stock Exchange 100 Index (FTSE 100) from Great Britain, Spanish Stock Exchange 35 Index (IBEX 35) from Spain, and Warsaw Stock Exchange 20 Index (WIG 20) from Poland, between 2016–2018. Through mathematical modeling and multiple linear regression, we aimed to determine the extent to which corporate governance characteristics, firm characteristics, industry and stock market fixed effects, and random effects influence the performance of 226 entities included in our sample. The empirical findings revealed that CEO duality, the number of non-executive directors and women on board, audit committee, and audit opinion influenced performance measured by the Return on Assets (ROA) and Return on Equity (ROE) indicators. The ideas highlighted and the results obtained in this research contribute to the literature that analyzes the extent to which an effective governance determines the increase in performance, needed for a sustainable development.
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