CONTEMPORARY ECONOMY JOURNAL

14-19

Authors: Mihail Alin STANCIU

The economic-financial analysis is seen as a set of concepts, tools, methods, which facilitate the treatment of accounting information to assess the economic and financial situation of an entity and the level and quality of economic performance. The role of the economic analyst is to make some simple figures to "communicate" optimally to all categories interested in economic and financial information. The activity of any entity takes place in a dynamic and aggressive environment which emphasizes the need for the impact of economic and financial analysis on decisions, to be appropriate and balanced. Modern tools for reflecting information, including those of an economic nature, use computer systems to identify, extract and analyze available data to provide real support for business decisions. The information provided by these tools allows the observation of trends, difficulties, and business areas where there is a need to optimize the business. All these elements lead to a decentralization of decisions allowing employees to move from simple executors to decision makers. The main objective of the research of the economic-financial indicators in the construction field concerns the determination of the value of the construction works, as well as of the evolution tendencies, for the subsequent provision of the essential data about the activity of this field at the level of South Muntenia region.

29-34

Authors: Ionel LEONIDA

In the proposed paper we make an assessment of some features of fiscal policy in relation to the evolution of the economic cycle, which aims to capture the discretionary nature of fiscal policy and how it has contributed to stimulating or inhibiting the economy and the type of fiscal policy that has functioned during this period in the Romanian economy, from the perspective of the stabilizing function of the economic cycle. The indicators from which we start in the elaboration of the analysis are the budget deficit and the structural deficit, from which we will extract certain derived indicators. The methodology used to achieve the objective is qualitative in nature and aims to draw links between the stated aspects. The obtained results can be constituted in elements of qualitative evaluation of the fiscal policy from the perspective of its influence on the economic cycle.

40-48

Authors: Gica Gherghina CULIȚA

Several features of the digital economy underline the evolution of this new phase of industrial and innovation policies. As data become an essential input in every aspect of economic activity, many digital technologies have the potential to alter economies and redefine innovation, and they are thereby considered to be general-purpose technologies. In particular, digital technologies foster collaboration and help to form innovative ecosystems. Firms in the digital economy rely less on physical assets and more on intangible assets. This makes firms much more scalable (i.e. capable of expanding), allowing them to reach global markets, and some market players have come to hold dominant positions in the digital sector.

60-66

Authors: Ana-Maria NICOLAE (STAN), Gheorghița DUMITRACHE (TORCICĂ)

During the COVID-19 crisis, countries world wide tried to implement rapidly, some measures to reduce the risks posed by changes in education. Thus, the speed of reaction and implementation of responses to change became crucial, without neglecting the limits and risks of resource. In this context, all countries are exploring ways to reopen schools and, in parallel, are designing new models of education that extend the boundaries of physical schools through technology. Although a large number of challenges have been faced by students and teachers in the case of online teaching and learning, the good news is that online courses are undoubtedly a laudable initiative, in the sense that it reduces as much as possible, the loss of teaching activities. In order to develop this new education, teachers and students should be encouraged to see everything as a challenge, to invest in their own training, to overcome some inconveniences and to implement in a proper way only what facilitates teaching, learning and assessment in the current conditions.

77-87

Authors: Nicoleta MIHĂILĂ

The paper aims to highlight the main fiscal changes in companies due to globalization and the technological revolution (digitalization), as well as the influence on the environment in which companies operate, respectively the obstacles / barriers and fiscal facilities necessary to continue their activity in a favorable economic environment. In this sense, we took into account the evolution of the implicit tax rate at the level of the European Union, in the period 2006-2018 (we used this type of rate because it captures the best the tax changes in the analyzed period), the methodology used being a descriptive one, by appealing to various bibliographic sources, mainly from foreign specialty literature.

95-98

Authors: Elena TEODORESCU (MĂNESCU)

Quality and efficiency are two very important pillars of educational reforms around the world, which must be considered when building national management and quality assurance systems even at the level of the Romanian pre-university education system. Among the recommendations of this paper is a model of quality management in pre-university education, based on specialized reference, a model that must be measured permanently, being analyzed as a continuous process. The best way to ensure quality is systematic, ongoing attention to improving it and including quality in an organized quality assurance system. Quality and performance evaluation must be analyzed in parallel with the implementation of evaluation methods, to increase institutional autonomy, but also highlighting responsibilities. The introduction of systematic evaluation, with the main reason for better use of resources, makes the objectives set in the strategic management policy be achieved effectively.

110-117

Authors: Nicoleta PAVEL

The analysis of equity information submitted by entities in the annual financial statements allows information users to assess the objectives and policies adopted by entities on capital management. Equity information is presented in the Statement of Financial Position, the Statement of Change in Equity and the notes accompanying the financial statements. While matters relating to the recognition, valuation and presentation of assets and liabilities in annual financial statements are subject to specific accounting standards, equity issues are not subject to a specific standard, which are dealt with in the General Conceptual Framework and in some accounting standards. The General Conceptual Framework defined the concept of capital and the maintenance of financial capital, and in IAS 32"Financial instruments: presentation", IAS 29"Financial reporting in hyperinflationary economies", IAS 1"Presentation of financial statements" and other standards are prescribed criteria for the recognition, valuation and presentation of equity items. Some equity items such as equity and repurchased reserves, own shares are subject to national legal regulations. Information on the existence of reserves recognised under the legal provisions or restrictions on the distribution of equity items to owners is of interest to users. After Romania's accession to the EU, there was an extensive process of modernisation of legislation covering both company law and accounting rules in terms of eliminating any legal provisions that would have limited the functioning of companies in a competitive environment. Entities whose securities are traded on a regulated market and some entities with full or majority state capital apply the International Financial Reporting Standards as an accounting basis. With some exceptions, the transition of these entities to International Financial Reporting Standards has not significantly affected the total equity highlighted under accounting rules in line with European directives. The main changes in the equity structure were determined by the adjustment to inflation according to IAS 29"Financial reporting in hyperinflationary economies" and adjustments made as a result of the first application of the International Financial Reporting Standards. The interpretation of the equity information presented in the financial statements should be carried out in the context of the provisions of the relevant accounting standards and national legislation.

130-141

Authors: Lucian IVAN, Cosmin Sandu BĂDELE

Cryptocurrencies or virtual currencies have become a global phenomenon in recent years, where data and information about these types of assets and/or financial transactions have taken the form of news on web pages and/or media channels in recent times. Cryptocurrency is a type of financial asset, intangible as opposed to real currencies or real assets (real estate/securities, art, jewellery, etc.), which takes the form of a digital/virtual currency, using cryptography to achieve transaction security. This type of currency is difficult to counterfeit/counterfeit, as most cryptocurrencies are represented by decentralized systems, based on block technology, the presence of a distributed register, imposed by a different network of computers. In recent times, cryptocurrencies have seen spectacular price increases, with their value increasing exponentially on the free market. This is due both to the crisis generated by the global COVID-19 pandemic, against the backdrop of investor distrust of "classic" investment and savings instruments, and against the background of an aggressive global press campaign that has fervently promoted this type of financial assets. Although it is possible that in the coming period, as a result of the saturates of the cryptocurrency market, their value will decrease in terms of how they are made the currency of the future, given the anonymisation of the investor and the easy way of exclusively online trading of virtual currencies specific to the Millennium generation. In recent times, cryptocurrencies have become a successful investment tool, which can continue in the short to medium term, but the investment risk is quite high, being a relatively volatile savings tool. There are prerequisites for the use of virtual currencies as a means of payment for the future, given that "classic" online means (e.g. bank cards) lose in terms of additional costs (e.g. fees charged by banks).