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In this article we present aspects regarding the budgetary management of sales and the forecasting techniques used in the budgetary management of sales, as well as a model for the retail (distribution) activity budget. The budgetary management of sales represents the first step in the budget network of a business, defined as a volume calculation that enables the determination of the level of activity for the distribution services and as a value calculation of the proceeds through which the business’s resources are determined.

The objective of this article is to present, according to the Order of the Minister of Public Finance No. 1802/2014 for the approval of the Accounting regulations regarding the individual annual financial statements and consolidated annual financial statements, as subsequently amended and supplemented, the recognition of the long-term debt, the summary of accounting regulations regarding these balance sheet elements, the accounting for different transactions and events related to long-term debt, as well as the impact of these transactions and events on the balance sheet and the statement of cash flows.

In these troubled times, professional accountants play an important part in short and long-term decision making in order to ensure the survival of companies. What is more, the users of financial information place their trust in professional accountants, hoping that they will be able to cover the effects of the COVID-19 pandemic on the performance of companies as completely and adequately as possible. How ready are professional accountants to take on the role of helping businesses affected by the pandemic, by providing entrepreneurs with advice?