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This article presents aspects regarding the total cost of possession, the costs that are part of it according to the property held, its calculation and the difference between this cost and the cost of the product’s life cycle, as well as the formulas related to the assessment of the cost of the product’s life cycle. The article also includes practical examples regarding the calculation of the cost of the product’s life cycle, and lastly, it captures the advantages and disadvantages of estimating it.

Money is a social convention, a method of acquiring various goods and services designed to facilitate a person’s life. Over time, money has taken different forms, from gold coins to fiat coins. Along with digitization, the emergence of a payment method that should not involve a banking institution or a government that should have an influence on its purchasing power was desired, and in 2008 cryptocurrencies appeared. Cryptocurrencies are virtual currencies, unregulated by a financial institution, used as a payment method, and their system of use is based on a peer-to-peer technology, without the need for a third party intervention. The purpose of this paper is to present an overview of the cryptocurrency phenomenon and the impact that cryptocurrencies have on sustainable business development.

The accounting treatment and the information related to the agricultural activity that should be provided by entities operating in the agricultural sector and applying the International Financial Reporting Standards are stated by the International Accounting Standard (IAS) 41 Agriculture. In this article, we present aspects regarding the concept of agricultural activity, the scope of IAS 41, the recognition and measurement of biological assets, agricultural produce and bearer plants and financial statements disclosure, all these alongside a series of practical examples regarding the accounting treatments applicable according to the standard.

In the article hereby we present aspects regarding the responsibility centres and what they represent, respectively, the types of responsibility centres and the decisions about choosing the type of such a centre, as well as regarding the internal assignment prices and the methods for their setting.

In this article we present aspects regarding the objective of the treasury budget, the stages of its preparation and the elaboration of the provisional financial statements. The purpose of the treasury budget consists of translating the expenses and income generated by various activities in collections and payments monetary terms. Its elaboration is the result of an exhaustive budgetary approach, completed by preparing the provisional financial statements, that must be coherent with the long-term planning activities existing in the enterprise. In other words, the treasury budget transforms the expenses and income of all previous budgets in collections and payments, notion which favours that of the monetary fluxes due date.

In this article we present aspects regarding the development of the human resources budget, the calculation methods for the wage bill and the decisions related to the wage policy, alongside a series of examples, in order to convey a better understanding of the topic.

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.

Accounting information can be used to set prices, especially in the case in which the company is a market leader and can impose its own price-setting policy on its market. So, prices are generally already set by market leaders and the existence of competition in the case of similar products requires other organization to adapt their prices in order to match theirs. Even in these circumstances, knowing and understanding costs helps managers make decisions regarding the choice of product/service that must be carried out, the quantity that should be sold and whether the market price justifies the business risk involved in any decision to sell on this market. At the same time, understanding the adopted marketing strategy is crucial to using the information provided by management accounting (regarding costs) for price-related decisions.

The aim of this article is to present the techniques for production management, linear programming, the calculation of the needs in components, as well as the methods of charging and bottlenecks, alongside a series of examples, in order to provide the best understanding as possible.

The aim of this article is the presentation, 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, of the elimination of the shareholdings in subsidiaries, the sharing of the subsidiary’s equity, depending on the percentage of the interest, into the part that belongs to the company that consolidates and the part that belongs to the non-controlling interests, the elimination of the shareholdings owned in jointly controlled entities and in associates, as well as the determination of the equated shareholdings and the goodwill.

The aim of this paper 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 rules for eliminating intra-group accounts for transactions undertaken between companies consolidated through the global integration method and the equity method, the rules of eliminating the unachieved internal results when these are significant, as well as the types of eliminations of internal results that impact the consolidated result: dividends eliminations, the elimination of the result related to initial and final inventories, the result generated by the sale of long term assets and the valuation allowances for inventories and receivables.

The aim 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, of the adjustment mechanism for individual annual financial statements, of the adjustment rules for the individual financial statements in the case of consolidation based on the cumulation of balances (accounts), as well as of certain practical examples regarding the performance of adjustments both for the differences related to the current year, and to the ones related to the previous years.

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.

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 equity, the summary of the accounting regulations regarding these balance sheet items, the accounting for different transactions and events regarding equity, as well as the manner of preparing the statement of changes in equity.

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?

Sustainability risk management has become increasingly pertinent in the modern corporate landscape. It recognizes that environmental, social, and governance (ESG) factors are pivotal in shaping a company’s long-term viability. Sustainability risks encompass a broad spectrum of issues, ranging from climate change and resource scarcity to labor practices and supply chain disruptions. These risks can have a significant impact on a company’s financial performance, reputation, and stakeholder relationships. This paper examines the fundamental concepts and methodologies related to sustainability risk management, offering a structured framework for identifying, assessing, and mitigating such risks effectively. This process involves evaluating both existing and potential sustainability risks that could affect the company in the future. Additionally, the paper explores the potential role of accounting professionals in these efforts. Accounting professionals bring a unique skill set that can be instrumental in sustainability risk management. Their expertise in financial reporting, data analysis, and compliance is critical for ESG reporting and risk evaluation. They can aid in developing key performance indicators (KPIs) aligned with sustainability goals and assist in crafting comprehensive sustainability reports for stakeholders. Their involvement is essential for ensuring transparent and accurate ESG reporting, thereby bolstering the company’s credibility and attractiveness to responsible investors. In summary, sustainability risk management is a crucial aspect of contemporary corporate strategy, addressing the growing impact of ESG factors on business success. Engaging accounting professionals in sustainability risk management is a strategic move that can drive long-term value and contribute to a more sustainable and equitable future for businesses and society as a whole.

The International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB) of the IFRS Foundation support the integrated reporting of companies’ financial and sustainability performance to stakeholders. This paper aims to investigate whether financial and environmental, social, and corporate governance (ESG) practices have a real impact on the success of the companies in the European renewable energy equipment and services industry. Using the Granger test, the causality between the market capitalization and financial indicators was established, whereas no causality was identified between the market capitalization and ESG performance. The research led to the conclusion that the investment decision is mainly based on the information provided by the financial statements of the companies, the early stages of sustainability reporting regulation, and the need for increasing the quality and availability of corporate social responsibility information for investors.

The study theoretically and practically presents the accounting treatment prescribed for biological assets and agricultural produce by the Romanian Accounting Regulations compliant with the International Financial Reporting Standards (IFRS), by IAS 41 Agriculture, or other applicable standards, such as IAS 2 Inventories, for agricultural produce after the harvest. Thus, the initial valuation and the post-recognition one are treated based on the fair value reliably measured less the costs to sale. The study includes a theoretical part that summarizes the basic notions from IAS 41 Agriculture, such as consumable and bearer biological assets (in the form of inventories), mature and immature, the lands to which they are connected, the bearer plants, the gains and losses from their valuation at the fair value, the specific government grants and the disclosures. As well as a practical part in which case studies are presented in the form of complex examples regarding the prescribed treatment and the entering in the accounts of the transactions with biological assets, based on the Chart of Accounts of the Romanian Accounting Regulations compliant with the IFRS. [ABSTRACT FROM AUTHOR]

The study theoretically and practically presents the accounting treatment prescribed for biological assets and agricultural produce by the Romanian Accounting Regulations compliant with the International Financial Reporting Standards (IFRS), by IAS 41 Agriculture, or other applicable standards, such as IAS 2 Inventories, for agricultural produce after the harvest. Thus, the initial valuation and the post-recognition one are treated based on the fair value reliably measured less the costs to sale. The study includes a theoretical part that summarizes the basic notions from IAS 41 Agriculture, such as consumable and bearer biological assets (in the form of inventories), mature and immature, the lands to which they are connected, the bearer plants, the gains and losses from their valuation at the fair value, the specific government grants and the disclosures. As well as a practical part in which case studies are presented in the form of complex examples regarding the prescribed treatment and the entering in the accounts of the transactions with biological assets, based on the Chart of Accounts of the Romanian Accounting Regulations compliant with the IFRS. [ABSTRACT FROM AUTHOR]