eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-07-01 14 139 747 760 10.20869/AUDITF/2016/139/747 9485 article Tudor Oprişor tudor.oprisor@econ.ubbcluj.ro 26 Adriana TIRON-TUDOR adriana.tiron@ubbcluj.ro 26 Cristina Silvia NISTOR cristina.nistor@econ.ubbcluj.ro 26 Babeş-Bolyai University of Cluj-Napoca In the recent years, integrated reporting has made progress towards becoming an efficient communication instrument that would bring an active contribution to the financial stability and sustainability of the economic environment. This paper employs mainly a documentary research approach and aims to track one of the main prerequisites leading towards new trends in public sector reporting – the concept of “public accountability”, and pinpoint the existing evidence which supports the perspective of adopting an integrated reporting system for public entities. Also, the authors emphasize the reaction from practitioners to the idea of “integrated reporting for the public sector” and analyse the frontrunning application of hybrid forms of reporting (e.g. City of Warsaw Integrated Sustainability Report), as well as the profile of the “Integrated Reporting – Public Sector Pioneer Network.”. Findings show that integrated reporting is gaining momentum towards application in the case of public sector entities, but advancements are rather slow. Due to the scarcity of data from reporting practice regarding integrated reports in the public sector (as the Pioneer Network is currently under development), which makes it difficult to construct an empirical study with actual evidence, the authors use extrapolation and knowledge transference from existing proof of hybrid forms of reporting. http://revista.cafr.ro/temp/Article_9485.pdf Integrated reporting public sector accountability integrated thinking. eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-07-01 14 139 761 768 10.20869/AUDITF/2016/139/761 9487 article Marinela Daniela MANEA m_manea7@yahoo.com 25 Valahia University, Târgoviște Starting with 2005, at an European level, the European Commission alongside the International Federation of Accountants (IFAC) promoted the implementation of accrual accounting within the public sector and, by default, the shift from cash accounting to accrual accounting, as well as the development of financial statements based on the International Public Sector Accounting Standards (IPSAS). IPSAS’ starting point were the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). The requests of the IPSAS Standard 21 “Impairment of Non-Cash-Generating Assets” were drawn up in accordance with this policy. The differentiated practices that can be applied to the public sector in relation to the private sector have led us to the analysis of the solutions suggested by IPSAS 21 precisely to understand and further study the concepts and mechanisms of the depreciation of assets that generate income other than cash flows. Without neglecting the reality of the Romanian accounting practice within the public sector, we will gradually go through the steps of measuring and recognizing the depreciation losses associated with the assets that generate income other than cash flows, owned by the public entities. http://revista.cafr.ro/temp/Article_9487.pdf Public sector non-cash-generating assets depreciation loss recoverable value eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-07-01 14 139 769 780 10.20869/AUDITF/2016/139/769 9488 article Viorel TURCANU vturcanu@mail.ru 24 Irina GOLOCIALOVA monomah5@yandex.ru 24 Academy of Economic Studies of Moldova The multiple users will not be able to make correct decisions, unless the information provided by accounting is exact and transparent. Otherwise we cannot state that it communicates the accounting truth with regard to the activity of a company. The accounting truth is determined by several factors, like the accounting technique, the principles and the qualitative characteristics, the accounting normalization and the audit. The objective of the study is to provide a general analysis of these factors, as well as to investigate the manner in which these support the assurance of the accounting truth in the Republic of Moldova (RM) in the context of the IFRS concept of true and fair view, also relying on practical examples from the banking system. The results of the study show that the accounting truth in RM entities is ensured to a large extent, due to the positive impact of these factors. At the same time, there is still room for improvement in theoretical matters of accounting and financial reporting, as well as for the development of the accounting legal framework, with the purpose of expanding the financial analysis potential of the disclosed information. The situation of the banking system shows that, if no adequate attention is paid to the operative and strategic analysis of the financial position and results, including based on audit, economically destructive phenomena can take place, both at entity-level, and at country-level. http://revista.cafr.ro/temp/Article_9488.pdf Accounting truth accounting technique qualitative characteristics normalisation audit control eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-07-01 14 139 781 788 10.20869/AUDITF/2016/139/781 9489 article Marioara AVRAM marioaraavram@yahoo.com 23 Veronel AVRAM veronelavram@yahoo.com 23 University of Craiova Bank deposits have been known even since the Antiquity. From the legal perspective, the bank deposit was always covered with due care and received the deserved attention, while regulations generally reflected the current views, from the legal, economic, social, cultural and religious perspectives. The new Civil Code, applicable in Romania starting from October 1st 2011, brings a new element within article 2191. The fund deposit, a change that is situated against the millennial regulations of the deposit contract, when it specifies that “Subsequent to the constitution of a fund deposit at a credit institution, it gains propriety over the deposited amounts of money”. Even since the Antiquity, the Roman jurists have caught the economic and judicial nature of the unregulated deposit contracts that emphasized the depository’s obligations. The religious obscurantism of the Middle Ages did not allow the differentiation between the deposit contract and the loan contract as passive operations meant to attract the financial resources of the bank. Nowadays, the confusion still exists and fuels the financial instability. Even since the emergence of accounting as a science, the bank deposit has been seen as a financial asset for the depositor and a debt for the banker. The accuracy of the accounting information regarding the bank deposits is validated and confirmed through the internal and/or external auditing procedures. http://revista.cafr.ro/temp/Article_9489.pdf Bank deposit unregulated deposit loan contract – mutuum fractional reserves. eng Chamber of Financial Auditors of Romania Audit Financiar 18448801 2016-07-01 14 139 789 799 10.20869/AUDITF/2016/139/789 9490 article Adriana Mihaela IONESCU amihaela.ionescu@gmail.com 22 Cristina Elena BÎGIOI cristinaedumitru@gmail.com 22 University Politehnica of Bucharest In the economic activities enterprises set goals which, if achieved, enable performance improvement. In this regard, it becomes necessary to develop forecasts mentioned in budgets, which are used as tools for enterprise performance management. Creating an effective budget system, closely related to the medium and long-term plans of the company, is the key to profitable economic activity, which allows to find the right path to achieving the proposed objective and to promptly detect any obstacles. The budget is thus a strategy to improve performance by achieving better productivity, more efficient money spending, and to motivate employees to fulfil the budgetary provisions. In the process of budgeting, the starting point is the sales budget, based on the sales program to which the company aims. Within it, the quantity, the selling price and the projected turnover are broken down into different time periods. Preparing a budget of marketing expenditures constitutes a logical consequence of the commercial activity as defined in the sales budget, thus allowing the establishment of the costs for the sale of the company’s products and the commercial margin. http://revista.cafr.ro/temp/Article_9490.pdf Forecast performance sales budget turnover costs.