<abstract><title style='display:none'>Abstract</title>The experience of fraudulent financial reporting scandals that shocked American corporate history in the early 2000’s marked a turning point in the evolution of the financial auditing profession, out of a desire to restore investors’ confidence in the integrity of listed companies’ financial information. The establishment of a public supervision authority for audit firms (PCAOB), the establishment of an audit committee for listed companies or the obligation to report on the effectiveness of internal control over financial reporting, among with severe financial sanctions for corporate fraud, are the most representative legislative measures imposed in the US by the Sarbanex-Oxley Act (2002) to achieve this goal. To a large extent, these measures have also been adopted in Community law, most likely under the impetus of similar events, such as the Parmalat case (2003). Here that, at a not appreciable time distance, such a sensitive issue of fraudulent reporting returns to the center of investors’ attention through the case of the German electronic payment processor - Wirecard (2020). The article aims to investigate possible early signals that could have indicated risk factors or circumstances that could have favored fraudulent financial reporting in the case of this issuer. In essence, the research methodology is limited to the application of the Beneish model on the annual financial reports from 2016-2018, in order to assess its validation in relation to the values of the score function (M).</abstract>

Testing early signs of fraudulent financial reporting – case of WIRECARD

<abstract><title style='display:none'>Abstract</title>Rebranding is regarded as a necessary form when an organisation faces different problems due to the economic transformations of the society that requires new ways of visibility and decides to assign revitalization techniques to the brand image in order to refresh it. Nowadays, most of the Romanian banking companies went through the rebranding process firstly because they were involved in mergers and acquisitions, and secondly, to expand their target markets and to keep their loyal customers in an ever-changing market environment. This study aims to outline the impact of rebranding on a financial institution in Romania, CEC Bank, the oldest Romanian bank operating on the Romanian market since 1864. Following the 2007 rebranding, the purpose of the bank was to create a competitive commercial bank image. For this bank the rebranding process proved to be successful.</abstract>

Rebranding and its Impact on Banking Activities – Case Study

<abstract><title style='display:none'>Abstract</title>The field of luxury has a series of characteristics that allowed a spectacular growth over time, to acquire stability and remarkable recovery power after adverse economic events, including global ones. Associated with extravagance, prestige or elitism, luxury is a need that manifests itself at the level of individuals due to the emotional side that these products highlight. In this paper we conducted a study on the purchase of luxury products among consumers of the Mureș county, mainly aiming to identify the importance and characteristics of the consumption of luxury clothing and accessories.</abstract>

Study on the personal luxury goods market

<abstract>
<title style='display:none'>Abstract</title>
In a world where economic challenges and changes are permanent, economic entities, and especially the management of these entities, need correct and useful information to be able to make effective economic decisions regarding the present and future activity of the entities. Financial performance analysis is an indispensable and permanent managerial task, without which plans regarding future investments or strategies cannot be drawn up. The aim of the paper is to analyze the financial performance of the company SC UNOTIP SRL, based on the data from the financial statements for 5 consecutive years, with the help of the indicators that can best characterize the financial performance. Following this analysis, the authors formulate conclusions and recommendations regarding the improvement of the analyzed company’s performance.
</abstract>

Financial Performance Analysis at SC UNOTIP SRL

<abstract><title style='display:none'>Abstract</title>The Beneish model is a useful tool for assessing the potentially fraudulent behaviour of an entity that could resort to misstated financial reporting by manipulating earnings. Tarjo ---amp--- Herawati (2015) concluded that “the M-score of the Beneish model was generally able to detect financial fraud”, following a study on 35 listed companies that were confronted with allegations of fraud in the period 2001-2014, by accessing the sanctions database applied to companies of public interest (issuers) published by the Financial Supervisory Authority. Also, <xref ref-type="bibr" rid="j_amso-2019-0005_ref_001_w2aab3b8c10b1b7b1ab1ab1Aa">Ahmet Ozcan (2018)</xref> stated that the Beneish model “brings effective value in the analysis of the quantitative characteristics of falsified financial statements”, a conclusion based on a concentrated research on a sample of 174 firms over the period 2005-2017. However, the construction of this model was not oriented for the financial services industry, therefore the studies referred to above do not include any investment firms. Our research aims to assess the relevance of the use of the Beneish model to entities involved in scandals on fraudulent or suspected distorted financial reporting operations (Romcab, 2017 and Harinvest, 2013) in order to Test the Beneish model’s validation capability. On the basis of the conclusions obtained, it can be accepted that the applicability of the model is validated for the entities examined.</abstract>

Testing the Beneish Model Relevance in Case of Entities with Confirmed Reputational Risk

<abstract><title style='display:none'>Abstract</title>Augmented Reality (AR) is a current, sustainable, efficient, and promising tool that will make an essential contribution to the development of the Industry 4.0 revolution. AR technology fully and effectively responds to the current extended digital age, in the last year and in the field of education, of learning at all levels. The applicability of AR technology is varied and complex: retail interior design, health, industry, logistics, etc. This paper show the applicability of AR technology in the learning process, from the perspective of the Industry 4.0 concept, highlighting the sustainable and efficient aspects on the economic performance and not only of the companies. The main conclusion of this research is that the use of modern digital technology (AR and VR) in learning in various fields, including education, must be based on the principles of ROI (Return on Investments) and SROI (Social Return on Investments).</abstract>

Augmented Reality technology - a sustainable element for Industry 4.0

<abstract>
<title style='display:none'>Abstract</title>
This study examines the perceptions of stakeholders regarding air quality and how it influences the tourism industry, exploring the relationship between air quality and travel decisions, the impact of air pollution on tourism demand, sustainable rural tourism development, and the level of air quality awareness in tourists' home countries. Utilizing the Q Methodology, based on Stephenson's theoretical concept of operative subjectivity, subjective perceptions and opinions of stakeholders in Mureș County regarding the impact of air quality on the tourism industry were measured. Data were collected through the Q-sort tool from a heterogeneous sample of 20 participants (P-sample) socio-demographically. The research highlights significant concern about air pollution and its impact on tourism and the environment, particularly in Târgu Mureș. The results reveal strong disapproval among the stakeholders, suggesting a common, homogeneous understanding of the importance of environmental protection and the need for a sustainable approach in the tourism industry and beyond. Three relevant factors were identified, including unfavorable perceptions regarding (1) the impact of pollution, (2) consensus on the importance of environmental conservation in sustainable tourism, and (3) diversity of perceptions regarding the impact of pollution on tourism demand and tourist satisfaction. The findings underscore the necessity of a balanced and genuine approach to promote sustainable and responsible tourism, considering similarities and differences in perceptions regarding the impact of pollution on tourism demand.
</abstract>

The Impact of Air Quality on the Tourism Industry: Measuring Stakeholder Subjectivity in Mures Country Using the Q Methodology

<abstract>
<title style='display:none'>Abstract</title>
Turkey has had another year of high inflation and high devaluation in its economic history. Inflation has been a continuing phenomenon in Turkey for many years. The paper analyzes the consequences of high inflation and devaluation rates on financial statements. Inflation and devaluation create difficulties both for local and foreign subsidiary companies` financial reporting. A model company`s transactions have been used to show the effects of inflation, devaluation on the financial statements. Application of different IAS based reporting methods will create discrepancies among the companies of foreign subsidiaries. Another discrepancy is due to which inflation rate to be applied for IAS 29 purposes. There are two inflation rates being discussed by the public. One is declared by the government statistical agency called “TurkStat” and the other one declared by the non-governmental academicians` organization called “ENAG”. ENAG`s inflation rate-being more than twice of the TurkStat`s makes the case even more interesting. Since government is not going to allow the inflation accounting rules for financial reporting for local/tax purposes for 2022 fiscal year, companies with revenues exceeding expenses and assets exceeding their liabilities will be declaring profits and paying taxes whilst in fact, high inflation and devaluation are sweeping away those profits.
</abstract>

The Dilemma of Annual Reporting for Turkish Companies for 2022

<abstract>
<title style='display:none'>Abstract</title>
The main objective of this research is to identify and systematize tools for measuring the quality of financial reports, in order to support researchers considering this comprehensive area. By using the PRISMA system in as transparent a manner as possible, we also aimed to find potential gaps in all 89 articles and scholarly papers examined in the smallest detail. As the quality of financial reporting is ultimately aimed at mediating the relationship between the entity and the user, it is not a topic addressed individually, the secondary object of this paper is to expose the most common themes and discussions associated with this object of study, such as: characteristics of entities, adoption of International Financial Reporting Standards, shareholding structure, corporate governance and audit committee.
</abstract>

A Screening of Tools to Measure the Quality of Financial Reporting

<abstract>
<title style='display:none'>Abstract</title>
In the context of the Russian invasion, many FDI companies decided to leave the Russian market. This phenomenon of massive migration of FDI has had a substantial impact on the macroeconomy of the Russian Federation. In this paper we aimed to analyse the effects of FDI company migration on the main macroeconomic indicators. The main macroeconomic indicators were analyzed for a period of 30 years, and based on these developments and the outflow of FDI companies a forecast of the indicators was made.
</abstract>

The Impact of Migration of FDI Companies from Russia in the Context of the Russian-Ukrainian Military Conflict

<abstract>
<title style='display:none'>Abstract</title>
Our research focuses on the analysis of the effects of the crises of the last 20 years on the development of the standard of living in Romania and Hungary. In the research, we focus primarily on the economic crisis of 2008 and the economic and social shock caused by the COVID-19 pandemic. The study includes an overview of the economic and social situation of Romania and Hungary, the presentation of the concept of crisis, and the indicators that describe the standard of living (GDP per capita, the Gini coefficient, indicators of poverty and social exclusion and indicators that describe the development of the labor market). In our analysis, we examine and compare the evolution of indicators measuring the standard of living in Romania and Hungary during the crises.
</abstract>

The Effects of Crises on the Living Standards in Romania and Hungary in the 21st Century – Similarities and Differences

<abstract>
<title style='display:none'>Abstract</title>
After a period of pandemic (COVID-19), the liberalisation of electricity markets (on 1 January 2021), the start of the war in Ukraine, the imbalances between energy supply and demand at European level, energy policies at EU (towards green energy) and national level, prices are rising massively and consumption is falling for both individuals and companies, with a direct impact on the financial performance of companies in this sector. The assessment of the financial performance of companies in the energy sector was based on a set of indicators calculated from both financial statement and market data. The analysis was carried out during 2019-30 September 2023 and targeted two producers S.N.G.N. Romgaz S.A., S.N. Nuclearelectrica SA, a carrier C.N.T.E.E. Transelectica SA and a distributor Societatea Energetică Electrică S.A.
</abstract>

Analysis of the Financial Performance of Energy Companies in the Current Context in Romania

<abstract><title style='display:none'>Abstract</title>Organizational process optimizations are crucial to meet nowadays challenges, especially in the educational institution environment, where information flow is very intense, and actors involved are different from decision making perspective. The relations with students are one of the most important aspect of educational institutions processes, therefore, the more automated and digitalized is this process, the more attention can be invested to continuous improvement of other organizational processes. Our study intends to promote continuous improvement of student relationship management of universities by active usage of ICT solutions available in organization and prepare internal regulations and staff for this transformation.</abstract>

Student Relationship Management Optimization Using Organizational Process Automation Tools

<abstract><title style='display:none'>Abstract</title>The role of corporate governance in achieving the financial performance in a sustainable development context is recognized. A fundamental premise in defining and applying good corporate governance is the area of the elements that describe the structure of the capital, elements that influence the guidelines and policies of the Board of Directors regarding the obtaining of the financial performance. On the equation “share capital - financial performance” we find the imprint of the compliance rate of the management statements with the requirements of the Corporate Governance Code applicable on the capital market on which the entity trades its shares. In this context, considering the compliance of the management statements published in the set of annual reports with the Corporate Governance Code, our researches investigate the relationship between the capital structure and the financial performance of the banks listed on the Bucharest Stock Exchange.</abstract>

Investigations Regarding the Influence of Corporate Governance on Financial Performance. Empirical Study on Banks Listed on the Romanian Capital Market

<abstract>
<title style='display:none'>Abstract</title>
Key performance indicators (KPIs/KPRs) made in a company with a field of activity in automotive allow for the gathering of knowledge and explore the best way to achieve the organisation’s objectives. Many researchers have offered different ideas for determining KPIs either manually, semiautomatically or automatically applied on different fields. This paper focuses on providing a study of an approach to explore key performance indicators (KPI/KPR). This work presents explanations about the process organization, the selection path of KPI/KPR and a practical example of measuring KPI/KPR in production department with the meaning of providing an interesting image of how people work and analyze complex situations and design or react to their strategies.
</abstract>

Analysis of Key Performance Indicators Impact in a Company of Change Requests brought to Speed Sensors in the Automotive Industry in Order to Optimize the Manufacturing Process

<abstract><title style='display:none'>Abstract</title>Six Sigma is not a training, but it is business strategy which involves the entire staff. The main goal of this works represents the analysis of the implementation of Six Sigma method within a company, like future solution for growing and developing a business. As main method of research was used documentation. The research carried out in this work will try to test/research two important aspects regarding the situation of a company: applying these methods accordingly may produce positive effects on long term on the business environment and create a healthy growth and economic development within a company.</abstract>

Six Sigma Method Important Element of Sustainability

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Acta Marisiensis. Seria Oeconomica

Acta Marisiensis. Seria Oeconomica publishes original scientific works in a variety of economic fields, but priority is given to articles covering topics in areas related to finance,...

Acta Marisiensis. Seria Oeconomica publishes original scientific works in a variety of economic fields, but priority is given to articles...