Papers by Liliana Feleaga
The AMFITEATRU ECONOMIC journal, 2014
Aligning the Romanian university education to the Bologna Treaty requirements generated the estab... more Aligning the Romanian university education to the Bologna Treaty requirements generated the establishment of the professional skills that have to be obtained by students through business education. To enhance the skills to be acquired by a student along his preparation, the curriculum of the Faculty of Accounting and Management Information Systems within the Bucharest University of Economic Studies was changed several times. This paper follows the evolution of the curriculum for the bachelor’s degree of the Faculty of Accounting and Management Information Systems for a period of eight years. To highlight how the curriculum was adjusted according to the expectations of stakeholders the neo-institutional theory was used, applying the concepts of coercive, mimetic and normative isomorphism. The documentation sources were: curriculum for bachelor’s degree for the period 2005-2013, syllabuses used during 2011-2013, notes of discussions with representatives of the professional bodies, res...
In Europe there are some special regulations for state owned enterprises. In Romania we can discu... more In Europe there are some special regulations for state owned enterprises. In Romania we can discuss about corporate governance starting with year 2001, when the first code was established by the Bucharest Stock Exchange. Through the present research we analyze the principles of corporate governance in state owned enterprises, seeing that the most studies are focused on the listed companies. In Romania we can see only a formal implementation of the corporate governance principles in accordance with The Government Emergency Ordinance No. 109/2011.
Journal of Accounting and Management Information Systems, 2016
Related party transactions and transfer prices have begun to be considered a powerful instrument ... more Related party transactions and transfer prices have begun to be considered a powerful instrument of financial frauds as a result of the recent financial scandals. Transactions with related parties situated in tax havens are one of the principal elements which contribute to the faltering confidence of the investors. We focused on the related party transactions and transfer prices in the context of Romanian listed companies given the features of the local institutional context. For example, 36% of the companies listed on Bucharest Stock Exchange have affiliates in tax havens. The objective of this study is to analyse how the Romanian companies listed on Bucharest Stock Exchange disclosed during 2012-2014 the related party transactions and information regarding transfer pricing and what institutional factors are associated with disclosure. We found that companies audited by a Big Four, large companies and companies which perform transactions with non-resident related parties disclose m...
Background: The information technology (IT) is presented in all levels of the supply chain, from ... more Background: The information technology (IT) is presented in all levels of the supply chain, from the communication with suppliers, through the manufacture process and until the delivery to clients. Moreover, IT has a positive effect on the performance of the supply chain. In this context, it is important for the IT sector to register a positive evolution, in other words it is important that the IT companies to be profitable and to continue to exist on the market ensuring the provision of the necessary tools for the logistic sector. Therefore, the objective of this paper was to analyze the profitability of the IT companies and to identify which factors impact it. The importance of our study in the context of the logistic sector can be sustained by the fact that technology information constitutes a crucial strategic aspect for the logistics service providers and it is important to maintain a positive evolution of the IT sector. Methods: There was used a regression analysis which start...
Using a simplified approach it may be stated that the financial accounting theoretical framework ... more Using a simplified approach it may be stated that the financial accounting theoretical framework is structured on three levels. At the first level, reference is made to the accounting objectives. These objectives are fundamental for the theoretical framework. At the second level, we find the accounting information characteristics and explicit mentions about the headings of financial statements. The mentioned characteristics of accounting information represent the basic issues for ensuring its utility. The headings represent the main categories of elements disclosed in the financial statements, like assets and liabilities – these two elements’ definitions brought radical changes both in the accounting thinking and practices. Overall, the second level’s components represent the basis for building the practice directives as a matter of recognition (identification) and measurement (evaluation). Inside the third level, the recognition and measurement directives are being detailed, which ...
In some of the continental European countries (e.g. France), there is a necessity to make a clear... more In some of the continental European countries (e.g. France), there is a necessity to make a clear distinction between the legal issue of commerce fund (fonds de commerce, in French language), and the related accounting concept represented by goodwill. Fonds de commerce represents a set of movable and immovable goods with a common destination, therefore having a unique legal status. Goodwill is an intangible asset item that is placed within the Balance Sheet. It holds together all the fonds de commerce elements which finally form a subset containing the following: (i) intangible assets; (ii) not evaluated, nor separately recorded; (iii) purchased, but not internally created; (iv) which compete for the maintenance and further development of the company’s activity potential. The goodwill issue appears very often within the consolidated accounts. A commercial relationship between the parent of a group and one of its subsidiaries may appear either through the creation of a new enterprise...
Journal of Accounting and Management Information Systems, Dec 1, 2017
In the context in which transfer pricing may represent a mechanism through which multinationals h... more In the context in which transfer pricing may represent a mechanism through which multinationals have the possibility to move funds internationally, in order to prevent the base erosion and profit shifting between multinationals, countries over the world have adopted various transfer pricing regulations. Furthermore, some of the countries adopted stricter regulations than others. The objective of our research was to identify the level of strictness for the transfer pricing regulations from the European countries. To achieve this objective, we analyzed the transfer pricing regulations of all European countries and we built a transfer pricing strictness index, based on which we defined 4 categories of countries (where category 1 includes the countries with the least strict transfer pricing regulations and category 4 countries with the strictest regulations). After that, we illustrated how these categories are distributed on the European map. In order to collect the information, we used the transfer pricing guides issued by the Big Four companies for the year 2015. The study`s results show that the strictness of the transfer pricing regulations decreases from the west of Europe to east. Moreover, most of the countries were included in category 2, respectively category 3, meaning that the transfer pricing regulations from the European continent are not so flexible, but in the same time are not so strict.
Audit Financiar, 2016
The setting up of groups of companies has become a large scale phenomenon, dominating the global ... more The setting up of groups of companies has become a large scale phenomenon, dominating the global economy. These groups have set up subsidiaries in different countries, leading to the occurrence of issues regarding the taxation of the results within the group, and to the development of the transfer pricing concept, respectively. This concept has been used over the time by multinational corporations to move their profits in lowtax jurisdictions. For this reason, globally, there have been concerns regarding the adoption of a legislation that could combat the base erosion and profit shifting. This article analyses whether the adoption of a legislation which provides the transfer pricing documentation requirement represents an efficient measure for the blurring of the base erosion and profit shifting phenomenon. The research was performed at the level of the member countries of the Organisation for Economic Cooperation and Development. The article also aims to clarify certain aspects regarding transfer pricing and to provide a practical approach of the associated mechanisms. The novelty, originality and impact of the article on the accounting profession are represented by the fact that the transfer pricing concept is relatively new for the specialists from Romania and also for the tax authorities.
Audit Financiar
The present research explores the strategic orientation of listed companies, with a focus on thei... more The present research explores the strategic orientation of listed companies, with a focus on their mission, vision, and values, that defines the aspirations and the goals that govern that organization. The data were collected from the official websites. Based on the literature review there were identified the main missions, values, and visions, that were grouped, after analyzing all the financial and non-financial reports, within categories, such as emphatic values/people oriented, cultural values, workplace values. Because one of the most important stakeholder within any organization is represented by the employee, the authors also grouped them within identity reflected (relational, organization, workplace, competence/professional). Results are mixed and show that only 62% of companies disclose information regarding their vision, 85% of them disclose information regarding their mission, while 54% of companies disclose their values. The main objective of the classification is to establish a framework for a future template of corporate social responsibility. The relevance of the research is given by the topicality of the research. The originality of the research derived from the modality of approaching the theme, from the objective of the research and also from the fact that there is an increasing interest in society, in general, for promoting accountability, respect for human rights, environment, health and security. The objective of the present research is to highlight the important role of vision, mission and values of a company. These represents the pillars for a successful organization and may be disclosed in separated statements or may be integrated in a single statement. Their purpose is to communicate to both internal and external stakeholders the main goal of the organization.
The International Journal of Knowledge, Culture, and Change Management: Annual Review, 2010
Annals of Faculty of Economics, 2013
The Amfiteatru Economic Journal, 2014
Prudence in accounting is a cornerstone concept which has shaped accounting theory, as well as or... more Prudence in accounting is a cornerstone concept which has shaped accounting theory, as well as ordinary financial reporting. Thus, on the quantitative side of the study, we developed a proxy for accounting conservatism, namely the degree of uncertainty associated with the settling of a company's obligations. To this purpose, we handcollected accounting data for 388 business groups from 17 European countries. For these companies we computed the provisions-to-liabilities ratio (PLR) and performed several group tests, according to the following original classification of national accounting cultures. The results indicate that companies incorporated in countries that are classified as 'conservative' do assign a significantly higher degree of uncertainty to their total amount of liabilities.
In some of the continental European countries (e.g. France), there is a necessity to make a clear... more In some of the continental European countries (e.g. France), there is a necessity to make a clear distinction between the legal issue of commerce fund (fonds de commerce, in French language), and the related accounting concept represented by goodwill. Fonds de commerce represents a set of movable and immovable goods with a common destination, therefore having a unique legal status.
Using a simplified approach it may be stated that the financial accounting theoretical framework ... more Using a simplified approach it may be stated that the financial accounting theoretical framework is structured on three levels. At the first level, reference is made to the accounting objectives. These objectives are fundamental for the theoretical framework. At the second level, we find the account- ing information characteristics and explicit mentions about the headings of financial statements. The mentioned
The accounting procedures cannot be analyzed without a previous evaluation. Value is in general a... more The accounting procedures cannot be analyzed without a previous evaluation. Value is in general a very subjective issue, usually the result of a monetary evaluation made to a specific asset, group of assets or entities, or to some rendered services. Within the economic sciences, value comes from its very own deep history. In accounting, the concept of value had a
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Papers by Liliana Feleaga