TRENDS IN THE PRESENTATION OF BUDGET INFORMATION IN ROMANIAN FINANCIAL STATEMENTS

The country's general economic development links public finances with the state, which needs financing, as they are a major concern for specialists in the field. The budget has objectively established itself as an appropriate and indispensable support for the establishment and rational manageme...

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Autores principales:	Margareta Făgădar (Ghişa), Claudiu – Florin Deac
Formato:	article
Lenguaje:	DE EN FR IT
Publicado:	University of Oradea 2021
Materias:	budget, revenue, expenditure, effectiveness, financial management Business HF5001-6182 Finance HG1-9999
Acceso en línea:	https://doaj.org/article/520bc3d8eec4485096c5ddd12ab62b50
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spelling	oai:doaj.org-article:520bc3d8eec4485096c5ddd12ab62b502021-11-09T19:45:20ZTRENDS IN THE PRESENTATION OF BUDGET INFORMATION IN ROMANIAN FINANCIAL STATEMENTS1222-569X1582-5450https://doaj.org/article/520bc3d8eec4485096c5ddd12ab62b502021-07-01T00:00:00Zhttp://anale.steconomiceuoradea.ro/volume/2021/n1/023.pdfhttps://doaj.org/toc/1222-569Xhttps://doaj.org/toc/1582-5450The country's general economic development links public finances with the state, which needs financing, as they are a major concern for specialists in the field. The budget has objectively established itself as an appropriate and indispensable support for the establishment and rational management of public financial activities. A budget provides an overview of resources and how they are redistributed to achieve organizational objectives. Although the need for a system of programming and highlighting revenue and expenditure to support the implementation of specific activities and the dimensioning of their effectiveness is recognized, it is considered that this need is more pressing for public activities. As a financial management tool for strategic budgetary planning, best practices in the field of planning, and public financial management are strengthened, the public budget ends each year with the approval of the general account of its implementation. Romania is actively involved in the modernization of public sector financial management, thus it has managed to implement a well-functioning it service for reporting the financial statements of public institutions, which facilitates the collection of information needed for EU-level reporting. The implementation of this system at national level results in the discipline of the budget institutions and in full transparency as regards the budget used and how this budget has been spent. The aim of this work is to present, through an exploratory approach, the temptations in the presentation of budget information in the Romanian financial statements. Planning a realistic budget ensures optimal allocation of state resources, the achievement of political priorities, and involves only an extension of the time horizon in the preparation of the public financial plans, but also an economic focus and efficiency in the management of public resources. Responsible financial and budgetary management generates efficiency, effectiveness and performance in the design and implementation of balanced budgets for the functioning and development of the administrative capacity of public administration structures.Margareta Făgădar (Ghişa)Claudiu – Florin DeacUniversity of Oradeaarticlebudget, revenue, expenditure, effectiveness, financial managementBusinessHF5001-6182FinanceHG1-9999DEENFRITAnnals of the University of Oradea: Economic Science, Vol 30, Iss 1, Pp 212-219 (2021)
institution	DOAJ
collection	DOAJ
language	DE EN FR IT
topic	budget, revenue, expenditure, effectiveness, financial management Business HF5001-6182 Finance HG1-9999
spellingShingle	budget, revenue, expenditure, effectiveness, financial management Business HF5001-6182 Finance HG1-9999 Margareta Făgădar (Ghişa) Claudiu – Florin Deac TRENDS IN THE PRESENTATION OF BUDGET INFORMATION IN ROMANIAN FINANCIAL STATEMENTS
description	The country's general economic development links public finances with the state, which needs financing, as they are a major concern for specialists in the field. The budget has objectively established itself as an appropriate and indispensable support for the establishment and rational management of public financial activities. A budget provides an overview of resources and how they are redistributed to achieve organizational objectives. Although the need for a system of programming and highlighting revenue and expenditure to support the implementation of specific activities and the dimensioning of their effectiveness is recognized, it is considered that this need is more pressing for public activities. As a financial management tool for strategic budgetary planning, best practices in the field of planning, and public financial management are strengthened, the public budget ends each year with the approval of the general account of its implementation. Romania is actively involved in the modernization of public sector financial management, thus it has managed to implement a well-functioning it service for reporting the financial statements of public institutions, which facilitates the collection of information needed for EU-level reporting. The implementation of this system at national level results in the discipline of the budget institutions and in full transparency as regards the budget used and how this budget has been spent. The aim of this work is to present, through an exploratory approach, the temptations in the presentation of budget information in the Romanian financial statements. Planning a realistic budget ensures optimal allocation of state resources, the achievement of political priorities, and involves only an extension of the time horizon in the preparation of the public financial plans, but also an economic focus and efficiency in the management of public resources. Responsible financial and budgetary management generates efficiency, effectiveness and performance in the design and implementation of balanced budgets for the functioning and development of the administrative capacity of public administration structures.
format	article
author	Margareta Făgădar (Ghişa) Claudiu – Florin Deac
author_facet	Margareta Făgădar (Ghişa) Claudiu – Florin Deac
author_sort	Margareta Făgădar (Ghişa)
title	TRENDS IN THE PRESENTATION OF BUDGET INFORMATION IN ROMANIAN FINANCIAL STATEMENTS
title_short	TRENDS IN THE PRESENTATION OF BUDGET INFORMATION IN ROMANIAN FINANCIAL STATEMENTS
title_full	TRENDS IN THE PRESENTATION OF BUDGET INFORMATION IN ROMANIAN FINANCIAL STATEMENTS
title_fullStr	TRENDS IN THE PRESENTATION OF BUDGET INFORMATION IN ROMANIAN FINANCIAL STATEMENTS
title_full_unstemmed	TRENDS IN THE PRESENTATION OF BUDGET INFORMATION IN ROMANIAN FINANCIAL STATEMENTS
title_sort	trends in the presentation of budget information in romanian financial statements
publisher	University of Oradea
publishDate	2021
url	https://doaj.org/article/520bc3d8eec4485096c5ddd12ab62b50
work_keys_str_mv	AT margaretafagadarghisa trendsinthepresentationofbudgetinformationinromanianfinancialstatements AT claudiuflorindeac trendsinthepresentationofbudgetinformationinromanianfinancialstatements
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TRENDS IN THE PRESENTATION OF BUDGET INFORMATION IN ROMANIAN FINANCIAL STATEMENTS

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