Plenary Lecture

Flow-based Economic Operations Representation

Professor Lucian Patrascu
Department of Economics,
"George Baritiu" University
Brasov
ROMANIA
E-mail: patrasculuccian@yahoo.com

Abstract: The profit and loss account shows whether a company is operating or not, as far as obtaining a positive result out of its activity is concerned, but does not allow the provision of information related to actual flows conferring trust from non-specialists point of view: entry and exit of cash availabilities as a result of the activity development.
The result contoured by the profit and loss account relies on standardized principles and methods, on conventions originating from the accrual accounting and therefore, we can face one case in which two companies with the same availabilities and similar employment thereof, may obtain different results, because of various methods of evaluation of revenues and charges.
The variety and complexity of issues related to the good management of the company’s treasury create a wide field of analysis and debate for specialists in the field, especially because this topic practically relates to the activities conducted by all economic agents. Most of the users of accounting information are interested in the fluidity of the company’s business and especially in its ability to provide a suitable rotation speed for liquidities.
The accounting information provided by accrual accounting and focused mainly on profit is unable to provide a suitable response to such request.
This is how the need to operate the accounting information is necessary, which provides the treasury flow knowledge as correspondent of patrimonial flow transiting the company and with immediate impact on liquidities.
The cash flow statement discloses the flow statement which, as a difference from the profit and loss account, provides a projection over the actual possibilities of the company to financially support and face the payment of debts with actually available resources and not with future resources.

Brief Biography of the Speaker:
Academic Positions:
•Assistant Professor, Department of Economics, „George Baritiu” University of Brasov, Romania.
Scientific activity:
•He has published a total of 2 books. Has participated in 3 national research projects, has published 25 various papers in conference proceedings or refereed journals (7 papers have been published abroad), has participated with 3 papers at the WSEAS Conferences.
Studies:
•Ph.D. in Economy, Academy of Economic Studies of Bucharest, (2008);
•Licensed in Economy, Faculty Economic Sciences, specialization Accounting and Management
Information Systems, at the „George Baritiu” University of Brasov, Romania (2004);
•Licensed in Law, Faculty of Law, specialization Law, at the „George Baritiu” University of Brasov, Romania(2007);
Experience:
•Assistant Professor, Department of Economics at „George Baritiu” University of Brasov, Romania;
•Financial accounting manager at „George Baritiu” University of Brasov, Romania (2004-2006)