The Correlation between the Conceptual System of the Political Economy and that of the Accountancy – a Solution for Reducing the Risks Connected to the Administration Activities in any Stage of the Economic

Aurelian Virgil Băluţă
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Aurelian Virgil Băluţă: “Spiru Haret” University, Bucharest

Theoretical and Applied Economics, 2011, vol. XVIII(2011), issue 7(560), 155-164

Abstract: Some mistakes of big financial institutions caused the crise from 2008: the correlation for a long term balance in accordance with economical theory and accounting practice were not applied, not enough controll of financial flows, wrong management of very important companies, unuse of actuarial tools. Provisions for many kind of clients and the amount of assets were not bookkeept in acordance with IAS-IFRS system. It is a international collective interst about accounting of big financial institutions that manage an important part of many from international market. The analysis of the profitability-cost correlation in the development strategy of the company as part of a good management was not applied in accordance with economical theory. The fraud, including accounting fraud, was present in big institutions.

Keywords: accounting; political economy; crise; fraud; financial institution. (search for similar items in EconPapers)
Date: 2011
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