ACCOUNTING PRACTICES REGARDING THE MEANS OF OPERATION WITH CASH FLOWS

Ancuța-Anisia Chelba () and Laurențiu Anisie ()
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Ancuța-Anisia Chelba: Stefan cel Mare University of Suceava, 720229, Romania
Laurențiu Anisie: Stefan cel Mare University of Suceava, 720229, Romania

European Journal of Accounting, Finance & Business, 2020, vol. 13, issue 23, 42-51

Abstract: In modern market economies, economic agents have a variety of methods to make payments. Thus, as a rule, they choose the payment instrument they consider appropriate for their needs, from the perspective of the speed of execution of these instruments, the transaction costs, the local characteristics as well as the legal framework that regulates the payment obligations. Another particularly important criterion to consider is that the chosen payment instrument must also be an efficient means of operating and managing the cash flow. In this context, the main objective of this article consists in presentation the letter of credit and the cash advance as effective methods of payment, but also as secure means of operating the cash flow. The secondary objectives of this paper are represented by pointing out the accounting practices related to the operations regarding the settlement and justification of the payment instruments mentioned above.

Date: 2020
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