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Economic entities, irrespective of their legal status, show a permanent concern forcommunicating the financial information useful to their environment. Financial communication isachieved through a variety of means, but the most relevant and credible instruments are the annualfinancial statements. Annual financial statements are synthetic documents used to provide information on thefinancial position and performance of an economic entity. The balance sheet is an important component of the annual financial statements and is used asan accounting instrument that reflects the entity's patrimony and the results of its activity during afinancial year. The new accounting regulations consider the balance sheet a synthetic instrument thatsynthesizes the financial position of an economic entity, that is to say the balance sheet gives a trueimage of the entity’s entire patrimony at a given moment.

The institutional funding is a major source of funding for the public universities in Romania, reason why its allocating mechanism is particularly significant. Romanian higher education funding has always been a sore spot and a highly controversial topic of debate for both members of the political class and of the civil society. For a long time they have been searching for the best solutions regarding the university funding, as a key lever for shaping and supporting a high quality academic education system. In this context, through this paper we propose to highlight the current mechanism for allocating the institutional funding to public universities in our country. Structurally, the paper begins with exposing the competences for the budgetary funding and the structure of the institutional funding for universities presentation, after which it focuses on the current model of allocating basic and additional financing. The end is intended to the conclusions, through which we aim to capture the impact of the state decisions regarding the funding methodology on academic education.

The theme of our research is the ways of keeping accounting entities that are the object of the provision of services in the accounting profession. This paper aims to achieve a parallel between the ways of organizing financial records - accounting provided by freelancers and companies with activity in the financial - accounting. The first step in our scientific research is to establish objectives chosen area of scientific knowledge. Our scientific approach seeks to explain through a thorough and detailed approach as different sides (conceptual and practical) looking projections of accounting issues related to regulatory developments and practices in the field. This paper addresses various concepts, accounting treatments, and books and accounting documents used both freelancers in providing accounting services and legal persons authorized accounting profession. In terms of methodology and research perspective, the whole scientific approach combined with quantitative and qualitative research theoretical perspective (descriptive-conceptual) with practice perspective (empirical) analyzing the main contributions of various authors (Romanian and foreign) to knowledge in the field. Following the survey believe that the amendments to the national legislation will support entities providing accounting services, by cutting red tape on Administrative Burdens, and consequently will increase profitability and increase service quality.

Although pan-European universities became autonomous institutions, their governance structure is still organized under the laws of each state, which expressly states the functions and management structures together with their attributions. For the past two years, the Romanian academic environment experienced a consistent reform. The old ground of the educative system was reinforced by the new Law of National Education which represented, for our country, the starting of the modernization of the academic education. By modifying the regulation framework, certain key-objectives were envisaged, such as: the modernization of higher education institutions management, reinforcing university autonomy and the public liability, insuring quality in academic education, enforcing measures for stating university ethics, competition financing, supporting performant private education, developing trans-borders cooperation, both at the Community level and globally. In the university management, the changes followed: a review of governance structures and leaving behind the traditional self-governance model, focusing on the new models, which re-distribute the decision making power and responsibilities between stakeholders, internal and external. Now, Romanian academic education can be found in the middle of the crossroad since the reform is not completed but must go on in order to improve educational results.

Knowledge society assigns to the higher education an essential role, fully recognized both at EU level and globally. One of the latest challenges in the field of academic education aimed at reconsidering the role of universities in the society, together with improving and reshaping their boards’ organization, which means rethinking their internal order by optimizing the organization at all levels, but also by effectively coordinating the funding, administration and resources, education and research management. It seems that the optimal solution is given by the new paradigm, the governance, as an alternative model management system for higher education institutions. The governance is one of the most current approaches in the field and addresses issues related both to higher education institutions and State authorities involved in University education. A review of the university management systems on grounds of the model of corporate governance is a challenging topic of debate by the fact that currently and internally, the concept of governance in the higher education system is still considered difficult to understand and abstract, and its related issues and implications are rather complex and insufficiently treated, discussed and explained by the professional works and publications.

The annual financial situations represent the main source of information regarding the financial situation andthe performance of any entity. The public character of the financial situations allows the presentation of theinformation to both the internal users and to the stakeholders too. This piece of information refers to the financialdiagnosis of the entity , the evolution in time and space (as the reports are written and designed for each stage) of thepatrimonial elements presented in the balance sheet, the evolution of the income, expenses and the results mentioned inthe profit and loss account.The stakeholders in the private sector (shareholders, investors, clients, suppliers, creditors, banking financialinstitutions) and those in the private sector (government, central and local administration) analyze the financialsituations published, in a simplified s form, in the Official Monitor before taking any decisions.The general research field of this paper refers to the presentation of the role and structure of the financialsituations as well as a contrastive analysis of the annual financial situations realized by small and medium-sizedcompanies as compared to the one realized by bigger companies.The authors use the theoretical approach to present the structure of the annual financial situations and to provetheir importance in the process of Europeanization and globalization of the economy. The empirical approach has beenchosen in order to compare the two categories of annual financial situations established according to different criteriasuch as size and national legislation.