INCREASE IN THE ROLE OF THE FINANCIAL SYNTHESIS REPORTS FOR ACCESSION OF THE EUROPEAN STRUCTURAL FUNDS
European integration is supported through important financial resources in order to sustain the investment effort for aligning the business infrastructure and increase in the business competitiveness in order to fulfill the European Union standards. The financial management, a basic component of the general management, has as scope to realize complex financial analysis in order to substantiate the decisions for investments and financing which should ensure the maximization of results, ensuring also the elaboration of the project budget as an essential document in the identification of the needs for resources and for obtaining the non-reimbursable financial sources. An essential role in the investment decision making, having as support European funding, is realized by the financial-accounting reporting documents such as balance sheet, profit and loss account, table of the treasury flows, which together with a realistic established actualization rate ensures the relevance and efficiency of the financial indicators: Net present Value(NPV), Internal Rate of Return(IRR), the investment recovery period, the benefit/cost ratio. This study has as its goal to realize a critical analysis over the main simulation methods and techniques for forecasting annual return based on its growth rate, which should ensure the success of the implementation and operation of an investment realized through European structural funds respecting also the requirements for minimization of risks. In this research it is shown the importance of proper generation/modeling of the annual turnover in an investment project. Several methods were presented and case study was realized. Since the annual turnover constitutes the basis for the entire financial analysis it is very important that a realistic growth rate is used. Otherwise the provisions within the financial analysis of the investment (including CBA), the project implementation strategy and later the plan for the utilization of the newly realized investment might prove difficult to be fulfilled.
The Usefulness of Financial Statements in Making Financial Diagnosis
Our research aims to develop an analysis of the usefulness of financial statements and financial investment in making the diagnosis. Financial analysis is by definition an activity that performance condition is diagnosed entity of the financial year. Financial analysis shall be determined by strengths and weaknesses of financial management based on which will underpin future strategy of the entity to maintain and develop it into a competitive environment. Results of financial analysis depends on the quality, accuracy, relevance and effectiveness of economic information collected and processed. The primary sources of information for financial analysis are the financial statements, which are considered as raw material in the analysis.
Percussion marks on bone surfaces as a new diagnostic of hominid behaviour
Since stone tool cut marks and carnivore tooth marks were first described systematically on Plio-Pleistocene archaeological bone1,2, bone surface modification has played a prominent role in interpreting early archaeological site formation and hominid behaviour3–15. Here we introduce a new class of bone surface modification, which we call percussion marks. Percussion marks were produced during experimental breakage of marrow bones, and occur as pits or grooves impressed on a bone's surface by natural protrusions on the granitic hammerstone and anvil used. Although percussion marks can superficially mimic carnivore tooth marks, they nonetheless are closely associated with hammerstone impact notches and show consistent micromorphological features which distinguish them from tooth marks and other classes of bone surface modification. Given indications of prehistoric hammer-stone breakage of marrow bones1,7, an awareness of percussion marks is critical for accurately identifying the biological agents of bone modification at archaeological sites and provides a new diagnostic of carcass processing by hominids.