The paper focuses on the connection between financial results and corporate risk in the European Industrial Machinery & Equipment industry during the period 2020-2024. The analysis will be conducted using the Refinitiv Eikon database, taking into consideration a representative sample of industrial corporations from Eastern, Northern, Southern, and Western Europe, with special attention paid to the Romanian market. The study examined the relationship between the financial performance ratios (ROA, ROE, and EBITDA Margin) and the key financial risk ratios (liquidity ratios, Financial Leverage Ratio, and Z-score) to establish the association between profitability and financial risk. The empirical study utilized descriptive statistics and correlation coefficients.
The results highlight a significant difference in performance dynamics among regions, with better recovery patterns for Southern and Western Europe and more volatility for Northern Europe following the pandemic. A significant volatility level is shown for Romania, along with a trend of enhancement of financial stability beginning from 2021. The Z-score has a positive correlation with performance, and a weak negative correlation is shown for liquidity ratios with profitability, thereby confirming the liquidity-profitability trade-off hypothesis. Concluding, this analysis finds that financial performance in the industrial sector in Europe is more closely tied to financial stability than to either liquidity or leverage. These findings are important to understand in terms of financial risk and performance management in emerging markets in Europe.

The article investigates the relationship between financial literacy, investment behaviour and living standards in selected Eastern European member states of the European Union. The analysis combines a cross-country descriptive comparative approach with econometric techniques, including Ordinary Least Squares (OLS) regressions and an Instrumental Variables/ Two-Stage Least Squares (IV/2SLS) framework, in order to address the potential endogeneity between investment participation and income. Financial literacy is measured using a composite indicator derived from Eurobarometer 525 (2023), based on the proportion of respondents achieving a high financial literacy score. Investment behaviour is captured through investment participation, proxied by the share of equity and investment fund holdings in the household financial assets. Living standards are assessed using three indicators: median disposable income adjusted for purchasing power parity (PPP), income inequality measured by the Gini coefficient and the risk-of-poverty rate over the period 2010-2024. The econometric results reveal a positive and statistically significant association between financial literacy and key welfare indicators, while the direct effect of investment participation appears weaker in baseline specifications. In the instrumental variables framework, where investment participation is instrumented to mitigate potential reverse causality, the estimated impact on income remains positive but is more moderate in magnitude. Although the relatively small number of observations represents a limitation and warrants cautious interpretation, the findings highlight the important role of financial literacy in shaping investment behaviour and contributing to improved economic well-being. These results offer relevant insights for policymakers in countries characterized by lower living standards and comparatively low levels of financial literacy.

The paper provides a synthesis of recent literature on the accounting profession, bringing together ideas from the field of professional ethics, corporate governance and professional responsibility. It shows how digitalization and sustainability requirements are reshaping both the work and the professional identity of contemporary accountants. The paper aims to propose a conceptual model that goes beyond fragmented descriptions of the accountant’s current role. Methodologically, we carefully reviewed the literature, extracting recurring concepts and grouping them inductively into three dimensions: normative (standards, codes of ethics and regulations), functional (assurance activities, internal control, consultancy, Environmental, Social and Governance (ESG) reporting, and the responsible use of artificial intelligence) and identity-related (values, professional identity, and the social role of accounting work). The results show how compliance pressures, technology and societal expectations are transforming the profession from task-oriented execution to a pronounced advisory role. The paper also explains how governance mechanisms rely on accounting to enhance transparency and to support sustainability objectives, for example under the Corporate Sustainability Reporting Directive (CSRD), where accountants coordinate the collection and validation of ESG indicators across internal and external processes. The contribution of the paper lies in the creation of a conceptual model and in its implications for education, standard setting, and organizational design.

With the digitalization of the decision-making process being a relatively new topic, the specialized literature is still in the process of formation, setting trends and highlighting the advantages and risks that come with it. Like any new field of research, this one also faces a lack of studies as well as limited interest among researchers in exploring the subject. Moreover, in emerging areas, the benefits that a new practice can bring or the dangers it can cause are often among the first and most relevant questions that arise and are analysed. Therefore, the central objective of the paper appears, namely, to examine trends in the specialized literature regarding the advantages and risks of the digitalization the decision-making process. Thus, the paper will focus on conducting and comparing two bibliometric analyses that reflect the two central contexts of the research and will aim to confirm the novelty of the subject, as well as to identify the area of higher interest between the two. Regarding the methodology, the analyses will be carried out using data extracted from the Web of Science Core Collection and will be processed mainly via VOSviewer software. The research results may be used in the future as reference points for a more updated literary base, but at the same time, they will also serve as identifiers of current directions.

This article aims to analyze the negative trends in the financial reporting of Romanian listed companies during the period 2019–2023, marked by successive systemic crises (the COVID-19 pandemic, the energy crisis, and geopolitical instability). The main objectives of the research are to identify changes in key financial performance indicators, to assess the evolution of provisioning behavior, and to examine how risk perceptions are reflected in corporate financial disclosures under conditions of heightened uncertainty.
The study employs a longitudinal research design based on a mixed quantitative–qualitative methodology. Quantitative data were collected manually from audited annual financial statements of five companies listed on the Bucharest Stock Exchange, operating in strategic sectors of the Romanian economy (energy, banking, telecommunications, heavy industry, and e-commerce). The analyzed indicators include net profitability, provisions, equity, and debt ratios, covering the period 2019–2023. Qualitative data were extracted from the risk and uncertainty disclosures included in the explanatory notes of the annual reports.
The data were processed using comparative and descriptive analysis, with results consolidated in a multi-year comparative table and complemented by graphical representations to highlight financial dynamics over time. The findings reveal a significant decline in profitability during the crisis peak (2020), accompanied by a substantial increase in provisions, indicating a conservative and anticipatory financial reporting behavior. While some companies demonstrated post-crisis recovery, others exhibited persistent structural vulnerabilities, particularly in terms of leverage.
Overall, the results suggest that financial reporting during crisis periods evolves toward greater prudence and enhanced risk disclosure, reflecting both economic pressures and managerial responses to uncertainty. The study contributes empirical evidence on crisis-induced conservatism in financial reporting and highlights the importance of integrating quantitative performance analysis with qualitative risk assessment.

This paper examines how cloud accounting can contribute to the modernization of management strategies in the field of public order and national security. It analyzes the benefits of this technology in enhancing transparency, accelerating decision-making processes, and improving resource allocation, with a direct impact on the performance and competitiveness of both public and private entities. Cloud-based systems enhance the traceability of operations and provide real-time financial analytics, thereby supporting data-driven decision-making. In the public sector, digitalization is framed as a fundamental condition for institutional accountability and operational security, highlighting the necessity of robust governance and cybersecurity policies. The study also emphasizes the importance of proactive managerial approaches oriented toward prevention, legitimacy, and effective conflict management. To strengthen the theoretical framework, the paper proposes a conceptual case study illustrating how a public security institution could integrate cloud accounting solutions to improve transparency, financial control, and strategic resource allocation. This perspective supports the authors’ hypothesis that cloud technologies can simultaneously enhance economic performance and national security within an integrated managerial framework grounded in efficiency, coordination, and cybersecurity compliance.

Non-financial reporting is an essential tool for corporate transparency, but its credibility is often compromised by greenwashing. This paper presents a systematic literature review (SLR) of 39 academic articles indexed in the Web of Science Core Collection (2000–2025), conducted in accordance with the PRISMA protocol. The review highlights the predominance of quantitative research designs, complemented by qualitative and mixed approaches, and identifies legitimacy theory and stakeholder theory as the most frequently employed conceptual frameworks. The findings show that greenwashing undermines the informational value of non-financial reporting and stakeholder trust, while simultaneously stimulating the development of more structured disclosure frameworks and analytical methodologies. The study contributes by systematizing fragmented literature, identifying theoretical, methodological, and geographical gaps, and outlining directions for improving the credibility of non-financial reporting. The analysis is subject to limitations related to database selection and access criteria, which are explicitly acknowledged.

Enterprise Resource Planning (ERP) systems and Artificial Intelligence (AI) are revolutionizing the accounting profession, increasing efficiency, accuracy, and decision-making capabilities. This article explores the transformative impact of ERP systems and AI solutions, which serve to integrate diverse business processes, including finance, supply chain, and human resources. Centralizing data and automating routine tasks with ERP systems allows accountants to focus on strategic activities. These technologies facilitate advanced data analytics, predictive modelling, and real-time reporting, allowing accountants to gain insights from large amounts of data. The ability to analyse data in real time enables more informed decision-making, allowing businesses to capitalize on emerging opportunities. The article aims to highlight the importance of technology in modern financial practices, but also serves as a benchmark for accounting professionals to adapt and thrive in this digital age. By harnessing the power of these technologies, accountants can position themselves as strategic partners in their organizations, driving innovation and contributing to the overall success of the business. The results obtained reflect a clear trend of increasing academic interest in this topic over the past two decades, marking a paradigm shift in the way accounting functions are understood and practiced in a digitalized and increasingly automated environment.

This paper examines the role of Accounting Information Systems (AIS) in the digital age, focusing on how these systems enhance organizational efficiency, transparency, and decision-making. The objective of the study is to synthesise and compare empirical evidence regarding the determinants of AIS effectiveness and their impact on organizational performance, with particular emphasis on Small and Medium-Sized Enterprises (SMEs). The research adopts a structured narrative literature review with a comparative analytical approach, drawing on empirical studies conducted in Asia, Europe, and North America. The reviewed studies are primarily based on survey data analyzed using advanced statistical techniques such as PLS-SEM, AMOS, and SPSS. The analysis highlights key determinants of AIS success, including system quality, information quality, and user satisfaction, as well as the growing contribution of emerging technologies such as artificial intelligence and blockchain in enhancing data integrity and reducing fraud risks. The findings indicate that effective AIS implementation significantly improves financial reporting accuracy, operational performance, and competitive advantage. The study concludes that sustained investment in digital skills and technological infrastructure is essential for organizations seeking to adapt successfully to the digital economy.

Public universities manage substantial public funds and must maintain high standards of transparency and accountability. This study examines how digital financial reporting and real-time technologies can improve financial transparency, stakeholder communication, and accountability in higher education, focusing on Romanian public universities. It integrates a literature review with analysis of financial reporting practices at nine major Romanian universities (2021–2024) to evaluate current practices and identify challenges such as thin budget margins and communication gaps. Given these challenges, the research explores how modern digital tools can enhance reporting timeliness, accuracy, and stakeholder trust in the public sector. The findings have significant implications for multiple stakeholders. University management and policymakers are advised to invest in modern financial systems and staff training to strengthen transparency and oversight. Aligning reporting practices with international standards like IPSAS is shown to improve comparability and credibility, aiding regulators and auditors in evaluating institutional performance. Real-time digital reporting can turn financial data into a strategic asset, informing policy decisions, guiding university leadership, and reassuring students and the public that funds are used responsibly. For academics and researchers, the study broadens the discourse on digital transformation in public sector accounting and suggests avenues for further research on stakeholder engagement with financial disclosures. This study’s originality lies in addressing an underexplored context, digital financial reporting in Romanian public universities, through an integrative approach that combines literature review with empirical analysis. Its key contribution is highlighting the gap between basic transparency compliance and effective stakeholder communication and demonstrating how real-time digital tools can bridge this gap in practice. By aligning insights with international accounting standards and national regulations, the paper provides unique perspectives for the public sector accounting community and higher education administrators. It adds value by offering actionable recommendations to enhance accountability through digital innovation in a context where such guidance has been scarce.