The Organization of Cash Flow in Romania

1. IntroductionThe cash flow statement proves extremely necessary information to analyze the company's ability to generate future cash flows and cash equivalents. Businesses' cash flows come from summing up: the cash flow from operating activities, investing activities and financing activities.Modern society has created a number of mechanisms to ensure investment orientation, generally in the areas that will produce the most significant results for the investor satisfaction, and to ensure the development. From the accounting approach through the state interest (tax) and/or strict enterprise (survival/growth), it has reached a priority problem of providing information requirements to investors, in order to attract capital to viable and dynamic companies from globalization perspective. Investment decision needs relevant and reliable information expressed in a language that is widely accepted and verified by common procedures from authorized persons. (Petcu, 2009: 479)2. The Position and Role of Treasury in the Enterprise's Information SystemThe Treasury of an economic unit occupies a central position in the economic information system, because the entire transactions specific to operating cycles, to investing and financing are expressed in value. Treasury is regarded as key information and at the same time objective, because through it the enterprise provides both financing activities and its permanence.In Romania the inclusion of cash flow statement in the financial statements of accounting, along with the balance sheet and profit and loss account, was made by OMF 94/2001, for the approval of accounting regulations harmonized with Directive IV of the European Economic Communities and International Standards of Accounting, and established by Order no. 1.752/2005 for the approving accounting regulations in accordance with European directives. This order was repealed by Order no. 3.055/2009 for approving accounting regulations compliant with Directive IV of the European Economic Community which introduces in the internal practice the general elaboration and presentation framework of financial statements, which in its turn was repealed by Ministry of Finance Order no. 1802 of 29 December 2014 for the approval of accounting regulations on the annual individual and consolidated financial statements.An important component of the financial statements is the statement of cash flows. Disclosure requirements of the cash flow statement are established, as stated above, by the IAS 7, which states that it should provide a basis for assessing the ability of the enterprise to generate cash and cash equivalents, and its needs to use those cash flows.The activity of the company is the result of numerous economic and financial transactions that influence business assets and are expressed through receipts and payments. Therefore, inflows and outflows are generated in and from the heritage unit, so the focus of the analysis of heritage transformations is the notion of liquidity released or used.During its over 25 years of transition, in Romania cash flows have been repeatedly brought into discussion, which most often, in the form of cashflows, were used as a criteria for evaluating a business, a project or an enterprise.Through Government Ordinance no. 13/1995 was made the first attempt to use such information on some measures to accelerate the process of restructuring the autonomous administrations and companies with majority state ownership, strengthening the financial discipline and improvement of settlements in the economy. According to this law, a picture of flow statement was established as an included document in recovery and financial restructuring programs that had to be drawn up by economic agents that were in economic and financial surveillance regime. The picture was based on data from 1994 and included forecasts for the year 1995.According to many experts in the economic field a clear classification must be done between accounting movements and flows, because all flows are accounting movements, while not all accounts movements are cash. …