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Possibilities of the Development of the Application of Financial Instruments in the Accounting Systems

Author

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  • Traian Cristin Nicolae

    („Ovidius” University of Constanta, Faculty of Economic Sciences, Romania)

Abstract

The purpose of this research consists in the schematic presentation of the possibilities of implementing new financial instruments under the conditions of the use of advanced information technology tools. The progress of computer technologies based on artificial intelligence and the use of new hardware devices open opportunities for the instrumentalization of financing solutions in accounting. The present offers possibilities for economic entities to finance themselves quickly and at low costs, reducing the time needed to access additional monetary liquidity, compared to traditional solutions. Alternatives to classic bank financing are emerging. The use of alternative ebanking IT solutions is an important incentive for financing newly established businesses as well as existing ones. It must be pointed out the need for economic entities to invest heavily to equip themselves with new hardware and software tools. It's time for changes in approach regarding the implementation of information systems, of financial and accounting records.

Suggested Citation

  • Traian Cristin Nicolae, 2023. "Possibilities of the Development of the Application of Financial Instruments in the Accounting Systems," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 1007-1013, August.
    • Handle: RePEc:ovi:oviste:v:xxiii:y:2023:i:1:p:1007-1013
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    More about this item

    Keywords

    financial solutions; accounting; tehnologies;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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