IDEAS home Printed from
   My bibliography  Save this article

Existence crises of actual financial management systems


  • SVASTA Mihai

    () (Association for Management Consultants from Romania)


The present financial management systems reflects only partially the economic reality and they are no longer able to act as an instrument for the management. It is absurd that an economy populated by business models based on 21st century technology to use financial management systems based mainly on the same principles formalised by Luca Paciolli in 1494. Therefore, one of the causes of the current economic crisis could be the lack of coordination between the evolution of the business models and the development of new financial management models used by companies, state and investors. The present financial management systems facilitate the existence of grey or even black bookkeeping systems, tax evasion with the help of fiscal paradises, and financial shenanigans aiming to optimise, barely illegal, the financial situations.

Suggested Citation

  • SVASTA Mihai, 2009. "Existence crises of actual financial management systems," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(1 Special), pages 23-28, July.
  • Handle: RePEc:rom:econmn:v:12:y:2009:i:1special:p:23-28

    Download full text from publisher

    File URL:
    Download Restriction: no

    More about this item


    financial management system; information for management; economic crisis; poor coordination; business models;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • P43 - Economic Systems - - Other Economic Systems - - - Finance; Public Finance
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rom:econmn:v:12:y:2009:i:1special:p:23-28. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ciocoiu Nadia Carmen). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.