Abstract
In an economic environment with a perpetually increasing number and complexity of challenges, financial sustainability must be part of the development strategy of any company, emphasizing the good management of the patrimonial resources on the long term. The financial sustainability of a company is actually the ability to generate value with the help of a correct balance between investments and sources of financing. Simultaneously, within a company, the emphasis will be on the vigor of the accounting principle of continuity in long-term operations. Therefore, at the level of each company, managers are faced with challenges related to managerial decisions that would ensure financial sustainability. In Romania most of these companies are financed by bank loans, which leads to a lack of liquidity, which in turn triggers an increased risk of inability to make payments. In a company, financing sources have a strong impact on the liquidity risk, and, therefore, the higher the share of the equity in the company’s total financing sources, the lower the financial risk. The results of our research are relevant for providing useful information in managing the activities of companies. wineries and more. Correct and timely information can help a company to optimize its resources and, in addition, to perform a correct analysis. The aim of our research was to make a diagnosis based on documentation of financial sustainability and the factors that influence it. The case study was conducted at a wine company in Tulcea County, Romania, namely SC Alcovin SRL Măcin.
Highlights
Starting from the problems highlighted in specialty literature on the analysis of financial sustainability, the authors made a coherent diagnosis of financial sustainability as a starting point in making future management decisions by accountability factors in within SC Alcovin SRL Macin, Tulcea
Based on the financial statements provided by the company under study, the authors analyzed the main indicators needed to highlight financial sustainability
Within the analysis of the main indicators regarding the financial sustainability, reference is made to the liquidity indices of the company; as a result of the the calculations performed, the following observations can be made
Summary
The British economist John Elkington tried to find a way for businesses to grow according to the principles of sustainability. He proposed a concept which he called the "triple bottom line", through which business people had to approach their activity from a triple perspective, namely, that of risks to profit, social risks to people and environmental risks - the impact on the planet. Due to the great financial problems that appeared in the first decade of the 21st century, the principles of financial management were reconsidered [4,5,6]. But the new concept of financial sustainability tried to put an equality sign between benefits and risks in making financial decisions [7] The policies regarding the risk management practiced did not give the expected results. but the new concept of financial sustainability tried to put an equality sign between benefits and risks in making financial decisions [7]
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