The art of making good decisions based on numbers...

How important is, for any manager, the financial information in decision making? What is the budgets’ role and budgeting activity? What are the cash flow or the profit and loss account (P&L)? What is cost representing and how important are all these in a decision making process? How do we interpret the financial analysis indicators?

Even though economic-financial reports furnished by financial departments are considered to be important tools for decision making and company’s management, for a non-financial is hard to efficiently use them under the circumstance that basis principles and used terms are almost unknown. It is also possible for managers to think that financial information is just the ompany’s obligation when it comes to relating with state’s fiscal institutions. But it's not like that.  read more»

The summer brouth a new Human Resources Manager in Ascent Group's team. Starting in mid-June, Florina Băbău joined the Ascent Group team to coordinate the human resources activity of the group.

Florina is a graduate of the Faculty of Economic Sciences of the Western University of Timisoara and holds numerous certifications in the field of management and human resources. Being very passionate about learning and discovering new ways of developing people, Florina is currently continuing her education at the School of Psychology and Psychodrama.

Professionally, Florina has over 15 years of experience in human resources, both in multinational and local companies, in various roles such as: Improvement Coordinator, and subsequently Training & Development Coordinator for Leoni Wiring Systems Arad, HR Manager within ARED group, or HR Recruitment & People Development at Coficab Eastern Europe. read more»

On the 21^st of June the Emergency Ordinate number 43/2019 came into force. It brings significant changes to the regulations that have previously governed the construction industry.

Briefly, the changes brought by the EO 43/2019 are based on four pillars. These have implications for the minimum wage in the industry, on the one hand, and for the necessary conditions employers and employees need to fulfil in order to enjoy the financial benefits, on the other.

 I. Minimum wage.

For the period comprised between 01.01.2020 and 31.12.2028, the minimum wage in the construction industry will be 3.000 RON, for a normal work schedule averaging around 167,333 hours per month. This will represent, on average, 17. 938 RON per hour.  read more»

Ascent Group continues it's expansion plans, and July 2019 marks the opening of a new office, in  Piatra Neamț.

The expansion decision is based both on Ascent Group's strategic plan to be present in all Romanian's regions and the business potential of Romania's North-Eastern region, which is growing mainly on the IT&C serivces and shared services centers. An important role in the office opening decision played also identifiction of the right local partner.  read more»

Starting with January 2019, the gross minimum wage will increase and will be differentiated according to the level of education.

The Government approved this week an Emergency Ordinance amending a number of normative acts, including the Labor Code - Law no. 53/2003, and Law no. 279/2005 on apprenticeship at the workplace. Amendments to the Labor Code will come into force on 1st January 2019 and aim to create the legal framework for establishing the minimum gross national salary guaranteed in pay by reference to the criteria for the level of studies.

Initially, the change envisaged differentiation according to the seniority in work, but in the end the Government dropped it, keeping only differentiation according to the level of education. read more»

In case you have heard of Service Design and Design Thinking but do not know exactly what they are, this article is for you.

Have you ever entered a store, hotel or restaurant and felt that something was not entirely how it is supposed to be? That what you are looking for is not in the right place, that it takes too long for you to be served, or that many of the employees’ actions or operations are useless? Have you ever accessed a certain website and felt it was very complicated to find what you were looking for, doing unnecessary mouse movements and countless clicks until you found the button you needed

Have you ever felt that the people inside your organization who provide you with internal services (legal, HR, purchasing, ICT, etc.) do not always respond promptly and efficiently enough to your needs? Or that your whole experience in the organization is far from desired? read more»

About entrepreneurial attitude and the success stories of the great entrepreneurs 

Ascent Group has the unique opportunity to invite you to meet, in Romania - Bucharest, Larry Farrell, the number 1 worldwide expert and a true entrepreneurial guru, in a half-day seminar with the topic "The Entrepreneurial Attitude".

The event, organised in partnership with Exact and KissFM, is based on Larry Farrell's over 25 years experience in researching and teaching development practices for entrepreneurs, ranging to the new findings exemplified in his latest book, "The Entreprenurial Attitude". His experience is sustained by more than 5 million entrepreneurship course participants around the world in the seminars held by The Farrell Company. read more»

The law permitting the payment of dividends during the year was voted. According to the principle "autumn is a time of harvest ", perhaps from September or October this year we will already be able to reap the "fruits" of the business.

On July 12, the normative act (Law 163/2018) amending the dividend payment procedure was published, which allowes the distribution of the profit between the companies' shareholders also quarterly, within the limit of the net profit realized after the preliminary filing of an interim financial statement . read more»

The European Parliament and the Council of Europe adopted on 27 April 2016 the EU2016 / 679 Regulation on the protection of individuals with regard to the processing of personal data. Its provisions will be applicable in all Member States of the European Union as of 25 May 2018. read more»