The corporate governance of Romanian SMEs states that these companies have been less and less able to generate performance over the last few years. An average number of 1.273 SMEs per year have been included in the study, coming from all the eight local development regions of Romania. The data covers a period of 14 financial years, between 2005 and 2018. The findings showed, after statistical computations using regression models, that the performance of Romanian SMEs depended on the level of external managerial consultancy that corporate governance received from specialized companies and on the increasing level of wages. Given the high flexibility potential of SMEs, these choices are seen as tailored actions and strategies to compete successfully and support sustainable performance in the local context where its trend is downward. Moreover, the act of achieving performance at present is upheld by the performance attained in previous financial years. The impact of these factors could be established as a matter of priority in a long-term approach, for a time lag of up to 3 years. Moreover, the performance of companies covering all the local development regions is influenced only to a small degree by taxation levels, by the frequency of tax supervision performed by government institutions, by the capacity of corporate governance to be up to date with legislative change or by the self-financing of the activity conducted by the companies.

This paper approaches from a historical perspective the development of the accounting profession in Romania. We aim to present, through an interpretivism methodological approach, using descriptive narrative research, the phenomena of the accounting profession in Romania and its evolution throughout history. The paper captures various stages of development, but also elements that have contributed to the development of this profession in Romania, and the role it had throughout time and the role that it fulfills today. The article highlights the fact that the development of higher education in economics was and is still essential in the existence and development of the accounting profession. By fulfilling such objectives and such performance standards, it will be possible to achieve the goal of this professional organization in terms of adapting quickly and efficiently to changes in the socio-economic environment, ensuring a high level of professionalism of members who will be constantly trained for the future, providing strategic consulting for the business environment, and finally affiliation to the position of reliable business partners. However, if we think about the way the accountant was perceived in the 19th century and the status he benefits in contemporary society, we can say with certainty that it was a battle won. Article history: Received: November 27, 2023; Reviewed: December 10, 2023; Accepted: December 17, 2023; Available online: December 25, 2023; Available print: December 30, 2023. JEL classification: M40, M41, N93, N94

Real Earnings Management (REM) represents a significant area of research within financial studies, having been thoroughly explored over time alongside accrual earnings management techniques as part of the broader issue of intentional financial reporting manipulation. This study analyses 339 articles published in journals indexed by the Web of Science (WOS) database from 2006 to 2024, aiming to provide a comprehensive review of the key findings and emerging research trends in this field. The results reveal that REM is becoming increasingly pertinent, with nearly 40% of the literature on this topic published in the past three years (2022-2024). The United States emerges as the leading contributor to research in this area. We conclude that REM is closely associated with accrual earnings management, corporate governance, and auditing practices. Furthermore, the manipulation of accounting choices in various institutional contexts, particularly in Pakistan, China, and India, has gained prominence in recent years. Future research should direct its attention toward REM in emerging markets and family-owned enterprises, as these areas present vital avenues for further exploration. JEL classification: M40, M41 Article History: Received: September 20, 2024; Reviewed: November 25, 2024; Accepted: December 2, 2024; Available online: December 17, 2024.