Abstract: The application of Directive 2013/34/EU of the European Parliament and of the Council on annual financial statements, consolidated financial statements, and related reports of certain types of undertakings required the introduction of some changes in current accounting regulations in Bulgaria. This paper focuses on issues related to applying the new Accountancy Act and some of the contradictions which have arisen as a result.
Abstract: Projects, financed by the operational programmes under the European structural and investment funds, provide funding to individual sectors and activities under condition with the aim to enhance integration, increase the quality of operations and services, develop human resources, and in the long run to improve social, economic and political situation in the European Union Member States. The study clarifies the main problems in accounting for costs in relation to the implementation of these projects in budget organizations in the country. The focus is on regulations on the eligibility of operations and activities in regard to the absorption of the EU financial support.
Abstract: This article researches the contemporary content and restrictive moments regarding documenting in accounting. It analyses and delineates the specific aspects of accounting documentation. It also makes an attempt to highlight the specific characteristics of documenting in accounting, as emphasis is placed on its key role in the reporting process of a company. It also clarifies the leading theoretical and applied significance of documenting as an element of accounting methodology.
Finally, a conclusion is drawn that, despite the constant dynamics and development of social and economic relations, the documenting of accounting transactions and processes is still a reliable source of information about the assets and the activities of a company. This determines the substantiated attempts towards its permanent improvement by building an information system for the accounting unit and is a prerequisite for the construction of an orderly and adequate accounting system for timely and complete encapsulatioin of the assets and the financial state of a company.
Abstract: Regardless of the increasing role of technology, the main factor of each system are people with their qualities and experience. The fact that nowadays the majority of activities related to collecting, summarising and systematizing of information are carried out by information technologies does not diminish the role of individuals in terms of analysing the results, decision-making and developing an overall company strategy.
To stimulate the creativity of their key employees, companies use different methods of financial incentives. The aim of conducting such policy, on one hand, is to increase employees’ motivation to work and at the same time to encourage their long-term involvement in and commitment to the future of the company.
The object of study in this article is the accounting interpretation of some basic approaches (forms) to financial incentives of bank staff.
Abstract: The financial stability of an enterprise is determined by its performance in the reporting period. Its performance (profits) depends not only on the amount of capital available, but mainly on the investment strategy developed, which will involve it in specific business operations in such a way as to generate income to its owner. A human along with the skills, competencies and experience acquired, underlies the development of any strategy.
The purpose of this article is to study the importance of accounting activities orga¬nization in banks and to highlight its significance for obtaining a quality information product.
Abstract: This paper deals with the accounting interpretation of trade receivables for sales made by enterprises in the course of their business. Their nature, functional role, and meaning for economic entities are described in a systematic aspect. Approaches for improving the current and periodical accounting reporting of trade receivables are suggested and supported with relevant arguments. The focus of attention is on providing up-to-date, comprehensive and detailed information on the discussed subjects of accounting, according to their individual behaviour and differentiation and classification criteria set in advance.
Abstract: Unlike Bulgarian accounting theory and practice, global accounting theory and practice treat budgeting and analysis as a whole. The situation in our country in recent years has introduced a new concept of business budgeting. Managers already need to have a plan for the operation of an entity in following and future reporting periods and to link corporate planning and the process of performance assessment. Accounting staff have felt a strong need to set budget indicators and to compare actual performance to these budget indicators. In this way, the concept of "accounting budgeting" has been gradually introduced in our country. It refers to the process of determining the quantity and value of sales, production, costs, investments in non-current tangible and intangible assets, current assets and liabilities, cash receipts and payments and more. The end result, or the so-called product of the budgeting process, is presented on paper in the form of a document named "a budget" (a plan).
Abstract: The IAS adopted in Bulgaria following its accession to the European Union introduced some new terms in the field of accounting, such as “accounting policy”, “accounting estimate”, and “accounting error”. Generally, the indigenous scepticism of professional accountants is an obstacle to their accepting the new knowledge and points of view and subsequently applying them in practice. The aim of this paper is to investigate the possibilities of unifying the professional competence of accountants and auditors in terms of using accounting estimates in financial statements of non-financial enterprises in compliance with the accounting legislation in force.
In order to achieve this aim, the author has tried to outline the different meanings attributed to this term by accountants and auditors in related standards.
Abstract: This study characterises accounting occupational risk by examining its sources. It describes the effects and seeks opportunities to minimise them.
Risk is an integral part of the accounting profession. It has been quite ex-haustively discussed in literature, but in terms of accounting it has not been studied enough – it has not been given enough attention, which makes the topic relevant and significant.
Emphasis is placed on the fact that the activities of an accountant must be in accor¬dance with legislation, while accounting for the specificities of the entity. Whence it follows that they are not only responsible for keeping accounts in accordance with regulatory requirements, but also for the decisions made and the accompanying risk.
Abstract: Rapid advancements in technologies affect all aspects of human activity. Their impact is especially strong on commerce. The popularity of electronic commerce among customers has been growing since mobile devices and the Internet have made the shopping experience easier and faster. On the other hand, e-commerce provides a larger customer base to retailers, since clients are no longer restricted to the location of a physical shop. It also offers better advertising and marketing opportunities. Another advantage is the lack of conventional working hours.
The paper aims at systematizing the major opportunities and regulatory requirements related to starting an online shop. It also answers some of the questions most frequently asked by economic agents and presents the main requirements that they need to meet before starting an online shop. Special attention is paid to some specific moments in terms of documenting, accounting and taxing the activity of an online shop.
Abstract: The present article analyses the prescriptions of accounting stand¬ards ¹ 41 “Agriculture“ and ¹ 2 „Inventories“ for determination and measurement of agricultural produce and the role of the estimates for the formation of the financial result for the period. When those standards are used in the accounting practice some texts, regulating the transformation of the financial result for tax purposes, appear to be contradictory. A specific example given here illustrates the logical sequence of the tax treatment of the differences between the measurements of produce at initial recogni¬tion and at the end of the year.
Abstract: Professional players on the Russian market in microelectronics form temporary partnerships so that they can design and develop microelectronic devices with a certain life cycle. This paper proves that the capacity of such partnerships to develop successfully and to achieve the goals they have set depends on the stages of their development, i.e. the stages of a partnership life cycle. The materialisation of these partnerships refers to all stages of the technological value chain of microelectronic devices, which allows each professional player on the Russian market in microelectronics to perform their functions. Each stage of the partnership life cycle relates to specific features and key success factors. By analysing the stages of partnerships life cycles, it is possible to predict and identify potential problems in terms of the materialisation and development of inter-organisational relationships.
Abstract: Business crisis management is extremely important. Underestimating its importance may result in significant losses for owners, or even put an end to the operation of an enterprise. Hence, the unequivocal conclusion that the continuous evolution of knowledge regarding business crisis management is a major prerequisite and a factor encouraging more successful and more sustainable business development. It is a necessary condition for the survival and stabilization of enterprises, therefore enterprises need to design adequate accounting policies, i.e. a defensive accounting policy, within the context of legally regulated conditions regarding the organisation and methodology of accounting reporting for enterprises. Each enterprise undergoing a crisis or depression should define the contents of the separate elements of its defensive accounting policy so that the accounting tools employed, and the practical actions implemented, render this policy an efficient means for managing the economic activity of the enterprise. The aim of this paper is to outline the specific features of business crisis management and its impact on the accounting policy of enterprises.