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ACCOUNTING AND ITS CONTRIBUTION TO THE ECONOMIC SCIENCE Cover Image

ПРИНОСИТЕ НА СЧЕТОВОДСТВОТО В ИКОНОМИЧЕСКАТА НАУКА
ACCOUNTING AND ITS CONTRIBUTION TO THE ECONOMIC SCIENCE

Jubilee International Scientific Conference

Author(s): Snejana Bacheva, Daniela Feschiyan, Trifon Trifonov, Roumiana Pozharevska, Krastyo Chukov, Gianfranco Capodaglio, Atanas Atanassov, Mariya Pavlova, Boika Brezoeva, Rositsa Ivanova, Maria Markova, Mariana Petrova Mihaylova, Atanaska Filipova-Slancheva, Michael Musov, Maia Natchkova, Nikolay Oresharov, Hristina Oreshkova, Diana Petrova, Liliya Rangelova, Teodora Roupska, Kameliya Savova, Marko Liubomirov Timchev, Iryna Zhurakovska, Nataliia Iliushyk, Lyubomir Todorov, Natalya Tluchkevich, Irina Tkachuk, Oksana Nuzhnaya, Minko Velkov, Ventsislav Vechev , Daniela Ventsislavova Georgieva, Elena Stavrova, Valentina Staneva, Svetlozar Stefanov, Borislav Boyanov, Kalina Kavaldzhieva, Lilyana Kamburova, Hristo Mavrudiev, Nikolina Nikolova, Radka Andasarova, Iavor Bachev, Yasen Daskalov, Diyana Bankova, Kiril Bashikarov, Miglena Trencheva, Simeon Grigorov, Vanina Dangarska, Boyko Dolenski, Yasen Kirov, Stoyan Stoyanov
Subject(s): Economy, National Economy, Supranational / Global Economy, Business Economy / Management, Micro-Economics, Financial Markets, Public Finances, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: аaccountancy; accounting rules; accounting principles; accounting concepts; accounting conventions; creative accounting
Summary/Abstract: The proceedings contains scientific papers from the Jubilee International Scientific Conference "ACCOUNTING AND ITS CONTRIBUTION TO THE ECONOMIC SCIENCE". The edition is dedicated to the 100th anniversary of the Department “Accountancy and Analysis” at the University of National and World Economy, Sofia, Bulgaria. The plenary papers are devoted to the historical development and the contributions of the Department of Accounting and Analysis for the development of the University and for economic science in Bulgaria, as well as to the current topics in the field of standardization in the accounting systems of private and public sector enterprises. The scientific papers are divided into the following thematic sections in the field of accounting, auditing and financial analysis:1. The “birth” of accounting, its development and teaching throughout the years 2. The Conceptual framework and standard-setting practice for accounting and audit 3. Financial reporting and accounting management 4. Regulatory accounting rules and standards in the public sector. The authors of the papers are recognized researchers in the field of accounting, auditing and financial analysis from Bulgaria and abroad.

  • E-ISBN-10: 978-619-232-2
  • Page Count: 490
  • Publication Year: 2020
  • Language: English, Bulgarian, Russian, Ukrainian
КАТЕДРА СЧЕТОВОДСТВО И АНАЛИЗ – 100 ГОДИНИ ОСНОВНО ЗВЕНО НА УНСС

КАТЕДРА СЧЕТОВОДСТВО И АНАЛИЗ – 100 ГОДИНИ ОСНОВНО ЗВЕНО НА УНСС
(DEPARTMENT ACCOUNTANCY AND ANALYSIS – 100 YEARSMAIN UNIT OF UNWE)

  • Author(s):Snejana Bacheva, Stoyan Stoyanov
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:11-21
  • No. of Pages:11
  • Keywords:accountancy; accountancy and education
  • Summary/Abstract:The proceedings contains scientific papers from the Jubilee International Scientific Conference "ACCOUNTING AND ITS CONTRIBUTION TO THE ECONOMIC SCIENCE". The edition is dedicated to the 100th anniversary of the Department “Accountancy and Analysis” at the University of National and World Economy, Sofia, Bulgaria. The plenary papers are devoted to the historical development and the contributions of the Department of Accounting and Analysis for the development of the University and for economic science in Bulgaria, as well as to the current topics in the field of standardization in the accounting systems of private and public sector enterprises. The scientific papers are divided into the following thematic sections in the field of accounting, auditing and financial analysis:1. The “birth” of accounting, its development and teaching throughout the years 2. The Conceptual framework and standard-setting practice for accounting and audit 3. Financial reporting and accounting management 4. Regulatory accounting rules and standards in the public sectorThe authors of the papers are recognized researchers in the field of accounting, auditing and financial analysis from Bulgaria and abroad.
РЕГЛАМЕНТИ И СТАНДАРТИЗАЦИЯ НА СЧЕТОВОДНАТА СИСТЕМА В ПУБЛИЧНИЯ СЕКТОР

РЕГЛАМЕНТИ И СТАНДАРТИЗАЦИЯ НА СЧЕТОВОДНАТА СИСТЕМА В ПУБЛИЧНИЯ СЕКТОР
(REGULATION AND STANDARDIZATION IN PUBLIC SECTOR ACCOUNTING SYSTEM)

  • Author(s):Daniela Feschiyan
  • Language:Bulgarian
  • Subject(s):Economy, Supranational / Global Economy, Public Finances, Accounting - Business Administration
  • Page Range:22-49
  • No. of Pages:18
  • Keywords:accounting; public sector; Accrual Bassed Accounting; International Accounting Standards for the public sector; European accounting standards for the public sector
  • Summary/Abstract:This paper analyzes the need for accounting standardization in public sector by fully applying the principle of Accrual Based Accounting. It also examines the discrepancy between public sector accounting system based on the cash flow principle (cash basis) and the accrual based principle in the process of budgetary surveillance in the EU. The dependence of statistical information at European level on quality of financial statements in the public sector and Eurostat's willingness to global harmonization of accounting standards, based on accrual principle, in the general government sector is analyzed. The prospects and effects of process of harmonization of public sector accounting also are presented. It concludes that accounting standardization and fully applying the accrual principle in Bulgarian public sector will bring significant benefits to public financial management.
КОНЦЕПТУАЛНИ ОСНОВИ НА СЧЕТОВОДНАТА ТЕОРИЯ – СЧЕТОВОДНИ ПРАВИЛА

КОНЦЕПТУАЛНИ ОСНОВИ НА СЧЕТОВОДНАТА ТЕОРИЯ – СЧЕТОВОДНИ ПРАВИЛА
(CONCEPTUAL BASIS OF ACCOUNTING THEORY – ACCOUNTING RULES)

  • Author(s):Snejana Bacheva
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:51-64
  • No. of Pages:14
  • Keywords:accounting rules; accounting principles; accounting concepts; accounting conventions
  • Summary/Abstract:At present, although the concept of accounting is required in accounting theory and practice, there is still uncertainty about the substance of the accounting rules, including the need for their introduction and use. The timeliness of the problem is also due to the fact that accounting theory usuallycircumvents or avoids the clarification of their nature, but goes directly to the list of types of accounting principles. This article attempts to answer the question – what are the accounting rules, why they appear, how they are presented, and what they affect.
КАЧЕСТВО НА АКТИВИТЕ И РЕГУЛАТОРЕН КАПИТАЛ – НОВОТО ПРЕДИЗВИКАТЕЛСТВО ПРЕД БАНКОВИЯ МЕНИДЖМЪНТ

КАЧЕСТВО НА АКТИВИТЕ И РЕГУЛАТОРЕН КАПИТАЛ – НОВОТО ПРЕДИЗВИКАТЕЛСТВО ПРЕД БАНКОВИЯ МЕНИДЖМЪНТ
(ASSETS QUALITY AND REGULATORY CAPITAL – THE NEW CHALLENGE IN BANK MANAGEMENT)

  • Author(s):Daniela Feschiyan, Radka Andasarova
  • Language:Bulgarian
  • Subject(s):Economy, Supranational / Global Economy, Financial Markets, Public Finances, Accounting - Business Administration
  • Page Range:65-75
  • No. of Pages:11
  • Keywords:financial assets; accounting standards; Expected Credit Losses (ECL); Common Equity Tier 1 (CET 1)
  • Summary/Abstract:In recent years, EU banks have been faced with the challenge of applying tighter supervisory requirements, on the one hand, and on the other, adapting to changes in accounting legislation in the context of the mandatory application of IFRS 9 Financial Instruments. The main results and conclusionsof a theoretical-methodological and empirical study of the impact ant implementation of IFRS 9 to bank regulatory capital are presented. The complication of normative regulation for supervisory and reporting purposes raises a number of difficulties and questions for banks. A credible and timely assessment of the potential impact on regulatory banking capital resulting from the adoption of IFRS 9 Financial Instruments is required. In Bulgaria these issues are very important as an open European economy in order to create favorable conditions for a stable financial and banking system.
КРЕАТИВНАТА ИКОНОМИКА И ГЕНЕРИРАНИТЕ НЕМАТЕРИАЛНИ АКТИВИ В ПОЛЕТО НА КРЕАТИВНОТО СЧЕТОВОДСТВО

КРЕАТИВНАТА ИКОНОМИКА И ГЕНЕРИРАНИТЕ НЕМАТЕРИАЛНИ АКТИВИ В ПОЛЕТО НА КРЕАТИВНОТО СЧЕТОВОДСТВО
(CREATIVE ECONOMY AND THE INTANGIBLE ASSETS GENERATED IN THE FIELD OF CREATIVE ACCOUNTING)

  • Author(s):Roumiana Pozharevska
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:76-96
  • No. of Pages:21
  • Keywords:accounting; creative accounting; intangible assets; knowledge Economy; intellectual capital.
  • Summary/Abstract:The paper focuses on the intangible assets generated by the knowledge economy and the options for their presentation in the financial statements. Analyzed and compared are the theory and practice of traditional accounting presentation and the options provided by creative accounting, considered in both aspects: as manipulation of information and as a tool for financial and fiscal engineering while maintaining the spirit of the law.
ОТСТОЯВАНЕТО НА НАУКАТА В СЧЕТОВОДСТВОТО

ОТСТОЯВАНЕТО НА НАУКАТА В СЧЕТОВОДСТВОТО
(UPHOLDING SCIENCE IN ACCOUNTING)

  • Author(s):Trifon Trifonov
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:97-114
  • No. of Pages:14
  • Keywords:accounting science; systematic approach; economic approach; Marxism; margin revolution
  • Summary/Abstract:The main purpose of the paper is to examine the theoretical and methodological challenges that arise in the course of the evolution of accounting science. The peculiarities in the development of accounting science, which presuppose estimates for it, as well as their relevance to current reporting, are revealed. In this connection, the following main issues are analyzed in the study: the application of the systemic versus economic approach in accounting science, the role and application of Marxist economic theses in accounting, the introduction of margin analysis and the role of the margin revolution, the application of quantitative methods for analyzing and optimizing economic processes and the functional analysis of the relationship between cost and results in accounting. Based on the analysis made, it is concluded that the evolution of Bulgarian accounting has proved that it has no alternative for development other than the achievements of fundamental economic thought.
РЕНТАБИЛНОСТ НА БАЗА ТРУДОВИ РЕСУРСИ И НА БАЗА РАЗХОДИ ЗА ЖИВ ТРУД (МОДЕЛИ ЗА АНАЛИЗ)

РЕНТАБИЛНОСТ НА БАЗА ТРУДОВИ РЕСУРСИ И НА БАЗА РАЗХОДИ ЗА ЖИВ ТРУД (МОДЕЛИ ЗА АНАЛИЗ)
(LABOR RESOURCES-BASED AND LABOR COST-BASED RATE OF RETURN (MODELS FOR ANALYSIS))

  • Author(s):Krastyo Chukov
  • Language:Bulgarian
  • Subject(s):Economy, National Economy, Business Economy / Management, Public Finances, Accounting - Business Administration, Socio-Economic Research
  • Page Range:115-122
  • No. of Pages:8
  • Keywords:rate of return; resources; cost; analysis models; factors
  • Summary/Abstract:This publication studies two rate-of-return indicators relevant to enterprises with industrial principal activity: 1) labor resources-based rate of return, and 2) labor cost-based rate of return. In its nature, the first indicator describes the ultimate efficiency of use of one of the major production resources –manpower, and the second – the ultimate efficiency of costs incurred for the operation of manpower. With the help of the denominated factor modelling method, we outline and present two-factor model for analysis of labor resources-based rate of return and four-factor model for analysis of labor cost-based rate of return. The two-factor model enables the identification and evaluates the impact of two factors on the difference between the actual and reference level of labor resources-based rate of return: 1) changes of labor efficiency, and 2) changes of return on sales. The four-factor model gives the opportunity to identify and evaluate the impact of the following factors on the difference between the actual and reference level of labor cost-based rate of return:5) changes of labor efficiency;6) changes of average salary per staff member;7) changes of social security cost per staff member, and8) changes of return on sales.Analysis can be further deepened through detailed review of obtained results and the factors’ impact on the dynamics of the two rate-of-return indicators, in combination with the share method. With regard to the first indicator, it requires analysis of the impact of the factors determining labor efficiency and return on sales, and with regard to the second indicator – the factors determining labor efficiency, average salary per staff member, social security cost per staff member, and return on sales, respectively.
THE ACCRUAL PRINCIPLE IN LIGHT OF THE INNOVATIONS CONTAINED IN THE NEW IFRS’s

THE ACCRUAL PRINCIPLE IN LIGHT OF THE INNOVATIONS CONTAINED IN THE NEW IFRS’s
(THE ACCRUAL PRINCIPLE IN LIGHT OF THE INNOVATIONS CONTAINED IN THE NEW IFRS’s)

  • Author(s):Gianfranco Capodaglio, Vanina Dangarska
  • Language:English
  • Subject(s):Economy, Supranational / Global Economy, Financial Markets, Accounting - Business Administration
  • Page Range:123-128
  • No. of Pages:6
  • Keywords:accounting practice; financial statements;
  • Summary/Abstract:In 2018 we have witnessed two events that can profoundly mark the accounting practice of the persons who prepare the financial statements according to the IAS/IFRS: the European endorsement and the entry into force of IFRS 15, concerning the revenues from contracts with customers, and the newConceptual Framework for Financial Reporting, which replaces the previous Framework for the Preparation and Presentation of Financial Statements. There are many innovations contained in the two documents, but here we want to highlight some aspects concerning one of the principles underlying the financial statements that has always represented and represents a fundamental rule: the accrual basis.
ДИСТАНЦИОННОТО ОБУЧЕНИЕ ПО СЧЕТОВОДСТВО ВЪВ ВИСШЕТО ИКОНОМИЧЕСКО УЧИЛИЩЕ – СЪСТОЯНИЕ И ВЪЗМОЖНОСТИ

ДИСТАНЦИОННОТО ОБУЧЕНИЕ ПО СЧЕТОВОДСТВО ВЪВ ВИСШЕТО ИКОНОМИЧЕСКО УЧИЛИЩЕ – СЪСТОЯНИЕ И ВЪЗМОЖНОСТИ
(DISTANCE LEARNING IN ACCOUNTING AT A UNIVERSITY OF ECONOMICS – CURRENT STATE AND OPPORTUNITIES)

  • Author(s):Atanas Atanassov
  • Language:Bulgarian
  • Subject(s):Social Sciences, Economy, Education, Higher Education , Accounting - Business Administration
  • Page Range:129-134
  • No. of Pages:6
  • Keywords:accounting; distance learning in accounting; university of economics
  • Summary/Abstract:The report analyses the current state and the opportunities of distance learning in accounting at a university of economics by emphasizing the training provided to the students of Dimitar A. Tsenov Academy of Economics, where the author is a professor at the moment. The features of the distancelearning in the accounting program are being highlighted and its characteristics are being pointed out. The formed conclusions regarding the research are being made as a result of the performed analysis.
ПРОМЕНЯЩАТА СЕ РОЛЯ И НОВИТЕ КОМПЕТЕНЦИИ НА УПРАВЛЕНСКИТЕ СЧЕТОВОДИТЕЛИ В ЕРАТА НА ЦИФРОВИТЕ ТЕХНОЛОГИИ

ПРОМЕНЯЩАТА СЕ РОЛЯ И НОВИТЕ КОМПЕТЕНЦИИ НА УПРАВЛЕНСКИТЕ СЧЕТОВОДИТЕЛИ В ЕРАТА НА ЦИФРОВИТЕ ТЕХНОЛОГИИ
(THE CHANGING ROLE AND COMPETENCES OF MANAGEMENT ACCOUNTANTS IN THE DIGITAL ERA)

  • Author(s):Mariya Pavlova
  • Language:Bulgarian
  • Subject(s):Economy, Business Economy / Management, Accounting - Business Administration
  • Page Range:136-143
  • No. of Pages:8
  • Keywords:profession; management accountant; professional knowledge and skills; competencies; accounting education
  • Summary/Abstract:In the digital era the role of management accounting and the tasks it is facing are dynamically changing. It is the people, the management accountants, who represent the foundation of accounting. The present work discusses the controversy regarding the future of the profession and tendencies in the development of the financial accounting function in the context of fast technological progress. It supports the view that the new role of management accountants requires new knowledge, skills and abilities. The author outlines some guidelines for the change of the core competencies of the management accounting profession and opportunities for their development.
ПО ДВА ВАЖНИ ВЪПРОСА ОТНОСНО НОВИЯ СТАНДАРТ ЗА ЛИЗИНГА

ПО ДВА ВАЖНИ ВЪПРОСА ОТНОСНО НОВИЯ СТАНДАРТ ЗА ЛИЗИНГА
(TWO IMPORTANT QUESTIONS ABOUT THE NEW LEASING STANDARD)

  • Author(s):Boika Brezoeva
  • Language:Bulgarian
  • Subject(s):Economy, National Economy, Accounting - Business Administration
  • Page Range:144-152
  • No. of Pages:9
  • Keywords:lease; lessee; lessor; right–of–use asset; lease liability
  • Summary/Abstract:IFRS 16 Leases completely changes the accounting for leases by lessees based on the concept of transferring control over a right-of-use asset – as opposed to the concept of transferring risks and benefits, which was fundamental in the reversed IAS 17 Leases, and under IFRS 16, applies only by lessors. The report makes a critical analysis of the conceptual underpinnings of the new accounting requirements for leases, seeking to answer two important questions: (a) why has lease accounting changed? and (b) why two reporting models are required for lessors but only one for lessees? According to the author, the arguments presented by the IASB for the application of different accounting models and approaches by lessees and lessors is inconsistent from a theoreticaland methodological point of view, and it results in an asymmetric effect on the financial statements of the two counterparties under a lease. Notwithstanding the IASB's strengths in the right-of-use asset model, its major drawback is that all leases are treated as financing transactions, thus not adequately reflecting the economic differences between them.
ПО ВЪПРОСА ЗА РАЗЛИЧНИТЕ ПОДХОДИ ЗА АНАЛИЗ НА ЕФЕКТИВНОСТТА НА БИЗНЕСА

ПО ВЪПРОСА ЗА РАЗЛИЧНИТЕ ПОДХОДИ ЗА АНАЛИЗ НА ЕФЕКТИВНОСТТА НА БИЗНЕСА
(ABOUT DIFFERENT APPROACHES TO ANALYZE BUSINESS EFFICIENCY)

  • Author(s):Rositsa Ivanova
  • Language:Bulgarian
  • Subject(s):Economy, Business Economy / Management, Accounting - Business Administration
  • Page Range:153-161
  • No. of Pages:9
  • Keywords:efficiency; approaches; analysis; evaluation; methodology
  • Summary/Abstract:The issue of enterprise’s business efficiency is topical at all stages and phases of their development. Efficiency indicators may be classified as follows: indicators for efficiency of use of resources; indicators for efficiency of income and expenses; turnover indicators; rate of return indicators. Enterprise’s business efficiency may be analyzed and evaluated by applying varied approaches and models of analysis. These are the accounting (traditional) approach based on accounting information, the financial approach – based on the cost assessment of business, and the management approach based on themission, vision and strategy of the enterprise. Different approaches use different metrics and analysis models as well as different sources of information. The resultative analytical information meets theinformation needs of varied users. This publication highlights the approaches to the enterprise’s business efficiency analysis. Since business efficiency is a complex concept, one can successfully use the accounting, financial and management approach, whereas each of them allows analyzing and evaluating the enterprise’s business efficiency from different perspective. Thus, financial management can obtainobjective information in various fields and to use it for making proper and justified decisions for the enterprise’s development and for its financial and investment policy in operational and strategic aspect.The subject matter of the publication covers the accounting approach for analysis of business efficiency.The work is aimed at demonstrating the need of use and the importance and usefulness of the accounting approach for analysis and evaluation of enterprise’s business efficiency.
ПРИЗНАВАНЕ НА ФИНАНСОВ АКТИВ ПРИ ОПЕРАТОР ПО КОНЦЕСИОНЕН ДОГОВОР

ПРИЗНАВАНЕ НА ФИНАНСОВ АКТИВ ПРИ ОПЕРАТОР ПО КОНЦЕСИОНЕН ДОГОВОР
(RECOGNITION OF A FINANCIAL ASSET TO THE OPERATOR OF SERVICE CONCESSION AGREEMENT)

  • Author(s):Maria Markova
  • Language:Bulgarian
  • Subject(s):Economy, National Economy, Business Economy / Management, Public Finances, Accounting - Business Administration
  • Page Range:162-172
  • No. of Pages:11
  • Keywords:accounting; concession; financial asset
  • Summary/Abstract:When we discuss concession agreements, the relationship with the operator is more often associated with the recognition of vested rights in the context of an intangible asset. There is also another possible relationship between the two parties, as a result of which the operator should account for a financial asset. This second hypothesis will be reviewed in the current report. The main goal of the report is to promote a mechanism for a successful partnership between the state and the private operators. The report also outlines some specific national peculiarities, related to the possibility for recognition of afinancial asset under a concession agreement.
ЕТАПИ ПРИ ПРОЦЕСА НА ГОДИШНО СЧЕТОВОДНО ПРИКЛЮЧВАНЕ И ГОДИШЕН ФИНАНСОВ ОТЧЕТ НА ЗАСТРАХОВАТЕЛНИТЕ ДРУЖЕСТВА

ЕТАПИ ПРИ ПРОЦЕСА НА ГОДИШНО СЧЕТОВОДНО ПРИКЛЮЧВАНЕ И ГОДИШЕН ФИНАНСОВ ОТЧЕТ НА ЗАСТРАХОВАТЕЛНИТЕ ДРУЖЕСТВА
(STAGES IN THE ANNUAL ACCOUNTING CLOSURE AND FINANCIAL STATEMENTS OF INSURANCE COMPANIES)

  • Author(s):Mariana Petrova Mihaylova, Atanaska Filipova-Slancheva
  • Language:Bulgarian
  • Subject(s):Economy, Business Economy / Management, Accounting - Business Administration
  • Page Range:173-188
  • No. of Pages:16
  • Keywords:insurers; annual financial statements; process; steps; annual accounting closure
  • Summary/Abstract:Annual general-purpose financial statements are the final result of financial reporting – the primary presentation source for insurance companies of an information to stakeholders (shareholders, counterparties, supervisory and management bodies, etc.). It is presented through the components of the annual financial statement – statement of financial position (or balance sheet), statement of profit or loss and other comprehensive income (or statement of comprehensive income for the period), statement of changes in equity, cash flow statement, explanatory notes, as well as non-financial information (activity report, corporate governance statement, non-financial statement) accompanyingthe financial statements. presents the nature and components of the annual financial statements as well as the specifics and stages of the annual accounting closure of insurance companies. The main objective of the report is to presents the nature and components of the annual financial statements as well as the specifics and stages of the annual accounting closure of insurance companies in Bulgaria. The methodology involves a literature review and practice of the annual accounting closure in Bulgaria – nature, elements, components, stages. The regulatory framework in Bulgaria is also thoroughly examined. The main conclusion of the study is that there are several stages of annual accounting closure, applied by insurers, which the authors examines in detail.
ПРИНОСЪТ НА СЧЕТОВОДНАТА ПРОФЕСИЯ В УПРАВЛЕНИЕТО НА КИБЕРСИГУРНОСТТА

ПРИНОСЪТ НА СЧЕТОВОДНАТА ПРОФЕСИЯ В УПРАВЛЕНИЕТО НА КИБЕРСИГУРНОСТТА
(THE CONTRIBUTION OF ACCOUNTING PROFESSION TO CYBERSECURITY MANAGEMENT)

  • Author(s):Michael Musov
  • Language:Bulgarian
  • Subject(s):Social Sciences, Economy, Education, Business Economy / Management, Higher Education , Accounting - Business Administration
  • Page Range:189-198
  • No. of Pages:10
  • Keywords:cyber risk; cybersecurity; accounting profession; accounting; higher education
  • Summary/Abstract:In today’s world of information technologies (IT) and digital connectivity cyber risk is considered inevitable for all organizations and effective cybersecurity management is crucial for all. The aim of this paper is to outline the role of accountants in the process of cybersecurity management in modernorganizations. This paper argues that to benefit cybersecurity risk management, accounting needs to reform its higher education model. The first section describes the nature and the stages of cybersecurity management. The second section explores the competencies needed by the next generation ofcybersecurity professionals. The third section discusses the potential of the accounting profession to add value in the process of cybersecurity management as well as its implications for reforming accounting higher education. The paper concludes with a call for a balanced commitment to both students’ personal and professional development, which appears to be crucial for the future of accounting graduates, for the role of the profession in modern society as well as for the welfare of the society itself.
СПЕЦИФИЧНИ АСПЕКТИ ПРИ ИЗГОТВЯНЕТО НА ГОДИШНИТЕ ФИНАНСОВИ ОТЧЕТИ НА ДРУЖЕСТВАТА СЪС СПЕЦИАЛНА ИНВЕСТИЦИОННА ЦЕЛ (АДСИЦ)

СПЕЦИФИЧНИ АСПЕКТИ ПРИ ИЗГОТВЯНЕТО НА ГОДИШНИТЕ ФИНАНСОВИ ОТЧЕТИ НА ДРУЖЕСТВАТА СЪС СПЕЦИАЛНА ИНВЕСТИЦИОННА ЦЕЛ (АДСИЦ)
(SPECIFIC ASPECTS OF THE PREPARATION OF THE ANNUAL FINANCIAL STATEMENTS OF SPECIAL-PURPOSE VEHICLES (SPV))

  • Author(s):Maia Natchkova
  • Language:Bulgarian
  • Subject(s):Economy, Business Economy / Management, Accounting - Business Administration
  • Page Range:199-207
  • No. of Pages:9
  • Keywords:financial statements; special-purpose vehicles; investments
  • Summary/Abstract:Under the conditions of market-oriented economy new forms of investments occur, which are more profitable than the investments in bank money deposits. Special-purpose vehicles (SPV), which prove to be low-risk forms of cash investments, are among these new forms in which natural persons and legalentities may invest their available cash. The public importance and development of special-purpose vehicles require their strict individual accounting, analyzing and auditing, dynamic and efficient management and special supervision by a governmental supervision authority. The supervision of the specific activity pursued by such companies in a high-risk environment allows early finding, identification and alerting of instances of financial frauds and crimes with the funds of the investors. The purpose of this report is to outline the accounting principles, rules and good practices ensuring true and fair presentation of accounting information in the special-purpose vehicles’ financial statements,improved management of their assets and capitals, and increased yield of the investments made in them.
ПРОБЛЕМИ ПРИ ПРЕДСТАВЯНЕ НА РАЗЧЕТИТЕ ПО КОРПОРАТИВНОТО ПОДОХОДНО ОБЛАГАНЕ ВЪВ ФИНАНСОВИТЕ ОТЧЕТИ

ПРОБЛЕМИ ПРИ ПРЕДСТАВЯНЕ НА РАЗЧЕТИТЕ ПО КОРПОРАТИВНОТО ПОДОХОДНО ОБЛАГАНЕ ВЪВ ФИНАНСОВИТЕ ОТЧЕТИ
(PROBLEMS OF PRESENTING CURRENT AND DEFERRED TAX ASSETS AND LIABILITIES IN FINANCIAL STATEMENT)

  • Author(s):Nikolay Oresharov
  • Language:Bulgarian
  • Subject(s):Economy, National Economy, Business Economy / Management, Accounting - Business Administration
  • Page Range:208-217
  • No. of Pages:10
  • Keywords:deferred taxes; tax assets; tax liabilities; temporary differences; time differences
  • Summary/Abstract:The need for recognition and presentation in the financial statements of deferred taxes originates not only from the desire to achieve fair presentation of the financial results, but also from the need to apply the accounting assumption for the current accrual – the need for taxes to be compared to the profits that are earned. Accrued and recognized deferred tax liabilities are likely to become actual tax liabilities in the future, which is sufficient to justify their recognition in the present. In relation to corporate income taxation, in principle, two sets of estimates originate: current tax expense estimates and deferred tax estimates. Due to temporary differences, tax accruals in later periods may increase ordecrease as a result of transactions or events that occurred before the balance sheet date. Therefore, the underlying case for deferred tax accounting is the extent to which a provision for the future tax consequences of past transactions and events has to be recognized and charged. Accounting theory knows three different methods for this: the zero provision method, the partial provision method, and the full provision method. This report examines the impact that the application of each of these methods has on the true and fair presentation of information in the financial statements.
THE DEBATE ON THE FUTURE OF THE INTERNATIONAL FINANCIAL REPORTING STANDARDS IN THE UNITED STATES: CRITIQUE AND CONSIDERATIONS

THE DEBATE ON THE FUTURE OF THE INTERNATIONAL FINANCIAL REPORTING STANDARDS IN THE UNITED STATES: CRITIQUE AND CONSIDERATIONS
(THE DEBATE ON THE FUTURE OF THE INTERNATIONAL FINANCIAL REPORTING STANDARDS IN THE UNITED STATES: CRITIQUE AND CONSIDERATIONS)

  • Author(s):Hristina Oreshkova
  • Language:English
  • Subject(s):Economy, Supranational / Global Economy, Business Economy / Management, Financial Markets, Public Finances, Business Ethics
  • Page Range:218-236
  • No. of Pages:19
  • Keywords:International Accounting Standards; International Financial Reporting Standards; U.S. Generally Accepted Accounting Principles; International Accounting Standards Board; Financial Accounting Standards
  • Summary/Abstract:In the present article a subject matter that has attracted great interest over the recent decades is analyzed. The critical question of the likelihood of incorporating the International Financial Reporting Standards into the financial reporting system of the United States has raised a lot of debates.The problem has been the focus of profound deliberations among both scientific and professional community. Our long-lasting research found out that the strategic goal of reaching one single set of global accounting standards through the project of convergence carried out by the most influential Boards – the International Accounting Standards Board located in London with second headquarters in Tokyo, and the U.S. Financial Accounting Standards Board, has not yet been achieved. It is appropriate to emphasize that the realisation of the project began as a result of the agreement reached in September 2002, Norwalk. However, it is increasingly recognized that the era of convergence probably is coming to an end. Prominent scholars argue that the strategic goal turned out to be neither practical norachievable in the foreseeable future. For the time being the authorized American institutions do not intend to completely adopt the International Financial Reporting Standards as issued by the IASB into the U.S. financial reporting system. It seems as though, the authoritative organizations in the United States attempt to continue keeping in line with the specifics of the U.S. business environment. It is assumed that the Securities and Exchange Commission will never perhaps risk causing a political storm by yielding the control over its accounting to an institution outside the USA. In my view, an essential reason that causes inconveniences in the implementation of the IASB’s standards globally is that the accounting principles and standards interact in different ways with national laws, social and ethic codes, domestic fiscal rules, and this process is unavoidable. However, in each state and jurisdiction the interaction has its characteristics and specifics. Complications may arise out of the local tradition, culture and historical continuity in performing accounting as a practice as well as the legal doctrine and the degree of their interrelation. No less important are the essence and peculiarities of the national legal and accounting system, the extent of cultural impacts on the contemporary development of accounting and the influence of the principles on the basis of which the systems of state authority are established, interact and function.
КЛЮЧОВИ СЧЕТОВОДНО-ИНФОРМАЦИОННИ ПРОБЛЕМИ ПРИ УПРАВЛЕНИЕТО НА ЗАДГРАНИЧНИ ДЕЙНОСТИ В СЪВРЕМЕННИТЕ УСЛОВИЯ НА ГЛОБАЛИЗАЦИЯ

КЛЮЧОВИ СЧЕТОВОДНО-ИНФОРМАЦИОННИ ПРОБЛЕМИ ПРИ УПРАВЛЕНИЕТО НА ЗАДГРАНИЧНИ ДЕЙНОСТИ В СЪВРЕМЕННИТЕ УСЛОВИЯ НА ГЛОБАЛИЗАЦИЯ
(KEY ACCOUNTING INFORMATION PROBLEMS IN THE MANAGEMENT OF OVERSEAS ACTIVITIES IN THE CONTEMPORARY CONDITIONS OF GLOBALIZATION)

  • Author(s):Diana Petrova
  • Language:Bulgarian
  • Subject(s):Economy, Supranational / Global Economy, Accounting - Business Administration
  • Page Range:237-247
  • No. of Pages:11
  • Keywords:accounting information; management; overseas activities
  • Summary/Abstract:The paper treats the characteristic peculiarities of processes of planning, control and analysis of overseas activities of the companies, which determine the specific requirements regarding accounting information in the contemporary conditions of globalization. The key problems related to accounting information provision of the management of overseas activities have been systematized and possible approaches for solving them have been presented. Special attention has been paid to the problems arising as a result of the changes in exchange rates and the application of international transferpricing in the activities of the company.
НЯКОИ АСПЕКТИ НА СЧЕТОВОДНИЯ АНАЛИЗ НА БАНКОВИТЕ КЛИЕНТИ

НЯКОИ АСПЕКТИ НА СЧЕТОВОДНИЯ АНАЛИЗ НА БАНКОВИТЕ КЛИЕНТИ
(SOME ASPECTS OF ACCOUNTING ANALYSIS OF BANK CUSTOMERS)

  • Author(s):Liliya Rangelova
  • Language:Bulgarian
  • Subject(s):Economy, Business Economy / Management, Accounting - Business Administration
  • Page Range:248-255
  • No. of Pages:8
  • Keywords:commercial banks; customer relationships; management accounting; funds transfer price; customer profitability reporting
  • Summary/Abstract:Quick advancement of the banking sector made it necessary to rethink the role of accounting as an evolving system. Financial information should assist managers in the decision making process. In this regard, the purpose of accounting is expressed not only in the activities of book-keeping ofpast business events, but also in providing information to support strategic and operational decisions and to control their implementation. For that purpose, it is necessary to achieve a single methodology for creating and using of accounting information (specific database and bank internal managerial reporting) for correct estimation of customer relationships. The objective of this paper is to clarify from a theoretical and methodological viewpoint and to encourage the practical implementation of the analysis of customer segments based on provision of relevant accounting information, customized to the specific conditions in Bulgarian commercial banks.
УПРАВЛЕНСКОТО СЧЕТОВОДСТВО – МЕЖДУ ОТЧЕТНОСТ, АНАЛИЗ, ПЛАНИРАНЕ И КОНТРОЛ

УПРАВЛЕНСКОТО СЧЕТОВОДСТВО – МЕЖДУ ОТЧЕТНОСТ, АНАЛИЗ, ПЛАНИРАНЕ И КОНТРОЛ
(MANAGEMENT ACCOUNTING – BETWEEN ACCOUNTING, ANALYSIS, PLANNING AND CONTROL)

  • Author(s):Teodora Roupska
  • Language:Bulgarian
  • Subject(s):Economy, Business Economy / Management, Accounting - Business Administration
  • Page Range:256-265
  • No. of Pages:10
  • Keywords:financial accounting; management accounting system
  • Summary/Abstract:The enterprise's management’s need of information and analysis that characterizes different aspects of its business arises. Some of this information is impossible to be provided from the financial accounting while the information and analysis provided by the management accounting system is related to internal and external processes. Those process may have already occurred, may be expected to occur in the future or might be occurring at the present. In this context management accounting is not just bookkeeping. It is a complex system that prepares planning, current, and reporting information and analyzes that are used by the management for control purposes.
СЧЕТОВОДНИЯТ БАЛАНС – ОБЕКТ НА ИЗСЛЕДВАНЕ ОТ УЧЕНИТЕ-СЧЕТОВЕДИ В КАТЕДРА „СЧЕТОВОДСТВО И АНАЛИЗ“ НА УНСС

СЧЕТОВОДНИЯТ БАЛАНС – ОБЕКТ НА ИЗСЛЕДВАНЕ ОТ УЧЕНИТЕ-СЧЕТОВЕДИ В КАТЕДРА „СЧЕТОВОДСТВО И АНАЛИЗ“ НА УНСС
(BALANCE SHEET – SUBJECT OF RESEARCH BY ACCOUNTANTS IN THE DEPARTMENT OF ACCOUNTING AND ANALYSIS AT UNWE)

  • Author(s):Kameliya Savova
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:266-279
  • No. of Pages:14
  • Keywords:balance sheet; balance sheet summary; balance sheet equality; balance sheet estimates; balance sheet theories
  • Summary/Abstract:The Balance Sheet has been the subject of research by accounting scientists at UNWE's Department of Accounting and Analysis since its foundation in 1920. Their work on the subject is of current relevance and with valuable contributions to economic science. The essence of the balance sheet as a twodimensional reflection of the capital invested in the enterprise – as assets and capital sources – determines its importance for the users of the information presented therein. Balance sheet is defined as a means of practical application of the „balance sheet aggregation“ method. Some scientists define it as an organizational basis of accounting, and others – as for a continuation of twodimensionalreflection of business accounting operations for the purpose of summarizing accounting information. The various classification criteria of the balance sheet help to reveal the diverse usefulness of the information presented therein. The conceptions on its form, structure and content are similar. In viewof their importance to users of carrying information they are subject to standardization and regulatory framework. The qualities of balance sheet information and its applied presentation provoke the development of balance sheet theories. The „static“ and „dynamic“ balance theory are fundamental.They are the basis for current theoretical and applied concepts, approaches and policies in accounting, which contributes to the development of economic science.
СТОПАНСКИ СЧЕТОВОДЕН АНАЛИЗ – МОДЕЛИ И НАСОКИ ЗА УСЪВЪРШЕНСТВАНЕ

СТОПАНСКИ СЧЕТОВОДЕН АНАЛИЗ – МОДЕЛИ И НАСОКИ ЗА УСЪВЪРШЕНСТВАНЕ
(ACCOUNTING BUSINESS ANALYSIS – MODELS AND GUIDELINES FOR IMPROVEMENTS)

  • Author(s):Marko Liubomirov Timchev
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:280-292
  • No. of Pages:13
  • Keywords:analysis; accounting analysis; balanced system; key indicators; Accounting; integrated reporting
  • Summary/Abstract:The scientific paper proposes models for improving the scientometry, methodology and organization of accounting business analysis of the enterprise. Methodological problems of information capacity, individual dynamics and models for the analysis of the key indicators characterizing the activity, financial stability and competitiveness of the enterprise are investigated. A concentric „Accounting Business Analysis in a Balanced Scorecard“ model with market positioning (SWOT), Z-Score Analysis andcompetitiveness analysis are presented. This article explores the problems of providing accounting business analysis information in a balanced scorecard through accounting and integrated reporting systems. Models of strategic maps with KPI indicators are presented, characterizing the activity at a corporate and intercompany level and by functional points of responsibility.
РОЛЯТА НА БИЗНЕС АНАЛИЗА ПРИ УПРАВЛЕНИЕТО НА СТОЙНОСТТА НА КОМПАНИЯТА

РОЛЯТА НА БИЗНЕС АНАЛИЗА ПРИ УПРАВЛЕНИЕТО НА СТОЙНОСТТА НА КОМПАНИЯТА
(THE ROLE OF BUSINESS ANALYSIS IN MANAGING THE VALUE OF THE COMPANY)

  • Author(s):Lyubomir Todorov
  • Language:Bulgarian
  • Subject(s):Economy, Business Economy / Management, Accounting - Business Administration
  • Page Range:293-303
  • No. of Pages:11
  • Keywords:Business Analysis; Value Based Management; Value Management; Cash Flows; Cost of Capital; Capital Structure
  • Summary/Abstract:The essence of value-based management (VBM) has been clarified as a modern business management concept. Attention is drawn to three main groups of factors that influence the value of the company – cash flow, cost of capital and capital structure. The main tasks of business analysis have been identified as an important tool of modern management for each of these groups. Specific approaches, models and indicators for analysis are proposed on the basis of which the impact of these factors on the value of the enterprise can be assessed. The purpose is that the results of the analysis serve to make informedmanagement decisions aimed at increasing value.
СЛЕДУЕТ ЛИ УЧИТЫВАТЬ ЗЕМЛЮ КАК КОМБИНИРОВАННЫЙ АКТИВ В ФИНАНСОВОЙ ОТЧЕТНОСТИ?

СЛЕДУЕТ ЛИ УЧИТЫВАТЬ ЗЕМЛЮ КАК КОМБИНИРОВАННЫЙ АКТИВ В ФИНАНСОВОЙ ОТЧЕТНОСТИ?
(SHOULD ACCOUNTED OF LAND BE AS A COMBINED ASSET IN FINANSIAL REPORTING?)

  • Author(s):Iryna Zhurakovska
  • Language:Ukrainian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:304-311
  • No. of Pages:8
  • Keywords:land; combined assets; natural capital
  • Summary/Abstract:The aim of the study is to determine the role of accounting and financial reporting in preserving the natural capital of the land. Global environmental problems are forcing to change the rules for accounting for all assets related to the environment, including land. The article analysesapproaches to accounting for land and environmental costs according to international financial reporting standards, and also highlights how globalization and internationalization of reporting requirements take into account the challenges of our time. It is proposed to evaluate and account for land as a combined asset that combines land as a traditional asset, and, depending on the purpose of the land, other assets (for example, biological) and ecosystem services.
ОСНОВНЫЕ АСПЕКТЫ ФОРМИРОВАНИЯ УЧЕТНОЙ ПОЛИТИКИ СОГЛАСНО МЕЖДУНАРОДНЫМ СТАНДАРТАМ

ОСНОВНЫЕ АСПЕКТЫ ФОРМИРОВАНИЯ УЧЕТНОЙ ПОЛИТИКИ СОГЛАСНО МЕЖДУНАРОДНЫМ СТАНДАРТАМ
(BASICS OF FORMING ACCOUNTING POLICIES INLINE WITH THE INTERNATIONAL STANDARDS)

  • Author(s):Irina Tkachuk
  • Language:Ukrainian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:312-319
  • No. of Pages:8
  • Keywords:accounting policy; professional judgment; financial reporting; Information; accounting
  • Summary/Abstract:Accounting policy is a constitution for the enterprise, as it is based on the formation of financial statements. And financial reporting, in turn, should be helpful to users. Accordingly, when applying accounting policies, entities that apply international financial reporting standards must take into account the specific features of this system. The study focuses on the features of accounting policies in accordance with international financial reporting standards. After choosing an accounting policy, it is worth considering how to make the financial statements of the company effective, reliable and understandable. According to International Standards, each company chooses accounting policies based on the characteristics of its activities. That is, accounting policies are useful and interesting to users, and should therefore be disclosed in a manner that meets the requirements of the financial reporting standards.
ОСОБЕННОСТИ УЧЕТА ПРОИЗВОДСТВЕННЫХ ЗАТРАТ ПО ЭТАПАХ ТЕХНОЛОГИЧЕСКОГО ПРОЦЕССА ПРИ ПРОИЗВОДСТВЕ МЯСНОЙ ПРОДУКЦИИ В УКРАИНЕ

ОСОБЕННОСТИ УЧЕТА ПРОИЗВОДСТВЕННЫХ ЗАТРАТ ПО ЭТАПАХ ТЕХНОЛОГИЧЕСКОГО ПРОЦЕССА ПРИ ПРОИЗВОДСТВЕ МЯСНОЙ ПРОДУКЦИИ В УКРАИНЕ
(ACCOUNTING FOR MANUFACTURING COSTS BY STAGES OF THE TECHNOLOGICAL PROCESS IN PRODUCTION OF MEAT PRODUCTS IN UKRAINE)

  • Author(s):Natalya Tluchkevich, Oksana Nuzhnaya
  • Language:Ukrainian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:320-325
  • No. of Pages:6
  • Keywords:costs; process steps; costing; accounting; products; process; product cost
  • Summary/Abstract:The paper focuses on some features of the methods of accounting for the production of meat products. The stages of the technological process in the production of sausages are highlighted. The application of a cost-effective method of accounting for the manufacturing costs in the production of meatproducts is justified.
ПОТРЕБНОСТ ОТ ГЕНЕРИРАНЕ И ИЗПОЛЗВАНЕ НА ИНФОРМАЦИЯТА В ОТЧЕТИТЕ ЗА ПРИХОДИТЕ И РАЗХОДИТЕ И ЗА ПАРИЧНИТЕ ПОТОЦИ

ПОТРЕБНОСТ ОТ ГЕНЕРИРАНЕ И ИЗПОЛЗВАНЕ НА ИНФОРМАЦИЯТА В ОТЧЕТИТЕ ЗА ПРИХОДИТЕ И РАЗХОДИТЕ И ЗА ПАРИЧНИТЕ ПОТОЦИ
(NECESSITY OF CREATING AND UTILIZING THE INFORMATION REPORTED IN INCOME AND CASH FLOWS STATEMENTS)

  • Author(s):Minko Velkov
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:326-334
  • No. of Pages:9
  • Keywords:balance sheet; income statement; statement of cash flows; asset; source
  • Summary/Abstract:In the paper the system of reporting statements is analysed. The place and role of the balance sheet in the accounting process is revealed. Its advantages and disadvantages are disclosed. Discussing disadvantages necessity is detected to complete the balance sheet with additional new statements that could enlarge the scale of analytical accounting information. The reasons and premises for preparing the income statement are represented in more details. In short, the reasons for establishing of cash flows statement also are given.
УСЪВЪРШЕНСТВАНЕ НА МОДЕЛА ЗА СЧЕТОВОДНО ОТЧИТАНЕ НА ФИНАНСОВИТЕ АКТИВИ В ПУБЛИЧНИЯ СЕКТОР

УСЪВЪРШЕНСТВАНЕ НА МОДЕЛА ЗА СЧЕТОВОДНО ОТЧИТАНЕ НА ФИНАНСОВИТЕ АКТИВИ В ПУБЛИЧНИЯ СЕКТОР
(IMPROVING THE MODEL OF ACCOUNTING FOR PUBLIC SECTOR FINANCIAL ASSETS)

  • Author(s):Ventsislav Vechev
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:335-340
  • No. of Pages:6
  • Keywords:budget organizations; financial assets; receivables; financial instruments
  • Summary/Abstract:The paper presents the author's ideas related to the problems of accounting for financial assets in budgetary enterprises, as well as presents opportunities for improving the adopted accounting practice.The aim is to achieve, through the problems identified and the proposals made, to increase the quality of accounting information and the transparency of financial statements prepared by budget organizations.
ФАКТОРИ, КОИТО ОКАЗВАТ ВЪЗДЕЙСТВИЕ ВЪРХУ ОПОВЕСТЯВАНИЯТА ЗА НАУЧНОИЗСЛЕДОВАТЕЛСКА И РАЗВОЙНА ДЕЙНОСТ НА БЪЛГАРСКИ ИНОВАТИВНИ ПРЕДПРИЯТИЯ

ФАКТОРИ, КОИТО ОКАЗВАТ ВЪЗДЕЙСТВИЕ ВЪРХУ ОПОВЕСТЯВАНИЯТА ЗА НАУЧНОИЗСЛЕДОВАТЕЛСКА И РАЗВОЙНА ДЕЙНОСТ НА БЪЛГАРСКИ ИНОВАТИВНИ ПРЕДПРИЯТИЯ
(FACTORS THAT AFFECTS RESEARCH AND DEVELOPMENT DISCLOSURE OF BULGARIAN INNOVATIVE ENTERPRISES)

  • Author(s):Daniela Georgieva
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:341-348
  • No. of Pages:8
  • Keywords:R&D; mandatory disclosure; voluntary disclosure; international accounting standards; Bulgarian national accounting standards
  • Summary/Abstract:Main object of analysis are the mandatory and voluntary R&D data disclosure by Bulgarian innovative enterprises. Adopted research methods are logical, deductive and comparative methods, as well as the methods of content analysis and synthesis. To test the author's hypotheses the program IBM – SPSS Statistics is used. The study of statistical relationships and dependenciesis based on the Chi – square test. The results support the development of the literature by presenting a more in-depth analysis of the factors influencing the disclosure of R&D data by Bulgarian innovative enterprises.
ИЗКУСТВЕН ИНТЕЛЕКТ И БЪДЕЩЕТО НА ФИНАНСОВАТА ИНДУСТРИЯ

ИЗКУСТВЕН ИНТЕЛЕКТ И БЪДЕЩЕТО НА ФИНАНСОВАТА ИНДУСТРИЯ
(ARTIFICIAL INTELLIGENCE AND THE FUTURE OF THE FINANCIAL INDUSTRY)

  • Author(s):Elena Stavrova
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:349-359
  • No. of Pages:11
  • Keywords:artificial intelligence; machine learning; large databases ethical treatment of accounting information; algorithm architecture
  • Summary/Abstract:Existing research has focused on traditional artificial intelligence applications – expert systems, intelligent knowledge-based systems and audit systems. Accounting science must defend its position on whether it is possible the human-machine system to make decisions thar are always neutral andsymmetrical with respect to the other participants. The conclusion is that the provocations of the environment cannot exclude the presence of the human mind, and in the end it is the last decision maker.
СЧЕТОВОДНИТЕ ПРИБЛИЗИТЕЛНИ ОЦЕНКИ В СЧЕТОВОДНАТА ТЕОРИЯ

СЧЕТОВОДНИТЕ ПРИБЛИЗИТЕЛНИ ОЦЕНКИ В СЧЕТОВОДНАТА ТЕОРИЯ
(ACCOUNTING ESTIMATES IN ACCOUNTING THEORY)

  • Author(s):Valentina Staneva
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:360-368
  • No. of Pages:9
  • Keywords:accounting valuation; uncertainty; creative practices; change in the application of accounting valuation; conservatism in accounting
  • Summary/Abstract:Accounting, as an integral part of public financial relations, follows modern trends and recommendations for the development of the economy, in accordance with the public needs and expectations of creating and presenting correct and honest accounting information in the financial statements of enterprises. Its modern development involves the use of creative practices andapproaches based on proven in theory and practice of classical accounting methods, methods and methods of analysis, evaluation and control of various facts of business, events and processes. The application of accounting estimates is a relatively new and debatable issue in accounting theory and practice. The lack of sufficient research in this area of accounting knowledge is explained by theconditions created for its ambiguous and contradictory perception by researchers, which opens the opportunity to offer new approaches to theoretical explanation. Most of the theoretical statements in this area of knowledge are due to the development of international accounting standards and their constant changes. The uncertainty caused by the interpretation of the results resulting from the useof accounting estimates in the financial statements of enterprises creates prerequisites for linking their application to manipulations in the financial statements and incorrect performance of their property and financial condition. Based on these assumptions, it is justified to conduct a restrictive tax policy aimed at preventing their use in practice. Without knowing the essence of the accounting assessment and the prerequisites for the implementation of their changes, the introduced tax restrictions limit the unjustified possibility of their use in practice. Conservatism in accounting explains the complex interpretation of applied creative practices and approaches, at the same time resistance to their practical application is most often associated with the additional load of accounting specialists in practice and the consequences of their application in the activities of enterprises.The purpose of this study is to systematize the conditions, characteristics and prerequisites for the use of accounting estimates and opportunities for implementing changes in their use on the basis of the leading theoretical concepts on the application of accounting estimates, as well as the existing system at the international and national levels in the field of accounting.
ЗАГАДКИТЕ НА МЕЖДУНАРОДНИЯ ГЕРБ НА СЧЕТОВОДИТЕЛИТЕ

ЗАГАДКИТЕ НА МЕЖДУНАРОДНИЯ ГЕРБ НА СЧЕТОВОДИТЕЛИТЕ
(THE SECRETS OF THE INTERNATIONAL COAT OF ARMS OF ACCOUNTANTS)

  • Author(s):Svetlozar Stefanov
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:369-373
  • No. of Pages:5
  • Keywords:: the coat of arms of accountants; science; conscience; independence
  • Summary/Abstract:This report attempts to examine the meaning, role and significance of one of the symbols of accounting, namely the international coat of arms of accountants. The coat of arms is the symbol of accounting and accounting professionals all over the world and makes people proud that they belong to this professional guild. It consists of three elements interpreted as follows: the sun as a sign of transparency of accounting data, scales – symbolizing the balance sheet and the curve of the Bernoulli – a symbol of the continuity of the accounting in the enterprise.
КОНЦЕПЦИЯТА ЗА ТРИСТРАННОТО СЧЕТОВОДНО ЗАПИСВАНЕ В УСЛОВИЯТА НА БЛОКЧЕЙН ТЕХНОЛОГИИТЕ

КОНЦЕПЦИЯТА ЗА ТРИСТРАННОТО СЧЕТОВОДНО ЗАПИСВАНЕ В УСЛОВИЯТА НА БЛОКЧЕЙН ТЕХНОЛОГИИТЕ
(THE CONCEPT OF TRIPLE ENTRY ACCOUNTING IN THE CONTEXT OF BLOCKCHAIN TECHNOLOGIES)

  • Author(s):Borislav Boyanov
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:374-382
  • No. of Pages:9
  • Keywords:conception; triple entry accounting; blockchain; distributive accounting ledger
  • Summary/Abstract:The innovative concept of triple entry accounting in a digital environment is examined in the paper. A retrospective study of the views on triple entry accounting has been made, as well as „momentum accounting“, which, in addition to information, also has an effective control function through the application of blockchain technology.
НЕГАТИВНО ВЛИЯНИЕ НА КЛИМАТИЧНИТЕ ПРОМЕНИ ВЪРХУ ИЗВЕЖДАНЕТО НА СПРАВЕДЛИВАТА СТОЙНОСТ НА ДОХОДОНОСНИ АКТИВИ (НА ПРИМЕРА ВЕЦ)

НЕГАТИВНО ВЛИЯНИЕ НА КЛИМАТИЧНИТЕ ПРОМЕНИ ВЪРХУ ИЗВЕЖДАНЕТО НА СПРАВЕДЛИВАТА СТОЙНОСТ НА ДОХОДОНОСНИ АКТИВИ (НА ПРИМЕРА ВЕЦ)
(CLIMATE CHANGE HAS A NEGATIVE IMPACT ON THE DERIVATION OF THE FAIR VALUE OF PROFITABLE ASSETS (EVALUATION PROFITABLE ASSETS))

  • Author(s):Kalina Kavaldzhieva
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:383-392
  • No. of Pages:10
  • Keywords:assessment; climate change; Profitable assets; fair value; market value; management; sensitive value
  • Summary/Abstract:Managers would like to present in their Financial Statements all the assets and liabilities of the Company at fair value. In order to optimize the activity of the enterprise and maximize the value of capital through adequate financial and management decisions. Main objective: When we make business analysis and evaluation more important is – when the business is successful or not; what is the value of the assets in the company's balance sheet; what is the fair value of the assets owned by the company? For some assets such as Profitable assets (Payables) (for example: Hydroelectric power plants/station), fair value is influenced by climate change. When assessing such assets, all applicable valuation standards, EVS,IVS, National valuation standards, Regulation 575, as well as the EU Directive and the Mortgage Lending Act in Bulgaria The tasks we set up are to analyze the situation in which assets work; to analyze the costs and revenues that generate those assets and to present the effect of the fair value (market value) of the profitable assets. The method applied is based on a Incoming approach, by examining in detail the generated cash flows. A problem is how to determine the subsequent measurement of the Reevaluation of Profitable Assets in the presence of climate change. The correct application of the method of deducting the value of Profitable Assets as well as the change in value as a result of climate change is of paramount importance to all stakeholders. The applicable method is: Discounted cash flow method.Main Results – Evaluate Fair / Market Value of Payables at the time of acquisition. Evaluate the Fair / Market Value of Profitable Assets as a Result of Climate Changes A number of components need to be taken into account when removing it.Conclusions The fair / market value of the Profitable Assets depends on:- the way of corporate management,- Climate change that directly affects the value of assets and the effect of the change in value in the financial statements of the company.Recommendations: In the case of a statutory return on the value of a Profitable Asset – the importance of the problem is dictated by the principle of true and fair presentation of assets / effects of climate change, the effect of activity and management on the balance sheet and, on the other hand, changedfair / market values in management reports
МЕТОДИ ЗА УПРАВЛЕНИЕ НА ПЕЧАЛБАТА

МЕТОДИ ЗА УПРАВЛЕНИЕ НА ПЕЧАЛБАТА
(METHODS FOR EARNINGS MANAGEMENT)

  • Author(s):Lilyana Kamburova
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:393-400
  • No. of Pages:8
  • Keywords:earnings management; pro-forma earnings
  • Summary/Abstract:Earnings management involves a large set of methods that help managers to guide the company's financial results in the direction of investor expectations. Earnings can be roughly divided into two components: the cash flow component and the accrual component, and the manipulation of either of these two components will affect the earnings number. Earnings can be managed both through the manipulation of real economic transactions and through accrual management. In addition to managing the financial result derived in accordance with the accounting rules, managers can guide their investors' expectations by disclosing an alternative financial result – „pro forma“ earnings.
ПУБЛИЧЕН НАДЗОР НАД ОДИТОРСКАТА ПРОФЕСИЯ – 10 ГОДИНИ РАЗВИТИЕ И ПРЕДИЗВИКАТЕЛСТВА

ПУБЛИЧЕН НАДЗОР НАД ОДИТОРСКАТА ПРОФЕСИЯ – 10 ГОДИНИ РАЗВИТИЕ И ПРЕДИЗВИКАТЕЛСТВА
(PUBLIC OVERSIGHT OF THE AUDIT PROFESSION – 10 YEARS OF DEVELOPMENT AND CHALLNGEES)

  • Author(s):Hristo Mavrudiev
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:401-408
  • No. of Pages:8
  • Summary/Abstract:The 10-year experiment of the Commission for Public Oversight of Statutory Auditors (CPOSA) in the Republic of Bulgaria is being considered. Being presented are the changes in the current legislation for the 10-year period and the problems and challenges facing the auditing profession. Being examined is the function of CPOSA to protect the public interest by monitoring the activity of the statutory auditors especially in public interest entities. Addressed is also the systemic risk in CPOSA's functions in terms of quality control of audit work. The development of the auditing profession – institutional and professional in the 10-year period is discussed. Presented are the results from a sociological survey carried out among members of the Institute of Certified Public Accountants in Bulgaria on the work of CPOSA and its impact on the quality of audit activity.
СЧЕТОВОДСТВОТО В СОЦИАЛНОТО ОСИГУРЯВАНЕ – СЕГМЕНТИРАНЕ И СТАНДАРТИЗАЦИЯ

СЧЕТОВОДСТВОТО В СОЦИАЛНОТО ОСИГУРЯВАНЕ – СЕГМЕНТИРАНЕ И СТАНДАРТИЗАЦИЯ
(SOCIAL SECURITY ACCOUNTING – SEGMENTATION AND STANDARDIZATION)

  • Author(s):Nikolina Nikolova
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:409-416
  • No. of Pages:8
  • Keywords:social security; segmentation; social security accounting; Standardization; accounting standards
  • Summary/Abstract:This report covers the specific features of social security accounting that differentiate it from the accounting of other sectors and activities. The nature and manifestation of the items of accounting, their valuation and presentation in the financial statements are clarified. The specificity of the reporting entities is considered as a prerequisite for the segmentation of the social security accounting and its classification as a separate line. It also reasons the need to develop and apply specific standardization designed for social security accounting. This plan evaluates and recommends the improvement of the accountability of insurers. Particular attention is paid to IAS 19 Employee Benefits and IAS 26 Accounting and Accounting for Retirement Plans.
ТЕХНИКИ НА КРЕАТИВНО СЧЕТОВОДСТВО

ТЕХНИКИ НА КРЕАТИВНО СЧЕТОВОДСТВО
(CREATIVE ACCOUNTING TECHNIQUES)

  • Author(s):Iavor Bachev
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:416-423
  • No. of Pages:8
  • Keywords:creative accounting; accounting techniques
  • Summary/Abstract:The paper attempts to summarize the main creative accounting techniques. The views of leading experts in this field are subject of discussion and classified. The paper also outlines the results of empirical studies on the of auditors’ and accountants’ perception about the techniques and methods of creative accounting.
ЗА СПРАВЕДЛИВАТА СТОЙНОСТ

ЗА СПРАВЕДЛИВАТА СТОЙНОСТ
(ON THE FAIR VALUE)

  • Author(s):Yasen Daskalov
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:424-432
  • No. of Pages:9
  • Keywords:Fair value; IFRS 13 Fair Value Measurement; Net present value
  • Summary/Abstract:This paper is addressed to the definition of fair value and the net present value method set out in IFRS 13 Fair Value Measurement. The emphasis is placed on decomposing the definition of fair value and deriving its key features. The introduction of a global standard leaves an equal treatment forfair value.
ЗА ПРИЧИНИТЕ ОТ ВЪВЕЖДАНЕТО НА НАДЗОР ВЪРХУ ОДИТОРСКАТА ПРОФЕСИЯ И МОДИФИКАЦИИТЕ В ОДИТА

ЗА ПРИЧИНИТЕ ОТ ВЪВЕЖДАНЕТО НА НАДЗОР ВЪРХУ ОДИТОРСКАТА ПРОФЕСИЯ И МОДИФИКАЦИИТЕ В ОДИТА
(THE REASONS BEHIND THE OVERSIGHT OF THE AUDIT PROFESSION AND THE MODIFICATIONS IN AUDIT)

  • Author(s):Diyana Bankova
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:433-438
  • No. of Pages:6
  • Keywords:control; financial audit; frauds; oversight; crimes
  • Summary/Abstract:Over the years, there have been a number of accounting frauds and abuses at the transnational level. This statement is proven by the bankruptcies of many companies. For this reason, the need for financial audit is becoming increasingly important. Only that bypassing the standards and asymmetric information in the financial statements is a serious problem. Therefore, new mechanisms are needed by the government to address these issues. Because of this, the oversight of the audit profession arises to serve the public interests. Audit modifications in recent years have focused on fraud and crime prevention. In this regard, the so-called „forensic audit“ and „criminal audit“ are used in some countries.
БИЗНЕС МОДЕЛЪТ НА ПРЕДПРИЯТИЕТО КАТО ЕЛЕМЕНТ НА СЧЕТОВОДНАТА ПОЛИТИКА

БИЗНЕС МОДЕЛЪТ НА ПРЕДПРИЯТИЕТО КАТО ЕЛЕМЕНТ НА СЧЕТОВОДНАТА ПОЛИТИКА
(THE ENTITY’S BUSINESS MODEL AS AN ELEMENT OF THE ACCOUNTING POLICY)

  • Author(s):Kiril Bashikarov
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:439-447
  • No. of Pages:9
  • Keywords:business model; financial statements; accounting policy
  • Summary/Abstract:Common meaning of the term ‘business model’ is related to the value creation process of an entity. The literature shows that there are many views on the role of the business model in financial statements. On the one hand it is considered that financial reporting based on the business model may undermine some qualitative characteristics of financial information – faithful representation and comparability. On the other hand the business model plays a significant role in the decision-making process. The report argues that the financial reporting based on the business model can facilitate the choice of anentity's accounting policy.
РАЗВИТИЕ НА ПРИНЦИПИТЕ ПО СЧЕТОВОДСТВО В БЪЛГАРИЯ

РАЗВИТИЕ НА ПРИНЦИПИТЕ ПО СЧЕТОВОДСТВО В БЪЛГАРИЯ
(DEVELOPMENT OF ACCOUNTING PRINCIPLES IN BULGARIA)

  • Author(s):Miglena Trencheva
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:448-456
  • No. of Pages:9
  • Keywords:financial statement; principle; international accounting standards
  • Summary/Abstract:Due to the increased interest of investors from different countries in the preparation of financial statements, the creation of accounting information had to be regulated internationally. This does not mean that traditions built in different countries should be ignored and denied. This report examines the accounting principles applied by our national law and the similarities / differences with international accounting standards.
АКТЮЕРСКИТЕ ОЦЕНКИ И ТЯХНАТА ЗНАЧИМОСТ ЗА ФИНАНСОВАТА ОТЧЕТНОСТ НА ЗАСТРАХОВАТЕЛИТЕ

АКТЮЕРСКИТЕ ОЦЕНКИ И ТЯХНАТА ЗНАЧИМОСТ ЗА ФИНАНСОВАТА ОТЧЕТНОСТ НА ЗАСТРАХОВАТЕЛИТЕ
(ACTUARIAL VALUATIONS AND THEIR RELEVANCE TO THE FINANCIAL STATEMENTS OF INSURERS)

  • Author(s):Simeon Grigorov
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:457-464
  • No. of Pages:8
  • Keywords:financial statements; actuaries; assets; liabilities; reserves
  • Summary/Abstract:Actuarial valuations are essential for the insurance industry. The actuaries evaluate the insurance risk – the possibility of occurrence or not of insurance events or conditions under the contracts concluded by the insurers with the insured. Through their knowledge of insurance mathematics and statistics, finance, management and analysis, they help to create insurance and investment policies that are adequate in a competitive market environment to minimize the cost to insurers of insurance risk. Actuaries analyze data to evaluate the likelihood of events such as death, illness, injury, disability, damage or loss of property, damages from incorrect decisions, liability insurance reports and opinions, and to estimate the probable cost to insurers of paying sums and indemnities, in case of liquidation of damage and insurance events. In its essence, the insurance is an activity based on probabilities. Most insurancesprotect the policyholder from the financial consequences of adverse accidental events such as death, fire or accident. Actuaries measure the risks for which insurance is made to determine their likelihood of occurrence. Actuarial valuations are closely related to the accounting of insurers. The actuaries' responsibilities are related to the correct, true and accurate pricing of the relevant insurance products, which in turn forms the sum of the insurance premiums collected or the insurer's income in general. They also determine the amount of insurance / technical / reserves required that insurers must set aside to meet future insurance policies obligations or to release at the end of the financial year. In some cases, actuaries also evaluate the assets that provide technical provisions and are responsible for choosing the insurer's investment strategy.
СРАВНИТЕЛЕН АНАЛИЗ НА АКТУАЛНАТА СЧЕТОВОДНА НОРМАТИВНА УРЕДБА В ИТАЛИЯ И БЪЛГАРИЯ

СРАВНИТЕЛЕН АНАЛИЗ НА АКТУАЛНАТА СЧЕТОВОДНА НОРМАТИВНА УРЕДБА В ИТАЛИЯ И БЪЛГАРИЯ
(COMPARATIVE ANALYSIS OF CURRENT ACCOUNTING REGULATIONS IN ITALY AND BULGARIA)

  • Author(s):Vanina Dangarska
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:465-473
  • No. of Pages:9
  • Keywords:Civil Code; Accounting Law; National Accounting Standards
  • Summary/Abstract:The purpose of this report is to provide a brief comparative analysis of current accounting regulations in Italy and Bulgaria applicable to entities that do not prepare their financial statements on the basis ofInternational Accounting Standards IAS/IFRS.
РАЗРАБОТВАНЕ И ПРИЛАГАНЕ НА СЧЕТОВОДНА ПОЛИТИКА В УСЛОВИЯ НА ДИГИТАЛИЗАЦИЯ

РАЗРАБОТВАНЕ И ПРИЛАГАНЕ НА СЧЕТОВОДНА ПОЛИТИКА В УСЛОВИЯ НА ДИГИТАЛИЗАЦИЯ
(DEVELOPING AND APPLYING ACCOUNTING POLICY IN DIGITALLY CIRCUMSTANCES)

  • Author(s):Boyko Dolenski
  • Language:Bulgarian
  • Subject(s):Economy, Business Economy / Management, Accounting - Business Administration
  • Page Range:474-479
  • No. of Pages:6
  • Keywords:accountancy policy; hierarchy of the sources; industry practices
  • Summary/Abstract:This report examines question about consistency, which it should be followed in developing and applying of accountancy policy by the management of the entity. The increasingly rapid digitalisation of the economy as a whole sometimes leads to the emergence of new reported items, for which there is a partial arrangement in the existing accounting standards or no regulation at all. This necessitates an up-to-date review and systematization of the requirements that apply to the development of accounting policy. The requirements of the two applicable accounting bases in the Republic of Bulgariaare reviewed – International Accounting Standards Adopted for Application in the European Union and National Accounting Standards. The review of the requirements of International Accounting Standards is based on the IFRS „Guide to the Selecting and Applying Accounting Policies – IAS 8“.
АКТУАЛНИ ВЪПРОСИ И ПРЕДИЗВИКАТЕЛСТВАТА ПРЕД МАЛКИТЕ ОДИТОРСКИ ПРАКТИКИ

АКТУАЛНИ ВЪПРОСИ И ПРЕДИЗВИКАТЕЛСТВАТА ПРЕД МАЛКИТЕ ОДИТОРСКИ ПРАКТИКИ
(ACTUAL ISSUES AND CHALLENGES TO SMALL AUDIT PRACTICES)

  • Author(s):Yasen Kirov
  • Language:Bulgarian
  • Subject(s):Economy, Accounting - Business Administration
  • Page Range:480-489
  • No. of Pages:10
  • Keywords:audit; audit standards; small audit practice; big ten audit practices; public interest company
  • Summary/Abstract:The report aims to clarify the concept of 'small audit practice' and to address the main issues and challenges in the audit field of the same practices. The relevance of the topic is confirmed by the ability of auditors different than the 'big ten' audit firms to enter the market segment for audits ofbanks and insurance companies. The accumulated experience of joint audits makes it possible to look at problems and their solutions. The author examines the results of the CPOSA's (Commission of Public Oversight of Statutory Auditors) inspections of 'small audit practices' and the prospects fordevelopment in the audit activity.
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