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Total Adopted Standards in the Field of Green Financing

Общо приети стандарти в областта на зеленото финансиране

Author(s): Rumen Angelov / Language(s): Bulgarian / Publication Year: 0

Keywords: standarts; green financing

Green finance is one of the many terms used to describe activities on the two-way interaction between the environment and financial investment. It has become increasingly known as an expression over the last decade for the reasons of many national green investment banks and all the growing green debt markets. Green finance is directly related to concepts such as climate finance and sustainable financing.

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Regulation and Control in Banking Institutions of Climate And Enviromental Risks

Регулиране и контрол в банковите институции на климатичните и екологични рискове

Author(s): Rumen Angelov / Language(s): Bulgarian / Publication Year: 0

Keywords: regulations; control; banks; climate risks

Banks are under increasing pressure to implement working mechanisms to control climate risks and to support the socio-economic cause of sustainable development. This pressure comes from two sides, one with governments through new regulations and the other with investors aware of the threat to the bank’s assets.Banking regulators around the world are adopting new rules to limit openness to climate risks and require stress tests to be conducted soon.

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Investigating the propensity to consume leasing services in the context of COVID-19

Изследване склонността към потребление на лизингови услуги в условията на COVID-19

Author(s): Sylvia Zarkova,Bilyana Damyanova / Language(s): Bulgarian / Publication Year: 0

Keywords: financial sector; leasing; consumption; COVID-19

The financial sector and the trade industry are experiencing an unprecedented change as a result of the economic consequences of the COVID-19 pandemic. It acts as a major constraint on financial services, in particular leasing, as the need for services decreases significantly. Market dynamics and the implementation of a regulatory framework at European and national level in the form of a moratorium pose a serious challenge to both the industry itself and leasing consumers. As a result of the present study, proposals have been made for taking measures that could have a positive impact on the financial sector and related leasing companies.

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Understanding Climate Risks: A Banking Perspective

Understanding Climate Risks: A Banking Perspective

Author(s): Panagiotis Mavridis / Language(s): English / Publication Year: 0

Keywords: banking sector; climate risks; financial regulation

Climate change effects on financial assets, either from natural disasters or shifts in policy and technology, can no longer be disregarded. Despite the fact that most countries have committed to the 2015 Paris Climate Agreement, the great majority of private and public financial capital is still being allocated to economic activities that are deviating from this direction or worse in some cases are in opposition to those goals. How much of a risk does this discrepancy pose for financial institutions and in particular, for financial stability? This paper aims at presenting key points on a banking perspective of climate risks.

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Analysis of the Factors Influencing the Profitability of the Banking Sector in Times of Crisis

Анализ на факторите, влияещи върху рентабилността на банковия сектор в условията на криза

Author(s): Raya Dragoeva / Language(s): Bulgarian / Publication Year: 0

Keywords: banking sector; analysis; profitability

The activity of the banking sector is essential for the economy. On the one hand, a strong banking sector contributes to greater financial stability and increases the resilience of the economy to adverse macroeconomic shocks. On the other hand, changes in macroeconomic conditions have an impact on the results and financial condition of banking institutions. This twofold relationship determines the importance of financial indicators as a tool of analysis. The purpose of the study is to analyze the factors influencing the activities of banks, in particular the return on assets, after the crisis in 2008 and during the covid crisis.

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Impact of Taxes in Conditions of Economic Crisis – Macroeconomic Effects

Въздействие на данъците в условията на икономическа криза - макроикономически ефекти

Author(s): Svetlana Avrionova / Language(s): Bulgarian / Publication Year: 0

Keywords: tax policy; taxation; COVID-19; economic crisis

History has examples of problems in the functioning of the economy of various origins, which in the conditions of open economy in the modern world (and in the past by the trade routes), carry their negative consequences at regional and even global level. In these cases, government spendings in response to the crisisis are rising, and the state is fulfilling its function of stabilizing economic activity. At the beginning of 2022, in the conditions of the fading pandemic of COVID-19, a new situation of emergency arose (the war in Ukraine), whose negative effects on countries not only in the EU are already a fact. In the context of these realities, the aim of this report is to identify the regulatory function of taxation in the process of conducting tax policy in times of economic crisis through the study of world scientific knowledge. The study summarizes the view that the importance of taxes as an economic stimulant and stabilizer is ambiguous, but tax policy can be effectively implemented in the process of public finance management, and in particular in crisis situations.

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Methodology for Analysis of Profit From Sale of Products

Методика за анализ на печалбата от продажби на продукцията

Author(s): Krastyo Chukov / Language(s): Bulgarian / Publication Year: 0

Keywords: methodology; analysis; profit; direct factors

This publication studies the profit from sale of products. It is aimed at developing and suggesting a methodology for analysis and assessment of the impact of individual direct factors on the dynamics of this indicator. Profit from sale of products is formed under the impact of direct and indirect factors. Direct factors have immediate effect on the formation of profit dynamics as a resultative indicator and such effect may be quantified. This is due to the fact that there is precisely determined mathematical dependence between the direct factors and the profit as an object of the analysis. Indirect factors refer to introduction of new technologies and items, increase of pro duction capacities of fixed tangible assets and improvement of the level of their extensive and intensive use, increase of efficiency of labor, etc. The impact of indirect factors is expressed through the direct factors.The updated methodology developed and suggested in this publication enables the identification and assessment of the impact of direct factors on the deviation between the actual and benchmark value of profit from sale of products. These factors are: 1) changes in the volume of sales; 2) changes in the expenses for principal activity; 3) changes in the expenses for sale of products; 4) changes in the administrative expenses; 5) changes in the sales prices; 6) changes in the product range structure.

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Tax Regulation of the Financial Result in the Transport Enterprise

Данъчно регулиране на финансовия резултат в транспортното предприятие

Author(s): Valentina Staneva / Language(s): Bulgarian / Publication Year: 0

Keywords: tax regulation; corporate tax; financial result; tax differences; transport company

The free movement of people, goods and capital is a fundamental foundation for the existence of the European Union. After the accession of the Republic of Bulgaria to the European Union (EU), the processes for harmonization of the national with the Community legislative acts started. Since the beginning of 2007, the Corporate Income Tax Act (CITA) has been in force in Bulgaria. Through changes in the law, special sections have been introduced to transpose specific rules and requirements related to EU law.The purpose of this report is to analyze the applied tax regulations in the formation of the financial result with a focus on the activities of transport companies in the Republic of Bulgaria.

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General and Special in the Accounting Policy of the Non-Profit Legal Entity

Общото и особеното в счетоводната политика на юридическото лице с нестопанска цел

Author(s): Atanas Atanasov / Language(s): Bulgarian / Publication Year: 0

Keywords: accounting; accounting policy; non-profit legal entity; non-profit enterprise

The paper outlines and argues the general characteristics and peculiarities of the accounting policy of the non-profit legal entity. Emphasis is placed on the normative regulations, the content and the scope of the individual accounting policy as a basic internal normative document for each enterprise, incl. and for the non-profit legal entity in the effective (fully) construction and operation of its accounting system. In conclusion, the study concludes that the outlined characteristics and features undoubtedly predetermine the fundamental and important role of accounting policy for any non-profit legal entity.

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Principle of Independent Market Relations Compliance in the Context of Transfer Pricing – Guidelines for Research

Съответствие с принципа на независимите пазарни отношения в контекста на трансферното ценообразуване – насоки за изследване

Author(s): Desislava Yosifova,Kiril Angelov / Language(s): Bulgarian / Publication Year: 0

Keywords: principle of independent market relations; transfer pricing; multinational economic groups; related and independent persons

The principle of independent market relations is an international standard in transfer pricing applied by OECD member countries (Organization for Economic Co-operation and Development) to multinational economic groups for tax purposes.The OECD model of double taxation avoidance agreements requires the definition of independent market relations by the OECD, which forms the basis of bilateral double taxation agreements adopted by OECD member countries, as well as a growing number of non-member countries.This principle ensures equality in the tax treatment of multinational companies and independent enterprises. It lays down an equal footing in terms of tax objectives for related and independent entities. It prevents the creation of tax advantages or adverse effects that would otherwise distort the relative competitive positions of the two groups of tax subjects.

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Investments in Financial Assets, Subject to Reporting by Insurance Companies

Инвестиции във финансови активи, обект на отчитане от застрахователните дружества

Author(s): Atanaska Filipova-Slancheva / Language(s): Bulgarian / Publication Year: 0

Keywords: insurance companies; investments in financial assets; IFRS 9 Financial Instruments

Based on the fact that the investments of insurers are mainly in securities, any change in the accounting rules for reporting of financial assets will have a significant impact on the activities of insurers. In the initial application of IFRS 9 Financial Instruments, insurers‘ financial assets should be reviewed in terms of their proper classification into specific categories based on the objectives of the business model in which the financial assets are held and their agreed cash flows. That is why the purpose of this study is to present in general the implementation approach of the standard by insurers, while distinguishing the following five phases (stages): development of accounting policy regarding the reporting of financial assets; establishment of a system of accounts for the reporting of financial assets; reclassification of financial assets in view of the transition to the standard; calculating the effect of reclassification of financial assets; presentation and disclosure of the applicable accounting base and the effects of the transition process. Through an analysis of financial instruments investments of the Bulgarian insurance system for the period 2020 – 2021, the specific provisions arising from the transition to the new standard is presented.

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Specific Principles, Approaches and Methods for Measurement and Recognition of Insurers’ Assets and Liabilities

Специфични принципи, подходи и методи за оценка и признаване на активите и пасивите на застрахователите

Author(s): Maia Natchkova / Language(s): Bulgarian / Publication Year: 0

Keywords: insurers; assets; liabilities; measurement; recognition

The specific principles, approaches and methods for measurement and recognition of insurers’ assets and liabilities are provided for in their accounting policy in strict ob servance of the International Accounting Standards/ International Financial Reporting Standards (IAS/ IFRS), Directive 2009/138/ЕC (Solvency II), in accordance with the Ac counting Act, the Code of Insurance and the relevant legal regulations of the state insur ance supervision authority. The calculation of the best estimate of insurers’ assets and li abilities is based on relevant and reliable information and realistic assumptions with the use of appropriate actuary and statistics methods. The best estimate calculation requires the use of deterministic methods based on observed history data to which no simulations have been applied, which suggests the use of stochastic methods. The purpose is to avoid any data authenticity and suitability-related restrictions arising from the various insur ance products offered and from the various risks covered by the insurers.The object of this study covers the specific principles, approaches and methods for measurement and recognition of insurers’ assets and liabilities, and its subject covers the insurers’ abilities to develop internal procedures and rules that ensure that data used for the measurement and recognition of their assets and liabilities are appropriate, full, reliable and meet the legal requirements.

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Guidelines and Models for Improving of Accounting Business Analysis in a Balanced System of Indicators

Насоки и модели за усъвършенстване на счетоводния бизнес анализ в балансирана система от показатели

Author(s): Marko Liubomirov Timchev / Language(s): Bulgarian / Publication Year: 0

Keywords: accounting analysis; efficiency; balanced scorecard

The scientific report offers guidelines and models for improving the scientometrics, methodology and organization of accounting business analysis of the enterprise. Problems and models for analysis of key indicators characterizing internal business processes and efficiency are studied. A concentric model of accounting business analysis in a balanced system of indicators with possibilities for modification is proposed. Models and methods for marginal cost analysis, analysis of financial strategy and analysis of the dependence “Costs – Volume – Profit” in a balanced system of performance indicators are presented.

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Orthodox Church of St. Paraskevi in Blansko

Ortodoxní kostel svaté Paraskevy v Blansku

Author(s): Roman Malach / Language(s): Czech / Publication Year: 0

Keywords: Church of St. Paraskevi; transfer of buildings; Carpathian sacral buildings; Carpathian Ruthenia; Blansko;

The article pays attention to the circumstances connected with transfer of the small wooden church of St Paraskevi and its building development. Originally, this church of Marmaros type used to stand in the village of Nižné Seliště in today’s Ukraine. It was built in the mid- 17th century. In the 1930s, it was transferred to the town of Blansko in the South-Moravian Region. The church was ceremonially consecrated on 23 May 1937. As compared to its original location, remodelling made in the new place influenced the appearance of the church. Significant constructional changes were made especially after the Allied bombing of Blansko in May 1945 when the church was significantly damaged. The building is administrated by the Czechoslovak Hussite Church and despite many interventions, it has kept its historical character. The church is one of the most important cultural monuments in the region.

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Restoration of the wooden church of St. George in Trnovo

Obnova dreveného kostela sv. Juraja v Trnovom

Author(s): Miloš Dudáš / Language(s): Slovak / Publication Year: 0

Keywords: wooden church; St. George; serious disrepair; restoration; renovation; cribbed construction; painted ceiling;

Church of St. George in Trnovo near the town of Žilina belongs to the group of Slovakian oldest wooden churches built at the turn of the Middle Ages and modern times. We do not know the exact year of construction of this simple building with a rectangular cribbed nave, a sanctuary, and a tower with pillar-and-beam construction, annexed later on. As to the tree-ring dating, the church was built in about 1615. When the believers built a new masonry church nearby in 1995, the old wooden one remained unused and without corresponding care. Its constructional and technical condition became significantly worse and the church was in the danger of ruining. After a long-time preparation and with ample governmental support, restoration of the church, unique and extraordinary as to its extent, was running from 2010 until 2012. The complex restoration was to preserve as many original elements and details as possible. The church was thoroughly surveyed, marked, and dismantled. After that, it was transferred to Eastern Slovakia and there it was restored by experienced master carpenters and other artisans. They cleaned and conserved the original wooden elements in particular, supplementing the missing or damaged ones with prostheses and fillings.

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Artistic values and ideogram on forged crosses on sacral objects in the vicinity of Bardejov

Výtvarné hodnoty a ideogram na kovaných krížoch na sakrálnych objektoch v okolí Bardejova

Author(s): Martin Mešša / Language(s): Slovak / Publication Year: 0

Keywords: cross; blacksmith’s works; Christian signs; Christian symbolic; Bardejov; sacral architecture;

In north-east Slovakia, complex as well as simply-forged crosses have survived at sacral buildings and in museum collections. Craftsmanship and artistic sense of the blacksmiths in the 17th to 19th century made from forged crosses, placed on churches, bell towers and chapels an interesting picture of folk plastic art, which however was conditioned by theological teaching, regulated, and controlled by church dignitaries. The basic types of crosses are enriched by a lot of other symbols and signs crafted as one unit. Some forged crosses can be found at their original place and in their original function even today, some others are not complete, or crosses of the basic shape replaced them later, because the signs and symbols gradually lost their importance in human mind or because the Christian learning and its interpretation changed. The basic types of crosses, the signs used and the symbolism of the crosses and combinations thereof say something about the time of their origin. The applied signs created an ideogram, but mostly more ideograms connected into one unit. Every forged cross not only is a set of signs or ideograms, but – to a certain extent – also an artistic element making the whole building complete.

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Wooden bell towers in western Moravia and their construction development

Dřevěné zvoničky na západní Moravě a jejich stavební vývoj

Author(s): Miroslav Válka / Language(s): Czech / Publication Year: 0

Keywords: Wooden small bell towers; bell towers; Western Moravia;

As to sacral building, ethnography (ethnology) devoted itself especially to timbered churches and small sacral buildings that were an integral part of rural countryside and country seats since the 18th century. In the Czech professional literature, devoted to the above issue, a terminology problem appears which is connected with confusing the terms “zvonice – bell tower” and “zvonička – small bell tower”. Independent tower-like buildings to hold bells, which have been a part of church areas from the Middle Ages, should by called “zvonice- bell tower”, but small structures and constructions in villages, built especially in connection with the so-called “Fire Patent” of Maria Theresa (1751), should be called “zvonička – small bell tower”. Because of the importance and occurrence, many researchers devoted themselves to the above cultural phenomenon in the Czech lands. In our contribution, we deal with small bell towers in Western Moravia based on field researches made about 2005.

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Wooden bell towers in eastern Moravia

Dřevěné zvonice a zvoničky na východě Moravy

Author(s): Věra Kovářů / Language(s): Czech / Publication Year: 0

Keywords: Bell tower; prism; half-conical roof; small bell; timbered construction; shingle; tragic event; fire; prayer; ringing by hand; maintenance; restoration of monument; community ownership;

In the East of Moravia, we encounter wooden bell towers and small bell towers. The objectives of their origin are both religious and utilitarian, that means that the bell hung in the belfry informed the local inhabitants about the times during the day, intended for prayer, as well as about unforeseeable and tragic events, deaths, fire. The most bell towers are of timbered construction made by local carpenters, and a shingled roof. It is the local authority that takes care of the condition and maintenance of the bell towers as well as of their surroundings, verdure, and flowers.

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Stories of wooden sacred monuments in Podluží

Příběhy dřevěných sakrálních památek na Podluží

Author(s): Jitka Matuszková / Language(s): Czech / Publication Year: 0

Keywords: Podluží; Dolní Bojanovice; František Vymyslický; picture; wooden-carved cross;

The author describes some wooden sacral buildings in the ethnographic area of Podluží – popular wooden pillars with a picture of a saint, and explains the history thereof. The focus of the work is on cultural connotation of three wooden-carved crosses by František Vymyslický from the village of Dolní Bojanovice.

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Wooden and half-wooden small sacred objects in the photo collections of the Ethnological Institute of the Academy of Sciences in Prague

Dřevěné a polodřevěné drobné sakrální objekty ve fotosbírkách Etnologického ústavu Akademie věd v Praze

Author(s): Dana Motyčková,Kateřina Sedlická / Language(s): Czech / Publication Year: 0

Keywords: photo-documentation; sacral buildings; folk culture; ethnographic society;

Wooden and half-wooden sacral buildings, including small sacral constructions, can be found in more funds in the photo-archives at the Institute of Ethnology AS CR, v.v.i. The focus of the contribution is on the funds titled Listing Research of the Czechoslovak Ethnographic Society, which is a result of a large field research made by the Ethnographic Society between 1952 and 1962 under the organization of Karel Chotek and Vilém Pražák. Originally, the research was aimed at the study of the Czech folk culture as a whole; later on, for the time and financial reasons, it focused mainly on the documentation of folk architecture, especially that in the borderlands or regions endangered by mining, hydraulic structures etc.

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