Историческа ретроспекция и тенденции в развитието на Националните счетоводни стандарти в България
The article presents the origination, the development, the application and the perspectives of the National Accounting Standards in Bulgaria.
More...We kindly inform you that, as long as the subject affiliation of our 300.000+ articles is in progress, you might get unsufficient or no results on your third level or second level search. In this case, please broaden your search criteria.
The article presents the origination, the development, the application and the perspectives of the National Accounting Standards in Bulgaria.
More...
Under the conditions of global health crisis due to the announced pandemic of COVID-19, the economic relations under the conditions of digitalization have developed rapidly at global level. Certified public accountants – registered auditors have to answer an important question, which has become their key objective, and namely: ‘How should they perform the independent financial audit of insurers’ financial statements under the conditions of digitalization, in order to keep the main objective and task of the audit, how to justify their audit opinion and how to prevent the appearance of individual errors, misstatements and bad audit practices?’ In order to achieve this objective under the conditions of digitalization of the independent financial audit, registered auditors need to use specific approaches, procedures, methods, rules and audit standards, other than those they already know and apply, which however should not be in violation of the established quality standards developed on the basis of the International Accounting Standards (IAS) and the International Code of Ethics for Professional Accountants. Due to the development of globalization and the merger of insurance markets as a result of the new international regulation regimen of the insurance business and the changed national requirements of the state insurance supervision under the conditions of global health crisis, the registered auditors face the need to design new, digitalized methods and methodology for performance of independent financial audit of insurers’ financial statements.
More...
Digital transformation is a strategic issue related to the use of various digital tools and technologies, such as scanning, computer networks, internet, satellite, social media, etc. These allow to process, store and transfer information to the users, irrespective of their location. Digitalization gives entities the opportunity to develop new and to build-up existing processes. In the existing situation of pandemic, healthcare and economic crises due to COVID-19, digitalization becomes a first ranking priority for many entities. This is due to the fact that by means of digitalization of the business processes in their activity, entities have the objective ability to overcome the dependence on their geographic location and the remoteness of suppliers, customers and markets. Thus, entities are able to develop timely and adequate measures upon the occurrence of negative trends in the development of the dynamic and competitive market that is characterized with some degree of entropy. This publication explains the nature of digitalization, the advantages of its introduction, as well as the requirements in the process of entities’ digitalization. In this context, it highlights some opportunities for application of digitalization in the field of accounting and financial and business analysis of the entities.The specific object of study covers the opportunities for digitalization of the cash flow analysis on the basis of the entity’s statement of cash flows. The publication outlines the options for binding the information in the statement of cash flows with the cash flows analysis methods. Thus, information provision, analysis methods, analysis results and management decision-making process may be connected in a common system. The cash movement data from the business plan – in aggregate and by types of entity’s activities, may be successfully inbuilt in this system.
More...
For the periodic presentation (recognition) of the elements, such as assets, liabilities, equity, income and expenses, the insurance companies prepare general purpose financial statements. General purpose financial statements (or financial statements) are those that aim to meet the needs of users who are not in a position to request statements and that they meet their specific information needs. The main purpose of the report is to investigate and present the trends in the presentation of financial statements of insurers in Bulgaria, after 1989, when country accepts market economy. The main characteristics of the financial statements of the insurers per respective period is outlined. The methodology used includes a review of the legislative framework and practice in presenting the financial statements of insurers per period. Based on the historical-logical analysis, the main characteristics of the financial statements of insurers are formulated. The main conclusion is that the dynamically developing socio-economic relations affect the standardization of general-purpose financial statements of insurers, with a trend to extra complicate and increase the requirements for their presentation.
More...
The purpose of the report is to summarize two of the most important provisions introduced by the Italian legislator in 2020, directly affecting the preparation of the financial statements of companies that do not apply international accounting standards. These provisions temporarily revolutionize the concept of financial statement, transforming it from a document providing information about financial position of the entity into an instrument of economic policy, aimed at artificially maintaining the activities of entities, even if there are no real prerequisites for its continuation.
More...
The current work considers the characteristics and the specifics of the accounting system of the state budget with accent on the the necessity of accounting information for the action of the state budget. The aim of the study is to present the current normative regulation and organization of the accounting system of the state budget. The essence and the function of the state budget are presented. The normative regulation of the accounting systemof the state budget is analized and the key role of the accounting by the maintenance of the fiscal policy. The research methodology is based on the general principles of knowledge, applying the historial – logical method, the methods of analysis and synthesis, comparability, normative approach, systematic approach.
More...
Actuaries have always played an important role in providing effective management systems. In fact, the role of actuaries is becoming even more important than ever in the digital age. Today, insurance companies have to deal with huge amounts of data and ever-changing techniques for their analysis. Actuaries have extensive experience in data management and analysis and can therefore provide a quality measure through expert technical advice at a time when this is needed more than ever. In addition, due to their strong analytical capabilities, actuaries can play an important role in new digital ecosystems by providing expertise in modeling and optimizing forecasts to support faster and smarter business risk solutions in all industries.
More...
This essay aims to review the appropriate use in practice and audit of the going concern principle in the context of the Kovid-19 pandemic; the need for analytical reporting and disclosures related to government grants; review and analysis of future processes in accounting and auditing related to integrated reporting and the European single electronic format; the possibilities of preliminary control and the good practices in the audit oversight.
More...
The role of the intangible assets as resources of the enterprise is growing in the current socio-economic situation as they occupy an increasing share of the enterprise’s assets. This is especially true for the enterprises in various creative, cultural and technological sectors of the economy, where the intangible assets play a major role. In this regard, the importance of profitability analysis and valuation of the fixed intangible assets is growing. In the case of profitability, we present profitability indicators calculated based on fixed intangible assets with their respective detailing. It is also proposed to determine the fair (market) value of the fixed intangible assets in the calculation of profitability to obtain real profitability. Two methods specific to determining the fair value of the fixed intangible assets are considered.
More...
The plenary report presents a retrospective of online learning as a component of distance learning. The question of academicism and digitalization in accounting training is raised. Emphasis is placed on the requirements for high quality and consumer assessment in accounting training. The question of the hygiene of reading in the Internet is raised, provoked by some wrong formulations and definitions, models, methodologies contained in the vast flow of information. The advantages and disadvantages of online learning are structured and the question of choosing a strategy between the virtual university and the traditional academic training combining the possibilities and effects of certain online components is raised.
More...
The global development of the monetary and financial system has evolved over different historical periods. Increasingly, the subject of discussions among economic subjects are the ways to increase their financial well-being through investments in the financial markets. One of the most preferred ways to preserve and increase the financial wealth of individuals is investments in precious metals, in this case – gold, which are realized in specialized financial markets for raw materials. In this regard, the subject of discussions and analyzes in the present development is gold, as an element of the financial markets and a way of investing, and the subject is emphasized on regression analyzes related to its price values and author’s forecasts for future periods.
More...
The purpose of this paper is to estimate whether portfolio diversification is feasible in the capital markets of the Netherlands (AEX), France (CAC 40), Germany (DAX 30), Canada (FTSE 100), Italy (FTSE MIB), Spain (IBEX 35), Russia (IMOEX), and the commodities oil (WTI), silver (XAG), gold (XAU), and platinum (XPT) from January 1st, 2018, to December 31st, 2022. The goal of this analysis is to answer the following question, namely to know if: i) the 2020 and 2022 events accentuated the integration between capital markets and commodities (WTI), silver (XAG), gold (XAU), and platinum (XPT)? The results show that during the Tranquil period, the markets present 41 integrations (in 110 possible), with the French price index (CAC 40) integrating the most with its peers, with 8 integrations (in 10 possible), while the commodities markets present the lowest integrations, with silver (XAG) presenting the most relevant number of integrations (2 in 10 possible) and platinum (XPT) showing only 1 integration (in 10 possible). Oil (WTI) and gold (XAU) have not integrated with any of their peers during this period of tranquillity. During the period of the 2020 and 2022 events, there were 60 integrations in 110 possible. According to the results and when compared to the previous sub-period, the capital mar¬kets maintained/decreased the same number of integrations with their peers. Silver (XAG) and platinum (XPT) also showed an increase in the number of integrations. XAG exhibited 5 integrations (out of a possible 10), whereas platinum (XPT) had 7 integrations (out of 10 possible). Gold (XAU) was the only commodity that remained completely segmented from both the capital markets and the commodities under consideration. To answer the diversification question, there is evidence that the gold market (XAU) exhibits safe-haven characteristics during the 2020 and 2022 events; these findings are relevant for individual and institutional investors operating in these financial markets.
More...
The study of the changes between the Energy Fuels Index, S&P Global Clean Energy Index, iShares Global Clean Energy ETF, iShares Global Energy (SWX) ETF, as well as the changes in the prices of crude oil (BRENT), gold (DJ), and natural gas (DG) was deemed extremely relevant given the importance and emergence of clean energies in the global landscape, as well as the need to develop more empirical studies, especially confirmative studies on the financial dynamics in these markets. The daily returns under analysis exhibit negative and leptokurtic asymmetry rather than a normal distribution. Comparatively, the pre-crisis linkages between the markets for dirty and clean energy are in favor of global portfolio diversification since those low levels of dependence are appropriate to reduce investor exposure to risk. The crude oil market already exhibited a significant effect on the clean energy markets during the Stress subperiod, particularly on the Clean Energy Fuels Index, the iShares Global Clean Energy ETF, and the iShares Global Clean Energy (SWX) ETF. It should be highlighted that the clean energy markets have also increased their impact on the markets for gold and dirty energy (crude oil and natural gas). The findings point to an increase in comovements between the examined indices and the events of 2020 and 2022. These results decrease the possibility that clean energy markets will serve as a portfolio diversification substitute for the gold and dirty energy markets. For investors and financial analysts who are interested in understanding how the various sectors of the energy market interact, these results may also have consequences. These results can enable a more precise forecast of energy market trends and more informed investment decisions by offering a more detailed knowledge of the link between clean and dirty energy prices.
More...
This paper examines the economic growth stability in the Group of Seven (G7) (France, Germany, Italy, the United Kingdom, Japan, the United States, and Canada). Investment in unmanned aerial systems in agriculture can be observed as an important factor of economic growth. The basic aim of this paper is to create a relatively simple chaotic economic growth model. The share of investment that is used for unmanned aerial systems in agriculture is an important factor of economic stability in the Group of Seven ( G7) in the period 1990-2023.
More...
Today’s climatic, ecological, and social challenges impose pressure on decision-makers to provide systemic solutions in all areas of business, including agribusiness. The changes that take place within the domestic regulatory framework need to be harmonized with the international legal framework of the sustainable development of the European Union. This will directly affect new solutions for achieving the goals of sustainable development. Modern livestock farms imply the use of modern agricultural mechanization following BAT techniques. The application of the principles of BAT techniques should be included in all stages of the production process on the farm. This includes planning, operation, maintenance as well and closing the farm according to acceptable technical and economic conditions, all to achieve the highest possible level of environmental protection. This work aims to point out the importance of BAT techniques in agribusiness through the prism of sustainable development in the Republic of Serbia. The first part of the paper analyzes the impact of global trends on agribusiness in Serbia. The second part indicates the importance of applying BAT techniques for sustainable development, while the third part of the paper examines the possibility of applying BAT techniques from the aspect of animal husbandry.
More...
In an inter-connected world, having strong interdependencies, the transfer of know-how represents a blueprint for development. In a transition from global to local, in order to stimulate the challenges of local development, it is paramount to understand how to act, to connect civil society with local authorities, and to create a dynamic and multi-stakeholder dialogue. Development at the local level could lead to a more engaged civil society and more predictable governance from the local authorities; for example, developing a comprehensive set of policies could contribute to a food-secure population, but also tackle issues related to transparency and accountability. The practical experience of the author in Gabon and Sao Tome and Principe will bring an innovative and original approach to complement the existing literature with the reality of the project cycle on the ground, in two specific areas such as agriculture and good governance.
More...
Agricultural production represents a significant financial and economic value of the Serbian economy. Today’s food crisis has shown the importance of agribusiness for the economic development of both, countries in transition and Serbia. Therefore, modern management approaches, in the sphere of agribusiness, are gaining more and more importance. A large number of agricultural enterprises in Serbia derive part of their value from the strength of the brand they produce. That is why agricultural managers strive to increase the value of the company, through increasing the value of the brand. As the modern economy bases value on the customer, it is important to look at and determine the parameters of the company’s value, through brand valuation. There are numerous examples of branded agricultural and food products in Serbia. These are traditional products, with a quality mark, made from high-quality domestic raw materials, according to a unique recipe and technological procedure. Such products usually have a mark of geographical origin and have recognizable characteristics. It adds value, that is realized, by selling on the market. In Serbia, the most common brands are the following products: meat, cheeses, wines, beers, water, honey and many other products obtained by processing domestic fruits and vegetables. Therefore, the goal of this paper is to determine the importance of the financial valuation of the brand in agribusiness in Serbia. In this paper, research was conducted based on data analysis through the synthesis of theoretical and empirical facts. From the methodological side, the work is based on the desk method of research, which covers synthesis, analysis, deduction and induction, but also methods of description of published scientific works, texts and documents related to brand valuation in agribusiness. In addition, the collected data were systematized. After the introduction, the paper primarily discussed the importance of product branding. The importance of the financial valuation of the brand in Serbia was analyzed with a focus on its financial effects, as well as the importance of product branding in Serbian agribusiness. At the end, a conclusion is given.
More...
Land consolidation (LC) is a complex process conducted to rearrange the land property, or more precisely, rearranging the parcel shape and position including optimization of roads and irrigation systems. LC includes a lot of activities provided in a very sensitive and unpredictable environment because it deals with land property and land owners (farmers) who could behave in concordance with their perception of land property value and their value system. Bearing in mind the long period of land consolidation projects, the land owners could change their initial opinion formed at the beginning of land consolidation projects’ realization. All these facts additionally increase the complexity of the land consolidation process. The lack of literature in the domain of leadership and management during the land consolidation process inspired authors to open discussion about that issue.
More...
The COVID-19 pandemic has initiated some of the most radical changes in the way people perform their jobs – the global lockdown in April 2020 and the request for physical distancing have pushed many employees out of their offices back to their homes. Although remote work has been on the rise since the 1970s, ever since the development of information-communication technology enabled knowledge workers around the globe to work away from the office as a telecommuter (Allen et al., 2015), for many employers the shift to remote work during the pandemic was like an experiment, or as International Labour Organization stated “the most extensive mass teleworking experiment in history” (ILO, 2020, p. 1). Many speculate that this has forever changed how and where people work and that it would become the “new normal” after the pandemic (Williamson et al., 2020).
More...
The assumption of transition theory underlines that society changes in a rather evolutionary and organic way to a certain development. Although transitions are characterized by non-linear behaviour, the process itself is gradual, spanning one or two generations: predevelopment, take-off, breakthrough, and stabilisation (Voss et al., 2006). However, uncertainties during the last ten years in Lithuania and beyond enhanced the development of system thinking in terms of resilience, which has become central to the transition concepts.
More...