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Farming sustainability—interactions of economic, environmental and social dimensions

Author(s): Aleksander Grzelak,Michał Borychowski,Jakub Staniszewski,Anna Matuszczak / Language(s): English Publication Year: 0

The conviction that farm development depends not only on the economic dimension but also on the environment as well as the social dimension, is increasingly widespread. The purpose of this study was to assess the interaction between the economic, social and environmental fields of agricultural activity and to identify cause-and-effect relationships between the aforementioned dimensions on the basis of family farms in Wielkopolska. The study was based on a literature review and the results of surveys conducted among 120 farms in the Wielkopolska region of Poland. Having applied structural equation modelling analysis, the authors discovered that there are significant mutual positive relations between the economic, social and environmental spheres in the analysed farms. Thus, those relationships can be complementary to each other. The presented research indicates the need to always consider agriculture as a broad and complex economic, social and environmental system, as the European Union already does, and to adjust policies according to the region’s peculiarities and its unique features. Simultaneously, one should aim to achieve multiple and diversified goals in agriculture.

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The circular economy implementation in the food system—the life cycle perspective

Author(s): Joanna Witczak / Language(s): English Publication Year: 0

The circular economy concept aims to create value for society and the economy while reducing environmental impacts. The circular economy is based on three principles driven by design—eliminate waste and pollution, circulate products and materials (at their highest value), and regenerate nature. These principles can be applied to the food system, across all aspects of food design, from product concept, through ingredient selection and sourcing, to packaging. In order to assess the environmental load of any process or product in the food system, life cycle based-tools should be applied, since it can be beneficial and has potential for providing a holistic approach. This paper summarises the life cycle-based tools that have potential for complimenting the circular economy implementation in the food system. Based on that, the study identifies the current challenges as well as benefits and life cycle-based tools potential for providing a holistic approach that could strengthen available circular economy solutions.

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Sustainable management of fruit waste production

Author(s): Alfred Błaszczyk,Sylwia Sady,Bogdan Pachołek / Language(s): English Publication Year: 0

The main goal of this paper is to review sustainable strategies presented in the literature for managing fruit processing by-products according to the circular economy, which could be useful for companies. In the food processing of fruits, the waste can be utilised directly or indirectly. The direct utilisation of fruit waste does not ensure full valorisation and does not fully minimise the environmental impact. The most sustainable management for the full valorisation of fruit waste according to the circular economy is the indirect utilisation, which requires an energyintensive drying process before the biorefinery approach. Sustainable Development Goal (SDG) 12.3 promotes the reduction of food waste and food loss throughout the supply chain to achieve sustainable development by 2030, especially at retail and consumption levels. The fruit processing industry produces large amounts of by-products, mainly removed by landfilling or incineration. However, these methods cause emissions of carbon dioxide, methane and ammonia, and release dioxin into the environment. In addition, it causes a loss of valuable biomass and nutrients and an economic loss. The sustainable management of fruit processing by-products is important to reduce the amount of food waste deposited in landfills and to develop strategies through the irreuse for full valorisation and added economic value. The currently proposed biorefinery only focuses on partial valorisation of fruit waste, which is not completely compatible with the closedloop economy framework and economically feasible due to the low-efficiency bioprocesses. Therefore, there is a need for sustainable conception in the biorefinery approach, which can provide full valorisation of fruit waste according to the circular economy.

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Conclusions

Author(s): Laura Mina-Raiu,Lara Johannsdottir,Ivana Načinović Braje,Aída Díaz-Tendero / Language(s): English Publication Year: 0

Good governance is a key factor for national, regional and local development, which many countries aim to achieve and maintain. In a context of changing international equilibrium, transnational crisis and further integration, European democracies require innovative solutions for developing their institutional capacities and resilience. The 11 case studies incorporated in this volume showcase a broad range of national experiences with good governance and resilience in challenging times. Given the wide spread and coverage of various European experiences, the lessons to be learned and good practices to be shared cannot rely on a single, unique framework, as it cannot capture the overall diversity of contextual elements and relevant parameters of good governance and resilience. Therefore, the volume aims at showcasing positive examples that drive the capacity of organizations to manage unexpected circumstances and drawing a series of lessons to be learnt, in a comparative and transnational approach.

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Podatkowe oddziaływanie na politykę rachunkowości

Author(s): Artur Jastrzębowski,Dawid Obrzeżgiewicz,Jarosław Szyszka / Language(s): Polish Publication Year: 0

The authors discuss the practical impact of solutions used in tax law on the accounting policy of entities which keep accounting books. The purpose of this chapter is to verify whether entities adopt and include in their accounting policies solutions resulting from specific provisions of tax law. Discussing the basic differences between accounting and taxation systems, the authors point to the basic theoretical distinctions in the process of identification, valuation and recognition of economic operations. To achieve the research goal they detail the differences in the valuation principles of both legal systems, which are disclosed in the entities’ accounting policies. Using five case studies, they analyse the accounting policies of entities from various industries, presenting the use of tax valuation methods inthe accounting policies.

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Polityka rachunkowości w zakresie ujawnień dotyczących zrównoważonego rozwoju

Author(s): Ewa Różańska,Łukasz Matuszak / Language(s): Polish Publication Year: 0

The purpose of this chapter is to examine the issue of accounting policy relating to non-financial statements and sustainability reports in the theoretical and practical context, and in particular to redefine it, compare its formulation by EU directives (NRFD and CSRD), evaluate its current implementation on the basis of the NFRD and identifying the challenges of updating it in the light of CSRD among Polish companies listed on the Warsaw Stock Exchange. The following research methods were used to achieve the purpose formulated in this way: terminological analysis, comparative analysis of regulations and analysis of the content of source documents. The research sample covered 258 reports (statements) on non-financial information for 2020 and 2021 published by 129 companies. It was found that both directives allow for some freedom of choice regarding the extent and place of disclosures, although the requirements of the NFRD in these areas are much more flexible. Companies willingly use the solutions allowed by the NFRD relating to the use of various standards, including own standards and two options for placing information (in the management report or in a separate report). In addition, the vast majority of companies applied selected standards on a continuous basis and consistently made disclosures in the same place. 10% of companies did not comply with the obligation to disclose information on the applied standards. The companies, along with the replacement of the current regulations by the CSRD, will be obliged to apply the ESRS and thus will face the challenge of developing, applying and disclosing the policy and its changes adopted in the preparation and presentation of the sustainability report. It will be a great difficulty to implement the adopted principles in a relatively short time, especially for companies without experience in using a comprehensive reporting methodology. The study was limited by the short time horizon and the narrowing of the sample to Polish companies. The chapter contributes to filling a significant gap in the accounting literature in three ways: by redefining the concept of accounting policy, providing empirical evidence on the current state of translating the macro-policy created by the NFRD into micro-policies of companies and identifying challenges for these companies related to shaping (selecting, applying and disclosing) of their internal policies in the context of the upcoming changes introduced by CSRD. The study therefore has theoretical implications that contribute to the emerging debate on accounting policies in the area of non-financial disclosures regarding sustainability. The results of the study also have practical implications for preparers of reporting policy in this area, as well as implications for future research on the determinants and potential impacts of the adopted policy.

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Инфлация и сътресенията в съвкупното търсене и съвкупното предлагане

Author(s): Ivan Todorov / Language(s): Bulgarian Publication Year: 0

Following the prolonged period of low inflation rate over the past two years, there has been a period of higher rate that has significantly exceeded the targets of the leading central banks (e.g. ECB, Fed, BoE). This research focuses on the fundamental difference in inflation in the US and the Eurozone.

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Анализ на степента на реална конвергенция на икономиката на България с икономиките на страните-членки на Европейския съюз през периода 2017–2022 г.

Author(s): Aglika Kaneva / Language(s): Bulgarian Publication Year: 0

In this paper the degree of real convergence of the Bulgarian economy with the European economy has been assessed by analyzing some of the indicators of real convergence such as price level, GDP per capita and labour productivity. Major economic indicators for Bulgaria in the period 2017 – 2022 have been examined.

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Национални планове за възстановяване и устойчивост – цели, приоритети и изпълнение

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

The COVID-19 pandemic that emerged at the beginning of the current decade has negatively affected European economies. As a result, various instruments have been developed within the European Union to provide support to member states in dealing with the social and economic consequences of this pandemic. The present study focuses on the analysis of the purposes, policies and current results of the Recovery and Resilience Facility and the national plans financed through this instrument.

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Преглед и анализ на нормативната среда за развитие на допълнително осигуряване за безработица в България

Author(s): Kremena Choutilova-Yochkolovska / Language(s): Bulgarian Publication Year: 0

The purpose of the report is to provide an overview and analysis of the current legislation in the field of the supplementary insurance for unemployment and/or professional qualification. We have focused on the more important aspects of the organization and management of this type of insurance having analyzed the legislation of the voluntary form under which it could only exist at the current stage. We have also tried to find the possible reasons for the dead point in which this activity has been frozen having in mind the lack of companies able to practically organize the development of the voluntary unemployment insurance model.

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Опитът на Чили в развитието на осигурителен модел за безработица, основан на индивидуални сметки

Author(s): Kremena Choutilova-Yochkolovska / Language(s): Bulgarian Publication Year: 0

The focus of this report is to uncover and trace Chile’s experience in building and refining a fully funded unemployment insurance model. The review provided an insight into the architecture of the unemployment insurance system based on individual savings accounts and how it is harmonized with the unemployment solidarity fund. Emphasis has been added on the organizational structure and changes that have taken place over the years in order the insurance model to be improved.

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Ефекти на преки чуждестранни инвестиции в България

Author(s): Galya Vladimirova / Language(s): Bulgarian Publication Year: 0

The presented work examines the changes and the effect of foreign direct investment during the period under review. The change in the indicators, the conditions of work, the discovery of new opportunities for activity in Bulgaria.

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Анализ на успеваемостта по дисциплината „Финансово счетоводство“ от студентите от ОКС бакалавър при УНСС – София

Author(s): Snejana Bacheva,Borislav Boyanov / Language(s): Bulgarian Publication Year: 0

This report presents the results of an empirical study of the results achieved in the discipline "Financial Accounting" by students in "Accounting" and "Finance", full-time, educational and qualification degree of Bachelor at the UNWE for the academic years 2020/2021, 2021/2022 and 2022/2023. An analysis of the structure and distribution of the results of the regular and resit examination sessions in the discipline was carried out. The dynamics of the success rate of students from both specialties during the period under review are studied. Conclusions are drawn about the success rate of students in the conditions of the COVID and post COVID pandemic and alternative opportunities for increasing student performance are outlined. Object of the study are students from the specialities “Accounting” and “Finance”, educational and qualification degree Bachelor, full-time education, students at the UNWE – Sofia. The subject of the study covers the taught discipline "Financial Accounting" during a period of three academic years: 2020/2021, 2021/2022, 2022/2023. The aim of the study is to examine the success rate of students in the discipline "Financial Accounting" through analysis of the results achieved and on this basis to draw conclusions and generalizations about the current state and approaches to improving the results. Information assurance: the empirical research was carried out on the population of units, i.e. all students from the specialities "Accounting" and " Finance", educational and qualification degree of Bachelor were covered, using primary information from the protocols of regular and resit examination sessions.

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Анализ на интереса към представленията на българските държавни театри в периода 2018-2022 г.

Author(s): Goritsa Said / Language(s): Bulgarian Publication Year: 0

The report “Analysis of interest in the performances of the Bulgarian state theaters in the period 2018-2022” is a kind of analysis of demand and supply in the field of performing arts. The selected period covers the time before the Covid-19 pandemic and after, aiming to interpret the changes that occurred as a result of these events. The report analyzes live performance attendance data by gender, age, education, city, employment status, and more. The data on the number of theaters by type (dramatic, dramatic-puppet, musical), by form of ownership (state, municipal, private) are commented on. The data on average number of visits to one theater, average number of visits to one performance, number of new performances, number of tours are analyzed. The data on the revenues realized by the cultural institutes are also analysed. All data used are from the National Statistical Institute.

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Предприемачеството в ЕС при навлизане на чужди пазари

Author(s): Valko Dzhankardashliyski / Language(s): Bulgarian Publication Year: 0

The report looks at several EU start-ups that have expanded beyond its markets. Examples of companies founded before the founding of the EU are presented. The ways in which they organized their activities in a historical aspect are presented. The stability of the European market guarantees the emergence of new companies that have created new technologies and trends in the public life of the population. The report examines the benefits of building these companies in the diverse EU market and how important unity and closeness in the culture of a group of individuals is for successful market positioning and company development. A comparison is made of events when entering a foreign market and how successful or not it was compared to the establishment of the company in the EU and the initial positioning in the market. The political, legal, cultural and financial risk of positioning in the foreign market are considered. The report analyzes the strategy for entering the foreign market and the consequences of the influence of the foreign culture on the company. A comparison is made of companies founded before the founding of the EU and their difficulties in positioning themselves in the market. It also takes into account the fact that 30 years have passed since the founding of the EU and the world is technologically different. The development examines the challenges and barriers faced by companies in the period of their construction before entering a foreign market. The possibilities for financing newly founded companies, the risks and competitive advantages of the presence on the European market are examined. In conclusion, a comparison is made of the examined sites and recommendations are made regarding the political, financial and legal frameworks for supporting newly founded small companies to enter a foreign market. An opinion is expressed about possible steps to prepare entrepreneurs for entering a foreign market.

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Нови моменти в Mеждународните стандарти за финансово отчитане (МСФО) от 01.01.2023 г.

Author(s): Nikolay Yovchev / Language(s): Bulgarian Publication Year: 0

The changes to IAS/IFRS that came into effect on 01.01.2023 and that entities need to reflect are fundamental to understanding financial statements. Improving the communication of financial reporting has been a central theme of the IASB's standard-setting and improvement work in recent years. In this paper I aim to clarify these amendments so that their practical application becomes clearer. The objective of the study is to assist preparers in deciding what accounting policy information to disclose in financial statements. An attempt is made to provide clarity on the main points in the changes that have occurred in the standards and requirements of IFRS.

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Сравнителен анализ на законодателството на държавите-членки на ЕС по отношение на предприятията от обществен интерес

Author(s): Stiliyan Dzhoykev,Nikolay Kostov / Language(s): Bulgarian Publication Year: 0

The public interest entities (PIEs) play a pivotal role in the EU's financial and economic landscape. In light of the newly adopted Directive 2022/2464 a more detailed analysis of the methods adopted by EU member states for the classification of PIEs is needed. This report compares the legal framework of the EU member states and analyzes the classification of PIEs.

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Tax System and Tax Revenues in Bulgaria, 2010-2021: Structure, Trends, Problems

Author(s): Yasen Georgiev / Language(s): English Publication Year: 0

Bulgaria’s tax system, comprising state and local levels, encompasses various taxes like income tax, social security contributions, corporate taxes, and value-added tax. Administered by the National Revenue Agency, state taxes are fundamental, while municipal councils regulate local tax rates. In 2008, Bulgaria transitioned to a flat tax system, replacing the progressive tax with a 10% income tax. Taxation of foreign individuals hinges on residence and interests, and local taxes, including real estate tax and succession tax, contribute to the municipal budget under the Local Taxes and Fees Act. The Value Added Tax (VAT) system, regulated by the Value Added Tax Act, applies to an array of goods and services. VAT registration can be compulsory, voluntary, or initiated by revenue administration. It is applicable to goods, services, intra-European Union acquisitions, and imports. The standard VAT rate is 20%, while accommodation services are taxed at 9%. An analysis of tax revenues as a percentage of Bulgaria's GDP from 2010 to 2020 reveals consistent growth, primarily driven by economic expansion. However, the heavy reliance on indirect taxes, particularly VAT, raises concerns about revenue stability. Recent changes, including increased allowances for families with children and temporary VAT rate reductions during the COVID-19 pandemic, reflect attempts to address socio-economic challenges. Several solutions are proposed to enhance the Bulgarian tax system, encompassing changes such as increasing individual income tax, implementing a progressive tax structure, raising corporate taxes, reducing VAT rates, or combining these adjustments. A suggested approach focuses on a moderate increase in individual income tax from 10% to 15% to achieve a balanced tax system, with potential worker demotivation addressed through transparent government spending and commitments to improved social welfare.

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Central Bank Structure and Functions – Federal Reserve, European Central Bank and Bulgarian National Bank

Author(s): Lidia Nanova / Language(s): English Publication Year: 0

A central bank is an institution that oversees and regulates the banking system and controls the monetary base. The most important function of any Central Bank is to undertake monetary control operations. There are three key goals of modern monetary policy. The first and most important is price stability or stability in the value of money. The second goal is a stable real economy, often interpreted as high employment and high and sustainable economic growth. The third goal is financial stability. The Fed was created on December 23, 1913. It is the central banking system of the United States of America. European Central Bank was established on 1 June 1998, located in Frankfurt, Germany. The European Central Bank (ECB) is the prime component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. Bulgarian National Bank was established on 25 January 1879, located in Sofia, Bulgaria. From January 1, 2007, with the accession of the Republic of Bulgaria to the EU, the BNB became part pf the European System of Central Banks (ESCB).

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Management of Catastrophic Risks. The Case of Karlovo Area Flood 2022

Author(s): Mihaela Vladimirova / Language(s): English Publication Year: 0

Effectively addressing catastrophic risks stemming from natural hazards holds significant societal importance, highlighting the interconnection between public finance and insurance. Within the context of Bulgaria's susceptibility to flood-related risks, this study evaluates the existing model designed for mitigating post-event damages. The effectiveness of this model is examined through the case study of the 2022 Karlovo area flood. In proposing methods for enhanced risk management, three distinct tools are introduced: the promotion of voluntary insurance, the allocation of a specific budget line item for natural hazard damages, and the establishment of a catastrophic insurance pool. To assess the viability of these approaches, a comparative analysis is conducted, drawing parallels with the catastrophic insurance pool in Romania.

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