-
Rosen Kolev
ALTERNATIVE ACCOUNTING APPROACH FOR ELECTRICITY COMPENSATIONS TO INDUSTRIAL ENTERPRISES
Summary:
The growing prices of the main production resources have led to a common European policy in support of economic subjects. The established mechanisms also concern the electricity consumed by non-domestic end users. The industrial sector in Bulgaria is energy-intensive and the accounting for the electricity costs and the compensations for their high prices has become increasingly relevant because of the direct influence on the cost price and sale price of the provided services and the produced goods. The development of an alternative accounting approach for the compensations to industrial enterprises facilitates making operative, strategic, and tactical decisions concerning their activity.
-
Rosen Kolev
INDUSTRY 4.0 AND KAIZEN COSTING 4.0 – OPPORTUNITIES FOR DEVELOPMENT OF COST MANAGEMENT SYSTEMS TOWARDS CIRCULAR ECONOMY
Summary:
The importance of management accounting and cost management systems for industrial enterprises is constantly growing. In the conditions of the fourth industrial revolution, management systems of economic agents need to adapt to the new economic environment. This article is an attempt to present the influence of Industry 4.0 on a specific cost management system - Kaizen costing. Additionally, it presents the possibilities for the application of Industry 4.0 and Kaizen costing in the circular economy, which has become the main economic perspective for the EU countries.
-
Silviya Kostova
Audit procedures in the assessment of environmental costs
Summary:
The article reviews the interdependence between changes in financial reporting and the scope of audit procedures conducted by statutory auditors. It studies the characteristics of the environmental aspects of the integrated fi-nancial framework and their impact on the accuracy of financial and non-fi-nancial information. Some of the challenges faced by statutory auditors have been outlined in response to the major measures adopted through the strategic document “Europe 2020”, as well as the expectations of audit opinion users via integrated reporting.
-
Hrabrin Bashev
AN APPROACH TO UNDERSTANDING AND ASSESSING THE GOVERNANCE EFFICIENCY OF AGRICULTURAL ENTERPRISES
Summary:
This article incorporates the New Institutional Economy and proposes an approach for understanding and assessing the governance efficiency of farms. It corroborates that a farm is efficient if it manages all its transactions and activities in the most economical (equal or more efficient) way compared to any other organization. Moreover, farms must have a good potential to adapt to permanently changing market, institutional, technological and natural environments in order to have high (overall) governance efficiency. Nature of the problems in effective organization for the main farm transactions for securing needed factors of production and output realization is used as an indicator for farm’s comparative efficiency. The analysis of survey data found that the overall level of governance efficiency of Bulgarian farms is acceptable the efficiency of 60% of them is low. There are huge differences in the level of efficiency of farms of different legal form, size, specialization and location as well as in the share of farms with different levels of efficiency in each group.
Keywords: governance, efficiency, farm, transaction costs.
-
Shteryo Nozharov
TRANSACTION COSTS IN COLLECTIVE WASTE RECOVERY SYSTEMS IN THE EU
Summary:
The study aims to identify the institutional flaws of the current EU waste management model by analysing the economic model of ‘extended producer responsibility’ and collective waste management systems and to create a model for measuring the transaction costs borne by waste recovery organizations. The model was approbated by analysing the Bulgarian collective waste management systems that have been complying with the EU legislation for the last 10 years. The analysis focuses on waste oils because of their economic importance and the limited number of studies and analyses in this field as the predominant body of research to date has mainly addressed packaging waste, mixed household waste or discarded electrical and electronic equipment. The study aims to support the process of establishing a ‘circular economy’ in the EU, which was initiated in 2015.
