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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.
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Georgi Gerganov, Violeta Blazheva
The Lease and Accounting of Agricultural Land
Summary:
After the restoration of ownership of agricultural land, a significant part of owners choose leasing as the most acceptable form of management. Depending on the legal regulations and the contractual basis, the income from providing agricultural land for temporary use is gained from lease payment and rent.
This article examines the shortcomings of the legal framework which regulates the use of agricultural land through lease/rental agreements and the problems that occur regarding harvest payment.
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I. Dimitrova, Y. Velcheva
Fixed Biological Assets – Specifics of Their Reporting
and Related Problems
Summary:
The focus of this paper is on the specific features of fixed biological assets in terms of their measurement, reporting, tax treatment and disclosure. The objective of the article is to analyse the rules for and ap¬proaches to accounting of fixed biological assets in compliance with AS 41 Agriculture and IAS 41 Agriculture and hence to outline solutions for creating and disclosing accounting information of improved quality.
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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.
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Rayna Petrova
THE COMPETENCE-BASED APPROACH THROUGH THE PRISM OF ACADEMIC TRAINING IN MANAGEMENT ACCOUNTING
Summary:
Management accountants’ competences are evolving accor¬ding to the changing socio-economic reality. The practical application of the competence-based approach in this field is a response to the change of attitudes from subject-oriented to competence-oriented education.
The aim of this article is to propose a competence-based learning model for students in management accounting. The application of the developed competence model in the educational process will contribute both to the development of competences, knowledge, skills, values, ethics and attitudes and the realization of future management accountants.
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Daniela Feschiyan
A Model for Financial Reporting of Fixed Tangible Assets in Public Sector Entities
Summary:
The article reviews some of the disadvantages related to the current model of financial reporting of fixed tangible assets in public sector entities. A prerequisite for the occurrence of the researched problems is the lack of standardization in the accounting system of those entities. The author suggests a standardized model and supports the thesis that the problem could only be solved through the adoption of accounting standards replacing the existing practice of regulating the accounting process in public sector entities with instructions and letters. The suggested standardized accounting model for primary recognition, current and regular valuation of fixed tangible assets projects the means and ways for improving the accounting system of public sector entities by adapting it to the conceptual framework of the International Public Sector Accounting Standards.
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Mariya Pavlova, Rayna Petrova
THE EMERGING CHANGES
IN THE ACCOUNTING PROFESSION AND THE ACCONTING PRACTICE UNDER THE INFLUENCE
OF TECHNOLOGY
Summary:
The implementation of new technologies in accounting brings many benefits for the future, but also carries many risks. In the current digital era, the adequate practical application of technologies in accounting can become a strategic advantage for companies. In relation to the digitalisation and the upcoming organizational changes, both in the sphere of accounting and in the companies themselves, accounting specialists are a key factor for success. This study gives a thorough overview and analysis of specialised literature in this area and a number of empirical studies. The results show that the literature mainly focuses on certain technologies, while other are actually used in practice. Differences have been identified between the accounting practices of the USA and the European countries. The authors outline three directions in which technologies help accounting teams to transition to modern accounting and effectively perform their tasks in the digital world. The conclusion is that today, specialised skills and strategic thinking of accounting specialists are particularly important and in the near future, they will not be entirely displaced by technologies.
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P. Dimitrova
Some Aspects of the Accounting Analysis of Loans Granted
by Commercial Banks
Summary:
The accounting analysis performed in banking institutions is of key importance. It is based on information collected exclusively from current and periodic accounting reports. Based on real accounting data, it is found that there are decreased rates of positive growth in credit portfolios. Granted loans are well-secured while at the same time there is also an increase in the percentage of non-performing loans. When assessing the risk of collateral it is possible to propose the use of "above-the-moderate risk." It is considered necessary for banks to maintain information about the liquidation value of mortgages or pledged assets, rather than the market price.
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Mihail Dochev, Galina Chipriyanova
Accounting with regardto the Information Systems in Higher Schools
Summary:
Information is one of the major resources related to consolidating the competitive position of higher schools in a market oriented economy. Accurate and reliable information is mainly ensured by accounting. It is associated with the mechanism of current, regular, reliable and accurate recording, and processing and summarising data, thus providing a realistic perspective for the accounting of the training and education process and the performance of centres and sections in a higher school, as well as a solid basis for their comprehensive analysis. Computer-based accounting information systems, respectively, integrated accounting information systems (being information systems of the highest class) are essential to the efficient management of higher schools and hence, their success on the education market.
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I. Dimitrova, Y. Velcheva
MANAGEMENT ACCOUNTING IN AGRICULTURAL ENTERPRISES – THE BUDGETING FUNCTION
Summary:
The significance of the information created through management accounting and its limited use in the management of agricultural enterprises are the main motives for writing this article. We defend the thesis that if budgeting were implemented in agricultural enterprises, this would lead to more efficient management. The purpose of the paper is – on the basis of presenting the relationship between management and accounting – to outline the capacity of the planning and budgeting system for setting management objectives and parameters which acquire various quantitative and qualitative dimensions; this shall be achieved through managerial decisions. We propose a conceptual model of the planning and budgeting system at the agricultural enterprise which shall reflect its specific characteristics and create information for its future development; forecast its financial state, the results of the activity, the cash flows, the changes in the assets and the capital.
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Andrey Zahariev, Atanas Atanasov, Galina Chipriyanova
FINANCE AND ECONOMIC ACCOUNTING – FACULTIES, SCIENTIFIC RESEARCH AND A 70-YEAR TRADITION
Summary:
At a solemn joint session, the Faculty Councils of the Faculty of Finance and the Faculty of Economic Accounting at the D.A. Tsenov Academy of Economics celebrated the 70th anniversary of their establishment. By Decree No. 289 of August 20, 1953, effective from September 1, 1953, the Presidium of the National Assembly redistributed and regrouped the specialties at the Higher Financial and Economic Institute in Svishtov, into two faculties - Financial-Statistical and Accounting. Over the years, the faculties have changed their names several times - Financial-Statistical (1953), Financial-Economic (1973), and the Faculty of Finance (1993), and respectively - Accounting (1953), Accounting-Economic (1973), and the Faculty of Economic Accounting (1993). The purpose of this article is to present the results of celebrating the 70th anniversary of the Faculty of Finance and the Faculty of Economic Accounting at the D.A. Tsenov Academy of Economics through the organization and conduct of a prestigious international scientific forum.
