Economic Archive

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  THEORETIC ASPECTS OF FINANCIAL CONTROLLING IN THE FIRM

  The focus is on financial controlling as part of the controlling in the firm. The article highlights the need of financial controlling Bulgarian companies. It explores the factors of the external and the internal environment of the company within the context of financial controlling as well as the types of controlling. The major financial ... The focus is on financial controlling as part of the controlling in the firm. The article highlights the need of financial controlling Bulgarian companies. It explores the factors of the external and the internal environment of the company within the context of financial controlling as well as the types of controlling. The major financial indicators that are used as a basis for the formulation of the goals of the company are outlined.

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  CORE PERSPECTIVES OF PERFORMANCE MEASUREMENT IN NPOS: IN SEARCH OF ACCOUNTABILITY AND LEGITIMACY

  Purpose: The Main Purpose of this research is to set the scene for Non-Profit Organizations’ performance by synthesizing the vast array of literature on performance measurement frameworks to examine what constitutes performance measurement, and why it is a fundemental issue for the NPO sector. The research also analyses the main issues of ... Purpose: The Main Purpose of this research is to set the scene for Non-Profit Organizations’ performance by synthesizing the vast array of literature on performance measurement frameworks to examine what constitutes performance measurement, and why it is a fundemental issue for the NPO sector. The research also analyses the main issues of performance measurement in NPOs. Methodology: This research takes the form of a literature review. The author draws on extensive research on measuring the performance in NPOs from a diverse range of disciplines to explore definitions, challenges and solutions with performance measurement in NPOs. Value: The categorizations of approaches to measure the performance in NPOs should guide researchers and practitioners. Findings: Non-Profit Organizations need new indicators to assess their economic, social and financial performance, in order to increase the accounting disclosure for social and economic value added resulting from its activities.

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  POLICIES AND PROCEDURES OF EX-ANTE CONTROL FOR LEGALITY

  he ex-ante control for legality has been part of the introduced control activities for obligatory application in the public sector ever since the year 2000, as it has undergone alterations in the philosophy of its execution over the years. The latest amendments in the legislation in the year 2019 set a requirement to managers in the public sector ... he ex-ante control for legality has been part of the introduced control activities for obligatory application in the public sector ever since the year 2000, as it has undergone alterations in the philosophy of its execution over the years. The latest amendments in the legislation in the year 2019 set a requirement to managers in the public sector to introduce policies and procedures of ex-ante control for legality. Such policies and procedures shall be based on several pillars. On the one hand, the ex-ante control for legality shall be executed in compliance with the instructions for the order and means of executing ex-ante control for legality set by the Minister of Finance. On the other hand, it shall be based on risk assessment in the enterprise. Last, but not least, the policies and procedures shall observe the cost of control based on the cost benefit analysis.