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Pencho Penchev
More about the Food Supplying Problem
Summary:
One of the most important issues facing humanity is the food supplying problem. There are two ways to produce food: a) natural way which is not in contradiction with environment and b) unreasonable way which threatens human existence. The article focuses on the second one and displays the expected negative consequences: irretrievable negative changes of the planet which in turn threaten human existence. In order to avoid them, the article shows opportunities to meet food needs which are consistent with natural conditions.
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Ivanka Tsoneva
“Black" or Negative PR as Competition Tools
Summary:
Negative PR-technologies are not obvious. Some of them are the result of careless talking, writing, creating slogans and trade-marks. One second group results from destroy someone’s public reputation. The less transparent third group concerns strongly negative methods applied to create awareness, sympathy, and complicated part of dealing with efforts to technologies are the les from the current practice illustrate the recommended methods.
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Alketa Pasholli
Actual Problems and Good Practices in Accountancy Teaching to Students in Albania
Summary:
The profession of accountacy in Albania on the road to the euro , represents a challenge to be faced. The 21st century requires the field of accounting profession to have a more qualitative education, improved programs of professional preparation in order to bring up an accounting professional capable to meet the growing requirements and prevent undesirable situations. The qualitative preparation of the accounting professionals starts at school, from the professional high school to university ( finance and accounting departments) and continues even furthers with different qualifications near professional organizations and institutions.
The purpose of this paper is to present the achievements in the field of education and training of the accounting professional, existing problems and recommendations on potential improvements needed. This analysis is particularly focused on the shortcomings of the development of the accounting education starting from the curriculum deficiencies of the Economic Faculty or other economic oriented faculties in public or private universities, educational programs of the accounting professional organizations and institutions, ect. This paper tries to answer the following questions: How effective are our undergraduate programs in combining theoretical and practical elements and what are the potential improvements needed? What are some of the best-experiences in the other well-known accounting schools in the preparation of the qualitative accounting professionals and what are the necessary improvements? Finally, recommendations will help in determining potential approaches in order to improve the accounting profession education system and increasing its.
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Kiril Luchkov
Àccents of Annual Accounting Closure in Non-Financial Enterprises
Summary:
In the present research we are focusing our attention on some principled and procedural questions about the annual accounting closure in non-financial enterprises applying IAS/IFRS as a reporting base related to preparation and presentation of the annual financial statement. Without claims of exhaustion, the main stages of annual accounting closure are analysed in chronological order, the duration of which depends on specific features of the enterprise itself and the organisation of the accounting process. Emphasis is placed on the inventory of the assets and liabilities whose purpose guarantees the informational authencity which is announced in the annual financial statement.
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Plamen Petkov
Algorithm for Econometric Estimation of the Aggregated Production Function by Transcendental Logarithmic (translog) Approximation
Summary:
The study analyzes the dependence of gross domestic product of the number of employees and gross fixed capital formation in Bulgaria with the help of the aggregate production function. Based on quarterly data, which covered the first quarter of 1996 to the first quarter of 2007, is examined the elasticity of substitution of production factors. It is tested three types of production functions – a production function with variable elasticity of substitution of factors (VES-function), a production function with constant elasticity of substitution of factors (CES-function) and classical Cobb-Douglas function. Estimates of the parameters were obtained with the least squares method, applied to transcendental logarithmic (translog) approximation of the production function.
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Mariela Dimitrova, Vitan Todorov
Analysis and Trends in Tax Audit Practice in Bulgaria for the Period 2017 – 2021
Summary:
The revision procedures are an expression of the tax-insurance control activity carried out by the revenue administration. Audits and inspections are the two methods by which the tax administration operates and are mechanisms for the implementation of control powers of the National Agency for Taxation. In this article, the authors present an analysis of data on the audit procedures of the National Revenue Agency for the period 2017-2021, through the prism of which the activity of the National Revenue Agency can be presented in terms of implemented tax-insurance control and exercise of the right of appeal by of tax subjects.
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Elka Lubomirova Atanasova
Analysis of Income as a „Generation of Income“ Account Component
Summary:
„Generation of income" account contains information on value added components: compensation of employees, taxes on production and imports, subsidies, gross operating surplus, gross mixed income. It complements the information of "Production" account, allowing analysis of the level of wages in sectors and industries of the economy. Data from this account allow committing the income from productive activity to the results achieved by sectors and economic activities. This article provides an analysis of the statistical information contained in the "Generation of income" account for the period 2000-2012, to identify the formation macroeconomic trends.
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Aglika Kaneva
Analysis of the Profitability Indicators and Indicators for Assessment of Assets Quality of the Banks in Bulgaria in the 2007 – 2018 Period
Summary:
This research is dedicated to the profitability of the banks in Bulgaria - profit after tax, return on equity and return on assets. Òhe dynamics of indicators for assessment of assets quality of banks such as banks risk exposures and impairments of credits of the banks has been examined that like the profitability indicators are highly influenced by the financial crisis.
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Mariela Dimitrova
Analysis of Controversial Issues in the Appeal of Tax Revision Acts in the Context of Judicial Practice
Summary:
This publication is based on a legal analysis of some controversial issues in tax practice, which are successfully applied and clarify the tax matter of business entities. Revision acts are the first phase of tax proceedings, which trigger the active behavior of both the tax administration, which is decisive in the said proceedings, and the economic entity, whose right to appeal the act is a guaranteed constitutional principle.
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Branimira Assenova Koleva
Analytical Procedures as a Means of Optimising Auditing
Summary:
Audit literature provides many definitions of the nature of an audit. In general, they all boil down to focusing on audit outcomes, namely, establishing that financial statements comply with accounting standards. An audit is an independent examination, and an auditor assumes responsibility for expressing a true and fair opinion on financial statements for the public benefit. Achieving high-quality audits requires collecting and evaluating objectively the evidence obtained for economic actions and events. However, an auditor has a limited amount of time to process large volumes of information, so in terms of quality and time, their work can be optimized through analytical procedures.
According to the International Standards on Auditing, an audit involves analytical procedures throughout the process. Analytical procedures evaluate financial information through analysis of plausible relationships among both financial and non-financial data. The aim is to obtain quality audit evidence in a more timely and cost-effective manner. Applying analytical procedures reduces audit work and improves its efficiency. They are essential for risk assessment in both planning and fraud and error detection. The proper application of analytical procedures is a prerequisite for carrying out a quality audit and taking an adequate audit decision regarding management’s assertions in the financial statements. It is, therefore, necessary to maintain the professional qualification of independent auditors, not only as hours and types of seminars of auditors’ own choice, but also to make them mandatory in terms of regulations, which need to be amended accordingly. I believe that attending seminars is not sufficient to enhance an auditor’s expert knowledge. It would be good to pass a test each year as some form of verification to confirm the knowledge acquired.
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Ventsislav Perkov
Barriers in Implementing Reverse Logistics in Bulgaria
Summary:
The present paper attempts to identify the main barriers in implementing reverse logistics in Bulgarian manufacturing and commercial enterprises. After the theoretical literature review, nine barriers are displayed. Based on a survey, the barriers are ranked according to respondents’ opinions. Barriers in implementing reverse logistics and the degree of importance of its implementation in enterprises are submitted by means of two-dimensional distribution. The next stage of analysis is connected with the study of relationship and direction of influence among the variables. The results show that the reverse logistics is essential for the implementation of more environmentally friendly manufacturing and trade but barriers are relatively irresistible. The reasons for this have their roots in the government policy and non-engagement of managers to problems that can be solved through reverse logistics.
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Teodora Petrova, Zhivo Petrov
Unmanned Aircraft Vehicles - Part of Robotic Platforms in Agriculture
Summary:
The scientific and technological changes that have occurred are leading to a transformation in the operations and business processes of the agricultural industries. When using unmanned aerial vehicles in modern agricultural technologies, it is necessary to improve their functions such as search, recognition and manipulation-robotic actions. This paper examines the cost-effectiveness issues of aerial photography using unmanned aerial vehicles with low-end photographic systems.
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Kamen Kamenov
Power - Behavior, and Self-proving of the Manager
Summary:
This article examines the relationship behavior - self-proving. More specifically, it analyzes the options for positive and negative personal and official self-proving. In the end some conclusions are reached about the relationship between them.
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Ivaylo Stoyanov
Power and Behaviour of the Human Factor in Management
Summary:
The study analyses power as an instrument of behavioral influence in management. It outlines the basic concepts of power, its types and forms. The main characteristics of decentralization and delegation of authority are also discussed. The determinants of power relations in management are adapted and further studied so that power can be diagnosed rationally. Power is an indispensable element of management process and affects the subject and object of the process realization. It gives senior managers the right to make management decisions and give orders in organizations.
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Irena Emilova
The Relation Manager and Subordinate - Basic Assumptions
Summary:
The article examine analogy with basic assumptions of interaction model toward relation manager-his subordinates. We explain symbiotic interaction between them, systematically blockage on mutually needs and availability of the forces of change. The demonstrations of these assumptions have diagnostically value for managerial process.
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Nesrin Uzun
Impact of the Global Financial Crisis on Housing in Bulgaria
Summary:
Negative effects of the global financial crisis is still not fully overcome in the world and the economies of individual countries continue to implement various measures to eliminate their effect. One of the most crisis-hit sectors of the economy proved to be construction and directly related to it real estate market. This article aims to make a critical analysis of the status and trends in the "construction", with an emphasis on housing during the 2008-2013 period. In order to thoroughly investigate the problem, the article will consider the state of the mortgage market in Bulgaria and opportunities for bank financing of construction enterprises (through direct funding and realisation of finished products - by financing customers in the form of housing loans) and their relation to the development of the construction sector in the country.
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Svetoslav Iliychovski
Possibilities for Determination of the Liquidation Value
Summary:
Currently, the global and national economies are experiencing an increase in the level of uncertainty, which is remarkable especially in the markets for the most traded assets. This, in turn, affects the activities of companies in terms of prices, demand and supply of specific resources, which makes it difficult to correctly determine the value of enterprises. Evaluation plays a crucial role in balancing the interests of all stakeholders at such a time. In many cases, the appraisers face the task in practice to derive, determine a value different from the market - liquidation, investment and others. In the present study we focus on the possibilities for determining the liquidation value.
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Katya Kirilova
Opportunity to Assess the Economic Efficiency of Investment in Information Technology in Local Governments
Summary:
Bulgaria is in the development stage, where significant investments are needed in order to create and use appropriate electronic government. Part of the idea of building an e-government is related to the scope of services that municipalities provide. For these reasons it is important from a theoretical and practical standpoint to clarify whether the factors for creating functional e-local government are properly defined. For this purpose, in the paper we use a survey for the level of information systems and technologies in municipalities and on that basis we determine some opportunities for building online services in local administrations. Some characteristics are considered in the development of information systems for the needs of the local administration. We present the processes of awareness of the information need, definition of information problem, definition of the purpose and scope of the system, development of task specification, evaluation of economic efficiency, and implementation of the system. On this basis, the possibilities are derived to assess the economic efficiency of investments in information technologies and software in the municipal administration. Finally, conclusions are formulated.
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Branimira Assenova Koleva
Opportunities for Effective Cash Flow Audit
Summary:
Performing an independent financial audit is not an easy task - it is an ethic commitment for the auditor that must be performed with a due care both to the client and to the community. The present work is aimed at supporting the work of auditors by providing theoretical knowledge and illustrative examples on the verification of cash. Determining the actual amount of cash is a high-risk audit assignment. Therefore, the confirmation of cash is a large-scale and comprehensive procedure, which requires more attention. The paper discusses the issues, techniques, and procedures the auditor can apply to get the most credible evidence of quantity and ownership of cash.
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Mihail Mihaylov, Margarita Gergova, Kiril Mitov, Rositsa Koleva, Lyudmila Doncheva, Krasimir Kulchev, Bilyu Bilev
Ideas for Improving the Organization of Training Students in Business Analysis
Summary:
The essay offers ideas for improving the organization of training students in Business Analysis. It outlines the modern trends in the education process and shows approved practices with their importance for stimulating students' individual work. The emphasis is on the use of innovation technologies and teaching aids.
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Galina Chipriyanova
Possibilities of Improving the Accounting of Provisions in Companies with Constuction Activity
Summary:
The article examined issues concerning the nature of the provision as a reporting category, the methodology for measuring the value of provisions and the improvement of their accounting. With specific examples of the practice are represented regulated in IAS 37 / AS 37 Provisions, Contingent Obligations and Contingent Assets cases of provisioning: the removal of hidden defects (construction defects respectively), which of hidden becoming actually in the process of exploitation, environmental restoration; restructuring of the company. Proposed are three methods for determining the amount of the provision as the case of the accounting of the costs for provisions in companies with construction activity.
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Galya Vezirova
Differentiated Instruction in English Language Teaching (Level B1)
Summary:
The article examines the possibilities of applying differentiated instruction in intensive English language learning (level B1). The essence of differentiation and the peculiarities when it is used in the educational process are clarified. The principles and elements of differentiated instruction are examined. Emphasis is placed on the possibilities for the application of this philosophy and approaches and strategies are proposed for the full and effective implementation of differentiated learning in intensive English language learning.
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Vanya Ganeva
Domestic Violence Against Women as an Object of Social Work
Summary:
The article deals with domestic violence against women, which in the last decades has been defined as one of the most serious social problems worldwide. The first part of the paper explains the essence of violence and the gender aspects of domestic violence. On a gender approach basis an explanation is sought as to how social relations between men and women in society, fixed via patriarchal order, contribute to the manifestations of tolerance towards domestic violence against women.
The second part of the article explains the specifics of social work against domestic violence against women. Theoretically this type of social work is based on the feminist and anti-oppressive trends developed considerably after the 80s of the 20th century. The practical realization of social work against domestic violence calls for the use of crisis intervention, a good knowledge on the social worker’s part of the experiences and reactions of women – victims of domestic violence, as well as the services which they can use. Besides working with victims, another main point in social work in cases of domestic violence against women must be working with domestic violence offenders, using methods borrowed from psychotherapeutic and consultation practice.
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Valentina Bineva
The Effects of COVID-19 Pandemic and Military Conflict between Russia and Ukraine, Presented in Application of IFRS 9, IFRS 15 and IFRS 16
Summary:
The aim of this study is to perform a summary analysis of the impact of the Covid – 19 pandemics and the military conflict between Russia and Ukraine, in application of IFRS 9 – Financial Instruments, IFRS 15 – Revenue from Contracts with Customers and IFRS 16 – Leases, which is part of a more extensive detailed study of the effect of these extremely significant events on the information in the public reports of a group of tourist enterprises in Bulgaria
The study goes through a commentary on the initial implementation of the standards (first-year implementation) and arrives at a discussion on the changes in their content and manner of implementation that occurred as a result of the above two major events
The analysis shows that the changes as a result of the economic shocks for the world and for Bulgaria as well, as a result of these two exceptional events in their nature and impact, significantly change the picture of the functioning and survival of economic entities in such a stressful environment. The tourism industry is undoubtedly going through a significant challenge trying to survive in such an unfavorable atmosphere.
The development and adaptation of the standards from 2017 (the year before their introduction) to the present moment (the end of 2022) was observed and analyzed in order to get an adequate idea of the effects of the implementation, amendment and addition of IFRS 9, IFRS 15 and IFRS 16, in relation to the Covid – 19 pandemic and the military conflict between Russia and Ukraine.
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Todor Todorov
On some Imperfections of the Gross Domestic Product Index
Summary:
The gross domestic product is the most widespread macroeconomic index, used for macroeconomic analysis and forecasting of economic growth. Despite all its merits it can hardly be considered a perfect indicator of economic growth and nation’s welfare. One of its disadvantages is that it doesn’t record the effects connected with the exhausting of natural resources or with the negative consequences of environment pollution. In this sense the article offers an algorithm for calculating “green GDP” and “black GDP”.
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Milen Atanasov
Insurance "Professional Liability" for Insurance Intermediaries
Summary:
This paper indicates various requirements for maintaining the insurance "Professional Liability", for insurance intermediaries, by comparing a number of features of the repealed and current regulations. The article considers how various forms of transformation into trade and legal nature, for insurance broker, influence the insurance held by him. The scope is outlined and the types of damage, that the insurance "Professional Liability" covers, when carrying out the insurance mediation from the insurance broker, are specified.
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Alexander Kanev
Meaning, A Prioricity and Reality: Wittgenstein’s Critique of Traditional Philosophy
Summary:
In recent years, largely due to the emergence of the so-called Therapeutic readings of the Tractatus,1 Wittgenstein’s critique of metaphysics has become a subject of hot debates. Arguably, three major issues divide Wittgenstein scholars. The first one is how Wittgenstein criticized traditional philosophy in the Tractatus. Did he espouse any doctrines in order to show that metaphysical utterances are nonsensical? Did he lay down necessary conditions for meaningful speaking? How are we to make sense of the penultimate remark of the Tractatus where Wittgenstein states that his own propositions are nonsensical? The next issue concerns Wittgenstein’s later criticisms of metaphysics. Notably, most interpreters of the Philosophical Investigations do not see any connection between what is arguably the central argument of the book—the famous rule-following argument—and his ‘deflationary’ conception of philosophy. So, many scholars doubt whether Wittgenstein’s rejection of metaphysics is sustained by well-developed arguments (cf. Soames 2003: 29). Those who think that he presents genuine arguments against the meaningfulness of philosophical contentions disagree on how to interpret their nature. Do they support philosophical theses? If not, then what kind of theses they support? Are they intended to support theses at all? The third issue is about the dis/continuity of Wittgenstein’s critique of traditional philosophy. Which of the Tractarian reasons for considering metaphysical questions nonsensical were maintained in Wittgenstein’s later work? Are his later criticisms of philosophical theorizing essentially different from the early ones? Did the Philosophical Investigations jettison the Tractarian strategy of attacking metaphysics?
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Dragan Georgiev
Establishing a System of Income Multiplier Profiles in the Lodging Industry
Summary:
The determination of income multiplier profile (IMP) of an enterprise, activity or department in the budgeting process is a popular method in the field of hospitality to study the influence of different value measurable key factors on the financial result. Its traditional use is associated with determining the business orientation, analyzing the profitability of products and services in order to optimize the financial result, and implementation of accounting and control strategies.
This paper presents a modified approach for establishing a system of standardized profiles, based on conception of responsibility centers under USALI, as key factors are derived from the basic algebraic relationship "cost-volume-profit".
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Todor Krystevich, Marusya Smokova, Kostadin Bashev
Measurement and monitoring of student’s Personal qualification profile
Summary:
Among the priority management goals of any higher education institution are to obtain higher professional qualification and to enhance the possibilities for students’ professional realization. The discussions about the adequacy of the training which the graduates of economic higher education institutions receive are multilayer and they are characterized by inherent contradictions in interests. One of the major reasons for these contradictions is founded on the lack of adequate and timely measures for “successful” student qualification profile. This causes a “fuzzy” perspective for a good professional realization.
The focus of this article is in the institutional research area. Its basic goal is to design a methodology and to develop and adopt a methodology for measurement and monitoring of student’s personal qualification profile through a web-based system with multivariate variables.
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Radka Vasileva
Applying the "Insurance Maximum"
in Determining the Insurer's Retention. An Example from the Bulgarian Property Insurance Market
Summary:
Reinsurance is a way for insurance companies to reduce fluctuations in their payments and to improve their financial stability. One of the problems that the risk theory in relation to reinsurance has to solve is that of the insurance maximum, i.e. the largest amount of sum insured up to which an insurance company can accept liability without worsening its financial sustainability. Through the use of data on the activity of insurers in Bulgaria, the article calculates the "insurance maximum" for individual types of property insurance. Thanks to the obtained results, it becomes possible to make a quick decision regarding the "largest amount" of the sum insured that an insurance company can take without increasing the relative average risk.
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Nikolinka Dimitrova Ignatova
Study of Competitive Advantages of Residential Properties
Summary:
The study analyzes and compares the indicators characterizing the competitive advantages of residential properties in two regions of the country – the north and south-central region. The main criteria for the selection of the two regions are the average living area per occupant, the structure of the buildings, the location of both regions and the number of counties therein. Subject of analysis are the residential properties in the northern and southern central region and the counties therein – Veliko Tarnovo, Gabrovo, Razgrad, Ruse, Silistra, Kardzhali, Pazardzhik, Plovdiv, Smolyan, and Haskovo. The study is focused on following indicators: price and quality (range) of residential properties, characterizing their competitive advantages. The time period of the study is from 2010 to 2014. The study analyzes the impact of individual factors of micro and macroenvironment on the market and the competitive advantages of residential property.
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Nikola Gaydarov
The Economy of Experiences During a Cruise Tourist Program
Summary:
In the present scientific article the issues related to the development of the economy of experiences, the peculiarities of the cruise tourist program and the analysis of the experiences during the cruises in conditions of sustainable growth of the tourist business are found. In the conditions of a sustainable market (before the COVID-19 crisis) a long-term trend was found according to which the attention of the business is focused on attracting more and more tourists wishing to board a cruise ship, thanks to the wide range of tourist offerings product. The peculiarities and advantages of the cruise casinos are described as the basis for the tourist to choose them as the main object for experience during their cruise tourist program. The limitation of the present study is the period concerning the collapse of the tourist market in all its forms, and in the author’s opinion, after the end of the health crisis the major product of the experiences will restore the interest of consumers to this kind of product.
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Milena Beneva
Implementation of Environmental Factor in Pension Investments
Summary:
Modern financial markets create a new criterion for evaluating the investment performance of companies - a multidimensional approach that combines the financial, social and environmental aspects together. A sustainable and responsible investment approach is perceived as a long-term driver of value and many institutional investors around the world, incl. pension funds, integrate it into their traditional investment process. At the same time, Bulgarian private pension funds either neglect (underestimate) the issues of sustainable development, or changå their investment policy too timidly and uncertainly.
After an in-depth analysis of the sustainable and responsible investment practices imposed by the ecological leaders among the pension funds, the current research paper offers an adapted model for integrating the "green" investment trend, consistent with the organization and development of voluntary private pension funds in Bulgaria.
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Nikolay Stoenchev, Yana Hrischeva
Investment Appeal of Residential Real Estate Property in the City of Sofia
Summary:
The current study is focused on the residential real estate property market in the city of Sofia. It examines different options for assessment of investment return on three of the most widespread types of residential housing property – studios, one-bedroom and two-bedroom flats – by residential district in the city of Sofia. A comparative static analysis has been performed according to housing location as well as a dynamic analysis in relation to a past period. For the groups of the most appealing locations, graphs have been plotted of investment return dynamics per month, for a one-year period, which reveal the seasonal character of the changes in the indicator examined. The most recent mass data are used, meeting the requirements for calculating reliable unifying characteristics. Major priorities and objective laws have been worked out, benefiting both theory and practice.
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Ivaylo Stoyanov
Indicators to Managing High Tech Enterprises
Summary:
In the crisis circumstances, technological enterprises can win if they change the way to make successful business. Therefore we think that they give a new meaning the rules for sustainable development. The fetch must be concentrates not only the customers needs. That is one of the possibilities for successful business. Because they change repeatedly their needs, the organizations not always be react in time. In this point of view high tech enterprises must be recognize the indicators that influence for successful management.
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Tatyana D. Odinokova, Jelena Lukjanova, Valentina Djakona
Innovative Activity of Small and Medium-Sized Enterprises as a Factor of Economic Growth
Summary:
The article focuses on the innovative activity of small and medium-sized enterprises and on their role in the economy of Latvia. Despite the economic growth, which has been observed in the national economy during recent years, the innovative activity of most enterprises remains rather low. The transformation of the Latvian economy in the context of modernization implies the increase in its competitiveness on the European and global markets and therefore leads to the increase of the role of SMEs.
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Kalin Ganchev
Tools of the Contemporary Protectionist Policy of the European Union
Summary:
Despite the triumphal march of economic globalization, whose main characteristic is trade liberalization, countries and supranational integration formations have not abandoned, but improved the regulatory effects on international trade. The most decisive in the conduct of protectionist policy has been, in no small part, to continue to be the leaders of economic and technological dynamism - the USA, Japan and the European Community. The paper discusses the basic measures that protectionism is applied in practice: import licensing arrangements; duties with higher rates; import quotas; MIPs; minimum duties; additional duties and / or import taxes; import bans; dumping and countervailing duties. Conclusion, that contemporary forms and manifestations of these traditional instruments to mitigate foreign goods competition in favor of taking local farms are united in a common term “neoprotectionism”, has been reached.
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Natalia F. Altukhova, Elena V. Vasileva
Internet-Entrepreneurship in Russia and the New Forms of Training Young Entrepreneurs
Summary:
The article considers features of development of startups in Russia. Department of Business Informatics Financial University under the Government of the Russian Federation teaches undergraduate and graduate students the basics of entrepreneurship on the Internet from 2015. Developed author's techniques of training of young entrepreneurs based on the use of technology design thinking. The authors use the example of a business game, which uses design thinking and Lean Startup.
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Igor Wysocki, Walter E. Block
Caplan on Probability: a Critique
Summary:
This paper addresses economic methodology, focusing particularly on Caplan’s (2003) probabilistic analysis and the problems therewith. The argument launched against Caplan is based on the fact that the said author either violates the rule of self-reference (his methodological statement) rule does not obey the standard it sets itself to judge the lower-level propositions of economics) or if it does not, Caplan is inevitably in the epistemic dark as to the probability of lower-level propositions. In the meantime, we will make an attempt at the exegesis of what Caplan may possibly mean by the notion of probability. Finally, it will be demonstrated that the criticism directed at Caplan does not apply to the methodology employed by Austrian economics.
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Olena Sharah
Quality of the Economic Growth under the Terms and Conditions of the Technological Progress
Summary:
This Paper has a two-fold purpose: 1) to explore the abstract and theoretical principles of the classical and neoclassical economic theory to the notion of the economic growth under the terms and conditions of the technological progress; 2) to try to apply these provisions with national economic practice of modern Ukraine.
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Hrabrin Bashev
To the Question of Economic Study of Agrarian Contracts
Summary:
Arround the globe, a huge number of theoretical and empirical studies and publications related to agrarian contracts of various types have been made. In Bulgaria, the studies of economic contracts in general, and of agrarian contracts in particular, are incidental, with individual researchers applying "their own" definitions and methodologies, which are often contradictory, non-comprehensive and highly debatable. The article attempts to answer several important academic and practical questions: what is an economic contract, what is the difference of the economic approach compared to other (legal, sociological, etc.) approaches to the study of contracts, what is the role of economic contracts in agrarian governance, why there is such a huge variety of contracts used by agents, etc. The achievements of the interdisciplinary New Institutional Economics are adapted and a holistic framework for the economic understanding and analysis of agrarian contracts and contractual relations in agriculture is presented. The system of agrarian contracts is seen as a complex, networked and multi-layered system, involving a variety of agrarian and non-agrarian Agents, who govern their relations and activities through various contractual Means (types of contracts), participating in the agrarian contractual Process, as a result of which in each particular time period in a given country, region, sub-sector, type of farming, agro-ecosystem, etc. dominates a certain contractual and governance Order. Like the economic analysis of the system of agrarian governance, the holistic analysis of the system of economic contracts is to apply an A-M-P-O approach, which includes an analysis of all its elements - Agents, Means, Process, and Order. The article offers an adequate economic definition of agrarian contracts and characterization of their place in the system of agrarian governance as bilateral or multilateral agreements related to agricultural production and services. After that, an economic characterization of the agents participating in the contractual relations is made, paying particular attention to their bounded rationality and tendency to opportunism. These two characteristics related to "human nature" are the reason for the existence of transaction costs and the need to choose an effective governing (contractual) form to increase the "rationality" of agents and protect against possible opportunism in their relationships.
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Milka Bakyrdzhieva
The Manipulation in Management and Mass Communication Technologies
Summary:
The aim of the research is to define the nature of the “manipulation” phenomenon and its manifestations in the management and mass communication technologies (propaganda, advertising and public relations). The research outlines some methods for managing cases of manipulation and, in certain cases - techniques for counter-manipulation.
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Hristo Sirashki
International Conference (Project ECVET)
Summary:
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Iliyan Nikolaev Hristov, Lyubomira Georgieva Dimitrova
Measurement of the Term “Readability” in the Annual Activity Reports of the Bulgarian Public Companies
Summary:
The text of public disclosures is a basic unit of communication between the enterprise and the external users concerned, in particular - the investors. The aim is for the latter to obtain information regarding the results from the activity of the enterprise, its financial position, as well as its prospects for development. A condition for achieving efficiency in this process is the ease of understanding of the published textual information, contained in the financial statements. It is essential that it is complete, accurate and reliable, presented unambiguously, clearly and specifically so that it is easily perceived and understood by its users. For this reason, the empirical study of the "readability" factor of the information disclosed in the annual reports on the activities of the Bulgarian public enterprises is of great interest.
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Elka Tsoneva
Youth Unemployment in Bulgaria - Economic and Social Problems
Summary:
Unemployment in Bulgaria is becoming a significant scales being a general problem of the society. The so-called ”risk-groups” are particularly affected. Young are the significant group of people that are not in appropriate level on the labor market. The reasons for this condition are the education which does not conform to the needs of the labor market, the difficulties of starting the first job lower pay and searching for better realization abroad after graduation. Young people are social group which represents the near future of the society. They are the most valuable treasure because of their skills, capabilities and intellectual potential are worth for our country. Exactly for this reasons the country and its government social politic should play a main role in caring of this part of the society. General prerequisite for surviving of the society as an organization is the reproduction of the human recourse and so the change of generation themselves.
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Marina Nikolova
Motivation for Development and Effects of Organic Farming
Summary:
The development of organic farming in Bulgaria is one of the priorities of the Ministry of Agriculture and Foods which works to maintain the trend of increasing the number of organic farmers, the amount of organically cultivated lands and the diversity of organically grown crops and animals. The positive effects of organic products and foods for human health, protecting the environment and preserving natural resources have been greatly popularized lately. This is also due to the fact that bigger groups and communities, both in the European Union and in Bulgaria, are interested in healthy eating and sustainable use of natural resources. This leads to the necessity of highly motivated farmers and obtaining good economic results from the introduction of organic production approaches in modern ecologically-oriented farms.
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Walter E. Block
My Case of and for Coauthoring
Summary:
The benefits of co authoring vastly outweigh the costs in my own case. So much so that I have engaged in this form of publication on numerous occasions. The present paper (single authored) sets out the advantages and disadvantages, and relates my several decades long experience with this mode of cooperative writing.
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Ventsislav Vezirov
German Literature in the Curriculum Of Bulgarian Schools
Summary:
The paper discusses the curriculum in teaching literature from Bulgarian Renaissance to the beginning of the 21st century. It traces the various stages of the inclusion of works of German authors in Bulgarian schools. In the early 20th century bad translations were used, which were without artistic value, made through an intermediary language - Russian. In the study of texts there was lexical and stylistic analysis, from which students acquire a radically different understanding of the style of the author, since the translation has no connection to the original. The proposed review introduces us to a paradox. When in Bulgarian education there were not enough translations, and the existing were too spoiled, German authors were presented better in the Bulgarian school, and now - after having created a truly unique significant translations from German writers, poets and philosophers - none of them is accessible to our students.
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Rositsa Simeonova
New Aspects of Accounting Legislation
Summary:
Accounting is an information system, which only creates information regarding the financial position, the efficiency of operations, the changes in the financial position and the cash flows of enterprises. All this suggests certain requirements for its operation and the information it creates. They are codified in the existing accounting legislation – the Accountancy Act and the applicable accounting standards. Some changes have occurred due to the influence of various factors in the accounting regulations. In recent years, the reasons for this have been related to some changes in the basic EU acts that regulate the relations in the field of accounting.
A new Accountancy Act and National Accounting Standards (NAS) amended and supplemented have been in force since the beginning of 2016. The standards set out in these regulations have led to changes in the implementation of accounting as a practical activity.
This paper highlights both the new aspects of accounting legislation and those that give rise to certain inconsistencies in interpreting them and potential problems in applying them. This is done sequentially – first regarding the Accountancy Act, and then regarding the amendments and supplements to the National Accounting Standards. Some of the arguments can be taken into account when these regulations are further updated.
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Nedim Dikmen
Nominal GDP And Macroeconomic Policy Choice: St. Louis Model Estimates
Summary:
In this study, we investigate the question of whether monetarist or Keynesian policies were more effective on GDP growth in Turkey. To this aim, we employ the St. Louis model and examine the statistical significance of the estimated parameters. The effects of changes in money supply or government expenditures on GDP growth are not only limited to the current period but might continue over time as well. Hence, we also include the lagged values of the explanatory variables in the model. The estimation period covers the 1981 – 2008 period. The model is estimated by OLS and captures the accumulated effects of the changes in the narrow and wide definitons of money supply (M1 and M2) and government expenditures on the growth of nominal GDP growth. These estimates correspond to the total or distributed lag multipliers for monetary and fiscal policies. The former is not found to be statistically significant whereas the latter is statistically significant. These findings indicate that Keynesian policies based on expansionary fiscal policy via increased government expenditures had more influence on GDP growth in Turkey than the monetarist approach. These results also reflect the various governments’ populist approaches for political purposes. Overall, we find that the St. Louis equation approach is a valid and applicable model in the Turkish case.
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Stoyan Stoykov
Some Procedural Issues Relating to Criminal Legal Protection of Resources from EU Funds
Summary:
This article is dealing with the procedural rules for investigation of crimes affecting the EU financial system. Attacks with such a specific subject are new to our penal law. However, investigations of abuse of EU funds should not create special difficulties, as though it comes to crimes related to the subject of violations that are generic objects. Native jurisprudence in the broadest sense is a very solid practice connected with crimes chl.201 chl.212-203 and CC.
By ratifying, the Convention concerning the financial protection of the European Community is applied in Bulgaria introduced additional stock of crimes, and therefore be adopted and a number of other changes in laws and regulations (Law on financial management and control of public sector § 1 item 6, the Public Procurement Act and other).
An introduction of this additional criminal law is a fact that could raise questions about the constitutionality of the extent of this protection. For the first time in the Criminal Code used terms such as "funds belonging to the European Union" or "funds available to the Bulgarian state of the European Union.
Looking on constitutionality of protection of these funds to the EU under Article 17 paragraph 2 of the Constitution, property is divided into private and public. The composition of the crimes set out in Chapter Five of the Penal Code "Crimes against property" refers to the concept of 'foreign' - foreign property, foreign property, foreign Money and foreign values. Assets from the funds of the European Union or those granted such a Bulgarian EU country, are relevant to the subject matter of the offense in Chapter V of P Code "Crimes against property.
Interpreting Article 17 paragraph 2 of the Constitution, European Union funds are public property. Constitution as fundamental law, which set the basic principles of state social control does not provide additional protection or priority in the protection of public property to private (article 17 paragraph 2 CRB).
Such additional protection on the various property is governed by the Penal Code, which exalts the offenses of illegal encroachments on the property as a crime which protects against illegal activities the funds in this case.
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Siyka Kovacheva, Donka Keskinova
Public Attitudes towards European Social Policy
(according To ESS 8 Wave)
Summary:
Social policy is often overlooked in public discourses over European integration despite that it is a significant instrument for raising its legitimacy. On the basis of systematic analysis of mass attitudes to European unification, measured in the 8th wave of European Social Survey (ESS), this paper shows that in the EC as a whole European tend to support the introduction of an all-European scheme for social assistance and to consider that more decisions taken on the supranational level will improve social security for all. At the level of the separate countries the citizens are divided in their preferences for a national or a supranational European social security system. On the individual level, the low-status groups are more inclined to support all-European social measures than the citizens at the higher ranks of the social hierarchy. The expansion of integration towards a more pro-active supranational social policy will secure the support precisely of the groups who today feel left behind in the European project.
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Branimira Assenova Koleva
Accounts Receivable and Revenue
Summary:
Revenues are the lifeblood of any organization. Without cash inflows, the entity may cease to exist. The sales account is closely tied to accounts receivables, therefore, evidence supporting accounts receivable tends to support sales. Accounts receivable is frequently the largest asset that a company has. If your company is subject to an annual audit, the auditors will review its accounts receivable and revenues in some detail to determine if they are fairly presented in the context of the financial statements as a whole.
Some companies manipulate their earning by inflating their period and receivables. When trade receivables increase, revenues increase. So, a company can increase its net income by recording nonexistent receivables.
In this article, we will answer questions such as:
• Should auditor confirm receivables to obtain reliable evidence that they are fairly presented?
• Why should we assume that revenues are overstated or understated and to apply professional skepticism?
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Branimira Assenova Koleva
Audit Procedures and Inventory Verification Techniques
Summary:
This work is aimed at supporting the work of auditors by providing theoretical knowledge and illustrative examples regarding the inspection of inventories. Determining the actual amount of available inventory is an object of very high audit risk. It is a labour-intensive procedure; therefore, more attention should be paid to it. The paper discusses the issues, techniques and procedures that an auditor and other inspection bodies can use to get the most reliable evidence of the real size and ownership of inventories.
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Silviya Kostova
Audit Procedures in Accounting Estimates and Tax Effects in Financial Statements
Summary:
Executives in enterprises make judgments in a number of cases when giving accounting estimates. In order not to mislead information users, those judgments must be reasonable and consistent with circumstances. As a result of the uncertainties inherent to operating activities, a lot of entries in financial statements cannot be assessed precisely but can only be given a rough estimate. The latter is based on the reliable information available. Conducted audit procedures are therefore essential in order to express an opinion as to the reliability of executives’ judgments. This paper aims to define the major dependencies between accounting estimates and requirements related to auditors’ professional judgment. The focus of research is on reducing information asymmetries in reporting accounting estimates and their tax treatment.
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Dwight Davison, Jay Mukherjee, David Simpson, Walter E. Block
Preserving Species
Summary:
With the 40th anniversary of the passage of the Endangered Species Act it becomes necessary to review the history of this act and its impact on achieving its goals of preventing the extinction of endangered species. Many environmentalists have argued that the only way to prevent the extinction of animals, most notable Elephant populations in Africa, is through government management and ownership. However, we argue in this paper that the best solution to preserving endangered species is creating a more free market- oriented system of private property rights over animals and land use.
Our argument is two-fold, first - that without a true market with effective property rights we encounter a tragedy of the commons where there is no effective incentive among individual actors to protect endangered animals. Second is the unintended consequences of regulation by government actors that distort the incentives of individuals to protect endangered animals. By instituting a more market oriented way of governing all animals would significantly benefit by reducing the tragedy of the commons problem and the unintended consequences of government management. Using examples from the American buffalo, African elephants, fish farms, and farm animals we try to build the case for more free market-oriented policies in achieving the goal of species preservation.
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Plamen Yordanov, Valentin Milinov, Margarita Nikolova
Characteristics of the Investment Process in Managing Financial Resouces of Supplementary Pension Insurance Funds in Bulgaria
Summary:
The object of research is the functioning of the social insurance market in Bulgaria, and the subject – the investment process in managing financial resources of supplementary pension insurance funds. The expose examines the existing interdependencies between the market supply of social insurance protection and the investment component in the process of managing the formed accumulations; the regulatory framework is outlined and the main parameters of the investment process in managing financial resources of supplementary pension insurance funds in Bulgaria are presented; the structure of the investment portfolio in managing financial resources of the supplementary pension insurance funds in Bulgaria is studied. The question is raised about the search for a reasonable compromise between the risks and benefits of a possible liberalisation of the investment process in the management of financial resources of supplementary compulsory pension insurance funds in the context of the emerging competition with the Pan-European Personal Pension Product, which is gaining popularity and distribution.
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Ventsislav Vasilev
Information from the Cash flow Statement – Possibilities for Analysis of the Activity of Insurance Company
Summary:
Cash flow statement is an integral part of the accountability of the insurance company. It is an important source of information when analyzing the financial structure of the insurance company and the types of amount of the cash flows determined of its work. Through the cash flow statement is drawn attention to the distinction between types of activity and direction of cash flows. Using some elements of the report is a prerequisite for the calculation of indicators for adequacy, profitability and rate of development of the individual cash flow. Thus becomes possible to extend the analysis of the business of the insurance company.
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Stanislava Pancheva
Accounting–information Problems Connected with Using of Non-current Assets in Non-profit Organizations
Summary:
In the scientific research, the nature of assets in the enterprises with non-profit goal is explored. On this base is suggested a definition for the assets together with some indications for accounting purposes. The criteria are differentiate, both for admitting the assets and the models of their valuation. Some problems connected with reporting of assets with public meaning and no-current assets without public meaning are outlined. Some guidelines for the resolving of these problems are shown. The position of the assets in the structural section of the annual report is determined. The information links between them are taken out.
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Elitsa Petrova
Support for the Small and Medium Business in the EU
Summary:
The purpose of the paper is to present at various national and European legislative and desirable instruments and initiatives aimed at supporting small and medium businesses. Subject of the study are small and medium-sized enterprises, European policy. The present design consists of three main modules: the first "Modern Policy in SMEs", the second module, "Entrepreneurship and public-private partnerships", the third module, "Support for EU businesses."
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Donika Stoyanova
The Impact of the Quality Management Systems on the Activities of Bulgarian Furniture Producers
Summary:
Quality management systems (QMS) undoubtedly are able to bring a number of positives in the organizations that made the decision of their implementation. They can contribute in improving the image of the enterprise to the clients and the other stakeholders; lowering the cost of internal and external nonconformities, optimizing the organizational processes and numerous other positive effects.
The article presents the results of a survey of Bulgarian furniture enterprises in the period 2015-2016 aimed to find out the benefits, realized due to implemented quality management systems.
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Sosthene Codjia, Walter E. Block
Economic Development Policies in West Africa: Making the Case for Free Enterprise
Summary:
Economic development in Africa and everywhere else for that matter, is furthered by capital accumulation. And this is fostered by economic freedom and private property rights which encourages the saving and investment which are the sine qua non of economic growth. The present paper attempts to make this case with regard to the African continent.
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Nora Nikolaeva
Post-crisis or Back to the Future and Beyond
Summary:
The main goal of the article is to define the fundamental reasons due to which the world’s leading economy has fallen into the conditions of global crisis. The advantages of the philosophy of spiritual pragmatism are revealed in search of valuable foundations of the modern world. The article is considering the need of spiritual and valuable reincarnation and the possibilities of economic alternatives and a better thinking along this line. The latter have been represented through the prism of holistic approach.
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Borislav Atanasov
Providing of Consumer Value Through the Price
Summary:
The price is an element which is present in every sale-trade. It is a source of information for the price offering of goods from the same or similar commodity groups, and it is a criterion when the different alternatives are compared and chosen. Therefore it participates in the process of creating and providing of consumer value. Different approaches of providing of value through the price, published in the literature and applicable to the retail trade are presented in the article. Based on that, the differentiated value through the price for every approach derived from the end users in the purchase process is also brought out.
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Yavor Stanev
Entrepreneurship as a Possibility for Employment (Self-Employment) and Development of Small Localities in Bulgaria
Summary:
This paper focuses on the resuls of conducting a seven-year real experiment that is still ongoing and in the course of which we have faced many challenges. The key points in the construction of an agricultural holding, whose main activity is the production of quality bee products, have been discussed. The article compares the two main types of farming – conventional and organic. Both their strengths and weaknesses have been presented. All data and indicators correspond to real prices and results. The study is entirely focused on practice and aims to show young people in Bulgaria that they can make a career and develop in their native places, instead of seeking livelihood in large cities or abroad.
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Elena Aleksandrova
Transfer of a Sole Trader Proprietorship through Transaction – Commercial and Tax Aspects
Summary:
This report provides an analysis of the legal framework of the transfer of a sole trader proprietorship through the deal. Discussed are some controversial issues related to the transfer of public duties in this type of transaction, as well as liability to the transferor. This paper examines the taxation of transactions with a sole trader discussed are cases in which it may be tax evasion. There have been suggestions for improvement and change in legislation concerning the taxation of income of the sole proprietor of transferring his business.
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Zornitsa Petkova
Application of Competency-Based Approach to Customs Control Training
Summary:
In recent years, the competency-based approach has become especially popular in the field of human resource management in all social spheres. This approach is fundamental in today’s higher education and guarantees the high quality of training. To be successful in the dynamically changing environment, young graduates need a wide range of competences. The paper corroborates the advantages of applying the competency-based approach to the training of students in customs control, which provides them with the general and specific competencies they need as customs administration officers.
This paper aims to investigate the theoretical aspects of the competency-based approach in order to corroborate the need of its application in the training of students in Customs Control in order to provide them with the general and specific competencies required by the customs administration. In order to achieve this goal, the author has set the following objectives:
- to define the characteristics of the competency-based approach and the specific usage of the terms “competence” and “competency”;
- to identifies the possibilities for applying the competency-based approach in the training in Customs Control;
- to develop and approbate a competency-based model in the course of Customs Control;
- to analyze the results achieved with the competency-based model in the course of Customs Control.
The paper proves the thesis that the competency-based approach applied to the learning process in the course of Customs Control provides opportunities for training competitive specialists who meet the requirements in this field.
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Mihail Chipriyanov, Galina Chipriyanova
Field of Application of Decision Support Systems (DSS) in Photovoltaic Project Management
Summary:
The article focuses on current issues in the field of application of Decision Support Systems (DSS) in the management of photovoltaic (PV) projects. In the era of renewable energy growth and the increasing need for environmentally sustainable solutions, PV projects are becoming increasingly important. In order to successfully execute such projects, informed decision-making and optimal resource utilization are required. One effective solution in this direction is the implementation of an integrated DSS, which supports the decision-making process. The article assesses the functions of DSS in PV projects, with a particular emphasis on its capabilities for data management and analysis, scenario analysis and simulation, as well as risk assessment and management. Using the case method, the importance of DSS in improving decision-making, optimizing resource allocation and increasing the efficiency of PV projects is argued.
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Yuriy Kuznetsov
Implementation of Best Practices of a Protection of Internet Infrastructure of the High Schools in Bulgaria
Summary:
The communications infrastructure of universities is a target of constantly increasing and new in type attacks and threats. The implementation of best practices of protection of the public information infrastructure leads to increasing its security and provides effective data protection. The analysis of the implementation of these practices at universities in Bulgaria shows that adequate attention to information security in this type of organizations has not been paid.
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William Barnett Ii, Walter E. Block
Involuntary Unemployment
Summary:
Our claim is that in the purely free enterprise system, there can be no such thing as involuntary unemployment, as long as wage demands are in accord with expected productivity, as perceived by the potential employer. Seeming counter examples are shown to violate one or more of these conditions. Nevertheless, there is great resistance on the part of professional economists to this axiomatic claim. The second part of the paper attempts to probe the cause of this resistance, and finds in praxeology, a rejection of Keynesian economics and psychological analysis, the cure for it.
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Iliyana Krysteva
Problems and Trends in the Development of the Fisheries and Aquaculture Sector in Bulgaria
Summary:
The „Fisheries and Aquaculture“sector is important not only in Bulgarian agriculture but also in the national economy as a whole. This sector contributes to protecting the environment, protecting biodiversity in aquatic ecosystems in Bulgaria, supporting the restoration and maintenance of valuable fish stocks in natural ponds and sustainable aquaculture development. This important business sector has still untapped potential for developing and creating additional jobs that are becoming more and more important in today's consumers' pursuit of healthy eating and the growing demand for fish and aquaculture.
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Yuliyan Gospodinov
Problems in defining the nature and framework of public-private partnership in Bulgaria
Summary:
Public-private partnerships (PPP) are part of the general change in the activities of the local authorities in their research for new forms of municipal management. An undeniable fact is that the last few decades have been accompanied by the strengthening of this partnership in countries transforming from planned to market oriented economies. The article examines the opinions of both individual authors and institutions, exploring the nature and the legal framework of the PPP. The result is that there has not been made a single opinion on the matter. They are all seeking a summary, starting from the agreed views in the documents of the European Union. However, there is a problem that they are not sufficient for full implementation of PPP schemes, because of the national laws of member states, including Bulgaria, and the sovereign right of each country to regulate the issues, regarding these partnerships independently.
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Diyana Ivanova
Problematic Aspects of Public Procurement in Bulgaria and Possibilities to Restrict it by Optimizing Internal Control
Summary:
Public procurement is a mechanism for spending public funds and the control on its awarding and execution processes helps to respect the law in this aspect of public sector governance. The topic is both socially important and particularly relevant, given the public procurement reform at European level, which has caused changes in our country, too. This paper studies some problematic aspects of public procurement implementation in our country. The emphasis is placed on substantial violations and proposals are made for limiting them by increasing the effectiveness of internal control.
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Valentin Panayotov
Problem Areas in the Activities of Management Consultants
Summary:
The article reveals the main problem areas in the activity of management consultants. For successful implementation of consultancy projects, it is important to select consultants with the necessary competencies and qualifications. Emphasis is placed on the appropriate personal characteristics that have a great importance on cooperative working with the client. There are those whose importance is difficult to assess, but which can have a very deep impact on the outcome of counseling. These include the consultant's belief system, source of motivation, personal ethics, objectivity, honesty, and loyalty. It is very important that these qualities appear as early as possible in the communication between the consultant and the client
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Mihail Chipriyanov
Product Benchmarking Research
Summary:
As a method for strategic research and decisions, benchmarking contributes to determining the best practices in different companies and to understanding the key factors promoting their success. To that end, the most significant achievements of others are introduced to the organization. Product benchmarking especially contributes to finding the most important factors for success in the supply market. This supports the elaboration of management decisions concerning implementing product policies and, thereby, stimulating the creation of the best product quality and increasing product value for the customers.
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Kristiyan Hadjiev, Nadia Marinova
Project-based Management/A Project Perspective of Management
Summary:
This article examines theoretical and methodological traits of project management and their practical dimensions. It proposes a project-based management perspective and argues that this perspective enjoys the flexibility enabling an organization to respond to volatile environmental stimuli, to foster its creative capacity and to maintain its competitiveness. The proposed conceptual principles and models are elicited by analyzing the structure of the management process and examining its impact on the achievement of various strategic (project) goals. Finally, we identify specific team characteristics and leadership responsibilities conducive to best results in project management.
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Georgi Tihomirov Lichev
Study of the Behaviour of Bulgarian Costumers in the Purchase of Sugar and Chocolate Products
Summary:
The activation of the scientific interest in the field of consumer behaviour is dictated by the immediate practical necessity on the contemporary stage. This article focuses on studying the behaviour of Bulgarian consumers in relation to the product group "sugar and chocolate products". This is based on an empirical survey conducted on consumers in Bulgaria. The effort to gain insight into the depth of consumer motivation and to work to increase satisfaction is well-founded, coupled with the gaining of competitive advantages. The complex situation of the consumer market is a prerequisite for many controversies, difficulties, challenges to which commercial enterprises should take a responsible attitude.
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Borislav Borisov, Teodora Filipova, Evelina Parashkevova Velikova
A Process of Implementation of Investment Projects within the Scope of Corporate Innovation Activities
Summary:
The innovation activities of the Bulgarian companies lag behind the development of innovation culture and business attitude. The problems are due to the lack of information about the characteristics of the innovations as well as the insufficient knowledge on the investment practices in this field and the available financing programmes. By means of the process approach the article aims to clarify the nature of investments and innovation, innovation project management and the possible sources of financing. An attempt has been made to justify the need for a methodology of investment projects implementation within the scope of corporate innovation activities as well to formulate some principle requirements for it.
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Rumen Erusalimov, Nikolay Valeriev Iliev
Development of Motor Third Party Liability Insurance
in Bulgaria
Summary:
The main objective of the study is to assess the current state and prospects for the development of the insurance "Motor Third Party Liability" in Bulgaria.
The dynamics of the realized gross written premium income generated by insurers and the insurance payments made by them during the period 2010-2021 are tracked in the study. The state of the insurance "Motor Third Party Liability" in Bulgaria has been evaluated using the indicator "Net Claims Ratio".
Based on the conducted research, it was concluded that the "Motor Third Party Liability" insurance product is profitable and has consistently held the leading positions in market share since 2010. The trend indicates that this is likely to remain unchanged in the near future.
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Momchil Marinov
Development of Industrial Fire Insurance at JSIC "Ozk-Insurance" JSC
Summary:
The main purpose of the study is to assess the state and prospects for the development of the "Industrial Fire" insurance policy offered by JSIC "OZK-Insurance" JSC.
The article traces the dynamics of gross written premium income realised by the insurance company and the insurance payments made by it for the period 2017-2021. Thanks to the calculated loss ratio, the status of the "Industrial Fire" insurance policy, offered by JSIC "OZK-Insurance" JSC was revealed.
On the basis of the conducted research, it was concluded that JSIC "OZK-Insurance" JSC has good opportunities for the development of "Industrial Fire" insurance.
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Stefan Simeonov, Teodor Todorov, Daniel Nikolaev
Development of Frequency Analysis of the Volatility in a Model to Forecast the Financial Markets Trend and Comparative Empirical Assessment with the Technical Analysis
Summary:
The present study aims to develop the concept of predictive applicability of the Frequency Analysis of the Volatility and Trend (FAVT) as well as practical testing of the modified model for forecasting stock exchange indexes with different characteristics. For greater objectivity in estimating the forecast outcomes, FAVT is placed in parallel with traditional statistical models and the most popular method in stock exchange traders - technical analysis. In the first part of the study we develop the methodology of the concept of predictive applicability of FAVT in its modified version with movable calculation (FAVT-MC) of the frequency coefficients. The methodology of the study includes investment analysis measures, traditional statistical forecasting models, quantitative indicators of technical analysis and a modified version of the FAVT-MC. The conclusions of the statistical analysis show low applicability of linear forecasting in determining changes in the trend, while the alternative approach – non-linear forecasting yields significantly better results but under conditions of high investment activity and large variation. The choice of technical analysis tools is deliberately placed on quantitative measures known as technical indicators and does not include Eliot's Wave Theory. The results found are of varying reliability for the over ten technical indicators applied.
Exploration of the forecasting significance of the FAVT with movable calculation for the main (long-term) trends on stock exchange indexes achieved results with a reliable signal value for the end of the large growth before the general stock market collapse at the end of 2007. Clearly unambiguous results for all the periods surveyed in the performance of the different stock indices regarding the change of their major trends after the 2008 crisis were not established. A more significant importance of the modified frequency analysis, allowing the reading of forecast signals, is established for the short-term trends of the stock exchange indices.
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William Barnett Ii, Walter E. Block
Spreading the Benefits of Productivity Increases: Price Increases, Decreases, or Both? A Critique of Baumol on Subsidies to the Arts
Summary:
This paper attempts to grapple with the market mechanism through which growth in one sector of the economy spreads to other sectors. It calls into question Baumol’s argument for subsidies to the arts and by extension, to other economic areas that have not enjoyed productivity increases.
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Tsvetelina Kabakchieva
Organic Farming - the Future of the Agricultural Economy of Bulgaria
Summary:
Organic farming owes its emergence, existence and principles to the nature itself, while the fundamental rule of its practice is to be in harmony with it, without harming it. In fact, it is a new perception of the environment and a new attitude towards its protection, both now and in the future. Organic farming combines the best environmental practices, high biodiversity, the conservation of natural resources and high production standards based on natural substances and processes. It also corresponds to a specific market that responds to specific consumer demands while at the same time it provides public goods that are in terms with environmental protection, animal welfare and rural development.
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Rosemary Papworth
Reflective Practice and Personal Development Planning for Undergraduates Studying Business and Economics
Summary:
This paper looks at reflective practice and personal development planning both from and academic and business point of view. As will be demonstrated, these skills are of fundamental importance to students wishing to pursue a career in the business world in order to properly reflect on their current practice and to further develop their knowledge and skills in a knowledge-economy based environment where human capital can be seen to be their most valuable asset. Firstly, the definition and process of reflective practice will be examined in both the academic and professional world. Personal development planning will then be examined in its relation to reflective practice and how it has already been implemented in the UK. Finally, we will look at how these processes and activities can be integrated into the academic environment.
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Nina Suhovich
The Role of Small and Medium Enterprise in the Development of Moldavian Economy
Summary:
Orientation of the Republic of Moldova's European integration, the signing of the Agreement on Partnership and Cooperation between Moldova and the European Union and Action Plan led to new requirements for the organization of manufacturing. In circumstances where it is necessary to increase production, which is very important for Moldova, a small business is particularly important.
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Branimira Assenova Koleva
The Role of Materiality and the Correct Assessment of Audit Risk in Issuing Quality Audit Report
Summary:
The Certified Public Accountant (CPA) has to take an oath before the independent financial audit may commence. Everyone has to comply with the code of ethics, perform a quality and independent work. This paper is aimed at supporting the work of auditors by providing theoretical knowledge and illustrative examples on the definition and use of audit materiality.
Each of us is a user of financial statement information, however we may not always understand from the audit report if there is an unqualified (clear) opinion (in terms of volume). This is due to the fact that the audit materiality is stated in the audit file and not considered valuable in the audit report. In addition, the audit materiality is not a public information and any errors below the level of materiality remain in the audit file. What is the level of materiality determined by the auditor, what are the rules that have led to define it? This remains confidential information.
The core of the audit is to determine the audit risk, the level of materiality and gathering audit evidence. Quality work performed by the auditor ensures audit quality. It is difficult to determine audit quality as this does not get clear from the auditor's report. Therefore, in order to better inform users of financial statements, it is required additional disclosures to be made in the audit report presented as recommendations in the study.
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Walter E. Block
Free Enterprise and Poverty: Cause or Cure?
Summary:
Poverty in general is created by governmental mismanagement. The solution to the problem is the free enterprise system. Markets reduce poverty by promoting incentives and rational economic activity. Governments exacerbate it by attacking private property, regulating business, and through taxation. The problem of black poverty stems mainly from the breakup, nay, the failure to form, of the black family. This, in turn, is traced to governmental welfare programs.
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Kalina Kavaldzhieva
Cost of Electricity Produced from Waste Processing as a Prerequisite for Social Pricing
Summary:
In a period of energy crisis, deriving the cost of electricity is a significant problem. It appears as a significant contemporary challenge, and policies to control and limit it are the main priority of the European community on its way to a green economy. Depending on the tariff/price of electricity, which directly depends on its cost price, it is determined how much the population could afford to pay for their consumed electricity. Over 96 million Europeans are at risk of poverty and social exclusion. A population that would not be able to heat their homes in winter is about 57 million. Bulgaria is the country with the highest share of the poor and at risk of poverty, including energy-dependent households, which is also confirmed by the values of the Energy Poverty Index, according to which our country has the worst indicators among the member states of EU.
The current development draws attention to the specific features of waste-based electricity calculation. Method of pricing and formation of a sustainable model for formation of tariffs. The synergistic effect from waste processing to energy production is derived. Taxes paid and additional revenues from waste processing could positively affect the price of energy obtained from waste, i.e. to reduce cost and offset costs. This phenomenon can be used as a guideline for the development and improvement of social policy in the field of social tolerance and social support of the population in Bulgaria.
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Todorka Atanasova, Nadka Kostadinova, Georgi Jeliazkov, Rumen Otuzbirov
Synergetic Paradigm and its Role in the Development of Agrarian Entrepreneurship in the Process of EU Integration
Summary:
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Nikola Yankov
A Holistic Model and Methodics for the Business Development Process
Summary:
The problem is especially valid for the 2007 – 2013 ã., in which the Bulgarian economy has to be modernized and Bulgarian enterprises to be supported in their developmental efforts by special European and national strategic programes and funds. Applying for funding the enterprises has to create their own models. Due to this we present in the study possible conceptual models. They have to be available befor the real projects for business organizational development process starts. The development process needs a comprehensise methodics for the evaluation and strategizing. It is also presented in the study.
The object of the study is a holistic concept for approaching and for development of business systems to be presented. Before to start the real development of the business systems their management has to analyse and then to strategize them as networks. The relations between different managerial documents are also examined.
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Teodora Spasova
Systematization of the Cloud Migration Approaches and Calculation of the Economic Efficiency from its Implementation in Bulgarian Corporations
Summary:
Large corporations have specific features which make their cloud migration difficult. Systematization of different approaches to transition from on-premise system to the cloud can facilitate the selection of a strategy by the management if the organization decides to make a migration step.
Migration to the cloud is generally profitable for organizations, but in order to justify the decision it is necessary to make preliminary calculations of some financial indicators. It is necessary to consider all possibilities for hidden costs, to evaluate the material and non-material benefits of migration.
The aim of the article is to classify and compare cloud migration approaches, to calculate performance indicators and to outline cloud service challenges to help managers in cloud migration decisions.
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William Barnett Ii, Walter E. Block
Scale of Values Violates Singularism
Summary:
There is at the very least a tension between two basic building blocs of Austrian economics. The doctrine of singularism maintains that choice is inevitably and necessarily between two and only two things: that which is chosen, and the next best alternative, which is set aside. However, implicit in the concept the scale of values is the claim that choice can take place over many, many alternatives. If one of these has to be jettisoned, and we argue that one must be, then we vote for the latter.
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Trayan Yosifov
Social and Economic Significance of Bulgarian Small and Medium-Sized Enterprises: SWOT Analysis
Summary:
Bulgarian economy remains within the periphery of more prominent economic processes. The country significantly lags not only behind leading European economies but also behind Central European economies, which used to have similar economic development in the early 1990s. In this respect, without a doubt, the emphasis should be put on the role of small and medium-sized enterprises, which form a fundamental part of the employment rate within the country and generate a major revenue part of the republican and local budgets. The purpose of this study is to focus on the main advantages and disadvantages of Bulgarian small and medium-sized enterprises and based on them to propose working measures for improving their market performance.
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Gerganta Tsoncheva Petkova
Specificity in Disclosure of Segment Information
Summary:
The aim of this study is to highlight the main problem areas in the disclosure of segment information by transnational companies. In them is characteristic the broad diversification that is associated with operating simultaneously in different economic spheres and in different geographical areas, and this determines the relevance of the topic. This in turn gives rise to the need for adequate accounting information that presents activity by individual component segments. In the development of the article the methods of analysis, synthesis and comparison. As globalisation processes accelerate, the number of organisations operating in different geographies and economic areas. The variety of activities they carry out are characterised by different risks, opportunities for growth and rates of return, and in order to be able to evaluate and analyse these necessary to present their activity by segment. As a result of this study, the following stand out several key points in the disclosure of segment information in recent years by transnational companies, namely: providing the opportunity for external users to get a fuller picture of their activities; the provision of information on different types of business activities/segments and different economic environments helps to better understand and subsequent valuation of a company; allows for a deeper analysis of the the past development of the enterprise, etc.
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Galina Chipriyanova
Specific Aspects of the Inventory of Assets in the Enterprises with Agricultural Activities
Summary:
Basic requirement in the activity of the agricultural enterprises is to present a true and fair financial and property status, accounted financial results and changes in cash flows. In the stage of preparation for the annual accounting closure most important precondition for this is to perform an annual inventory of assets, equity and liabilities. In the current research we will focus our attention on the inventory of assets in the agricultural enterprises.
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Daniela Feschiyan
Standardized Model for Subsequent Measurement of Fixed Assets in the Public Sector Enterprises
Summary:
This article addresses some shortcomings in the existing pricing model after recognition /post evaluation/ of fixed assets in the public sector enterprises. Prerequisite for the studied problem is the lack of standardization of the accounting system in the public sector enterprises. The author offers a standardized accounting model and argues that the problem can only be resolved with the adoption of accounting standards that would replace the current practice of regulation of accounting in the public sector enterprises with instructions and letters. The proposed accounting standard model for periodic assessment of fixed assets are designed ways and means to improve the accounting system of the public sector entities through its adaptation to the conceptual framework of international accounting standards for the public sector. This will increase the reliability and credibility of accounting information and the overall improvement of the accounting methodology.
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Yasen Daskalov
Standardized Approach to Identification of Infrastructure Assets in Public Sector
Summary:
This paper presents accounting analysis of infrastructure assets as elements of fixed assets in the public sector. Infrastructure assets are significant assets for the public sector. Significant resources of the society are invested in these assets. This paper defines public sector assets and outlines major differences with the definitions in the private sector. This paper presents a comparative analysis of the regulations on infrastructure assets in the European Accounting Rules and International Public Sector Accounting Standards. The paper presents the main accounting policies applied in accounting for infrastructure assets in New Zealand, which is one of the few countries in the world that apply the full version of International Public Sector Accounting Standards. Some of the problems in accounting for infrastructure assets in Bulgaria have been systematized.
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William Barnett Ii, Walter E. Block
The Rate of Time Preference: a Praxeological Oxymoron
Summary:
In ordinal utility analysis, one can but prefer or set aside. A person can choose option A or option B. Chalk or cheese, guns or butter. There cannot be any such thing as a rate at which a man engages in such activities. Cardinality cannot enter into the picture. No one prefers a given amount of chalk twice as much as cheese. This basic praxeological insight should not be lost sight of when we enter the more complex realm of time preference and interest rate determination. And yet, it commonly is. For we all speak of a “time preference rate.” This is an oxymoron and a praxeological monstrosity. The present paper is devoted to promoting clear thinking by attempting to purify economic language, so as to jettison the concept of a “time preference rate.”
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Viktor Hadjiev
Structural Model of Organizational Behavior
Summary:
The study examines the interaction between managerial processes, structure and goals. The nature of this interaction is conditioned upon the level of interdependence between various managerial activities and their level of complexity. The argument is that the level of managerial comprehension of organizational processes and activities is a preconditioning factor optimizing organizational performance. In addition, the study introduces a conceptual framework the helps reveal the nature of interdependence between the examined managerial units in the implementation stage of the planned strategic goals. A number of environmental factors are put into perspective in the light of strategic decision-making and organizational behavior optimization.
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Mihail Chipriyanov, Galina Chipriyanova, Hristo Vasilev
Accounting Aspects of the Acquisition of Tangible Fixed Assets Intended to Environmental Protection under the European Funds
Summary:
Exceptionally actual about the activity of enterprises is the problem of Environmental Protection. Many enterprises in accordance with the regulations of the European legislation are certified to ISO 14001 in addition to other standards ISO. A currently option for them is the acquisition of tangible fixed assets for Environmental Protection by budgetary financing programs of the European Union. The trend to implement socio-economic responsibility of enterprises reflects upon the increase of their competitiveness in the market, which in turn is a prerequisite for their greater profitability.
The major aim of this study is to supplement the accounting knowledge regarding some important components of the organization of accounting as accounting policies and chart of accounts of a company which acquires tangible fixed assets intended for the protection of the environment, as well as specific accounting entries. In a logical sequence were examined the cost of restoring the environment and the costs of environmental protection.
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Viktoriia Psota
Creation of a Mechanism for the Implementation of Green Purchases in the Public Sector: Ukrainian Experience
Summary:
The globalization of public relations has led to the need to reform the public sector of the economy. Harmonization of legislation and regulatory basis with European Union standards requires the generation of new approaches and forms of interaction between customers and participants in procurement processes. The reform of the public procurement system gave an impetus to a change in the attitude of the state customers to the procurement process and the recognition of the need to introduce green procurement.
In the article, the authors investigate the process of implementing green procurement in Ukraine, analyse the regulatory basis and determine the shortcomings in the implementation of the environmental procurement mechanism. In this work carried out a research the priority sectors of the economy for which procurement is most often realize in the regions of Ukraine and suggests using an individual approach to the implementation of green procurement, depending on the needs of the local public sector. The work has developed tools for implementing green procurement, but the mechanism for their application requires research by a wider circle of specialists in various industries. The authors note the shortcomings of the generally accepted methodology for calculating budget savings, which does not take into account the life cycle of goods, should be the future research of scientists.
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Nikolay Markov
State and Perspectives of the Situation Heritage in the Republic of Ukraine
Summary:
The situation and prospects for the development of meat-bearing cattle in Ukraine have been discussed. The survey was conducted over the period 2012-2015. Facilities were farms, business organizations, cooperatives and state institutions involved in meat-breeding cattle in the Republic of Ukraine.
There are historical, natural-climatic, fodder and economic prerequisites for the development of meat-bearing cattle breeding in the Republic of Ukraine. An existing gene pool of local breeds (Ukrainian, Volyn, Poles and Southern meats) and imported breeds (Aberdin Anguis, Simeanal, Sharole and Limosin) are observed. The technology and organization of meat-based cattle breeding in the conditions of intensive agriculture in all nature-climatic zones and administrative regions is mainly worked out, analyzed and utilized.
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Pavlin Pavlov
State and Development of „The Green Hospitality“ in Bulgaria
Summary:
The number of tourists aware of the great importance of environmental problems is constantly increasing. As a result, the number of eco-entrepreneurship initiatives in the hospitality industry has gradually increased. Therefore, the aim of the present scientific research is to establish the situation and to follow the development of the „green hospitality“ in Bulgaria, as well as to outline the prerequisites and the main obstacles for the creation of „green hotels“.
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Margarita Shopova, Ivanka Tsvetanova
Trends in the Structural Dynamics of Payments from Social Protection System in Bulgaria
Summary:
The subject of research are the payments from social protection system. A common characteristic of social protection has been made in the context of the European System of integrated Social PROtection Statistics (ESSPROS). The profile of the social protection in Bulgaria is presented on the basis of the provided benefits. Official statistical data, published by NSI and gathered through the ESSPROS is used. Descriptive analysis of the dynamics of the structure of the social benefits in Bulgaria for the period 2005 – 2016 is employed. Intensity of the changes is evaluated through the integral coefficient of structural changes.
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Hristo Sirashki
Trends in Project Portfolio Management
Summary:
The article is devoted to some aspects of the system of project management activity in project oriented organizations as there is more and more growing interest of the organizations in Bulgaria to project management usage. The main motive for this probably is the becoming aware necessity of the organizations to improve their managerial processes. The purpose of the article is to shape out some of the advantages of the Project Management Office (PMO) as an element of the system of project management and also its role in project portfolio management in project oriented organizations.
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Yordan Vasilev
Transformation Processes and Economic Priorities of Bulgaria
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Mariana Drumeva
Salt Trade of Tsvyatko Radoslavov and his Company in the 50s – 70s Of The 19th Century
Summary:
In this article the trade with rock and sea salt of one of the biggest sales companies established in the town of Svishtov in the 50s of the 19th century in the region of Vlashko has been traced. The available quantitative data available in Tsvyatko Radoslavov’s unpublished archive have been processed by outlining daily business practices in this trade and the scope of the company’s activities as well as defining the company’s profitability. Different periods of the company’s activity have been outlined, as well as the trading network of the imported salt from Romanian cities and the sale of salt in Svishtov and in the North of Bulgaria. This article is a contribution to the studying of different specific mechanisms of the trade and the justification of the thesis that Svishtov has been one of the main centres of salt trade on the southern Danube bank during the period of the Bulgarian National Revival.
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Mariana Drumeva
Trade Knowledge and Commercial Practices in the Town of Svishtov During the National Revival Period
Summary:
The article examines the prevalence of knowledge in the field of trading in the town of Svishtov during the Bulgarian Revival in the form of books containing knowledge in trading; handbooks specialized in commercial and legal matters and double-entry bookkeeping (diplography) and the inclusion of disciplines such as commerce and accounting in the curricula of schools. Attention is paid to the first commercial school in Bulgarian lands founded by D. Em. Shishmanov in 1873. Improvement of trading methods and practices of Svishtov merchants influenced by the progress in education have been viewed in this paper.It has been concluded that interconnection and interdependence of education and practice in trading is an important factor for the economic prosperity of the town of Svishtov during the Bulgarian Revival period.
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A. V. Bulavynets
Management of Loan Capital in Financing Structure of The Enterprise: Theoretical and Methodical Foundations
Summary:
In the article are explained the essence of the concepts of "loan" and "borrowed" capital. We considered that the loan capital of company characterizes part of the financial resources of the enterprise what is temporarily involved in economic activities and they can be sent to the capital market for additional income from the investment. It is advisable to understand that the borrowed capital is the financial resources of the enterprise, not belonging to him by right of ownership, but raised them in economic activities from different sources and in different forms on terms of maturity, repayment and interest payment in order to fulfill the objectives of the program of its activities.
The theoretical and methodical principles of borrowed capital management have been investigated, in particular: the directions of management (planning and capital employed, assessing the efficiency of capital employed, monitoring the timely servicing and repayment of debt); characterized by the principles on which is based capital management (accounting principle prospects of development of business, the principle of matching amounts of borrowed capital and the formation of the assets of the enterprise, the principle of optimality of capital structure from the standpoint of its effective function, the principle of ensuring the efficient use of capital employed in the course of economic activity).
Criteria of optimization of the borrowed capital to calculate its weighted average cost and term borrowings have been proposed.
A formula procedure for determining the weighted average cost of borrowed capital employed, which is based on the approximation of streaming method has been developed.
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Magdalena Mosionek Schweda, Maciej Tokarski
The Absorption of the European Funds Granted to Poland for the Period 2007-2013 – Examples of Projects and Evaluation
Summary:
Poland was granted over ˆ 67.3 billion as the European aid for the years 2007-2013. It comprised almost 20% of the total amount earmarked for the cohesion policy of the European Union for the years 2007-2013. The funds were utilized by Polish enterprises, local governments, non-governmental institutions, farmers and other entities. The main aim of this article is to present the evaluation of use of the EU funds in Poland for the period 2007-2013. The analysis was based upon the statistics data published in Poland by the Ministry of Infrastructure and Development, Eurostat and the European Commission. The analysis of the sources on the subject as well as observations of the business practices allowed forming a thesis that Poland competently utilised the European funds for the years 2007-2013 and thereby benefited considerably. Nonetheless, despite the significant influence of the funds onto the GDP growth dynamics and the increase in the standard of living, in the overall view Polish economy has not gained much in the innovation aspect due to the fact that the financial resources acquired by the Polish companies from the subsidies were largely earmarked to purchase the already existing western technologies, thus, making them dependent upon the know-how of the huge western conglomerates – which must be disapprovingly assessed.
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Daniela Feschiyan
Financial Analysis of the Structure, Composition and Effective Use of Publicly Owned Real Estate
Summary:
The research presents the structure and content for a system of indicators for financial analysis of publicly owned real estate. The aim is to clarify the logic, significance, numerical values and methods of use of the proposed indicators for financial analysis and evaluation of the effective use real estate. Potential approaches of examining their comparability and compatibility with other indicators, as well as opportunities for clustering of similar performance and time tracking analysis of objects are discussed. The methodology for deriving the indicators and their meanings enables the study of the effectiveness of the functioning of publicly owned real estate. The proposed system of indicators will improve the effective decision making in the management of publicly owned real estate. Developed by the author, a system of indicators of financial analysis of municipal property was piloted in 6 municipalities in South-Eastern Europe - the Municipality of Tirana, Municipality of Bucharest, Sofia Municipality, Municipality of Athens, City of Zagreb, and Municipality of Cajetina.
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Elitsa Dolapchieva
The Politics of the Firm toward Employment's Motivation in Wine-Producing Industry
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Karim Naama
Private Property in Terms of the Thinker Ibn Khaldun (1331-1406)
Summary:
Form of ownership became a real important aspect of modern economic system, one of the most influential forces determining the further course of development of our planet. It affects all areas of public life, including economic, political, social, culture, ecology and others.
In the face of private ownership, some experts see a serious threat to the economic system and other means for the future progress of the global economy. The positive impact of private ownership is associated with the effect of competition to which it inevitably leads and negative effects - in potential conflict.
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Ivanka Daneva
Private Pensions - the Inevitable Alternative
Summary:
The paper deals with common cases of private pension systems, which play an important and growing role in the provision of retirement age.
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Ludwig Von Mises
Human Action - Part Four, Chapter XVI. Prices, §§ 1-7
Summary:
In an occasional act of barter in which men who ordinarily do not resort to trading with other people exchange goods ordinarily not negotiated, the ratio of exchange is determined only within broad margins. Catallactics, the theory of exchange ratios and prices, cannot determine at what point within these margins the concrete ration will be established. All that it can assert with regard to such exchanges is that they can be effected only if each party values what he receives more highly than what he gives away.
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Ludwig Von Mises
Human aAction - Part Four, Chapter XVI. Prices, §§ 8-15
Summary:
In the same way in which governments restrict competition in order to improve the position of privileged sellers, they can also restrict competition for the benefit of privileged buyers. Again and again governments have put an embargo on the export of certain commodities. Thus by excluding foreign buyers they have aimed at lowering the domestic price. But such a lower price is not a counterpart of monopoly prices.
What is commonly dealt with as monopoly of demand are certain phenomena of the determination of prices for specific complementary factors of production.
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Ludwig Von Mises
Human Action, Part Four, Chapter XXII. The Nonhuman Original Factors of Production
Summary:
In the frame of Ricardian economics the idea of rent was an attempt at a treatment of those problems which modern economics approaches by means of marginal-utility analysis. Ricardo's theory appears rather unsatisfactory when judged from the point of view of present-day insight; there is no doubt that the method of the subjective-value theory is far superior. Yet the renown of the rent theory is well deserved; the care bestowed upon its initiation and perfection brought forth fine fruits. There is no reason for the history of economic thought to feel ashamed of the rent theory.
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Ludwig Von Mises
Human Action, Part Six, Chapter XXVII. The Government and the Market
Summary:
Private ownership of the means of production (market economy or capitalism) and public ownership of the means of production (socialism or communism or "planning") can be neatly distinguished. Each of these two systems of society's economic organization is open to a precise and unambiguous description and definition. They can never be confounded with one another; they cannot be mixed or combined; no gradual transition leads from one of them to the other; they are mutually incompatible.
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Yordan Vasilev
Is the Problems of Financing and Crediting of the Small and the Medium Business will Remain after our Incorporation in EU?
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Stoyan Nalbantov
“Money Laundering” Phenomenon as a Threat to the Stability of the National Economy
Summary:
This article examines the nature, complexity and specific features of the term “money laundering” as an activity of legalization of illegally obtained funds and their presentation as coming from a legitimate economic activity. What are clarified are the stages through which the process of “dirty” money laundering (placement, layering and integration) passes using multiple operations and schemes of different types and complexity. Outlined are the negative consequences and effects from the integration of criminally acquired profits in the financial system and their impact on the economic, political and social life of the country.
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Borislav Boev
Nuclear Energy and the Transition to Low-Emission Electricity System
Summary:
This article explores national and European energy development plans in the context of the transition to a low-emission economy. The current structure of the electricity system of the country, the main objectives in the national strategic document for energy development "Integrated Plan in the field of energy and climate of the Republic of Bulgaria 2021-2030" and the package "Clean Energy for All Europeans" are presented. At the same time, the main challenges that Bulgaria will face in the decommissioning of carbon-intensive electricity generation (especially coal power plants) and the construction of replacement capacity have been identified. In this context, the article highlights the main advantages of nuclear energy as a safe, reliable, sustainable, and low-emission energy source and provides specific guidelines for the expansion of nuclear energy in the forthcoming transformation of the country's electricity system.