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  Role of the International Federation of Accountants (IFAC) in Promoting Public Sector Accounting Reform

  Digital governance and applying a framework for general purpose financial reporting by public sector entities are the key for successful reform in European countries. IFAC standard-setting activities and digital technologies in the public sector accounting are analyzed. The initiative is widely supported by IFAC member bodies and associates, ... Digital governance and applying a framework for general purpose financial reporting by public sector entities are the key for successful reform in European countries. IFAC standard-setting activities and digital technologies in the public sector accounting are analyzed. The initiative is widely supported by IFAC member bodies and associates, representing more than 3 million professional accountants across the globe. This article's purpose is to study the role of IFAC in the process of accounting reform in the public sector. It is considered that the International Federation of Accountants (IFAC) has a significant and key role in this process, promoting of the new platform for digital access to IAS- eIS and the tools to assist public sector entities transitioning from cash to the accrual basis of accounting – “Pathways to Accrual“.

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  Critical Analysis of the Rights and Obligations of the Insurance Broker Defined in the Insurance Code

  In the present work, the rights and obligations of the insurance broker (IB), which are covered by the insurance and reinsurance activity carried out by him, are examined and systematized, according to the Bulgarian legislation. The manner in which the remuneration of the IB is determined and negotiated and the possibility of its deduction from ... In the present work, the rights and obligations of the insurance broker (IB), which are covered by the insurance and reinsurance activity carried out by him, are examined and systematized, according to the Bulgarian legislation. The manner in which the remuneration of the IB is determined and negotiated and the possibility of its deduction from the amount of the insurance premium is presented. The circumstances under which IB has the right to receive both insurance premiums and important information relevant to the insurance risk, as well as documents on insurance claims, are specified. The obligations of the IB related to its information and consulting activities in informing the users of insurance services about the most rational coverage of the various types of insurance products are covered and analyzed in detail, directing individually to the most suitable of them. The obligations of the insurance company are also presented, extending to the conclusion of insurance contracts, establishing the insured event and its consequences, as well as its administrative legal obligations. In following up and analyzing the individual types of rights and obligations of the IB, a number of proposals have been made to supplement and improve the current regulations.

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  Specificity in Disclosure of Segment Information

  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. ... 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.