Yearbook

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  REVENUE FROM CONTRACTS UNDER MULTIPLE-ELEMENT ARRANGEMENTS

  The study addresses issues associated with the time of origin and recognition of income in accounting. The applied principles and rules, methods and methodologies relevant to the individual economic situations related to the recognition of income are considered and analyzed. The study is devoted to the recognition of revenue from transactions for ... The study addresses issues associated with the time of origin and recognition of income in accounting. The applied principles and rules, methods and methodologies relevant to the individual economic situations related to the recognition of income are considered and analyzed. The study is devoted to the recognition of revenue from transactions for the sale of goods or services, the implementation of which is at a certain time or within a certain period. The approaches for revenue recognition in multi-component contracts and transactions are also studied. Execution times for the individual components - goods and services are discussed and the need for a new approach in the reporting of multi-component transactions is clarified. This has been done on the basis of the review of existing and applied approaches and methods and the practice and policies of companies applying the International Accounting Standards in the field of telecommunications in Bulgaria and of large and medium enterprises applying National Accounting Standards for 2019. Since the companies in Bulgaria, based on the requirements of the Accounting Act, prepare and present their annual financial statements, in compliance with the requirements of IAS or NSS, the different approaches are considered and discussed - based on the analysis of the relationship and commonalities and differences between IFRS and NSS. The study and clarification of the main points in multi-component contracts is related to the thesis that knowledge of the basic rules for transfer of control and knowledge of the principles of "unbundling" of individual components is a prerequisite for their proper current accounting and periodic presentation in financial reports, as a result of which their usefulness for the users will increase.

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  APPLICATION OF THE PRINCIPLES OF SUSTAINABILITY IN BUSINESS LOGISTICS WITH CORPORATE CUSTOMER SERVICE

  Changing economic conditions pose a number of challenges to business logistics and in particular, its role in customer service, but it can and should be linked to modern understandings of sustainability. The aim of the study is to highlight the application of the principles of sustainability in business logistics with corporate customer ... Changing economic conditions pose a number of challenges to business logistics and in particular, its role in customer service, but it can and should be linked to modern understandings of sustainability. The aim of the study is to highlight the application of the principles of sustainability in business logistics with corporate customer service. The main tasks related to the goal are: to present the content aspects of sustainability and its connection with business logistics; to bring the technological solutions in business logistics with corporate customer service in the direction of increasing sustainability; to derive the expected results from the application of the principles of sustainability in business logistics with corporate customer service. The main research thesis of the author is that digitalization in business logistics predetermines a number of changes and requires managers of large companies be innovative and creative in applying the principles of sustainability in order to provide an excellent service to ever-changing corporate customers.

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  ATTRACTIVENESS OF INVESTMENT FUNDS IN BULGARIA

  This paper addresses the issue of attractiveness of Bulgarian investment funds to various classes of investors over the last decade. It exploits data on AUM (assets under management), return, number of funds, risk profile of funds and fund managers in order to grasp trends in the investment fund sector. Also, the asset allocation in aggregate ... This paper addresses the issue of attractiveness of Bulgarian investment funds to various classes of investors over the last decade. It exploits data on AUM (assets under management), return, number of funds, risk profile of funds and fund managers in order to grasp trends in the investment fund sector. Also, the asset allocation in aggregate portfolio is traced, in order to determine the overall portfolio strategy. It turns out, that the growth of AUM is not justified by the potential of household savings and nonbank financial institutions’ asset base. The average equally weighted funds’ return is below, while AUM weighted is slightly above benchmarks for 2015-2019. The examination of the overall investment funds’ portfolio shows a strong bias towards “Cash” and “Other Investment Funds” allocation of assets. In depth examination of the portfolios of specific funds reveals an unwholesome practice of deviation from declared portfolio strategy. In addition, the low level of AUM per fund is likely to hurdle Bulgarian investment funds to offer competitive fees.