Yearbook

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  ACCOUNTING OF FACTORING OPERATIONS IN COMMERCIAL BANKS

  In an effort to maintain their competitive advantage as intermediaries in various transactions between economic agents, banks significantly expanded the range of services they provide. Factoring operations are relatively new to our banking practice. In recent years there has been trend of increase in the number of banks offering this service ... In an effort to maintain their competitive advantage as intermediaries in various transactions between economic agents, banks significantly expanded the range of services they provide. Factoring operations are relatively new to our banking practice. In recent years there has been trend of increase in the number of banks offering this service (either directly or through subsidiaries). Commercial banks now face the problem how to manage properly this type of operations in order to minimize the associated risks. The paper makes an attempt to determine the importance of accounting systems as primary management tools in all businesses (including banks). For this aim it reviews various models for accounting of factoring operations in compliance with the current national legislation and the international accounting standards. Finally, it proposes guidelines for analyzing accounting information related to factoring operations as a tool for making rational managerial decisions regarding the financial stability and the overall management of banks.

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  HUMAN RESOURCE MANAGEMENT AT “SKF BEARINGS BULGARIA” EAD

  The competitive advantages of modern business organizations is no longer considered in relation to their tangible assets but mostly to their intangible assets. Today the emphasis is put on human capital and the effective synchronization thereof with the overall organizational strategy. Numerous studies have concluded that firms with more efficient ... The competitive advantages of modern business organizations is no longer considered in relation to their tangible assets but mostly to their intangible assets. Today the emphasis is put on human capital and the effective synchronization thereof with the overall organizational strategy. Numerous studies have concluded that firms with more efficient human resource management systems perform markedly better than their competitors and that their improved organizational performance is due to complex changes in the skills, attitudes and behaviour of their personnel. This paper presents the results of a study conducted in a large business organization in order to identify the applicable human resource management practices and to derive conclusions regarding the potential of the human resource management (HRM) system to contribute to the effectiveness of the organization. The analysis of the results identified the most and the least often applied HRM activities in the everyday routine of manual workers and administrative staff. It also identified certain differences in the application of HRM practices to both categories of staff, which suggests that different approaches are adopted regarding the different types of job positions in a presumed conspiracy to defraud the workers. The paper outlines several problem areas that require the attention of the management of the organization and proposes certain solutions. In general, the company subject to our study may be considered an example of human resource management, which confirms the hypothesis that this function is well developed in large multinational organizations. This provides the grounds to believe that their HRM system is highly efficient and has a potential for inducing positive changes in the skills, attitudes and behaviour of their staff.

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  THE IMPORTANCE OF INTERCULTURAL COMPETENCE IN THE PROCESS OF INTERNATIONAL COMMUNICATION (THEORETICAL AND PRACTICAL RESEARCH OF BULGARIAN COMPANIES)

  International business today relies heavily on the effectiveness of cross-cultural communication skills besides the good knowledge of foreign languages. The efficient combination of foreign language skills and the knowledge, understanding and acceptance of cultural differences is of paramount importance in the field of international economic ... International business today relies heavily on the effectiveness of cross-cultural communication skills besides the good knowledge of foreign languages. The efficient combination of foreign language skills and the knowledge, understanding and acceptance of cultural differences is of paramount importance in the field of international economic relations. The paper presents a study on the level of intercultural competence among Bulgarian business people and the main intercultural obstacles faced by managers and employees and an analysis of their opinion regarding certain cases of workplace relationships in terms of intercultural communication.