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LEASE AGREEMENTS IN LESSEES’ FINANCIAL STATEMENTS ACCORDING TO IFRS 16 LEASES
A main requirement in financial statements is to faithfully present the information about their elements. This also applies to financial information regarding a lease. After the adoption of IFRS 16 Leases and its entry into force on January 1, 2019, it is of paramount importance to know and apply its requirements. The changes in this Standard ...
A main requirement in financial statements is to faithfully present the information about their elements. This also applies to financial information regarding a lease. After the adoption of IFRS 16 Leases and its entry into force on January 1, 2019, it is of paramount importance to know and apply its requirements. The changes in this Standard primarily concern the reporting of lease agreements and their presentation in the lessee’s financial statements.
The research objective is to present the main points when applying the IFRS 16 Leases in the lessee’s statements. To achieve the objective the following tasks have been set in the study: Clarifying the need for a new lease accounting standard, outlining the purpose and scope of the standard, establishing the right to lease agreement and distinguishing it from services, and its accounting and presentation in the lessee’s financial statements.
Studying and clarifying the main points of IFRS 16 Leases is related to the assumption that knowing them well is a prerequisite for their proper accounting and presentation in the financial statements and hence raising their credibility.
The results achieved in the course of the study are mainly of a practical nature and can be used when applying this new accounting standard in Bulgarian accounting practice.
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STRUCTURAL CHANGES IN THE PRODUCT PORTFOLIO OF BULGARIAN INSURANCE COMPANIES
The structure of the portfolio of insurance companies shows what consumer preferences to different insurance products are. The comparison of product structures makes it possible to determine whether there is a change in the pattern of insurance consumption, to outline the reasons if there is a change and insurers to take adequate actions in line ...
The structure of the portfolio of insurance companies shows what consumer preferences to different insurance products are. The comparison of product structures makes it possible to determine whether there is a change in the pattern of insurance consumption, to outline the reasons if there is a change and insurers to take adequate actions in line with new trends in consumer demand.
The objective of this article is to assess the strength of the structural changes in the product portfolio of Bulgarian insurance companies. The assessment of the structural changes is done by tracing the dynamics in the distribution of Gross Premium Income by insurance sectors and insurance classes and also on the basis of the values of the integral coefficient of structural changes. The thesis defended is that tracking changes in the product structure makes it possible to identify the dynamics of the market shares of the insurance sectors and the insurance classes, to outline the trends in their market positions and to assess the degree of change in the consumer preferences.
In order to achieve the objective and to prove the thesis, the following tasks have been formulated: formation of the structure of the insurance market by calculating the market shares of general and life insurance; formation of the structure of the product portfolio in general and life insurance by calculating the market shares of different types of insurance; establishing the changes in the positions of the individual insurance sectors and insurance classes in the product structure; characterizing the strength of the outlined structural changes.
The survey results show that there have been changes in consumer preferences for different insurance products during the period under review. The changes in the product structure of life insurance are the most significant.
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BALANCE SHEET ITEMS OF THE BULGARIAN NATIONAL BANK UNDER THE CONDITIONS
OF EU MEMBERSHIP
The research area of the survey is the balance sheet positions of the BNB, and the subject - the convergent aspects of the BNB balance sheet items for the period 01.2006 to 03.2018. The purpose of the survey is to identify the specifics, under the currency board conditions, as well as the dynamics, trend and risk parameters of the BNB balance ...
The research area of the survey is the balance sheet positions of the BNB, and the subject - the convergent aspects of the BNB balance sheet items for the period 01.2006 to 03.2018. The purpose of the survey is to identify the specifics, under the currency board conditions, as well as the dynamics, trend and risk parameters of the BNB balance sheet items, focusing on the currency risk of USD-denominated balance sheet positions and the correlation of these positions with the GDP of Bulgaria. A special focus is placed on currency risk in USD-denominated balance sheet items. The thesis tests the existence of a direct link between dynamics in the BNB balance sheet positions and the growth of GDP, taking into account force majeure factors. The paper has the following tasks: first, study the philosophy and the regulatory framework for the structure of the balance sheet items of the BNB; study trends and dynamics of the balance sheet positions of the BNB for the period 2006-2018; thirdly, the study of the currency risk system and its effect on the balance sheet positions of the BNB; the study of the correlation relations and the influence of the passives on the active positions in the balance sheet of the BNB. Analytical results confirm leadership "risk" status for the item "Cash and cash equivalents ..." (by 61.7% of the variation) in the asset and under "Liabilities to other depositors" the liability (61.7% variation). The final correlation analysis of the relationship between dynamics in capital and liabilities positions and their impact on asset positions places a leading role as a factor of position „Total Liabilities“. The impact of its dynamics is the strongest on „Investments in securities” with a positive correlation from +0.76 and determination coefficient equal to 57.9%.
