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ORGANIZATIONAL AND ACCOUNTING ASPECTS OF THE BANK GUARANTEE AS A FORM
OF SECURITY
The aim of this article is to analyze the essence of the bank guarantee, to reveal and indicate the possibilities for its utilization in the activities of the non-financial corporations.
The tasks that have been performed in order to achieve the aim are as follows: 1) Inquiring about prices of the bank guarantees as a specific financial service; ...
The aim of this article is to analyze the essence of the bank guarantee, to reveal and indicate the possibilities for its utilization in the activities of the non-financial corporations.
The tasks that have been performed in order to achieve the aim are as follows: 1) Inquiring about prices of the bank guarantees as a specific financial service; 2) Analyzing the financial/bank guarantee contracts as the basis of the relationship between the non-financial corporations-clients under bank guarantee contracts and the bank (credit institution)-guarantor; 3) Analyzing the collateral required as guarantee of loan repayment/ reimbursement by the bank-guarantor as a necessary condition for the conclusion of a financial/bank guarantee contracts; 4) Developing accounting models for financial/bank guarantee contracts in the practice of the non-financial corporations-clients under bank guarantee contracts.
The main research thesis is that the bank guarantee is a reliable business tool with increasingly wider utilization in the activity of the non-financial corporations, including its application as a securing instrument for the settlement of accounts receivable and obligations arising from commercial transactions and as a necessary condition required by the law. An important significance for accounting for financial/bank guarantee contracts in non-financial corporations-clients under bank guarantee contracts is the type of collateral provided.
The conclusions drawn in the study are that the bank guarantee is a reliable business tool/a securing instrument for the settlement of accounts receivable and obligations arising from commercial transactions, it can serve for: 1) improving the accounting organization, 2) accounting models of financial/bank guarantee contracts according to the type of collateral provided and the accounting policy followed in order to ensure fair representation of information in the annual financial statements of the enterprise.
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APPLICATION OF THE EUROPEAN FREE TRADE AGREEMENTS WITH THIRD COUNTRIES
AND THEIR IMPORTANCE FOR THE POSITION
OF CUSTOMS CONTROL IN BULGARIA
Goods origin should be regarded as a complex economic category, which, from a customs perspective, predetermines the existence of specific control guidelines. The variety of free trade agreements between the EU and third countries introduces a number of requirements, the compliance of which must be verified by the customs authorities. This ...
Goods origin should be regarded as a complex economic category, which, from a customs perspective, predetermines the existence of specific control guidelines. The variety of free trade agreements between the EU and third countries introduces a number of requirements, the compliance of which must be verified by the customs authorities. This necessitates the availability of clear technological provisions regarding the issue of proofs of origin by the Union and the verification of such proofs provided by beneficiary countries.
The study aims to assess the feasibility of the free trade agreements between the EU and third countries in our country and thus define and justify the specific characteristics of the customs procedures with regard to the origin of imported goods. This aim has been achieved through:
First. Assessment of the free trade agreements between the EU and third countries in terms of their importance;
Second. Assessment of the relevance of the European free trade agreements for the Republic of Bulgaria;
Third. Discussing the specific characteristics of the main customs procedures for control of the origin of the goods.
The main research thesis is that the provisions of free trade agreements and the related origin of imported goods are the main subject of customs control and, as being such, they have a significant impact on the foreign trade relations of our country.
As a result of the study, the importance of EU free trade agreements with third countries has been justified by the position of the customs control carried out in the Republic of Bulgaria. The foreign trade relations of our country have been analyzed and conclusions have been drawn as to the extent to which the Bulgarian business benefits from the possible customs preferences based on the origin of the goods.
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OPPORTUNITIES FOR DIRECT INVESTMENT
IN THE INFORMATION ECONOMY
As early as the second half of the twentieth century, it was already clear to all the scholars and researchers of the society and its inherent economy that the industrial economy was on the wane, and its place was gradually occupied by a new, post-industrial (information) economy.
The aim of the present paper is to highlight some aspects of the ...
As early as the second half of the twentieth century, it was already clear to all the scholars and researchers of the society and its inherent economy that the industrial economy was on the wane, and its place was gradually occupied by a new, post-industrial (information) economy.
The aim of the present paper is to highlight some aspects of the nature and characteristics of the information economy as à necessary intrinsic part of the information society and to identify the strategic and particular conditions for business investment in this new environment.
The problems to be solved in relation to the stated objective of the research are: to characterize the emerging information economy and its peculiarities; to outline the branch orientation of the foreign direct investments in the information economy; to highlight the motives that have the most significant impact on investment decisions in the post-industrial economy; to provide guidelines for adapting economic policy in line with the new realities.
The research thesis is that: the information economy changes the conditions for conducting business and also the behavior of enterprises, particularly transnational corporations, which necessitates the adaptation of the economic policy to the new realities.
The main results of the research can be summarized as follows: The theoretical foundations of the information society and economy have been clarified; The motives for direct foreign investment have been analyzed and the factors that are of major significance for FDI in the new conditions have been derived. On this basis, the relationship between the information economy and the opportunities for direct investment has been assessed; An analysis of FDI in the service sector has been made, with special attention paid to greenfield investments and mergers and acquisitions; Recommendations have been made to the economic policy so that it can be adapted to the new business and economic environment.
