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Professional Competence For Using Acounting Estimates In Corporate Financial Statements

Author

Listed:
  • Valentina Staneva

    (“Todor Kableshkov” Univesity of Transport)

Abstract

The IAS adopted in Bulgaria following its accession to the European Union introduced some new terms in the field of accounting, such as “accounting policy”, “accounting estimate”, and “accounting error”. Generally, the indigenous scepticism of professional accountants is an obstacle to their accepting the new knowledge and points of view and subsequently applying them in practice. The aim of this paper is to investigate the possibilities of unifying the professional competence of accountants and auditors in terms of using accounting estimates in financial statements of non-financial enterprises in compliance with the accounting legislation in force. In order to achieve this aim, the author has tried to outline the different meanings attributed to this term by accountants and auditors in related standards.

Suggested Citation

  • Valentina Staneva, 2018. "Professional Competence For Using Acounting Estimates In Corporate Financial Statements," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 44-53.
    • Handle: RePEc:dat:bmngmt:y:2018:i:1:p:44-53
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    File URL: http://hdl.handle.net/10610/3880
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    More about this item

    Keywords

    professional competence; accounting estimate; conceptual views; financial statements; applicable standards;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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