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LINKING ACCOUNTING INFORMATION WITH BUSINESS PLANNING IN BULGARIAN SMEs

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  • Emil PAPAZOV
  • Lyudmila MIHAYLOVA

Abstract

Observations of accountability and planning show that the best practices of leading foreign companies are poorly known and hardly used in Bulgarian small and medium-sized enterprises (SMEs). This fact is explained by the limited capacity and resources of the SMEs to conduct independent accountability in combination with an increased outsourcing of services to external specialized organizations (accounting and consulting firms). From an operational perspective this appears to be a relatively easy decision, but such a decision almost always ignores the relationship between the choice of an organizational construct of accounting and its impact on planning the cost allocation of value, the distribution of value in consistence with the life cycle of the product or service offered by a SME, the formulation of target values set by individual indicators as well as the analysis of operating costs.Under the conditions of competitive struggle questions related to the management and research of SMEs arouse interest from theoretical and practical perspective. Therefore, the objective of this paper will be to outline the idiosyncrasy of the accountability as an information base for planning activities in SMEs. The realization of this objective requires observations of SMEs from different sectors. The surveyed companies should have passed the initial stage of survival. The analysis will try to lay stress on the fact, that SMEs need – apart from carrying out routine accounting services – ideas to solve more fundamental business tasks that are connected with financial and investment problem solving, organization of analytical reporting, cost management and price formulation.

Suggested Citation

  • Emil PAPAZOV & Lyudmila MIHAYLOVA, 2014. "LINKING ACCOUNTING INFORMATION WITH BUSINESS PLANNING IN BULGARIAN SMEs," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 8(1), pages 321-327, November.
    • Handle: RePEc:rom:mancon:v:8:y:2014:i:1:p:321-327
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    References listed on IDEAS

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    1. Veronika Bumberová & Vojtěch Koráb, 2013. "Empirical development taxonomy of micro, small and medium-sized enterprises in South Moravian Region," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 61(7), pages 2021-2031.
    2. Emil PAPAZOV & Lyudmila MIHAYLOVA, 2010. "Information Provision for Strategic Planning in Bulgarian SMEs," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 11(4), pages 575-581, October.
    3. Emil Papazov & Lyudmila Mihaylova, 2012. "Quasi-Institutional Formation Of A Control Environment After The Example Of The Bulgarian Brewery Industry," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 6(1), pages 132-136, November.
    4. Flacke, Klaus & Segbers, Klaus, 2005. "Does managerial accounting follow entrepreneurial characteristics? Results of an empirical analysis of German SME," Arbeitspapiere des Lehrstuhls für Betriebswirtschaftslehre, insbesondere Controlling 8-1, University of Münster, Chair of Management Accounting.
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    Cited by:

    1. Stefanie De Bruyckere & Patricia Everaert, 2021. "The Role of the External Accountant in Business Planning for Starters: Perspective of the Self-Determination Theory," Sustainability, MDPI, vol. 13(6), pages 1-24, March.
    2. Nadiya Khocha, 2017. "The Organization Of Management Accounting At Small Enterprises In Ukraine," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 3(4).
    3. Emil Papazov & Lyudmila Mihaylova, 2016. "Accountancy-Based Sources of Information for Planning Purposes in SMEs," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 5(1), pages 173-183.
    4. Makomborero Bure & Robertson K. Tengeh, 2019. "Implementation of internal controls and the sustainability of SMEs in Harare in Zimbabwe," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(1), pages 201-218, September.

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