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Standardized Model for Accounting of Heritage Assets in the Public Sector of Bulgaria

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  • Daniela Milchova Feschiyan

    (University of National and World Economy)

Abstract

This study proves the need for the implementation of a new conceptually based standardized model for accounting of heritage assets as a component of the management of public assets. The argumentation for the scientific and social relevance of the issues is determined. It is suggested that a conceptually based standardized model for heritage asset accounting should be adopted that will bring positive effects with regard to the benefit of financial reports for society at large as well as to the information about heritage assets in Bulgaria. The place of tangible heritage assets has been identified within the structure and content of general purpose financial reports. Arguments have been given in favor of the constructed two-component conceptually based standardized accounting model for heritage asset reporting. The effects are systematized of the introduction of an improved conceptually based standardized model and the assumption is held that the problem at the national level may be resolved only by the adoption of accounting standards that could possibly replace the current practice of the regulation of the accounting in the public sector in Bulgaria through instructions. To reaffirm the research assumption and the accompanying working hypotheses the results from a empirical survey have been presented.

Suggested Citation

  • Daniela Milchova Feschiyan, 2025. "Standardized Model for Accounting of Heritage Assets in the Public Sector of Bulgaria," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 3, pages 636-657, September.
    • Handle: RePEc:nwe:eajour:y:2025:i:3:p:636-657
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    References listed on IDEAS

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    1. Anschi De Wolf & Johan Christiaens & Natalia Aversano, 2021. "Heritage assets in the due process of the International Public Sector Accounting Standards Board (IPSASB)," Public Money & Management, Taylor & Francis Journals, vol. 41(4), pages 325-335, May.
    2. Ellwood, Sheila & Greenwood, Margaret, 2016. "Accounting for heritage assets: Does measuring economic value ‘kill the cat’?," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 38(C), pages 1-13.
    3. Feschiyan, Daniela, 2013. "A Model For Financial Reporting Of Fixed Tangible Assets In Public Sector Entities," Economic Archive, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 2, pages 1-3.
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