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Non-Financial Reporting In The Extractive Industry - Regulations And Application


  • Atanasov, Atanas
  • Marinova, Rumyana


The extractive industry constitutes about 5% of Bulgaria's GDP, and the gross value added per person employed for 2016 is 47.19 thousand BGN, which assigns it a significant position in the business statistics of this country. At the same time the environmental and social matters occupy a central place in assessing the activities of enterprises in this industry. The aim of this publication is to substantiate the need to introduce uniform practices in disclosing non-financial information on the part of enterprises in the extractive industry and the ways in which the management of these enterprises communicates that information to stakeholders. The article reviews the financial statements of the ten largest companies in the industry according to the amount of realised revenue for 2017. It was found that despite the importance of the issues of environmental and social nature, the enterprises in this industry are not obliged to prepare a non-financial declaration (statement) within the meaning of the Accountancy Act, and the information disclosed by them in management reports is primarily descriptive in nature. As a result of this a proposition is put forward that, with regard to the enterprises in this industry, a requirement for the preparation of a non-financial declaration should be introduced, whereby the main part of the disclosed non-financial information is to be "structured" and appropriately linked to the financial indicators of the enterprise as part of a single integrated management report.

Suggested Citation

  • Atanasov, Atanas & Marinova, Rumyana, 2019. "Non-Financial Reporting In The Extractive Industry - Regulations And Application," MPRA Paper 96958, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:96958

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    non-financial reporting; extractive industry; non-financial declaration (statement); regulation;

    JEL classification:

    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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