Problems of Applying the International Financial Reporting Standards in Bulgaria

Author:Associate Prof. Boychinka YONKOVA

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Keywords:IFRS, accounting act, implementation, difficulties, solutions

Abstract:
Bulgaria is one of the most recent members of the European Union. This is why Bulgaria has the duty of all EU member states to follow and adhere to the program of compliance with rules. \r\nThe major problems of applying the International Financial Reporting Standards (IFRSs) concern:\r\n- Organization of the national system of accounting in Republic Bulgaria;\r\n- The health of the financial and commodity exchanges in the country; and\r\n- The overall economic environment.\t\r\n

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