Adoption Of Ifrs In Bulgaria
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Title: Adoption Of Ifrs In Bulgaria

Essay Details:

Subject: Book Reports
Author: John N
Date: June 29, 2013
Level: University
Grade: A
Length: 4 / 1173

Essay text:

The purpose of the IFRS is to develop a set of universal standards to be applied and comprehended worldwide, in order to achieve harmonization and standardization among reporting entities. Bulgaria was accepted as a member of the European Union on 1 of January 2007. A number of obligations set by the EU had to be completed in order for this to happen. One of them was the adoption of the IFRS for listed companies by the end of year 2005. Actually, this happened by the end of year 2003. Considering the small to medium businesses, the decision was left to each member of the union to decide whether or not to adopt the new standards...

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