Final Examination

Module “Finance and Accounting in English”

List of questions

Introduction to Accounting

 

1. Appearance and historical development of Accounting. Accounting and double entry bookkeeping. Accounting as a supreme form of theoretical knowledge. Functions of Accounting. Accounting as an information system. Users of accounting information and their requirements. Branches of accounting.  
2. Basic accounting elements and accounting equation. Assets as an accounting element: definition and recognition. Classification of assets. Liabilities  as accounting elements: definition, recognition and classification. Owner`s capital (equity) and its forms. Income and expenses and their influence  on owner`s capital.
3. Identity and components  of the Accounting method. The balance sheet: identity, contents and structure. Types of balance sheets. Business transactions and their impact on the balance sheet.  The system of  accounts: definition and purposes. Classification  of accounts. Chart of accounts. Double entry bookkeeping technique. Types of journal entries. Balancing-off  the accounts. Closing entries. Accounting errors. Relationship between the balance sheet and the  system of accounts in the accounting cycle.
4. Documentation of business transactions in bookkeeping system as a component of the Accounting method. Types of documents. Documents turnover in an entity.  Stock-taking, measurement and costing as components of  the Accounting method. Periodic summary of bookkeeping data into financial statements.

  

Financial Accounting

 

1. Financial Accounting and Financial Reporting. The regulation of Fnancial Reporting. The usefulness of accounting standards. Conceptual Framework for Financial Reporting. The objective of general purpose financial statements. Underlying assumptions. Qualitative characteristics of useful financial information. Definition, recognition and measurement of the elements from which financial statements are constructed. Profit measurement. Concepts of capital and capital maintenance.
2. Accounting for Property, plant and equipment. Initial recognition,  initial measurement and subsequent measurement of Property, plant and equipment. Recording and presentation of revaluations  at fair value under revaluation model. Accounting for acquisition and disposal of Property, plant and equipment. Depreciation and depletion. Subsequent expenditure and impairment of  Property, plant and equipment.
3. Accounting for Leases. Classification of leases as a finance lease and an operating lease. Minimal lease payments, guaranteed and unguaranteed residual values. Accounting for finance lease  and operating lease by lessee and lessor. Recognition of interest expense or income under finance lease.
4. 8.        Accounting for Investment property. Applying the definition of  Investment Property. Recognition and initial or subsequent measurement. Transfers to or from Investment Property classification. Disposal of Investment Property.    
5. 9.        Accounting for Intangible Assets. Definition, recognition and initial measurement. Accounting treatment of Research and Development costs. Classification of Intangible Assets based on their useful life. Subsequent measurement of intangible assets.
6. Accounting for Inventories. Definition, recognition and measurement. Write-down of Inventories to net realisable value. Perpetual and periodic  inventory measurement. Cost formulas and expense recognition. The influence of inventory costing over the reported profits. Accounting for manufactured finished goods and their sale.
7. Accounting for Revenue. Definition and measurement of revenue. Revenue recognition for sale of goods, rendering of services, interest, royalties and dividends. Revenue recognition on long-term construction contracts. Accounting for Trade and Other Receivables. Accounting for uncollectible amounts and their presentation.
8. Accounting for current and long-term liabilities. Issuance of bonds and notes. Recognition and presentation of Provisions and presentation of Contingent liabilities.
9. Presentation of financial statements in accordance with the International Accounting Standards. Components of financial statements. Identification of financial statements. Reporting period.
10. Accounting for Shareholders` equity. Issuance of shares. Reacquisition of own shares and retirement or sale of treasury shares. Calculating Earnings per share.
11. Accounting for profit or loss for the period. Statement of comprehensive income (or income statement): contents, structure and purposes. Recording and presentation of  operating expenses by nature or function. Recording and presentation of finance expenses and finance income. Accounting for current and deferred income taxes. Distribution of retained earnings. Retained losses recovery.
12. Statement of financial position (balance sheet) and Statement of changes in equity: contents, structure and purposes. Current/non-current or long-term/short term classification of  assets and liabilities on the balance sheet. 
13. Statement of cash flows: contents, structure and purposes. Classification of cash flows. Cash and cash equivalents. Presentation of cash flows of interest and dividends.  Direct and indirect method of preparing a Statement of cash flows.

 

Management Accounting

 

1. Conception about the essence of income and costs and their classification for the purpose of the Management Accounting. Direct costs and manufacturing overhead. Manufacturing costs and non-manufacturing costs. Product costs versus period costs. Cost classifications for  predicting cost behavior. Opportunity costs. Sunk costs.
2. Introduction to Costing theory. Costing methods. Job-order costing: cost flows – material usage; cost flows – labor; application of manufacturing overhead.  Process costing: calculating and using  equivalent units of production;  equivalent units of production  - weighted average method; equivalent units of production  - FIFO method. Differences between  Job-order  and Process costing. Activity-based costing.
3. Cost behavior: analysis and use. Cost - Volume - Profit relationships. Contribution margin ratio. Break-even analysis. Equation method. Contribution margin method. Target profit analysis. The Margin of safety. Operating leverage. Multi-product  break-even analysis. Assumptions of CVP analysis.
4. Profit planning. Advantages of budgeting. Responsibility Accounting. The Sales budget. Expected cash collections. The Production budget. The Direct materials budget. The Direct labor budget. Manufacturing overhead budget. Selling and administrative expense budget. The Cash budget. The budgeted Income statement. The budgeted Balance sheet.
5. Setting Standard costs. Standard cost variances. Variance analysis cycle. Material variances. Responsibility for material variances. Labor variances. Responsibility for labor variances. Flexible budgets and overhead analysis: static budgets and  performance reports.  Flexible budget performance report. Overhead rates and overhead analysis.

 

 

Banking Accounting

 

1. Accounting for equity and debt capital in commercial banks. Brief overview of equity. Accounting for share capital. Accounting for capital reserves. Accounting for profits and losses. Definition and classification of debt capital. Accounting for received term deposits. Accounting for debt on current and other accounts. Accounting for loans obtained and other debt.
2. Accounting for cash-emission activities. Accounting for operations of the Bulgarian National Bank (BNB). Accounting for cash transfers in BNB branches and in commercial banks. Accounting for cash operations in local currency. Accounting for cash operations in foreign currency.
3. Accounting for bank loans. Main characteristics and classification of bank loans. Accounting  for contracted, but unutilized loans. Accounting for granted loans. Accounting for loan collaterals. Accounting for loan repayments. Accounting for non-performing loans.
4. Accounting for non-cash payments. Main characteristics of domestic non-cash transfers  and foreign payments. Accounting for inter-bank money transfers. Accounting for credit transfer payments. Accounting for payments through direct debit. Accounting for payments via covered letter of credit. Accounting for payments via non-covered letter of credit. Accounting for payments via cheque.
5. Accounting for bank expenses  and revenues. Nature, characteristic and classifications of bank expenses. Accounting for financial expenses. Accounting for operating expenses by nature (cost element). Accounting for prepayments. Nature and characteristics of bank revenues. Accounting for financial income. Accounting for income from sales. Accounting for deferred income.

 

Corporate Finance

1. Risk      and return in investment decisions: Relationship between risk and return.      Components of Investment Risk. Diversification and Portfolio Theory. Beta      Coefficients and Market Risk. Capital Asset Pricing Model.
2. Valuation      of investments in financial assets: Valuing fixed-income securities –      bonds, annuities, perpetuities, preferred stock. Valuing common stock.
3. Valuation      of investments in real assets: Capital Budgeting. Definition and      estimation of net cash flows. Methods of assessment of capital-investment      projects. Accounting for inflation in the valuation of investments in real      assets.
4. Corporate      financing: Sources of long-term finance. Cost of debt and equity. Weighted      average cost of capital.
5. Financial      and capital structure: Financial leverage and financial risk. Business      risk and operating leverage. Capital structure and company value.
6. Working      capital management: Working capital and short-term financing. Inventory      management, receivables management and cash management.

 

Monetary Theory and Policy

1. Money      and interest rates. Meaning of money. Functions of money. Evolution of the      payments system. Measuring money. Essence of interest rates. Measuring      interest rates. Present value. Yield to maturity. Prices of financial      instruments. Alternative measures of interest rates. Real and nominal      interest rates. The theory of asset demand.
2. Behavior      of interest rates. Risk and term structure of interest rates. Supply and      demand in the bond market. Changes in equilibrium interest rates. Supply      and demand in the money market: the liquidity preference framework.      Changes in equilibrium interest rates in the liquidity preference      framework. Money supply and interest rates. Risk structure of interest      rates. Term structure of interest rates.
3. The      Central Bank, multiple deposit creation and the money supply process. The      central bank balance sheet and monetary base. Participants in the money      supply process. Control of monetary base. Multiple deposit creation: a      simple model. Critique of the simple model. The complete model of money      supply and the money multiplier. Determinants of money supply. Bank      panics.
4. Monetary      policy instruments. Conduct of monetary policy: goals and targets. Open      market operations. Discount policy. Reserve requirements. Administrative      (non-market) instruments. Goals of monetary policy. Intermediate and      operating targets of monetary policy. Choosing intermediate and operating      targets. Rules versus discretion. Monetary policy rules.
5. Currency      boards. The nature of currency boards: strengths and weaknesses of      currency boards. The banking system under a currency board. The fiscal      policy under a currency board. The Bulgarian currency board: introduction      and specifics. Bulgaria’s exit strategy.
6. Demand      for money. Quantity theory of money. Keynes’s liquidity preference      theory. Contemporary developments in the Keynesian approach. Friedman’s      modern quantity theory of money. Empirical evidence on the demand for      money. Stability of money demand.
7. The      IS-LM model. Monetary and fiscal policy in the IS-LM model. The      ISLM model. The IS-LM approach to aggregate output and interest rates.      Factors that shift the IS and LM curves. Changes in equilibrium level of      the interest rates and aggregate output. Effectiveness of monetary versus      fiscal policy. Targeting money supply versus interest rates. IS-LM model      and the aggregate demand curve.

Banking

1. Yield      from fixed income securities. Bond’s price determination. Bond’s yield.      Income changes over time. Expected and received income. Default. Spot and      forward interest rates. Variable yield securities. Book value, parity      value, market value. Dividends. Convertible bonds.
2. Bank’s      economy. Balance sheet of the bank. Basic balance positions. Bank’s      liquidity. Solvency of banks. Liabilities management. Assets management.      Combined liquidity management. Interest rate sensitive liabilities and      assets - "gap" analysis. Profitability of banks.
3. Liabilities      and liability operations. Liabilities’ structure. Equity and special      requirements for capital adequacy. Basel Capital Accords. Interbank      liability operations. Re-discounting. Off-balance sheet items.
4. Assets      of the bank. Type of assets. Cash balances and claims from banks.      Portfolio of securities and loans. Portfolio selection. Bank’s own fixed      assets. Bank loans. Credit procedure. Types of bank loans. Loan operations      of the bank – overdraft, credit facilities, discount operations,      syndicated loans, project financing. Special forms of credit – leasing,      franchises, factoring, forfeiting.
5. Payment      intermediation by the bank. Forms of payment. Bank transfers – types, handling      procedures. Clearing and settlement. Organization of electronic payments      with bank cards. Gross and net settlement payment systems. Securities      settlement systems (SSSs). Payment systems oversight. Payment systems and      SSSs in Bulgaria.

Public Finance

1. Public Goods. Public Goods Defined. Efficient Provision of Public Goods - Deriving the Efficiency Condition, Problems in Achieving Efficiency, the Free Rider Problem. The Privatization Debate -Public vs. Private Provision, Public vs. Private Production.
2. 47. Externalities. The Nature of Externalities. Graphical Analysis. Private Responses to Externalities - Bargaining and the Coase Theorem, Mergers, Social Conversations. Public Responses to Externalities – Taxes, Subsidies, Creating a Market, Regulations, Evaluation. Positive Externalities.
3. 48. Income Redistribution: Conceptual Issues. Rationales for Income Redistribution –Utilitarism, The Maxmin Criterion, Pareto Efficient Income Redistribution, Nonindividualistic Views, Other Considerations.
4. 49. Cost-Benefit Analysis. Present Value. Project Evaluation Methods. Discount Rate for Government Projects - Rates Based on Returns in the Private Sector, Social Discount Rate, Government Discounting in Practice. Valuing Public Benefits and Costs - Market Prices, Adjusted Market Prices, Consumer Surplus, Inferences from Economic Behavior, Valuing Intangibles. Uncertainty.
5. Tax      Incidence: General Remarks - Only People Can Bear Taxes, Incidence Depends      on How Prices Are Determined, Incidence Depends on the Disposition of Tax      Revenues, Tax Progressiveness Can Be Measured in Several Ways. Partial      Equilibrium Models - Unit Taxes on Commodities, Ad Valorem Taxes, Profits      Taxes, Tax Incidence and Capitalization. General Equilibrium Models - The      Harberger Model.
6. Taxation and Efficiency. Excess Burden      Defined. Excess Burden Measurement with Demand Curves – Preexisting      Distortions, The Excess Burden of a Subsidy, The Excess Burden of Income      Taxation. Differential Taxation of Inputs.
7. Efficient and Equitable Taxation. Optimal      Commodity Taxation – Neutral Taxation, The Ramsey Rule, Equity      Considerations (Vertical Equity). Optimal User Fees. Optimal Income      Taxation - Edgeworth’s Model, Modern Studies. Other Criteria for Tax      Design – Horizontal Equity, Tax Evasion.

International Finance

1. International finance – subject, importance,      key notions. Exchange rates – definition and types. Nominal, real,      effective exchange rates. Spot and forward exchange rates. Exchange-rate      determination. Exchange rate relationships with inflation and interest      rates. Purchasing power parity (PPP). Interest rate parity.
2. Balance of payments (BoP). Definitions,      concepts and principles. Structure of BoP. Structure and characteristics      of the current account, capital account, financial account. Financing of      the BoP. Interpretation of the BoP structure and position. International      investment position of the country.
3. Foreign exchange market – types and      participants. Types of foreign exchange transactions – currency forwards,      futures, options, swaps – and their characteristics. Exchange-rate policy      of the central bank. Foreign exchange interventions. Gross foreign      exchange reserves. Management of gross foreign exchange reserves.
4. Foreign exchange regime. Types of foreign      exchange regimes. Currency Law – subject of regulation, transactions,      payments and institutions and measures for foreign exchange control.
5. Exchange-rate systems – definition and      classifications. Fixed, floating and hybrid exchange-rate systems.      Advantages and disadvantages of fixed and floating exchange-rate systems.      Fixed exchange rate under a currency board arrangement (CBA). CBA vs.      Central bank. Institutional and operational features of the Bulgarian CBA.
6. Theory of optimum currency area. Common      currency and common central bank. Benefits and costs of a common currency.      European Monetary Union. European Central Bank’s monetary policy –      monetary policy strategy and operational framework.

Insurance

1. The Nature of Insurance. Functions of      Insurance. Insurance Risk. Insurable Interest.
2. Principles of Insurance. Forms of Insurance.      Types of Insurance. Types of Insurance Companies.
3. Characteristics of an Insurance Contract. The      Concept of Indemnity. Deductible.
4. Liability Insurance. Automobile Insurance.      Motor car Accident Insurance.

Bank Risk Management

1. Banking risk. Definition. Classifications of      banking risks and their characteristics. Credit risk. Market risk.      Liquidity risk. Operational risk. Other specific banking risks.
2. Banking regulation. Theories for banking      regulation. Need for regulation. Capital base. Capital adequacy.      Risk-based capital regulations. Legal provisions. Capital accords – Basel      I, Basel II – Pillars 1, 2 3 and their features, advantages and      disadvantages. Introduction of Basel III.
3. Risk management process. Aims, principles and      functions. Stages of risk management process. Risk management      organization. Risk control units in the banks and their functions.
4. Bank risk measurement and management.      Standardized, foundation and advanced approaches. Value at Risk (VaR)      approach. Stress tests. Back tests. Risk mitigation techniques –      collateral, guarantees, credit derivatives.
5. Credit risk. Types of credit risk and      approaches for credit risk assessment. Methods for credit risk management.      Creditworthiness. Types of collateral. Collateral assessment indicators.      Receivables and rights in pledge. Assignment of receivables. Pledge and      mortgage. Insolvency of a borrower. Moratorium.
6. Market risk. Liquidity risk. Operational      risk. Types of market risks – interest rate risk, commodity risk,      exchange-rate risk. Regulation of market, liquidity and operational risks.      Capital requirements for these banking risk.Methods for measurement and      management of market, liquidity and operational banking risks.

Stock Exchanges

1. Bulgarian Stock Exchange – XETRA trading      platform: trading model, continuous trading, auctions, volatility      interruptions.
2. Bulgarian Stock Exchange – order types:      market orders, limit orders, market to limit orders, iceberg and stop      orders. Additional criteria for execution and validity of the orders.      Quotation methods and deals execution.
3. Organization and functioning of the stock      exchange market – establishment and history of the stock exchange markets;      primary and secondary market; market participants.
4. Stock market indexes – definition, types,      calculation methodology, applications.
5. Derivatives – definition, types (forwards,      futures, options, swaps); exchange-traded and OTC derivatives; risk      management using derivatives; advantages and criticism of derivatives      markets.
6. Options trading strategies – long and short      positions on call and put options; bull call spread, bear put spread,      straddle, strangle – market situation, break-even-points calculation,      determination of the profit and loss zones.
7. Institutions on the Bulgarian capital market      – regulative functions of Financial Supervision Commission for the      non-banking financial sector; Central Depository functions and settlement      mechanism; functions of Bulgarian National Bank as an agent for government      bonds placement.
8. Financial ratios analysis – liquidity,      debt, profitability and turnover ratios; price multiplies.      Characteristics, calculation and application of financial ratios in public      companies comparison.
9. Margin trade – cash and margin trade, margin      types, buying on margin, price of a margin call, profit and loss from      buying on margin, short sale, profit and loss from short sale.
10. Bulgarian Stock Exchange – history, types of      listed securities (shares, bonds, rights, compensatory instruments, shares      of Special Investment Purpose companies, shares and units of collective      investment schemes), market segments; market capitalization; market      participants.

Social Security Finance

1. Social security system – basic principles and      system structure, social security pillars, social risks and benefits.
2. Types of pension benefits – old-age pension,      disability pension, survivor’s benefits. Models for determining pension      size.
3. Supplementary mandatory pension insurance –      structure of pension funds, insured persons, benefit payments, pension      fund investments.
4. Health insurance – system structure, insured      persons, contributions and benefit payments.

Tax control

1. Tax assessment procedure – tax audit, tax      report, tax assessment act. Appeal against tax acts /administrative and      court appeal/.
2. Revenue process – tax returns, collection and      execution procedure, security and execution procedure, avoidance of double      taxation procedure.
3. Corporate income taxes – taxable persons,      types of taxes, taxable bases, tax returns and payment of taxes. Specifics      of control on corporate income taxes.
4. Personal income taxes – taxable persons,      types of taxes, taxable bases, tax returns and payment of taxes. Specifics      of control on personal income taxes.
5. Value added tax /VAT/– taxable person,      registration and deregistration, types of supplies, chargeable event, taxable      base, tax deduction, VAT payment and VAT refund. Specifics of control on      VAT.

Auditing

1. Objective and general principles of external      audit engagements. Stages of an external audit.
2. Concept of materiality, true and fair      presentation and reasonable assurance.
3. Concept of an audit risk affecting the audit      of an entity and components of an audit risk.
4. Nature and purpose of test of control and      substantive procedures and difference between them.
5. Types of opinions provided in the statutory      audit.

 

ОСНОВНА И ДОПЪЛНИТЕЛНА ЛИТЕРАТУРА

към въпросника за държавен изпит

на специалност „Финанси и счетоводство“ – с преподаване на английски език

 

Introduction to Accounting

Basic

1. Philip E. Fess, Carl S. Warren, Accounting Principles,  South-Western Publ. Co., 1986.
2. Kermit D. Larson, William W. Pyle, Fundamental Accounting Principles, IRWIN, 1988.
3. Трифон Трифонов, Теория на счетоводството, философско-икономически основи и моделиране, Университетско издателство „Стопанство”, С., 2011.

 

Supplementary

1. Jack L . Smith, Robert M. Keith, Accounting Principles, McGraw-Hill Book Co, 1987.
2. Tony Davies, Tony Boczko, Financial Accounting : An Introduction, McGraw-Hill, 2005.
3. Проф.д.ик.н. Михил Динев, д-р Катя Златарева, Теоретични основи на счетоводството, Издателство на ВУЗФ, С., 2011.

 

Financial Accounting

 

Basic

       1. Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Intermediate Accounting:

IFRS Edition, John Wiley and Sons, Inc., 2011.

       2. Baruch Englard, Intermediate Accounting I, Second Edition (Schaum's Outline Series), 2007.

       3. Baruch Englard, Intermediate Accounting II, Second Edition (Schaum's Outline Series), 2007.

 

Supplementary

1. Donald E. Kieso, Terry D. Warfield, Jerry J. Weygandt, Intermediate Accounting, John Wiley & Sons Canada Limited, 2004.
2. Проф. д-р Иван Душанов, проф. д-р Марин Димитров, Курс по счетоводство на предприятието, Седмо преработено и допълнено издание, „Ромина”, 2011.
3. Bill Collins, John McKeith, Financial Accounting and Reporting, McGraw-Hill, 2010.
4. Robert Libby, Patricia A. Libvy, Daniel G. Short, Financial Accounting, IRWIN, 1996.

 

Financial Accounting

Basic

       1. Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Intermediate Accounting:

IFRS Edition, John Wiley and Sons, Inc., 2011.

       2. Baruch Englard, Intermediate Accounting I, Second Edition (Schaum's Outline Series), 2007.

       3. Baruch Englard, Intermediate Accounting II, Second Edition (Schaum's Outline Series), 2007.

 

Supplementary

1. Donald E. Kieso, Terry D. Warfield, Jerry J. Weygandt, Intermediate Accounting, John Wiley & Sons Canada Limited, 2004.
2. Проф. д-р Иван Душанов, проф. д-р Марин Димитров, Курс по счетоводство на предприятието, Седмо преработено и допълнено издание, „Ромина”, 2011.
3. Bill Collins, John McKeith, Financial Accounting and Reporting, McGraw-Hill, 2010.
4. Robert Libby, Patricia A. Libvy, Daniel G. Short, Financial Accounting, IRWIN, 1996.

 

Management accounting

Basic  bibliography

Цб I 4900

Botten, Neil

Management Accounting - Business Strategy : CIMA`S Official Learning System / Neil Botten . - 2007 edition . - Amsterdam etc. : Elsevier, 2006 . - 633 p.

 

Цб II 82613

Handbook of Management Accounting Research : Volume 3  /  Ed. by Christopher S. Chapman, Anthony G. Hopwood, Michael D. Shields . - Amsterdam etc. : Elsevier, 2009 . - [138 p.].

 

Цб II 81241

Seal, Will

Management Accounting / Will Seal, Ray H. Garrison, Eric W. Noreen . - 3 ed. . - London etc. : McGraw-Hill, 2009 . - 856 p.

 

Цб II 79440

Contemporary Issues in Management Accounting  /  Ed. by Alnoor Bhimani . - Oxford : Oxford University Press, 2006 . - 447 p.

 

Additional bibliography

 

Цб I 4510

Management Accounting  / Monte R. Swain, W. Steve Albrecht, James D. Stice, Earl K. Stice . - 3th ed. . - Thousand Oaks, California : Thomson ; South - Western, 2005 . - 679 p.

 

Цб II 78623

McDonald, Malcolm

Key Account Management : The Definitive Guide / Malcolm McDonald . - 2d ed. . - Amsterdam etc. : Elsevier, 2007 . - 389 p.

 

Цб II 80380

Studies in Managerial and Financial Accounting : Volume 16  /  Ed. by Marc J. Epstein, Jean-Francois Manzoni : Elsevier V. 16.. Performance Measurement and Management Control : Improving Organizations and Society . - 2006 . - 503 p..

 

Banking Accounting

1. Ryan, S., Financial Instruments and institutions, John Wiley &Sons, 2007
2. Стоянов, Ст., Фесчиян, Д., Башева, Сн., Банково счетоводство, Стопанство, 2008
3. Фесчиян, Д.,Рангелова, Л., Пожаревска Р., Савова К., Начкова М. Начкова; Счетоводство на банките - сборник задачи, изд. “Стопанство”, гр.София, 2009
4. Law on Credit Institutions, Law on the Bulgarian National Bank, Ordinances of BNB
5. Model chart of accounts of bank

 

International Accounting Standards

1. Nandakumar,Kalpesh J. Mehta, Dr. T.P. Ghosh, Dr. Yass A. Alkafaji., Understanding IFRS Fundamentals., 2010.,John Wiley & Sons, Inc.,
2. www.iasb.org  IASB - International Accounting Standards Board
3. www.ifac.org IFAC - International Federation of Accountants

 

Corporate Finance

 

Main literature:

1. Brealey R.A., Myers S.C., Allen F. - “Principles of Corporate Finance”, 9^th, McGraw-Hill Irwin, 2008
2. Brealey R.A., Myers S.C., Allen F. - “Corporate Finance”, 8^th Edition, McGraw-Hill Irwin, 2006
3. Ross, S.A., Westerfield R.W., Jaffe J. – “Corporate Finance – Core Principles and Applications”, 2^nd Edition, McGraw-Hill, 2009
4. Ross, S.A., Westerfield R.W., Jaffe J. – “Corporate Finance”, 7^th Edition, McGraw-Hill, 2005

 

Additional literature:

1. Ненков, Д. – “Финансов мениджмънт – кратък курс”, С., 2008 г.
2. Николова, Н. - “Корпоративни финанси” С., 2007 г.
3. Петров, Г. и колектив - “Корпоративни финанси” С., 2004 г.
4. Александрова, М. – “Оптимизация на инвестиционния избор”, С., 2001 г.

 

Monetary Theory and Policy

 

Basic

      1. Mishkin, Fr., The Economics of Money, Banking, and Financial Markets., Pearson Addison,  Wesley.

      2. McCallum, Bennett, Monetary Economics. Theory and Policy, Macmillan, New York

      3. Младенов, М., Пари, банки, кредит., PRINCEPS, София

      4. All BNB publications, www.bnb.bg

 

 

Additional

 

Baumol, W. The Transactions Demand for Cash: An Inventory Тheoretic Approach, Quarterly Journal of          Economics, 1993.

 

Brunner, K., Meltzer, A., Predicting Velocity, Journal of Finance, May 1963.

 

Campbell, C., Campbell, R., An Introduction to Money and Banking, 1984.

 

Enoch, Ch. and  J.  Green (Editors), Banking Soundness and Monetary Policy, IMF, 1997.

 

Friedman, M., A. Meltzer, J. Tobin, P. Davidson, Don Patinkin, Milton Friedman’s Monetary Framework, The University of Chicago Press, Chicago and London, 1974.

 

Friedman, M., The Role of Monetary Policy, American Economic Review, 1968.

 

Friedman, M., The Demand for Money, Journal of Political Economy, August 1959.

 

Friedman, M., A Theoretical Framework for Monetary Analysis, Journal of Political Economy, 1970.

 

 Friedman, M., Schwartz, A., A Monetary History of the United States, 1897-1960.

 

Исинг, О.  Въведение в теорията на парите, Мюнхен, изд. Фр. Вален, 1996.

 

Кейнс, Дж. М. Обща теория за заетостта, лихвата и парите, PRINCEPS, София, 2001.

 

 Mankiw, G. (Editor), Monetary Policy, NBER, Chicago, London, 1994.

 

Неновски, Н. Търсенето на пари в трансформиращите се икономики, София, 1997.

 

Roussenova, L., Proykova, A. and Stauffer, D. Nucleation of Market Shocks in Sornette-Ide Model, Quantitative Finance, Vol. 3 (2003), 1-4

 

Roussenova, L. The 1996-1997 Financial Crisis in Bulgaria, paper presented at the International Seminar on Comparative Experiences in Confronting Central Banking problems, organized by the World Bank, the IMF, the EBRD and the National Bank of Poland, Warsaw, Poland, April, 2002,www1.worldbank.org/finance/htlm/ECA_banking.html

                                                                            

Roussenova, L. The Bulgarian Currency Board: Specifics, Experience, and Possible Challenges, paper presented at a conference, organized by London Business School in 2001

 

Banking

Casu, B., Girardone, C.,  Molyneux P. (2006) Introduction to Banking,  1^st Ed., Prentice  Hall.

Bodie, Z., Kane A., Marcus A. (2006) Investments, 6^th Ed., McGraw –Hill/Irwin.

Mishkin, F.S (2004) Money, Banking and Financial Institutions, 7^th Ed., Pearson Addison-Wesley.

European Central Bank (2010) The Payment System. http://www.ecb.int/pub/pdf/other/paymentsystem201009en.pdf.

 

Public Finance

Main list of indicative readings

1.Rosen, Harvey S.  Public Finance. Boston: McGraw Hill, 7th ed.  2005. 

 

Additional list of indicative readings

 

1.John Cullis, Philip Jones. Public finance and public choice analitical perspectives. McGraw-Hill Book Co. 1992.

 

2.Werner Z. Hirsch, Antony M. Rufolo. Public Finance and Expenditure in a Federal System. Harcourt Brace Jovanovich.1990.

 

3.Hyman,David N. Public finance : A contemporary application of theory to policy.The Dryden Press,1993.

 

4.Rosen, Harvey S.  Public Finance.Irwin/McGraw-Hill.1999.

 

International Finance

 

Main literature

1. Трифонова, С. (2011), Европейска парична и финансова интеграция, Изд. на ВУЗФ, София.
2. Трифонова С. (2006), Парична теория, парична политика, европейска парична интеграция, УИ  „Стопанство”, София.
3. Масларов, С. (2007), Валута и международни финанси, Изд. „PRINCEPS”, София.
4. Минасян, Г. (2007), Външен дълг, теория, практика, управление, второ изд., Изд. “Сиела”, София.
5. Минасян, Г. (2010), Проектиране на макроикономическите пропорции, Изд. „Горекс Прес”, София.
6. Неновски Н., К. Христов, Б. Петров (2001), От лев към евро. Кой е най-добрият път?, Изд. “Сиела”.
7. Pilbeam, K. (2006), International Finance, 3^rd ed., Palgrave Macmillan.
8. De Grauwe, P. (2009), Economics of Monetary Union, 8^th ed., Oxford UP, Oxford.
9. Krugman, P., M. Obstfeld (2006), International Economics: Theory and Policy, 7th ed., Prentice Hall.
10. ECB (2011), The monetary policy of the ECB, 3^rd ed., ECB, Frankfurt am Main, May.
11. ECB (2011), The implementation of monetary policy in the euro area: General Documentation on Eurosystem monetary policy instruments and procedures, ECB, Frankfurt am Main, January.
12. IMF (2009), Balance of Payments and International Investment Position Mannual, 6th ed., International Monetary Fund, Washington D.C.

 

Additional literature

1. Миркович, К. (2000), Meждународна икономика, Първо изд., Изд. “Тракия-М”, София.
2. Алтмикс, П. (2011), В сянката на финансовата криза, Изд. „СиВас консултинг”, София.
3. Минасян, Г. (2008), Финансово програмиране, трето изд., Изд. „Класика и стил”, София.
4. Неновски, Н. (2001), Свободните пари, Акад. изд. „Проф. д-р Марин Дринов”, София.
5. Стиглиц, Дж. (2003), Глобализацията и недоволните от нея, ИК "ИнфоДар", София.
6. Стиглиц, Дж. (2010), Свободно падане, ИК "ИнфоДар", София.
7. Krugman, P. (2009), The Return of Depression Economics and the Crisis of 2008, reprint ed., W.W. Norton & Company.
8. Krugman, P. (2012), End This Depression Now, 1^st ed., W.W. Norton & Company.
9. Eichengreen, B. (2002), Financial Crises and What to Do about Them, Oxford UP, Oxford.
10. Мishkin, F. (1999), International Experiences with Different Monetary Policy Regimes, NBER Working Papers, No. 7704.
11. Statute of the European System of Central Banks and of the European Central Bank. Protocol No. 18 to the Treaty establishing the European Community.
12. Bulgarian National Bank – Annual Reports, Discussion Papers, Economic Survey, Banks in Bulgaria, www.bnb.bg
13. Ministry of Finance of the Republic of Bulgaria, www.minfin.government.bg
14. European Central Bank – Annual Reports, Monthly Bulletins, Research Bulletin, Working Paper Series, Occasional Paper Series, Convergence Reports, Financial Stability Reviews, etc.: www.ecb.int.
15. IMF – Annual Reports, World Economic and Financial Surveys, Country Reports, Working Papers, Policy Discussion Papers, etc.: www.imf.org.

 

Bank Risk Management

 

 Main literature

 

1. Миланова, Е. (2011), Вътрешен анализ на адекватността на капитала. Финансово-счетоводни аспекти, УИ “Стопанство”, София.
2. Миланова, Е. (2011), Капиталова адекватност на банките. Финансово-счетоводни аспекти на анализ и оценка, УИ “Стопанство”, София.
3. Завадска, З., М. Иванич-Дроздовска, В. Яворски (2005), Банково дело, Унив. изд. „Стопанство”, София.
4. Благоев, П. (2003), Управление на банковия кредитен риск, Великотърновски университет „Кирил и Методий”, Велико Търново.
5. Пътев, П., А. Ангелов, Н. Канарян (2002), Риск мениджмънт в банката, Изд. „Абагар”.
6. Закон за кредитните институции, Обн., ДВ, бр. 59 от 12 юли 2006 г., в сила от деня на влизане в сила на Договора за присъединяване на Р.България към ЕС.
7. Наредба № 8 за капиталовата адекватност на кредитните институции, Обн., ДВ, бр. 106 от 27 декември 2006 г., в сила от 1 януари 2007 г.
8. Наредба № 7 за големите експозиции на банките, Обн., ДВ, бр. 7 от 23 януари 2007 г.
9. Наредба № 9 за оценка и класификация на рисковите експозиции на банките и за формиране на провизии за загуби от обезценка, Обн., ДВ, бр. 38 от 11 април 2008 г. (в сила от 11 април 2008 г.).
10. Наредба № 11 за управлението и надзора върху ликвидността на банките, Обн., ДВ, бр. 22 от 13 март 2008 г.
11. Bessis, J. (2010), Risk Management in Banking, 3^rd ed., John Wiley & Sons.
12. GARP (2008), Foundations of Banking Risk: An Overview of Banking, Banking Risks, and Risk-Based Banking Regulation, Global Association of Risk Professionals, Wiley Finance.
13. Hopkin, P. (2010), Fundamentals of Risk Management: Understanding, evaluating and implementing effective risk management, Kogan Page.
14. Crouchy, M., D. Galai, R. Mark (2006), The Essentials of Risk Management, McGraw-Hill.
15. Moosa, I.A., Operational Risk Management, Palgrave, Macmillan, London, 2007.

 

 Additional literature

 

1. Choudhry, M. (2007), Bank Asset and Liability Management: Strategy, Trading, Analysis, Wiley Finance.
2. Kolari, J. W., B. E. Gup (2003), Commercial Banking: The Management of Risk, Wiley Finance.
3. БМР (1997), Сборник документи, издадени от Базелския комитет по банков надзор, Том I, Основни надзорни методи, Банка за международни разплащания, Базел.
4. БНБ (2009), Указание за извършване на стрес-тестове в рамките на процеса на надзорен преглед (Преработена рамка), Българска народна банка, София.
5. БНБ (1997), Усъвършенствени методи на надзора, Втори том, Българска народна банка, София.
6. Данаилов, Д. (2003), Търговските банки в България: Оценяване, регулиране, банкиране и надзор чрез международни методики, Изд. „Болид”, София.
7. Младенов, М. (2003), Мрежата за финансова сигурност, Унив. изд.” Стопанство”, София.
8. Каменов, К., М. Памукчиев, Цв. Дилков (2000), Управление на риска, Стопанска академия "Д. А. Ценов", Свищов.
9. Попчев, И., Стратегии за управление на риска, С., 2004 г.
10. Стоянов, Ст. и колектив (2007), Предизвикателства и проекции в счетоводството на кредитните институции при въвеждане на капиталовите стандарти Базел ІІ - в страните от ЕС, УНСС.
11. Стефанова, П. (1999), Банки и кредитно посредничество, първо изд. Изд. “Тракия-М”, София.
12. Уилс, Дж. (1994), Управление на риска в банковата сфера, Изд. „Хефест”, София.
13. Johnson F.P., Johnson, R.D. (1989), Bank Management.
14. BCBS (1996), Amendment to the Capital Accord to Incorporate Market Risks, Bank for International Settlements, Basel, January.
15. BCBS (1996), Supervisory Framework for the Use of Backtesting in Conjuction with the Internal Models Approach to Market Risk Capital Requirements, Basle Committee on Banking Supervision, Bank for International Settlement, Basel, January.
16. BCBS (2001), Basel II - International Convergence of Capital Measurement and Capital Standards - A Revised Framework - Comprehensive Version, Bank for International Settlement, Basel.
17. BCBS (2001), International Rating Based Approach, Bank for International Settlements, Basel, January.
18. BCBS (2004), Implementation of Basel II: Practical Consideration, Bank for International Setllements, Basel, July.
19. BCBS (2009), Principles for Sound Stress Testing Practices and Supervision, Basle Committee on Banking Supervision, Bank for International Settlement, Basel, May.
20. BCBS (2010), Basel III: A global regulatory framework for more resilient banks and banking systems, December  (rev June 2011), Bank for International Settlements, Basel.
21. Uyemura, D., D. van Deventer (1992), Financial Risk Management In Banking: The Theory and Application of Asset and Liability Management, McGraw-Hill.
22. Wells, R., Bank Risk Management – A Practical Guide (www.barrettwells.co.uk).
23. Wilmott, P. (1999), Derivatives. The Theory and Practice of Financial Engineering, John Wiley & Sons Ltd., England.

 

Stock Exchanges

Основна литература

1.      Bodie, Kane, Marcus – Investments, 5th edition, © The McGraw?Hill Companies, 2001

2.      Sharpe W. F., Alexander G. J., Bailey J. V., Investments, Prentice Hall International

 

Допълнителна литература

1.    How the stock market works / John M. Dalton . - 1 . - New York : NYIF Corp., 1988 . - 292 с.

2.    Hull, John -  Fundamentals of futures and options markets / John Hull . - 4. ed. . - New Jersey : Prentice-Hall, 2002 . - 491 p.

3.    Hull, John C.-   Options, Futures, and Other Derivatives / John C. Hull . - 8th global ed. - Boston etc. : PEARSON, 2012 . - 847 p.

 

Онлайн източници

 

1. Bulgarian Stock Exchange www.bse-sofia.bg
2. Financial Supervision Commission www.fsc.bg
3. Bulgarian National Bank www.bnb.bg
4. Central Depository www.csd-bg.bg
5. CME Group www.cmegroup.com
6. New York Stock Exchange www.nyse.com
7. Deutsche Boerse www.deutsche-boerse.com
8. London Stock Exchange www.londonstockexchange.com
9. Chicago Board Options Exchange www.cboe.com
10. Euronext www.euronext.com

Social Security Finance

Задължителна литература:

1. Гочев, Г., Манов Б., Социално осигуряване, Тракия М, София, 2003
2. Кодекс за социално осигуряване, 2012

Допълнителна литература:

1. Данева, И., Инвестиционна политика на пенсионните и здравноосигурителните фондове, ВУЗФ, София, 2010 год.
2. Киров, Ст.,Частните пенсионни схеми, Фабер, Велико Търново, 2010
3. Blake, D. “Pension Finance”, John Wiley & Sons ltd.West Sussex PO19 8 SQ, England 2006
4. Davis, E. Philip, Pension Funds – Retirement Income Security and Capital Markets, Oxford University Press, 2004

 

Tax control

 

BASIC

1.             Slavkov B., Tax system and tax control in the Republic of Bulgaria, publ., Trakia M, S., 2001

2.             Ranchev G., The Balkans – free trade zone. Harmonization of the tax and customs legislation, publ. Delova sedmitsa consult, S., 2002

3.             Cenova L., Basics of the EC tax legislation, publ. Plamen Kolev - KAK, S., 2003

4.             Stoilov Al., Radanov D., Tax control, publ. Nova zvezda, S., 2001

5.             Monova A., Kolchev Al., Mitev D., Property taxes and fees. Tax law. Foreign investments, publ. Paks-99 Ltd, S.

6.             Kolchev Al., Dochev I. et al., Income taxation, publ. Paks-99 Ltd, S.

7.             Raichinova Il., Blagarska S. et al., Indirect taxes and duties, publ. Paks-99 Ltd, S.

8.             Karanikolov L.,  Tax assessment act. Essence, issuance, appeal, enforcement, publ. Inform intelekt, S., 1995

 

ADDITIONAL

1.             Harmonization of Corporate Taxes in the EC Kluwer Law & Taxation Pub., Deventer

2.             International tax dictionary, publ. Svetulka-44, S., 2000

3.             Tax laws and by-laws

 

Auditing

А. BASIC

1.Динев, М., Л.Христова, Одиторски контрол, Форком, София, 1993

2.Динев, М., Контрол в социалното управление, 1999 год

3.Динев, М., Проблеми на теорията и практиката на финансовия одит, студия,  Годишник ВУЗФ, т.1, 2005 год.

4.Динев, М., Още няколко щриха към теорията и практиката на финансовия одит, студия , Годишник ИДЕС, т.1, 2007 г.

5.Динев, М., За концептуалните основи на счетоводството и одита, студия , Годишник ИДЕС, т.2, 2008 г.

6.Э.А.Аренс и др., Аудит, Москва, 2003 г.

7.Ю.А.Данилевский и др., Аудит, Москва, 1999 г.

8. R.K.Mautz, H.A.Sharaf, “The Philosophy of Auditing”, American Accounting Association, 1961

9.Robertson, Jack C., Auditing, Eighth Edition, IRWIN, 1996

10.Становища за одит и етика, МФС, Сиела, С., 2006

11.Закон за независимия финансов одит

 

B. ADDITIONAL

1.Епстейн Бари Дж., Абас Али Мирца, Международни счетоводни стандарти 2004-2005 – коментари и приложения, “Кабри”, С., 2002 г.

2.Добрев, Д.,Същност, значение и организация на ревизионния институт С., 1923

3.Добрев, Д., Впечатления от V-я международен конгрес на експерт-счетоводителите, С., 1938

4.Петрова, Д.,Историческо развитие на одиторската професия – сп. на ИДЕС, бр.4, стр.6-11, 1997

5.Петрова, Д., Методология на проверката на собствения капитал , сп. на ИДЕС, бр.1, стр21-30, 2000 год.;

6.Петрова, Д., Одитиране на малките предприятия – проблеми и изводи – доклад пред Международна конференция “Съвременни проблеми на одиторската професия”, София, 4-6 октомври, 2001 г.

7.Петрова, Д., Анализът като инструмент на операционен и финансов одит на предприятие в криза, Научно-практическа конференция “Счетоводството в условията на пазарна икономика”, София, 2-3 декември 2002 год

8.Аудит, под редакцией проф.В.И.Подольского, М., Аудит, ЮНИТИ, 1999

9.Камышанов П.И. Практическое пособие по аудиту, М.: ИНФРА-М, 1998

10.Гутцайт, Е.М., Аудит: концепция, проблемы, ефективность, стандарты, М., ЮНИТИ, 2003