A Historical View Towards the Normative Regulation for Evaluation of Long-Term Assets of Bulgaria

Abstract

The report makes a retrospective analysis of the Bulgarian Normative Regulation for the evaluating in accountancy, which has been applied to the long-term assets for the last fifteen years. Two periods are pointed out: initial consistent liberalization, expressed in evaluating by fair value in the national accounting standards, mainly as an aim for harmonizing of the Accounting Legislation with the International Accounting Standards (IAS); consequently in the National Accounting Standards is observed a coming back to the conception of the historical cost as a result of the harmonization with Directive IV of the European Community from 1978, at the same time IAS are applied obligatory in a number of companies, including public ones.