Bulgarian Certified Expert Accountant Exam study guide
Bulgarian Certified Expert Accountant Exam · Work through your exam, one topic at a time.
The Certified Expert Accountant (Дипломиран експерт-счетоводител, or ДЕС) is Bulgaria's senior professional accounting qualification, recognised under national accountancy law and associated with the Institute of Certified Public Accountants in Bulgaria. It sits above entry-level bookkeeping credentials and signals that a holder can sign off on complex financial reporting, lead audits and advise on tax and control matters at a level expected of a statutory auditor or chief accountant. The Bulgarian Certified Expert Accountant Exam study guide has 10 sections and about 2,863 words.
01Financial Accounting and Financial Reporting
Candidates must master the accounting equation , double-entry mechanics , and the accrual basis . Key areas include revenue recognition (IFRS 15 five-step model), expense matching, depreciation methods, inventory valuation (IAS 2), and the preparation of financial statements: statement of financial position, statement of profit or loss and other comprehensive income, statement of changes in equity, and statement of cash flows (IAS 7).
328 words, about 2 min02International Financial Reporting Standards (IFRS)
A thorough understanding of IFRS as endorsed by the EU is essential. Focus on: IAS 1 : Presentation of financial statements (fair presentation, going concern, accrual basis).
336 words, about 2 min03Management Accounting and Cost Accounting
Management accounting focuses on internal decision-making . Key topics: Cost classification : direct/indirect, fixed/variable, product/period.
263 words, about 1 min04Audit, Internal Control and Assurance
Auditing ensures financial statements are free from material misstatement . Key areas: ISA standards : risk assessment, audit evidence, materiality, going concern.
236 words, about 1 min05Taxation (Corporate, Personal and Indirect)
Bulgarian tax system includes corporate income tax (CIT) , personal income tax (PIT) , value added tax (VAT) , and withholding taxes . Key points: CIT : 10% flat rate; tax base adjusted for tax-exempt income, non-deductible expenses, and tax incentives.
266 words, about 1 min06Commercial, Company and Accounting Law
Legal framework for businesses in Bulgaria includes the Commercial Act , Accountancy Act , and Tax Procedure Code . Key areas: Company forms : sole trader, general partnership, limited partnership, limited liability company (OOD), joint-stock company (AD).
299 words, about 1 min07Finance
Finance covers corporate finance and financial management . Key topics: Time value of money : present value, future value, annuities.
248 words, about 1 min08Financial Analysis and Business Valuation
Financial analysis involves ratio analysis and valuation . Key areas: Profitability ratios : gross margin, net margin, ROA, ROE.
235 words, about 1 min09Information Systems, Digitalisation and Data in Accounting
Modern accounting relies on information systems and digital tools . Key topics: ERP systems : integrated software for accounting, finance, and operations.
226 words, about 1 min10Professional Ethics, Independence and Regulatory Compliance
Ethics and independence are cornerstones of the accounting profession. Key areas: IESBA Code of Ethics : fundamental principles (integrity, objectivity, professional competence and due care, confidentiality, professional behaviour).
426 words, about 2 min