Bulgaria applies the International Standards of Financial Reporting (IFRS) and the International Standards of Auditing (ISA), approved by the European Union. The standards apply to banks, insurance, social well-being and investment companies as well as unidentified companies.
The balance sheet is presented into accounts with liabilities composed of constant capital and debts, because there is a distinction between long and short-term debts.
Bulgarian companies have to publish annually a balance sheet, a profit and loss account and an appendix. The profit and loss account gives priority to the repository of the global production and leaves the choice of the costs classification either by nature or by function.
Apart from the globally applied regulations, there are many country-specific requirements in Bulgaria as to company registration, VAT legislation, taxation treaties, etc.
Novasigma’s main service area, Accounting & Bookkeeping, is one of the most important functions of successful business. It is the measurement of financial resources and account information. Quality accounting brings transparency to the business and gives management a clear overview of the financial situation in a company. Moreover, companies of all sizes need to record and report business transactions, keep track of invoices and prevent the creation of problems with tax and other local authorities.
– Monthly VAT reports
– Monthly social insurance and medical insurance payroll;
– Preparation of the labor contracts
– Real time financial accounting
– Bank assistance
– Tax planning and consultations
– Preparation of the annual financial report, the tax declaration and the statistic report
– Publication of the financial report in the corporate register of Bulgaria – annually
– Cloud service for accounting and bookkeeping documents
Accounting and Bookkeeping service package:
Value Added Tax (VAT)
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