ABSTRACT:
An attempt has been made in this paper to draw a parallel between the development of the conceptual framework and the regulatory accounting basis in Bulgaria, and, on these grounds, to outline the similarities and differences based on some major issues examined and defined in them. The object of comparison will cover the applicable Accounting Law, the National Accounting Standards and the effective Conceptual Frameworks. The development of the Conceptual Framework is provisionally divided in the exposition into two periods, where the first period covers the years 2001- 2010, and the second one – 2010-2018. Two stages in the development of the regulatory accounting framework in Bulgaria are also opposed to these periods. The article draws attention to the existing differences between the conceptual framework and the legal framework in Bulgaria regarding the applied principles and qualitative characteristics of the information from the financial statements. Attention is drawn to the evolution in the development of the Bulgarian legislation in the period 2001-2016. The article also compares the basic concepts in the new conceptual framework and the applicable Bulgarian accounting law.
KEYWORDS: conceptual framework, accounting law, accounting principles
