Non-financial declaration. Theoretical aspects

  • Yakim Kitanov VUZF University
Keywords: non-financial declaration, non-financial reporting, environmental reporting.


Upon the changes in the accountancy legislation in the European Union, new requirement of art. 48 of The Accountancy Act regarding publication of Non-Financial Declaration along with Annual Financial Statements was issued with relevance to all companies in Bulgaria having more than 500 employees. This new requirement translated into efforts on the part of these companies to come up with such declarations. The aim of the current paper is to present an investigation on the theoretical aspects of the non-financial declaration as the author believes that this would facilitate the practical sides of the matter, especially given the lack of internationally accepted standards on it at the present moment.


Asenov, E. (2006). Sustainable Development and the New Corporate Reporting. Sofia: UNWE.

Dimitrov, St. (2010). Corporate Finance. Sofia: VUZF Publishing house, Sofia

Dimitrov, St. (2012). Organization and management of a pension insurance company. Sofia: Sv. Gr. Bogoslov, Sofia

Dimitrov, St. (2013). Development of Capital Pension Funds. Sofia

Dimitrov, St. (2014). Efficiency Increase in Capital Pension Insurance: the Case in Bulgaria. In: VUZF Yearbook.

Dobreva, J. (2016). Business Development through Innovation and Co-Creation. Economy & Business, ISSN1314-7242, Volume 10, 339-346.

Dobreva, J. (2015). Socio-economic Implications for Sustainable Business. Economy & Business, ISSN1314-7242, Volume 9, 582-588.

Harizanova, M., & Koleva, D. (2011).Trends inthe management of business processes in the conditions of a financial crisis (3 –16), In: Economic Alternatives, Sofia: UNWE: Sofia.

Koleva, D. (2010). Problems and boundaries for the successful implementation of corporate social practices in Bulgaria, In: Conference proceedings of International Scientific Conference “Vanguard Scientific Instruments in Management –Ravda, Bulgaria”.

Koleva, D. (2015). Strategic management – an educational aid, Sofia: VUZF University.

Koleva, D. (2015). The Importance of Mentoring Programs in Business, 15th International Academic Conference, Rome, Italy.

Koleva, D., & Dobreva, J. (2015). Managing Sustainable Enterprises and Promoting Open Innovation in Bulgaria, The 8th International Conference for Entrepreneurship, Innovation and Regional Development, Sheffield, UK.

Lazarova, T. (2018). Innovative HR Management. Sofia: Sv. Gr.Bogoslov Publishing House.

Petkov, V. (2013). Opportunity to Use Control as aTool for Sustainable Development. Sofia: VUZF Yearbook, Vol. IX.

Petkov, V. (2014). The World Economy: New Issues of theTheoryand the Practice. Sofia: GorexPress.

Vazov, R. (2014). Risk management of the cash flow in insurance company. Sofia: UNWE.

Peycheva, M, Veysel, A., & Dineva, V. (2016). Corporate Social Responsibility – Theory. Sofia: Reporting and Audit.

Veysel, A. (2018). Audit Engagements for Expressing Assurance on Integrated Reports. Sofia.

Zhelyazkova, V. (2013). Climate Change and Environmental Risk Managmenetin the Activities of Financial Institutions. Sofia: Publishing House Sveti Grigorii Bogoslov.

Zhelyazkova, V. (2013). Current Financial Practices and Products Directed towards the Environmental Protection. In Sofia: VUZF Yearbook, Vol. IX.

Zhelyazkova, V. (2014). Comparative Analysis of Methodologies for Environmental and Social Risk Management in Lending Applied by International Financial Institutions. Journal of International Scientific Publications: Ecology and Safety Volume 8, ISSN 1314-7234 (Online), Published at:

Zhelyazkova, V. (2017). Circular Economy. Financial Aspects. Sofia: Sv. Gr. Bogoslov.

Zhelyazkova, V., & Vazov, R. (2015). Innovative insurance approaches inrespect of climate change, In Sofia: VUZF Yearbook (in print)

Abstract views: 90
PDF Downloads: 63
How to Cite
Kitanov, Y. (2018). Non-financial declaration. Theoretical aspects. VUZF Review, (3), 43-56. Retrieved from

Most read articles by the same author(s)