Financial
Reports
Balkancar ZARYA maintains its accounting records and
prepares its statutory accounts in accordance with the regulations
effective in Bulgaria. According to the amendments of the Bulgarian
Accountancy Act (State Gazette 98/16.11.2001), all local companies
are obliged to prepare their financial statements in compliance
with the International Financial Reporting Standards (IFRS) latest
2005. The management of the Company has not taken decision for
earlier adoption of the International Financial Reporting Standards
(IFRS).
