100+ Free Bulgarian Certified Expert Accountant Exam Practice Questions

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2026 Statistics

Key Facts: Bulgarian Certified Expert Accountant Exam Exam

4 Papers

Separate Exams Under Art. 15(1) ЗНФОИСУ

ЗНФОИСУ Art. 15(1)

65%

Passing Mark per Paper

IDES/КПНРО Exam Rules, Art. 26

40% / 60%

Stage I / Stage II Weighting (Accounting & Audit)

IDES/КПНРО Exam Rules, Art. 26

165–214.75 EUR

Exam Fee per Paper or Stage

IDES 2026 Session Announcement

The Bulgarian Certified Expert Accountant (дипломиран експерт-счетоводител) qualification requires passing four separate written papers under Art. 15(1) ЗНФОИСУ: Accounting including IFRS, Commercial Law, Tax and Social Security Law, and Independent Financial Audit including the ISAs. Each paper is scored on its own and needs 65% to pass; Accounting and Independent Financial Audit are two-stage papers combining stage I at 40% and stage II at 60%. 2026 fees are 165 EUR per stage for Accounting and Audit and 214.75 EUR for Commercial Law and for Tax and Social Security Law. This 100-question English MCQ bank is a study adaptation covering all four papers.

Sample Bulgarian Certified Expert Accountant Exam Practice Questions

Try these sample questions to test your Bulgarian Certified Expert Accountant Exam exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under IAS 16 (Property, Plant and Equipment), how should an entity initially measure an item of property, plant, and equipment acquired in exchange for a non-monetary asset when the exchange transaction lacks commercial substance?

A.At the carrying amount of the asset given up

B.At the fair value of the asset received

C.At the fair value of the asset given up

D.At the present value of estimated future cash flows from the received asset

Explanation: Under IAS 16.24, if an exchange transaction lacks commercial substance or the fair value of neither the asset received nor the asset given up is reliably measurable, the acquired asset is measured at the carrying amount (book value) of the asset given up, resulting in no recognized gain or loss on the exchange.

2A Bulgarian enterprise acquires manufacturing machinery on 1 January 2024 for 120,000 EUR with an estimated useful life of 5 years and a residual value of 20,000 EUR. The entity uses the straight-line method. On 1 January 2026, the entity revises the remaining useful life to 2 more years (total life 4 years) and residual value to 10,000 EUR. What is the depreciation expense for 2026 under IAS 8 and IAS 16?

A.35,000 EUR

B.20,000 EUR

C.25,000 EUR

D.40,000 EUR

Explanation: Annual depreciation for 2024 and 2025 was (120,000 - 20,000) / 5 = 20,000 EUR per year. On 1 January 2026, accumulated depreciation is 40,000 EUR and carrying amount is 80,000 EUR. Under IAS 8, changes in accounting estimates are accounted for prospectively. The revised depreciable amount is 80,000 - 10,000 = 70,000 EUR over the remaining 2 years, giving a 2026 depreciation expense of 70,000 / 2 = 35,000 EUR.

3Under IFRS 15 (Revenue from Contracts with Customers), when does a performance obligation satisfy over time?

A.When the customer simultaneously receives and consumes the benefits provided by the entity's performance as the entity performs

B.When the customer pays the entire transaction price upfront prior to delivery

C.When the entity retains legal title to the goods until full payment is received

D.When the goods are customized but the entity has no enforceable right to payment for performance completed to date

Explanation: Under IFRS 15.35, revenue is recognized over time if any of three criteria is met: (a) the customer simultaneously receives and consumes the benefits as the entity performs; (b) the entity's performance creates or enhances an asset controlled by the customer; or (c) the performance creates an asset with no alternative use and the entity has an enforceable right to payment for performance completed to date.

4Under IFRS 16 (Leases), how does a lessee initially measure the lease liability at the commencement date?

A.At the present value of the lease payments that are not paid at that date, discounted using the interest rate implicit in the lease (or incremental borrowing rate)

B.At the undiscounted nominal sum of all future lease payments over the lease term

C.At the fair market value of the underlying leased asset

D.At the present value of lease payments plus the estimated variable maintenance costs

Explanation: Under IFRS 16.26, at the commencement date, a lessee measures the lease liability at the present value of the lease payments that are not paid at that date, discounted using the interest rate implicit in the lease if readily determinable, or the lessee's incremental borrowing rate.

5On 1 January 2025, a company enters into a 3-year lease for warehouse space. Annual lease payments of 30,000 EUR are payable at the end of each year. The lessee's incremental borrowing rate is 6% per annum. The present value factor of an ordinary annuity for 3 years at 6% is 2.6730. What is the interest expense recognized in profit or loss for the year ended 31 December 2025?

A.4,811.40 EUR

B.1,800.00 EUR

C.5,400.00 EUR

D.2,700.00 EUR

Explanation: Initial lease liability = 30,000 EUR * 2.6730 = 80,190 EUR. For the first year (2025), interest expense recognized in profit or loss under IFRS 16 is 80,190 EUR * 6% = 4,811.40 EUR.

6Under IAS 36 (Impairment of Assets), what is the recoverable amount of an asset or cash-generating unit (CGU)?

A.The higher of its fair value less costs of disposal and its value in use

B.The lower of its fair value less costs of disposal and its value in use

C.The higher of its historical carrying amount and net realizable value

D.The discounted present value of historical operating cash flows

Explanation: Under IAS 36.18, the recoverable amount of an asset or CGU is defined strictly as the higher of its fair value less costs of disposal (net selling price) and its value in use (the present value of estimated future cash flows expected to be derived from the asset).

7An entity tests a production machine with a carrying amount of 150,000 EUR for impairment. The fair value is estimated at 130,000 EUR with selling costs of 5,000 EUR. The present value of expected future cash flows (value in use) is 135,000 EUR. What impairment loss must be recognized in profit or loss under IAS 36?

A.15,000 EUR

B.25,000 EUR

C.20,000 EUR

D.0 EUR

Explanation: Fair value less costs of disposal = 130,000 - 5,000 = 125,000 EUR. Value in use = 135,000 EUR. Recoverable amount is the higher of the two, which is 135,000 EUR. The carrying amount is 150,000 EUR. The impairment loss is Carrying Amount (150,000) - Recoverable Amount (135,000) = 15,000 EUR.

8Under IAS 38 (Intangible Assets), which of the following costs incurred during the research phase of an internal project may be capitalized as an intangible asset?

A.No research costs can be capitalized; all research expenditure must be recognized as an expense when incurred

B.Salaries of research scientists directly engaged in discovering new scientific knowledge

C.Depreciation of laboratory equipment used exclusively for basic research activities

D.Material costs incurred before technical and commercial feasibility are proven

Explanation: Under IAS 38.54, no intangible asset arising from research (or from the research phase of an internal project) shall be recognized. Expenditure on research must be recognized as an expense when it is incurred because an entity cannot demonstrate that an intangible asset exists that will generate probable future economic benefits.

9Under IAS 2 (Inventories), at what value should inventories be measured on the statement of financial position?

A.The lower of cost and net realizable value

B.The lower of historical cost and replacement cost

C.Fair value less costs to sell

D.The higher of cost and net realizable value

Explanation: Under IAS 2.9, inventories must be measured at the lower of cost and net realizable value (NRV), where NRV is the estimated selling price in the ordinary course of business less estimated costs of completion and necessary selling expenses.

10A trading entity holds 1,000 units of finished goods in inventory with a cost of 50 EUR per unit. Due to market competition, the expected selling price is 48 EUR per unit. To sell these units, the entity must incur packaging and delivery costs of 3 EUR per unit. What is the inventory carrying amount on the balance sheet under IAS 2?

A.45,000 EUR

B.50,000 EUR

C.48,000 EUR

D.47,000 EUR

Explanation: Cost = 1,000 * 50 = 50,000 EUR. Net realizable value (NRV) per unit = Estimated selling price (48 EUR) - Selling costs (3 EUR) = 45 EUR. Total NRV = 1,000 * 45 = 45,000 EUR. Under IAS 2, inventory is written down to the lower of cost (50,000 EUR) and NRV (45,000 EUR), resulting in a carrying amount of 45,000 EUR and a 5,000 EUR expense.

About the Bulgarian Certified Expert Accountant Exam Exam

The Bulgarian Certified Expert Accountant Exam (изпит за дипломиран експерт-счетоводител) is the statutory professional qualification examination administered by the Institute of Certified Public Accountants of Bulgaria (ИДЕС) under the Independent Financial Audit and Sustainability Assurance Act (Закон за независимия финансов одит и изразяването на сигурност относно устойчивостта — ЗНФОИСУ), under rules adopted by the Commission for Public Oversight of Statutory Auditors (КПНРО). Art. 15(1) sets four separate papers — Accounting including IFRS, Commercial Law, Tax and Social Security Law, and Independent Financial Audit including the ISAs — each sat and scored independently, with 65% required to pass. Accounting and Independent Financial Audit are each taken in two stages, with the final mark combining stage I at 40% and stage II at 60%. Passing all four papers confers the Certified Expert Accountant diploma and satisfies the examination requirement for registration as a registered auditor (регистриран одитор). This 100-question English-language MCQ practice bank covers financial reporting (IFRS 15, IFRS 16, IAS 12, IAS 16, IAS 36), audit standards (ISA 315, 330, 500, 700, 705), the Bulgarian Commercial Act, and taxation (ЗКПО, ЗДДС, ДОПК). Note: the official papers are sat in Bulgarian and include extensive free-answer questions and written case studies (казуси). This bank is an English-language MCQ study adaptation for revision and concept reinforcement — not an official translation, a simulation of the exam's case-study format, or a substitute for practising written case answers.

Assessment

Four separate written examinations under Art. 15(1) ЗНФОИСУ, each sat and scored independently: Accounting including IFRS, Commercial Law, Tax and Social Security Law, and Independent Financial Audit including the ISAs. Accounting and Independent Financial Audit are each sat in two stages; the other two papers are single-stage. Candidates who did not study Bulgarian accounting take an additional Bulgarian Accounting Legislation paper. A separate sustainability track exists under Art. 19a for the Registered Sustainability Auditor qualification. All papers are delivered through the IDES ИСПЕИ system.

Time Limit

4 to 5 hours per module

Passing Score

65% overall per paper (Accounting and Independent Financial Audit combine stage I at 40% and stage II at 60%, with at least 50% required at stage I)

Exam Fee

165 EUR incl. VAT per stage (Accounting, Independent Financial Audit, Bulgarian Accounting Legislation) or 214.75 EUR incl. VAT (Commercial Law, Tax and Social Security Law) (Institute of Certified Public Accountants of Bulgaria (Институт на дипломираните експерт-счетоводители — ИДЕС) under the Independent Financial Audit and Sustainability Assurance Act (Закон за независимия финансов одит и изразяването на сигурност относно устойчивостта — ЗНФОИСУ), under rules adopted by the Commission for Public Oversight of Statutory Auditors (КПНРО))

Bulgarian Certified Expert Accountant Exam Exam Content Outline

Art. 15(1)(1) ЗНФОИСУ — separate paper, two stages

Paper 1 — Accounting, including the International Financial Reporting Standards (Счетоводство, включително МСФО)

Financial accounting and reporting: presentation of financial statements (IAS 1), revenue (IFRS 15), leases (IFRS 16), property, plant and equipment (IAS 16), intangibles (IAS 38), impairment (IAS 36), inventories (IAS 2), provisions (IAS 37), income taxes and deferred tax (IAS 12), financial instruments (IFRS 9), business combinations and consolidation (IFRS 3, IFRS 10), the Bulgarian National Accounting Standards (НСС) and the Accountancy Act (ЗСч). Sat in two stages, with stage I closed items and stage II free-answer questions and case studies.

Art. 15(1)(2) ЗНФОИСУ — separate paper, single stage

Paper 2 — Commercial Law (Търговско право)

The Bulgarian Commercial Act (ТЗ): merchant status, sole traders, the commercial company forms (ООД/ЕООД, АД/ЕАД, КД, СД, КДА), capital formation and maintenance, corporate governance, management bodies and shareholder rights, commercial representation, commercial transactions and security, transformations including mergers and demergers, insolvency proceedings, and liquidation.

Art. 15(1)(3) ЗНФОИСУ — separate paper, single stage

Paper 3 — Tax and Social Security Law (Данъчно и осигурително право)

Bulgarian tax and social insurance legislation: the Corporate Income Tax Act (ЗКПО), including tax depreciation and the tax depreciation plan, thin capitalisation and non-deductible expenses; the Value Added Tax Act (ЗДДС), including taxable supplies, intra-Community supplies and acquisitions, reverse charge and input tax credit; the Personal Income Tax Act (ЗДДФЛ); the Tax and Social Insurance Procedure Code (ДОПК), including audits, appeals and joint liability; and the Social Security Code (КСО).

Art. 15(1)(4) ЗНФОИСУ — separate paper, two stages

Paper 4 — Independent Financial Audit, including the International Standards on Auditing (Независим финансов одит, включително МОС)

International Standards on Auditing: planning and risk assessment (ISA 300, 315), responses to assessed risks (ISA 330), audit evidence and sampling (ISA 500, 530), evaluation of misstatements (ISA 450), the auditor's report and modifications (ISA 700, 705, 706), key audit matters (ISA 701), going concern (ISA 570) and fraud (ISA 240); the regulation of registered auditors under ЗНФОИСУ; public oversight by the Commission for Public Oversight of Statutory Auditors (КПНРО); and the IESBA Code of Ethics. Sat in two stages. Admission requires at least one year of practical audit training under Art. 16.

How to Pass the Bulgarian Certified Expert Accountant Exam Exam

What You Need to Know

Passing score: 65% overall per paper (Accounting and Independent Financial Audit combine stage I at 40% and stage II at 60%, with at least 50% required at stage I)
Assessment: Four separate written examinations under Art. 15(1) ЗНФОИСУ, each sat and scored independently: Accounting including IFRS, Commercial Law, Tax and Social Security Law, and Independent Financial Audit including the ISAs. Accounting and Independent Financial Audit are each sat in two stages; the other two papers are single-stage. Candidates who did not study Bulgarian accounting take an additional Bulgarian Accounting Legislation paper. A separate sustainability track exists under Art. 19a for the Registered Sustainability Auditor qualification. All papers are delivered through the IDES ИСПЕИ system.
Time limit: 4 to 5 hours per module
Exam fee: 165 EUR incl. VAT per stage (Accounting, Independent Financial Audit, Bulgarian Accounting Legislation) or 214.75 EUR incl. VAT (Commercial Law, Tax and Social Security Law)

Keys to Passing

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Bulgarian Certified Expert Accountant Exam Study Tips from Top Performers

1Master key IFRS standards: practice calculations for lease liability and right-of-use asset amortization under IFRS 16, revenue recognition 5-step model under IFRS 15, and deferred tax calculations under IAS 12.

2Understand ISA audit report logic: distinguish clearly between unmodified opinions, Key Audit Matters (ISA 701), Emphasis of Matter (ISA 706), Qualified Opinions (ISA 705), Adverse Opinions, and Disclaimers of Opinion based on materiality and pervasiveness.

3Study the Bulgarian Commercial Act (TZ): know the rules on minimum registered capital (2 BGN for OOD, 50,000 BGN for AD), capital reduction, dividend distribution restrictions, and mandatory insolvency petition deadlines under Art. 626 TZ.

4Know the Bulgarian tax rules: calculate tax depreciation differences between SAP (САП) and DAP (ДАП) under ZKPO, thin capitalization interest restrictions (Art. 43 ZKPO), and VAT prorated tax credit coefficients (Art. 73 ZDDS).

Frequently Asked Questions

What is the structure of the Bulgarian Certified Expert Accountant examination?

Art. 15(1) ЗНФОИСУ sets four separate papers, each sat and scored independently: (1) Accounting including the IFRS, (2) Commercial Law, (3) Tax and Social Security Law, and (4) Independent Financial Audit including the ISAs. Accounting and Independent Financial Audit are each sat in two stages; the other two are single-stage. Candidates who did not study Bulgarian accounting sit an extra Bulgarian Accounting Legislation paper. All are delivered electronically through the IDES ИСПЕИ system and mix closed structured-answer items with free-answer questions and case studies.

What is the passing score for each IDES examination module?

65% of the maximum points for the paper. For Commercial Law, Tax and Social Security Law and Bulgarian Accounting Legislation this is simply 65% of that paper's maximum. Accounting and Independent Financial Audit are two-stage papers: the final mark weights stage I at 40% and stage II at 60%, a candidate must score at least 50% at stage I to go through to stage II, and the combined mark must reach 65% to pass. Closed items are worth 5 or 10 points by difficulty; free-answer questions and case studies are worth 100 or 125 points.

What are the fees for sitting the IDES Certified Expert Accountant exams in 2026?

For the 2026 session IDES publishes the fees in euro, following Bulgaria's adoption of the euro on 1 January 2026. Accounting costs 165 EUR incl. VAT for stage I and 165 EUR incl. VAT for stage II, and Independent Financial Audit is the same. Bulgarian Accounting Legislation is 165 EUR incl. VAT. Commercial Law and Tax and Social Security Law are 214.75 EUR incl. VAT each. The sustainability papers under Art. 19a are 214.75 EUR incl. VAT, charged once for both stages.

Who oversees the statutory auditing profession in Bulgaria?

ИДЕС is the professional body that organises the examinations and maintains the register of certified expert accountants, but it does so under rules adopted by the Commission for Public Oversight of Statutory Auditors (Комисия за публичен надзор над регистрираните одитори — КПНРО), the independent state body that exercises public oversight of registered auditors under ЗНФОИСУ.

Does this MCQ practice bank replace the official IDES examination materials?

No. The official papers are sat in Bulgarian through the IDES ИСПЕИ system and include extensive free-answer questions and written case studies (казуси) worth 100 or 125 points each. This 100-question English-language MCQ bank is an educational study adaptation for self-assessment and for mastering the technical and legal concepts the papers test. It is not an official translation and does not simulate the written case-study format.