Analiza porównawcza kluczowych rozwiązań w zakresie konsolidacji sprawozdań finansowych zgodnie z MSSF oraz ustawą o rachunkowości
Comparative Analysis of Key IFRS and Polish GAAP Regulations

Summary/Abstract: Aim: Financial reporting, and especially regulations on consolidated accounts, is a convention – an attempt to faithfully and reliably reflect the effects of economic transactions. Therefore, they are subject to evolution along with a better understanding of the economic essence of the events they capture. The main objective of the article is a comparative analysis of two sources of consolidated financial reporting regulations, i.e. IAS/IFRS and the Polish GAAP. The supporting objectives are to present the evolution of the principles for preparation consolidated financial statements in accordance with IAS/IFRS and the Polish Accounting Act, to indicate the reasons for introducing changes and to critically assess the present regulation in the context of economic substance of relevant transactions. Methodology: The applied research methods included literature studies, analysis of legal acts and consolidated financial statements. Results: The article consists of three parts. The first part introduces the issue and presents a historical outline of the development of consolidated accounts regulations. The second part is an analysis of the most important areas of difference. These include: control over a subsidiary, excercising significant influence and joint control over an investee, accounting for business combinations using the acquisition method, valuation of goodwill, recognition of shareholding attributable to minority owners and other selected specific issues in the analysed area. The scope of the study includes both conceptual issues as well as those related to the valuation and presentation of items typical of consolidated financial statements. Implications and recommendations: The last part is a summary of the analyzed differences between the two sources of regulation and an attempt to indicate which of the two is closer to true and fair view and reliable reflection of the effects of transactions in the financial statements. Originality/value: In the opinion of the author, the IAS/IFRS ruling on the consolidation of financial statements should be assessed higher than the Polish GAAP, with the exception of amortisation of goodwill.

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