Wycena składników sprawozdania finansowego w realizacji koncepcji true and fair view – teoria i regulacje
True and fair view concept in measurement of financial statements elements – theory and regulatory framework

Summary/Abstract: In today's economy, the importance and role of the accounting information function is increasing, espe-cially in corporate financial reporting. The financial statements for external users are the primary carrier of information about the financial situation of the company and therefore, in accordance with fundamen-tals of accounting, they should be prepared in a way that as much as possible complies with the concept of true and fair view (TFV). The basis for creating information in financial statements is the valuation process, which should be subordinated to the realization of the aims of financial reporting. Therefore, the research question that arises here is whether the valuation methods and principles present in contempo-rary theory and regulations are able to sufficiently implement the concept of TFV in financial statements? The research methods adopted in this study include analysis of the literature, comparative analysis, syn-thesis and deduction. The study, among others, analyses the essence of the true and fair view concept and the economic substance of measures used in valuation, as well as discusses the specific valuation methods and principles in the IFRS and Polish legal regulations. The conclusion presents the author’s view on further development of measurement in financial statements in the context of TFV concept implementa-tion and on this basis outlines the author’s proposal for a general purpose financial statement.

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