Rachunkowość kreatywna a normatywna
Creative accounting and normative accounting

Summary/Abstract: The scope of bankruptcy of stock market companies in the USA has resulted in creative accounting effects becoming an urgent problems at the beginning 21st century. However, it should be noted that in the 80s and the 90s this phenomenon was described in publications, mostly theirs authors focused on negative aspect such as frauds and less negative such as financial shenanigans. We cannot identify frauds and embezzlements with creative accounting – this is misunderstanding, because for the activities like those more appropriate definition is aggressive accounting. Creative accounting is an inseparable part of accounting practice and its common tool. As a result of the existence of many alternative ways of valuation and the complexity economic environment it is impossible to create Global and General Accepted Financial Accounting Principles which could establish uniform rules of accounting for every financial accounting system’ participant. Creative accounting slowly becomes part of modern economy due to the increasing level of complexity in the business environment and its continuous development. Accounting practice will be considerably ahead of normative regulations concerning financial accounting system, and that is why its creative side will be important and necessary.

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