Granice dążenia do dokładności informacyjnej sprawozdania finansowego na przykładzie odwracania dyskonta
Limits to information accuracy of financial statements – the example of reversal of discounting

Summary/Abstract: This article first raises the cardinal question of the limits to seeking accuracy of information provided in financial statements. An example illustrating this problem is the discounting technique and reversal of the discounting. Against this background the author raises a more general issue relevant to accounting, by posing the following thought-provoking questions: (1) Where is the limit to regarding the decision relevance and usefulness of accounting valuation as factors determining the choice of the methods of this valuation? Is it possible to identify this limit? (2) Does the principle of accounting for business transactions and events in accordance with their economic substance also apply to their effects in the form of a conceptual dimension resulting from the reversal of discounting (taken as an example)? (3) Is it sensible to use complex valuation procedures whose economic sense requires very precise definitions and yet their decision relevance is not directly identifiable? (4) Should solutions proposed as more accurate (regardless of their costs), but not included in International Financial Reporting Standards, be regarded as not complying with these standards? (5) Are they in contradiction with the principle of true and fair presentation?

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