Wpływ różnic w formułach obliczeniowych ROE na ocenę rentowności przedsiębiorstw
The impact of differences in ROE ratio calculation formulas on the assessment of enterprises' profitability

Summary/Abstract: Purpose – The purpose of this paper is to pay attention to the calculation possibility of return on equity in different ways, and its impact on financial analysis results. Design/methodology/approach – Literature analysis of the subject, companies’ financial reports analysis as well as statutory auditors reports, descriptive statistics. Findings – The conducted study indicates that in practice the ROE ratio is calculated through various methods, which should be included in the conclusions of the financial analysis. Depending on the method company rankings may contain different entities, the calculation formula may also have an impact on whether the ROE ratio from period to period increases or decreases. Individuality/value – The consequences of the lack of a generally applicable formula of ROE counting are illustrated on basis of generally known companies. The article can become an argument in the discussion about the need to standardize the list of indicators and ways in which their value is to be determined.

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