Motives for property, plant and equipment revaluation according to positive accounting theory

Motywy wyboru wartości godziwej do wyceny środków trwałych w świetle pozytywnej teorii rachunkowości

Author(s): Katarzyna Bareja,Magdalena Giedroyć / Language(s): Polish / Issue: 87/2016

Keywords: fair value; property; plant and equipment; positive accounting theory

The paper identifies motives for property, plant and equipment (PPE) revaluations according to the three main hypotheses proposed by Watts and Zimmerman. Attempt to lower debt-equity ratio is the main motive for PPE revaluation. The method of inductive inference was applied.

A review of internal audit theories

Audyt wewnętrzny w świetle wybranych teorii

Author(s): Lena Grzesiak,Przemysław Kabalski / Language(s): Polish / Issue: 87/2016

Keywords: internal audit; agency theory; transaction cost theory; property rights theory; isomorphism theory; system theory

The article was written based on the critical review of the literature (mainly foreign) regarding the theoretical basis of internal audit. The authors have chosen and discussed six theories, which in their opinions best explain the core of internal audit. Those are: agency theory, cost transaction theory, property rights theory, institutional isomorphism theory, and two systems theories. The authors have pointed out which research problems may be formulated based on each of the mentioned theories.

Impact of economic crisis on earnings management in European listed companies

Wpływ kryzysu gospodarczego na aktywne kształtowanie wyniku finansowego w europejskich spółkach giełdowych

Author(s): Konrad Grabiński / Language(s): Polish / Issue: 87/2016

Keywords: financial reporting; earnings management; economic crisis; global financial crisis

The aim of the paper is to investigate the impact of global economic crisis 2007–2009 on earnings management in European listed companies. In the first section concepts of economic and financial crisis are explained from the perspective of economic theory. Then the concept of earnings management is presented. Hypothesis development constitutes the third part of the paper. The main hypothesis postulates that macroeconomic conditions of crisis restrain earnings management. The next section explains the methodology of empirical study. Using adapted Dechow model, earnings management is measured in more than 36 thousand firm-level observations from 27 European countries. Then using panel regression with fixed effects the magnitude of earnings management is investigated from the perspective of crisis and non-crisis period. The last section presents results of the study, which provide evidence that during the crisis period earnings management is curbed. Additionally, the analysis shows that macroeconomic conditions associated with economic crisis like GDP drop rates and increase of unemployment affect differently the magnitude of earnings management.

Perception of the concept of creative accounting by the Polish public and by accounting professionals

Percepcja pojęcia „rachunkowość kreatywna” przez opinię publiczną i środowisko profesjonalnych księgowych w Polsce

Author(s): Artur Hołda / Language(s): Polish / Issue: 87/2016

Keywords: creative accounting; accounting regulations; accounting fraud

The paper aims to compare definitions of creative accounting developed by accounting theoreticians with its perception by the public and by accounting professionals. The author presents definitions of creative accounting emphasising both its negative and positive aspects, and provides his own understanding of the concept. This is followed by a quantitative analysis of media reports on the same carried out in order to determine how the concept of creative accounting is perceived by the Polish public, and further by the results of surveys of accounting professionals whose purpose was to learn the understanding of creative accounting among accounting practitioners

Contingent liabilities or hidden liabilities? A review of disclosures

Zobowiązania warunkowe czy ukryte? Przegląd ujawnień

Author(s): Stanisław Hońko / Language(s): Polish / Issue: 87/2016

Keywords: contingent liabilities; disclosures analysis

This article aims to analyze information on contingent liabilities in the financial statements of selected listed companies. It forms part of the discussion on the principle of materiality, which recommends equivalence of the numerical part and notes to the financial statements. The study shows that the achievement of this equivalence is difficult, if at all possible. Contingent liabilities are not a popular research area. It is possible that this article may contribute to filling this gap.

Integrated reporting – innovation in accounting paradigms

Sprawozdanie zintegrowane – innowacja paradygmatów rachunkowości

Author(s): Mirosława Kwiecień / Language(s): Polish / Issue: 87/2016

Keywords: accounting paradigms; theory of innovation; paradigm innovation

The article is an introduction to the issues and results of a new trend in interdisciplinary research, which is integrated reporting. „Violated balance”, characteristic of contemporary global economy, forces us to seek solutions oriented to symbiosis between economic, social and environmental progress, which is the basis for fundamental changes in mental models that determine the way the economic organization operates. On the basis of literature studies, as well as management (of innovation, knowledge, etc.) science studies and research on changes in legal regulations of accounting, one can venture to say that the change in accounting paradigms is an innovation which stems from legal requirements. Legislation stimulates conceptuality, including information management, standardization of accounting, etc. Innovation theory refers to technological, organizational and market changes, so a question arises whether this theory can be applied to accounting practices as well? In this way an idea emerged for investigating the question if the implementation of legal regulations such as International Financial Reporting Standards (IFRS) or the standards of the Global Reporting Initiative (GRI) is a manifestation of the innovation theory in the development of accounting systems, especially in reporting.

Disclosure of economic value of operating fixed assets in financial statements of Polish public companies

Ujawnianie informacji o wartości ekonomicznej operacyjnych aktywów trwałych w sprawozdawczości finansowej spółek publicznych

Author(s): Marcin Michalak,Przemysław Czajor / Language(s): Polish / Issue: 87/2016

Keywords: economic value; impairment write offs; operating fixed assets; IAS 36

The objective of the paper is analysis of the methods of identifying, measuring and recognizing the operating fixed assets impairment, alongside with defining and measurement of operating fixed assets economic value and its determinants as well as the quality of this information disclosed in financial statements as of 2014. The research was conducted on the basis of annual financial statements of companies listed on Warsaw Stock Exchange that are included in stock indices WIG 20 and sWIG 80. The research was focused on disclosures of determinants used by companies to estimate the economic value of operating fixed assets for the purposes of impairment test performed according to IAS 36.

Stakeholder theory and reporting information The case of performance prism

Teoria interesariuszy a informacja sprawozdawcza na przykładzie pryzmatu dokonań

Author(s): Bartłomiej Nita / Language(s): Polish / Issue: 87/2016

Keywords: stakeholder theory; corporate performance; integrated reporting; performance prism

The aim of the paper is to explain the stakeholder theory in the context of performance measurement in integrated reporting. Main research methods used in the article include logical reasoning, critical analysis of academic literature, and observation. The principal result of the discussion is included in the statement that the stakeholder theory in the field of accounting is reflected in the so-called integrated reporting. Moreover, among the large variety of performance measurement methods, such as balanced scorecard and others, the concept of performance prism can be considered as the only method that fully takes into account the wide range of stakeholders. The analysis performed leads to the conclusion that development in accounting research takes into account the objectives of an organization in the context of the so-called corporate social responsibility as well as performance reporting oriented towards the communication of the company with its environment and the various stakeholder groups

Ethics in the profession of management accountants in literature and education in Poland

Etyka w zawodzie specjalisty rachunkowości zarządczej w podręcznikach i kształceniu w Polsce

Author(s): Irena Sobańska,Ewelina Zarzycka / Language(s): Polish / Issue: 87/2016

Keywords: ethics; management accountant; academic education

The purpose of this article is to verify how the scientific community supports the management accountants in emphasizing high ethical requirements expected of the profession. The article presents issues relating to ethics in the profession of management accountants in the light of research and international standards as well as the results of and conclusions from the study of Polish academic textbooks and educational programs. The study allowed for positive verification of the hypothesis stating that ethical aspects of the management accounting profession are only scantily covered in academic education in Poland. In addition, the results provide guidance to improve educational programs in Polish universities.

Origins of management accounting according to different research approaches

Geneza rachunkowości zarządczej według różnych podejść badawczych

Author(s): Anna Szychta / Language(s): Polish / Issue: 87/2016

Keywords: management accounting; cost accounting; origins; research approaches; XIX century

The aim of the article is to specify the causes, places and periods of origin of the application of management accounting in accordance with the views of the foreign supporters of the four main approaches to research on the development of management accounting. The article highlights the various possibilities of interpretation by historians of past events and processes in the practice of management accounting depending on the types of sources included in research and conceptual basis for discussion and interpretation of the past. The author uses the review, analysis and synthesis of thoughts and opinions of the authors of selected publications from the extensive English-language literature of the subject. This article constitutes an input to the discussion about the need to extend the research in Poland in the area of accounting history, including management accounting history.

Cost object in accounting

Obiekt kosztów w rachunkowości

Author(s): Gertruda Krystyna Świderska,Paweł Warowny,Małgorzata Świderska / Language(s): Polish / Issue: 87/2016

Keywords: cost object; cost assignment/cost allocation

In Polish literature in the field of accounting there are many synonymous terms such as the object of cost calculation, cost unit, or cost driver. Their definitions are often very similar, and their use in certain circumstances unclear. This article aims to answer the question whether the term costs object meaning „something whose cost is of interest to accounting information users”, can replace previously used terms. The analysis applies to literature in Polish, in which different schools have developed their own terms, which is connected with the tradition of schools of accounting in Poland and the evolution of the concepts. The analysis aims to verify the hypothesis that for many synonymous terms used in publications in the field of accounting a universal solution can be proposed, taking into account the technological progress and changing user needs. The research methods used include a systematic review of literature in Polish from the period 1966 to 2016 and an analysis of the terms.

Statement of accounting policies as a separate component of financial statements

Sprawozdanie z polityki rachunkowości jako odrębny składnik sprawozdania finansowego

Author(s): Ewa Walińska / Language(s): Polish / Issue: 87/2016

Keywords: accounting policies; disclosure; financial statements

This article is devoted to reflection on accounting policy from the perspective of the user of the financial statements. Its objective is to present a new formula of disclosures concerning accounting policies, which, according to the author, raises the importance and significance of this element of the accounting system. The article presents the essence of accounting policy and its place in the financial statements in the light of applicable accounting law and relevant practices of the largest public companies listed on the Stock Exchange in Warsaw. The discussion leads to a proposal for the disclosure of accounting policies as a separate component of the financial statements – statement of accounting policies.

Selected problems in auditing the financial statements of credit institutions

Wybrane problemy badania sprawozdań finansowych instytucji kredytowych

Author(s): Joanna Wielgórska-Leszczyńska / Language(s): Polish / Issue: 87/2016

Keywords: credit institution; credit exposures; impairment write-off; audit of financial statements; loan security

The article presents issues deserving special attention in the area of auditing the financial statements of credit institution. Without a doubt, these are the financial instruments, including credit exposures. To properly audit these instruments it is required to verify the accuracy of the valuation. Such verification in the case of credit exposures is preceded by appropriate category qualification followed by impairment write-off determined considering the established security. Thus, the audit process is complex and requires assessment by the auditor of exogenous and endogenous factors affecting the operation of credit institutions.

Emilie Blahova at 85

Емилиe Блахова нa 85 години

Author(s): Tatyana Ilieva / Language(s): Bulgarian / Issue: 32/2016

Igor Kaliganov at 70

Игор Калиганов на 70 години

Author(s): Elena Tomova,Anisava Miltenova / Language(s): Bulgarian / Issue: 32/2016

155 Anniversary of Matija Murko

155 години от рождението на Матия Мурко

Author(s): Elena Tomova / Language(s): Bulgarian / Issue: 32/2016

In memoriam Lilyana Minkova

In memoriam Лиляна Минкова

Author(s): Rumiana Damianova / Language(s): Bulgarian / Issue: 32/2016

In memoriam Charles Gribble

In memoriam Чарлз Грибъл

Author(s): Anisava Miltenova / Language(s): Bulgarian / Issue: 32/2016

Elka Bakalova. The Cult to the Relics and Miraculous Icons. Tradition and Present

Елка Бакалова. Култът към реликвите и чудотворните икони. Традиции и съвременност

Author(s): Albena Georgieva / Language(s): Bulgarian / Issue: 32/2016

Milen Kumanov, Desislava Kostadinova, Todor Todorov. Bulgaria in the Great war 1914–1918. Brief Historical Encyclopedia

Милен Куманов, Десислава Костадинова, Тодор Тодоров. България в Първата световна война 1914–1918. Кратка историческа енциклопедия

Author(s): Emiliya Voleva / Language(s): Bulgarian / Issue: 32/2016