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Nowadays, ethics is an area of interest to many areas of economic life. Also in accounting, which is called the language of business, ethics occupies a prominent position. The article presents a reflection on ethics in accounting by placing a man at the center of analysis, as an emotional human being. Therefore, the background for this research is a psychologial trend called behaviorism which is developing in many scientific disciplines. The author, mainly, draws attention to the importance of human moral responsibility in shaping the economic reality. The article uses critical analysis of the literature and the method of deduction.
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Reaserch conducted by MacKinsey&Company in 2009 showed the poor use of EVA as a key perfomance indicator in many European companies. The main purpose for this arcitle is to analyse the usefulness of EVA in financial controlling. Deductive approach was applied and some theoretical models such as strategy map of R.S. Kaplan and D.P. Norton, as well as value chains of A. Rappaport and value drivers of D.Walters were used. Finally EVA decomposition as a tool of financial controlling was discussed. The analyses have shown that VBM and financial cotrolling use similar tools and measures, concern the same levels of management and are focused at similar goals. The use of EVA decomposition can be very useful in financial controlling.
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The main aim of this article is to identify the existing dependency between money as an interdisciplinary measurement unit in accountancy and selected risk measurement methods in accountancy. This article will describe the concept of money in terms of philosophy, economy and accountancy as a measurement study. Moreover accountancy identity risk areas, where monetary units measurements are crucial will be indicated. The article applies research methods such as induction and critical analysis.
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The development of the standard of an integrated report is an important step in increasing the scope and type of information needed in building socio-economic relationships with stakeholders. The integrated report is a language of “sustainable business” and means of communication of the company about the way of creating its value at different time perspectives, as well as about the way how non-financial data affect the ability to create company value and how a company expresses its responsibility. The aim of this article is to present the problem of the value gap and, in this context, the importance of development of the standard of a report, whose scope and quality of information will allow to build the appropriate socio-economic relationships with stakeholders, and as a result will contribute to reducing the value gap of an enterprise. It is an important issue, given the changing information needs of stakeholders in the perspective of the development of the concept of corporate social responsibility and sustainable development.
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This article focuses on issues of ethics and responsibility in relation to CSR reporting. Responsibility and ethics should be expressed both in operations and CSR reporting. Current market conditions limit the users’ confidence in the information disclosed by compnaies. Business entities aware of the impact of their CSR reports on the market members, in the lack of binding rules concerning their content, are highly motivated to “color” reality. The purpose of this article is to examine the theory of ethics and responsibility in relation to CSR reporting and empirical analysis of these issues in our sample, including the report of 45 CSRs. The method used are literature study and analysis of source documents. The study and reasoning are based on normative approach. In order to make CSR reports more transparent and reliable it is necessary to make the use of recommendations and guidelines for the preparation of CSR reporting more common and to encourage companies to verify them by the external independent auditors.
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The purpose of this article is to present the results of surveys on knowledge and the application of the Code of Professional Ethics in Accounting. The survey was conducted among professionals working in accounting. The research emerge two main conclusions. An accountant should be guided by the principles of professional work such as professional competence, confidentiality and professional and high quality work. Moreover, according to the respondents ethics education is very important in accounting.
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The purpose of present research was to study the relation between financial effects of innovation/tourism enterprise market value changes and theoretically related variables. The subjective scope encompassed the abnormal returns of tourism enterprises resulting from innovation announcements. The data was gathered for companies listed in Sweden, Italy and Poland between 2007 and 2013. The data was analysed through author’s regression model. Basing on the literature studies six variables determining the relation were indicated – experience, communication, environment, stage, country of listing, and CSR. Empirical study specified that three variabels were statistically significant – communication, environment, and country of listing. The paper is an attempt to fulfill the knowledge gap concerning the impact of innovation on the markat value of tourism enterprises. Its main novelty constitutes the model allowing to study the above relation.
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The aim of this study is to show the social dimension of accounting – field in the system of social sciences, in the light of the main objectives of the ethical and normative theory, including its elected representatives and the methods used.
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One of the most important tasks of accounting should be creating a reliable picture of business operations presented in the form of financial statements. Thus, the information contained in the report must be reliable, verifiable, transparent, relevant and complete. Laws define the minimum information that must be included in the report. Adding the additional data reporting in the document depends only on the company and the purpose served by the disclosure of more information on the activities carried out by the company. On the basis of data published on the websites of the companies listed with WIG Energy, there were shown the additional information and its lack in financial statements which have a significant impact on the effectiveness of the policy of sustainable development in the enterprise.
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The article presents the issue of corporate social engagement, including the costs for these activities. The aim of the article is to present the LBG model which allows to measure both the outlays and the effects of social activities. This model enables a comprehensive calculation of the value of total engagement of the company, which consists of funds, i.e. the total amount allocated for social engagement, time, i.e. the value of the time spent by employees on social activities and in-kind donations. The article is based on an analysis of the literature and reports relating to the issue of corporate social responsibility. Based on the example of Orange Poland which has been using the LBG model since 2012, the costs of social engagement have been presented, which include not only financial support, but are also supplemented by other elements, such as voluntary service.
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The largest European companies, under the directive passed and published in 2014, will be required to report some non-financial data starting from financial statements made for the financial year beginning in 2017. As a matter of fact, only the evaluation of both financial and non-financial data gives a complete picture of the company and it becomes the basis for decision-making for the stakeholders of the reporting company. Non-financial data including environmental, human rights, labour rights, anti-corruption and bribery issues vary depending on the industry. Verification of the data is much more difficult than the verification of other elements of reports prepared by companies. The objective of the article is to present the practice of external verification of non-financial data in Polish companies’ reports.
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The objective of published Directive 2014/95/UE is to increase the transparency and comparability of non-financial information diclosed by UE companies in reports. According to the regulation, large firms which are public-interest entities and which employ more than 500 employees will be required to submit this type of information. However, the new directive does not contain unified solutions for reporting, it merely shows the minimum requirements of disclosures that will be presented. Moreover, statutory auditors will not be required to verify the quality of this information in reports. They will only be obliged to check that the non-financial statement or the separate report has been provided. In concequence, will the changes of the regulation affect the consistency and transparency as well as comparability of non-financial information presented by firms? Will stakeholders be able to assess the implementation of the principles of sustainable development? The aim of this paper is to give an answer to these questions. For this purpose, the analysis of changes in Directive 2014/95/UE was used and the standards proposed by this document were compared.
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The article presents research which purpose was comparing the valuation of historical costs for all property, plant, and equipment to fixed tangible assets based on fair value. The topic was analyzed from both a theoretical and practical perspective. The authors firstly studied differences between the two models, considering the IFRS and Polish standards. They tested the hypothesis that indicates a significant effect of recognition at fair value of tangible assets on equity. The authors also analyzed the financial statements of capital groups listed on the Warsaw Stock Exchange in the period 2005-2007. Based on quantitative methods it was decided in the work that capital groups did not change the valuation model in Polish realities, but they only one-time revalued fair value at the date of the adoption of IFRS. The revaluation of fixed assets caused the increase of the equity of 11%.
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The aim of the paper is to identify what environmental financial information is disclosed in annual reports of listed companies from a chemical sector and to assess its usefulness for stakeholders interested in financial aspects of ecological activity. The research subject are consolidated annual reports of the year 2013 of 6 listed companies The area of disclosed information is relatively small and refers mainly to CO2 emission rights, provision for environmental protection and subsidies for ecological investments. A different way of disclosure of environmental financial information encumbers the comparison among the sector.
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Accounting is a universal system for the identification, registration, measurement and presentation of economic and financial information. The final product of accounting is a financial statement, which is the most important source of information about the financial position and financial performance of an entity that is useful to a wide range of users in making economic decisions. The financial statement can fulfil its role and be utility for their users if it is made in accordance with the true and fair view. This paper presents the issue and significance of true and fair view in company accounts. The author also presents a sphere of risk associated with the implementation of this concept in financial reporting.
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The article is dedicated to the unique album of drawings which originates from the family archive of the eminent historian D. A. Korsakov and is now found in the collection of the Russian State Historical Archive in Saint Petersburg. This album contains the allegorical and emblematic images related to the reign of Peter II and Anna Ioannovna, but bears neither particular date nor signature. In the article, the drawings from the album are compared with the panegyrical works of the first half of the 18th century, such as programmes of triumphal arches, illuminations and fireworks. At the same time the attention is drawn to certain principles and methods of representation, which stand in stark contrast to serious semantic content of the album and are reminiscent, as a whole, of the art system of the lubok — of popular folk prints, intended for mass audience and appearing in Russia in the 17th century. The manner of executing the drawings also appears slightly primitive. Finally, the author of the article suggests that the album was created in the second half of the 19th – early 20th century by someone belonging to D. A. Korsakov’s circle.
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The article is devoted to the history of the stone sculpture restoration in Russia in the 18th century and the role of the Academy of Arts in this matter. The author made an attempt to understand and appreciate the value of the Academy activities, to emphasize the inextricable link of academic, creative and restorative processes, to trace the history and evolution of the restoration principles in the 18th century. The author also examines the stages of formation of new aesthetic ideas in Russia, the meaning of «integrity» when restoring sculptures appearance of the Summer Garden. I. I. Vien in his «Dissertations about the impact anatomy in sculpture and painting» defined the term «restoration» for the first time in Russia. P. P. Chekalevsky claimed the independent artistic value of separate sculptural fragments, which had a significant influence on the principles of restoration in the 19th century. On the basis of the surviving archival documents and invoices for restoration activities, the author confirms that the major restoration work of the unique monuments of art was made at a high level, only with consent of the Academy of Arts and academic professors N.-F. Gillet, F. G. Gordeev, V. I. Demuth-Malinovsky and others.
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In the artistic heritage of Gavrila Sergeyevich Sergeyev (1765/1766–1816), a lesser known, but typical feature in the fine art of the 18th century found its representation. We say about the copying from original pictures, made by other artists, or borrowing fragments from them. A need in new themes was a cause for this. In 1793–1794, as a member to the Russian Emergency Mission, Sergeev visited Turkey and later made many view watercolours on Turkish themes. However, these works were not always painted himself. For example, his watercolour The Ruins of Eastern Tomb in the collection of the State Russian Museum was painted from an original picture by Luigi Mayer (1755–1803), who had lived for a long time in Constantinople and made many view watercolours there for the British diplomat R. Ensley. Therefore, a discovery of a T. Milton’s print The Internal View of Jupiter Ammon Temple in Libya made from L. Mayer’s original picture, provided an opportunity to give a correct name to the G. S. Sergeyev’s watercolour and refine his artistic biography.
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The paper considers the issues of the general theory of Modernism, analyzing the problems concerning the origin of avant-garde art and thought in eighteenth century. The author examines the rise of Modernist paradigm from Rococo and Neo-Classicism to Goya. Special attention is paid to the French revolutionary architecture (Boullee, Ledoux). Focusing on the extremist and negative aspects of the Rococo art (close, for instance, to David Hume’s philosophy), the article shows its complex role in the development of Modernist myths and notions. The author draws the conclusion that Rococo art stands somewhere between the normativeness of totalitarian aesthetics and Negativity of Modernism. The special irony of the Rococo, its skeptical attitude towards «historical ballast», abstract theories and ideologies, cleared the way for the Modernist negative strategies. The author explores the common ground between the Rococo and anti-Rococo trends in 18th-century art, the social character of the issues of uncertainty, void, nothingness. Considering the concepts of Freedom, Truth, Reality and Negativity in 18th-century art, the author introduces his own theory of Modernism/avant-garde, its main principles, symbolic forms and structures.
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