Decline of the theory of value in accounting
Journal Title: Zeszyty Teoretyczne Rachunkowości - Year 2015, Vol 2015, Issue 82
Abstract
The current crisis of confidence in reported financial information stems from the shortcomings in the valuations made for the balance sheet purposes. The aim of this article is to identify them and try to look for ways out of the crisis. Balance sheet valuation in its present form does not include all entity’s resources and measurement parameters are applied inconsistently and alternatively. Besides, it reflects only the benefits of financial nature arising from the assets and it may be subjective. The article indicates ways out of the crisis – it proposes a controversial but common direction for further development of accounting, i.e. a departure from the numerical description. The methods used in the study are: analysis in literature studies, deduction and synthesis in final conclusions formulation.
Authors and Affiliations
Alicja Mazur
Keywords
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- DOI 10.5604/16414381.1155815
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