Presentation of changes in accounting policy in financial statements of companies listed in the WIG 20 index
Journal Title: Zeszyty Teoretyczne Rachunkowości - Year 2011, Vol 2011, Issue 60
Abstract
Accounting policy is a set of the most important principles used by an entity, in-cluding the principles followed in preparing financial statements. The principles may be changed for various reasons. The aim of the authors is to identify circum-stances leading to changes in accounting policy as well as to evaluate the ways of showing the results of these changes in the context of comparability of reported information. The study examined consolidated financial statements of chosen pub-lic companies for year 2009. The performed analysis demonstrates that companies only slightly modify their accounting policy if not obliged, and the changes are usually the result of applying new IAS/IASF. The observed regularities are: presenting large fragments of IAS/IFRS in financial statements and the lack of information about changes in the value of individual items of the financial statements which have been caused by changes in the accounting policy.
Authors and Affiliations
Waldemar Gos, Stanisław Hońko
Keywords
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