Financial reporting around the world tends toward harmonization. The output of this process is increasing the number of countries that decided to transfer their accounting framework into IFRS. This paper encompasses the study on how the conversion to IFRS has affected the quality of financial statements in Poland.

Purpose:The paper identifies the direction and strength of the relationship between individual ESG elements (and ESG as a whole) and the weighted average cost of capital, the cost of equity, and debt. The research was based on US market company data from the Thomson Reuters Eikon database. Some modifications have been applied to the survey methodology compared to that previously used in the literature, making it possible to present comprehensive and more congruent results. Identifying the direction and strength of the relationship between individual elements of ESG and ESG as a whole and the cost of capital (weighted average, equity, and debt). Design/Methodology/Approach: This paper incorporates an analytical approach based on the results of the original research. Findings: ESG and its components affect the cost of capital (weighted average, equity, and debt) Practical Implication: Disclosure of CSR/ESG practices can improve a company's financial position because it implies the ability to raise capital with lower cost, which, in turn, induces a better financial result. Knowledge of the existence of such exist is essential when most companies have to look for further savings (cost reduction) due to pandemic impediments. Originality/Value: The originality and value of an article are manifested on three levels: 1. There is a paucity of comprehensive empirical research in the literature on the subject; 2. To date, there has been no simultaneous, large sample study of the impact of ESG and its elements on the weighted average cost of capital and on the costs of raising equity and debt separately; 3. To date, there have been no studies on the relationship between the variables mentioned in 2, including a time lag, and here it is assumed that the impact of ESG and its elements on the cost of capital, due to the nature of reporting, may become apparent at the earliest in the next fiscal year.

Purpose: Identifying the direction and strength of the relationship between individual elements of ESG and ESG as a whole and the cost of capital (weighted average, equity, and debt) in the healthcare industry. Design/Methodology/Approach: This paper incorporates an analytical approach based on the results of the original research. Findings: According to our conclusions based on empirical studies of the US healthcare industry, ESG and its corporate governance component translate into the weighted average cost of capital and one of its components, i.e., the cost of equity. Practical Implication: The healthcare sector is a critical element of the pandemic-determined economic reality. The possibility of obtaining cheaper capital, e.g., for its development, is therefore of considerable importance. This paper shows that the weighted average cost of capital (WACC) and the cost of equity is significantly affected by ESG and the corporate governance component. About the cost of debt, no such relationships can be established. In our view, the existence of such dependencies (allowing for reducing the cost of capital) is crucial for the managers of companies from this socially important sector. Originality/Value: The article studies on the healthcare industry rarely focus on rationalizing the cost of capital. The literature presenting similar studies (linking the presentation of ESG disclosures with the cost of money), although concerning other industries, also suggests a lack of comprehensive empirical studies on this topic. Therefore, our study reduces this research gap in this context while the research methodology itself is also innovative.

Celem niniejszego artykułu jest usystematyzowanie poglądów na temat zalet i wad systemu ochrony (Institutional Protection Scheme) funkcjonującego w sektorze banków spółdzielczych Polsce. Zalety i wady poddano analizie z różnych punkty widzenia, przed i w trakcie jego wdrażania. W artykule zaprezentowano ideę systemu ochrony oraz genezę jego powstania oraz unormowania prawne, w których został on uregulowany. Następnie przedstawiono (z punktu widzenia różnych kryteriów) przegląd zalet i wad systemu ochrony wdrażanego w Polsce. Na podstawie przeprowadzonej analizy dokonano oceny zalet i wad wdrażanego systemu ochrony, a następnie sformułowano wytyczne normatywne w tym zakresie.

The aim of this paper is to analyse matters of truth, which is inherent issue of accounting (and therefore in reporting, as its part), which is reflected in the true and fair principle (TFV). The paper demonstrates the essence of the TFV principle and the evolution of its role and place among the set of qualitative characteristics of financial statements. After examining the changes in the development of the perception of TFV the paper makes an appraisal, gives the author's comments and contribution by providing direct implications for regulators and the setters of standards. With respect to typical limitations regarding behavioural studies, the paper provides practical as well as social implications about understanding of the TFV concept and its effect on both the preparers and users of financial statement.Keywords: true and fair view concept (TFV), truth in accounting, truth in reporting, quality characteristics of financial statements.