An Attempt to Identify Major Factors Which Determine a Quality of Financial Statements

Kozłowska, Agnieszka

doi:10.15611/pn.2018.503.22

Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu

2018

DOI: 10.15611/pn.2018.503.22

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An Attempt to Identify Major Factors Which Determine a Quality of Financial Statements

Agnieszka Kozłowska¹

Abstract: Streszczenie: Sprawozdawczość finansowa zmienia się wraz z oczekiwaniami użytkowników informacji generowanych przez system rachunkowości. Oczekiwania te zależą od wielu czynników. Celem artykułu jest próba zdefiniowania najistotniejszych spośród nich, przekładających się na jakość sprawozdawczości finansowej. Problem atrybutów jakościowych sprawozdań finansowych jest bowiem poruszany coraz częściej w kontekście procesów postępującej harmonizacji i standaryzacji rachunkowości. Analiza cech jakościowych sprawozd… Show more

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Cited by 3 publications

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Transparency of information contained in the state budget from the view of utility for the citizen

Jastrzębska

2020

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Purpose – The purpose of the article is to assess the transparency of information contained in the state budget from the point of view of usefulness for the citizen and to recommend actions to increase the transparency of information in this regard. Methods – Descriptive analysis and deductive and inductive reasoning were used. Research description – The essence of fiscal transparency in the context of social responsibility of the government was discussed. The scope of information included in: the multi-year financial state finance, the budget act, the report on the implementation of the state budget, the analysis of the implementation of the state budget was analyzed. The assessment of information in the above-mentioned scope was carried out from the point of view of usefulness for the citizen and the flow of information between the government and citizens about public funds collected and allocated by the state budget. Finally, recommendations were made for actions to be taken to increase the transparency of information contained in the state budget. Results – The transparency of the information contained in the state budget (at the stage of its planning, adoption, implementation, reporting and controlling budget implementation) is very limited from the point of view of its usefulness for the citizen. It is necessary to take specific actions to increase the transparency of information contained in the state budget from the point of view of its usefulness for the citizen. Originality / value – the literature on the subject lacks publications devoted to the issue of transparency of the state budget in our country. The article addresses this research problem by assessing the content of information published by the government in the state budget as the basic public fund from the point of view of the usefulness of this information for the citizen.

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Transparency of information contained in the state budget from the view of utility for the citizen

Jastrzębska

2020

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The Quality of Goodwill Disclosures and Impairment in the Financial Statements of Energy, Mining, and Fuel Sector Groups during the Pandemic Period—Evidence from Poland

et al. 2022

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The COVID-19 pandemic has strongly affected the economic situation of many countries, which is worth considering not only globally but also in the context of specific industries. An asset that is particularly sensitive to negative economic changes is goodwill. The aim of this study is to assess the impact of the pandemic on the quality of financial disclosures concerning goodwill in consolidated financial statements of groups of chosen strategic sectors in Poland. We investigated the implications of the pandemic on the frequency and scale of goodwill impairment in relation to 23 companies listed on the Warsaw Stock Exchange from the Energy, Mining, and Fuel Index. We identified the research gap in this area. For the purposes of this study, two research hypotheses were formulated: (H1) during the COVID-19 pandemic, there has been a slight improvement in the quality of goodwill disclosures in the consolidated financial statements of groups in the energy, fuel, and mining sectors; (H2) The COVID-19 pandemic caused a decrease in goodwill due to impairment losses in the consolidated financial statements of groups in the energy, fuel, and mining sectors. The hypotheses were verified on the basis of the above research sample. In order to verify the first hypothesis, we tested 81 consolidated financial statements for the years 2018–2021 based on a self-developed index of the quality of disclosed information. To verify the second hypothesis, we analyzed the frequency and scale of the estimated loss of goodwill during the COVID-19 pandemic and its impact on the deterioration of the financial condition of the same research sample. The conducted research shows that the quality of disclosures regarding the goodwill in the examined sample has changed slightly. Contrary to our expectations, the pandemic did not materially reduce the value of goodwill. This means that the first hypothesis was verified positively, while the second hypothesis had to be rejected.

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The reporting effects of different approaches to the depreciation of fixed assets in the accounting policies of public universities in Poland

Pisarska

2021

ZTR

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Purpose: The aim of the article is to identify the reporting effects of the choice of method for the depreciation of fixed assets, defined in the accounting policy of a public university. Methodology: Empirical (qualitative) research was conducted in a deliberately selected group of public classical universities operating in Poland. The empirical material was col- lected by analyzing documents and from partially structured interviews conducted with the bursars (or their deputies) of these universities, who are considered to have the broadest knowledge about phenomena directly related to the surveyed entities’ finance and account- ing policies. Findings: Based on the results of the research, the depreciation approaches applied in public universities in Poland have been identified. Legal regulations relating to the man- agement of these fixed assets, which are important for implementing university tasks (i.e., necessary for research and education at the highest possible level), have also been estab- lished. The heterogeneity of the approaches leads to the lack of comparability of financial statements in this uniform group of public universities. Consequently, the identified nonuniform solutions affect the level of costs determined by universities while implementing tasks. Practical implications: The findings are important for university accountants (bursars) since they present them with solutions that can be applied in practice while pointing to the consequences of these different approaches. Originality/value: The principal cognitive value of the findings is the provision of empiri- cal arguments revealing the diversity of depreciation methods among units from the same sector of the economy – classical universities in Poland. At the same time, one of the sources of the problem of limited comparability of their financial results was indicated.

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An Attempt to Identify Major Factors Which Determine a Quality of Financial Statements

Cited by 3 publications

References 6 publications

Transparency of information contained in the state budget from the view of utility for the citizen

Transparency of information contained in the state budget from the view of utility for the citizen

The Quality of Goodwill Disclosures and Impairment in the Financial Statements of Energy, Mining, and Fuel Sector Groups during the Pandemic Period—Evidence from Poland

The reporting effects of different approaches to the depreciation of fixed assets in the accounting policies of public universities in Poland

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