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The Polish accounting system and IFRS implementation process in the view of empirical research

Author

Listed:
  • Konrad Grabinski
  • Marcin Kedzior
  • Joanna Krasodomska

    (Cracow University of Economics, Poland)

Abstract

The paper analyses the process of implementing International Financial Reporting Standards (IFRS) in Poland. It presents the development of accounting in its historical perspective focusing on such events as the partitions of Poland, wars, the period of the centrally planned economy, the period of the political and economic transformation and Poland’s membership in the European Union. The authors discuss the relationships between tax and financial accounting and identify the main users of information generated by the accounting system; also, they describe the Polish capital market as well the organizations which contribute to the development of accounting. The further part of the work presents the scope of IFRS implementation, identifying four stages of the process as well as the entities which apply international standards. The paper stresses that Polish accounting regulations are based on the simultaneous implementation of IFRS convergence and adoption. The authors point to a number of benefits derived by companies from IFRS implementation including the higher quality of financial statements and their comparability, lower costs of capital as well. Also, the authors present an extensive review of literatures and the results of major empirical research in the area of IFRS implementation in Poland.

Suggested Citation

  • Konrad Grabinski & Marcin Kedzior & Joanna Krasodomska, 2014. "The Polish accounting system and IFRS implementation process in the view of empirical research," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 13(2), pages 281-310, June.
    • Handle: RePEc:ami:journl:v:13:y:2014:i:2:p:281-310
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    Citations

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    Cited by:

    1. R.M. Ammar ZAHID & Alina ȚARAN & F.N. Can SIMGA-MUGAN, 2018. "Cultural values and financial reporting practices: contemporary tendencies in Eastern European countries," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 9, pages 89-109, December.
    2. Tudor Liviu-Alexandru, 2018. "The Impact Of Ifrs Adoption In Emerging Economies," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 6, pages 152-157, December.
    3. Omar Mohammad Al-Hawatmeh, 2020. "Earning Management and International Financial Reporting Standard (IFRS) Implementation Process: Empirical Study," Journal of Social Sciences (COES&RJ-JSS), , vol. 9(2), pages 603-616, April.
    4. Janet Cereola, Sandra & Dynowska, Joanna, 2022. "The impact of IFRS-8, segment reporting, on the disclosure practices of Polish listed companies," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 47(C).
    5. Maria Carmen HUIAN, 2015. "Impact Of The Ifrs Adoption On Financial Assets And Liabilities. Empirical Evidence From Bucharest Stock Exchange," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 16, pages 69-90, December.
    6. Beata Zyznarska-Dworczak Ivana Mamić Sačer, 2019. "Accounting Systems in Poland and Croatia - comparative study," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 22(1), pages 55-72, May.
    7. Ivana Mamic Sacer & Beata Zyznarska-Dworczak, 2020. "Assets Measurement Principles According to Croatian and Polish Accounting Standards," Croatian Economic Survey, The Institute of Economics, Zagreb, vol. 22(1), pages 41-64, June.

    More about this item

    Keywords

    IFRS; Poland; implementation process;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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