scholarly journals Accounting systems in Croatia, Poland, and Slovakia – a comparative study

2020 ◽  
Vol 109 (165) ◽  
pp. 193-214
Author(s):  
Beata Zyznarska-Dworczak ◽  
Ivana Mamić Sačer ◽  
Daša Mokošová
Keyword(s):  
European Union ◽  
Comparative Analysis ◽  
Cultural Differences ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Cultural Factors ◽  
The European Union ◽  
Accounting Systems ◽  
The Face ◽  
Similarities And Differences

Purpose: This paper provides a comparative analysis of accounting systems in three Central and East-ern European countries − Croatia, Poland, and Slovakia. The main goal of the paper is to contribute to the understanding of the main differences and their main economic, historical, and cultural reasons. Methodology/approach: The research based on a comparative analysis of Croatian, Polish, and Slovak accounting regulations allows for the identification of important differences in accounting standards, despite the geopolitical proximity of the analysed countries and their Slavic roots. Findings: The paper demonstrates that the economic differences between the countries may influence the development of their accounting systems. Our empirical research also reveals that accession to the European Union had a significant impact on the development of accounting in these countries. Moreover, our research verified whether cultural differences influence accounting systems and financial reporting in the analyzed coun-tries. Originality/value: The similarities and differences in accounting systems indicated in this paper may help regulators assess real opportunities to harmonize accounting regulations in the member states of the European Union in the face of economic and cultural factors.

Rebuilding trust: sustainability and non-financial reporting and the European Union regulation

2020 ◽  
Vol 28 (5) ◽  
pp. 701-725
Author(s):  
Matteo La Torre ◽  
Svetlana Sabelfeld ◽  
Marita Blomkvist ◽  
John Dumay
Keyword(s):  
European Union ◽  
Financial Reporting ◽  
Future Research ◽  
The European Union ◽  
Special Issue ◽  
Accounting Systems ◽  
Content Type ◽  
Research And Practice ◽  
Eu Directive ◽  
The Eu

Purpose This paper introduces the special issue “Rebuilding trust: Sustainability and non-financial reporting, and the European Union regulation”. Inspired by the studies published in the special issue, this study aims to examine the concept of accountability within the context of the European Union (EU) Directive on non-financial disclosure (hereafter the EU Directive) to offer a critique and a novel perspective for future research into mandatory non-financial reporting (NFR) and to advance future practice and policy. Design/methodology/approach The authors review the papers published in this special issue and other contemporary studies on the topic of NFR and the EU Directive. Findings Accountability is a fundamental concept for building trust in the corporate reporting context and emerges as a common topic linking contemporary studies on the EU Directive. While the EU Directive acknowledges the role of accountability in the reporting practice, this study argues that regulation and practice on NFR needs to move away from an accounting-based conception of accountability to promote accountability-based accounting practices (Dillard and Vinnari, 2019). By analysing the links between trust, accountability and accounting and reporting, the authors claim the need to examine and rethink the inscription of interests into non-financial information (NFI) and its materiality. Hence, this study encourages research and practice to broaden mandatory NFR practice over the traditional boundaries of accountability, reporting and formal accounting systems. Research limitations/implications Considering the challenges posed by the COVID-19 crisis, this study calls for further research to investigate the dialogical accountability underpinning NFR in practice to avoid the trap of focusing on accounting changes regardless of accountability. The authors advocate that what is needed is more timely NFI that develops a dialogue between companies, investors, national regulators, the EU and civil society, not more untimely standalone reporting that has most likely lost its relevance and materiality by the time it is issued to users. Originality/value By highlighting accountability issues in the context of mandatory NFR and its linkages with trust, this study lays out a case for moving the focus of research and practice from accounting-based regulations towards accountability-driven accounting change.

scholarly journals Compatibility of the IFRS for Small and Medium-sized Entities and the new EU-Accounting Directive

2015 ◽  
Vol 63 (6) ◽  
pp. 1945-1951 ◽  
Author(s):  
Gerrit Kaufhold
Keyword(s):  
European Union ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Accounting Standards ◽  
The European Union ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Member States ◽  
Financial Reporting Standards ◽  
Accounting Principles

The new EU-Accounting Directive of 26 June 2013 (DIRECTIVE 2013/34/EU) has the intention to harmonize the accounting and financial reporting of enterprises in the European Union. “Think small first” is the central principle in the new EU-Accounting Directive and the new regulations have to be adopted in the laws of European member states by 20 July 2015. The International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) was published in 2009 by the International Accounting Standards Board (IASB). The IASB intended to create simplified international financial reporting standards for the special needs of smaller and medium-sized enterprise. The IASB completed in May 2015 a comprehensive review of the IFRS for SMEs and made amendments to the Standard. The revised version of the IFRS for SMEs will be issued in the last quarter of 2015. The aim of the paper is to analyze the compatibility of the IFRS for SMEs and the new EU- Accounting Directive and the problems in connection with the harmonization of the European accounting legislation especially in Germany. Based on the results of the research most of the former incompatibilities could be removed, but the remaining complexity of the IFRS for SMEs and the lack of an option for the member states to adopt the IFRS for SMEs as an accounting and reporting standard besides or instead their local accounting principles will prevent the wide use of the IFRS for SMEs in Germany and in other member states of the European Union.

scholarly journals ABOUT THE FINANCIAL REPORTING ON THE CAPITAL MARKETS IN THE EUROPEAN UNION: REQUIREMENTS OF USING THE IFRS AND THE EQUIVALENCE OF THIRD COUNTRY ACCOUNTING STANDARDS

2013 ◽  
Author(s):  
Aristita Rotila
Keyword(s):  
European Union ◽  
Financial Reporting ◽  
Capital Markets ◽  
Accounting Standards ◽  
Financial Statements ◽  
National Standards ◽  
The European Union ◽  
Consolidated Financial Statements ◽  
Community Capital ◽  
Single European Market

The need to build a single European market and to ensure the competitiveness of the community capital markets led to the involvement of European Union in the convergence process taking place on a global level in the realm of financial reporting. This paper is a study on financial reporting for the capital markets in the European Union by analyzing the accounting standards that need to be applied. Specifically, this paper highlights a number of issues concerning: the adoption of IAS / IFRS in the European Union and their compulsory aspect in preparing the consolidated financial statements for the companies listed on a regulated market; the requirement’s extension of using the IFRSs adopted in the European Union to the issuers of certain third countries involving a public offer of securities in European Union or performing transactions with securities on a community regulated market; the establish of a mechanism for the determination of equivalence of certain third country accounting standards with IFRSs in force at European level and, consequently, the possibility of using by some third country issuers, in preparing the consolidated financial statements submitted to the European markets, recognized national standards as equivalent to adopted IFRS.

scholarly journals The Changes of Polish Accounting Regulations after the 1989 Political Transformation Incorporation of Global Solutions

2021 ◽  
pp. 1-11
Author(s):  
Ewa W. BABUSKA
Keyword(s):  
European Union ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Global Solutions ◽  
International Accounting Standards ◽  
Political Transformation ◽  
Reporting Standards ◽  
The European Union ◽  
Financial Reporting Standards ◽  
Systemic Transformation

The aim of the article is to present the changes in Polish accounting regulations in the last thirty years of the ongoing systemic transformation from socialism to capitalism, which began in Poland in 1989. The changes consisted in adjusting Polish regulations to the Directives of the European Union and to the International Accounting Standards and International Financial Reporting Standards.

scholarly journals IPSAS for European Union member states as starting points for EPSAS

2019 ◽  
Vol 33 (2/3) ◽  
pp. 247-264
Author(s):  
Tobias Polzer ◽  
Christoph Reichard
Keyword(s):  
European Union ◽  
Public Sector ◽  
Financial Reporting ◽  
Accounting Standards ◽  
The European Union ◽  
National Accounts ◽  
Member States ◽  
Content Type ◽  
Public Sector Accounting ◽  
Institutional Contexts

Purpose The European Commission is pursuing an initiative to establish European Public Sector Accounting Standards (EPSAS) as a common mandatory set of rules for financial reporting of all member states of the European Union (EU). As a basis for developing EPSAS, the International Public Sector Accounting Standards (IPSAS) are being used. The purpose of this paper is to structure and analyze the discussion around EPSAS, with particular emphasis on the arguments that were brought forward by governments and other stakeholders of various EU countries regarding the suitability of IPSAS. Design/methodology/approach Drawing on several schools of thought in new institutional theory, how the prevailing institutional contexts in countries influence the debates is explored. Empirically, this research investigates the responses to a consultation on the suitability of IPSAS for EU member states and takes a closer look, via document analysis, at France and Germany as two critical cases. Findings It is found that, first, the majority of arguments from respondents are framed in a rational choice way. Second, skeptics of IPSAS tend to make arguments rather from positions closer to historical and/or sociological institutionalism. Research limitations/implications The paper illustrates that while technical matters around EPSAS seem solvable, political, historical and cultural differences go deeper, and need to be addressed by change agents. Regarding limitations of the research, first, the analysis concentrates on financial reporting and does not deal with the implications for more reliable and comparable national accounts in the context of the European System of Accounts (ESA, 2010). Second, it is focused on debates in the context of the EPSAS proposal, and there is a need for an evaluation after the changes have gone live. Originality/value The study looks at a text genre that has so far received less attention in public sector accounting research: responses to consultations. The paper contributes to the literature by showing how institutional contexts matter in settings characterized by contestation of reform contents.

scholarly journals The Impact of Accounting Harmonization on Financial Statements Quality in Serbia

2019 ◽  
Vol 52 (1) ◽  
pp. 128-137 ◽  
Author(s):  
Andjelković Milivoj Danijela ◽  
Danijela Zubac
Keyword(s):  
European Union ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
International Accounting ◽  
International Accounting Standards ◽  
The European Union ◽  
The World ◽  
The Republic ◽  
The Impact

The general process of the world market globalization and the great influence of international financial organizations,   especially the IMF and the World Bank, caused the need for standardization and harmonization of financial statements of the participants involved in international economics and trade. In this process, in the Republic of Serbia, the International Accounting Standards Board (IASB) and the IASB.S project for IAS/IFRS implementation have a crucial role. By adopting the International Financial Reporting Standards - IFRSs (including International Accounting Standards - IASs), financial statements prepared in Serbia may be comparable with financial statements in other countries. Starting from this, the main goal of the research is to indicate whether the financial statements in Serbia based on the IASB project can be comparable with financial statements in other countries, and on this basis can they satisfy the needs of external users of information (investors, creditors and others). In doing so, it points to the experience in the Republic of Serbia, the accounting practice and experiences of other countries, above all members of the European Union. The results of the research show that, in addition to the IAS/IFRS, the US generally accepted accounting principles (GAAPs) and the Directive 34 of the European Union represent the key segments of professional regulation contributing to greater accounting harmonization, and on this basis, the higher quality of financial reporting. Most countries that have national accounting regulations align the accounting rules in the most important issues with those regulations.

Institutional Convergence in European Union Member States

2020 ◽  
pp. 288-308
Author(s):  
Ayşenur Tarakcioğlu Altinay
Keyword(s):  
European Union ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
The European Union ◽  
Consolidated Financial Statements ◽  
Publicly Traded Companies ◽  
Financial Reporting Standards ◽  
Institutional Convergence

Economic globalization has affected accounting and auditing practices, as it has many other areas. Its impact on accounting has emerged in international accounting standards and independent auditing. There is pressure on the European Union countries to benefit from the New York segmentation of these standards. In parallel with these developments, IASB (International Accounting Standards Board) was established in 1973 to create a common accounting system for companies around the world, and internationally accepted accounting standards were established under the name of International Accounting Standards (IAS). To use these common accounting practices effectively, as of Jan. 1, 2005, publicly traded companies in the European Union have been obliged to apply the consolidated financial statements to the public in accordance with the International Financial Reporting Standards (IFRS) adopted by the European Union.

Polen: Flüchtlingsnotstand – aber wo sind die Flüchtlinge?

2005 ◽  
Vol 35 (140) ◽  
pp. 379-392
Author(s):  
Helmut Dietrich
Keyword(s):  
European Union ◽  
Western Europe ◽  
The European Union ◽  
Local Conditions ◽  
Asylum Policy ◽  
The Face ◽  
Emergency Measures

Poland accepted the alien and asylum policy of the European Union. But what does it mean, in the face of the fact that most of the refugees don´t want to sojourn a lot of time in Poland, but want to join their families or friends in Western Europe? How the transfer of policies does work, if the local conditions are quite different than in Germany or France? The answer seems to be the dramatization of the refugee situation in Poland, especially the adoption of emergency measures towards refugees of Chechnya.

STUDY OF MOVEMENTS MOBILITY-IMPAIRED POPULATION GROUPS IN PEDESTRIAN ZONES OF THE STREET-ROAD NETWORK (in the example of city of Kiev)

2017 ◽  
Author(s):  
Oleksandra Cherednichenko ◽  
Keyword(s):  
European Union ◽  
Comparative Analysis ◽  
Road Network ◽  
Actual State ◽  
The European Union ◽  
Regulatory Requirements ◽  
Population Groups ◽  
The Road ◽  
Mobility Impaired

The results of the study of the main elements of unobstructed space are presented and the compliance of the actual state with the regulatory requirements of measures to ensure a safe, comfortable, accessible and informative pedestrian zone of the road network is analyzed. A comparative analysis of the main regulatory requirements for access ramps on the legislation of Ukraine and the European Union is carried out.

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