Financial reporting system as a factor in informational advantages (System sprawozdawczosci finansowej jako czynnik przewag informacyjnych )

Wieslaw Szczesny () and Rafal Cieslik ()
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Wieslaw Szczesny: Katedra Finansow i Rachunkowosci, Wydzial Zarzadzania Uniwersytetu Warszawskiego
Rafal Cieslik: Katedra Finansow i Rachunkowosci, Wydzial Zarzadzania Uniwersytetu Warszawskiego

Problemy Zarzadzania, 2011, vol. 9, issue 34, 41-55

Abstract: The authors undertake the issue of the accessibility, comparability and reliability of financial information as the factor of capital allocation within the contemporary economy. The main thesis of the article is that the condition of all rational decisions upon the global markets is a financial information, as a product of various accounting systems. The lack of standardized accounting principles and valuation methods is becoming an important factor in the informational advantages in market transactions,which leads to the emergence of a privileged group of so-called insiders in relation to external investors, so-called outsiders. The article provides examples of different classifications of market transactions in different accounting systems what wields significant influence on accounting data presented in financial statement.

Date: 2011
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