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One of the information sources describing an enterprise, its activities and results is the system of measurement and disclosures – i.e. accounting. This system, in its structure and effects of functioning, by adopting e.g. the final outcome in the form of a financial statement, should take into account the environmental challenges within which it is supposed to carry out the assigned goals. It is natural that changing the modern form of accounting (and therefore also financial reporting) becomes the function of ...

Accounting is an applied science, with its theories/methodology practically applied in business entities, and also its well-defined practical main purpose - meeting information needs of stakeholders. The information generated in accounting system, and later disclosed to outside recipients, is diverse in scope, form and value/quality, which results e.g. from the possibility of making creative financial and accounting decisions (so-called “the right to choose” in the accounting policy) and from accountants’ beh...