Rola norm rachunkowości w kreowaniu prawdziwego i rzetelnego obrazu jednostki gospodarczej
The role of accounting standards in creating a true and fair view of a company

Summary/Abstract: The information process in accounting is determined by many variables. Each of these factors may affect the utility of information presented in financial reports. The most fundamental determinants of this pro-cess are the accounting standards, as normative recommendations for bookkeeping and financial report-ing in companies. This paper presents the role of various accounting standards in building a true and accurate image of the company, in line with the ‘substance over form’ postulate. For this purpose, solu-tions adopted in various accounting and financial reporting standards are analysed, both international and domestic. Based on the analyses and theoretical deliberations, the paper concludes that accounting stand-ards are of great significance for the quality of information presented in financial reports, as well as for the utility of such information for various company stakeholders. The most important aspect of the pro-cess is the provision of a true and fair view of a company’s performance.

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