Ujemne kapitały własne a zasada kontynuacji działalności w sprawozdaniu finansowym polskich klubów piłkarskich
Negative equity and the going concern principle in the financial statements of Polish football clubs

Summary/Abstract: Purpose: The aim of this article is to evaluate the reasoning behind the application of the going concern principle as presented in the introductory notes to the financial statements of the analyzed entities, from the perspective of these entities reporting negative equity. Methodology/approach: An in-depth analysis of the financial statements of Polish top-tier football clubs (Ekstraklasa) was conducted, utilizing content analysis methods. The focus was placed on identifying both risk factors and justifications for using the going concern principle in the preparation of financial statements. Financial parameters such as total equity, financial results, and cash flows were also taken into consideration. Logical induction and synthesis were applied to formulate the conclusions. Findings: The analysis of financial statements of toptier football clubs indicates that, despite most entities reporting negative equity, they can continue their operations. This is due to additional resources or events not disclosed in the financial statements, such as sponsorship agreements, planned player transfers, financial support from owners, or local government subsidies. Originality/value: This article assesses the quality of information supporting the going concern assumption presented in financial statements. It highlights the need to consider additional circumstances in financial statement assessments for certain entities, which should be disclosed and substantiated.

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