Polityka rachunkowości i rachunkowość kreatywna a kryzys finansowy
ACCOUNTING POLICY AND CREATIVE ACCOUNTING VERSUS FINANCIAL CRISIS

Summary/Abstract: The paper deals with two issues related to creative accounting phenomenon. Firstly, it focuses on terminological analysis of two related phenomena: accounting policy and creative accounting which are very often mistakenly treated as equivalent in Poland. Secondly, the author analyses the current impact of global financial crisis on the usage of creative accounting – especially regarding financial instruments impact on financial reports. The author believes that CFO’s which are put under extreme pressure from financial markets (mainly banking sector) find creative accounting as more tempting. As a result the usage of creative accounting is more often identifiable. The author argues that in extreme situations (such as identifying the formal prerequisites of bankruptcy declaring) the usage of creative accounting may be beneficial for all stakeholders.

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