IDEAS home Printed from https://ideas.repec.org/a/aad/ejbejj/v8y2013i2p6-14.html
   My bibliography  Save this article

Reserves In Traditional And Contemporary Accounting

Author

Listed:
  • Katarzyna Klimczak

    (Accounting Department, Collegium of Management and Finance, Warsaw School of Economics, katarzyna)

Abstract

The main aim of the article is to analyse concepts of reserves in traditional accounting models and the characteristics of the area of reserves in contemporary global accounting standards. Concepts of reserves in different countries are deeply rooted in the socio-economic environment of accounting. The differences in the significance, role and the scale of creation of reserves are especially evident in the Anglo-Saxon and continental accountingReserves play a very important role in the accounting system of IFRSs– they provide a specific control mechanism which enables companies to verify economic benefits embodied in their net assets.The analysis of the IFRSs rules concerning the creation of valuation reserves and provisions may lead to the conclusion that they are- above all – subject to true and fair view concept. The only purpose of reserves is to present faithfully the estimated loss in value of net assets. There are many requirements which are intended to prevent the undue use of reserves.The area of reserves is becoming more and more complex. The sources of complexity of reserves go beyond their inherent features and stem from the general orientation of contemporary accounting towards a model of anticipated losses/gains in net assets.

Suggested Citation

  • Katarzyna Klimczak, 2013. "Reserves In Traditional And Contemporary Accounting," European Journal of Business and Economics, Central Bohemia University, vol. 8(2), pages 6-141:8, July.
    • Handle: RePEc:aad:ejbejj:v:8:y:2013:i:2:p:6-14
    DOI: 10.12955/ejbe.v8i2.375
    as

    Download full text from publisher

    File URL: http://ojs.journals.cz/index.php/EJBE/article/view/375/405
    Download Restriction: no
    File URL: https://libkey.io/10.12955/ejbe.v8i2.375?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Klimczak Katarzyna, 2017. "Cross-country Differences in Reporting Practices – the Case of Provisions for Liabilities," Journal of Management and Business Administration. Central Europe, Sciendo, vol. 25(3), pages 20-33, September.

    More about this item

    Keywords

    ReservesValuation Reserves; Provisions.;

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aad:ejbejj:v:8:y:2013:i:2:p:6-14. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Petr Hájek (email available below). General contact details of provider: https://ojs.journals.cz/index.php/EJBE .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.