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Assets Measurement Principles According to Croatian and Polish Accounting Standards

Author

Listed:
  • Ivana Mamic Sacer

    (Faculty of Economics and Business, University of Zagreb, Croatia)

  • Beata Zyznarska-Dworczak

    (Poznan University of Economics and Business, Department of Accounting and Financial Audit, Poznan, Poland)

Abstract

There are many kinds of international operations, and entities from different countries can operate in different regulatory frameworks. This is why comparative international accounting has become more and more important. There are great efforts made by the EU, the IASB, the FASB, and other institutions in order to achieve comparable financial statements. Still, there are many accounting differences among the countries. The EU member states are restricted by the European Regulation on the application of the IFRS but the regulation of accounting principles for micro, small, and medium sized entities represents the national regulators’ choice. The main goal of the paper is to provide a description of the existing accounting framework and the standard setting process in two European countries: Croatia and Poland. Research methodology is based on a critical analysis of scholarly literature and the comparison of Polish and Croatian Accounting Acts, Polish Accounting Standards and Croatian Financial Reporting Standards, in terms of main accounting principles for assets. The authors test the thesis that the national accounting standard setting process affects the form and content of accounting principles and standards. Therefore, the research focus is related to several accounting areas and the paper investigates accounting principles for different kinds of assets.

Suggested Citation

  • Ivana Mamic Sacer & Beata Zyznarska-Dworczak, 2020. "Assets Measurement Principles According to Croatian and Polish Accounting Standards," Croatian Economic Survey, The Institute of Economics, Zagreb, vol. 22(1), pages 41-64, June.
    • Handle: RePEc:iez:survey:ces-v22_1-2020_mamic-sacer-zyznarska-dworczak
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    References listed on IDEAS

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    1. Zeghal, Daniel & Mhedhbi, Karim, 2006. "An analysis of the factors affecting the adoption of international accounting standards by developing countries," The International Journal of Accounting, Elsevier, vol. 41(4), pages 373-386, 012.
    2. Zehri, Fatma & Chouaibi, Jamel, 2013. "Adoption determinants of the International Accounting Standards IAS/IFRS by the developing countries," Journal of Economics, Finance and Administrative Science, Universidad ESAN, vol. 18(35), pages 57-62.
    3. Konrad Grabinski & Marcin Kedzior & Joanna Krasodomska, 2014. "The Polish accounting system and IFRS implementation process in the view of empirical research," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 13(2), pages 281-310, June.
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    Cited by:

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    2. Nora Štangová & Agneša Víghová, 2021. "Company liquidity as a reflection of receivables and payables management," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 9(2), pages 238-254, December.

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    More about this item

    Keywords

    accounting principles; accounting standards; financial reporting standards; Croatia; Poland;
    All these keywords.

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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