Financial Statements of Banks as a Source of Information About Implementation of IFRS 15： The Evidence from Poland

Banks in the economies of individual countries play the role of entities of public trust and are perceived as ＂too big to fail＂. In fact, they are exposed to risks associated with business operations. In practice, there are even instances of banks going bankrupt. Therefore, the reliability of the financial statements of a bank as a source of information about its financial condition is of particular importance. The main objective of creating IAS/IFRS and their implementation within the European Union is the strive to standardize accounting rules utilized by companies and other organizations. IFRS, as any other regulations, are subject to change over years. One of the recent changes is the introduction of IFRS 15 ＂Revenue from Contracts with Customers＂. In all entities using IAS/IFRS, communication of planned changes should involve disclosure ahead of time, regarding the analysis of their impact on the financial statements. The purpose of this paper has been to analyze whether the financial statements of banks contain any records on the impact of IFRS 15. These analyses are within the mainstream of studying how complete and prospective is the information contained in the financial statements for external users. The subjects for research are the consolidated financial statements of five major banks in Poland. As a result of research, it was found that in all studied cases, work on the implementation of IFRS 15 was observed. However, looking at every bank separately, a differentiated approach to presenting information on the standard is observed, which may be a hindrance for users of banks＇ financial statements.

Polish Exports in the EU Market and Its Competitiveness in the Face of the Crisis

This article presents the problem of the competitiveness of the economy in relation to foreign trade, with particular emphasis on the current crisis. The research results are presented here, relate to the exchange between Poland and the EU countries in the field of industrial goods during the time of the association and membership in this group. They show that Polish competitiveness is improving slowly, but the structure of our exports is still unfavorable, since it is dominated by products with a low degree of processing. However, recent years have seen some improvements as evidenced by the results from the period of recession. Researches were done by using the most popular indicates like revealed comparative advantage （RCA） and intra-industry trade （IIT）. Also the influence of some other factors, apart from the association, on the competitiveness of exports was discussed and the conclusions from the research were presented.

Internationalization and the Structure of the Company＇s Marketing Strategy on International Markets Theoretical Remarks

The paper presents theoretical reflection upon international marketing strategy in the framework of internationalization and globalization of the market. It consists of four parts. The first one debates the nature and reasons for corporate internationalization. The second part shows an international marketing strategy in the concept of corporate expansion. The strategy consists of two elements： the basic dimensions of foreign market entry modes （part 3） and business presence strategies in overseas markets （part 4）. This paper proposes a theoretical framework for research conducted by Department of Marketing of the Cracow University of Economics. The research has been conducted as a part of grant received by Polish National Centre of Science.

Multidimensional Analysis of Social Convergence Within the European Union Countries

Social convergence is one of the most important objectives for European integration. It is understood as a process of cohesion and assimilation of countries in the area of social development, which is the conditions and standards of living of the citizens of the European countries （EU27）. The aim of the article was to investigate whether there is convergence or divergence in the EU27 area, taking into account multidimensional analysis of social convergence. Methodology used in the article was taxonomic and statistical tool. It allowed applying the synthetic approach to the issue. The time taken into consideration was the period of 2000-2013. The article showed that the area of the EU27 is very diversified in terms of social development. It allows indicating five groups of countries similar to each other due to the level of social development, although the differences among the groups are significant. The analysis of convergence led to the conclusion that the process of ＂catching up＂ occurred until 2007. Then this process has stopped and even divergence trends are visible due to crisis 2008/2009. The period of 2008-2011 revealed the greatest disparities of development among the EU countries.

The Way of the Social and Economic Development of China An Attempt of Historical and Synthetic Representation

The issue of social and economic development is an important part of theoretical and empirical research of the contemporary economy. China is an example of an economy which in a short period of time achieved success within this scope. Therefore it seems to be justified to draw the reader＇s attention to the factors and determinants which may be regarded as the key ones for the economy of China, both in the period of 1949-1978, namely, in the period of real socialism, and in the period after 1978, so-called ＂socialist market economy＂ to date. On the basis of an analysis of Polish and foreign reference sources and source materials, the author tried to trace both similarities and differences in China＇s economic development over those two periods, first of all paying attention to the Chinese authorities＇ pragmatism of governing in the other period, accompanied by limiting ideological influences. Maintaining the socialist system, in that period China worked out its own, specific principles, and rules of internal activities and activities in the international arena, which enabled to it the creation of a model, especially for developing countries, the system of economic planning and programming, its constant modernization during the implementation of economic tasks, with the consideration given to changing conditionings in the world economy. It was pointed out that with maintaining the laboriousness of the Chinese and their loyalty to authority, they make up China＇s economic power. The aim of the article is to pay special attention to the circumstances, phenomena, conditionings, and factors which occurred on the way to the social and economic development of China, which enabled it to achieve the economic success in a relatively short period of time. This success can be expressed by such indicators as for instance the poverty rate, the unemployment rate, gross domestic product, the value of export, and the value of foreign direct investment as well as other factors.

Sources of Income and Financial Autonomy of Local Self-government

An important feature of local self-government which differs from other public authorities should be the independence of its organs from the government system of administration. The empowerment of local communities, which takes place in all democratic states, has been achieved by giving the guarantee of autonomy to local self-government, including financial autonomy. These are fundamental assumptions of local self-government functioning. The subject of this paper is to present self-government, in the field of shaping the basic sources of public tasks. issues relating to the financial autonomy of loca of its financial supply in cash, enabling the performance

State Interventionism in Foreign Trade

The paper refers to literatures to show how the state mitigates the effects of market failures in foreign trade.The research study leads to the conclusion that state interventions are necessary in creating administrative and legal conditions for facilitating trade exchange in the context of the role of transnational corporations in the global economy,as well as in reducing the adverse impact of international turbulences on the competitiveness of national entities through the use of export supporting instruments.

Instrumental Approach in Human Capital Management: A Conceptual Framework

Human Capital Management(HCM)is a management concept that demands theoretical foundations for implementation.It must not be easily equated with human resource management activities.HCM must include initiatives directly focused on the knowledge resources that are at the organization’s disposal.However,using only internal knowledge resources is not enough to raise the level of competitiveness.Organizations must reach outside their environment.It has been adopted that,in instrumental terms,HCM is based on intentionally selected and applied organizational,technical,social,formal,and legal,as well as economic and financial instruments in a manner that enables the organization’s goals to be achieved.At the inter-organizational level,HCM was included in the organization’s business ecosystem as the organization gains new opportunities to use the knowledge and human capital of its stakeholders thanks to its network connections.It is from this perspective that the article proposes the main concepts,goals and practices,methods that HCM can serve.

FTIR analysis and monitoring of used synthetic oils operated under similar driving conditions

The processes of degradation of engine oils operated in passenger cars of a uniform fleet of 25 vehicles were analyzed for oxidation content using infrared (IR) spectroscopy. As part of the experiment, the changes in engine oils occurring during actual operation (under conditions which can be described as "harsh", i.e., short distance driving, frequent starting of the engine, and extended engine idling) have been observed. An evaluation of the Fourier transform infrared spectroscopy (FTIR) spectrum of an engine oil sample was presented. The infrared spectra of both fresh and used oils were recorded with the Thermo Nicolett IS5. The tests were conducted according to the Appendix A2 of ASTM 2412. For the used engine oil differentiation process, FTIR spectra were analyzed in the regions of 1,700–2,000 cm-1 and 3,600–3,700 cm-1. The FTIR spectrometry is demonstrated to be effective for the analysis and monitoring of processes of oxidation and shown to provide rapid and accurate information relating to the aging process of engine oils. The results may facilitate decision-making regarding the service life of engine oils. The achieved dependencies can make it possible to upgrade the sensor assembly consisting of an FTIR source.