Integrated Reporting in Business Communication： On the Example of Polish Listed Companies

This work focuses on integrated reporting as an element of companies＇ communication with the external environment. It shows the place and role of integrated reporting in system of communication with various stakeholders and with investors in particular. It also proposes that integrated reporting is a concise communication tool depicting how an organization＇s strategy, governance, performance, and prospects lead to the creation of value over the short, medium, and long term. This means an integrated representation of a company＇s performance in terms of financial and other value relevant information. Thus, integrated reporting goes beyond the traditionally understood business financial reporting. The main aim of this paper is to explain the concept of integrated reporting and to identify the role and place of this reporting type in the system of corporate communication. An additional aim is to show the development of integrated reporting in Poland which is a relatively new EU member as well as emerging market. In conclusion, the considerations stated that the report integrated--as a report integrating financial and non-financial content, covering both past and future （which facilitates decision making）--can effectively satisfy the information needs of investors. In Poland, unfortunately, integrated reporting is not widely used. A company which produces integrated reports is based on different standards. This hampers the comparability of these reports and thus reduces their use by stakeholders. In consequence, the information needs of stakeholders are not satisfactorily addressed.

Creative Accounting Does not Need to Equal Falsification of Accounts

The aim of this paper is to present different aspects of creativity in accounting. Firstly, since creative accounting allows to present a company＇s financial condition in a more favourable light, the ＂advantages＂ of this creativity are identified. This is followed by the enumeration of negative aspects of creative accounting, to illustrate how creativity in accounting may help to falsify the true picture of a company＇s business. Next, the concept of creative accounting and aggressive accounting （the latter, identified rightly, with a financial and accounting fraud） is explained. Finally, methods that are commonly used to falsify accounts, as well as the premises for and the circumstances in which such criminal practices occur, are presented. The paper draws on the results of other scientific works （books and articles published in scientific journals） in which the main and most interesting views of other authors have been presented. A critical analysis method was employed, followed by a comparison of legal texts and legal acts. The scientific conclusion was conducted using the deduction, and, partially, the induction method. It has been shown that it is justified to differentiate in accounting between creativity that is allowable within the established legal limits and practice based upon the use of creativity in a manner contrary to law. Further, it has been concluded that where creativity in accounting goes beyond the limits unambiguously established by the law, it definitely carries attributes of an offence. It has been also noted that due to continuous changes in the functioning conditions of enterprises, the above mentioned limits cannot be fixed or rigid. Thus it is necessary to control and analyse the creativity of accounting and financial staff working in enterprises in order to adapt the binding regulations to the needs of current markets.