The impact of the IASB project ‘Better communication in financial reporting’ on financial statements – selected issues

Abstract

Purpose: The purpose of the article is to indicate the possible impact of the IASB project ‘Better communication in financial reporting’ on the presentation and disclosure of infor-mation in financial statements. Methodology/approach: On the one hand, the current state is presented (the basis was the project ‘Better communication in financial reporting’); on the other hand, value judg-ments were formulated regarding the proposed changes. The empirical study, which was based on content analysis, covered entities included in the WIG30. Findings: ‘Better communication in financial reporting’, in particular, IFRS X, will pri-marily affect the choice of the classification of expenses in the operating category of the profit or loss statement, as well as disclosure of management performance measures. Originality/value: The indication of the possible impact of the project ‘Better communication in financial reporting’ on the presentation and disclosure of information in the financial statements, which is unexplored so far. Keywords: primary financial statements, presentation, notes, disclosure, taxonomy, IFRS.