Review of Polish and International Accounting Standards in Scope of Financial Instruments

Detailed principles of accounting for financial instruments have been prescribed in Financial Instruments Regulation, but some general principles in that area have also been outlined in the Accounting Act. According to article 3, paragraph 1, point...

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Bibliographic Details
Main Author:	Bakalarski, Tomasz
Format:	Report
Language:	English en_US
Published:	World Bank, Vienna 2016
Subjects:	HOLDING SPOT PRICE EQUITY INSTRUMENT INTEREST INCOME EQUIPMENT ACCOUNTING INTANGIBLE ASSETS DEPOSITS VALUATION DEBTORS INTEREST RATE OF RETURN FIXED INTEREST RATE OPTION PUT OPTION CREDIT RATING AGENCIES REVENUES PORTFOLIO FOREIGN EXCHANGE RISK LOAN FINANCIAL STATEMENT PAR VALUE PROBABILITY OF DEFAULT MUTUAL FUNDS BANKRUPTCY DISCLOSURE REQUIREMENT PREPAYMENT CASH FLOWS INSTRUMENTS REPAYMENT SCHEDULE CONVERSION AMOUNT OF CAPITAL LIEN DERIVATIVES COMMERCIAL CODE CURRENCY INTEREST EXPENSE DOMESTIC CURRENCY SETTLEMENT DATE DEBTS RISK FACTOR FOREIGN CURRENCIES EXCHANGE RATES FINANCIAL INSTITUTIONS BROKERAGE HOUSES DEBT MARKETS INFLATION RATE SETTLEMENT PUBLIC MARKET COMPANY LAW BROKERAGE HOUSE VARIABLE RATE BORROWING COSTS EQUITIES INVENTORY INVESTMENT STRATEGY PENSION FUNDS COMMODITY PRICE FUTURE CASH FLOWS BANK DEPOSITS TRANSACTIONS CREDIT LOSSES INTERNATIONAL STANDARDS INTEREST RATE SWAP INTEREST PAYMENTS GOOD PENSION FUND ASSETS FIXED INTEREST FAIR VALUES FUTURES CONTRACT DERIVATIVE DERIVATIVE INSTRUMENT TURNOVER FUTURE MARKET PRICES TREASURY BILLS ACTIVE MARKET MONETARY ASSETS RISK EXPOSURE PRICE CHANGES DEBT SECURITIES ISSUANCE SHARES FACE VALUE GRACE PERIOD SECURITIES LEASE AGREEMENT TREASURY CREDIT RISK SHAREHOLDERS INSURANCE CURRENCIES INTANGIBLE ACCOUNTING STANDARDS INVESTMENTS IN EQUITY MUTUAL FUND TREASURY BONDS DEBT RESTRUCTURING SHORT MATURITY INVESTMENT ACTIVITY DISCOUNTS FINANCIAL ASSETS VARIABLE INTEREST RATE CURRENCY RISK INVESTMENT INCOME LENDING INSURANCE COMPANIES MATURITIES BANKING LAW LIMITED LIABILITY LIABILITIES MARKET QUOTATIONS LONG-TERM ASSETS CASH FLOW DEPOSIT BROKERAGE LIABILITY LIQUIDATION STOCK DERIVATIVE INSTRUMENTS FUTURES SALE OF SECURITIES AMOUNT OF LOANS SUPERVISORY AUTHORITY LIFE INSURANCE FOREIGN CURRENCY RISK GUARANTEES INTEREST RATE MATURITY DATE EXCHANGE STOCK MARKET LIQUIDITY TAX COLLECTION DEBTOR LONG-TERM LIABILITIES DISCLOSURE REQUIREMENTS FINANCIAL STATEMENTS BONDS DISCOUNT INVESTMENT ACTIVITIES LOAN AGREEMENT WARRANTS TAX LONG-TERM INVESTMENT RESERVE TRANSACTION COST CREDITORS INFLATION INTERNATIONAL BANK CREDITOR PENSION GROUP LOAN BUDGET INFORMATION DISCLOSURE MATURITY SHORT-TERM INSTRUMENTS FOREIGN MARKETS VALUATION CHANGES CREDIT UNIONS PRIMARY MARKET PORTFOLIOS CONTRACTS TRADING INTEREST RATES OPTIONS RETURN SEPARATE ASSET OPEN-END FUNDS ACCOUNTS RECEIVABLE LOANS RESERVES HOLD TO MATURITY FINANCE FOREIGN CURRENCY MARKET PRICE MARKET INTEREST RATE EXPENDITURE SINGLE ASSET EQUITY TRANSACTION ECONOMIC RISKS ISSUERS OF SECURITIES VALUE OF ASSETS ASSET VALUE FINANCIAL CRISIS MARKET DATA RETURNS SHORT-TERM DEBT BUDGETS FINANCIAL INSTRUMENTS MATURITY DATES PRICE RISK FINANCIAL INSTRUMENT CONTRACT REPAYMENT AMORTIZATION PROPERTY FINANCIAL ASSET FAIR VALUE AMOUNT OF CREDIT BALANCE SHEET TRANSACTION COSTS DEFAULT HEDGES MARKET FOREIGN EXCHANGE CREDIT RATING LEASE AGREEMENTS MARKET VALUE LONG-TERM INVESTMENTS MICRO- ENTERPRISES EQUITY INSTRUMENTS INTERESTS GOODS VALUATION CHANGE FIXED ASSETS SECURITY FINANCIAL MARKET DEBT INSTRUMENTS LOSS STATEMENT INVESTMENT NATIONAL BANK INVESTMENT PORTFOLIO SHARE CONTRACTUAL OBLIGATION COLLATERAL FINANCIAL INFORMATION FINANCIAL MARKETS GROUP LOANS OPEN-END FUND REVENUE PROFIT INVESTMENTS LOAN CONTRACTS RISK MANAGEMENT DEBT INSTRUMENT INTEREST RATE RISK PENSION FUND EXCHANGE RATE INSTRUMENT VALUATION DATE PROFITS BROKERAGES SECONDARY MARKET HEDGE CREDIT INSTITUTIONS GUARANTEE SWAP REAL PROPERTY
Online Access:	http://documents.worldbank.org/curated/en/2016/06/26504307/review-polish-international-accounting-standards-scope-financial-instruments http://hdl.handle.net/10986/24802

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Summary:	Detailed principles of accounting for financial instruments have been prescribed in Financial Instruments Regulation, but some general principles in that area have also been outlined in the Accounting Act. According to article 3, paragraph 1, point 23 of the accounting act, financial instrument is defined as any contract giving rise to financial assets of one entity and a financial liability or an equity instrument of another entity, on condition that the contract concluded by two or more parties clearly results in economic effects, irrespective of whether the execution of contractual rights or obligations in unconditional or conditional. Financial assets include: monetary assets (assets in the form of domestic currency, foreign currencies and foreign exchange instruments and other financial assets, in particular accrued interest on financial assets, equity instruments issued by other entities, and contractual right to receive monetary assets or to exchange financial instruments with another entity under favorable conditions. Equity instruments are defined as contracts which give right to assets of an entity which remain after satisfying or securing all its creditors, as well as an obligation of an entity to issue or deliver its own equity instruments, in particular shares, share options or warrants.

Review of Polish and International Accounting Standards in Scope of Financial Instruments

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