INFLUENCE OF INSTABILITY IN THE GLOBAL ECONOMY ON FINANCE AND BUSINESS ACCOUNTING

ISBN: 978-83-64614-53-8

242 stron
format: B5
oprawa: miękka
Rok wydania: 2019

Recent years are marked by instability and growing uncertainty, in other words by growth of significance of unforeseeable and unmeasurable features. It considerably influences i.e. financial position of countries, companies and citizens. Unstable means not only volatile, but also unforeseeable, threatening and dangerous. This instability - which in my opinion shall persist for long - is a consequence of cumulated threats (imbalances) in many key areas of social and economic environment. They include threats occurring in:
- financial area,
- commodities and energy area,
- environmental area,
- food supply area,
- demographic and social area,
- others.

SPIS TREŚCI

Introduction

Chapter 1. Various dimensions of instability
Mirosław Bojańczyk
1.1. Main problems of today‘s world - attributes (causes) of instability
1.2. Cyclicality of the economic development
- is this going to be the same way as previously?
1.3. Challenges arising from the increasingly unstable world
Conclusion
Bibliography

Chapter 2. Change in determinants of enterprise activity
and resulting threats
Mirosław Bojańczyk
2.1. Changes in determinants of enterprise activity
2.2. Impact of changes in ownership structure
on the functioning of enterprises
2.3. Impact of the capital market on the increase in agency costs
2.4. The growing role of institutional investors
2.4. Influence of instability on availability and reliability of information
2.5. Problems with risk identifying and measurement
Conclusion
Bibliography

Chapter 3. Harmonization of accounting principles and financial reporting
as an attempt to reduce accounting scandals and manipulation
Małgorzata Smoleń-Bojańczyk
3.1. Changes in the structure of enterprises,
separation of ownership from management
3.2. Financial scandals after year 2000
3.3. Managers‘ responsibility
3.4. New regulations - efforts to harmonize standards
Conclusion
Bibliography

Chapter 4. Bankruptcy and restructuring as measures of the impact
of instability on the financial results of enterprises
Krystyna Mościbrodzka
4.1. Causes of bankruptcy and restructuring
4.2. Types of restructuring
4.3. Objectives of restructuring - Restructuring Goals
4.4. Changes in bankruptcy law and restructuring law
4.5. Restructuring analyzes
4.6. Insolvency and restructuring statistics in Poland
and Central and Eastern Europe based on data
from the Central Statistical Office, KUKE and COFACE
4.7. Difficulties in running a business according to research conducted
by Central Statistical Office (GUS, CSO) in 2018, concerning
companies established in 2013
4.8. Sources of financing of restructuring process
Conclusion
Bibliography

Chapter 5. Risk management in banks - lessons learnt from
the financial crisis of 2007-2009
Anna Pawlak
5.1. Introduction
5.2. Definition of Enterprise Risk Management
5.3. ERM Process
5.4. Internal Environment
5.5. Objective Setting
5.6. Event Identification
5.7. Risk Assessment
5.8. Risk Response
5.9. Control Activities
5.10. Information and Communication
5.11. Monitoring
Conclusion
Bibliography

Chapter 6. Instability of the environment as a challenge
for insurance undertakings
Małgorzata Maliszewska
6.1. Introduction
6.2. Communication of an insurance company
with the environment
6.3. Insurance as a method of undertaking risk transfer
6.4. New insurance fields as an instrument
of managing the environment instability
6.5. New channels of insurance distribution as a method of managing
the quality of the insurance company
6.6. Changes in the process of liquidation
of personal damage including complaints of subjective character
Conclusion
Bibliography

Chapter 7. Audit considerations in unstable economic environment
and financial crises
Tomasz Kociołek
7.1. Introduction
7.2. Planning considerations
7.3. Responding to the risks of material misstatement, including fraud risk
7.4. Audit completion activities and reporting
7.5. Professional scepticism
Conclussion
Bibliography

Summary