Open AccessSector Diversification of Statements of Comprehensive Income Illustrated with the Example of Entities Listed on the Warsaw Stock Exchange
Author(s) -
Piotr Prewysz-Kwinto
Publication year - 2019
Publication title -
folia oeconomica stetinensia
Language(s) - English
Resource type - Journals
eISSN - 1898-0198
pISSN - 1730-4237
DOI - 10.2478/foli-2019-0018
Subject(s) - stock exchange , accounting , financial statement , statement (logic) , income statement , diversification (marketing strategy) , business , presentation (obstetrics) , financial statement analysis , stock (firearms) , novelty , descriptive research , comprehensive income , descriptive statistics , balance sheet , actuarial science , financial ratio , economics , marketing , finance , political science , public economics , gross income , statistics , sociology , engineering , law , social science , psychology , mathematics , audit , radiology , state income tax , medicine , tax reform , social psychology , mechanical engineering
Research background: The rules of preparing the statement of comprehensive income are included in the International Accounting Standard 1 “Presentation of Financial Statements” which gives a lot of freedom in the way information is presented in these documents. So the following question was asked whether the way of presenting information regarding results between enterprises representing the same industries manifests similarities or differences? Purpose: The main aim of this paper is to verify whether despite the high level of flexibility given by IAS 1 in presenting information, the statements of comprehensive income prepared by entities belonging to the same sectors, manifest significant similarities. Research methodology: The research covered the financial statements prepared for the financial years 2015–2017 and by almost 200 entities listed on the Warsaw Stock Exchange and representing 14 different industries. The method of descriptive statistics was used in the quantitative analysis. Results: The results obtained allowed to show many similarities in statements drawn up by entities representing the same sectors concerning among others: the forms of drawing up this document, the variant of a statement, its internal construction and presentation of other comprehensive income. Novelty: Research on sector differentiation of information in the statement of comprehensive income on a group of entities listed on the Warsaw Stock Exchange has not been conducted yet.