Open AccessContingent liabilities or hidden liabilities? A review of disclosures
Author(s) -
Stanisław Hońko
Publication year - 2016
Publication title -
zeszyty teoretyczne rachunkowości
Language(s) - English
Resource type - Journals
eISSN - 2391-677X
pISSN - 1641-4381
DOI - 10.5604/16414381.1207433
Subject(s) - materiality (auditing) , contingent liability , current liability , equivalence (formal languages) , accounting , actuarial science , business , economics , finance , mathematics , working capital , debt , philosophy , discrete mathematics , aesthetics
This article aims to analyze information on contingent liabilities in the financial statements of selected listed companies. It forms part of the discussion on the principle of materiality, which recommends equivalence of the numerical part and notes to the financial statements. The study shows that the achievement of this equivalence is difficult, if at all possible. Contingent liabilities are not a popular research area. It is possible that this article may contribute to filling this gap