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Corporate social responsibility is a part of business doing and ethical standards of modern societies. It is a manager of an enterprise to decide whether he wants an entity to comply with the rules and how he wants a company to fulfill the standards. Managers cannot treat an entity as independent unit separate from other participants of free market economy and from society. Modern enterprises are important members of every society, which gives them privileges and creates obligations as well. The qualitative analys...

In the era of two competing valuation concepts of historical costs and current costs, a definition and designated criteria of faithful representation are essential in order to be successful in providing financial information prepared in accounting system. Based on the conceptual framework study and meta-analysis of English and Polish accounting literature authors conclude that theory of accounting hardly at all provides guidance referring to the definition of faithful representation of economic phenomena it purpor...

There is a growing consensus that focusing on short-term profit or shareholder value leads to poor business results, so businessmen should shift from short-term profit orientation to long-term success. That paradigm shift in business doing is a massive challenge for accounting theory. It requires re-thinking much of accounting methodology. Accounting theory should therefore encompass not only financial and economic data, but also should embed social aspects, among them ethical and environmental issues. In author's...