RESPONSIBILITY OF BANK ACCOUNTING FOR GLOBAL FINANCIAL CRISIS? (Odpowiedzialnosc rachunkowosci bankowej za globalny kryzys finansowy?)
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The authors of the article examine the issue of share responsibility of accounting policies for the current global financial crisis. They focused on the method recommended by the International Accounting Standards- of valuation of financial assets due to market value. However during the financial turmoil is not a good expression of the financial assets' real value. During the bull market it would lead to higher financial performance, and during the bear market it requires the creation of write-offs on depreciating assets and demonstrates drastic losses in financial institutions. Better solution would be to adopt the average market value of the 6 - 12 months period preceding the balance-sheet date.
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