Accounting as a Source of Financial Information on Insolvency in Liquidation Proceedings

• Authors: Kinga Bauer , Jan Hospodka

Abstracts

EN

Purpose: The purpose of this paper was to indicate which information originating in accounting is important for ensuring the information transparency of bankruptcy proceedings. Methodology: Based on the literature review and the analysis of international legal acts, we determined priority types of information from accounting used in bankruptcy court proceedings. These types included information on the costs of insolvency proceedings, the assumption in the financial statements that there was no going concern, and the book value of assets. A survey was then conducted on a group of specialists in the field of bankruptcy. Findings: Respondents indicated information on the costs of bankruptcy proceedings as the most important. However, other accounting information under study also received a high assessment from insolvency specialists. The obtained assessments of individual quality features are characterized by high reliability confirmed by low standard errors. Research implications: Accounting evolves as a response to the information needs of accounting information users. Therefore, knowing these needs may contribute to changes in the requirements regarding the scope of information from accounting that is used in bankruptcy proceedings. Originality/value: In-depth knowledge of various aspects of the economic side of the bankruptcy phenomenon is part of the current trend in minimizing the negative effects of bankruptcy.

Keywords

EN

accounting information; bankruptcy; insolvency by liquidation; going concern assumption; costs of bankruptcy

• Publisher: Akademia Leona Koźmińskiego
• Journal: Central European Management Journal
• Year: 2020
• Volume: 28(4)
• Pages: 2-29

Dates

published

2020

Contributors

author

Kinga Bauer

author

Jan Hospodka

Identifiers

DOI

10.7206/cemj.2658-0845.32

Biblioteka Nauki

1933654