Purpose: The objective of this article is to evaluate the quality of the presented content concerning the impact of the COVID-19 pandemic on continuing activities of selected companies listed in Warsaw Stock Exchange. Design/Methodology/Approach: In the first part we applied critical review of subject literature and the monographic method. In the second part, the content analysis method was used, and the basic source material were the financial statements-annual for 2019 and interim for 2020. Findings: Research demonstrates that disclosures of events following the balance sheet date did not allow users of financial statements to assess the risk associated with the impact of COVID-19. Some companies completely ignored the risk related to the pandemic in their financial statements, and in some cases the scope of disclosures is symbolic. Practical Implications: Indicating the gap between the expected and actual scope of disclosures regarding the consequences of the pandemic in financial statements, which are the primary source of information about a listed company that are further authenticated by an auditor. Originality/value: Demonstration of the insufficient level of disclosures regarding the impact of the pandemic on the financial condition and performance of the entities audited, including a lack of numerical analyses of its impact on the entity's ability to continue operations, and the valuation of its assets and liabilities.
The balance sheet is seen as an important element of the financial statement with the largest scope of information, enabling the assessment of the property and financial standing of each company. The results of the financial analysis based on the information of the balance sheet are used by both external stake- holders and the management. However, there are no considerations regarding the structure and substan- tive scope of individual balance sheet items. The authors notice this problem and try to solve it. The research problem of this paper relates to how assets, equity, and liabilities are presented in the balance sheet, as well as their cognitive value. The aim of the paper is to present the cognitive and analytical values of the author's concept of presenting assets, equity, and liabilities in the balance sheet. In the theo- retical part, a literature review was carried out, while in the empirical part, the case study method and financial analysis methods were used. The originality of the research is demonstrated by the original bal-ance sheet proposal and a presentation of its cognitive and analytical values. The conclusions drawn from the considerations and empirical studies demonstrate that the proposed balance sheet has significant cog-nitive and analytical value.
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