Fair Value and Valuation and Presentation of Property in Financial Statements of Polish Real Estate Developers Sector

The review of the measurement principles included in IAS/IFRS indicates that the possibility or the obligation of measurement at fair value, concerns nearly every position of financial statements. However, the application of fair value engenders a lot of controversy. The aim of this paper is to present information about the application of fair value in Polish environment. The study focuses on Polish real estate developers sector and on the evaluation of the practices within the scope of the application of fair value in measurement and presentation of real estates in financial statements prepared in conformity with IAS/IFRS, as well as on the impact of these practices on reliability and usefulness of financial information