Mariusz Andrzejewski

Objective: The article aims to demonstrate the potential for reducing the carbon footprint of products through the use of guarantees of origin (GOs) for electricity from renewable energy sources, based on a case study of an energy-intensive company. Research Design & Methods: We employed regulatory source analysis and a case study methodology to evaluate the use of GOs within a company. Findings: The research results demonstrate that GOs can serve to reduce a product’s carbon footprint only for purchased electricity. The study also indicates that we cannot recognise such instruments in the cost of generating electricity produced using conventional fuels. Implications & Recommendations: The study highlights the regulatory and accounting consequences of the use of GOs. Our findings imply the use of a separate allocation method to ensure compliance with ISO 14067 and European Union sustainability reporting standards. Contribution & Value Added: The study contributes to the literature on carbon footprint reduction by combining aspects of renewable energy certification, legal compliance, and corporate sustainability strategy in the Polish context.

Objective: The aim of this paper is to explore accountants’ views on the usage of Robotic Process Automation technology (RPA) which brings efficiency increase. Research Design & Methods: An online survey has been addressed to over 500 respondents from international companies, where 160+ complete answers were received from the most important types of organizations in the business services industry. The non-parametric rho Spearman correlation coefficient and the non-parametric Kruskal-Wallis test and business case for the RPA implementation efficiency were used. Findings: Based on the research results obtained, it should be emphasized that robotization technologies which raise the efficiency of financial and accounting services make an important impact on the efficiency of modern business services sector. Application of RPA assumes replacing work of an existing employee with the use of dedicated software (software robots) to support activities, primarily repeated and uncomplicated, characterized by a low number of exceptions. Implications & Recommendations: RPA application is commonly used in modern business services, particularly in the areas of Finance, Accounting, IT and Human Resources Management. By utilizing RPA technology, the effectiveness of operations increases while reducing workload, minimizing possible errors in the process. The greatest efficiency resulting from the RPA implementation was observed in the Accounts Payable department, to a lesser extent in the General Ledger department and in the Tax section. The assessment of managers in terms of the effects of RPA implementation is unequal, while for Business, IT Process Outsourcing companies (BPO / ITO), Shared Service Centers (SSC), Consulting / Advisory companies and their customers no significant differences were found. Contribution & Value Added: The article presents an assessment of the effectiveness of the use of Robotic Process Automation in Process Outsourcing companies (BPO / ITO) and Shared Service Centers (SSC) operating in Poland. It is one of the first studies of this type for enterprises operating in Poland. The article uses a relatively large number of responses (160+) from the respondents. In the previous studies in the literature, the answers obtained came from a much smaller number of respondents and were conducted in the form of direct interviews. In the article, the group of respondents consists not only of managers of outsourcing companies, but also auditing companies and clients of outsourcing companies. The article also presents a financial simulation of the effectiveness of BPO / ITO and SSC using Robotic Process Automation, which additionally validates the responses obtained in the questionnaire.

The application of computer-based technologies in academic education has at least three decades of history and experience. In some study fields, it has been present since the very beginning, while in others it has become a necessity only in recent years. The ongoing technological revolution is disrupting the traditional professions with fundamental changes and – in some cases – even with the threat of disappearance of jobs. The finance and accounting professions are expected to undergo a technological change in the near future. While the changes are visible at the corporate level, university education seems to lag one step behind. We conducted a study among the students and graduates of the finance and accounting line of studies at the Cracow University of Economics. Using regression analysis, we investigate the perception of the usefulness of courses providing knowledge on new technologies like Artificial Intelligence (AI). We use a unique Polish setting, which is a leader in terms of outsourcing services. Our findings show that both students and graduates are aware of the importance of technological change. The courses teaching basic subjects are essential, but the current expectations are much higher in terms of the application of new technology based on AI in finance and accounting.

Objective: The aim of this article is to determine the awareness, preferences, significance, and effectiveness of application of artificial intelligence (AI) among participants of postgraduate studies in the field of financial management. Research Design & Methods: The pilot study was conducted with the use of a survey, and the findings were analysed using the Importance-Performance Analysis (IPA) method. The survey group was composed of individuals working on final projects developed within the framework of postgraduate studies in finance management, carried out in collaboration with e.g. ACCA, CIMA, CFA. Findings: The obtained findings have identified a demand for the incorporation of knowledge in the field of AI in the process of education in the area of finance management. The survey results will be used to modify the content of the curricula adopted for postgraduate studies in the field of finance management. Implications & Recommendations: The only chance for experienced professionals and managers to gain knowledge about AI is to enrol in postgraduate studies. The existing postgraduate curricula are flexibly modified, which makes it possible to incorporate the knowledge about state-of-the-art IT solutions and AI on an ongoing basis. This requires, however, permanent research into the needs of the developing market. Contribution & Value Added: The progressing digitalisation in the socio-economic sphere of our life translates into huge amounts of data being transmitted, collected, and stored, and calls for a need to implement new technologies and solutions utilising techniques and algorithms based on artificial intelligence (AI). The SARS-CoV-2 pandemic has increased the demand for modern IT solutions in the field of e.g. finance management.

Accounting of derivative instruments under International Accounting Standard 39 (IAS 39) were criticised due to the complexity and mismatch to business reality. Superseding IAS 39 with International Financial Reporting Standard 9 (IFRS 9) was aimed to simplify hedge accounting principles and contribute to the wider use of this model, and, on the other hand, to eliminate the imperfections of the previous standard and improve the quality of information on derivative instruments disclosed in the financial statements. IFRS 9 introduced a number of changes in the accounting of derivative instruments and therefore it seems reasonable to discuss their consequences and the impact on the reliability and credibility of information disclosed on derivatives. This is extremely important because derivatives are associated with a significant risk and often their improper use led to significant financial problems or even bankruptcy of enterprises and financial institutions. The purpose of this article is to present the most important changes in accounting for derivatives implemented in IFRS 9 and to analyze their impact on financial statements, i.e. true and fair reflection of economic effects of using derivatives.