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The problem of whether and how to report in financial statements the right to use property and the obligation to pay rent or return the used property to the lessor after leasing is a fairly complex area in which it is difficult to find a generally acceptable accounting treatment. Especially for entities that are the subject of public interest, it is being demanded that in view of space comparability operative leasing should be reported on the side of lessee in the statement on financial position, both on the liabilities side, as well as on the assets side. Some possible approaches to reporting these facts are analyzed in this paper. At first the attention was paid to the simple operational lease contracts with a fixed term lease - there were compared the impacts of this way of reporting with the impact of existing accounting solutions. Moreover, the attention was also paid to the complicated lease contracts, such contracts with an option to extend contract or leasing contracts in which rents are divided into a fixed part and a part constructed variable. There were evaluated the effects of different views on the reporting of these contracts, in particular the views of the IASB and the FASB. Many preparers of accounts, however, justifiably concerned that this solution is quite complicated and the entity would be unduly burdensome due to the benefits achieved. This problem could be even more pronounced for smaller entities for potential adjustments to standards for SMEs. Such entities are often against mere change over to the principle based on the transfer of risk and commissions connected with leasing.

IFRS for SMEs were adopted in July 2009 as a result of efforts to harmonize financial reporting for SMEs. These standards are based on the same principles as full standards. The aim is, compared to full IFRS reporting of these businesses, to significantly simplify, mainly from the reason that the strict application of the principles of the full standards does not excessively financially and administratively burden smaller accounting entity. Field of identifying, recording and reporting of intangible assets except goodwill is an important field in which the methodology is substantially different. In the present paper there is documented on the example the impact of different methods for recording of internally generated intangible assets in the both systems into balance sheet and profit or loss and into the selected indicators of financial analysis. Definition of issues that may arise during the transition from the IFRS for SMEs to full IFRS and vice versa, in the context of drafting the opening balance sheet is another field to which the paper is dedicated.

The aim of article is to discuss the role of ethics in process of corporate culture creation. Purpose, as embodiced in corporate culture, is the glue that holds organizations together.
Corporate culture is the shared values and meanings its members hold in common and that are articulated and practiced by an organization's leaders. Corporate culture is related to ethics through the key ethical values and leadership styles the leaders espouse and practice; heroes and heroines the company rewards and holds up as models; rite, rituals, and symbols organizations value; and way organizational executives and members communicate among themselves and with their stakeholders.