Publication date: February 2, 2026

The valuation of assets and liabilities is one of the fundamental mechanisms of financial accounting, determining the recognition of economic events in financial statements. Through the valuation process, economic events are translated into measurable monetary terms, enabling the preparation of a balance sheet, profit and loss account, and other elements of a financial statement. Both the Polish Accounting Act and international financial reporting standards are based on the assumption that there is no single universal valuation method. The accounting system allows for the use of diverse valuation bases, depending on the type of asset, its purpose, and the expected realization of future economic benefits or liabilities. This leads to a mixed valuation model, in which cost-based and market-based solutions coexist. Against this backdrop, changes in international accounting regulations, including the annual amendments to IFRS and IAS effective from 2026 and the introduction of the new IFRS 18 standard, are particularly significant. Although these regulations do not directly change the basis for the valuation of assets and liabilities, they do impact the presentation and disclosure of the effects of adopted valuation decisions. The purpose of this article is to discuss the principles of valuation of assets and liabilities in accounting, taking into account the regulations of the Accounting Act and international financial reporting standards, as well as to present the significance of the changes in force from 2026 for financial reporting.

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Publication date: January 28, 2026

The trade in works of art poses many practical legal challenges. This stems from the fact that numerous provisions, scattered across various legal acts, apply. To gain a thorough understanding of art trade law, one must be familiar with the following regulations:

1. Act of 23 July 2003 on the protection and care of monuments (consolidated text: Journal of Laws of 2024, item 1292).
2. Act of 11 March 2004 on tax on goods and services (consolidated text: Journal of Laws of 2025, item 775, as amended).
3. Regulation (EU) No 952/2013 of the European Parliament and of the Council of 9 October 2013 laying down the Union Customs Code (OJ L 269, 2013, p. 1, as amended).
4. Act of 19 March 2004 – Customs Law (consolidated text: Journal of Laws of 2024, item 1373)
5. The Act of 23 April 1964, the Civil Code (consolidated text: Journal of Laws of 2025, item 1071).
6. Council Regulation (EC) No 116/2009 of 18 December 2008 on the export of cultural goods (Codified version) (OJ L 39, 2009, p. 1).

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Publication date: January 23, 2026

In the face of dynamic changes in the labor market and the growing legal awareness of employees, the proper conduct of the dismissal process is becoming one of the key challenges for human resources departments and management staff.

Termination and expiration of the contract

First, it is important to distinguish between two basic procedures for terminating an employment relationship, which are often confused in practice, leading to procedural errors. Although both termination and expiration of a contract lead to the end of employment, their legal nature is different. Termination of an employment contract is the result of a declaration of intent by one or both parties to the employment relationship. This requires active action, such as submitting a written document or proposing an agreement. Expiration of a contract, on the other hand, occurs by operation of law in strictly defined situations, regardless of the parties’ will.

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Publication date: January 21, 2026

Business concentrations are common and significant phenomena that constitute a part of modern economic activity. They include takeovers, mergers, the acquisition of assets, and even the creation of joint ventures. Their primary goal is typically to develop companies and increase competitiveness and efficiency. They can also lead to a restriction of market competition. Therefore, the legislature has introduced the obligation to notify the President of the Office of Competition and Consumer Protection (UOKiK) of any intended concentration in cases where it may affect competition conditions in Poland. This article will discuss when an enterprise must notify the President of the Office of Competition and Consumer Protection (UOKiK), what information should be included, and the procedure conducted by the President of the UOKiK.

Reporting the intention to concentrate

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Publication date: January 20, 2026

Foreign direct investment (also known as FDI) is a form of capital investment in which an investor from one country acquires a permanent stake in a particular enterprise operating in a foreign market, thereby gaining real influence over its operations. This cash flow is long-term and serves not only to generate financial profits but also to provide operational and strategic control over the foreign entity. Through foreign investment, the investor can acquire a significant stake in the company’s ownership structure, and therefore hold at least 10% of the company’s share capital. Often, the decision to conduct such investments involves more than just transferring capital; the investor also invests resources, modern technology, and management staff, ensuring the efficient operation of the foreign entity. These investments can take various forms, from the construction of new plants to the acquisition of existing enterprises. In each of these situations, the investor is responsible for managing and shaping the entity’s market situation, which is the difference between foreign direct investment and passive forms of capital investment. Moreover, unlike short-term investments, FDI typically represents a long-term commitment to a specific foreign market, requiring compliance with specific regulations and meeting various requirements. Investors must primarily consider the target country’s political stability, the availability of qualified labor, and the potential for economic growth. Foreign direct investment currently constitutes one of the foundations of globalization and the integration of global markets.

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