The transformation of the economy of Poland which started together with the change of the political system required that the principles of Polish accounting be adjusted to the needs of a market economy. The Ordinance of the Minister of Finance of 1991 concerning the principles of accounting was the turning point. From this moment onwards all enterprises conducting full accounting were obliged to apply the principles set forth therein. Over time, the said principles were gradually adjusted to the provisions of the IV Directive of the European Union which mentioned, among other things, one of the major principles of accounting: a faithful and honest presentation of the image of an enterprise. In Poland this principle was adopted in 1994, when the Accounting Act, the basic document governing bookkeeping in Poland till the present day, was passed.

Since the day the said resolution was passed, it has been amended many times in order to adjust its requirements to international standards and the expectations of readers of financial statements. Today, together with 3 domestic standards of accounting and numerous detailed ordinances indicating specific provisions, it constitutes the entire accounting system in Poland.