Fossil fuels, which are widely used in Poland, have negative environmental and health consequences. Photovoltaics, used especially by households, contribute to a reduction in CO₂ emissions and indirectly reduce the problem of smog. However, the high cost of photovoltaic installations forces the use of economic incentives, such as direct subsidies to the installation, under the “My Electricity” program (hereinafter referred to as the program). The development of photovoltaics is hindered by the ineffective functioning of transmission grids. In the current edition of the “My Electricity” program, the main emphasis was placed on the use of electricity at the place of generation through the use of energy storage facilities and the transition to a new billing system, so-called net billing. The program indirectly contributes to the growing popularity of heat pumps as an installation that uses electricity generated on-site. Significant changes in the program inspired the authors of the study to plan and conduct nationwide research; they assessed investment plans for energy storage and heat pumps by potential individual investors, i.e., owners of single-family houses. Based on the results obtained, the authors of the article concluded that the new version of the “My Electricity” program will almost exclusively affect the energy storage market. This impact will stimulate the development and application of this technology. In the case of the heat pump market, the current demand will remain at the same level. The program will contribute to achieving the assumed goals, especially energy consumption at the place of production and reducing so-called low emissions. The program will not affect the demand for heat pumps.

The case study included approx. 0.5 million ha of forest areas in Poland that are managed by the Regional Directorate of State Forests. The objective was to assess the impact of four different scenarios restricting the size of forest areas available for commercial use. Based on different criteria, each scenario set aside 10% of the total land area for strict protection on forested land, which is in line with the EU Biodiversity Strategy 2030. The economic impact (volume of reduced wood raw material) was statistically estimated for each of the four scenarios. It was confirmed that the layout of forest habitats is essential for specific limitations in forest production. For the optimal implementation of the provisions of the strategy, a balance in the selection of social, economic, and natural elements must be considered. This protects primarily the most valuable natural habitats characterized by the highest level of biodiversity, age diversity, and dispersion within the studied forest unit. The presented results may support decision-making processes used to maximize biodiversity protection while minimizing the negative economic impact of this environmental protection.

As the reported number of data breaches increase and senators push for more disclosure regulation, the SEC staff issued a guidance in 2011 on disclosure obligations relating to cybersecurity risks and incidents. More recently, on February 26, 2018 the SEC Commission issued interpretive guidance to help assist public companies prepare disclosures regarding cybersecurity risks and incidents. As reported incidents of cybersecurity breaches occur, investors are concerned about the risks associated with these incidents and the impact they may have on financial performance. Although the SEC staff guidance warns public companies to make timely disclosure, recognizing the threat that cybercrime poses to investors in the public markets, it does not go far enough to institute direct measures that would compel companies to reveal the nature and scope of a cybersecurity breach. In light of the lack of specific guidance on cybersecurity disclosure, the aim of this study is to develop a better understanding of the cybersecurity disclosure landscape. The purpose of this study is phenomenological in nature, designed to assess the impact of the 2011 SEC staff guidance on the disclosure of cybersecurity risk factors and provide recommendations for future research following the 2018 SEC Commission’s interpretive guidance. This study analyzes the impact of the SEC guidance by investigating risk factor disclosures both before and after the SEC’s 2011 issuance date. We pay particular attention to organizations that have suffered a data breach, as determined by the Privacy Rights Clearinghouse (PRC). The study uses companies listed on the S&P 500. Results show that there has been a 23 percent increase in the number of firms referencing cybersecurity in the Risk Factor section of the 10-K and that factors such as the size of the firm, prior reported breaches and breach type were predictors of disclosure. The study also found that there is a tendency not to disclose reported breaches in the narrative of the 10-K and that the cybersecurity risk factor disclosures do not include details on actual breaches. The underreporting of cyber incidents may be in part be the result of alternative interpretations of what constitutes a “material” breach. This study should be of interest to the SEC, in particular, as they continue to evaluate cybersecurity guidance in terms of its implementation by corporate filers and as they move toward a cybersecurity disclosure regulation. In addition, as the SEC continues to scrutinize cybersecurity incident disclosures and issue comment letters to public companies with inadequate disclosures, it should be of interest to corporate filers, as well as to investors, analysts and other professionals that are concerned with the informativeness of corporate cybersecurity disclosures particularly as they affect profits.

Silvicultural processes are an essential issue of rational forest management. Both man-made (artificial) and natural restoration methods are used in European forestry. A study of the cost drivers of forest restoration from the early stages of land clearing to cultivation was conducted for Scots pine tracts in a coniferous forest habitat. The cost data were tested for homogeneity of variance (Levene’s test) and normality (Shapiro–Wilk test) using a significance level of α = 0.05. The research indicated that the cost of artificial restoration (planting) of a pine forest is about 30% higher than the cost of natural restoration. The research also indicated that the main cost driver (about 35%) of the artificial restoration process was seedlings and planting costs. Further, the viability of supplementing natural planting with artificial planting was confirmed.

Publikacja porządkuje zagadnienia sprawozdawczości jednostek gospodarczych i kierunków jej rozwoju w ujęciu finansowym i zarządczym. Autorki monografii poświęciły szczególną uwagę trzem aspektom: (1) możliwym zafałszowaniom treści informacyjnej sprawozdań finansowych oraz ich negatywnemu wpływowi na podejmowane decyzje przez interesariuszy; (2) roli audytora (biegłego rewidenta) w procesie weryfikacji i poświadczania wiarygodności danych zawartych w sprawozdaniach finansowych; (3) zasadom raportowania zarządczego na potrzeby systemu informacyjnego jednostek gospodarczych. Prowadzone rozważania odniesiono do praktyki gospodarczej, a także osadzono w aktach prawnych regulujących proces sprawozdawczy w Polsce. W publikacji odniesiono się również do obecnej sytuacji wywołanej pandemią covid-19 podkreślając jej wpływ na sprawozdania finansowe jednostek za 2019 rok i związane z nią zagrożenia kontynuacji działalności podmiotów gospodarczych. Monografia adresowana jest do szerokiego grona czytelników: studentów, przedsiębiorców, menedżerów, dyrektorów finansowych, głównych księgowych i analityków finansowych.