Finanse, Rynki Finansowe, Ubezpieczenia

Purpose – defining and clarifying the nature of creative accounting and similar concepts. Design/Methodology/approach – the article includes two basic parts. The first part contains a synthetic presentation of the definition of creative accounting and similar concepts. The second part proposes the interpretation of the concept of creative accounting with the context of the "true and fair view" principle. Second part contains also a catalog of accounting operations could not be equated with creative account-ing. The thought process carried out for the purpose of this article was based on the use of critical litera-ture review method. Findings – the concept of "creative accounting" is understood in the literature in various ways. For some authors it is an expression of negative accounting activities, while others notice its positive aspects. The analysis of the essence of creative accounting in the context of the "true and fair view" principle has shown that the use of creative accounting should not be equated with breaking the existing law, but only with a possible violation of ethical principles. Determining the scope of creative accounting is a problem-atic issue - it is much easier to distinguish the operations of accountants that go beyond the law – activi-ties identified with the concept of aggressive accounting. Originality/value – despite the fact that the concept of creative accounting has been present in the litera-ture for almost four decades, the authors argue to the present day about the nature of creative accounting. The paper attempts to organize terms similar to creative accounting and to suggest an interpretative pro-cess defining the nature of creative accounting.