It is not my purpose to enumerate the financial benefits of the due diligence process during negotiations, because this was discussed in the article "Due diligence − a service worth millions", but I want to point out the risk that is associated with too much confidence in yourself and your infallibility.
It is widely accepted that the first stage of the due diligence process is the signing by the parties of a non-disclosure agreement (NDA).
With the beginning of 2017, RSM Poland, as one of the first companies in Poland, is launching a comprehensive IT service supporting the NetSuite system.
The economic reality is not so simple as it is described in academic textbooks, but this is the difference between theory and practice. This is particularly visible in our country, where young graduates of business schools often painfully collide with the business reality. Their enthusiasm is dampened on the occasion of an unassisted attempt at posting, settling taxes, preparing financial statements and performing audit controls. It's just the way it is and it can't be helped − at least until apprenticeship and training programmes based on case studies are implemented in the school system and classes are conducted by practitioners.
The time to close and prepare financial statements for the year 2016 is approaching. In order to fairly present the value of assets at the end of the financial year, you must make an inventory at certain times and frequencies as defined in Art. 26 of the Accounting Act.
As we are getting back to "normal" life after Christmas relaxation and New Year's Eve attractions, many of us are wondering what the new year will be like and what it will bring. At the same time we summarise the past year − what we did, what proved to be a success and what went wrong. On the occasion of this reflection, we cannot ignore that in many situations, including success in business, a major role is played by factors independent of the interested parties, such as legal conditions, the situation on the labour market, currency fluctuations as well as supply and demand in the industry. In this context, how was the year 2016 for foreign entrepreneurs who have decided to invest or continued their business in Poland?
Not so long ago I wrote about a certain wrong approach to the valuation of fixed assets (revaluation model). Frequently, in the "revaluation" model, companies measure fixed assets at the fair value and cease to depreciate. Thus, the rules are confused with those that have been established for the valuation of investment properties. This is precisely according to IAS 40 that an entity may measure its investment properties at the fair value and does not need to depreciate. But first things first...
