RSM Poland


Entries from December 2015


21 December 2015
Michał DREAS

Conducting an assets inventory check is an obligation arising from the Accounting Act (let us remind you that on September 23, 2015, a new Act dated July 23, 2015 on amendments to the Accounting Act and other Acts entered into force [Journal of Laws 2015, item 1333]).

11 December 2015

Throughout the course of your business and the transactions you make, you will come across assets of various types and features. Ensuring liquidity of assets depends on whether you are able to determine their value in terms of money. However, there are other reasons why preparing a valuation of assets may prove necessary - transaction goals (trading a certain good) being only one of them. Most often, valuation of a given asset is prepared in connection with reporting requirements or to serve as an opinion in on-going court proceedings. Valuation is also used in management of certain assets as a tool for identifying factors that promote the growth of their value.

4 December 2015

When reviewing financial statements for the year 2014, I could not escape the thought that the National Accounting Standard No. 9 (referred to as NAS 9) 'Director's Report' did not result in any visible improvement in the quality of the elaborated documents. You may still come across reports that are roughly one page long, based on financial data from only two years or simply information that has been pasted straight from the financial statement, perhaps with a little comment saying 'increase/decrease by so and so', without any kind of detailed clarification as to the root cause of such changes. Obviously, this is not to say that the management report should be revealing company business secrets. Still, a more comprehensive approach may be expected here, with the information provided allowing the reader to assess the company's actual condition.