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Entries from April 2018

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30 April 2018
Justyna CHRZANOWSKA

So how do we go about bookkeeping if we want to seize the opportunity of keeping the books abroad within the established structures, which reduces the company’s costs, while avoiding any additional costs that may be incurred in the event the correctness of the bookkeeping is challenged? Theoretically the easiest, yet often the most difficult solution is to rely on properly configured bookkeeping software.

30 April 2018
Piotr STASZKIEWICZ

In the last article we mentioned that individuals may apply the new standard in the same way as other new standards – with a full retrospective approach. The modified retrospective approach may be of much greater interest. We cannot forget the opening balance adjustment completely, nevertheless the International Accounting Standards Board agreed to significant savings in time and costs when changing standards and implementing IFRS 16 by limiting the restatement of comparative years.

24 April 2018
Justyna CHRZANOWSKA

When a year ago one of our colleagues, Radosław OSMÓLSKI, wrote about the major pitfalls of using a foreign accounting system for keeping the books of accounts of a Polish company (read here), we have already had some experience both when it comes to shadow accounting and advisory on system solutions enabling reporting that would meet the needs of the Polish financial reporting and tax system. However, we are moving on every year, as we are working with an ever growing number of foreign financing and accounting systems and we are looking for even better solutions for our customers, so that doing business in Poland does not become a bureaucratic nightmare for them. That is why today we are going to focus not only on the form, but also on the place of bookkeeping.

23 April 2018
Piotr STASZKIEWICZ

We previously focused on establishing and discussing the leasing and non-leasing components and on how to divide fees between these parts of the contract. The following articles will cover topics related to the modifications of lease contracts and variable fees. We receive many queries about IFRS 16 and the application of the new regulations as of 1 January 2019, so let us start by looking at the application of the standard for the first time.

4 April 2018
Grzegorz GRACZYK

Everyone using ERP systems knows that uploading large volumes of data, such as customer data, is very time-consuming. At the beginning of the year, our IT Consulting Department reached out to prospective customers and their expectations by offering them a new functionality, i.e. the option to download and quickly edit customer data on the basis of their tax identification number (NIP), using the Central Statistical Office API. Owing to this integration with the CSO system, the user can save time and avoid many errors that could otherwise result from entering the data manually.