Entries from - page 29

The completeness of company registration procedure is of material importance for entrepreneurs wishing to start up their business in Poland. From 1 December 2014, new regulations that are supposed to simplify the registration process of the entity into the tax office and the Statistical Office, came into force. Indeed, from then on, once the company is entered into the register of entrepreneurs of the National Court Register,  it is also entered into the register of taxpayers (receives a NIP) and, at the same time, granted the National Business Registry Number (Polish REGON). Entrepreneurs can finally start operating.

We have already covered the issue of cooperation with an auditor but, while scanning publicly available financial statements, especially of the companies listed on New Connect, I came to the conclusion that there is still too little talk about certain issues. I suggest looking at a few randomly selected financial statements presented on the issuers’ websites. My point is not to assess the economic activity of the companies, but to see how information on achievements of a company in a given year is included in its annual financial statements, which, to my mind, should constitute the information provided by the board to the supreme authority of the company, namely its owners (indeed, it is shareholders that are most important in the company, because the ownership belongs to them). I browse through financial statements of the companies listed on New Connect quite often and two things strike me, as an outside reader, most: first, not including all data required by the Accounting Act and second, overall slovenliness of the presented financial statements, which aspects show the attitude of the companies’ managements to this official document.

It is evident that in the free-market economy, especially in branches with low entry barriers such as consulting, a customer has a special position. It is our client who, as a buyer of goods and services, determines the success, or failure, of  business we – professional advisors and consultants, run.

It often happens that before the optimization begins, we need to solve problems related to mentality differences – and this is when the huge value added of cooperation with German Desk can be demonstrated.