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Audit and accounting insights

We write comprehensively on business finance. Accounting policy, compliance of accounting books with legal regulations and the rules of cooperation with statutory auditors can’t keep their secrets from us. Interested in financial statements audit and reporting under Polish and international standards? Wondering what the financial audit looks like in practice and what the outsourcing of accountancy involves? Read the Audit and Accounting Insights on our RSM Poland Blog - an informative and inspirational source of knowledge for entrepreneurs.

How Debt Affects a Company’s Liquidity

28 July 2021
Kaja DADEL
The company’s debt ratio is an important criterion for assessing business performance. Even though raising external capital prompts faster growth and boosts your profitability, you must remember that this kind of capital raising involves significant risks. Liquidity hazards seem to be critical here.

Tax inspections: Does Faster Mean Better?

8 June 2021
Aleksandra KORZEŃ
With the new digital age technologies, accounting office staff gradually got used to e-mail communication, relying on scanned documents and having more casual connections with tax office staff. The pandemic that has made working from home so popular and has also greatly streamlined the information exchange between accountants and clerks. However, does that mean that digitisation itself is enough to solve all the accounting problems?

Client onboarding in an accounting firm: what to look out for if you want to start off on the right foot?

27 May 2021
Anna KALISZ
When onboarding a new client to your accounting firm, a member of your staff dedicated to support this particular entrepreneur should focus on many things, starting from building a good relationship to implementing proper procedures that will help identify specific needs your client has.

Books of Account in an enterprise: Monday reflections on selected problems of our time...

11 May 2021
Piotr STASZKIEWICZ
It has been a while since my last post on the principles of accounting, and yet, over this long time I have had a number of discussions about my last blog article that helped me collect so many responses and concerns from my readers that I can now revisit the issues I discussed back then, this time from a slightly different perspective.

Mergers of Trading Companies Under the Accounting Act Part 2

6 May 2021
Leszek WOZIŃSKI
In the case of a merger of companies where the existing shareholders do not lose control over companies after the merger, the pooling of interests method referred to in Article 44c of the AA can be applied. In particular, this applies to mergers of direct or indirect subsidiaries of the same parent company, as well as to mergers of a lower-tier parent company and its subsidiary.

Mergers of Trading Companies Under the Accounting Act Part 1

19 April 2021
Leszek WOZIŃSKI
Trading companies with similar business profiles often decide to merge in order to grow faster. Mergers are used as a solution to enhance the effectiveness of companies and reduce operating costs, thus achieving synergies.

Donations and the CIT tax relief

31 March 2021
Katarzyna KOZIOROWICZ
More and more businesses decide to build their future taking into account the Corporate Social Responsibility – CSR, which certainly works for the benefit of the company image. One of the ways to support local communities may be a donation. If certain conditions are met, a legal person making an in-kind or cash donation may claim an income tax relief. Let’s check then if helping may indeed pay off.

Valuation and its importance in accounting

15 March 2021
Małgorzata SKÓRA
Determining the value of assets and liabilities affects items presented in the balance sheet (statement of financial position of the entity). What is more, it defines the financial result of the company. Given the fact that one of the tasks of accounting is to provide the information about the economic value of the entity, fair value began to be popular both for the initial valuation and for the balance sheet valuation. This valuation parameter, corresponding to the arm’s length value by definition, has become a source of great controversy, mainly due to accounting abuse.

Foreign currency transactions according to IAS 21

18 January 2021
Weronika ZIEMNICA
Business operations often involve foreign currency transactions. These transactions should be accounted for in the domestic currency, which means they must be translated, measured and properly presented. This, in turn, raises a number of questions about domestic and international reporting. The regulations found in International Accounting Standard 21 “The Effects of Changes in Foreign Exchange Rates” offer a helping hand here.

Accountant needed now. Short guide on how to decide on an accounting firm to work with

6 October 2020
Joanna WILCZYŃSKA
Doing the bookkeeping on your own is not always and not necessarily a good idea, and that is mainly because the accounting and tax regulations are confusing and their interpretations differ. Our long experience in saving sinking ships shows that it is simply better to leave some things to professionals. Therefore, what should you focus on when analysing the offers of accounting firms? Here is a handful of good tips.

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