Audit & assurance
Our team provides comprehensive audit services in terms of fulfilling the company's legal obligations. We also ensure professional external audits for EU projects. However, simply performing the audit and delivering a raw opinion is not something we want to limit ourselves to. Our clients are always provided with detailed information as to make sure that data coming from accountants honestly reflects the actual situation of their business.
7 December 2018
Accounting Students Association KONTO at the Poznań University of Economics and Business in Poznań is again an organiser of a series of workshops for students as part of the event called Poznań Accounting Days. Our Audit Partner, Marcin KAWKA, conducted one of them yesterday.
3 December 2018
Last year we wrote a lot in our blog about the new IFRS 16 standard that significantly changes the concept behind considering contracts in terms of the necessity to disclose transactions in the lessee’s balance sheet. We are going to continue on this topic, answering another batch of the most frequently asked questions concerning this standard.
26 November 2018
For quite some time now we have been observing the increased activity of entities, asking questions about leases and requesting the analysis of contracts they have signed to use specific assets, be it lease or rental.
8 November 2018
Some time ago we wrote about changes pertaining to preparing financial statements and submitting them to a relevant court register, mainly about the fact that as of March 2018 they can be filed only electronically (e.g. in PDF format); yet, this form, simple as it may seem, has caused a lot of trouble, primarily due to the lack of personal identification numbers (PESEL) of board members and the lack of electronic signatures. Since filing financial statements online has proven to be troublesome, we may only guess that as of 1 October 2018 we are going to face a genuine disaster in this respect. Why is this so? Let me explain.
20 August 2018
In the previous article we presented the first step in the model framework of revenue recognition, namely contract identification. Under IFRS 15, revenue should be recognised when contractual obligations are satisfied. Therefore, the entity must first indicate performance obligations in the contract, which makes the second step in the new model of revenue recognition. We are going to discuss it further in this article.
13 August 2018
When applying IFRS 15, the first step should be to determine whether the contract exists and has been concluded with the customer
2 August 2018
According to experts, the new IFRS 15 concerning revenue recognition is a major milestone in accounting/reporting in recent years.
19 June 2018
The last time we discussed lease contract modifications. The next thing that should be addressed and is present in the economic reality is the leaseback. It is very often the case that entities first purchase a given fixed asset (a building, specialist equipment or manufacturing machine) but then, given the lack of funds or as a consequence of streamlining the financing of their investments, decide to sell this asset and lease it back later.
22 May 2018
30 June 2018 is the deadline for the approval of 2017 financial statements for entities whose financial year ended on 31 December 2017.
22 May 2018
In this article, resuming the topic of IFRS 16, we will have a look at situations in which a lease contract has been modified. In the opening remarks it is worth recalling that any changes of the interest rate, being the basis for calculating the lessor’s interest, or any changes of the index (e.g. inflation level), being the basis for calculating lease payments, are already included in the variable payments and shall not be discussed here any further. Any such changes result only in the need to make adjustments to the outstanding liabilities and adjust the right-of-use assets accordingly.