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Balance sheet

RSM_Poland_Dyskontowanie_Leasingu

Discounting lease agreement step by step

10 January 2023
Klaudia GREC
In our articles about leasing, we have already written about the classification of leases on the balance sheet and the economic life of leased assets according to balance sheet law. On a few examples we have shown how to interpret the regulations in this area in order to have the most reasonable estimation. This time we will take a look at discounting cash flow related to the lease agreement and the relation between that cash flow and the market value of the lease object.
RSM_Poland_Przygotowanie_Ksiag_Do_Badania

How do you prepare your books for an audit?

7 November 2022
Justyna SZCZYGIELSKA
The end of the year is approaching fast, and for most businesses it means they need to close their accounts and prepare their financial statements. Unfortunately, this year there may be some trouble around the corner: due to exceeding predefined thresholds, many organisations will be burdened with additional obligations arising from the requirement to have their financial statements audited by a statutory auditor.
RSM_Poland_Leasing_Okres_Uzytecznosci

Economic life of leased assets according to balance sheet law

18 October 2022
Klaudia GREC
Under the balance sheet law, if lease was concluded for a period of more than 75% of the economic life of the leased asset, it should be recorded in the balance sheet as finance lease. How can the entrepreneur check if the lease they concluded meets this requirement and thus must be recognised accordingly in the books?
RSM_Poland_Leasing_W_Bilansie

Classification of leases on the balance sheet

5 October 2022
Klaudia GREC
Leasing is a unique form of business financing, where companies do not need to purchase the assets in order to use them. With the growing popularity of lease, many entrepreneurs are considering the pros and cons of this type of financing, also in the context of tax costs. What is very important yet often overlooked here is that your lease must be recognised on your balance sheet properly. What do you need to focus on?
RSM_Poland_Graphic_Kryptowaluta_W_Bilansie

Cryptocurrency on the balance sheet

19 January 2022
Not long ago, we had a look at the valuation of fixed assets for impairment, i.e. we briefly discussed the impairment test. The choice of this topic was due to the economic downturn in certain industries. Today, we are going to discuss another area of financial reporting, very popular in recent years, namely cryptocurrencies. How do you recognise and value these virtual assets in your financial statements?

Accounting, group and tax balance sheets − or what robs accountants of their sleep and how to change it

23 January 2017
Piotr STASZKIEWICZ
The economic reality is not so simple as it is described in academic textbooks, but this is the difference between theory and practice. This is particularly visible in our country, where young graduates of business schools often painfully collide with the business reality. Their enthusiasm is dampened on the occasion of an unassisted attempt at posting, settling taxes, preparing financial statements and performing audit controls. It's just the way it is and it can't be helped − at least until apprenticeship and training programmes based on case studies are implemented in the school system and classes are conducted by practitioners.