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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_Formularz_TPR

Obligation to show controlled transactions in the Transfer Price Information (pl. TPR) form and no need to submit information on contracts concluded with non-residents (pl. ORD-u)

10 March 2022
Kamila DOBOSZ
In 2021, among the taxpayer’s reporting and information obligations for the tax year ending on December 31, 2020, there were reporting on contracts concluded with non-residents within the meaning of the foreign exchange law (ORD-U form) and reporting related to transactions with related entities or contractors from tax havens (TPR form). The obligation to submit the ORD-U information expired on March 31, 2021, and the TPR information on December 31, 2021.
RSM_Poland_Graphic_e_KRS

Convenient and fast e-KRS: a new dimension of the registration process

18 June 2021
Zuzanna BRÓDKA
Plans of introducing an online registration procedure in the National Court Register (in Polish: KRS) were developed back in 2018. Unfortunately, the online registration process still remains merely a proposal.
Apart from the Code of Commercial Companies, mergers of trading companies are regulated by the Act of 29 September 1994 on Accounting

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.
Apart from the Code of Commercial Companies, mergers of trading companies are regulated by the Act of 29 September 1994 on Accounting

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.

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.
RSM_Poland_Graphic

A step-by-step guide to closing a financial year

15 January 2016
Aneta STANIEWSKA
The end of the year is the time of stocktaking and closing of the account books, therefore, it would be thoughtful to get ourselves well prepared for it. If you are in the middle of closing the financial year, please, acquaint yourself with the following schedule to check if you have already performed all your legal duties.

The most frequent errors in financial statements

17 November 2015
Ewelina MĄDRAWSKA
Apart from issues related to inaccurate presentation of figures in the balance sheet as well as profit and loss accounts, one may often encounter various shortcomings in relation to the cash flow account which is an important starting point for the analysis of the degree of financial liquidity of an undertaking as well as cash flow in the company. There may be also errors in respect to the notes to the financial statements and the most common one is the lack of adequate disclosures, including those relating to economic events which, in the given period, do not relate to the account books, yet they may have a significant impact in the future.

What are the penalties for failing to submit financial statements?

28 September 2015
Karina KOPCZYŃSKA
Art. 79 p. 4 of the Accounting Act indicates that whosoever, contrary to its provisions, fails to submit financial statements or management reports to the relevant court register, is liable to a fine or penalty of restriction of liberty. Penalties for failure to submit financial statements are also due to the Fiscal Penal Code.