RSM Poland


Audit & assurance - page 4

Accounting policy (rules) in an organisation: Monday deliberations…

4 February 2019
Quality financial reporting, confirmed by an unqualified opinion of an auditor, seals the victory, proving that the information flow in the entity is flawless, the underlying aim of reporting is understood and the business is correctly reflected in the financial statements.

IFRS 15 – Revenue from Contracts with Customers (part 8). Recognise revenue in advisory and legal services

20 January 2019
Advisory and legal services are among the industries (along with telecommunications, IT and real estate) where the evaluation of the actual impact of the new regulations (IFRS 15) on financial statements is going to require a meticulous analysis of the new standard as well as the terms and conditions of contracts concluded with customers.

IFRS 15 – Revenue from Contracts with Customers (part 7). Recognising revenue in the construction industry

7 January 2019
We have recently devoted a lot of attention to the IFRS 15 standard which has introduced uniform principles for determining the time of recognising revenue irrespective of the service performed or the goods supplied (with certain exceptions). Today we are going to discuss the impact of these changes on reporting in companies on the example of recognising revenue from the performance of construction services.

IFRS 15 – Revenue from contracts with customers (part 6). Recognise revenue

21 December 2018
In our previous posts we have presented four steps of the model framework for revenue recognition. The last step of the five-step model framework described in IFRS 15 is to recognise revenue once conditions related to different contract elements are met.

IFRS 15 – revenue from contracts with customers (part 5). Allocate the transaction price to the performance obligations

19 December 2018
Agnieszka NOSOWSKA
In the last post on the new standard of IFRS 15 we discussed determining the transaction price (the third step in the five-step model framework). Today we are going to take a look at the next stage, namely price allocation.

IFRS 15 – revenue from contracts with customers (part 4). Determine the transaction price (continued)

13 December 2018
Agnieszka NOSOWSKA
Recently, when discussing the five-step model framework and determining the transaction price according to IFRS 15 we mentioned the methods of estimating the transaction price; we have decided to elaborate on these methods in today’s post.

IFRS 15 – revenue from contracts with customers (part 4). Determine the transaction price

11 December 2018
Agnieszka NOSOWSKA
After a couple of weeks we are coming back in our blog to the analysis of the new standard, i.e. IFRS 15. Just like IFRS 9, it is critical for entities preparing their reports in line with IFRS, because they both must be introduced for the first time in financial reporting as at 31 December 2018. Therefore, it is a good idea to take a closer look at the topic of revenue recognition and discuss it further

We discussed the most frequent errors in financial statements

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.

FAQ concerning IFRS 16 – Lease (part 2)

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.

FAQ concerning IFRS 16 – Lease (part 1)

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.