Accounting Developments in Poland

Accounting is the methodical and full recording of financial transactions relating to a business, and it also denotes to the procedure of briefing, examining and evaluating these transactions to cross checking agencies and tax collection agencies. Accounting is one of the key purposes for nearly any company. It may be done by an auditor and accountant at small businesses or by substantial finance subdivisions with lots of employee’s at

It define the scope of judgment in planning financial statements by formulate the characteristic, activity and restrict of financial accounting and reporting. It also increases different of financial statements by reduce the number of other accounting methods. If standards were come from a reasonable style of concepts. Likewise, reporting requirement will be more constant and fair because they will record accounting base on former set of concepts. Moreover, the setting requirement will be more economical because problem should not be discuss from different position. In additional, it help to reduce accounting common error and political

The purpose of this paper is to define accounting, and identify the four basic financial statements. The paper also explains how the different financial statements are interrelated to each other and why they are useful to managers, investors, creditors, and employees.

In Germany, tax law has influence strongly on accounting and financial reporting. The historical is the main reason for this linkes is between taxation and financial reporting. In 1874, the corporate income taxation has been introduced to the Commercial Code in 1862. It was convenient to link corporate income taxation to existing financial statement. Moreover, EU Directives and the forces of globalization are the two main external factors that have influence financial reporting in Germany in recent years.Even before the EU’s decision; large German companies like Daimler-Chrysler that had their shares listed on foreign stock exchanges were already using internally acceptable accounting standards.

Poland, which is about the size of Texas, in comparison to United States, is a small country located in central Europe. It borders on Germany in the west, on the Baltic Sea and

Financial statements are used to determine the business activities of a firm and the role of accounting analysis is to determine the accuracy and quality of the information provided. This analysis would look into the degree of its accounting figures captures its business reality through the policies used and its resulting noise, potential forecast errors and its impact on Myer’s profit.

Poland is located in the north-eastern region of Europe bordering Germany, Ukraine, and Austria. Geographically, Poland has a coastline on the Baltic Sea and is otherwise surrounded by land. This realm has old and new mountain ranges, lakes carved out by glaciers, flat plains, lush forests, and white coastline beaches. Poland became an independent country in 1918 and has had to regain its independence several times since.

The Polish are a proud people, with a very long history dating back 1000’s of years. This history is plagued with many hardships and turmoil. During World War 2 Poland was invaded by both the Germans and the Russians.Throughout the war, the Germans and Russians killed 6 million Poles in concentration camps and gulags. After the war, the Polish are abandoned by the west and allowed to be controlled by the Soviet Union, where many more will die due to famine, corruption, and forced labor. Poland was able to break free of the communist influence and eventually joined into the EU. Since joining, the Polish economy and institutions have grown at remarkable rates, and today Poland stands as one of the richest, most developed and most democratic nations

Poland, which is about the size of Texas, in comparison to United States, is a small country located in central Europe. It borders on Germany in the west, on the Baltic Sea

As the complexity of our financial economy develops it is important that our accounting standards progress in accordance. Accounting is very important to the development of the global and local economies. Accounting is basically the gathering, summarizing and presenting of financial information of an entity to interested internal, external and possible investors. This information should be presented in a non-bias way so that other people are able understand.

In this report I will be describing how legislation and accounting concepts, could affect a business company’s accounting policies. I will also be talking what Acts contain, concepts and their importance, and also accounting policies. I will be supporting my work with examples.

Regulation is defined as a set of rules that is designed to control and govern conduct by authority (Deegan 2009, p.59). On the basis of this definition, Deegan (2009, p.59) has defined regulations relating to financial accounting as rules that are developed by independent authoritative body to govern the preparation of financial statements which are accounting standards. Since decades ago, there have been arguments for and against the existence of accounting regulations. With a stance of pro-regulation, this essay is going to examine the reasons that financial accounting and reporting should be regulated and the merits of accounting regulations.

An important function of the accounting field is to provide external users of financial statements with assurance that the financial information being presented is both reliable and accurate. This basic function of accounting is so important that there is an entire field of experts, called auditors, dedicated to assuring its proper performance. Throughout history there have been many instances in which the basic equilibrium between an institution and current/potential investor has been threatened due to a lack of accountability and trust between the two parties. This issue has been the catalyst for many discussions regarding the proper procedures a firm should follow in order to provide

The Burns and Scapens framework for analyzing managerial accounting change was built on the study of old institutional economics, which sees "economics as a process of social provision, subject to multiple and cumulative causation." This view culminates in a model that argues that the managerial accounting practices at institutions are subject to a process of constant change, influenced by routines and rules. The institutions contribute to these routines and rules, but so do actions on the part of managers within the institutions. By combining multiple influences over time, we arrive at modern managerial accounting practice. In other words, Burns and Scapens tells us that managerial accounting practice changes over time, influenced by a number of factors including rules, routines and actions.

This article initiates with the introduction on what is audit planning. It basically addresses the audit plan strategy of K & S Corporation limited’s Financial Statements. Being an external auditor of the company, key factors to be considered in auditing the financials of the subject company have been discussed in the article. The most significant accounts at risk being materially misstated have been critically examined citing the possible risks associated with such accounts. Last but not the least, the article concludes with recommendations with respect to audit assessment plan of the company. Hence, this article seeks to act as a ready reckoner guide for an audit manager in audit planning of K & S Corporation Limited.