Preparation of financial statements — support for businesses

Who can benefit?

KPMG’s support in financial statement preparation is particularly suitable for businesses that:

• Carry out complex economic transactions
• Are in the process of designing or revising their accounting policies
• Need to develop and implement financial reporting tools
• Intend to review their existing financial reporting processes for efficiency
• Would like to have pre-prepared customised templates for financial statements, adapted to their specific business needs
• Plan to train their accounting and financial reporting staff in Polish accounting standards or IFRS.

Benefits for clients

• Reliable and transparent financial reporting
• Savings of time and money
• A comprehensive approach to financial reporting
• Increased efficiency through the use of state-of-the-art IT tools.

Adjustment services and report conversion:

• Transition to IFRS or other reporting standards
• Alignment of intra-group reporting standards
• Useful tools and models
• Implementation of new accounting standards and harmonisation of accounting standards.

Integrated reporting:

• Harmonisation of accounting policies and procedures within the business group
• Developing accounting policies (for statutory and intra-group purposes)
• Revision of the chart of accounts
• Harmonisation of reporting for statutory and intra-group purposes.

Integrated financial reporting:

• Compilation of financial statements, and financial and management information
• Preparing pro forma reports
• Developing effective and efficient reporting models
• Support in consolidation processes
• Preparing a consolidation model and providing consolidation tools
• Assessing the business group structure and reporting efficiency within the group
• Support in conversion to XML format (e-reporting).

Efficient period closure:

• Implementing project management tools (rapid period closure)
• Improved reporting and control procedures
• Support in implementation of period closing elements, such as stock-taking, calculation of reserves, etc.

Our competences

Advisors from our team have many years of experience in accounting and reporting. Our qualified specialists (tax advisors, advocates, attorneys-at-law and accountants) have the required skills and sectoral expertise.

Our advisors have expertise in the Polish Accounting Act, International Financial Reporting Standards (IFRS) and US GAAP.

KPMG offers temporary secondments of specialists to work in the client’s accounting department under its direct supervision.

We assist clients in filling temporary staff shortages in all accounting positions, ensuring continuity of the accounting function.

Our services:

• Secondment of a specialist either for day-to-day work or to perform specific tasks
• Performing work at the client’s premises, remotely, or in a hybrid format
• Performing selected tasks within joint project teams (KPMG + client)
• Providing accounting and tax supervision in collaboration with the client’s accounting team.