To 30 June. some companies are required to close the year with financial statements and, for some entities, also with a report on the company's activities.
A detailed description of the nature and content of the report on the activities of the company (hereinafter SzD) can be found in the Communication of the Minister of Development and Finance, dated 4 January 2018, on the announcement of resolutions of the Accounting Standards Committee on the adoption of an update of National Accounting Standard No. 9 Activity report.
Who is obliged to prepare the activity report
According to the Accounting Act, the head of the unit is to prepare together with the financial statements comprehensive information about the company's activities and nature. This applies to managers in capital companies, limited joint-stock companies, mutual insurance companies, mutual-reinsurance companies, cooperatives, state-owned enterprises, as well as those of public and limited-liability companies, all of which are held by equity companies, limited-stock companies or companies from other countries of similar legal form to those companies, and in the case of specialised open investment funds, closed investment funds and alternative investment companies.
What information is to be provided by the activity report
SzD is a personalized descriptive-number report. The legislator did not define the template for the report, but provided information on the content to be included in the report. This is intended to be an individual assessment of the head of the unit, who will present a ‘assessment of the conditions, results and prospects of the entity's activities and an explanation of the specific characteristics of its activities, achievements and situations’.
In particular, it is to include information on:
- • events that significantly affect the activities of the entity during and after the financial year, until the date of approval of the financial statements;
- • the expected development of the unit;
- • major R & D developments;
- • the current and anticipated financial situation;
- (b) the number and nominal value of the shares acquired and disposed of in the financial year and, in the absence of a nominal value, their book value, as well as the share of the basic capital which they represent, (c) in the case of the acquisition or disposal of the shares, the equivalent of those shares, (d) the number and nominal value of all the shares acquired and retained and, in the absence of a nominal value, the book value and the share of the basic capital which they represent;
- the branches held by the unit (establishments);
- (a) risks: price, credit, significant cash flow and liquidity disruptions to which an entity is exposed;
The activity report, like the financial report, must be prepared in Polish, in electronic form, i.e. documents must be signed with an electronic signature or signed with a confirmed ePUAPi trusted profile attached to the notification to the Repository of Financial Documents of the National Court Register.
Author:
Grażyna Zaremba Managing Partner in charge of the Department of Accounting Outsorting. From 2011 performs the function one from Managing Partners in Russell Bedford Poland