Revenue recognition and expense recharges
When preparing financial statements, certain areas may present interpretational challenges. This article examines two such areas—revenue recognition and the recharging of expenses.
Accounting implications of government measures to address high energy prices
Over the past few months, the situation in the energy market has led to interventions by the state aimed at mitigating the impact on businesses (among others). Several measures have come into force to help busi…
Fees in accounting: estimated payables or reserves?
With the end of the financial year, many companies are faced with the need to recognise unpaid management or employee bonuses in their accounts. Each year we see different views on how to handle this in the fin…
How to deal with inventory and stocktaking
One of the key activities in the year-end closing and financial statements preparation is stocktaking. Finding out the actual balances of assets and liabilities and comparing them with accounting records is one…
How to prepare the related parties report correctly?
At the end of the fiscal year the statutory bodies and financial department teams do not have to prepare “only” the financial statements, they need sufficient forces left also for the preparation of the annual …