Financial Statements

Accounting 

Financial Statements in the Time of the Coronavirus

We have not yet recovered from how our world virtually changed overnight. From a colourful world of abundance and wealth, we suddenly find ourselves in a world where we have to avoid personal contact, cannot move freely and fear for our and our family’s health. Despite all the big fears and smaller ones, many see the new situation as an opportunity. Suddenly we all communicate via modern technology, organise video- and teleconferences, scan, e-mail and find out that it might actually not be necessary to keep binders full of papers. 

22. 4. 2020
Accounting 

Foreign Exchange Gains or Losses in the Financial Statements

The year-end is approaching, which entails financial statements for those companies whose reporting period corresponds to the calendar year. The financial statements involve a number of procedures, referred to as closing operations, including an accurate measurement of assets and liabilities as of the balance sheet date. The accurate measurement of assets and liabilities denominated in a foreign currency also involves their remeasurement as of the balance sheet date. This article aims to summarise basic procedures and draw attention to some remeasurement issues. 

25. 11. 2019