Accounting Policy Development for Companies

A professionally developed accounting policy is the foundation of proper accounting and your company's financial security. We prepare documentation of accounting principles in line with the Polish Accounting Act, accounting standards, and the specific nature of your entity's business. We create an accounting policy tailored to your business model, accounting system, and reporting obligations.

Kamil KempistyPartner
PLEN

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Why is an accounting policy mandatory for a company?

An accounting policy is a key document that sets out an entity's accounting principles and the way its accounting books are kept. The obligation to prepare an accounting policy stems from the law and applies to entities that keep full accounting books. An adopted accounting policy ensures that financial operations comply with regulations.

Legal basis - the Accounting Act

The obligation to develop an accounting policy is set out in the Polish Accounting Act (UoR), which regulates how accounting books are kept and how transactions are documented. The accounting policy should be prepared in writing and cover the documentation of the entity's accounting principles. The applicable accounting policy must comply with the law and, in certain cases, with International Accounting Standards.

Who must have an accounting policy?

The obligation to prepare an accounting policy applies to entities that keep full accounting books and to businesses subject to full accounting. A company accounting policy is required, among others, for capital companies, foundations, and other entities keeping accounting books in accordance with the Act. An entity's accounting policy must be tailored to the specific nature of its business.

Consequences of missing accounting policy documentation

Missing documentation of accounting principles exposes the company to financial sanctions and the head of the entity to personal liability. An accounting policy is required during inspections, audits, and the preparation of financial statements. An outdated accounting policy can undermine the reliability of the accounting books and the financial result.

Professional accounting policy development - the scope of our service

We offer comprehensive accounting policy development tailored to your entity's business and legal requirements. The accounting policy we prepare covers the documentation of accounting principles, the rules for keeping accounting books, and the financial rules within the organization. We ensure full compliance with regulations and accounting standards.

Analysis of your business and accounting model

We start by analyzing your company's business, transactions, and the way accounting is handled. We check how the entity's accounting books are kept, which recording rules apply, and whether the existing accounting policy needs updating. This way, your company's accounting policy fits your business model.

Developing a compliant accounting policy

We create documentation of accounting principles in line with the Polish Accounting Act and accounting standards. The accounting policy set out in the document governs the rules for keeping accounting books, asset valuation, and determining the financial result. Every accounting policy we prepare is tailored to the specific nature of the entity.

Preparing the company chart of accounts

We develop the company chart of accounts, which is the basis for properly recording business transactions. We create a list of general ledger and subsidiary ledger accounts tailored to your business and reporting requirements. The structure of the chart of accounts ensures consistent entries and transparent accounting books.

Documentation of the accounting system and document workflow

We prepare documentation describing the accounting system, data processing, and the rules for protecting financial data. The accounting policy includes procedures for document workflow, archiving, and information security. The document sets out the rules for recording and documenting transactions in line with regulations.

Implementation and consultations for accounting staff and management

We implement the accounting policy and support your accounting department and management. We help put the accounting policy into practice, train the people keeping the books, and advise on applying the accounting principles. We make sure the documentation is applied correctly in practice.

Our numbers

Which companies we prepare accounting policies for

We prepare accounting policies for entities required to keep full accounting books. We tailor the document to the specific nature of the business and its accounting rules.

Limited liability companies (sp. z o.o.) and other capital companies

A company's accounting policy sets out the rules for keeping accounting books and recording business transactions. It ensures compliance with the Act and the financial security of the entity.

Companies switching to full accounting

Changing the form of record-keeping means you are required to develop an accounting policy. The document covers the rules for keeping accounting books and the documentation of the accounting system.

Businesses that have exceeded the EUR 2 million revenue limit

Exceeding the revenue limit means you are required to keep full accounting books. The entity's accounting policy sets out the rules for recording transactions and determining the financial result.

Companies preparing for an audit or financial statement review

An accounting policy is essential during an audit and when preparing financial statements. It ensures the reliability of the accounting books and compliance with accounting standards.

What does the accounting policy development process look like?

Developing an accounting policy involves analyzing your business, preparing the documentation of accounting principles, consultations, and implementing the document in your organization.

1

Analysis of your business and accounting processes

We analyze your business transactions, accounting principles, and the way the entity's accounting books are kept.

2

Preparing the documentation of accounting principles

We create documentation of accounting principles in line with the Act and accounting standards.

3

Consultation and tailoring to your business

We tailor your company's accounting policy to the specific nature of your business, cost structure, and operating model.

4

Implementing the document in your organization

We support the implementation of the accounting policy and its practical application by the people keeping the books.

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With support from Evotax specialists, developing an accounting policy is hassle-free!

Benefits of a professionally developed accounting policy

A professionally prepared accounting policy ensures regulatory compliance, orderly accounting books, and the financial security of the entity.

Tax and accounting security

A compliant accounting policy minimizes the risk of errors, sanctions, and personal liability of the head of the entity.

Consistent bookkeeping

Adopted accounting principles bring order to recording rules and ensure that accounting books are kept consistently.

Better preparation for inspections and audits

An applicable accounting policy makes inspections, audits, and the preparation of financial statements easier.

Your company's financial credibility

Reliable documentation of accounting principles increases your company's financial credibility and business transparency.

How much does accounting policy development cost at Evotax?

See Evotax rates for developing a company accounting policy!

Accounting policy development
14 days
The price of developing an accounting policy depends on the size of the company, the complexity of its business transactions, the number of accounting books, and the scope of the required documentation and implementation.
From PLN 1,500.00
From PLN 1,000.00
+ VAT

Contact us, share the details, and let's set the price of developing an accounting policy for your company!

Why entrust accounting policy development to Evotax specialists?

We combine legal, tax, and accounting expertise to create an accounting policy that complies with regulations and reflects business realities.

Experience in tax and accounting advisory: Many years of practice in tax advisory and accounting guarantee reliable documentation of accounting principles.

Documentation tailored to your business: The accounting policy we prepare is individually tailored to your industry, scale of operations, and operating model.

Support with implementation and updates: We implement the accounting policy and update it when regulations change or your organization grows.

Support and consultations: We offer ongoing consultations for your accounting team and management on applying the adopted accounting principles.

Accounting Policy Development - Frequently Asked Questions

Does an accounting policy need to be updated?

Yes, an accounting policy needs regular updates whenever the Act, accounting standards, or the way the entity keeps its accounts change. Updates are triggered by, among other things, changes to the accounting system, business expansion, and new rules for recording transactions. The applicable accounting policy should always reflect how the accounting books are actually kept.

Can I use a ready-made accounting policy template?

Accounting policy templates can be a starting point, but a ready-made template rarely reflects the specific nature of a business and the accounting principles adopted by a given entity. A company's accounting policy should be tailored to the type of business transactions, the rules for keeping accounting books, and the data processing system used. An improperly prepared accounting policy may be challenged during an inspection or audit.

Who is responsible for the accounting policy in a company?

The head of the entity is responsible for the adopted accounting policy, regardless of whether accounting is handled in-house or by an accounting firm. This responsibility covers the compliance of the accounting principles documentation with the Act and the proper keeping of the entity's accounting books. The head of the entity approves the document and oversees its application in the organization.

Is an accounting policy needed when setting up a company?

Yes, an accounting policy should be developed at the start of operations if the company is required to keep full accounting books. The obligation to prepare an accounting policy applies, among others, to capital companies and entities keeping accounting books under the Act. The accounting policy sets out the accounting principles, the list of accounting books, and the rules for recording business transactions.