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  • CEE Region

    • Are you planning business expansion beyond Poland?

      Choose KR Group - one professional service provider in the CEE region. Our offices are in: The Czech Republic, Romania, Hungary, and Slovakia. Instead of multiplying costs by having one provider per country, collaborate with us! We will help you unleash regional synergy by reducing unnecessary costs and speeding up processes.

  • Czech Republic

    • Czech Republic

      Since 2017, our team supports entrepreneurs in the scope of accounting, payroll and HR, and tax advice. We will help you utilize the potential of the Czech market and expedite your company’s expansion.

  • Romania

    • Romania

      Since 2016, we support our clients by offering payroll-HR services, accounting, tax advice, and tax compliance. We will support your company in entering the Romanian market, and in growing your existing business.

  • Slovakia

    • Slovakia

      Through cooperation with proven suppliers of accounting services, VAT compliance, as well as tax advice, we support companies in expanding their business activity in the Central and Eastern European region.

  • Hungary

    • Hungary

      Thanks to one of the most open European economies, entrepreneurs may count on a favorable place to invest. Since 2016, we support companies in the scope of accounting, tax advice, as well as payroll and HR.

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Consolidated Financial Statement

Entrust KR Group with the preparation of your financial statements

Consolidated Financial Statement

At the end of each fiscal year, companies are obliged to prepare a financial statement - a document which provides an overview of the company’s annual financial activities. Businesses required to keep accounting books under the Accounting Act, or those which have chosen to do so voluntarily, must prepare a financial statement. A group of companies (entities) with capital ties must prepare a consolidated financial statement for the capital group.

The consolidated financial statement is prepared at the level of the parent entity, i.e., the entity that exercises control over other entities in the group (subsidiaries and jointly controlled entities). This statement includes the financial data and operational results of all entities within the capital group, treating them as a single entity.

What does a Consolidated Financial Statement consist of?

In accordance with the Accounting Act, the consolidated financial statement comprises of:

  • a consolidated balance sheet
  • a consolidated income statement
  • a consolidated cash flow statement
  • a consolidated statement of changes in equity (fund)
  • supplementary information, including an introduction to the consolidated financial statement and additional notes and explanations.

The goal of the consolidated financial statement is to present the data of all companies within the capital group as if they were a single entity. It is essential to present the companies’ assets and results while also eliminating all intercompany transactions. Though it may sound straightforward in theory, in practice, preparing a consolidated financial statement requires more complex procedures.

Janusz Karnicki
Accounting Director
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Our Support

  1. Preparation of a consolidation template with accompanying notes and consolidation adjustments.
  2. Consolidation preparation for the fiscal year under Polish Accounting Standards or IFRS.
  3. Preparation of the consolidated financial statement with notes and a descriptive section.
  4. Preparation of a report on the group’s activity.
  5. Verification of consistent valuation principles.

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Pursuant to the Personal Data Protection Act of 29 August 1997 (Journal of Laws Dz.U. 2016 item 922, as amended), I consent to receive commercial and marketing information from KR Group sp. z o.o. sp. k. with its registered office at ul. Skaryszewska 7, 03-802 Warsaw, and to introduction into the database and processing by KR Group sp. z o.o. sp. k. of my personal data provided in this form. I also acknowledge that my consent is voluntary and that I have the right to review, correct or remove my data.

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Pursuant to the Personal Data Protection Act of 29 August 1997 (Journal of Laws Dz.U. 2016 item 922, as amended), I consent to receive commercial and marketing information from KR Group sp. z o.o. sp. k. with its registered office at ul. Skaryszewska 7, 03-802 Warsaw, and to introduction into the database and processing by KR Group sp. z o.o. sp. k. of my personal data provided in this form. I also acknowledge that my consent is voluntary and that I have the right to review, correct or remove my data.

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