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Entrepreneur's Compass
Entrepreneur’s Compass graphic with a person taking notes – title illustration for an article on accounting aspects of establishing a limited liability company in Poland
Anna Włodarczyk

Accounting Aspects of Establishing a Limited Liability Company in Poland

Establishing a limited liability company in Poland involves a number of decisions that have a direct impact on the subsequent management of accounting records and tax settlements. From a practical accounting perspective, it is worth emphasizing that many issues arising in the first years of a company’s operations are not the result of poor business decisions, but rather of insufficient preparation for the accounting obligations imposed by this legal form.

Zarząd firmy analizujący dane finansowe przed zatwierdzeniem sprawozdania finansowego
Anna Włodarczyk

What Are the Consequences of Not Approving Financial Statements

Approving annual financial statements is one of the key obligations for entities subject to the Polish Accounting Act. Under Article 53(1) of the Act, annual financial statements must be approved no later than six months after the balance sheet date — which, in most cases, means by 30 June.