CLOSING OF ACTIVITY ENTERED IN THE NATIONAL COURT REGISTER
In the case of a company registered in the National Court Register (KRS) the liquidation process entails the necessity of:
- drawing up of an opening balance sheet of a company
- preparation of the financial statement and
- closure of the accounting books.
One of the first activities of the liquidators of the company is preparing an opening balance sheet of the liquidation. It is a document which shows all the assets of the company according to its value. Pursuant to the Accounting Act, valuation should be made at net sales prices not higher than their acquisition price or production cost. This value is reduced by depreciations. In the opening balance sheet a reserve is cretated from which the company will cover the decommissioning costs and any losses relating to the failure to pursue the activity during the liquidation.
Find out how to prepare the liquidation opening balance sheet in respect of:
- registered partnership,
- professional partnership,
- limited partnership,
- limited joint-stock partnership,
- limited liability company,
- joint-stock company.
Depending on the method of bookkeeping, drawing up of such a report is slightly different.
Find out how to prepare the financial statements on the day of the conclusion of the liquidation of the company, for which bookkeeping was conducted in the form of:Share Print