Přehled o publikaci

Public sector accounting is of fundamental importance for the presentation of redistributed funds from the state budget. Since 2010, it has been based on an accrual basis in the Czech Republic. The presented book provides insights into the budgetary rules that regulate the use of public resources by selected accounting entities. They are based on accounting rules set out in law, implementing regulations and Czech accounting standards. The International Public Sector Accounting Standards Board (IPSASB) has created international rules, but they are not mandatory. Harmonization within the EU is very complex due to the different management structures of individual member states. Accounting units in the public sector prepare a balance sheet, a profit and loss statement, and if they exceed the specified limits, then also a cash flow and an overview of changes in equity. Accounting differs in many ways from entrepreneurs, because surplus value is not created in the public sector. Acquired resources are reported in cash funds. This means that the funds have money tied up in bank accounts for a specific purpose. When dealing with the relevant fund, the balance of money in the account is also adjusted. The economic result, if it is to be a profit, is created in a secondary, economic activity. The main activity is focused on services, as these are organizational units of the state (e.g. ministries), territorial self-governing units (e.g. cities and municipalities) or contributory organizations (hospitals, schools, prisons). The book contains methods of valuing assets, including the use of fair value when selling assets. In the event of a permanent decrease in the value of assets, depreciation is carried out. Temporary decreases in the value of assets are reflected in adjustments. Legal regulations regulate accounting methods, detailed and mandatory accounting procedures are in Czech accounting standards. Accounting methodology is strictly regulated by the state. This is because the Central State Accounting System has been created in the Czech Republic. Selected accounting units send financial statements and other required accounting information to it on a quarterly basis. Consolidated financial statements are prepared for the Czech Republic. These are a summary statement of state assets and liabilities, a summary statement of state costs and revenues, and a statement of cash flows. At the same time, an appendix is created to the aforementioned financial statements (Note in the financial statements). Separate financial statements are approved and published. Selected accounting entities are not required to have their financial statements audited. However, these entities are subject to a financial review. This is carried out either by a superior body or by a statutory auditor or audit firm.