Podrobný výpis o publikaci

The International harmonisation strategy in the area of accounting legislation in member states of the European Union. Trust in financial markets plays a significant role in the decision making of all entities involved, and accounting should provide reliable data, which are a basis for such decision making. The current valid legislation in the Czech Republic requires that those accounting units that issue securities registered at the regulated security market in the member states of the European Union apply the set of the IFRS standards. Thus, the obligation to report in such a way only applies to the above-mentioned companies. In spite of this fact the number of companies that compile their financial statements in compliance with the IFRS voluntarily is increasing. Due to this so-called double reporting there are differences between the financial statements prepared in compliance with the IFRS and those prepared in compliance with the Czech accounting legislation. Showing of assets and liabilities and their valuation that are used in a different way in the IFRS, this all brings a completely different picture of a company. A consequence of this may be a different asset structure, structure of liabilities and financial situation, as well as the fair market value of a company, which may appear to be very different taking these two points of view.