Approach to Valuation of Assets in Czech Accounting, Comparison
to IFRS and Impacts on Controlling Process of SME´s.

D 2013

Approach to Valuation of Assets in Czech Accounting, Comparison to IFRS and Impacts on Controlling Process of SME´s.

DLASKOVÁ, Gabriela and Karel HAVLÍČEK

Basic information

Original name

Approach to Valuation of Assets in Czech Accounting, Comparison to IFRS and Impacts on Controlling Process of SME´s.

Authors

DLASKOVÁ, Gabriela (203 Czech Republic, belonging to the institution) and Karel HAVLÍČEK (203 Czech Republic, belonging to the institution)

Edition

Linz, Austria, 21st Interdisciplinary Information Management Talks (IDIMT), p. 343-350, 8 pp. 2013

Publisher

Johannes Kepler Universität

Other information

Language

English

Type of outcome

Stať ve sborníku

Field of Study

50200 5.2 Economics and Business

Country of publisher

Austria

Confidentiality degree

není předmětem státního či obchodního tajemství

Publication form

printed version "print"

RIV identification code

RIV/04274644:_____/13:#0000025

Organization unit

University of Finance and Administration

ISBN

978-3-99033-083-8

Keywords in English

The International Financial Reporting Standards (IFRS); Czech accounting standards; accounting standards harmonization; process model of company management; controlling; SMEs (Small and medium sized enterprises)

Abstract

V originále

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.

Citovat

DLASKOVÁ, Gabriela and Karel HAVLÍČEK. Approach to Valuation of Assets in Czech Accounting, Comparison to IFRS and Impacts on Controlling Process of SME´s. In Douček, P., Chroust G., Oškrdal, V (eds). 21st Interdisciplinary Information Management Talks (IDIMT). Linz, Austria: Johannes Kepler Universität, 2013, p. 343-350. ISBN 978-3-99033-083-8.

@inproceedings{4335,
   author = {Dlasková, Gabriela and Havlíček, Karel},
   address = {Linz, Austria},
   booktitle = {21st Interdisciplinary Information Management Talks (IDIMT)},
   editor = {Douček, P., Chroust G., Oškrdal, V (eds).},
   keywords = {The International Financial Reporting Standards (IFRS); Czech accounting standards; accounting standards harmonization; process model of company management; controlling; SMEs (Small and medium sized enterprises)},
   howpublished = {tištěná verze "print"},
   language = {eng},
   location = {Linz, Austria},
   isbn = {978-3-99033-083-8},
   note = {AR 2016/2017 - odesláno do RIV. (duben 2017)},
   pages = {343-350},
   publisher = {Johannes Kepler Universität},
   title = {Approach to Valuation of Assets in Czech Accounting, Comparison to IFRS and Impacts on Controlling Process of SME´s.},
   year = {2013}
}

TY  - JOUR
ID  - 4335
AU  - Dlasková, Gabriela - Havlíček, Karel
PY  - 2013
TI  - Approach to Valuation of Assets in Czech Accounting, Comparison to IFRS and Impacts on Controlling Process of SME´s.
PB  - Johannes Kepler Universität
CY  - Linz, Austria
SN  - 9783990330838
N1  - AR 2016/2017 - odesláno do RIV. (duben 2017)
KW  - The International Financial Reporting Standards (IFRS)
KW  - Czech accounting standards
KW  - accounting standards harmonization
KW  - process model of company management
KW  - controlling
KW  - SMEs (Small and medium sized enterprises)
N2  - 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.
ER  -

DLASKOVÁ, Gabriela and Karel HAVLÍČEK. Approach to Valuation of Assets in Czech Accounting, Comparison to IFRS and Impacts on Controlling Process of SME´s. In Douček, P., Chroust G., Oškrdal, V (eds). \textit{21st Interdisciplinary Information Management Talks (IDIMT)}. Linz, Austria: Johannes Kepler Universität, 2013, p.~343-350. ISBN~978-3-99033-083-8.

Detailed Information on Publication Record