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.
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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
Original language English
Type of outcome Proceedings paper
Field of Study 50200 5.2 Economics and Business
Country of publisher Austria
Confidentiality degree is not subject to a state or trade secret
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)
Tags AR 2013-2014, D2, II, RIV_ne, SCOPUS, WOS, xD1
Tags International impact, Reviewed
Changed by Changed by: Ing. Dominika Moravcová, učo 21787. Changed: 24/3/2017 13:03.
Abstract
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.
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