Title: The Application of International Financial Reporting Standardsinto Corporations in the Czech Republic
Abstract: After the accession to the European Union is a fundamental
change in the reporting of all Czech companies that are issuers
of securities listed on a regulated securities market in the
European Union. To build non-consolidated and consolidated
financial statements which were published in 2005, must be used
instead of Czech accounting standards, International Financial
Reporting Standards, as well as IFRS. The preparation of
financial statements in accordance with IFRS is governed by
very different rules than those used in accordance with
national legislation. IFRS sets out requirements for what and
how to report, national legislation addressing what and how to
charge. IFRS does not contain a detailed accounting practices,
is crucial true and fair view. The research accounts compiled
in accordance with IFRS that the preparers of financial
statements should focus on issues related to the comparability
of financial statements with the correct application.
Publication Year: 2009
Publication Date: 2009-01-01
Language: en
Type: article
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