The CBA analysis of IFRS implementation in the Czech Republic

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F19%3A39914707" target="_blank" >RIV/00216275:25410/19:39914707 - isvavai.cz</a>
Result on the web
<a href="https://is.muni.cz/do/econ/sborniky/2019/Proceedings_final.pdf" target="_blank" >https://is.muni.cz/do/econ/sborniky/2019/Proceedings_final.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
The CBA analysis of IFRS implementation in the Czech Republic
Original language description
As part of the ongoing harmonization of accounting system there is an increasing tendency to keep the accounts under IAS/IFRS. Consequently, a research in companies following the IAS/IFRS has been conducted. The aim of the research was to identify information, financial and time demands and also the benefits of the IAS/IFRS implementation. It was found that more companies use the services of an external consultant than an internal employee. Businesses normally do not share their knowledge. The costs of the implementation process are most often up to 100 thousand Euros, but most businesses acknowledged additional unquantified costs. The duration of the implementation process was to one year. There are different views of the respondents on the level of individual standards. Most respondents admitted making mistakes in the first years of the implementation, but these were rather minor flaws. Regarding the perceived benefits, the majority of respondents agreed that the IAS/IFRS enable good comparability. However, when it comes to their brand and financial statements, they stated that for the company’s reputation the brand was more important than financial statements. It was found, however, that the majority of businesses have not experienced a reduction in the cost of capital.
Czech name
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Czech description
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
European Financial Systems 2019 : Proceedings of the 16th International Scientific Conference
ISBN
978-80-210-9338-6
ISSN
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e-ISSN
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Number of pages
9
Pages from-to
163-171
Publisher name
Masarykova univerzita
Place of publication
Brno
Event location
Brno
Event date
Jun 24, 2019
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000503222600019

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