COMPARISON OF ACCOUNTING FOR PROVISIONS IN ACCORDANCE WITH THE CZECH LEGISLATION, GERMAN LEGISLATION AND IAS/IFRS

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23510%2F17%3A43932080" target="_blank" >RIV/49777513:23510/17:43932080 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
COMPARISON OF ACCOUNTING FOR PROVISIONS IN ACCORDANCE WITH THE CZECH LEGISLATION, GERMAN LEGISLATION AND IAS/IFRS
Original language description
Provisions represent the basic tool for the prudence concept application in the accounting systems. They are used to record future liabilities of uncertain timing and amount and to inform users about the risk of future cash outflows. First part of the article is focused on the description of legal framework of accounting of provisions according to the legislation of the Czech Republic and Germany as well as to compare acquired solutions with International Financial Reporting Standards IAS/IFRS that represent globally recognized and accepted accounting system which, in the context of global harmonization respectively convergence of accounting systems, gradually penetrates into the national accounting regulations. The aim of the article is to identify the differences in accounting of provisions in accordance with the legislation of the Czech Republic, Germany and IAS/IFRS and to determine the effect of these differences on the financial position and performance of businesses and further on true and fair view referred to in the financial statements for their internal or external users. All results will be presented in graphs and tables.
Czech name
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Czech description
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Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Opportunities and Threats to Current Business Management in Cross-border Comparison 2017
ISBN
978-3-86367-051-1
ISSN
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e-ISSN
neuvedeno
Number of pages
10
Pages from-to
45-54
Publisher name
GUC - Verlag der Gesellschaft fur Unternehmensrechnung und Controlling m.b.H.
Place of publication
Chemnitz
Event location
Pilsen
Event date
May 18, 2017
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000426794300005

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