The impact of changes in accounting regulations on agricultural entities and their business accounts since 2016

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F17%3A43911350" target="_blank" >RIV/62156489:43110/17:43911350 - isvavai.cz</a>

Result on the web

<a href="https://doi.org/10.11118/actaun201765020689" target="_blank" >https://doi.org/10.11118/actaun201765020689</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.11118/actaun201765020689" target="_blank" >10.11118/actaun201765020689</a>

Result language

angličtina

Original language name

The impact of changes in accounting regulations on agricultural entities and their business accounts since 2016

Original language description

Financial accounting in the European Union is harmonized through directives. In 2013 Directive 2013/34/EU of the European Parliament and the Council was issued. It aims to improve the performance of micro and small entities by reducing their administrative burden. The primary requirement of the Directive is to introduce entity size classification. The paper identifies the impact of the transposition of the Directive on the size distribution of agricultural enterprises in the V4 countries and some other countries of the European Union using data from the Amadeus database. In the Czech Republic obligations which are part of financial reporting are determined for agricultural enterprises and their impact on fundamental accounting principles is detected. The implementation of the Directive in the Czech Republic significantly influenced valuation, accounting for and specially reporting of inventories of a company&apos;s own activity and capitalization, which are typical for agricultural enterprises. A comparison of the regulation effective until the end of 2015 with the new regulation showed the impact on the amount of profit and turnover, which are also quantified. The degree of harmonization with IAS/IFRS is also examined.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50205 - Accounting

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2017

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis

ISSN

1211-8516

e-ISSN

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Volume of the periodical

65

Issue of the periodical within the volume

2

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

9

Pages from-to

689-697

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-85018379792