Challenges and opportunities represented by shift to IFRS in the Czech Republic

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F10%3A63509872" target="_blank" >RIV/70883521:28120/10:63509872 - 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
Challenges and opportunities represented by shift to IFRS in the Czech Republic
Original language description
In the Czech Republic usage of International Financial Reporting Standards (IFRS) is limited. Only listed entities are required to prepare its consolidated financial statements in line with IFRS. Other entities if they want to prepare their financial statements under IFRS they have to prepare them in addition to financial statements under CZ GAAP which are mandatory for statutory purposes. Due to this fact and to the fact that Czech Companies do not see the opportunities that IFRS can bring them are IFRS financial statements used very rare (in 2009 it was prepared only by 6 % of Czech Companies). In this paper we focus on the challenges and opportunities represented by shift to IFRS in the Czech Republic and the possible adoption or convergence plans and their impact on the Czech companies.
Czech name
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Czech description
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Project
<a href="/en/project/GA402%2F09%2F0225" target="_blank" >GA402/09/0225: IAS/IFRS Usage in Small and Medium-sized Enterprises and its Influence on Performance Measurement</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2010
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the WSEAS International Conference
ISBN
978-960-474-242-4
ISSN
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e-ISSN
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Number of pages
9
Pages from-to
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Publisher name
West University of Timisoara
Place of publication
Timisoara
Event location
Timisoara
Event date
Jan 1, 2010
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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