ACCOUNTING FOR OWN PRODUCTION-DEFINING THE NEGATIVES OF CURRENT CZECH METHODOLOGY

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F75081431%3A_____%2F23%3A00002582" target="_blank" >RIV/75081431:_____/23:00002582 - isvavai.cz</a>

Result on the web

<a href="https://www.magnanimitas.cz/ADALTA/1301/papers/A_kabourkova.pdf" target="_blank" >https://www.magnanimitas.cz/ADALTA/1301/papers/A_kabourkova.pdf</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

ACCOUNTING FOR OWN PRODUCTION-DEFINING THE NEGATIVES OF CURRENT CZECH METHODOLOGY

Original language description

The paper deals with the analysis of the current methodology of manufacturing accounting in accordance with the Czech accounting standards. For the purposes of the paper, the method of process analysis is used. The paper defines the negatives of accounting procedures that have been used since 2016 and compares the current accounting procedures with the procedures used before 2016. It has been found that the current methodology according to the Czech accounting standards is in conflict with the Act No. 563/1991 Coll., on accounting. According to the former procedures, increase or decrease in manufacturing inventory were accounted for with the accounts in Class 6 - Revenue. Under the current rules, changes in manufacturing inventory are accounted for in the accounts in Class 5 - Costs. This significantly distorts the total value of costs and revenues. The financial statements prepared on the basis of such documents thus do not provide a true and fair view of the subject atter of the accounts, as required by Act No. 563/1991 Coll., on accounting. There is a conflict between the rules laid down by the Czech Accounting standards for manufacturing accounting and the requirements for financial statements under the Act No. 563/1991 Coll., on accounting.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50200 - Economics and Business

Project

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Continuities

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Publication year

2023

Confidentiality

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

Name of the periodical

Ad Alta - Journal of Interdisciplinary Research

ISSN

1804-7890

e-ISSN

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Volume of the periodical

13

Issue of the periodical within the volume

1

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

5

Pages from-to

135-139

UT code for WoS article

001027245000023

EID of the result in the Scopus database

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