Process of Implementation of International Financial Standards (IFRS)
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F18%3A39913365" target="_blank" >RIV/00216275:25410/18:39913365 - isvavai.cz</a>
Výsledek na webu
<a href="https://uni.uhk.cz/hed/site/assets/files/1072/proceedings_2018_1.pdf" target="_blank" >https://uni.uhk.cz/hed/site/assets/files/1072/proceedings_2018_1.pdf</a>
DOI - Digital Object Identifier
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Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Process of Implementation of International Financial Standards (IFRS)
Popis výsledku v původním jazyce
This paper is concerned with the implementation of International Financial Reporting Standards (IFRS) in the Czech Republic. It was written as a reaction to constantly increasing number of businesses implementing IFRS. In order to ascertain the methods selected by such companies for IFRS implementation, I carried out my own research based on semi-structured interviews. The aim of this research was to determine the individual stages of implementation, which would be helpful for business anticipating IFRS implementation. Generalization of the individual interviews revealed that the process of IFRS implementation may be divided into four stages: project preparation, opening stage, trial operation and adaptation operation. The most important thing in the initial stage is to create a project plan. The opening stage contains preparation of the areas affected by the implementation and the changes in the information system; the output of this stage consists in draft statements or a financial statement. In the third stage, trial operation is launched and tested and errors are eliminated; the result is an opening balance sheet. The final stage of adaptation operation includes inspection, evaluation and corrections of possible errors. IAS/IFRS implementation is a multi-stage process, which is time-consuming and demanding in terms of qualified staff and funds.
Název v anglickém jazyce
Process of Implementation of International Financial Standards (IFRS)
Popis výsledku anglicky
This paper is concerned with the implementation of International Financial Reporting Standards (IFRS) in the Czech Republic. It was written as a reaction to constantly increasing number of businesses implementing IFRS. In order to ascertain the methods selected by such companies for IFRS implementation, I carried out my own research based on semi-structured interviews. The aim of this research was to determine the individual stages of implementation, which would be helpful for business anticipating IFRS implementation. Generalization of the individual interviews revealed that the process of IFRS implementation may be divided into four stages: project preparation, opening stage, trial operation and adaptation operation. The most important thing in the initial stage is to create a project plan. The opening stage contains preparation of the areas affected by the implementation and the changes in the information system; the output of this stage consists in draft statements or a financial statement. In the third stage, trial operation is launched and tested and errors are eliminated; the result is an opening balance sheet. The final stage of adaptation operation includes inspection, evaluation and corrections of possible errors. IAS/IFRS implementation is a multi-stage process, which is time-consuming and demanding in terms of qualified staff and funds.
Klasifikace
Druh
D - Stať ve sborníku
CEP obor
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OECD FORD obor
50205 - Accounting
Návaznosti výsledku
Projekt
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Návaznosti
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Ostatní
Rok uplatnění
2018
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název statě ve sborníku
Hradec Economic Days 2018. Part 1
ISBN
978-80-7435-700-8
ISSN
2464-6059
e-ISSN
2464-6067
Počet stran výsledku
9
Strana od-do
319-327
Název nakladatele
Univerzita Hradec Králové
Místo vydání
Hradec Králové
Místo konání akce
Hradec Kralove
Datum konání akce
30. 1. 2018
Typ akce podle státní příslušnosti
WRD - Celosvětová akce
Kód UT WoS článku
000449443500031