The CBA analysis of IFRS implementation in the Czech Republic

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F19%3A39914707" target="_blank" >RIV/00216275:25410/19:39914707 - isvavai.cz</a>

Výsledek na webu

<a href="https://is.muni.cz/do/econ/sborniky/2019/Proceedings_final.pdf" target="_blank" >https://is.muni.cz/do/econ/sborniky/2019/Proceedings_final.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The CBA analysis of IFRS implementation in the Czech Republic

Popis výsledku v původním jazyce

As part of the ongoing harmonization of accounting system there is an increasing tendency to keep the accounts under IAS/IFRS. Consequently, a research in companies following the IAS/IFRS has been conducted. The aim of the research was to identify information, financial and time demands and also the benefits of the IAS/IFRS implementation. It was found that more companies use the services of an external consultant than an internal employee. Businesses normally do not share their knowledge. The costs of the implementation process are most often up to 100 thousand Euros, but most businesses acknowledged additional unquantified costs. The duration of the implementation process was to one year. There are different views of the respondents on the level of individual standards. Most respondents admitted making mistakes in the first years of the implementation, but these were rather minor flaws. Regarding the perceived benefits, the majority of respondents agreed that the IAS/IFRS enable good comparability. However, when it comes to their brand and financial statements, they stated that for the company’s reputation the brand was more important than financial statements. It was found, however, that the majority of businesses have not experienced a reduction in the cost of capital.

Název v anglickém jazyce

The CBA analysis of IFRS implementation in the Czech Republic

Popis výsledku anglicky

As part of the ongoing harmonization of accounting system there is an increasing tendency to keep the accounts under IAS/IFRS. Consequently, a research in companies following the IAS/IFRS has been conducted. The aim of the research was to identify information, financial and time demands and also the benefits of the IAS/IFRS implementation. It was found that more companies use the services of an external consultant than an internal employee. Businesses normally do not share their knowledge. The costs of the implementation process are most often up to 100 thousand Euros, but most businesses acknowledged additional unquantified costs. The duration of the implementation process was to one year. There are different views of the respondents on the level of individual standards. Most respondents admitted making mistakes in the first years of the implementation, but these were rather minor flaws. Regarding the perceived benefits, the majority of respondents agreed that the IAS/IFRS enable good comparability. However, when it comes to their brand and financial statements, they stated that for the company’s reputation the brand was more important than financial statements. It was found, however, that the majority of businesses have not experienced a reduction in the cost of capital.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50206 - Finance

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2019

Kód důvěrnosti údajů

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

Název statě ve sborníku

European Financial Systems 2019 : Proceedings of the 16th International Scientific Conference

ISBN

978-80-210-9338-6

ISSN

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e-ISSN

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Počet stran výsledku

9

Strana od-do

163-171

Název nakladatele

Masarykova univerzita

Místo vydání

Brno

Místo konání akce

Brno

Datum konání akce

24. 6. 2019

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000503222600019