Cryptocurrencies - “Comparison” of Approach by IAS/IFRS and Czech Accounting Legislative

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23510%2F22%3A43966936" target="_blank" >RIV/49777513:23510/22:43966936 - isvavai.cz</a>

Výsledek na webu

<a href="https://uni.uhk.cz/hed/previous-conferences/edition-archive/" target="_blank" >https://uni.uhk.cz/hed/previous-conferences/edition-archive/</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.36689/uhk/hed/2022-01-000" target="_blank" >10.36689/uhk/hed/2022-01-000</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Cryptocurrencies - “Comparison” of Approach by IAS/IFRS and Czech Accounting Legislative

Popis výsledku v původním jazyce

Even if the main focus is currently on the situation surrounding the “Covid-19 pandemic” it seems that cryptocurrencies as the issue are still discussed quite often. This article describes the problems solved taking into account the necessity to record information about business activities associated with cryptocurrencies transfers done by the accounting units with respect to legislative rules covering this issue in the Czech Republic, and in the EU (by IAS/IFRS). Objective of the contribution is to define the means of evaluation, keeping accounting records and classification of cryptocurrencies in the regulatory environment of the Czech Republic, IAS/IFRS and further, based on their comparison, to identify the most significant variations and influence of these variations on reporting the financial situation and performance of enterprises. The authors work with the historically given definitions associated with cryptocurrencies, information about the development of cryptocurrencies and approaches to their use. The contribution identified, using the analyses of data provided by international institutions (IFRS Foundation, Deloitte) and Czech national authorities (Ministry of Finance of the Czech Republic, Czech National Bank), that differences in the reporting of cryptocurrencies significantly affect the ratio of long-term and current assets and the amount of operating or investment cash flow.

Název v anglickém jazyce

Cryptocurrencies - “Comparison” of Approach by IAS/IFRS and Czech Accounting Legislative

Popis výsledku anglicky

Even if the main focus is currently on the situation surrounding the “Covid-19 pandemic” it seems that cryptocurrencies as the issue are still discussed quite often. This article describes the problems solved taking into account the necessity to record information about business activities associated with cryptocurrencies transfers done by the accounting units with respect to legislative rules covering this issue in the Czech Republic, and in the EU (by IAS/IFRS). Objective of the contribution is to define the means of evaluation, keeping accounting records and classification of cryptocurrencies in the regulatory environment of the Czech Republic, IAS/IFRS and further, based on their comparison, to identify the most significant variations and influence of these variations on reporting the financial situation and performance of enterprises. The authors work with the historically given definitions associated with cryptocurrencies, information about the development of cryptocurrencies and approaches to their use. The contribution identified, using the analyses of data provided by international institutions (IFRS Foundation, Deloitte) and Czech national authorities (Ministry of Finance of the Czech Republic, Czech National Bank), that differences in the reporting of cryptocurrencies significantly affect the ratio of long-term and current assets and the amount of operating or investment cash flow.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50205 - Accounting

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2022

Kód důvěrnosti údajů

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

Název statě ve sborníku

Hradec Economic Days Vol. 12(1) proceedings of the international scientific conference Hradec Economic Days 2022

ISBN

978-80-7435-855-5

ISSN

2464-6059

e-ISSN

2464-6067

Počet stran výsledku

10

Strana od-do

158-167

Název nakladatele

University of Hradec Králové

Místo vydání

Hradec Králové

Místo konání akce

Hradec Králové

Datum konání akce

9. 6. 2022

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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