The Reserve Fund - Creation and Use in Contributory Organizations set up by Local Government Units

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The Reserve Fund - Creation and Use in Contributory Organizations set up by Local Government Units

Popis výsledku v původním jazyce

The reserve fund of the contributory organizations combines a source fund (generated from an economic result) and a monetary fund (generated from received gifts and unused balances of operating subsidies granted from the budget of the European union). If an entity wants to ensure a full financial coverage of the reserve fund, the entity should not allocate the profit to the fund, for which there is no certainty of the financial coverage. However, as stated in Act No. 250/2000 Coll., On Budgetary Rules of Territorial Budgets, as amended, in § 30, the reserve fund is formed from the profit of the contributory organization on the basis of an approval of its amount by a founder of the organization after the end of the year, reduced by possibly transfers to the reward fund. The unused balances of the operating subsidies as the source of the reserve fund give rise to further accounting problems. These unused balances are clearly a liability of the contributory organization to the grant provider, however, accounting rules consider them to be the own source. Czech Accounting Standard No. 704 – Funds clearly defines the accounting rules for the creation of the reserve fund on the basis of the unused balances of the operating subsidies, however, these accounting procedures are difficult to apply in practice. This problem is not closer methodically regulated by the Ministry of Finance. In the Czech Republic, therefore, accounting practices are differentiated.

Název v anglickém jazyce

The Reserve Fund - Creation and Use in Contributory Organizations set up by Local Government Units

Popis výsledku anglicky

The reserve fund of the contributory organizations combines a source fund (generated from an economic result) and a monetary fund (generated from received gifts and unused balances of operating subsidies granted from the budget of the European union). If an entity wants to ensure a full financial coverage of the reserve fund, the entity should not allocate the profit to the fund, for which there is no certainty of the financial coverage. However, as stated in Act No. 250/2000 Coll., On Budgetary Rules of Territorial Budgets, as amended, in § 30, the reserve fund is formed from the profit of the contributory organization on the basis of an approval of its amount by a founder of the organization after the end of the year, reduced by possibly transfers to the reward fund. The unused balances of the operating subsidies as the source of the reserve fund give rise to further accounting problems. These unused balances are clearly a liability of the contributory organization to the grant provider, however, accounting rules consider them to be the own source. Czech Accounting Standard No. 704 – Funds clearly defines the accounting rules for the creation of the reserve fund on the basis of the unused balances of the operating subsidies, however, these accounting procedures are difficult to apply in practice. This problem is not closer methodically regulated by the Ministry of Finance. In the Czech Republic, therefore, accounting practices are differentiated.

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

2018

Kód důvěrnosti údajů

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

Název statě ve sborníku

Proceedings of the 12th International Scientific Conference INPROFORUM. Innovations, Enterprises, Regions and Management

ISBN

978-80-7394-726-2

ISSN

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e-ISSN

neuvedeno

Počet stran výsledku

5

Strana od-do

61-65

Název nakladatele

Jihočeská univerzita v Českých Budějovicích, Ekonomická fakulta

Místo vydání

České Budějovice

Místo konání akce

České Budějovice

Datum konání akce

1. 11. 2018

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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