Application Possibilities and Consequences of Biological Assets and Agricultural Produce Reporting in Accordance with IFRS Principles in the Czech Republic

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60460709%3A41110%2F13%3A61517" target="_blank" >RIV/60460709:41110/13:61517 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/49777513:23510/13:43920264 RIV/60460709:41110/13:#0000084

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Application Possibilities and Consequences of Biological Assets and Agricultural Produce Reporting in Accordance with IFRS Principles in the Czech Republic

Popis výsledku v původním jazyce

The Czech national law regulating accounting is not harmonized with International Financial Reporting Standards (IFRS). Because of this, all financial statements compiled according to Czech regulations are not comparable with IFRS statements. International users of accounting information, e.g. potential investors, therefore have problems to find valid information. This article analyzes the evaluation, accounting recording, and reporting of biological assets and agricultural produce in both accounting systems. It illustrates the principal differences, and explains their impact on financial statements information. Based on a case study, the paper recommends how to implement IFRS principles to the accounting system in Czech agriculture enterprises. The authors recommend to use income statements with expenses by function, which is not commonly used by Czech entities. The research findings indicate possible changes in the Czech accounting and tax laws, which may lead to a ?more true and fai

Název v anglickém jazyce

Application Possibilities and Consequences of Biological Assets and Agricultural Produce Reporting in Accordance with IFRS Principles in the Czech Republic

Popis výsledku anglicky

The Czech national law regulating accounting is not harmonized with International Financial Reporting Standards (IFRS). Because of this, all financial statements compiled according to Czech regulations are not comparable with IFRS statements. International users of accounting information, e.g. potential investors, therefore have problems to find valid information. This article analyzes the evaluation, accounting recording, and reporting of biological assets and agricultural produce in both accounting systems. It illustrates the principal differences, and explains their impact on financial statements information. Based on a case study, the paper recommends how to implement IFRS principles to the accounting system in Czech agriculture enterprises. The authors recommend to use income statements with expenses by function, which is not commonly used by Czech entities. The research findings indicate possible changes in the Czech accounting and tax laws, which may lead to a ?more true and fai

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AE - Řízení, správa a administrativa

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2013

Kód důvěrnosti údajů

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

Název periodika

AGRIS on-line Papers in Economics and Informatics

ISSN

1804-1930

e-ISSN

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Svazek periodika

V

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

13

Strana od-do

77-89

Kód UT WoS článku

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EID výsledku v databázi Scopus

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