The Issue of Valuation of Internally Produced Inventory under Czech Accounting Legislation and International Financial Reporting Standards

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F19%3A10242920" target="_blank" >RIV/61989100:27510/19:10242920 - isvavai.cz</a>

Výsledek na webu

<a href="https://ekf.tuke.sk/wps/wcm/connect/ekf.tuke.sk-31373/3b9f0c70-cda8-4a77-92b7-57f90fc87ae8/Trans_02_19.pdf?MOD=AJPERES&CVID=mSRRPQU&CVID=mSRRPQU&CVID=mSRRPQU&CVID=mSRRPQU" target="_blank" >https://ekf.tuke.sk/wps/wcm/connect/ekf.tuke.sk-31373/3b9f0c70-cda8-4a77-92b7-57f90fc87ae8/Trans_02_19.pdf?MOD=AJPERES&CVID=mSRRPQU&CVID=mSRRPQU&CVID=mSRRPQU&CVID=mSRRPQU</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

The Issue of Valuation of Internally Produced Inventory under Czech Accounting Legislation and International Financial Reporting Standards

Popis výsledku v původním jazyce

The paper focuses on the issue of valuation of internally produced inventory under Czech accounting legislation and International Financial Reporting Standards. Accounting harmonization is a process of converging accounting systems of individual countries, which aims to ensure the comparability of financial statements. The International Accounting Standards Committee (IASC) developed the first International Accounting Standards (IAS) in 1973. In 2001, the IASC was replaced by the International Accounting Standards Board (IASB), which continues to issue new and updated standards known as International Financial Reporting Standards (IFRS). These standards are mandatory for all companies from EU member states with publicly traded securities. This requirement was accepted in the Czech Republic by the Act No. 563/1991 Sb., on Accounting, as amended, in which pursuant to Sec. 19 accounting entities that are trading companies and issuers of securities registered in a regulated securities market in the EU member states are required to apply and prepare financial statements under International Accounting Standards governed by European Community law. The membership of the Czech Republic in the European Union brings the obligation to apply the relevant EU directives also in the area of accounting. The paper analyses the changes made by the Act No. 563/1991 Sb., on Accounting, and the Decree No. 500/2002 Sb. concerning the Czech accounting legislation. It was necessary to make these changes to comply with the requirements and obligations of EU member states to transpose the Directive 2013/34/EU.

Název v anglickém jazyce

The Issue of Valuation of Internally Produced Inventory under Czech Accounting Legislation and International Financial Reporting Standards

Popis výsledku anglicky

The paper focuses on the issue of valuation of internally produced inventory under Czech accounting legislation and International Financial Reporting Standards. Accounting harmonization is a process of converging accounting systems of individual countries, which aims to ensure the comparability of financial statements. The International Accounting Standards Committee (IASC) developed the first International Accounting Standards (IAS) in 1973. In 2001, the IASC was replaced by the International Accounting Standards Board (IASB), which continues to issue new and updated standards known as International Financial Reporting Standards (IFRS). These standards are mandatory for all companies from EU member states with publicly traded securities. This requirement was accepted in the Czech Republic by the Act No. 563/1991 Sb., on Accounting, as amended, in which pursuant to Sec. 19 accounting entities that are trading companies and issuers of securities registered in a regulated securities market in the EU member states are required to apply and prepare financial statements under International Accounting Standards governed by European Community law. The membership of the Czech Republic in the European Union brings the obligation to apply the relevant EU directives also in the area of accounting. The paper analyses the changes made by the Act No. 563/1991 Sb., on Accounting, and the Decree No. 500/2002 Sb. concerning the Czech accounting legislation. It was necessary to make these changes to comply with the requirements and obligations of EU member states to transpose the Directive 2013/34/EU.

Druh

J_ost - Ostatní články v recenzovaných periodicích

CEP obor

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OECD FORD obor

50205 - Accounting

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 periodika

Transactions of the Universities of Košice

ISSN

1335-2334

e-ISSN

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Svazek periodika

neuveden

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

SK - Slovenská republika

Počet stran výsledku

5

Strana od-do

22-27

Kód UT WoS článku

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EID výsledku v databázi Scopus

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