Publication details

Nehmotná aktiva. Pozemky, budovy, zařízení. Leasingy. Investice do nemovitostí.

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Title in English Intangible Assets. Property, Plant and Equipment. Leases. Investment Property.


Year of publication 2012
Type Chapter of a book
MU Faculty or unit

Faculty of Economics and Administration

Description New information technologies, development of international economic collaboration and market interconnection call for the need of multinational, globally applicable and acknowledged financial reporting standards. These requirements are met e.g. by International Financing Reporting Standards (IFRS) used mainly in Europe. The information disclosed according to full IFRS standards is sometimes too superfluous for users of SMEs financial statements and very often the cost of its full consistence exceeds its contributions. Another problem, which is specific for the Czech Republic is that the national legislation does not allow calculation of the income tax base from the statements prepared according to IFRS standards and thus the companies also have to prepare the statements according to Czech legislation in parallel, which represents a tremendous administrative burden. It has been proved that upon the income tax base calculation companies have to adapt their accounting result with influences following from the differences between IFRS and the Czech accounting legislation. Financial analyses indicators calculated from the financial statements according to IFRS and according to the Czech accounting legislation are different as well. It can be also said that majority of SMEs in the Czech Republic do not report according to IFRS and they are not prepared to report according to IFRS. Eventual legislative provisions of the obligation to report under IFRS for SMEs should be thus preceded mainly by measures reducing administrative burden.
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