Agricultural activity diff ers from other activities carried out by business units to achieve the profi t. Agricultural activity is in comparison with other activities of business subjects dependent on the natural and environmental conditions, and therefore the agriculture specialization is narrowly connected with geographical position. Th e aim of the paper is to identify the possible obstacles in the practical application of the International Accounting Standard 41 (IAS 41) and to suggest the possible ways of their elimination. Th e comparative analysis of the currently applied rules for agricultural activity reporting and the analysis of the current accounting treatment of agricultural activity under the International Financial Reporting Standards (IFRS) were the starting point of the research. Th is part serves as the basis for own research in which the authors are trying to identify the specifi cs of agricultural production, biological assets and biological transformation. More suitable methods for their recognition, measurement and reporting were suggested as an alternative to the current treatments. At the end, the results are also confronted with contemporary scientifi c literature on that topic, which is not very broad. Th e main reason for the research of the authors in this area is the possible elimination of obstacles in the practical application of the IAS 41.

The valuation of assets is a relatively challenging activity as well as a scientific discipline having an impact on the amount of the reported assets and economic result process. The report deals with the issue of valuation of the tangible fixed assets in the accounting entities compiling the financial statements pursuant to the Czech national legislation and in conformity with the requirements of the International Accounting Standards IAS/IFRS and US GAAP. The substantial differences in the definitions and valuation of the tangible fixed assets in these systems have been determined, indicating the impact on the economy of the accounting entity, both at the primary acquisition and as at the day of the closing of books. Attention has also been paid to the possibilities of recording the value decreases and to subsequent expenses. The analysis of legal regulations was completed with the analysis of the financial statements from selected economic entities. As per the international standards, the main difference consists in the possibility of component depreciation of tangible assets or, on the other hand, the possibility of group depreciation, in the differences in valuation in the event of acquisition paid for and of acquisition by one’s own production and in the possibility to consider the costs of disposal of assets. The subsequent expenses are also construed in a different manner: as per the Czech regulation, they are construed as repairs and maintenance. The substantial difference in comparison with the Czech regulation consists in the possibility of re-valuation of assets upwards as well as the method of actual value determination.

No abstract

BOHUŠOVÁ, H., SVOBODA, P.: Comparability of fi nancial statements prepared according to IFRS and IFRS for SMEs in the fi eld of intangible assets. Acta univ. agric. et silvic. Mendel. Brun., 2010, LVIII, No. 6, pp. 67-78 IFRS for SMEs were adopted in July 2009 as a result of eff orts to harmonize fi nancial reporting for SMEs. These standards are based on the same principles as full standards. The aim is, compared to full IFRS reporting of these businesses, to signifi cantly simplify, mainly from the reason that the strict application of the principles of the full standards does not excessively fi nancially and administratively burden smaller accounting entity. Field of identifying, recording and reporting of intangible assets except goodwill is an important fi eld in which the methodology is substantially diff erent. In the present paper there is documented on the example the impact of diff erent methods for recording of internally generated intangible assets in the both systems into balance sheet and profi t or loss and into the selected indicators of fi nancial analysis. Defi nition of issues that may arise during the transition from the IFRS for SMEs to full IFRS and vice versa, in the context of dra ing the opening balance sheet is another fi eld to which the paper is dedicated.IFRS, SME, intangible fi xed assets, reporting, profi tability Malé a střední podniky tvoří podstatnou část společností působících v členských zemích Evropské unie. V současné době však neexistuje zcela jednotná defi nice malých a středních podniků. Lze se setkat s jejich různým vymezením v jednotlivých zemích a v návaznosti na různé účely. Ve většině pří-padů jsou pro klasifi kaci malých a středních podniků a jejich následné zařazení do skupiny střed-ních, malých a mikropodniků požívána následující kritéria: obrat, bilanční suma a počet zaměstnanců. V tabulce č. I jsou porovnány defi nice používané Světovou bankou a Evropskou komisí.

Category of deferred income tax is a complex topic including the whole accounting system and the income tax. Calculation method can be time-consuming and demanding a high quality system of analytical evidence and a system of valuation and demanding the high level of accountants' knowledge. The aim in the theoretical level was to analyze process of calculation and recording of deferred tax. Importance of recording of deferred tax and the impact on financial analysis ratios was analyzed. Fourteen business entities were examined. Deferred tax recording is a legal way to reduce retained earnings a to protect of its careless alocation.