The IFRS as Tax Base: Potential Impact on a Small Open Economy

Procházka, David Anthony

doi:10.18267/j.efaj.130

Cited by 9 publications

(4 citation statements)

References 14 publications

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“…Interesting findings follow from the response that 28 and 22 per cent of respondents connect IFRS reporting with better use of internal data for in-house managerial accounting and internal reporting respectively. This aspect has been already discussed by (Prochazka, 2014;Zarova et al, 2014). A very low number of respondents perceived the importance of IFRS for easier access to bank loans (3 per cent).…”

Section: Methodssupporting

confidence: 52%

Comparability and Reliability of Financial Information in the Sector of Czech SMES (ten years of IFRS as a part of Czech accounting context)

Kubíčková¹,

Jindřichovská²

2016

ERSJ

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The aim of this article is to analyse the form and extent of IFRS adoption in the Czech accounting and the main reasons of the lack of interest in IFRS reporting with a special attention to the segment of SMEs. This research is based on the qualitative analysis of present accounting regulation and on results of questionnaire survey of 260 Czech SMEs. As the main causes of the lack of interest in IFRS usage are the specific features of economic conditions, resulting in imbalances between the costs and benefits of practical implementation of IFRS and the lack of interest to report in accordance with IFRS on the side of business partners.

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Section: Methodssupporting

confidence: 52%

Comparability and Reliability of Financial Information in the Sector of Czech SMES (ten years of IFRS as a part of Czech accounting context)

Kubíčková¹,

Jindřichovská²

2016

ERSJ

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“…Základní soubor byl ještě rozšířen o tři společnosti, které byly dříve zveřejněny na oficiálním seznamu emitentů cenných papírů České národní banky a v současnosti již nejsou emitenty veřejně obchodovatelných cenných papírů, přesto ale pokračují ve vykazování na základě IFRS, a dále o dvě společnosti aplikující dobrovolně IFRS dohledané z jiných informačních zdrojů [Procházka, 2014b;Vojáčková, 2015]. Některé podniky byly odvozeny od mateřských nebo dceřiných společností v případě firem dobrovolně užíva-jících IFRS při vykazování.…”

Section: Proces Tvorby a Stručný Popis Základního Souboruunclassified

The Significance of Reporting Employee Benefits in Accordance with IFRS in the Czech Business Practice

Vimrová¹

2016

AOP

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The Significance of Reporting Employee Benefits in Accordance with IFRS in the Czech Business PracticeThe aim of the research the results of which are presented in this paper, based on an empirical survey of forty financial statements using IFRS by non-financial companies active in the Czech business environment, is to map the process and scope of reporting of employee benefits by Czech companies applying IFRS in the preparation of their consolidated and individual financial statements and to find out the differences in the extent, detail and relevancy of reporting employee benefits in accordance with IFRS among companies whose securities are publicly traded and other companies as well as to measure the differences in the scope, detail and relevancy of reporting employee benefits in accordance with IFRS among companies which are considered the best employers in the Czech Republic and other companies, including the interpretation of results.Keywords: international financial reporting standards, IAS 19, employee benefits JEL classification: M41 ÚvodPřesné, transparentní, úplné, srovnatelné, věrné a pravdivé, dostatečně relevantní a veřejně dostupné vykazování zaměstnaneckých benefitů v rámci systému finančního účetnic-tví realizovaného v souladu s požadavky mezinárodních standardů účetního výkaznic-tví (IFRS -International Financial Reporting Standards) uspokojuje informační potřeby mnoha uživatelů tak, aby mohli učinit relevantní ekonomická rozhodnutí.Informace z účetních závěrek pomáhají managementu definovat významnost zaměst-nanců jako skupiny stakeholderů, slouží k jejich klasifikaci, posouzení kvality vztahů podniku s nimi, k měření prospěchu, který zaměstnanci přinášejí firmě a zároveň přínosu firmy pro zaměstnance, zprostředkovávají také další formu komunikace se zaměstnanci a nakonec jsou uplatněny při formulaci strategie v rámci strategického řízení podniku.1 Článek byl zpracován s využitím prostředků institucionální podpory na dlouhodobý koncepční rozvoj vědy a výzkumu na FFÚ VŠE IP 100040.

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“…To calculate the tax basis we proceed from the management results found in accounting without the influence of the international accounting standards 10 . This fact forces the enterprises to manage two accounting systems in case that they are for some reason obliged to assemble the financial statements according to the IFRS (Procházka, 2014).…”

Section: The Czech Republicmentioning

confidence: 99%

How International Financial Reporting Standards (IFRS) Improve the Financing of SME’s in the Czech Republic

Korbelova¹

2016

IJEBA

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The accountancy management inline with the IFRS provides quality and trustworthy information for financial statement users and provides the comparison with similar companies at international level. The importance of creating the closing financial statements inline with the IFRS grows with the development of cross-border trade, cooperation and competition within the business environment where the prevailing economical element are the small and medium sized enterprises (SME). The support of SME and their bussiness activities at the national and international market is the target of national politics and politics of the EU. To help the international comparison the IFRS for SME and many other programs were created to support the SME funding within the EU. The Czech Republic doesn't allow to assemble and public the closing financial statement inline with the IFRS. The access to the funds is therefore complicated, the economic indicators show different values when assembling the closing financial statement inline with the IFRS or inline with Czech accounting standards (CAS). The seven SMEs out of different bussiness sectors focusing on cross-border trade are illustrative of the current situation in the Czech Republic.

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The IFRS as Tax Base: Potential Impact on a Small Open Economy

Cited by 9 publications

References 14 publications

Comparability and Reliability of Financial Information in the Sector of Czech SMES (ten years of IFRS as a part of Czech accounting context)

Comparability and Reliability of Financial Information in the Sector of Czech SMES (ten years of IFRS as a part of Czech accounting context)

The Significance of Reporting Employee Benefits in Accordance with IFRS in the Czech Business Practice

How International Financial Reporting Standards (IFRS) Improve the Financing of SME’s in the Czech Republic

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