INPROFORUM Junior 2010

Current Developments in Accounting
Radana Fichnová

Language: cs
Last modified: 2013-07-31

Abstract


The article post information on current developments in accounting, describing the proposed amendments to the Law on Accounting and the Law on Transformation, assess their implications and points to the sanctions, which could otherwise not incorporated in the event of changes to the legislation of the Czech Republic. Reform Act provides economic and financial impact on the business environment in the form of savings on selected units and a potential competitive advantage over less flexible local adjustments in other EU Member States.


Keywords


accounting Act, the Law on Transformation, Inventory Order, the consolidated financial statements, foreign natural person, the penalty for the infringement, international accounting standards

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