IDEAS home Printed from https://ideas.repec.org/a/prg/jnlefa/v2010y2010i1id45p64-77.html
   My bibliography  Save this article

Progression of Financial Reporting in Czech Republic and its Regulation

Author

Listed:
  • Jana Ištvánfyová
  • Ladislav Mejzlík
  • Jiří Pelák

Abstract

The development of a national accounting framework presents unique issues. A strong accounting system needs sufficient time to evolve. The influence of IFRS and of existing tax objectives of Czech accounting system increase the complexity and costs of implementing and monitoring the accounting rules. Given the short time between abandoning an economy based on public ownership and joining the European Union, Czech Republic made significant progress in development of its accounting regulation. The article addresses implementation of IFRS in the Czech Republic and describes the structure of accounting and auditing regulation which can be divided into four levels according to the reporting requirements set by the legislation. Major unsolved issues in the Czech national accounting system remain, including incomparability of Czech Accounting Standards and IFRS.

Suggested Citation

  • Jana Ištvánfyová & Ladislav Mejzlík & Jiří Pelák, 2010. "Progression of Financial Reporting in Czech Republic and its Regulation," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2010(1), pages 64-77.
    • Handle: RePEc:prg:jnlefa:v:2010:y:2010:i:1:id:45:p:64-77
    DOI: 10.18267/j.efaj.45
    as

    Download full text from publisher

    File URL: http://efaj.vse.cz/doi/10.18267/j.efaj.45.html
    Download Restriction: free of charge
    File URL: http://efaj.vse.cz/doi/10.18267/j.efaj.45.pdf
    Download Restriction: free of charge
    File URL: https://libkey.io/10.18267/j.efaj.45?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Leoš Vítek, 2013. "Corporate Income Taxation and the Corporate Tax Base in the Czech Republic [Zdanění firem a jejich daňový základ v České republice]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2013(2), pages 38-49.
    2. Jana Skálová & Marcela Žárová, 2013. "Czech National Accounting Board [Národní účetní rada a její vliv na české účetnictví]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2013(3), pages 6-19.
    3. David Čevela, 2016. "Quality of Information Disclosed in Annual Reports of Listed Companies in the Czech Republic," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2016(2), pages 21-36.

    More about this item

    Keywords

    Development of Czech Accounting; Implementation of IFRS into Czech Accounting Regulation; International Financial Reporting Standards (IFRS); Joining the European Union; Underdevelopment of accounting;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prg:jnlefa:v:2010:y:2010:i:1:id:45:p:64-77. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Stanislav Vojir (email available below). General contact details of provider: https://edirc.repec.org/data/uevsecz.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.