Accounting Interpretation of Cross-border Mergers in the Czech Republic Based on Czech Accounting Standards

Skálová, Jana; Podškubka, Tomáš

doi:10.18267/j.efaj.71

Cited by 6 publications

(3 citation statements)

References 1 publication

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“…The global harmonization of accounting has brought many positive results within the ongoing convergence of basic accounting and reporting principles of multinational and national accounting systems (Skálová, Podškubka, 2009). In the area of business combinations, this has been signifi cantly promoted by the convergence agreement of 2002 concluded between the FASB and the IASB, which has, among others, led to the origination of compatible revised standards ASC 805 and IFRS 3R.…”

Section: Discussionmentioning

confidence: 99%

Comparison of accounting methods for business combinations

Sedláček¹,

Křížová²,

Hýblová³

2013

Acta Univ. Agric. Silvic. Mendelianae Brun.

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The revised accounting rules applicable to business combinations in force on July1st 2009, are the result of several years eff orts the convergence of U.S. and International Committee of the Financial Accounting Standards. Following the harmonization of global accounting procedures are revised and implemented also Czech accounting regulations. In our research we wanted to see how changes can aff ect the strategy and timing of business combinations. Comparative analysis is mainly focused on the diff erences between U.S. and international accounting policies and Czech accounting regulations.

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Section: Discussionmentioning

confidence: 99%

Comparison of accounting methods for business combinations

Sedláček¹,

Křížová²,

Hýblová³

2013

Acta Univ. Agric. Silvic. Mendelianae Brun.

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“…Lasák (2009) had been analyzing the legal aspects of mergers in relation to Community law, while Otavova (2010) commented on the integration of cross-border mergers and demergers to the legal system. Skálová and Podškubka (2009) concentrated on accounting interpretation of cross-border mergers in the Czech Republic based on Czech Accounting Standards. Kuhn and Štenglová (2010) brought comments on the Czech Act on Transformations of Business Companies.…”

Section: A Review Of the Literature: Identifying And Closing The Knowmentioning

confidence: 99%

Obstacles to European Cross-Border Merger Realization

2012

CUBR

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Despite the implementation of the Tenth EC Directive on cross-border mergers, individual Member States company law can still impede the legal realization of cross-border mergers. This paper has researched the causes of this state of affairs. It has investigated empirical data concerning cross-border mergers in the Czech Republic from which generalize conclusions can be made for the whole European Union. Data from cross-border mergers announced and carried out in the Czech Republic from 1st January, 2007 to 31st December, 2011 were used for the identification of obstacles to the realization of cross-border mergers. The paper used comparative analysis of data collected from questionnaires in 10 selected European countries in which cross-border mergers were realized during the research period. The starting point of the research period was taken to be the decisive day of the merger, that is, the day when the merging company is legally responsible for the merged companies' accounts. The research found that approaches taken towards the decisive day differed between countries. The analysis formed a basis for some proposals for legislative changes in the Czech Republic. The paper recommends that a change in the legal determination of the decisive day could help Czech companies realize a greater volume of cross-border mergers. The research conclusions also have implications for other countries legal approaches to the issue of cross-border mergers.

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“…There are many papers dealing with conceptual differences of the Czech accounting regulation for business combinations and IFRS regulation on the theoretical level, for example (Žárová and Skálová, 2014;Křížová, et al, 2014;Strouhal, et al, 2012;Lasák, 2010;Skálová and Podškubka, 2009), but there are only few papers analysing the actual transactions that took place in the Czech Republic Sedláček, et al, 2011;Sedláček, et al, 2014).…”

Section: Introductionmentioning

confidence: 99%

Business Combinations of Czech Companies: Empirical Analysis of Their Typology

Pospíšil¹,

Vomáčková²

2018

Acta Univ. Agric. Silvic. Mendelianae Brun.

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This paper is a descriptive study which analyses company transformations -a subset of M&A -which took place in the Czech Republic in 2013. Based on the statistical sample containing detail data of 115 transformations, we analysed important aspects of company transformations (M&A) such as ownership structure of the participating companies, deployment of the effective date, acquisition date, balance-sheet date, date of registration and transformation project date, utilization of available forms of company transformations, utilization of financial statements for transformation purposes and incidence of fair-value revaluation. The results of the research shows, that majority of company transformations are in fact corporate holdings reorganisations rather than business combinations as defined by IFRS 3 and it also suggests that the rules for accounting for these transactions are in fact misused for distribution of earnings (even unrealized earnings) through the corporate holdings. We have also identified cases of severe distortion of faithful representation of successor's company financial position, most often as a result of retrospective company transformations, where the effective day of the merger was put before the date of acquisition of the majority on target's equity.

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Accounting Interpretation of Cross-border Mergers in the Czech Republic Based on Czech Accounting Standards

Abstract: 1 Sometimes referred to as "Tenth Directive". 2 Hereinafter referred to as "Business Transformations Act or BTA".

Cited by 6 publications

References 1 publication

Comparison of accounting methods for business combinations

Comparison of accounting methods for business combinations

Obstacles to European Cross-Border Merger Realization

Business Combinations of Czech Companies: Empirical Analysis of Their Typology

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