Possibilities and Risks of the Translation of the Czech Financial Statements  to IFRS by Accounting Information Systems

Mejzlík, Ladislav

doi:10.18267/j.cfuc.128

Cited by 12 publications

(3 citation statements)

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“…In case of IFRS adopted by subsidiaries, the IFRS are adopted alongside with the statutory local GAAP. The conversion of financial statements is not a trivial issue (Mejzlik, 2006;Šteker, 2013) and the costs of operating more accounting information modules increase significantly. In order to optimise the "cost-benefit function", e.g.…”

Section: The Role Of Ifrs Adoption On the Architecture Of Management mentioning

confidence: 99%

Specifics of IFRS Adoption by Central and Eastern European Countries: Evidence from Research

Procházka¹

2017

Scientific Annals of Economics and Business

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The paper reviews recent literature on the specifics of adoption of International Financial Reporting Standards (IFRS) by the new EU members from the Central and Eastern Europe. Despite being members of the EU or OECD, the transition to a standard developed economy has not yet finished. The first part of the paper presents macroeconomic statistics and capital market data, which underline a unique economic structure of the region (relative unimportance of capital markets for raising capital, strong dependence on foreign direct investments) combined with the lacks in institutional environment. Under such conditions, the economic consequences of IFRS adoption can be unpredictable and adverse. The second part of the paper analyses the reflection of specifics of the IFRS adoption in the CEE region in research studies covered by the Thomson Reuters' Web of Science database. The analysis reveals (a) cross-country disproportion in the research coverage of the area; (b) relatively low coverage of the IFRS research focusing on these transition countries in top journals.

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Section: The Role Of Ifrs Adoption On the Architecture Of Management mentioning

confidence: 99%

Specifics of IFRS Adoption by Central and Eastern European Countries: Evidence from Research

Procházka¹

2017

Scientific Annals of Economics and Business

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“…Je možné identifikovat tři základní postupy, pomocí kterých lze převést účetní závěrku sestavenou podle výchozí sady účetních standardů na alternativní účetní závěrku [Mejzlík, 2006]:…”

Section: Analýza Regulatorního Rámceunclassified

Forced Adoption of IFRS by Czech Non-Listed Companies: An Assessment of Benefits and Costs

Procházka¹

2016

AOP

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Forced Adoption of IFRS by Czech Non-Listed Companies: An Assessment of Benefits and CostsThe paper deals with the effects of IFRS adoption by a specific group of companies. It focuses on the so-called forced IFRS adopters, which are such private (non-listed) companies that (a) are forced to adopt the IFRS (because their parent prepares IFRS consolidated statements) and simultaneously (b) are not permitted by the regulatory framework of a given jurisdiction to apply the IFRS in their individual financial statements on a voluntary basis. In particular, benefits and costs connected with the forced IFRS adoption by Czech private companies are assessed. The results, based on a questionnaire survey among affected companies, confirm the intuitive presumption that accounting treatment of certain items significantly differs between Czech GAAP and IFRS, which requires the use of advanced methods for the conversion of financial statements. Regardless of which conversion method is used, perceptions of both benefits and appropriateness of incurred costs vary across entities. The benefit-to-cost ratio for the two most commonly used conversion methods (spreadsheets and dual accounting software) is comparable, as the first method generates fewer benefits for lower costs and the second method is connected with more benefits, but at higher costs. Finally, the survey reveals that actual costs of IFRS adoption are higher than the expected costs regardless of the conversion method applied.

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“…The development of financial reporting in the Czech Republic and its regulation in the EU, including its relationship to various tax aspects discussed Ištvánfyová et al (2010). For example Mejzlík (2006) addressed in detail the issue of possible conversion methods between national accounting systems and IFRS and the associated risks.…”

Section: Introductionmentioning

confidence: 99%

Adjustments to Accounting Profit in Determination of the Income Tax Base: Evolution in the Czech Republic

Mejzlík¹,

Vítek²,

Roe³

2014

EFAJ

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Possibilities and Risks of the Translation of the Czech Financial Statements to IFRS by Accounting Information Systems

Cited by 12 publications

References 0 publications

Specifics of IFRS Adoption by Central and Eastern European Countries: Evidence from Research

Specifics of IFRS Adoption by Central and Eastern European Countries: Evidence from Research

Forced Adoption of IFRS by Czech Non-Listed Companies: An Assessment of Benefits and Costs

Adjustments to Accounting Profit in Determination of the Income Tax Base: Evolution in the Czech Republic

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