The Role and Current Status of IFRS in the Completion of National Accounting Rules – Evidence from the Czech Republic

Jindřichovská, Irena; Kubíčková, Dana

doi:10.1080/17449480.2017.1301671

Cited by 18 publications

(19 citation statements)

References 2 publications

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“…Hence, at least from the accounting point of view, the GDPR is a clear expense for municipalities which often financially struggle and desperately attempt to have a balanced, and not a deficit, budget, as witnessed by the current status of the progress of accounting harmonization in the Czech Republic (Jindřichovská & Kubíčková, 2016;Jindřichovská & Kubíčková, 2017). This prompts conclusions about the dark side of the GDPR and the perception of the GDPR as another bureaucratic red-tape and expensive instrument from above.…”

Section: Resultsmentioning

confidence: 99%

Selected Issues from the Dark Side of the General Data Protection Regulation

Cvik

Pelikánová

Malý

2018

Review of Economic Perspectives

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The Regulation (EU) 2016/679 on the protection of personal data (GDPR) was enacted in 2016 and applies from 25 th May 2018 in the entire EU. The GDPR is a product of an ambitious reform and represents a direct penetration of the EU law into the legal systems of the EU member states. The EU works on the enhancement of awareness about the GDPR and points out its bright side. However, the GDPR has its dark side as well, which will inevitably have a negative impact. Hence, the goal of this paper is twofold -(i) to scientifically identify, forecast, and analyze selected problematic aspects of the GDPR and its implementation, in particular for Czech municipalities, and (ii) to propose recommendations about how to reduce, or even avoid, their negative impacts. These theoretic analyses are projected to a Czech case study focusing on municipalities, which offers fresh primary data and allows a further refining of the proposed recommendations. An integral part of the performed analyses is also a theoretic forecast of expenses linked to the GDPR, which municipalities will have to include in their mandatory expenses and mid-term prognostic expectations regarding the impact on the budgets of these municipalities from Central Bohemia. The GDPR, like Charon, is at the crossing, the capacity and knowledge regarding its application is critical for operating in the EU in 2018. It is time both to admit that the GDPR has its dark side and to present real and practical recommendations about how to mitigate it.

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Section: Resultsmentioning

confidence: 99%

Selected Issues from the Dark Side of the General Data Protection Regulation

Cvik

Pelikánová

Malý

2018

Review of Economic Perspectives

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“…However, there was a change in regulations in 2010, when IFRS was allowed to be used in Czech companies that were part of bigger international groupings. These subsidiaries were allowed to use IFRS as the primary standard, but subsidiaries, which are part of international companies, can use IFRS as their primary accounting standard and translate the relevant parts to CAS for tax purposes (Mejzlik and Zarova, 2009;Jindrichovska, Kubickova, 2017;André, 2017). We use all variables in a logarithmic form that is shown by the capital letter "L." The equations are as follows:…”

Section: Figure 2 Scatter Plot Of Logarithm Of Imports By Countriesmentioning

confidence: 99%

“…But there was a change in regulations in 2010 when IFRS was allowed to be used within Czech companies that were part of bigger international groupings. These subsidiaries were allowed to use IFRS as the primary standards rules, but subsidiaries, which are part of international companies, can use IFRS as their primary accounting standards and translate the relevant parts to CAS for tax purposes (Jindrichovska and Kubickova, 2017;Andre, 2017). This instructional change was described in many academic works, e.g., Jindrichovska and Kubickova (2016) and (2017), Prochazka (2017), Denisova et al (2017) and others.…”

Section: Introductionmentioning

confidence: 99%

Estimating Gravity Model in the Czech Republic: Empirical Study of Impact of IFRS on Czech International Trade

Uğurlu¹,

Jindřichovská²

2019

ERSJ

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Purpose:In this paper, we test the influence on foreign trade and FDI by using the gravity model within the EU. The influence of IFRS is also tested, although we might expect that its influence will be smaller than that of other factors. Design/Methodology/Approach: According to the gravity model, countries are trading according to their proximity and also according to the size of their GDP. Negative influence is played by trade barriers and positive by common traditions and a common political background. Big countries trade a lot between each other, e.g., the USA and Canada on the same continent or the USA and Germany in different continents. Smaller countries, like the Czech Republic, do not have such an impact on the scale of world trade. The size of exports /imports is influenced by the fact of whether or not they are part of some trading bloc, e.g., the EU in Europe or NAFTA in America. Accounting rules, namely IFRS, are expected to be perceived as a positive influence on the world trade of a particular country and a country´s FDI (Foreign Direct Investment). Findings: Contrary to our expectations, we have found that the influence of IFRS is not insignificant and is more pronounced after the year 2010 which coincides with the change of local regulations. Practical Implications: The findings establish an interesting signal relating to perceiving the increasing quality of the Czech economic environment including accounting regulations. Originality/Value: Based on our methodology accounting rules, namely IFRS, are expected to be perceived as a positive influence on the world trade of a particular country and a country´s FDI (Foreign Direct Investment).

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“…Pillar number three is the Regulation (EU) 2015/884 establishing technical specifications and procedures required for the system of interconnection of registers, which created the electronic system of interconnection of registers called the Business Registers Interconnection System (BRIS). Within the BRIS, data critical for financial accounting, tax and even managerial accounting [51,52] is migrated from national Business Registers to the European Central Platform and available at the e-Justice Portal placed on a sub-domain of the EU top level domain "TLD.eu" [53]. Hence the search at the e-Justice Portal,…”

Section: Legislative Frameworkmentioning

confidence: 99%

Corporate Social Responsibility Information in Annual Reports in the EU – A Czech Case Study

Pelikánová¹

2018

Preprint

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The commitment of the EU to Corporate Social Responsibility (CSR) is projected in the EU law about annual reporting by businesses. Since EU member states further develop this framework by their own domestic laws, annual reporting with CSR information is not unified and just partially mandatory in the EU. Do all European businesses report CSR information and what public declaration to society do they provide with it? The main dual purpose of this paper is identifying the parameters of this annual reporting duty and studying the CSR information provided by the ten largest Czech companies in their annual statements for 2013-2017. Based on legislative research and the teleological interpretation, the current EU legislative framework with Czech particularities is presented and, via a case study exploring 50 annual reports, the data about the type, extent and depth of the CSR is dynamically and comparatively assessed. It appears that, at a minimum, large Czech businesses satisfy their legal duty and e-report on CSR in a similar extent, but in dramatically different quality. Employee matters and adherence to international standards are used as a public declaration to society more than the data on environmental protection, while social matters and R&D are played down.

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The Role and Current Status of IFRS in the Completion of National Accounting Rules – Evidence from the Czech Republic

Cited by 18 publications

References 2 publications

Selected Issues from the Dark Side of the General Data Protection Regulation

Selected Issues from the Dark Side of the General Data Protection Regulation

Estimating Gravity Model in the Czech Republic: Empirical Study of Impact of IFRS on Czech International Trade

Corporate Social Responsibility Information in Annual Reports in the EU – A Czech Case Study

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The Role and Current Status of IFRS in the Completion of National Accounting Rules – Evidence from the Czech Republic

Cited by 18 publications

References 2 publications

Selected Issues from the Dark Side of the General Data Protection Regulation

Selected Issues from the Dark Side of the General Data Protection Regulation

Estimating Gravity Model in the Czech Republic: Empirical Study of Impact of IFRS on Czech International Trade

Corporate Social Responsibility Information in Annual Reports in the EU &ndash; A Czech Case Study

Contact Info

Product

Resources

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Corporate Social Responsibility Information in Annual Reports in the EU – A Czech Case Study