Small Change in Czech Accounting Regulations or Big Change in Accounting Thought

Malá změna účetních předpisů nebo velká změna v účetním myšlení?

Jana Skálová ()

Český finanční a účetní časopis, 2011, vol. 2011, issue 4, 32-42

Abstract: The Czech accounting council discussed how to correct errors from previous year. Czech accounting standards suggest using extraordinary expenses or revenues. However some Czech professionals reject this method as it doubles the error in the following year. The Czech Accounting Council issued an interpretation about comparability in accounting information in 2007. In the document a new approach is recommended. The Ministry of finance has prepared new rules following this recommendation. These are slated to come into effect in 2013 together with an amendment on income tax. The new approach uses a new item in equity for recording these corrections of mistakes from previous years.

Keywords: Corrections of mistakes; Equity; The Czech Accounting Council; Opravy chyb; Srovnatelnost; Vlastní kapitál (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://cfuc.vse.cz/doi/10.18267/j.cfuc.144.html (text/html)
http://cfuc.vse.cz/doi/10.18267/j.cfuc.144.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlcfu:v:2011:y:2011:i:4:id:144:p:32-42

Ordering information: This journal article can be ordered from
Český finanční a účetní časopis, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3
http://cfuc.vse.cz

DOI: 10.18267/j.cfuc.144

Access Statistics for this article

Český finanční a účetní časopis is currently edited by Karel Brůna

More articles in Český finanční a účetní časopis from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().