Reform of Accounting and Accounting Education in the Slovak Republic After the Euro Zone Accession

Radoslav Tusan
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Radoslav Tusan: Technical University of Košice, Faculty of Economics

Chapter 22 in Serbia and the European Union: Economic Lessons from the New Member States, 2011, vol. 1, pp 344-358 from Institute of Economic Sciences

Abstract: In the process of joining the European Union, it was important to harmonize the accounting system of Slovakia with the one used in the member states of the European Union. The Slovak Republic prepared a new Act on Accounting, which reached a comparability of Slovak accounting jurisdiction with the directives of the EU. This act has been effective since January 1st of 2003. The Act on Accounting still remains a general juridical norm and is used by every accounting unit. A basic philosophy of the act “a truthful and a faithful representation” persists.The accounting is a compulsory course at all universities in the Slovak Republic with the economic orientation. Professors of Slovak universities took up the grant of World Bank and Ministry of Finance regarded a new teaching plan and a curriculum of the financial accounting courses. A goal of this grant was to improve the accounting curriculum at the institutions of higher education, introduce courses with the practical application of the International Accounting Standards (IAS), the International Financial Reporting Standards (IFRS), the International Standards on Auditing (ISA) and courses of auditor’s professional work ethic.

Keywords: Accounting; Act on Accounting; accounting unit; accounting principles; accounting education (search for similar items in EconPapers)
Date: 2011
ISBN: 978-971-9344-03-9
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