The benefits that users gain from financial statements depend on clear and concise presentation of the underlying economics. The current IFRS regulation on presentation of primary financial statements suffers from several flaws. This paper identifies and analyzes these flaws using illustrative...

The benefits that users gain from financial statements depend on clear and concise presentation of the underlying economics. The current IFRS regulation on presentation of primary financial statements suffers from several flaws. This paper identifies and analyzes these flaws using illustrative...

The Czech national law regulating accounting is not harmonized with International Financial Reporting Standards (IFRS). Because of this, all financial statements compiled according to Czech regulations are not comparable with IFRS statements. International users of accounting information, e.g....