The development of accounting in Czechoslovakia after the World War II was influenced by political and economic changes of that time. Firstly, it is a subject to tradition, and then also the political order. It results in the transition from the Germanic type of accounting to the Soviet model of...

In the period between 1953 – 1965 the system of Book-Keeping Evidence of the National-Economic Evidence was used in Czechoslovakia, based strictly on the Soviet model of accounting. This system was replaced in 1966 by Singular System for Economic Information. The content followed the post-war...

Among the most frequent transactions realized between related entities included in a group are sales of goods, provision of services, lending, sales of securities and other financial assets. Consolidation adjustments leading to eliminations of these transactions realized e.g. between parent and...

Description of three various approaches to allocate income tax expense from financial statements of a subsidiary to financial statements according to the requirement of its parent company in case of the financial statements of a subsidiary used in the preparation of consolidated financial...

The entities, that have to translate its results and financial position from its functional currency into a presentation currency for purpose of consolidation, use the method, under these assets and liabilities are translated at the closing rate, and income and expenses are translated at the...

Availability of controlling interest enables parent entity to specify its subsidiary which sort of goods it may buy and from whom, to whom it may sell the goods and at what cost. Therefore, parent entity can transfer profits among entities included in its group according to its specific...

The article deals with transition from consolidated financial statements reported by proportionate consolidation method to these reported by equity method. IFRS 11 Joint Arrangements that fully superseded IAS 31 Interests in Joint Ventures become effective for financial statements for annual...

Although the usage of the equity method in the group where the investor exerts a significant influence becomes the standard procedure for the preparation of financial statements for a group, there are still many problems that are not addressed by the national legislation or in international...

The main topic of the paper is a study of Katerina Hellström. Author of the study engages in testing of value relevance in transition economy – in the Czech Republic during the years 1994-2001. The test demonstrated less value relevance in the Czech Republic in comparison of Sweden and also...

In June 2005 the International Accounting Standards Board (IASB) decided to withdraw IFRIC 3 Emission Rights with immediate effect. IFRIC 3 was developed to explain how to apply existing International Financial Reporting Standards (IFRS) to ‚cap and trade emission rights schemes. However,...