The following information was submitted:
Transactions: WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
Transactions ID Number: 89-176
Full Name: Jiri Strouhal
Position: Senior Lecturer
Age: ON
Sex: Male
Address: University of Economics Prague, W. Churchill Square 4, 130 67 Prague 3
Country: CZECH REPUBLIC
Tel: +420224095794
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E-mail address: strouhal@vse.cz
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Title of the Paper: National and International Financial Reporting Rules: Testing the Compatibility of Czech Reporting from the SMEs Perspective
Authors as they appear in the Paper: Jiøí Strouhal, Libuše Müllerová, Zdeòka Cardová, Marie Paseková
Email addresses of all the authors: strouhal@vse.cz; muller@vse.cz; cardova@vse.cz; pasekova@fame.utb.cz
Number of paper pages: 10
Abstract: There is a strong pressure from investors to report accounting items using fair value concept upon economic boom. The financial crisis period may raise an issue of revival of conservative concepts in financial reporting, e.g. historical costs measurement and application of prudence principle. Conceptual solution of valuation issues need not to come out from current economic situation and it is impossible to change this concept every time when economic conditions tend to change. Unsystematically changes of valuation concepts may conduce to instability of economic system. This paper performs a comparative analysis of reporting under national standards of Czech Republic and International Financial Reporting Standards with the special focus on small-and-medium sized enterprises (SMEs). The results show significant compatibility of reporting under both regulations.
Keywords: Financial Reporting; IFRS; Investors; Czech Republic; Compatibility Tests; Comparative Analysis; SMEs
EXTENSION of the file: .pdf
Special (Invited) Session: Testing the Compatibility between National and International Accounting: Case of Czech Republic
Organizer of the Session: 697-478
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