The following information was submitted:
Transactions: INTERNATIONAL JOURNAL of SYSTEMS ENGINEERING, APPLICATIONS AND DEVELOPMENT
Transactions ID Number: 19-700
Full Name: Katerina Struharova
Position: Ph.D. Candidate
Age: ON
Sex: Female
Address: Tomas Bata University in Zlín, Mostní 5139, 760 01 Zlín
Country: CZECH REPUBLIC
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E-mail address: struharova@fame.utb.cz
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Title of the Paper: Shift to IFRS – what would this mean for Czech companies
Authors as they appear in the Paper: Kateøina Struhaøová, Karel Šteker, Milana Otrusinová
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Number of paper pages: 8
Abstract: Usage of IFRS financial statements in the Czech Republic is very rare. This is due to the fact that only listed entities are required to prepare its consolidated financial statements in line with IFRS. If other entities want to prepare their financial statements under IFRS they have to prepare them in addition to financial statements under CZ GAAP which are mandatory for statutory purposes. Also the opportunities that IFRS can bring to Czech companies are not seen by them. In this paper we discuss what the shift to IFRS mean for Czech companies and what is the impact of possible adoption or convergence plans on Czech companies.
Keywords: adoption, harmonization, IFRS, the Czech Republic
EXTENSION of the file: .pdf
Special (Invited) Session: Challenges and opportunities represented by shift to IFRS in the Czech Republic
Organizer of the Session: 648-181
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