Changes to the Czech Accounting Standards
In Financial Bulletin No. 9/2011, the Ministry of Finance published changes to the Czech Accounting Standards (“Standards”), including changes applicable to businesses and selected accounting units[1].
Czech Accounting Standards for Businesses
As of 1 January 2012, three Standards applicable to deferred tax, transactions with a business, and capital accounts and long-term liabilities were amended. The changes concern company transformations.
As of 1 January 2013, the Standards regulating the opening and closing of accounting books, deferred tax, capital accounts and long-term liabilities, and costs and revenues were amended. The amendments were made in connection with the changes in Decree No. 500/2002, Coll., applicable to businesses, in respect of profits/losses from previous years.
Czech Accounting Standards for Selected Accounting Units
As of 20 December 2011, the Standards regulating accounts and principles of accounting in respect of accounts, transfers, adjustments, disposals of receivables, and inventories were amended. The amendment principally concerns accounting procedures.
[1] Accounting units keeping accounting books pursuant to Decree No. 410/2009, Coll., as amended (territorial self-governing units, partially budget-funded organizations, etc.)
Other articles
KŠB poskytla právní poradenství při vstupu skupiny Enteria do skupiny Znakon
KŠB poskytla právní poradenství při prodeji 75% podílů ve společnostech Znakon, Znakon Asfalt a Znakon Servis jednomu z největších českých stavebních holdingů, pardubické skupině enteria.
KŠB Runs for a Good Cause
On Tuesday, 8 September three teams from KŠB took part in the eighth annual Good Will Run organised by the Olga Havel Foundation in Prague’s Hvězda Park. Proceeds from the entry fees will go towards supporting families facing difficult circumstances due to serious illness, loss of housing or domestic violence.
Richard Schmidt Joins KŠB, Strengthening Its Corporate Criminal Liability and Compliance Practice
KŠB expanded its team at the beginning of August with the arrival of attorney Richard Schmidt, who has extensive experience in criminal law, including corporate criminal liability and related compliance matters.
