The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 22 December 2022…
This article provides a high-level overview of the new and revised Standards and Interpretations that are effective for the December 2022 calendar year-end and subsequent accounting periods.
With the end of the financial year, many companies are faced with the need to recognise unpaid management or employee bonuses in their accounts. Each year we see different views on how to handle this in the fin…
The version of the model consolidated financial statements under IFRSs as adopted by the EU prepared by the Prague office of Deloitte is available on Deloitte’s website in both Czech and English.
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 10 November 2022…
On 26 October 2022, the Ministry of Finance sent a draft of the new Accounting Act for the comment procedure. The draft of the new Accounting Act is based on the intended subject-matter that was approved by the…
On 28 October 2022, the European Securities and Markets Authority (ESMA) announced the priority issues that the assessment of listed companies' 2022 financial statements will focus on.
On 31 October, the International Accounting Standards Board (IASB) published 'Non-current Liabilities with Covenants (Amendments to IAS 1)' to clarify how the conditions with which an entity must comply within …
The ambiguous treatment of foreign exchange revaluation in Czech legislation is one of the reasons why we encounter in practice a number of errors arising from incorrectly set accounting procedures. Evidence of…