Changes in the Czech accounting legislation from 1 January 2024
In the following article, we summarise changes in the Czech accounting legislation that are effective from 1 January 2024.
The bill of the new accounting act has been published
On 15 January 2024, the Ministry of Finance of the Czech Republic published the bill of the new accounting act. The bill has been significantly changed since the last version published in November 2022, when it…
What to remember when calculating deferred tax for 2023
Which entities are required to account for deferred tax? And how is this tax properly calculated? In the following article, we have outlined what to pay special attention to when calculating deferred tax in the…
Software as a licence – an asset or an expense?
The technological evolution of recent years has caused companies to shift away from proprietary software and on-premises servers to licensing and cloud solutions. This development has significantly affected the…
Impact of the government’s Consolidation Package on the Accounting Act
The government's consolidation package, which is currently going through the legislative process, brings a number of changes that will also affect accounting. The most significant one is undoubtedly the introdu…
Updated Interpretation of the National Accounting Board I-8
The following article briefly summarises the key points of the National Accounting Board’s updated interpretation I-8 Social Fund and Similar Funds from Profit.
Technical improvements of intangible assets
What are the rules for technical improvements of intangible assets and their amortisation? What is the definition of intangible fixed assets? What are the technical improvements of intangible assets? The follow…
Cash flow in the financial statements
Some reporting entities prepare an obligatory separate cash flow statement as part of the financial statements, others prepare it voluntarily – e.g. based on the requirements of users, typically investors. Some…
Questions regarding the effectiveness of the new Accounting Act
The new Accounting Act, which should come into force on 1 January 2024, is still in the legislative process. Let us summarise in what phase the act and the related regulations are now.