Shift from National Reporting to Reporting in Accordance with International Financial Reporting Standard for Small and Medium-sized Entities and Its Effect on Financial Management – the Case of the Czech Republic
Struhařová Kateřina
Keywords:
Financial Reporting, Financial Management, IFRS for SMEs, Czech Republic
Abstract:
The aim of this paper is to evaluate the effect of the shift from Financial Reporting under the
Czech legislature (CZ GAAP) to the International Financial Reporting Standard for financial
management in Small and Medium-sized Enterprises (IFRS for SMEs). The reasons for the
shift and major differences between CZ GAAP and IFRS for SMEs are mentioned, as well as
the changes relevant to the shift. Not only changes in accounting departments are defined but
also the changes that affect a company as a whole. Furthermore, information from Financial
Reporting used in Financial Management is described. Also, the effect of the changes in Financial
Reporting on this information and related modifications affecting Financial Management
are evaluated.
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 Shift from National Reporting to Reporting in Accordance with International Financial Reporting Standard for Small and Medium-sized Entities and Its Effect on Financial Management – the Case of the Czech Republic [PDF file] [Filesize: 1020.4 KB]
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