Acta academica karviniensia 2014, 14(1):16-23 | DOI: 10.25142/aak.2014.002

CHANGES IN VIEW ON FINANCIAL POSITION AND PERFORMANCE OF A COMPANY AT APPLICATION OF THE IFRS IN THE CZECH REPUBLIC

Michaela Beranová1, Josef Polák2
1 Brno University of Technology, Faculty of Business and Management, Kolejní 2906/4, 612 00 Brno, Email: beranova@fbm.vutbr.cz
2 Brno University of Technology, Faculty of Business and Management, Kolejní 2906/4, 612 00 Brno, Email: polakj@fbm.vutbr.cz

Financial statements are a necessary base of measurement of financial position and performance of a company, and the clearly proved fact is that the view on financial position and performance is influenced by applied accounting and reporting methods. Objective of the submitted paper is to quantify differences in financial position and performance of companies at application of IFRS. The authors are also aimed at the synthesis of accounting differences between IFRS and the Czech accounting law. In order to fulfil objective of the paper the authors based their work especially on the primary research. They have used the statistic sample of companies where they transformer financial statements of these companies in accordance with the IFRS. Then, the methods of financial analysis have been applied in order to quantify the differences in the financial position and performance at application of the IFRS.

Keywords: financial performance, financial position, IFRS, true and fair view
JEL classification: M21, M41

Received: February 7, 2013; Accepted: September 11, 2013; Published: March 30, 2014  Show citation

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Beranová M, Polák J. CHANGES IN VIEW ON FINANCIAL POSITION AND PERFORMANCE OF A COMPANY AT APPLICATION OF THE IFRS IN THE CZECH REPUBLIC. Acta academica karviniensia. 2014;14(1):16-23. doi: 10.25142/aak.2014.002.
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