D 2017

Changes in unrealized production accounting in the Czech Republic and their consequences

KOŠTUŘÍKOVÁ, Ivana

Basic information

Original name

Changes in unrealized production accounting in the Czech Republic and their consequences

Authors

KOŠTUŘÍKOVÁ, Ivana (203 Czech Republic, guarantor, belonging to the institution)

Edition

Bratislava, AIESA - BUILDING OF SOCIETY BASED ON KNOWLEDGE, p. 74-84, 11 pp. 2017

Publisher

Letra Edu

Other information

Language

English

Type of outcome

Stať ve sborníku

Field of Study

50204 Business and management

Confidentiality degree

není předmětem státního či obchodního tajemství

Publication form

storage medium (CD, DVD, flash disk)

RIV identification code

RIV/47813059:19520/17:00010943

Organization unit

School of Business Administration in Karvina

ISBN

978-80-972866-1-3

Keywords in English

inventories; unrealized production; costs; revenues; profit and loss; profitability
Změněno: 7/2/2020 10:58, RNDr. Daniel Jakubík

Abstract

V originále

The entry of the Czech Republic into the European Union resulted in many changes of law rules and regulations. These changes also affected a legislative amendment of the Accounting. The process of accounting reform is very closely related to the provision of reliable, comparable and comprehensible accounting information. The application of international accounting standards to national legislation and the creation of national accounting standards has become the basic trend in accounting. Changes were made by amendments to the Act on Accounting, which were followed by the issue of implementing regulations to the Act on Accounting and the Czech Accounting Standards in the past. Other changes to accounting legislation occurred in 2016, where the major changes included the valuation adjustment of inventory created by its own activities, making entries of transactions be connected with changes in inventories and their reporting. The aim of the paper is to evaluate the effect of changes in accounting of the unrealized production on the performance of companies in the manufacturing sector. Using the comparison of past and present methods of accounting for unrealized production will be an evaluation of observed changes and their impact on the profit and loss account and the selected financial indicators.