JOSHUA HAROLD BINTANG (23212971) 4EB17
ASSEMBLE
OF ACCOUNTING IFRS IN CZECH REPUBLIC
Czech Republic is a country where placed in
Central Europe. In this country accounting had changed several times as time
goes by history in this country. Czech Republic used Uni Soviet Accounting
practiced as a basic accounting to build a central economic. In this point seen
by administrative needed various government institution such as specific
feature is similar account list, definite account method, and similar financial
statement is must for all company. Which focused againts production and
expense, based cost gain hitting via external report. Cost not describe market
value to compare demand and supply, but determine and manage which centered
especially on basic cost plus.
After 1989, Czech was moved fast to
economic which market oriented with changed legal structure and administrative
to stimulate economic and attractive interest foreign investor. In 1993, Prague
Stock Exchange practical authorized in this country. Private economy worked via
change over properties to previous owner. Example, over 20.000 shop,
restaurant, and little company sold to netizen via big sale and much more big
private. This big sale purpose for netizen invest via system voucher coupon
which bought with definite price and this vouchers can used for bought stock
from big private company industry. But a lot of Czech people not had experience
as stockholder, So they sold their stock to national bank which had an invest
bank. This point importance conflict effect
for that banks, and the end similar ownership company which their equity
investment. Privatitation happened absolutely as a mistake and next step worked
to adjustment economy.
In 1995, Czech Republic became the first
member of Organization for Economic Cooperation and Development (OECD) and in
1999 Czech Republic joined with NATO and in 2004 joined with Uni Eropa.
Regulation
and Accounting Administration
In 1991, Czech Parliament made Commercial
Code which started in 1 January 1992. Commercial code recognize many basic
legislation relation with business. In 1991, Accountancy Act determinate term
for accounting, authorized launched and held in 1 January 1993. Start from 1
January 2002 and 2004 worked effort for immediate Czech Accounting with IFRS.
Finance chancellor responsibility accounting principle via decrit finance
chancellor. So, accounting in Czech Republic affect from Commercial Code,
Accountancy Act, and decrit finance chancellor.
Financial
Statement
Financial Statement must be comparative,
consist of :
1.
Balance
Sheet
2.
Income
Statement
3.
Memo
Based of term EU Directives, memo consist
of accounting policy explanation and relevant information for evaluate
financial statement. Composite financial statement for groups must to fulfill
from consequent criteria :
1.
Asset
value CzK 350 million
2.
Income
value CzK 700 million
3.
250
Employee
Financial statement approved on general
meeting of stockholders yearly. Czech companies must listed use IFRS, while unlisted
can used IFRS or standard accounting of Czech for their composite financial
statement. But, for own company used standard accounting of Czech.
Accounting
Scale
Acquisition method used for counting
business combine (Joint Venture). Equity method used for associate companies
and proportional compare used for joint venture. Assets tangible fixed assets
and intangible fixed assets values by cost and hopeful eliminate economis life.
Supplies value on low cost or reached net value, and FIFO within anabled
average method availibilty assume cost flow LIFO. For research cost and growth
can capitalization and rent assets uncapitalization. Revenue tax deferred was
fully given, a company could make decisions repair expenses and maintance,
deposit shall be required, profit was adapted every year up to 20% equity for
corporation, and 10% for company limited obligation.
Sumber : Choi, Frederick, D., S., Meek,
Gary K.,. 2010. International Accounting. Edisi Keenam.
Jakarta: Salemba Empat
