1. Marie Paseková, Czech Republic
2. Zuzana Crhová, Fakulta managementu a ekonomiky Univerzity Tomáše Bati ve Zlíně, Czech Republic
Small and medium enterprises are a significant, dynamic sector in EU economies. They are the moving force of the entrepreneurial sphere, but with limited access to funds. The unified EU market requires unified legal norms and standardization in the area of accounting for small and medium enterprises. For this reason, significant initiatives were begun at the start of the new millennium, with the aim of providing small and medium enterprises with the knowledge and resources necessary to transcend the boundaries of the local environment to other EU countries and even to countries beyond the boundaries of the EU and towards simpler export of products and services. Enterprises in EU member states keep accounts and report according to the accounting system of the given country, i.e. according to national regulations that respect historical development, traditions and the dominant economic and legal environment. The process of harmonization of accounting is necessary for improving the international comparability, transparency and comprehensibility of financial statements. From the perspective of harmonization, Czech accounting legislation does not deal with the definition of basic elements of financial statements; it lacks a substance-over-form application principle for reporting of financial leasing and lacks the principle of effective interest rate. EU member states are left to decide whether they will use IFRS for SMEs mandatorily. Reporting according to IFRS for SMEs is voluntary in the Czech Republic. Enterprises that compile a financial statement according to IFRS for SMEs voluntarily prepare the financial statement for the needs of the investor, or because they want a better display of their real financial state than according to Czech legislation, for the need to improve supplier-buyer relationships and for foreign banks. The article aims to ascertain the level of harmonization of accounting in small and medium enterprises in the Czech Republic and the impacts arising from the harmonization process. On the basis of the conducted survey, enterprises show a reserved interest in reporting according to IFRS for SMEs. For enterprises, a decisive reason for accepting IFRS for SMEs could be expected gains; the dominant view, however, is that there are no gains stemming from accepting IFRS for SMEs. A minority of enterprises see the greatest advantage for using IFRS for SMEs in the comparability of financial statements, strengthening the credibility of financial statements and strengthening the prestige of the enterprise. Companies express interest in training in the problem of international account reporting standards. Enterprises consider financial leasing, reserves, long-term liabilities and long-term receivables to be problematic items in transferring to IFRS for SMEs. Enterprises have marked costs for training in the problem of international account reporting standards; salary costs for accounting experts and consultancy connected with transfer are decisive costs connected with transfer to IFRS for SMEs. In view of the fact that significant differences exist between IFRS for SMEs and full IFRS, small and medium enterprises have also to consider the choice between these two standards when transferring to a harmonized system of financial reporting.
Ključne reči :
Tematska oblast:
Datum:
05.09.2013.
REDETE 2014 - Researching Economic Development and Entrepreneurship in Transition Economies
