The article presents initial empirical findings about corporate reorganizations ordered in 2010 (with cut-off date as of March 2011), the third year after the coming into force of the new Czech Insolvency Act. These findings are compared to similar findings made in relation to the period...

The description of contemporary application of Corporate Governance principles in Czech companies. The prezentation of Corporate Governance decision steps. The definition of Corporate Governance individual practices in Czech companies. Presentation of future system development of Corporate...

This paper uses new firm-level data to examine the effects of breakups of the Czech firms and their subsequent privatization on corporate performance. Unlike the existing literature, which analyzes breakups almost exclusively in advanced economies, we control for accompanying ownership changes...

A comparison of the conceptual frameworks underlying International Financial Reporting Standards (IFRS / IAS) and American Generally Accepted Accounting Principles (US GAAP) reveals a striking theoretical similarity between the two. Unfortunately, this similarity is masked by an even more...

The paper describes the IFAC Education Committee effort to develop new International Education Standards for Professional Accountants. It informs about the structure and content of International Education Standards and it defines the principle standard requirements. The end of the paper is...

The ordering a categorization of data in the income statement is unavoidable. Even in the absence of clearly identified subtotals, there is some form of implicit structure in any income statement. An immediate difficulty, however, is that attempts to define income statement categories can be...

Financial accounting has been playing an important role in the economic system in the USA, since it has been supporting an effective operation of capital market, and consequently of whole economy. Its main task is to provide reliable accounting information about accounting entity to its users...

The article deals with the process of European accounting harmonisation. The process of European accounting harmonisation is divided into several historical phases including an overview of EC regulations on accounting. Description of the process of implementation of International Accounting...

This exposition focused to some basic problems by definition of the microeconomic (and accounting) category "revenue", of its congruence and differences in canonic texts (law act, instruction, directive etc.), which regulate a complex of accounting performances, in the first place, income...

The paper focuses on financial reporting of long-lived assets. The author's aim was to analyze the approach of two major accounting principles - IAS/IFRS and US GAAP. Both of the principles address following issues: * initial recognition and measurement, * depreciation: allocation of capitalized...