Comparison of financial leasing according to the Czech accounting legislation and IAS/IFRS including taximplications
There is intensive effort of the harmonisation of accounting in the world. Primary sence of harmonisation is ensured that individual financial statements of all accounting units were comparable. Notwithstanding there are still significant differences in same areas. This contribution is aimed at defi...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Mendel University Press
2010-01-01
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| Series: | Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis |
| Subjects: | |
| Online Access: | https://acta.mendelu.cz/58/3/0055/ |
| _version_ | 1818253947819786240 |
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| author | Jana Gláserová Milena Otavová |
| author_facet | Jana Gláserová Milena Otavová |
| author_sort | Jana Gláserová |
| collection | DOAJ |
| description | There is intensive effort of the harmonisation of accounting in the world. Primary sence of harmonisation is ensured that individual financial statements of all accounting units were comparable. Notwithstanding there are still significant differences in same areas. This contribution is aimed at define of posting and showing financial leasing according to Czech accounting legislation and international accounting standards IAS/IFRS, and determination of significant differences in these legislation.The leasing is one of the form of purchase of property. So International Accounting Standards require so that a tenant (leasee) notices the subject of leasing in his assests and correlationally with obligation. After that the subject of leasing can be amortized. Argument for this way of billing is the fact, that the tenant (leasee) obtaines economic gain from use of the subject of leasing during its essential economic lifetime. For it the tenant (leasee) has to pay an amount that is about equal to real value and financial costs.The companies recording leasing according to czech legal form this fact do not record in accounting so value of their assests and obligations is lower than their actual (true) value. This procedure disfigures financial indicators to be important for review of financial situation of company according to International accounting standardsBecause financial leasing is the most favourite form of leasing relation, the aim of this article is determination all changes in tax legislation to be related to financial leasing during three last years. And of course outline effect of these changes on the leasing market. |
| first_indexed | 2024-12-12T16:48:10Z |
| format | Article |
| id | doaj.art-f6634a759ecf4dd9ae641894ec7b24b5 |
| institution | Directory Open Access Journal |
| issn | 1211-8516 2464-8310 |
| language | English |
| last_indexed | 2024-12-12T16:48:10Z |
| publishDate | 2010-01-01 |
| publisher | Mendel University Press |
| record_format | Article |
| series | Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis |
| spelling | doaj.art-f6634a759ecf4dd9ae641894ec7b24b52022-12-22T00:18:26ZengMendel University PressActa Universitatis Agriculturae et Silviculturae Mendelianae Brunensis1211-85162464-83102010-01-01583556610.11118/actaun201058030055Comparison of financial leasing according to the Czech accounting legislation and IAS/IFRS including taximplicationsJana Gláserová0Milena Otavová1Ústav účetnictví a daní, Mendelova univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republikaÚstav účetnictví a daní, Mendelova univerzita v Brně, Zemědělská 1, 613 00 Brno, Česká republikaThere is intensive effort of the harmonisation of accounting in the world. Primary sence of harmonisation is ensured that individual financial statements of all accounting units were comparable. Notwithstanding there are still significant differences in same areas. This contribution is aimed at define of posting and showing financial leasing according to Czech accounting legislation and international accounting standards IAS/IFRS, and determination of significant differences in these legislation.The leasing is one of the form of purchase of property. So International Accounting Standards require so that a tenant (leasee) notices the subject of leasing in his assests and correlationally with obligation. After that the subject of leasing can be amortized. Argument for this way of billing is the fact, that the tenant (leasee) obtaines economic gain from use of the subject of leasing during its essential economic lifetime. For it the tenant (leasee) has to pay an amount that is about equal to real value and financial costs.The companies recording leasing according to czech legal form this fact do not record in accounting so value of their assests and obligations is lower than their actual (true) value. This procedure disfigures financial indicators to be important for review of financial situation of company according to International accounting standardsBecause financial leasing is the most favourite form of leasing relation, the aim of this article is determination all changes in tax legislation to be related to financial leasing during three last years. And of course outline effect of these changes on the leasing market.https://acta.mendelu.cz/58/3/0055/leasingfinancial leasinginternational Financial Accounting StandardsCzech accounting legislationincome taxvalue added tax |
| spellingShingle | Jana Gláserová Milena Otavová Comparison of financial leasing according to the Czech accounting legislation and IAS/IFRS including taximplications Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis leasing financial leasing international Financial Accounting Standards Czech accounting legislation income tax value added tax |
| title | Comparison of financial leasing according to the Czech accounting legislation and IAS/IFRS including taximplications |
| title_full | Comparison of financial leasing according to the Czech accounting legislation and IAS/IFRS including taximplications |
| title_fullStr | Comparison of financial leasing according to the Czech accounting legislation and IAS/IFRS including taximplications |
| title_full_unstemmed | Comparison of financial leasing according to the Czech accounting legislation and IAS/IFRS including taximplications |
| title_short | Comparison of financial leasing according to the Czech accounting legislation and IAS/IFRS including taximplications |
| title_sort | comparison of financial leasing according to the czech accounting legislation and ias ifrs including taximplications |
| topic | leasing financial leasing international Financial Accounting Standards Czech accounting legislation income tax value added tax |
| url | https://acta.mendelu.cz/58/3/0055/ |
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