Transition to IFRS
Act on accounting allows for the use of international accounting standards adapted by the European Union (“IFRS”) for accounting and the creation of financial statements by companies that:
- are issuers of securities traded on regulated European market, or
- have an obligation to create or be part of the creation of the consolidated financial statements in accordance with IFRS.
What are the benefits of using IFRS?
- higher level of consistency of financial statements for reporting purposes and financial statements prepared in accordance with Czech accounting standards
- financial statements are more understandable for foreign users
How can we help you?
- Advisory leading to fast and effective transfer to IFRS
- Analysis of present situation that will help you to decide whether to change to IFRS
- Setting format and structure of a financial statements template
- Preparation of financial statements in accordance with IFRS
- Training of employees and management in IFRS