Important dates

18.9.2017 - 15.12.2017 - Fall semester 2017

17.10.2017 - 19.10.2017 - Job Fair Šance

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Czech National Accounting Board

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Faculty of Finance and Accounting at the University of Economics in Prague became one of initiators to establish an independent national accounting body, the Czech National Accounting Board, in 2001. Beside the faculty, the Board was established by the initiative of Czech accountants, the Chamber of Auditors and the Chamber of Tax Advisors. At the beginning of their existence, the main aim of this body was to support the development of accountancy toward an independent respected profession in the Czech Republic, to establish a chamber of accountants, and to participate in the process of issuing national accounting standards developed through a formal system of due process.

The fact that some of IFRS practice, rules and measurement were implemented, mostly incompletely, into the Czech accounting standards leads the Czech National Accounting Board to decision issue interpretations of the Czech accounting standards. Interpretations would provide timely guidance on financial reporting issues not specifically addressed in the Czech accounting standards, issues differently treated in compliance with Act on Accounting and the Czech accounting standards or issues that lead to different treatment. Selected topics of interpretations: Temporary differences in initial recognition of assets; Temporary differences in combination; Income tax provision; Deferred taxes on temporary differences arising from equity method measurement; First recognition of deferred taxes; Factoring; Comparability of accounting information in subsequent years; Accounting for responsibilities as for quality of service; Accounting for grant and governmental assistance and the others.

National Accounting Board has its own websites: www.nur.cz