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Overview of Differences between International …

Overview of Differencesbetween InternationalFinancial ReportingStandards and CzechAccounting Legislation20132 ContentsAuthors Comments4 financial Statements5 Property, Plant and Equipment10 Leases13 Borrowing Costs15 Investment Property16 Intangible Assets17 Inventories19 Share-based Payment21 Employee Benefits22 Provisions, Contingent Liabilities and Contingent Assets24 financial Instruments26 Non-current Assets Held for Sale and Discontinued Operations30 Revenue31 Construction Contracts34 Impairment of Assets35 Fair Value Measurement37 Income Taxes39 Consolidation and Business Combinations403 IntroductionInternational financial Reporting Standards (IFRS), a set of financial reporting standards issued by theInternational Accounting Standards Board (IASB) andrelated interpretations, rank among the most importantfinancial reporting standards in the world.

5 Financial Statements Related IFRSs and IFRICs: IAS 1 Presentation of Financial Statements IAS 7 Statement of Cash Flows IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors

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