Government Decree No. 1 / 1951 Coll.
Regulation laying down the principles governing uniform valuation in the business sector
Valid
Effective from 01.01.1951
Contents
Část první.
Oddíl první.
§ 1.
§ 2.
§ 3.
§ 4.
§ 5.
Oddíl druhý.
§ 6.
§ 7.
§ 8.
§ 9.
§ 10.
§ 11.
Oddíl třetí.
§ 12.
Část druhá.
Oddíl první.
§ 13.
§ 14.
§ 15.
§ 16.
Oddíl druhý.
§ 17.
§ 18.
Oddíl třetí.
§ 19.
§ 20.
§ 21.
§ 22.
§ 23.
§ 24.
Oddíl čtvrtý.
§ 25.
§ 26.
Oddíl pátý.
§ 27.
§ 28.
Oddíl šestý.
§ 29.
§ 30.
Oddíl sedmý.
§ 31.
Oddíl osmý.
§ 32.
§ 33.
Část třetí.
Oddíl první.
§ 34.
§ 35.
Oddíl druhý.
§ 36.
Část čtvrtá.
§ 37.
§ 38.
§ 39.
§ 40.
§ 41.
§ 42.
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1.
Government Regulation
of 2 January 1951
laying down principles for uniform valuation in the company's accounting.
The Government of the Czechoslovak Republic orders pursuant to § § § 1 and 4 of Act No. 65 / 1949 Coll., on Valuation (hereinafter referred to as "the Act"):
Valuation prices in the company's totality.
Basic provisions.
The concept of appreciation.
Valuation in the company's totality means the expression of the value of assets and the determination and identification of liabilities, costs and proceeds in money.
Basic prices.
Valuation in the company's totality uses the prices planned, actual or reproductive.
Planned prize.
The planned price shall be the amount of money to be obtained or used in the business in the planning (accounting) period; it shall be established for internal purposes under the conditions contained in the business plan.
The real price.
The actual price shall be the amount of money obtained or used in the current (accounting, settlement) period; it is collected or derived from the economic activity of the undertaking or from facts found on the undertaking.
Reproductive price.
Reproductive price means the amount of money that would have to be spent on the date on which it is valued on a measure of the same property as that valued, after being comparable to it.
Types of prizes.
Shopping price.
The purchase price means the amount of money to be or to be spent or the amount of money to be spent on the purchase of the property; the purchase costs are not included in this price.
Cost.
(1) The acquisition price shall be the amount of money to be or to be spent or the amount of money to be spent on the acquisition of the property. Cost includes
(a) purchase of purchase price and acquisition-related costs (e.g. customs duties, other import costs, transport-related costs);
(b) on acquisition of production costs related to production (including the relevant share of the administrative director).
(2) The purchase price of capital goods also includes costs linked to its introduction into the state in which it is ready to be used in the enterprise (for example, the cost of installing the machine but not the cost of starting it). When the acquisition of capital goods by production may include both its cost and profit of production, provided that this is provided for by the binding valuation directives issued by the State Office planning pursuant to Article 2 (1) of the Act (hereinafter referred to as the "Directive ').
Selling price.
The selling price shall be the amount of money to be or to be achieved or the amount of money to be obtained when the property is sold.
Nominal price.
Nominal price means the amount of money to which the property (e.g. cash) or liability is payable.
Payout price.
The payout price shall be the amount of money to be paid by contract or for any other legal reason or obligation.
Nature of the different types of prices.
The purchase, purchase, sale and nominal prices may be planned and actual; purchase and purchase prices may also be reproductive. The payment price shall be the nature of the price planned.
Currency at valuation.
(1) Property, liabilities, costs and revenues are listed in the Czechoslovak crowns in the company accounts; with the exception of the opening balance sheet (Section 32), the balance sheet and the accounts may include assets, liabilities, costs and revenues in the relevant foreign currency in the company's totality of undertakings that are in trade with a foreign country.
(2) The foreign currency is converted into crowns by the Czechoslovak course under which it is to be completed, if applicable.
Valuation in accounting, accounting and financial statements.
Investment property.
Valuation principle.
(1) Investment assets the acquisition of which is planned in the balance sheet period are valued at the planned cost in the balance sheet.
(2) In accounting and financial statements, capital goods are valued at the actual cost. where an undertaking has acquired capital goods from its own products, the production of which is part of its normal production activity, it shall be valued at the intended cost, if that price does not exceed CZK 100,000 per component of capital goods.
Excluded investment property.
The disposal of capital goods is valued in the accounting, accounting and financial statements,
(a) where it is intended for consumption on the holding as material, the intended purchase price of material of the same type and quality;
(b) where it is intended for sale, the planned selling price reduced by the cost of preparing for sale and the cost of selling, where the price thus adjusted is lower than the remaining accounting price.
Deficits.
The price of the capital goods pursuant to Section 13 must be corrected by depreciation for the balance sheet and for the accounts of the operating accounts, in particular with regard to its business fitness. For land and permanent crops (e.g. forests), depreciation is not carried out. Details of depreciation are laid down in the Directives.
Damage to investment property.
The damage incurred in the capital goods shall be expressed in the accounts and in the accounts by a corresponding reduction in its price.
Stocks.
Valuation principle.
(1) Material (basic material, auxiliary and operating substances), animals, commercial goods and small and short-term items are valued
(a) in the balance sheet, the intended cost;
(b) in financial and operational accounts and for financial statements, the actual cost; Directives may provide that such stocks are to be valued at the intended cost in financial and operational accounts and for short-term financial statements and that their valuation is to be converted into a valuation at the actual cost by reporting price deviations,
(c) in stock accounts, the intended cost.
(2) The valuation of commercial goods in commercial undertakings, materials in construction companies and own-production material in undertakings in which several sectors or branches are represented may be adapted to the specific nature of the activities of those undertakings in the accounting, accounting and financial statements.
(3) Developed products and finished products are valued at the intended cost in the accounting, accounting and financial statements of the undertakings in which they are produced.
(4) The valuation of small and short-term articles in use shall take into account the use of such articles in the accounts and accounts.
(5) The excluded small and short-term items and waste are valued in the accounts, accounts and accounts,
(a) if they are intended for consumption on the holding as material, the intended purchase price of material of the same type and quality;
(b) if they are intended for sale, the planned selling price reduced by the cost of preparing for sale and the cost of selling.
Damages and differences in stocks.
(1) The damage incurred in the stocks shall be expressed in the accounts and accounts by a corresponding reduction in the prices of those stocks.
(2) Differences in inventories represent
(a) the cost of the current year, where there are stock losses;
(b) revenue from the current year, if it is for surplus stocks.
Financial assets and liabilities.
Cash.
Cash and cash goods shall be valued at the nominal price in the balance sheet, in the accounts and in the accounts; Where the nominal price differs from the payment price, the payment price shall be valued.
Claims and debts.
(1) Claims (including with claims on notes, cheques and other instruments, with the exception of depositing securities and shares) and other entitlements are valued at nominal prices in the accounting, accounting and financial statements; Where their nominal price differs from or does not have a nominal price, the payment price shall be valued. The same shall apply to the determination of debts and other liabilities in the balance sheet and to their accounting and financial statements.
(2) The damage suffered by the claims and the amount of which is known shall be expressed in the accounts and for the accounts corresponding to a reduction in the prices of those claims. If the amount of damage to the claim is not known at the balance sheet date and cannot be ascertained even at the time of valuation, the price of the claim shall be corrected for the financial statements by an amount appropriate to the circumstances.
(3) Reimbursement of claims which have been written off as damages represents the proceeds of the financial year in which they were accepted.
(4) Undertakings which have ceased to exist other than through fulfilment constitute the income of the financial year in which they were found to have been destroyed.
(5) The accounts must be drawn up on the balance sheet date of the debt and debt to the extent laid down in the Directives.
Deferred claims and liabilities and provisions.
(1) For the calculation of outstanding claims and for the determination and detection of outstanding insurance obligations on insurance contracts (as well as parts of those claims and liabilities received or surrendered to reinsurance under reinsurance contracts), it shall be used in the balance sheet, accounting and financial statements of undertakings carrying out contractual insurance (reinsurance) payment prices according to the actuarial principles.
(2) In order to determine and identify undertakings' obligations to provide insurance benefits in the event of sickness, invalidity, old age and disability, it shall be used in the accounts, accounting and financial statements of the payment price according to the actuarial principles.
Transitional assets and liabilities.
Assets and liabilities to which overpayments and overpayments of costs or revenues correspond shall be entered in the balance sheet or in the accounting year (temporary assets and liabilities) in the balance sheet or in the accounts, as well as in the operating accounts, in the cash amount that is economically due.
(a) in the case of overpayments for future accounting or accounting periods;
(b) in the case of arrears until the accounting year or account year.
Proper assets and liabilities.
Assets and liabilities of an indefinite amount, which are economically included in the accounting or accounting (accounting) period (fixed assets and liabilities), shall be shown in the accounting or financial statements as well as in the operating accounts of the payment price. Any differences arising from their liquidation shall be accounted for in the financial year in which the liquidation took place.
Securities and participation.
(1) Depositing securities and shares which are not participations are valued at the actual purchase price in the balance sheet, in the accounts and in the accounts.
(2) Interests are valued at the planned cost in the balance sheet, the actual cost in the accounts and for the financial statements.
(3) The Ministry of Finance shall determine the rate of securities to be used as purchase prices for their valuation.
Costs and revenues.
Costs.
(1) For the determination of costs, the breakdown shall be used:
(a) for costs relating to the consumption of assets, the price intended for the valuation of such assets in the balance sheet;
(b) in the case of costs related to the use of the property, the rate fixed for the calculation of depreciation of the capital goods, in the case of an amount corresponding to the use of small and short-term items;
(c) in other cases, depending on the nature of the costs, the planned performance prices (rates) necessary for the planned economic activity of the undertaking, the tax or cash-based rates laid down in the relevant provisions.
(2) For the purposes of determining the costs in the accounts and for the accounts, in the cases provided for in paragraph 1, instead of the planned prices (rates) of actual prices (rates), the Directive may provide for a procedure similar to that laid down in Paragraph 17 (1) (b).
(3) Where this is necessary, in particular for the determination of the economy and the control of the management of the individual components of the undertaking, it shall be used for the determination of secondary costs in the operating accounts of the planned prices (rates).
Earnings.
(1) For the determination and for the determination of the income linked to
(a) the assets and other performance shall be valued at the planned selling price and at the actual selling price in the accounts and for the financial statements;
(b) with the activation of own-production assets, the same prices as those used in the valuation of such assets shall be used in the accounting, accounting and financial statements.
(2) For the determination and identification of other revenue, it shall be used in the calculation of the planned prices (rates) and in the accounting and financial statements of the actual prices (rates).
(3) Where this is necessary, in particular for the determination of the economy and the control of the management of the individual components of the undertaking, it shall be used for the identification of intra-corporate income in the operating accounts of the planned prices (rates).
Conformity of planned prices and economic results.
The match of the planned prizes.
The planned price, which is valued in the accounts, must correspond to the planned price in the company's budget, drawn up for the accounting period corresponding to the accounting (settlement) period.
Economic results match.
The total profit or loss of the undertaking, recorded in the operating accounts for all the accounting years of the financial year, shall be the same as that recorded in the financial accounts for the same financial year. The same principle applies to the conformity of economic results for a shorter period than annual (e.g. quarterly).
Consistency of valuation.
Consistency in accounting.
The valuation of assets and the determination of liabilities for the balance sheet, drawn up on the first day of the accounting year, shall be based on the stocks of assets and liabilities budgeted on the last day of the preceding accounting year and adjusted according to the expected, following changes already made to that date.
Consistency in accounting.
On the first day of each financial year - with the exception of the first valuation under this Regulation - the assets and liabilities shall be taken into account in the accounts in the amounts of money entered on the last day of the immediately preceding financial year.
Valuation for the inventory of assets and liabilities.
(1) For the inventory of assets and liabilities, assets shall be valued and liabilities recorded as for the financial statements; Directives may provide for a way of showing stock prices in connection with the adjustment referred to in Article 17 (1) (b).
(2) For the inventory of assets and liabilities drawn up on the date of establishment of the undertaking, the assets shall be valued and the liabilities recorded as for the opening balance sheet.
Valuation for opening balance sheet and in special cases.
Valuation for opening balance sheet.
(1) For the balance sheet drawn up at the date of establishment of the firm (opening balance), the capital goods, stocks and participation shall be valued at the date of establishment of the firm. Depositing securities and non-participating shares shall be valued at the replacement purchase price on the date of establishment of the holding.
(2) Assets other than those referred to in paragraph 1 shall be valued for the opening balance sheet in accordance with the valuation provisions for financial statements. The determination of liabilities shall be carried out in the same way as the determination of liabilities for the accounts.
(3) Where a newly set-up undertaking takes over assets which are in state or cooperative socialist ownership and which have already been valued in accordance with paragraphs 1 and 2, it shall apply to its valuation in the opening balance sheet of the acquiring undertaking the prices resulting from the valuation in the financial accounts of the donor undertaking. However, where the property is intended for another purpose in the recipient undertaking, it shall be revalued in accordance with paragraphs 1 and 2, taking into account the intended use. The first sentence shall also apply mutatis mutandis to the determination of liabilities.
Valuation in special cases.
Paragraph 32 (1) or (2) shall also apply.
(a) when the individual components of the property are incorporated and excluded in accordance with the relevant provisions, where those components of the property have not already been valued in the opening balance sheets or in the accounts of the management undertakings which are in state or cooperative socialist ownership;
(b) in the case of transfers and waivers under the relevant rules, where such commitments have not already been established in the opening balance sheets or in the accounts of the undertakings referred to in (a);
(c) in the case of free acquisition of property; and
(d) in cases which, according to the needs of the Single Economic Plan, may be laid down by the Directives.
Valuation in calculations and corporate statistics.
Valuation in the calculation.
Preliminary calculation.
Article 25 (1) and Article 26 (1) and (2) shall apply mutatis mutandis to the calculation of costs and revenues.
The resulting calculation.
(1) In order to determine the costs and revenues of the calculation order, the provisions of Sections 25 (2) and (3) and 26 of the final calculation apply mutatis mutandis.
(2) In order to check the implementation of the cost plan and the reduction of costs, directives may specify in which cases only actual prices must be used to determine costs and revenues in the resulting calculation.
Valuation in corporate statistics.
For the valuation of assets, and for the determination and detection of liabilities, costs and revenues in business statistics, the different types of prices shall be used according to the purposes of the valuation, in accordance with the provisions of Part Two and Part Three of Part One.
Final provisions.
Facts affecting valuation.
Valuation in the company's totality shall take into account the status of the subject matter of the valuation on the date to which it is valued and shall also take into account the facts known at the time of the valuation if they relate to that date.
Valuation differences.
(1) Differences arising from the first valuation under this Regulation against the valuation under existing regulations (valuation differences)
(a) do not form part of a tax base for undertakings managing assets which are State or cooperative socialist property;
Contents
Část první.
Oddíl první.
§ 1.
§ 2.
§ 3.
§ 4.
§ 5.
Oddíl druhý.
§ 6.
§ 7.
§ 8.
§ 9.
§ 10.
§ 11.
Oddíl třetí.
§ 12.
Část druhá.
Oddíl první.
§ 13.
§ 14.
§ 15.
§ 16.
Oddíl druhý.
§ 17.
§ 18.
Oddíl třetí.
§ 19.
§ 20.
§ 21.
§ 22.
§ 23.
§ 24.
Oddíl čtvrtý.
§ 25.
§ 26.
Oddíl pátý.
§ 27.
§ 28.
Oddíl šestý.
§ 29.
§ 30.
Oddíl sedmý.
§ 31.
Oddíl osmý.
§ 32.
§ 33.
Část třetí.
Oddíl první.
§ 34.
§ 35.
Oddíl druhý.
§ 36.
Část čtvrtá.
§ 37.
§ 38.
§ 39.
§ 40.
§ 41.
§ 42.
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Regulation Information
| Citation | Government Decree No. 1 / 1951 Coll., laying down principles for uniform valuation in the company's totality |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 12.01.1951 |
|---|---|
| Effective from | 01.01.1951 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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