Decree No. 202 / 1948 Coll.
Regulation establishing uniform budgetary principles
Valid
Effective from 05.08.1948
202.
Government Regulation
of 26 July 1948
laying down uniform accounting principles.
The Government of the Czechoslovak Republic hereby orders pursuant to § 1, § 1 and § 2 of the Act of 16 May 1946, No 116 Coll., on the Single Organisation of Corporate Councils (hereinafter referred to as "the Act"):
The tasks of accounting.
The breakdown organised under this Regulation shall:
(a) the positions and accounting records to be recorded in the calculation assumptions (Section 3);
(b) carry out a calculation check (§ 14).
(1) The analysis must provide evidence in particular for:
(a) a single economic plan;
(b) planned management, economy and control of the business's management;
(c) other fields of business.
(2) Decoupling must be in relation to other fields of business in order to allow for the mutual verification of their data.
Organisation of the accounting system.
Computing assumptions.
The cumulative assumptions reflect the situation and changes in assets and capital, costs, revenues and profits of the company to be achieved during the accounting period (Sections 11 and 19).
In determining the balance sheet assumptions, care must be taken to ensure that they are likely and achievable taking into account all economic activities of the company during the accounting period.
In particular, the calculation assumptions are based on the tasks that the undertaking has to carry out and implement the single economic plan during the accounting period.
(1) If the tasks assigned to the undertaking in the implementation and implementation of the single economic plan in the balance sheet period change substantially, the assumptions must be adjusted immediately after the official announcement of the change or its notification; the adjusted balance sheet assumptions shall be recorded either by performing new or corrected original balance sheet entries.
(2) According to the Economic Council guidelines, the General Secretariat of the Economic Council (hereinafter referred to as "the General Secretariat ') may set out in binding directives in accordance with the provisions of Paragraph 2 (1) of the Act (hereinafter referred to as" the binding directive') in which additional assumptions must be adjusted.
(1) The calculation assumptions are generally only set in cash amounts.
(2) The mandatory directives shall specify which accounting assumptions must be set in both cash amounts and quantities, according to the needs of the single economic plan.
Business budget.
(1) The company budget consists of individual budgets (Section 9) and the balance sheet accounts (Section 10), in which accounting assumptions are recorded.
(2) All economic activities of the company must be included in the company's budget during the accounting period if they are reflected in the accounting assumptions.
(3) The business budget must be drawn up in time to be the basis for the planned management of the enterprise during the financial year.
(1) The binding directives specify which budgets must be drawn up in enterprises of different sectors of the economy and what their minimum breakdown is to be.
(2) The budgets must be correctly spelled out according to their content and it must be clear which undertaking (s) they relate to and for which accounting periods they have been drawn up.
(1) On the basis of the budgets, a balance sheet consisting of a balance sheet and a profit and loss account must be drawn up.
(2) The computational balance sheet provides the estimated assets and capital on the date on which the accounting period ends.
(3) The calculation profit and loss account provides the estimated costs and revenues for the accounting period. it shall show the expected profit or loss of the undertaking over the accounting period.
(4) The mandatory directives provide for a minimum breakdown of the items in the balance sheet and the profit and loss account.
(5) The person (s) responsible for the management of the holding must sign the balance sheet by hand and attach the date on which the balance sheet was signed.
(1) The enterprise budget (§ 8 (1)) must be compiled for the accounting period
(a) the annual accounts covering the financial year in which the accounting assumptions are to be met;
(b) quarterly, unless otherwise specified in accordance with paragraph 3.
(2) The binding directives specify which budgets (Section 9 (1)) must also be drawn up for shorter accounting periods than quarterly, as well as the length of such accounting periods.
(3) The obligation laid down in paragraph 1 (b) may otherwise be adjusted, relieved or waived, taking into account the specific circumstances of each sector or group in the compulsory directives.
(1) It must be clear from the budgets or from the annexes to them, according to which supporting documents (economic, technical and other) have been provided for. These documents, which are necessary for the determination of the balance sheet assumptions, must be provided by the person (s) responsible for managing the undertaking.
(2) The Annexes referred to in paragraph 1 may also be common to several budgets where they relate to the same annual budget period.
The procedure for drawing up the farm budget, in particular with regard to the establishment and adjustment of budget assumptions, may be more detailed in the binding directives according to the needs of the Single Economic Plan.
Computer check.
(1) The computational assumptions and their fulfilment over the different accounting periods must be compared and the material differences between them recorded in writing and justified (accounting control).
(2) The details of the extent and manner of carrying out the accounting check are laid down in the mandatory directives.
Computing notes.
The calculations shall be arranged, understandable, clear and easily controllable.
(1) Computational entries must be made by ink, machine or other means guaranteeing the durability of the entries. It is also permitted to use ink pencils.
(2) Computational entries are not allowed to be made by shorthand.
(3) Computational entries may not be made either in whole or in part by unreadable crossing or otherwise.
Paragraphs 15 and 16 shall apply mutatis mutandis to the minutes on the balance sheet and to the entries in the annexes to the budgets.
The binding directives may specify which accounting entries may be made in the books containing accounting entries in accordance with the provisions of § 6, paragraph 3 of the Decree of 5 November 1946, No 205 Coll., laying down uniform accounting principles and under what conditions they may be made.
General and final provisions.
The mandatory directives may prescribe which accounting assumptions must be determined and captured for the entire period of the single economic plan being prepared or implemented and which provisions of this Regulation must be taken into account.
According to the needs of the Single Economic Plan, a uniform classification of performance can be prescribed in the binding directives (Section 3 of the Decree of 29 June 1948, No 165 Coll., laying down uniform calculation principles).
(1) Binding books or loose sheets, containing accounting entries, after the entry provided for in Article 14 and the annexes to the budgets, must be kept in place in an orderly manner for at least five years from the end of the annual accounting period to which they relate.
(2) Where new accounting entries have been made in the course of the adjustment of the accounting assumptions provided for in Article 6, binding books or loose sheets must be kept with them for the same period, containing the original accounting entries.
Small enterprises (§ 27 (2) of Decree-Law No 205 / 1946 Coll.) need not fulfil the obligations under § 8 to 13 if they will draw up budgets in the manner and in accordance with the models laid down in the binding directives.
The explanatory notes issued by the General Secretariat pursuant to the provisions of Section 2, paragraph 2 of the Act shall be published in the Official Journal and in the Official Journal.
The General Secretariat issues binding directives and explanatory notes pursuant to the provisions of § 2 of the Act after hearing the Central Council of Trade Unions and according to which economic sectors or which economic groups are to be governed by binding directives or explanatory notes, also after hearing the National Bank of Czechoslovakia, the Central Council of Cooperatives, the Central Association of Trade Unions, hospitality and transport, the Central Union of Finance, the Central Union of Industry, the Central Association of Slovak Industry, the Central Association of Crafts, the Insurance Board of Czech Farmers, the United Union of Slovak Farmers or the Chamber of Commerce and Industry in Bratislava.
The General Secretariat shall provide for a decree in the Official Gazette and in the Official Journal (Section 3 of the Act), in which it is required to comply with the provisions of this Regulation for a number of undertakings.
The acts and omissions which are contrary to the provisions of this Regulation or to the provisions laid down therein shall be punishable under the provisions of Section 5 of the Act.
This Regulation shall enter into force on the day of its publication; by the Prime Minister.
Zaporocký v. r.
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Regulation Information
| Citation | Government Decree No. 202 / 1948 Coll., laying down uniform accounting principles |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 05.08.1948 |
|---|---|
| Effective from | 05.08.1948 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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