Decree No. 251 / 2015 Coll.
Decree amending Decree No. 501 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are banks and other financial institutions, as amended
Valid
Order
Effective from 01.01.2016
Text versions:
01.01.2016
02.10.2015
251
DECLARATION
of 16 September 2015
amending Decree No. 501 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are banks and other financial institutions, as amended
According to § 37b (1) of Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 437 / 2003 Coll. and Act No. 304 / 2008 Coll.:
Decree No. 501 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are banks and other financial institutions, as amended by Decree No. 473 / 2003 Coll., Decree No. 545 / 2004 Coll., Decree No. 398 / 2005 Coll., Decree No. 350 / 2007 Coll., Decree No. 470 / 2008 Coll., Decree No. 420 / 2010 Coll., Decree No. 408 / 2012 Coll. and Decree No. 468 / 2013 Coll., is amended as follows:
1. In Article 1 (1), the words "shall be inserted after the words" European Union1) 'and shall be followed by the applicable European Union2).
footnotes 1 and 2 are as follows:
"(1) Council Directive of 8 December 1986 on the annual accounts and consolidated accounts of banks and other financial institutions (86 / 635 / EEC). Directive 2013 / 34 / EU of the European Parliament and of the Council of 26 June 2013 on the annual accounts, consolidated accounts and related reports of certain types of undertakings, amending Directive 2006 / 43 / EC of the European Parliament and of the Council and repealing Council Directives 78 / 660 / EEC and 83 / 349 / EEC.
(2) Regulation (EC) No 1606 / 2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards, as amended by Regulation (EC) No 297 / 2008 of the European Parliament and of the Council. ';
2. in Article 1 (1) (a), the words "and the procedure for the inclusion of entities in a consolidation unit" shall be deleted;
3. In Paragraph 2 (1), the words "(hereinafter referred to as" the securities dealer ") 'shall be added at the end of point (c).
4. footnote 8 is deleted.
5. In Article 2 (4), the words "with the exception of the provisions of Section 81a 'are deleted.
6. footnote 8a is deleted.
7. in § 3 (2), (3) and (5), § 4 (1), § 65 and § 66 (1), the words "on this decree" shall be deleted.
8. In Article 3, at the end of the text of paragraph 4, the words "the information in the Annex referred to in paragraphs 54 to 57 shall be inserted in the same order as the items in the balance sheet and the profit and loss account in Annexes 1 and 2 '.
9. In Paragraph 4 (2), "6 'is replaced by" 7'.
10. In Section 12, the words "as amended 'shall be added at the end of paragraph 4.
11. in Article 26, the words "constituted under special legislation" shall be deleted;
12. In Paragraph 28, the words "to own resources' shall be inserted after the word" subsidies'.
13. in Article 29 (2), the words "under special legislation" shall be deleted;
14. in Paragraph 44 (4), the words "acquired in primary emissions" are deleted.
15. In Section 48, at the end of the first sentence, the words "gifts and other free-of-charge transactions' shall be added.
16. in Paragraph 50 (1), the words "under a special law" shall be deleted;
17. in Paragraph 50 (3), the words "acquired in primary emissions" and the words "according to a special regulation" shall be deleted;
18. Title IV, including the title shall read as follows:
DETERMINATION OF THE ANNEX
(1) The Annex contains information on the accounting methods applied, at least on:
(a) the new accounting methods used compared to the previous period, the reasons for their application and the impact on the entity's financial result and equity;
(b) methods of valuation of assets and liabilities, methods used in determining the fair values of assets and liabilities, foreign currencies and rates used for converting foreign currencies into Czech currency;
(c) the time at which the accounting case is carried out, in particular information on the recognition of assets and liabilities in assets or liabilities at the time of the transaction or at the time of settlement of the transaction;
(d) depreciation procedures for fixed tangible and intangible assets;
(e) procedures for the accounting of securities transactions, derivatives, foreign exchange transactions, including the method of accounting for exchange differences, repurchase transactions, financial leasing, securitised assets and other instruments used for credit risk reallocation, pension plans and deferred taxes;
(f) the procedures for accounting interest income and costs, the means of reporting the income from at-risk claims, including interest, premiums and discounts arising from the acquisition of claims from third parties;
(g) methods and procedures for identifying classified assets, in particular receivables, amortisation methods, in particular receivables;
(h) the principles and procedures for calculating the amount of the adjustment appropriations and provisions, including an explanation of the underlying assumptions for their application;
(i) the effect of the collateral used on the valuation of the assets, in particular the receivables.
(2) In addition to the information referred to in paragraph 1, the Annex shall also include information on:
(a) long-term assets; the entity shall indicate for each group the total initial balance at the beginning of the period, the increments, losses, the total final balance at the end of the financial year, as well as similar information on the rights and weightings relating to those assets and, where applicable, the amount of interest if the entity decides that they are part of the valuation of the assets,
(b) assets that have been encumbered as collateral for their own liabilities or liabilities by third parties; the information should be sufficiently detailed to indicate, for each liability item and off-balance sheet item, the total values of the encumbered assets;
(c) the amount of loans, loans and liabilities separately for each of the following balance sheet items:
1.3b) and 4 assets and (1b), (2a), (2b) and (3b) liabilities broken down by their residual maturity, as follows: within three months, from three months to one year, from one year to five years and over five years,
2. for asset item 4, claims due on demand and redeemable within one year shall also be reported; where loans and loans or liabilities include repayment payments, the remaining maturity shall be the time between the balance sheet date and the date on which each individual instalment becomes due;
3. for asset item 5 and 3a, the liability shall be indicated as the proportion of assets and liabilities that become payable within one year of the balance sheet date;
(d) the total amount of liabilities, contingent liabilities and collateral provided, indicating their nature and form, which are not shown in the balance sheet; the pension liabilities and liabilities to consolidated entities, entities under joint influence and associated entities are reported separately,
(e) balance sheet item "7. Subordinated liabilities" for each liability exceeding 10% of the total amount of subordinated liabilities, in the structure of:
1. the amount of the liability, the currency in which it is expressed, the interest rate and the maturity date or the fact that it is a permanent item;
2. the existence of circumstances in which an earlier repayment is required;
3. the conditions of subordination, the existence of any provisions and arrangements governing the transfer of the subordinate liability to equity or other form of liability, and the conditions laid down therein;
4. a summary description of the rules governing other liabilities not exceeding 10% of the total amount of subordinated liabilities;
(f) valuation of financial instruments or assets other than financial instruments measured at fair value; the information shall include:
1. the significant assumptions on which the valuation models and techniques used are based, where the fair value has been established in accordance with Article 27 of the Law,
2. for each category of financial instrument or asset other than financial instrument measured at fair value, changes in value included directly in the profit and loss account and changes included directly in equity;
3. for each class of derivative financial instruments, details of their scope and nature, including the main conditions that may affect the amount, timing and security of future cash flows;
4. a table showing movements in valuation differences during the financial year;
(g) the amount of deferred tax at the end of the accounting year and its development;
(h) the depreciation period for goodwill.
(3) In the Annex, the entity shall also provide information on:
(a) the number and nominal value or, if they do not have a nominal value, the valuation in the financial statements of the shares subscribed during the financial year, with the limitation of the approved capital, without contrary to the provisions on its size;
(b) the number and nominal value or, if they have no nominal value, the valuation in the financial statements of each type of share, if there are more than one such species,
(c) the existence of provisional certificates, any priority shares, exchangeable and priority bonds, warrants or similar securities or related rights, indicating their number and extent of their rights;
(d) the nature and business purpose of an entity's transactions that are not included in the balance sheet and the financial impact of the transactions on the entity, where the risks or benefits of such transactions are significant and where disclosure of those risks or benefits is necessary to assess the entity's financial position;
(e) transactions that an entity has concluded with a related party, including the volume of such transactions, the nature of the related party relationship and other information on such transactions, which are necessary to understand the entity's financial position, provided that such transactions are significant and are not concluded under normal market conditions; information on individual transactions may be grouped according to their nature except where separate information is necessary to understand the impact of related party transactions on the entity's financial situation; the term "related party 'has the same meaning as in the international accounting standards referred to in § 19a of the Act,
(f) an entity's income shares related to items "1. Interest income and similar income," "3. Income on shares and shares," "4. Revenue from fees and commissions," "6. Earnings or losses on financial operations" and "7. Other operating income" means the profit and loss account, broken down by geographical location of the markets, depending on how significantly those markets differ from each other, taking into account the way an entity is organised; the information may not be provided if its disclosure would seriously harm any entity to which it relates; information on the application of this provision shall always be provided,
(g) exceptional costs and revenues, indicating their nature and amount;
(h) the proposed distribution of profits or settlement of losses, or the actual distribution of profits or settlement of losses.
(4) In the Annex, the entity shall also specify:
(a) the name and registered office of the consolidated entities or associated entities in which the entity itself, or through a third party acting on its behalf and on its behalf, holds a share, indicating the amount of that interest and the amount of the share capital, funds and the profit or loss of that entity over the last financial year; the information does not need to be provided if it is not significant; such equity information may also not be provided if it relates to an associate entity that is not required to disclose it and whose share of the least decisive influence on its capital is held by the entity in the manner set out above, or if its disclosure would seriously harm any entity to which it relates, with information on the application of this provision always being disclosed,
(b) the name, registered office and legal form of each of the entities in which the entity is a member with unlimited liability;
(c) the name and registered office of the consolidating entity which draws up the consolidated financial statements of the widest group of entities to which the entity as a consolidated entity belongs;
(d) the name and registered office of the consolidating entity that draws up the consolidated financial statements of the narrowest group of entities to which the entity as a consolidated entity belongs;
(e) the place where the consolidated accounts of the consolidated entities referred to in (c) and (d) may be obtained.
(5) In the Annex, the entity shall also provide information on:
(a) the average number of employees over the accounting year broken down by category as well as the personal costs for the accounting year broken down by wages and salaries, the social security costs with separate information on those relating to pensions and other administrative costs, provided that they are not separately included in the profit and loss account;
(b) the amount of remuneration awarded for the financial year to the members of the management and control bodies by reason of their duties, as well as the amount of pension liabilities incurred or contracted by the former members of the listed authorities, indicating the total for each category; the information need not be provided if its disclosure would enable the financial situation of a particular member of such an authority to be established;
(c) the amount of advances, deposits, loans and loans granted to members of management and control bodies, indicating the interest rate, the principal terms and any amounts paid, written-off or waived, the amount of all forms of collateral, together with the total for each category;
(d) the total cost of remuneration to the statutory auditor or audit firm for the financial year, broken down into statutory audit of accounts, other verification services, tax advice and other non-audit services; that information need not be disclosed where an entity is included in the consolidated financial statements, drawn up in accordance with Part Five, if that information is set out in the Annex to the consolidated financial statements.
Article 54 shall apply mutatis mutandis to investment companies and investment funds.
The cooperative advances shall apply Article 54 mutatis mutandis. In addition to this information, they shall indicate in the notes in the financial statements:
(a) the number of members of the cooperative reserve;
(b) the amount of the registered and unregistered capital;
(c) the amount of the member deposit;
(d) the amount of outstanding membership deposits;
(e) granted to persons under the Act governing the activities of savings and credit cooperatives;
(f) the nominal value of guarantees issued by the cooperative reserve as guarantees for loans to members provided by other persons;
(g) the total amount of the debts of the cooperative guarantee facility after maturity on the balance sheet date of the financial year;
(h) the total amount of the cooperative guarantee claims after maturity on the balance sheet date of the financial year.
Pension companies shall apply Paragraph 54 mutatis mutandis for their pension, participating and transformed funds. In addition to this information, they shall indicate in the notes in the financial statements:
(a) the number of participants in supplementary pension insurance and pension savings or supplementary pension savings;
(b) the number and amount of benefits paid;
(c) depositories of pension, participating and transformed funds;
(d) the amount of the evaluation of the appropriations entered;
(e) the procedure for establishing the pension provision.
Securities dealers shall apply Article 54 mutatis mutandis. In addition to this information, they shall also indicate in the notes the information required under the Capital Market Act. '
19. footnote 15 is deleted.
20. in Paragraph 68a (1), the words "special legislation" are replaced by the words "law governing the activities of investment companies and investment funds."
21. footnote 16 is deleted.
22. in Article 69 (5), the words "pursuant to Article 65" shall be deleted;
23. in Paragraph 70 (5) (c), the words "under special legislation" shall be deleted;
24. in Paragraph 70 (6), "6" is replaced by "5."
25. in Articles 70 (7) and 80 (6), the words "and at the time of drawing up the statements under specific legislation" shall be deleted;
26. in Article 78 (3), the words "No 586 / 1992 Coll., on tax" shall be replaced by the words "on taxes" and the words "as amended" shall be deleted;
27. in Article 78 (5), the words "paragraph 2" shall be deleted;
28. Article 81 shall be deleted;
29. Article 81a is deleted.
30. Paragraph 86 (1) reads as follows:
"(1) The Annex shall include in the consolidated financial statements the information required under Sections 54 and 55 to 57, respectively, for the purpose of assessing the financial situation of the consolidation unit, with adjustments resulting from the consolidation arrangements used pursuant to Section 82 (1) and the consolidation methods referred to in Section 82 (3) as compared to the financial statements, including the following adjustments:
(a) when reporting transactions between related parties, the transactions between related parties that are included in the consolidation and which are excluded from consolidation shall not be reported;
(b) the average number of employees during the accounting year shall be separately reported, the average number of employees employed by the consolidated entities using the proportional consolidation method;
(c) when reporting amounts of remuneration, advances, loans, debts and other claims, only amounts awarded by the consolidating entity and its controlled persons to the persons referred to in paragraphs 5 (b) and (c) of Paragraph 54 shall be reported. ";
31. in Article 86 (2) (c), the words "under Article 81 (2)" shall be deleted;
32. in Article 86 (2) (e), the words "under Article 81 (4)" shall be deleted;
33.In Paragraph 86 (2), the comma at the end of the text (g) is replaced by a dot and points (h) to (j) is deleted.
34. In Article 86, the following paragraph 3 is added:
"(3) An entity shall not disclose the information referred to in paragraph 2 if, by its nature, such information would seriously harm any entity that relates; the information on the omission of such data shall always be included in the notes in the consolidated financial statements. ';
Transitional provision
The provisions of Decree No 501 / 2002 Coll., as effective from the date of entry into force of the Order, shall apply for the first time in accounting periods beginning on or after 1 January 2016.
Efficacy
This Decision shall enter into force on 1 January 2016.
Minister:
Ing. Babiš v. r.
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Regulation Information
| Citation | Decree No. 251 / 2015 Coll., amending Decree No. 501 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are banks and other financial institutions, as amended |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 02.10.2015 |
|---|---|
| Effective from | 01.01.2016 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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