Decree No. 349 / 2007 Coll.
Decree amending Decree No. 500 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are entities accounting in the system of double accounting, as amended
Valid
Order
Effective from 01.01.2008
349
DECLARATION
of 17 December 2007
amending Decree No. 500 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are entities accounting in the double accounting system, as amended
The Ministry of Finance provides pursuant to Section 37b of Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 437 / 2003 Coll., ("the Act ') for the implementation of Sections 4 (8), 24 (4) and (5) and 28 (1):
Decree No. 500 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are entities accounting for in the double accounting system, as amended by Decree No. 472 / 2003 Coll. and No 397 / 2005 Coll., is amended as follows:
1. § 1, including footnotes 1, 1a and 1b shall read:
This Regulation (1) implements the relevant provisions of the European Community1a and provides:
(a) the extent and method of drawing up the accounts; the structure, labelling and content of the items of assets and other assets, liabilities and other liabilities in the financial statements; the organisation, labelling and content of the costs, revenues and results of the financial statements; the structure and content of the explanatory and supplementary information in the Annex in the financial statements; the organisation, labelling and content of the items of consolidated financial statements; the methods of consolidation of financial statements and the procedure for the inclusion of entities in the consolidation unit;
(b) the organisation and content of the statement of cash flows and the statement of changes in equity; the indicative chart of accounts; accounting methods; the methods of transition from tax records under the Special Code (1b) to accounting.
1) It is issued on the basis and within the limits of the law, the content of which allows the relevant provisions of the European Communities to be incorporated by decree.
(1a) Fourth Council Directive of 25 July 1978, based on Article 54 (3) (g) of the Treaty, on the annual accounts of certain types of companies (78 / 660 / EEC), as amended by Council Directives 83 / 349 / EEC, 84 / 569 / EEC, 89 / 666 / EEC, 90 / 604 / EEC, 90 / 605 / EEC, 94 / 8 / EC, 1999 / 60 / EC, 2003 / 38 / EC and Directives 2001 / 65 / EC, 2003 / 51 / EC, 2006 / 43 / EC and 2006 / 46 / EC of the European Parliament and of the Council. Seventh Council Directive of 13 June 1983, based on Article 54 (3) (g) of the Treaty on consolidated accounts (83 / 349 / EEC), as amended by Council Directives 89 / 666 / EEC, 90 / 604 / EEC, 90 / 605 / EEC and Directives 2001 / 65 / EC, 2003 / 51 / EC, 2006 / 43 / EC and 2006 / 46 / EC of the European Parliament and of the Council.
1b) Act No. 586 / 1992 Coll., on Income Tax, as amended. '
Footnotes 1a to 1c shall be renumbered as footnotes 1c to 1e, including the footnotes.
2. In the first sentence of Article 4 (7), the words "the assets of which are declared bankrupt in the current accounting year 'are replaced by the words" bankruptcy' and the words "bankruptcy declaration 'are replaced by the words" bankruptcy decision'.
3. In Paragraph 4 (10), "up to 8 'is replaced by" up to 10';
4. In Paragraph 4 (11), after the first sentence, the sentence "Entities with a total asset amount of CZK 10 billion (net) and higher may report individual items in whole millions of CZK; that fact must be stated in all parts of the accounts. ';
5. in Article 6 (2), the words "technical evaluation3)" are replaced by the words "technical evaluation2a)";
Footnote 2a reads:
"2a) § 32a of Act No. 586 / 1992 Coll., on Income Tax, as amended."
6. in Article 6 (3) (e), the words "and emission reduction units and verified emission reductions from project activities (5a)" shall be inserted after the words "gas 5a";
Footnote 5a:
"(5a) Paragraph 2 (1) of Act No. 695 / 2004 Coll., on the terms and conditions of greenhouse gas emission allowance trading and amending certain laws, as amended by Act No. 212 / 2006 Coll. '.
7. In Article 6, the following paragraph 9 is added:
"(9) Long-term intangible assets are not in particular expert opinions, market surveys, development plans, proposals for promotional and advertising actions, certification of the quality system 5c) and software for technology management or for devices that cannot function without this software. In addition, an entity may decide that long-term intangible assets are not primarily technical audits5d) and energy audits5e), forest economic plans5f) and guide5g).
5c) For example Act No. 22 / 1997 Coll., on Technical Requirements for Products and on the amendment and addition of certain laws, as amended.
5d) For example, Act No. 274 / 2001 Coll., on water and sewage for public use and on the amendment of certain laws (Water and Sewerage Act), as amended, and other related laws.
5e) For example Act No. 406 / 2000 Coll., on Energy Management, as amended.
5f) For example Act No. 289 / 1995 Coll., on Forests and on the amendment and addition of certain laws (Forest Act).
5g) For example, Act No. 254 / 2001 Coll., on Water and on the Change of Certain Laws (Water Act), as amended. '
8. Paragraph 7 (5) reads as follows:
"(5) Item" B.II.5. Adult animals and their groups "contain adult animals and their groups (for example, herds, flocks), with a shelf life of more than one year and from the amount of the valuation determined by the entity, in compliance with the obligations laid down by law, in particular by respecting the principle of significance and fair and fair display of property. For adult animals and their groups with a shelf life of more than one year not reported under" B.II.5.. Adult animals and their groups "shall be accounted for as stocks."
9. In the first sentence of Paragraph 7 (10), the words "the seller, the depositing or the dying entities' are replaced by the words" the entity that sells, inserts, announces or distributes by segregation '.
10. in Article 9 (1), the dot at the end of point (f) is replaced by a comma and the following points (g) and (h) are added:
"(g) separate movable goods and sets of movable goods with a shelf life of more than one year, not declared under" B.II.3. Separate movable goods and sets of movable goods', considered to be small tangible property that an entity accounts for as stocks,
(h) experimental animals 12c).
12c) For example Act No. 246 / 1992 Coll., to protect animals against abuse, as amended. '
11. in Article 9 (2) (a), the words "product, unfinished performance of other activities" are replaced by the words "product; this item also contains unfinished activities."
12. in Section 9, paragraph 4, including footnote 12d:
"(4) The entry" C.I.4. Young and other animals and their groups "includes animals and their groups, including animals for slaughter 12d) not reported under" B.II.5. Adult animals and their groups, "" C.I.1. Material "and" C.I.5. Goods'.
12d) For example, § 3 (1) (d) of Act No. 166 / 1999 Coll., on Veterinary Care and on the Amendment to Related Laws (Veterinary Act), as amended, § 2 (a) and (b) of Decree No. 375 / 2003 Coll., implementing certain provisions of Act No. 166 / 1999 Coll., on Veterinary Care and on the Amendment to Certain Related Laws (Veterinary Act), as amended, and on Animal Products Veterinary Requirements, as amended. '
13. in Paragraph 9 (5):
"(5) Item" C.I.5. Goods "includes movable goods, including animals, acquired for sale if an entity trades in such goods. The entry also includes products of own production which have been activated and handed over to their own stores, and animals of their own stock which have matured have been activated and are intended for sale except for slaughter animals 12d). The item also includes real estate that an entity that is engaged in the purchase and sale of real estate purchases for the purpose of sale and does not itself use, lease and make technical assessments. '
14. In Article 9, the following paragraph 7 is added:
"(7) Stocks shall be accounted for on an ongoing basis by A or periodically by B. For method A, stocks shall be charged during the accounting year using accounts in account class 1. For method B, in account class 1: Stocks shall be charged at the end of the balance sheet day on the basis of stock stocks according to stock records. Method B may be used by entities only if they ensure that the stock records are documented in such a way that they are able to demonstrate the stock situation during the accounting year, including the valuation of these stocks by law. '
15. in Articles 10 (7) and 17 (7), the word "for example" shall be inserted after the word "established."
16. in Articles 13 (1) and 19 (1), second sentence, the words "at the time of their accounting" shall be inserted after the words "they are."
17. in Articles 16 (4), 48 and 50, the word "direct" shall be deleted;
18. in Paragraph 21 (b), "animals" is replaced by "young and other animals and their groups."
19. In Article 27, the word "received 'is deleted and the words" or to cover other economic harm 13a' are inserted after the word "costs'.
Footnote 13a reads:
"13a) For example, Government Regulation No 337 / 2006 Coll., on the establishment of certain conditions for the implementation of measures of the common organisation of the markets in the sugar sector, as amended by Government Regulation No 44 / 2007 Coll. '
footnote 13a shall be renumbered footnote 13b, including the footnote references.
20. In Paragraph 28, the words "and their numerical indication in the permit register 13c) 'shall be added at the end of the third sentence.
footnote 13c reads:
"13c) § 9 of Act No. 695 / 2004 Coll., on the Conditions of Trade in Greenhouse Gas Emissions Allowances and on the Amendment of Certain Acts, as amended by Act No. 212 / 2006 Coll. '.
21. In Paragraph 39, at the end of paragraph 6, the sentence "The entity shall further disclose the species of animals that are recognised as long-term tangible property and stocks."
22. In the first sentence of Paragraph 39 (7), the words "having regard to the principle of materiality of small intangible and tangible assets not included in the balance sheet (balance sheet) 'and the words" the total amount of liabilities not shown in the balance sheet (balance sheet)' are deleted.
23. In Paragraph 39, the following paragraphs 9 to 11 are inserted after paragraph 8:
"(9) In the next part of the Annex, an entity shall disclose information that is not shown in the balance sheet (balance sheet):
(a) the total amount of liabilities if this information is relevant to the assessment of the entity's financial position;
(b) having regard to the principle of significance for small intangible and tangible assets,
(c) the nature and commercial purpose of an entity's operations where the risks or benefits from such operations are significant and where disclosure of such risks or benefits is necessary to assess the entity's financial situation. Entities that keep accounts in full shall also disclose the financial impact of such operations on the entity.
(10) In the next part of the Annex:
(a) an entity that keeps accounts to a simplified extent, information on transactions 13d) made directly or indirectly between the entity and its majority interests 12a) or the entity and members of the administrative, management and supervisory bodies that are necessary to understand the financial situation of the entity where such transactions are significant and are not concluded under normal market conditions;
(b) an entity that keeps accounts in full, information on transactions 13d) 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 that is necessary to understand the financial position of the entity, provided that such transactions are significant and are not concluded under normal market conditions; the term "related party 'has the same meaning as in the international accounting standards governed by European Community13e).
Information on individual transactions may be grouped according to their nature except where separate information is necessary to understand the impact of transactions on the entity's financial situation. The information referred to in points (a) and (b) is not required to be provided by an entity if the transactions have been made between the entity and the member to whom they are fully owned.
(11) In the next part of the Annex, the entity shall separately disclose the total cost of remuneration to the statutory auditor (13f) or audit firm for the financial years, broken down into:
(a) the statutory audit 13g) the accounts;
(b) other verification services;
(c) tax advice;
(d) other non-audit services.
This information is not required to be provided by an entity when an entity is included in the consolidated financial statements drawn up in accordance with Part Five, if that information is included in the consolidated financial statements of that consolidated entity or persons.
13d) Article 43 (1) (7b) of Directive 78 / 660 / EEC, as amended by Directive 2006 / 46 / EC.
13e) Article 43 (1) (7b) of Directive 78 / 660 / EEC, as amended by Directive 2006 / 46 / EC. Regulation (EC) No 1606 / 2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards.
13f) Article 2 (2) of Directive 2006 / 43 / EC of the European Parliament and of the Council.
13g) Article 2 (1) of Directive 2006 / 43 / EC of the European Parliament and of the Council. '
Paragraphs 9 to 11 shall be renumbered paragraphs 12 to 14.
24. in Article 47, the title reads: "Methods of valuation of long-term intangible and tangible assets and the definition of the costs associated with its acquisition."
25. in Article 47 (1) in the introductory part of the provision, the word 'are' is replaced by 'is the price at which the property was acquired and';
26. in Paragraph 47 (1) (i), including footnotes 14a to 14c, the following shall be added:
"(i) reimbursement of the costs of translating14a), 14b) and 14c) to an entity having the right to property in question or managing the property of the State or the property of the local authorities;
14a) For example, Act No. 458 / 2000 Coll., on the Terms and Conditions of Business and on the Enforcement of Government Administration in the Energy Sector and on the Amendment of Certain Laws (Energy Act), as amended, and Act No. 274 / 2001 Coll., on Water and Sewerage for Public Use and on the Amendment of Certain Laws (Water and Sewerage Act), as amended.
14b) For example Act No. 127 / 2005 Coll., on Electronic Communications and on the amendment of certain related laws (Act on Electronic Communications), as amended.
14c) For example Act No. 13 / 1997 Coll., on Road, as amended. '
27. in Paragraph 47 (2), including footnote 14d:
"(2) In particular, the evaluation of long-term intangible and tangible assets and technical assessments shall not include:
(a) repair and maintenance. By repair, the effects of partial physical wear or damage shall be removed for the purpose of putting into a previous or operational condition. Placing in an operational condition means making a repair using materials, parts, components or technologies other than originating materials, parts or technology, provided that this does not result in a technical evaluation. Maintenance means continuous operation which slows down physical wear and prevents defects and eliminates minor defects,
(b) the cost of letting the lessee put the hired assets in the previous state;
(c) exchange rate differences;
(d) contractual fines and interest on late payments and, where appropriate, other penalties on contractual relations;
(e) rent for the building plot on which the construction is carried out (14d);
(f) costs of training staff;
(g) the cost of equipping purchased fixed assets with supplies;
(h) the cost of biological reclamation;
(i) costs associated with the preparation and security of fixed assets incurred after the acquisition of fixed assets.
14d) § 6 of Act No. 338 / 1992 Coll., on Real Estate Tax, as amended. '
28. in Article 47 (3), the words "technical evaluation3)" are replaced by the words "technical evaluation2a), (3)";
29. In the first sentence of Paragraph 47 (4), the word "provided 'is deleted.
30. In the second sentence of Article 47 (4), the words "directly or indirectly granted 'are replaced by the words" provided directly or indirectly'.
31. in the third sentence of Article 47 (4), the words "provided to accounting entities" shall be deleted;
32. In Sections 48, 50 to 53a, 55, 57 to 60 and Part Five in the headings, the words "(K § 4 (8) of the Act)" shall be deleted.
33.
Means of valuation of stocks and definition of costs related to their acquisition
(1) The purchase price of stocks also includes costs related to their acquisition, in particular the transport charges charged by the supplier or performed by the entity, commissions, duties and insurance. The purchase price of stocks does not include, in particular, interest on loans and loans granted for their acquisition, exchange rate differences, contractual fines and interest on late payments and other penalties on contractual relations.
(2) The cost of adjusting the material or goods stored is considered as related to the acquisition of stocks and increases the valuation of stocks.
(3) If, for the same type of stock, the pricing arrangements are used by a price that is based on the valuation of their losses by a price determined in accordance with the provisions of Paragraph 25 (3) of the Act, then only one valuation method must be used within one stock analysis account; where a weighted arithmetic average is used, it shall be calculated at least once a month.
(4) Uninvoiced deliveries shall be valued according to the contract concluded, or other documents available to the entity.
(5) The actual cost is either the actual cost or the cost according to the method of calculating the production determined by the entity. Production means other activity in which physical products are not produced. By way of derogation, entities may value stocks of their own production that are unfinished production, semi-finished products and products
(a) in production with a short-term continuous cycle, production not completed only by direct material costs and products or semi-finished products by direct material and wage costs;
(b) in mass and mass production, only direct costs, which are costs of direct material, semi-finished products, direct wages and other direct costs;
(c) in small-scale, piece or custom production and in production with a long-term cycle of direct costs, production direction and, where the production cycle exceeds 12 months exceptionally, administrative direction. "
34. In Paragraph 52, the following paragraph 7 is inserted after paragraph 6:
"(7) If a derivative is part of a financial instrument, an entity shall determine whether it will charge for the embedded derivative separately 15a) or whether it will use the option to not charge for the embedded derivative.
15a) For example Article 6 of Decree No. 501 / 2002 Coll., as amended. '
Paragraph 7 shall become paragraph 8.
35. In Article 53, the following paragraph 2 is inserted after paragraph 1:
"(2) If a derivative is part of a financial instrument, an entity shall determine whether it will charge for the embedded derivative separately 15a) or whether it will use the option not to charge for the embedded derivative. ';
Paragraph 2 shall become paragraph 3.
36.
Valuation differences in fair value for the transformation of an entity
If the Commercial Code requires a valuation of the commercial currency (16), then the differences between the valuation pursuant to Article 25 of the Act or Article 27 of the Act and the valuation of the fair values for the entities of the merging entity or parts of the entity divided by the separation shall be accounted for in conjunction with the respective accounts of the account group 41 reported under item "A.II.4. Valuation differences in revaluation adjustments" except for the relevant components of assets and liabilities for which changes in fair value are recognised as financial cost or financial income, or the relevant components of assets and liabilities for which changes in fair value or changes in fair value are recognised through the relevant account of the group 41 reported under item "A.II.3. Valuation differences in revaluation of assets and liabilities'.
16) For example, Articles 69 (8) and 69a (6) of Act No. 513 / 1991 Coll., as amended. '
37. in Paragraph 55 (3), the words "in the following period" shall be deleted.
38. In Section 56 of the title, the words "(K § 4 (8) and § 28 (1) of the Act) 'are deleted.
39. in the first sentence of Paragraph 56 (1), the words "in § 47, 61, 61a" shall be inserted after the words "in § 25" and "27."
40. In Section 61 of the title, the words "(K § 4 (8) and § 24 (4) and (5) of the Act) 'are deleted.
41. in Article 61a of the title, the words "(K 24 paragraphs 4 and 5 of the Act)" shall be deleted.
42. In Paragraph 61b (2), the second sentence is replaced by the sentence "For long-term depreciation of intangible and tangible assets, the entity shall draw up depreciation plans in accordance with Paragraph 28 (6) of the Act. The rate of adjustments shall be the sum of depreciation which would be charged according to the depreciation plan for the period of use until the date of transfer from the tax register to accounting. ';
43. In Paragraph 62 (6) (c), the words'; an officially certified translation is required 'shall be deleted.
44. in Paragraph 67, point (e) is deleted;
Points (f) to (k) shall be renumbered as points (e) to (j).
45. in Paragraph 67, at the end of point (j), the dot is replaced by a comma and the following points (k) to (m) are added:
"(k) the nature and commercial purpose of the transactions which are not included in the consolidated balance sheet and the financial impact of those operations where the risks or benefits of those operations are significant and where the disclosure of those risks or benefits is necessary to assess the financial situation of the consolidation unit;
(l) transactions 18a) except for transactions within a consolidation entity that have been concluded with a related party by a consolidated entity or other consolidated entities, including the volume of such transactions, the nature of the related party relationship and other information on such transactions that are necessary to understand the financial situation of the consolidation entity, 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 financial situation of the consolidation entity; the term "related party 'has the same meaning as in international accounting standards governed by European Communities law (18b);
(m) separately information on the total remuneration costs to statutory auditors 13f) or audit firms over the financial year broken down into:
1. statutory audit 13g) annual accounts;
2. other verification services;
3. tax advice,
4. other non-audit services.
18a) Article 34 (7b) of Directive 83 / 349 / EEC, as amended by Directive 2006 / 46 / EC.
18b) Article 34 (7b) of Directive 83 / 349 / EEC, as amended by Directive 2006 / 46 / EC. Regulation (EC) No 1606 / 2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards. ';
46. In Annex 1, in "ACTIVITIES ', under entry B.II.5., the words" Basic herds and towing animals' are replaced by the words "Adult animals and their groups'.
47. in Annex No 1, in "ACTIVITIES" under heading C.I.4., the word "Animals" is replaced by "Young and other animals and their groups."
48. In Annex 4, in "Accounting Section 5 - Costs', in the account group 55, the words" Departures, provisions, complex costs of future periods and operational adjustments' are replaced by the words "Departures, provisions, complex costs of future periods and operating adjustments'.
49. In Annex 4, in "Accounting Section 5 - Costs', in the account group 57, the words" Provisions and adjustments for financial costs' are replaced by the words "Provisions and adjustments in the financial field '.
Transitional provisions
1. The provisions of this decree shall be applied by the entities for the first time in accounting periods beginning on or after 1 January 2008, unless otherwise specified in point 3.
2. entry "B.II.5. Adult animals and groups thereof" includes also animals included until the entry into force of this Order under the heading "B.II.5. Basic herd and towing animals' and entry" C.I.4. The young and other animals and their groups "shall also include the animals reported until the entry into force of this Decree under the heading" C.I.4. Animals', until they are eliminated.
3. Article I (22), (23) and (45) shall apply to entities for financial statements and consolidated financial statements prepared on or after 29 June 2008.
Efficacy
This Decree shall take effect on 1 January 2008, with the exception of Article I (22), (23) and (45), which shall take effect on 29 June 2008.
Minister:
Ing. Kalousek v. r.
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Regulation Information
| Citation | Decree No. 349 / 2007 Coll., amending Decree No. 500 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are entrepreneurs accounting in the dual accounting system, as amended |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 21.12.2007 |
|---|---|
| Effective from | 01.01.2008 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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