Decree No. 401 / 2005 Coll.
Ordinance amending Decree No. 505 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are local authorities, contributory organisations, state funds and organisational elements of the State, as amended
Valid
Effective from 05.10.2005
Text versions:
01.01.2006
05.10.2005
401
DECLARATION
of 22 September 2005
amending Decree No 505 / 2002 Coll., implementing certain provisions of Act No 563 / 1991 Coll., on Accounting, as amended, for entities that are local authorities, contributory organisations, state funds and state organisational units, as amended
According to Section 37b of Act No. 563 / 1991 Coll., on Accounting, as amended, ("the Act '), the Ministry of Finance provides for the implementation of Sections 4 (8), 24 (4) and (5) and 28 (1):
Decree No. 505 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are local authorities, contributory organisations, state funds and organisational elements of the State, as amended by Decree No. 477 / 2003 Coll. and Decree No. 549 / 2004 Coll., is amended as follows:
1. In footnote 3, the words "Act No 77 / 1969 Coll., on the State Fund for Land Fertilisation. 'are deleted.
2. in Article 5, the following paragraphs 3 and 4 are inserted after paragraph 2:
"(3) In the third column of assets and liabilities for the individual items of the balance sheet (balance sheet), the Ministry of Finance (" the Ministry ') provides information on its status as at 1 January under Act No. 178 / 2005 Coll., on the abolition of the National Property Fund of the Czech Republic and on the jurisdiction of the Ministry of Finance in the privatisation of the assets of the Czech Republic ("the Act on the abolition of the Fund').
(4) In the fourth column of assets and liabilities for each item of the balance sheet (balance sheet), the Ministry shall provide information on its financial position at the time of drawing up the interim financial statements 5), 6) or on the balance sheet date in accordance with the Financial Regulation. ';
Paragraphs 3 and 4 shall become paragraphs 5 and 6.
3. In Paragraph 7 (1), the sentence "It also contains emission allowances and preferential limits' is inserted after the first sentence.
4. In Article 7 (4), at the end of point (b), the dot is replaced by a comma and the following points (c) and (d) are added:
"(c) emission allowances for greenhouse gas emission allowances 7a) irrespective of the amount of the valuation;
(d) preferential limits, in particular individual reference quantities of milk (7b), individual production quotas (7b) and individual limit of premium rights (7b) irrespective of the amount of the valuation; for the first holder (7b) only if the cost of obtaining information on their valuation of the replacement purchase price would not exceed its significance.
7a) Paragraph 2 (1) of Act No. 695 / 2004 Coll., on the terms and conditions of greenhouse gas emission allowance trading and amending certain laws.
7b) For example, Act No. 256 / 2000 Coll., on the State Agricultural Intervention Fund and amending certain other laws (Act on the State Agricultural Intervention Fund), as amended by Act No. 128 / 2003 Coll., Act No. 41 / 2004 Coll., Act No. 85 / 2004 Coll., Act No. 237 / 2004 Coll., Act No. 482 / 2004 Coll., Decree No. 244 / 2004 Coll., on the establishment of closer conditions for the application of the levy in the milk and milk products sector under the common organisation of the market in milk and milk products, as amended by Decree No. 517 / 2004 Coll., and Decree No. 196 / 2005 Coll., on the establishment of certain conditions for the implementation of premium rights for cow without market production of milk and, where applicable for milk. '
5. In Article 7 (9), the words "in particular emission allowances and preferential limits, irrespective of the valuation level," shall be inserted after the words "items."
6. the following Section 9a is inserted after Section 9:
(1) Item "A.6. The property taken over for privatization No 204" contains the assets taken over for privatisation under the act abolishing the Fund.
(2) Item "A.6. Property taken over for privatisation in lease No 205" contains assets taken over for privatisation under the Act on the abolition of the Fund, not yet privatized, leased under concluded lease contracts. '
7. In Paragraph 10, at the end of paragraph 1, the phrase "Item 'A.4 is added. The certificates for other fixed tangible assets No 32" contain, with the Ministry, the rights of the assets taken over for privatisation in the lease (carried out before the takeover) pursuant to the Act repealing the Fund. "
8. in Article 12, the following paragraph 8 is inserted after paragraph 7:
"(8) Item" B.2. Claims abroad No 207 "shall include, in accordance with the Act on the abolition of the Fund, amounts receivable for debtors who have their head office abroad on completion of the supply within the meaning of the relevant provisions of the Commercial Relations Agreement. The heading" B.2. Domestic claims No 208 "shall include, with the Ministry, claims on domestic debtors under the Act on the abolition of the Fund, upon completion of supplies within the meaning of the relevant provisions of the contract in the field of commercial relations. '
Paragraphs 8 to 12 shall be renumbered paragraphs 9 to 13.
9. At the end of the text of Section 13, the words "and at the Ministry under the Act on the abolition of the Fund, securities and shares in limited liability companies and deposits in foreign currency in domestic banks' are added.
10. In Paragraph 16 (1), the sentences second and third are replaced by the sentences "Item" C.1. The long-term assets fund No 127 "includes the creation of resources for funded long-term intangible, tangible and financial assets, including free-of-charge retained or donated fixed assets, for the organisational units of the State and the local authorities; it also includes the creation of resources for emission allowances and preferential limits, such as gains in fixed intangible assets and losses in the event of consumption, sale or other loss of assets. For contributory organisations, the item" C.1. Long-term assets fund No 127 'shall include the creation of resources for funded long-term intangible and tangible assets, including non-remunerated or donated fixed assets; it shall also include the creation of resources for emission allowances and preferential limits, such as gains in fixed intangible assets and losses in the event of consumption, sale or other loss of assets.';
11. In Paragraph 16, at the end of paragraph 1, the words "Item 'C.1 are added. The privatization fund No 211" contains a source of privatisation at the Ministry under the act to abolish the Fund. Item "C.1. Other Funds No 212" contains additional financial resources for the Ministry under the Act on the Cancellation of the Fund.'
12. In Paragraph 24, the sentence "In addition, an indication of the individual reference quantity of milk (7b), the individual production quota (7b), the individual limit of premium rights (7b) and other similar quotas and limits that the entity did not charge in the balance sheet or in the profit and loss account because the cost of obtaining information on their replacement purchase price exceeded its significance 'is added at the end of paragraph 4.
13. In Article 24, paragraphs 5 and 6 are added:
"(5) Part of the annex to the Ministry is an overview of the creation and use of the privatisation fund.
(6) In the Annex, the Ministry shall make comments on those items of the privatisation fund which have significantly affected its final balance during the previous accounting year. ';
14. The following Section 24a is inserted after Section 24:
Overview of the creation and use of the privatisation fund
(1) The inventory of the creation and use of the privatisation fund is broken down into Sections A, B, C and contains data on revenue (revenue) and use (expenditure) of funds for the privatisation of assets.
(2) Section A lists the initial status of the privatisation fund on the first day of the financial year and the individual items which increase the privatisation fund.
(3) Section B lists items that reduce the amount of resources from the privatisation of assets.
(4) Section C lists the final balance of the privatisation fund at the balance sheet date. This item is equal to the balance sheet (balance sheet) under item "C.1. privatisation fund No 211 '.
(5) The organisation of an overview of the creation and use of the privatisation fund is set out in Annex 5 to this Regulation. "
15. in Article 26 (1), "Article 7 (6)" is replaced by "Article 7 (8)";
16. In Article 26 (4), the first sentence is replaced by "The valuation of fixed assets and tangible assets and technical valuations 14a) is not reduced by the subsidy granted for the acquisition of assets."
footnote 14a is replaced by the following:
"14a) § 33 (1) of Act No. 586 / 1992 Coll., on Income Tax, as amended."
17. in Paragraph 30 (2), the words "measured at fair value (viable securities)" shall be inserted after the word "papers" and the words "if there is evidence of a permanent impairment (impairment) of those securities, which is likely to be permanent, shall be entered in the relevant cost accounts without undue delay. The amount of this impairment corresponds to the positive difference between the valuation of the security on acquisition and the current fair value taking into account previous impairment losses. Where, following accounting for impairment through cost accounts, there is a demonstrable increase in the fair value of available debt securities, the increase in fair value shall be accounted for at most at the amount of impairment recognised in accordance with the preceding sentence in the income accounts. ';
18.
Valuation differences in fair value applied to hedging derivatives
(Articles 4 (8) and 27 (6) of the Law)
(1) Changes in the fair value of a derivative that hedge the fair value of a balance sheet asset or liability are recognised as a cost or return. The change in fair value of the secured balance sheet asset or liability on the basis of a specific risk shall be accounted for through cost and income accounts.
(2) Changes in the fair value of a derivative providing expected cash flows shall be accounted for through the balance sheet accounts in the account group 90. They are accounted for in the same periods in which the costs or revenues associated with the hedged items are accounted for.
(3) A derivative is considered as hedging only if it meets the following conditions:
(a) the hedging relationship is formally documented at the beginning of the hedge;
(b) the collateral is effective;
(c) efficiency is reliably measurable and continuously assessed.
(4) The documentation shall be an accounting record and shall include the identification of the hedged items and hedging derivatives, the precise definition of the risk that is the subject of the hedge, the method of calculating the effectiveness. Collateral is effective if at the beginning and during the hedging relationship the ratio between changes in fair value or cash flows of hedged items due to the hedged risk and changes in fair value or cash flows of the hedging derivative corresponding to the hedged risk is 80% - 125%. An entity shall determine whether the hedge is effective at the beginning of the hedge and at least at the time the financial statements are drawn up.
(5) If a hedging derivative ceases to comply with the conditions set out in paragraph 3, it shall be treated as a derivative for trading from that moment on.
(6) A contractual relationship for the purchase, sale or use of a commodity is not considered a derivative and is expected to be met by the supply of a commodity. ';
19. Paragraph 32, including the title, reads:
Valuation differences when applying fair value to derivatives to trading
(Articles 4 (8) and 27 (6) of the Law)
Changes in the fair value of derivatives intended for trading which are derivatives that do not meet the conditions set out in paragraphs 3 and 4 of Section 31 shall be accounted for as a cost or return. ';
20. The following Section 32a is inserted after Section 32:
Valuation differences in fair value for receivables acquired and designated for trading by an entity
(K § 4 (8) of the Act)
Changes in fair value of receivables acquired and designated for trading by an entity shall be accounted for as a cost or return. ';
21. The following paragraph 5 is added to Paragraph 33, including footnote 16a:
"(5) When the property is taken over by a single shareholder or in similar cases provided for by special legislation16a), the entity shall take over the adjustments contained in the financial statements at the date of the taking over of the dying entity. ';
16a) For example Act No. 178 / 2005 Coll., on the abolition of the National Property Fund of the Czech Republic and on the jurisdiction of the Ministry of Finance in privatization of the Czech Republic. "
22. in Paragraph 34 (4), "paragraph 8" is replaced by "paragraph 6";
23. in Paragraph 34 (8), at the end of point (e), the dot is replaced by a comma and the following points (f) and (g) are added:
"(f) long-term tangible or intangible assets hired or similarly used, unless otherwise provided by law or by this decree,
(g) emission allowances and preferential limits. ';
24. In Article 35, paragraph 6 is added, including footnote 21a:
"(6) When the assets are taken over by a single shareholder or in similar cases provided for by special legislation21a, an entity shall take over the reserves that were included in the financial statements at the date of the acquisition of the existing entity.
21a) For example Act No. 178 / 2005 Coll. '
25. In Annex 1, the title of item number 1 reads:
"A. Fixed assets
the sum of items 9 + 15 + 26 + 33 + 41 + 206 ';
26. in Annex 1, the following entries are inserted after entry No 41:
'6. Property taken over for privatisation
| Majetek převzatý k privatizaci | (064) | 204 |
| Majetek převzatý k privatizaci v pronájmu | (065) | 205 |
| Majetek převzatý k privatizaci celkem | 206 | |
| součet položek 204 a 205“. |
27. In Annex 1, the following is inserted after entry No 66:
| „Pohledávky v zahraničí | (371) | 207 |
| Pohledávky tuzemské | (372) | 208 |
| součet položek 207 a 208 | 209“. |
28. In Annex 1, the title of entry No 75 reads:
"Total claims
the sum of items 58 + 59 + 60 + 65 + 66 + 209 + 69 + 74 '.
29. In Annex 1, the following entry is inserted after entry No 82:
| „Vklady v zahraniční měně v tuzemských bankách | (246) | 210“. |
30. In Annex 1, the title of entry No 83 reads:
"the sum of headings 80 to 82 and 210 '.
31. In Annex 1, the title of entry No 126 reads:
"C Own resources covering fixed and current assets total
the sum of item 130 + 131 + 213 + 138 + 141 + 151 + 158 ';
32. In Annex 1, the title of item C.1. reads "Property funds and special funds'.
33. in Annex 1, the following is inserted after entry No 131:
| „Fond privatizace | (904) | 211 |
| Ostatní fondy | (905) | 212 |
| součet položek 211a 212 | 213“. |
34. In Annex 4, at the end of account group 06, the following synthetic accounts are added:
"Property taken over for privatisation
064 - Property taken over for privatisation
065 - Property taken over for privatisation in rental '.
35. In Annex 4, at the end of account group 24, the synthetic account "246 - Deposits in foreign currency in domestic banks' is added.
36. In Annex 4, the following synthetic accounts are added after the words "Accounting Group 37 - Other claims and liabilities':
"371 - Claims abroad
372 - Domestic receivables'.
37. In Annex 4, the name of the account group 90 reads: "Property funds and special funds'.
38. In Annex 4, at the end of account group 90, the following synthetic accounts are added:
"904 - privatisation fund
905 - Other funds'.
39. The following Annex 5 is inserted after Annex 4:
"Annex No 5 to Decree No 505 / 2002 Coll.
Arrangements of items for the overview of the creation and use of the privatisation fund
A. GOVERNMENT OF THE FUND
A.I. Initial status of the privatisation fund
A.I.1. Acquisition of assets of privatised entities
2. Share in profit of equity and other trading companies
3. Profit differences in the sale of shares and shares
4. Share in the company's liquidation balance (surplus)
5. Accepted rental of property
6. Accepted bank interest on deposit accounts
7. Share of sale and transformation of assets
8.
A.II. Total creation of the fund (pol. A.I.1. to A.I.8.)
B. USE OF THE FUND
B.I.1. Transfer of property to municipalities
2. Transfer of assets for health and social insurance purposes
3. Share of loss of commercial companies
4. Loss differences on sales of shares and shares
5. Share in the company's liquidation balance
6. Implementation of the privatisation obligations of undertakings
7. Settlement of rights of authorised persons under legislation
8. Share of sale and transformation of assets
9.
B.II. Total use of the fund (B.I.1. to B.I.9.)
C. BASIS OF THE FUND PRIVATIZATION (pol. A.I. + A.II. - B.II.) '.
Transitional provisions
1. Article I (3) to (5), (10), (12) and (23) of this Decree shall be used by the entities for the first time for accounting for the financial years beginning in 2005 and for drawing up the accounts for the financial years beginning in 2005.
2. For accounting for the preferential limits acquired during the financial years preceding the accounting period started in 2006, entities shall use the methods used for their acquisition until they are eliminated, irrespective of the effectiveness of this decree.
Efficacy
This Decree shall take effect on the date of its publication, with the exception of the provisions of points 1, 2, 6 to 9, 11, 13 to 22 and 24 to 39, which shall take effect on 1 January 2006.
Minister:
Sobotka v. r.
Sign in for notes, favorites and notifications
Regulation Information
| Citation | Decree No. 401 / 2005 Coll., amending Decree No. 505 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are self-governing entities, contributory organisations, state funds and organisational components of the State, as amended |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 05.10.2005 |
|---|---|
| Effective from | 05.10.2005 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
Comments 0