Decree No. 411 / 2009 Coll.
Decree amending Decree No. 502 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are insurance undertakings, as amended
Valid
Order
Effective from 25.11.2009
Text versions:
25.11.2009
411
DECLARATION
of 11 November 2009
amending Decree No. 502 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are insurance undertakings, as amended
According to Section 37b of Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 437 / 2003 Coll.:
Decree No. 502 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are insurance undertakings, as amended by Decree No. 474 / 2003 Coll., Decree No. 546 / 2004 Coll., Decree No. 399 / 2005 Coll. and Decree No. 351 / 2007 Coll., is amended as follows:
1. In Article 5 (3), the words ", (b) OECD" held-to-maturity "shall be inserted after the words" C.II. Investment in business groupings. "
2. In Paragraph 19 (9), the dot at the end of point (c) is replaced by a comma and the following point (d) is added:
"(d) Subheadings II.2.c), II.9.b), III.3.c) and III.5.b) shall indicate the formation and use of adjustments to maturity bonds which are not measured at fair value under Section 27 (1) (c) of the Act and are reported under item C.III.2.b).";
3. in Article 20 (3) (a), the last sentence shall be replaced by the sentence "K to investment, which is the content of the aggregate item" C. Investment (investment), "with the exception of bonds held to maturity which are not measured at fair value under Article 27 (1) (c) of the Act and are reported under item C.III.2.b, depreciation and adjustments shall not be generated. In addition, write-offs and adjustments shall not be made for investments that are included in item" D. Investment of life insurance, if the policyholder is the bearer of investment risk, "'.
4. Paragraph 25, including footnote 44, reads:
(1) Real value44) is used to measure investments that are the following:
(a) "D. Investment location of life insurance where the policyholder is the bearer of the investment risk"; and
(b) cumulative items "C. Investment (investment)" with the exception of bonds held-to-maturity which are not measured at fair value under Section 27 (1) (c) of the Act and are reported under item C.III.2.b.
(2) The purchase price of the individual items referred to in paragraph 1 determined in accordance with Paragraph 25 (1) of the Act shall be shown in the notes to the financial statements. An entity shall also present fair value at the balance sheet date for bonds held-to-maturity that are not measured at fair value under Paragraph 27 (1) (c) of the Act and are reported under item C.III.2.b.
44) § 27 of Act No. 563 / 1991 Coll., as amended by Act No. 353 / 2001 Coll. '
footnote 45 is deleted;
5. In Article 32 (3), the sentence "In the case of bonds held to maturity which are not measured at fair value under Article 27 (1) (c) of the Act and are reported under item C.III.2.b) is inserted after the first sentence," In the case of bonds held to maturity which are not measured at fair value under Section 27 (1) (c) of the Act, the formation of adjustments is reported in accordance with Section 19 (9) (d). "
6. In Article 32, at the end of paragraph 3, the sentence "In the case of bonds held to maturity which are not measured at fair value according to Article 27 (1) (c) of the Act and are reported under item C.III.2.b), the use of adjustments is reported in accordance with Section 19 (9) (d). '
7. In Annex 1, entry C.III.2 reads as follows:
"2. Debt securities, in which:
(a) fair value securities against cost and income accounts
(b) "OECD" bonds held to maturity
(c) other securities held to maturity '.
Transitional provisions
(1) The provisions of this Order apply to the accounting years beginning on or after 1 January 2009.
(2) In the fair value measurement, bonds held-to-maturity that meet the criteria of Paragraph 27 (1) (c) of the Act, issued by the effective date of Act No. 230 / 2009 Coll., are not continued. Valuation differences between these bonds arising up to the effective date of Act No. 230 / 2009 Coll. will be dealt with on a one-off basis with the relevant investment item.
Efficacy
This decree shall take effect on the day of its publication.
Minister:
Ing. Janota v. r.
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Regulation Information
| Citation | Decree No. 411 / 2009 Coll., amending Decree No. 502 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are insurance undertakings, as amended |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 25.11.2009 |
|---|---|
| Effective from | 25.11.2009 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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