Decree No. 413 / 2011 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 01.01.2012
Text versions:
01.01.2012
22.12.2011
413
DECLARATION
of 13 December 2011
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 § 37b (1) of Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 437 / 2003 Coll. and Act No. 304 / 2008 Coll., for the implementation of § 4 (8):
Amendment of the Decree
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 by Decree No. 472 / 2003 Coll., Decree No. 397 / 2005 Coll., Decree No. 349 / 2007 Coll., Decree No. 469 / 2008 Coll. and Decree No. 419 / 2010 Coll., is amended as follows:
1. In Article 1, at the end of point (b), the dot is replaced by a semicolon and the following points (c) to (h) are added:
"(c) the valuation method for the acquisition of a set of movable goods with a separate technical and economic designation;
(d) the method of valuation for the transformation of a company or cooperative (hereinafter referred to as "the company") under the law governing the conversion of companies and cooperatives (hereinafter referred to as "the Transformation Act"), including adjustments made to the transformation of a company on the date of entry into the Commercial Register with effect from the relevant date;
(e) the method of drawing up the opening balance sheet for the transformation of the company;
(f) adjustments for the cross-border conversion or transfer of an undertaking;
(g) the valuation method for the acquisition of more than one asset component by transfer or transfer, including the possibility of using the valuation method referred to in Article 24 (3) (a) (1) in the case of cross-border conversion, deposit or sale of an undertaking;
(h) the valuation of assets and liabilities in the conversion of a company, including the moment when the fair value measurement is taken. ';
2. In the first sentence of Article 6 (3) (d), the words "except for a change in legal form," shall be deleted.
3. In Article 6 (3) (d), third and fourth sentences, the words "or from the relevant date of conversion 'are deleted and the words" in the case of conversion of a company, in the case of transformation of a company, this goodwill is amortised into the costs from the relevant date of conversion' and the words "in the case of conversion of a company, this goodwill is amortised into the proceeds from the relevant date of conversion 'are added at the end of the sentence of the fourth sentence.
4. in Article 7 (6) (a), "3" is replaced by "4."
5. In the first sentence of Article 7 (10), the words "except in the case of a change in legal form," shall be deleted, in the sentence of the second and third sentences, the words "or from the relevant date of conversion" shall be deleted, and at the end of the sentence of the second sentence, the words "in the case of a transformation of a company, this valuation difference shall be added to the proceeds from the relevant date of conversion."
6. In Paragraph 11, the following paragraph 6 is inserted after paragraph 5:
"(6) Heading" C.III.6. The State - tax claims' includes, in particular, direct and indirect taxes and tax advances paid. If an entity applies Paragraph 16 (3) to the income tax provision, it shall not recognise item "C.III.6. State - tax receivables' total but reduced by the expected tax up to the amount of income tax advances paid. An entity shall describe this fact in the notes in the financial statements. ';
Paragraph 6 shall become paragraph 7.
7. In the first sentence of Paragraph 14a (1), the words "valuation differences in the fair value of an entity's transformation 'are replaced by the words" differences between the valuation of assets and liabilities in the accounting of the entity being acquired or the part of the entity divided by the separation and valuation of assets in the transformation of a company under the Transformation Act at the balance sheet date for the valuation'.
8. In Paragraph 14a (1), the following sentence is inserted after the first sentence: "For the purposes of this decree, the balance sheet date for the valuation is the date on which the financial statements used for the valuation of the assets were drawn up by the expert's assessment of the company's transformation project 'and the third to last sentences are deleted.
9. In the first sentence of Paragraph 14a (2), the words "for successor entities' shall be deleted and the words" third to last 'shall be deleted.
10. in Article 14a, the following paragraph 3 is added:
"(3) Item" A.II.6. The valuation differences in company conversions "shall include for the assets and liabilities that were shown in the financial statements used for the valuation of assets for the company's transformation project, the valuation differences that relate to the losses of such assets and liabilities in the period from the day following the balance sheet date for the valuation to the relevant date. '
11. the following Section 15a is inserted after Section 15, including the title:
Result of previous years
Item "A.IV.3 Another result of previous years' management" includes differences in accounting methods and part of deferred tax pursuant to § 59 (6). It shall also include corrections due to incorrect accounting or non-accounting for costs and revenues in previous financial years, where relevant. An entity shall describe the application of item "A.IV.3. Other results of previous years' management" in the notes in the financial statements. '
12. in Article 16 (2), the words "Pension provision and similar obligations" shall be replaced by the words "The entry" B.I.2. Pension provision and similar obligations "';
13. in Paragraph 16 (3), the words "tax obligations" shall be replaced by "taxes" and the words "and shall be entered in the accounts at the level of the tax envisaged" shall be added at the end of the text of the paragraph.
14. In Paragraph 16, the following sentence is added at the end of paragraph 3: "An entity shall enter the item" B.I.3. Income tax provision "of the amount of the reserve created, less the advance paid on income tax paid, provided that such advance is lower than the expected tax. If those advances are higher than or equal to the expected tax, the entity shall not disclose the item" B.I.3. Income Tax Provisions. "
15. in the first sentence of Paragraph 39 (1), the words "control or control of the entity" and the words "or decisive influence 12a) on the entity" shall be deleted;
16. In the first sentence of Paragraph 39 (2), the words "controlled by an entity or" and the words "or decisive influence 12a) 'and the words" such trading companies or cooperatives' are deleted.
17. In the second sentence of Paragraph 39 (2), the words "companies or cooperatives' are replaced by" entities'.
18. In the third sentence of Paragraph 39 (2), the word "accounting 'is deleted and the words" such companies or cooperatives' are replaced by the words "entities under control or in which it has significant influence '.
19. In the last sentence of Paragraph 39 (11), the words "that consolidated entity or persons' are deleted.
20. In the third sentence of Paragraph 39 (12), the word "entries' is deleted and the last sentence, including footnote 14, is deleted.
21. In Section 47, the words "(K § 4 (8) of the Act) 'are deleted.
22. Paragraph 54, including the title, reads:
Valuation of assets and liabilities in the transformation of a company and the moment of accounting
(1) The conversion of a company by way of a change in legal form or by way of a transfer of capital to a member who does not keep or keep accounts after registration of the transformation into a commercial register shall not be accounted for in respect of the valuation of assets and liabilities at fair value, even if the law on the conversion of assets requires the valuation of assets in the transformation of the company.
(2) If the Transformation Act requires, for the company being acquired or for the company being divided by segregation, an entity (the entity being acquired), the valuation of the assets in the transformation of the company, those entities shall apply the valuation method in accordance with Paragraph 24 (3) (a) (1) or (2) of the Act when measuring assets and liabilities at fair value; the following paragraphs are added:
(3) An entity shall account for the fair value measurement of assets and liabilities referred to in paragraph 2 on the basis of the valuation of assets by an expert's assessment for the transformation project carried out at the balance sheet date for the measurement.
(4) If the operative date is the same as the date of opening of the books following the balance sheet date for the valuation, or if the operative date does not correspond to the date of opening of the books following the balance sheet date for the valuation and does not correspond to the date of recording of the transformation of the company into a commercial register, the entity being acquired or the entity distributed by the separation shall account for the fair value of the assets and liabilities at the relevant date for the measurement of the assets and liabilities after the opening of the books.
(5) If the operative date does not coincide with the date of opening of the books following the balance sheet date for the valuation, it does not coincide with the date of registration of the transformation of the company into a commercial register, the entity being acquired or the entity divided by the separation
(a) only the fair value of the assets and liabilities recognised in the financial statements on the date preceding the relevant date shall be accounted for in the fair value measurement pursuant to Article 24 (3) (a) (2) of the Law; on valuation differences relating to the losses of assets and liabilities in the period between the balance sheet date and the relevant date, shall be accounted for through the account reported under item "A.II.6. Valuation differences in company conversions'; or
(b) in the fair value measurement of assets and liabilities, by means of a measurement in accordance with Section 24 (3) (a) (1) of the Code "A.II.6. Valuation differences in company transformation" does not charge; if the valuation of the assets is the expert's assessment at the operative date and has occurred between the balance sheet date for the valuation and the operative date for the change of item "B.II.9. Valuation difference in acquired assets', an entity shall account for this change in the relevant account reported under item" B.II.9. Valuation difference to acquired assets "in line with the relevant account reported under item" A.II.6. Valuation differences in company transformation '.
(6) In the cases referred to in paragraphs 4 and 5, the receiving entity or the receiving member that is an entity shall account for the taking over of the valuation differences arising from the measurement of assets and liabilities at fair value when adjusting in accordance with Paragraph 54b at the date of the change to the trading venue with effect from the relevant date.
(7) If the operative date is the same as the date on which the company is incorporated, the acquiring entity or the acquiring member that is an entity shall account for the fair value measurement of the assets and liabilities referred to in paragraph 5 at the relevant date after the opening of the books. The reporting entity or an entity, divided by the separation of fair value valuations of assets and liabilities, shall not account for fair value. ';
23. The heading of Paragraph 54a reads: "Valuation of assets and liabilities in cross-border transformation of a company and the moment of accounting."
24. in Paragraph 54a (1):
"(1) If the Transformation Act requires the valuation of assets in the cross-border transformation of a company of a foreign person or part of a foreign person divided by a segregation and if that valuation of assets is not recognised in its financial statements, drawn up at the latest on the date of the relevant date, the successor entity that has or is to have its registered office in the Czech Republic, or the transferee member who is or will be the entity, shall apply the fair value measurement of Paragraph 54 mutatis mutandis, except in accordance with the procedure set out in Paragraph 54 (6), since in this case the successor entity or the transferee member that is the entity does not take over the valuation of assets and liabilities at fair value but accounts of such valuation. '
(25) footnote 16a is deleted.
26. In Paragraph 54a, the following paragraphs 2 to 4 are inserted after paragraph 1:
"(2) In a cross-border transformation of a company by measuring a capital at fair value, a dismemberment that is a Czech legal person is not accounted for by an entity or entity that is divided by a separation.
(3) If, in the case referred to in paragraph 2, at least one of the successor entities is an entity that has or is to have its registered office in the Czech Republic, both the acquired entity and the acquiring entity shall apply Paragraph 54 mutatis mutandis when accounting for the fair value of assets and liabilities.
(4) An entity shall not account for the valuation of assets and liabilities at fair value, in the course of a cross-border transformation of a company, by way of a change in legal form, a cross-border transfer of a registered office or by means of a transfer of assets to a member who does not keep or keep accounts after the transformation has been entered in the business register. ';
Paragraphs 2 to 4 shall be renumbered paragraphs 5 to 7.
27. in the first sentence of Paragraph 54a (5), the word "may" is replaced by "may an entity" and the sentence "in this case the entity shall proceed in accordance with Paragraph 54."
28. In Paragraph 54a, paragraph 7 is deleted.
29. The following Section 54b is inserted after Section 54a, including the title:
Adjustments made with effects from the relevant date
(1) In the conversion of a company where the operative date does not correspond to the date on which the company is incorporated, the participating company that is an entity (hereinafter referred to as "the participating entity '), the acquiring entity that was not a participating entity, or the entity referred to in Paragraph 17 (5) of the Act, shall adjust the entity that is an entity that is an entity (hereinafter referred to as" the participating entity') to achieve the objective set out in Paragraph 10 of the Transformation Act on the date on which the company is incorporated into the accounting business register from the relevant date.
(2) The transferee entity or the transferee member that is an entity, in the conversion of a company where the operative date does not correspond to the date of incorporation of the transformation of a company into a trading venue, shall, in accordance with paragraph 1, account for the date of entry of the transformation into the trading venue with effect from that date in particular:
(a) the taking over or loss of assets and liabilities of the acquired entity or of the split-up entity;
(b) the taking over or loss of valuation differences in assets and liabilities pursuant to Sections 54 and 54a;
(c) the other facts referred to in Article 14 (2),
(d) the use of the valuation difference reported in the items referred to in § 14a (1) to (3), where it carries out the division of those items;
(e) the taking over or loss of the costs and revenues of the entity or entities that are acquired, distributed by separation.
(3) For the cross-border transformation of a company, the acquiring entity or the acquiring member that is an entity shall make adjustments in accordance with paragraphs 1 and 2 so that the facts entered in the accounts of the acquiring entity or the acquiring member that is an entity are recorded in accordance with the law and this decree, from the relevant date to the date of entry in the company's business register.
(4) The transferee entity or the transferee member that is an entity may account for the accounting cases referred to in points (a) to (d) of paragraph 2 when the opening balance sheet is drawn up if such a process is effective.
(5) The accounting cases referred to in paragraph 4 shall be the accounting cases of the current accounting year under Article 3 (3) of the Act.
(6) The provisions of paragraphs 1 to 5 shall not apply when the legal form and cross-border transfer of the registered office is changed. ';
30. In Paragraph 57, at the end of paragraph 1, the sentence "An entity that makes use of the component depreciation method under Paragraph 56a shall not be charged for the provision for the repair of tangible assets."
31. in Article 58 (2), the words "and reporting" shall be replaced by the words "reporting" and at the end of the text of the paragraph, the words "and the recognition of the income tax reserve and the advance payments paid on income tax" shall be added.
32. In the first sentence of Article 59 (6), "In the first year 'is replaced by" At the first'.
33. In Paragraph 63, the following paragraph 9 is added:
"(9) Where a consolidated entity includes an entity with a different balance sheet date in its consolidated financial statements, which preceded by less than 3 months of the balance sheet date on which the consolidated financial statements are drawn up, it shall take into account the facts that occurred in the accounts of the included entity between those balance sheet days, if relevant. The consolidating entity shall provide information on this in the notes to the consolidated financial statements. ';
34. In Annex No 1, in "TOTAL LIABILITIES ', after the entry" A.II.5. Differences from company transformation "insert entry" A.II.6. Valuation differences for company transformation "and for" A.IV.2. Undistributed loss of past years' is added the entry "A.IV.3. Other results of previous years'.
Transitional provisions
1. The provisions of Decree No 500 / 2002 Coll., as effective from the date of entry into force of the Decree, shall apply for the first time in the accounting year beginning on or after 1 January 2012, unless otherwise specified in point 3.
2. In cases where the conversion project was drawn up in accordance with Act No. 125 / 2008 Coll., on the Transformations of Commercial Companies and Cooperatives, as amended by 31 December 2011, the accounting for the transformation of a company under Decree No. 500 / 2002 Coll., as effective until the date of entry into force of this Decree shall be followed.
3. Paragraph 15a of Decree No 500 / 2002 Coll., as effective from the date of entry into force of the Order, shall apply for the first time in the accounting year beginning on or after 1 January 2013.
Efficacy
This Decree shall take effect on 1 January 2012.
Minister:
Ing. Kalousek v. r.
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Regulation Information
| Citation | Decree No. 413 / 2011 Coll., 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 dual accounting system, as amended |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 22.12.2011 |
|---|---|
| Effective from | 01.01.2012 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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