Decree No. 419 / 2010 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 01.01.2011
Text versions:
01.01.2011
29.12.2010
419
DECLARATION
of 21 December 2010
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):
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. and Decree No. 469 / 2008 Coll., is amended as follows:
1. In Section 1, the words "European Communities (1a) 'are replaced by the words" European Union1a' and footnote 1 is deleted.
Footnote (1a):
"(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, 2006 / 46 / EC and 2009 / 49 / 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, 2006 / 46 / EC, 2006 / 99 / EC and 2009 / 49 / EC of the European Parliament and of the Council. '
2. Paragraph 2 (2), including footnotes 1c and 1d, reads:
"(2) Of the entities referred to in paragraph 1, this decree shall not apply to entities under Paragraph 19a of the Act, except as otherwise provided in the Special Legislation (1c), and to entities whose accounts are governed by the Special Legislation (1d). Furthermore, with the exception of Paragraph 62 (2) to (5), this decree does not apply to entities under Section 23a of the Act.
1c) For example Act No. 586 / 1992 Coll., as amended.
1d) 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. 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. Decree No. 503 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for health insurance companies, as amended. Decree No. 504 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities for which the main activity is not business if they are accounting in the double accounting system, as amended. Decree No. 410 / 2009 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for certain selected entities, as amended. '
3. In the headings of Parts Two, Three and Four, the words "(K § 4 (8) of the Act) 'are deleted.
4. In the second and third sentences of Paragraph 6 (3) (d), the words "sixty months' are replaced by the words" not later than 60 months', and after the third sentence, the sentence "An entity may decide on a amortisation period of goodwill or negative goodwill of more than 60 months; the entity shall justify that fact in the notes to the financial statements. ';
5. in Article 6 (3) (e) (1), the words "and allowances for emissions caused by the aviation sector (5a)" shall be added after the words "greenhouse gases (5a)."
6. In the second and third sentences of Paragraph 7 (10), the words "hundred and eighty 'are replaced by the words" 180' and after the sentence of the third sentence, the sentence "If they are not part of a acquired asset with a valuation difference, assets with a shelf life of more than 15 years, an entity may decide on a depreciation period of an active or passive valuation difference of less than 180 months; the entity shall justify that fact in the notes to the financial statements. ';
7. In Article 8 (1), the words "and managed 12a 'are deleted.
8. Paragraph 8 (2) reads as follows:
"(2) Item" B.III.4. Loans and loans - controlled or controlling person, material influence "includes, in particular, long-term loans and loans granted to controlled persons and entities under significant influence, long-term loans and loans granted between controlled persons and entities under significant influence, and long-term loans and loans granted to controlling persons and entities exercising significant influence. ';
9. In Paragraph 8 (3), the words "controlling and controlling 'are replaced by the words" controlling or controlling' and the words "precious metals and stones, or articles of precious metals and stones, if not declared under the heading" B.II. Long-term tangible assets "or" C.I. Stocks. "'
10.Paragraph 10 (3) reads as follows:
"(3) Item" C.II.2. Claims - Controlled or Controlling Person "shall include claims on controlled persons, between controlled persons and controls, with the exception of those reported under other items. ';
11. in Article 11 (3) and (6), the words "controlling and controlling" are replaced by the words "controlling or controlling."
12.Paragraph 17 (3) reads as follows:
"(3) Item" B.II.2. Liabilities - Controlled or Controlling Person 'include liabilities to controlled persons, between controlled persons and controls not reported under other items. It shall in particular include commitments on long-term loans and loans.';
13. in Paragraph 17 (8), the words "controlling and controlling" are replaced by the words "controlling or controlling."
14. In the third sentence of Article 39 (6), the words "and customs' shall be inserted after the words" the financial instrument concerned '.
15. in Paragraph 39 (7), the words "explanation of the amount declared under" B.I.1.: Establishment expenditure ',' deleted.
16. in Paragraph 39 (10) (a), the words "European Community13f)" are replaced by the words "European Union13f";
Footnote 13f reads:
"13f) Article 43 (1) (7b) Fourth Council Directive 78 / 660 / EEC, as amended by Directive 2006 / 46 / EC of the European Parliament and of the Council. Regulation (EC) No 1606 / 2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards. ';
17. Paragraph 39 (13) reads as follows:
"(13) An entity that is a legal entity and has exceeded at the end of the balance sheet date for which the financial statements are drawn up at least two of the three criteria referred to in paragraph 9 (c) shall disclose in the Annex:
(a) information on the breakdown of sales of goods, goods and services by category of activity and by geographic market, where those categories and markets differ significantly from one another in terms of the way in which the sale of goods and goods and the provision of services in the entity's normal business is organised;
(b) explanation of the amount declared under "B.I.1. Establishment expenses.
18. In Paragraph 39, the following paragraph 14 is inserted after paragraph 13:
"(14) An entity that has applied accounting methods in a manner that is based on the assumption that it will continue its business continuously and that at the same time there is significant uncertainty, namely in fact which suggests that an entity may not be able to continue its business continuously and, as a result, in the course of its normal business, for example, to fulfil its obligations, shall disclose this fact in the notes in the financial statements. It shall further describe any measures or proposals to address these facts. ';
Paragraph 14 shall become paragraph 15.
19. In Section 46, paragraph 3 is added, including footnote 20:
"(3) An entity that provides payment services or issues electronic money and is not a financial institution under a law governing the activities of banks shall include separate accounts in the schedule to be charged for such activities. 20).
20) For example Act No 284 / 2009 Coll., on Payment, as amended, and Decree No 374 / 2009 Coll., on the Performance of the Activities of Payment Institutions, Electronic Money Institutions, Small-Scale Payment Service Providers and Small-Scale Electronic Money Publishers. '
20. In the third sentence of Article 47 (4), the words "the European Community 'are replaced by the words" the European Union'.
21. in Paragraph 51 (3), the words "and controlled" shall be deleted;
22. Paragraph 60 (4) is deleted.
Paragraph 5 shall become paragraph 4.
23. In the last sentence of Article 60 (4), "paragraphs 1 to 4 'is replaced by" paragraphs 1 to 3'.
24.
(1) In consolidated financial statements, the consolidating entity includes:
(a) consolidated entities that form a consolidation entity with a consolidated entity;
(b) entities under joint influence and associated entities where consolidated financial statements are drawn up.
(2) A consolidation entity does not create a consolidating entity in the cases set out in Paragraph 22a of the Act or where the consolidated entity included in the consolidated entity is another consolidated entity that is a consolidated entity or a consolidated foreign entity governed by the law of a Member State of the European Union ("other consolidated entity"), provided that the other consolidating entity:
(a) holds all shares or shares of the consolidating entity; shares or shares held by members of administrative, management and supervisory bodies under special legislation, statutes or social contract shall not be taken into account;
(b) hold at least 90% of the shares or shares of the consolidating entity and the absence of consolidated financial statements has been approved by the other shareholders or members of the consolidating entity; or
(c) holds less than 90% of the shares of the consolidating entity and other shareholders or members holding a particular stake in the consolidated entity have not requested the consolidated financial statements of the consolidated entity at the latest six months before the end of the financial year; This proportion shall be at least 10% in the case of a public limited company and at least 20% in the case of other companies.
(3) In accordance with paragraph 2, the following conditions shall be met:
(a) the consolidating entity and all its consolidated entities are included in the consolidated financial statements of the consolidated entity of another consolidated entity;
(b) the consolidated financial statements referred to in (a) and the consolidated annual report shall be drawn up by another consolidated entity and shall be verified by the auditor under the law of the State under which that other consolidated entity is governed;
(c) the consolidated financial statements referred to in (a) and the consolidated annual report referred to in (b) and the audit report responsible for the verification of those consolidated financial statements and consolidated annual reports, the consolidating entity shall publish the report in accordance with Section 21a of the Act; such accounting records must be published in the Czech language; and
(d) the notes on the financial statements of the consolidating entity shall include the trading firm and the head office of the other consolidated entity that has prepared the consolidated financial statements referred to in (a) and the reasons for not establishing the consolidation unit.
(4) Where the preparation of consolidated accounts and consolidated annual reports is required for the purposes of informing staff or their representatives in accordance with specific legislation, or at the request of administrative or judicial authorities, the procedure laid down in paragraphs 2 and 3 shall not apply.
(5) Entities that are an issuer of securities admitted to trading on a regulated market of securities having its registered office in a Member State of the European Union shall not be subject to paragraph 2 (a) and (b).
(6) A consolidated entity may not be included in the consolidation whole,
(a) for which the share of the consolidation unit is not significant in terms of the submission of a true and fair picture of the subject matter of the accounts and the financial situation of the consolidation unit; if for two or more such consolidated entities their aggregate proportion is significant, those entities are included in the consolidation unit; or
(b) for which long-term restrictions significantly prevent a consolidating entity from exercising its rights to dispose of the assets or management of those consolidated entities, or, exceptionally, if it fails to obtain the information necessary for drawing up the consolidated accounts under this Order without proving the undue costs necessary or without proving the unnecessary delay; or
(c) if the shares or shares of consolidated entities are held solely for the purpose of selling them.
(7) Paragraph 6 shall apply mutatis mutandis to the inclusion of entities under joint influence in consolidated financial statements.
(8) Entities associated need not be included in consolidated financial statements items if the share of the consolidated entity in the equity of the entity associated is insignificant in terms of submission of a true and fair view of the subject matter of the accounting and financial situation of the consolidated entity and of the entities incorporated in the consolidated financial statements. ';
25.
(1) Consolidation shall be carried out in a direct consolidation manner or at different levels of sub-units. Direct consolidation means the consolidation of all entities at the same time, without the use of consolidated accounts, where appropriate, drawn up for sub-units.
(2) Level-by-level consolidation means that consolidated financial statements for lower units are gradually drawn up and then entered into consolidated financial statements for higher units.
(3) The following methods shall be used to prepare consolidated accounts:
(a) the full consolidation to be applied when the consolidated entity is included in the consolidated financial statements;
(b) the proportional consolidation to be applied when the entity is included under joint influence in the consolidated financial statements;
(c) the consolidation of equivalents (consideration) to be used for the inclusion of an entity associated in the consolidated financial statements.
(4) The full consolidation method includes balance sheet items and profit and loss accounts of consolidated entities in full, after their possible exclusion, reclassification and adjustments, to the balance sheet and profit and loss account of the consolidating entity.
(5) The method of proportional consolidation shall include balance sheet items and profit and loss accounts of entities under joint influence in proportion to the share of the consolidated entity in the equity of those entities, after their possible exclusion, reclassification and adjustments, in the balance sheet and profit and loss account of the consolidating entity.
(6) The method of consolidation of equity means the valuation of the participation of the consolidating entity in an entity associated with the equity interest, after any reclassification and adjustments to each item of financial statements.
(7) For entities that are obliged to submit to the compilation of consolidated financial statements, the method of consolidation chosen may be amended only in exceptional cases. Such an amendment shall be presented in the notes in the financial statements with a justification and an indication of its effect on the assets, liabilities and financial situation of the entities included in the consolidated financial statements.
(8) Resorting means such operations in the financial statements of entities entering the consolidation on the basis of which they can be assigned to each other in the consolidation process of a coherent item and add them up. Adjustments are operations to align accounting methods in the framework of consolidation where different methods would significantly affect the view of valuation of assets and liabilities in the consolidated financial statements and of the reported result of the management. Exclusion means operations that allow consolidated financial statements not to include mutual transactions that have been carried out by consolidation entities. These include, in particular, mutual claims and liabilities, purchase and sale of stocks, fixed assets, dividends received and paid, gifts and other transactions between entities that have a significant impact on the consolidated result of the management. ';
26. In Paragraph 64 (2), the first sentence is replaced by the following: "The information on consolidated financial statements is based on the accounts of the consolidating entity, consolidated entities, entities under joint influence and entities associated, consolidated financial statements of the sub-entities and other data provided by the consolidated entity, entities under joint influence and entities associated with the consolidating entity."
27. In the first sentence of Paragraph 64 (3), the words "consolidation unit 'are replaced by the words" which are required to submit to the preparation of consolidated accounts'.
28. Paragraph 64 (5) is deleted.
29. in Paragraph 65 (2), the word "(balance)" shall be deleted;
30. Paragraph 66 (2) reads as follows:
"(2) The profit and loss account shall be supplemented by:
(a) in cost items on the settlement of a positive consolidation difference;
(b) in yield items on the settlement of the negative consolidation difference;
(c) the minority interests in the profit or loss, the share in the profit or loss in equity, according to the consolidation method used. "
31. Paragraph 67, including the title and footnotes No 18a and 18b, reads:
Content of the Annex to the consolidated financial statements
(1) The consolidating entity shall disclose in its notes the consolidated financial statements
(a) the method of consolidation referred to in Article 63 (1) and the method of consolidation used pursuant to Article 63 (4);
(b) the business firm and the registered office of the consolidated entities included in the consolidation unit; the share of equity in those entities included in the consolidation unit held by entities other than the consolidating entity or persons acting in their own name but on behalf of those entities; indicate the reasons on the basis of which it became the controlling person,
(c) the business firm and the registered office of consolidated entities not included in the consolidation entity pursuant to Sections 62 (6) and 22a (3) of the Act, including the reasons for not including them, indicating the equity interest in those entities held by persons other than the consolidating entity;
(d) the business name and registered office of the related entities which are included in the consolidated accounts; the share of equity in those related entities held by entities included in the consolidation or by persons acting in their own name but on behalf of those entities,
(e) the business firm and the registered office of the related entities not included in the consolidated accounts referred to in Article 62 (8), including an indication of the reason for the non-inclusion;
(f) the business firm and the registered office of the entities under joint influence included in the consolidated accounts; the share of equity in those entities under joint influence held by the entities included in the consolidation or by persons acting in their own name but on behalf of those entities; indicate the reasons on which the joint influence is exercised,
(g) the trading firm and the registered office of the entities not referred to in (b) to (f) in which the entities themselves or through a person acting in his own name have a share of less than 20% of the equity in his account; the amount of the equity share, including the total amount of equity, of the profit or loss for the last financial year of those entities, shall be indicated; that information need not be disclosed unless such entities are significant in terms of the submission of a true and fair view of the subject matter of the accounting and financial situation in the consolidated financial statements, the information on equity and the result of the management is also disclosed if they are not disclosed and if the share of the consolidated entity in equity directly or through other entities is less than 50%;
(h) information on the accounting methods and principles used, changes in valuation methods, accounting procedures, the layout of consolidated financial statements items and the content of the definition of items in relation to the previous accounting year, indicating the reasons for such changes; for items included in consolidated financial statements that are or were originally expressed in a foreign currency, information on how they are converted into the currency in which the consolidated financial statements were drawn up,
(i) an explanation of the items "Positive consolidation difference" and "Negative consolidation difference," methods for determining them and any significant changes compared to the previous accounting year;
(j) the average recalculated number of consolidation staff during the financial year for which consolidated financial statements are drawn up, broken down by category; the average recalculated number of employees during the accounting year for entities under joint influence shall be reported separately.
(2) Furthermore, the consolidating entity shall indicate in the Annex in particular:
(a) the amount of remuneration paid for the financial year, both in cash and in non-monetary form, to persons who are a statutory body, members of statutory or other management and supervisory bodies, as well as the amount of pension liabilities incurred or agreed with the former members of the listed authorities, indicating the total for each category;
(b) the amount of advances, loans and loans granted to persons who are a statutory authority, to members of statutory or other management and supervisory bodies, indicating the interest rate, the principal terms and any amounts due, the amount of all forms of collateral, together for each category;
(c) the total amount of liabilities which, at the date on which the consolidated accounts are drawn up, have a maturity of more than five years and the total amount of liabilities secured, indicating the nature and form of such collateral;
(d) the method of measuring the fair value of the relevant assets and liabilities, the description of the valuation model used in the valuation of securities and derivatives at fair value, changes in fair value, including changes in the measurement of the equity ratio by type of financial asset and the method of recording them; if the security, interest and derivative have not been measured at fair value or equity, the entity shall state the reasons and, where applicable, the amount of the adjustment item;
(e) the aggregate amount of financial liabilities not included in the consolidated balance sheet where such information is useful for assessing the financial situation; all liabilities related to pensions and liabilities between the consolidating entity and the entities not included in the consolidated financial statements shall be reported separately;
(f) consolidated revenues from normal activities, broken down by category of activity and by geographic markets, where such categories and markets differ substantially in terms of the way in which the sale of goods and goods and the provision of services under normal activity is organised;
(g) the nature and business purpose of the transactions which are not included in the consolidated balance sheet and the financial impact of those transactions where the risks or benefits of such transactions are significant and where disclosure of those risks or benefits is necessary to assess the financial situation;
(h) transactions 18a) excluding transactions within consolidation entities that the consolidating entity, consolidated entities, joint-influence entities or associated entities have concluded with a related party, including the volume of such transactions, the nature of the related party relationship and other information on those transactions that are necessary to understand the financial situation, 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; the term "related party 'has the same meaning as in the international accounting standards governed by European Union18b),
(i) separately information on the total remuneration costs to statutory auditors 13g) or audit firms for the financial year broken down into:
1. statutory audit 13h) annual accounts,
2. other verification services;
3. tax advice,
4. other non-audit services.
18a) Article 34 (7b) Seventh Council Directive 83 / 349 / EEC, as amended by Directive 2006 / 46 / EC of the European Parliament and of the Council.
18b) Article 34, point 7b, Seventh Council Directive 83 / 349 / EEC, as amended by Directive 2006 / 46 / EC of the European Parliament and of the Council. Regulation (EC) No 1606 / 2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards. ';
32. footnotes 17 and 18 are deleted.
33. In Annex 1, in "TOTAL ASSETS ', entry" B.III.1. Shares in controlled and controlled persons' is replaced by "B.III.1. Shares - controlled person ', item" B.III.4. Loans and loans - controlling and controlling person, material influence' is replaced by "B.III.4. Loans and loans - controlled or controlling person, material influence ', item" C.II.2. Claims - Controlling and Managing Person' is replaced by "C.II.2. Claims - Controlled or Controlling Person 'and item" C.III.2. Receipts - Controlling and Controlling Person' are replaced by "C.III.2. Claims - Controlled or Controlling Person '.
34. In Annex No 1, in "TOTAL LIABILITIES ', entry" B.II.2. Commitments - Controlling and Managing Person' is replaced by "B.II.2. Liabilities - Controlled or Controlling Person 'and item" B.III.2. Commitments - Controlling and Managing Person' is replaced by "B.III.2. Commitments - Controlled or Controlling Person '.
35. In Annex No 2, entry "VII.1. Revenue from shares in controlled and controlled entities and entities under significant influence 'is replaced by" VII.1. Income from shares in controlled entities and entities under significant influence'.
36. In Annex 3, entry "IV.1 Income from shares in controlled and controlled entities and entities under significant influence 'is replaced by" IV.1. Income from shares in controlled entities and entities under significant influence'.
Transitional provisions
1. The provisions 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 starting in 2011 or later, unless otherwise specified in points 2 to 4.
2. Application of the provisions of § 6 (3) (d) and § 7 (10) of Decree No 500 / 2002 Coll., as effective from the date of entry into force of this Order, to write down the items "B.I.5. Goodwill" and "B.II.9. The valuation difference in acquired assets" recognised until the effective date of this decree is not considered to be a breach of the requirement of an even depreciation.
3. Paragraphs 39 (7) and 13 of Decree No 500 / 2002 Coll., as effective from the date of entry into force of this Order, shall apply for the first time to establish the conditions for exemption from the obligation to indicate the schedule of sales of goods, goods and services by category of activity and by geographic market and to explain the amount declared under "B.I.1. Establishment expenditure" for the financial year which began in 2010 and later.
4. The provisions of § 2 (2) second sentence and § 62 to 67 of Decree No 500 / 2002 Coll., as effective from the date of entry into force of this Order, shall apply for the first time when the consolidated accounts for the financial year started in 2010 or later.
Efficacy
This Decree shall take effect on 1 January 2011.
Minister:
Ing. Kalousek v. r.
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Regulation Information
| Citation | Decree No. 419 / 2010 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 | 29.12.2010 |
|---|---|
| Effective from | 01.01.2011 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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