Decree No 470 / 2008 Coll.
Decree amending 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
Valid
Effective from 01.01.2009
Text versions:
01.01.2009
30.12.2008
470
DECLARATION
of 19 December 2008
amending 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
The Ministry of Finance provides pursuant to § 37b of Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 437 / 2003 Coll., for the implementation of § 4 (8):
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 by Decree No. 473 / 2003 Coll., Decree No. 545 / 2004 Coll., Decree No. 398 / 2005 Coll. and Decree No. 350 / 2007 Coll., is amended as follows:
1. In the last sentence of Paragraph 12 (1), the words "the sub-items shall show the establishment expenses and 'shall be replaced by" the sub-item shall show'.
2. In Article 60 (1) (f), the words "and the fair value of such securities' shall be inserted after the words" securities'.
3. Paragraph 75 (2), including footnote 17, is deleted.
Paragraphs 3 to 7 shall be renumbered paragraphs 2 to 6.
4. In Annex 1, item 9, the words "(a) establishment expenditure 'are deleted.
Transitional provisions
1. The provisions of this decree shall be applied by the entities for the first time in the accounting year beginning on or after 1 January 2009, unless otherwise specified in point 2.
2. I (2) shall be used by entities for financial statements drawn up after 1 January 2009 and thereafter.
3. The set-up expenses reported before the validity of this decree in assets under asset item "9. Long-term intangible assets" shall be written off by the entity up to the purchase price by 31 December 2009 at the latest. An entity shall disclose the impact information in the profit and loss account in the notes to the financial statements.
Efficacy
This Decree shall take effect on 1 January 2009.
Minister:
Ing. Kalousek v. r.
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Regulation Information
| Citation | Decree No. 470 / 2008 Coll., amending 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 |
|---|---|
| Regulation Type | - |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 30.12.2008 |
|---|---|
| Effective from | 01.01.2009 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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