Decree No. 471 / 2008 Coll.
Decree amending 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 system of double accounting, as amended
Valid
Order
Effective from 01.01.2009
Text versions:
01.01.2009
30.12.2008
471
DECLARATION
of 19 December 2008
amending Decree No. 504 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities for which the principal object of the business is not business if they are accounting in the double accounting system, as amended
The Ministry of Finance provides pursuant to Section 37b of Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 437 / 2003 Coll., for the implementation of Sections 4 (8), 24 (4) and (5) and 28 (1) of this Act:
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 by Decree No. 476 / 2003 Coll., Decree No. 548 / 2004 Coll. and Decree No. 400 / 2005 Coll., are amended as follows:
1. In Article 7 (1), the last sentence is replaced by the following: "Furthermore, it contains emission allowances, which are greenhouse gas emission allowances, emission reduction units and verified reduction of emissions from project activities and the unit allocated by 11b) irrespective of the valuation level and other similar rights, in particular individual preferential milk quantities, individual production quotas and individual premium rights limit (" preferential limits') 11c) regardless of the valuation level; for the first holder (11c) only if the cost of obtaining information on their valuation of the replacement purchase price does not exceed its significance. ';
Footnote 11b reads:
"11b) Paragraph 2 (1) of Act No. 695 / 2004 Coll., on the terms and conditions of trading greenhouse gas emission allowances and amending certain laws, as amended."
2. In Article 7, the following paragraph 11 is added:
"(11) Long-term intangible assets are not, in particular, expert opinions, market surveys, development plans, proposals for promotional and advertising actions, certification of the quality system 11d) and software for managing technologies or equipment that cannot function without such equipment. In addition, an entity may decide that long-term intangible assets are not primarily technical audits11e) and energy audits11f), forest plannings11g) and plans 11h) and flood plans.
11d) For example Act No. 22 / 1997 Coll., on Technical Requirements for Products and on the amendment and addition of certain laws, as amended.
11e) For example, Act No. 274 / 2001 Coll., on water and sewage for public use and on the amendment of certain laws (Water and Sewerage Act), as amended, and other related laws.
11f) For example Act No. 406 / 2000 Coll., on Energy Management, as amended.
11g) For example, Act No. 289 / 1995 Coll., on Forests and on the amendment and addition of certain laws (Forest Act).
11h) For example, Act No. 254 / 2001 Coll., on Water and on the amendment of certain laws (Water Act), as amended. '
3. Paragraph 8 (2) reads as follows:
"(2) The heading" A.II.2. Works of art, articles and collections "includes, in particular, works of art, collections, items of cultural values12), and similar movable property, irrespective of the amount of the award which is not part of the construction or is not a commodity, including movable cultural monuments, collections of a museum character, objects of cultural value valued under § 25 (1) (k) of the Act, and including sets of such property under § 42b (2) (a)."
4. In Article 8 (4) (a), the part of the sentence after the semicolon, including the semicolon, is deleted.
5. In Paragraph 8 (4) at the end of point (d), the dot is replaced by a comma and the following points (e) to (g) are added:
"(e) real estate cultural monuments valued at cost of acquisition or reproduction;
(f) technical evaluation of the assets referred to in Section 28 (5) of the Act;
(g) technical evaluation of the real-estate cultural monument and ecclesiastical buildings valued in accordance with § 25 (1) (k) of the Act. "
6. in the first sentence of Paragraph 8 (5) (a), the words "movable goods" shall be replaced by the words "property that is characterised."
7. in the second sentence of Article 8 (5) (a), the words "movable goods" shall be replaced by the words "property that is characterised."
8. in Article 8 (5) (b):
"(b) articles of precious metal, unless they are objects of cultural value or cultural monuments."
9. in Article 8 (10), the following point (b) is inserted after point (a):
"(b) the technical assessment carried out on the assets valued under Paragraph 25 (1) (k) of the Act, with the exception of the technical evaluation referred to under" A.II.3. Construction, "
Point (b) shall be renumbered (c).
10. in Article 30 (1) (g), the words "and customs" shall be inserted after the words "financial."
11. in Paragraph 30, the following paragraphs 2 to 4 are inserted after paragraph 1:
"(2) In the case of assets that have been valued in accordance with Paragraph 25 (1) (k) of the Act, or in the case of sets of such assets in accordance with Paragraph 42b (2) (a), an entity shall indicate the number of individual items and sets of assets and a reference to a conclusive accounting record of the actual state of that property or shall include a list of such assets.
(3) If an entity owns more than 10 hectares of forest land with forest land, it shall also include the following information in the notes to the financial statements:
(a) total area of forest land with forest cover;
(b) the value of the valuation of forest land determined by the product of the area of forest land with forest land in m2 and the average value of the stock of raw wood per m2, which is CZK 57.
(4) If an entity also ascertains the forest land price in a manner other than the product of the forest land and the average value of the raw wood stock referred to in paragraph 3 (b), for example in the context of a more detailed breakdown by group of timber, and the price thus determined is significantly different, it shall also indicate in the notes to the financial statements the price and the information on how it is determined and the reason for its detection. '
Paragraphs 2 and 3 shall become paragraphs 5 and 6.
12. in Article 32 (1) (h), the words "and the reimbursement of the costs of the owner of the distribution plant for the transfer of the distribution plant" shall be deleted;
13. in Article 32 (1), the following point (i) is inserted after point (h):
"(i) the reimbursement of the costs of the transhipments 31a), of the transhipments 31b) and of the replacement infrastructure 31c) to an entity having the right to property in question or managing the property of the State or the property of the local authorities;
31a) For example, Act No. 458 / 2000 Coll., on the Terms and Conditions of Business and on the Enforcement of Government Administration in the Energy Sector and on the Amendment of Certain Laws (Energy Act), as amended, and Act No. 274 / 2001 Coll., on Water and Sewerage for Public Use and on the Amendment of Certain Laws (Water and Sewerage Act), as amended.
31b) For example Act No. 127 / 2005 Coll., on Electronic Communications and on the amendment of certain related laws (Act on Electronic Communications), as amended.
31c) For example Act No. 13 / 1997 Coll., on Road, as amended. '
Points (i) and (j) shall be renumbered as points (j) and (k).
14. In Section 32, paragraph 6 is added:
"(6) In the case of assets valued under Paragraph 25 (1) (k) of the Act, its valuation is not increased by the technical assessment carried out on those assets."
15. in Paragraph 38 (2) (e):
"(e) a set of assets characterised by a separate technical and economic designation,"
16. In Paragraph 38, the following point (f) is added at the end of paragraph 2:
"(f) technical evaluation of real-estate cultural monuments and ecclesiastical buildings awarded under § 25 (1) (k) of the Act."
17. In Paragraph 38, the following paragraph 10 is added:
"(10) Where the law or this decree provides that certain assets are to be amortised, the acquisition of such assets or, where appropriate, the reason for accounting for such assets shall not be significant. ';
18. In Article 39, at the end of point (g), the dot is replaced by the "a 'and the following point (h) is added:
"(h) property valued in accordance with § 25 (1) (k) of the Act, the sets of such property in accordance with § 42b (2) (a) and the technical evaluation of that property, with the exception of the technical evaluation of real cultural monuments and church buildings."
19. The following Section 42b is inserted after § 42a, which includes the title:
Method of valuation of the set of assets
(1) The set of assets consists of several items and is characterised by a separate technical and economic designation, or, in the case of cultural monuments, objects of cultural value and objects forming collections of a museum nature, by the identification of common characteristics of its parts or elements (hereinafter referred to as "the set of assets"). A real estate item cannot be included in the set of assets, even in conjunction with a movable item.
(2) The set of assets for cultural monuments or objects of cultural value is appreciated
(a) in the amount of CZK 1, if the purchase price is not known to either of the items forming a set of assets; or
(b) the sum of the purchase prices or the replacement purchase prices of all individual items constituting a set of assets.
(3) Where changes occur within the scope of the set of assets measured in accordance with paragraph 2 (a), the valuation of the whole set of assets shall not change. Where changes occur within the scope of the set of assets in other cases, the valuation of the set of assets shall be adjusted by the valuation of the item concerned.
(4) The entity shall demonstrate the creation, modification and valuation of the set of assets by means of an accounting record. ';
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 paragraphs 3 and 4.
2. In the case of assets valued under § 25 (1) (k) of the Act, including the sets of assets under § 42b (2) (a), which are already valued in accordance with the legislation effective by the date of application of the Decree, the amount of its valuation shall not be changed.
3. Until an entity appreciates the property under Paragraph 25 (1) (k) of the Act, it does not include that property under item "A.II.2. Works of art, articles and collections."
4. Paragraph 30 (3) and (4) of Decree No 504 / 2002 Coll., as effective from the date of entry into force of this Order, shall apply already in the accounts drawn up on 31 December 2008.
Efficacy
This Decree shall take effect on 1 January 2009.
Minister:
Ing. Kalousek v. r.
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Regulation Information
| Citation | Decree No. 471 / 2008 Coll., amending Decree No. 504 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities for which the principal activity is not business if they are accounting in the dual accounting system, as amended |
|---|---|
| Regulation Type | Order |
| 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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