Decree No. 472 / 2003 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
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01.01.2004
31.12.2003
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472
DECLARATION
of 17 December 2003
amending Decree No. 500 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are entrepreneurs accounting in the dual accounting system
The Ministry of Finance provides, pursuant to § 37b, for the implementation of § 4 paragraphs 8, § 24 paragraphs 4 and 5 and § 28 paragraph 1 of Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 437 / 2003 Coll., hereinafter referred to as "the Act":
Decree No. 500 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are entrepreneurs accounting in the dual accounting system, is amended as follows:
1. Paragraph 1, including footnote 1, reads as follows:
The Decree provides for full accounting and simplified accounting
(a) the extent and method of drawing up the accounts;
(b) the layout, labelling and content of the items of assets and other assets, liabilities and other liabilities in the accounts;
(c) the organisation, labelling and content of the costs, revenues and results of the financial statements;
(d) the layout and content of the explanatory and supplementary information in the Annex in the financial statements;
(e) the organisation and content of an inventory of cash flows and an inventory of changes in equity;
(f) an indicative chart of accounts;
(g) accounting methods;
(h) methods of transition from simple accounting or tax records under the special legislation1) to accounting;
(i) the layout, labelling and content of the items in the consolidated accounts;
(j) methods of consolidation of financial statements; and
(k) the procedure for including entities in a consolidation unit.
1) Act No. 586 / 1992 Coll., on Income Tax, as amended. '
2. In Article 2 (1), the words "to (h) 'shall be inserted after the words" (d)'.
3. In Paragraph 2 (1), the term "comma" is replaced by "accounting in the double accounting system." is deleted.
4. in Paragraph 2 (2), including footnotes (1a) and (1b):
"(2) This decree does not apply to entities under Paragraph 19 (9) of the Act, unless special legislation (1a) provides otherwise, to entities under Paragraph 23a of the Act and to entities whose accounting is governed by special legislation.1b)
1a) For example Act No. 586 / 1992 Coll., as amended.
1b) 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. 502 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are insurance undertakings, as amended, as amended by Decree No. 474 / 2003 Coll. Decree No. 503 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for health insurance companies, as amended, as amended by Decree No. 475 / 2003 Coll. 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 double accounting system, as amended by Decree No. 476 / 2003 Coll. Decree No. 505 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are local authorities, contributory organisations, state funds and organisational elements of the State, as amended by Decree No. 477 / 2003 Coll. Decree No. 506 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities of the National Property Fund of the Czech Republic and the Land Fund of the Czech Republic, as amended by Decree No. 478 / 2003 Coll. '
5. In Article 2, the following paragraph 3 is added:
"(3) Entities that keep accounts to a simplified extent,
(a) constitute adjustments and provisions only under special legislation, (1c) and therefore apply the provisions of Sections 16, 26, 31, 55 and 57 accordingly;
(b) they do not measure assets and liabilities at fair value in accordance with Article 27 of the Act, with the exception of the conversion of housing cooperatives, and do not apply the provisions of Articles 14, 39, 51 to 55, 58, 60 and 69 to the extent that they regulate the valuation of assets and liabilities at fair value;
(c) draw up the accounts in a simplified manner.
1c) For example Act No. 593 / 1992 Coll., on provisions for determining the income tax base, as amended. '
6. In the heading of Part Two, "Paragraph 18 (4) 'is replaced by" Paragraph 4 (8)'.
7. In Part Two, Title I, "SCOPE AND METHOD OF ACCOUNTING ACCOUNTS '.
8. In Paragraph 3 (7), the first sentence is replaced by the sentence "Entities shall draw up financial statements in accordance with Paragraph 18 (3) of the Act in full or in a simplified manner."
9. In Article 3 (7), the second sentence is deleted.
10. In Paragraph 4 (7), the last sentence is replaced by the following: "This rule shall also apply in the case of division and may be used in the case of merger by merger, as well as in other cases where the costs of obtaining information for the previous financial year are disproportionate to its meaning."
11. in Article 4, the words "and calculation items" shall be added at the end of paragraph 9.
12. in Paragraph 4 (10):
"(10) Entities that keep accounts to a simplified extent pursuant to Section 13a of the Act and other entities that may draw up financial statements in accordance with Section 18 (3) of the Act in a simplified manner shall draw up an annex to at least the scope of the definition provided for in Section 39 (1) to (8). ';
13. in the second and third sentences of Paragraph 6 (3) (d), "five years" shall be replaced by "sixty months."
14. in Article 7 (6) (a), the words "or acquired by a deposit" shall be inserted after the words "purchased."
15. in Article 7 (10), second and third sentences, the words "15 years" shall be replaced by the words "one hundred and eighty months."
16. Paragraph 8, including the title and footnotes Nos 12a and 12b, reads as follows:
Long term financial assets
(1) Item "B.III.3. Other long-term securities and interests" include in particular shares that do not represent a holding in controlled 12a and 12a controlled 12a persons or a holding in entities under significant influence, 12b) debt securities for which an entity has an intention and ability to hold them to maturity, and other long-term securities for which, as a rule, at the time of acquisition, the entity's intention is not known. For the purposes of this decree, a security of a credit nature, such as a fixed rate bond, a bond where the interest income is determined by the difference between the nominal value and its lower issue rate, and a note.
(2) Heading "B.III.4. In particular, loans and loans - controlling and managing persons, material influence 'contains long-term loans and loans granted to controlled and controlled persons and entities under significant influence, long-term loans and loans granted between controlled and controlled persons and entities under significant influence, and long-term loans and loans granted to controlling and managing persons and entities with significant influence.
(3) Heading "B.III.5. Other long-term financial assets" includes, in particular, long-term loans and loans provided, unless they are recognised under item "B.III.4. Loans and loans - controlling and managing person, significant influence '.
(4) Heading "B.III.7. The advances provided for long-term financial assets" includes short-term and long-term advances granted for the acquisition of long-term financial assets.
12a) § 66a of the Commercial Code.
12b) § 22 paragraph 2 of Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 437 / 2003 Coll. '
17. in Article 10 (2), the words "advance payments granted, with the exception of advances declared under other headings," shall be deleted;
18. in Article 10 (3) and (4):
"(3) Item" C.II.2. Claims - Controlling and Managing Persons' shall include claims on controlled and controlled persons, between controlled and controlled persons and on controlling and controlling persons, with the exception of claims reported under other items.
(4) Heading "C.II.3. Claims - material influence 'shall include claims on entities that are subject to material influence, between entities that are subject to material influence and those of entities that are subject to material influence, with the exception of those reported under other items.'
19. In Article 10, the following paragraph 6 is inserted after paragraph 5:
"(6) The item" C.II.5. Long-term advances granted "contains, for all entities, long-term advances, excluding advances recognised under" B.I.8. "Advances granted on long-term intangible assets'," B.II.8. Advances granted on long-term tangible assets', "B.III.7. Advances granted on long-term financial assets," "C. I. 6. Advances granted on stocks" and "C.III.7. Short-term advances granted." '
Paragraphs 6 and 7 shall be renumbered paragraphs 7 and 8.
20. in Paragraph 10 (7), the words "C.II.5." C.II.6. Ghastly accounts active. "
21. in Paragraph 10 (8), "C.II.6. Other claims" is replaced by "C.II.7. Other claims";
22. in Article 11 (2), (3) and (4):
"(2) Content definition of individual short-term claims items under" C.III.1. Claims on business relationships "to" C.III.4. Claims on associates, members of the cooperative and participants in the association ', "C.III.7. Short-term advance payments' and" C.III.8. Outstanding accounts "is similar to the definition of long-term claims in item" C.II.1. Claims on trading relationships' to "C.II.4. Claims on associates, members of the cooperative and participants in the association '," C.II.5. Long-term advance payments' and "C.II.6. Outstanding accounts active 'with the derogations specified in paragraphs 3, 4 and 5.
(3) Heading "C.III.2. Receipts - Controlling and Controlling Person" contain, in addition to the titles under "C.II.2." Claims - Controlling and Managing Person "in particular loans and loans granted.
(4) Item "C.III.3. Claims - material influence 'contains, in addition to the titles under" C.II.3. Claims - material influence "in particular loans and loans granted."
23. Paragraph 11 (6) reads:
"(6) Heading" C.III.9 Other claims "includes, in addition to the titles under" C.II.7. Other claims "in particular deposit claims by depositors until the time of registration and loans and loans granted, with the exception of loans and loans reported under" C.III.2. Claims - Controlling and Managing Person, "" C.III.3. Claims - material influence "and" C.III.4. Claims on associates, members of the cooperative and participants in the association. "'
24. In Article 12, the following paragraph 3 is added:
"(3) Heading" C.IV.3 Short-term securities and shares "includes, in particular, securities that an entity has designated for trading in order to earn a profit from price differences in the short term, up to a maximum of 12 months, debt securities with a maturity of one year or less for which an entity has the intention and ability to hold them to maturity, and other short-term securities and shares for which the entity's intention is not known at the time of acquisition. There are also purchased warrants."
25. In Paragraph 13, the sentence "The view for accounting and reporting of accruals shall be added at the end of paragraph 1, the fact that their purpose (actual definition), the amount and periods concerned are also known. '.
26. In Paragraph 13 (3), "expenditure 'is replaced by" appropriations'.
27. in the second sentence of Article 14 (1), the words "accounting in the double accounting system" shall be deleted.
28. in Article 17 (2), the words "and advances received" shall be deleted;
29. in Article 17 (3) and (4):
"(3) Item" B.II.2. Liabilities - Controlling and managing persons' include liabilities to controlled and controlled persons, between controlled and controlled persons and to controlling and managing persons not reported under other items. It includes, in particular, long-term loans and loans.
(4) Heading "B.II.3. Liabilities - material influence 'includes liabilities to entities under material influence, between entities under material influence and liabilities of entities under material influence. It shall in particular include commitments on long-term loans and loans.';
30. In the second sentence of Article 17 (8), the words "under the heading" B.II.2. Liabilities to controlled and controlled persons', "B.II.3. Liabilities to entities subject to material influence" 'shall be replaced by "under the heading" B.II.2. Commitments - Controlling and Managing Person', "B.II.3. Commitments - Significant influence ''.
31. in Paragraph 18 (2), the words "Liabilities to entities under significant influence" shall be replaced by "Commitments - material influence."
32. In Paragraph 19, the sentence "The view for accounting and reporting of accruals is that their purpose (actual definition), the amount and periods concerned are also known at the same time. 'is added at the end of paragraph 1.
33. In Section 24, the words "accounting in the dual accounting system 'are deleted.
34. In Article 33, the words "and deficits' shall be inserted after the words" mank '.
35. in Paragraph 34, the word "deficits" shall be inserted after the word "manka."
36. At the end of Paragraph 38, the sentence "Content definition of the items" IV. Cost of long-term financial assets, "" F. Cost of financial assets, "" H. Change in the state of provisions and adjustments in the financial field, "" VII. Income interest, "" I. Cost interest, "" VIII. Other financial income, "" J. Other financial costs, "" X. Extraordinary income, "" M. Extraordinary costs, "and" O. Transfer of profit or loss to shareholders "is similar to the content definition of the items" VII. Revenue from long-term financial assets, "" "" K. Other financial expenses, "" "M. Changes in the state of reserves and adjustments in the financial field," X. Income interest "
37. After Paragraph 38, the following Section 38a is inserted:
Economic results
(1) Item "* Operating result
(a) in the profit and loss account - the generic breakdown takes into account the items "I. Sales for the sale of goods" to "I. Transfer of operating costs,"
(b) in the profit and loss account - the special-purpose breakdown takes into account the items "I. Markets on the sale of goods, goods and services" to "D. Other operating costs."
(2) Item "* Financial result of the management"
(a) in the profit and loss account - the generic breakdown takes into account the items "VI. Markets on the sale of securities and shares" to "P. Transfer of financial costs,"
(b) in the profit and loss account, the special-purpose breakdown takes into account the items "III. Sales of securities and shares" to "K. Transfer of financial costs."
(3) Item "* * Result of normal business management"
(a) in the profit and loss account - the generic breakdown is the sum of the items "* Operating result of the economy" and "* Financial result of the economy" reduced by "Q. Income tax on ordinary activities,"
(b) in the profit and loss account - the special-purpose breakdown is the sum of the items "* Operating result of the business" and "* Financial result of the business" reduced by "L. Income Tax on the normal business."
(4) Item "* Extraordinary profit or loss
(a) in the profit and loss account - the generic breakdown is the difference between item "XIII. Extraordinary income" and the sum of items "R. Extraordinary expenses" and "S. Extraordinary income tax,"
(b) in the profit and loss account - the special-purpose breakdown is the difference between the item "X. Exceptional income" and the sum of the items "M. Extraordinary expenses" and "N. Extraordinary income tax."
(5) Item "* * * Result of the financial year"
(a) in the profit and loss account - the generic breakdown is the sum of the items "* * Result for normal business" and "* Extraordinary profit result" reduced by the item "T. Transfer of the share of profit or loss to shareholders,"
(b) in the profit and loss account - the special-purpose breakdown is the sum of the items "* * Result for normal business" and "* Extraordinary profit result" reduced by the item "O. Transfer of the share of profit or loss to shareholders."
(6) Item "* * * Result before tax"
(a) in the profit and loss account - the generic breakdown is the sum of the items "* Operating result of the holding," "* Financial result of the holding," and "XIII. Extraordinary income" reduced by "R. Extraordinary expenses,"
(b) in the profit and loss account - the special-purpose breakdown shall be the sum of the items "* Operating result of the economy," "* Financial result of the economy" and "X. Extraordinary income" reduced by "M. Extraordinary costs." '
38. In Part Two of Title IV: "ARRANGEMENTS AND DETERMINATION OF EXPLANATORY AND ADDITIONAL INFORMATION IN THE ANNEX TO THE ACCOUNT '.
(39) In Paragraph 39 (1), the words "20% or more of the entity's capital is involved" are replaced by the words "have a significant influence of 12b) or a decisive influence of 12a) on that entity."
40. In Paragraph 39 (2), "more than 20% of their capital 'is replaced by" significant influence 12b) or decisive influence 12a)'.
41.In Paragraph 39 (5) (c):
"(c) according to the principle of materiality, the method of determining the adjustments and adjustments to property, indicating the source of information for the determination of the amount of the adjustments and adjustments, the method applied for the conversion of foreign currency data into Czech currency and the method of determining the fair value of the relevant assets and liabilities by law, the description of the valuation model used in the fair value measurement, the changes in fair value including changes in the fair value ratio by type of financial assets and the method of accounting for them, for each type of derivative, the size and nature of the entity, including the main conditions and circumstances that may affect the amount, time and the determination of future cash flows, and the table indicating changes in the fair value of the relevant account in group 41; if the assets and liabilities have not been measured at fair value or equivalents, the entity shall indicate the reasons and possible amount of the adjustment."
42. In the last sentence of Paragraph 39 (6), the words "the amount of the social security contributions payable and the contribution to the state employment policy, the amount of the public health insurance obligations payable and the amount of the registered tax arrears with the local competent financial authorities, the amount of the claims to be traded at fair value 'shall be inserted after the words" the credit guarantee'.
43. In Paragraph 39 (10), the last sentence is deleted.
44. in Paragraph 39 (11), the words "paragraphs 4, 40, 41, 43 and 56 of this Decree" are replaced by the words "paragraphs 4 and 56 and paragraphs 40, 41 and 43, if an entity produces an overview of cash flows."
45. In Part Two, Title In the text: "ARRANGEMENTS AND DETERMINATION OF MONEY FLOWERS '.
46. In Part Two, Title VI, "ARRANGEMENTS AND DETERMINATION OF THE CHANGE OF OWN CAPITAL '.
47. In the heading of Part Three, "Paragraph 14 (1) 'is replaced by" Paragraph 4 (8)'.
48. in Paragraph 46 (1):
"(1) When keeping accounts in full, an entity shall determine in the accounting schedule the organisation and content of synthetic accounts within the accounting groups the indicative chart of accounts; when carrying out accounts to a simplified extent, an entity shall draw up an account schedule in which only accounting groups may be specified unless a separate legal provision requires more detail. In the accounting schedule, an entity is required to rely on the designation and arrangement of the accounting groups of the indicative statement of accounts. An entity that compiles a profit and loss account on an earmarked basis shall not be required to comply with the breakdown in the accounting groups 50 to 55 and 60 to 64; the breakdown shall adjust the statement taking into account the obligations set out in Paragraph 39 (8). ';
49. In the heading of Part Four, "AND THEIR USE 'is deleted and" paragraph 2' is replaced by "paragraph 8 '.
50. In the heading of Section 47, "paragraph 2 'is replaced by" paragraph 8' and "and paragraph 25 (4) 'is deleted.
51. in Paragraph 47 (1) (h):
"(h) reimbursement of the share of:
1. the eligible costs of the transmission system operator or relevant distribution system operator associated with the connection and provision of the required power input;
2. effectively incurred costs incurred by the distribution system operator associated with the connection and ensuring the required gas supply;
3. effectively incurred costs incurred by the supplier associated with the connection and the provision of heat energy, '.
2. in Paragraph 47 (1), the following point (i) is inserted after point (h):
"(i) reimbursement of the costs of the owner of the distribution plant for the transfer of the distribution plant,";
Points (i) and (j) shall be renumbered as points (j) and (k).
53. In the first sentence of Paragraph 47 (3), the words "technical assessment 'are replaced by the words" technical assessment (3)'.
54. in Paragraph 47 (3), the last sentence is deleted;
55. in the headings of Sections 48, 49 and 50, the words "paragraph 2" are replaced by the words "paragraph 8" and the words "paragraph 25 (4)" are deleted;
56. In Section 51, the words "paragraph 2 'are replaced by the words" paragraph 8' and the words "and Paragraph 27 (4) 'are deleted.
57. Paragraph 51 (1) reads as follows:
"(1) Changes in fair value for securities designated by an entity for trading in order to make a profit from price differences in the short term shall be accounted for as a financial expense or financial return. ';
58. In Paragraph 51, in paragraph 2, the words "measured at fair value 'are inserted after the words" securities'.
59. In Section 52, the words "paragraph 2 'are replaced by the words" paragraph 8' and the words "and Paragraph 27 (4) 'are deleted.
60. in Paragraph 52 (3) (b), the word "highly" shall be deleted;
61. In Paragraph 52, paragraphs 6 and 7 are added:
"(6) An entity shall determine whether it will treat all derivatives as trading derivatives or use the option of accounting them as hedging derivatives in accordance with its financial risk management strategy.
(7) Unless otherwise provided for in this decree, entities shall apply the provisions of Decree No. 501 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, to entities that are banks and other financial institutions, as amended. '
62. In Section 53, the words "paragraph 2 'are replaced by the words" paragraph 8' and the words "and Paragraph 27 (4) 'are deleted.
63. In Paragraph 53, the present text becomes paragraph 1 and the following paragraph 2 is added:
"(2) Unless otherwise provided for in this decree, entities shall apply the provisions of Decree No. 501 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, to entities that are banks and other financial institutions, as amended. '
64. After Paragraph 53, the following Section 53a is inserted:
Valuation differences in fair value for receivables acquired and designated for trading by an entity
(K § 4 (8) of the Act)
Changes in fair value of receivables acquired and designated for trading by an entity shall be accounted for as financial expense or financial income. ';
65. In the heading of Section 54, "paragraph 2 'is replaced by" paragraph 8' and "and paragraph 27 (4) 'is deleted.
66. Paragraph 54 (2) is deleted and paragraph 1 is deleted.
67. In the headings of Sections 55 and 56, "paragraph 2 'is replaced by" paragraph 8'.
68. in Paragraph 56 (2) (b):
"(b) a technical assessment for an entity which uses or has made a technical assessment on such assets on a fee or charge basis for the long-term depreciation of the property;"
69. In Paragraph 56 (2) (d), the words "or acquired by a deposit" shall be inserted after the word "purchased."
70. In Paragraph 56 (3), at the end of the first sentence, the words "or at the time of the acquisition of the land 'are added.
71. In Section 57, "paragraph 2 'is replaced by" paragraph 8';
72. In Section 58, the words "paragraph 2 'are replaced by" paragraph 8' and the words "and Section 7 (6) 'are deleted.
73. In Section 59, "paragraph 2 'is replaced by" paragraph 8';
74. Paragraph 59 (1) reads as follows:
"(1) The tax deferred is accounted for and reported by the entities that form the consolidation whole and by the entities that draw up the financial statements in full (Section 18 (3) of the Act). Other entities shall determine whether they will charge the deferred tax and report it. ';
75. In Section 60, the words "paragraph 2 'are replaced by the words" paragraph 8'.
76. In Paragraph 60 (1), "6 'is replaced by" 12'.
77. In Section 61, "paragraph 2 'is replaced by" paragraph 8' and "paragraph 3 'is replaced by" paragraphs 4 and 5'.
78. In Article 61 (1), in the introductory part of the text, the words "(Article 24 (4) of the Law) 'shall be inserted after the words" File of Property' and the number "3 'shall be replaced by" 5'.
79. In Paragraph 61, at the end of paragraph 2, the words "and the set of claims created under the Income Tax Act 'are added.
80. The following Sections 61a and 61b are inserted after Paragraph 61, including the headings and footnotes No 16a:
Method of valuation when acquiring more than one asset component by transfer or transfer pursuant to § 24 (3) (b) of the Act
(Paragraph 24 (4) and (5) of the Act)
(1) In the case of acquisition of assets pursuant to § 24 (3) (b) of the Act, the basis for the proportional distribution of the total cost or the replacement cost shall be that of goodwill established with the appropriate application of § 6 (3) (d). Where the established basis for the pro rata allocation of the total cost or the replacement cost is not zero, it shall be broken down and added in proportion to the prices of the individual acquired fixed assets, fixed intangible assets, stocks and financial assets, with the exception of financial assets valued at nominal value, or other components of assets which are not altered to distort the fair image of the subject-matter of the accounts.
(2) Where commitments are not part of the assets acquired and where the cost of valuing the assets acquired pursuant to paragraph 1 is an expert disproportionate to the importance of that valuation, the valuation by a qualified estimate may be used for the purposes of determining the basis for the pro rata allocation of the total cost or the replacement cost referred to in paragraph 1 to ensure a reasonable approximation to the market value of the assets.
Transfer method from tax records to accounting
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Regulation Information
| Citation | Decree No. 472 / 2003 Coll., amending Decree No. 500 / 2002 Coll., implementing certain provisions of Act No. 563 / 1991 Coll., on Accounting, as amended, for entities that are entrepreneurs accounting in the dual accounting system |
|---|---|
| Regulation Type | Order |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 31.12.2003 |
|---|---|
| Effective from | 01.01.2004 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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