What is Decree No. 504 / 2002 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 object of the business is not business if they account in the double accounting system — Decree 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 account in the system of double accounting.

When it became Decree No. 504 / 2002 Coll. effectiveness?

Decree No. 504 / 2002 Coll. became effective 01.01.2003.

Is Decree No. 504 / 2002 Coll. still valid?

Yes, Decree No. 504 / 2002 Coll. is still valid and effective.

How many times was it Decree No. 504 / 2002 Coll. amended?

Decree No. 504 / 2002 Coll. has 12 time versions of the text.

Decree No. 504 / 2002 Coll. - Decree implementing certain provisions o...

504

DECLARATION

of 6 November 2002

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 account in the system of double accounting

According to Section 37a (1) of the Finance Ministry, for the implementation of Section 4 (2), Section 14 (1), Section 18 (4) of Act No. 563 / 1991 Coll., on Accounting, as amended by Act No. 492 / 2000 Coll. and Act No. 353 / 2001 Coll., (hereinafter "the Act '):

ČÁST PRVNÍ

SUBJECT MATTER OF ADJUSTMENT AND SCOPE

§ 1

This 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 costs and revenues and the outcome of the financial statements;

(d) the layout and content of the explanatory and supplementary information in the Annex in the financial statements;

(e) the indicative chart of accounts;

(f) accounting methods;

(g) the method of transition from simple accounting to full or simplified accounting;

(h) the method of determining the functional currency and the procedure for changing the currency of the accounts.

§ 2

(1) The Decree concerns entities for which the main activity is not business referred to in § 1 (2) (a), (b), (i) and (l) of the Act and which are subject to specific legislation; the following entities are in particular:

(a) political parties and political movements under the law governing association in political parties and political movements;

(b) associations under the Civil Code,

(c) churches and religious societies under the law governing freedom of religion and the status of churches and religious societies;

(d) public utility companies under the law governing the rights and obligations of public utility companies;

(e) interest associations of legal persons under the Law governing interest associations of legal persons,

(f) foundations, foundations and institutes under the Civil Code;

(g) the association of unit owners under the Civil Code;

(h) public HEIs under the Act governing HEIs; and

(i) other entities that have not been set up and set up for business purposes, 10) with the exception of commercial corporations ("entities").

(2) This decree does not apply to entities whose accounts are governed by specific legislation. 11)

(3) Entities that keep accounts to a simplified extent,

(a) consist of adjustments and provisions only under special legislation, 11a)

(b) they do not measure assets and liabilities at fair value under Article 27 of the Act and do not apply paragraphs 18, 24, 30, 34, 35, 36, 36a, 41 and 42 to the extent that they regulate the valuation of assets and liabilities at fair value;

(c) draw up the accounts in an abbreviated manner.

ČÁST DRUHÁ

FINANCIAL CONCLUSION

HLAVA I

SCOPE AND METHOD OF ACCOUNTING

§ 3

(1) The accounts are set out in Section 18 of the Act.

(2) The balance sheet shall include items of assets and other assets, liabilities and other liabilities.

(3) The profit and loss account shall include and identify items of cost, income and profit or loss.

(4) The Annex to the accounts explains and complements the information contained in the balance sheet and the profit and loss account; the information therein is presented in the same order as the items in the balance sheet and the profit and loss account.

(5) Entities shall draw up the financial statements in full or in abbreviated form in accordance with Paragraph 18 (4) of the Act. The financial statements shall be drawn up in an abbreviated manner by the entities referred to in Section 3a.

§ 3a

(1) The short-term balance sheet, which covers only items marked in capital letters with Latin alphabet and Roman numerals as set out in Annex 1 to this Decree, may be compiled only by a micro entity and a small entity which is not required to have financial statements certified by the auditor.

(2) A profit and loss account of an abridged scale which includes only items marked in capital letters of the Latin alphabet and Roman numerals as set out in Annex 2 to this Decree may be compiled only by a micro entity and a small entity which is not required to have financial statements certified by an auditor.

(3) Only a micro entity and a small entity that is not required to have financial statements certified by an auditor may draw up an annex to the financial statements in an abbreviated manner in accordance with Paragraph 30 (7).

§ 4

(1) In the balance sheet and in the profit and loss account, the items listed in Annexes 1 and 2 to this Order are shown separately and in the order laid down.

(2) Balance sheet items and profit and loss account items are identified by a combination of the large letters of the Latin alphabet, Roman numerals, Arab numerals and item names.

(3) The financial statements are drawn up in cash units of the currency of the accounts and the items are reported in thousands. The method of reporting each item and the designation of the currency of the accounts shall be indicated in all parts of the accounts. The items "Total assets' (net) and" Total liabilities' must be equal to. The item "D. Post-tax result" for the current accounting year in the profit and loss account shall be equal to item "A.II.1. Economic outturn account" shown in balance sheet liabilities for the current financial year.

(4) Entities that enter into liquidation in the current accounting year and entities whose assets are declared bankrupt in the current accounting year shall draw up the financial statements in full on the date of entry into liquidation or on the date of bankruptcy. This rule shall also be applied by entities that are newly created by division and may also be used by entities that are newly born by merger.

(5) Entities that change the currency of the accounts show in the financial statements the data for the previous financial year in the currency of the current period. Paragraph 42d shall apply to the conversion of these data.

§ 5

Balance sheet

(1) In the balance sheet, asset items are shown in value excluding adjustments and adjustments. The adjustments and adjustments to the relevant assets shall be shown in the balance sheet assets in negative values. Each of the balance sheet items shall also include information on the amount of that item reported for the previous financial year. Where the information provided for past and current accounting periods is not comparable, the information for previous financial years shall be adjusted in the light of the materiality referred to in Article 19 (7) of the Act and the adjustment shall be justified in the notes in the financial statements.

(2) The value of the balance sheet items shall be reported on the basis of the final balances recorded in the individual synthetic accounts of the indicative book of account. The items of the adjustment items and adjustments shall be reported with a negative sign. The amounts of assets and liabilities with a holding at the first day of the financial year shall be entered in the first column. The second column lists the assets and liabilities stocks at the last day of the financial year for which the accounts are drawn up. The exception is the liability item "A.II.1. Financial result account" to be reported only on the last day of the closed financial year and liability item "A.II.2. Result of the approval procedure ', to be reported only on the first day of the accounting year.

(3) Balance sheet items at zero shall not be reported.

§ 5a

Main activity and economic activity

(1) The principal activity for the purposes of this decree is any activity for which an entity has been established or has been established by a separate legal act, instrument of incorporation or other document.

(2) For the purposes of this Decree, economic activity shall mean economic activity provided for by a specific legislation or activities provided for in the instrument of incorporation, statute, charter or registered in the relevant register, in particular ancillary, ancillary, business or other activity.

§ 6

Profit and loss account

(1) The profit and loss account shall include, at the balance sheet date, the final balances of the synthetic cost and revenue accounts, broken down into the main activity and economic activity. The pre-tax result and post-tax result shall be reported separately for the main activity and separately for the economic activity. For the entity as a whole, the partial results of the management are summed up. In the profit and loss account, the information for the previous financial year shall not be provided.

(2) The items in the profit and loss account at zero are not reported.

HLAVA II

DEFINITION OF BALANCE SHEET ITEMS

§ 7

Long-term intangible assets

(1) The item "A.I. Long-term intangible assets in total" contains in particular intangible research and development results, software, valuable rights and other long-term intangible assets with a period of validity of more than one year and from the amount of the valuation determined by the entity and, in particular, compliance with the principle of materiality and fair and fair display of the property, while fulfilling the obligations laid down by law. The period of application shall be the period during which the property is usable for current or retaining activities or may serve as a basis or part of improved or other processes and solutions, including the period of verification of intangible results. It also contains emission allowances under the law governing the trading conditions for greenhouse gas emission allowances, which are greenhouse gas emission allowances, emission reduction units and verified reductions in emissions from project activities and the quantity allocated, irrespective of the amount of the valuation and other similar rights, in particular individual production quotas and individual premium rights limits ("preferential limits') under specific legislation, regardless of the amount of the valuation; for the first holder only if the cost of obtaining information on their valuation of the replacement purchase price would not exceed its significance.

(2) Furthermore, a technical evaluation of the long-term intangible assets shall be considered as long-term intangible assets from the amount of the valuation determined by the entity for the reporting of the individual long-term intangible assets under item "A.I. Total long-term intangible assets' in accordance with paragraph 1,

(a) to which the transferee of the right of use is entitled to account and write-off for a long-term intangible property which he does not charge as property;

(b) small fixed intangible assets as defined in paragraph 5;

(c) small intangible assets, which are the components of assets listed in paragraph 1, if they have a period of application of more than one year and are not recognised by an entity under "A.I. Long-term intangible assets in total."

(3) Item "A.I.1. Intangible research and development results' and item" A.I.2. Software 'contain intangible research and development and software results that have either been created by their own activities and are intended for trading or have been acquired from other persons.

(4) Heading "A.I.3. Valuable rights" includes, in particular, invaluable rights to industrial and similar property objects, to the results of intellectual creative activities and other valuable rights under the laws governing the protection of industrial designs, to the results of intellectual creative activities and to similar rights.

(5) Item "A.I.4. Small long-term intangible assets" contain intangible assets, in particular intangible research and development results, software, valuable rights and other long-term intangible assets, its useful life is longer than one year and the valuation of one item is in the amount of CZK 7,000 and higher and does not exceed CZK 60,000, which was acquired no later than 31 December 2002, until the time of disposal.

(6) Item "A.I.5. Other intangible fixed assets" contains other intangible fixed assets which, by their nature, cannot be included in other items of fixed assets in particular emission allowances and preferential limits, irrespective of the amount of the valuation.

(7) Cases arising from the acquisition of long-term intangible assets, in particular prototypes, models and samples, unless they are excluded for example by reason of sale or liquidation, shall be entered in the relevant asset account in the event of further use in their own business.

(8) Item "A.I.6. Uncompleted long-term intangible assets" shall include purchased long-term intangible assets while they are being acquired until they are put into a state of eligible use.

(9) Heading "A.I.7. The advances provided for long-term intangible assets" include short-term and long-term advances and debts granted for the acquisition of long-term intangible assets.

(10) Long-term intangible assets shall become acquired assets placed in a state of eligible use which means the completion of the acquired assets and the fulfilment of the specified functions and obligations laid down by the legislation governing its use. The same procedure shall apply in the case of a technical evaluation.

(11) Long-term intangible assets are not, in particular, expert opinions, market surveys, development plans, proposals for promotion and advertising actions, certification of the quality system 11d) and software for the management of 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.

§ 8

Long-term tangible assets

(1) The item "A.II.1. Land" contains land irrespective of the amount of the valuation, provided that they are not stocks under Paragraph 11 (7). This item does not include parts of land which are amortised and are recorded as assets or parts thereof under item "A.II.3. Construction," "A.II.5. Cultivation units of permanent crops," "A.II.8. Other fixed assets" referred to in paragraph 9 (a) and (d).

(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 tangible 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 nature, objects of cultural value valued under § 25 (1) (k) of the Act, and including sets of such property under § 42b (2) (a).

(3) The heading "A.II.3. Construction" includes regardless of the amount of the valuation and the period of application

(a) construction (14) including buildings, mining works and mining works under the surface, water works and other works under special legislation;

(b) the right of construction if it is not a supply under Paragraph 11 (7);

(c) opening of new quarries, sandstone and clay,

(d) technical reclamation, except as otherwise provided in specific legislation;

(e) apartments and non-residential premises defined as units; in the case of common parts of the real estate, including a joint ownership interest in the land, paragraph 1 shall apply mutatis mutandis;

(f) cultural monuments,

(g) technical evaluation of the assets referred to in § 28 (5) of the Act;

h) technical evaluation of the real cultural monument and ecclesiastical buildings valued according to § 25 (1) (k) of the Act.

(4) Item "A.II.4. The material movable goods and their files" contain:

(a) tangible movable goods and their sets of separate technical and economic determinations with a period of validity of more than one year and from the amount of the valuation determined by the entity, subject to compliance with the obligations laid down by law, in particular by respecting the principle of significance and faithful and fair display of property. Mattress goods and sets thereof with a separate technical and economic designation with a shelf life of more than one year not declared under "A.II.4. Substantial movable goods and their sets of goods" are considered to be small tangible assets for which an entity accounts as stocks,

(b) articles of precious metal, irrespective of the amount of the award, unless they are objects of cultural value or cultural monuments.

(5) "A.II.3. Construction" and "A.II.4. The material movable goods and their files" shall also include a technical evaluation from the valuation level set out in Paragraph 32 (5):

(a) the assets referred to in Paragraph 28 (5) of the Act;

(b) small tangible property.

(6) The entry "A.II.5. Cultivation units of permanent crops" contains:

(a) fruit trees or fruit bushes planted on a continuous parcel of more than 0,25 hectares in a density of at least 90 trees or 1000 shrubs per hectare;

(b) permanent crops of vineyards and hops without supporting structures.

(7) Item "A.II.6. Adult animals and their groups" include adult animals and their groups, in particular herds, flocks with a shelf life of more than one year and from the amount of the valuation determined by the entity, while fulfilling the obligations laid down by law, in particular by respecting the principle of significance and fair and fair display of property. For adult animals and their groups with a shelf life of more than one year not reported under "A.II.6. Adult animals and their groups" shall be accounted for as stocks.

(8) Heading "A.II.7. Small long-term tangible property" contains tangible movable goods, or sets of tangible movable goods with separate technical and economic purposes, their useful life is longer than one year and the value of one item is CZK 3,000 and higher and does not exceed CZK 40,000, which was acquired no later than 31 December 2002, until the time of disposal.

(9) Heading "A.II.8. Other fixed assets" includes regardless of cost

(a) bearings of unreserved mineral or parts thereof purchased as part of the parcel after 1 January 1997 within the scope of the geological survey and subject to the conditions laid down in § 38 (3) (d);

(b) the technical assessment carried out on the assets valued under § 25 (1) (k) of the Act, with the exception of the technical evaluation referred to under "A.II.3. Construction,

(c) other assets having the character of fixed tangible assets, not included in property items "A.II.1. Land," "A.II.2. Works of art, articles and collections," "A.II.3. Construction," "A.II.4. Mattress goods and sets thereof '," A.II.5. Cultivation units for permanent crops', "A.II.6. Adult animals and their groups'," A.II.7. Small fixed assets', "A.II.9. Unfinished tangible assets' and" A.II.10. Advances granted on long-term tangible assets',

(d) material burdens on land and construction, except for the right to use, unless they are recognised as part of the valuation of item "A.II.3. Construction" or as part of the valuation of item "B.I. Stocks."

(10) Heading "A.II.9. Uncompleted tangible fixed assets" contains acquired tangible fixed assets for the duration of its acquisition until they are put into a state of use.

(11) Heading "A.II.10 The advances provided for long-term tangible assets" includes short-term and long-term advances and debts granted for the acquisition of long-term tangible assets.

(12) Long-term tangible property shall become acquired goods put into a state of use which means the completion of the case and the fulfilment of the technical functions and obligations laid down by the specific legislation on use, that is to say, for eligibility to service. The same procedure shall apply in the case of a technical evaluation. This provision shall not apply in the case of acquired goods which have been put into a state of use before being acquired and do not require assembly with the acquirer.

§ 9

Long term financial assets

(1) Long-term financial assets are assets with a maturity of more than one year or assets purchased or owned by an entity for the purpose of:

(a) participating interests, in particular shares in a commercial corporation; or

(b) trade in them; or

(c) the long-term location of the funds available with the aim of assessing them in the form of future revenue.

(2) Item "A.III.1. The shares - controlled or controlling person" shall include in particular equity interests in controlled persons under the law governing the commercial corporation provisions on the amount of voting rights under the special legislation shall not apply.

(3) Item "A.III.2. Shares - material influence 'includes, in particular, equity interests in controlled entities under the law governing the trading corporation in which the entity exercises a significant influence, and that equity participation is not recognised under item" A.III.1. Shares - controlled or controlling person'.

(4) Heading "A.III.3. Debt securities held-to-maturity 'includes debt securities that have a specified maturity and for which an entity has the intention and ability to hold until their maturity.

(5) Item "A.III.4. Loans to the organisational components" includes in particular loans with a maturity of more than one year, provided by the entity to its own organisational components, if they are entities.

(6) Heading "A.III.5. Other long-term loans' include in particular other loans with a maturity of more than one year not included in other items of long-term financial assets.

(7) Item "A.III.6. Other long-term financial assets" includes other securities not included in other items of long-term financial assets, equity not included in item "A.III.1. Shares - controlled or controlling person 'and" A.III.2. Shares - material influence', fixed-term deposits with a maturity of more than one year and assets transferred to another entity in the form of contracts for the lease of tangible movable and immovable property agreed before 1 January 2001, subject to compliance with the conditions laid down by the special legislation. 17)

§ 10

Long-term property certificates

"A.IV.1. Intangible R & D results certificates'," A.IV.2. Software certificates', "A.IV.3. Valuable rights certificates'," A.IV.4. Small-time intangible assets', "A.IV.5. Other fixed-term intangible assets'," A.IV.6 Construction licences', "A.IV.7. Authorisations for separate material moveable items and sets of tangible movable items'," A.IV.8. Organs for permanent crops', "A.IV.9. Organs for basic herds and towing animals'," A.IV.10. Small-scale tangible assets' and "A.IV.11 The rights to other fixed tangible assets" include the rights to the relevant fixed assets, which express the use of the relevant assets in a financial statement, which reduces the valuation of the relevant assets up to the amount of its valuation in accounting while entering the entity's costs by depreciation.

§ 11

Stocks

(1) The item "B.I.1. The material in stock" contains in particular:

(a) raw materials, that is the basic material which, during the production process, transmits wholly or partly into and forms the essence of the product;

(b) excipients which also pass directly into the product but do not form the essence of the product, such as paint on products,

(c) substances needed to ensure the operation of the entity, such as lubricants, fuel, cleaning products;

(d) spare parts,

(e) packaging and packaging materials, unless they are charged as long-term property or goods;

(f) other tangible movable goods with a period of validity of up to one year, irrespective of the amount of the valuation;

(g) tangible movable goods and their sets with a shelf life of more than one year, not declared under item "A.II.4.. Substantial movable goods and sets of goods', considered to be small tangible property for which the entity accounts as stocks,

(h) experimental animals 35).

(2) Item "B.I.2. The travel material" contains the property referred to in paragraph 1 that has been accounted for by the supplier but has not yet been physically taken over by the entity.

(3) Item "B.I.3. Unfinished production" includes products which have undergone one or more stages of production and are no longer material but are not yet finished product, the unfinished performance of other activities where no tangible products are produced.

(4) Item "B.I.4. Semi-finished products of own production" includes separately registered products that have not yet passed all production stages and will be completed or assembled into finished products in the entity's next manufacturing process.

(5) The item "B.I.5. Products" contains items of own production intended for sale or consumption within an entity.

(6) The entry "B.I.6. Young and other animals and their groups" contains animals and their groups, including animals for slaughter (36), not reported under "A.II.6." Adult animals and their groups', "B.I.1. Material in stock 'and" B.I.7. Goods in stock and stores. "

(7) Item "B.I.7. Goods in stock and in stores' contain, in particular, tangible movable goods and animals acquired for sale when an entity trades such goods and animals. The entry also includes products of own production which have been activated and transferred to their own stores, and animals of their own production which have matured have been activated and are intended for sale except for slaughter animals (36). The item also includes real estate items that are purchased for sale by an entity whose business is the purchase and sale of real estate.

(8) Heading "B.I.8. Goods on the journey 'shall include in particular the tangible movable goods and animals referred to in paragraph 7 which are accounted for by the supplier but not yet taken over by the entity.

(9) Heading "B.I.9. The advances on stocks provided" includes short and long-term advances and subsidies granted for the acquisition of stocks.

§ 12

Claims on trading relationships

(1) The item "B.II.1. Collectors" contains short-term and long-term claims for supplies and services made to customers resulting from commercial relations. This item does not include foreign exchange receivables.

(2) The item "B.II.2. Receipt notes" contains short and long-term exchange claims on customers and other debtors from foreign exchange notes and off-balance sheet notes.

(3) Heading "B.II.3. Receipts on outstanding securities' shall include claims for notes transferred to the bank for reimbursement, up to the maturity of the notes and claims for other securities with a term of maturity, transmitted to the bank for reimbursement.

(4) Heading "B.II.4. The operational advances provided" includes long-term and short-term advances and subsidies provided to suppliers for supplies resulting from commercial relations. The advances and debts referred to in Sections 7 (9), 8 (11) and 11 (9) shall not be included in the item.

(5) The heading "B.II.5. Other claims" includes other short-term and long-term claims on commercial relations, not mentioned in paragraphs 1 to 4, in particular claims on suppliers due to claims on supplies.

§ 13

Claims on employment relationships

(1) Item "B.II.6. Receipts on staff 'shall include claims on staff, in particular on the basis of advance payments for travel and other advances which are required to be charged by staff.

(2) Heading "B.II.7. The claims on social security institutions and public health insurance" shall include claims on the relevant institutions both by way of compulsory premiums provided for under the laws governing compulsory premiums and by way of voluntary premiums and similar transactions.

§ 14

Taxes and subsidies - receivables

(1) Heading "B.II.8. Income tax" includes, for taxpayers, income tax claims for both the current and the previous financial years.

(2) Heading "B.II.9. Other direct taxes" includes claims on other direct taxes, in particular those on dependent activities, collected by an entity as a payer from its employees, members of statutory bodies and, where applicable, other persons.

(3) Heading "B.II.10 Value added tax 'contains claims, in particular, on claims for reimbursement of value added tax.

(4) Heading "B.II.11. Other taxes and charges" shall include, in particular, claims on taxes other than those referred to in paragraphs 1 to 3, fees and other similar cash transactions.

(5) Appropriations "B.II.12. Entitlements on subsidies and other accounts with government budget 'and" B.II.13. Entitlements for subsidies and other settlement with the budget of the authorities of local and local authorities "shall include entitlements for subsidies where specific legislation or relevant contracts permit the accounting of claims.

§ 15

Other claims

(1) Heading "B.II.14 Credits for corporate associates" includes short-term and long-term claims arising from an entity's activities in a company that does not have a legal personality on the basis of a company contract concluded under the Civil Code with other members associated in that company.

(2) Heading "B.II.15 Claims arising from fixed-term transactions and options' shall include claims arising from fixed-term transactions carried out with financial instruments, or changes in the fair value of those instruments, where they are of the nature of a claim.

(3) Heading "B.II.16. Debt securities issued 'contains debt from issuers under the subscription of short-term and long-term bonds.

(4) Heading "B.II.17. Other claims" shall include short-term claims which are not included in other items of claims, in particular claims for damages from the person responsible, advances and debts paid to persons other than persons in employment, unless they are advances and debts referred to in Articles 7 (9), 8 (11), 11 (9) and 12 (4).

(5) Heading "B.II.18. Outstanding accounts" contains amounts of long-term and short-term claims established in particular under contracts which are not supported by all necessary documents at the date of drawing up the accounts and are therefore not known.

(6) Heading "B.II.19 The claim adjustment item" contains the adjustments made to individual claims under the law governing the provision for determining the income tax base in cases where the claims relate to the activity of the entity subject to income tax.

§ 16

Short-term financial assets

(1) Item "B.III.1. Cash in the cash register" includes cash in the cash held by the entity in the cash register at the date of drawing up the financial statements.

(2) The entry "B.III.2. Prizes" includes the status of, in particular, postage stamps, stamps, motorway coupons, cards (petrol, telephone), which represent a certain asset value with a drawing limit, from which, after being issued into use, it will be possible to draw, the condition of food stamps to public catering establishments and the condition of other vouchers and cards having the nature of the prices.

(3) Item "B.III.3. Cash in accounts" contains available cash in bank accounts or in the case of savings and credit cooperatives. If a bank or savings and credit cooperative allows a passive balance for the current account to be recognised at the end of the balance sheet, that balance shall be entered under liability item "B.III. 18. Short-term loans'.

(4) Items "B.III.4. Property securities for trading" and "B.III.5. Debt securities to trading" shall include securities intended to be traded held by an entity for less than one year for trading in them and for making gains on price differences.

(5) Item "B.III.6. Other securities" includes other short-term securities not included under item "B.III.4. Property securities for trading 'and" B.III.5. Debt securities for trading'. This item also includes debt securities held to maturity where the maturity is less than one year.

(6) Heading "B.III.7. Cash on the way" contains the status of any funds that have not yet been credited to or debited from the account due to a time mismatch in deposits, withdrawals and transfers between bank accounts or savings and credit cooperatives of the entity or treasury. The status of the balance sheet assets shall be shown at a positive or negative value, depending on the nature of the final balance of the account 261 - Money on the way.

§ 17

Other assets, total assets

(1) Items "B.IV.1. Cost of future periods" and "B.IV.2. Future income" includes accruals which have an active balance. Item "B.IV.1. The costs of future periods' includes expenditure relating to the costs of future financial years. Item" B.IV.2. The income of future periods "includes amounts not received by the entity that relate in time and in substance to the income of the current accounting year and are not charged directly to the accounts of claims on legal and natural persons.

(2) The item "Total assets" contains the aggregate value of the assets less the value of the adjustments and adjustments to the respective assets.

§ 18

Own resources

(1) The item "A.I.1. Own funds" contains the value of the entity's own resources. The item shall include, where specific legislation so requires or is permitted, the value of the statutory or voluntary equity contribution of the founder of the entity, namely entered in the relevant public register. The item also includes subsidies and special-purpose gifts, provided that they have been accepted as a source of funding for long-term intangible and tangible assets. In addition, the value of the assets acquired free of charge in the long-term intangible and material depreciation minus the rights, the value of the assets acquired free of charge when the assets acquired are used for the entity's principal business. The value of the newly determined and unrecognised non-recognised fixed assets and resources transferred from the funds are also shown here.

(2) The item "A.I.2. Funds" contains special-purpose resources generated either from profits after tax achieved by the entity in previous financial years or from other persons, free of charge, accepted by the entity by transfer or transfer of assets in accordance with special legislation20a). The part of the proceeds of public collections to be used for a predetermined purpose and the value of the stocks acquired free of charge shall also be reported. The item also includes the resources of the entity generated under special legislation21), statutes, statutes, or other instruments of incorporation, instruments of incorporation, internal rules of the entity, or by decision of the entity's authorised authority.

(3) Item "A.I.3. Valuation differences in the revaluation of financial assets and liabilities" includes, in particular, valuation differences in fair value and valuation of equity for securities and shares and valuation differences in fair value of a derivative providing expected cash flows. In the case of an active balance, this item is shown in balance sheet liabilities (balance sheet) at a negative value.

(4) Heading "A.II.1. The profit or loss account" contains the profit or loss of the current accounting year reported at the balance sheet date.

(5) Item "A.II.2. The result of the approval procedure" shall include the result of the entire entity's management in the last financial year.

(6) Item "A.II.3. The undistributed profit, the outstanding loss of past years' includes the entity's outstanding financial results for the previous financial year. It also contains changes to accounting methods and corrections to major errors in previous financial years. In the absence of material error corrections, these corrections shall be reported under the relevant items of the profit and loss account of the current period.

Citation	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 account in the double accounting system
Regulation Type	Order
Author	-
Collection	Code of Laws

Date of Promulgation	05.12.2002
Effective from	01.01.2003
Effective until	-
Status	Valid

Decree No. 504 / 2002 Coll.

Decree 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 account in the system of double accounting

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