Act No. 563/1991 Coll. On Accounting

PLEASE NOTE: The following text has been translated using machine translation and may therefore contain misleading information. Should you wish to engage in legal cases, use either quality translations or professional legal services.

If you find a translation incomprehensible, contact us – we will try to provide a better one.



Act No. 563/1991 Coll. On Accounting

(Effective from 1 January 2014 to 31 December 2014)

563/1991 Coll.

ACT

of 12 December 1991

Accounting

as amended by Act No. 117/1994 Coll., Act No. 227/1997 Coll., Act No. 492/2000 Coll., Act No. 353/2001 Coll.

Act No. 437/2003 Coll., Act No. 257/2004 Coll., Act No. 669/2004 Coll., Act No. 179/2005 Coll., Act No. 495/2005 Coll.

Act No. 57/2006 Coll. Act No. 81/2006 Coll., Act No. 230/2006 Coll., Act No. 264/2006 Coll. Act No. 69/2007 Coll., Act No. 261 / 2007 Coll., Act No. 296/2007 Coll.

Act No. 348/2007 Coll., Act No. 126/2008 Coll., Act No. 304/2008 Coll., Act No. 227/2009 Coll., Act No. 230/2009 Coll., Act No. 410 / 2010 Coll., Act No. 188/2011 Coll.

Act No. 355/2011 Coll . , Act No. 428/2011 Coll . , Act No. 167/2012 Coll . , Act No. 239/2012 Coll . , Act No. 503/2012 Coll . and Law No 344/2013 Sb .

 

 

 

The Federal Assembly of the Czech and Slovak Federal Republic has passed the following Act:

 

PART ONE

General Provisions

 

§ 1

 

(1) This Act shall be determined in accordance with the law of the European Union 1) the scope and method of accounting, the requirements of its conclusiveness and conditions of transfer of accounting records for state needs.

( 2 ) This Act applies to the entity , which are

a) legal entities which are located in the Czech Republic,

b ) foreign legal entities and foreign entities that are under the law under which they are based or established, entity or are obliged to keep records if the Czech Republic's business or other activities in accordance with special regulations,

c ) the organization of the state,

d) natural persons who are entrepreneurs as incorporated in,

e) other natural persons who are entrepreneurs if their turnover under the Law on Value Added Tax, 1a), including supplies exempt from this tax, which are not part of the turnover in excess of their business for the immediately preceding calendar year the amount of 25 million CZK, from the first day of the calendar year

f) other natural persons who keep their accounts on the basis of its decision,

g ) other natural persons who are entrepreneurs and are partners in associated companies as at least one of the partners associated in this company is the person referred to in points a) to f ) or h ) to l) ,

h) other natural persons who bookkeeping obligation imposed by special legislation,

i) trust funds under the Civil Code,

j ) the pension funds managed by the company under the law regulating pension and savings under the act governing supplementary pension saving ,

k) investment funds without legal personality under the law regulating investment companies and investment funds , or

l ) those to whom the duty of the financial statements determined by special legislation or accounting units under a special law .

The provisions of subparagraph d ) to h ) shall also apply to foreign individuals . This law also applies to the person responsible for keeping under § 4a .

(3) This Act also lays down conditions enable accounting records for state needs. The survey of accounting records for the state needs is a set of activities that aim to collect the accounting records of the selected entities and entities as provided by this Act or another law, in the central system of state accounting information and the preparation of financial statements for the Czech Republic. The selected entities are the organizational, state funds under the budget rules, local authorities, voluntary associations of municipalities, the Regional Council, organizations and health insurance companies.

(4) Determination of accounting records for the needs of the state, including the preparation of financial statements for the Czech Republic, made by the Ministry of Finance (the "Ministry"), which also manages the central system of state accounting information, ensuring its use in the monitoring, detection and control of activities of the government under a special Act 37) and provides methodological support to selected entities in the determination of accounting records for the state needs.

 

§ 2

Subject Accounting

 

Entity accounts on the status and movement of property and other assets , liabilities including debt and other liabilities, the costs and revenues and profit .

 

§ 3

 

(1) the entity accounts for the double-entry records of facts which are the subject of accounting, in the period to which these facts and time-related issues (the "Reporting Period"), it is not possible to comply with this policy, may charge in the accounting period where such facts are discovered. During the reporting period, the entity accounts for these facts in accordance with accounting methods (§ 4, paragraph 8), taking on all costs and revenues recognized irrespective of the date of payment or acceptance.

(2) The reporting period is continuously consecutive twelve months, unless stated otherwise. Accounting period, either the calendar year or economic year. Marketing year is the accounting period can begin only on the first day of a month other than January. Accounting period immediately preceding the change in accounting period may be shorter or longer than those twelve months.

( 3 ) In the case of transformations of corporations by special legislation ( hereinafter referred to as " the transformation of the business corporation" ) , with the exception of changing the legal form of a cross-border transfer of the seat , the applicable accounting period begins on the date and ends on the last day of the accounting period in which the entry was made above in the Commercial Register , in the case of a successor entity , the entity channeling spin-off or a successor shareholder in case of transfer of assets . For participating entities accounting period ending on the day preceding the reference date under a special law .

(4) The period may be longer than 12 months also

a) the establishment of an entity in a period of 3 months before the end of the calendar year

b) the dissolution of the entity in a period of 3 months after the end of the calendar year or economic year

c) if this Act or special legislation closing day within 3 months before the beginning of the current period,

d) if this Act or special legislation closing day within 3 months after the end of the current financial year and does not extend to such a sense of balance sheet of the current period,

e ) If a decisive day for the acquiring entity , an entity distributed spin-off or successor shareholder in case of transfer of assets into a period of 3 months before the end of the calendar or fiscal year, and there is in this period while the registration of the transformation business corporations in the Commercial register.

(5) Entities that are not a government department, local government unit or entity arising or established by special law, 1c) can be applied year. Apply the marketing year is only after notification to change the period locally competent tax income of at least 3 months before the planned change in accounting period or before the end of the current accounting period, whichever is earlier from date, otherwise the period remains unchanged. Such a change in accounting period, an entity in the current accounting period to make only once. Similarly, the entity shall act as you move from the marketing year for the calendar year.

(6) Apply the marketing year under the conditions specified in paragraph 5 may also

a) the entity within 30 days from the date of the entity or

b ) the acquiring entity , the entity channeling spin-off or transposing a partner in the event of transfer of assets within 30 days from the date of registration of the transformation business corporations in the Commercial Register.

 

§ 4

 

(1 ) The entity referred to in § 1 , point 2 . a) , c ) and i ) to l ) are obliged to keep records of the date of its creation until the day of his death ; entity mentioned in § 1, paragraph 2 , point . b ) are obliged to keep records of the date of commencement of operations until the date of termination in the Czech Republic.

(2) An entity referred to in § 1, paragraph 2, point. d) are obliged to keep accounts from the date of incorporation until the date of removal from the register, they suffered the obligation to keep accounts pursuant to § 1, paragraph 2, point. e), g) or h).

(3) An entity referred to in § 1, paragraph 2, point. e) are obliged to keep records from the first day of the accounting period following the calendar year in which they have become an entity until the last day of the accounting period in which they ceased to be the entity that incurred the obligation to keep their accounts according to § 1 paragraph 2 point. d), g) or h).

(4) An entity referred to in § 1, paragraph 2, point. f) are obliged to keep records from the first day of the accounting period following the period in which they have decided to keep accounts, unless the lead in accounting from the date of commencement of business or other self-employment until the date of cessation of those activities or to the last day of the reporting period in which they have decided to terminate the book-keeping, and if they incurred the obligation to keep accounts pursuant to § 1, paragraph 2, point. d), e), g) and h).

(5) An entity referred to in § 1, paragraph 2, point. g) are obliged to keep records from the first day of the accounting period following the period in which

a) became a partner in the associated company , or

b ) some of the partners in the company became associated entity

until the last day of the accounting period in which they ceased to be shareholders in associated companies suffered when their obligation to keep accounts in accordance with § 1 paragraph 2, point . d ), e) or h) .

(6) An entity referred to in § 1, paragraph 2, point. h) are obliged to keep records of the date of commencement of operations until the date of termination, unless a special law provides otherwise, and neither the obligation to keep their accounts according to § 1, paragraph 2, point. d), e) or g).

(7) With the exception of termination may be an entity pursuant to § 1, paragraph 2, point. d) to h) Terminate the bookkeeping soon after 5 consecutive accounting periods in which leading accounting.

(8) The units are obliged to follow especially accounting chart of accounts, the classification and identification of financial statements and consolidated financial statements, the content of the statements, accounting methods, conditions of readmission accounting records and other conditions set by keeping the implementing legislation . Implementing legislation for each group entity adjusts

a) the scope and method of preparing the financial statements and annual reports ,

b) arrangement, description and definition of property and other assets, liabilities and other liabilities in the financial statements, including the layout, content labeling and definition of off-balance sheet accounts

c) the arrangement, description and definition of costs, revenues and results of operation in the financial statements

d) layout and definition of explanatory and supplementary information in the Annex to the financial statements, including information on the management of state budget and budgets of local governments,

e) the layout and definition of cash flow statement and statement of changes in equity

f) guiding chart,

g) the accounting methods, particularly methods of measurement and their application file including the valuation of assets, processes of creation and use of provisions, depreciation methods, procedures and use of reserves,

h) the methods of transition from a simple accounting or tax records under special legislation 1d) accounting,

i) the arrangement, description and definition of the consolidated financial statements

j) the consolidation of financial statements,

k) process including entities in the consolidated group,

l) the definition of the selected entities and determine which of them transmitted to the central system of state accounting information only accounting records for the preparation of financial statements for the Czech Republic and the State sub-consolidated groups,

m) the rules for the format, structure, transmission and security of accounting records in a technical form of selected entities

n) the requirements for technical and mixed forms of accounting records, including those for their relevance, transmission and storage,

a) the extent and frequency of transmission of the accounting records of the selected entities to the central system of state accounting information,

p) the scope and method of preparation of financial statements for the Czech Republic and the State sub-consolidated groups,

q) The arrangement, description and definition of property and other assets and liabilities and other liabilities in the financial statements for the Czech Republic and the State sub-consolidated groups, the selected entities is part of IPC binding pattern of the financial statements,

r) ordering, labeling and definition of costs and revenues and cash flows in the financial statements for the Czech Republic and the State sub-consolidated groups,

a) organizing, labeling and definition of explanatory and supplementary information in the financial statements of selected entities in the Annex in the financial statements for the Czech Republic and the State sub-consolidated groups,

t) and consolidation of their use in preparing financial statements for the Czech Republic and the State sub-consolidated groups,

u) requirements of the organization and how to perform an inventory of selected entities

v) Methods of converting business corporations, including modifications carried out under transformations of the corporation on the date of registration in the Commercial Register with effect from the effective date , method of assembly and the opening balance sheet adjustments in cross-border conversion , deposit or sale of a business ,

w) the requirements for the organization of the clearance of accounts selected entities and arrangements for cooperation of those involved in the approval process.

(9) An entity shall keep accounts for an entity as a whole.

(10) Accounting units are obliged to keep books in a set of accounting records; And they can use technical means, media and software. Accounting records means the data that is a record of all facts relating to accounting. Any fact relating to the accounting entity is required to record exclusively accounting records.

(11) Individual records can be grouped into summary accounting records, such accounting records are primarily accounting documents, accounting records, ledgers, depreciation schedule, inventory lists, chart of accounts, financial statements and annual report. Entities are required to maintain accounting records lead at least to the extent provided by law.

(12 ) Entities are obliged to keep accounts in monetary units Czech currency. In the case of receivables and payables, interest in a company , 2 ) the rights of securities 3 ) and dematerialized securities (the " Securities" ) and derivatives , 4) valuables, when expressed in foreign currency , and foreign currencies are entities are required to use at the same time foreign currency , this obligation also applies provisions, reserves and technical provisions , 6) if the assets and liabilities to which they relate , are denominated in a foreign currency.

(13) Accounting units are obliged to keep accounts in the Czech language. The accounting documents may be made in a foreign language only if the condition of intelligibility according to § 8 paragraph 5

(14) The information system under a special legal regulation 7) accounts can only be considered as a whole.

(15) Entities are required in the relevant accounting period, accounting method used under paragraph 8 as in force at the beginning.

 

§ 4a

 

(1 ) In keeping trust funds , including the financial statements and the fulfillment of other obligations stipulated by this Act , is responsible administrator , if several administrators charged with common management , jointly and severally. Accounting for trust funds , which are investment funds under the law regulating investment companies and investment funds , including the financial statements and the fulfillment of other obligations stipulated by this law , are responsible administrator and Management Company jointly and severally.

( 2 ) In keeping other investment funds without legal personality under the law regulating investment companies and investment funds , including the financial statements and the fulfillment of other obligations stipulated by this law , are responsible administrator and Management Company jointly and severally.

( 3 ) In keeping other entities without legal personality , including the financial statements and the fulfillment of other obligations stipulated by this law , responsible person that is saved prepare financial statements, and the person who acts on behalf of an entity , or other person , which stipulated by a special law , and to jointly and severally.

 

§ 5

 

(1) An entity may entrust the leadership of its accounting and other legal or natural person.

(2) authorization under paragraph 1 shall not relieve the entity has responsibility for accounting.

 

§ 6

 

(1) Entities are required to capture the facts that are subject to accounting, (hereinafter referred to as "carrying cases") accounting documents.

(2) Entities are required to record accounting transactions in the books (the "accounting entries") on the basis of the relevant accounting records in accordance with paragraph 1

(3) Entities are required to inventory assets and liabilities according to § 29 and 30

(4) Accounting units are obliged to compile financial statements according to § 18 as good, or as a special or interim, and, moreover, in cases provided for in § 22 to 22b are compiled and consolidated financial statements.

(5) Entities and other entities, as provided by this Act or any other law, are required to submit records to the central system of state accounting information and to take records from a central system of state accounting information, or take request for transmission of the requested accounting record pursuant to a special legal regulation governing rules for the format, structure, transmission and security of accounting records in a technical form of selected entities.

(6) In the event that a special law approved by the founder or other entity selected financial statements of an entity, provide the selected entity synergy for the approval of its financial statements.

 

§ 7

 

(1) Entities are required to keep records so that the financial statements which give a true and fair view of the accounting and financial situation of the entity.

(2) The display is true if the content of financial statements corresponding to the actual state that is displayed while in accordance with accounting methods, the use of an entity is imposed under this Act. The display is honest when he used the accounting method in a way that leads to achieving loyalty. Where an entity can choose between several options and the accounting methods chosen option would be papered over the real situation, the entity shall select another option that corresponds to the actual state. Where in exceptional cases, the application of accounting methods provided for implementing legislation is incompatible with the obligations under paragraph 1 shall proceed notwithstanding an entity so that it is administered fairly.

(3) An entity shall apply the accounting methods in a way that assumes that it will discontinue its activities and does not occur to her that there is no evidence that it would restrict or prevent it in this activity to continue for the foreseeable future. In the event that the entity has information about it such that in fact occurs is required to apply accounting methods means appropriately, with information on the method used are required to attach to the financial statements.

(4) The arrangement and labeling of the balance sheet and profit and loss and their content definition and valuation methods used in one accounting period, the entity changed in the subsequent period. An entity may have the structure and content labeling and the definition and valuation change in whole or in part between accounting periods only by reason of amendments of business or other activities, or for reasons of clarification and improvement of a fair presentation financial statement presentation, and information about any such change with its proper justification are required to attach to the financial statements.

(5) Entities are required in the financial statements [§ 18 paragraph 1 point. c)] always give information about the accounting methods, if any, deviations from these methods in accordance with paragraph 2 with the proper justification and details of their impact on the assets and liabilities, financial position and profit entity. Selected entity reported in the financial statements is also information about your account off-balance sheet accounts in the book.

(6) An entity shall account for assets and liabilities, as well as funding the state budget funds and local government budgets, costs and revenues in the accounting books and display them separately in the financial statements without clearing them. Violation of clearing cases are modified accounting methods.

 

§ 8

 

(1) Entities are required to keep records accurate, complete, conclusive, clear, transparent way that ensures sustainability and accounting records.

(2) Accounting entity is correct, if the entity shall keep accounts so that it is not contrary to this Act and other legislation or circumvent their purpose.

(3) Accounting is a complete entity if the entity recorded in the accounting period in the books of all transactions that it had recognized under § 3, and by the end of this period for him immediately preceding financial year has prepared financial statements, as appropriate, consolidated financial statements drawn up an annual report or the consolidated annual report to disclose information pursuant to § 21a and has all the facts about these records, and clearly arranged.

(4) The accounts of an entity is conclusive, if all of the accounting records are significant (§ 33a) and made an inventory of the entity.

(5) Accounting entity is understandable, even if the context allows an individual reliably and unambiguously identify

a) at least the contents of accounting transactions using accounting methods specified in § 4, paragraph 8,

b) the contents of accounting records using the tools mentioned in § 4, paragraph 10,

c) link between the accounting records resulting from the grouping and sub-accounting records in cases under § 33 paragraph 5

(6) The accounts of an entity is conducted in a manner that ensures sustainability accounting records, if the entity is able to fulfill obligations associated with their storage and processing in accordance with § 31, 32 and § 33 paragraph 3 and 7 for the entire period during which it by this Act saved.

 

 

PART TWO

Scope of bookkeeping, accounting documents, accounting records and books

 

§ 9

Scope of Accounting

 

(1) Unless this Act or special legislation provides otherwise, an entity shall keep accounts in full.

(2) An entity referred to in § 19a and 23a in accounting fully the methods of these provisions.

(3) The entities under § 1, paragraph 2, point. a) b) may result in a simplified accounting extent

a) civic associations, their organizational units , 8) having legal personality , churches and religious societies 8a ) or denominational institution that is a legal entity registered under the law regulating the status of churches and religious societies , 9) charities, hunting communities , 10 ) endowment funds and unit owners , 10a )

b) housing associations, which are not required to have audited financial statements, and associations that are established solely for the purpose of providing economic, social or other needs of its members, 10b)

c) subsidized organizations that are not consolidated entity under this Act, under which the decided by its founder,

d) other entity for which this is provided by special law.

( 4) Entities pursuant to § 1, paragraph 2 , point . d ) to l ) can keep accounts in the simplified ones that are not required to have their financial statements audited, or those for which it provides a special law.

(5) The obligation to keep accounts in full each entity is no longer fulfills the conditions set out in paragraph 3 or 4 in a simplified accounting extent, on keeping in a simplified scale, an entity may pass if it meets the conditions set out in paragraph 3 or 4 in a simplified accounting range. Changes in scope of bookkeeping can be done only on the first day of the accounting period following the accounting period in which the entity discovered those facts.

 

§ 10

repealed by Law No. 353/2001 Coll.

 

 

§ 11

The accounting documents

 

(1) The evidence is conclusive accounting records, which must include

a) to identify the accounting document

b) the content of the financial case and its participants

c) a sum of money or information about the price per unit and number of observations,

d) an instant copy of the accounting document

e) time of the transaction, if not identical with the time referred to in subparagraph d)

f) signature of according to § 33a paragraph 4 of the person responsible for the carrying case and signature of the person responsible for its recognition.

The facts referred to in subparagraphs a) to f) relating to the accounting document, may be included on multiple accounting records. The facts referred to in subparagraphs b) and c) may cover multiple transactions. In these cases, the accounting record and accounting document must contain an identifier which can uniquely determine the correlation between accounting records and accounting document, including related facts. Signature by the letter f) may be common to multiple accounts.

(2) An entity shall prepare accounting documents without undue delay after the fact, that they depict, so in order to determine the contents of each accounting transaction method according to § 8 paragraph 5

 

§ 12

Entries

 

(1) Accounting records are records whose content is determined by the provisions of this Act relating to the accounting ledgers.

(2) An entity shall make the accounting records kept in the accounting period following the issuance of an accounting document in a manner that will not jeopardize compliance as well as other legislation. The accounting entry must be accompanied by signature of the person responsible for its implementation, if not identical to the signature of the person responsible for recording accounting transactions.

(3) Entries must not carry out the entity's accounting books.

 

§ 13

§ 13 Accounting books

 

(1) The unit charge, unless this Act provides otherwise:

a) in the diary (diaries) in which the accounting entries arranged in terms of time (in chronological order) and which demonstrates accounting of all accounting transactions in the accounting period

b) in the general ledger in which accounting entries arranged in terms of material (systematic)

c) analytical accounts in the books, which detail the elaborate accounting ledger entries,

d) off-balance sheet accounts in books, in which the state accounting records, which are not made according to the books) and b).

(2) The book includes accounts by synthetic chart of accounts, which contain at least the following information:

a) balances on the date on which the book opens the main,

b) the aggregate turnover on the debit side and gave accounts, at least for the calendar month, the selected entity's reported aggregate turnover day, fulfilled this obligation if the selected entity in another ledger,

c) the balances on the date on which it prepares the financial statements

(3) An entity may establish accounts outside the chart of accounts and ledgers.

 

§ 13a

Simplified range of accounting

 

(1) Entities that keep their accounts in a simplified scale,

a) compile chart of accounts, which may indicate only account group does not require a special legal regulation 11a) more detailed breakdown,

b) may connect with accounting journal accounting in the general ledger,

c) apply the provisions of § 25, paragraph 3, with the exception of depreciation,

d) apply the provisions of § 26 paragraph 3 concerning the reserves and provisions, excluding reserves and provisions pursuant to special legislation, 11b)

e) apply the provisions of § 27 with the exception of § 27 paragraph 3 in the conversion of housing cooperatives,

f) prepare financial statements to the extent provided for each group of entities (§ 4, paragraph 8) by the implementing regulation.

(2) Entities that keep their accounts in a simplified range pursuant to paragraph 1 may apply the provisions of § 13 paragraph 1 point. c) and d).

(3) the procedure set out in paragraphs 1 and 2 is not a violation of § 3 paragraph 1 and § 7 paragraph 1 and 2

 

§ 14

Chart of accounts and chart of accounts

 

(1) chart of accounts, the organization and designation of accounting classes or account groups, or even synthetic accounts for the accounting of state and movement of assets and other assets, liabilities and other liabilities, the costs and revenues, and profit, the organization must ensure that the assembly financial statements. For the selected entity's chart of accounts may also determine the layout and marking and labeling of the analytical accounts and arrangement of off-balance sheet accounts.

(2) On the basis of chart of accounts referred to in paragraph 1 are obliged to establish an entity chart of accounts, stating the accounts required to post all accounting transactions and preparing financial statements in the entity.

(3) Entities compiled chart of accounts in accordance with paragraph 2 for each accounting period during the accounting period is the chart of accounts can be complementary. If not for the first day of the accounting period to change the current chart of accounts in the previous reporting period, the entity shall proceed in accordance with this schedule in the coming period.

 

§ 15

repealed by Law No. 437/2003 Coll.

 

§ 16

Other provisions on the books

 

(1) Monetary amounts in the books of the analytical accounts must comply with appropriate aggregate amounts of turnover or cash balances of ledger accounts, to which these accounts are maintained.

(2) In the books of accounts shall be used for analytical expressions in monetary units, can be used only units of measure and quantity terms.

 

§ 17

Opening and closing the books

 

(1) Unless otherwise provided, the entity's open books

a) the date of the obligation to keep records

b) the first day of the reporting period

c) the date of entry into liquidation,

d) the day following the date of drafting the distribution of the liquidation value or the day following the date of preparation of report on disposition of property under special legislation,

e) the date on which the decision takes effect on bankruptcy or on which the court takes effect on the conversion of reorganization in bankruptcy,

f) the day following the date on which the revocation takes effect bankruptcy

g) the date on which the approval takes effect the reorganization plan,

h) the day following the date on which the reorganization takes effect compliance plan

i) the day following the date on which the plan takes effect discharge or

j) the date on which the opening balance sheet for the special legislation.

(2) Unless otherwise provided, the entity closing the books

a) the date of termination of the obligation to keep records

b) the last day of reporting period

c) the date preceding the date of entry into liquidation,

d ) the date of dissolution without liquidation , with the exception of transformations of corporations,

e) the day preceding the date on which the decision takes effect on bankruptcy or on which the court takes effect on the conversion of reorganization in bankruptcy,

f) the date on which the revocation takes effect bankruptcy

g) the date preceding the date on which the approval takes effect the reorganization plan,

h) the date on which the reorganization takes effect compliance plan

i) the date on which the plan takes effect discharge or

j) the date on which the obligation to close the books and prepare financial statements by special legislation.

( 3 ) the entity involved in the transformation of business corporations open up the books as of the date of the conversion of business corporations and keep their accounts separate from the decisive day of business corporations to write the conversion of business corporations in the Commercial Register. The successor entity that is not participating entities , opening the books on the date of registration of the transformation business corporations in the Commercial Register with effect from the effective date in accordance with the method of transformation of business corporations. At the date of registration of the transformation business corporations in the Commercial Register on the day before or the day following the date of registration of the transformation business corporations in the Commercial Register does not prepare financial statements , unless stated otherwise. The financial statements do not compile the acquired entity as of the last day of the accounting period after the closing date , if the date of registration of the conversion of business corporations to take place in the following period .

(4 ) In case of transfer of assets to a successor shareholder who does accounting, the acquired entity participating closes the books on the day preceding the date of registration of the transformation business corporations in the Commercial Register.

(5 ) If, during the transformation of cross-border business is the successor corporation or by the receiving partner is a foreign entity and the dissolving of the participating entity under § 1 , paragraph 2 , point . a) an entity created pursuant to § 1, paragraph 2 , point . b ) does not open the entity as of the date of its activity books, but continues to lead the accounting adjustments made in accordance with the methods of conversion business corporation with effect from the effective date . If you cross- conversion is the successor corporation or business partner , transposing the foreign person and the dissolving of the participating entity under § 1 , paragraph 2 , point . a) the entity does not arise under § 1 , paragraph 2 , point . b ) closes the acquired entity participating in § 1 , paragraph 2 , point . a) books to the date of termination . This provision does not apply to cross-border change of legal form and the cross .

(6 ) In accordance with paragraphs 3-5 is not followed , it is in the transformation business corporation date of registration of the conversion of business corporations in the commercial register of the same with the effective date . When this conversion Trade Corporation concluded an entity involved in the transformation of business corporations ledger on the day preceding the record date conversion business corporations. The reference date conversion business corporations only open the books of the acquiring entity , the entity demerger or spin-off the receiving partner in the case of transfer of assets . In the case of cross-border conversion , unless the parties being acquired entity under § 1 , paragraph 2 , point . a) an entity created pursuant to § 1, paragraph 2 , point . b ) , and the entity opens the books as of the date of the conversion of business corporations.

( 7) After approval of the financial statements of an entity may not add other entries at any time thereafter entered into the books except in cases of conversion business corporation referred to in paragraph 3 Until the approval of the financial statements , but not later than the end of the next reporting period , the entity may only reason that the content of financial statements does not correspond to the actual state , has closed the books opened again and make necessary correction of accounting entries and creates new accounts , which this becomes the financial statements in accordance with this Act.

(5) Where the legislation establishing the entity an obligation to draw up regular or extraordinary financial statements as well as interim financial statements, interim financial statements are not prepare.

 

 

PART THREE

Financial Statements

 

§ 18

Financial Statements

 

(1) Entities are compiled in the cases provided by this Act accounts. The financial statements are an integral unit and consists of

a) balance sheet (balance),

b) Profit and loss

c) Annex, which explains and supplements the information contained in the sections referred to in points a) and b), in particular the fulfillment of § 7, paragraph 3 to 5 and § 19 paragraph 5, Annex also contains information on the amount payable, payables to social security contributions employment policy, the amount outstanding liabilities of the public health insurance and the amount of tax arrears registered with the local tax authorities.

Financial statements may also include a cash flow statement or statement of changes in equity. Selected entity prepares cash flows and changes in equity whenever the balance sheet date and for the immediately preceding financial year fulfills the two criteria listed in § 20 paragraph 1 point. a) points 1 and 2

(2) The financial statements referred to in paragraph 1 shall include

a) full name, company name or the name of the entity , where the entity in accordance with § 1 paragraph 2, point . ai) to l ) the registered office or entities under § 1 , paragraph 2 , point . d ) to h ) of residence and place of business , if different from residence

b) the identification number of the person, if an entity has issued,

c) the legal form of the entity,

d) the subject of business or other activity or purpose for which it was established,

e) the balance sheet date (§ 19 paragraph 1) or any other point in time at which the financial statements are prepared (§ 19 paragraph 3),

f) the balance sheet date,

and must be connected to the signature of the statutory body of the entity in accordance with § 1 paragraph 2, point . a) to c ) the signature of the entity in accordance with § 1 paragraph 2, point . d ) to h ) or signature of the persons specified in § 4a entity under § 1 , paragraph 2 , point . i) to l ) attaching said record signing is considered the financial statements prepared in accordance with point f ) . If the date of registration of the conversion of business corporations in the commercial register of the same with the effective date , with the acquired entity's signature recorded by the previous sentence means the signature of the person who was already a statutory body balance sheet date , unless the supreme authority of the entity otherwise .

(3) entity prepares financial statements in full or simplified scale. Unless this Act provides otherwise, in a simplified scale can prepare financial statements of entities that are not required to have audited financial statements, except for joint stock companies that prepare financial statements in full.

 

§ 19

Balance sheet date

 

(1) Entities prepare financial statements at the balance sheet date, which is the date when closing the books. Annual financial statements compiled by the entity on the last day of the accounting period and in other cases compiled an extraordinary financial statements. As the opening balance sheet compiled by the entity in the cases referred to in § 17 paragraph 1, except the first day of the accounting period.

(2) Entities are required to provide information in the financial statements as at the balance sheet date, the same applies for all accounting records to be produced at the balance sheet date or to another point to which it presents its financial statements.

(3) In cases where required by specific legislation, compiled by the entity's financial statements during the reporting period, as other time than at the end of the balance sheet date (the "interim financial statements"). In cases establishing interim financial statements of an entity does not enter into the books and made only for purposes of inventory valuation statement according to § 25, paragraph 3, the other provisions of this Act relating to accounts shall apply mutatis mutandis. The obligation to apply the provisions of § 25 paragraph 3 and other provisions concerning the application of accounting methods for compiling the balance sheet date, the interim financial statements of the selected entity does not apply. Entities under § 1, paragraph 2, point. a), b) and d) to h) in receipt of funds from the state budget or local government budgets and are required to handle these funds under a special law, 11d) and apply the marketing year under § 3, 2 and 3, compiled at 31 December of the calendar year, interim financial statements, which apply the provisions of § 24 paragraph 2 point. b) and § 24 paragraph 6 point. b).

(4) an entity prepares a balance sheet so that the opening balances of the accounts, which includes balance sheet, (hereinafter called "balance bills"), which opens the book, followed the closing balances of balance sheet accounts, which the immediately preceding period has concluded, this provision applies for off-balance sheet accounts.

(5) For the period beginning at the end of the balance sheet date and the ending time of the financial statements of an entity is required to attach to the financial statements also include information on

a) the factors that provide more information about the conditions or circumstances that existed at the balance sheet date,

b) facts or conditions as uncertain situation existed at the balance sheet date,

and the consequences of changing an important perspective on the financial situation of the entity.

(6) Information in the financial statements must be reliable, comparable, understandable and assessed in terms of significance. Information is considered reliable if it meets the requirement of § 7, paragraph 1, and if complete and timely. The information is timely if it is obtained at the right time in terms of its significance and the cost of its acquisition, provided these costs do not exceed the benefits resulting from this information. Information is comparable if it meets the requirements set out in § 7, paragraph 3 to 5 Information is considered to be significant (severe), if its omission or misstatement could influence the judgment or decision of the person who uses this information (hereinafter referred to as "user") for entities under § 1, paragraph 2, point. c) and local governments that receive funds from the state budget and manages them, and these funds are required to cope under special legislation, 11d) is also regarded as important information about the valuation of intangible assets in the amount of CZK 60 000 and separate movable goods or chattels set of over 40 000 CZK. Information is understandable if it meets the requirements set out in § 8 paragraph 5

(7) For the purposes of this Act, the assets and liabilities broken down into long and short term. Means a long-term assets and liabilities, where the useful life or agreed maturity in the development of an accounting transaction is longer than 1 year, other assets and liabilities are considered short term. If given the nature of assets and liabilities can not be objectively applied aspects mentioned structure, it is crucial entity expressed an intention for their acquisition.

(8) Where required by law, may provide the entity's accounting records carrying information arranged by subject (species) activities or geographical areas in which they operate.

(9) Except as provided for in paragraphs 1 and 3 record no other book titles must be labeled according to § 18 paragraph 1

(10) financial statements are not collecting or requesting information under special legislation. 12)

 

§ 19a

The use of international accounting standards for accounting

and financial statements

 

(1) An entity that is a commercial company and is the issuer of securities admitted to trading on a regulated European market 36), used for accounting and financial statements IAS governed by the law of the European Union 35) (the "IASB") .

(2) where acceptance of securities issued by an entity referred to in paragraph 1 to the European trading on a regulated market to a different day than the first day of the reporting period, the entity that has used international accounting standards, decides to use them since the beginning of the period in which the admission of securities to such trading occurred, or the beginning of the year following the accounting period in which the securities were admitted to such trading.

(3) If the securities issued by an entity referred to in paragraph 1 are no longer traded on any regulated European markets and thus ceased to be traded to a different day than the last day of the reporting period, the entity decides to apply the international accounting standards until the end of the reporting period in which securities have ceased to be so traded or decide to end their use on the last day of the fiscal year preceding the accounting period in which securities have ceased to be so traded.

(4) The procedure referred to in paragraphs 2 and 3 shall apply, if not directly applicable regulation of the European Union or a special legal regulation.

(5) If the securities issued by an entity referred to in paragraph 1 are no longer traded on any regulated markets of Europe and the highest authority of the entity decides in the end of the accounting period in which securities have ceased to be so traded, the intention to apply within three years from the when securities are no longer traded as follows on the adoption of the new securities to trading on a regulated European market, an entity may elect to apply the international accounting standards until the end of the accounting period in which it has with the adoption of a security for trading.

(6) If by the last day of the accounting period in which ends a three-year period mentioned in paragraph 5, the entity requests for admission to trading on a regulated European market, may extend the application of international accounting standards, even for one accounting period. If this accounting period to the adoption of such security is not trading, not the entity from the next financial year for accounting and financial statements of international accounting standards.

(7) If we can assume that the balance sheet date the entity referred to in § 22 paragraph 3 point. a) or b) shall submit to the consolidated financial statements using international accounting standards, may decide to use international accounting standards for accounting and preparation of its financial statements for that balance sheet date. The decision on the application of international accounting standards for accounting and financial statements and determine the accounting period from which the international accounting standards used, subject to approval by the supreme body of the entity.

(8) If it is anticipated that the balance sheet date the entity referred to in § 22 paragraph 2 to prepare consolidated financial statements using international accounting standards, may decide to use international accounting standards for accounting and preparation of its financial statements for that balance sheet date. The decision on the application of international accounting standards for accounting and financial statements and determine the accounting period from which the international accounting standards used, subject to approval by the supreme body of the entity.

(9) The use of the possibilities of an entity referred to in paragraphs 7 or 8 and are changed condition, even during the reporting period, not accounting for entity financial statements and international accounting standards since the beginning of the period in which there was a change original condition or from the beginning of the period, which was determined by the highest body of the entity, or from the next financial year. However, if the first day of the next accounting period, other reasons for the application of international accounting standards referred to in paragraphs 1 to 8, the entity for accounting and financial statements of international accounting standards in accordance with the provisions of these paragraphs.

 

§ 20

Verification of financial statements by an auditor

 

(1) Where this Act provides otherwise, good or extraordinary financial statements are required to have these audited entity

a) joint stock company as at the balance sheet day of the accounting period for which the financial statements (§ 18 paragraph 3) verify and immediately preceding reporting period, exceeded or already reached at least one of the three criteria:

1) total assets of more than CZK 40 million, total assets for the purposes of this Act, a sum determined from the balance sheet valuation of the unimproved items pursuant to § 26, paragraph 3,

2) an annual net turnover of more than CZK 80 million, total annual net turnover for the purposes of this Act shall mean the amount of the proceeds net of discounts and sales divided by the number of months commenced, which lasted for the financial year, multiplied by twelve,

3) the average number of employees during the accounting period of more than 50, determined the manner provided under a special legal regulation 12)

b ) other business corporation, if the balance sheet date of the reporting period for which financial statements (§ 18 paragraph 3 ) verifying and accounting period immediately preceding , were reached or exceeded at least two of the three criteria referred to in point a) paragraphs 1 to 3 in the case of cooperatives , the employee referred to in subparagraph a) of paragraph 3 means a working relationship between the member and the cooperative

c) an entity under § 1, paragraph 2, point. b) who are entrepreneurs, and under the conditions referred to in subparagraph b),

d ) the entity in accordance with § 1 paragraph 2, point . d ) to h and l ) the conditions referred to in point b )

e ) the entity in accordance with § 1 paragraph 2, point . i) the conditions referred to in subparagraph a) and

f ) the entity to which the obligation is stipulated by special legislation.

(2) An entity referred to in paragraph 1 are not required to have audited financial statements

a) prepared in the course of bankruptcy, and it continuously for 36 consecutive calendar months commencing on the first day of the calendar month following the date on which the effects of the bankruptcy occurred, if the auditor decides creditors' committee,

b) establish the date preceding the date on which the approval takes effect the reorganization plan, if the auditor decides creditors' committee,

c) if there was a cancellation of bankruptcy because the debtor's assets to satisfy creditors is wholly inadequate,

d) if so provided by special legislation.

 

§ 21

Annual Report

 

(1) An entity referred to in § 20 paragraph 1 point. a) to d) shall prepare an annual report, the purpose of which is a comprehensive, balanced and comprehensive information on the development of their performance, activities and current economic status. Annual report nevyhotovuje in the cases specified in § 20 paragraph 2

(2) The annual report shall in addition to the information necessary to fulfill the purpose of annual reports also contain a minimum of financial and nonfinancial information

a) the facts that occurred after the balance sheet date and are relevant to fulfilling the purpose of the annual report pursuant to paragraph 1,

b) the anticipated development of the entity,

c) activities in research and development,

d) activities in the field of environmental protection and industrial relations

e) whether the entity has a branch company abroad

f) required by specific legislation. 13a)

(3) If the material for the assessment of property and other assets, liabilities and other liabilities, financial position and profit entity, the entity that uses investment instruments, 4) or other similar assets and liabilities to include in the annual report also information on

a) the objectives and methods of risk management of the company, including its policy for hedging each major type of scheduled transaction for which hedge derivatives are used, and

b) price, credit and liquidity risks and risks related to cash flow, which the entity is exposed.

(4) The annual report also contains the financial statements in accordance with § 18, 19a, 23a and 22 and the auditor's report or other documents and data under a special legal regulation. 13b)

(5) An entity referred to in § 20 paragraph 1 point. e) prepare an annual report or similar document, if they are obliged to provide special legal regulation. 14)

(6) For the verification of the annual report by the auditor § 20 applies mutatis mutandis; subject to verification is the annual report with the financial statements.

 

§ 21a

Methods of publication

 

(1) The entity under § 1, paragraph 2 are required financial statements and annual report, if required by the copy of this Act or special legislation, to publish those that are entered in the Commercial Register, or those to whom it applies special legislation. 14) An entity presents its financial statements in the extent to which they were prepared (§ 18 paragraph 3). Obligations of the entity to publication or disclosure of any information provided in special legislation 15) are not affected. The provisions on the accounting records under this Act may be used similarly in these cases.

(2) An entity referred to in § 20 published financial statements and annual report of the auditor and approved by competent authority in accordance with special regulations, 16) and within 30 days of meeting both these conditions, unless specific legislation unless a different period, but no later than immediately following the end of the accounting period regardless of whether these records indicated approval.

(3) An entity shall also publish the auditor's report and information that the accounting records have been published or approved as specified in paragraph 2

(4) Entities that are entered into the Commercial Register, published financial statements and annual report of their placing in the Collection of Deeds Register of Companies under a special legal regulation 17) while the financial statements may be filed as part of the annual report. Entities that under a special law to transmit an annual report of the Czech National Bank, submit financial statements and annual report to the collection of documents through the Commercial Register of the Czech National Bank. The publication obligations set of accounting records under this Act at the time the entity has fulfilled its transmission Registry Court, in cases under the second sentence by passing the Czech National Bank.

(5) Government departments published by the Ministry of accounts in a manner allowing remote access to the provisions of special regulations on handling classified information and other similar information shall not be affected. Disclosure of financial statements for the Czech Republic is done similarly.

(6) Entities that are required verification in accordance with § 20, shall not disclose information which was not previously audited, in a way that could mislead the user, that were audited.

(7) disclosure obligation under this provision applies to all information, financial statements and annual reports, except those covered by the secrecy under a special legal regulation. 18)

(8) The provisions of paragraphs 1 to 7 apply to the consolidated financial statements and annual report accordingly.

 

§ 22

 

(1) The consolidated financial statements means the financial statements and the modified methods of consolidation. Unless otherwise Furthermore, the provisions of this Act relating to the financial statements shall also apply to the consolidated financial statements, the consolidated financial statements are verified by an auditor.

(2) The obligation to prepare consolidated financial statements have, in terms of this Act and implementing regulations, an entity that is a commercial company and controlling party 20), with the exception of controlling persons pursuing a common effect in accordance with paragraph 4 (hereinafter referred to as " consolidating entity ").

(3) The obligation to submit to the consolidated financial statements have, in terms of this Act and implementing regulations, a person, regardless of its location, if

a) Controlled Entity 20), with the exception of controlled entities, where the influence exercised jointly pursuant to paragraph 4 (hereinafter referred to as "consolidated entity")

b) a person in which the consolidating or consolidated entity performs joint effect (hereinafter referred to as "entity, under the influence"), or

c) a person in which the consolidating entity exercises significant influence (hereinafter referred to as "affiliated entity").

(4) The combined effect for the purposes of the consolidated financial statements means as influential person in the consolidation together with one or more persons not included in the consolidated group controlled by another person, the person performing collective influence exercised independently of dominant influence over another person.

(5) associates means a significant influence over the management or operation of the company under a special law which is not a decisive 20) or common, unless the contrary is proved, it is considered a significant impact with the disposition of at least 20% of the voting rights.

(6) The Group consists of an entity referred to in paragraphs 2 and 3 point. a), and under the terms of § 22 and its implementing regulations.

(7) The consolidated financial statements must be prepared to give a true and fair view of the accounting and financial situation of the consolidated group of entities under common associates and affiliated entities.

 

§ 22a

 

(1) consolidating entity is not obliged to prepare consolidated financial statements as at the balance sheet day of the accounting period for which the consolidated financial statements are prepared, consolidating entity and consolidated entity together, based on its last full financial statements, failed to meet at least two of the following criteria:

a) the total assets of more than CZK 350 million, total assets for the purposes of this Act, a sum determined from the balance sheet valuation of the unimproved items pursuant to § 26, paragraph 3,

b) an annual net turnover of more than CZK 700 million, total annual net turnover for the purposes of this Act shall mean the amount of the proceeds net of sales discounts, divided by the number of months commenced, which lasted for the financial year, multiplied by twelve,

c) Average number of employees, including those working relationship to a member of the team, determined the manner prescribed by special legislation, is in the reporting period more than 250

(2) Paragraph 1 shall not apply to entities that are banks or operating an insurance or reinsurance under other legislation, or issuer of securities admitted to trading on a regulated European market.

(3) consolidating entity is not obliged to prepare consolidated financial statements, if filing a true and fair view of the accounting and financial situation of the consolidated financial statements sufficient consolidating entity, because the consolidating entity controls only the consolidated entity, which are immaterial individually and in aggregate .

 

§ 22b

 

(1) consolidating the entity is obliged to provide timely and entities referred to in § 22, paragraph 3, that will be consolidated. At the same time they communicate information about the definition of the consolidated group and determined that the accounting records and other documents are required these entities to provide the consolidating entity's consolidated financial statements.

(2) consolidating entity is required to prepare consolidated annual report and ensure the auditing process; subject to verification, compliance consolidated annual report and the consolidated financial statements. Obligations according to § 22 paragraph 2 and 3 and paragraph 1 shall apply mutatis mutandis in relation to the obligation to draw up consolidated annual report. Consolidated annual report is the Annual Report, which contains information about consolidation, entities under common associates and affiliated entities. If the content of the consolidated annual report and all information about the consolidating entity, which must include the annual report, not the consolidating entity to prepare an annual report. Unless otherwise Furthermore, the provisions of this Act relating to the annual report shall also apply to the consolidated annual report.

 

§ 23

 

(1) consolidating the entity is obliged to prepare consolidated financial statements using the methods

a) consolidation,

b) the proportionate consolidation or

c) the equity method of consolidation (in return).

(2) Consolidated financial statements shall be prepared at the balance sheet of the consolidating entity.

(3) consolidating financial statements of the entity and its consolidated entities and entities under common effect used in the preparation of consolidated financial statements compiled by the entity in essentially the same time. Precedes the closing day of the last financial statements of the consolidated entities and entities under the joint influence of more than 3 months the balance sheet date pursuant to paragraph 2, the consolidated entity included in the consolidated financial statements based on it prepared by using the provisions of § 19 paragraph 3 at the balance sheet of the consolidating entity. In the case of entities that operate insurance or reinsurance under special legislation, it may be up to that period of 6 months.

(4) Length of the accounting period in the consolidation of financial statements must be the same. If during the period changes in the definition of entities that are obliged to submit to consolidated financial statements in accordance with § 22 paragraph 3, this information must be included in the Annex in the consolidated financial statements.

 

§ 23a

The use of international accounting standards in the consolidation

 

(1) consolidating an entity that is the issuer of securities admitted to trading on a regulated European market in a Member State of the European Union, the preparation of the consolidated financial statements of international accounting standards.

(2) consolidating entity mentioned in paragraph 1, of the consolidated financial statements to use international accounting standards.

 

§ 23b

 

(1) The preparation of financial statements for the Czech Republic, the provisions of § 22 to 22b, § 23 paragraph 1 to 4 and § 23 apply.

(2) The Czech Republic was compiled annual financial statements of the last day of the calendar year in the following categories:

a) a summary statement of assets and liabilities of State

b) a summary statement of costs and benefits of law,

c) a statement of cash flows

d) Annex.

(3) The financial statements for the Czech Republic and financial statements for the State sub-consolidated group must be accompanied by the signature of the statutory body of an entity that has prepared these financial statements.

(4) Entities included in the consolidated group or sub-consolidated groups have the duty to provide its financial statements and any other documents necessary for the preparation of financial statements for the Czech Republic and financial statements for the consolidated group sub-state entity that the financial statements are prepared.

(5) the conditions for the preparation of annual financial statements and interim financial statements for the Czech Republic, in particular the definition of a consolidated group or sub-consolidated groups of law, determination of consolidation rules, including rules for the transmission of technical accounting records in a form and manner and scope of consolidation and use of methods determination of a variation in an implementing regulation.

 

 

PART FOUR

Valuation

 

§ 24

 

(1) Entities are required to appreciate the ways assets and liabilities under the provisions of this Act.

(2) An entity valued assets and liabilities

a) the time of the transaction methods according to § 25,

b) the balance sheet date or to another moment at which the financial statements are prepared, the methods according to § 27; this award is also required to record in books,

(Hereinafter referred to as "instant prize"). The provisions of this Act, the valuation of assets and liabilities shall apply mutatis mutandis to the valuation of other assets and liabilities.

(3) The acquisition of more than one ingredient, assignment or transfer of property if the property can not evaluate the individual components according to § 25, the entity will appreciate the individual fixed assets

a) on the acquisition of an enterprise or part thereof constituting a separate organizational unit , even in transforming business corporations except for the change of legal form

1) value of individual items of property held in the accounts of the entity from which the right of the undertaking transferred or passed, or

2) value of individual items of property under a special legal regulation

b) in other cases pro rozúčtováním total cost or replacement cost.

(4) The acquisition of movables file with separate technical-economic purpose, which serves a single purpose, or other files provided in the implementing legislation, the file will be appreciated as a whole.

(5) The method of valuation in accordance with paragraphs 3 and 4 adjust the implementing legislation, including the possibility of using the method of valuation according to paragraph 3. a) point 1 in the case of cross conversion, transfer or sale of the company.

(6) Assets and liabilities denominated in foreign currency converted entity to Czech currency at the foreign exchange market announced by the Czech National Bank, and the time of award.

a) under paragraph 2. a);

b) under paragraph 2. b), and only the assets and liabilities referred to in § 4 paragraph 12

When buying or selling foreign currency for the Czech currency is the time of award using the rate for which these values ​​were purchased or sold

(7) For the purposes of valuation under paragraph 2. a) an entity may use to convert foreign currency to Czech crowns fixed rate, which means the rate set by internal regulations of the entity under the exchange rates announced by the Czech National Bank, the accounting unit used for a predetermined period of time. Defined period of time shall not exceed the period. As the exchange rates on the basis of the hard course provides an entity applies the exchange rates announced by the Czech National Bank on the first day of the period for which the fixed exchange rate used. When using a fixed exchange rate, an entity may change the course of its internal regulation during a given time after the declaration of devaluation and revaluation of the Czech crown has to be firm changed course at all times.

(8) The provisions of paragraph 7 shall not apply to entities that need to conduct business in accordance with special legislation banking license, 20a) a license to perform the activities of securities, 20b) permits to establish an investment company or investment fund, 20c) permits formation and activities of the pension fund, 20d) license for the pension of 36), authorization as a credit union, 20e) permission to carry on insurance or reinsurance activities, 20f) a license to carry health insurance. 20 g) Further, the provisions of paragraph 7 apply to the Czech National Bank, 20h) Czech Insurers 20j) and General Health Insurance Company of the Czech Republic. 20k)

(9) In the case of foreign currency, which is not advertised in the course of daily foreign exchange market, the entity for its conversion

a) the interbank market rate for this currency to USD and EUR exchange rates announced by the Czech National Bank for USD or EUR at the same date, or

b) the rate of the last known or published by the Czech National Bank; this procedure apply an entity not subject to the provisions of paragraph 7

 

§ 25

 

(1) the individual components of assets and liabilities are valued

a) tangible assets other than stocks, with the exception of fixed assets developed internally at cost,

b) tangible assets except inventories generated at cost,

c) stocks, with the exception of provisions created internally at cost,

d) developed inventory cost,

e) cash and valuables to their nominal values,

f) shares, securities and derivatives at cost,

g) the assets of nominal value, the acquisition of a fee or deposit of 21) cost, the nominal value of liabilities,

h) Intangible assets other than receivables, excluding intangible assets developed internally at cost,

i) Intangible assets other than receivables generated cost,

j) animal rearing cost,

k) cultural heritage, museum collections, objects of cultural values ​​and religious buildings, is not known if their purchase price, amounting to CZK 1

l) goods obtained free of charge, except property referred to in point e), or property when the cost of his own creation can not determine its own activities, and other property that is not listed under a) to k), replacement cost price.

(2) Other assets and other liabilities, which accounted for the selected entity accounting entries in the books of off-balance sheet accounts for the facts on which the entity charged in connection with the future addition or loss of property or other asset, liability or other liabilities to which may occur under specified conditions or conditions, measured the amount of the estimated value of this component property or other asset or liability or other liabilities.

(3) Entities in the valuation of the balance sheet date comprise just gains that were achieved, and taking into account all foreseeable risks and potential losses relating to assets and liabilities and their possession until the balance sheet as well as any reduction values ​​regardless of whether the economy is the result of the accounting period profit or loss.

(4) The same types of stocks and securities with a basis of valuation under paragraph 1 shall also mean the price appreciation, which arise from the price appreciation of their disposals determined by the weighted arithmetic mean or the manner in which the first price increase for the valuation of assets is used as the first price for the valuation loss of property.

(5) For purposes of this Act:

a) at cost price at which the assets were acquired and the costs associated with the acquisition,

b) the replacement cost price at which the assets were acquired at a time when it is accounted for,

c) the cost of inventory produced internally direct costs of production or other activities, and a proportion of indirect costs relating to production or other activities,

d) the cost of tangible assets except inventories and intangible assets except receivables own operations direct costs incurred in production or other activities, and indirect costs related to production or other activities, as defined in accordance with accounting methods.

(6) In the case of assets pursuant to paragraph 1. l), the replacement cost is not applicable in the case of gratuitous changes belonging to the management of state property or property into custody under the law governing the management of the budgetary rules of territorial self-borrowing or gratuitous transfer of assets between the selected entities: in these cases, the entity valuation assets linked to the amount of the carrying value of an entity that about this property last charged.

 

§ 26

 

(1) If the inventory count, find that their selling price less costs to sell is lower than the price used for their valuation, stocks are valued in the accounts and financial statements by the lower price.

(2) If the inventory is found that the value of liabilities is higher or lower than the amount in the accounts, it shall be liabilities in the accounts and financial statements identified in this award.

(3) The provisions of the valuation in accordance with § 25 paragraph 3 reflect reserves, provisions and depreciation. Reserves under this Act provision for risks and losses, provision for income taxes, provision for pensions and similar obligations, provisions for restructuring. Reserves is further understood technical reserves or other reserves under special legislation. Provisioned to reflect a temporary reduction in value of property, depreciation reflect a permanent impairment.

(4) Entities that are not established for the purpose of business, the provisions of paragraphs 1 to 3 in accordance with accounting methods.

 

§ 27

 

(1) the individual components of assets and liabilities at the time of award pursuant to § 24 subsection 2 letter. b) shall be valued at fair value

a) securities, excluding securities held to maturity debt securities acquired in primary issues not intended for trading entity, securities representing participation in the controlled person or entity and associates of securities issued by the entity

b) derivatives,

c) investments, excluding bonds held to maturity, issued by a Member State of the Organisation for Economic Cooperation and Development and the evaluation was at least two internationally recognized credit rating agencies established by the Czech Republic or greater, unless the investments related to the commitments of life insurance-linked investment risk, and technical provisions for entities that operate insurance or reinsurance under special laws, except for public health insurance 22a),

d) the assets and liabilities when fair value measurement requires special legislation, 23) this does not apply in the cases referred to in paragraph 3,

e) part of the assets and liabilities hedged derivatives

f) claims that the entity is acquired and designated for trading

g) the obligations to return securities that the entity is stolen and the time of valuation is not recovered,

h) for selected entities held for sale assets, except inventories.

(2) The property referred to in paragraph 1 point. a) to h) can be measured at fair value even more than the time specified in paragraph 1

( 3 ) If the law of the transformation of commercial companies and cooperatives requires valuation of the assets in the conversion of a business corporation is valued assets and liabilities at fair value in the cases provided for by the implementing legal regulation ; implementing legislation also provides instant recognition of the fair value.

(4) For purposes of this Act shall be used as the fair value

a) market value

b) valuation by a qualified estimate or expert opinion, if market value is not available or inadequately represents real value, the valuation method used to estimate or opinion of a qualified expert must provide a reasonable approximation to market value,

c) the valuation established under special legislation, can not proceed under a) and b).

(5) Market value means the value published by a European regulated market or on foreign markets similar to the regulated market. Entity for valuation under this Act shall apply a market value that is declared at the time not later than the time awards [§ 24 subsection 2 letter. b)], and closest to the time of valuation. If the property is held on a regulated market, the market value means the closing price published on a regulated market in the working day on which the award is made. If the property is not admitted to trading on a regulated market and is admitted to trading on a foreign regulated market or on foreign markets similar to the regulated market shall mean the highest price the market value of the final price, which was reached on foreign regulated markets, or foreign markets similar to the regulated market on the working day on which the award is made. If the date on which the valuation is done, the markets do not work, the price published them on the last working day preceding the time of valuation, if not known or the price, proceed further under the second sentence.

(6) Where the fair value shall apply the provisions of § 25, paragraph 3, appropriately and valuation differences from revaluation of entities accounted for in accordance with accounting methods.

(7) If the determination of fair value, it is considered that the value of the valuation methods under § 25th Methods according to § 25 shall be valued as assets and liabilities mentioned in paragraph 1, unless stated otherwise. Bonds and other fixed income securities, are not covered by the provisions of paragraph 1 shall be valued at the balance sheet date or to another point to which it prepares financial statements, the purchase price plus or minus interest income or expense, including the valuation claims that income or expense may be increased or decreased in the same way. The share, which is participating in the controlled entity or person with substantial influence may be valued at equity (consideration) applies if an entity that method of valuation is required to be used for valuation of all such shares.

 

§ 28

 

(1 ) An entity having ownership or other property rights, or which manages state property or the property of the local government units , unless specified otherwise it is accounted for and depreciated in accordance with the accounting methods . In the case of a loan 24 ) for securing transfer of rights obligations 25) or in cases where the ownership of movable property acquired pursuant to the expression of will in any other way than by taking things , 26) as well as in other cases stipulated by special legislation or implementing legislation on property accounted for and depreciated over its entities that use it . Assets or parts thereof defined by specific legislation or implementing regulations are not amortized.

(2) The property referred to in paragraph 1 depreciated entity that it provides for a consideration or free of charge to another person for use mainly on the basis of a lease or loan agreement, the provisions of paragraph 1 regarding the loan agreement are not affected.

(3) The property referred to in paragraph 1 depreciated entity that gives it to another person for use under a finance lease, for the purposes of this Act to provide for payment of property available for use if the user is authorized or required during use or after its completion to acquire title to that provided property.

(4) The property referred to in paragraph 1 of amortized tenant unless it is authorized to charge on this property and depreciate it under a lease of an enterprise or part thereof.

(5) An entity that property referred to in paragraph 1 shall apply or not used at this and make technical improvements to the property of their account, this accounts for the technical assessment and depreciated in accordance with its accounting methods.

(6) An entity referred to in paragraph 1 are obliged to compile depreciation schedule to cover depreciation of assets carried out during its use. The assets are depreciated only up to his valuation.

 

 

PART FIVE

The inventory of assets and liabilities

 

§ 29

 

(1) Entities discover the real state inventory of all assets and liabilities and verify that the observed state corresponds to the actual state of assets and liabilities in the accounts and that there are no reasons to account for items according to § 25 paragraph 3 Inventory entity made at the time they prepare financial statements taken as a regular or extraordinary (hereinafter referred to as "periodic inventory"). In the cases referred to in paragraph 2 entities may conduct inventories during the accounting period (the "perpetual inventory"). Provisions on implementation of inventory according to special regulations 27) are not affected.

(2) Continuous inventory entity can only be carried out on stocks, which accounted for by species or by sites storing or materially responsible persons, and in the case of tangible movable property, which due to the function they play in the entity is continuously movement and has no permanent place to belong. The date of the inventory shall be adopted by the entity. Each type of inventory and fixed assets that must be so is inventory at least once per accounting period.

(3) Entities are required to establish the inventory of all assets and liabilities for a period of 5 years after its implementation.

(4) Requirements for the organization and how to perform an inventory of selected entities, including more detailed terms of inventory items, other assets and other liabilities of the implementing regulation.

 

§ 30

 

(1) Entities discover the real state inventory of assets and liabilities and are recorded in the inventory records. These states are finding

a) physical inventory of assets, in which you can visually determine its existence or

b) book inventory for liabilities and assets for which you can not visually determine its existence, including other assets, other liabilities and facts charged in off-book accounts.

(2) An entity during the inventory advance so that they carry out one or more inventories and verify that the observed actual state corresponds to the state in the accounts.

(3) An entity may be a physical inventory to determine the true status of the property by counting, measuring, weighing and other similar ways, or they can use the accounting records that demonstrate its existence.

(4) When the periodic inventory entities may in fact-finding to determine the date on which the actual state measured preceding the balance sheet date (the "record date"), and can complete the survey the actual state of the accounting records, which show increases and decreases assets and liabilities that occurred between that date and the balance sheet date.

(5) When the continuous inventory, paragraph 4 shall apply mutatis mutandis.

(6) An entity during periodic inventory

a) may commence an inventory first four months before that date,

b) terminate inventory of the latest two months after the balance sheet date.

(7) inventory records are conclusive accounting records must contain

a) the elements referred to in paragraph 1, so that it can be identified assets and liabilities also clearly identify

b) the signature of the person responsible for the establishment of facts according to a) and signature of the person responsible for inventory,

c) the identification of the actual conditions

d) the valuation of assets and liabilities in a periodic inventory of the balance sheet date as well as the effective date, or if it is an entity to determine

e) the valuation of assets and liabilities for the ongoing inventory of the date of termination or inventory as well as the effective date, if it is an entity to determine

f) the time at which the financial statements are prepared,

g) the record date, if it is an entity to determine

h) the moment of the start time and the end inventory.

(8) The inventory may be continuous inventory records under paragraph 7 replaced by a transparent accounting record of a physical inventory and inventory accounting differences.

(9) For an inventory of cultural monuments, museum collections and archaeological finds, the provisions of paragraphs 1-8 apply only to the extent that the entity is able to provide an inventory of the property, together with the specific obligations of detecting the actual state of the property. Requirements for the organization and the way the inventory of cultural monuments, museum collections and archaeological finds an implementing regulation.

(10) stocktaking differences means differences between the actual state and the state of the accounts that can not demonstrate the manner provided by this Act, the

a) the actual state is lower than the state of the accounts and the difference is called the deficit or the deficit of cash and valuables, or

b) that the state is higher than the state of the accounts and the difference is called excess.

(11) inventory differences accounted entity in the accounting period for which checks the status of the inventory of assets and liabilities.

(12) Provision for inventory of assets and liabilities shall also apply to the inventory of other assets and other liabilities, including the points charged in off-book accounts.

 

PART SIX

Storage of accounting records

 

§ 31

 

(1) Entities are required to keep, the accounting records for accounting purposes for a period specified in paragraph 2 or 3 Unless provided otherwise in this Act shall apply to handling specific legislation. 28)

(2) Accounting records to be archived, if § 32 is not provided otherwise,

a) Financial Statements and Annual Report for 10 years beginning with the end of the reporting period to which they relate

b) the accounting documents, ledgers, depreciation schedules, inventory lists, chart of accounts, reports for 5 years beginning with the end of the reporting period to which they relate

c) accounting records which demonstrate leadership entity Accounting (§ 33), for a period of 5 years beginning with the end of the accounting period to which they relate.

(3) Obligations related to the Preservation of accounting records and the obligations according to § 33 paragraph 3 pass for entities listed in

a) § 1, paragraph 2, point. a) to c) the legal successor of the entity, and if not him, the liquidator or bankruptcy trustee or other person in accordance with special regulations,

b) § 1, paragraph 2, point. d) to h) in case of death to the heirs take over the assets, rights or other assets belonging to the entity; falls to or part of heritage, including assets, rights or other assets belonging to the entity, state , the obligation to pass on the relevant department of the State to inform the public archive.

(4 ) In cases not provided for in paragraph 3 , the entity is required by § 1 point 2 . a) and c ) before its demise , and the entity in accordance with § 1 paragraph 2, point . b ) , d ) to l ) before the termination of the obligation to keep records to ensure responsibilities associated with the safekeeping of accounting records and the method of securing demonstrably inform the State Archives

 

§ 32

 

(1) shall apply if the entity's accounting records for any purpose other than that specified in § 31 paragraph 1, particularly for purposes of criminal proceedings, measures against money laundering activities, administrative proceedings, civil proceedings, tax management, selection archival appraisal of management or outside, or for the purposes of social security, health insurance or for the purposes of copyright protection after the time proceed custody referred to in § 31 paragraph 2 so as to ensure the requirements of their use for such purposes , if the entity's accounting records used for these purposes, apply all the provisions of this Act relating to the accounting records accordingly.

(2) An entity may use such records in particular, wage sheets, invoices or other documentation arising from special legislation. Such documentation used shall comply with this Act to the accounting records. This documentation in the custody of an entity for the period specified in § 31, paragraph 2, depending on what function it performs in accounting, unless the case under paragraph 1

(3) If the warranty period or complaint procedure is longer than the period referred to in § 31, paragraph 2, the entity shall store documents and other records for the period during which the period runs or take such proceedings, if the record relates to the financial asset or unpaid commitment within nesplněnému pursuant to § 31 paragraph 2 shall keep the accounting entity to record the end of the first accounting period following the accounting period in which an asset or paid to settle the obligation.

(4) Books analytical records of assets and liabilities, financial documents and accounting documents that result from direct contact with foreign countries from the period before 1 January 1949, and accounts relating to the transfer of assets to another legal or natural persons carried out according to special regulations 29) in the custody of an entity, not until the Ministry itself or at the request of the entity's consent to the removal of the following documents.

 

 

PART SEVEN

Common, transitional and final

 

§ 33

Accounting entry

 

(1) The record according to § 4 paragraph 10 must allow for accounting under this Act. For purposes of this Act, the information contained in the accounting record referred to as the content of a book entry, a specific method of recording this information is referred to as a form of book entry.

(2) The record may have a physical, technical or mixed form. For purposes of this Act shall be deemed

a) a physical form of accounting entry performed on an analog carrier handwriting, typing, printing and reprographic printing techniques or computer output device, the content is readable for a natural person,

b) the form of technical accounting entry made by electronic, optical or other means that is not covered under point a), which allows its conversion into a form in which the content is readable for a natural person,

c) mixed form accounting record in paper form also contains technical information in the form of a natural person for illegible, allowing its conversion into a form in which its content for the individual to read.

(3) An entity can make a book entry transfer from one form to another new form. This transfer creates a new accounting record. In that case, the entity shall ensure that the contents of a book entry in a new form is identical with the contents of a book entry in its original form. Compliance with this obligation shall be deemed satisfied if the entity shall submit the record book in the original and the new form and their contents are identical. Compliance with this requirement, however, the entity can demonstrate another way to challenge any of the persons who work with the converted record. In the case of evidence disputing the book entry transfer of any of the people who work with the converted record, for the accounting records that are not marked with signs for shredding or archival selection under a special legal regulation 28) require the submission of a book entry in its original form and records in the original form does not apply the provisions of § 31

(4) The record in the technical or mixed form, shredding the characters "A" or "V" resulting from the activities of the entity must be in a format that will guarantee its permanence and its subsequent clarity to the individual. If this condition is not an entity to ensure transfer of such records in paper form corresponding to the time of their execution and provides the essentials of the original, and in any case before their inclusion in the selection of archival appraisal management or outside; proceeds similarly when dealing with the accounting records accepted accounting in the technical unit, or a mixed form of accounting records, including electronic signature, including the acclaimed documentary confirmation in paper form acknowledged the validity of electronic signatures at the time the accounting record. An entity is required to have accounting records, which demonstrates a form of bookkeeping.

(5) The individual financial record may consist of several sub-accounting records. All provisions of the accounting records under this Act relating to financial record of each individual, including accounting records and accounting document generated by bringing them together.

(6) All forms of financial record, unless this Act expressly provides otherwise, be treated equally; content of all accounting records and their changes have the same consequences if they are made in the accounting records as provided for in subsection 2. b) and c) as in the form pursuant to paragraph 2. a).

(7) An entity may keep accounting records in the form in which their contents are unreadable without, in which case they are obliged to dispose of such equipment, porters and equipment (§ 4, paragraph 10), enabling the transfer of accounting records to form in which their content is readable for a natural person. For the purpose of reviewing the financial statements auditor (§ 20), its publication (§ 21a) and for the purposes of according to § 32 paragraph 1, the entity shall, on request, allow authorized persons familiar with the contents of accounting records for them in that form. These obligations are of an entity as long as they are obliged to maintain or stored in the accounting records. The determination of these obligations on a contract basis 30) is not affected.

(8) In proceedings in matters relating to accounting or accounting based on the evidence can be used for evidential records (§ 33a), which meet the requirements of this Act.

(9) Accounting units are obliged to protect their accounting records and the content of the technical, media and software from its misuse, damage, destruction, unauthorized modification, loss or theft.

 

§ 33a

Weight of book entry

 

(1) Under this Act shall be conclusive as regards accounting entry only

a) the accounting record, the contents of which is shown directly by comparison with the fact that this record shows

b) the accounting record, the content of which is evidenced by the content of other relevant accounting records, or

c) the accounting record relating solely to the fact within one entity, which is connected to the signature of the authorized and responsible person under paragraph 10

(2) If the entity that the content is not really a book entry is required from that moment to consider that the accounting record to be inconclusive, even complies with the provisions of paragraph 1 point. b) and c).

(3) The record designated for transfer shall be signed with a handwritten signature or electronic signature recognized under a special legal regulation 30a) or similar demonstrable financial record in technical form. If an entry is not signed prior to the transfer must be signed no later than the time of its handover to the transmission.

(4) Signature record means a record book, whose content is a handwritten signature or electronic signature recognized under a special legal regulation 30a), or similar probative financial record in technical form, which provides conclusive and unique originality. Both forms of recording, while the signature looks the same and both can be used in cases where the handwritten signature required. In cases involving only facts within one entity can be used as a signature of a handwritten signature or advanced electronic signature, or similar probative financial record in the technical form.

(5) connecting means record signing

a) for an accounting document in paper form has been signed with a handwritten signature

b) For the accounting record in the technical form of its signature recognized electronic signature under a special legal regulation 30a) or similar demonstrable financial record in the form of technical,

c) if in book entry form mixed his signature on signing the paper and also in parts of the accounting record in the technical form of digital data containing the signature of a recognized electronic signature under a special legal regulation 30a) or similar demonstrable financial record in technical form.

(6) Connection of the technical record signing forms, or connect a signature record for mixed forms in sections containing technical form, must meet the requirements for signing a record pursuant to paragraph 4

(7) The record in paper form signed by the signature of the drawer, which coincides with the signature specimen prepared by the entity shall be deemed conclusive pursuant to paragraph 1. c) regardless of whether it relates only to the facts within a single entity.

(8) The identification tag means an accounting entry that is not signing a record under paragraph 4, attached to another financial record

a) automatically technical means (§ 4, paragraph 10) or

b) a natural person held liable pursuant to paragraph 10,

that allows unambiguous identification of the technical means or individuals.

(9) to a single accounting record may be connected to multiple signature records, or identification records.

(10) The entity provides an internal regulation authority, duties and responsibilities of people in this entity related to attaching an identification tag or signature record, in such a way that it can be determined independently of each person responsible for the content of a book entry to which those records attached.

 

§ 34

Book entry transfer of evidence

 

(1) documentary book entry transfer can be effected only through a computer system or other means that meets the weight and permanence, and the requirements of protection and security appropriate to the nature of the information transmitted in accordance with special legislation. 31)

(2), evidence requirements and other requirements specified in paragraph 1 are met even if the book entry transfer of evidence made by a third party different from the entity if the person meets requirements under special legislation. 31)

 

§ 35

Repairs and other provisions on the accounting records

 

(1) Corrections or additions in the accounting records may lead to incomplete, inconclusive, incorrect, incomprehensible or confusing accounting.

(2) If the entity that some of its accounting records are incomplete, inconclusive, incorrect or incomprehensible, it shall be made without undue delay to correct them under paragraph 3 way Accounting entry generated group is also incomprehensible, if any of the sub-accounting records in a technical form does not meet the conditions of § 33 paragraph 7 Accounting entry in the mixed form is also incomprehensible, unless part of a book entry form does not meet the technical conditions of § 33 paragraph 7

(3) Repairs shall be done so in order to determine the person responsible for carrying out any repairs, the moment of its performance and determine how the content of a book entry repaired before repair and after repair its contents.

(4) The moment of the recording in the accounting records with such precision that the uncertainty in determining the time did not result in uncertainty in the determination of accounting transactions.

(5) The accounting records that are illegible in the form of, if not complied with the provisions of § 33, paragraph 7, shall be considered as an entity is obtained.

(6) If the records are lost or stolen, destroyed or damaged to the extent that such damage occurred to change their content entity is obliged to take measures to restore the accounting evidence.

(7) The repair is not complete information in the accounting records, if

a) does not change the original content of a book entry,

b) adding the information content does not cause ambiguity, recording and reporting

c) do not infringe the requirements of evidence, immutability and permanence of the accounting record.

 

§ 36

 

(1) To comply with the accounting methods and entities to ensure a higher degree of comparability of financial statements issued by the Ministry of Czech Accounting Standards (hereinafter "Standards"). The standards provide more particular description of accounting policies and accounting procedures. The selected entity shall comply with the standards at all times. Other entities may deviate from the standards if doing so will ensure a true and fair view of accounting. The deviation from the standards and the reasons are other entities required to state in the financial statements. Using standard accounting units shall be deemed to meet the accounting methods in accordance with this Act and the true and fair view of accounting. The rules for creating and publishing standards, the Ministry may determine an implementing regulation. Issue standards announced by the Ministry in the Financial Gazette. The Ministry shall keep a register of issued standards.

(2) The Ministry may, with a legal entity selected in a public tender contract to create a standard.

(3) Due to the special character of the property, the Ministry may issue for the armed forces, armed security forces and intelligence services to specified standards different from the first paragraph These standards and their edition is published.

 

Administrative offenses

§ 37

 

(1) An entity that is not a business, commits an offense if he

a) does accounting under § 4, paragraph 2 to 6,

b) compile the financial statements in accordance with § 6, paragraph 4, or compile the financial statements as of the date specified in § 19 paragraph 1, or not produced an annual report pursuant to § 21 paragraph 1 to 5,

c) keep accounts in conflict with § 7 paragraph 1 and 2,

d) keep accounts in violation of § 8, paragraph 2,

e) the financial statements it contains all the mandatory elements specified in § 18 paragraph 1 or 2,

f) contrary to § 20 subsection 1 does not have audited financial statements or in conflict with § 21 paragraph 6 does not have audited the annual report,

g) nezveřejní financial statements or annual report pursuant to § 21a, or

h) in contravention of § 31 neuschová records.

(2) An offense may be fined up to

a) 6% of total assets pursuant to § 20 paragraph 1 point. a) point 1, if an offense pursuant to paragraph 1. a) and b)

b) 3% of total assets pursuant to § 20 paragraph 1 point. a) point 1, if an offense pursuant to paragraph 1. c) to h).

 

§ 37a

 

(1 ) The entity specified in § 37 or the person responsible for accounting under this Act commits an administrative offense by

a) does accounting under § 4, paragraph 1,

b) compile the financial statements in accordance with § 6, paragraph 4, or compile the financial statements as of the date specified in § 19 paragraph 1, or not produced an annual report pursuant to § 21 paragraph 1 to 5,

c) keep accounts in conflict with § 7 paragraph 1 and 2,

d) keep accounts in violation of § 8, paragraph 2,

e) the financial statements it contains all the mandatory elements specified in § 18 paragraph 1 or 2,

f) contrary to § 19a paragraph 1 shall not apply to accounting and financial statements of international accounting standards

g) in violation of § 20 paragraph 1 does not have audited financial statements or in conflict with § 21 paragraph 6 does not have audited the annual report,

h) nezveřejní financial statements or annual report pursuant to § 21a,

i) form a sub-accounts for the whole state or consolidated financial statements for the Czech Republic, although it is required to do so pursuant to § 23b

j) in contravention of § 31 neuschová accounting records, or

k) does not provide the conditions for the transfer of accounting records to a central system of accounting information in the manner laid down by the implementing legal regulation issued pursuant to § 4 and § 8, paragraph 23b 5 34) or fails accounting entry into the central system of state accounting information, although this obligation it required by law or other regulation.

(2) consolidating entity commits an administrative offense by

a) compile the consolidated financial statements in accordance with § 6, paragraph 4, or compile the consolidated financial statements as of the date specified in § 23, paragraph 2, or does not draw up a consolidated annual report pursuant to § 22b paragraph 2,

b) had prepared the consolidated financial statements do not contain all required components in accordance with § 18 paragraph 1 or 2,

c) contrary to § 22 paragraph 1 does not present consolidated financial statements audited or in violation of § 22b paragraph 2 does not have a consolidated annual report audited,

d) publish financial statements or annual report pursuant to § 21a, or

e) contrary to § 23a paragraph 1 shall not apply to the consolidated financial statements of international accounting standards.

(3) An administrative offense shall be fined up to

a) 6% of total assets pursuant to § 20 paragraph 1 point. a) point 1, in the case of an administrative offense pursuant to paragraph 1. a), b) and f)

b) 3% of total assets pursuant to § 20 paragraph 1 point. a) point 1, in the case of an administrative offense pursuant to paragraph 1. c) to e) and g) to j)

c) 3% of consolidated total assets under § 22a, paragraph 1, point 1, in the case of administrative offense under paragraph 2,

d) 5 000 CZK, an administrative offense pursuant to paragraph 1. k) and unless stated otherwise.

 

§ 37aa

 

(1) Total value of assets referred to in § 37 paragraph 2 and § 37a paragraph 3 shall be taken from financial statements or the consolidated entity's financial statements prepared for the accounting period in which or for which the breach occurred.

(2) If the total value of assets determined under paragraph 1 of total assets is not found in the proceedings to impose fines, apply for the purposes of § 37 paragraph 2 and § 37a paragraph 3 above, these findings were not put on items of assets pursuant to § 26 paragraph 3 Similarly, if the financial statements or consolidated financial statements have not been for the financial year prepared.

(3) If you can not determine the actual amount of assets in accordance with paragraph 2, the total asset value of the authority which dealt with a breach of legal duties, a reasonable estimate.

(4) In the event that the scope and content of accounting transactions in the accounting period in which or for which the breach occurred, is comparable to the scope and content of accounting transactions immediately preceding reporting period, a reasonable estimate for the purposes of paragraph 3, the mean value of total assets determined from financial statements prepared for the previous financial year.

 

§ 37ab

Common provisions on administrative offenses

 

(1) A legal entity for an administrative delict if it proves that it made every effort that could have been required to prevent violation of legal obligations.

(2) In determining the amount of the fine legal person, the seriousness of the administrative offense, particularly the manner of its commission and its consequences, duration and circumstances under which it was committed. Since the imposition of fines for administrative offenses pursuant to § 37a paragraph 1 point. k) may be waived.

(3) A legal person for an administrative offense if the administrative authority did not commence proceedings within 1 year from the date on which it learned about it, but no later than 3 years from the date on which it was committed.

(4) Administrative offenses under this Act in the first instance by the Tax Office, unless special legislation provides otherwise.

(5) The liability for conduct that occurred in the business of a natural person, or in direct connection with, the provisions on liability and sanctions for legal persons.

 

§ 37b

enabling provisions

 

(1) The Ministry shall issue regulations to implement § 4, paragraph 8, § 23b paragraph 5, § 24, paragraph 5, § 29, paragraph 4 and § 30 paragraph 5

(2) The Ministry may issue a decree to implement § 36 paragraph 1

 

§ 38

 

(1) In fiscal year 1992, an entity shall apply the chart of accounts and accounting procedures, assets and liabilities valued in the accounts and financial statements and establish ways of financial statements arising from existing legislation.

(2) From the effective date of this Act, the federal ministry of finance does not proceed under § 4, paragraph 2, § 14 and § 35 paragraph 3 of Act No. 21/1971 Coll. A uniform system of socio-economic information, as amended by Act No. 128 / 1989 Coll.

 

§ 38a

 

Civic associations , their organizational unit 8 ) , which have legal personality , churches and religious societies 8a ) or religious institutions that are religious legal entity 9) , and hunting communities 10) can keep accounts pursuant to Act No. 563/1991 Coll. on Accounting , as amended by Act No. 117/1994 Coll . , Act No. 227/1997 Coll . , Act No. 492/2000 Coll . , Act No. 353/2001 Coll . and Act No. 437/2003 Coll . , if their total income for the last closed accounting period shall not exceed 3,000,000 CZK , while they are covered by the provisions of Act No. 563/1991 Coll . , accounting , and its implementing regulations , which governing accounting in a single entry , as in force on 31 December 2003.

 

 

§ 39

Repealed

1) Government Czechoslovak Socialist Republic No. 136/1989 Coll. Information system organization,

2) Federal Ministry of Finance Decree No. 155/1971 Coll. Inventories of economic resources

3) Federal Ministry of Finance Decree No. 21/1990 Coll. Calculation,

4) Federal Ministry of Finance Decree No. 23/1990 Coll. Accounting.

 

 

§ 40

This Act comes into force on 1 January 1992.

 

 

Havel v.r.

Dubcek v.r.

Čalfa v.r.

 

 

 

____________________________________________

1) Fourth Council Directive 78/660/EEC of 25 July 1978 based on Article 54, paragraph 3, point. g) of the Treaty on the annual accounts of certain types of companies, 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, European Parliament and Council Directive 2001/65/EC, 2003/51/EC, 2006/46/EC and 2009/49/ES.

Seventh Council Directive 83/349/EEC of 13 June 1983 based on Article 54, paragraph 3, point. g) of the Treaty on consolidated accounts, as amended by Council Directives 89/666/EEC, 90/604/EEC, 90/605/EEC, Directives of the European Parliament and Council Directive 2001/65/EC, 2003/51/EC, 2006/46 / EC and 2009/49/ES.

Regulation of the European Parliament and Council Regulation (EC) No 1606/2002 of 19 July 2002 on the application of international accounting standards, as amended by European Parliament and Council Regulation (EC) No 297/2008.

1a) § 6 paragraph 2 of Act No. 235/2004 Coll. Value added tax.

1c) For example Act No. 111/1998 Coll. On universities and amending other Acts, as amended by Act No. 210/2000 Coll. and Act No. 147/2001 Coll.

1d) Act No. 586/1992 Coll. On Income Tax, as amended.

2) § 61 Commercial Code.

3) Act No. 591/1992 Coll. The Securities Act, as amended.

4) § 8 of Act No. 591/1992 Coll. The Securities Act, as amended by Act No. 15/1998 Coll. Act No. 70/2000 Coll., Act No. 362/2000 Coll., Act No. 501 / 2001 Coll., Act No. 308/2002 Coll., Act No. 476/2002 Coll. and Act No. 88/2003 Coll.

6) Act No. 363/1999 Coll. Insurance and amending some related Acts (the Insurance Act), as amended.

7) For example Act No. 101/2000 Coll. On the protection of personal data and on amendment to some laws, as amended, Act No. 148/1998 Coll. On Protection of Classified Information and Amending Certain Acts, as amended.

8) § 6, paragraph 2, point. e) Act No. 83/1990 Coll. on association of citizens, as amended by Act No. 342/2006 Coll.

8a) § 6, paragraph 1 of Law No. 3/2002 Coll. On freedom of religion and the status of churches and religious societies and amending certain Acts (Act on Churches and religious societies).

9) Act No. 3/2002 Coll. On freedom of religion and the status of churches and religious societies and amending certain Acts (Act on Churches and religious societies), as amended by the Constitutional Court No. 4/2003 Coll. Law No. 562/2004 Coll. and Act No. 495/2005 Coll.

10) § 19 of Act No. 449/2001 Coll. Hunting, as amended by Act No. 59/2003 Coll.

10a) Act No. 72/1994 Coll. Adapting certain co-ownership relationship to buildings and some ownership rights to housing and non-residential premises and supplementing certain Acts (Act on ownership of dwellings), as amended, and Constitutional Court promulgated under No. 280/1996 Coll.

10b) § 221, paragraph 1 of the Commercial Code.

11) For example § 45 of Act No. 218/2000 Coll. On budgetary rules and amending certain related acts (budgetary rules), as amended by Act No. 141/2001 Coll. and Act No. 187/2001 Coll.

11b) For example Act No. 593/1992 Coll. Reserves to determine the income tax base, as amended.

11c) Act No 125/2008 Coll. On the transformation of commercial companies and cooperatives.

11d) Act No. 218/2000 Coll. On budgetary rules and amending certain related acts (budgetary rules), as amended.

Act No. 250/2000 Coll. On budgetary rules of territorial budgets, as amended.

12) Act No. 89/1995 Coll. On State Statistical Service, as amended.

13) § 120, 161d and 161f of the Commercial Code.

13a) For example § 161d paragraph 5 of the Commercial Code.

13b) The Commercial Code.

14) For example § 18 of Act No. 424/1991 Coll. On association in political parties and political movements, as amended by Act No. 117/1994 Coll., Act No. 296/1995 Coll., Act No. 322/1996 Coll . and Act No. 340/2000 Coll.

15) For example § 80a of Act No. 591/1992 Coll. The Securities Act, as amended.

16) For example, § 125 Commercial Code, as amended.

17) § 27 paragraph 2 point. c) of the Commercial Code, as amended.

18) Act No. 148/1998 Coll. On protection of classified information, as amended.

19) § 66a paragraph 7 of the Commercial Code.

20) § 66a of the Commercial Code.

20a) Act No. 21/1992 Coll. Banks.

Law No. 58/1995 Coll. On export finance and insurance with state support and supplementing Act No. 166/1993 Coll. On the Supreme Audit Office.

20b) Act No 591/1992 Coll. The Securities Act.

20c) Act No 248/1992 Coll. On Investment Companies and Investment Funds, as amended.

20d) Act No. 42/1994 Coll. Pension insurance with state contribution, and amendments to some laws relating to its introduction, as amended.

20e) Act No. 87/1995 Coll. Savings and Loan Associations and Certain Related Measures and supplementing Czech National Council Act No. 586/1992 Coll. On Income Tax, as amended.

20f) Act No 363/1999 Coll. Insurance and amending some related Acts (the Insurance Act), as amended.

Law No. 58/1995 Coll. On export finance and insurance with state support and supplementing Act No. 166/1993 Coll. On the Supreme Audit Office, as amended.

20 g) Act No. 280/1992 Coll. Departmental, professional, business and other health insurance, as amended.

20h) Act No. 6/1993 Coll. On the Czech National Bank, as amended.

20j) Act No. 168/1999 Coll. On liability insurance for damage caused by vehicles and amending certain related laws (Act on liability insurance vehicle), as amended.

20k) Act No. 551/1991 Coll. On the General Health Insurance Company of Czech Republic, as amended.

21) § 59 Commercial Code.

22) § 69 of the Commercial Code.

22a) Act No. 48/1997 Coll. On Public Health Insurance, as amended. Act No. 280/1992 Coll. Departmental, professional, business and other health insurance companies.

Act No. 551/1991 Coll. On the General Health Insurance Company of the Czech Republic.

23) For example Act No. 248/1992 Coll. On Investment Companies and Investment Funds, as amended.

24) § 659 Civil Code.

25) § 553 of the Civil Code.

26) For example, § 133, paragraph 1 of the Civil Code, § 443, paragraph 2, § 444 and 445 of the Commercial Code.

27) For example § 31 of Government Regulation No. 108/1994 Coll. Implementing the Labor Code, as amended by Government Regulation No. 461/2000 Coll.

28) Act No. 499/2004 Coll. Archives and Records Service and amending certain laws.

29) For example Act No. 92/1991 Coll. On the transfer of state property to other persons, as amended.

30) For example Act No. 2/1991 Coll. On Collective Bargaining, as amended.

30a) Act No. 227/2000 Coll. On electronic signatures and amending certain other laws (Electronic Signature Act), as amended.

31) For example, § 17 to 20 of the Commercial Code, § 38 and 39 of Law No. 21/1992 Coll. On Banks, as amended, Act No. 29/2000 Coll. On postal services and amending certain Acts (Act on postal services), Act No. 151/2000 Coll. on Telecommunications and on Amendments to Other Acts, Act No. 101/2000 Coll., as amended, Act No. 148/1998 Coll., as amended, and Decree No . 56/1999 Coll. to ensure the security of information systems managing classified information, the implementation of the certification certificate and requisites

33) Act No. 71/1967 Coll. On administrative proceedings (Administrative Procedure), as amended.

34) Decree No. 383/2009 Coll. On technical accounting records in the form of selected entities, and their transfer to the central system of state accounting information and requirements for technical and mixed forms of accounting records (technical regulation on the accounting records).

35) Regulation of the European Parliament and Council Regulation (EC) No 1606/2002. Commission Regulation (EC) No 1126/2008 of 3 November 2008 adopting certain international accounting standards in accordance with the European Parliament and Council Regulation (EC) No 1606/2002.

36) Act No. 427/2011 Coll. On supplementary pension savings.

37) For example, Act No. 320/2001 Coll., On financial control in public administration and amending certain acts (Act on Financial Control), as amended, and Act No. 420/2004 Coll. Examination of territorial self-governing units and voluntary associations of municipalities, as amended.

 


Top