Accounting

Advances on profit shares and other alternatives of dividend distribution

11.8.2014

With the Companies Act taking effect on 1 January 2014, new rules and alternatives apply to dividend distribution.

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Correction of prior period accounting errors in financial statements

17.6.2014

Financial statements must be prepared in compliance with the Accounting Act and must contain statutory elements, such as data for the current and prior accounting periods. If a prior period accounting error is identified, the matter is resolved in compliance with accounting regulations and methodological guidelines.

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Time for account settlement

27.5.2014

If you are a tenant, you now probably expect the delivery of, or have already received, a summary account for lease-related services (utilities). Are you pleased with your large overpayment? Or are you shocked by the amount of your underpayment?

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Employee business travel from 1 January 2014

3.2.2014

Since 1 January 2014, slight changes apply to the calculation of the costs of business travel, i.e. in payments for the use of passenger cars for business purposes and subsistence expenses for business trips in the Czech Republic or abroad. The same as a year ago, the rates have been slightly increased once again.

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Changes in the summary account for utilities in residential buildings

15.1.2014

The act regulating certain issues related to utilities for residential units and non-residential premises in residential buildings (Act No. 67/2013 Sb.) took effect on 1 January 2014. What changes have actually been made since 2013 when the Act was enacted?

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New Civil Code’s challenging implications for accounting

25.10.2013

25.10.2013 The New Civil Code (NCC) will necessitate amendments to the accounting legislation – both to the Accounting Act and to the related implementing regulations and Czech Accounting Standards. What effect will these changes have on you?

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