Czech accounting framework vs. International financial reporting standards : Interhotel Olympik

The diploma thesis deals with comparison of the Czech accounting framework and the International Financial Reporting Standards on the general level, as well as in relation to particular impacts of the existing differences. Its goal is in the first place to point out the impact of the disparities in accounting procedures and in the general accounting conception and to describe its consequences in the present and near future. The thesis consists of four main parts. The leading chapter concerns modern accounting theory, pursuing regulation of the accountancy and the facts, which cause the difference of accounting systems in the world. The second part describes and analyses accounting rules in the international "scene". It holds forth on harmonization of the accountancy on the global and so on the European level. From the global point of view it includes the International Financial Reporting Standards, in the end then marginally devoting itself to the American Generally Accepted Accounting Principles. In relation to the European framework it discusses the fourth, seventh and (originally) eighth directive of the European Community Council, as well as the present European accounting law regarding the International Financial Reporting Standards. The following chapter analyses the Czech accounting framework and..