Reporting Frameworks for Financial Instruments in Czech: Czech Accounting Practices versus IFRS

摘要

During last decades financial accounting faces the shift of financial reporting paradigms from historical costs accounting towards fair value concept. The most visible item of this change is reporting for financial instruments, particularly for financial derivatives. The research presents the particular approach of the analyzed area, namely identifying the particularities of reporting for financial instruments in correspondence to IFRS, through both theoretical description and empirical analysis, and continuously linking the findings to the actual knowledge stage and theories developed in the field. The results show a high level of similarity between Czech accounting principles and IFRS for reporting of financial instruments.