Ways to use the reasonable estimate of the patrimonial elements in preparing financial statements

摘要

The Fourth European Directive referring to Accounting Standards authorizes a number of alternatives for the estimation of the patrimonial elements based on historical cost such as valuation by the replacement value of tangible assets and inventories, valuation methods that consider inflation rate, revaluation of tangible and intangible assets. Conceptual framework of international accounting standards provides a significant freedom in terms of choice of estimation base as long as the chosen provide relevant information and released credibility of financial statements. The paper aims to present several options for estimating the value of the patrimonial elements, especially, tangible assets, to ensure compliance with the national and European legal regulations.