Positioning of Czech accountants towards IFRS implementation

Abstract

The paper aims to ascertain the level of harmonization of accounting in small and medium enterprises in the Czech Republic and the impacts arising from the harmonization process. On the basis of the conducted survey, companies show a reserved interest in reporting according to IFRS. As a decisive reason for adopting IFRSs as a reporting framework for a company the adoption shall brought out some gains. Only minority of companies considers the greatest advantage for using IFRS in the comparability of financial statements, strengthening the credibility of financial statements and strengthening the prestige of the business.