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The Consequences of "Options" in the Directive 2013/34/EU of the European Parliament and of the Council on the Financial Statements

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Listed:
  • Eva Hýblová

    (Masaryk University, Faculty of Economics and Administration, Department of Finance, Lipová 41a, Brno, Czech Republic)

  • Alena Kolčavová

    (Thomas Bata University in Zlín, Faculty of Management and Economics, Department of Statistic and Quantitative Methods, Mostní 5139, Zlín, Czech Republic)

Abstract

Directive 13/34/EC of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings is an instrument of the harmonisation of accounting in member states of the European Union. The Directive contains a number of various ways for recognition and measurement of financial statements, alternative forms of statements or simplifications for small and medium sized enterprises, worded as "permit or require". On the one hand, these differing ways can facilitate application of the Directive in national legislations; on the other hand, they can significantly reduce the comparability of information published in financial statements.The aim of the paper is to verify the relation between the options to be chosen and the variability of the resulting values of the financial statement items. Based on the findings, the results are evaluated in relation to the informative function of financial reporting.

Suggested Citation

  • Eva Hýblová & Alena Kolčavová, 2017. "The Consequences of "Options" in the Directive 2013/34/EU of the European Parliament and of the Council on the Financial Statements," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 65(4), pages 1349-1357.
    • Handle: RePEc:mup:actaun:actaun_2017065041349
    DOI: 10.11118/actaun201765041349
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    References listed on IDEAS

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    1. Mary E. Barth & Wayne R. Landsman & Mark H. Lang, 2008. "International Accounting Standards and Accounting Quality," Journal of Accounting Research, Wiley Blackwell, vol. 46(3), pages 467-498, June.
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