The reporting of goodwill in national and international context: Evidence from the Czech Republic

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SEDLÁČEK Jaroslav LEMESHKO Oleksandra

Rok publikování 2016
Druh Článek v odborném periodiku
Fakulta / Pracoviště MU

Ekonomicko-správní fakulta

Obor Řízení, správa a administrativa
Klíčová slova IFRS; US GAAP; goodwill accounting; recognition and measurement; goodwill impairment;
Popis Goodwill as an important part of intangible assets has been more and more interesting not only for researchers but mainly for managers of corporation and its owners. This article deals with differences in accounting treatment and reporting in financial statement pursuant for the International Financial Reporting Standards in comparison to the United States Generally Accepted Accounting Principles and Czech accounting legislation. Our research had shown that there are intangible assets which do not meet the recognition criteria stipulated in Financial Accounting Standard 142 and International Financial Reporting Standard 3(R). However, if there are such assets in the corporation, then should be allocated into goodwill. The greatest differences were identified in comparison supranational legislation reporting of goodwill with the Czech accounting standards. This leads to a different presentation of the financial position and performance of the corporation that affect management decisions and investors.
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