Changes to the Czech Accounting Standards
In Financial Bulletin No. 9/2011, the Ministry of Finance published changes to the Czech Accounting Standards (“Standards”), including changes applicable to businesses and selected accounting units[1].
Czech Accounting Standards for Businesses
As of 1 January 2012, three Standards applicable to deferred tax, transactions with a business, and capital accounts and long-term liabilities were amended. The changes concern company transformations.
As of 1 January 2013, the Standards regulating the opening and closing of accounting books, deferred tax, capital accounts and long-term liabilities, and costs and revenues were amended. The amendments were made in connection with the changes in Decree No. 500/2002, Coll., applicable to businesses, in respect of profits/losses from previous years.
Czech Accounting Standards for Selected Accounting Units
As of 20 December 2011, the Standards regulating accounts and principles of accounting in respect of accounts, transfers, adjustments, disposals of receivables, and inventories were amended. The amendment principally concerns accounting procedures.
[1] Accounting units keeping accounting books pursuant to Decree No. 410/2009, Coll., as amended (territorial self-governing units, partially budget-funded organizations, etc.)
Other articles
KŠB Announces Senior Appointments: Ivo Průša Named Partner; Dana Jacková, Jana Guričová and Ján Béreš Promoted to Counsel
Kocián Šolc Balaštík (KŠB) has recently made several senior appointments within its leadership team. Ivo Průša has been named Partner as of 1 January 2026, while Dana Jacková, Jana Guričová and Ján Béreš have been promoted to the position of Counsel.
KŠB Assisted with the Refinancing of the BigBoard Group, a leading player in the premium outdoor advertising market
Our team provided legal advice to BigBoard Praha, a leading player in the premium outdoor advertising market in the Czech Republic, in connection with its refinancing. Founded in 1993, the BigBoard Group is the largest provider of premium outdoor advertising in the Czech Republic, with an approximately 70% market share and annual turnover of around CZK 2 billion. Its advertising media cover key locations across the country, including the Prague metro and major transport hubs.
KŠB Assisted Sandberg Capital with a Majority Investment in HotelTime Solutions
The KŠB team provided legal advice to the investment group Sandberg Capital on the completion of a majority investment in HotelTime Solutions, one of the leading providers of cloud-based software for hotel operations management.
