Abstract:

The main objective of the paper is to identify, analyze and evaluate current state of use of this system by the Czech non-listed companies with regard to future possibilities of extension of IAS/IFRS implementation to all accounting units operating in the Czech Republic.  On the basis of the identified information were determined main advantages, disadvantages and barriers of the IAS/IFRS application and current state of the overall awareness of non-listed companies about IAS/IFRS in the Czech Republic. With regard to obtained information, the authors pointed out the most frequently met problems related to further expansion of the IAS/IFRS system also among other Czech accounting units. Comparison of similarly focused researches conducted by researchers in different countries were made where it was possible, to find out if the trends visible in the Czech Republic vary significantly from those recorded in foreign countries or not.