Log-book 17-11-2019: The 1st Lesson: Hard on the Training Ground, Light in the Storm
I spent the previous month on a long-dreamed cruise on the Atlantic Ocean. It was an experience filled with strong emotions, physical exertion, new discoveries, continuous learning, euphoric moments and discomfort. All of this alternated from extreme to extreme like a well-balanced medicine for body and soul, restart (rather than relax). In order not to benefit from this medicine alone, I noted my daily observations in the logbook, observing the parallels between the management of the company and the sailing yacht in order to share them with you in a useful and applicable form.
Financial closure is more than just a legal obligation
We are approaching the end of the year, and many tasks, including accounting, have been fulfilled. For some, the financial statements are only a legal obligation, for others the possibility to present their financial results to management. But not everyone can compile them correctly. What is their meaning and what to watch out for?
What changes did the year 2019 bring into accounting?
The end of the calendar year 2019 is approaching uncompromisingly, and it is the time to summarize the most important matters which the year 2019 brought in the area of accounting.
eNeschopenka: Summary of major changes and benefits
eNeschopenka will simplify the administrative burden by reducing the number of parts from 5 to 3. Furthermore, the flow of information will be substantially simplified as it will bring together three entities, a doctor, an employer and the ČSSZ. For the attending physician, this will bring the possibility to retrieve and use data from the register of insured and employers kept by the ČSSZ. The doctor will not enter the data, but only after entering the birth identification number (EČP) and loading the data into the form confirms the data and sends the form electronically to the OSSZ.
Harmonization of regulation of chain transactions – strengthening of legal certainty or needless rigidity?
Already in September issue of our Crowe News, we have informed you that the significant system changes in the area of VAT are waiting for us since the beginning of the year 2020. So called “quick fixes” are reflection of legislative changes at the level of the EU and their primary goal is elimination of differences in legal regulations of particular EU Member States and thus, strengthening of legal certainty, especially in the sphere of international transactions.
Interpretation of the National Accounting Board on R&D reporting
Proposal for Interpretation NI-58 Reporting of intangible results of research and development prepared by the NAB passed the first external comment procedure, during which the NAB received a number of suggestions and comments on the basis of which the text of the draft interpretation was revised. This revised draft interpretation is now in the second external comment procedure which ends on 30 November 2019.