Acta Univ. Agric. Silvic. Mendelianae Brun. 2017, 65, 1349-1357
Published online 2017-09-01

The Consequences of “Options” in the Directive 2013/34/Eu of the European Parliament and of the Council on the Financial Statements

Eva Hýblová1, Alena Kolčavová2

1Masaryk University, Faculty of Economics and Administration, Department of Finance, Lipová 41a, Brno, Czech Republic
2Thomas Bata University in Zlín, Faculty of Management and Economics, Department of Statistic and Quantitative Methods, Mostní 5139, Zlín, Czech Republic

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.


The paper was prepared in the framework of specific research project, MUNI/A/0916/2015‑Behavioural and knowledge aspects of trading and the valuation of financial assets.


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