A Few Fields of the Harmonization of Accounting Statements on the Basis of IFRS

The objective of the study is to introduce the major accounting systems (US GAAP, EU directives, IFRS) in a conception way with a special regard on compiling financial statements on the basis of IFRS. The accounts should include not only validity but the preciseness expected by both the owners and the creditors focusing on consistency, the usefulness, transparency and unambiguousness of the contained pieces of information. All these are especially important when a given enterprise or an enterprise-group represents itself in several countries or continents. The actuality of the topic is strengthened by the fact that more and more entities being interested even in abroad require to use a system based on internationally accepted standards as a basis when compiling annual accounts and consolidation for the sake of comparability. The study introduces the features of fixed asset valuation, the effect of valuation on income and property through a concrete case study regarding the realization of accounting principles.