IFRS Adoption for Accounting and Tax Purposes: An Issue Based on the Czech Republic as Compared with Other European Countries

This work is focused on IFRS adoption for accounting and tax purposes mainly in the Czech Republic however it shows this issue across the European countries. There are differences in the scope of acceptance of these standards across European countries. While the Czech Republic adopted IFRS not only for consolidated financial statements but also for individual financial statements, many countries accepted IFRS only for consolidated financial reporting maybe because of no effect on taxation. The work is also interested on discussion about the optimal relationship between accounting and taxation.