Český finanční a účetní časopis 2010(1):7-19 | DOI: 10.18267/j.cfuc.55

Revision of Accounting Directives

Marcela Žárová
Doc. Ing. Marcela Žárová, CSc. - docentka; Katedra finančního účetnictví a auditingu, Fakulta financí a účetnictví, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3, Česká republika; <zarova@vse.cz>.

Current revision of the Fourth and Seventh Company Law Directives is provided in the scope of simplification of accounting rules for SMEs and other companies. The review of the Accounting Directives has the overall objective to modernize and simplify the reporting requirements as well as to make them more understandable and accessible. The review should be guided with the "think first" principle in mind. The Commission's regulation strategy is aimed at measuring administrative costs and reducing administrative burdens. Commission presented in 2009 a proposal for a Directive containing a number of targeted simplification measures in financial accounting and reporting. The European Parliament encouraged the Commission to continue its activities with regards to simplification of company law, accounting and auditing for SMEs via the relevant legislative acts, in particular the Fourth and Seventh Company Law Directives.

Keywords: Revision; SME; Fourth Company Law Directive; Seventh Company Law Directive.
JEL classification: M41

Published: March 1, 2010  Show citation

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Žárová, M. (2010). Revision of Accounting Directives. Czech Financial and Accounting Journal, 2010(1), 7-19. doi: 10.18267/j.cfuc.55
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