Vol. 7 No. 1 (2014)
Articles

The Introduction of IFRS at the Level of Individual Reports

Published August 6, 2020
pdf (hun) (Magyar)

APA

Lukács, J., & Zéman, Z. (2020). The Introduction of IFRS at the Level of Individual Reports. Economica, 7(1), 140–143. https://doi.org/10.47282/ECONOMICA/2014/7/1/4319

In recent years, there is a need for public limited companies registered in stock exchange not to do bookkeeping according to the Hungarian Accouni ng Act and prepare their annual reports in accordance with it. Instead of it, prepare consolidated annual fi nancial statements under IFRS. This could lead to a signifi cant reduci on of administrai ve burden, as management makes every business decision based on IFRS instead of the Hungarian Accouni ng Act; especially in cases
where the determinai on of the corporate income tax is based on fi nancial statements prepared in accordance with internai onal standards.