Problematika obsahu nad formou na příkladu leasingu

This bachelor’s thesis focuses on the substance over form principle and how it is embedded differently in Czech accounting law and international financial reporting standards (IFRS). This thesis aims to explain the substance over form principle and show why without it, financial reports cannot provide a true and fair view of the financial position and performance of a reporting entity. This thesis covers some examples where Czech accounting law is not in accordance with the substance over form principle whereas International accounting standards are. The example of a transaction where Czech accounting law does not give priority to the economic substance over its legal form on which this thesis primarily focuses is related to finance leases. The thesis first explains how finance leases are defined by IFRS and Czech accounting law. After this, an example is given which illustrates how finance leases are accounted for differently under Czech accounting law and IFRS and how this difference affects the financial reports of an entity. Consequently, the financial indicators calculated from information in financial reports are affected as well.