European Financial and Accounting Journal 2010, 5(2):25-52 | DOI: 10.18267/j.efaj.48

The Role of Accounting Information in Financial Performance Measurements from External User's Viewpoint

Zbyněk Halíř
Ing. Zbyněk Halíř - Ph.D. student; Management Accounting Department, Faculty of Finance and Accounting, University of Economics, Prague, W. Churchill Sq. 4, 130 67 Prague, Czech Republic; <zbynek.halir@vse.cz>.

The paper concerns measuring and reporting of financial performance of an enterprise from external user's point of view. Basic approach of the paper is the analysis of the Income Statement as amended by US GAAP. If it is appropriate wording of US GAAP is enriched by requirement of IAS/IFRS. The paper comes from following premise: Advanced accounting systems of the world could be rich sources of inspiration that would help to improve the Czech accounting legislation, the Czech accounting standards and their interpretations. Where it is appropriate the paper also brings inspiration for solving partial inconsistencies between IAS / IFRS and US GAAP. It gives some recommendations for continuing the harmonization process of both accounting systems in the field of measuring and reporting of financial performance.

Keywords: Czech Accounting Legislation, Financial Performance, IFRS, Income Statement, US GAAP
JEL classification: M41

Published: June 1, 2010  Show citation

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Halíř, Z. (2010). The Role of Accounting Information in Financial Performance Measurements from External User's Viewpoint. European Financial and Accounting Journal, 5(2), 25-52. doi: 10.18267/j.efaj.48
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