Non-financial Information according to the Act on Accounting in the Czech Republic
Non-financial Information according to the Act on Accounting in the Czech Republic

Author(s): Veronika Popelková
Subject(s): Business Economy / Management, Accounting - Business Administration
Published by: Masarykova univerzita nakladatelství
Keywords: accounting; non-financial reporting; Key Performance Indicator (KPI); corporate performance management;
Summary/Abstract: The Directive of the European Parliament and the Council of the EU on the reporting of non-financial information of some large enterprises and groups was implemented in the Czech accounting legislation. This Directive aims to achieve greater transparency and comparability of social and environmental information between undertakings from different sectors and the different Member States. For the first time in the year 2017, entities and groups will be required to report non-financial information by the wording of the Accounting Act. This contribution arises in response to current issues and, through a survey of publicly available information in ten public interest entities, presents the likely future development of a non-financial disclosure solution under the Accounting Act and the European Directive for the financial year 2017. This disclosure of non-financial information will bring significant administrative burdens, but it can also help reduce costs and increase efficiency. The paper also deals with the importance of this information for management and measuring of the corporate performance.

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