545/2004 Sb.
DECREE
of 18 May. October 2004,
amending Decree No 501/2002 Coll., which implements certain
the provisions of Act No. 563/1991 Coll., on accounting, as amended
regulations for business units, which are banks and other financial
institutions, as amended by Decree No. 473/2003 Coll.
The Ministry of Finance shall determine under section 37b of the Act No. 563/1991 Coll., on the
accounting, as amended, (hereinafter referred to as the "Act") to
the implementation of § 4 para. 8, § 24 para. 4 and 5 and § 28 para. 1:
Article. (I)
Decree No 501/2002 Coll., which implements certain provisions of the Act
No. 563/1991 Coll., on accounting, as amended, for the accounting
units which are banks and other financial institutions, as amended by
Decree No. 469/2003 Coll., is amended as follows:
1. Footnote 3 is added:
"3) Act No. 256/2004 Coll., on the capital market."
2. Footnote 4 is added:
"4) Law No. 189/2004 Coll., on collective investment.".
3. footnote # 7:
"7) section 16 of Act No. 189/2004 Coll.".
4. in § 9 para. 1 the second sentence, the words ' intended for trading,
the sale, so i "shall be replaced by" at fair value through profit
costs or revenues, available for sale, ".
5. § 9 para. 1 the second sentence, the words "debt-backed securities
the assets "are deleted.
6. In section 10, paragraph 1. 1 the first sentence, the words ' intended for trading or
the sale "shall be replaced by the words" at fair value through profit
costs or revenues available for sale ".
7. in section 10, paragraph 1. 1 third sentence, the words "under the heading" 8. The capital "
"shall be replaced by" in the subheading "8b) own shares."
8. In footnote # 9, the words "No 87/1997 ' is replaced by
"No 87/1995 Coll.".
9. in section 18 para. 1 the second sentence, after the words "repo" is added to the comma.
10. In § 24 para. 2, the word "basic" is deleted.
11. In § 25 para. 1, the words "at the time of negotiation of the sale" shall be replaced by
the words "in the sale".
12. In § 25 para. 2, the words "at the time of the negotiation of purchase" shall be deleted.
13. in section 29 para. 1, after the words "in appreciation" the words
"securities available for sale, and".
14. in section 29 para. 1, after the words "exchange-rate differences, in particular" the words
"from available for sale available for sale of shares, investment certificates and".
15. in section 29, paragraph 2 reads as follows:
"(2) the capital investment company for the mutual funds they managed,
investment funds and pension funds in the "13. Valuation differences "
further differences from the non-valuation of tangible fixed
assets at fair value under special legislation. ".
16. At the end of section 33, the following sentence "property and other assets that the accounting
the unit provided as security for its own liabilities or for the third
the parties continue to be reported in the relevant balance sheet items. ".
17. section 34 is repealed.
18. in the second sentence of paragraph 40, the words "securities borrowed" shall be replaced by
"securities loaned, the entity's".
19. in section 44 para. 1 the first sentence, the words "with interest from repo transaction"
replaced by the words "with interest on loans under repurchase transactions".
20. In article 44 paragraph 1. 2 the first sentence, after the words "current accounts," the
the words "under".
21. in section 44 para. 2 the first sentence, after the words "of the loans, including"
the words "under".
22. in paragraph 44, paragraph 4 reads:
"(4) an entity has accrued accessories related to
assets and liabilities in revenue or cost from the time of settlement
trade, usually using the interest rate that you will be discounted
the expected future cash flows until maturity or the nearest data
changes in interest rates (hereinafter referred to as "effective interest rate"). Effective
the interest rate does not have an entity to use for items valued
fair value through profit or loss with residual
maturity of less than one year at the time of purchase,
available for sale securities with a residual maturity of less than
one year at the time of purchase, for securities held-to-
residual maturity of less than one year at the time of
settlement of purchase for securities acquired in primary emissions
not intended for trading with a residual maturity of less than one year in
the time of purchase and for short-term securities.
In these cases, an entity may use the straight line method.
The linear method, an entity may also be used for recognition of interest
the proceeds of the receivables and Payables, interest costs and in the periods between
individual payments, if this period is less than one year,
to report interest income from securities purchased with a premium or
discount and in other justified cases. ".
23. § 47 including title:
"§ 47
The gain or loss from financial operations
(1) the entry "6. The gain or loss from financial operations "includes in particular
profit or loss on transactions in securities with award-winning fair
value through profit or loss, with realisable securities
papers that are presented in the item "2. The State's zero coupon
bonds and other securities accepted by the Central Bank to
refinancing "," 5. Debt securities "and" 6. Shares, units and
other interests ", from short sales of securities, valuation differences.
It also contains the profit or loss on hedging derivatives with
the exception of the interest rate derivatives, profit or loss from debt-claims which
the entity acquired and designated for trading, a gain or loss from
the sale of other shares to sell in other than stock
companies that are not significant or controlling holdings
the influence, along with the goodwill created for these other
shares, profit or loss from securities held to maturity together
with the goodwill created these securities, profit or
the loss of foreign exchange operations, profits and losses from other operations of purchase and
sales related to trading in financial instruments, including
precious metals and gains or losses from non-hedging derivatives.
Valuation differences from the valuation of securities available for sale at fair
value are reported in this item until the loss of these
Securities and also in cases where it is proven that there was an
permanent reduction in value (devaluation) an available for sale securities
the paper.
(2) the capital investment company for the mutual funds they managed,
investment funds and pension funds shown under "6. Profit or
loss from financial operations "non-revaluation
tangible fixed assets are valued at fair value in
the time of his disappearance. ".
24. In paragraph 48, the first sentence, the words "proceeds from the transfer of participation" are replaced by
the words "gains from the transfer of participation".
25. In paragraph 48, the first sentence, the words "proceeds from the transfer of receivables" are replaced by
the words "gains from the transfer of receivables".
26. in paragraph 48 of the second sentence, the words "the cost of the transfer of participation" are replaced by
the words "loss from the transfer of participation".
27. in § 50 para. 4, the word "neoceňovaných" shall be replaced by
"neoceňovaným".
28. in § 50 para. 5, the word "neoceňovaných" shall be replaced by
"neoceňovaným".
29. in paragraph 56 (b). (b)), paragraph 4, after the words "the breakdown of assets" the words
"and obligations".
30. In paragraph 57 (a). and (2) the words of) ", in particular, the use of market creation,
speculation, hedging, "shall be deleted.
31. in paragraph 57 (a). (b)), item 1 the words "on the derivatives negotiated in order to
market-making or hedging, speculation, "shall be replaced by" according to purpose
their use ".
32. In paragraph 57 (a). (b)) (2) the words "on the derivatives negotiated in order to
market-making or hedging, speculation "shall be replaced by" according to purpose
their use ".
33. In § 60 para. 1 (b). e), the words ' intended for trading, sale "
replaced by the words "at fair value through profit or
revenue available for sale ".
34. In § 60 para. 1 (b). e), the words "the second sentence for trading or
the sale "shall be replaced by" award-winning fair value accounts
costs or revenues or securities available for sale ".
35. In § 60 para. 1 (b). f), the words "and for trading and
sale and issued debt securities with a maturity of up to
one year "is replaced by" award-winning fair value
through profit or loss and available for sale ".
36. In § 60 para. 1 (b). about), after the words "hedging derivatives,"
the words "securities available for sale".
37. In § 60 para. 1 (b). about) the words "assets and liabilities" are replaced by
the words "non-operating tangible fixed assets".
38. the footnote # 12:
"12) section 129 of the Act No. 256/2004 Coll.".
39. the footnote # 13:
"13) Law No. 189/2004 Coll.".
40. section 68 including title:
"§ 68
Valuation differences in the application of the fair value of the securities
(Section 27 (6) of the Act)
(1) the valuation differences from the valuation of securities valued at fair
value through profit or loss is recognised in the
item in the profit and loss account.
(2) valuation differences securities available for sale are recognised in
the appropriate entry in liabilities. At the time of implementation, in particular in sales,
the aggregate value of valuation differences reports under the relevant heading of the statement
profit and loss account. If it is established that there has been a permanent reduction in value
(depreciation) an available for sale securities, it must be this loss
without undue delay, the account in the respective item in the profit and
losses. ".
41. section 68a including title:
"§ 68a
Valuation differences in the application of the fair value of the non-
tangible fixed assets
(1) the capital investment company for the mutual funds they managed,
investment funds and pension funds valued non-operating tangible fixed
assets at fair value under special legislation. Changes
the award of this asset will be shown in the appropriate entry in liabilities. When the loss of
This asset, the resulting change of reports under the relevant heading of the statement
profit and loss account.
(2) in the case that will permanently reduce the value of the non-
tangible fixed assets, this reduction in value
the appropriate item in the profit and loss account. ".
42. In paragraph 70, at the end of paragraph 3 the following sentence "If as a result of
secured the expected transaction occurs subsequently to report non-financial
assets, non-financial obligation or hard commitment that is
ensure the fair value, may be related to gains or losses
shown together with the non-financial asset or liability. ".
43. In article 70, paragraph 5 shall be deleted.
Paragraphs 6 to 8 shall be renumbered as paragraphs 5 to 7.
44. in the § 70 para. 5 (c)):
"(c) ensure the effective); ensure it is effective, if at the beginning
and in the course of the hedging relationship, the changes in the fair value, or
cash flow hedge instruments corresponding to the provided
risk, or changes in the fair values or cash flows
hedging instruments in the range of 80 percent up to one hundred twenty
five percent of the changes in the fair value or cash flows of hedged
items matching provided at risk. An entity determines
whether the hedge is effective at the beginning of the collateral and at least to the
build time ordinary, extraordinary and interim financial statements and the
build time statements under special legislation. ".
45. In section 70 para. 6, the last sentence shall be deleted.
46. In § 79 paragraph 2. 5, the words "intended for trade or sale"
shall be replaced by "award-winning fair value through profit or
revenues and viable ".
47. In article 79, paragraph 7 shall be deleted.
48. In part five, title IV shall be deleted.
49. in annex No. 4 chart of class 3 chart of the group, 36, the words "Valuable
papers for sale "shall be replaced by the words" securities ".
50. in annex No. 4 chart of class 3 chart of the group, 38, the words "to
trading "shall be replaced by the words" at fair value through profit
costs or revenues. "
Article II
Transitional provisions
1. From 1 January 2005. in January 2005, the current securities available for sale are considered
Securities and securities held for trading
considered to be securities measured at fair value through profit
or revenue. The entity is entitled to 1. January 2005 do
the movement of a group of securities available for sale securities to a group
securities valued at fair value through profit or loss.
An entity is authorized to classify to the 1. January 2005 to these groups
Securities and debt securities acquired in primary emissions
not intended for trading, traded on a regulated market.
2. Investment Fund, pension fund or mutual fund management
investment company reports under the heading "14. Retained earnings or
accumulated losses from previous years "in the first day of the accounting period
started 1. January 2005 and later changes in the fair value of the securities,
changes in fair value of derivatives, changes in the fair value of the hedged items
assets and liabilities and foreign exchange differences which have been reported by
balance sheet items and will be under section 68 and 70 of the Decree No 501/2002 Coll.,
implementing certain provisions of Act No. 563/1991 Coll., on the
accounting, as amended, for the accounting unit that
are banks and other financial institutions, as amended by Decree No.
473/2003 Coll., in the version in force from the date of entry into force of this order
reported through the items of the profit and loss account.
Article. (III)
The effectiveness of the
This Decree shall enter into force on 1 January 2000. January 1, 2005.
Minister:
Mgr. Sobotka in r.
