APPLICATION OF A SELECTED METHOD OF MULTI-CRITERIA DECISION WHEN PREPARING FINANCIAL STATEMENTS ACCORDING TO IFRS AND CZECH ACCOUNTING STANDARDS

The article deals with selected theoretical and practical aspects of drawing up the financial statements in accordance with national and international accounting standards in conditions of the Czech Republic. Due to increasing globalization, international business development and interconnection of economies, the financial statement drawn up only in accordance with national accounting standards might not be sufficient. Means to ensure a comparability of financial statements in the international context are the International Financial Reporting Standards which today play the role in the harmonization of accounting. In deciding whether such a set of standards is to be applied in enterprises, it is necessary to take into account a number of criteria, while each of the defined criteria has a different degree of significance. In addition to a one-off transition to the international accounting standards, the possibility how to ensure the comparability of financial statements is a gradual implementation of selected provisions of International Financial Reporting Standards into national accounting regulations. Financial statements provide important information, therefore it is appropriate for them to be as meaningful as possible in a global perspective without significant differences according to national adjustments. The results of the analysis performed in industrial enterprises in a selected region of the Czech Republic show that the main obstacle to the application of these standards in accounting of enterprises are the high costs. The article contains the methods of description, comparison, analysis, synthesis, and selected methods of multi-criteria decision making.