This paper will examine the history of international accounting that eventually led to the adoption of IFRS in the European Union. It will have an in depth analysis of IFRS and what it may mean for the United States should there be an adoption or a convergence. It will also comment on what needs to be considered in the convergence or adoption process.

In the last 20 years, IASB IFRS has been promoted as the IFRS has been adopted by many major economies as for financial reporting and is poised to become even more widely accepted and used in the near future, with the main objective of unifying world financial reporting by making statements more comparable. The second key player in the field of financial reporting is US GAAP, used by American publicly traded companies, accounting roughly for approximately one-third of the world's capitalization. Although many countries, in concluding members of the EU, have accepted IFRS without significant changes to their existing financial reporting standards or their infrastructure, SEC in the USA has lead a long process of convergence with IFRS from the technical side and also the regulators and general environment has been preparing for the change, with the aim of ensuring smooth and successful transition, resulting in a higher quality of IFRS adoption. The main problem, which leads to the research presented in this dissertation is whether to approach international accounting harmonization from the top-down or bottom-up. The main objective of the dissertation is was to contribute to the analysis of the significance of the impact of non-accounting (environmental) factors on financial reporting quality, specifically the adoption of IFRS. The dissertation accomplishes the main goal by utilizing the survey method of analysis to accumulate research to date, analyze available evaluation methods and to describe the control environment, USA. The second stage of the analysis involves constructing a comprehensive evaluation model, which enables a comprehensive analysis of the relationship between environment and financial reporting. The model developed in the dissertation is intended for use by researchers for a comprehensive, inter-disciplinary, empirical study of the environmental effects on financial reporting.

This master's thesis describes revenue recognition principles and their guidelines for the most important globally used financial reporting standards and introduces the proposed revenue recognition convergence project, whose future plan is to converge major accounting codifications into one internationally accepted and applied standard. The theoretical part comprises of a description the history and principles of IAS/IFRS and US GAAP and their current guidelines to revenue recognition. The practical part of the thesis consists of an interpretation of the proposed exposure draft, comparison with current standards and model example of construction contract revenue accounting.

This diploma thesis deals with impacts of implementation of the new standard IFRS 15 which is result of part of the project convergence between IFRS and US GAAP. The theoretical part describes current standards which deal with revenues recognition under IFRS and US GAAP and compares them. The practical part describes the new standard IFRS 15. In the practical part there is an identification of changes in comparison with current standards and presented impact which will affect specific sectors.

Diplomová práce je zaměřena na teoretické vymezení zásob, jejich oceňování a na praktickou část, která popisuje problematiku na konkrétním podniku, který se zabývá z převážné většiny výrobou nástrojů a výrobků pro automobilový průmysl. Cílem diplomové práce bylo poznat realitu na konkrétním podniku a popsat obecně problematiku evidence a účetní ocenění zásob.

The aim of this work is to introduce reader to the concept of goodwill. First focuses on understanding the meaning and content of the concept and then describes the development of reporting goodwill as an accounting item. The work also includes an outline of future development of goodwill in IFRS and U.S. GAAP. Some chapters are supplemented with examples that explain the theoretical knowledge and help reader better understand the issue.

The recent adoption of International Financial Reporting Standards (IFRS) by major bodies, such as the European Union, has encouraged a global effort to attain universal financial comparability and consistency. The U.S. has recently proposed a roadmap to adopt IFRS as the basis of financial reporting for publicly traded companies. The roadmap outlines issues that must be considered to successfully transition from United States Generally Accepted Accounting Principles (US GAAP) to IFRS. The purpose of this thesis is to dissect the broad implications of transitioning financial reporting from US GAAP to IFRS and to examine the primary issues that must be addressed. A discussion of the four key goals used to enhance financial standards, comparability and consistency, transparency, independence, and perception, provides a basis for examining the fundamental questions that provide the impetus for this transition. The implementation process and issues will also be examined. Issues and concerns that directly relate to the discussion of IFRS implementation in the United States (US) include political relations, education, audit methodology, technology, taxation effects, and overall costs for companies. Public perception of changes in the above issues may affect financial markets and economies worldwide. The thesis is intended to provide an in depth discussion for those who wish to further educate themselves on the potential IFRS implementation in the US. The results should allow readers to understand the vast effects of the US implementing IFRS, encouraging further consideration of critical issues that need to be resolved before the transition takes effect.

The final thesis deals with lease and it's accounting and reporting treatment according to the International Financial Accounting Standards compared to the adjustment applicable in Czech republic. The first part is devoted to the basic characteristic of lease, it's division and historical development, especially in Czech republic. Second part aims the accounting treatment of lease under the czech accounting laws and also prescribes the tax consequences of lease. Third part of the thesis deals with the IFRS adjustment of lease, concretely with IAS 17 Leases. It targets the classification of leases, the accounting and reporting treatment for the lessor and the lessee as well and also the convergence project of IFRS and US GAAP related to leases. The work is completed with the practical application of the introduced observation on a real lease contract under the czech regulation and under IFRS.

Final thesis "Issue of inventories in a company with business activities" contains in a summary bookkeeping of inventories and other problems connected with inventories - evaluation of inventories in various parts of business cycle, problems with stocktaking, ordering of inventories. Ivnentories and their evaluation is defined under both czech law and international standards. In the last part there is an example of concrete czech company which is a member of international corporation.

Diplomová práce ?Zásoby v obchodní společnosti? se zaměřuje na popis problematiky zásob v obchodní společnosti. Cílem práce je zanalyzovat současnou právní úpravu v oblasti účetnictví zásob v České republice, identifikovat potenciální problémy, obtíže či nesrovnalosti a zároveň tuto oblast porovnat s IFRS a US GAAP. Cílem práce není vyčerpávajícím způsobem popsat veškeré problémy, které se zásobami v obchodní společnosti přicházejí v úvahu. Zejména daňové aspekty jsou vysvětleny jen v základní rovině. Praktická část práce osvětluje problematiku účtování zásob na konkrétní obchodní společnosti, která je součástí mezinárodní korporace. V praktické části je také srovnáno účetnictví zásob podle českých účetních předpisů s účetnictvím podle US GAAP a navrženo řešení zjištěných nedostatků.