LVC, s.r.o. and IFRS

In the LVC company, we have been working with the IFRSs for more than ten years:

• we monitor the development of the standards and actively take part in their implementation in the Czech environment;
• we assist companies in preparing financial statements;
• we cooperate with auditors in verifying financial statements;
• we train users of the standards.

We offer a combination of practical experience gained from implementing the IFRSs in business reporting with the theoretical concept of IFRSs and their development.

IFRS

IFRS or International Financial Reporting Standards represent international accounting rules. In 2011 these standards applied compulsorily or voluntarily to traded companies in over 123 countries and to non-traded companies in more than 96 countries, including the Czech Republic and the European Union. IFRSs are accounting rules under which financial information is presented by more than one third of the companies included in Fortune Global 500; accounting rules that determine primary accounting systems for many Czech accounting entities; accounting rules which are more and more utilized with the expectation of growth; accounting rules with their own future.

Why LVC

• Experience – we have been operating in the field for six years
• Information – we actively monitor the development of the IFRSs, and we take part in their implementation in the Czech Republic
• Flexibility – we cooperate with traded and non-traded companies, individual businesses and also consolidated groups
• References – we work for both domestic and foreign companies and consolidated groups

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