Comparison of IFRS and Slovak Accounting Regulations
Publication date: August 2008
The purpose of this publication is to assist you in understanding the significant
differences between International Financial Reporting Standards (IFRSs) and Slovak accounting regulations (SAR). This publication does not discuss every possible difference; rather, it is a summary of those differences that we have encountered most frequently in practice. The focus of this publication is on recognition and measurement, rather than on disclosures. However, disclosure-based areas are included.
Throughout this publication there is a summary of the requirements of IFRSs included in the left-hand column. In the right-hand column SAR is compared to IFRSs, highlighting similarities and differences.
This publication does not include the specific views that KPMG has developed in the absence of specific guidance under IFRSs or SAR, since others may have applied their judgement in developing different guidance. In some cases we note what we would expect in practice, but in other cases we note simply that practicevaries or may vary.
The requirements of IFRSs are discussed on the basis that the entity has adopted
IFRSs already. The special transitional requirements that apply in the period in which an entity changes its accounting policy to IFRSs are not discussed. In such cases the entity should refer to IFRS 1 First-time Adoption of International Financial Reporting Standards.
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