Good governance
This section details initiatives to make government a competitive advantage. It includes analysis and reports of government initiatives, as well as data on accountability and performance measures.
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Spotlight issue
Definition of the company’s scope of business
As a result of recent Supreme Court Decision NS 27 Cdo 3549/2020, we recommend that companies recheck the correctness of the scope of their business, which is recorded in the commercial register and stated in the memorandum or articles of association. According to the above case law, business activity defined only as “manufacturing, trade and services not listed in Annexes 1 to 3 of the Trade Licensing Act” is considered as having no legal effect because of the lack of detail, and therefore shall be disregarded.
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Regional Court addressed accounting in practice
The Regional Court in Brno issued ruling ref. no. 30 Af 83/2018 - 227 which addresses practical accounting problems in interest on loans past due dates, bonuses to employees and accrual accounting principal for expenses and income. Our article discusses these three topics in detail.
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