ABSTRACT
The paper is devoted to the comparison of accounting statements according to International accounting standards and Czech accounting standards and impact assessment of identified differences on the decisions of investors and owners of corporations. The first objective is to identify accounting methods and practices that lead to differences in reporting of financial position and performance of corporations, analyze their causes and examine their impact on the statements. The second objective is to assess the impact of these differences using methods of financial analysis on data specific company. For this purpose, is created parallel system of ratio indicators. The case study has proven that despite the ongoing harmonization efforts, there are still significant differences in both approaches and should be taken into account when making decisions. Similar results were also found when compared with the financial statements according to Indian accounting standards.
