The annual listing of assets and liabilities (stocktaking) is one of the important conditions for the basic financial reports to be actual and objective, so that the beneficiaries could make proper business decisions based on such reports. Accordingly, the Accounting Act and the General Taxation Act determine the obligation of making the annual listing. The CFRS and the IFRS also require for the financial reports to present the financial situation and performance of the company in a fair and truthful way, which is only possible if the actual state complies with the accounting records. The article stresses the issues which should be taken into account upon the annual listing and the specifics which arise upon listing of assets and liabilities, including the taxation and accounting viewpoints of such a listing.
Autor: Mr. sc. Katarina HORVAT JURJEC, dipl. oec. i ovl. rač.
Companies are obliged to make the annual listing of assets and liabilities in order to prepare their financial reports objectively. During the listing it is possible to observe the differences (surpluses and deficits) of assets and liabilities. The causes of deficits may be objective due to force majeure (flood, fire, earthquake) and are thus regarded as acceptable in terms of taxation. The deficits which represent the result of responsibility of certain employees according to the decision made by the authorized body subject to VAT taxation.The deficits for which it is not possible to determine the responsibility of an individual person are recorded on the account of the legal person and are together with the VAT included in the base for profit tax. The article analyses the taxation and accounting viewpoints of deficits and expenditures of goods due to the expiration date, inadequate quality, etc.
Autor: Dr. sc. Šime GUZIĆ , viši pred. i ovl. rač.
In business practice there are common situations when during the work the employee causes some damages or deficits to the employer. The question which instantly arises in such a situation is how to compensate for this from the employee. Accordingly, the author of the article provides two possible solutions of collection of receivables from the employee due to the caused deficit. The first one comprises giving a written consent of the employee to the retention of the salary or a part of the salary, or the retention of the payment of the salary compensation or a part of the salary compensation. The second one refers to the claim made at the court by the employer for the compensation of damages.
This article stresses, in terms of taxation and accounting, the specifics of the allowed and excessive losses – deficits of goods and stocks, which are determined in the annual listing of physical persons. Independent crafts businesses, equally as companies, should at the end of the business year make the annual listing – stocktaking. The presented differences, regardless of the fact whether they refer to stocks of goods or fixed assets, may considerably affect the income of physical persons. Therefore, this group of tax payers should before preparation of the annual report, make the annual listing in the DOH Form and comply the data presented in business records with the actual state.