Funkční měna z hlediska účetní legislativy (se zaměřením na Českou republiku a Finsko)

This thesis addresses the topic of the functional currency and its current treatment in the Czech accounting environment, while also examining how this concept is defined in the draft of the new Accounting Act, which is expected to take effect on January 1, 2028. The thesis also analyzes the concept of functional currency in IFRS standards and, for comparison with national regulations, highlights the approach of Finnish accounting legislation to functional currency. Furthermore it examines the levels of harmonization of the Czech and Finnish national regulations on functional currency with IAS 21. The analysis indicates that the draft of the new Accounting Act exhibits signs of greater harmonization of functional currency regulations with IAS 21 compared to current Czech accounting regulations. The analysis indicates a low level of harmonization of the functional currency provisions of Finnish accounting legislation with IAS 21. The following section of the thesis presents an example of a model company, illustrating the procedure for transitioning to the functional currency under current Czech accounting regulations. The example shows that if functional currency is not adopted by a company that operates primarily in the euro economic environment, exchange rate differences arising from the translation of major economic transactions are not eliminated, leading to a distortion of the true and fair view of the company’s economic reality and a reduction in the informative value of the financial statements.