Modern principles of financial management
Seminar
Within the project “Professional assistance for Slovak regional waterworks companies“ we organized on September 26, 2007 seminar called “ Modern principles of financial management“. It took place in hotel Sitno in Vyhne. Seminar was realised within the task 2.1 Accounting and financial management suitable for waterworks comapnies.
Apart from presentation of results of current accounting methods used by waterworks companies and their impact for financial management which were main topic for project experts, the main attention was devoted to the theoretical and practical aspects of transition to the International standards of financial accounts. Practical experience with the implementation of IFRS in the czech waterworks company and practical experience with implementation of IFRS in energy companies in Slovakia was shown to participants of the seminar. These experience were presented by Mr. Peter Michalik and Mr. Ján Bobocký who participated on the projects as advisor and auditor. Their opinions were comfronted with experience of Anita Gašparíková’s opinions who is an economic manager of VVS a.s. She presented her own experience with presenation of her own comapny asset acording to IFRS.
In the field of transition of therotical know-how to waterworks companies contribution called “Plan of transition to IFRS“ of Ľudmila Buzgová from Deloitte company played a key role. Mrs. Buzgová provided the participants of the seminar with time demands information about the whole process, sources of all kinds, change of thinking and the way of planning of whole process and she also spoke about the critical spots of its successful realization. Through a lot of examples she was able to show what are the key points of transition to reporting according to IFRS. Her contribution fastened on introductory lecture by Tibor Krajčovič who spoke about basic principles of IFRS and the reasons for their implementation in slovak companies.
Seminar was addressed to financial management of waterworks companies.
It was attended by 32 represenatives of 9 waterworks companies.
Martin Dudák
Specialist Assistance for Slovak Regional Water Companies
Activities carried out as part of the project
Activities under preparation