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This article is focused on the use of International Financial Reporting Standards (IFRS) by selected companies which are listed on the Prague Stock Exchange. IFRS, as well as any other standards used for the preparation of financial statements, enable to use two or, in some cases, even more alternatives of accounting evidence of certain transactions. The users of financial statements, therefore, should pay more attention to the information embodied in notes. It provides the description of accounting methods used b...