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The purpose of the article „Presentation of the Coronavirus pandemic in financial statements of entities for the year 2019 and prevention of fraud“ is to substantiate the possible options for reflecting the effects of COVID-19 in the financial statements for 2019 and to suggest preventive measures against fraud. In this connection, the Coronavirus pandemic is defined as a material, non-adjusting event for the financial statements as at 31.12.2019. This is to be disclosed in the notes, if management has approved...

The article „Usefulness of Financial Information and Fraud Prevention“ concerns the prevailing approach in accounting for generating information which satisfies the interests of potential investors, lenders and other creditors with regard to reporting entities and for making adequate decisions on future capital investments. The substance of the “usefulness” of the information in the general purpose financial statements is explained, and some of its specific expressions are presented. The qualitative charact...