In mid-September 2026, the National Accounting Board (Národní účetní rada – NÚR) approved a draft interpretation relating to Joint Ventures / Simple Partnerships (Společnost under the Czech Civil Code, formerly known as sdružení / unincorporated associations) for external public consultation.
In practice, this is a widely used instrument, particularly among accounting entities seeking to collaborate on joint projects, such as joint construction contracts.
The objective of this Interpretation is to establish accounting procedures for recognizing assets, liabilities, revenues, and expenses arising from the partnership's operations, as well as the accounting treatment of transactions conducted between the partners themselves.
Determining the correct accounting treatment relies primarily on evaluating the true nature of individual transactions and assessing the specific role and status of each partner within the structure.
To complement the procedural guidelines, the Interpretation includes illustrative practical examples that clarify complex scenarios.
The full draft text of the Interpretation is available here: NI-76 Draft Interpretation (PDF)
The public consultation period is currently open. Stakeholders and the broader public are invited to submit feedback until November 1, 2026. Following the review of all external comments, the final version of the Interpretation will be issued.
We will keep you updated on further developments.
This text was translated by AI.
