M21 - Business EconomicsReturn

The article deals with the comparability of the requirements for accounting for leases as a source of a long-term financing of lessees in accordance with the IFRS and national accounting legislation in Slovakia. Even though current Slovak legislation has been inspired by the IFRS (namely, IAS 17), no full compliance has been ever achieved. The gap between national and international regulation was even widened by the introduction of the standards IFRS 16 (which came into force in 2018). Consequently, the Slovak legislation is dealing with the task of how to resolve these differences. The article compares accounting treatments of leases (from the point of view of lessees) as required by the Slovak accounting regulation for the businesses, by the former international standard IAS 17 and also by the new standard IFRS 16. It could be concluded that the national regulation is more prone to tampering the accounting principles than both the IFRS 16 and IAS 17. On the other hand, by unifying the accounting treatment to virtually all leases (for lessees), the IFRS 16 provides more consistent and sound approach. Were there not tax related issues, the accounting regulation in Slovakia has to be changed immediately.

The article presents answers to the basic question, whether American financial crisis hit Czech non-financial firms uniformly, and the subsequent question, whether there were significant differences in profitability among industries during pre- and post-crisis years. The answers were found by means of Spearman's rank correlation coefficient and k-means clustering method. The analysis drew from aggregated data published by the Czech Ministry of Industry and Trade covering years 2007 to 2015. The results show that the financial crisis lowered temporarily the ROA indicator in the more than half of industries forming the Czech economy. The reaction was uneven, plastic and rubber manufacturing reported the highest performance in all analyzed years, while industries such as coke manufacturing and oil refinery, electronic equipment manufacturing, accommodation activities incurred heavy losses during analyzed years.

The article describes the outcomes of the project whose purpose is - on the basis of the "Draft for a Common Statement" - to state generally accepted requirements for the professional competence of managerial accountants and controllers. The paper concludes that, despite the fact that Draft is only the first step, it brings substantial contributions: it has led to a better understanding of the differences which accompany this profession's development in different parts of globe. It enables better identification of common features, but also differences in profiles and professional orientations of professional accountants, auditors and professional accountants in business, and of managerial accountants or controllers whose quality professional development is the principle aim of this project.

The aim of the submitted article is to describe on the basis of evaluation basis principle requirements of IAS 2 - Inventories for definition, valuation a disclosure of this part of inventories which is the subject of its solution, to compare them with the analogical requirements of the Czech accounting legislation and national accounting standards and submit suggestions for the update of the Czech accounting legislation and standards for a future. The article concludes that IAS 2 - Inventories is in many regards respected and applied also in the Czech accounting legislation. The standard, however, brings some inspirations to its precision - especially in the substance, terminology and methodology. In this regard, the paper suggest seven changes in definition and valuation of inventories which should be incorporated into the Czech accounting legislation, into the Czech standards or their interpretations.

The article is searching for an appropriate indicator of customer profitability in corporate banking. It points out the advantages and disadvantages of the most common indicator - RAROC. Basel III regulation increases capital requirements which push banks to reassess their approach to profitability measurement. This may make the indicator based on regulatory capital approach (resp. based on risk weighted assets) superior to standard RAROC. Nevertheless, the most relevant disadvantage of RAROC is that all the costs are allocated to the customer regardless of the cause-and-effect allocation principle. It leads to a bias of such indicator and possibly also to improper management decision about customers. This issue can be solved by a modification of RAROC which measures profitability on the level of margin instead of net profit.

The aim of the submitted paper is to describe on the basis of evaluation basis recent system of management of the Heating Company Hradec Králové with the primary attention to its information support and to document on its example to what extend it reflects progressive tendencies influencing strategic company development. The paper is divided into two parts; this second one is devoted especially to questions of the strategy transformation into a shorter time horizons and more specific product, responsibility and process sizes. The article concludes system of the company strategic management including the part solving strategy transformation is on a high level. Consequently, management system quality has its reflection not only in the company financial results but also in the acquisition of certificates of quality management and environmental management and in two large projects which prove the company benefit to the region development and reflection of its social responsibility and environmental approach to all stakeholders. Quite different company perceiving in the eyes of public is the substantial change which follows the process of internal company re-engineering

The aim of the submitted paper is to describe on the basis of evaluation basis recent system of management of the Heating Company Hradec Králové with the primary attention to its information support and to document on its example to what extend it reflects progressive tendencies influencing strategic company development. The paper is devoted especially to questions of the strategy formulation and communication of the company as a whole. The article concludes system of the company strategic management is on a high level. The values which document this fact by the most substantial ways are its interdisciplinary approach, its respect to multidimensional character to business process and its content which also embraces relatively new strategic management aspects as corporate social responsibility, its relation to broadly understood environment following stakeholders theory and environment management and risk management realization.

This paper strives to address the issue of distribution costs budgeting, encountered by commercial banks whose business plans presume the sale of saving accounts using third-party distribution networks. A rather intricate problem arises, jointly requiring the design of a commercially viable commission schedule and estimating its impacts on the bank's financial results, where traditional methods fail. An annotated case study illustrates an expedient and practical solution using statistical simulation.

This paper deals with different kinds of costing formulas, regarding the price-setting decisions, resp. transfer-pricing decisions and business value maximization. Results of theoretical research show that it is always suitable to separate fixed and variable costs, nevertheless retrograde costing formula is more convenient in competitive environment, whereas dynamic costing is more suitable in the case of monopoly. While reflecting the above, it is also necessary to take into account the multi-layer nature of product, including servicing and extraordinary requirements of customer (e.g. by using activity-based costing). The main determinant of success is not only the type of costing formula used, but also quality and detail of the data in information system.

This assay deals with discussion about research issues and findings concerning determinants of management accounting systems adoption in early-stage/start-up companies and their impact on company growth and performance in US firms. It notices common and different conditions in US and Czech companies and it controverts qualitative approach to appraisal of MAS adoption level.