Czech Financial and Accounting Journal, 2007 (vol. 2007), issue 1

Na startu druhého ročníku

Petr Marek

Český finanční a účetní časopis 2007(1):5-8 | DOI: 10.18267/j.cfuc.204  

Segment Reporting

Dana Dvořáková

Český finanční a účetní časopis 2007(1):6-10 | DOI: 10.18267/j.cfuc.205  

Aim of this paper is comparison of IAS 14 - Segment reporting with IFSR 8 - Operating segments which replaced IAS 14 on January 1, 2007.

Institutional View of Accounting

David Procházka

Český finanční a účetní časopis 2007(1):11-29 | DOI: 10.18267/j.cfuc.206  

The series of corporate accounting scandals drew attention to the stewardship function of accounting. This exposition deals with the characteristics of accounting from perspective of institutional economic theory. I analyze relationship between owner and manager by the principal-agent model. This model helps us to reveal the causes which led to corporate scandals at the beginning of this millennium. As a reaction to these scandals, American Congress approved Sarbanes-Oxley Act. This act should help to protect investors by improving the accuracy and reliability of corporate disclosures.

Harmonization of Accounting in Governments and in Local Governments ABSTRACT The highest demands are currently made on public finance system. Among them belongs: to introduce such systems of budgeting which ensure proper administration and sufficient

Jaroslava Marhounová, Štěpánka Nováková

Český finanční a účetní časopis 2007(1):30-43 | DOI: 10.18267/j.cfuc.207  

The highest demands are currently made on public finance system. Among them belongs: to introduce such systems of budgeting which ensure proper administration and sufficient protection of public resources. The key significance for fulfilment of income and expenditures budget statements and showing of budget administration has got budgetary structure, obligatory document published by Ministry of Finance. After entrance of the Czech Republic to the EU this document has been amended in the way to correspond to practice. Relevant is as well process of harmonization of accounting connected to launching of International Public Sector Accounting Standards usage.

The Strategic System of the Performance Measurement of the Entrepreneurial Company

Bohuslava Knapová

Český finanční a účetní časopis 2007(1):44-47 | DOI: 10.18267/j.cfuc.208  

The conception Balanced Scorecard considers value criterions for the measurement and management of the performance of the entrepreneurial firm as necessary criterions with respect to their objectivity (they are verified by the market) and the complexity (they present the total criterions of the entrepreneurial process). The aim of the system Balanced Scorecard is to extend and interconnect of the performance measurement through value (financial) indicators about criterions of others areas, so-called perspectives of the activity (custom subsystem, subsystem of internal processes, employee subsystem). Balanced Scorecard helps as the communication instrument...

Education in Moral Area

Marie Kučerová

Český finanční a účetní časopis 2007(1):48-60 | DOI: 10.18267/j.cfuc.209  

My research describes questions about the development of moral reasoning of students of Business Academy and its correlation with age and studied classis. At the same time the research verifies the hypothesis that students of Business Academy has so called "segmented morality" - the students reason about the professional moral dilemmas on the different stage of moral reasoning than about the family (or friendly relations) moral dilemmas. The research is based on Kohlberg's theory of six stages of moral reasoning. Its asset lies in the elaboration of questions about moral reasoning and how to improve moral reasoning through professional education. The...

Polish Contribution to Discussion about True and Fair View in Accounting

Jiřina Bokšová

Český finanční a účetní časopis 2007(1):61-64 | DOI: 10.18267/j.cfuc.210  

The ongoing harmonization procedure with the European market (the European regulation from the year 2002), based on using international accounting standards, lead to forming of new reforms in the Polish accounting system. The Polish accounting system has made significant changes in the year 2000, compared to the year 1994, especially in the fields of terminology, new measures and national regulations based on the international accounting standards. The authors MacLullich and Katarzyna analyze the last development in the polish accounting system and the influence on true and fair view of accounting. The article disputes with the research carried out...

Comparison of US Bankrupt Firms Values Derived from Reorganization Plans with Values Achieved on Capital Markets

Pavla Maříková

Český finanční a účetní časopis 2007(1):65-69 | DOI: 10.18267/j.cfuc.211  

The contribution describes and discuses an interesting study that examines differences between firms' values estimated using valuation methods and their market values based on stock prices achieved on capital markets. The research was made on a sample of firms that reorganize under the Bankruptcy Code. The contribution underlines some chosen aspects and also some possible problems of the study.

Why Teacher Trainees Choose the Teaching Profession: Comparing Trainees in Metropolitan and Developing Countries

Marie Míková

Český finanční a účetní časopis 2007(1):70-73 | DOI: 10.18267/j.cfuc.212  

This paper examines the motivation of teacher trainees to select the teaching profession. The author compares motivation in metropolitan and developing countries and makes the conclusion that based upon the research executed at various universities the motivational model differs in metropolitan and developing countries.

Critical View of Relation between Tax and Financial Reporting with the Emphasis on Existence of Two Financial Reporting Systems in One Jurisdiction

Marcela Žárová

Český finanční a účetní časopis 2007(1):74-81 | DOI: 10.18267/j.cfuc.213  

The contribution of Nobes and Schwencke in the article "Modelling the Links between Tax and Financial Reporting: A Longitudinal Examination of Norway over 30 Years up to IFRS Adoption" was a model of the development of tax and financial reporting links. Norway has moved from a "continental" position to one that exceeds the disconnection of tax from financial reporting. The use of IFRS allows possibility of two "systems" of financial reporting within one jurisdiction.

About One Problem when Applying IFRS in Small and Medium-sized Enterprises

Zdenka Cardová

Český finanční a účetní časopis 2007(1):82-85 | DOI: 10.18267/j.cfuc.214  

The article is focused on valuation of property and liabilities in small and medium-sized enterprises while applying IFRS. One possibility of solving this problem is to reduce valuation of property and liabilities only to historical price basis.

Dividend Puzzle is Still Alive

Petr Marek

Český finanční a účetní časopis 2007(1):86-89 | DOI: 10.18267/j.cfuc.215  

Miller's and Modigliani's article Dividend Policy, Growth and the Valuation of Shares (1961) represented a revolution in the dividend theory development. By the issue of the article there was predominant opinion that the right choice of dividend policy can positively influence business value. In mentioned article authors presented dividend neutrality evidence in model with perfect markets, rational behavior and perfect certainty. Thenceforth scientists try to prove whether dividend neutrality is effective in real life or not. So far it hasn't failed to prove validity of the thesis, on the other hand to disprove as well not.