Czech Financial and Accounting Journal, 2010 (vol. 2010), issue 4
Introduction
Aktuální situace v oblasti IFRS
Ladislav Mejzlík
Český finanční a účetní časopis 2010(4):4-6 | DOI: 10.18267/j.cfuc.81 
Vážení čtenáři, na první pohled by se mohlo zdát, že tvorba a implementace IFRS je již vyřešený problém, který není třeba dále rozvádět. Opak je však pravdou. IFRS řeší z několika důvodů velmi intenzivní problémy, kvůli kterým je vhodné se o tuto problematiku zajímat. Rád bych se zastavil u hlavních témat, které považuji aktuálně za nejdůležitější Novely standardů a interpretací IFRS nejsou statické a intenzivně se mění. IASB má trvale rozpracovánu řadu projektů, které jsou krátkodobé dílčí povahy, ale i dlouhodobé koncepční povahy a zasahují podstatu řešení i více standardů najednou. Jejich kompletní přehled včetně harmonogramu jejich řešení a souvisejících...
Articles
Complicated Transfer of Tax Losses between Entities in the European Union
Jana Skálová
Český finanční a účetní časopis 2010(4):7-18 | DOI: 10.18267/j.cfuc.82
The article deals with the possibility of taxing the company plans to expand abroad through cross-border mergers. They discussed two alternatives fiscal relations - establishment of a subsidiary company for the use of losses incurred by subsidiary companies to reduce the tax base of the parent company. The second alternative examines the application of the losses incurred during the existence of branches abroad. Income tax advantages that may be gained in cross-border merger were implemented by virtue of Directive 90/434/EEC. The Income Tax Act allows Czech successor companies to take over tax losses that were incurred by foreign merging companies...
Transposition of the Participation Rights to Employees into the National Law of Cross-border Mergers
Marcela Žárová
Český finanční a účetní časopis 2010(4):19-27 | DOI: 10.18267/j.cfuc.83
This article deals with transposition of the employee participation from the 10th Directive of the European Parliament and of the Council on cross-border mergers of limited liability companies into the national law, which is represented by Czech law here. Transposition of the employees´ participation from the 10th Directive on cross-border mergers suffers from different deceases. One of first problem is the different understanding of limited liability companies. Czech company law enlarged the entities to be concerned by this law differently in comparison with the 10th EC Directive. The extension of participation rights to employees means the right...
Some Reasons for the Necessary Amendments to the Cross Border Mergers
Jan Lasák
Český finanční a účetní časopis 2010(4):28-41 | DOI: 10.18267/j.cfuc.84
This paper deals with certain problematic issues that are associated with the current legal regulation of cross border mergers. Given the nature of these issues, they should be addressed within the upcoming amendment of the Act. No. 125/2008 Coll., on Transformation of companies. With respect to these problematic issues, this material focuses, for instance, on provisions of the Transformation Act that are in violation with the European law, or on identification of legal persons that may participate on a cross-merger under the Czech law. In addition, this text discusses several issues concerning practical realization of a particular cross border merger.
Translation of Financial Statements in Other Currency according to IFRS because of Business Combination
Marie Zelenková
Český finanční a účetní časopis 2010(4):42-52 | DOI: 10.18267/j.cfuc.85
Translation of financial reports into other currency is inconsistent area of financial reporting. There are lots of ways of such translation. This paper deals with classification of methods of translation of financial reports into other currency and also deal with development of IFRS approach in this. An entity is required to translate its financial statements (i.e. results and financial position) from its functional currency into a presentation currency (or currencies) using the method required for translating a foreign operation for inclusion in the reporting entity's financial statements. Exchange differences arising on translating financial statements...
The cross-border mergers by Slovak Commercial and Accounting Law
Roman Sklenár
Český finanční a účetní časopis 2010(4):53-63 | DOI: 10.18267/j.cfuc.86
The main aim of the 10th European directive no. 56/2005/EC, about cross-border mergers was to allow free movement of capital among Member states. After the implementation the tax, business and accounting differences should disappear. Text of this directive is not in certain areas exact and it causes different implementation into business law in Member states. There are several differences between Czech and Slovak legislative regulates cross- border and national mergers as well. The main goal of this paper is to describe legislative in the Slovak Republic before the novelization in 2010 and after it. Slovak valid legislation afterwards compare with...
Managing Exchange Rate Risk in Not-for-profit Non-governmental Organizations
Ondřej Matyáš
Český finanční a účetní časopis 2010(4):64-80 | DOI: 10.18267/j.cfuc.87
The paper explores the effective design of management control systems in terms of managing exchange rate risks for not-for-profit non-governmental organizations (NGOs). Compared to business organizations, NGOs have just limited possibilities to tackle these risks for several reasons discussed in the paper. The paper focuses on effective design of control system to manage the exchange rate risk. The basic theoretical framework is described, same as the terminology used by NGOs to set up the financial report to their donors when having to convert the project expenses from primary to reporting currency. Then, based on the case study, various reporting...
Full Cost Recovery Method - the Challenge for Czech Universities?
Jaroslav Wagner
Český finanční a účetní časopis 2010(4):81-89 | DOI: 10.18267/j.cfuc.88
The paper focuses on principles of full cost recovery method in the area of research and development and it discusses challenges as well as potential problems of the implementation at Czech universities. First, the paper deals with significance of full cost method for users of information. Second, it concerns with some fundamental issues of method implementation as system organizational change. Finally, real and assumed risks and difficulties of implementation in Czech universities are discussed.
The Reasons for the Adoption of IFRS: Economic or Institutional?
Dana Kovanicová
Český finanční a účetní časopis 2010(4):90-95 | DOI: 10.18267/j.cfuc.89
Some countries take IFRS without hesitation, the other accept them only in part or even prevent their acceptance. Judge at al. (2010) concluded that the degree of which IFRS are included within national economies, is the resultant of load pressure exerted by the institutions: this pressure can be coercive, imitative or normative. The discussion on article aims to confirm that the process of adopting IFRS is controlled by the pressure of the official institutions rather than by economic efficiency for those entities who implement IFRS. On the other hand, the authors' opinion, that more attention was attached to the consequences of the adoption of IFRS...
Business Combinations Date for Mergers for Accounting Point of View
Hana Vomáčková
Český finanční a účetní časopis 2010(4):96-100 | DOI: 10.18267/j.cfuc.90
The issue of business combinations date arose in accounting in connection with the case of cross-border fusions again. The solution of this issue in the Czech accounting and in company law takes into account objective fundament of the transaction. Legal regulation in many EU countries is different - somewhere it is date of business combinations determined as the day of entry in business register, elsewhere it is the business combinations date set as the day arranged in a contract. The suggested solution of individual determination of this day is debatable. Financial information which arrases in accounting of recipient companies from this solution would...
Valuation Prospective of Merger Accounting of Deferred Tax
Jiří Pelák
Český finanční a účetní časopis 2010(4):101-107 | DOI: 10.18267/j.cfuc.91
This article deals with the meaning and technicalities of merger (both cross-country and local) accounting of deferred tax. It describes important relationships between valuation prepared by an expert and the way the valuation is used for measuring purposes in accounting and for setting a value of shareholder interests.