Czech Financial and Accounting Journal, 2011 (vol. 2011), issue 4
Introduction
Malé zamyšlení ke konci roku nad superhrubou mzdou a dalšími daňovými otázkami
Jana Skálová
Český finanční a účetní časopis 2011(4):5-6 | DOI: 10.18267/j.cfuc.138 
Vážení čtenáři, závěrem roku 2011 si dovolím malé zamyšlení nad daňovými otázkami, které během letošního roku vyvstaly. České ministerstvo financí pokračovalo s přípravou jednotného inkasního místa, což je záměr již několik let oslavovaný a připravovaný. Cílem jednotného inkasního místa je spojit výběr daní, sociálního pojištění i zdravotního pojištění na jeden formulář, na jeden úřad. Zcela jistě lze tyto záměry označit slovem "daňová reforma". Záměr pro poplatníka jistě lákavý (snížila by se administrativa), pro řadu státních úředníků však méně. Výsledkem této přípravy bylo předložení návrhu zákona do poslanecké sněmovny, který se ukázal jako nedotažený,...
Articles
Regulatory Response to Financial Crisis - Some Questions
Petr Dvořák
Český finanční a účetní časopis 2011(4):7-15 | DOI: 10.18267/j.cfuc.139
Natural response to the financial crisis is mostly increased regulation. This was happened in history, as well as in the global financial crisis today. The reasons for this usually lie in the fact that the one of the main considered direct causes of the crisis is insufficient or incorrect regulation or only way to prevent certain problems just seems to be regulation. This paper reflects whether the new regulatory measures introduced in response to the causes and effects of the global financial crisis (increase capitalization of banks, regulation of minimum bank liquidity, regulation of rating agencies, deep transparency of OTC derivatives, in particular...
Accounting for Mergers and its Contemporary Problems in the Czech Republic
Hana Vomáčková
Český finanční a účetní časopis 2011(4):16-31 | DOI: 10.18267/j.cfuc.142
Despite of harmonisation processes throughout EU directives conceptual legal and accounting differences of national solutions for mergers could be very important. There shall be stated certain discrepancies in following areas: . date of acquisition versus effective date; . revaluation issues of mergers; in case that the revaluation is required, there shall be also stated the variants of accounting solution according to national legislature, modification of the accounting method of purchase; . existence or nonexistence of the obligation for preparation of final financial statements from which are recognized the amounts for the open balance sheet of...
Small Change in Czech Accounting Regulations or Big Change in Accounting Thought
Jana Skálová
Český finanční a účetní časopis 2011(4):32-42 | DOI: 10.18267/j.cfuc.144
The Czech accounting council discussed how to correct errors from previous year. Czech accounting standards suggest using extraordinary expenses or revenues. However some Czech professionals reject this method as it doubles the error in the following year. The Czech Accounting Council issued an interpretation about comparability in accounting information in 2007. In the document a new approach is recommended. The Ministry of finance has prepared new rules following this recommendation. These are slated to come into effect in 2013 together with an amendment on income tax. The new approach uses a new item in equity for recording these corrections of...
Proposals of a New Standard for Revenue Recognition: Open Issues
David Procházka
Český finanční a účetní časopis 2011(4):43-51 | DOI: 10.18267/j.cfuc.146
The paper reacts to the present development in the field of revenue recognition under IFRS and US GAAP. IASB and FASB published an Exposure Draft Revenue from Contracts with Customers under joint Revenue Recognition Project. The Draft introduces a new guidance on revenue recognition, which may significantly alter current accounting practice. The paper focuses on the project's background, main newly proposed principles for revenue recognition and their possible advantages and disadvantages.
The Agency Cost from the Point of View of Financial Markets
Tomáš Buus
Český finanční a účetní časopis 2011(4):52-67 | DOI: 10.18267/j.cfuc.148
We examine agency cost in the multibusiness enterprises (hereinafter "MBE"). Our goal is to find out, whether is there a positive relationship between the complexity of MBE and agency cost. Results are ambiguous, nevertheless we got an indirect indication that more complex MBE bring more advantages than disadvantages and that the avoidable agency costs are effectively eliminated at the lower levels of MBE structure. It emerges then that the main reason for agency cost is information asymmetry and the largest part of avoidable agency cost emerges in the highest levels of corporate hierarchy.
Foreign Direct Investment in Selected Countries of Balkan: Does it Crowd out or Crowd in Domestic Investment?
Zuzana Gallová
Český finanční a účetní časopis 2011(4):68-78 | DOI: 10.18267/j.cfuc.151
Foreign direct investments are generally considered as one of the factors with positive influence on the economic development of countries in which this investments flow. In evaluating the impact of foreign direct investment on development, however, a key question is whether foreign direct investment crowd in domestic investment, or foreign direct investment crowd out domestic investment. The aim of this paper is to examine whether foreign direct investment in selected countries of Balkan crowds in or crowds out domestic investment. For this purpose we apply theoretical model of investment that includes foreign direct investment as an exogenous variable....
The Comparative Analysis of Specific Effective Average Tax Rates of Corporation in the EU Countries in Years 1998 - 2007
Květa Kubátová
Český finanční a účetní časopis 2011(4):79-91 | DOI: 10.18267/j.cfuc.154
This article based on comparative analysis investigates the effective average tax rates of corporations determining an actual tax burden in EU Member states with the emphasis on the Czech Republic and further the individual effective rates calculated by various methods. However corporations are taxed by one nominal rate, in fact the different sectors and types of investments are taxed at different rates. Such taxes having distorting effects on the behavior of economic entity are considered to be wrongful and ineffective because they cause excessive tax burden. The current Tax Reforms put a target to limit these looses caused by distortions. There are...
Legal and Ethical Aspects of Infringement of Copyright in Academic Sphere from the Point of View of Economist
Milan Hrdý
Český finanční a účetní časopis 2011(4):92-105 | DOI: 10.18267/j.cfuc.156
The contribution analyzes the legal and ethic side of the infringement of copyright law in the university world from the not only theoretical point of view, but also with the use of practical knowledge. The focus is fixated mainly on the analysis of single reasons of this problem and on the possibilities of its solution from the legal and ethical point of view. The problems of the final graduate works are closely analyzed including the position of the heads of the supervisor. The right citation is recognized as the most important protection against the infringement of copyright law and it is analyzed in detail in this contribution. At the conclusion...
Analysis of the Relationship between the Profitability of Customers and their Contribution to the Company's Financial Position
Artur Rutkouski
Český finanční a účetní časopis 2011(4):106-118 | DOI: 10.18267/j.cfuc.158
This paper deals with the possibilities of practical application of the traditional model of Customer Profitability Analysis and possibilities of its extension of the capital costs related to a shorter or longer interval of payment of claims or additional resources of stocks, which are caused by specific customer need. Conclude is: the benefits of the method lies mainly in its use in future negotiations with customers - with general emphasis on those groups where a combination of marginal product benefits and high costs of sales phase leads to the fact that the total contribution of these customers to a profit is insignificant or even negative. According...
Activity Based Costing as Way to Streamline Government
Jiří Hammer
Český finanční a účetní časopis 2011(4):119-130 | DOI: 10.18267/j.cfuc.160
To address the negative impacts of economic recession can be successfully used modern methods of management costs through cost technology ABC (Activity Based Costing). In addition to market effects in the business community is the use a more efficient use of public resources in the organizational components state. The analysis shows that the sector of government, there is a major expenditure group, which is determined by administrative demands of government. Identifying specific causes of costs using ABC and consequently their effective management can be achieved significant cost savings, particularly in the current economic recession, as desired....
Full Goodwill Based on the Cost of Acquisition vs. Full Goodwill Based on Value of Acquired Entity
Vladimír Zelenka
Český finanční a účetní časopis 2011(4):131-141 | DOI: 10.18267/j.cfuc.161
Goodwill was recognized to the extent of acquirer's interest for several decades. It was measured as difference between cost of acquisition and acquirer's interest in the identifiable net assets of acquired entity at the date of acquisition. Consequently recognized goodwill does not represent total goodwill that includes also the part of goodwill corresponding to the noncontrolling interest. If the base for the quantification of the full goodwill would remain the cost of acquisition, there would be impossible to find satisfactory way to quantify that part of the goodwill relating to the non-controlling interest. It appears as consistent approach the...
Comparability Illusion
Libuše Müllerová
Český finanční a účetní časopis 2011(4):142-145 | DOI: 10.18267/j.cfuc.163
The article presents the research results which was focused on the issue of comparability of the financial statements composed according to IFRS. The conclusions of this research which interviewed auditors, analytics and the others users of financial statements indicate problems which are associated with several standards. The reason of the incomparability of financial statements rests with subjective approach while applying the standards. The authors assume that full comparability of the financial statements will never be attained.
Refer to Problems and Possibilities of the Activities of Audit in Present Terms with a View to Recognition of Fraud
Jindřiška Kouřilová, Zita Drábková
Český finanční a účetní časopis 2011(4):146-157 | DOI: 10.18267/j.cfuc.165
This discussion refers to polemic of questions of possibility how to recognize accounting fraud. It's possible to agree if external auditor proceeds according to ISA's (international auditor's standards), he would disclose fraud. This conclusion is opportune completed with series of indicia, considerations and particular cases, which these make possible and support no always. Namely out of different areas, opinion also on the other side, including personal piece of knowledge in practice of companies.
Investment Rate and Efficiency of Investment in CR
Josef Valach
Český finanční a účetní časopis 2011(4):158-167 | DOI: 10.18267/j.cfuc.167
Objective of the article is the analysis of gross fixed capital formation in CR, investment rate and efficiency of investment during 2005-200. Different modification of investment rate is used. Efficiency of investment is observed by ICOR. Investment rate, efficiency of investment and saving rate are compared.
What is Meant "Financial Records"
Miloslav Janhuba
Český finanční a účetní časopis 2011(4):168-171 | DOI: 10.18267/j.cfuc.168
The paper points to sixtieth anniversary of the adoption of the statutory scheme so-called 'financial records' in Czechoslovakia in 1951. Characterizes the content of financial records and their challenges and points to a fundamental inadequacy of using the notion of inter exactly historically defined stretch of fifteen years, in which this form of accounting records was implement in the national economy.
Contemporary Approach of Owners and Managers to Environmental Costs and Externalities of Company Sustainable Development
Bohuslava Knapová
Český finanční a účetní časopis 2011(4):172-178 | DOI: 10.18267/j.cfuc.171
One of main targets of each company is performance growth and thrifty approach to the life environment. It is evident that owners and managers need to have available information about environmental issues and their economic results in the social environment. That´s why the accounting system should be conformable to new information needs; it should cover the economic, environmental and social connections of business in the area of expenses/costs and incomes. It is necessary to work with the allocation of costs to responsibility centres, business activities and outputs for purposes of the right decision making of owners and managers. With the decision...
Training Teachers of Economic Subjects in the Russian Federation and Tajikistan in the Tempus Project
Alena Králová, Marie Urbanová
Český finanční a účetní časopis 2011(4):179-186 | DOI: 10.18267/j.cfuc.173
The paper gives an overview of twenty years of development Tempus program. It describes its development phases, the focus and goals. It also informs about the TEMPUS project "Entwicklung und Implementierung nachhaltig wirksamer Entrepreneurship Strukturen zur Erziehung in der Russischen Föderation und Tadschikistan". The Department of Methodology Teaching of the University of Economics in Prague is one of the research group members. The main project mission is to develop and implement university degree programs to prepare teachers of economic subjects in the Russian Federation and Tajikistan, the development of teaching of economic subjects and learning...