Czech Financial and Accounting Journal, 2012 (vol. 2012), issue 2

Introduction

Jak /ne/zvýšit kvalitu vysokých škol

Petr Dvořák

Český finanční a účetní časopis 2012(2):4-5 | DOI: 10.18267/j.cfuc.309  

Vážení čtenáři, od podpisu Boloňské deklarace uplynulo v letošním roce již třináct let. Pokud čteme cíle, které za touto deklarací a navazujících dokumentů stály, nelze jim upřít snahu o rozvoj vysokého školství v Evropské unii. I po třinácti letech však zůstává otázkou, zdali cesty, na kterých je celý tento proces založen, jsou takové, že k těmto cílům povedou. O potřebě zvýšit kvalitu našich vysokých škol slyšíme v posledních letech v různě silných vlnách prakticky nepřetržitě. Kolik jen za poslední roky vzniklo návrhů, jak reformovat vysoké školy, kolik času nad nimi spoustu lidí strávilo, kolik peněz to celé stálo - a výsledek? Každoroční kosmetické...

Articles

Exchange Rate Policy in Context of Financial Markets' Instability

Jaroslava Durčáková, Tomáš Kunz

Český finanční a účetní časopis 2012(2):6-21 | DOI: 10.18267/j.cfuc.310  

Financial crisis in Europe and USA originates a set of questions linked to the effectiveness of solution for its impacts. Concerning this fact the growing dynamics of five big economies, so called group as BRICS - Brazil, Russia, India, China and South Africa, comes to the front of economists' interest. The article concentrates on the scope on exchange rate policy of Russia in period 1999 - 2011 and its impact for internal and external economic equilibrium in context of financial markets' instability. The subject of interest is mostly foreign currency market. The paper reflects goals and instruments of exchange rate policy, analyzes development of...

Selected Aspect of the New Legal Regulation of Corporations in the Czech Republic

Tomáš Buus

Český finanční a účetní časopis 2012(2):22-35 | DOI: 10.18267/j.cfuc.311  

Selected aspects of new legal regulation of corporations in the Czech Republic is described and analyzed in this paper. These new stipulations will affect the corporate financial management in the Czech Republic from the beginning of 2013. The changes are not substantial in many aspects; however the regulation of transfer pricing and information obligations of corporations towards shareholders changes significantly. Till now the regulation of transfer prices in corporate law led to the same results as the regulation stipulated by tax law. Now the new law on business corporations allows compensation of the transfer prices with the advantages, which...

Items Reported in Individual Financial Statements Differently in Comparison of Consolidated Financial Statements

Marie Zelenková

Český finanční a účetní časopis 2012(2):36-54 | DOI: 10.18267/j.cfuc.312  

Among the most frequent transactions realized between related entities included in a group are sales of goods, provision of services, lending, sales of securities and other financial assets. Consolidation adjustments leading to eliminations of these transactions realized e.g. between parent and subsidiary, between subsidiaries, often leads in the different presentation of related items in consolidated financial statements in comparison of separate financial statements of entities that realized the transaction. Eliminations of selected transactions and their effect on the information presented in consolidated financial statements in comparison of individual...

Selected Consequences of Unlawful Conduct in Accounting in the Context of Current Legal Regulations of the Czech Republic

Jan Molín

Český finanční a účetní časopis 2012(2):55-65 | DOI: 10.18267/j.cfuc.313  

This paper deals with detailed analysis of sanctions imposed in the Czech Republic for unlawful conduct concerning accounting provided for in Act No. 563/1991 Coll., on Accounting, as amended. I analyze the difference between an infraction and an administrative offence including implications for determining sanctions for particular unlawful conduct. The paper provides a brief overview of potential sanctions in relation to the facts of particular unlawful conduct and to the person who committed such unlawful conduct. I also consider the problem of administrative punishment in a wider context. There are also discussed procedural provisions which are...

Provisions according to ČÚS and IAS/IFRS including Empirical Study of Disclosure

Michal Bobek

Český finanční a účetní časopis 2012(2):66-92 | DOI: 10.18267/j.cfuc.314  

Provisions are accounting items which depends on the estimations. Due to the estimations, the amount of provisions depends on the framework of estimations. The article presents methods of estimations and disclosures rules of both ČÚS and IAS/IFRS. The second part of the article is an empirical study which presents results of disclosure of provisions in Czech Republic according to the IAS/IFRS. The article presents the results of research of disclosure and mistakes in disclosure and meditates on possible inspiration of disclosure by Czech accounting standards. The disclosure and inspiration by ČÚS is measured by assessment of partial areas of disclosure.

Company Strategic Management and Its Information Support - Heating Company Hradec Králové Case (Company Strategy Formulation)

Bohumil Král, Jiří Seidler

Český finanční a účetní časopis 2012(2):93-109 | DOI: 10.18267/j.cfuc.315  

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...

Measuring of Efficiency in the Public and Private Sector - Current Research Approaches

Zuzana Kučerová

Český finanční a účetní časopis 2012(2):110-125 | DOI: 10.18267/j.cfuc.316  

The issue of performance efficiency is one of the basic issues in private and also in public sector. When comparing the effectiveness of subjects across these sectors the differences in their characteristics must be taken into account. With regard to these differences should be chosen the appropriate parameters for the measurement and comparison of results. The aim of this paper is to approach the issue of measuring performance efficiency in the public and private sector with reference to the related literature.

Analysis of Distortional Effects of Taxation on Financial and Investment Decision Based on the Methodology of Effective Tax Rates Calculation

Jaroslava Holečková

Český finanční a účetní časopis 2012(2):126-138 | DOI: 10.18267/j.cfuc.317  

The objective of this paper is to examine the use of effective tax rates on different types of capital assets and sources of financing and to assess on the base of calculation of the tax wedges the degree to which taxation affects the incentive to undertake investment. The methodology used to calculate effective tax rates on investments is based on an approach developed by the King and Fullerton methodology (1984), which has become the most widely accepted method adopted to calculating effective tax rates (tax wedges). The tax wedge will vary according to the type of asset: machinery, buildings, inventory and the type of finance sources: new equity,...