Czech Financial and Accounting Journal, 2017 (vol. 2017), issue 2

Articles

Price of Non-proportional Reinsurance based on Experience Rating

Adéla Stollinová

Český finanční a účetní časopis 2017(2):5-22 | DOI: 10.18267/j.cfuc.494  

Submitted article is aimed at topic of reinsurance. Currently, reinsurance is an essential part of insurance products business. Regarding to the fact that reinsurance could have different forms and each form has specific features, it is needed to concentrate on individual forms. The article has a goal to get closer and outline nonproportional type of reinsurance and analyze the pricing process in non-proportional reinsurance. Particular subject of analysis is determination of price of excess of loss reinsurance based on Experience Rating method using Burning Cost and Probabilistic Rating models. Thereafter, different calculation approaches are compared...

Is it an investment in hedge funds actually linked to a higher rate of return and risk compared to alternative investments?

Jitka Veselá, Martin Chalupa

Český finanční a účetní časopis 2017(2):23-45 | DOI: 10.18267/j.cfuc.495  

This article focuses on the hedge fund industry, its specifics and impact on the financial system and, in particular on the rate of return, risk and performance produced by the sector. The rate of return, risk and performance of the hedge funds and other asset classes were derived from monthly returns, standard deviation and Sharpe ratios. The time periods 1997-2016 and 2000-2016 were considered. The hedge fund industry, compared to the stock market, the gold market, and the overall commodity market, brought a significantly higher return at a lower risk in the considered period. In the past years, as the two-dimensionally most powerful hedge funds...

An analysis of the development of credit unions in modern Czech history with an emphasis on regulatory changes

Jakub Cibulka

Český finanční a účetní časopis 2017(2):47-69 | DOI: 10.18267/j.cfuc.496  

This paper deals with developments in the sector of credit unions in the Czech Republic. The first part of the paper describes the history of the sector and the factors that influence it. The second part deals with the development of credit unions in recent years. The indicators of financial analysis describe the development of the sector and show the influence of individual events, e.g. withdrawal of authorization to operate as a credit union or transformation to the bank. Major emphasis is devoted to the amendment to Act No. 87/1995 Coll., which regulated the obligations of members of credit unions and imposed their greater participation in the credit...

Potential risks during ERP implementation: view from the perspective of accounting

Jana Singerová

Český finanční a účetní časopis 2017(2):71-88 | DOI: 10.18267/j.cfuc.497  

The article outlines the risks associated with the implementation of the new information system in the company. The core of the article is the analysis of risk factors in the various phases of ERP system life from the point of view of accounting and its basic functions, ensuring a fair and true view of accounting in the financial statements. Analysis has been made based on secondary date and its application to the accounting needs. Many implementations end with exceeded budget, time schedule or both. Main risks are identified in the chapter 3. From the perspective of accounting, the riskiest phases are system selection, implementation and production...