Template-Type: ReDIF-Article 1.0 Author-Name: Bohumil Král Title: Patnáct let Katedry manažerského účetnictví Pages: 5-8 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=172.pdf File-URL: http://www.vse.cz/cfuc/172 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:172:p:5-8 Template-Type: ReDIF-Article 1.0 Author-Name: Dana Kovanicová Title: Financial Reporting Harmonization of Small and Medium-sized Enterprises: United Nations Project Abstract: In 2000, the Intergovernmental Working Group of Experts (of United Nation’s ISAR section) identified a number of obstacles that small and medium-sized enterprises (SMEs) are facing in application of accounting standards that had been issued by various standard-setting bodies, both national and international. It was agreed to start activity on project that would meet the accounting and financial reporting needs of such group of enterprises and their users - so called project ISAR SMEs. The research verified that three-tiered structure is the best for satisfying these needs. The enterprises of level 1 have public accountancy and thence apply full IFRS. Enterprises not related to significant public interest fall into the level 2; they therefore apply shorter IFRS, but they have the option to follow the full set of IFRS. The smallest entities belong into level 3; they apply simple accrual-based accounting also based on IFRS principles, but closely linked to cash transactions. These three levels would be determined by each State that chooses to apply this approach, taking into account the prevailing economic, legal and social circumstances. The project is pitched especially to developing countries and countries with economies in transition, in which there is no satisfactory developed market environment as the prerequisite of successful application of more exigent standards. Keywords: Accounting, Účetnictví, Malé a střední podniky, Financial reporting, Small and medium-sized enterprises, Finanční výkaznictví Classification-JEL: M41 Pages: 9-21 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=174.pdf File-URL: http://www.vse.cz/cfuc/174 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:174:p:9-21 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/174 Template-Type: ReDIF-Article 1.0 Author-Name: Josef Valach Title: Present development trends of long-term financial management Abstract: The paper deals with special long-term financial management problems. Attention is devoted to development (in theory and in practice) of investment decision-making process, long-term financial sources and state financial support of firm investment including public private partnership. Keywords: Long-Term Financial Management, Dlouhodobý finanční management, Investment criterions, Financial structure, Financial support, Investiční kritéria, Finanční struktura, Finanční podpora Classification-JEL: G30 Pages: 22-32 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=175.pdf File-URL: http://www.vse.cz/cfuc/175 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:175:p:22-32 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/175 Template-Type: ReDIF-Article 1.0 Author-Name: Bohumil Král Author-Name: Jaroslav Wagner Author-Name: Jakub Stránský Title: News in Management Control Systems Abstract: The authors describe emerging hot topics in management accounting systems (MCS) as discussed during the international conference held at University of Economics, Prague, in September 2006. This paper underpins all relevant aspects of MCS ranging from corporate governance, through planning and budgeting to ICT support. The authors conclude that the news in MCS is more likely an anticipated development than any hot intellectual breakthrough not seen so far, a development that integrates recent theoretical concepts deeper into the everyday reality of our industries to enable better governance for better performance. Keywords: Účetnictví, Management Accounting, Management Control Systems, Corporate Governance, Manažerské řídící systémy, Corporate governance Classification-JEL: M41 Pages: 33-42 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=176.pdf File-URL: http://www.vse.cz/cfuc/176 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:176:p:33-42 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/176 Template-Type: ReDIF-Article 1.0 Author-Name: Vladimír Králíček Title: Regulation of Auditing in the Czech Republic Abstract: Assurance services are services provided by auditors to reduce information asymmetry in agent/principal situation or in other situations when one party of transaction is able to gain less information then the other. Those services are regulated by International Standards on Auditing issued by International Auditing and Assurance Standard Board of IFAC and moreover audit of financial statements (as one of those services) is regulated by EU directive 2006/43/EC. There are some new and very serious requirements in this directive, e.g. public oversight, audit committee, rotation of audit partners, public interest entities, etc. In the second part of this article more technical aspects of auditors work are discussed (structure of ISA, recognition of assurance engagement under ISA etc.). Keywords: Mezinárodní auditorské standardy, New Statutory Audit Directive, Audit Regulation, Public Oversight, Quality Control, Audit Committee, International Standards on Auditing, Assurance Engagements, Nová směrnice Evropské unie o statutárním auditu, Regulace auditu, Veřejný dohled, Řízení kvality, Výbor pro audit, ověřovací zakázky Classification-JEL: M42 Pages: 43-61 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=177.pdf File-URL: http://www.vse.cz/cfuc/177 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:177:p:43-61 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/177 Template-Type: ReDIF-Article 1.0 Author-Name: Marie Zelenková Title: Problems of Different Balance-sheet Dates in a Group. Case of Income Taxes Abstract: Description of three various approaches to allocate income tax expense from financial statements of a subsidiary to financial statements according to the requirement of its parent company in case of the financial statements of a subsidiary used in the preparation of consolidated financial statements are prepared as of a reporting date different from that of the parent. Keywords: Účetní závěrka, Zisk, Financial statements, Daň ze zisku, Dceřiná společnost, Profit, Loss, Income tax, Tax base, Accounting period, Subsidiary company, Parent company, Základ daně, Ztráta, Účetní období, Mateřská společnost Classification-JEL: M41 Pages: 62-68 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=178.pdf File-URL: http://www.vse.cz/cfuc/178 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:178:p:62-68 Template-Type: ReDIF-Article 1.0 Author-Name: Marie Míková Title: Budget Procedure and the Management by Means of the Budgetary Statements Abstract: This paper describes the role of the budgetary statements in the financial management (the capital budget, the cash budget, the forecast balance sheet, the budgeted income statement etc.). Based on the budgetary statements, the firm is able to judge its future level of receivables, inventory, payables, and other corporate accounts as well as its anticipated profits and borrowing requirements. Keywords: Capital Budget, Cash Budget, Forecast Balance Sheet, Budgeted Income Statement, Rozpočet dlouhodobých finančních zdrojů, Rozpočet peněžních příjmů a výdajů, Rozpočetní bilance, Rozpočetní výsledovka Classification-JEL: M41 Pages: 69-79 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=179.pdf File-URL: http://www.vse.cz/cfuc/179 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:179:p:69-79 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/179 Template-Type: ReDIF-Article 1.0 Author-Name: Michal Hora Title: Birth of accountancy Abstract: This article proposes a way of historical progress of accountancy. Accountancy's infancy dates back to the earliest days of human agriculture and civilization, the Sumerians in Mesopotamia an another civilization, when the need to maintain accurate records of the quantities and relative values of agricultural products first arose. Accounting developed purely in response to the needs of the time brought about by changes in the environment and societal demands. The view to the history helps explain the phenomenal growth that the profession of accountancy has enjoyed worldwide since the first form of accounting record was born. How and why did this relatively new profession develop? Its history is that of human commerce, and even more fundamentally, of writing and the use of numbers and counting. Keywords: Accounting, Účetnictví, Records, History of Accounting, Záznamy, Historie účetnictví Classification-JEL: M41 Pages: 80-85 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=180.pdf File-URL: http://www.vse.cz/cfuc/180 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:180:p:80-85 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/180 Template-Type: ReDIF-Article 1.0 Author-Name: Pavel Franek Title: Price Calculation and Financial Plan in Customized Production Enterprise; Enterprise in Chaos Abstract: The aim of the case study is to acquaint the reader with the process of framing the financial plan by means of hour rates in engineering customized production. Using an example of a model division of specialized production, the author (a former director with many years of experience in a similar division) first explains the specificity of customized production. Further in the text he describes in detail the process of hour rate calculation, price calculation of a chosen representative of a part of the production range and the framing of the financial plan of the division. In conclusion reasons for the adjunct to the title “enterprise in chaos” are given and views of part of the corporate sphere on tendering are briefly commented on. Keywords: Financial Plan, Finanční plán, Customized production, Production programme, Order calculation, Price calculation, Product representatives, Hour rate, Labour costs, Overhead costs, Economic result, Zakázková výroba, Výrobní program, Kalkulace zakázky, Cenová tvorba, Výrobkoví představitelé, Hodinová sazba, Mzdové náklady, Režijní náklady, Výsledek hospodaření Classification-JEL: M41 Pages: 86-110 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=181.pdf File-URL: http://www.vse.cz/cfuc/181 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:181:p:86-110 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/181 Template-Type: ReDIF-Article 1.0 Author-Name: Václav Černý Title: Intra-plant stock changes as earnings? Abstract: The article is focused on comparison of reporting of the item „Intra-plant stock changes“ by different legislation issues. The first issues are Czech national accounting standards that consider this item as earnings. The second issues are International accounting standards IAS/IFRS that consider this item as earnings. The third issue is 4th directive of EU, that increasing of stock considers as earnings, decreasing of stock considers as costs. Metodicaly the best is the solution by IAS/IFRS. One part of the article is the case study including interpretation and conclusions, it contains recommendations of the author for Czech national legislation. Keywords: International Accounting Standards IAS/IFRS, Mezinárodní účetní standardy IAS/IFRS, Intra-plant stock, Costs by types, Účetní pravidla, Chyby Classification-JEL: M41 Pages: 111-118 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=182.pdf File-URL: http://www.vse.cz/cfuc/182 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:182:p:111-118 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/182 Template-Type: ReDIF-Article 1.0 Author-Name: Eva Ducháčková Title: Some current problems of governing on financial market Abstract: The article dealed about finding suitable model market conformal governing on czech financial market. Current organization of CNB as supervisory body in Czech republic are discussed. Futher the study of World bank about corporate governance in insurance branch and by care of consumers on financial market is commented. Authors meaning is not to increase the governing measure on financial markets. Keywords: Market Regulatory, Organization of Supervisory Body, Study of World bank about Corporate Governance in Insurance Branch and Care of Consumer on Financi, Tržně konformní regulace, Organizační uspořádání státního dohledu, Studie Světové banky o corporate governance v pojišťovnictví a o ochraně spotřebitele na finančích Classification-JEL: E58, G21, G22, G28, G38 Pages: 119-126 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=183.pdf File-URL: http://www.vse.cz/cfuc/183 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:183:p:119-126 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/183 Template-Type: ReDIF-Article 1.0 Author-Name: Jiřina Bokšová Title: Solvency I and Solvency II in Insurance Business Abstract: The foundations for Solvency II have already been laid. It will have a three-pillar structure; conceptually comparable to Basel II, though much of the practical detail and emphasis may be quite different. The three pillars will include financial resources, supervisory review and market discipline. Among the concepts that will be new to insurance business is target capital. Keywords: Credit risk, Úvěrové riziko, Solvency II, Solvency I, Three Pillars Structure of Solvency II, Target to Capital, Underwriting Risk, Market Risk, Operational Risk, Solventnost I, Solventnost II, Tři pilíře nového měření solventnosti pojišťoven, Orientace na kapitál, Pojistné riziko, Tržní riziko, Provozní riziko Classification-JEL: M41 Pages: 127-132 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=184.pdf File-URL: http://www.vse.cz/cfuc/184 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:184:p:127-132 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/184 Template-Type: ReDIF-Article 1.0 Author-Name: Jitka Koderová Title: Teaching of the History of Economic Theories in the University of Economics Prague Abstract: The article deals with the question in which extent the students of the University of Economics Prague (UEP) could get knowledge about the development of the economic theory. In the time, when it was impossible to buy any of foreign economist (with exception of Marxian authors form the socialist countries), the only way was the study of History of Economic Theories (HET), which had been taught at the UEP since its foundation in 1953 until 1993. At the beginning of this period HET was oriented mainly on the critique of selected non-Marxian economic theories, especially of the Austrian school, but in the course of time the critique was displaced by the positive explication of the commented theories. In 1993 HET ceased to be obligatory due to the bad assessment of the ability of the Department to ensure lessons in the new system of education in the UEP. But now the importance of knowledge of development of economic theories is stressed again and the new subject Economic History, in which HET is included, begins to be obligatory for all students of the UEP. Keywords: History of Economic Theories, Teaching of the History of Economic Theories, Dějiny ekonomických učení, Výuka dějin ekonomických učení Classification-JEL: A29, B31 Pages: 133-145 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=185.pdf File-URL: http://www.vse.cz/cfuc/185 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:185:p:133-145 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/185 Template-Type: ReDIF-Article 1.0 Author-Name: Barbora Rýdlová Title: Dyck and Zingales’ private benefits of control - is it possible to use the empirical study in Czech Republic? Abstract: The paper discusses the possibility of practical application of the results of the empirical study of private benefits of control in the conditions of the Czech Republic. Firstly it emphasizes the theoretical contribution of the alternative view of control premium. In the second part it draws attention to the methodological and application problems of the results of the study. It explains why they are not general enough to become the lead to estimation of the control premium in business valuation practice. Keywords: Private Benefits of Control, Control Premium, Soukromé výhody kontroly, Kontrolní prémie Classification-JEL: G30 Pages: 146-148 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=186.pdf File-URL: http://www.vse.cz/cfuc/186 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:186:p:146-148 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/186 Template-Type: ReDIF-Article 1.0 Author-Name: Dana Dvořáková Title: New opportunities from farm accounting Abstract: This paper is focused on polemic with the article „New opportunities from farm accounting” from authors Argilés and Slof. The polemic was aimed at critical assessment of this article base that the method which is used in „Farm Accountancy Data Network“(FADN) is compatible with requirements of IAS 41 - Agriculture. Bases from IAS 41 and the system FADN are different in approach to measurement and in other areas too. Keywords: Fair value, Reálná hodnota, Oceňování, Measurement, Agriculture, FADN, Zemědělství, FADN Classification-JEL: M41 Pages: 149-153 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=187.pdf File-URL: http://www.vse.cz/cfuc/187 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:187:p:149-153 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/187 Template-Type: ReDIF-Article 1.0 Author-Name: Jana Fibírová Title: Evaluation of modern approach of strategic cost control ABSTRACT Abstract: The aim of the strategic cost control is to recognize mutual interconnections and relations of budgeting process as a whole, to design the management model of a company operating in turbulent market environment and to specify the principles, rules and tools of the model. Budgets stand on the top of the complex of management system of business; they represent the completion of the whole planning system. Increasing of efficiency of budgets is closely linked to the change of business strategy reflecting changes of competitive environment of the company and the requirements of managers of their information support. Zero Based Budgeting is a contributive method to improve the quality of budgeting process. The method starts with target setting, identifying the activities in company, finding relations among these activities and grouping of the activities in the subprocesses. Considering benefits and the reasonable costs of the activities is the key step to reduce redundant and unproductive activities. Keywords: Rozpočet, Analýza ziskovosti zákazníků, Strategy of management, Outsourcing, Budgeting, Zero Based Budgeting, Activity Based Costing, Customer a Product profitability analyses, Strategické řízení, Outsourcing, Rozpočtování s nulovým základem, Kalkulace dílčích aktivit Classification-JEL: M40 Pages: 154-157 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=188.pdf File-URL: http://www.vse.cz/cfuc/188 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:188:p:154-157 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/188 Template-Type: ReDIF-Article 1.0 Author-Name: Jitka Koderová Title: In memoriam of profesor Vencovský Abstract: On the 5th of July, 2006 professor Frantisek Vencovský, the member of the Department of Monetary Theory and Policy, died. He was one of the most significant contemporary theoreticians and historians in the field of the monetary theory and policy. Prof. Vencovský became a well known specialist at the beginning of the 60´s, when he was involved in solving at that time key issues of monetary theory and policy. In the 90`s he acquired an impetus for his scientific work. He helped very significantly to describe the development of the Czech monetary theory and published many excellent books, which are highly appreciated by his contemporaries and which will be very important for the next generations of economic historians. Prof. Vencovský performed many honorary functions and was decorated many times. He will never be forgotten. Keywords: Monetary Policy, Měnová politika, History of Economic Theories, Monetary Theory, Dějiny ekonomických teorií, Monetární teorie Classification-JEL: B31 Pages: 158-162 Volume: 2006 Issue: 3 Year: 2006 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=189.pdf File-URL: http://www.vse.cz/cfuc/189 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2006:y:2006:i:3:id:189:p:158-162 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/189