Template-Type: ReDIF-Article 1.0 Author-Name: Miloš Mařík Title: Výzkum na Katedře financí a oceňování podniku Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=227.pdf File-URL: http://www.vse.cz/cfuc/227 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:227 Template-Type: ReDIF-Article 1.0 Author-Name: Jitka Koderová Title: Notes on the Importance of the Teaching of the History of Economic Theories for the Students of the UEP Abstract: The article deals with the question how important is the knowledge about the history of the economic theory for the students of the University of Economics of Prague (UEP) in the time when the courses of standard micro and macro economics are one of the main parts in the education of the young economists. History of Economic Theories (HET) had been taught at the Czech universities of economics since 1945. 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 development of economic theory. In 1993 HET ceased to be obligatory in the new system of education in the UEP. The importance of knowledge of the history of economic theories caused, that 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: 7-20 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=228.pdf File-URL: http://www.vse.cz/cfuc/228 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:228:p:7-20 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/228 Template-Type: ReDIF-Article 1.0 Author-Name: Libor Vašek Title: Prepayments for Purchase of Property, Plant and Equipment Abstract: The article provides an illustrative example whose aim is to show an accounting treatment for a purchase of property, plant and equipment when the purchase price is denominated in foreign currency and prepayments are provided by entity. The following question arises in connection with that transaction: Shall be the prepayments denominated in foreign currency translated at balance sheet date using closing rate or not? The solution results from IAS 21 where the requirement to translate non-monetary items (including property, plant and equipment) using historical rate is included. This policy leads to different results than Czech accounting standards. Keywords: Foreign currency, Property,plant and equipment, International Financial Reporting Standards, Czech Accounting Standards, Cizí měna, Dlouhodobý majetek, Mezinárodní standardy účetního výkaznictví, České účetní standardy Classification-JEL: M41 Pages: 21-26 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=229.pdf File-URL: http://www.vse.cz/cfuc/229 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:229:p:21-26 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/229 Template-Type: ReDIF-Article 1.0 Author-Name: Marie Míková Title: Main risk areas in using return on investment in financial decision making Abstract: This paper describes three main risk areas in using return on investment in financial decision making. The paper also shows how to analyze differences between planned and actual size of return on investment and preconditions for using return on investment in financial decision making. Keywords: Return on investment, Financial decision making, Finanční rozhodování, Risk areas, Rentabilita vložených prostředků, Rizikové oblasti Classification-JEL: M41 Pages: 27-31 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=230.pdf File-URL: http://www.vse.cz/cfuc/230 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:230:p:27-31 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/230 Template-Type: ReDIF-Article 1.0 Author-Name: Jitka Veselá Title: Some Less Known Charting Methods of Technical Analysis and Possibilities Its Using for Identification Trend Changes Abstract: Technical analysis is a method of predicting price movements and future market trends by studying charts and future of past market action. By technical analysts are used past information about prices, volume of trading and indexes for predicting futures prices movements. Technical analysis is a subjective “art” or skill whose success depends on a great deal on the analyst experience. Technical analysis is based on three underlying principles: 1.Market action discounts everything, 2.Patterns exists and 3.History repeat itself. The technical analyst has a wide variety of technical analysis tools and techniques to choose from. It is possible all tools of technical analysis dividing into too group. First of them contents different types of charts and seconds of them is composed from technical indicators. There are several types in Europe and America less known charts of technical analysis as for example Kagi Chart, Three Line Break Chart and Renko Chart. These types of charts can be successfully used for identification changes of trend on the capital, commodity or currency markets. Basic principles for plotting these types of charts are special, however very clear. Their basic principles come from Japanese philosophy. Keywords: Technical Analysis, Kagi Chart, Three Line Break Chart, Renko Chart, Technická analýza, Kagi Chart, Three Line Break Chart, Renko Chart Classification-JEL: G12, G19 Pages: 32-40 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=231.pdf File-URL: http://www.vse.cz/cfuc/231 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:231:p:32-40 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/231 Template-Type: ReDIF-Article 1.0 Author-Name: Jarmila Radová Title: Measuring of bond price sensitivity Abstract: In this article is analyzed duration as a measure of interest risk of bonds. We study significant factors which influence on highness of duration and also price chance of bonds. We discuss different ways to calculate duration and also we try to show its importance to management of bonds portfolio. Keywords: Imunizace, Yield to maturity, Immunization, Durace, Výnosnost do doby splatnosti, Imunizace Classification-JEL: G12, G24 Pages: 41-55 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=232.pdf File-URL: http://www.vse.cz/cfuc/232 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:232:p:41-55 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/232 Template-Type: ReDIF-Article 1.0 Author-Name: Stanislava Půlpánová Title: Electronic Money in the Czech Republic Abstract: This paper aims at comprehension of fundamental economic category - money in its actual mode - electronic money. It is the great challenge of recent economy to explain its substance and forms of its functions. Perhaps we can assume the idea that money ought to be considered as a flow of information. Thus this paper is also describing the basic methods of regulation of electronic money using by the Czech National Bank. It was not the goal of this article to discuss the security of electronic money (as e.g. digital signatures, public key cryptography) due to its technical nature. Keywords: Electronic money, Methods of regulation of e-money, Institution of electronic money, Elektronické peníze, Elektronické peněžní prostředky, Elektronické platební prostředky, Předplacené prostředky, Platební služby Classification-JEL: G21 Pages: 56-65 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=233.pdf File-URL: http://www.vse.cz/cfuc/233 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:233:p:56-65 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/233 Template-Type: ReDIF-Article 1.0 Author-Name: Libuše Müllerová Title: Research and Development and Innovation Promotion Abstract: The commentary of the article is oriented on the definition of the research, development and innovations among which the author identifies interfaces. The borderlines among them evidently are hard to draw. The article deals with analysis of the factors influencing innovation performance in new EU member countries, particularly in the Czech Republic. Regulatory provisions of national innovation system in the EU member countries make use of direct and indirect forms of innovation promotion. Indirect promotion means supporting not only innovation, but also supporting research and development, which is preceding innovation output. In the EU member countries different forms of indirect promotion are applied. In the innovating firms the indirect promotion has usually influence on the income tax. The commentary presents advantages and disadvantages of the indirect promotion of innovation. In the Czech Republic the indirect promotion of the research and development was introduced in the year 2005 by the tax discount of the expenses used in the realization of the research and development projects. Keywords: Research and Development, výzkum a vývoj, Innovation, National innovation system, Types of innovation activity, Innovation policy, Infrastructure for support of innovation, Inovace, Národní inovační systém, Druhy inovační aktivity, Inovační politika, Infrastruktura pro podporu inovací Classification-JEL: M41 Pages: 66-74 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=234.pdf File-URL: http://www.vse.cz/cfuc/234 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:234:p:66-74 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/234 Template-Type: ReDIF-Article 1.0 Author-Name: Marie Míková Title: Financial Scandals, Accounting Change and the Role of Accounting Academics: A Perspective from North America Abstract: This paper examines the responses of North America academics to the recent wave of accounting and audit scandals. The paper suggests that the main response to these scandals can be divided into two big groups. The first one takes the position that the whole system works and the scandals are in fact an evidence of this functional system. The second group suggests to introduce and to intensify the education of ethics and moral aspects in various curricula. Authors of the paper however gather that both these reactions do not offer the solution of social and political context of accounting. They come to the conclusion that only broad collective action can bring adequate changes in education and research. Keywords: Accounting scandals, Association for Integrity in Accounting, Accounting ethics, Accounting interventions, Accounting academia, Účetní skandály, Association for Integrity in Accounting, Účetní etika, Účetní intervence, Účetní akademická obec Classification-JEL: M41 Pages: 75-78 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=235.pdf File-URL: http://www.vse.cz/cfuc/235 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:235:p:75-78 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/235 Template-Type: ReDIF-Article 1.0 Author-Name: Pavel Marinič Title: Capital Structure versus Rating Abstract: Economic rising request a new types and form and resources for financing needs and investing. Clear chance appears use of rating in financials decisions. Rating impacts capital structure and has influence final decision on acceptance of capital investment and capital structure. Anticipation of credit rating is possible in the case reflect the long-term development value of firm. Keywords: Value, Risk, Riziko, Efficiency, Capital investment, Beta, Cost of capital, Rating, Alokace kapitálu, Výkonnost firmy, Hodnota firmy, Průměrné kapitálové náklady, Beta koeficient Classification-JEL: G30 Pages: 79-83 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=236.pdf File-URL: http://www.vse.cz/cfuc/236 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:236:p:79-83 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/236 Template-Type: ReDIF-Article 1.0 Author-Name: Anna Staňková Title: Why and How to Evaluate the Creditworthiness of SMEs’ Business Partners Abstract: This article presents a method for developing internal ratings to best select among the business partners of a firm. It represents very complex goal which should be performed according to some proven managerial techniques. The author implemented the Analytic Hierarchy Process in which the problem is approached step by step. Managers and experts judgments are taken into consideration when structuring the problem. Since qualitative factors come into play, special attention is given to determining not only quantitative but also qualitative criteria. The process continues with the assessment of importance of group of criteria and sensitivity analysis. The applicability of this method especially in small and medium-sized firms is highly questionable. Keywords: Malé a střední podniky, Creditworthiness, Internal rating, Analytic Hierarchy Approach, Qualitative criteria, Decision making process, SMEs, Bonita, Interní rating, Analytical Hierarchy Process, Kvalitativní kritéria, Rozhodovací proces Classification-JEL: L26 Pages: 84-87 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=237.pdf File-URL: http://www.vse.cz/cfuc/237 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:237:p:84-87 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/237 Template-Type: ReDIF-Article 1.0 Author-Name: Libuše Šoljaková Title: Impact of Revenue Recognition on Future Performance Abstract: The SEC issued Staff Accounting Bulletin No. 101 regarding the revenue recognition. Critics of the bulletin stated that it would eliminate industry-accepted revenue recognition practices and reduce quality of reported earnings because revenues recorded prior to the completion of the earnings process contains value relevant information about future performance. The research investigates these hypotheses using the sample of firms that accelerated revenue prior to SAB and a matched set of firms that were unaffected by this regulation. In preadoption period SAB firm report more positive earnings than they do in post-adoption period and than unaffected firm. Keywords: Revenue, Výnosy, Cash flow, Revenue recognition, Percentage of completion, Uznání výnosů, Peněžní toky, Metoda procenta dokončení Classification-JEL: M41 Pages: 88-91 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=238.pdf File-URL: http://www.vse.cz/cfuc/238 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:238:p:88-91 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/238 Template-Type: ReDIF-Article 1.0 Author-Name: Jaroslav Wagner Title: Management Accounting Systems Adoption in Startup Companies Abstract: This assay deals with discussion about research issues and findings concerning determinants of management accounting systems adoption in early-stage/start-up companies and their impact on company growth and performance in US firms. It notices common and different conditions in US and Czech companies and it controverts qualitative approach to appraisal of MAS adoption level. Keywords: Performance management, Řízení výkonnosti, Budgeting, Management accounting systems, Manažerské účetní systémy, Rozpočtování Classification-JEL: M21, M41 Pages: 92-95 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=239.pdf File-URL: http://www.vse.cz/cfuc/239 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:239:p:92-95 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/239 Template-Type: ReDIF-Article 1.0 Author-Name: Dana Kovanicová Title: International Regulation of Financial Reporting: Genesis, Development and Present Abstract: The paper is a review of International Accounting publication (first edition), authors of which are two university teachers: Z. Šuranová and M. Škoda. This review especially appreciates a broader orientation on the institutional base of standardization, a critical view on the one-side argumentation supporting the accounting internationalization as well as an initiative to changes in education of accounting. Problem of asymmetry in accounting and financial reporting is also discussed in the survey. Keywords: International Accounting, Standardization, European Union Harmonization, Mezinárodní účetnictví, Standardizace, Harmonizace v Evropské unii Classification-JEL: M41 Pages: 96-100 Volume: 2007 Issue: 3 Year: 2007 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=240.pdf File-URL: http://www.vse.cz/cfuc/240 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2007:y:2007:i:3:id:240:p:96-100 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/240