Template-Type: ReDIF-Article 1.0 Author-Name: Ladislav Mejzlík Title: Jak dál při tvorbě IFRS? Pages: 4-5 Volume: 2008 Issue: 3 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=275.pdf File-URL: http://www.vse.cz/cfuc/275 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:3:id:275:p:4-5 Template-Type: ReDIF-Article 1.0 Author-Name: Dana Kovanicová Title: Financial Statement of Micro-enterprises: Continually Open Question Abstract: In spite of the fact, that micro-enterprises are irreplaceable business entities in every country, there was not a relevant attention to them in former years. They were loaded with administrative and others burdens that did not correspond to their nature. Paper goes out from this recognition and deal with what sort of financial statement is appropriate to micro-entities. To this intent, the micro-entities are first defined according to IASB concept and EU jurisdiction, a deeper analysis is provided consecutively by means of various classifications and determination of the most relevant users. Paper criticises the IFRS for PE project as inappropriate and recommends creation of a national project oriented exclusively on microenterprises and users needs. Present situation in CZ is indicated at the end. Keywords: Financial Statement, Micro-entities, Finanční výkaznictví, Private enterprises, IFRS for PE, Privátní podniky, Mikro-entity, IFRS pro PE Classification-JEL: M41 Pages: 6-19 Volume: 2008 Issue: 3 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=276.pdf File-URL: http://www.vse.cz/cfuc/276 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:3:id:276:p:6-19 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/276 Template-Type: ReDIF-Article 1.0 Author-Name: Petr Marek Title: Model of Deferred Advantage or Disadvantage from Reinvestment - Methodical Problems Abstract: The article deals with methodical problems connected with model of deferred advantage (or disadvantage) from reinvestment. The advantage shall be understood as a difference in shareholder’s wealth resulting from the situation when the corporate profits are ploughed back into business operations rather than distributed among shareholders in form of dividends. If negative figures are the case, it is dealt with deferred disadvantage. Main methodical problems represent a) form of shareholder’s income (dividend payment versus capital gains), b) number of periods, c) fixed versus proportional return on capital, and d) tax aspects. On base of Masulis and Trueman paper (1988) optimal dividend payout ratio was also proposed. Keywords: Dividenda, Dividend policy, Dividendová politika, Dividend, Model of deferred advantage or disadvantage from reinvestment, Model odložené výhody resp. nevýhody z reinvestování Classification-JEL: G35 Pages: 20-26 Volume: 2008 Issue: 3 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=277.pdf File-URL: http://www.vse.cz/cfuc/277 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:3:id:277:p:20-26 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/277 Template-Type: ReDIF-Article 1.0 Author-Name: Josef Valach Title: Budgeting and Invoicing of Building Investments Abstract: The paper deals with budgeting of building firms. Firstly, factors determining character and structure of building budget are described. Secondly, basic types of building budgets are distinguished and their drawbacks are identified. Finally, the attention is devoted to invoicing of building activities. Keywords: Budgeting, Rozpočtování, Building budget, Invoicing of buildings, Stavební rozpočet, Fakturace staveb Classification-JEL: G31 Pages: 27-38 Volume: 2008 Issue: 3 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=278.pdf File-URL: http://www.vse.cz/cfuc/278 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:3:id:278:p:27-38 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/278 Template-Type: ReDIF-Article 1.0 Author-Name: Tomáš Buus Author-Name: Jaroslav Brada Title: On the Properties of Transfer Pricing Rules Abstract: We review some relevant literature in the field of tax evasion avoidance proposals. Unfortunately legislative a political conditions (double taxation treaties, tax competition) prevent some of the most useful designs proposed in the scholar literature, to be widely used in Europe. Then we concentrated on properties of transfer pricing rules proposed by OECD guidelines - Cost+ method, comparable resale price method (CRP), profit split method (PSM), comparable uncontrolled price method. We used neoclassical microeconomic model of firm a simulation tools (random cost a income functions). We found that some of these methods (PSM, CRP with fixed discount) cause quite large distortions in the optimal quantity of final good (a therefore also intermediate product) produced. PSM also falls short on the instability of profitability between related industries in time. The most inconvenient property of Cost+ a CRP, which do not distort quantity produced by MNE if percentage markup (discount) is used, is that they are very sensitive to quality of database revenue authority uses, to stability of prices within industry a to profit margin. VAT or turnover taxes are naturally less sensitive, so emphasis on VAT might be a partial solution of multinationals’ pricing problem. Keywords: Transfer price, Transferová cena, Taxation, Zdanění, Multinational enterprises, Nadnárodní koncerny Classification-JEL: F23, G38, H21, H26 Pages: 39-55 Volume: 2008 Issue: 3 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=279.pdf File-URL: http://www.vse.cz/cfuc/279 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:3:id:279:p:39-55 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/279 Template-Type: ReDIF-Article 1.0 Author-Name: Stanislav Klazar Author-Name: Martin Zelený Title: Microsimulation Model for Distributional Analysis of Consumption Taxes Abstract: Consumption taxes are traditional source of public revenue in the Czech Republic and have been the second largest source of leakage of households' finance in the last decade following the social security contributions. However there is a lack of the precise redistributional analyses of the consumption taxation on individual/household level because of no suitable microsimulation model for the Czech Republic. This paper focuses on the construction of the static microsimulation model capable estimates individual VAT burden using data from the Czech Household Survey. This model is possible to be used in area of redistributional analysis of the tax reforms or in identification of statistically significant variables influencing tax burden. Keywords: Incidence, VAT, Excises, Redistribution, Microsimulation model, Dopad, DPH, Spotřební daně, Redistribuce, Mikrosimulační model Classification-JEL: C81, D63, H22, H23 Pages: 56-68 Volume: 2008 Issue: 3 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=280.pdf File-URL: http://www.vse.cz/cfuc/280 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:3:id:280:p:56-68 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/280 Template-Type: ReDIF-Article 1.0 Author-Name: Marie Zelenková Title: Effect of Exchange Rate Differences Relating to Receivables and Payables in Consolidated Financial Statement Abstract: The entities, that have to translate its results and financial position from its functional currency into a presentation currency for purpose of consolidation, use the method, under these assets and liabilities are translated at the closing rate, and income and expenses are translated at the exchange rates at the dates of the transactions. This paper refers to particular problems in the process of consolidation related to conversion of receivables and payables denominated in foreign currency and costs and revenues as result of these transactions as well. Keywords: Subsidiary, Mateřský podnik, Dceřiný podnik, Receivables, Pohledávky, Consolidation, Konsolidace, Závazky, Exchange rate differences, Payables, Parent entity, Kurzový rozdíl Classification-JEL: M41 Pages: 69-80 Volume: 2008 Issue: 3 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=281.pdf File-URL: http://www.vse.cz/cfuc/281 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:3:id:281:p:69-80 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/281 Template-Type: ReDIF-Article 1.0 Author-Name: Václav Černý Title: Provisions - Automatic Ensuring Sufficient Cash or Not Abstract: The article is specialized on provisions and try to settle question if creation of provisions leads automatically to ensure a sufficient cash in case of their need. From analysis of selected national legislative sources of Czech Republic comes through, that by selected provisions is this sequence ensured. Keywords: International Accounting Standards IAS/IFRS, Mezinárodní účetní standardy IAS/IFRS, Provisions, Rezervy, Peníze, Cash Classification-JEL: M41 Pages: 81-85 Volume: 2008 Issue: 3 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=282.pdf File-URL: http://www.vse.cz/cfuc/282 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:3:id:282:p:81-85 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/282 Template-Type: ReDIF-Article 1.0 Author-Name: Jan Jurečka Title: Partial versus Integrated Conception of Intellectual Property for Asset Valuation Abstract: The article warns about the unacceptable classification of the intangible assets in the International Valuation Standards (IVS), especially because intangible assets are sorted out in the partial items that are very difficult to be evaluated individually. To support this assertion, the article contains the short excerption from the article published in the magazine Virginia Law Review, in which the American authors have proved, that the basic forms of intellectual property are economically connected very sharp and this connection lasts not during legal protection, but even after the protection if finished. By this way, the Americans authors have supported both the critics of the actual classification of intangible assets included in IVS and the propositions that are in the third part of the article. The propositions are based on the idea, that the valuators of the intangible assets should to set the matrix table of the relationship among the parts of intangible assets and to evaluate the parts, in which the most influence of other forms of intangible assets are included. Keywords: Intangible Assets Valuation, Intellectual Property Valuation, International Valuation Standards, Oceňování nehmotného majetku, Oceňování duševního vlastnictví;, Mezinárodní oceňovací standardy Classification-JEL: G12 Pages: 86-93 Volume: 2008 Issue: 3 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=283.pdf File-URL: http://www.vse.cz/cfuc/283 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:3:id:283:p:86-93 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/283