Template-Type: ReDIF-Article 1.0 Author-Name: Petr Marek Title: Finanční krize přichází vždy na podzim Pages: 4-5 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=284.pdf File-URL: http://www.vse.cz/cfuc/284 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:284:p:4-5 Template-Type: ReDIF-Article 1.0 Author-Name: Petr Musílek Title: Causes of Global Financial Crises and Regulation-Failure Abstract: Global financial crisis is a sharp, brief, ultracyclical deterioration of all or most of a group of financial indicators - illiquidity, financial insolvencies, rate of returns, asset prices, financial institutions failures, and rush out of the real or long-term financial asset into money. Current global financial crisis includes credit crisis, liquidity crisis and investment crisis. We can identify these causes as follows: real estate bubble, credit overexpansion, overspeculation, financial panic, regulation-failure, and imperfect institutional arrangement of global financial market. Keywords: Global Financial Crisis, Globální finanční krize, Credit crisis, Real estate crisis, Úvěrová krize, Nemovitostní krize Classification-JEL: E44, G10 Pages: 6-20 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=285.pdf File-URL: http://www.vse.cz/cfuc/285 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:285:p:6-20 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/285 Template-Type: ReDIF-Article 1.0 Author-Name: Petr Dvořák Title: The Principles of Efficient Banking Deposit Insurance System ABSTRACT Abstract: The subject of article consists in banking deposit insurance system and in international experiences set the principles of efficient banking deposit insurance system for modern banking systems in global financial market. The recommended design of deposit insurance system is explicit insurance with broad client’s protection, which is comparable with systems in other countries where clients can easy transfer their deposit. Keywords: Deposit Insurance, Explicit and Implicite Deposit Insurance, Pojištění depozit, Explicitní a implicitní pojištění Classification-JEL: E58 Pages: 21-28 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=286.pdf File-URL: http://www.vse.cz/cfuc/286 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:286:p:21-28 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/286 Template-Type: ReDIF-Article 1.0 Author-Name: Jana Ištvánfyová Author-Name: Ladislav Mejzlík Title: Regulation and Implementation of Accounting Standards in the Public and Non-profit Sector in USA Abstract: As governmental accounting standards have developed, the complexities of preparing financial statements for governmental entities have greatly increased. Providing meaningful financial information to a wide range of users is not an easy task. Adding to these challenges, the Governmental Accounting Standards Board (GASB) recently introduced sweeping changes to the governmental financial reporting model. Currently, governmental accounting standards are established by the GASB. The first of several collections of municipal accounting standards issued by the National Council on Governmental Accounting (NCGA) in 1934 became known as the “blue book”. The GASB has completed its new model for financial reporting by governments that results in a radically different look to governmental financial statements from those of the past. The need for separate financial reporting standards for governments depends on the identities of the groups of users of the financial statements of state and local governments, the objectives of these readers and users, and the overall objectives of governmental financial reporting. Financial reporting should help users assess whether current-year revenues are sufficient to pay for the services provided that year and whether future taxpayers will be required to assume burdens for services previously provided. Keywords: Governmental accounting standards, governmental financial statements, governmental entities, GASB, financial reporting by governments, Účetní standardy vlád, vládní účetní závěrky, vládní účetní jednotky, GASB, účetní výkaznictví vlád a veřejného sektoru Classification-JEL: H83, M48 Pages: 29-36 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=287.pdf File-URL: http://www.vse.cz/cfuc/287 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:287:p:29-36 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/287 Template-Type: ReDIF-Article 1.0 Author-Name: Vladimír Zelenka Title: Full Goodwill - New Phenomenon in Business Combinations Reporting Abstract: IASB and FASB developed revised standards IFRS 3 (2008) and SFAS 141 (2007) in their joint project relating to the accounting for business combinations. Measurement of goodwill according to the revised standards differs on principle from current standards IFRS 3 (2004) and SFAS (2001). Goodwill based on the acquirer’s interest is replaced by the goodwill correspondent both acquirer’s interest and non-controlling interest. Keywords: Goodwill, Goodwill, Full goodwill, Celkový goodwill, IFRS 3, IFRS 3, Non-controlling interest, SFAS 141, Nekontrolní podíl, SFAS 141 Classification-JEL: M41 Pages: 37-43 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=288.pdf File-URL: http://www.vse.cz/cfuc/288 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:288:p:37-43 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/288 Template-Type: ReDIF-Article 1.0 Author-Name: Marcela Žárová Title: Fair Value Measurement - Obstacle or Benefit of Financial Accounting and Reporting? Abstract: Introduction of fair value into financial accounting and reporting is a consequence of accounting development in practice, in the last decade of the 20th century. Tendency to introduce fair value, even into SME accounting and reporting, brings fundamental obstacles. There are comments on published IFRS for Small and Medium-sized Entities (ED SME IFRS, 2007) in this text. Public comments are supported by results from field testing realized in Finland. The US SEC shall have the authority under the securities laws to suspend the application of Statement Number 157 of the FASB if the Commission determines that is necessary or appropriate in the public interest and is consistent with the protection of investors. Keywords: Fair value, Reálná hodnota, SEC, SEC, SME IFRS, IASB, FASB, SME IFRS, IASB, FASB Classification-JEL: G12, M41 Pages: 44-50 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=289.pdf File-URL: http://www.vse.cz/cfuc/289 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:289:p:44-50 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/289 Template-Type: ReDIF-Article 1.0 Author-Name: Jan Jurečka Title: Some Notices to the Firm Valuations by Income Approach Abstract: The article concerns some problems, which challenge the valuators of firms. They are following: the choice the appropriate relevant market as the model for estimation of the future firm economic development, the relation between the firm strategic and financial analysis, the relation between the amount of depreciations and investments in future years, the determination between the valuation for the finite or infinite time, application of the lower discount rate for the I. phase of the valuation and the warning about the faults in formulations the regression analysis between the development of the relevant market and the economic development of the firm. Author warns about the simplification of these problems in valuation reports. Keywords: Business valuation, Oceňování podniku, Výnosová metoda ocenění podniku, Firm Valuation, Valuation Reports, Business Income Valuation Approach, Posudky na ocenění podniku Classification-JEL: G12, G30 Pages: 51-60 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=290.pdf File-URL: http://www.vse.cz/cfuc/290 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:290:p:51-60 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/290 Template-Type: ReDIF-Article 1.0 Author-Name: Martin Makovec Title: Financial Crisis on Czech Real Estate Market Abstract: This paper describes the situation in which can be currently found developers on the Czech real estate market. The article focuses on analysis of four fundamental phenomena that simultaneously take place. Meaning impacts of the sub-prime mortgage crisis that started in United States of America, strengthening of the Czech crown, increase of build costs and an increase of real estate yield, through which most of the real estate projects are being evaluated. The described phenomena are illustrated on a model example of a project. Keywords: Financial crisis, Finanční krize, Real Estate Market, Developer, Realitní trh, Developer Classification-JEL: R33 Pages: 61-72 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=291.pdf File-URL: http://www.vse.cz/cfuc/291 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:291:p:61-72 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/291 Template-Type: ReDIF-Article 1.0 Author-Name: Milan Hrdý Author-Name: Denisa Plachá Title: Accounting Systems in Czech Lands since the 18th Century by Present Abstract: The development of the history of accounting methods in Czech Lands is certainly interesting and informative and we can see that its organization has always enjoyed high standard. What is clear from the development is the fact that accounting has always reflected the atmosphere of the time and it adopted itself to the economic and political influences. The great development of accounting began within the period of Emperor Marie-Theresia in the 18th century. In the 18th and 19th century an accuracy and exactness were featured, which were very typical for this period. The emphasis was laying on the honesty and the exactness of expression and the ability to vindicate business in face of external world and be able to measure up the state of property and liabilities in each moment. This article aims to define and describe individual accounting systems used in Czech Lands in the 18th and 19th century and to identify their fundamental components, principles and methods related with actual shape of accounting. Keywords: History of Accounting, Historie účetnictví, Dopic Accounting, Cameralistic Accounting, Dopické účetnictví, Kameralistické účetnictví Classification-JEL: M41, N43 Pages: 73-79 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=292.pdf File-URL: http://www.vse.cz/cfuc/292 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:292:p:73-79 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/292 Template-Type: ReDIF-Article 1.0 Author-Name: Monika Randáková Title: Bankruptcy and Ways of Bankruptcy Solution in the Czech Republic according to New Legislation Abstract: The solution of emergent (urgent) crisis of enterprises in the Czech Republic was very discussed and controversial topic in the last few years. Actual discussion among the professionals (mainly lawyers and economists) and the general public ended in adoption of a new legislation based on US Bankruptcy Act amended by experience in application of this act in Germany and Austria. The result of emergent (opened) crises is above all the lower competitiveness, decrease in productivity, decrease in employment, corrupted suppliercustomer relations because of the insolvency. At the beginning of the period, it is mainly secondary/dependable insolvency, which can sooner or later result in primary insolvency and therefore it causes the heavy indebtedness of a company. The insolvency and heavy indebtedness of a company are the exact elementary signs of liquidation and therefore necessary condition for filing of draft for solving the crises by action at the court. If it is found out from objective reasons that the company goes bankrupt, one of the following solutions of this bankruptcy (based on new legislation) has to be chosen - bankruptcy, reorganization or discharge from debts. The aim of this article is to inform about the new regulation of bankruptcy and about possible ways of bankruptcy solution in the Czech Republic. Keywords: Bankruptcy, Insolvency proceedings, Reorganization, Discharge from debts, Úpadek dlužníka, Insolvenční řízení, Konkurz, Reorganizace, Oddlužení Classification-JEL: G33, M41 Pages: 80-88 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=293.pdf File-URL: http://www.vse.cz/cfuc/293 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:293:p:80-88 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/293 Template-Type: ReDIF-Article 1.0 Author-Name: Jaroslava Roubíčková Title: Question Marks over Foreign Entities Abstract: The article deals with the issue of foreign entities that are established abroad by the founder in the form of an ownership link. These foreign entities, which are the subject of this article, are because of different juridical definition not always designated by the same name, e.g. “Permanent Business Premises” according to the Czech law (tax aspects) or Organizational Organ (definition following from the Czech Business law). In practice, mentioned foreign entities apply different approaches when they handle keeping ordinary accounting at the seat of the foreign entity or when it is viewed from the perspective of the founder, who includes that entity, which is a part of his accounting reports, in his accounting. The article poses a lot of questions linked to the accounting of foreign entities in a situation of the absence of a concrete regulation of the accounting methodology. Keywords: Foreign entity, Foreign operation, Foreign exchange difference, Zahraniční jednotka/subjekt, Zahraniční činnost, Kursové rozdíly Classification-JEL: M41 Pages: 89-96 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=294.pdf File-URL: http://www.vse.cz/cfuc/294 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:294:p:89-96 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/294 Template-Type: ReDIF-Article 1.0 Author-Name: Pavel Marinič Title: Value Based Management and Financial Plan Abstract: The one of many indicators’ in measurement of the financial efficiency is finally value of firm. By process of financial planning have to be main target’s estimated qualitative and quantitative so, that the value of firm on the end of planning’s period will be higher than on the beginning of this period. For measurement is possible to use the tools of value management. Keywords: Controlling, Controlling, Ekonomická přidaná hodnota, Hodnota firmy, Economic Value Added, Financial planning process, Value of firm, Intrinsic value, Value based management, Finanční plánování, Hodnotový management, Vnitřní hodnota firmy Classification-JEL: G30 Pages: 97-103 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=295.pdf File-URL: http://www.vse.cz/cfuc/295 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:295:p:97-103 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/295 Template-Type: ReDIF-Article 1.0 Author-Name: Petr Marek Title: Financial Crises and Previous Lax Interest of Theorists Abstract: The article disputes against analysis of R. W. Bostic and K. O. Lee concentrated on federal homeownership strategy for building among low- and moderate-income families in the U.S.A. Authors find out emergency which is coming from new and more sophisticated mortgages However, in conclusion, they built on support from Fannie Mae and Freddie Mac. Both these institutions were put under the conservatorship on September, 2008. Keywords: Finanční krize, Financial Crises, Mortgages, Households, Low- and Moderate-Income Families, Hypotéky, Domácnosti, Nízko a středně příjmová skupina obyvatelstva Classification-JEL: D10, G01, G21 Pages: 104-107 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=296.pdf File-URL: http://www.vse.cz/cfuc/296 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:296:p:104-107 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/296 Template-Type: ReDIF-Article 1.0 Author-Name: Václav Černý Title: Inter-disciplinary Character of Social Sciences Abstract: The Article is disputation on the article “Disciplines of Social Sciences: Separation or Cooperation?” which was published in the journal Politická ekonomie 1/2008. It is not the disputation to all intents and purposes, but more the supplementation and enlargement of the previous article to the area of accounting and financial management. The emphasis is placed on the extension of the inter-disciplinary access to the social sciences. It is perceived as the impulse to the muse on labor-style. Keywords: Ekonomie, Economy, Inter-disciplinary character, Social Sciences, Interdisciplinární charakter, Společenské vědy Classification-JEL: P2, P3, P5 Pages: 108-111 Volume: 2008 Issue: 4 Year: 2008 File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=297.pdf File-URL: http://www.vse.cz/cfuc/297 File-Format: text/html Handle: RePEc:prg:jnlcfu:v:2008:y:2008:i:4:id:297:p:108-111 X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/297