Template-Type: ReDIF-Article 1.0
Author-Name: Eva Gajdošová
Title: Development of redistribution in the Czech Republic between years 2004-2014
Abstract: The aim of this paper is to find out how the tax-benefit system in the Czech Republic contributed to progressivity of income distribution between years 2004 and 2014. Analysis was done by comparing Lorenz curves, Gini coefficient and index of effective progressivity. Indicators were designed for different income situations caused by taxation, social insurance and social incomes. It was found, that setting of the tax-benefit system progressively affected the distribution of household incomes. Level of progression had constant values. The most important tools are in a long-term period social incomes (pensions and welfare benefits) and taxes, which can be reasonably regarded as a progressive factor especially in case of using a tax bonus.
Keywords: Redistribution, Redistribuce, Gini coefficient, Lorenz curve, Gini koeficient, Progresivita, Lorenzova křivka, Progressivity
Classification-JEL: H23, H53, I30
Pages: 5-24
Volume: 2016
Issue: 3
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=477.pdf
File-URL: http://www.vse.cz/cfuc/477
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:3:id:477:p:5-24
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Template-Type: ReDIF-Article 1.0
Author-Name: Martin Dvořák
Title: The rate of implementation of accrual based accounting in the EU public sector
Abstract: The article deals with the extent of using of accrual based financial reporting in public sector of EU member states. The extent is expressed by the number of member states on the one hand and monetarily through budgetary expenditure on the other hand. Besides, the article describes the current attitude and actions of European institutions to introduce the accrual basis in the public sector at EU level. At the same time the article discusses the specific possibilities of implementation of accrual based accounting with the emphasis on introducing the principles based on International Public Sector Standards (IPSAS).
Keywords: IPSAS, IPSAS, Municipalities, Central government, Accounting basis, Státní správa, Samospráva, účetní báze
Classification-JEL: H83, M41, M48
Pages: 25-37
Volume: 2016
Issue: 3
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=478.pdf
File-URL: http://www.vse.cz/cfuc/478
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:3:id:478:p:25-37
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Template-Type: ReDIF-Article 1.0
Author-Name: Libuše Müllerová - Marek Jošt
Title: Entry into the audit profession in the context of legislative changes
Abstract: In the introduction, the article summarizes legislative development in the area of the entry into the audit profession in the Czech Republic in the years 1993 - 2015 with particular emphasis on exams recognition of Chamber of Auditors of the Czech Republic in relation to other professional and educational institutions, especially in relation to public higher education institutions. In the following parts of the article, the history of the Chamber is mentioned, the examination system, its development and the rules for recognition of examinations passed in other professional and educational institutions are described in detail. The most significant organizations the Chamber cooperates closely with are described briefly. The article includes a short comparison of conditions of entry into the audit profession with other countries. In conclusion, the article analyzes if mitigation of the requirements for candidates for the audit profession has led to increase in attractiveness of the profession in the form of increase of the number of applications for exams recognition and the number of auditors registered by the Chamber, especially after the amendment to the Auditors Act 2009.
Keywords: Audit, Audit, Audit examination, Chamber of Auditors, Recongnition of exams, Auditorská zkouška, Komora auditorů, Uznávání zkoušek
Classification-JEL: M42
Pages: 39-56
Volume: 2016
Issue: 3
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=479.pdf
File-URL: http://www.vse.cz/cfuc/479
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:3:id:479:p:39-56
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Template-Type: ReDIF-Article 1.0
Author-Name: Michal Šindelář
Title: Rotation of auditors of companies listed on the stock market of the Prague Stock Exchange
Abstract: The aim of the article is to analyze the internal and external rotation of auditors on the stock market of Prague Stock Exchange. The analysis is made between the years 2011 - 2015 and is based on a total of 107 annual reports of listed companies. The annual report must contain the auditor's report for the period. Rotation of auditors is recently frequent topic of international research because of the new European regulation of the audit market. Following these international research this article contains the analysis of the Czech capital market. Data shows that on the Czech capital market there are fairly frequent changes of audit firms and key audit partners due to the number of listed companies. The analysis also shows the growing influence of the Big 4 companies (KPMG, Deloitte, PwC and EY (Ernst & Young)) in the number of audits carried out.
Keywords: Burza cenných papírů Praha, External rotation, Oligopoly structure on audit market, Prague Stock Exchange, Interní rotace auditora, Externí rotace auditora, Oligopol na auditorském trhu, Internat rotation
Classification-JEL: M42
Pages: 59-71
Volume: 2016
Issue: 3
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=480.pdf
File-URL: http://www.vse.cz/cfuc/480
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:3:id:480:p:59-71
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Template-Type: ReDIF-Article 1.0
Author-Name: Jitka Veselá - Lucie Neubauerová
Title: Do investors suffer behavioral biases when deciding?
Abstract: The concept of individual rationality had been crucial in financial theory. The proponents of behavioral finance argue that investors act irrationally, resulting in financial market distortions, which are not spontaneously corrected. This paper focuses on behavioral biases representing and describing the violation of fundamental axioms of rationality in the investor behavior. Using a questionnaire survey, this article examines the investor’s six most common behavioral biases, their impact on the individual decision-making process and in the end formulates recommendations to eliminate their influence.
Keywords: Behavioral finance, Behaviorální finance, Prospect Theory, Behavioral biases, Prospect teorie, Behaviorální předsudky
Classification-JEL: G02, G11
Pages: 73-87
Volume: 2016
Issue: 3
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=481.pdf
File-URL: http://www.vse.cz/cfuc/481
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:3:id:481:p:73-87
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Template-Type: ReDIF-Article 1.0
Author-Name: Iris Šimíková
Title: Simple accounting versus tax records
Abstract: The aim of the contribution is to identify and characterize the requirements for keeping information databases of simple accounting and tax records in 2016. The analysis and comparison methods made it possible to formulate the findings and conclusions. Both databases have gone through the stages of development, stagnation and reduction since they were introduced into the Czech legislation. Simple accounting was initially a part of the national accounting system. Its abolition from 2004 onwards was one of the consequences of the accession of the Czech Republic to the European Union. By being restored in 2016, simple accounting did not return to the position of an accounting system. It is intended for an accounting entity which is not VAT registered, whose total income does not exceed CZK 3 million, the value of its assets does not exceed CZK 3 million, and it must be one of the enumerated non-profit organizations. Tax records became a part of the Czech legislation in 2004, when they replaced simple accounting for natural persons. Tax records are intended only for natural person entrepreneurs, who are not accounting entities. For small non-profit organizations, an information database was created, not a fully-fledged accounting system, as the name might suggest. The newly arranged structure of accounting decreases its reliability since it is missing complex information. If simple accounting is to be retained, it is necessary to add duties, so that it is unequivocally differentiated from tax records.
Keywords: Accounting Entity, Účetní jednotka, Non-Profit Organization, Nezisková organizace, Simple accounting, Tax Records, Natural person, Účetnictví jednoduché, Daňová evidence, Fyzická osoba
Classification-JEL: M41, M48
Pages: 89-104
Volume: 2016
Issue: 3
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=482.pdf
File-URL: http://www.vse.cz/cfuc/482
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:3:id:482:p:89-104
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/482