Template-Type: ReDIF-Article 1.0
Author-Name: Michal Kováč
Title: Methods for determining the amount of Loan Loss Provisions
Abstract: This paper deals with theme methods for determining the amount of Loan Loss Provisions (LLP). The most common methods for determining the amount of loan loss provisions used by credit institutions include Roll Rates and Markov’s chains methods. This paper aims to show and explain the steps leading to the determining the amount of loss loan provisions for credit losses using mentioned methods and to define the causes of different levels of reserves for individual approaches. Roll Rates and Markov’s chains approaches are subsequently tested on two real portfolios retail clients in two different countries. Empirical tests have demonstrated significant differences confirming the theoretical assumption of different levels of loan loss provisions using Roll Rates and Markov’s chains approaches.
Keywords: Credit risk, Úvěrové riziko, Retail clients, Loan loss provision, Retail klientela, Rezerva pro úvěrové ztráty
Classification-JEL: G32
Pages: 5-25
Volume: 2016
Issue: 4
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=483.pdf
File-URL: http://www.vse.cz/cfuc/483
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:4:id:483:p:5-25
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/483

Template-Type: ReDIF-Article 1.0
Author-Name: Lukáš Poutník
Title: The consolidated group definition of public sector in the Czech republic and Slovakia
Abstract: The article deals with the definition of a consolidated group in the Czech Republic and Slovakia public sector. On 30 January 2015 The International Public Sector Accounting Standards Board published new standard IPSAS 35 - Consolidated Financial Statements. This standard represents a very sophisticated construction accounting axioms based on the approximation of the public sector to the private sector in the accounting consolidation field. The aim of this article is an identification and subsequent comparison of methodological elements in the consolidated group definition of public sector in the Czech and Slovak national legislative amendments in the context of IPSAS 35.
Keywords: Konsolidovaná účetní závěrka, Veřejný sektor, Konsolidační celek státu, Definice ovládání, Podnik veřejné správy
Classification-JEL: E02, H10, M41
Pages: 27-41
Volume: 2016
Issue: 4
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=484.pdf
File-URL: http://www.vse.cz/cfuc/484
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:4:id:484:p:27-41
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/484

Template-Type: ReDIF-Article 1.0
Author-Name: Jekaterina Šmídová
Title: Non-audit services provision issues and their current development
Abstract: Issues in relation to provision of non-audit services by statutory auditors to the audited entities start to be one of the most discussed topics among professionals on audit fields in 2016. The main reason which caused increase interest in these problems, is the entry into force of directive 2014/56/EU of the European Parliament and of the Council amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts and Regulation (EU) No 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC. The Czech legislation has applied wide range of changes incurred by amendment of the Act No 90/2003, Act on Auditors, that entered into force 1. 10. 2016. The aim of the article is to remind or to describe to a reader the issue of non-audit services provision by statutory auditors to the audited entities and to present changes which are caused by amending European legislation. A structure of the article is based on the articles’ goals. Initial part of the article is aimed to provide the explanation of fundamental definitions which are essential for the following explanation of the whole issue. The subsequent part summarizes opinions of opponents and proponents of the non-audit services provision. The summary contains the most popular mathematic models of auditor’s independence as well as comprehensive ethical and psychological models and arguments. The following part of the article presents the overview of changes, which were applied by amended EU legislation, practical instruction manual and the explanation of several unclear points. These should help to a reader to familiarize his behavior in the new environment.
Keywords: Audit quality, Nezávislost auditora, Kvalita auditu, Non-audit services, Auditor independence, Neauditorské služby
Classification-JEL: M42
Pages: 43-61
Volume: 2016
Issue: 4
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=485.pdf
File-URL: http://www.vse.cz/cfuc/485
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:4:id:485:p:43-61
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/485

Template-Type: ReDIF-Article 1.0
Author-Name: Jiří Rajl
Title: Macroprudential and Financial Regulation
Abstract: The paper describes the different models of organization of the financial supervision in the financial market and assesses their use. Supervision in the Czech Republic has undergone its own development, thanks to which we have witnessed both sectoral organization of the financial supervision and also its centralization under the Czech National Bank, which currently declares the shift of the model to the functional model with an emphasis on preserving and maintaining financial market stability. The post-crisis period has seen many changes under the EU supervision, reflected in particular on creating new supervisory authorities. Assessing these changes are accompanied by a self-regulatory initiatives of individual financial market participants, with an emphasis on pointing out the individual needs of clients of banks and financial institutions.
Keywords: Financial regulation and supervision, European system of financial supervision, Finanční regulace a dohled, Financial Self-regulation, Institutional Arrangement, Integration of Supervision, Macroprudential Regulation, Makroobezřetnostní politika, Finanční samoregulace, Institucionální uspořádání, Integrace dohledu, Systém evropských orgánů dohledu
Classification-JEL: E44, G18
Pages: 63-82
Volume: 2016
Issue: 4
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=486.pdf
File-URL: http://www.vse.cz/cfuc/486
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:4:id:486:p:63-82
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/486

Template-Type: ReDIF-Article 1.0
Author-Name: Dana Dvořáková
Title: IFRS 16 Leases
Abstract: This article is aimed at the analysis of the newly created standard IFRS 16 Leases. This standard has radically changed the accounting and reporting of leases by the lessee. The standard has abandoned the classification of operating and financial lease and categorically requires that the lessee report all liabilities and assets resulting from leasing contracts. It deals with the benefits as well as with the risks which the standard brings from the point of view of the declarative value of financial statements in comparison with the previous standard IAS 17 Leases.
Keywords: IFRS, Accounting, Účetnictví, IFRS, International Financial Reporting Standards, Mezinárodní standardy účetního výkaznictví, Leasing, Leases, Lessee, Nájemce
Classification-JEL: M41
Pages: 83-97
Volume: 2016
Issue: 4
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=487.pdf
File-URL: http://www.vse.cz/cfuc/487
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:4:id:487:p:83-97
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/487

Template-Type: ReDIF-Article 1.0
Author-Name: Savina Finardi
Author-Name: Michal Procházka
Title: Discussion of Methods Estimating the Tax Gap in the Czech Republic
Abstract: The aim of this paper is to discuss approaches to estimating the tax gap and to compare the results of these estimates with official estimates of the Ministry of Finance of the Czech Republic. The paper also discussed the issue of tax evasion and instruments used in fight against them, especially with regard to the new Czech legislation - registration of sales.
Keywords: Tax evasion, Tax Gap, Tax revenues, Daňová mezera, Daňové úniky, Daňové příjmy
Classification-JEL: H26
Pages: 99-108
Volume: 2016
Issue: 4
Year: 2016
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=488.pdf
File-URL: http://www.vse.cz/cfuc/488
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2016:y:2016:i:4:id:488:p:99-108
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/488