Template-Type: ReDIF-Article 1.0
Author-Name: Miloš Tumpach
Author-Name: Zuzana Juhászová
Author-Name: Zuzana Kubaščíková
Title: Implementation of the changes in accounting for the leases in accordance with IFRS 16 in the national accounting regulation in SR from the point of view of an lessee
Abstract: The article deals with the comparability of the requirements for accounting for leases as a source of a long-term financing of lessees in accordance with the IFRS and national accounting legislation in Slovakia. Even though current Slovak legislation has been inspired by the IFRS (namely, IAS 17), no full compliance has been ever achieved. The gap between national and international regulation was even widened by the introduction of the standards IFRS 16 (which came into force in 2018). Consequently, the Slovak legislation is dealing with the task of how to resolve these differences. The article compares accounting treatments of leases (from the point of view of lessees) as required by the Slovak accounting regulation for the businesses, by the former international standard IAS 17 and also by the new standard IFRS 16. It could be concluded that the national regulation is more prone to tampering the accounting principles than both the IFRS 16 and IAS 17. On the other hand, by unifying the accounting treatment to virtually all leases (for lessees), the IFRS 16 provides more consistent and sound approach. Were there not tax related issues, the accounting regulation in Slovakia has to be changed immediately.
Keywords: Leasing, Leases, IFRS 16, Slovakia, IFRS 16, Slovensko
Classification-JEL: M21, M48
Pages: 5-16
Volume: 2019
Issue: 1
Year: 2019
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=524.pdf
File-URL: http://www.vse.cz/cfuc/524
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2019:y:2019:i:1:id:524:p:5-16
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/524

Template-Type: ReDIF-Article 1.0
Author-Name: Naďa Blahová
Title: On the risk of sovereign exposures
Abstract: The article, in general terms, describes the sovereign risk and the risk of excessive concentration of sovereign exposures within the balance sheets of the banks. Based on an analysis focused on the development of this phenomenon within the given period, both in the Czech Republic and in other selected countries, the rate of effectiveness of the Czech central bank's position towards this potential source of financial instability was assessed. Mutual interconnection of the banking sector and the state is percieved as significant and potentially risky. The reasons are related to many interconnections that may adversely affect the stability of one or both sectors, in case of adverse changes, with an overlap into the real economy. The article highlights the main sections of mutual relationships between the state and the banking sector, trying to clarify them. Further, identifies the relevant sources of instability, that are being discussed.
Keywords: Central bank, Centrální banka, Financial sector, Finanční sektor, Banking sector, Bankovní sektor, Public finance, Veřejné finance, Sovereign risk, Sovereign debt, Concentration risk, Svrchované riziko, Státní dluh, Riziko koncentrace
Classification-JEL: E44, E58, E60
Pages: 17-33
Volume: 2019
Issue: 1
Year: 2019
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=525.pdf
File-URL: http://www.vse.cz/cfuc/525
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2019:y:2019:i:1:id:525:p:17-33
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/525

Template-Type: ReDIF-Article 1.0
Author-Name: Luboš Hlinovský
Title: Transparency and Application of IAS 20 by the European Air Navigation Services Providers
Abstract: The Air Navigation Service Providers (ANSP) are monopolistic companies, subject to regulation. The EU regulation 550/2004 requires that ANSP shall comply with the international accounting standards. The majority of European ANSPs draws the grants of the SESAR project. IAS 20 sets the rules for accounting for government grants. The subject of this article is transparency, obeying the rules of the EU Regulation 550/2004 and publishing the information according to IAS 20 in the years 2015-2017, when the ANSPs drew significant amounts from the government grants. The aim of the article is to research how the requirements of transparency of both legal documents are obeyed, with special regard to impact of grants to price setting of ANSPs. The annual reports of 17 ANSPs, members of A6 alliance were subject of this research. The outcomes of the research are that these rules are obeyed in quite a low extent, that the form and content of the annual reports are very diverse and thus the effects of the regulations, stemming from the programme Single European Sky is low.
Keywords: Regulation, Regulace, Dotace, Transparency, Transparentnost, Grants
Classification-JEL: M480
Pages: 51-63
Volume: 2019
Issue: 1
Year: 2019
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=526.pdf
File-URL: http://www.vse.cz/cfuc/526
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2019:y:2019:i:1:id:526:p:51-63
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/526

Template-Type: ReDIF-Article 1.0
Author-Name: Petr Vácha
Title: Revenue disclosure requirements: IFRS vs. Czech accounting principles
Abstract: The purpose of the article and related research is the comparison of the quality of revenue disclosures. For this purpose the current state of requirements for revenue disclosure in Czech accounting legislation and IFRS is outlined. In the next step the sample of financial statements was determined. The sample consisted of 10 largest Czech companies reporting under Czech accounting principles and 10 largest Czech companies reporting under IFRS, both of these based on revenue amount. The sample was reviewed from perspective of 11 evaluation criteria consisting of general revenue principles and disclosures about nature and content of revenues. The results of research preliminarily confirmed the hypothesis that the revenue disclosures in IFRS financial statements bring more information about recognition, measurement and nature of revenues than revenue disclosures in the financial statements based on Czech accounting principles. Due to the the lower size of sample the extension of sample is recommended for full confirmation of results. Nevertheless, the main issues in revenue disclosures in the financial statements of large companies indicate the areas of further focus for the Czech accounting legislation.
Keywords: IFRS, Revenue, IFRS, Výnosy, Zveřejnění, Disclosures, Czech accounting principles, České účetní předpisy
Classification-JEL: M41
Pages: 35-49
Volume: 2019
Issue: 1
Year: 2019
File-URL: http://www.vse.cz/cfuc/download.php?jnl=cfuc&pdf=527.pdf
File-URL: http://www.vse.cz/cfuc/527
File-Format: text/html
Handle: RePEc:prg:jnlcfu:v:2019:y:2019:i:1:id:527:p:35-49
X-File-Ref: http://www.vse.cz/RePEc/prg/jnlcfu/references/527