Czech Financial and Accounting Journal, 2008 (vol. 2008), issue 3

Jak dál při tvorbě IFRS?

Ladislav Mejzlík

Český finanční a účetní časopis 2008(3):4-5 | DOI: 10.18267/j.cfuc.275  

Financial Statement of Micro-enterprises: Continually Open Question

Dana Kovanicová

Český finanční a účetní časopis 2008(3):6-19 | DOI: 10.18267/j.cfuc.276  

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...

Model of Deferred Advantage or Disadvantage from Reinvestment - Methodical Problems

Petr Marek

Český finanční a účetní časopis 2008(3):20-26 | DOI: 10.18267/j.cfuc.277  

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...

Budgeting and Invoicing of Building Investments

Josef Valach

Český finanční a účetní časopis 2008(3):27-38 | DOI: 10.18267/j.cfuc.278  

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.

On the Properties of Transfer Pricing Rules

Tomáš Buus, Jaroslav Brada

Český finanční a účetní časopis 2008(3):39-55 | DOI: 10.18267/j.cfuc.279  

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)...

Microsimulation Model for Distributional Analysis of Consumption Taxes

Stanislav Klazar, Martin Zelený

Český finanční a účetní časopis 2008(3):56-68 | DOI: 10.18267/j.cfuc.280  

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...

Effect of Exchange Rate Differences Relating to Receivables and Payables in Consolidated Financial Statement

Marie Zelenková

Český finanční a účetní časopis 2008(3):69-80 | DOI: 10.18267/j.cfuc.281  

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.

Provisions - Automatic Ensuring Sufficient Cash or Not

Václav Černý

Český finanční a účetní časopis 2008(3):81-85 | DOI: 10.18267/j.cfuc.282  

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.

Partial versus Integrated Conception of Intellectual Property for Asset Valuation

Jan Jurečka

Český finanční a účetní časopis 2008(3):86-93 | DOI: 10.18267/j.cfuc.283  

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...