Czech Financial and Accounting Journal, 2009 (vol. 2009), issue 3
Introduction
Věda jako smysl života
Petr Marek
Český finanční a účetní časopis 2009(3):4-5 | DOI: 10.18267/j.cfuc.32 
Vážení čtenáři, Český finanční a účetní časopis se hrdě pyšní přívlastkem "vědecký". Dovolte mi proto položit si otázku, zda lidé vůbec touží po vědě. Většina z nás pravděpodobně odpoví, že ano. Od lékařské vědy očekáváme nové léky na staré i nové nemoci, od technického výzkumu si slibujeme nové vynálezy zpříjemňující práci a osobní život, bádání zemědělců by mělo zachránit lidstvo od hladu a poznatky přírodních věd od zkázy globálního oteplování.1 Ale co lidstvo očekává od společenských věd, a od ekonomické vědy zvláště! Přiznejme si, že většina lidí od našeho výzkumu neočekává vůbec nic. Kdysi jsem se chtěl pochlubit před svými přáteli z lékařského...
Articles
Export Investment Units Financing
Jaroslava Durčáková, Josef Valach
Český finanční a účetní časopis 2009(3):6-23 | DOI: 10.18267/j.cfuc.33
Typical requirements for investment units export financing are high capital, specialized financing and export banks that are associated with insurance agencies. Investment units export financing is often accompanied with various long term investment risks and payment risks. Foreign exchange exposure and risk are relatively low in comparison with the other risks. Common alternatives of export investment units export financing are supplier and customer long term credits, project financing, export financial leasing, and pre-export financing. The majority of countries have national systems of export promotion by means of special export banks and securing...
Optimal Taxation - Review of Theory
Květa Kubátová
Český finanční a účetní časopis 2009(3):24-36 | DOI: 10.18267/j.cfuc.34
The overview article provides information on the status of the theory of optimal taxation. The aim was to provide an overview of the latest research in particular in the field of optimal taxation, to allow the survey to provide inspiration to the creation and application of models for the purpose of tax reform in the Czech Republic. Finding the optimal tax is balancing between tax efficiency and tax equity. The starting point for the current theory are the classical models of Ramsey (1927), Mirrlees (1971), Diamond and Mirrlees (1971), possibly a newer contribution of Atkinson and Stiglitz (1987). Current models of optimal taxation extend knowledge...
Financial Analysis of Debt Influence on Profitability and Value of Enterprise
Jaroslava Holečková
Český finanční a účetní časopis 2009(3):37-48 | DOI: 10.18267/j.cfuc.35
This paper focused on detailed relationship between profitability, financial performance and financing by debt. The structure of capital resources, the level of debt, in particular, and the costs of individual financial resources represent the most important factors influencing profitability and firm´s value belong to the most significant steps in financial decision making. The task for financial analysis is to explore if debt was profitable or not, using following criteria of advantageous use of debt (equity multiplier, interest margin, financial leverage index, degree of financial leverage). The level of debt is considered the main factor of financial...
Revaluation in Czech Financial Accounting and Legal Merger
Hana Vomáčková
Český finanční a účetní časopis 2009(3):49-56 | DOI: 10.18267/j.cfuc.36
Czech standards for accounting solution conversions entities would have had restrict inconsistency actual regulation that the leads to uncontrolled right election, especially on base Czech accounting standards. Have had would more revere presumption perfection matter - fact content before law form operation, further presumption prudence and concept of true and fair view presentation.
"Quality" Income from in Operating Activities under Czech Accounting Legislation
Václav Černý
Český finanční a účetní časopis 2009(3):57-66 | DOI: 10.18267/j.cfuc.37
Paper is focused on assessing the extent to which its income from operations of business entities under national accounting legislation in force in the general definition of Czech Republic earnings under international accounting standards IAS/IFRS. Is accompanied by a comparative study based on differences in reporting of selected items according to International accounting standards IAS/IFRS in comparison with the national accounting legislation Czech Republic.
Organic Balance Theory by Fritz Schmidt (1882 - 1950)
Miloslav Janhuba
Český finanční a účetní časopis 2009(3):67-72 | DOI: 10.18267/j.cfuc.38
The paper remembers the 85th anniversary of the publication: "Bilanzwert, Bilanzgewinn und Bilanzumvertung" [Valuation and revaluation for balance sheet, the profit in financial balance] by professor Fritz Schmidt, printed in Leipzig (Germany) 1924. This book contains the principles of Schmidt's organic balance theory together with contemporary cardinal theories for balancing, which works in big inflation environment in Germany at first third of 20th century.
Impact of EC Directive on Disclosure of Accounting Information for Small and Medium-Sized Companies
Marcela Žárová
Český finanční a účetní časopis 2009(3):73-77 | DOI: 10.18267/j.cfuc.39
The objective of the Directive issued on June 18, 2009 is to reduce administrative burdens relating to certain disclosure requirements imposed on medium-sized companies and obligation to draw up consolidated financial statement for certain companies within the Community. Small and medium-sized companies are often subject to the same rules as larger companies, but their specific accounting needs have rarely been assessed. Extensive reporting rules create a financial burden and can decrease the use of capital for productive purposes. There is also need to clarify the relationship between the accounting rules for consolidation required by Directive 83/349/EEC...
In Memoriam of Professor Sojka
Jitka Koderová
Český finanční a účetní časopis 2009(3):78-81 | DOI: 10.18267/j.cfuc.40
On the 22nd of May, 2009 professor Milan Sojka, the external co-operator of the Department of Monetary Theory and Policy, died. He had been the head of the Department of the Institutional Economics at the Institute of Economic Sciences of the Faculty of Social Sciences of the Charles University and the head of the Institute of Economics at the Mendel University of Agriculture and Forestry in Brno. He was one of the most significant contemporary theoreticians and historians in the field of the history of economic theories. He was a well known specialist in the area of the contemporary development of economic theory. He helped very significantly to describe...
Conclusions of International Conference Impact of Global Crisis on Performance Management
Michal Menšík, Jakub Stránský
Český finanční a účetní časopis 2009(3):82-86 | DOI: 10.18267/j.cfuc.41
From the 16th through 18th September 2009, the Department of Management Accounting held an international conference. Topics discussed were aimed on performance management, conceptual questions and practical experience. These topics are very frequent subject of interest of the researchers through the world as well as of the practically oriented professionals. Through the conference there have been two groups of papers. First group presented more broadly oriented papers, focused on designing basic principles and linking present level of knowledge. Second group offered space for the practical experience of the professionals from practical viewpoint and...
Firm Strategic Thinking and its Informational Support
Bohumil Král
Český finanční a účetní časopis 2009(3):87-90 | DOI: 10.18267/j.cfuc.42
The aim of the paper is to evaluate contentual benefit of the newly-issued book of Libuše Šoljaková "Strategic Management Accounting"- The paper concludes the book is not only an updated version of her first outcome but it incorporates new managerial tendencies, especially necessity of interdisciplinary top-view, multidimensionality of management, integrity of all substantial aspects of management and inter-relations of user and processing sides of strategic oriented information system which must be taken into consideration by implementing such system.