Czech Financial and Accounting Journal, 2015 (vol. 2015), issue 1

Kam kráčíš, Evropo?

Petr Marek

Český finanční a účetní časopis 2015(1):4-5 | DOI: 10.18267/j.cfuc.433  

BRICS: Interconnection of Exchange Rate, Balance of Payments and Foreign Exchange Reserve - the Example of India

Jaroslava Durčáková, Ondřej Šíma

Český finanční a účetní časopis 2015(1):6-35 | DOI: 10.18267/j.cfuc.434  

The article deals with the exchange rate policy of India in the period 1999-2013. The first part informs about specificity of Indian economy. These features (apart from the Great recession) have brought Indian economy to sluggish growth after 2010. Next part is concentrated on Indian exchange rate policy and forex exchange market. The last part scrutinizes Indian balance of payments. It pays attention to widening current account deficit till 2012. Moreover, the current account deficit has been financed primarily by debt for approximately last five years.

Volatility Effect: An Application on the German Stock Market

Jan Bastin

Český finanční a účetní časopis 2015(1):36-54 | DOI: 10.18267/j.cfuc.435  

The analysis demonstrates parameters of ten portfolios formed by ranking historical risk in the period 1999-2000 on the German stock market. Low volatility portfolios (or low beta portfolios) are able to have similar returns/outperform the market with lower risk. The performances of high volatility portfolios are poor relative to the market. Similar results are present on risk-adjusted basis.

Q-Test DMFCA as a Possible Quick Way of Checking Accounts and Business Activities in the Enterprise

Jindřiška Kouřilová

Český finanční a účetní časopis 2015(1):55-69 | DOI: 10.18267/j.cfuc.436  

To identify errors, fraud and creative accounting can be used several groups of instruments, ranging from methods based on legislation, ethics, to mathematical models. In this paper, we bring a draft of the quick detection model Q-DMFCA (Quick Detection Model Flow Cost Accounting). It is based on environmental accounting, using its records and consists of balances: material as a basic; in another financial balance and legal. The model was applied in two enterprises, there were evaluated the strengths and weaknesses of the proposed model. The further processing should be focused on the impact on sales margin, comparison to other models and audit options...

Financial due diligence

Jekaterina Šmídová

Český finanční a účetní časopis 2015(1):70-84 | DOI: 10.18267/j.cfuc.437  

This article is focused on the process of implementation of due diligence. It goal is to define briefly general issue and describe in detail basic points of the screening. The basic part of the article is aimed to key points of the process of due diligence and notify steps which should be paid to attention. Because of the Czech written literature and articles don´t pay such an attention to adjustments, which are performing in financial statements and have an impact to transaction price negotiation and exposure of the risks, the article describe adjustments of balance sheet items.

Disclosures in Accordance with IAS 24 (Related Parties)

Lenka Nováková, Martin Polák

Český finanční a účetní časopis 2015(1):85-99 | DOI: 10.18267/j.cfuc.438  

The main reason for the existence of this standard is to ensure that an entity to disclose in its financial statements all relevant information about related parties. The reporting entity should point out "the possibility that its financial position and profit or loss is affected by the existence of related parties and transactions and outstanding balances, including commitments, with such parties." This article analyzes the published annual reports on the CNB website. The research is divided into banking and non-banking sector, where for each sector were three research questions. Finally, we can state that the requirement of IAS 24 disclosures under...

Requirements for the Professional Competences of Controllers in the Czech Republic: Empirical Study

Bohumil Král, Libuše Šoljaková

Český finanční a účetní časopis 2015(1):100-116 | DOI: 10.18267/j.cfuc.439  

The article describes the outcomes of the project whose purpose is - on the basis of the "Draft for a Common Statement" - to state generally accepted requirements for the professional competence of managerial accountants and controllers. The paper concludes that, despite the fact that Draft is only the first step, it brings substantial contributions: it has led to a better understanding of the differences which accompany this profession's development in different parts of globe. It enables better identification of common features, but also differences in profiles and professional orientations of professional accountants, auditors and professional accountants...