Czech Financial and Accounting Journal, 2016 (vol. 2016), issue 1
Articles
Quantitative Forecast of Demand for Life Insurance in CR in 2015-2018: Macroeconomic Growth versus Industry Restructuring
Jiří Šindelář
Český finanční a účetní časopis 2016(1):5-23 | DOI: 10.18267/j.cfuc.465 
The article deals with quantitative forecast of demand for life insurance in Czech Rep. in years 2015-2018. In order to derive the forecast, causal model created on behalf of OECD member states, including macroeconomic, demographic as well as social variables was utilized. As an equivalent for the demand itself, density of life insurance in population was employed. The results show that in current period of economic growth, the consumption of life insurance should increase as well; that is, however, in sharp contrast with real development in the first half-year of 2015. This contradiction is probably a consequence of changes in insurance distribution,...
Analysis of payment protection insurance on the Czech consumer credit market
Mária Oborilová, Libor Coufal
Český finanční a účetní časopis 2016(1):25-47 | DOI: 10.18267/j.cfuc.466
The article is focused on insurance products related to the indebtedness of Czech households in the area of consumer loans. The aim of this paper is, with the help of defined assumptions, to analyse the product payment protection insurance, its benefit to the final client and identify its appropriate use in the event of an economically rationally behaving entity. The authors analyse insurance conditions and define the pros and cons of insurance for supply-side and demand-side, and also focuses on information asymmetry. For completeness, the text is supplemented also in terms of cost of insurance, through the APR and development of acquisition costs...
Fair Value: Differences in approach to the value under financial accounting and asset valuation
Roman Čibera
Český finanční a účetní časopis 2016(1):49-65 | DOI: 10.18267/j.cfuc.467
For the purpose of transparency and repeatability, a standardization of processes in financial accounting and assets valuation is a long-term trend. The process of standardization within both of these fields takes place relatively separately, which causes some problems. One of possible problems is that within different standards the same terms are defined in different ways. Just one such an example is more deeply examined in this text. The difference of the definition of fair value within IFRS and IVS being used in practice can lead to a lot of misunderstandings. This text compares the approach to the fair value within both of the standards, points...
Financial records as a valid standard during the period 1953-1965
Jan Mikeš
Český finanční a účetní časopis 2016(1):67-82 | DOI: 10.18267/j.cfuc.468
The article describes the financial records system, which was legal accounting system in Czechoslovakia according to available sources during the period 1953 - 1965 (its implementation was carried out from 1951). The article seeks identical and different elements with today's accounting system, while trying to rehabilitate that period, at least in terms of the accounting system. The aim of this article is an introduction into one of the previously used accounting systems. The used method is a critical analysis of the law and logic offpf the accounting system of the time (based on searches from available sources, esp. contemporary trade press). The...
The crime and the rationality in the area of tax evasions and tax arrears
Tomáš Kouba
Český finanční a účetní časopis 2016(1):83-97 | DOI: 10.18267/j.cfuc.469
This article explains behavior of fiscal deceiver who is aversive to a risk as rational and economic behavior. This fiscal deceiver contemplates and costs against possible utility during the tampering of the law (tax) standards. Within this article is the decision making of the fiscal deceiver demonstrated in four simple model examples. The main objective of this paper is to show by using model examples the behavior of individuals at risk in the context of paying taxes and to draw appropriate measures from these examples to increase tax collection (thus reducing the advantages of tax evasion and increase its detection). As an appropriate and effective...
Account with basic features - risk or benefit?
Otakar Schlossberger
Český finanční a účetní časopis 2016(1):99-116 | DOI: 10.18267/j.cfuc.470
On 23 July 2014, European Parliament and Council Directive 2014/92/EU on the comparability of fees related to payment accounts, payment account switching and access to payment accounts with basic features (hereinafter the "Directive") was published in the Official Journal. The transposition of the Directive into national laws and regulations of member states should result in the improvement of the harmonization of legal environment in the field of retail banking. The main aim of this paper is to characterize the Directive and determine through the methods of deduction and analysis, whether the selected banks in the Czech Republic are already prepared...