Czech Financial and Accounting Journal, 2016 (vol. 2016), issue 4

Articles

Methods for determining the amount of Loan Loss Provisions

Michal Kováč

Český finanční a účetní časopis 2016(4):5-25 | DOI: 10.18267/j.cfuc.483  

This paper deals with theme methods for determining the amount of Loan Loss Provisions (LLP). The most common methods for determining the amount of loan loss provisions used by credit institutions include Roll Rates and Markov's chains methods. This paper aims to show and explain the steps leading to the determining the amount of loss loan provisions for credit losses using mentioned methods and to define the causes of different levels of reserves for individual approaches. Roll Rates and Markov's chains approaches are subsequently tested on two real portfolios retail clients in two different countries. Empirical tests have demonstrated significant...

The consolidated group definition of public sector in the Czech republic and Slovakia

Lukáš Poutník

Český finanční a účetní časopis 2016(4):27-41 | DOI: 10.18267/j.cfuc.484  

The article deals with the definition of a consolidated group in the Czech Republic and Slovakia public sector. On 30 January 2015 The International Public Sector Accounting Standards Board published new standard IPSAS 35 - Consolidated Financial Statements. This standard represents a very sophisticated construction accounting axioms based on the approximation of the public sector to the private sector in the accounting consolidation field. The aim of this article is an identification and subsequent comparison of methodological elements in the consolidated group definition of public sector in the Czech and Slovak national legislative amendments in...

Non-audit services provision issues and their current development

Jekaterina Šmídová

Český finanční a účetní časopis 2016(4):43-61 | DOI: 10.18267/j.cfuc.485  

Issues in relation to provision of non-audit services by statutory auditors to the audited entities start to be one of the most discussed topics among professionals on audit fields in 2016. The main reason which caused increase interest in these problems, is the entry into force of directive 2014/56/EU of the European Parliament and of the Council amending Directive 2006/43/EC on statutory audits of annual accounts and consolidated accounts and Regulation (EU) No 537/2014 of the European Parliament and of the Council of 16 April 2014 on specific requirements regarding statutory audit of public-interest entities and repealing Commission Decision 2005/909/EC....

Macroprudential and Financial Regulation

Jiří Rajl

Český finanční a účetní časopis 2016(4):63-82 | DOI: 10.18267/j.cfuc.486  

The paper describes the different models of organization of the financial supervision in the financial market and assesses their use. Supervision in the Czech Republic has undergone its own development, thanks to which we have witnessed both sectoral organization of the financial supervision and also its centralization under the Czech National Bank, which currently declares the shift of the model to the functional model with an emphasis on preserving and maintaining financial market stability. The post-crisis period has seen many changes under the EU supervision, reflected in particular on creating new supervisory authorities. Assessing these changes...

IFRS 16 Leases

Dana Dvořáková

Český finanční a účetní časopis 2016(4):83-97 | DOI: 10.18267/j.cfuc.487  

This article is aimed at the analysis of the newly created standard IFRS 16 Leases. This standard has radically changed the accounting and reporting of leases by the lessee. The standard has abandoned the classification of operating and financial lease and categorically requires that the lessee report all liabilities and assets resulting from leasing contracts. It deals with the benefits as well as with the risks which the standard brings from the point of view of the declarative value of financial statements in comparison with the previous standard IAS 17 Leases.

Discussion of Methods Estimating the Tax Gap in the Czech Republic

Savina Finardi, Michal Procházka

Český finanční a účetní časopis 2016(4):99-108 | DOI: 10.18267/j.cfuc.488  

The aim of this paper is to discuss approaches to estimating the tax gap and to compare the results of these estimates with official estimates of the Ministry of Finance of the Czech Republic. The paper also discussed the issue of tax evasion and instruments used in fight against them, especially with regard to the new Czech legislation - registration of sales.