Czech Financial and Accounting Journal, 2017 (vol. 2017), issue 4

Articles

The Development of Legislation of Foundations in the Czech Republic since 1990 until now with a Focus on Transparency

Marek Jošt

Český finanční a účetní časopis 2017(4):5-23 | DOI: 10.18267/j.cfuc.502  

The article analyzes the development of the foundation's legislation since 1990 until now. This period is divided into four phases depending on the effectiveness of individual legislation. Special emphasis is placed on the transparency elements contained in the individual legislation. The article compares the analyzed legislation to show their advantages and disadvantages. The article also mentions the researches dealing with the transparency of Czech foundations in the past. These researches show a low level of transparency of Czech foundations and low confidence in their activities. The Act on Foundations and Endowment Funds can be considered the...

Capital Structure of Czech joint stock companies

Lucie Poulová

Český finanční a účetní časopis 2017(4):25-39 | DOI: 10.18267/j.cfuc.503  

This article is aimed at the analysis of capital structure of joint stock companies based in the Czech Republic operating in agriculture, industry and building, using the basic principles and ratios of financial analysis. The levels of debt ratio are judged not only according to industry classification but also according to the type of ownership. In the next step, the relationship between leverage and profitability is closely explored since it is thought to be one of the main determinants. Lastly, the liquidity is analysed as a characteristic of short term financial management. The results show that the level of leverage does not change significantly...

Financial theory approach to the investigation of the impact of Basel III capital adequacy on commercial banks

Petr Pavlík

Český finanční a účetní časopis 2017(4):41-56 | DOI: 10.18267/j.cfuc.504  

The aim of this paper is to summarize results of modern investigation of Basel III impact. In order to do so, the author has analyze methodology of more than thirty studies focused on the impact of increased capital adequacy, adopted under Basel III framework, on the lending activity of commercial bank. The paper presents main methodology within both macro and microeconomic approach. Complex macroeconomic models simulate impact of increased bank's equity on profit function of the bank considering at the same time changes of total risk weigheted assets or banks' balance structure. Within the microeconomic approach, the paper puts emphasis on CAPM, as...

The Level of Creative Accounting in the Practice of Czech Accounting Entities

Mariana Peprníčková, Lucie Jandová

Český finanční a účetní časopis 2017(4):57-86 | DOI: 10.18267/j.cfuc.505  

The paper provides overview of existing foreign research in creative accounting in practice over last five years and perform own research to evaluate form and level of use of creative accounting methods in practice in Czech Republic. The questionnaire survey focuses on accountants, controllers, financial managers and other financial professions. The survey shows that the most extensive application is a choice of the depreciation and valuation methods, use of estimated items and accruals, leases or provision of loans between related parties. In general, techniques focus more on items of income statement and cash flow and less on balance sheet items....