Czech Financial and Accounting Journal, 2018 (vol. 2018), issue 3
Articles
The Development of Legislation of Political Parties and Political Movements in the Czech Republic since 1991 until now with a Focus on Transparency
Marek Jošt
Český finanční a účetní časopis 2018(3):5-26 | DOI: 10.18267/j.cfuc.514 
The article analyzes the development of the political parties and political movement's legislation, which operating in the Czech Republic since 1991 until now with a focus on selected transparency criteria. The act on association in political parties and political movements of the year 1991 is analyzed, which was more than twenty times changed during its existence. Transparency is significantly affected by some changes in law. The article compares the legislation of political parties and political movements with the legislation of other non-profit organizations in the area, which is concerned with the transparency criteria. From a comparison differences...
Theoretical approaches to the presentation of expenses in the income statement
Miloslav Janhuba, Jaroslava Janhubová
Český finanční a účetní časopis 2018(3):27-40 | DOI: 10.18267/j.cfuc.515
This paper highlights the essence of ensuring revenue and expenses comparability in the income statement, with an emphasis on their factual dimension. The problem relates mainly to the presentation of costs type composition when they are necessarily adjusted for changes in the inventory of own production. The image of the cost type composition in the existence of an aggregate item "change in inventory" is somewhat deviating from the actual range of cost types that are related to the outputs sold. Correction would be possible using input-output structural model approaches centered on the valuation problem. Appropriate application requires close synergy...
Comparison of stress testing models for regulatory purposes by institutions using the IRBA method
Michal Kováč
Český finanční a účetní časopis 2018(3):41-56 | DOI: 10.18267/j.cfuc.516
This paper deals with the comparison of stress tests of institutions using the IRBA method for determining the capital requirement. Different approaches have been used to determine the values of risk parameters PD, EAD and LGD for stres test purpose. Besides the VEC model, which link risk parameters to selected macroeconomic variables, stress tests were constructed using the absolute values model, the relative change model and the VaR model, CVaR respectively. Individual approaches have been tested and compared in two levels. In the first level was stressed only the risk parameter PD, in the second level, all risk parameters were stressed. Empirical...
Genesis of behavioral economics and its applicability in public finance
Anton Vaskovskyi
Český finanční a účetní časopis 2018(3):57-77 | DOI: 10.18267/j.cfuc.517
The article is focused on genesis of behavioral economics and its applicability within public finance. Behavioral economics is being recently very popular and recognised by academic community as Nobel Prize was awarded to its promoters twice in current millennium. The document is divided in three parts, where one is devoted to overview of the theory, second contains recent trends in described theory and the last one presents case studies from United Kingdom and Poland. The theoretical part describes the basic concepts and theories in relation within historical context. The second part analyses applicability of such theory in public finance and current...
Regulation and supervision of distribution of financial products
Petr Musílek
Český finanční a účetní časopis 2018(3):79-88 | DOI: 10.18267/j.cfuc.518
This paper discusses the issue of regulation and supervision of the distribution of financial products, launched by the article by Sindelar and Erben (2017). The introductory part of the article focuses on the essential conclusions from the above article. In addition, attention is paid to deepening the analysis of regulatory objectives, especially in the area of information asymmetry. The so-called complex concept of regulation is questioned in the following part of the paper. The final part of the paper analyzes the detailed context of pension reform in form II. pillar and its impact on III. pillar of the pension system in the Czech Republic.