Czech Financial and Accounting Journal, 2019 (vol. 2019), issue 4

Articles

How Czech companies comply with the disclosure requirements of IAS 36

Pavel Huňáček

Český finanční a účetní časopis 2019(4):5-14 | DOI: 10.18267/j.cfuc.536  

This paper focuses on disclosure requirements relating to international accounting standard IAS 36 Impairment of assets. The focus of the analysis is, except mandatory disclosure, also on its potential impacts on market liquidity and investment decisions especially of smaller investors. The data analyzed in areas relating to information about impairment of goodwill, property, plant and equipment and investments in subsidiaries belongs to publicly traded companies on the Prague Stock Exchange from 2015-2017. The results of the investigation confirmed the continuation of historically found non-compliance with information obligations and identified this...

Factor affecting the cost of borrowed capital from the perspective of the appraiser

Lucie Rudolfová

Český finanční a účetní časopis 2019(4):15-30 | DOI: 10.18267/j.cfuc.537  

The subject of the paper is a qualitative analysis of factors that have an impact on the costs of borrowed capital. These are potentially useful factors in estimating the cost of borrowings for business valuation purposes. They are therefore viewed from the perspective of an appraiser. A qualitative analysis of these factors serves not only as a guide which factors and how shall be taken into account in the estimation but also as an initial pre-selection of factors that will be further tested in the broader project using statistical analysis. The factors examined are indebtedness, interest coverage, business size, economic cycle phase, marketability...

Analysis of macroprudential policy approaches in the practice of the Czech Republic

Naďa Blahová

Český finanční a účetní časopis 2019(4):31-55 | DOI: 10.18267/j.cfuc.538  

The article deals with the analysis and evaluation of the application of macroprudential policy in the Czech Republic after five years of experience in identifying sub macroprudential objectives and selecting appropriate tools. It compares the recommended methodology of the European Systemic Risk Board with the methodology applied by the Czech National Bank. Selected sources of instability and corresponding tools for analysis are divided into two groups. The first group consists of tools that its significance and impact are subject to great discussion. It is a countercyclical capital reserve and risk management of retail loans secured by residential...

Management accounting change in the Czech Republic: 1989–2019

Jaroslav Wagner, Jana Fibírová, Aneta Křehnáčová

Český finanční a účetní časopis 2019(4):57-80 | DOI: 10.18267/j.cfuc.539  

This paper deals with management accounting change in the Czech Republic since nineties of the 20th century. The aim of the paper is to recognize key development tendencies and determining factors and to compare these findings with other CEE countries as well as Western countries. Further, management accounting systems and techniques used in Czech companies and their changes are discussed. As dominant changes, we identified addition (strategic management accounting, performance measurement and assessment, environmental management accounting and sustainability accounting) and variation (costing, planning and budgeting, cost management and cost accounting);...