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Impact of IFRS Adoption into German GAAP on SME’s Financial Statement Informative Value
Trytko, David ; Müllerová, Libuše (advisor) ; Zelenka, Vladimír (referee) ; Šebestíková, Viola (referee)
The legislated Accounting principles modernizing act, abbreviated BilMoG, caused a fundamental accounting reform in Germany. The most important international accounting standards IFRS were implemented in to elsewise conservative accounting rules. Due to fact the main users of GAAP in Central Europe are SME, the description and analysis of IFRS's implementation in to German GAAP seems to be beneficial for SME's financial statement informative value for the first year as of December 31, 2010. Major receiver of SME's financial statement is not the institutional investor but financing bank and other creditor. The aim of the thesis is to verify assumed informative value's improvement of SME's financial statement as their most important finance reporting form. The verification of defined hypothesis is based on rigorous and systematic SME's characteristic analysis as well as their applicable GAAP's. After recognition of the most important German GAAP's changes follow the IFRS comparison and a feasibility evaluation of German qualitative characteristics used not only by SME. The consequent empirical research mergers the provided analysis and recognition of the fundamental and by SME frequently used balance positions with quantitative and qualitative assessment of adjustment to be made for preparation of consolidated financial statement in accordance with German accounting rules and principals. This research is based on near 70 available audited Czech SME's financial statements for the financial years before and after partly IFRS adoption into German GAAP (BilMoG). The findings and results establish the verified informative value's improvement of financial statements. The finance lease recognition (necessary capitalisation) persists to be the most significant adjustment between Czech and German financial statement after BilMoG. This fact clearly shows the deficiency of current Czech GAAP. Extent and number of required adjustments are on the decrease and the current German GAAP seems to be applicable for SME's purposes either. Thesis conclusion draws the attention and requirement to improve the Czech GAAP. Also continuance of prudence principle after partly IFRS adoption is fixed. Surprisingly the positive tax law impact is found out, especially not only on allowances or provisions, but also on other relevant accounting areas as such asset definition, discounting of long term provisions, finance lease recognition etc.
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The impact of recodification of the civil and commercial code on the Czech accounting standards
Kašparová, Petra ; Müllerová, Libuše (advisor) ; Trytko, David (referee)
The Czech accounting standards have been amended many times yet. They were nevertheless adjusted in connection with the recodification of the private law on January 1st, 2014. Main output of this recodification was "The new civil code" and "The law about commercial corporations". The diploma thesis examines the impact of these legal standards on the Czech accounting standards. Apart from that, the new civil law brings also new terminology, what has consequently an impact on legislative and technical changes of the Czech accounting standards. Moreover the thesis talks about selected recodification areas, which significantly interfere in accounting. It is mainly the new concept of properties, trust, earnest payment and paying of prepayments on share on profit. Last but not least, the thesis tries to explain the new definition of technical improvement.
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Accounting, corporate taxes and the ways of tax optimization
Hobža, Radek ; Müllerová, Libuše (advisor) ; Trytko, David (referee)
The aim of this thesis is to outline the optimization of taxes on corporate income and its use in practice. The first part defines the basic concepts and highlights the issue of the link between accounting and tax rules. The following is a detailed description of the transformation of the accounting profit to the tax base with a number of example and accounting schemes. The second part focuses on explaining the concepts of tax savings and tax avoidance.They are described main methods of illegal tax evasion and how to fight against them at the national level and the European Union. In addition, this part characterizes the basic concepts of tax havens, their benefits and efforts to reduce them. The conclusion is given virtually complete practical expample using the methodology described in this work.
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Preparing of the company on final accounts
Dvořáková, Eva ; Müllerová, Libuše (advisor) ; Trytko, David (referee)
The thesis deals with the preparation of joint stock companies on the final accounts, therefore, preparation of financial statements. There are described and listed the various operations to be performed before the closure of the books and then assembling the financial statements. Subsequently, the entire theoretical part of the thesis are applied to the company Inovační technologické centrum - VÚK, a.s..
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