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Business Property - tax and accounting aspects
ANTOŇŮ, Ivona
In this Bachelor{\crq}s thesis I have examined the issue of business assets while focusing on the aspects of taxation and book-keeping. The objective of this work is an analysis of the limits of business assets in accordance with valid Czech legislations and the application of book-keeping and taxation consequences in practical terms of changes in business assets. The theoretic section characterizes business assets in terms of physical and legal entities, the company{\crq}s proprietary structure, which is dividend up according to valid account curricula for entrepreneurs that keep accounts. I have also included a preview of the question of asset assessment as well as limiting the methods of acquiring and liquidating tangible and intangible long-term assets and describing what the term joint property of spouses means pursuant to the Civil Code. I have also focused on the question of changes in business assets {--} in specific terms the methods of transferring business practices from a physical entity to a legal entity, the methods of transforming the company by division, the execution of a decision inflicting company share in a company and cooperative, and the termination of business practices of a physical entity. I provide information about taxation records and taxes designated by lump-sum amounts. In the practical section I develop the proprietary structure of a select legal entity and apply the results of the analysis of changes in business assets to this legal entity {--} the acquisition of long-term tangible assets, the sale of assets, and the depreciated price of assets in terms of the Income Tax Act. I also mention the question of acquiring tangible assets in the form of financial lease with the subsequent purchase of leased matters as a general opportunity of tax optimization, which is also applied to the select legal entity. I also mention the capital accession of a German company, which was selected by the legal entity mentioned above for the expansion and improvement of quality of offered services.
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Accounting audit of long-term tangible property according to international auditing standards
ANTOŇŮ, Ivona
The present diploma thesis deals with accounting audit and it strives to analyze inner control system in a selected accounting unit focusing on long-term tangible property. The goal of the thesis is to perform an audit focusing on long-term tangible property according to international auditing standards in a selected accounting unit which is not obliged by the law to carry out an audit. The theoretical part gives a brief outline of historic roots of auditing profession supplemented with a few general definitions of audit. Furthermore, there are defined functions of audit and legal provisions of the Czech law concerning accounting audit. The law is divided into rules of law, auditing directives, and International Standards on Auditing (ISA). Also, the said part includes the notion of the Code of Ethics of the Czech Chamber of Auditors. Further on, there is a definition of inner control system in a company and auditing procedures used during the review of financial statements. The next part of the thesis includes a plan concerning an audit of long-term tangible property. Practical part is divided into several parts and it deals directly with the audit of long-term tangible property. Here, acquired theoretical knowledge is applied to an existing company. First, the company characteristics is given, then there is an analysis of the company{\crq}s inner control system with attention paid to long-term tangible property, and lastly an audit of the long-term tangible property is executed only to show it contains activities before finishing order, activities related to getting to know the customer and to actual execution of the audit.
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