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Supervision of IFRS compliance in the European Union
Švejdová, Michala ; Procházka, David (advisor) ; Žárová, Marcela (referee)
Due to the lack of uniform financial reporting standards, size of the capital markets in the EU corresponded at the turn of the millennium to roughly half of those in the US. As a result, EU decided to introduce a uniform financial reporting standards which would be transparent, fully understood, properly assessed and effectively enforceable. As agreed in the secondary legislation, stock exchange companies from any of the member states become to be obliged to prepare consolidated financial statements in accordance with IFRS. IFRS have been primarily designed for the needs of the capital markets, continental accounting (icluding the Czech one) has been, on the other hand, focused on the protection of creditors, and also heavily influenced by the tax area. Correct application of IFRS requires accountants, who are well aware of the differences between the two systems. If and to what extent, stock exchange companies prepare their financial statements in compliance with IFRS, is examined in this paper. The aim of this paper is to introduce administrative and legislative process leading to the adoption of standards in the EU as well as at national levels, to introduce a system of IFRS comliance supervision and to identify the extent to which stock exchange companies are able to apply IFRS in their financial statements. The paper is divided into five chapters. Theoretical part includes a historical overview of the introduction of IFRS in the EU, overview of the legislation related to IFRS and supervision of IFRS compliance in the EU and in the Czech Republic. Last chapter assesses IFRS compliance in practice.
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Accounting regulation in Spain
Kvasnicová, Jana ; Žárová, Marcela (advisor) ; Valášková, Mariana (referee)
This bachelor thesis follows the topic of accounting regulation of small and medium-sized companies in Spain in order to approach this issue to public and professionals in the Czech Republic. At the same time, the thesis provides general information on worldwide accounting regulation, compares it with Spanish approach and brings prove or disprove of the existence of legal formalism in the Kingdom of Spain. To support this, the thesis includes a conceptual accounting framework, accounting and valuation methods, annual financial statements and chart of accounts in the form of the General Accounting Plan.
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Účtování internetových domén na zákldě německého Obchodního zakoníku (HGB) a IFRS
Schneider, Florian ; Mejzlík, Ladislav (advisor) ; Žárová, Marcela (referee) ; Tumpach, Miloš (referee)
The goal of this dissertation was to conduct an analysis of domain name accounting according to HGB and IFRS, based on generic, qualified and personal domain names and in consideration of the effect of the relationship to brands and websites as related assets on their recognition, measurement and presentation in the balance sheet. In this regard, the focus of interest lied in clarifying the differences and similarities in domain name accounting, between the rather creditor-oriented HGB and the more capital market-oriented IFRS, between the major types of domain names and between theory and practice.
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Conversion of the financial statements according to the Czech accounting principles to the US GAAP and their influence on investors
Cernenco, Marina ; Žárová, Marcela (advisor) ; Procházka, David (referee)
This thesis examines the influence of financial reporting on present and potencial investors and creditors, in the context of the comparison of requirements and accounting policies applied by national regulations and U. S. GAAP. The comparison is done in the framework of the conversion of financial statements which is essensial for Czech companies simultaneously following different accounting principles. The theoretical part is devoted to examining the influence and role of financial statements prepared in accordance with accounting regulations and U. S. accounting standards, with a more detailed analysis of selected accounting areas of. Attention is also paid to the conversion process, possibilities of its implementation as well as limitations and problems associated with it. Based on the teoretical part the analysis of the conversion process is done on the example of a particular company.
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The accounting responsibilities of an entrepreneur - legal entity in Kazakhstan
Mussina, Bidana ; Skálová, Jana (advisor) ; Žárová, Marcela (referee)
The aim of this work is to give readers from Czech republic a general idea of the entrepreneurship and the development of the accounting system in Kazakhstan which after independence of this country since 16. 12. 1991 still undergoing reform and modification. Recently, according to the strategy of the Kazakhstan, the government is trying to adjust the country's accounting system into international financial report standards. The development of accounting harmonization and norms are important factors that have fundamental influence for the enterprise environment and sustainability.
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The Future of British Financial Reporting
Eckertová, Zuzana ; Žárová, Marcela (advisor) ; Procházka, David (referee)
This study examines changes in British financial reporting that are in the progress with the focus on the year 2012. The subject of the analysis are the differences in selected areas between the new proposals (FREDs 46-48) and current FRSs, former proposals (FREDs 43-45), IFRS for SME, and "full" IFRS. The results suggest that Britain continues to preserve some particular treatments, even though those are not fully in line with IFRS for SME or "full" IFRS. In addition to this, formats of the financial statements according to UK GAAP were examined. The result suggests that the current formats defined by the company law will be preserved. The popularity of vertical balance sheet, which is typical for the UK, is illustrated by examining financial statements of selected companies.
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Importance of balance sheet in the Swiss financial reporting
Dufková, Iva ; Žárová, Marcela (advisor) ; Dvořáková, Dana (referee)
The thesis investigates the importance of balance sheet in the Swiss financial reporting. At first it shows, on a theoretical basis, which is represented by balancing theories, the essential role of the balance sheet for recipients of accounting information. It also deals with the accounting legislation in Switzerland, general accounting principles, financial statement and its appurtenances and projection of selected balance sheet items. Moreover it examines the information capability of the balance sheet on the practical example of a Swiss company.
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The Infuence of Business Environment on the Comprehensive Income Statement
Adámek, Martin ; Žárová, Marcela (advisor) ; Vašek, Libor (referee)
The thesis focuses on the issue of the comprehensive income statement which has been recently included into the financial statements set of IFRS, following the example of US GAAP. In the theoretical part there are outlined various factors which influence the reporting of the comprehensive income and the final form of the statement. The thesis particularly compares reporting of the comprehensive income according to US GAAP and IFRS. In the practical part, the difference is shown on the example of two companies, each reporting in accordance with mentioned accounting systems.
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Regulation of Accounting and Taxes in the Ukraine
Dubatolkina, Tetyana ; Skálová, Jana (advisor) ; Žárová, Marcela (referee)
The work explores questions of accounting, in particular: how the accounting system was formed in the Ukraine, what are the legal principles of regulation of the accounting and tax system, the specificity of audit activities in the Ukraine. The work is divided into four chapters. The first chapter describes the history of accounting, which is important for understanding the current situation and assessment the possible directions of development of this system.The second chapter examines the legal aspects of regulation of the accounting system, describes the main principles of the law of the Ukraine "About Accounting and Financial Reporting in the Ukraine" and the system of national accounting standards, defines the obligations of accounting entities. The third chapter describes the tax system of the Ukraine, deals with the specifics of the Tax Code and the specificity of corporate income tax in Ukraine. The fourth chapter deals with the subject of the audit profession in Ukraine. The conclusion of the work is analysis of auditor's activities, accounting and tax system and Identification of gaps in conditions of the Ukrainian economy.
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