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Financial reporting of long-term contracts under czech accounting regulations IFRS and US GAAP
Bošková, Tereza ; Roe, Jana (advisor) ; Molín, Jan (referee)
This diploma thesis deals with specifics for reporting of construction contracts in financial statements according to czech accounting regulations, IFRS and US GAAP. These are contracts that are custom-made, so they are not serial production and they are long-term, so most of their production goes into more accounting periods. In 2018, new Standards for Recognition of Revenue from contracts with customers IFRS 15 and ASC 606 will enter into force. The aim of the thesis is to characterize individual approaches to the reporting of revenues from construction contracts with a focus on the specifics in this sector and their comparison. To achieve this goal, a comparison method will be used. The thesis is divided into the theoretical and practical part. The theoretical part describes requirements and aspects related to building contracts, individual accounting standards including new revenue standards. In the practical part, an example is illustrated that shows a different approach to reporting revenue from these contracts in accordance with Czech accounting regulations and IFRS or US GAAP and comments on the changes that may occur through the application of new standards. At the end of the thesis, individual approaches are compared.
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Cash and Cash Equivalents under Czech Accounting Standards, IFRS and US GAAP
Oliva, František ; Roe, Jana (advisor) ; Vašek, Libor (referee)
This bachelor thesis pays attention to financial reporting of cash and cash equivalents in compliance with the Czech Accounting Standards (ČÚS), the International Financial Reporting Standards (IFRS) and the United States Generally Accepted Accounting Principles (US GAAP) and to the differences coming from these standards. This thesis is divided into three main parts. Firstly, it will focus on defining the terms that are associated with the topic, further, it will be dedicated to appraising, repricing and financial reporting of cash and cash equivalents in accordance to the three accounting standards, and lastly, it will practically demonstrate the differences between them.
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Uznávání výnosů v softwarovým průmyslu: případová studie Apple Inc.
Farkašová, Anna ; Roe, Jana (advisor) ; Procházka, David (referee)
Rapid digitization of enterprise processes and software applications simplifying daily-life routines enhance the need for software arrangements. Based on this growing trend, the underlying thesis discusses revenue recognition for software arrangements under US GAAP, the lingua franca of financial reporting framework in software industry. The thesis examines the first industry-specific guidance - SOP 97-2, its successor ASC 605 and aims at capturing the main implications resulting from the new converged US GAAP/ IFRS revenue recognition standard ASC 606/ IFRS 15 on a case study. The five-step revenue recognition model introduced by ASC 606 is applied to the US-based technology and software seller Apple Inc. and its wide range of product portfolio including software.
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Neúčetní aspekty implementace IFRS v USA
Roe, Jana ; Mejzlík, Ladislav (advisor) ; Žárová, Marcela (referee) ; Tumpach, Miloš (referee)
In the last 20 years, IASB IFRS has been promoted as the IFRS has been adopted by many major economies as for financial reporting and is poised to become even more widely accepted and used in the near future, with the main objective of unifying world financial reporting by making statements more comparable. The second key player in the field of financial reporting is US GAAP, used by American publicly traded companies, accounting roughly for approximately one-third of the world's capitalization. Although many countries, in concluding members of the EU, have accepted IFRS without significant changes to their existing financial reporting standards or their infrastructure, SEC in the USA has lead a long process of convergence with IFRS from the technical side and also the regulators and general environment has been preparing for the change, with the aim of ensuring smooth and successful transition, resulting in a higher quality of IFRS adoption. The main problem, which leads to the research presented in this dissertation is whether to approach international accounting harmonization from the top-down or bottom-up. The main objective of the dissertation is was to contribute to the analysis of the significance of the impact of non-accounting (environmental) factors on financial reporting quality, specifically the adoption of IFRS. The dissertation accomplishes the main goal by utilizing the survey method of analysis to accumulate research to date, analyze available evaluation methods and to describe the control environment, USA. The second stage of the analysis involves constructing a comprehensive evaluation model, which enables a comprehensive analysis of the relationship between environment and financial reporting. The model developed in the dissertation is intended for use by researchers for a comprehensive, inter-disciplinary, empirical study of the environmental effects on financial reporting.
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Comparison of corporate income tax in the Czech Republic and the USA using the C-corporation form
Bošková, Tereza ; Roe, Jana (advisor) ; Molín, Jan (referee)
The aim of this thesis is to draw a comparison between the corporate income tax in the Czech Republic and in the United States. The legal status of companies in both countries is analyzed, and considering the diverse tax perspective, the different impacts of taxation on these companies are mentioned. Furthermore, the thesis is focused on the description of the corporate income tax system, which contains: basic adjustments of costs, tax calculation and tax payment process. Finally, it compares these two systems and subsequently main differences between them, among with the calculation are demonstrated by the practical example.
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Inventory valuation according to CAS, IFRS and US GAAP
Michálková, Alena ; Roe, Jana (advisor) ; Vašek, Libor (referee)
The aim of this bachelor thesis is to compare and analyse methods and ways of inventory valuation on removal from storage by three sets of standards: International Financial Reporting Standards (IFRS), US Generally Accepted Accounting Principles (US GAAP) and Czech Accounting Standards (CAS). The thesis is divided into several units. As the theme itself suggests, at first it was necessary to define the scope of inventory by individual systems, followed by characterization of the selected sets of standards. The next larger unit is devoted to methods of inventory valuation authorized by the individual systems. Comparison of various inventory valuation methods is performed at the very end. The last part concludes an example, which is designed to reflect differences arising in the finite amount of inventory in the balance sheet when using various valuation methods.
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Personal income tax in the Republic and the United States in the application double tax treaty
Marušáková, Tereza ; Roe, Jana (advisor) ; Molín, Jan (referee)
Bachelor thesis describes the problem of double taxation between the Czech Republic and the United States and The Convention between the United States of America and the Czech Republic for the avoidance of double taxation. It shows how to report tax in the U.S. and subsequently in the CR. Complementary thesis describes basic characteristics of tax systems, focusing on individual income tax. The work focuses on the most common income from employment, other incomes thesis does not describe or only marginally. As taxpayers are mainly describe exempt individuals. The main question if The convention for avoidance of double taxation prevent of double taxation is confirmed by part two and practical example. Finally, the work concluded that the double taxation did not appear. Daň z příjmu fyzických osob v ČR a USA při aplikaci smlouvy o zamezení dvojího zdanění
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