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Differences between the Czech Accounting Legislation and International Accounting Standards of Long-Term Assets
Valihrachová, Lea ; Fiala, Viktor (referee) ; Pernica, Martin (advisor)
There is a significant number of differences between the Czech accounting legislation and the International Financial Reporting standards in the area of posting and presentation of non-current assets. These are eliminated by the process of harmonization within the European Union. Harmonization process shows clear advantages for the users of financial information; however, the process is still not fully completed. Continuous changes in accounting rules also bring to business a lot of complications and additional costs. The diploma thesis presents a comparison of both accounting conceptions; shows a discussion on their advantages and disadvantages and demonstrates the impact of different approaches to booking for non-current assets to the financial statements of a business entity.
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Valuation of the Inventory in the Selected Company
Kružíková, Elena ; Polečová, Mária (referee) ; Pernica, Martin (advisor)
The bachelor's thesis provides a comprehensive overview of the issue of valuation and reporting of inventory. It emphasises the importance of harmonization of these approaches, also the disadvantages of both systems using the method of comparing the approaches the Czech Accounting Standards with IAS/IFRS. Theoretical solutions are applied in a practical example of the valuation of inventory in a particular company. The result of this bachelor's thesis is the demonstration of the effect of valuation on profit accounting entity.
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Accounting and Reporting of Leases According to Czech Accounting Standards and IFRS 16 in a Selected Business Corporation
MATIÁŠOVÁ, Tereza
The main goal of this bachelor thesis is the accounting and subsequent comparison of leasing according to Czech Accounting Standards (ČÚS) and International Standards (IFRS) in a selected business corporation. Financial leasing is one of the most used types of fixed asset financing. It contains the characteristics of leasing, its types and definitions of terms related to this issue. After a short presentation of the selected company for the application of the given issue, the work deals with the accounting of leasing based on the leasing contract according to the CÚS and then according to IFRS 16 - Leases. In the very conclusion, the biggest differences between accounting according to both types of standards are summarized.
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Vykazování dlouhodobého nehmotného majetku v různých účetních systémech
Vlková, Lucie
The goal of the thesis Reporting of intangible assets in different accounting systems is to draw substantial differences and the implications of the application to an entity based on the analysis of methods keeping the records of long-term intangible assets within the frame of the Czech legislation, International Accounting Standards and American Generally Accepted Accounting Principles. The thesis is focused especially on software and research and development. The differences are then displayed in practical examples of selected companies and also supplemented with calculated indicators of the financial analysis.
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Possibilities to reduce the risk of accounting mistakes and fraud of financial statements in conditions of Czech accounting standards (CAS)
HŘEBEČKOVÁ, Darina
The aim of the thesis is to evaluate the possibilities of evaluation of the risk of accounting frauds and accounting mistakes in the financial statements compiled in terms of Czech accounting standards for their users using analytical tools and methods of the financial analysis. Part of the thesis is the proposal of concrete tools or models that reduce the asymmetry of information between the makers of the financial statements and other users of the financial statements and can be implemented in the internal control system of the unit when decision-making on the financial health of selected accounting units. For practical part was chosen an enterprise with a long tradition. Monitoring ratios of The Beneish Model M-Score detect risk areas and tracking ratio trend may alert management to instability in the financial statement. Liquidity and debt ratios are also appropriate methods for reducing the information asymmetry.
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Differences between the Czech Accounting Legislation and International Accounting Standards of Long-Term Assets
Valihrachová, Lea ; Fiala, Viktor (referee) ; Pernica, Martin (advisor)
There is a significant number of differences between the Czech accounting legislation and the International Financial Reporting standards in the area of posting and presentation of non-current assets. These are eliminated by the process of harmonization within the European Union. Harmonization process shows clear advantages for the users of financial information; however, the process is still not fully completed. Continuous changes in accounting rules also bring to business a lot of complications and additional costs. The diploma thesis presents a comparison of both accounting conceptions; shows a discussion on their advantages and disadvantages and demonstrates the impact of different approaches to booking for non-current assets to the financial statements of a business entity.
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Creative Accounting Techniques - Aspects of the Presentation of Financial Statements Prepared in Accordance with International Financial Reporting Standards
ŠVAMBERK, David
The topic of this diploma thesis is "Creative Accounting Techniques - Aspects of the Presentation of Financial Statements Prepared in Accordance with International Financial Reporting Standards". The aim of this thesis is to assess whether the selected entity has shown indicators of possible creative accounting in the context of publicly available financial statements compiled according to IFRS in comparison with Czech Accounting Standards and the subsequent assessment of acquired differences of both accounting approaches. For such assessment, selected detection models are used the Beneish model, the CFEBT model, and Jones Nondiscretionary Accruals. Moreover, there were calculated other two models Altman's Z-score and the Bonity Index. The diploma thesis is focused on the explanatory power of financial statements for stakeholders (or other external users) which has significant influence on their economic decision making. This work analyses issued and audited financial statements from the user's perspective who does not have any access to more detailed supporting documentation. The diploma thesis is divided into three main parts. The first part is the theoretical over-view of creative accounting. This part describes definitions, history, causes, effects, and techniques of creative accounting, as well as there are mentioned detection models which may help to identify manipulated financial statements. There are also presented bankruptcy and solvency models used for a financial analysis of the selected entity. The second part, methodological, contains the procedures and calculations of selected models used for the further analysis of creative accounting. The third part is devoted to evaluate the results of creative accounting analyses. In conclusion, there is commented the possible occurrence of creative accounting in the entity's financial statements and the explanatory power of both accounting systems.
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