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Accounting issues in company transformations
Teissigová, Petra ; Vomáčková, Hana (advisor) ; Rajnochová, Lenka (referee)
This thesis focuses on accounting problems that arise in the context of transformation the company. These include the problem of revaluation of assets and liabilities, the difference arising from revaluation and the recognition and reporting of difference from takeovers. To understand the context in thesis is described the Law on transformation of companies and cooperatives, and selected provisions of the Accounting Law.
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The Influence of Economic Crisis in Techo, a.s.
Bubeníková, Edita ; Fantová Šumpíková, Markéta (advisor) ; Fanta, Petr (referee)
This Thesis contains theoretical and practical part. The theory clarifies basic terms concerning the economic crisis, the field of human resources and defines the terms of merger and acquisition. Then, this theoretical part presents a period of economic crisis in the light of macroeconomic indicators and other indicators that brings near the specifics of this period. The practical part analyses two fields in the Techo Corporation -- the field of human resources and the company's strategy in the form of acquisition. According to the analysis, in the end of this Thesis, there are summarized impacts of economic crisis onto the analyzed field of human resources. There also appears a review of realized acquisition in the end of this work.
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Mergers from accounting and tax point of view
Šrámková, Jana ; Vomáčková, Hana (advisor) ; Rajnochová, Lenka (referee)
The Graduation Theses is targeted at mergers and their accounting and tax aspects. The Graduation Theses solve mergers in clearly law point of view, i.e. merger by acquisition, merger by the formation of a new company, spin-off by acquisition and spin-off split by acquisition. In the text you can find not only solution of mergers from the accounting point of view (from IAS/IFRS as well as from the czech accounting law point of view) but also from the tax point of view (from corporate income tax as well as from the tax administration point of view).
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Antitrust policy and its impact on market participants
Havlíčková, Pavlína ; Hudík, Marek (advisor) ; Čermáková, Klára (referee)
The objective of antitrust policy is to looking after/supervise on fair economic competition leading to price reductions, improving quality and expanding service offerings in the market. But antitrust performs its activities efficiently? Are its decisions under the protection of consumers or for the benefit of producers? Work will focus on the antitrust policy in the United States of America and in the Europe, especially on the merger case General Electric and Honeywell, which has been in the USA allowed, but in the EU prohibited. This work evaluates approaches to the merger on the both sides of Atlantic and arguments of the European Commission, that leads to prohibition. Finally, the work compares the US and the EU antitrust policy and mentions their USEU Merger Working Group, which should ensure higher cooperation, when they simultaneously review the same merger transaction.
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Questions of merger policy in U.S and EU
Čechová, Romana ; Chytilová, Helena (advisor) ; Mičúch, Marek (referee)
Nowadays merging of companies is being presented as a frequent expansive process in business strategy. With increasing size of mergers it is possible to find cases of takeovers which have stronger impact on competition policy in the USA and Europe. The goal of the thesis is to compare efficiency of merger policy in the European Union and the USA. Consequently inadequacies in these policies are analysed. There are also mentioned conditions which are necessary for judging cases by European Commision and American bureaux - Department of Justice and Federal Trade Commission. The analytical part focuses on controversial cases of mergers, from which the most important is the merger of General Electric and Honeywell. This case shows different decisions of European Commission and U.S. Department of Justice.
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The impact of transfer price of enterprise on the corporate tax
Vágner, Jiří ; Francírek, František (advisor) ; Khazarova, Sofya (referee)
This thesis is focused on the sale of the enterprise between related persons. The ambition was to find out, what the tax aspects of a particural transfer of an existing company are, especially with regard to the payment of personal and corporate income tax rate. Partial aim was to determine market value of the enterprise as per January 1st 2010 for the transfer price purposes and structuring of the whole transaction with emphasis on rational tax optimalization. At first there is a valuation report elaborated with regard to the market environment. The price is set based on the DCF entity method. Consequently I work with the enterprise value analysing tax impacts. The transaction structure is chosen as setting up of a new company for leveraged buyout (SPV, s.r.o.) and subsequent merger of this company with the target company as per January 1st 2010. It was found out that the impact of the transfer price on the income tax is at this transaction minimal. In the particural structured transaction there are four kinds of tax risks. First are the rules of thin capitalization which the buyer is able to fulfil by the increase of its own capital at SPV, s.r.o. The second one is the assesment of interests on the affinitive credits according to the arm's length principle. The third one is check of costs of the acquisition credit which should be tax deductible with regard to the company merger. The last risk is the proof of accomplishment of general rules of costs (interest) tax deduction, i.e. the costs must be spent on achievement, securing and maintenance of taxable incomes. At the close of the thesis I focus on the motives of the related parties of the transaction for setting the price of the company. I assume that both parties would have tendencies to decline the enterprise value mostly because of the possibility of compensation through the gratuitous acquisition of asset which in this case in the legal environment of the Czech Republic enjoys the tax-free status.
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Mergers - accounting aspect according the czech legislative and tax framework
Kataeva, Natalia ; Vomáčková, Hana (advisor) ; Dvořáková, Dana (referee)
The main goal of my diploma is to describe domestic mergers and amalgamations, which take place on the territory of Czech republic. Chapters are divided and sorted by particular related areas of the czech legislative framowork. First part of my diploma is dedicated to mergeres as they are, their definition and basic characteristic.Then come description of mergers from different standpoints: legal, tax and account principles regarding to realized changes in framework legislation. A separate chapter describes the whole process of merger paying higher attention to obligatory steps and defined statuory terms. One of the chapters describes a process of merger as it is defined by IFRS rules and compares it with how it is defined by czech legislative framework. The last chapter is about showing an example on how two companies are merged.
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Financial analysis of firm Madeta a.s.
John, Vladimír ; Boukal, Petr (advisor) ; Klečka, Jiří (referee)
The aim of this work is to assess the financial stability of the company from 2003 to 2007. Period, when the company passes through a series of dynamic changes. Entry to the EU. The planned mergers in 2006. The work is divided into two parts. Methodological apparatus is described in the first part. In the second part this apparatus is applied to in practice.
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Significant economic and legal aspects in the protection of competition in the EU and the USA
Zavřel, Vladimír ; Karpová, Eva (advisor) ; Němcová, Ingeborg (referee)
The purpose of the present thesis is to analyse the relationship between competition law and economics on the example of the USA and the EU. In the first chapter is mentioned the context that led to the issuance of antitrust laws in the USA, the EU and other countries, as well as the most significant economic theories which had a major influence on the application of competition law. This is followed by the description of the institutional framework of competition law in the USA and the EU, their respective primary sources of law, including non-legislative documents. The second chapter analyses the most significant anticompetitive conducts for both antitrust areas (i.e. anticompetitive agreements and unilateral conducts), with a special attention to the most harmful anticompetitive conducts (e.g. horizontal price fixing) and to relatively new and dynamically developing areas of antitrust law (e.g. refusal to deal related to intellectual property). Each selected conduct is introduced by the description of potential anticompetitive effects of the conduct and it is followed by relevant significant American and European precedents. The last sub-chapters analyse non-legislative documents issued by the FTC, DoJ and EC which enable to educe their current general approach to mergers.
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Taxation of multinational companies
Fajtová, Hana ; Klazar, Stanislav (advisor) ; Láchová, Lenka (referee)
This diploma thesis focuses on tax aspects of multinational companies. In the first part there is an analysis of EU Council Directive (relating multinational companies) compared with The Income Tax Law. Practical application of some of the above mentioned Directives is shown in some examples. The next part deals with very discussed and actual problem of multinational companies - transfer pricing. This thesis analyses particular documents for this area. The aim of this diploma paper is to create the copmlex thesis about taxation of multinational companies.
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