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Challenges of IFRS 9 under COVID-19 crisis
Stefanov, Adam ; Pečená, Magda (advisor) ; Teplý, Petr (referee)
The purpose of this thesis is to analyse provisioning in banks according to the new accounting standard IFRS 9 under COVID-19 crisis, and the difference between provisioning under IFRS 9 and the previous IAS 39 standard in the Czech Republic. We examine the procyclicality of provisioning and income smoothing practices in Czech banks on individual banking groups data and on aggregated total banking sector. We use panel regression and Ordinary Least Squares on quarterly aggregated real data for the period 1Q2008-4Q2021. The provisioning under IAS 39 incurred loss model was procyclical, and therefore IASB introduced IFRS 9 - a new three-stages ECL model to calculate impairment and provisions in a forward-looking manner, which it believed to be countercyclical. First, we find that the provisioning in Czech banks under IFRS 9 still behave procyclically, even though the banks create provisions immediately when the macroeconomic environment deteriorates compared to the delayed provisioning under IAS 39. We discuss a possible solution to the procyclicality problem that could lie in the US GAAP CECL model. Second, we provide evidence that the introduction of IFRS 9 discouraged banks from income smoothing practices via provisions, thus removing some inefficiency of the previous standard.
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Creative Accounting
Štěpančík, Jan ; Svitlík, Jan (advisor) ; Peprníčková, Mariana (referee)
This thesis clarifies the concept of creative accounting, defines it and distinguishes it from fraudulent acting. The thesis further describes particular practices of creative accounting, which are divided into three main categories. In conclusion, the thesis captures the occurrence of the creative accounting in the world and reactions it initiated.
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The Issue of Accounting InformationDdistortion and Manipulation of Financial Statements - Creative Accounting
Háblt, Jiří ; Kuchařová, Ivana (advisor) ; Šárka, Šárka (referee)
The main aim of the thesis is to define creative accounting and describe selected techniques, which can be encountered in real life, including with their effect on accounting reports. For proper understanding of the issues this thesis also defines accounting in accordance with applicable laws and standards. However, the technique of creative accounting is the result of work of people who are part of an interest group which aims to present the status of the company in a distorted form. For this reason ethics in accounting is also a part of this thesis.
The practical part of the work is focused on creative accounting practices and their implications are presented with examples. These examples are accompanied by diagrams presenting the impact of the respective values on selected accounting reports and include explanatory comments.
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