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Deferred tax and its presentation
Buzková, Veronika ; Müllerová, Libuše (advisor) ; Pelák, Jiří (referee)
The diploma thesis focuses on deferred tax. It characterizes this accounting category and describes various theoretical approaches to its calculation. It deals with its historical development and the current regulation of its recognition and presentation in financial statements. The thesis contains rules set by IFRS as well as Czech accounting legislation. It explains the most common situations where deferred tax liability and deferred tax asset arises. The practical part compares chosen theoretical knowledge with its practical application. It assesses correctness of presentation of deferred tax in practice. The thesis deals with the question whether accounting units make mistakes when presenting deferred tax and whether they provide sufficient additional information to users of financial statements. Significance of deferred tax in balance sheet and income statement is subject to interest too.
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Provisions as an instrument of prudence principle
Valešová, Pavlína ; Ďurianová, Gabriela (advisor) ; Bokšová, Jiřina (referee)
Bachelor thesis disserts on provisions as an instrument of prudence principle. Initially, generally accepted principles in accounting are defined with emphasis on prudence principle and its instruments. General specification of provisions is followed by the analysis of provisions according to Czech legislation and IFRS. In accordance with Czech legislation are specified all types of provisions, and also explained conditions on which some provisions influence the tax base. In IFRS, IAS 37 deals with provisions, contingent liabilities and contingent assets. Thesis focuses especially on differences between them and their valuation. Eventually both Czech legislation and IFRS are compared and main differences are highlighted.
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Provisions in czech accounting legislative and IFRS
Novotný, Libor ; Novotný, Jan (advisor) ; Roubíčková, Jaroslava (referee)
Bachelor thesis compares two views of reporting reserves, where the first sight of the reserves is presented by the Czech legislation, other view is in accordance with International Financial Reporting Standards. The thesis initially used in the theoretical part, where it focuses on the essential definition, classification provisions, reason for the creation of provisions, etc. In the provisions according to Czech law provisions are analyzed and their impact on the tax base in the Czech Republic. In the practical part we find examples comparing the most important differences between the two methods.
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Use of the estimation method in the enterprise Pražské vodovody a kanalizace, a.s.
Veselá, Ilona ; Randáková, Monika (advisor)
The paper is dedicated to the estimation method in accounting, especially to its basis, representatives and practical use. The paper is written from the theoretical definition of the generally accepted accounting principles, characterizing the accrual basis, the going concern and the prudence principle as a background of the estimation method. Furthermore, this work characterizes accruals and allowances as manifestations of the estimation method. Both expressions are first defined in general, than in the Czech legislation and there is outlined the approach in IAS / IFRS. Subsequently, the thesis analyzes the issue of accruals and allowances in the existing enterprise Pražské vodovody a kanalizace, a.s and focuses on the use of the estimation method in practice.
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Prudence principle in accounting
Věžník, Marek ; Bokšová, Jiřina (advisor)
The principle of prudence in accounting is one of several generally accepted accounting principles. The need of prudence principle arises from the fact that an accounting entities are often found in situations in which they must deal with certain risks and uncertainties. The basic purpose of this principle is to not to overvalue assets and revenues and also not to undervalue liabilities and expenses. Prudence principle is realized mainly through these instruments: provisions, impairment of assets and depreciation of assets. This bachelor work focuses on the description of provisions and impairment of assets. Its aim is also to describe the provisions and impairment of assets in terms of both the Czech accounting legislation and IAS/IFRS and outline the basic differences between these legislative accounting regulations.
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Provisions in Accounting of Businesses
Jakubcová, Klára ; Míková, Marie (advisor) ; Roubíčková, Jaroslava (referee)
The diploma thesis deals with problems of provisions. Its substantial part is devoted to obvious provisions. First of all, there is metioned a general determination of provisions and some of Generally accepted accounting principles, which have the largest influence on formation of provisions. The thesis describes provisions according to International Financial Reporting Standards and according to the Czech legislation. Consequently, the thesis compares czech approach to provisions with IFRS's approach. With regard to upcoming amendments of provision in IFRS the part of thesis reports essential proposed changes. The end of the thesis is devoted to buried reserves. There is mentioned life cycle, meaning and examples of buried reserves.
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Prudence principle in generally accepted accounting systems
Tichá, Veronika ; Krupová, Lenka (advisor) ; Strouhal, Jiří (referee)
This master's thesis is focused on a prudence principle under International Financial Reporting Standards (IFRS) a US Generally Accepted Accounting Principles (US GAAP) in accounting of a reporting unit. In the first part I described the prudence principle (conservatism principle) in the general way. In the second part of this thesis I introduced impairment testing, recognition of impairment of assets and reversal of previously recognized impairment of assets under IAS 36 Impairment of Assets. It is obviously focused on recoverable amount as a fair value less costs to sell and value in use, methods of the fair value valuation, computing value in use and identifying the appropriate discount rate to apply expected future cash flows. Third chapter of this master's thesis, named "Provisions under IAS 37", is dealing with relation between provisions and contingent liabilities, initial liability measurement and subsequent applying IAS 37. There are also stated disclosure requirements under IAS 37 (as well as under IAS 36). Within the scope of this part are in detail described Exposure Draft ED/2005 and Exposure Draft ED/2010/1 published from International Accounting Standard Board IASB in 2005 and 2010 as proposal to improvement of current version of standard IAS 37. This thesis is also focused on differences between accounting principles of prudence principle in IFRS and US GAAP. Finally, in the last chapter I analysed 15 annual reports of airlines companies in the world, which present their financial statements under IFRS. The results according to impairment of assets including goodwill, provisions and disclosures of contingent liabilities are presented in the charts. This master's thesis, named "Prudence principle in generally accepted accounting systems" is completed with practical insights and cases in each of chapters.
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Provisions — Comparison of Attitude of Czech Accounting Legislation and IAS/IFRS
Benešová, Barbora ; Velechovská, Lenka (advisor)
The thesis attends to the issue of provisions as an instrument of the prudence principle in Czech legislation and in International Financial Reporting Standards. In addition to delimitation of provisions according to Czech legislation the thesis includes also listing of particular categories of provisions and tax-deductible provisions. Thereinafter, it defines provisions from IAS/IFRS point of view. The objective of the thesis is to summarise the issue and to compare regulations of provisions of both, IAS/IFRS and Czech concept.
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