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Claims and income tax
BENDOVÁ, Markéta
Claims are special kind of property. They are tangible property, where its owner has limited possibilities of its exploitation. They ae property, which is bailed to another person without compensation. Claims are interest-free commercial credit granted to a debtor. High share of claims in total circulating property can affect negatively on trend of conditions for economic activity. Claims tie sources necessary to acquisition stock needful for production or business activity. In case of irrecoverable claims is possible to reach indirect reduction their evaluation in accounting by way of adjusting items. Claims are the only property, where is creation of adjustment on fulfilment of a condition tax deductible cost. On the limiation of claim do not arise obligation for creditor to eliminate claim from the property. Creditor can willingly decide of elimination of claim anytime. On fulfilment of conditions fixed in the Income Tax Act is junk value of claim tax deductible. When the lawful conditions are not fulfiled, in the case of claim retirement is not the cost incurred by the write-off tax deductible. Here is also the possibility to transfer a debt to another person. In this way is danger of default of payment eliminated. Achievement of claim settlement is also possible by inclusion mutual claims between creditor and debtor.
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Discharge as one of debt-eliminating modes of solving bankruptcy
Šnoblová, Zuzana ; Smolík, Petr (advisor) ; Zoulík, František (referee)
Discharge as one of debt-eliminating modes of solving bankruptcy Abstract The aim of this thesis is to define the new law institute as regards insolvency law that is defined in the Act No. 182/2006 Coll., on Bankruptcy and its solution (Insolvency Law). The act came into force on 1.st January 2008. The purpose of this thesis is also to describe the practice of courts when applying afore mentioned law and specify some difficulties concerning new legislation. Discharge from debts is one of the remediation methods to resolve the debtor's bankruptcy. The idea is to allow the debtors to exempt from the payment of their debts and start new life free of debt. Discharge from debts is a tool for solving the so-called consumer bankruptcy people who are not entrepreneurs. The part of the thesis deals with the personal scope of discharge. Furthermore, it is up to the court to decide whether it discharges debtors from their debts. The basic premise is the honest intention of the debtor. Another assumption is the fact that the debtor will satisfy at least 30 percent of the claims of unsecured creditors. Discharge from the debts can be secured in two ways. The first way is to liquidate the debtor's estate and the second, is to fulfill monthly payments in five years, the second solution is often preferred by the unsecured...
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Use of Interest Rate Models for Interest Rate Risk Management in the Czech Financial Market Environment
Cíchová Králová, Dana ; Arlt, Josef (advisor) ; Cipra, Tomáš (referee) ; Witzany, Jiří (referee)
The main goal of this thesis is to suggest an appropriate approach to interest rate risk modeling in the Czech financial market environment in various situations. Three distinct periods are analyzed. These periods, which are the period before the global financial crisis, period during the financial crisis and in the aftermath of the global financial crisis and calming subsequent debt crisis in the eurozone, are characterized by different evaluation of liquidity and credit risk, different relationship between financial variables and market participants and different degree of market regulations. Within this goal, an application of the BGM model in the Czech financial market environment is crucial. Use of the BGM model for the purpose of predicting a dynamics of a yield curve is not very common. This is firstly due to the fact that primary use of this model is a valuation of interest rate derivatives while ensuring the absence of arbitrage and secondly its application is relatively difficult. Nevertheless, I apply the BGM model to obtain predictions of the probability distributions of interest rates in the Czech and eurozone market environment, because its complexity, direct modeling of a yield curve based on market rates and especially a possibility of parameter estimation based on current swaptions volatilities quotations may lead to a significant improvement of predictions. This improvement was also confirmed in this thesis. Use of swaptions volatilities market quotations is especially useful in the period of unprecedented mone- tary easing and increased number of central banks and other regulators interventions into financial markets that occur after the financial crisis, because it reflects current market expectations which also include future interventions. As a consequence of underdevelopment of the Czech financial market there are no market quotations of Czech koruna denominated swaptions volatilities. I suggest their approximations based on quotations of euro denominated swaptions volatilities and also using volatilities of koruna and euro forward rates. Use of this approach ensures that predictions of the Czech yield curve dynamics contain current market expectations. To my knowledge, any other author has not presented similar application of the BGM model in the Czech financial market environment. In this thesis I further predict a Czech and Euro area money market yield curve dynamics using the CIR and the GP models as representatives of various types of interest rates models to compare these predictions with BGM predictions. I suggest a comprehensive system of three criteria, based on comparison of predicti- ons with reality, to describe a predictive power of selected models and an appropria- teness of their use in the Czech market environment during different situations in the market. This analysis shows that predictions of the Czech money market yield curve dynamics based on the BGM model demonstrate high predictive power and the best 8 quality in comparison with other models. GP model also produces relatively good qua- lity predictions. Conversely, predictions based on the CIR model as a representative of short rate model family completely failed when describing reality. In a situation when the economy allows negative rates and there is simultaneously a significant likelihood of their implementation, I recommend to obtain predictions of Czech money market yield curve dynamics using GP model which allows existence of negative interest rates. This analysis also contains a statistical test for validating the predictive power of each model and information on other tests. Berkowitz test rejects a hypothesis of accurate predictions for each model. However, this fact is common in real data testing even when using relatively good model. This fact is especially caused by difficult fulfilment of test conditions in real world. To my knowledge, such an analysis of the predictive power of selected interest rate models moreover in the Czech financial market environment has not been published yet. The last goal of this thesis is to suggest an appropriate approach to obtaining pre- dictions of Czech government bonds risk premium dynamics. I define this risk premium as a difference between government bond yields and fixed rate of CZK IRS with the same length. I apply the GP model to describe the dynamics of this indicator of the Czech Republic credit risk. In order to obtain a time series of the risk premium which are necessary for estimation of GP model parameters I firstly estimate yield curves of Czech government bonds using Svensson model for each trading day since 2005. Resulting si- mulations of risk premium show that the GP model predicts the real development of risk premiums of all maturities relatively well. Hence, the proposed approach is suitable for modeling of Czech Republic credit risk based on the use of information extracted from financial markets. I have not registered proposed approach to risk premium modeling moreover in the Czech financial market environment in other publications.
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Public Finance Reform in the Czech Republic
Pešek, Radim ; Dvořák, Pavel (advisor) ; Lešetický, Ondřej (referee)
This work describes the development of volume and structure of czech agencies of government sector expenditure side, the development of budget balance and a public debt. It judges the fulfilment of Maastricht's criteria necessary for the acceptance of common europian currency. The work also describes and scans two reforms in public finance in the Czech Republic. The proposals for solving the problems in czech public finance are introduced at the close of the work.
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Executory process in practise
Čepelková, Sabina ; Smrčka, Luboš (advisor) ; Schönfeld, Jaroslav (referee)
This bachelor's thesis deals with issue of execution against Czech household's property. The main goal is to provide the reader with a guideline how to solve already existing execution or if it is expected to be an execution in the future by entrusting the administration of debts to a private legal entity. In the theoretical part of this bachelor's thesis I am explaining key concepts which are related to this issue, then this part contains of enumeration of existing types of execution, the methods how they are fulfilled and the development of executory process. Following chapter deals with development of Czech household's indebtedness from the year 1990. In the practical part concrete cases of debtors are mentioned and described with their solution, which was done by the company CS Finance limited.
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Hygiene habits of children of primary school age
GLÜCKSELIGOVÁ, Lenka
This thesis examines the health habits of the primary school children at smallclass schools. It deals with the problem to which extent children follow the principles of a healthy lifestyle in everyday life, especially in the area of physical activity, sleep, organization of daily routine and extent of mental strain. The theoretical part summarizes knowledge of the characteristics of younger school age period and its development in the physical, mental and social context. Other chapters focus on the hygiene habits, mental hygiene, sleep and its disorders. Attention is also paid to the nophysical activity, nutrition, and their relationship to health. The research part presents the current results of the survey, to which there were used: A standardized questionnaire Řehulka (1987), Timetable of the day (Mužík, Bártová, 2010) and registration of physical activity with using a pedometer. This is a qualitative and quantitative research, which 78 children from four selected smallclass schools have been subjected to. The results show that there were not alarming deficiencies in fulfilling the above aspects of a healthy lifestyle.
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Respect to specifics of child development in the current nursery and basic school
Polcarová, Irena ; Kropáčková, Jana (referee) ; Havlová, Jana (advisor)
The topic of my thesis was a research in nursery and in first grades of basic school with specific focus on respect paid to development specifics of preschool children (age 5 to 6) and early school age children (age 7 to 8), all taken from the perspective of fulfillment of children's needs. The research was conducted by questionnaire, direct and indirect observations and by interviews. The research focused on the potency of the factors that influence the fulfillment of child's needs, with special attention paid to the personality of teacher, type of environment and conditions in the pre-school facility and in a school itself. Last but not least a set of daily routines and timetable for classes in together with rules on school conduct were considered. An important factor was a direct observation of four pre-selected children in pre-school age and in early school age with different mindsets as far as the level of development and personal school aptitude is concerned.
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Financial analysis of the Vinium Company
Chlubnová, Lucie ; Špička, Jindřich (advisor) ; Kubíček, Aleš (referee)
The aim of the Bachelor thesis is an evaluation of the financial situation of the Vinium Company from an owners' view. Financial analysis will be performed for the periods of 2009-2013 using vertical and horizontal analysis, the financial ratio, solvency and bankruptcy models. In the next step, I will make an intercompany rating with similar companies. The annual reports 2009-2013 were used as a starting material for evaluation. In the conclusion of the thesis is a recommendation for the owners, they should focus on decreasing the share of interest expenses, which would help to generate profit and improve the resulting value of the financial ratio. A lower debt would also lead to the fulfilling of balance sheet rules and better results when analysing solvency and bankruptcy models, at the moment the company is in the bankruptcy zone. The overall financial health of the company isn't very good, because it didn't give any economical added value in any of the years to its owners. Vinium is dependent on financial help from its parent company České vinařské závody a.s. and the companies in the group Prosperita. The strong side of the company is its trade deficit, when Vinium a.s. uses interest-free loans from its suppliers.
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Public budgets of all EU members between the time period of 2008 to 2011 - basic problems and their solutions
Petrík, Vojtěch ; Karpová, Eva (advisor) ; Machytka, Daniel (referee)
This bachelor's thesis deals with the problematic of public budgets in the EU countries. It treats of the current situation in individual member countries by fulfilling budget rules, analyses possible causes of current debt crisis and sketches out future outlook. First part focuses on theory of fiscal and budget policy and defines basic terms. In the second part is a characteristic of the public financing situation in individual EU members during the following time period to find. In the last chapter there is a summary of current budget problems in specific EU countries, like installation of economic measures or implementation new steps in order to coordinate fiscal policy.
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The family as a partner in the nursing process
GREGOROVÁ, Jana
Cooperation between a client?s family members and the medical staff in a nursing process is very important. It is beneficial in particular for the cilent since his/her family (especially in mental terms) and are able to put themselves in the cilent?s role. The family should support the hospitalized family member and show active participation in the nursing process, which should also be made possible by the medical staff. While providing nursing care, the medical staff pays their attention not only to the ill client but also to his/her family. Within the scope of the cooperation with the family they provide support and information. They have to ensure that not only the patient but also all his/her family members understand the disease, the treatment process and the consequences arising from the aforesaid for the family?s function. They also assess whether after ending the hospitalization the family is able to provide the aftercare at home or whether it is necessary to find another option of care after the patient?s discharge. The objective of the thesis was to ascertain whether the family participates in nursing of the hospitalized client. The objective of the thesis has been fulfilled.
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