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Creative Accounting in Small and Micro Companies in the Czech Republic
Zemánková, Lenka ; Kocmanová, Alena (referee) ; Schillerová, Alena (referee) ; Živělová, Iva (referee) ; Fedorová, Anna (advisor)
The dissertation deals with the issue of creative accounting of small and micro companies in the Czech Republic. Creative accounting is a phenomenon that gained importance in the 21st century after publicizing of a number of accounting scandals. In the context of economic crisis and budget deficit, the phenomenon of creative accounting, in particular the prevention and detection of financial manipulation, is a topical issue which draws attention of experts specialized in economics as well as of entire countries including the Czech Republic. The research focus on small and micro companies stems from the undeniable importance of this segment for the performance of the economy of the entire country. This dissertation provides a comprehensive view of the issue of creative accounting in terms of theoretical approaches as well as its practical application. Primary research is based on an analysis of the phenomenological paradigm, i.e. it focuses on the understanding of human behaviour on the basis of a reference framework of research participants. The main aim of primary research is to discover the motives, techniques, perception of risk and consequences of creative accounting in the Czech Republic. The main research method used in the research is a case study based on a comparison of four business entities. The consequences of creative accounting are illustrated on a critical case. The main limitation of the dissertation rests in the impossibility of examining a large sample. The research revealed some findings that are contributive in particular to practice in the area of prevention and detection of creative accounting. The research provides findings usable by supervisory bodies to improve detection of creative accounting, and thus to increase the perceived risks. Another contribution of the dissertation is a suggestion of several possible alterations of legislation which will help reduce existing opportunities of creative accounting in relation to the motives to carry out creative accounting. Assistance in directing further research into the issue of creative accounting may also be considered important, in particular for the theory.
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Using of Creative Accounting in Selected Company
Hýblová, Petra ; Fedorová, Anna (referee) ; Zemánková, Lenka (advisor)
This thesis deals with the creative accounting in the selected business corporation. First, the theoretical background is defined, followed by an analysis of the selected accounting cases for the year 2016, where creative accounting methods were used. All the creative accounting cases are then redesigned so that they do not include these practices. New earnings are therefore calculated as well as the new value added tax rate that the company should have properly deducted.
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The Creative Accounting in the Selected Company
Šplíchalová, Šárka ; Doležal, Vladimír (referee) ; Zemánková, Lenka (advisor)
This thesis is focused on the area of creative accounting, more specifically on Schwarz system. The issues are resolved by recalculation per employee and by accurate and fair depiction of accountancy according to the legislation. The results of thesis reveal impact of Schwarz system on the company. The differences in costs which the company saves are quantified and the penalties that result from such behavior are also specified.
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The Creative Accounting in the Selected Company
Veselá, Lucie ; Pikl, Zdeněk (referee) ; Zemánková, Lenka (advisor)
The topic of the diploma thesis is creative accounting used in accounting of a certain business corporation. First, main terminologies that are important for creative accounting are identified. Further, various practices of creative accounting of a business corporation dealing with construction works are identified. Correct re-accounting of all accounting transactions that are in contradiction with laws is proposed. The analytical part summarizes all and compiles account sheets corresponding with the authentic and honest portrayal of accounting entity.
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Využívání technik pro detekci technik kreativního účetnictví
Morkusová, Simona
Morkusová, S. Using techniques for detecting creative accounting techniques. Diploma thesis. Brno: Mendel University, 2023. The diploma thesis deals with creative accounting techniques and models, which are designed to detect these techniques. The motives which motivate the management of entities to use creative accounting practices and the possibilities of preventing the manipulation of financial statements are identified. Based on the analysis of financial statements of selected accounting entities models designed to detect manipulation of financial statements were applied. The CFEBT model, the Beneish model, the Jones non-discretionary accrual model and Altman model were applied. The applicability of these models if they are applied by external users of finan- cial statements who only have access to publicly accessible data was assessed.
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Uplatnění metod pro detekci kreativního účetnictví v oblasti stavebního průmyslu
Holčapek, Daniel
This thesis focuses on the analysis of financial statements in the construction in-dustry, exploring the potential for distortion within the context of Czech and in-ternational accounting standards, and proposes methods to minimize the risks associated with creative accounting in this sector. The research was centred on comparing accounting practices for long-term contracts in construction as per the Czech Accounting Standards (CAS) and the International Financial Reporting Standards (IFRS). This involved testing on a specific example to evaluate the key differences between these two systems. Addi-tionally, methods for detecting creative accounting were examined and applied to selected construction companies. The research also included professional discus-sions with several auditors and accounting professionals in construction compa-nies. The findings of this work suggest that some construction companies en-gage in creative accounting practices. Creative accounting is often employed in the Czech accounting environment for various reasons. Significant differences have been identified between the accounting reporting as per Czech standards and IFRS. This situation highlights the need for a revision of the Czech accounting standards, as affirmed by the opinions of the professionals consulted.
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Creative techniques in accounting and their impact on a true and fair view
KŘÍŽOVÁ, Denisa
Subject of this diploma thesis is "Creative accounting techniques and their impacts on true and fair view". The aim is to present the mostly used creative accounting techniques (listed in the theoretical part) and evaluation of their repercussions on financial statements and true view of accounting. Concepts of creative accounting are defined in the theoretical part same as reasoning and circumstances which lead to utilization of creative accounting. These are followed by advantages and disadvantages of such deeds. Following factual part is devoted to an analysis of a specific company and its economic results in the last 5 years. Together with analysis of the company also risks of the concerned industry are examined. Beneish and CFEBT models are used to actually check the true and fair view on the company's financial statements. To really demonstrate the impacts of the creative accounting techniques listed in the theoretical part these were used and implemented on year 2018 financial statements of the XY company. Results of the analysis are compared with the actual numbers and figures while also considering their impact on true and fair view of the company's financial statements.
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Decision making of the user of the financial statements about the financial position of the enterprise
VALDMANOVÁ, Dominika
The financial health of a company is important for the decision-making of a financial statement user for various reasons. It may be important for future investors to decide if they can invest in the company. In addition, it may also be important for a bank to decide whether the company can provide a credit. However, there are other cases where the user needs to know if the company is financially health. For this evaluation, there are selected the methods used to detect and evaluate the manipulation of financial statements. As these methods are selected the CFEBT model, the Beneish model and the Jones model of non-discretion accrual. Creditworthy models are used to determine whether the company is making any value for the future and there is any danger of bankruptcy. The creditworthiness index, the Tamari model and the IN05 model are selected as these models. In the diploma thesis, these methods are applied in six companies. There are the parent company named ABC a.s. and its five subsidiaries named with Roman numerals I-V. Names of companies are invention. In the practical part of the diploma thesis, the companies are analysed according to individual models and then there is determined the influence of subsidiaries on the parent company according the correlation coefficient. In the end the hypotheses are confirmed or refuted. The first hypothesis says that the whole consolidation unit is financially health. The second hypothesis assumes that the results of subsidiaries influence the results of parent company positively.
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Risk management options for accounting errors and accounting fraud
ŠÍMA, Pavel
The topic of the thesis is " Risk management options for accounting errors and accounting fraud". The accounting should correspond to the actual situation, which should be displayed in a comparable manner and with the prescribed accounting methods. All financial statement items must be displayed faithfully and fairly. Honesty is associated with the use of accounting methods. When an entity uses accounting methods correctly, it can be stated that accounting is not only true but also fair. However, there are different valuation methods, and each method can lead to a different result. Therefore, it can be assumed that in practice there may also be purposeful manipulation. The aim of this thesis is to determine by means of detection models whether there are accounting manipulations with accounting statements for companies that have transport as their main activity according to CZ-NACE and at the same time evaluate the ability to detect accounting manipulations of these models. For detection and evaluation of possible accounting manipulations, selected detection models were used - Jones's non-discriminatory accrual, Beneish model and CFEBT model. As a complement to the detection model, the modified Taffler model, and the IN99 model were counted to determine the financial health of the entities in the sample.
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