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The Fair and True View of Business Unit in the Financial Statements
Němec, Petr ; Ondroušková, Renata (referee) ; Fedorová, Anna (advisor)
The diploma thesis deals with the issue of the fair and true view of business unit in the financial statements. The basic statements of the financial statements comprise the balance sheet, the profit and loss statement and the annexe to the financial statements explaining methods used for accounting of the accounting cases. The practical part of the diploma thesis is focused on analysis of the financial statements of particular entity and applied accounting procedures. The analysis of this unit was carried out focusing on achievement of fair and true view of this unit in the financial statements. The financial position and performance of the selected business unit was evaluated on the basis of selected financial indicators according to the unit's data and its own calculations. The results were compared and evaluated.
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Impacts of Selected Changes in Accounting Legislation on Reporting and Comparison of Data
NOVÁKOVÁ, Lucie
The thesis deals with the evaluation of changes in accounting legislation in relation to the informative ability of accounting. In particular, these changes are: - Canceling Reporting Item Separation Reporting alone - Changes in accounting for provisions - Accounting for activation and inventory of own activity - Categorization of entities and related obligations - Cancellation of extraordinary costs and revenues - Amendment to the regulations governing the auditor's audit of financial statements - Canceling the separate reporting of the Trade Margin item As the Czech Republic is a part of the European Union, it is impossible to ignore the effort to unify repor-ting, which is intended to improve the readability of financial statements for users from other countries. The work includes an evaluation of changes from the perspective of various authors and the professional public. Selected statements are verified on selected businesses. The ongoing small legislative adjustments do not fully meet the needs of current businesses, the concept of the new form of accounting, which is currently presented to the professional public for discussion, indicates the future direction of Czech ac-counting. An equally important part of the thesis is the analysis of the questionnaire, which seeks to gain the opinion of the professional public on the issue.
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The Fair and True View of Business Unit in the Financial Statements
Němec, Petr ; Ondroušková, Renata (referee) ; Fedorová, Anna (advisor)
The diploma thesis deals with the issue of the fair and true view of business unit in the financial statements. The basic statements of the financial statements comprise the balance sheet, the profit and loss statement and the annexe to the financial statements explaining methods used for accounting of the accounting cases. The practical part of the diploma thesis is focused on analysis of the financial statements of particular entity and applied accounting procedures. The analysis of this unit was carried out focusing on achievement of fair and true view of this unit in the financial statements. The financial position and performance of the selected business unit was evaluated on the basis of selected financial indicators according to the unit's data and its own calculations. The results were compared and evaluated.
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Possibilities of detection risk of fraud and accounting errors in terms of Czech accounting standards
ČERVENKOVÁ, Klára
The aim of the master thesis is to analyze the accountancy of the selected business entity in order to evaluate the risk of accounting errors and frauds in individual accounting areas and to determine the possible impact on financial statements. Head Sport s. r. o. is a chosen company for this master thesis and this company is based in České Budějovice. The analysis is based on real data and knowledge of the entity. The financial statements according to Czech Accountancy Standards will be analysed for 7 accounting periods (2011-2017). At the same time, the model will be applied to the consolidated and individual financial statements (2010-2014) of the parent company Head N.V. based in the Netherlands. The most significant and most problematic areas are leasing, receivables from controlled and managed entities, payables to controlled and managed persons and the area of sales which relates to leasing. At the same time, the very limited reporting capacity of financial statements according to Czech Accountancy Standards has been confirmed for users of these data.
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Creative Accounting Techniques - Aspects of the Presentation of Financial Statements Prepared in Accordance with International Financial Reporting Standards
ŠVAMBERK, David
The topic of this diploma thesis is "Creative Accounting Techniques - Aspects of the Presentation of Financial Statements Prepared in Accordance with International Financial Reporting Standards". The aim of this thesis is to assess whether the selected entity has shown indicators of possible creative accounting in the context of publicly available financial statements compiled according to IFRS in comparison with Czech Accounting Standards and the subsequent assessment of acquired differences of both accounting approaches. For such assessment, selected detection models are used the Beneish model, the CFEBT model, and Jones Nondiscretionary Accruals. Moreover, there were calculated other two models Altman's Z-score and the Bonity Index. The diploma thesis is focused on the explanatory power of financial statements for stakeholders (or other external users) which has significant influence on their economic decision making. This work analyses issued and audited financial statements from the user's perspective who does not have any access to more detailed supporting documentation. The diploma thesis is divided into three main parts. The first part is the theoretical over-view of creative accounting. This part describes definitions, history, causes, effects, and techniques of creative accounting, as well as there are mentioned detection models which may help to identify manipulated financial statements. There are also presented bankruptcy and solvency models used for a financial analysis of the selected entity. The second part, methodological, contains the procedures and calculations of selected models used for the further analysis of creative accounting. The third part is devoted to evaluate the results of creative accounting analyses. In conclusion, there is commented the possible occurrence of creative accounting in the entity's financial statements and the explanatory power of both accounting systems.
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The accounting and jurisdiction practices of the Supreme Audit Institution
Hanselová, Aneta ; Králíček, Vladimír (advisor) ; Roubíčková, Jaroslava (referee)
The aim of the following thesis reflects current trends in public sector accounting and subsequent audit of public sector entities's financial statements. The main principles of accounting are desribed in order to determine how the financial statements are used during controls and audits. In this context the Supreme Audit Institution is introduced as an independant institution practicing external audit in public sector. For this purpose the SAI's control reports reflected the financial audit of the selected public sector entities will be analyzed.
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Influence of Selected Accounting Principles on the Financial Statement Closing Process
Krejzlová, Darina ; Vácha, Petr (advisor) ; Pelák, Jiří (referee)
This thesis is concerned with generally accepted accounting principles in the Czech Republic. Emphasis is laid on the application of these principles to a well-defined set of steps that must be followed when preparing a closing financial statement. A secondary aim of this study is to evaluate current legislative measures in terms of how sufficient they are for the proper use of the principles in the Czech Republic. These measures are compared with international accounting standards. In order to accomplish the objectives, theoretical knowledge was gathered, and then applied to specific cases, which are described in the comments section. The second part is supplemented with a comparison of Czech and international legislation, emphasizing the main differences and drawbacks that may influence the application of the accounting principles. The conclusion provides a summary of research findings.
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Creative accounting methods, models and their use
KLEČKOVÁ, Jitka
The aim of this work is to formulate the most famous creative accounting techniques in relation to selected items of financial statements, including their impact, and further to evaluate selected creative accounting models. These models are used for detection of possible manipulation in reported accounting data. The aim is also to determine their potential as well as their limitations. The thesis is divided into two parts. The first part deals with the essence of creative accounting. The second part provides an analysis of selected items of financial statements in relation to the creative accounting practices. The thesis also includes a case study that addresses the issue of the identification of manipulated financial statements. Financial statements are an important source of information. When the data contained in them are modified, they supply inaccurate and false information. Then this fact may have a significant impact on users´ decision.
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Creative accounting of small enterprises
Hübnerová, Eva ; Procházka, David (advisor) ; Molín, Jan (referee)
The diploma thesis deals with the creative accounting of small enterprises in the Czech accounting practice. Natural effort of companies is a tax reduction. Therefore the techniques of creative accounting in the thesis are divided by whether the company is trying to manipulate the accounting data for tax or non-tax reasons. Theoretical description of techniques of creative accounting is completed cases of findings the tax offices. In conclusion of the thesis there are suggested possible solutions to avoid creative accounting.
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Creative accounting
Lukačková, Petra ; Polák, Martin (advisor) ; Procházka, David (referee)
This bachelor thesis deals with the problem existing in the world-creative accounting which leads to a violation of true and fair view of accounting and provides users of financial statements misleading. The thesis is togather as much information as possible on the issue, describe the concept of creative accounting and its origin, define the major causes and techniques. Finally, in order to define the boundaries of accessible creative accounting, impacts and possible sanctions.
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