Modernization of study occasions and raise of education quality at SU Opava

Modernization of study occasions and raise of education quality at SU Opava, started in the year 2006, continuous demands of educational programmes innovation at Silesian University are being discussed and solved. These demands arise primarily due to information and communication technology development., adaptation the new conditions (on the view of the development of accounting, Czech Accounting Standards, International Accounting Standards - IAS/IFRS. The changes needed evoke continuous qualification raise of teaching staff involved.Financial Accounting, Accounting Statements, The Modification of the Structure of Subjekt Accounting, The Professional Association, Aplication Tudory and work.

Analysis of the Legal and Entrepreneurial Environment in the Czech Republic

During the process of preparation for joining the EU as well as after it small and medium enterprices can encounter a lot of problems at account operation and obtaining key financial information.Small and medium enterprises cannot operate accounts and draw up financial statements on a basis of standards designed for big enterprises. Small and medium enterprises should run double-entry bookkeeping on accrual basis, which should not contradict the elementary rules of international accounting standards, and the users of which should be in particular the management, creditors and the tax office.Z(MSM 265300021

Modernizace studijních příležitostí a zkvalitňování vzdělávání na Slezské univerzitě v Opavě

Modernization of study occasions and raise of education quality at SU Opava, started in the year 2006, continuous demands of educational programmes innovation at Silesian University are being discussed and solved. These demands arise primarily due to information and communication technology development., adaptation the new conditions (on the view of the development of accounting, Czech Accounting Standards, International Accounting Standards - IAS/IFRS. The changes needed evoke continuous qualification raise of teaching staff involved

Factors influencing true and fair view when preparing financial statements under IFRS: evidence from the Czech Republic

Research background: Accounting records provide a wide range of data necessary for decisions of the management as well as for users of a company's financial statements. IFRS represents one of the widely accepted accounting principles, often mentioned in relation to the preparation of high-quality financial statements. Purpose of the article: The aim of this paper is to identify the factors contributing to the occurrence of misstatements when preparing financial statements under IFRS. The subsequent goal is to identify the possible influences of such misstatements on the users of the financial statements. Methods: The research itself focuses on perceived problems in IFRS application in the Czech Republic. The total tested population is 193 Czech companies preparing their financial statements under IFRS. Descriptive statistics, the chi-square test of independence along with proportional tests, are used for the statistical data analysis. Findings & Value added: The results indicate that, while misstatements in accounting do not occur regularly, a statistical dependence can be shown between the frequency of misstatements occurrence and the average size of misstatements. The frequency of the subsequently identified misstatements is also proven to be statistically dependent on the average size of misstatements. The IFRS themselves are not proven to influence misstatement occurrences in financial statements, which is in contrast with previous studies. Managerial pressures, similarly to other studies, are proven by the research to be affecting the quality of accounting information. This paper broadens the literature on the factors influencing the quality of financial statements prepared under IFRS and simultaneously reaches conclusions disproving the frequently noted benefits of IFRS implementation

Impact of reporting of deferred tax on sustainable development of a counry: Case of Czech Republic

Achievement of high quality of accounting information in financial statements requires thorough adherence to generally accepted accounting principles. In connection with deferred tax, this concerns especially the prudence principle and the going concern principle. The deferred tax also has an impact on fiscal sustainability in any given country. The aim of this contribution is to evaluate how information about deferred tax is reported by small and medium sized enterprises in Czech Republic and evaluate quality of such reporting. The research was conducted in the form of a questionnaire survey concerning recognition of deferred tax among accounting units which prepare their financial statements according to IFRS or according to Czech accounting standards. The entities that stated in the questionnaire that they recognize deferred tax were further analysed in more detail. The survey revealed that the standard does not take into consideration that small and medium-sized enterprises would not have to account for deferred tax. The research clearly showed the unwillingness of accounting entities to recognize deferred tax voluntarily. © 2018, General Jonas Zemaitis Military Academy of Lithuania

Towards financial sustainability of companies: Issues related to reporting errors

The aim of the paper is to analyse the opinion of enterprise representatives upon the risk of errors occurrence in selected areas of accounting. Research presented in this paper explains the view of enterprise accountants upon the risk of errors occurrence, both unintentional and intentional, aimed towards the creation of so called "creative accounting". The research itself, done on a sample of 232 Czech enterprises, was based on questionnaire investigation which focused on perception of problematic areas influencing the quality of accounting information. The obtained set of data was evaluated using descriptive method and mathematical/inference statistics. Special testing was done at hypotheses on concordance of two mean values and at the Friedman test. Evaluation of problematic rates of individual areas of accounting revealed that practically each observed area of accounting is connected with specific difficulties. The major causes of problems are tax impacts, namely in the area of the cost, time differentiation and of revenues and also difficulty in pricing, especially in the area of inventories and fixed and financial assets. High respondents' concordance on rating individual accounting areas as to the risk of an error occurrence was detected. It stemmed from the research that the risk of formation of unintentional errors is subjectively rated as the highest in the areas of conjectural and adjusting items and the lowest at asset and depreciation classification. Rating the space for intentional distortion of accounting statements indicates a very reserved attitude of the respondents. The results have proved that in the respondents' opinion practically all areas of accounting give space for occurrence of errors. The results of the research provided a somewhat different perspective on the issue of accounting errors in comparison with results published by other authors who used objective assessment of error rate as a departure point

Relationship between legislation and accounting errors from the point of view of business representatives in the Czech Republic

Research background: Previous studies have demonstrated that providing relevant information to users is positively affected by higher quality of accounting standards and adhering to ethical rules and accounting principles by accounting professionals. On the other hand, there are a lot of cases when the law was broken. The most common reason for committing financial statement's fraud include increasing stock prices, getting loans from bank or avoiding payment of taxes. Purpose of the article: The aim of this paper is to evaluate both the relationship between using of legislation and accounting errors rate in the financial statements as well as the possible using of creative accounting from the point of view of enterprises and non-profit organizations in the Czech Republic. Methods: Among the quantitative research methods the questionnaire was used. The questionnaires were sent out to randomly 201 selected enterprises and non-profit organization. The survey was conducted from September 2017 to the end of January 2018. The data were analyzed by means of the tools of descriptive statistics and the chi-square goodness of fit test. The research questions sought to investigate whether Czech Accounting Standards helped in all areas of accounting and reporting and avoiding of errors in financial statements, and whether the respondents encountered fraudulent procedures in compiling financial statements. Findings & Value added: The results indicated that using Czech Accounting Standards was perceived as a useful tool in solving all situations in areas of accounting and avoiding accounting errors. Moreover, it was proved that the volume and frequency of errors were not significant in financial statements.Internal Grant Agency of University [IGA/FaME/2018/014

Modernizace studijních příležitostí a zkvalitňování vzdělávání na Slezské univerzitě v Opavě

Modernization of study occasions and raise of education quality at SU Opava, started in the year 2006, continuous demands of educational programmes innovation at Silesian University are being discussed and solved. These demands arise primarily due to information and communication technology development., adaptation the new conditions (on the view of the development of accounting, Czech Accounting Standards, International Accounting Standards - IAS/IFRS. The changes needed evoke continuous qualification raise of teaching staff involved