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Overview: Transformation into a smart factory has a soft side related to people, their motivation, perception, and skills. This study aims to examine staff perceptions about advantages, disadvantages, and barriers that challenge such transformation, and possible supporting measures. Our analysis of a company in a highly competitive manufacturing industry revealed the importance of the human element in the transition to a smart factory. Companies can facilitate the transition by ensuring all employees are aware of and understand the vision and implementation; by engaging with employees to learn about their thoughts and concerns; and by providing opportunities for employees to learn new skills for smart factory jobs. We offer recommendations to help practitioners succeed in transitioning to a smart factory. [ABSTRACT FROM AUTHOR]

Account receivables constitute a significant portion of current assets, and the issue of receivables management is studied from many aspects and in many different contexts and levels. The purpose of this paper is to analyse the use of the prudence principle in the account's receivables area in Czech companies. This research paper aims to evaluate the view of enterprises whether they are willing to make impairment of receivables, what types of impairment they prefer, and how they assess the impairment of receivables. The research was done through a questionnaire survey. We received a total of 185 completed questionnaires. The research was done in 2019 in enterprises from the Czech Republic. Our results show that the enterprises make the impairment of receivables regardless of their sector. The impairment of receivables is more preferred in medium-sized and large enterprises. The medium-sized and large enterprises prefer a combination of tax and non-tax impairment of receivables. At the same time, the medium-sized and large enterprises more appreciate the impairment of receivables as a percentage of the value of particular receivable. [ABSTRACT FROM AUTHOR]

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. [ABSTRACT FROM AUTHOR]

Accounting is a tool of evidence for reporting assets, equities, liabilities, expenses, revenues and profits or losses of the accounting unit. This information is collectively presented in financial statements, which are an essential source of information for external subjects. Nevertheless, the resulting financial statements are relevant only to the extent to which the information charged in the accounting is correct and error-free. For this reason, the aim of this article is to examine the individual areas recorded in accounting in terms of their possible bias due to an error. The objective of this article is to determine which of the areas of accounting are riskiest in relation to the occurrence of errors, and this in connection to the existence of an important foreign partner of the accounting unit. The risk of of the error occurrence is examined from the accountants' perspective. For this purpose, a questionnaire survey was used for data collection focusing on areas that are considered to be the most important by the accountants and the areas which are the most problematic. The receivables, expenses and revenues were indicated as the most significant. The areas of long-term assets, financial assets and inventories appear to be problematic due to tax impacts. Expenses, revenues, accruals and deferrals appear to be problematic due to issues with correct valuation. The difference in perception of risk of the error occurrence in relation to the existence of a foreign business partner was proven only for some accounting areas such as liabilities, inventories or expenses. [ABSTRACT FROM AUTHOR]

Purpose of the article: The adverse economic situation in the Czech Republic has elicited a rising number of proposals to commence insolvency proceedings. Insolvency proceedings are resolved by the insolvency act from January 2008. The longer the duration of insolvency proceedings, the higher are their costs, which reduce gained yields. Methodology/methods: Research is focused on the area of small and medium-sized enterprises. The research was based on a questionnaire survey in which representatives of small and medium-sized enterprises in the Czech Republic were addressed. The questionnaire contained 18 closed questions. The research results are evaluated and presented through a graphical representation. Scientific aim: The article aims to gain information from representatives of small and medium firms as to how they settle overdue receivables, how they enforce them, whether they have had experience with an arbitration clause and whether they have been participants in insolvency proceedings. Findings: Research has demonstrated that small and medium enterprises, for the most part, do not include an arbitration clause in purchase agreements. Small and medium enterprises tend to utilize court enforcement of receivables in exceptional cases and do not ascertain receivables of a subject in insolvency proceedings. They mostly enforce their irrecoverable receivables themselves. The relative amount of transaction costs connected with enforcement of receivables is in the vicinity of 1 to 5%, and only a small part (1 to 5%) of the volume of overdue receivables in insolvency proceedings are truly successfully enforced. Conclusions: The course of insolvency proceedings can be considered to be an urgent problem in need of a solution, as the longer the duration of insolvency proceedings, the higher the costs for the parties involved and the lower the total amount recovered. [ABSTRACT FROM AUTHOR]

Despite a general assumption that knowledge sharing among employees is vital for achieving a competitive advantage, only limited evidence has been provided to support it. This article examines the relation between knowledge sharing and three dimensions of organizational performance: innovativeness, financial performance and the use of human recourses. The study uses data from a sample of 112 employees from the Czech Republic. The findings provide evidence that knowledge sharing is significantly related to organizational innovativeness, employees' engagement, and the perceived benefits of knowledge sharing. However, there was no statistically significant correlation between knowledge sharing and financial performance. The results highlight that if a competitive advantage is built on innovativeness, then bilateral communication between supervisors and their subordinates, including the communication of the top management's intentions and employees' ideas, is essential because it facilitates knowledge sharing among employees. [ABSTRACT FROM AUTHOR]