Search

According to statistics, the indebtedness of Czech households has been on the rise since 2000, while a broadening supply from the financial sector, the growing standard of living (which is connected with debt financing of housing) and the tendency to favour a consumer lifestyle have contributed to the growing volume of credits. The aim of our survey is to ascertain the extent to which creditors of debtors in debt relief are satisfied. A sample of insolvency proceedings permitted in 2008 was surveyed. Of these insolvency proceedings, we selected personal bankruptcies which underwent the five-year repayment period required by the insolvency act. A situation emerges in which we can for the first time evaluate the success of creditors satisfaction on the basis of concrete data which we gained from the insolvency register. On the basis of a survey, it was found that individual creditors are satisfied to 50 % of their ascertained receivables. The given initial finding is interesting especially in view of the fact that the law itself prescribes a 30 % minimal limit of satisfaction for debtors. Further, the survey focused on the problem of securing receivables. The insolvency act has markedly changed the position of the creditor which secures its receivable by some form of collateral. A secured receivable can be monetized during the course of insolvency proceedings, and following the deduction of connected expenses the entire proceeds from the monetized property belong to the secured creditor. By contrast, in a case of personal bankruptcy a non-secured creditor is satisfied according to a percentage in a payment schedule. We surveyed especially the proportion of secured receivables and the form of collateral. From the data it stemmed that 19.62 % of receivables are secured with the debtor's property, most frequently a house, plot of land, flat or other form of collateral.

The article concerns deferred tax and its significance for the information capability of the financial statement. Temporary differences between accounting and tax rules are the cause of the formation of deferred tax. The accounting and recognition thereof stems from generally accepted accounting principles. The accrual principle, the principle of caution and that of the functioning of the accounting entity in the foreseeable future are at issue. The majority of small and medium-sized enterprises are not obliged to account for and recognize deferred tax, although they may do so, and it is desirable from the perspective of faithful representation of the financial situation of the accounting entity. The conducted investigation in the form of a questionnaire survey ascertained whether accounting entities recognize deferred tax. If not, for what reasons; and if so, from which temporary differences they ascertain it.

The article concerns deferred tax and its significance for the information capability of the financial statement. Temporary differences between accounting and tax rules are the cause of the formation of deferred tax. The accounting and recognition thereof stems from generally accepted accounting principles. The accrual principle, the principle of caution and that of the functioning of the accounting entity in the foreseeable future are at issue. The majority of small and medium-sized enterprises are not obliged to account for and recognize deferred tax, although they may do so, and it is desirable from the perspective of faithful representation of the financial situation of the accounting entity. The conducted investigation in the form of a questionnaire survey ascertained whether accounting entities recognize deferred tax. If not, for what reasons; and if so, from which temporary differences they ascertain it.

According to statistics, the indebtedness of Czech households has been on the rise since 2000, while a broadening supply from the financial sector, the growing standard of living (which is connected with debt financing of housing) and the tendency to favour a consumer lifestyle have contributed to the growing volume of credits. The aim of our survey is to ascertain the extent to which creditors of debtors in debt relief are satisfied. A sample of insolvency proceedings permitted in 2008 was surveyed. Of these insolvency proceedings, we selected personal bankruptcies which underwent the five-year repayment period required by the insolvency act. A situation emerges in which we can for the first time evaluate the success of creditors satisfaction on the basis of concrete data which we gained from the insolvency register. On the basis of a survey, it was found that individual creditors are satisfied to 50 % of their ascertained receivables. The given initial finding is interesting especially in view of the fact that the law itself prescribes a 30 % minimal limit of satisfaction for debtors. Further, the survey focused on the problem of securing receivables. The insolvency act has markedly changed the position of the creditor which secures its receivable by some form of collateral. A secured receivable can be monetized during the course of insolvency proceedings, and following the deduction of connected expenses the entire proceeds from the monetized property belong to the secured creditor. By contrast, in a case of personal bankruptcy a non-secured creditor is satisfied according to a percentage in a payment schedule. We surveyed especially the proportion of secured receivables and the form of collateral. From the data it stemmed that 19.62 % of receivables are secured with the debtor's property, most frequently a house, plot of land, flat or other form of collateral.

In the last few years, the number of filed insolvency proposals has been constantly growing, which reflects the current economic situation. This article concerns the incidence of personal bankruptcies and their settlement (through debt relief) in the Czech Republic, especially in the Moravian-Silesian region, specifically in the Karvin region. This is a locality where the incidence of personal bankruptcy and its settlement through debt relief is among the highest in the Czech Republic. One of the reasons for this state is the composition of the population, which moved to this locality for work. A large part of the observed debtors had only attained primary education or are only trained. Their financial literacy is not of an adequate level, so they are cannot be aware of the risks stemming from borrowing money or anticipate the consequences arising from leaving their liabilities unfulfilled. The debtors borrowed money without prior consideration as to whether they would be able to return the borrowed money including interest. In this way, they got caught in a debt spiral insofar as they attempted to pay their present debts by closing further loan agreements under unfavourable conditions with financial institutions that are not under the supervision of the Czech National Bank. The Insolvency Act settles citizen over-indebtedness through debt relief. If the debtor fulfils conditions prescribed by the state, the debtor can after 5 years rid itself of its theretofore unpaid debts. From the undertaken survey it follows that men predominate among debtors in debt relief. The largest group is made up of men between 35 to 45 years of age. Among women, the most indebted age group is up to 35 years of age. Working pensioners, who have an assured regular, stable income which they cannot lose insofar as it is paid by the state, are the most reliable from the perspective of the relative extent to which creditor demands are satisfied.

Z důvodu nadnárodní účetní harmonizace lze v posledních letech vysledovat odklon od tradičního oceňování na bázi historických cen směrem k vykazování v reálných hodnotách. Tento trend je v českém účetnictví zejména aplikován na oblast oceňování a vykazování cenných papírů. Cílem tohoto příspěvku je zhodnotit stávající stav využití cenných papírů malými a středními podniky, zhodnotit jejich schopnost ocenit tyto finanční nástroje a v neposlední řadě provést komparativní analýzu českých účetních pravidel s pravidly nadnárodními, konkrétně pak Mezinárodními standardy účetního výkaznictví (IFRS)., Due to the harmonization of international accounting in recent years, there has been a declining trend from historical costs accounting towards a fair value measurement. This changing trend is more applicable particularly for the measurement and reporting of financial securities in the Czech Republic. The purpose of this paper is to analyze the current state in the use of financial securities by Small and Medium-sized enterprises, to assess their abilities to valuate these financial instruments, and finally, to prepare a comparative analysis of the Czech accounting treatment and the International Financial Reporting Standards (IFRSs).

Z důvodu nadnárodní účetní harmonizace lze v posledních letech vysledovat odklon od tradičního oceňování na bázi historických cen směrem k vykazování v reálných hodnotách. Tento trend je v českém účetnictví zejména aplikován na oblast oceňování a vykazování cenných papírů. Cílem tohoto příspěvku je zhodnotit stávající stav využití cenných papírů malými a středními podniky, zhodnotit jejich schopnost ocenit tyto finanční nástroje a v neposlední řadě provést komparativní analýzu českých účetních pravidel s pravidly nadnárodními, konkrétně pak Mezinárodními standardy účetního výkaznictví (IFRS)., Due to the harmonization of international accounting in recent years, there has been a declining trend from historical costs accounting towards a fair value measurement. This changing trend is more applicable particularly for the measurement and reporting of financial securities in the Czech Republic. The purpose of this paper is to analyze the current state in the use of financial securities by Small and Medium-sized enterprises, to assess their abilities to valuate these financial instruments, and finally, to prepare a comparative analysis of the Czech accounting treatment and the International Financial Reporting Standards (IFRSs).