scholarly journals Intangible Assets Reporting: the Case of Chemical and Pharmaceutical Industry in the Czech Republic

2018 ◽  
Vol 66 (2) ◽  
pp. 431-439
Author(s):  
Hana Bohušová ◽  
Patrik Svoboda
Keyword(s):  
Czech Republic ◽  
Pharmaceutical Industry ◽  
Intangible Assets ◽  
Stock Exchange ◽  
Financial Statement ◽  
The Czech Republic ◽  
Business Entities ◽  
The Cost ◽  
Changes Over Time ◽  
The Impact

The cost structure of business entities has been changing in the span of time. Costs associated with intangible assets such as software, patents, licenses, copyrights and goodwill became an important item of costs in the recent days. The paper is focused on the evaluation of the share of intangible assets in total assets and the costs associated with intangible assets in business companies operating in the chemical and pharmaceutical industry in the Czech Republic. The analyzed sample of companies represents two groups of business entities: entities preparing financial statements in accordance with IFRS and the entities preparing financial statement according to the Czech Accounting legislation (CAL). The sample covers period after the mandatory implementation of IFRS for listed companies - starting in 2005 and ending in 2015. The aim of this paper is to evaluate the impact of intangible assets reporting methodology using criteria as the share of this category in assets of companies, its structure and its changes over time and to identify possible reasons for this situation. The analysis revealed that there is an increasing tendency in volume of IAs in companies listed in Prague Stock Exchange.

scholarly journals Cost Control and Profitability of Selected Manufacturing Companies in Nigeria

2019 ◽  
Vol 2 (1) ◽  
pp. 14-33
Author(s):  
Godwin Emmanuel Oyedokun ◽  
Amos Olafusi TOMOMEWO ◽  
Sunday Ajao OWOLABI
Keyword(s):  
Cost Control ◽  
Raw Materials ◽  
Stock Exchange ◽  
Negative Relationship ◽  
Sampling Technique ◽  
Financial Statement ◽  
Manufacturing Companies ◽  
Significant Negative Relationship ◽  
The Cost ◽  
The Impact

Profitability in manufacturing companies in Nigeria depends on the ability of the companies to grow their earnings and tame their cost profile through cost control techniques. Many manufacturing companies seem not to understand these costs and the impact they have on profitability. This study examined the effect of cost control on the profitability of selected manufacturing companies in Nigeria. The population of the study was the 78 manufacturing companies listed on the Nigeria Stock Exchange as at 31st December 2017. A sample frame of 23 companies listed on the consumer goods sector was selected out of which five companies were considered for a period of 10 years (2005 – 2017). The study adopted a judgmental sampling technique. Data were obtained from the audited financial statement, and the accounts have already validated by regulatory authorities. The study took descriptive and inferential (regression) statistics. It was found that there is a significant negative relationship between the cost of raw materials (CoRM) and profit before tax of manufacturing companies in Nigeria. The study concluded that cost control has a significant positive effect on the profitability of manufacturing companies in Nigeria for the period under review. Therefore, it is recommended adequate management and alternative sourcing of raw materials.

scholarly journals Cluster performance management

ACC Journal ◽  
2020 ◽  
Vol 26 (2) ◽  
pp. 94-100
Author(s):  
Natalie Pelloneová
Keyword(s):  
Czech Republic ◽  
Financial Performance ◽  
Performance Management ◽  
Public Support ◽  
Top Down ◽  
Cluster Performance ◽  
The Czech Republic ◽  
Business Entities ◽  
High Degree ◽  
The Impact

The presented article is based on research evaluating the impact of cluster organisations on the financial performance of member entities. The author’s doctoral thesis examines whether there is a difference in the financial performance of cluster organisations created through the bottom-up and the top-down approaches, under the conditions existing in the Czech Republic. Both types of clusters that meet the condition of maturity (established before or in 2012) and of a high degree of activity were selected for the research. The financial performance of member business entities was assessed using the following indicators: ROA, ROE, ROS, EVA, EVA/employee and EVA/sales. The aim of the research was to demonstrate whether public support for clusters would be reflected in member entities’ better financial performance. The final part of the paper then summarises and discusses the findings.

scholarly journals Goodwill’s Accounting Practices in Belgium and Compliance with IAS 36 Required Disclosures

2019 ◽  
Vol 12 (3) ◽  
pp. 139
Author(s):  
Julius Gaël Tchatchou Tchaptchet ◽  
Olivier Colot
Keyword(s):  
Intangible Assets ◽  
Stock Exchange ◽  
Balance Sheet ◽  
Financial Statement ◽  
Accounting Standard ◽  
Current Accounting ◽  
Great Heterogeneity ◽  
Separate Line ◽  
Required Disclosures ◽  
The Impact

This paper aims at studying the impact of the accounting treatment of goodwill on the mandatory disclosure required by the International Accounting Standard (IAS) 36 on the impairment test of goodwill. We use a sample comprising 79 companies listed on Brussels stock exchange to show that there is a great heterogeneity in current accounting treatment of goodwill. We identify two groups of companies: those that display the goodwill on a separate line in their balance sheet and those that integrate it in their intangible assets. For the later, the only way to notice the presence of goodwill is by looking at the financial statement’s notes presumably because those notes are expected to receive less scrutiny. Even if the compliance is not complete, the first group complies more with the paragraph 134 of IAS 36 than the other. Moreover, companies with a significant goodwill compared to both total assets and intangible assets are more compliant with IAS 36. The findings finally reveal that the notices issued by the Financial Service and Markets Authority (FSMA) have a limited impact on the disclosure level. There are some areas of improvement but others such as goodwill allocation to cash generating unit, determination of the recoverable amount, description of key hypothesis and the sensitivity test need more effort on compliance.

scholarly journals Subjective equivalence scales using EU-SILC panel data for Poland, the Czech Republic, and Hungary

2017 ◽  
Vol 67 (4) ◽  
pp. 585-604
Author(s):  
Leszek Morawski ◽  
Małgorzata Kalbarczyk-Stęclik ◽  
Rafał Miśta
Keyword(s):  
Czech Republic ◽  
Marginal Cost ◽  
Economies Of Scale ◽  
Equivalence Scales ◽  
The Czech Republic ◽  
Second Child ◽  
Minimum Income ◽  
Section Data ◽  
The Cost ◽  
The Impact

Equivalence scales are commonly employed in income analysis to compare the wealth of households of various compositions (e.g., 0-child, 1-child). The choice of weights for this type of analysis is not self-evident. In this paper, subjective equivalence scales for households in Poland, the Czech Republic, and Hungary are estimated. We use longitudinal EU-SILC data for 2005–2012 following the approach of Goedhart et al. (1977) as employed by Bishop et al. (2014). The use of longitudinal data shows that previous results on the subjective minimum income that were based on the OLS estimates for cross-section data overestimated the impact from current income and underestimated the role of economies of scale. Subjective equivalence scales imply a decreasing marginal cost of children in the three countries, which makes them distinct from the OECD scale. The marginal cost of a first child is similar to the values assumed in the OECD scale, but the cost of a second child is much lower.

scholarly journals The impact of audit opinion on cost of debt: Evidence from Vietnam

2021 ◽  
Vol 11 (1) ◽  
pp. 83-93
Author(s):  
Nguyen Vinh Khuong ◽  
Nguyen Thi Lan Huong ◽  
Vy Bao Chau ◽  
Nguyen Ton Huong Mai ◽  
Nguyen Le Cam Thi ◽  
...  
Keyword(s):  
Interest Rates ◽  
Negative Impact ◽  
Stock Exchange ◽  
Financial Statement ◽  
Cost Of Debt ◽  
Financial Reports ◽  
Audit Opinion ◽  
Listed Firms ◽  
The Cost ◽  
The Impact

We consider whether the category of audit opinion an enterprise receives is pertained to the cost of debt of Vietnam corporations and how does it impact them. Proceeding from the data collected from 80 listed companies in the Vietnam stock exchange in the period of 2007 - 2017, we used a quantitative method to demonstrate the negative impact of modified audit opinion on the cost of debt. When companies receive a modified opinion, they have to pay higher interest rates and have a shorter maturity. From the results, this paper suggests some implications for the financial statement disclosure of listed firms and regulators in order to contribute to the transparency of the financial reports.

scholarly journals Intangible asset tax depreciation in the Czech Republic

2011 ◽  
Vol 59 (7) ◽  
pp. 527-540
Author(s):  
Pavel Svirák ◽  
Karel Brychta
Keyword(s):  
Czech Republic ◽  
Intangible Assets ◽  
Comparative Method ◽  
Intangible Asset ◽  
The Czech Republic ◽  
Legislative Regulation ◽  
Tangible Asset ◽  
Short Time ◽  
The Impact ◽  
Tax Depreciation

This paper aims to familiarize readers with the legislative development of intangible asset tax depreciation in the Czech Republic since 1993. The paper is divided into several basic chapters, of which the main chapter describes and analyzes the development of legislation in three thus-existing legal modes regulating intangible asset tax depreciation (the periods 1993–2000; 2001–2004; 2004–2011). A separate sub-chapter deals with each of these three modes, which fundamentally differ in the concept of determining tax depreciations. For better clarity, changes in the legislation in question are described using tables. Over the first mentioned mode, i.e. the mode valid for assets acquired in the period 1993–2000, intangible asset tax depreciations were determined by the same manner as tangible asset tax depreciations. This period is characterized by gradual establishment (specification) of legislation that may be partially attributed to the stormy development of social conditions and the need for them to be reflected in law. For the period 2001–2003, standard amendments were contained in accounting regulations. The Income Tax Act (hereinafter ITA) did not contain an amendment of intangible assets and its depreciations. It merely determined that accounting depreciations of intangible assets were a tax expense. Nevertheless, changes also occurred in this short time period, which this paper will later address. Effective from 2004, legislation on intangible assets and their tax depreciations returned to the ITA. Changes came in this mode of determining depreciations as well; nevertheless, one may consider the current legislative regulation to be stabilized. Later in this paper for the selected category of intangible assets (software), the authors describe and assess the dependence of the portion of the entry price entering tax expenses in the form of tax depreciations on the year of acquiring intangible assets. To achieve the stated objectives, the comparative method was applied (used mainly to describe and assess how legislation developed) and the modeling method (establishing models describing the impact of legislative regulation on the tax expenses of taxpayers). When elaborating this paper, the authors also chose to use so-called paired logic methods.

scholarly journals Differences in financial statements of business entities in the Czech Republic

2013 ◽  
Vol 61 (2) ◽  
pp. 335-343 ◽  
Author(s):  
Jana Gláserová
Keyword(s):  
Czech Republic ◽  
Financial Reporting ◽  
Financial Statements ◽  
The United States ◽  
Financial Statement ◽  
Insurance Companies ◽  
The Czech Republic ◽  
Ministry Of Finance ◽  
Business Entities ◽  
The Individual

Ministry of Finance in the Czech Republic identifies and defines four types of accounting entities that are engaged in business activities. These are the “normal” business entities, business entities as banks, commercial insurance companies and health insurance companies. For each of these types of entities the Ministry of Finance issued relevant regulations that contain specific accounting policies arising mainly from the specifics of the scope of business activities of these entities. The effects of these specifics are ultimately shown also in the individual parts of the financial statement closing. In contrast the International Financial Reporting Standards (IFRS) and also generally accepted accounting principles of the United States (U.S. GAAP) are valid for all listed entities regardless of their size and scope of activities. The ongoing globalization of the world, transnational mergers and acquisitions of various companies brings the requirements for unification of accounting policies in order to achieve comparability of financial statements closing of companies from different countries, their transparency and completeness of published information in the individual countries. This paper deals with the definition of significant differences in the items of financial statement closing of different types of business entities in the Czech Republic and with the formulation of proposals for individual types of entities, which would contribute to easier orientation and grater comparability for the needs of different users of accounting information.

scholarly journals Reducing the Impact of the Global COVID-19 Pandemic on Business Entities in the Czech Republic from an Accounting and Tax Perspective

2021 ◽  
Vol 92 ◽  
pp. 01012
Author(s):  
Jana Hakalova ◽  
Sarka Kryskova ◽  
Yvetta Psenkova
Keyword(s):  
Czech Republic ◽  
Financial Stability ◽  
Value Added ◽  
Economic Life ◽  
The Czech Republic ◽  
Goods And Services ◽  
Global Pandemic ◽  
The Government ◽  
Business Entities ◽  
The Impact

Research background: The global pandemic declared by WHO on 11 March 2020 has had a widespread impact on the world economy, and the COVID-19 outbreak has severely affected economic life throughout the globalized world. Governments have taken various measures to support their economy and financial stability. The global restrictions on production and services, reduced demand for goods and services and this year’s cash-flow problems will certainly lead to a significant decline in their profits, especially for small and medium-sized companies. The COVID-19 pandemic has undoubtedly affected most business entities in the Czech Republic. Purpose of the article: The purpose of the paper is to describe, analyse and evaluate measures of the government of the Czech Republic, which aimed at reducing the impact of the pandemic on businesses in the Czech Republic. Methods: In the paper, classical types of scientific procedures were applied using theoretical and empirical methods which include description, analysis, synthesis, induction, deduction, comparison and evaluation and so on. Findings & Value added: The paper analyses the impacts of COVID-19 in the context of accounting measures from the perspective of Czech and international accounting regulations. The paper proposes a solution in the area of mandatory reactions of accounting entities to a completely unusual situation caused by the COVID-19 pandemic which should be mandatory and disclosed in the notes to the financial statements. Furthermore, the paper evaluates a set of measures in the field of taxation, wages and insurance premiums intended for business entities and their employees.

scholarly journals The Reducing Hospital Costs through Horizontal Integration

2020 ◽  
Author(s):  
Pavla Staňková ◽  
Šárka Papadaki ◽  
Ján DVORSKÝ
Keyword(s):  
Czech Republic ◽  
Hospital Costs ◽  
Horizontal Integration ◽  
The Czech Republic ◽  
Hospital Managers ◽  
Cost Behavior ◽  
Statistical Survey ◽  
The Cost ◽  
The Impact ◽  
Central Purchasing

Background: This paper investigated the impact of hospitals´ horizontal integration in the Czech Republic on the cost behavior. The aim of the research was to examined the hospitals costs in specific environment of region hospitals at NUTS 3 level (Nomenclature of Units for Territorial Statistics) – Administrative Regions. Methods: The survey was conducted in the period from April to August 2016 in the Czech Republic. The research was divided into two parts. The first part was based on data obtained from the Institute of Health Information and Statistics of the Czech Republic. We used Statgraphics Centurion XVII for the descriptive statistics and data visualization. Second part of the results was obtained through a survey research focused on managers of the horizontal integrated hospitals and their experiences with the cost behavior. Results: The results from statistical survey showed that up to 80 percent of the observed region hospitals at NUTS 3 level, the cost of treatment for a patient per day has decreased after integration into an association. Based on primary survey, 73% hospital managers confirm these results and see one of the advantages that it is possible to reduce costs through integration of hospitals. The largest savings, according to hospital managers, are due to central purchasing and investments, together and they have a better negotiation position with suppliers. Conclusion: We can confirm that horizontal integration of hospitals can lead to reduction of costs and higher efficiency, in the specific environment of region hospitals at NUTS 3 level.

scholarly journals Assessing Habitat Vulnerability and Loss of Naturalness: Applying the GLOBIO3 Model in the Czech Republic

2021 ◽  
Vol 13 (10) ◽  
pp. 5355
Author(s):  
Vilém Pechanec ◽  
Ondřej Cudlín ◽  
Miloš Zapletal ◽  
Jan Purkyt ◽  
Lenka Štěrbová ◽  
...  
Keyword(s):  
Land Use ◽  
Czech Republic ◽  
Habitat Quality ◽  
Species Abundance ◽  
Biodiversity Loss ◽  
Infrastructure Development ◽  
Natural Habitats ◽  
The Czech Republic ◽  
New Equation ◽  
The Impact

Global and regional biodiversity loss is caused by several drivers including urban development, land use intensification, overexploitation of natural resources, environmental pollution, and climate change. The main aim of our study was to adapt the GLOBIO3 model to the conditions of the Czech Republic (CR) to assess loss of naturalness and biodiversity vulnerability at the habitat level on a detailed scale across the entire CR. An additional aim was to assess the main drivers affecting the biodiversity of habitat types. The GLOBIO3 model was adapted to CZ-GLOBIO by adapting global to local scales and using habitat quality and naturalness data instead of species occurrence data. The total mean species abundance (MSA) index of habitat quality, calculated from the spatial overlay of the four MSA indicators by our new equation, reached the value 0.62. The total value of MSA for natural and near-natural habitats was found to be affected mainly by infrastructure development and fragmentation. Simultaneously, intensity of land use change and atmospheric nitrogen deposition contributed primarily to the low total value of MSA for distant natural habitats. The CZ-GLOBIO model can be an important tool in political decision making to reduce the impact of the main drivers on habitat biodiversity in the CR.

Sign in / Sign up

Export Citation Format

Share Document