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

Equilibrium ◽  
2020 ◽  
Vol 15 (3) ◽  
pp. 595-611
Author(s):  
David Homola ◽  
Marie Paseková
Keyword(s):  
Czech Republic ◽  
Value Added ◽  
Financial Statements ◽  
Statistical Dependence ◽  
Chi Square ◽  
The Czech Republic ◽  
Factors Influencing ◽  
Wide Range ◽  
Average Size

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 be-tween the frequency of misstatements occurrence and the average size of mis-statements. 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 bene-fits of IFRS implementation.

scholarly journals Factors influencing consumer behaviour in the beer market in the Czech Republic

2021 ◽  
Vol 39 (No. 4) ◽  
pp. 319-328
Author(s):  
Veronika Svatošová ◽  
Petra Kosová ◽  
Zuzana Svobodová
Keyword(s):  
Czech Republic ◽  
Consumer Behaviour ◽  
Influential Factors ◽  
Influential Factor ◽  
High Quality ◽  
The Czech Republic ◽  
Beer Consumption ◽  
Factors Influencing ◽  
Selection Of

The aim of the paper is to identify the factors influencing consumers when beer consumption and when choosing restaurants for beer consumption in the Czech Republic (CR). A partial goal was to compare preferences and factors influencing beer consumers from the Vysočina Region and the South-Moravian Region. The survey included a questionnaire survey, which 408 respondents took part in. The results showed that the most influential factors in the selection of beer for consumers are taste, a high-quality brand, and Czech production. Surprisingly, price was not found to be an influential factor in beer selection but is rather neutral. Factors that influence consumers most when choosing a restaurant for beer consumption were also identified. Consumers are most influenced by the quality of the beer on offer and the environment in which it is consumed.

scholarly journals Online grocery shopping: the customers´ perspective in the Czech Republic

Equilibrium ◽  
2021 ◽  
Vol 16 (3) ◽  
pp. 679-695
Author(s):  
Ottó Bartók ◽  
Vratislav Kozák ◽  
Radka Bauerová
Keyword(s):  
Czech Republic ◽  
Questionnaire Survey ◽  
Quantitative Research ◽  
Online Shopping ◽  
Statistical Evaluation ◽  
Value Added ◽  
Chi Square ◽  
The Czech Republic ◽  
Correlation Test ◽  
Chi Square Test

Research background: Online shopping is becoming popular among most customers thanks to quickness and easy shopping, and also due the COVID pandemic. Companies are aware of the great interest of customers and, as a consequence, e-commerce is expanding. There has been a significant increase in online grocery purchases due to economic growth in the past few years. Online shopping attracts a lot of research interest, individual authors and this is a widely discussed topic. It should be borne in mind that online purchasing of food has its own peculiarities compared to the segment of electronics or fashion from the perspective of everyday needs. Purpose of the article: The aim of the study is to analyze specific consumer behaviour in online purchasing of groceries. This study takes into account the age and purchasing preferences of online grocery purchasers. Methods: The study was conducted using quantitative research. Data (n = 171) was obtained by using a questionnaire survey done in the Czech Republic. The questionnaire survey contained 17 questions. For the statistical evaluation, Chi-square test and Pearson's correlation test were used. For the statistical evaluation, Chi-square test and Pearson´s correlation test were used. Findings & value added: The results of the study indicate that there is a relationship between the age of customers and online purchase in the grocery field. However, customers who use the         e-shop for grocery purchase are still reluctant to buy perishable goods (meat, pastries) and prefer goods that are packed directly by the manufacturer. The study sheds light on understanding the customers? purchasing behaviour and their preferences in terms of quality of service, payment terms, delivery conditions, and range of assortment.

scholarly journals Global COVID-19 Pandemic and Indebtedness of Municipalities with Extended Power in the Czech Republic

2021 ◽  
Vol 92 ◽  
pp. 01023
Author(s):  
Eva Lajtkepová
Keyword(s):  
Czech Republic ◽  
Value Added ◽  
Secondary Data ◽  
Tax Revenue ◽  
The Czech Republic ◽  
Legal Limit ◽  
Fiscal Rule ◽  
The Subject ◽  
Extended Power

Research background: In theory, indebtedness of municipalities is only ever associated with the acquisition of investments. It is advised that indebtedness should be regulated by the state, but there is a risk of limiting investment in local infrastructure. Purpose of the article: According to Act No. 23/2017 Coll., municipalities must regulate their own indebtedness and comply with the fiscal rule on pain of penalty. The aim of this text is to provide an analysis and examine the prospects of compliance with the fiscal rule in 205 municipalities with extended power. The analysis is carried out between 2017 and 2019, the risks of compliance in the following years mainly relate to the emerging economic crisis caused by the COVID-19 pandemic. Methods: Given the subject of the analysis, secondary data was used for the research. Data was taken from the Monitor database operated by the Ministry of Finance of the Czech Republic. The obtained data had been processed using standard statistical methods. Findings & Value added: To date, the indebtedness of municipalities with extended power is not excessive: the mean and median values are still well below the legal limit. Still, there are some municipalities where the legal limit has been exceeded, or whose indebtedness is nearing the limit. In the event of reduced tax revenue, which is to be expected in the coming years, these municipalities will struggle to comply with the fiscal rule. The consequences will include halting or limiting local investment, and/or reducing the quality of local public goods.

scholarly journals Assessment of the social exclusion at the regional level using multi-criteria approach: evidence from the Czech Republic

Equilibrium ◽  
2021 ◽  
Vol 16 (1) ◽  
pp. 75-102
Author(s):  
Roman Vavrek ◽  
Eva Kovářová
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Social Exclusion ◽  
Social Services ◽  
Value Added ◽  
Well Being ◽  
The European Union ◽  
The Czech Republic ◽  
The Social ◽  
Wide Range

Research background: Social services are the main social tool used for the prevention and solution of social exclusion and its risk. Services of social prevention are focused on the well-being of the whole society and they prevent it from the influence of a wide range of socio-economic phenomena related to social exclusion, understood in multidimensional terms. Purpose of the article: The purpose of the paper is to evaluate districts of the Czech Republic with respect to selected socio-economic factors that lead or can lead to social exclusion, when the emphasis is placed on the exclusion of children and youth, and to identify the causes of differences existing among these districts within the period of years 2011?2016. Methods: The paper focuses on multi-criterial assessment of districts of the Czech Republic using 23 indicators covering main aspects of social exclusion, which are processed with the Technique of Order Preference Similarity to the Ideal Solution (TOPSIS technique) in combination with the Coefficient of Variance method used to determine the indicators? weight. The results obtained using these methods are completed by the Moran?s index, Shapiro-Wilk test, Mann-Whitney test, Kolmogorov-Smirnov test, Kendall Rank Coefficient and Levene?s test. Findings & value added: A small number of districts with very negative assessment, with the presence of social exclusion and its higher risk, respectively, are identified. Differences among regions are constant and could not be assigned to randomness or disposable changes in the structure of indicators. Higher number of children born to unmarried mothers can be considered a typical aspect of the districts with higher risk of the social exclusion. The methods applied in the research, whose results and findings are presented in the paper, can be inspiring to further studies focusing on the social exclusion in its multidimensionality. The research is framed with the European Union discourse of social exclusion, thus the presented findings also open space for the comparisons and discussions of the factors associated with the social exclusion in other European Union Member States.

scholarly journals Management and Development of Talented Employees in the Global World

2021 ◽  
Vol 92 ◽  
pp. 06040
Author(s):  
Martin Kursch ◽  
Jaroslav Veteska
Keyword(s):  
Czech Republic ◽  
Value Added ◽  
Talent Management ◽  
The Czech Republic ◽  
Private Organizations ◽  
Talent Pool ◽  
Wide Range ◽  
Management And Development ◽  
Public Organisations ◽  
Global World

Research background: The study focuses on the search for talented individuals depending on the size and form of organizations in the Czech Republic. Purpose of the article: The article answers the question where organizations are looking for talented individuals in the Czech Republic in the era of digitization and Industry 4.0. It also reveals whether different forms of organization and their size play a role in finding talented individuals. Methods: A representative sample of 301 talent management organizations found whether the search for talented individuals depends on the size of private organizations and whether the form of the organization affects its application. The study is part of a very extensive research completed in 2018 dealing with the effectiveness of talent management methods in the Czech Republic. Findings & Value added: It produces specific results related to the way talented individuals are found in small, medium, and large private organisations and public organisations. The result is to determine the dependency between size, form of organization and search for talented individuals. The study also points to the fact that the “talent pool” method is independent of seeking talent within an organisation or in the labour market. The study covers a wide range of organisations, including public organisations, which are neglected in most current research.

scholarly journals Corporate responsibility aspects of food banks network in the Czech Republic regarding the need of their economic sustainability

2021 ◽  
Vol 92 ◽  
pp. 06028
Author(s):  
Lukas Polacek ◽  
Jan Vavrina
Keyword(s):  
Czech Republic ◽  
Best Practice ◽  
Financial Analysis ◽  
Value Added ◽  
Financial Statements ◽  
Problem Area ◽  
Food Banks ◽  
Current Form ◽  
Economic Point ◽  
The Czech Republic

Research background: Food banks, in their current form, provide services free of charge, but their activities cannot be conducted without public subsidies. Specifically, these are operational and investment subsidies mainly from the resources of the Ministry of Agriculture of the Czech Republic. Thus, the tendency to change the current servicing scheme, mainly from the economic point of view, becomes a growing interest area for food banks and respective stakeholders. Purpose of the article: Purpose of the article is to identify current best practice of food banks sector and to find common aspects of the financial position of food banks in the Czech Republic, using their financial statements and approaches of technical financial analysis in application on the sample of entities. Methods: Authors use general methods of analysis and synthesis of relevant scientific articles and studies with respect to the fact that the problem area of effective and efficient activities in the CEE countries or even Europe is quite rare. There are employed data from accessible financial statements of currently existing 15 food banks in the Czech Republic. Findings & Value added: This article provides an initial outcome of an ongoing specific research project on sustainable service of food banks in the frame of corporate responsible activities within a globalized food manufacturing and food supply chain industry. Authors fill with partial results of this article a gap in the research of the sustainable food bank activities in the CEE countries.

scholarly journals Factors Influencing Students’ Motivation to Seek Higher Education—A Case Study at a State University in the Czech Republic

2019 ◽  
Vol 11 (17) ◽  
pp. 4699
Author(s):  
Adéla Fajčíková ◽  
Hana Urbancová
Keyword(s):  
Higher Education ◽  
Czech Republic ◽  
Sustainable Competitive Advantage ◽  
State University ◽  
The Czech Republic ◽  
Factors Influencing ◽  
Development Of Competencies ◽  
Education Process

The quality of universities in the present era is the subject of ever more discussion in the Czech Republic and the EU. Quality is determined both quantitatively and qualitatively, and ever more importance is placed on ratings by students and graduates. The objective of this article is to identify and evaluate factors influencing the motivation of students to seek higher education and their expectations regarding the quality of a university. The data was obtained using questionnaire-based investigation among the students of a state university (n = 293) and was analysed using descriptive and multivariate statistics. The results identified seven factors that influence the motivation and expectations of students, of which the most significant are quality personnel providing instruction, building social status, development of competencies, and the quality of the education process in relation to employment. The recommendations presented can help other universities to implement suitable personnel marketing and to gain sustainable competitive advantage.

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

2019 ◽  
Vol 10 (1) ◽  
pp. 193-210 ◽  
Author(s):  
Marie Paseková ◽  
Eva Kramná ◽  
Bohumila Svitáková ◽  
Miroslava Dolejšová
Keyword(s):  
Czech Republic ◽  
Goodness Of Fit ◽  
Accounting Standards ◽  
Value Added ◽  
Financial Statements ◽  
Point Of View ◽  
Goodness Of Fit Test ◽  
The Czech Republic ◽  
Non Profit ◽  
Accounting Errors

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 in-creasing 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.

scholarly journals Entrepreneurial propensity index of university students. The case study from the Czech Republic, Slovakia and Poland

2019 ◽  
Vol 10 (1) ◽  
pp. 173-192 ◽  
Author(s):  
Ján Dvorský ◽  
Zora Petráková ◽  
Eliška Zapletalíková ◽  
Zoltán Rózsa
Keyword(s):  
Czech Republic ◽  
University Students ◽  
Value Added ◽  
Business Environment ◽  
University Education ◽  
The Czech Republic ◽  
Doing Business ◽  
The Social

Research background: Promotion of the entrepreneurship has an important role in the society, and the direct relationship between entrepreneurship and economic growth of the country is proven. Universities education should be one of the pillars to build the business environment and the entrepreneurial propensity of the students in the entrepreneurship. Purpose of the article: The paper aimed to define and quantify significant factors that shape the entrepreneurial propensity of university students and create the entrepreneurial propensity index. A part of this aim was a comparison of defined factors in the Czech Republic (CR), Slovakia (SR) and Poland (PL). Methods: The survey-based research was conducted with students in the last year of their economic studies on the universities. 1,352 students from 25 universities in selected countries were approached during research. A custom Entrepreneurial Propensity Index was created that was implemented separately for CR, SR and PL. Findings & Value added: The research brought interesting findings. The aggregated Entrepreneurial Propensity Index in the Czech Republic reached the value of 0.470, which was higher than that of Slovakia (0.424) and Poland (0.412). The evaluation of the quality of university education is similarly positive in all countries (CR: 0.659, PL: 0.589, SR: 0.592). Czech students gave access to the financial resources and the role of macroeconomic environment got a higher rating than Slovak and Polish students. On the contrary, Poland students gave the social environment and business advantages a higher rating than Czech and Slovak students. The evaluation of the personality traits is more positive in Slovakia. The most positive indicator for all students is that doing business enables to make use of own abilities and own solutions.

scholarly journals The process of economic integration and globalization in the area of financial reporting, focusing on publication of financial statements in the Czech Republic and in selected countries of the European Union

2021 ◽  
Vol 92 ◽  
pp. 02004
Author(s):  
Hana Bartková ◽  
Marcela Palochová ◽  
Marek Pomp
Keyword(s):  
European Union ◽  
Czech Republic ◽  
Financial Reporting ◽  
Practical Knowledge ◽  
Value Added ◽  
Financial Statements ◽  
The European Union ◽  
The Czech Republic ◽  
Transnational Companies ◽  
Business Entities

Research background: One of the most important features of the current development of the world economy is international integration, which is taking on global dimensions. Operations of transnational companies and the development of the global capital market brings the necessity of accounting harmonization. The goal of this is to ease the mutual observation, reporting, use and thus creation of a single, international accounting. Purpose of the article: The purpose of this article is to describe the current state of the process of harmonization during preparing the annual accounts in the Czech Republic and in selected countries of the European Union, with the analysis of impacts of change in the legislative framework to the obligations of entities in the area of preparation and publication of financial statements. Methods: Scientific procedures using theoretical methods were used in the paper, which include description, analysis, synthesis, comparison and evaluation, inclusive of processing and evaluation of data and information obtained from research conducted by business entities in the Czech Republic. Findings & Value added: The article analyses the impacts of the process of harmonization and globalization on the area of financial reporting and on publishing financial statements. Based on the acquired theoretical and practical knowledge, the paper suggests possible solutions to improve the informational obligations of accounting units. The paper also evaluates the achievement of compliance in the area of reporting financial statements from the perspective of the Czech Republic and selected countries of the European Union.

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