WHAT WAS DONE? This study researches the success of several value investment strategies in the stock markets of the United Kingdom and Germany based on nine firm fundamentals that are extracted from listed firms annual financial statements. In this regard, we first examine alternative forecast combination methods in a novel way to utilise fully the financial information at hand. Second, we examine the drivers of investment returns, particularly the role of information uncertainty, for which a new direct measure is developed. Finally, we evaluate the performance of these financial health investment strategies in alternative institutional environments by focusing on the differences between the two markets regarding both their corporate culture and their legal environment. WHY WAS IT DONE? Similar to economics, the discipline of finance is a social science because its observations emanate from economic transactions between humans. Nevertheless, a significant part of the research in this area is undertaken by means that are almost exclusively applied to the natural sciences, such as mathematics or physics. Although the reasons seem manifold, an increased form of scientificity, in conjunction with greater credibility of the research process and results, is deemed to be of primary importance. However, the benchmark for evaluating these research outcomes differs from those used in the natural sciences. From the example of the efficient market hypothesis one can see that alternative research results that cast serious doubt upon efficiency per se are disregarded as aberrations, leading to the assumption that the hypothesis in its entirety is more or less valid. This study assumes that inefficiencies in the stock market do exist for prolonged periods of time and investors are actually able to benefit from them. HOW WAS IT DONE? Secondary financial statement data of listed companies in the United Kingdom and Germany were downloaded from Datastream for the period between 1992 and 2010. A quantitative analysis of the significance of the correlation between groups of firms with similar financial characteristics and their one-year-ahead stock returns was subsequently performed. Various combination methods for differential weighting of individual financial statement items were conducted. The aim was to increase the profitability of the investment strategy. WHAT WAS FOUND? In general, a classification of stocks according to certain internal criteria of financial health is capable of separating future winners from losers and at the same time confirms the results of a previous US study. More specifically, we first show that a wide range of combination methods generate profitable investment strategies whereby especially measures of profitability are the central indicator of a firm s future performance. Secondly, the more complex methods neither consistently nor substantively outperform the simpler methods. Thirdly, information uncertainty does not seem to be the prime driver of the profitability of an investment strategy. Lastly, we show that financial health investment strategies are profitable both in market-oriented, common law settings and in bank-oriented, code law settings.

The diploma thesis deals with the issue of financial performance of central banks. Central banking is generally considered as a profitable part of financial system. However, this paper focuses on the loss-making central banks and emphasizes the examples of central banks with large accumulated financial losses. Relationship between the quality of balance sheet assets and financial performance of central banks is closely examined in the thesis. Alongside, it analyses the impact of negative financial performance on the main objectives of central bank, in the role of monetary authority. Effectiveness of monetary policy is conditioned by many factors, among them are independence of central bank, the level of development of financial markets - central bank operates in, analytical skills of employees and etc. However, the case, where financial performance of central bank is discussed in connection with monetary policy performance, is extremely rare. The primary goal of this diploma thesis is to reveal and describe the main ways in which financial performance of the central bank influences monetary policy decisions. It also tries to find out whether there is hidden threat of a damaging impact on the decisions in case the central bank accumulates the negative financial results.

This thesis occupies with the issue and support of financial consolidation platform CPM (Corporate Performance Management). The aim of this thesis is the creation of tasks related to the lifecycle of the project implementation of CPM solution to support financial consolidation in sufficient detail for the development of a MBI model (Management of Business Informatics). This thesis also occupies with the detailed processing of key activities and links with the existing MBI environment. The theoretical part deals with analysis of the available resources, it describes the process of financial consolidation and CPM platform. The practical part is based on the theoretical knowledge as well as practical knowledge and uses both of them as a basis to processing them into a form, so, they comply with the MBI rules. The added value of this thesis is the creation of new tasks, their key activities and the links to existing MBI content in order to increase the efficiency of the worker, which uses the model. Regarding several tasks, there were created definitions of new applications, documents and metrics for the further development of MBI model.

The aim of this master's thesis is to describe the principle of the transition in accordance with IFRS. This thesis aims to introduce readers to the issues of conversion of financial statement prepared under Czech accounting regulations and financial statement prepared in accordance with IAS/IFRR; furthermore it aims to digestedly describe individual steps of this complex process focusing on current legal regulations. The dissertation in its beginning familiarize readers with the main differences between Czech accounting regulations and IAS/IFRS, further it mentions possibilities of the sole conversion of financial statement to IFRS and last, but not least it describes aforesaid issues with relations to chosen corporations that have reported in accordance with IFRS.

This thesis deals mainly with internal fraud. In the first section, a definition of fraud is mentioned. The second section briefly describes the internal and external fraud and provides their basic structure. The third section deals with the reasons for committing fraud. The fourth section is concerned with the specific forms of internal fraud which come under the basic groups of corruption, misappropriation of assets and statements manipulation and other forms of fraud which may be between the internal and external fraud. The last section provides examples of large and small accounting examples relating to the internal fraudulent activities.

The subject of this master's thesis is analysis of Figarostav s.r.o. company, identification of risks and proposing provisions for reduction of them. The thesis is divided into four parts. The first part analyzes current situation and provides theoretical principle. The next part uses methods of economics and strategic analysis. The third part evaluates the results of the analysis and analyzes risks using the RIPRAN method. The last part discuss suitable provisions of the identified risks.

The subject of the diploma thesis is the analysis of Poski.com, s.r.o. Risk identification and proposal of measures. The work is divided into four parts. The first part focuses on the theoretical basis of work. The second part puts theory into practice using the given methods and analyzes. This followed by results assessment by risk analysis and RIPRAN method. The last part discusses appropriate measures.

The thesis deals with the issue of consolidated financial statement in a selected holding and in its economic appreciation before the expansion of the consolidated group and after its change. The first part of the thesis includes theoretical knowledge for consolidated financial statement which are subsequently applied in the creation of new consolidated financial statements related to the expansion of the consolidated group. The conclusion of the thesis is dedicted to the comparison of consolidated financial statements.

The Master’s thesis is focused on the issue of the financial statement consolidation of a selected company and the subsequent evaluation of the impact of the consolidation group change on the economic situation of the concern. The first part contains the theoretical knowledge of this area, the second part includes the introduction of the concern and its current economic situation, and the last part is devoted to the consolidation of the new consolidation group and evaluation of the impact of the change on the economic situation of the concern.

This master’s thesis is focused on drafting the corporate financial plan proposal for the company Formplast Purkert, s.r.o. The first part contains the theoretical basis of financial planning. The second part introduces the analyzed company and the analysis of the current condition of the company. Consequently is it proposed financial plan of company for the period 2019-2023 in the optimistic and pessimistic variant. In the final part of the thesis are evaluated both options of the financial plan.