Master’s thesis "Financial insolvency of the firm and methods of solution to this problem" deals with management of receivables. The first part describes tools which can be used for the management of receivables after maturity or prevention before this type of receivables. In the second part the work is focused on management of receivables in the company. In this section the current status of this area in the company is summarized and more types of debt collection are proposed. Finally, ideas for improvement of management of receivables are suggested, e.g. in the area of client communication by sales representatives. Recommendations are also made for tools usage, e.g. sale of bad debts of transfer of risk to other subject.

Diploma thesis is intended on a financial situation of the company in 2004 - 2007. Financial analysis has been applied in this work. New results have been mentioned in the first part of the thesis. The analysis builds up on these results. The aim of the work is to improve the situation in the company Střecha.

The Master’s thesis deals with the evaluation of the financial situation in the company BOTAS, a. s. in the years 2003 – 2008. It determines strong and weak sides of the financial management through the chosen methods of the financial analysis. On the ground of these results it formulates the proposals improving contemporary financial situation in the company.

The thesis deals with the management of the solvency in the company MFC-MORFICO s. r. o. are Found through the analysis of individual components of working capital weak spots to improve and streamline its management, attention is paid to the evaluation of the processes intervening in obratového cycle of money, analysis of working capital as a whole and compared with the two largest competitors of the company in the field was designed, appropriate measures and recommendations which should in the future bring higher efficiency in working capital management, the subsequent savings and increase the value of the company.

This diploma thesis deals with the current amendment of the Insolvency Act. It was written by the Ministry of Justice of the Czech Republic. There is introduce the current amendment focuses on personal bankuptcy. The thesis introduces the legislative process of this amendment. For the identification of the actors was used the theory of advocacy coalitions. It shows their conflict of opinions. Two very different coalitions were defined in this problem amendment of Insolvency Act. Based on expert interviews were identified weaknesses of personal bankruptcy and devided into several groups. The study works with the concept of social stratification. It is used to ilustrate quantitative analysis. It contains the research sample of 91 and it completed insolvency proceedings (personal bankruptcy with repayment schedule). The sample were chosen from the relevant courts in Prague, Liberec region and Ústí nad Labem region. The results have been compared in the context of each area and as a whole sample.

The relevance of this dissertation research is connected with insufficient development of theoretical, methodological and practical issues of accounting and control of payments for housing and communal services between the operating companies and their contractors, meanwhile, as this sphere of activity has high economic and social importance. The work examines the complex theoretical and methodological issues of accounting and analysis of payment transactions between management companies and contractors in the sphere of housing and communal services and developed recommendations for their improvement. The peculiarities of normative regulation of financial and economic activities of managing organizations that affect their methods of accounting, including tariff policy, payments to contractors, and improved methods of accounting and analytical support these processes. / Актуальность диссертационного исследования связана с недостаточной разработкой теоретических, методических и практических вопросов учета и контроля расчетов по жилищно-коммунальным услугам между управляющими компаниями и их контрагентами, между тем, как данная сфера деятельности имеет высокую экономическую и социальную значимость. В работе исследован комплекс теоретических и методических вопросов учета и анализа расчетных операций между управляющими компаниями и контрагентами в сфере жилищно-коммунального хозяйства и разработаны рекомендации по их совершенствованию. Выявлены особенности нормативного регулирования финансово-хозяйственной деятельности управляющих организаций, влияющих на методики их бухгалтерского учета, в том числе тарифной политики, расчетов с контрагентами, и совершенствование методов учетно-аналитического обеспечения данных процессов.

The relevance of this work is due to the fact that the problem of finding effective solutions and methods for managing accounts receivable does not have a unique solution and depends, in particular, on the specifics of the enterprise's activities. The aim of the work is to study theoretical aspects and analyze the effectiveness of methods for managing accounts receivable LLC "Brusnika. Ekaterinburg "with subsequent development of recommendations for their improvement. The paper examines the theoretical foundations of the essence and structure of the working capital and accounts receivable of the enterprise, analyzes the state of accounts receivable and the company's methods of managing accounts receivable, as well as examines the main problems of Russian enterprises in managing receivables, identifies problems for the construction industry, suggests measures for their decision and given their economic justification. / Актуальность данной работы обусловлена тем, что проблема поиска эффективных решений и методов по управлению дебиторской задолженностью не имеет однозначного решения и зависит, в том числе, и от специфики деятельности предприятия. Целью работы является изучение теоретических аспектов и анализ эффективности методов управления дебиторской задолженностью ООО «Брусника. Екатеринбург» с последующей разработкой рекомендаций по их совершенствованию. В работе исследуются теоретические основы сущности и структуры оборотного капитала и дебиторской задолженности предприятия, анализируется состояние дебиторской задолженности и применяемые в компании методы управления дебиторской задолженностью, а также рассмотрены основные проблемы российских предприятий по управлению дебиторской задолженностью, выделены проблемы для строительной отрасли, предложены мероприятия по их решению и дано их экономическое обоснование.

Одной из важнейших проблем хозяйствующих субъектов в настоящее время является недостаток оборотного капитала. При этом большой размер дебиторской задолженности только ухудшает такое состояние компаний. Именно поэтому все более актуальными становятся вопросы, связанные с разработкой новых подходов к управлению дебиторской задолженностью. Целью исследования является разработка методического подхода к анализу дебиторской задолженности предприятия. В работе рассматриваются теоретические и прикладные вопросы анализа дебиторской задолженности. В качестве источников информации использовались учебно-методическая и научно-исследовательская литература, нормативно-правовые акты, данные бухгалтерской отчетности, официальные статистические данные Федеральной службы государственной статистики по тематике исследования. В ходе написания магистерской диссертации был разработан и апробирован методический подход к анализу дебиторской задолженности предприятия. Использование разработанного инструментария позволяет выявлять предельно допустимый объем дебиторской задолженности, структурировать ее по срокам возникновения и анализировать дебиторов с целью определения перспектив дальнейшего сотрудничества. В результате апробации разработанного методического подхода, вырабатываются рекомендации в отношении каждого дебитора. / One of the most important problems of modern business is the lack of working capital. The large amount of receivables worsens the state of companies. Issues related to the development of new approaches to the analysis of accounts receivable are becoming increasingly relevant. The purpose of the research is to propose a methodological approach to the analysis of the company's receivables. The theoretical and applied issues of receivables analysis are presented in the thesis. The following sources of information were used in the study: legal acts, papers in the Russian Science Citation Index (Elibrary resource), the educational literature, accounting data, and data of the Federal State Statistics Service on the subject of the research. A methodical approach to the analysis of the company's receivables was proposed and tested. The application of the developed toolkit allows identification the maximum allowable amount of receivables, structuring accounts receivable by maturity and analyzing debtors in order to determine the prospects for further cooperation. As a result of testing the developed methodological approach, recommendations for each debtor are made.

O presente trabalho parte da análise das normas que regem a tributação da renda no mercado imobiliário com a finalidade de possibilitar a identificação de um sistema jurídico dotado de princípios e valores próprios, que possibilite o estudo de suas normas de maneira destacada em relação às demais disposições que versam sobre a imposição da renda. Não se tem por pretensão a busca de uma autonomia das mencionadas normas; pelo contrário, o estudo parte da premissa de um único sistema jurídico, mas que pode ser estudado sob diferentes pontos de vista: um sistema que comporta subsistemas normativos, com valores e princípios próprios. Objetiva-se, assim, a identificação e posterior aproximação daquelas disposições que possuem fundamentos e princípios comuns, o que possibilitará a compreensão da extensão das previsões normativas a serem analisadas, bem como as opções efetuadas pelo legislador na produção legislativa. Antes de se efetuar o estudo das normas que versam sobre a tributação da renda imobiliária serão discutidos e apresentados os conceitos gerais necessários às análises que se seguirão. A limitação do legislador na produção legislativa é aspecto central no presente estudo. Entende-se que o sistema jurídico justo demanda uma coerência alcançada somente quando verificada a adequação valorativa das normas que o compõem e apresente unidade, por meio da observância de princípios e valores comuns, por essas mesmas normas. As normas que prevêem as imposições fiscais incidentes sobre renda no mercado imobiliário se prestarão de pano de fundo para a identificação de princípios que regem a tributação do imposto de renda nas diversas situações apresentadas. Serão, assim, objeto de análise a tributação do imposto de renda das pessoas jurídicas, tributadas pelo lucro real e pelo lucro presumido; a tributação especial das pessoas jurídicas sujeitas ao patrimônio de afetação; os rendimentos auferidos pelas pessoas físicas decorrente das atividades ligadas ao mercado imobiliário, tais como o ganho de capital na venda de imóveis e a tributação dos fundos de investimento imobiliários. Ao final da análise da legislação que versa sobre a tributação do imposto de renda nas situações acima mencionadas serão apresentados os princípios e valores escolhidos pelo legislador para a imposição da renda imobiliária. / The present arises from the analysis of principles which rule the taxation on the real estate market aiming the possibility of identifying a legal system endowed with principles and self-values and also providing an outstanding study of its rules with relation to the other provisions which deal with the income taxation. There is no intention of the search of independence from the aforementioned provisions, on the contrary, the study arises from the assumption of a unique legal system, which otherwise may be studied under different points of view, a system which involves normative sub-systems with their own values and principles. It aims, therefore, the identification and later approach to those provisions which own principles and grounds in common, providing that way, the understanding of the extension of the normative foresight to be analyzed, as well as, the legislator\'s altematives when making laws. Before the study of the principles which deal with the real estate income taxation, the general concepts needed to the analysis shall be presented and discussed. The legislator limitation to the law making shall be the central aspect of the present study. It is understood that a fair legal system demands coherence, which is just achieved when the appropriate principle values which integrate it are consolidated by the observance of the common principles and values of such principles. The rules, which provide the tax enforcement collected on the real estate income, shall be the grounds for the identification of the principles which rule the taxation on the income tax of the different situations herein presented. The corporation income tax, collected on presumed and gross profits, special corporation taxation liable to the \"patrimônio de afetação\", the earnings obtained by the individual persons regarding real estate businesses such as capital gain in property sales and the taxation on real estate funds of investments will, therefore, be the object of the analysis. After the analysis of the legislation which deals with the taxation on the income tax of the aforementioned situations, the principles and values enforced on real state earnings chosen by the legislator shall be presented.

A presente dissertação examina a cessão fiduciária do direito do acionista aos dividendos, bem como a titularidade fiduciária (garantia real) dela resultante. A razão para a análise desses institutos deve-se ao aumento no uso desta forma de garantia em operações financeiras complexas realizadas no mercado nacional. Primeiramente, é feita uma análise das diversas acepções (perfis) que o direito do acionista ao dividendo pode assumir no contexto do ordenamento jurídico nacional, para daí concluir que tal direito é passível de cessão tanto em sua condição de crédito, presente ou futuro (a depender, justamente, da existência ou não de lucros sociais já deliberados), quanto em sua condição de direito expectativo. Isto é, de direito que o acionista detém, a partir do momento em que se torna titular de ações, de vir a adquirir direitos de créditos de dividendos a serem distribuídos pela companhia de tempos em tempos. Em razão da necessidade da imediata constituição da garantia real, especialmente diante de uma eventual falência ou recuperação judicial do devedor, este trabalho conclui que a titularidade fiduciária deve recair sobre o direito expectativo aos dividendos, visto ser ele um direito já existente e que permite ao seu respectivo titular se tornar, direta e imediatamente, proprietário dos créditos de dividendos que vierem a ser futuramente distribuídos pela companhia, desde que estes estejam limitados a certos valores e/ou períodos previamente acordados entre o credor/financiador e o devedor/acionista. Ademais, apesar de ser um direito inerente à participação social, o destaque e a cessão autônoma do direito expectativo aos dividendos não conflita com o disposto no art. 28 da LSA. O presente estudo argumenta também que o credor fiduciário pode, nos termos do art. 113 da LSA, exercer certos direitos de voto na companhia, desde que (1) o objeto da garantia seja o direito expectativo aos dividendos e (2) a sua influência nas deliberações sociais restrinja-se a estabelecer a forma como o lucro social será apurado e distribuído pela sociedade. Por fim, é argumentado também que, por ser uma garantia que recai sobre direitos patrimoniais pagos em dinheiro, duas consequências imediatas revelam- se aplicáveis: (i) durante o período em que não existe qualquer inadimplemento ou vencimento regular da dívida garantida, os dividendos que vierem a ser pagos pela companhia deverão ser destinados ao acionista devedor, podendo o credor deles se beneficiar apenas quando existir o efetivo vencimento ou inadimplemento da dívida; e (ii) durante o período de inadimplemento ou na data de vencimento regular da dívida, o credor pode reter os recursos necessários à satisfação de seu crédito, desde que restitua o eventual excedente ao acionista devedor, não havendo, por isso, razão que justifique o enquadramento da excussão da garantia como sendo uma violação à proibição do pacto comissório, conforme prevista no Direito brasileiro. / This dissertation examines the fiduciary assignment of shareholders rights to dividends, as well as the fiduciary ownership (security interest) resulting from it. The reason for the analysis of these legal institutes comes from the increasing use of this type of security interest in complex financial transactions carried out in the local markets. Firstly, this works conducts the analysis of the various meanings (perspectives) which shareholders\' rights to dividends may have in different contexts of the Brazilian legal system, concluding that this right may be transferred either as a credit right, existing in the present or in the future (depending precisely on the existence of corporate profits already distributed or not), or as an expectance right. By this last one, we mean the right held by the shareholder as soon as he/she/it becomes the owner of the shares issued by a certain company that enables him/her/it to become the owner of the dividends distributed by the company from time to time. Due to the importance of the immediate granting of the security interest, especially in light of a possible bankruptcy or judicial reorganization process involving the debtor, this paper concludes that the fiduciary ownership should have the expectance right to dividends as its underlying asset. This is so because such right is already an existing right that allows the shareholder to become, directly and immediately, the owner of the dividends to be distributed by the company in the future, as long as those dividends are limited to certain amounts or periods previously agreed between the creditor/financier and the debtor/shareholder. Furthermore, despite being an inherent right to the equity stake, the detach of the expectance right to dividends from the shares which comes from, following by its assignment to other parties, does not conflict with the provision set forth in Section 28 of the Brazilian Corporation Act. This study also argues that the secured creditor may exercise certain voting rights in the company responsible for the payment of the dividends, pursuant to Section 113 of the Brazilian Corporation Act, provided that: (1) the underlying asset of the security interest is the expectance right to dividends; and (2) his/her/its influence in the companys decisions is limited to the manner according to which the corporate profits will be accounted and distributed by the company. Finally, it is also argued that, for being a security interest that has receivables as its underlying assets, two consequences turn out to be applicable. (i) Over the period in which there is no default or regular maturity of the secured debt, dividends paid by the company shall be allocated in favor of the shareholder/debtor. The creditor will be able to receive them in the maturity date or upon the occurrence of a default only. (ii) Over a default period or on the regular maturity date, the creditor may retain the necessary amount of dividends to satisfy his/her/its credit, provided that any excess cash shall be transferred to the shareholder/debtor, reason for which there are reasonable grounds to sustain that this foreclosure mechanism does not violate the non-retention of collateral assets convention rule (pacto comissório) provided under Brazilian law.