One of the most important threats for many firms today, despite their nature of the operation, size and longevity, is insolvency. Existing empirical evidence has shown that in the past two decades, business failures have occurred at a higher rate than any time since the 1930s. Many business failure studies have been conducted over time using financial ratios as inputs and traditional statistical techniques. Some of these studies examined whether cash flow information improves the prediction of business failure. Most recently, researchers have employed discriminant analysis to perform business failure prediction. The recent changes in the world caused by unstable environments where many firms fail more than ever, there is increasing need to predict business failure. To this date, there have been limited previous studies conducted on failure prediction for UK firms. Even in other countries, there has been a small amount of research done in the field of firm failures. Therefore, this study investigates the extension of Altman’s (1968) original model in predicting the health of UK firms using discriminant analysis and performance ratios to test which ratios are statistically significant in predicting the health of the UK firms .a selected sample containing 90 failed and 1000 non failed on UK industrial firms from 2000 – 2013. The main purpose of this study is to contribute towards Altman’s (1968) original Z-score model by adding new variables (Cash flow ratio). The study found that cash flow, when combined with Altman’s original variables is highly significant in predicting the health of UK general firms. A J-UK model was developed to test the health of UK firms. When compared with the re-estimated the Altman’s original model in the UK context, the predictive power of the model was 82.9%, which is consistent with Taffler’s (1982) UK model. Furthermore, to test the predictive power of the model before, during and after the financial crisis periods; results show that J-UK model had a higher accuracy to predict the health of UK firms than the re-estimated Altman’s original model. Finally, the study proves that liquidity, profitability, leverage and capital turnover ratios are significant ratios in predicting failure. Liquidity and profitability have the highest contribution to the results of both re-estimated Altman’s original model and J-UK model. This study has implications for decision makers. Regulatory bodies and practitioners have to take into account the ratios, which contributed highest to the model in order to serve as early warning signals for corrective action.

Dissertation is divided into two major parts -- the former is dedicated to theoretic approches to financial analysis, the latter to application of previously gained knowledge in a company. The introduction of work is dedicated to the purpose, usage and approaches to financial analysis with respect to various users of the analysis output. Moreover the document in a very detailed way deals with sources of data for financial analysis processing including weak points and their reflection in ability of calculated indicators of the financial analysis (FA) to give evidence. The most attention is of cource paid to individual steps in thorough financial analysis -- ie. vertical and horizontal analysis of statements and calculations of proportionate indicators including indicator examples from separate spheres of the analysis. Systems of indicators -- parallel but mainly pyramidal, concretely Du-pont's model is used. Dissertation thereinafter is devoted to another indicators that are useful for appreciation of the financial company health, concretely Altman's model, Kralicek's quicktest, Index IN and economic value added (EVA indicator). Comparision with branch of activity that is the company work in is a part of dissertation too. In the second part of the work, a specific company is being analysed -- in successive steps meant in the previous part. After statement analysis and calculations of proportionate indicators, I evaluate to what degree the company is successful. Simultaneously the results can indicate that outputs from the well elaborated financial analysis are of a very useful source of information for company management.

This Master's thesis is focused on financial analysis of joint-stock company Recoop Tour for the period 2004-2007, which owns one of the luxury hotels in Prague Diplomat. This hotel has a rich tradition of providing accommodation and catering services, the organization of international symposia, fairs and conferences. The company Recoop Tour is attractive for the purposes of financial analysis because it is a relatively new corporation, which was actually created for the construction and operation of one of the most luxurious hotels in Prague. The company uses a bank loans from its very beginning and therefore has negative equity. However, the results of economic activity show a continuous reduction of negative values of foreign capital. Development of indices of financial analysis suggests that the situation in corporate finances needs to adopt a number of measures such as a raise of common stock and certain other management decisions, which will increase the overall performance and achievement of economic profit.

O estudo de concordância ou coincidência entre os resultados obtidos por dois métodos ou modelos é amplo e abrange diversos índices e abordagens distintas, havendo divergências nas escolhas das técnicas usadas na estimativa da evapotranspiração. Dentre os índices usados para esta finalidade destacam-se: o coeficiente de correlação linear, o coeficiente de determinação, os índices de concordância de Willmott (WILLMOTT, 1981; WILLMOTT et al., 2012) e os índices de desempenho (CAMARGO & SENTELHAS, 1997; ALVARES et al., 2013). Também são utilizados o método de Bland-Altman (BLAND & ALTMAN, 1986) e testes sobre os coeficientes de regressão linear simples, com ou sem intercepto. O Irrigâmetro é um aparelho evapopluviométrico utilizado no manejo da irrigação, visando a otimizar o uso da água na agricultura irrigada e que pode ser usado para estimar a evapotranspiração de referência (ET0). Este aparelho apresenta grande potencial de uso na agricultura, pois além de ser um equipamento simples, de fácil manuseio e economicamente viável, fornece informações de quando e quanto irrigar, sem que o irrigante tenha conhecimentos técnicos especializados sobre irrigação (OLIVEIRA et al., 2008b) ou acesso a inúmeros dados meteorológicos. Neste contexto é interessante saber se a evapotranspiração de referência obtida com o uso do Irrigâmetro (ETI) concorda com a Evapotranspiração de referência obtida pelo método padrão de Penman Monteith FAO 56 (ET0). Diante do exposto os objetivos deste trabalho foram: (i) apresentar e avaliar diferentes técnicas utilizadas no estudo de concordância entre dois métodos para a obtenção da ET0 por meio de um estudo com dados simulados; (ii) implementar computacionalmente os cálculos no software computacional R e (iii) aplicar as técnicas aos dados de Evapotranspiração de referência obtidos com o uso do Irrigâmetro (ETI), em um experimento conduzido no Campus Universitário de Gurupi da Universidade Federal do Tocantins (UFT). Os resultados das simulações indicaram que nenhum índice ou técnica conseguiu sozinho identificar a real concordância entre os dados simulados. Dentre os índices estudados, o índice de Willmott refinado foi o mais eficiente para avaliar a concordância entre dois métodos usados na obtenção da ET. O teste para os parâmetros da reta de regressão e o método de Bland-Altman devem ser utilizados em conjunto com outros índices de concordância. A aplicação dos métodos de concordância aos dados do estudo com o Irrigâmetro indicou que a altura de água no evaporatório, que melhor estima a ET0 foi de 3 cm. O índice de Willmott indicou uma concordância boa (d = 0; 74), mas o índice refinado de Willmott indicou uma concordância fraca (dr = 0; 34) entre ETI e ET0. Em trabalhos futuros com o Irrigâmetro, além do nível de água no interior do evaporatório, outras medidas deverão ser consideradas, como a área de água exposta na superfície e, consequentemente, o volume de água no evaporatório, a espessura e o tipo de material do evaporatório. / The agreement or coincidence between the results obtained by two methods or models is extensive and comprises several indexes and different approaches, with differences in the choices of the techniques used to estimate evapotranspiration. Among the indices used for this purpose are: correlation coefficient, determination coefficient, Willmott\'s concordance indexes (WILLMOTT, 1981; WILLMOTT et al., 2012) and performance indices (CAMARGO & SENTELHAS, 1997; ALVARES et al., 2013). The Bland-Altman method and tests on the coefficients of simple linear regression, with or without the intercept term, are also used in this kind of study. The Irrigameter is an evapo-pluviometric apparatus to be used in irrigation water management, aiming to optimize the use of water in irrigated agriculture and that can be used to estimate the reference evapotranspiration (ET0). This apparatus has great potential for use in agriculture, because besides being simple apparatus, easy handling and economically feasible, gives information of when and how much to irrigate, without the irrigator has technical expertise on irrigation (OLIVEIRA et al., 2008b) or access to numerous meteorological data. In this context it is interesting to know whether the reference evapotranspiration obtained with the use of Irrigameter (ETI) agrees with the reference evapotranspiration obtained by the standard method of Penman Monteith FAO 56 (ET0). Given the above the objectives of this study were: (i) present and evaluate the different techniques used in the study of agreement between two methods for obtaining the ET0 through an analysis of simulated data, (ii) implement the calculations in the computer software R and (iii) apply the techniques to the evapotranspiration (ET0) data obtained with the use of an Irrigameter (ETI) in an experiment conducted at the Federal University of Tocantins (UFT), Gurupi-TO/Brazil. The simulation study concluded that none of the discussed methodologies can be used, isolated, to conclude on the agreement between two models or methods. Among the studied indices, the Willmott\'s refined index was the most efficient to evaluate the agreement between the two methods used in obtaining the ET. The test for the regression line parameters and the Bland-Altman\'s chart should be used together with other concordance indices. The application of the methods of agreement to study data with the Irrigameter indicated that the water level in the evaporatory that better estimated ET0 was 3 cm. The index of Willmott indicated a good agreement (d = 0:74), but the refined Willmott\'s index indicated a weak agreement (dr = 0:34) between (ETI e ET0). In future studies, beyond the water level inside the evaporatory other measures could be considered, such as the exposed area of water on the surface and, consequently, the water volume in the evaporatory, the thickness and type of the evaporatory\'s material.

O estudo de concordância ou coincidência entre os resultados obtidos por dois métodos ou modelos é amplo e abrange diversos índices e abordagens distintas, havendo divergências nas escolhas das técnicas usadas na estimativa da evapotranspiração. Dentre os índices usados para esta finalidade destacam-se: o coeficiente de correlação linear, o coeficiente de determinação, os índices de concordância de Willmott (WILLMOTT, 1981; WILLMOTT et al., 2012) e os índices de desempenho (CAMARGO & SENTELHAS, 1997; ALVARES et al., 2013). Também são utilizados o método de Bland-Altman (BLAND & ALTMAN, 1986) e testes sobre os coeficientes de regressão linear simples, com ou sem intercepto. O Irrigâmetro é um aparelho evapopluviométrico utilizado no manejo da irrigação, visando a otimizar o uso da água na agricultura irrigada e que pode ser usado para estimar a evapotranspiração de referência (ET0). Este aparelho apresenta grande potencial de uso na agricultura, pois além de ser um equipamento simples, de fácil manuseio e economicamente viável, fornece informações de quando e quanto irrigar, sem que o irrigante tenha conhecimentos técnicos especializados sobre irrigação (OLIVEIRA et al., 2008b) ou acesso a inúmeros dados meteorológicos. Neste contexto é interessante saber se a evapotranspiração de referência obtida com o uso do Irrigâmetro (ETI) concorda com a Evapotranspiração de referência obtida pelo método padrão de Penman Monteith FAO 56 (ET0). Diante do exposto os objetivos deste trabalho foram: (i) apresentar e avaliar diferentes técnicas utilizadas no estudo de concordância entre dois métodos para a obtenção da ET0 por meio de um estudo com dados simulados; (ii) implementar computacionalmente os cálculos no software computacional R e (iii) aplicar as técnicas aos dados de Evapotranspiração de referência obtidos com o uso do Irrigâmetro (ETI), em um experimento conduzido no Campus Universitário de Gurupi da Universidade Federal do Tocantins (UFT). Os resultados das simulações indicaram que nenhum índice ou técnica conseguiu sozinho identificar a real concordância entre os dados simulados. Dentre os índices estudados, o índice de Willmott refinado foi o mais eficiente para avaliar a concordância entre dois métodos usados na obtenção da ET. O teste para os parâmetros da reta de regressão e o método de Bland-Altman devem ser utilizados em conjunto com outros índices de concordância. A aplicação dos métodos de concordância aos dados do estudo com o Irrigâmetro indicou que a altura de água no evaporatório, que melhor estima a ET0 foi de 3 cm. O índice de Willmott indicou uma concordância boa (d = 0; 74), mas o índice refinado de Willmott indicou uma concordância fraca (dr = 0; 34) entre ETI e ET0. Em trabalhos futuros com o Irrigâmetro, além do nível de água no interior do evaporatório, outras medidas deverão ser consideradas, como a área de água exposta na superfície e, consequentemente, o volume de água no evaporatório, a espessura e o tipo de material do evaporatório. / The agreement or coincidence between the results obtained by two methods or models is extensive and comprises several indexes and different approaches, with differences in the choices of the techniques used to estimate evapotranspiration. Among the indices used for this purpose are: correlation coefficient, determination coefficient, Willmott\'s concordance indexes (WILLMOTT, 1981; WILLMOTT et al., 2012) and performance indices (CAMARGO & SENTELHAS, 1997; ALVARES et al., 2013). The Bland-Altman method and tests on the coefficients of simple linear regression, with or without the intercept term, are also used in this kind of study. The Irrigameter is an evapo-pluviometric apparatus to be used in irrigation water management, aiming to optimize the use of water in irrigated agriculture and that can be used to estimate the reference evapotranspiration (ET0). This apparatus has great potential for use in agriculture, because besides being simple apparatus, easy handling and economically feasible, gives information of when and how much to irrigate, without the irrigator has technical expertise on irrigation (OLIVEIRA et al., 2008b) or access to numerous meteorological data. In this context it is interesting to know whether the reference evapotranspiration obtained with the use of Irrigameter (ETI) agrees with the reference evapotranspiration obtained by the standard method of Penman Monteith FAO 56 (ET0). Given the above the objectives of this study were: (i) present and evaluate the different techniques used in the study of agreement between two methods for obtaining the ET0 through an analysis of simulated data, (ii) implement the calculations in the computer software R and (iii) apply the techniques to the evapotranspiration (ET0) data obtained with the use of an Irrigameter (ETI) in an experiment conducted at the Federal University of Tocantins (UFT), Gurupi-TO/Brazil. The simulation study concluded that none of the discussed methodologies can be used, isolated, to conclude on the agreement between two models or methods. Among the studied indices, the Willmott\'s refined index was the most efficient to evaluate the agreement between the two methods used in obtaining the ET. The test for the regression line parameters and the Bland-Altman\'s chart should be used together with other concordance indices. The application of the methods of agreement to study data with the Irrigameter indicated that the water level in the evaporatory that better estimated ET0 was 3 cm. The index of Willmott indicated a good agreement (d = 0:74), but the refined Willmott\'s index indicated a weak agreement (dr = 0:34) between (ETI e ET0). In future studies, beyond the water level inside the evaporatory other measures could be considered, such as the exposed area of water on the surface and, consequently, the water volume in the evaporatory, the thickness and type of the evaporatory\'s material.

In this thesis presents the results obtained in the treatment of the topic The Creation of an Internal Control System in the select company. The Internal Control System is examined from the perspective of the COSO model which evaluates the quality of the internal control at various levels in the company. On the survey of the disertation are valorized risk areas of the company. There are also proposed individuals suggestions for the solutions of the risk areas including the draft internal regulation. The company was also investigated using Altman's Z-Score model that evaluated its financial health.

The goal of this diploma thesis is a financial analysis of Hyundai Motor Manufacturing Czech, s. r. o. in the period of time 2008 and 2012 with aim at the financial stability of the company. Theoretical part describes the methods of financial analysis, which are used in the practical part.

This diploma thesis provides insight into the world of financial analysis from both theoretical and practical point of view. The basic theoretical apparatus used in the financial analysis is defined in the first part of the thesis and it is applied in the second part on the practical example of the company Baťa, akciová společnost. Emphasis is placed primarily on the issue of accounting procedures, analysis of profitability, liquidity, activity, debt analysis and non-financial indicators. The analysis of intercompany comparisons as a part of finacial analysis is aimed to be one of the basic characteristics of the thesis. Analyzed company is compared both to the industry and its main competitors. In the context of a comprehensive assessment of the financial health of the company, the Altman's model, the IN05 model and test for value added is applied.

The diploma thesis is aimed at creating a bankruptcy model for companies of the construction industry in the Czech Republic by using discriminant analysis. In the theoretical part, the concept of bankruptcy model is defined; this part is focused on the inclusion of bankruptcy models in economics, a look into their history, a description of selected models and a brief characteristic of the construction industry. In the practical part, the reliability of selected bankruptcy models is counted and a new bankruptcy model is built.