The aim of this thesis was to assess explanatory ability of financial statements in compliance with Czech accounting standards and IFRS linked to the evaluation of the financial health of the business corporation. In the contribution there was performed analysis of balance sheet and profit and loss statement of the selected accounting entity. Based on the analysis there were found significant areas and these areas were converted to IFRS. The final value of financial statements in IFRS was detected because of differences between these two methods of accounting (IFRS and Czech accounting standards). Then based on these results an explanatory ability and manipulation were assessed. The impacts of both legislations to the financial health of the business corporations were shown in to the calculation of aggregates IN 05 and Altman model.

My thesis is focused on the Business Register of Financial Statements of Companies. This thesis is divided into two parts. Firstly, the basic characters of Financial Statements are described, for example the balance sheet, the income statements, the statement of cash flow, audit of the financial statement. Companies must publish their financial statements in the business register. The practical part is focused on the analysis of this obligation. In the end this thesis has been evaluated situation in publication of the financial statements. 50 % of companies published the financial statements in 2010. There are differences in the publication of the financial statements of individual group of companies. For example it is in legal form. The publication of the financial statements for joint stock companies is around 75 %, but the publication of general partnership is only 20 %.

The topic of this diploma thesis is "Creative Accounting Techniques - Aspects of the Presentation of Financial Statements Prepared in Accordance with International Financial Reporting Standards". The aim of this thesis is to assess whether the selected entity has shown indicators of possible creative accounting in the context of publicly available financial statements compiled according to IFRS in comparison with Czech Accounting Standards and the subsequent assessment of acquired differences of both accounting approaches. For such assessment, selected detection models are used the Beneish model, the CFEBT model, and Jones Nondiscretionary Accruals. Moreover, there were calculated other two models Altman's Z-score and the Bonity Index. The diploma thesis is focused on the explanatory power of financial statements for stakeholders (or other external users) which has significant influence on their economic decision making. This work analyses issued and audited financial statements from the user's perspective who does not have any access to more detailed supporting documentation. The diploma thesis is divided into three main parts. The first part is the theoretical over-view of creative accounting. This part describes definitions, history, causes, effects, and techniques of creative accounting, as well as there are mentioned detection models which may help to identify manipulated financial statements. There are also presented bankruptcy and solvency models used for a financial analysis of the selected entity. The second part, methodological, contains the procedures and calculations of selected models used for the further analysis of creative accounting. The third part is devoted to evaluate the results of creative accounting analyses. In conclusion, there is commented the possible occurrence of creative accounting in the entity's financial statements and the explanatory power of both accounting systems.

O gerenciamento de resultados, conforme definição da Comissão de Valores Mobiliários (CVM), órgão regulador do mercado de capitais brasileiro, é o julgamento arbitrário no processo de reportar as demonstrações financeiras, com o objetivo de influenciar ou manipular os números apresentados, ainda que dentro dos limites prescritos pela legislação contábil e fiscal. Esta tese teve como objetivo principal delinear o perfil das empresas brasileiras com maior propensão ao gerenciamento de resultados. Com este objetivo, foi investigado se existe um padrão de accruals discricionárias (proxy de gerenciamento adotada) entre categorias de variáveis qualitativas e quantitativas que representam os incentivos das empresas a praticar o gerenciamento. As variáveis analisadas incluíram indicadores econômicos, de mercado, medidas de concentração acionária e tamanho, características relacionadas à qualidade da governança, relacionamento com a auditoria, remuneração de executivos, captação de recursos em bolsa estrangeira e sanção do órgão regulador. A amostra analisada abrangeu empresas brasileiras de capital aberto, não financeiras, com ações negociadas na Bolsa de Valores de São Paulo (BOVESPA). O período de estudo foi 1997 a 2006. Os dados foram analisados através de técnicas univariadas e multivariadas. Verificou-se que maiores níveis de accruals podem ser associados a empresas com maior expectativa de crescimento, maior exposição ao risco e menor concentração acionária. Para as variáveis rentabilidade patrimonial, operacional, endividamento e rentabilidade do acionista, maiores valores de accruals foram associados tanto a menores como a maiores níveis destas variáveis. Encontrou-se que são mais propensas a praticar o gerenciamento as empresas não listadas nos segmentos especiais da Bovespa, que não apresentam programa de ADR, que têm plano de opções, que apresentam contratação de serviços não relacionados à auditoria junto ao auditor independente, com valor superior a 5% dos serviços de auditoria e que têm parecer de auditoria com ressalva. Adicionalmente, foi investigado o perfil das empresas brasileiras solicitadas a republicar suas demonstrações financeiras (DF) pela CVM. Estas empresas, de acordo com pesquisas em gerenciamento, podem ser tomadas como intencionalmente envolvidas em manipulação. Observou-se que, em relação às empresas não solicitadas a republicar suas DF, as empresas que foram objeto desta solicitação apresentaram maior endividamento, menor liquidez contábil, menor rentabilidade patrimonial, maior (quando medida pela margem de ebitda) e menor (quando medida pelo retorno sobre as vendas) rentabilidade operacional, menor rentabilidade para o acionista, menor exposição ao risco, menor expectativa de crescimento, maior concentração acionária, menor volatilidade dos retornos das ações e menores accruals discricionárias. No exercício para o qual o refazimento foi solicitado, a maioria não era listada nos segmentos especiais da Bovespa, não apresentava programas de ADR, não tinha plano de opções, foi auditada por Big Four e obteve parecer sem ressalva do auditor. / Earnings management, as the brazilian capital market regulator defines, is the arbitrary judgement in the financial statements reporting, with the goal to influence or manipulate the accounting numbers, even if it remains between the limits of tax and accounting legislation. The main goal of this work was to investigate the profile of the brazilian firms with more incentives to practice the earnings management. With this goal, it was investigated if there is a pattern of discretionary accruals between categories of quantitative and qualitative variables that represent the incentives to practice earnings management. It was investigated if there is relation between earnings mangament and levels of accounting and market based measures, ownership concentration and size. Aditionally it was investigated if the governance quality, the relationship with auditors, the executive compensation, the existence of ADR programs and restated financial statements influences the earnings management practice. The sample analised was non-financial brazilian public traded companies, with stocks traded in the São Paulo Stock Exchange (Bovespa). The investigation period was from 1997 to 2006. Univariate and multivariate analysis was applied to the data. It was found that higher accruals levels can be associated to companies with higher growth expectation, higher risk exposure and lower ownership concentration. It was found that companies with both higher and lower levels of operating profitability, equity profitability, stockholder profitability and debt have higher accruals levels. Companies not listed in the governance levels of Bovespa, without ADR programs, with option plans, with non-relating auditing contracts with their auditors and with qualifed opinion have more probability to practice the earnings management. It was also investigated the restated brazilian firms profile. This companies, according to earnings management research, are intentionally involved in manipulation. It was found that this companies, related to the not restated firms, have higher debt levels, lower liquidity, lower equity profitability, higher and lower operating profitability, lower stockholder profitability, lower risk exposure, lower growth expectation, higher ownership concentration and lower discretionary accruals. The most of them wasn´t listed in the Bovespa governance levels, don’t have ADR programs, option plans, was audited by Big Four and had unqualified opinion in the time of the restated.

The main purpose of this study is to examine the need to modify the theory of accounting to ensure a standardised and comparable approach when accounting and reporting on intellectual capital. A literature review is used to describe intellectual capital categories and how to measure, recognise and report these assets in the financial statements on an entity. Financial reporting operates around strict requirements that are statement of financial position biased posing significant challenges in recognising and disclosing intellectual capital. The study also uses content analysis of corporate annual reports of the top 40 companies listed on the JSE Ltd in 2009 to determine the extent of intellectual capital reporting by these companies. Measuring and recognising intellectual capital in financial reporting is not limited by the requirements in respect of statutory disclosures, discretionary and contextual disclosures are recommended. Results of the content analysis show that companies use these discretionary and contextual disclosures to communicate information on intellectual capital. / Financial Accounting / M. Com. (Accounting)

The diploma thesis "Presentation of the financial statements in accordance by Czech account legislature (ČÚS) and International Financial Reporting Standards (IFRS) in particular entity" aims to assess the presentation of the financial statements according with Czech accounting standard and IFRS. It focuses on the differences resulting from accounting under both accounting systems.

The main target of my diploma work is the evaluation of the financial statements course and the statements in a certain company, the calculation of the income tax and the draft tax strategy for the business entity. At the beginning of the practical part I describe the individual ithems of the financial statements for the years 2010, 2011 and 2012. The following is findings profit, its subsequent transformation and the calculation of taxes of corporate income. The last part of the practical part is tax optimalization and design strategy. I suggested 3 options: tax optimalization by way of depreciation, the donations to good causes and employment of workers with reduced working capacity.

The topic of this diploma thesis is the possibility of detection of errors and fraud in accounting. The aim of the thesis is to evaluate how the user of the financial statements is able to assess the risk of accounting errors and frauds only from freely available financial statements and other information. In this work are used selected detection models - Beneish model, CFEBT model, Jones nondiscretionary accruals and CFEBT risk triangle of accounting errors and frauds are used. In addition, Altman's Z-score was calculated. This diploma thesis is focused on the reporting capacity of financial statements for stakeholders and other external users because it has a significant impact on their economic decision-making. This thesis analyses the published and audited financial statements from the perspective of a user who does not have access to more detailed supporting documentation. The first part of the thesis is theoretical. This section describes the definitions, history, causes, effects and techniques of creative accounting, as well as selected detection models. These should help identify manipulations in the financial statements. Methods and analyses are described in the methodical part. The third part presents the results of the analyses, including their comments and assessments. Finally, it is assessed if the financial statements of the selected entity contain manipulated data, i.e. what is the possibility of manipulation of the accounting data. Evaluates the possibility of analysing financial statements by an external user who only has freely available information and data.

Cette thèse propose d'étudier dans quelle mesure la diversité du genre au conseil d'administration influence la qualité des états financiers. Plus précisément, cette thèse explore la relation entre la diversité du genre au conseil d'administration et la qualité des états financiers en soulignant l'influence des attributs des femmes administrateurs sur la qualité des états financiers.Cette thèse repose sur un large échantillon d'entreprises françaises appartenant à l'indice CAC All-shares d'Euronext Paris entre 2001 et 2010. Après avoir contrôlé l'endogénéité et d'autres facteurs spécifiques au conseil d'administration, à l'entreprise et à l'industrie, nos résultats montrent que la diversité du genre au conseil d‟administration est positivement associée à la qualité des états financiers. De plus, nos résultats mettent en lumière une influence significative des attributs des femmes administrateurs sur la relation entre la diversité du genre dans les conseils d'administration et la qualité des états financiers. En ce qui concerne plus particulièrement les attributs, nous avons trouvé que l'appartenance au comité d‟audit, l'expertise comptable et financière et l'expérience des femmes ont un impact positif et significatif sur la qualité des états financiers. L'ensemble de ces résultats témoigne de l'importance des compétences dans les conseils d'administration diversifiés en termes de genre et révèlent la pertinence des attributs des femmes administrateurs pour assurer la qualité des états financiers. / This thesis proposes to study to what extent board gender diversity influence the quality of financial statements. Specifically, this thesis explores the relation between gender-diverse boards and financial statements quality by highlighting the value relevance of female directors‟ attributes for enhancing the quality of financial statements.This thesis focuses on a large sample of French firms belonging to the CAC-All shares index listed on Euronext Paris over the period 2001 to 2010. We find, after controlling for endogeneity and other board, firm and industry specific factors, that board gender diversityis positively associated with the quality of financial statements. Further, our findings provide evidence of significant influence of female directors‟ attributes on the relation between gender-diverse boards and financial statements quality. With regard to female directors‟ attributes, we find concrete evidence to suggest that audit committee memberships, financial expertise and experience of women have substantial impact on the quality of financial statements. Taken together, these results testify the effective monitoring skills of gender-diverse boards and the value relevance of female directors‟ attributes for ensuring the quality of financial statements. Finally, an important implication of thesis is that the decision to appoint women on corporate boards should be more based on their statutory and demographic attributes than blind implementation of gender quotas.

It has long been accepted that changes in monetary policy have real economic effects; however, the mechanism by which these policy changes are transmitted to the real economy has been the subject of much debate. Traditionally the transmission mechanism of monetary policy has consisted of various channels which include the money channel, the asset price channel and the exchange rate channel. Recent developments in economic theory have led to a relatively new channel of policy transmission, termed the credit channel. The credit channel consists of the bank lending channel as well as the balance sheet channel, and focuses on the demand for credit as the variable of interest. The credit channel is based on the notion that demanders and suppliers of credit face asymmetric information problems which create a gap between the cost of external funds and the cost of internally generated funds, referred to as the wedge. The aim here is to determine the size and lag length effects of changes in credit demand, by both firms as well as households, as a result of changes in interest rates. A secondary, but subordinate, aim is to test for a balance sheet channel of monetary policy transmission. A vector autoregressive (VAR) model is used in conjunction with causality tests, impulse response functions and variance decompositions to achieve the stated objectives. Results indicate that the interest rate elasticity of credit demand, for both firms and households, is interest inelastic and therefore the monetary policy authorities have a limited ability to influence credit demand in the short as well as medium term. In light of the second aim, only weak evidence of a balance sheet channel of policy transmission is found.