EKE15 Taxes and Financial Statement

University College Prague – University of International Relations and Institute of Hospitality Management and Economics, Ltd.
summer 2022
Extent and Intensity
2/2/0. 5 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Jan Svitlík, Ph.D. (lecturer)
Ing. Jan Svitlík, Ph.D. (seminar tutor)
Guaranteed by
doc. Ing. Martin Petříček, Ph.D.
Katedra ekonomie a ekonomiky – University College Prague – University of International Relations and Institute of Hospitality Management and Economics, Ltd.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
This course introduces students to the impact of economic transactions on the structure of assets, equity, and liabilities within corporations. In addition, the course will sharpen the student's critical thinking skills as they come to understand the meaning of equity, its structure, and changes depending on the legal form of business. The output will be the ability of students to compile and analyze the financial statements, understand their content and the “true and fair” situation of a company. Accounting systems are in direct connection with tax legislation, thus, during the course, students will be acquainted with the tax system in the Czech Republic and its impact on the business.
Learning outcomes
Knowledge: Students will get a basic overview of a typical company's statement, individual accounting systems, and its relation to the state tax system, and consequently, its importance for the enterprise. Abilities: Students will be able to find their way around the issues of taxes and financial statements after completing the course. They will also be able to prepare basic financial statements. Skills: Students will learn to understand the links between individual financial reports and their importance for a company, especially from the point of view of financial analyzes and other outputs.
Syllabus
  • 1. Equity and its changes depending on the legal form of business. 2. Financial Statements. 3. Financial Analysis. 4. Characteristics of IFRS. 5. Characteristics of US GAAP. 6. Tax system in the Czech Republic. 7. Value added tax. 8. Income tax. 9. Audit.
Literature
    required literature
  • TEPPEROVÁ, Jana and Hana ZÍDKOVÁ. Taxation in the CR and EU. Ed. 1. Praha: Vysoká škola ekonomická v Praze, Nakladatelství Oeconomica, 2015. ISBN 978-80-245-2107-7. info
  • SHAMROCK, E. IFRS and US GAAP: a comprehensive comparison. Hoboken: John Wiley & Sons, 2012, 213 pp. ISBN 978-1-118-14430-5. info
    recommended literature
  • BALTAZAR, E. International GAAP 2012: generally accepted accounting practice under international financial reporting standards. 1st pub. Chichester. 2012. ISBN 978-1-119-96245-8. info
Teaching methods
The use of expository lecture sessions to introduce different topics included in the subject, as well as, exercises/labs focused on practical examples will be the primary teaching methods used. During labs, students will work in peer groups of two in order to prepare a presentation on a selected topic. The presentation assignment is to contribute to deepening the student’s knowledge base on the chosen topic in order to develop the student's understanding of the issues of taxes and financial statements.
Assessment methods
Attendance: 10% Presentation: 30% Final Exam: 60%
Language of instruction
English
Further Comments
The course can also be completed outside the examination period.
The course is also listed under the following terms summer 2019, summer 2020, summer 2021, summer 2023, summer 2024.
  • Enrolment Statistics (summer 2022, recent)
  • Permalink: https://is.ucp.cz/course/ucp/summer2022/EKE15