FU060 Accounting and Tax Specifications of a Limited Company

University College Prague – University of International Relations and Institute of Hospitality Management and Economics, Ltd.
summer 2023
Extent and Intensity
2/2/0. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Oldřich Bartušek (lecturer)
doc. Ing. Hana Březinová, CSc. (lecturer)
doc. Ing. Stanislav Klazar, Ph.D. (lecturer)
Guaranteed by
Katedra finančních a účetních studií – University College Prague – University of International Relations and Institute of Hospitality Management and Economics, Ltd.
Prerequisites
Knowledge of business law basics, orientation in accounting definitions, corporate income tax
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
Understand the operation of an LLC. Introduce the entire process from incorporation to dissolution. Point out the accounting and tax implications of selected operations. To know the organs of the company, how they make decisions.
Learning outcomes
Upon completion of the course, the student will be able to -know the acts necessary for the establishment and formation of a company - draw up the opening balance sheet of a company - distinguish between the different options for shareholder contributions - understand the different ways of financing a company - evaluate the tax implications of shareholder remuneration - know the organs of the company and how they make decisions - assess the possibilities of extinction of shareholders' interests in the company - know the methods of dissolution and winding up of a company
Syllabus
  • 1. Natural person versus s.r.o., Establishment and formation of s.r.o. (Memorandum of Association. Deposits of the partners. Formation of the company - opening balance sheet, opening of books) 2. Managing directors (Conclusion of contracts with contractors. Remuneration of managing directors. Travel reimbursements for executives). Income of shareholders (Income from dependent activities. Income from business). 3. Income of partners (Income from profit-sharing. Tax optimisation) 4. Loans to the company (Loans to the company. Loans from the company) 5. Equity (Equity as a difference variable. Structure of equity capital. Tax deductibility of interest) 6. Shareholders' contributions (Contributions to share capital. Cash contributions. Non-cash contributions) 7. Increase and decrease of share capital. Additions outside share capital (Reserve fund. Supplement outside the share capital capital. Loan versus premium) 8. Closing of the accounts of a limited liability company and adjustment of the profit for tax purposes (The most important closing transactions) 9. Closing of the accounts of a limited company and adjustment of the profit or loss to the tax base (Preparation of the profit and loss account and the closing account Balance Sheet. Adjustment of profit or loss for tax purposes) 10. Allocation of the result of an LLC, 11. Participation and extinction of shareholder's participation in the company (Transfer of share. Released share. Disposal of the released share. Termination of shareholder's participation) 12. Dissolution and winding up of the company (Voluntary dissolution of the s.r.o. Compulsory dissolution of the Ltd. Dissolution of Ltd. in connection with bankruptcy. Dissolution of the company with a legal successor (conversion). Liquidation. Dissolution of the company)
Literature
    required literature
  • BŘEZINOVÁ, Hana; ŠTOHL, Pavel. Účetní a daňová specifika společnosti s ručením omezeným. 2. vydání. Znojmo: SVŠE Znojmo s.r.o., 2015. 110 s. ISBN 978-80-87314-69-2
  • Zákon č. 90/2012 Sb., o obchodních korporacích, ve znění pozdějších předpisů
  • Zákon č. 563/1991 Sb., o účetnictví, ve znění pozdějších předpisů
    recommended literature
  • BŘEZINOVÁ, Hana. Účetní a daňová specifika společnosti s ručením omezeným. Praha: Poradce Podnikatele, 2018. 284 s.
Teaching methods
lectures and tutorials
Assessment methods
written test, obtaining at least 60% of the possible points
Language of instruction
Czech
Further comments (probably available only in Czech)
Information on the extent and intensity of the course: 18h přednášek za semestr v kombinované formě.
The course is also listed under the following terms summer 2022, summer 2024.
  • Enrolment Statistics (summer 2023, recent)
  • Permalink: https://is.ucp.cz/course/ucp/summer2023/FU060