FEKT-KPOMAcad. year: 2017/2018
The course deals with the following four problems areas:
1. Monitoring of elementary economic operations in the business, the impact of operations in the financial statements (balance sheet, profit and loss account). Types of costs (fixed, variable), cost models for mass production.
2. The legal framework for doing business in the CZECH REPUBLIC, the business of natural and legal persons according to the Trade Licensing Act and the commercial code, a legal person under Czech law.
3. The tax system of the CZECH REPUBLIC, the basic information about each of the types of taxes (for each tax payer of the tax is described, the subject of taxation and the tax base, the current tax rates, the calculation of the amount of tax, a description of the method of tax collection). Health insurance and social security insurance.
4. Time value of money (interest and future value, odúročení and the present value of future income, profitability and influence factor of risk).
Learning outcomes of the course unit
The outputs of the study and competencies: course graduate is able to:
- Describe the basic rules for the monitoring of economic processes in the enterprise in the financial statements.
- Construct and analyze a simple cost model for mass production of a homogeneous product.
- Describe the steps required in setting up companies, individuals and legal entities in the Czech Republic.
- Describe the different types of taxes in the tax system of the CZECH REPUBLIC.
- Calculate monthly advance on income tax of individuals from dependent activities (employment) including the establishment of health and social security contributions.
- Build the overall tax base individuals from partial tax bases, apply the rules for a reduction in the tax base of a natural person.
- Describe the mechanism of functioning of VAT and excise duties.
- Describe the basic rules for determining the amount of tax in respect of other types of taxes (real estate transfer tax, inheritance and gift tax, real estate tax, road tax).
- Determine the present value of future cash flows and underlying indicators of effectiveness of the business project.
The Student who writes the subject, should have the basic knowledge at the level of secondary education, in the area of mathematics then knowledge of the rules for the simple and compound interest and the partial derivatives of functions of several variables.
Recommended optional programme components
Recommended or required reading
Legislativa ČR - Živnostenský zákon, Zákon o obchodních korporacích, Občanský zákoník a další. (CS)
Podklady pro studium budou v předstihu ve formě aktualizovaných podkladů v e-learningu včetně interentových odkazů. (CS)
Planned learning activities and teaching methods
Teaching methods depend on the type of course unit as specified in the article 7 of BUT Rules for Studies and Examinations.
Assesment methods and criteria linked to learning outcomes
The course is completed the assignment is not classified.
Participation and activity on the exercises.
A written test at the end of the semester.
Language of instruction
1.A business as a matter of blanket. Assets and sources of funding. View of the economic situation of company financial statements-balance sheet, profit and loss account.
2. Measurement of economic activities within the undertaking, the links between accounting statements. The introduction of the concept of account, ideological basis of accounting, accounting principles. Types of costs, methods of their determination. Cost models, analysis of the tipping point.
3. Laws governing business in the Czech Republic, the link between the various regulations. Trade Act. Commercial code-business, Enterprise, forms of legal persons. The tax system of the Czech Republic, the types of taxes, tax techniques.
4. Tax on the income of natural persons, the basic scheme of taxation. Income tax of legal persons. Health insurance and social security premiums. Labor relations, charges and taxation employees.
5. Tax deductible depreciation of fixed assets.
6. Value added tax-fundamentals of functioning in the Czech Republic and in relation to the EU. The principle of operation of the excise duty.
7. Other taxes levied in the Czech Republic. Road tax, real estate tax and the tax on the transfer of ownership. 8. 8. Introduction to financial mathematics, time value of money. The use of time value of money, methods for comparing the effectiveness of business projects.
The aim of this course is to give the students a basic overview on company Economics (accounting statements), legal framework of business according to the Trade Licensing Act and the commercial code in the Czech Republic, with the scheme of the tax system in the Czech Republic and the various kinds of taxes and to teach students to work with the time value of money.
Specification of controlled education, way of implementation and compensation for absences
Participation in the exercises is compulsory, abstention may be replaced in the form of leaves of a separate treatment of the subject. Long period of excused absence from seminars reimbursement according to agreement with the teachers – in the form of a separate treatment of the subject.