Financial and Tax Environment

Relations:

It is not possible to register for the course U63C5301 if the student is concurrently registered for or has previously completed the course 32BC-P-FIDS-01 (mutually exclusive courses).

The requirement for course U63C5301 can be fulfilled by substitution with the course 32BC-P-FIDS-01.

Course guarantor:

Lecturer:

Tutor:

Supervisor:

Institute of Economic Studies

Synopsis:

Development and current state of scientific knowledge in the field of management of financial institutions, financial and tax system in the conditions of an advanced market economy. Definition of the category „financial institutions“. Classification of financial institutions. Typology of financial institutions. The position and importance of financial institutions in the current market system. Tax system in the Czech Republic, system and classification of taxes. Orientation in basic financial cases and calculations.

Requirements:

The student takes an exam, which consists of two parts - Taxes and the tax system - Financial system and its regulation. The exam is performed in the form of tests - two continuous and then a final test of the whole issue. If they are not enabled by contact, then they will be implemented through the tools of the information system within the set deadlines of the teacher.

Syllabus of lectures:

Public and financial institutions in the Czech Republic and the EU.

. Fiscal policy and imbalances of public finances (balance and operations of the central government, mechanisms of fiscal policy, the link of debt financing to capital markets).

. Tax and its properties. Tax construction and tax system in the Czech Republic.

. The influence of taxes on the behavior of economic entities, taxation of income, property and consumption. Tax efficiency and redistributive effects of taxes. The link between debt financing and capital markets.

. Personal income tax and social insurance, income from dependent activity from the point of view of personal income tax, employment income for social insurance, corporate income tax. Value added tax, road and property taxes.

. Financial markets, model of allocation of funds on the financial market, structure and institutional arrangement, financial intermediation. Trends in world financial markets. Capital market theory.

. Money, issues and circulation of money. Investment theory - demand, supply, the relationship between returns, risks and liquidity. Financial market instruments, their types and trading. Tax aspects and their influence on investor decision-making, influence on realized income.

. Banks, the banking system in the Czech Republic and its regulatory framework. Development after 1989, the bank and its role in the financial market, types of banks. Central bank - origin, functions and balance of the central bank. Czech National Bank, European Central Bank, current development of central banking. Regulation and supervision of financial institutions. Monetary policy, central bank and monetary policy instruments.

. Banking transactions and their characteristics. Impact of banking transactions on the main financial statements of a commercial bank, the balance sheet of a commercial bank and the profit and loss statement of a commercial bank.

. Payment system organization and payment products (payment cards, bills of exchange, checks). Electronic banking and cloud banking.

. Deposit (deposit) banking products and their parameters - current and deposit accounts, building savings, debt securities, mortgage bonds. Deposit insurance.

. Credit banking products and their parameters (course of credit relationship, loan agreement, methods of determining and calculating interest, construction of amortization plan) - overdrafts, discount, consumer and mortgage loans, bank guarantees, others. Alternative forms of financing (factoring, forfaiting, leasing). Bank risk management.

. Types and characteristics of investment instruments - debt securities, shares, collective financing, derivatives, real estate and precious metals. Theory and evaluation of portfolio performance.

. Insurance markets as a part of financial markets, insurance market in the Czech Republic and the EU. Insurance as a tool of risk elimination, importance from a macroeconomic and microeconomic point of view. Breakdown and types of insurance. Price and insurance price structure. Pension insurance.

Syllabus of tutorials:

Study Objective:

After completing the course, the student will be able to analyze and analyze the basic tax approaches. Can use advanced argumentation to explain the different approaches to financial decision-making companies, the use of banking products and clarify the function of individual financial institutions for financial management.

Study materials:

[P]DUCHÁČKOVÁ, E. Pojištění a pojišťovnictví. Praha: Ekopress, 2015. ISBN 9788087865255.

[P] JINDŘICHOVSKÁ, I. Finanční management. Praha: CH BECK, 2013. ISBN 978-80-7400-052-2.

[P] RADOVÁ, J., DVOŘÁK, P., MÁLEK J. Finanční matematika pro každého. 8., rozš. vyd. Praha: Grada, 2013. ISBN 978-80-247-4831-3.

[P] REVENDA, Z., et all. Peněžní ekonomie a bankovnictví. Praha: Management Press, 2012. ISBN 978-80-7261-279-6.

[P] VANČUROVÁ, A., LÁCHOVÁ, L. a H. ZÍDKOVÁ. Daňový systém 2020. Praha: Wolters Kluwer, 2020. ISBN 978-80-7598-887-4.

[P]SCHLOSSBERGER, O. Platební služby. Praha: Management Press, 2012. ISBN 978-80-7261-238-3

[D] MISHKIN, F., The Economics of Money, Banking and Financial Markets. Prentice Hall, 2013. ISBN 0132770245.

Note:

Further information:

https://moodle-vyuka.cvut.cz/course/view.php?id=5908

No time-table has been prepared for this course

The course is a part of the following study plans:

• B-EK-prez.forma od 16/17 (compulsory course)
• B-EK-prez.forma od 17/18 (compulsory course)
• B-EM-P prezenční studium od 18/19 (compulsory course)
• B-EM-P prezenční studium od 19/20 (compulsory course)
• B-EM-P prezenční studium od 20/21 (compulsory course)
• B-EM-P prezenční studium od 21/22 (compulsory course)
• B-EM-P prezenční studium od 22/23 (compulsory course)