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CZECH TECHNICAL UNIVERSITY IN PRAGUE
STUDY PLANS
2023/2024

Tax System and Accounting

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Code Completion Credits Range Language
126DUCE Z,ZK 4 2P+1C Czech
Garant předmětu:
Jana Frková
Lecturer:
Jana Frková, Olga Heralová
Tutor:
Jana Frková, Olga Heralová
Supervisor:
Department of Construction Management and Economics
Synopsis:

The subject is divided into lectures 1 hour per week and exercises 1 hour per week. Lectures take place according to the course outline listed below. In the exercise, students prepare their own business plan for a selected business activity according to the specified syllabus. Firstly students will work in team with intention to understand connections among tax, expenditure policy and will suggest tax adjustments to reduce deficit. The will learn how to prepare Income tax return, Social security and Health Insurance return. Students will train how to read and evaluate Financial Statements and compute VAT.

Requirements:

Recommended attendance at lectures with a maximum of 2 absences, mandatory attendance at exercises. Submission of assigned tasks in the exercise within the prescribed period and to the prescribed extent.

Syllabus of lectures:

1. Macroeconomic tax contexts, state fiscal policy, government sector finances, tax system of the Czech Republic, international comparison of tax burden.

2. Income tax with a focus on business entities of natural and legal persons engaged in the construction industry. Taxation of income from abroad.

3. Taxation of wages, insurance premiums as a special tax - social security and health insurance of the self-employed.

4. Value added tax, principle of collection, VAT in cross-border transactions, VAT in the construction industry.

5. Taxes on real estate. Administration of taxes, fees, levies and advances, tax code.

6. Financial accounting and reporting, subject, meaning, function. Financial and managerial accounting.

7. Balance sheet - an overview of the property of the construction company and the sources of its coverage, balance sheet principle and accounting principle.

8. Profit and loss statement - an overview of costs, revenues and the economic result of the construction company.

9. Principle of accounting for VAT, accounting for income tax, accounting for wages incl. levies and taxes.

10. Liabilities and receivables, management of receivables from business relationships, write-off and adjustments to receivables.

11. Long-term tangible and intangible assets, accounting and tax depreciation.

12. Financial statement, closing, distribution of profit/loss.

13. Overview of the company's cash flows, indirect method, Cash Flow statement.

Syllabus of tutorials:

1.Teamwork of students: searching and analysing of data published by Ministry of Finance (and similar institutions in line with state budget).

2.Creating variants how to adjust taxes and evaluation of suggested variants based on impact on state budget, companies and individuals.

3.Based on complex assignment students will compose Income tax return – income due to employment contract.

4.Then continue in Income tax return for small entrepreneur (self-employed).

5.Then continue with composing social security and health insurance return for self-employed person.

6.VAT computing.

7.Company statements recorded at Trade register will be used for understanding links among accountings and taxes (income tax etc.)

8.Principles of financial accounting will be explained with foccuss on understanding of 3 key statements (P&L Statement, Balance Sheet, CF Statement) with intention to recognise financial condition of company.

9.Links among tax duties and accounting of company.

10.Analysis of liabilities and receivables, example how to manage trade receivable.

11.Long term assets – depreciation computing.

12.Examples: profit distribution, how to cope with loss.

13.Cash Flow Statement composing.

Study Objective:

The aim of the subject is to provide a comprehensive view of the tax system in the Czech Republic and to provide basic insight into key taxes and their application in the construction industry. As part of the course, the student will learn to understand the principle of calculating selected taxes, get acquainted with the basics of financial accounting and the principle of accounting, understand key accounting statements so that he can recognize the financial situation of a construction company from them and finally be able to connect the tax obligations of a business entity with accounting.

Study materials:

[1] Skálová, J. Daně v účetnictví. 180 str. Praha : Wolters Kluwer. 2017. ISBN 978-80-7552-832-2.

[2] Janhuba, M. et al. Finanční účetnictví. Obecné otázky. 304 str. Praha : C.H.Beck-CZ 2016. ISBN 978-80-7400-614-2

[3] Dušek, J. Daně z příjmů - přehledy, daňové a účetní tabulky. 208 str. Praha : Grada. 2020. ISBN 978-80-271-1048-3.

[4] Straková, H.; Kuneš, Z. Daň z přidané hodnoty. 444 str. Praha :Vox. 2019. ISBN 9788087480724.

[5] Máče, M.: Účetnictví a finanční řízení. 552 str. Praha : Grada. 2013. ISBN 78-80-247-4574-9

Note:
Time-table for winter semester 2023/2024:
06:00–08:0008:00–10:0010:00–12:0012:00–14:0014:00–16:0016:00–18:0018:00–20:0020:00–22:0022:00–24:00
Mon
roomTH:C-219

16:00–17:50
(lecture parallel1)
Thákurova 7 (budova FSv)
C219
roomTH:C-219

18:00–19:50
ODD WEEK

(lecture parallel1
parallel nr.102)

Thákurova 7 (budova FSv)
C219
roomTH:C-219

18:00–19:50
EVEN WEEK

(lecture parallel1
parallel nr.101)

Thákurova 7 (budova FSv)
C219
Tue
Wed
Thu
Fri
Time-table for summer semester 2023/2024:
Time-table is not available yet
The course is a part of the following study plans:
Data valid to 2024-04-11
Aktualizace výše uvedených informací naleznete na adrese https://bilakniha.cvut.cz/en/predmet6280806.html