Course detail

Management Minimum

FEKT-XPOMAcad. year: 2016/2017

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).

Language of instruction

Czech

Number of ECTS credits

Mode of study

Not applicable.

Guarantor

doc. Ing. Pavel Legát, CSc.

Department

Department of Microelectronics (UMEL)

Learning outcomes of the course unit

Course graduate is able to:
Describe the basic rules for the monitoring of economic processes in the enterprise.
Build a simple cost analysis 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 rules to reduce the tax base individuals and major discounts on tax on income tax of individuals.
Describe the mechanism of functioning of VAT. Describe the mechanism of functioning of the excise duty. Apply 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). To determine the present value of future cash flows.
Apply the rules for working with the time value of money in the assessment of the effectiveness of the business project, and in determining the value of the company.

Prerequisites

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.

Co-requisites

Not applicable.

Planned learning activities and teaching methods

The course is completed the assignment is not classified.
Participation and activity on the exercises.
A written test at the end of the semester.

Assesment methods and criteria linked to learning outcomes

Requirements for completion of a course are specified by a regulation issued by the lecturer responsible for the course and updated for every.

Course curriculum

1. As a matter of business mail. 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.
3. Types of costs, methods of their determination. Cost models, analysis of the tipping point.
4. Laws governing business in the Czech Republic, the link between the various regulations. Trade Act. Commercial code-business, Enterprise, forms of legal persons.
5. The tax system of the Czech Republic, the types of taxes, tax techniques.
6. Tax on the income of natural persons, the basic scheme of taxation. Income tax of legal persons.
7. Health insurance and social security premiums. Labor relations, charges and taxation employees.
8. Tax deductible depreciation of fixed assets.
9. Value added tax-fundamentals of functioning in the Czech Republic and in relation to the EU. The principle of operation of the excise duty.
10.Other taxes levied in the Czech Republic. Road tax, real estate tax and the tax on the transfer of ownership.
11.Introduction to financial mathematics, time value of money.
12.The use of time value of money, the value of the company (project), methods for comparing the effectiveness of business projects.

Work placements

Not applicable.

Aims

The aim of the 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 seminars is required, you can opt to replace the leaves with another group. Long period of excused absence from seminars reimbursement according to agreement with the teachers – in the form of a separate treatment of the subject.

Recommended optional programme components

Not applicable.

Prerequisites and corequisites

Not applicable.

Basic literature

Not applicable.

Type of course unit

Lecture

26 hod., optionally

Teacher / Lecturer

doc. Ing. Pavel Legát, CSc.
doc. Ing. Radovan Novotný, Ph.D.

Syllabus

Preliminary lecture (content of course, updating of the educational literature).
The Czech business law.
The Czech trade laws and regulations.
Corporate bodies according the Czech legal norms, commercial code.
Trading partnership in the Czech according commercial code.
Fundamentals of bookkeeping.
Balance sheet, assets and liabilities.
Basic terms of bookkeeping.
Basic terms of bookkeeping (income, expenses, costs, revenues, depreciation, accumulated depreciation).
Fundamentals of bookkeeping in the manufacturing and business firms.
Profit and loss account (interpretation of economic results and relationship with balance sheet).
Methods for assessment of firms, relationship with accounting statement.
Important aspects of relationship betwen tax rules and account rules. Closing discussion.

Fundamentals seminar

26 hod., compulsory

Teacher / Lecturer

doc. Ing. Radovan Novotný, Ph.D.

Syllabus

Practical training according the actual legal state.
Start-up of firm (case study)
Examples of accounting.
Tax depreciation calculation.
Accounting statement (exercise)
Company value calculation (examples).

VUT

Faculties

University Institutes

Parts

Management Minimum

Type of course unit