Václav Klepáč, David Hampel
The best defense against existential problems of a company appears to be good ﬁnancial health, based on a satisfactory ﬁnancial situation. If, however, considerably weakened, the company gets into ﬁnancial distress, which may turn into a ﬁnancial crisis and end up in bankruptcy. The primary means, by which we would be informed about the condition of the enterprise, are bookkeeping data of a company. From there, based on ﬁnancial analysis, we can identify scenarios leading to good management decisions and, consequently, to the ﬁnancial health of the company.
Matus Kubak, Andrea Tkacova, Armenia Androniceanu, Manuela Tvaronavičienė, Eva Huculova
Financial literacy (FL) represents a basic and inevitable skill that is important for human existence in the 21st century. In recent years, there are evident activities in a support of ﬁ nancial education especially from the European Commission (EC) side. The EC issued “The Communication on Financial Education” report. This report explicitly states economic and social advantages of a higher level of FL as well as fundamental principles of ﬁnancial education control according to the chosen procedures (European Commission, 2007).
Boris Radovanov, Aleksandra Marcikić
Technical analysis is an approach to predicting future prices based on detecting regularity patterns in prices, volume and other market indicators. It ordinarily proceeds by noting market activity in some graphical form and then deducing possible future trends from the observed historical data. This paper stands on the postulate that stock prices manifest various regularities; once these regularities are identiﬁed, technical analysts and/or market participants should be consulted about what is likely to happen next.
Martin Vejačka, Tomáš Štofa
The rapid development of information and communication technologies (ICT) in recent years has brought major changes in many areas of the economy and even created its new sectors. Rising complexity of technological and heterogeneity of technological infrastructure and their applications contributed to changes in every business area (Voříšek et al., 2015). New opportunities to sell products and provide services arose in the electronic environment. Customers routinely buy in e-shops and electronic banking became a very important form of banking services usage in last two decades.
Jana Janoušková, Šárka Sobotovičová
The issue of ﬁscal decentralization in the context of the ﬁscal autonomy of local selfgovernments is still current. The Czech Republic is among the countries with lower tax autonomy (Blöchliger & Pinero Campos, 2011; OECD,
2016; Sedmihradská, 2015). The revenue from assigned taxes and from subsidy programs makes up decisive share in municipal budgets. The state speciﬁes the percentage of revenue for this type of tax that belongs to a speciﬁc part of the budget system (in the case of the Czech Republic i.e. regions and municipalities).