History&Present

Profile

The Department’s mission is to prepare quality graduates in the field of accounting and auditing in international environment. Education is an investment into human capital bringing benefits in the long-term horizon. This is why we prepare our students not only with a view to smoothly enter their jobs immediately after graduation, but we provide them with necessary theoretical background, on which they can capitalise when flexibly adapting to the everchanging and challenging requirments of job market.

People

The Department of Financial Accounting and Auditing is the largest workplace of this specialisation in the Czech Republic. The Department consists of approximately 50 employees and Ph.D. students. Furthermore, the Department extensively cooperates with the experts from business practice as well as public administration.

Professional interests

  • Corporate reporting in compliance with Czech GAAP, International Financial Reporting Standards (IFRS) and US generally accepted accounting principles (US GAAP)
  • Public sector reporting in compliance with Czech GAAP and International Public Sector Accounting Standards (IPSAS)
  • Accounting of non-for-profit entities
  • Statutory audit and internal audit
  • Accounting for mergers and acquisitions
  • Consolidated financial statements
  • Industry accounting (agriculture, insurance companies, banks, insolvency, etc.)

Education

The Department guarantees fundamental theoretical, profiling, and elective courses in all three stages  (bachelor, master, Ph.D.) of the study programme “Accounting and Corporate Financial Management”. More than 40 courses cover all areas of financial accounting and auditing (see Professional interests), including English courses. Furthermore, the Department participates in the international Master in Finance and Accounting (MIFA programme).

Research

The Department is engaged both in basic and applied research. The topics are in the line with Professional interests, with the main focus on the specifics of IFRS adoption in transition countries, application of economic theories in accounting and auditing, accounting measurement, and application of mathematical modelling in finance and accounting.

Relation with practice

The Department cooperates intensively with public administration (Ministry of Finance; Ministry of Justice) and professional organisations (Czech Accounting Board, Chamber of Auditors, Chamber of Tax Advisors, Chamber of Certified Accountants), including the direct participation of the Department’s employees in the respective institutions and the lectures of the institutions’ representatives in the courses.

History

Today’s structure of the Department is a consequence of separation of former department of accounting into two departments in 1990. The second department focuses solely on management accounting.