Methodological elements of accounting in terms of Czech GAAP - practical applications

This bachelor thesis is focused on the methodological elements of accounting in accordance with Czech accounting regulations. The aim of the work is the assessment of the practical application of various methodological elements according to the legislative conditions of the Czech Republic. The first part describes all thirteen accounting principles and especially all their problems. The next step of the thesis is defining of basic liabilities while doing accounting. At the end of thesis is the explanation of the various relationships between accounting and auditing and also defining the entities which are subject to audit. The practical part of this thesis deals with the characteristics of the enterprise and its specialization. Methodological elements will be applied individually to the company Bosch Diesel Ltd headquartered in Jihlava and subsequently evaluated. Application of accounting principles will be implemented for the year 2014, The years 2012-2014 will be analyzed and compared, then. The result of this work is to evaluate whether the chosen entity was following all accounting principles prescribed by law. Subsequently, the results will be analyzed and various recommendations for the selected entity will be given