SEDLÁČEK JAROSLAV, VALOUCH PETR, KONEČNÝ ALOIS: Synergic motives and economic success of mergers of Czech companies. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2013, LXI, No. 7, pp. 2721-2727 One of the motives for mergers and acquisitions is the synergy eff ect, which can take several forms. This paper tries to fi nd out whether mergers implemented at the Czech market bring positive or negative synergies. The basis of our investigation is the database of the companies that implemented a merger within [2001][2002][2003][2004][2005][2006][2007][2008][2009]; out of these, the companies that published their fi nancial statements in a digitalized form were selected. We monitored the development of six indicators characterizing the economic status of a company. The values of these indicators were compared for all participating companies before the merger and for the successor company three years a er the merger. The hypotheses were formulated so that they expressed an expectation of a positive synergy brought about by mergers. However, hypothesis testing has not provided a clear result. A positive eff ect of a merger on the key indicator of net assets, whose growth means an increase in the accounting value of the company a er the merger, has been proved for small and medium-sized companies only. The eff ect of mergers on the increase in indicators has been confi rmed for retained earnings from past years and personal costs. Further research will concentrate on the relations between the indicators with the aim to create an integral indicator for the economic success of mergers. company transformation, merger development, motives for mergers and acquisitions, synergy, methods for measurement of economic eff ects of mergers, hypothesis testing, assessment of merger success
The paper “The concepts of goodwill accounting” analyzes and compares several problems arising from accounting techniques concerning goodwill according International Financial Reporting Standards or Generally Accepted Accounting Standards of the United States of America. It is concentrated on evaluation of the harmonization level between these two Standards and in cases where these standards differ it tries to suggest the better solution for the selected problem. At the beginning it is oriented on the definition of goodwill in both Standards that is unfortunately not very precisely stated. On the contrary the way of its value calculation is defined very well. In the next chapters is emphasized that there is precise differentiation between accounting for goodwill existing and/or acquired in course of entity`s ordinary business activity and the ones acquired in course of a business combination. And because this segregation is respected in the rest of this paper the accounting procedures concerning goodwill identification, useful life, amortization and connected values (carrying amount, recoverable amount, fair value and the amount of net consideration transferred) are studied from this points of view too. Last but one chapter is interested in impairment of goodwill and in the end there are particular gained knowledge generalized into final conclusions.
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