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Research background: With the advancing entrance of digital technologies into all areas of private and business life in the past 10 years a new digital asset referred to as virtual currency or cryptocurrency had been invented. This virtual currency is not yet regulated in most countries and there is a need to establish a legal framework for accounting, taxation and recording of financial transactions so the treatment of transactions with these digital assets is the same across the globalized environment, as different approaches may affect the decision-making of the management and investors or can alter the tax base for income tax purposes. Purpose of the article: The aim of this paper is to compare and discuss the different possible approaches of recording and reporting of the virtual currencies for accounting and tax purposes and to compare the approaches among the Czech Republic, the Slovak Republic and Germany to point out the need for a harmonized solution in a global environment, as dealing with cryptocurrencies is not included in the accounting and tax legal framework in many other countries. Methods: Methods of description, analysis, comparison and synthesis are used to achieve the set aim of the paper. Different approaches to the topic are demonstrated and compared in illustrative Tables. Findings & Value added: The paper highlights the need for a uniform approach for the accounting and tax treatment of virtual currency by comparing the level of legal definitions and different approaches. The most elaborate legal implementation of this topic is in the Slovak Republic where the treatment of virtual currencies is included in the Accounting Act and the Income Tax Act. The Czech Republic approaches cryptocurrencies only on the basis of recommendations from the Ministry of Finance, which is not legally binding to obey. Germany has included cryptocurrencies in the Banking Act, the accounting definition is missing and the tax solution is in the Income Tax Act.

Research background: The Visegrad Four (V4) countries are the Czech Republic, Slovakia, Hungary and Poland. As members of EU they had to incorporate into their national legal accounting framework the European Directives related to annual accounts, valid at the time, where various choices were possible to adopt. Some principles of the international financial reporting standards IFRS also affected the national accounting frameworks more or less, depending on the country. These various influences may affect the external user´s ability to read the published financial statements and compare them. Purpose of the article: The aim of this paper is to compare the relevant national legal framework of accounting in selected areas and the content of financial statements required in the V4 countries and to point out the influence of the chosen presentation of some financial information on selected indicators of financial analysis. Methods: Methods of description, analysis, comparison and synthesis are used to achieve the set aims of the paper. The financial analysis is demonstrated on an illustrative example of reported financial information which is based on the different national accounting legislation. Findings & Value added: The comparison showed some similarities and differences. The main differences amongst the V4 countries are related to the reporting of leased assets and the variation of own production and work-in-progress. Czech Republic does not report the leased assets in the balance sheet of the user of the asset but in the owner´s while the Slovak republic, Hungary and Poland report the asset in the user´s balance sheet which is in accordance with the international accounting standards IFRS (in case of Poland it depends on the lease contract). The Czech Republic reports the changes in own production and capitalization of own work as part of expenses which is in line with IFRS. The Slovak Republic, Hungary and Poland report these items as part of revenues which is in line with the EU Directive but in contrast with IFRS. Also, the Slovak republic and Poland have definitions of the elements of financial statements in their accounting legislation while the Czech Republic and Hungary do not have these definitions. These differences influence the results of ROA, ROE and cost efficiency when comparing the same situation in these countries as it is evidenced on the illustrative example in the paper.

The aim of the paper is to evaluate the reasons of overpayments on all noninsurance social benefits and to define the cases in which a criminal complaint is filed. Partial aim is also to present the proposals of measures to eliminate the occurrence and to increase the enforceability of repayments of unduly paid out social benefits. The goals were achieved by the method of expert interviews with employees of regional labor offices of the Czech Republic, which were conducted in 2020 and 2021. The results show that the most common reason for overpayments on benefits tested for income is the concealment of decisive income and then the number of jointly assessed person in the household. Other reasons include not reporting decisive changes, receiving a benefit in the Czech Republic and also in another state of the European Union or not using the benefit for the intended purpose. The field survey identified an agreement of experts on three proposals to eliminate the occurrence and increase the enforceability of repayments of unduly paid out social benefits. These are the use and being equipped by a proper software, the possibility of deduction of overpayments from the paid out social benefits and the reintroduction of legal offences -misdemeanors for offenders as a form of prevention.

In these times of rapidly increasing energy prices many companies and households are questioning why these prices are so high, what are the reasons. The aim of the paper is to investigate the possible reasons of the increased electricity prices based on the reported information in the financial statements of the selected electricity supplier companies in the Czech Republic. Methodology is based on data collection from the relevant legal and other sources and the published annual reports of 7 selected companies. The price of electricity production is based mainly on the price of natural gas, coal and the CO2 emission allowances.The reported reasons for the increase of the prices of these commodities are mainly the EU regulation on CO2 emissions, covid and the energy crisis anticipation related to the war conflict. The prices of electricity for the end customer such as households or industries consists of a regulated component (such as a distribution fee) and an unregulated component (prices from the electricity supplier). The government of the Czech Republic introduced a cap on the unregulated component of the electricity prices for 2023 to help the end customers.