Despite a general assumption that knowledge sharing among employees is vital for achieving a competitive advantage, only limited evidence has been provided to support it. This article examines the relation between knowledge sharing and three dimensions of organizational performance: innovativeness, financial performance and the use of human recourses. The study uses data from a sample of 112 employees from the Czech Republic. The findings provide evidence that knowledge sharing is significantly related to organizational innovativeness, employees' engagement, and the perceived benefits of knowledge sharing. However, there was no statistically significant correlation between knowledge sharing and financial performance. The results highlight that if a competitive advantage is built on innovativeness, then bilateral communication between supervisors and their subordinates, including the communication of the top management's intentions and employees' ideas, is essential because it facilitates knowledge sharing among employees.

Accounting is a tool of evidence for reporting assets, equities, liabilities, expenses, revenues and profits or losses of the accounting unit. This information is collectively presented in financial statements, which are an essential source of information for external subjects. Nevertheless, the resulting financial statements are relevant only to the extent to which the information charged in the accounting is correct and error-free. For this reason, the aim of this article is to examine the individual areas recorded in accounting in terms of their possible bias due to an error. The objective of this article is to determine which of the areas of accounting are riskiest in relation to the occurrence of errors, and this in connection to the existence of an important foreign partner of the accounting unit. The risk of of the error occurrence is examined from the accountants' perspective. For this purpose, a questionnaire survey was used for data collection focusing on areas that are considered to be the most important by the accountants and the areas which are the most problematic. The receivables, expenses and revenues were indicated as the most significant. The areas of long-term assets, financial assets and inventories appear to be problematic due to tax impacts. Expenses, revenues, accruals and deferrals appear to be problematic due to issues with correct valuation. The difference in perception of risk of the error occurrence in relation to the existence of a foreign business partner was proven only for some accounting areas such as liabilities, inventories or expenses.

Insolvency proceeding and liquidation of bankrupt companies are important topics in days of economic slowdown which aff ected all economies a er fi nancial crisis. This paper aims to fi nd main diff erences between insolvency proceedings in the countries of Visegrad four. The main goal is to describe insolvency law in member countries and then to compare it from the poin of view of main actors. This comparison can help to fi nd which changes and ideas could be applied to improve and make more eff ective the Czech insolvency system. The countries of Visegrad four was selected because of their common history and similar economic development. First of all, the legal background of insolvency proceedings which is possible for legal entities in these countries is examined. Then this paper deals with insolvency proceedings from the point of view of their participants -creditors, debtors and insolvency administrator. We have found that insolvency proceedings in these countries are very similar but there is still some inspiration for the Czech insolvency system.

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