Použití ukazatele EVA v konkrétním podniku
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Date
2010-12
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Mark
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Vysoké učení technické v Brně, Fakulta podnikatelská
Abstract
Purpose of the article This article is an illustrative case study describing usage of EVA indicator in
chosen specific company. Key part of the article deals with application of EVA indicator in company.
It consists of procedure how to adjust accounting data into required form and determine weight costs
of capital. Then there is calculation of EVA indicator and other indicators based on it. Last part is
comparison of results.
Methodology/methods The basic method is case study. Its aim is to demonstrate good understanding
or causation explanation of particular example. It takes into account the overall context of the
problem.
Scientific aim The objective of the article is to come near to theoretical economic procedures and
highlight the problematic areas within the practical application of EVA indicator in the business. Next
aim is to emphasize the importance of EVA indicator.
Findings This article illustrates some problematic issues that companies may face while calculating
EVA indicator. Czech accounting standards do not correspond with international accounting standard
methodology known as IFRS for compiling statements. First difficult area was conversion of assets
into net operating assets NOA. Then operating profit is modified in respect of so-called unusual costs
and revenues. The next issue in calculation of EVA indicator is stating average weight costs on
capital. The last area of problems is the time flow of leasing contracts, value of liabilities arising from
them and assessing the lifetime of leased property.
Conclusions The article empirically examined the effectiveness of EVA indicator with regard to its
relation to the accounting performance indicators. It was proved that although the company reported
financial health within the frame of financial analysis, it gave owners only slightly increasing
economic value added. The article points out the need of usege of EVA indicator in corporate
practice.
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Citation
Trendy ekonomiky a managementu. 2011, IV, č. 7, s. 67-82. ISSN 1802-8527.
http://www.fbm.vutbr.cz/cs/fakulta/vedecky-casopis/aktualni-cislo/870-cislo7
http://www.fbm.vutbr.cz/cs/fakulta/vedecky-casopis/aktualni-cislo/870-cislo7
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Peer-reviewed
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cs
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© Vysoké učení technické v Brně, Fakulta podnikatelská