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There still exist the differences in provision of VAT, in interpretation of VAT provisions and application of the rules in practice between the EU member states. Application of VAT during the supply of goods with installation to other EU member state, both during the existence of establishment in the state of customer and also without it, is considered to be one from the problematic field. Other discrepancies are created by inclusion of the sub suppliers, who can come from other EU member state or from the same state as customer, to this transaction. Questions of VAT application during the supply of goods with installation to other EU member state were processed by using standard methods of scientific work in the frame of five selected EU countries - Hungary, Poland, Romania, Slovakia and Czech Republic.

Brewing is a very important part of the food industry with a successful tradition. Beer, brewer's malt and hops are important for export too. The situation in the beer market is changing dramatically at this time. Smaller local breweries are fighting with big competitors for the first time through expansion and innovation of the production line. Brewing development will be probably the same as in another European states, where are twenty big breweries to a thousand small ones. The strategy of Czech beer production is focused on the traditional production of classic Czech beer. For small breweries there are big opportunities in beer tourism, beer path building, brewery sight-seeing and brewery festivals for example.
This paper describes a particular firm's activities with using Porter's value chain and an analysis of its financial situation. In final part the Strength and Weakness analysis of the company Pivovar a sodovkárna Jihlava, a. s. is done and on the basis of the results are defined the appropriate advices.
During the recent period of time there have been many researchers from the FBE MUAF in Brno, who focused on the analysis of the food company's internal environment, e.g. Bečvářová (2005); Duda (2006, 2007); Jánský (2002, 2005); Syrovátka (2000); Veselská (2005); Zrůst and Pyšný (2007); Živělová a kol. (2004). The research on trade in food is solved firstly by Presová and Tvrdoň (2005).

The paper is focused on the performance measurement of the Support and Guarantee Fund for Farmers and Forestry (SGFFF) as a main instrument of a capital reinforcement of the Czech agricultural enterprises restructuring during the last ten years. New possibilities shaped up by the CAP exercise are evaluated as well. The principles of the SGFFF function from the point of view of agricultural restructuring and regional allocation of the financial resources as well as the reason why subsidy of the supported loans' interest rates have been employed are cleared up there. Results are discussed upon an analysis of the Fund activity. According to results of the analysis, it can be claimed that the Fund has became an important part of supports for agricultural sector. From the point of view of criterions of regional allocation of financial resources there was found out the level of supports has not been derived from the different natural and soil quality. The economic results and a high level of the prospectus have been used as main criterions for the decision-making system. The activity of SGFFF continues within the State Aid in the framework of the CAP EU and so that the loans for farmers are still more available for restructuring of the Czech agriculture and improving of its competitiveness.

The aim of the article is to evaluate the preferences of the ECB in monetary policy and to compare them with preferences of the central banks of new EU member countries from Central and Eastern Europe. The ECB's responsibility for the primary objective (price stability) often contrasts with the requirement for economic growth stabilization policy from the national governments.
There are doubts if the current members of Eurozone constitute an optimum currency area (the Eurozone 12 is recently the combination of rapidly growing and slow-growing - low inflationary countries). The differences between the countries will even expand during the European monetary union enlargement by new EU member countries. Consequently the probability of asymmetric shocks will increase. The main question is the ability of ECB to fulfill the needs of all EMU member countries in terms of optimal monetary policy. In the first part the authors analyze differences between the preferences of the ECB and national authorities (governments). The negative experiences of Ireland, Italy and other EMU members with current status quo help us to understand fear of future member countries from possible impact of common monetary policy on their national economies.
The second part of the paper deals with interest rates determination by ECB and compares it with expectations (requirements) from EMU member and EMU candidate countries. The main contribution of the article may be seen in central bank's preferences analyses - the preferences are defined as the parameters in Taylor rule (the weights given by ECB and national authorities to the price stability and economic growth stimulation).
The hypothesis is defined as following: are the preferences of ECB in line with the preferences of national central banks of EMU candidate countries?
The empirical analysis is based on the Taylor rule decomposition. The hypothesis is tested by regression analysis. Time series regression model uses relations between the inflation target, potential output, current macroeconomic situation on the one side and current monetary policy strategy, represented by interest rates, on the other side.
A range of empirical studies refers to differences between the desired interest rates of member and future member countries of EMU. The level of desired interest rates changes continuously according to the current economic situation of individual national economies. The differences are given by dissimilarities in financial systems, transmission mechanisms, and historical context of monetary arrangements. The authors suppose that the national authorities' and central banks' preferences are constant in the short time or identical before and after enlargement. The main idea of the article is that the traditional approach, which compares desired interest rates by national central banks, is irrelevant before full membership in EMU. The center of the problem is the mutual agreement on preferences of common monetary policy. The answer to the question: how to evaluate real impact of common monetary policy on real economy of EMU candidate countries after their entrance to Eurozone, is expected result of the article.

The paper analyses market trends of the building societies in the Czech Republic in years 1995-2003. The main aim of the contribution is to verify the following thesis:
1. In previous development, it comes to the permanently increasing growth in the market of deposits and loans of building saving.
2. Concentration in the market of building saving decreases.
Analyses is made on two partial markets : deposit market and market of building saving loans. Growth rate index was chosen for the evaluation of the growth of both submarkets. Herfindahl-Hirchman index was chosen for evaluation of concentration trends. Analyses of the building saving market using the stated methodical approaches enables to enunciate the findings for the appointed hypothesis.
Both submarkets do not show permanent increasing of growth rate in the period 1995-2003. The growth rates of both markets are declining in the first part of the period, the growth rates are increasing in the second part of the period. The concentration level of both markets is decreasing in years 1998-2003. This trend in the building societies market was influenced namely by general trend of market rate of interest in this period, by increasing exploitation of the real estate credit as a form of housing financing and by more activ credit policy used by minority building societies.
The concentration development in the market of deposits and loans of building saving is not identical with the development of concentration in the market of deposits and loans in the whole bank sector. It may be deduced, that the development in the whole bank sector has been affected by the factors that have not operated in the market of building saving - decrease of banks in the bank sector of Czech Republic and educing of the part of redressed bank assets out of Czech Republic bank sector.

The particular samples were made of the steel 14 260 and were exposed to following different heat treatments - soft annealing, normalizing, heat refining and hardening. After these heat treatments the samples were exposed both laboratory tests and also field tests. The wear test particles was carried out on the device with abrasive canvas. The laboratory test was realized in room temperature and normal atmospheric pressure. Measured values were statistically and graphically analyzed and interpreted. Results of the tests confirmed our preliminary expectations that the extent of the wear would depend on the value of hardness of the used materials. The hardest structure of the hardened steel had the smallest material decrease compared to the largest decrease of the soft annealing steel.
Tested samples were fixed to a cutting edge of a ploughing aggregate which performed work in previously determined sector area. At intervals of each 400 meters there were measured decreases of weights and surfaces of the samples and consequently were evaluated and graphically interpreted relating abrasive wear of the particular samples. Also in this test the results form previous laborator test were confirmed and the smallest wear had the hardened steel samples.
On the basis of the measured values we can deduce the high importance of the right choice of the adequate material which is able to resist to the wearing process best. This decision will significantly affect not only the length of the service life of the particular parts but also the whole machinery as well as its economic operation.

For the Czech insurance industry, it has been 13 years since the passage of the Insurance Act in 1991, which did away with the monopoly and allowed competition in this business sector. In our evaluation, we can state that the positives outweigh the negatives. A relatively high pace of growth in total premiums written was achieved and the ratio of premiums written to GDP increased, up to 4,0% in 2002. In comparison with EU countries, the Czech insurance market is behind in 2 global indicators: the ratio of premiums written to GDP and the share of life insurance in total premiums written. The Czech insurance market must count on greater competition from foreign insurance companies, as the Czech Republic was May 1, 2004, accepted as a member of the European Union.

The main objective of this work was to evaluate influnce of transportation on the air quality using IAQ (index of air quality). The data from one of the AIM station were evaluated. The trend in air quality development in years 1996-2003 was described. In days with adverse IAQ values the probable cause of the phenomenon was determined. It is obvious that adverse IAQ values were recorded during these synoptic situations: centre anticyklone, wedge of high pressure, weak pressure field and warm sector of front systém. The most frequent was the centre anticyklone synoptic situation which is typical (mainly during winter) by air temperature inversion.

Kernel smoothers belong to the most popular nonparametric functional estimates. They provide a simple way of finding structure in data. The idea of the kernel smoothing can be applied to a simple fixed design regression model. This article is focused on kernel smoothing for fixed design regresion model with three types of estimators, the Gasser-Müller estimator, the Nadaraya-Watson estimator and the local linear estimator. At the end of this article figures for ilustration of desribed estimators on simulated and real data sets are shown.

The paper deals with the contemporary issue of municipal finance. Municipalities in Czech Republic make up important part of public sector and influence the fiscal performance of Czech economy. Simultaneously, the capital expenditure of municipalities has a crucial role in shaping of the entrepreneurial environment and of an environment in the widest sense. The goal of this paper was to analyse the capital expenditure of municipalities in Czech Republic from the national economy point of view and to analyse the financing of capital expenditure between 1994 and 2003. The emphasis was given to the relation between the capital expenditure and the indebtedness of municipalities. The analysis reveals that the capital expenditure make significant share of overall public capital expenditure, the share exceeds 50%. The capital expenditure of municipalities also participate considerably on gross fixed capital formation (10.57% in 2003) and therefore on GDP formation (2.83% in 2003). However, considering the economic cycle, capital expenditure of municipalities has pro-cyclical effect. Analysis the structure of financing of capital expenditure, the operating surplus is very important resource. However, it is not sufficient one even considered together with capital incomes and capital subsidies. It results in using loans to finance the capital expenditure. This happened between 1994 and 2003, with the exclusions of 1998 and 1999. Because of the future high need of capital expenditure, it can be expected that municipalities will employ even more loans. The link between capital expenditure and indebtedness of municipalities can be identified. There is another factor in effect. The volume of operating (especially tax) incomes is not sufficient. The state decentralizes significant portion of activities without providing municipalities with corresponding income. Municipalities then are not able to generate adequate operating surplus to finance the deficit on capital budget. Consequently, the rate of growth of capital expenditure of municipalities declines as well as the share of capital expenditure on overall municipal expenditure.

The main purpose of this paper is to show the importance of financial markets to the Libyan economy. At present, the country is preparing to establish a financial market as a requirement of economic reform with its goal to achieve economic stability and improve the volume of investment, as well as raising the growth rate. As the analysis in this paper shows, there are achievements with respect to the financial indicators, but it is limited with respect to the volume of investment and the level of incomes. This leads to the importance of establishing the financial market which is one of the primary requirements to achieve these goals.

Rural tourism has come to occupy a prominent position in the debate about rural restructuring in all OECD countries, partly because of demand changes which favour rural tourism and partly because rural agencies recognise a need to provide economic activities with potential for growth in a rural economy in which traditional providers of rural employment (such as agriculture) have been shedding labour at a rapid rate.
Well-designed strategy is essential to its success in impacting on the rural economy. The structures for collaboration and co-operation must be developed and combined with a process of education and training. Co-operative effort must be effective and sustainable. The tourism related businesses should not be isolated from the larger community and its issues.
The principal motivation for a community, business or region to serve tourists is generally economic. An individual business is interested primarily in its own revenues and costs, while a community or region is concerned with tourism's overall contribution to the economy, as well as social, fiscal and environmental impacts. A good understanding of tourism's economic impacts is therefore important for the tourism industry, government officials, and the community as a whole.
The principal objective of the study, that is reported here, was to determine the potential income of farmers from the provision of agro-tourism services. First, the paper reviews selected results of the visitor spending survey in alternative types of rural tourism of the region Southeast (Czech Republic); second the direct economic benefit of the agro-tourism in this region is estimated, and finally, critical factors reducing the effectiveness of agro-tourism as a rural development instrument are drawn.

Forests owned by the state in the Czech Republic are managed by Forests of the Czech Republic, state enterprise with its headquarters in Hradec Králové. The private companies (established during the economic reform in 1992 and privatization in 1994) carry out silvicultural and logging activities in state forests on the basis of contracts. This study is focused on forest enterprises (contractors); the current situation of business environment in the Czech Republic was studied. There have been found 38 236 forestry entrepreneurs in the Czech Republic, and divided according to legal title, to numbers of employees onto groups on the basis of size and availability of their accounting data in the first part of the article.
The second part deals with data mining from accounting by a process known as a Financial statement analysis, which has to make an informed decision for owners or managers of the enterprise. Ratio analysis is regarded as the basic methodical instrument of financial analysis. Ratio analysis effectively summarizes multiple financial statement categories into few relative indices of performance and financial position. It is powerful method for managing with the complexity and volume data presented in financial statements. The relative indices converse financial statement categories into measures and it helps control for differences across companies and across time. This article contains chosen forestry contractors and describes the most useful economic indicators (ratios) and takes into account possible utilization in the sector generally.