Abstract
The goal of this study is to measure how many differences between accounting norms of the United States and of Latin American countries impact the profit reported by firms of these latter countries. The Gray’s “Conservatism Index”, which measures the degree to which a national accounting system – in this work, Argentina, Brazil, Chile and Mexico – reports lower (“conservative”) or higher (“optimist”) profits than the US GAAP, was calculated. The study encompasses all firms of these countries with ADRs in the NYSE in the period 2001-2005, and is based on published data of SEC’s 20F Forms and on the Economatica’s databank. Mean and median measurements indicate that, in general, the accounting practices of Latin American countries result in profit values that are lower than those reported as per US GAAP. However, mean tests and the frequency distribution show that there is no representative homogeneous pattern, except for Chile, with a mean IC significant at 10% in the sub-periods 2001-2002 and 2003-2005, and for Brazil only in the last studied triennium. Key words: International Accounting, US GAAP, Latin American Accounting Norms, Conservatism Index.
Highlights
Median measurements indicate that, in general, the accounting practices of Latin American countries result in profit values that are lower than those reported as per US GAAP
A partir de 2006, 92 países já possuem suas normas harmonizadas conforme os padrões internacionais de contabilidade (IFRS – International Financial Reporting Standards) do IASB (International Accounting Standards Board) (Martins in Nyama, 2005, p. xii)
A identificação de um comportamento oposto nos dados do México pode ser decorrência de uma maior aproximação das normas contábeis desse país com os US GAAP, destoando do comportamento dos demais países da América Latina
Summary
US GAAP X LATIN AMERICAN ACCOUNTING: IMPACT OF NORMS’ DIFFERENCES ON REPORTED PROFIT BY FIRMS WITH ADRS IN NYSE. RESUMO Este estudo tem como objetivo mensurar o quanto as diferenças de normas contábeis aplicadas nos Estados Unidos e em países latino-americanos impactam o lucro reportado pelas empresas desses últimos países. O estudo abrange todas as empresas desses países com ADRs na NYSE no período de 2001 a 2005, com base nos dados publicados nos formulários 20F da SEC e no banco de dados Economática. As medidas estatísticas de média e mediana obtidas neste estudo indicam que a contabilidade praticada nos países da América Latina em geral resulta em valores de lucro inferiores aos apurados conforme os US GAAP, embora os testes de média efetuados, bem como a distribuição de frequência dos dados, tenham mostrado que não existe um padrão homogêneo representativo, exceto para o Chile, com IC médio significativo ao nível de 10% nos subperíodos 2001-2002 e 2003-2005 e, para o Brasil, apenas no último triênio. Palavras-chave: Contabilidade Internacional, US GAAP, Normas Contábeis de países da América Latina, Índice de Conservadorismo
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