Accounting Pronouncements Committee Research Articles

Level of Disclosure of Environmental Provisions and Contingent Liabilities

Disclosure allows accounting to achieve its main objective, that of providing useful and reliable information to its users. Thus, based on the Theory of Disclosure, this study aims to identify the level of disclosure of provisions and environmental contingent liabilities of companies with high potential for pollution. For this, descriptive research with a qualitative approach was carried out, applying the content analysis technique in the financial statements between the years 2010 and 2019. For data collection, a checklist prepared according to the established criteria was used. by the Accounting Pronouncements Committee No. 25 (CPC 25) for the recognition and disclosure of provisions and contingent liabilities of an environmental nature. The findings reveal a low disclosure of the established items, despite the growing number of affirmative observations in the last three years. As for the level of disclosure, the results showed that the most prominent segment was the extraction and treatment of minerals, with a percentage of 73% in the group of companies listed on the ISE. Regarding the analysis of the groups, the average of the companies listed and not listed on the Corporate Sustainability Index (ISE) was calculated, showing through the Student's T test the existence of a statistically significant difference between the averages, of 27.66 and 15 ,21, respectively, accepting and rejecting the research null hypothesis. However, the need for other analysis methods was identified to confirm whether the companies included in the ISE have a higher level of disclosure.

Accounting Pronouncement Committee

The research aims to identify the characteristics of scientific articles published in accounting journals from 2008 to 2020 with the theme Accounting Pronouncements Committee. This is a bibliometric and social network study that followed the laws of Bradford, Zipf and Lotka, descriptive, with a quali-quantitative approach. The database used was the Sucupira platform, from which 18 journals were selected, classified as Qualis / Capes A1, A2, B1 and B2, with a time frame from 2008 to 2020. Search criteria using the descriptors “Pronouncements Committee Accounting and CPC”in the title, abstract and keywords, limiting itself to studies that specifically addressed one or more accounting pronouncements, resulted in a sample of 103 articles. Data were tabulated using Microsoft Office Excel, using the Ucinet 6.726 software for analysis of social networks and the WordArt tool to create the word cloud. The results indicated that publications on the subject had greater prominence in 2015, with 18 publications, the authors who most published were Vera Maria Rodrigues Ponte, José Augusto Veiga da Costa Marques, Patrícia Vasconcelos Rocha Mapurunga, the HEIs stood out as the most fruitful. USP, then UFRJ, UFC, UERJ and USP-Ribeirão Preto and the journal that published the most on the subject was Revista Pensar Contábil. The studies were motivated by many factors, editions and reviews of the accounting standards committee and the market rules. CPC 29, CPC 04 e CPC 25 were the most studied.

Accounting for bitcoins in light of IFRS and tax aspects

Abstract This essay presents recommendations in regard to accounting for operations that involve bitcoins, in compliance with the International Financial Reporting Standards (IFRS), and analyzes their main tax aspects. There is no specific pronouncement on the part of the International Accounting Standards Board (IASB) or from the Brazilian Accounting Pronouncements Committee (CPC) regarding the accounting treatment to be applied in operations that use these currencies. Bitcoin is of interest to economists as a virtual currency with the potential to disrupt existing payment systems and even monetary systems. This essay offers a contribution for standard-setters and the tax authority (fisco) by providing the basis for possible guidelines to be issued on the accounting treatment of bitcoin operations, as well as by defining the appropriate tax treatment; in addition, it makes a contribution for accounting professionals by suggesting the accounting policy to be adopted in these operations. Here, the analysis of the characteristics of bitcoins is compared with the guidelines and concepts of IFRS, in order to elaborate the recommendation for accounting treatment, and it suggests that the most adequate procedure would be that of foreign currency, which would go against the tax treatment adopted up until now by the Brazilian Internal Revenue Service (Receita Federal) or the Internal Revenue Service (IRS) of the United States of America (USA), which suggest treating virtual currencies as goods and not as currencies. It warrants mentioning that this contradiction may cause tax risks for taxpayers.

Does the use of hedge derivatives improve the credit ratings of Brazilian companies?

ABSTRACT The purpose of this study is to identify the factors that may explain the attribution of credit ratings to firms, focusing especially on the impact of derivatives. The gap explored by this research lies in the novelty of analyzing how rating agencies perceive the effects caused by information related to derivatives use by Brazilian publicly-traded companies. In addition, this study shifts the previous findings from stock analysts to rating agencies, reinforcing the discussion about the complexity of derivatives in the credit risk assessment process. This research topic is currently of interest due to the adoption of International Financial Reporting Standard (IFRS) 9 (Accounting Pronouncements Committee - CPC - 48), which came into effect in January of 2018. Based on these rules, the main novelty presented in this article was its verification of the effect of the derivatives used by companies in order to hedge their credit ratings, thus helping to fill the empirical gap that exists in the literature from the area. The results found challenge the theory that the use of hedge derivatives is viewed positively by investors. However, although no significant statistical impact was found on the ratings of companies that use derivatives, it was observed that the companies that use derivatives and have the highest notional values were those that received the best ratings from Moody’s. With this we broadened the debate about the complexity of the information linked to derivatives use. In the study, 2,090 ratings attributed to non-financial companies with stocks traded on the Brasil, Bolsa, Balcão [B]³ exchange were examined between 2010 and 2016 by using panel data analysis, which lends robustness to the analysis and findings. Contrary to the central hypothesis of this research, the results presented here show that, in Brazil, companies that use derivative financial instruments for hedging do not receive the best credit ratings from rating agencies. One of the main contributions of this study is the evidence that Standard & Poor’s and Moody’s were unable to consistently incorporate information related to derivatives use, thus broadening the discussion about the complexity of these financial instruments.

Construção de uma narrativa hegemônica sobre a adoção das IFRS no Brasil

Resumo A convergência das normas contábeis brasileiras às Normas Internacionais de Contabilidade (International Financial Reporting Standards - IFRS) foi impulsionada pela criação do Comitê de Pronunciamentos Contábeis (CPC), em 2005, e pela Lei n. 11.638/2007. Entretanto, os aspectos políticos desse processo, tais como o papel da academia na legitimação das IFRS, têm sido pouco explorados. Assim, propomos neste artigo uma análise crítica do discurso, tendo como objeto o capítulo de livro “Convergência da contabilidade brasileira às Normas Internacionais de Contabilidade (IFRS): retrospectiva histórica e desafios para o futuro”, de autoria de Salotti, Carvalho e Murcia (2015), almejando identificar as principais estratégias discursivas empregadas para construir uma narrativa hegemônica sobre a adoção das IFRS no Brasil. No referencial teórico, discutimos os conceitos de ideologia e hegemonia, assim como os papéis dos intelectuais e da academia na construção e disseminação de narrativas ideológicas. Empiricamente, por meio da análise crítica do discurso, as propriedades formais do texto são descritas, apontando seus valores experienciais, expressivos e relacionais. Além disso, propomos uma interpretação do processo de produção e uma explicação das condições sociais de produção do texto. O silenciamento de vozes dissonantes, a omissão de agência e a representação da comunidade e das práticas contábeis brasileiras em condição de inferioridade técnica e cultural são identificados como principais estratégias discursivas empregadas no texto para reproduzir e ratificar discursos do campo profissional, valendo-se do capital simbólico possuído pelos autores em virtude da posição que ocupam no campo acadêmico para atribuir universalidade a entendimentos dos organismos normatizadores.

Impact of the Brazilian Accounting Pronouncements Committee’s New Guideline (OCPC 07) on the downsizing of companies’ Notes

ABSTRACT This article aims to assess the impact of the New Guideline of the Brazilian Accounting Pronouncements Committee (Comitê de Pronunciamentos Contábeis - OCPC 07) on improving formal features (size, readability, and specificity) of Brazilian companies’ Notes. OCPC 07 is one of the world’s first guidelines issued in response to the current demand for the downsizing of companies’ Notes, which according to standard setters and market agents have become too extensive, thus characterizing a disclosure overload. This is a unique study on the subject. The results suggest the effectiveness, although limited, of the new standard in promoting a departure from the habits of secrecy and formalism rooted in centuries of legal-accounting civil law tradition, and indicate that there is still room for complementary improvement initiatives in the form of incentives for firms and increased enforcement. Three complementary methodological approaches are used: (1) an analysis of both the evolution of note size after OCPC 07 and the factors explaining that size and its variation; (2) an examination of indicators of readability, conciseness, and specificity of the note on accounting policies; and (3) a size comparison of the Notes of Brazilian and British companies, a benchmark of the common law tradition. An average reduction of 10% in Note size was found two years after the introduction of Guideline (Orientação) 07 by the (OCPC 07). This downsizing was not generalized, but instead identified only among firms in the Novo Mercado and among those audited by two of the Big Four. Even in firms that reduced their notes by at least 20%, no significant improvements in readability levels could be perceived, nor in habits of copy-pasting the auditors’ templates, which could signal a focus on firms’ real practices in the note on accounting policies. Brazilian Notes remain far from the benchmark and are still 40% longer than British ones, despite an equivalent number of pages being expected.

A construção de padrões internacionais por agentes privados e a modificação de legislação nacional: alteração do padrão de contabilidade para empresários no Brasil.

Globalisation induces internalization of normative systems and national a and national judicial behavior and the nationalization of law and international procedures. A case that may demonstrate the movement described above is the incorporation of accounting standards for companies to the Brazilian legal system. Brazil adopted the International Accounting Standards , more commonly known as International Financial Reporting Standards ( IFRS) since 2008 , with the enactment of Law No. 11,638 , of December 28, 2007. The main change introduced by convergence with international standards refers to changes in Brazilian accounting practices, which it becomes much more based on interpretation of the pronouncements of the Accounting Pronouncements Committee (CPC) than the application of national rules , as in the recent past.

KNOWLEDGE’S ACCOUNTING TEACHERS ABOUT THE INTERNATIONAL STANDARDS

O problema desta pesquisa é: qual o nível de conhecimento dos docentes de cursos de graduação em Ciências Contábeis da região metropolitana de Goiânia acerca das normas internacionais de contabilidade? O objetivo geral da pesquisa é avaliar o nível de conhecimento desses docentes de contabilidade acerca das normas internacionais de contabilidade. Em relação à metodologia, este estudo se classifica como descritivo em relação aos objetivos, utilizou-se como estratégia de pesquisa o levantamento e como técnica de coleta de dados o questionário. Para a análise dos resultados, dividiu-se os pronunciamentos (CPCs) do Comitê de Pronunciamentos Contábeis em três partes: Parte 1, Parte 2 e Parte 3. Os resultados mostraram que a média de conhecimento dos professores da Grande Goiânia para os CPCs da Parte 1 é de 6,54, da Parte 2 é de 5,00, e da Parte 3 é de 4,79. A média de conhecimento relativa a todos os CPCs usados na pesquisa é 5,46. Concluiu-se que o nível conhecimento é baixo e que os professores não estão atualizados em relação às IFRS, considerando que a convergência total no Brasil ocorreu em 2010.

A eficácia social do pronunciamento técnico para pequenas e médias empresas sob a ótica da Teoria dos Jogos

Accounting has been undergoing significant changes, and among these changes is the creation of a standard for the accounting of small and medium enterprises, in line with international accounting standards for companies of this size. This rule arose from the development of a pronouncement by the Accounting Pronouncements Committee – CPC, which subsequently was approved by the Federal Accounting Council - CFC through specific resolutions. The present study aimed to analyze trends of accounting professionals and business managers concerning the adoption of Technical Pronouncement emitted by Accounting Pronouncements Committee for Small and Medium Enterprises. Considering the level of complexity of the operations performed by companies of this size, the lack of oversight by specific entities and the question of enforcement of these pronouncements, it was used the game theory to determine possible strategies adopted by the accountants and business managers regarding to the effective adoption of pronouncement for SMEs. The study was characterized as a descriptive research, using bibliographical and field research. With the use of surveys sought to identify the perceptions of accounting professionals regarding the adoption of the pronouncement. It was found that this statement constitutes a valid legal standard, endowed with legal effectiveness and technical efficiency, but lacking social effectiveness, due to the low level of efforts for its adoption, both by accounting professionals and by firms.

Business and Compliance Audit with Mandatory Disclosure level During the Convergence of International Accounting Standards in Brazil

The aim of this study was to establish the variables that influence the level of minimal disclosure of open Brazilian companies during the initial period of harmonization with international accounting standards in Brazil. Under the methodological aspect, the study is qualitative-quantitative, of a descriptive type. The target population included non-financial Brazilian companies that are listed on Bovespa's IBRX index. The final sample consisted of 78 companies. Data were obtained from the financial statements and notes issued by the companies in 2008 and 2009 through the Economática database and the CVM website. We used a minimal disclosure index that was made up of 72 items related to pronouncements and technical guidelines issued by the Accounting Pronouncements Committee (APC) to define the level of minimal disclosure of each sample company. Qualitative data was processed by means of a content and quantitative analysis using the Exploratory Factor Analysis (EFA) technique and the Generalized Linear Models (GLM) technique. The main results show that the size of audit firms, internationalization, the level of corporate governance and the debt levels influence significantly the level of minimal disclosure of the companies. That finding suggests that public companies of the sample audited by the big four feature better quality in the disclosure of accounting information that those companies audited by other independent audit firms.Key words: Accounting harmonization. External audit. Accounting information. Disclosure.

ANÁLISE DO GRAU DE CUMPRIMENTO DAS PRÁTICA S DE DIVULGA ÇÃO DEFINIDAS PELO PRONUNCIAMENTO TÉCNICO CPC 13 NO ÂMBITO DAS COMPANHIAS ABERTAS

Based on Laws 11,638/07 and 11,491/09, the Accounting Pronouncements Committee (CAP) issued Technical Pronouncement CPC 13 to ensure that the first financial statements prepared under the new laws represent an appropriate starting point and defined a minimum set of disclosure practices to be adopted by companies when publishing statements for the year ended in December 2008. The current study investigates the degree of compliance with the guidelines defined in CPC 13 by the companies listed on the BM&FBovespa and examines whether there was better compliance by companies listed for trading in that exchange’s segments requiring enhanced corporate governance. This descriptive study investigates the explanatory notes to the standard financial statements published for the year ended in 2008 by 334 companies (sample). Descriptive statistical techniques using general analysis and nonparametric tests of differences between means were performed, using the Mann-Whitney model for measuring the research hypotheses. A lower degree of compliance with th e CPC 13 disclosure guidelines was observed regarding public companies, while companies listed in the enhanced governance segments of the BM&FBovespa showed greater compliance with the standards compared to those listed in the traditional segment.

Impactos da implantação das normas internacionais de contabilidade na controladoria: um estudo à luz da teoria da estruturação em uma empresa têxtil

Studies on controllership activities interrelated with other sciences, such as psychology and sociology, favor more holistic knowledge about this organizational area. This study aims to verify the impacts of the implementation of the International Accounting Standards in controllership in the light of the Structuration Theory. The assumption is that implementing international standards contributes to the production and reproduction of the social order of the organizational area of controllership. The Structuration Theory of Giddens (1979; 1996; 2003) supports this exploratory study, which relied on a qualitative approach and was conducted through the case study of a textile industry, analyzing the impacts of the implementation of the International Accounting Standards in controllership from 2008 to 2010. This period covers the implementation phase of CPCs in the company, issued by the Accounting Pronouncements Committee (CPC). Data collection was conducted through observation, desk research, interviews and a focus group. The analysis of the individual interviews and the focus group were conducted with the help of Atlas.ti software. The results showed that the implementation process of the International Accounting Standards impacted the organizational area of controllership, through new activities, discussions and changes in processes and controls, besides the interaction of the agents, through communication and capabilities, allowing the production and reproduction of this area. The conclusion was that the structure duality proposed by Giddens (1979; 1996; 2003) occurred in the company within the analyzed period, given that the structure had an impact on interaction and vice-versa.