Brazilian Accounting Research Articles

Manager's Discretionary Power and Comparability of Financial Reports: An Analysis of the Regulatory Transition Process in Brazilian Accounting

This research aimed to directly evaluate the impact of the accounting regulatory flexibility movement on the comparability of financial reports. The country chosen for the analysis was Brazil, because it was one of the few countries in the world where a process of regulatory change from a completely rule-based standard with a strong link to tax accounting (Lopes, 2011) to a principle-based standard with greater need for decision by managers who prepare the financial reports took place. To measure comparability, the accounting function similarity model developed by DeFranco, Kothari and Verdi (2011) was used. The companies analyzed were all listed ones with full data for the period concerned having, at least, a pair company within the same economic activity sector. To obtain the research results, we adopted a panel data model where the years 2005 to 2012 were compared to the year 2004. The results obtained prove that, on average, there was no significant decrease in the comparability level within country during the regulatory transition period in Brazil. On the contrary, there was an increase in genuine comparability in the year 2012 when compared to 2004. In the model adjusted by stepwise, the years 2011 and 2012 had a significantly higher average comparability when compared to 2004. The results found corroborate other researches addressing the quality of accounting information (Collins, Pasewark, & Riley, 2012; Psaros & Trotman, 2004; Agoglia, Doupnik, & Tsakumis, 2011) and prove the superiority of the principle-based standard also over the comparability of financial reports. The main conclusion of this research is that increasing manager's discretionary power through flexibility of accounting standards does not decrease the comparability of financial reports.

As Normas Internacionais de Contabilidade - IFRS: Adoção no Brasil

This study aimed to verify the recent changes in the quality of accounting information, as of IFRS and the impact that these rules produced in Brazilian accounting. For this, in a descriptive approach, this text included, in addition to specific authors on the subject, a wide literature review, that showed that the impact of IFRS may reach every segment of the accounting industry, as these sectors have business and accounting practices that have some differences, some have relevance, while others differences are perceive in the details or appear according to the industry / business sector and the financial choices of the company. Thus, changes may have significant accountability impact, and hence serve as basis for a multitude of contracts between economic agents.

ANÁLISE DA ADEQUAÇÃO DOS MUNICÍPIOS ÀS NORMAS BRASILEIRAS DE CONTABILIDADE APLICADAS AO SETOR PÚBLICO

As Normas Brasileiras de Contabilidade Aplicadas ao Setor Público – NBC TSP constituem o novo modelo de gestão de recursos públicos, reforçando dispositivos contidos na Lei n. 4.320/1.964 e na Lei Complementar n. 101/2.000. Para o setor público, principalmente para os pequenos municípios, a adoção do novo padrão constitui-se num grande desafio. Nesse contexto, o presente estudo teve por objetivo verificar e analisar o processo de adequação dos municípios da Região Centro-Serra do Estado do Rio Grande do Sul - RS às mudanças da contabilidade aplicada ao setor público. Para o levantamento dos dados empíricos junto às prefeituras da Região Centro Serra, utilizou-se a pesquisa de levantamento, visando identificar o nível de conhecimento dos profissionais, a aplicação das novas normas e as condições da estrutura organizacional. Os resultados apontaram que os profissionais da área contábil ainda possuem pouco conhecimento em relação à complexidade das mudanças e que a aplicação dos novos procedimentos ainda não está sendo realizada pelos municípios. A estrutura organizacional na grande parte dos municípios analisados, no que se refere aos sistemas informatizados e fluxo de informações, não está preparada para atender às exigências das novas normas, ficando evidenciada a carência de profissionais capacitados.

O impacto das normas brasileiras de contabilidade aplicadas ao setor público: cenário atual e perspectivas na Administração Pública Federal

presente trabalho tem por objetivo oferecer um breve diagnóstico do impacto das Normas Brasileiras de Contabilidade Aplicadas ao Setor Público (NBCASP), no cenário atual e as perspectivas que as mesmas poderão trazer no norteamento das atividades contábeis que são executadas na Administração Pública Federal. Outro aspecto a ser abordado está intimamente relacionado ao Sistema Gerencial de Custos do Exército Brasileiro (SISCUSTOS), fruto da NBC T 16.5 – Registro Contábil, fato que coloca a Força Terrestre na vanguarda dos órgãos públicos na utilização de tal sistema para fins de controle gerencial e a sua integração com o Sistema Integrado de Administração Financeira do Governo Federal (SIAFI) e outros sistemas da tecnologia da informação. Comenta-se também a estratégia de convergência das NBCASP às Normas e as Boas Práticas Internacionais (IPSAS). Finalmente, A pesquisa procura demonstrar também o impacto que as Normas Brasileiras de Contabilidade Aplicadas ao Setor Público vêm despertando atualmente junto a alguns órgãos públicos e, também a expectativa junto a classe contábil devido aos “frutos” a serem colhidos com a implantação destas normas juntos aos órgãos públicos.

Earnings Management and Valuation of Biological Assets

The use of fair value to measure the worth of biological assets allows discretionary choices when using discounted cash flow in the absence of an active market, influencing the quality of accounting information. The objective of this study was to investigate evidence of earnings management among Brazilian companies that have adopted fair value based on the discounted cash flow method. The firms were investigated with regard to: a) disclosure of the discount rate, b) BMF and c) adherence to disclosure requirements in the Brazilian accounting standard CPC 29 (IAS 41). We analyzed 31 firms with significant biological assets from 2010 to 2012. The earnings management measurements were calculated according to the modified Jones, the Teoh, Welch and Wong (1998), and the KS models. The Mann-Whitney test of the means was applied and revealed evidence of greater earnings management for companies that use discounted cash flow, and the ones that least meet CPC 29 disclosure requirements, considering the KS model estimates. Regarding the other proposals, testing did not offer enough evidence of differences in discretionary accruals. In this sense, only hypotheses 1 and 4 are partially accepted, demanding more research in this area. We also present evidence in favor of adopting Exposure Draft ED/2013/08 Agriculture: Bearer Plants, Proposed amendments to IAS 16 and IAS 41, which proposes to measure biological assets at cost, because firms already following these rules showed lower earnings management in this study.

ATIVOS BIOLÓGICOS NA DVA: O QUE VEM SENDO DIVULGADO NO BRASIL

<p>A Demonstração do Valor Adicionado (DVA) é uma demonstração contábil que evidencia a riqueza criada pela entidade e como essa riqueza é distribuída. Sua divulgação tornou-se obrigatória às companhias abertas no Brasil a partir de 2008. O objetivo desse trabalho é estudar como vem sendo feita a divulgação de mensurações a valor justo de ativos biológicos na DVA. Esses ativos foram escolhidos pois, desde 2010, por ocasião da adoção das Normas Internacionais de Relatório Financeiro (IFRS) no Brasil, os ativos biológicos passaram a ser avaliados a valor justo. A partir da base de dados da Fipecafi, foram selecionadas todas as empresas que em 2012 destacaram saldo de ativos biológicos em seu Balanço Patrimonial e que, ao mesmo tempo, divulgaram a DVA. A partir desse critério, foram selecionadas 54 empresas. Destas, apenas 39 adotaram o valor justo para a mensuração dos ativos biológicos. Os resultados revelam que a ampla maioria das empresas da amostra que adotou o valor justo na avaliação desses ativos não evidenciou explicitamente tais efeitos na DVA (32 casos) e as poucas empresas que o fizeram utilizaram classificações distintas. Esses resultados demonstram aos preparadores e auditores a necessidade de uma melhor apresentação dessas informações na DVA e ressaltam aos usuários a necessidade de maiores cuidados na análise e interpretação das informações divulgadas nessa demonstração. As evidências encontradas podem motivar o Comitê de Pronunciamentos Contábeis a avaliar a necessidade de revisão do CPC 09 com o objetivo de clarificar o tratamento dos ganhos e perdas a valor justo na DVA.<strong></strong></p>

Os Impactos da Fase Final de Transição para o IFRS no Brasil

Objective – This article aims to measure the impacts of the final phase of mandatory convergence to IFRS on net income, in equity and total assets of Brazilian publics companies. Design/methodology/approach – It is applied to the inverse of Gray (1980)’s Conservatism Index – which allows you to compare the results between different accounting systems – to determine the impacts of the transition between the two phases of the convergence process in Brazil, covered by the law 11,638 and their CPCs. It was compared the 2009 financial results disclosed in BR GAAP and IFRS. Findings – The results show that the final stage of mandatory convergence to IFRS led to significant increases in both net income and the shareholders’ equity of the companies analysed: a mean increase of about 21% in earnings and about 11% in equity, as well as generating an increase, though somewhat less significant, about 7%, the total assets. Practical implications – This research helped to improve understanding of the impacts of convergence of Brazilian accounting to the international standard; as well as to assist business managers and users of financial information, especially those from the capital markets, regulators and academia, about the ultimate effects on the results reported in 2011, after the implementation of the final phase of convergence. Originality/value – The fiscal year of 2009 was a special year for understanding the impact of accounting system in the financial results disclosed in Brazil. The Brazilian publics companies reported their results in BR GAAP and IFRS and this research analysed and compare both reports and improve understanding of the impacts of convergence of Brazilian accounting to the international standard.

English

The aim of the article is to identify canonical correlations among performance indicators calculated from a base of accounting statements prepared in accordance with United States Generally Accepted Accounting Principles (US GAAP), Brazilian accounting standards (BR GAAP) and International Financial Reporting Standards (IFRS). Descriptive research with a quantitative approach was carried out. A research sample of 50 companies was selected, including 17 Brazilian companies listed on the Bovespa’s Board of Corporate Governance and 33 English companies listed on the London Stock Exchange, all of which trade American Depositary Receipts on the New York Stock Exchange. The results demonstrate divergence between companies and indicators in relation to differences calculated in performance indicators as well as statistically significant canonical correlations in both groups researched. The performance indicators of Brazilian and English companies were not affected in any significant way, despite divergences between BR GAAP and US GAAP and between IFRS and US GAAP. However, stands out as the main limitation that no company listed on Bovespa was found in the lists of European stock exchanges, which was necessary in order to verify the differences in these companies’ indicators in the conversion of their accounting statements from BR GAAP to US GAAP and IFRS. This required the adoption of an alternative (i.e., canonical correlations). The main implication of this study is that the impact of IFRS adoption by Brazilian companies may be less than the expected, in terms of improvement of accounting quality and cost of adoption. The article advances research on a comparative study of the financial disclosures made according to Brazilian, American and international accounting standards, supported by an analysis of performance indicators calculated from accounting statements prepared from and based on these standards. Key words: Performance indicators, accounting statements, BR GAAP, US GAAP, IFRS, canonical correlations.

Impact of convergence to IFRS on the economic and financial performance of construction and transportation enterprises: a study conducted through data envelopment analysis

The objective of this study was to verify the impact of convergence Brazilian accounting standards international accounting systems performance assessment of the economic and financial sector companies listed on the construction and transportation BM&FBovespa. Was used the model of data envelopment analysis (DEA) to evaluate financial performance. The data refer to the re-release of 55 companies in the construction and transportation in 2009, using a set of 23 indicators. The DEA model used in the evaluation of the economic and financial performance was satisfactory and earned important results for the comparison between before and after IFRS. The results were significant in the comparison between the results in IFRS and BR GAAP, which indicates and effectives the relationship between the two performances of companies. Thus we conclude that the performance was not affected with the change of accounting standards in Brazil.

The scientific production about earnings management in brazilian accounting journals

The scientific production about earnings management in brazilian accounting journals

Revista de Contabilidade e Controladoria (RC&C): análise dos cinco primeiros anos de publicação (2009-2013)

In view of the journals’ important role in the dissemination of scientific knowledge and the outstanding role of stricto sensu graduate programs in the maintenance of these communication vehicles in Brazil, including in Accounting, the objective in this research was to analyze the profile of the publications by the Revista de Contabilidade e Controladoria, a journal published by the Graduate Accounting Program at the Universidade Federal do Parana, during the five years of its existence. To contribute to the state of the art of accounting research in Brazil, bibliometric analysis techniques were used in the research to outline the publication profile of the journal studied between 2009 and 2013, based on research published in journals with similar characteristics, emphasizing characteristics related to the composition, the authorships’ institutional and geographical distribution, predominant themes and research lines, besides the main approaches used with regard to the research problem and the study objective. The obtained results underline different aspects observed in similar studies of journals maintained by graduate accounting programs, especially regarding the composition of authorships, institutions and more productive authors, thus adding robustness to the scenario that has been demonstrated about these vehicles’ contribution to the evolution of accounting research in Brazil. In addition, the research presents peculiarities and specific information that is capable of revealing the profile of the most recent Brazilian accounting journal belonging to a stricto sensu graduate program.

The Double-entry Bookkeeping Committee of 1914 and the Brazilian Public Accounting System

The history of Brazilian accounting has not been explored at length. Through a historical survey, this article presents the history of the Double-entry Bookkeeping Committee of 1914. After the Proclamation of the Republic was announced in 1889, the government started to expand its administrative bodies, necessitating the introduction of a bureaucracy able to perform new functions. In the same period, Brazil experienced a strong economic development with the development of its coffee industry. In 1905, under the leadership of Carlos de Carvalho, São Paulo State Treasury bookkeeping tasks were introduced under a double-entry bookkeeping system and through accrual and financial accounting. Double-entry bookkeeping practices in the federal public accounting system, although enshrined in law since 1808, were only fully realized after the creation of the Double-entry Bookkeeping Committee in 1914. In that same year, due to the negotiation of a second funding loan, English creditor bank auditors requested a balance of the National Treasury from the Minister of Finance Rivadávia Corrêa. Because the balance had not been prepared in eight years, the Double-entry Bookkeeping Committee was established in June of 1914, and this body completed a technical audit of Revenues and Expenditures. The committee also conducted the state administration's first Asset and Liability audit since the colonial era. The Double-entry Bookkeeping Committee of 1914 spearheaded changes to the Brazilian public accounting system, including the creation of the Public Accounting Code in 1922 and the approval of Central Accounting Office of the Republic regulation in 1924, strengthening and ascribing perpetuity to practices adopted after 1914.

Does the Occasion Justify the Denunciation?: a Multilevel Approach for Brazilian Accountants

Frauds represent large losses to the global economy, and one of the main means for their containment is by means of denunciations within organizations: whistle blowing. This research aims to analyze whistle blowing within the Brazilian context, considering the influence of costs and intrinsic benefits as well as aspects of the individual's interaction with his/her organization, profession and society at large. By means of a questionnaire answered by 124 accountants, a multilevel model was applied to analyze these aspects. The results demonstrate the importance of situational aspects as a positive influence in favor of denunciations. These results are useful for organizations and regulatory institutions in developing institutional mechanisms to encourage denunciation. Moreover, the results are also useful for teachers of professional ethics and members of the Federal and Regional Accounting Councils, which are dedicated to the assessment of alleged deviations from the professional code of ethics.

DEMONSTRAÇÃO DE RESULTADO ECONÔMICO: PERCEPÇÃO DO COMANDO DA AERONÁUTICA DO BRASIL

No ano de 2010, uma alteração no quadro normativo brasileiro introduziu a Demonstração do Resultado Econômico (DRE) para o setor público, que busca comparar custos internos de produção com valores de mercado, segundo o conceito de custo de oportunidade. Este estudo procura analisar as possíveis respostas estratégicas dos gestores , buscando perceber se a cultura contábil existente no País permite a aceitação do novo instrumento. Por meio das percepções dos agentes públicos do Comando da Aeronáutica (Comaer), no Brasil, conclui-se que a resposta estratégica dos entrevistados tende para a atitude de aceitação da nova rotina, demonstrando traços de menor conservadorismo e maior interesse pela evidenciação de resultados.

Presença francesa no Brasil no século XIX: análise dos arquivos contábeis da Casa Boris no período de 1872 a 1887

Founded in Brazilian imperial period, CasaBoris had an important commercial role in theNortheast region of Brazil. Using a competitivebusiness structure, it linked the Ceará Province(branch) with France (headquarters), by importingmanufactured goods and exporting raw materials.In this paper, we studied the Journal and Ledgerof Casa Boris, particularly from 1872 to 1887.The study aimed to analyze the contents of theaccounting records contained in these books so asto report facts and points of historical interest tothe Brazilian Accounting. The main contributionof the research, in general, is associated with anattempt to understand the influence of political,economic, social and institutional settings onaccounting practices and vice-versa. Our findingsled to the conclusion that the bookkeeping ofCasa Boris was transparent to reveal the qualityof accounting control of commercial operationsundertaken by the firm and also shows thecoexistence of a incipient provincial market thatconcomitantly linked Brazil to Europe in thesecond period of Brazilian Monarchical Empire.

Evidenciação do ativo imobilizado nas empresas do setor de bens industriais da BM&FBovespa

The study examined the process of disclosure of Industrials companies listed on the BM&FBovespa, after the convergence of Brazilian accounting to IFRS, in accordance with CPC 27 - Fixed Assets . Was carried a descriptive study, conducted through content analysis and quantitative approach using the calculation of entropy proposed by Zeleny (1982). The sample consists of 34 companies in the Industrial Goods sector listed on the BM&FBovespa. The results revealed that the disclosure of items of fixed assets is not performed homogeneously by companies. Some requirements required by CPC 27 were reported incompletely or are absent. A detailed analysis of the items investigated stressed that disclosure to class of fixed assets, was the best performed, followed by depreciation policies adopted by companies, it was observed that most companies show so complete this information. The information highlighted regarding the reconciliation of the carrying amount, had higher entropy, hence there is greater heterogeneity in this items reported. The disclosure of other information about the property, deemed necessary by CPC27, were less prominent by the companies, not apply in some cases or for being absent in the notes. In general, we concluded that the analyzed companies have been responding only partially to the disclosure requirements of CPC 27. However, the basic and more important information to the external user, concerning the class of assets and depreciation rates are being shown.

Brazilian Governmental Accounting Reforms: IPSAS and Accrual Accounting Adoption

Brazilian governmental accounting is affected by two reform processes: the implementation of accrual accounting and convergence with the International Public Sector Accounting Standards (IPSAS). This paper analyses the origins, the process and preliminary outcomes of such reforms. In order to characterize the Brazilian accounting system, we followed the questionnaire from Chan, Jones and Luder (1996) as a protocol, analysed financial reports and reviewed official literature that regulates Brazilian public sector accounting. The paper finds that the accounting reform has two origins: the need to prepare cost accounting information (year 2000) and the requirement to converge towards IPSAS (year 2009). Reform affects both central government and subnational governments, and is being coordinated by the Treasury’s central government. In the process, the Treasury has required the adoption of some sophisticated accounting policies that were beyond the capacity of IT platform installed on either central and local governments, and has had to postpone aspects of their implementation. Treasury has used this as a convenient opportunity to select which IPSAS requirements to implement, taking into account political agendas (e.g. avoiding the recognition of deficit). For these and other reasons, some states’ courts of accounts do not require compliance with some of the standards issued by the Treasury, which impairs the comparability of accounting information prepared by different Brazilian public sector entities.

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.

Gerenciamento de resultados: análise das publicações em periódicos brasileiros de contabilidade

The goal of this study is to identify characteristics, from the perspective of social networks, of the scientific literature on earning management in Brazilian accounting journals. Specifically, were identified: a) authors and their social networks of scientific production; b) researched topics, models for accruals detection, authors’ networks and the period studied; c) methodological procedures used. A bibliometric survey, with a quantitative approach was performed through the analysis of 17 Brazilian accounting journals, since their first edition until the year 2010. Out of them, 10 published articles having the theme earning management in the title, abstract or keywords. The 32 identified articles were submitted to content analysis and then the data were presented from the perspective of social networks. The survey results show that: the authors and their social networks of production originates mostly from Universidade de São Paulo (USP); the most researched theme was the methods or means to conduct earnings management, and accruals measurement models, with emphasis on Kang and Sivaramakrishnan Model; the descriptive research, based on document and quantitative approach were the most commonly used forms in the articles researched. It is noteworthy that structural gaps are the topics, such as compensation plans, political costs and earnings management in different contractual environments. The research results can contribute to academia to highlight some features of the earnings management theme and its researchers, in the field of publications in Brazilian accounting journals.

RESSONÂNCIA DE ARTIGOS E FATOR DE IMPACTO DE PERIÓDICOS BRASILEIROS DE CONTABILIDADE

The objective in this study was to identify what characteristics of the papers published in Brazilian accounting journals are associated with their resonance in scientific production. A theoretical-empirical approach and a quantitative design were adopted. The strategy was a survey and data collection used the content analysis of the individual search results of each article in Google Scholar. The sample consisted of 577 articles, published between 2006 and 2011 in the four journals ranked highest in Qualis/CAPES 2012: Contabilidade Vista & Revista, Revista Contabilidade & Financas, Revista de Contabilidade e Organizacoes and Revista Universo Contabil. In total, 1,655 records were ranked in an electronic worksheet, with 1,372 citations and 283 articles that were not cited. Chi-squared and correspondence analyses were used, besides the calculation of the journals’ impact factor. The findings demonstrated a mean number of 2.38 citations per article and 49.05% of the articles that were not cited. Associations were found between journal, year of publication and language of the articles and citations received per citation vehicle, as well as between the language of the article and the country of the citation. Articles published in RC&F received 66.33% of the citations, as the most important journal to explain the data variability. The highest impact factor in 2011 was found for RC&F (0.861), followed by CVISTA (0.667), RCO (0.458) and UNIVERSO (0.458), with a general average of 0.578. In conclusion, the resonance of the scientific production under analysis can be considered low, the data variability is related to the characteristics of the articles/journals and the distance among the journals’ impact factors has decreased.