Sirlei Lemes

Comparabilidade entre o resultado em BR GAAP e U.S. GAAP: evidências das companhias brasileiras listadas nas bolsas norte-americanas

This research assesses the materiality of the reconciliation differences in profits reported by Brazilian companies. Given the non-existence of IFRS compatible accounting statements for Brazilian companies, the sample was composed of enterprises that publish the result according to Br GAAP and U.S. GAAP on the 20-F Form filed at the Securities and Exchange Commission (SEC). By means of an exploratory - in function of its objectives - and documentary research - due to the data collection method - Grays Index of Comparability (Gray, 1980) was applied to the differences evidenced for 30 Brazilian companies between 2000 and 2005. The results indicate a representative number of enterprises with materially incomparable results, being three for a materiality margin of 5%, six for 10%, while only 21 of the 30 companies present comparable profits for 15%. Analyzing the reconciliations of 10 companies in the year 2005, the adjustment referring to the business combination was what affected the largest number of enterprises; as for the revaluation of assets, characteristically appointed as a practice that requires frequent adjustments to U.S. GAAP, reconciliation was not observed for the majority of companies. Additional studies are suggested to identify specific differences for a bigger number of enterprises and years.This research assesses the materiality of the reconciliation differences in profits reported by Brazilian companies. Given the non-existence of IFRS compatible accounting statements for Brazilian companies, the sample was composed of enterprises that publish the result according to Br GAAP and U.S. GAAP on the 20-F Form filed at the Securities and Exchange Commission (SEC). By means of an exploratory - in function of its objectives - and documentary research - due to the data collection method - Grays Index of Comparability (Gray, 1980) was applied to the differences evidenced for 30 Brazilian companies between 2000 and 2005. The results indicate a representative number of enterprises with materially incomparable results, being three for a materiality margin of 5%, six for 10%, while only 21 of the 30 companies present comparable profits for 15%. Analyzing the reconciliations of 10 companies in the year 2005, the adjustment referring to the business combination was what affected the largest number of enterprises; as for the revaluation of assets, characteristically appointed as a practice that requires frequent adjustments to U.S. GAAP, reconciliation was not observed for the majority of companies. Additional studies are suggested to identify specific differences for a bigger number of enterprises and years.

A Comparabilidade das Escolhas Contábeis na Avaliação Posterior de Propriedades para Investimento: Uma Análise das Companhias Abertas Brasileiras e Portuguesas

One of the main purposes for adopting the International Financial Reporting Standards (IFRS) is the quest for comparability between financial statements within the same country, over time, and between different countries. IFRS have the feature of allowing accounting choices in most of their standards. However, the existence of such flexibility in the process for recognizing, measuring, and disclosing assets and liabilities may impact on comparability. IFRS have been criticized both due to their accounting choices and the adoption of the fair value paradigm. This article examines these two issues, investigating the choice of the cost model versus the choice of the fair value model for investment properties (IPs), an option guaranteed under the terms of the International Accounting Standard (IAS) 40. This research aimed to identify the comparability degree and the factors that determine the accounting choices made by managers of IPs, in Brazilian and Portuguese listed companies, within the periods from 2010 to 2012. Comparability, within and between countries, was identified by the T-index and the search for the determining factors of accounting choices made by managers was performed by means of a logistic regression analysis. As a result, it was found that, despite the accounting choices allowed by IAS 40, there was a mean comparability between the accounting practices of firms in these countries, but showing a decrease in the index over the years. The explanatory factors identified were auditing by one of the big four (PricewaterhouseCoopers, Deloitte Touche Tohmatsu, KPMG, or Ernst & Young), companies’ indebtedness, relative importance of IPs’ balance, net profit, and less experience of Brazil in using the fair value method to appraise IPs.

IFRS, sincronicidade e crise financeira: a dinâmica da informação contábil para o mercado de capitais brasileiro

This study aims is to investigate the synchronicity levels of shares traded on the spot market of the São Paulo Stock, Commodities, and Futures Exchange (BM&FBOVESPA) in relation to the accounting convergence process towards International Financial Reporting Standards (IFRS) in Brazil. The term synchronicity refers to the amount that company-specific information and market information are reflected in stock prices. The more share prices reflect company-specific information rather than market information, the greater the informational content of these prices will be in terms of representing the economic value of a particular company. For this investigation, information on companies and shares from 2005 to 2015 was collected, excluding the financial sector. The data were analyzed using cross-sectional and panel regressions. The results indicate a reduction in the synchronicity levels of stocks in the period of full adoption of IFRS in Brazil from 2010 onwards. From 2008 to 2009, which includes the partial adoption of IFRS in Brazil, statistically significant results were not found for the synchronicity levels of shares. However, for times of financial crisis, evidence was found of a reduction in the relevance of accounting information even with the adoption of international accounting standards. The results obtained for the Brazilian context do not support the idea that the adoption of IFRS necessarily causes an increase in the informational content of financial statements and that relevant information is consequently reflected in stock prices.

Incidência do Bullying nos Cursos de Administração e Ciências Contábeis

Abstract The objective of this research is to analyze the occurrence of bullying in the courses of Accounting and Administration of two public universities in Minas Gerais. The research procedure was a survey and the data collection instrument was answered by 773 students enrolled in these courses in 2014. The results of this research suggest a higher incidence of bullying among male students; greater occurrence of this practice in the classroom; the bullying is mistaken for a joke; the most part of the perpetrators believe that bullying is funny and the most part of the witnesses pretend not to see aggression because they are afraid of becoming their target. It is inferred that the reflection, prevention and combat of bullying must also happen in higher education, especially with the help of professionals in the areas of Education and Psychology. Keywords: bullying; higher education; aggressor; research. Incidencia del Bullying en los Cursos de Administracion y Ciencias Contables Resumen

Comparabilidade das Escolhas Contábeis em Propriedades para Investimentos de Empresas Listadas na BM&FBOVESPA e NYSE

This research aimed to identify the consequence of the accounting choices made by public companies managers listed on the NYSE and the BM&FBOVESPA, in relation to the subsequent measurement of investment properties, through identifying the comparability degree of financial reports from the year 2013. The degree of comparability was calculated using the T index Taplin. In this paper, it was observed that, in a more conservative way, to both stock exchanges, there was increased use of the cost method for the sample companies. Even with the existence of accounting choices, it is considered that there is comparability between accounting practices in the recognition of investment property from the companies listed on the BM&FBOVESPA and NYSE. However, the degree of comparability was presented low for the international comparability and in the medium, near the lower limit for comparability per stock exchange. A curious fact is the presentation of a greater degree of comparability for the companies listed on the BM&FBOVESPA in relation to listed on the NYSE, which is a more developed capital market. In the analysis of the comparability by sector, it was observed a medium degree close to the upper limit. It has also been inferred the low comparability degrees identified may be related to the different choices made by the companies regarding the measurement methods.

ESCOLHA DO USO DO VALOR JUSTO PARA PROPRIEDADES PARA INVESTIMENTOS: UMA INFLUÊNCIA DAS CARACTERÍTICAS DE EMPRESAS LISTADAS NA BM&FBOVESPA E NA NYSE

A pesquisa objetivou identificar as possiveis explicacoes para as escolhas contabeis realizadas por gestores de companhias abertas listadas na NYSE e na BM&FBOVESPA, com relacao a mensuracao subsequente de Propriedades para Investimentos referente ao ano de 2013. As hipoteses levantadas atinentes aos incentivos das decisoes dos gestores foram embasadas na Teoria da Agencia e na abordagem metodologica empirico positivista, pressupondo que as escolhas contabeis podem ser explicadas por meio da relacao entre as caracteristicas das empresas e os interesses dos gestores. O presente estudo identificou que, de uma forma mais conservadora, para ambas as bolsas, ocorreu maior utilizacao do metodo do custo pelas empresas da amostra. Na comparacao entre as empresas listadas na BM&FBOVESPA e na NYSE, as variaveis Big Four, tamanho da empresa, relevância do saldo de PPI e o fato de a empresa pertencer ao setor de telecomunicacoes, apresentaram-se como variaveis explicativas para a decisao sobre o metodo contabil a ser empregado. Embora nao tenha sido encontrada influencia de planos de incentivos nas escolhas contabeis realizadas pelas empresas amostrais, verificou-se que, havendo discricionariedade no tratamento contabil, existem caracteristicas que podem definir a escolha pelo uso do valor justo.

Effects of the regulation of the financial and capital market on corporative governance: an empirical study of the revision of Law 6.404/76

Este trabalho tem como objetivo principal o estudo dos efeitos do novo marco regulatorio sobre a governanca corporativa. Assim sendo, o estudo consubstancia-se na apresentacao do principal regulamento do mercado financeiro e de capitais, utilizado como instrumento de politica microeconomica no Brasil, que visa criar o aparato necessario para a minimizacao de conflitos de interesses peculiares a estes mercados, proporcionando maior transparencia e confiabilidade aos mesmos, o que induz o investimento e reduz o custo de financiamento das empresas. Esta politica microeconomica sera avaliada mediante a analise da reforma da Lei 6.404/76, efetivada pela sancao da Lei 10.303/01, tendo como foco as questoes relativas a protecao aos acionistas minoritarios. Como instrumento de coleta de dados, utilizou-se um questionario de pesquisa de campo, cuja avaliacao final e fundamentada pela aplicacao do coeficiente de correlacao de Spearman (rs), que busca estudar se ha uma correlacao de concordância dos respondentes entre algumas questoes aplicadas e os blocos de questoes. De forma geral, a pesquisa comprova alguns padroes de concordância em relacao as questoes levantadas, embora nao se possa precisar ate que ponto os respondentes se manifestam apenas de forma pragmatica ou segundo seus proprios interesses. Nao obstante esta objecao, os resultados mostram que nao ocorreram grandes mudancas no comportamento das empresas apos este novo marco regulatorio, indicando apenas que alteracoes ventiladas durante a discussao e elaboracao do projeto de lei que originou a Lei 10.303/01 teriam grandes repercussoes sobre o mercado. Alem disso, a protecao ao acionista minoritario nao avancou o suficiente para alterar as relacoes de poder entre estes e os controladores das empresas, ressalva feita em relacao ao novo paragrafo 4o do artigo 141 da Lei 10.303/01, que foi considerado uma medida de avanco. Palavras-chave: governanca corporativa, marco regulatorio, politicas microeconomicas, Lei 6.404/76, Lei 10.303/01.

Avaliação de desempenho para gestão econômica de empresas pecuárias

Este artigo representou uma contribuicao ao desenvolvimento de um modelo de avaliacao de resultados e de desempenho para gestao economica da empresa pecuaria. A base conceitual adotada sustenta-se no Sistema de Informacao para Gestao Economica(GECON), principalmente na premissa de que o resultado economico e o melhor indicador da eficacia empresarial. O desenvolvimento do artigo iniciou-se com a caracterizacao da producao pecuaria, contextualizando sua importância economica nacional e internacional. Num segundo momento, pela visao sistemica da empresa pecuaria, identificou-se seus elementos, enfatizando principalmente o aspecto da gestao do sistema pecuario. A seguir, delineou-se o modelo de informacao para avaliacao de resultados e de desempenho da empresa pecuaria. Finalizou-se o estudo, com a identificacao dos principais eventos de uma area de producao animal, caracterizando-se as estruturas de tais eventos, partindo-se da suposicao de que o processo de avaliacao de desempenho fundamenta-se na representacao, em termos economico-financeiros, do que ocorre em termos operacionais.