The aim of this research was to identify where the expectation gap of IT competencies lies, between accountancy trainees, SAICA and employers. Existing findings and empirical research findings from this study were compared to the prescribed competencies of the professional body, SAICA, to identify where the gap lies and to suggest possible action plans to overcome it. The findings of this study suggest that the availability of technology and IT at schools is limited. Employers identified an overall expectation gap where trainees are not able to apply the basic IT competencies that should have been acquired at university to the practical working environment. The data collected also identified that IT competencies are not being taught at the same level at different universities through the different responses of students, lecturers and trainees, which leads to inconsistent exposure of accountancy trainees to IT prior to their traineeship. As IT competencies have a significant impact on the every-day working life of such a trainee, employers and SAICA expect that students would have obtained basic IT competencies before the start of their traineeship. / MCom (Accountancy)--North-West University, Vaal Triangle Campus, 2015

Thesis (MAcc) -- Stellenbosch University, 1999. / ENGLISH ABSTRACT: The current South African tax dispensation does not make provision for a system of group taxation, which gives rise to various tax anomalies. The Katz Commission recommended the implementation of a consolidation system of group taxation in their third interim report. This study investigates the issue of group taxation with the objective of commenting on the Katz Commission's recommendation. Chapter 1 explains the purpose of a system of group taxation and discusses the different forms of group taxation. Furthermore, the theoretical norms or canons are described which can be used to evaluate the current tax treatment of groups as well as the different forms of group taxation. Chapter 2 investigates the current tax treatment of groups by focussing on the tax implications of various intra-group transactions. It is found that the current tax treatment of groups does not satisfy the canons of equity, neutrality, efficiency of tax collection, low administration cost and certainty. Although the absence of a system of group taxation may contribute to technical simplicity, such an absence also leads to complex tax schemes that attempt to exploit favourable tax anomalies or avoid unfavourable anomalies. Chapter 3 exammes certain Issues which may render a system of group taxation unnecessary or undesirable, even if such a system leads to better compliance with the canons of taxation. The conclusion is reached that none of these issues will cause such a result. With regard to the issue of divisionalisation as an alternative to group taxation, it is found that section 39 of the Taxation Laws Amendment, No. 20 of 1994 does not provide an accessible mechanism for divisionalisation. Furthermore, groups may be preferred over divisionalised companies for various commercial and legal reasons. With regard to the issue of limited liability of individual group companies (a benefit which is not available to individual divisions of a single company) it is found that group companies rarely abuse this benefit. In addition, a system of group taxation will complement the concept of limited liability in promoting economic growth. With regard to the issue of concentration of economic control and ownership, the conclusion is reached that group taxation will not lead to further concentration of economic control, as the intra-group shareholding required for group tax treatment will greatly exceed the intra-group shareholding necessary for economic control. A system of group taxation may even lead to the broadening of economic ownership by enabling minority shareholdings in group companies which would otherwise be structured as divisions of existing companies due to tax considerations. Chapter 4 compares the loss transfer system of group taxation with the consolidation system, using the canons of taxation as a reference framework. Because a loss transfer system is similar to the current tax treatment of groups, in the sense that both dispensations treat individual group companies as separate taxable entities, the current tax treatment of groups is included in the above mentioned comparison by implication. It is found that a consolidation system will satisfy the canons of taxation the best. Although such a system carries the risk of undue complexity, it should be possible to design and implement a specific system which will fall within the administrative capabilities of both taxpayers and tax authorities. Chapter 5 examines key recommendations of the Katz commission with regard to group taxation. The writer expresses his agreement with the commission's conclusion that a consolidation system of group taxation should be implemented gradually. Certain adjustments to the commission's recommendations are suggested, which will facilitate quicker implementation and increased simplicity. The current tax treatment of groups leads to tax anomalies which are highly unsatisfactory. From a theoretical as well as a practical perspective, the implementation of a consolidation system of group taxation will represent a significant improvement to the South African tax dispensation. / AFRIKAANSE OPSOMMING: Suid-Afrika beskik tans nie oor 'n stelsel van groepbelasting nie, wat aanleiding gee tot verskeie belastinganomaliee. Die Katz-kommissie het die implementering van 'n gekonsolideerde stelsel van groepbelasting aanbeveel in hulle derde tussentydse verslag. Hierdie studie ondersoek die aangeleentheid van groepbelasting met die doel om kommentaar te !ewer op die Katz-kommissie se voorstelle in hierdie verband. In Hoofstuk 1 word die doel van 'n stelsel van groepbelasting verduidelik, en die verskillende vorme van groepbelasting bespreek. V erder word die teoretiese norme beskryf waaraan die huidige belastinghantering van groepe en die verskillende vorme van groepbelasting gemeet kan word. In Hoofstuk 2 word die huidige belastinghantering van groepe ondersoek deur te fokus op die belastingimplikasies van 'n verskeidenheid intra-groep transaksies. Dit word bevind dat die huidige belastinghantering van groepe nie lei tot billikheid, neutraliteit, effektiewe invordering van die belastinglas, lae administrasiekoste en sekerheid nie. En alhoewel die gebrek aan 'n stelsel van groepbelasting bydra tot tegniese eenvoud, lei dit terselfdetyd tot ingewikkelde, belastinggedrewe skemas wat poog om gunstige belastinganomaliee te benut en om ongunstige belastinganomaliee te vermy. In Hoofstuk 3 word sekere aangeleenthede ondersoek wat moontlik 'n stelsel van groepbelasting onnodig of onwenslik sal maak, selfs al sou so 'n stelsellei tot 'n meer gebalanseerde bevrediging van die teoretiese belastingnorme. Die slotsom word bereik dat geeneen van hierdie aangeleenthede we! so 'n resultaat sal he nie. Met betrekking tot divisionalisering as 'n altematief vir groepbelasting, word beslis dat artikel 39 van die Wysigingswet op Belastingwette, No. 20 van 1994 nie 'n toeganglike meganisme daarstel vir die divisionalisering van bestaande groepe nie. Uit 'n kommersiele en regsoogpunt bestaan daar boonop verskeie redes waarom groepe bo gedivisionaliseerde maatskappye verkies word. Met betrekking tot die beperkte aanspreeklikheid van afsonderlike groepmaatskappye ('n voordeel wat nie tot die beskikking is van divisies van 'n enkele maatskappy nie), word bevind dat groepe in praktyk selde hierdie voordeel misbruik of selfs benut. Voorts sal 'n stelsel van groepbelasting die konsep van beperkte aanspreeklikheid komplimenteer in die bevordering van ekonomiese groei. Met betrekking tot die konsentrasie van ekonomiese beheer en eienaarskap, word beslis dat 'n stelsel van groepbelasting nie die verdere konsentrasie van ekonomiese beheer sal aanhelp nie, aangesien die kwalifiserende aandeelhouding wat vir groepbelastinghantering vereis sal word, die aandeelhouding wat nodig is vir ekonomiese beheer ver sal oorskry. 'n Stelsel van groepbelasting mag voorts hydra tot die verbreding van aandeeleienaarskap, deurdat buiteaandeelhouers direkte belange sal kan opneem in ondernemings wat andersins gestruktureer sou word as divisies van bestaande maatskappye. In Hoofstuk 4 word verliesoordragstelsels en gekonsolideerde stelsels van groepbelasting in die algemeen vergelyk, met die belastingnorme as 'n verwysingsraamwerk. Aangesien 'n verliesoordragstelsel soortgelyk is aan die huidige belastinghantering van groepe, in die sin dat albei bedelings groepmaatskappye as afsonderlike belastingentiteite hanteer, word die huidige belastinghantering van groepe by implikasie ingesluit in die vergelyking. Die slotsom word bereik dat 'n gekonsolideerde stelsel van groepbelasting die mees bevredigende stelsel is in terme van 'n gebalanseerde voldoening aan die belastingnorme. Alhoewel 'n gekonsolideerde stelsel die risiko van kompleksiteit inhou, is dit moontlik om 'n spesifieke stelsel op sodanige wyse te ontwerp en implementeer dat dit wel administreerbaar sal wees. In Hoofstuk 5 word sleutelaanbevelings van die Katz-kommissie met betrekking tot groepbelasting ondersoek. Die skrywer spreek sy instemming uit met die kommissie se voorstelle vir die geleidelike implementering van 'n gekonsolideerde stelsel van groepbelasting. Sekere wysigings word aangebring aan die kommissie se voorstelle, ten einde verdere eenvoud en spoediger implementering teweeg te bring. W anneer die belastinganomaliee as gevolg van die huidige belastinghantering van groepe oorweeg word, is dit duidelik dat die huidige situasie onhoudbaar is. Uit 'n teoretiese en praktiese oogpunt, sal die implementering van 'n gekonsolideerde stelsel van groepbelasting 'n beduidende verbetering van die Suid-Afrikaanse belastingbedeling meebring.

Syfte Syftet med denna studie är att förklara hur auktoriserade revisorer upplever att de senaste förändringarna inom revisionsbranschen påverkat samhällsnyttan av revision. Metod En kvantitativ undersökning genomfördes via en elektronisk enkät som skickades ut till svenska auktoriserade revisorer, varpå en statistisk analys av 130 svar var möjlig. Resultat Resultatet visade att medlemmarna av den svenska revisorsprofessionen är enade. Revisorer identifierar sig både professionellt och organisatoriskt. Svenska revisorer upplever att rådgivning är positivt för samhällsnyttan, de upplever även att ISA har en positiv inverkan på samhällsnyttan. Äldre revisorer är dock negativa till internationella regelverk. En stark revisorsidentitet visade sig vara avgörande för uppfattningen om förändring ökar eller minskar samhällsnyttan. Praktiskt bidrag och sociala aspekter Studien har visat att professionell identitet och organisatorisk identitet kan mätas som ett samlat begrepp, kallat revisorsidentitet. Begreppet innefattar hela revisorsprofessionen med både profession och organisation. Studien bidrar även till förståelse över hur förändringar inom den svenska revisorsprofessionen uppfattas av de svenska auktoriserade revisorerna. / Purpose The aim of our study was to explain how the authorized auditors in Sweden perceive that the institutional changes have affected the public interest o auditing. Method A quantitative study was made through an electronic survey which was sent to authorized auditors in Sweden. Were 130 answers could be used in the statistical analysis. Findings The result shows that the members of the Swedish audit profession are united. Auditors identify themselves both with professional and organizational identity. Swedish auditors perceive that consulting is positive for the public interest; they also feel that ISA has a positive impact on the public interest. However; older auditors have a negative attitude towards international regulations. The auditor identity turned out to be the crucial element whether or not institutional changes perceived to increase or decrease the public interest. Practical implications and originality The study has showed that professional identity and organizational identity can be assembled as one concept, the auditor identity. The concept includes the entire audit profession, both profession and organization. The study also contributes to the understanding of how institutional changes in the Swedish audit profession is perceived by the Swedish authorized auditors

The purpose of this thesis is to discuss the relationship between the pupil's classification and their attitude to economical subjects. The thesis is subdivided into two basic parts-theoretical and empirical. The theoretical part concerns about attitudes, motivations and classifications. The empirical part explains the outcome and result of my research, which was realized on pupils of third year of studies at economical secondary school.

This paper reports the findings of a mixed methods research study which sought to explore the impact of teaching and learning cultures on the performance of fourth year Accountancy students. The collection of data was done through questionnaires as well as interviews with lecturers. Learning culture was explored by measuring and comparing the cultural dimensions of fourth year Accountancy students at two South African universities in order to understand the differences and similarities between the two institutions’ student bodies. There were statistically significant differences between the students of the two universities only along the cultural dimensions of long-term orientation and indulgence versus restraint. It was found that uncertainty avoidance, monumentalism and the age of students significantly impact their performance in Accountancy. Cultural dimensions of students which could hinder their performance in Accountancy are identified and some recommendations are made with regards to addressing areas of weakness in learning culture.

Este trabalho avalia a relevância do fluxo de caixa operacional corrente, accruals e lucros correntes para predizerem o fluxo de caixa operacional futuro e estimarem o retorno das ações das companhias abertas brasileiras. A análise é realizada seguindo o modelo desenvolvido por Barth et al (2001), o qual se baseia no modelo de Dechow et al (1998) e no estudo realizado por Bartov et al (2001). A partir dos modelos teóricos são desenvolvidas 7 hipóteses para analisar a relevância das informações contábeis para o mercado de capitais brasileiro. A pesquisa empírica é desenvolvida a partir das Demonstrações de Fluxo de Caixa publicadas, voluntariamente e pelo método indireto, por companhias abertas com ações listadas na Bolsa de Valores de São Paulo (BOVESPA), no período de 2000 a 2007. As análises são realizadas utilizando dados em painel. As evidências empíricas indicam que o lucro corrente é mais relevante do que o próprio fluxo de caixa operacional corrente para predizer o fluxo de caixa operacional futuro (t+1); os accruals são relevantes para predizer o fluxo de caixa operacional futuro e adicionam capacidade preditiva ao lucro corrente, pois lucro corrente desagregado em fluxo de caixa operacional e seis componentes de accruals mostra-se ainda mais relevante do que o lucro corrente para estimar o fluxo de caixa operacional futuro (t+1). Contudo, as informações contábeis não se mostram significativas para predizer o fluxo de caixa operacional futuro para períodos além de um ano para as empresas brasileiras. Adicionalmente, os resultados indicam que o lucro corrente é mais relevante do que o fluxo de caixa operacional corrente para explicar o retorno corrente das ações e o fluxo de caixa operacional corrente é mais relevante do que o lucro corrente para explicar o retorno futuro das ações. Os accruals são relevantes para explicar os retornos, corrente e futuros das ações, evidenciando que o lucro corrente desagregado em fluxo de caixa operacional e seis componentes de accruals é mais relevante do que o lucro corrente e o fluxo de caixa operacional corrente para explicar os retornos corrente e futuros das ações, respectivamente. Os resultados ainda evidenciam que a relevância do lucro corrente e do fluxo de caixa operacional corrente é influenciada pelos accruals e que há reconhecimento assimétrico tanto para o lucro quanto para o fluxo de caixa operacional. Dessa maneira, os resultados evidenciam que a Demonstração do Fluxo de Caixa fornece informações relevantes adicionais àquelas fornecidas pelo lucro na predição dos fluxos de caixa operacionais futuros e na explicação do retorno das ações das empresas brasileiras, indicando que sua divulgação contribui para a redução dos níveis de assimetria informacional e para a melhoria do conteúdo informativo da contabilidade. / This research evaluates the relevance of operating current cash flow, accruals and current profits to predict the future operating cash flow and estimate the return of shares from listed companies in Brazil. The analysis is performed according the model developed by Barth et al (2001), which is based on the model of Dechow et al (1998) and the study conducted by Bartov et al (2001). Seven hypothesis are developed from the theoretical models in order to analyze the relevance of accounting information to the Brazilian Capital Market. Empirical research is developed from the Cash Flow Statement, which is published voluntarily and by the indirect method, by listed companies with stock traded in the Bolsa de Valores de São Paulo (BOVESPA) in 2000 to 2007period. The analysis is performed using Panel Data. Empirical evidences indicate that the current profit is more relevant than the operating current cash flow to predict the future operating cash flow (t +1). Accruals are relevant to predict the future operating cash flow and add predictive capacity to the current profit, because current profit split in operating cash flow and six components of accruals is even more relevant than the current profit to estimate future operating cash flow (t +1). However, account information is not significant to predict the operating cash flow to future periods for Brazilian companies beyond a year. Additionally, results indicate that the current profit is more relevant than the operating current cash flow to explain the current stock return and operating current cash flow is more relevant than current profit to explain future stock returns. Accruals are relevant to explain the current and future stock returns, showing that the current profit split in operating cash flow and six components of accruals is more relevant than the current profit and operating current cash flow to explain the current and future stock returns, respectively. Also, results show that the relevance of current profit and operating current cash flow is influenced by accruals and that there is asymmetrical recognition both for profit and for operating cash flow. Thus, results suggest that Cash Flow Statement provides additional and relevant information to those provided by profit in the prediction of future operating cash flows and on the explanation of the stock returns of Brazilian companies, indicating that its disclosure helps to reduce the asymmetry of information level and to improve the informational content of Accounting.

Devido à grande volatilidade e ao dinamismo do mercado financeiro, a gestão do risco operacional é fator preponderante para a sobrevivência de qualquer negócio. A lógica existente na disciplina de mercado pressupõe que este possui mecanismos coercitivos de maneira a induzir os gestores a administrar prudentemente os negócios. Ou seja, a sua eficiência depende da atuação ativa dos participantes do mercado no sentido de beneficiar ou recompensar as instituições mais bem geridas e penalizar as empresas mal administradas. Tradicionalmente, os bancos divulgam dados acerca das exposições ao risco de crédito e de mercado, a fim de auxiliar a compreensão do seu perfil de risco. Entretanto, também estão expostos a outros tipos de riscos, tais como o risco operacional, o qual pode prejudicar significativamente o desempenho futuro, podendo levá-los até a falência. Logo, verifica-se a importância da divulgação dessas informações para a disciplina de mercado. Buscando proteger o sistema financeiro dos resultados negativos advindos dos riscos inerentes às suas atividades, o Comitê da Basiléia publicou o Novo Acordo de Capital, previsto para entrar em vigor no final de 2006, sendo que nesta data as instituições financeiras deverão obedecer a certos padrões mínimos no gerenciamento de seus riscos, entre eles o operacional. Esta dissertação tem por objetivo analisar a avaliação e gerenciamento do risco operacional em uma instituição financeira nacional de grande porte, detectando instrumento de medida e análise e o estágio de desenvolvimento quanto ao gerenciamento do risco operacional. Para tanto, utilizou-se a metodologia de Estudo de Caso e as evidências foram obtidas por documentação, registros em arquivos, entrevistas e observação direta. Os resultados sugerem que o banco pesquisado encontra-se em estágio intermediário na administração dos riscos operacionais, contudo, está desenvolvendo técnicas e processos tanto para se adequar às exigências dos órgãos supervisores, quanto para a melhoria de seus resultados. / Due to the great volatility and to the dynamism of the finance market, the management of the operational risk is a preponderant factor for the survival of any business. The logic that is in the market discipline, implies that it has coercive mechanisms that induces the managers to manage carefully theirs business. In other words, the efficiency depends on the active performance of the participants of the market, on the sense of benefiting or to reward the institutions that are good managed and to penalize the bad managed one. Traditionally, the banks give data concerning the exposure to the credit market risks, in order to assist the comprehension of their risk profile. However, they are also exposed to other kinds of risks, such as the operational risk, which can injure significantly the future performance and could even conduct them to the bankruptcy. Soon, they can verify the importance of the divulgation of these information for the market discipline. Seeking to protect the financial system from negative results of the inherent risks to its activities, Basel Committee published the New Capital Accord, foreseen to go into effect at the end of 2006, and in this date the financial institutions should obey some minimum standards in the management of their risks, among them the operational. The goal of this dissertation is to analyze the evaluation and management of the operational risk in large financial institution, detecting measure and analysis instrument and the stage of development regarding the management of the operational risk. For that, the methodology of Study of Case was used and the evidences were obtained by documentation, records in files, interviews and direct observation. The results suggest that the searched bank is on an intermediary stage in the administration of the operational risks, however, it is developing techniques and processes to adapt to the supervisors\' demanding and to the improvement of its results.

Este trabalho tem como objetivo investigar a relação entre o nível de disclosure voluntário e o custo de capital de terceiros. Espera-se que o aumento do disclosure pelas empresas resulte na diminuição da assimetria de informação, diminuindo o risco oferecido aos financiadores da empresa, resulte, também, no aumento da visibilidade e negociabilidade de seus papéis, bem como na quantidade de informação divulgada aos seus stakeholders de uma forma geral. Como plataforma teórica, foi utilizada a Teoria da Divulgação estudada por Verrechia (2001), mais explicitamente a pesquisa baseada em Eficiência, além de serem demonstrados os cálculos dos custos de capital, como a apresentação de pesquisas nacionais e internacionais sobre o assunto. Com relação à empiria, foi elaborado um nível de evidenciação das informações contábeis para se comparar com o custo de capital de terceiros pesquisado. Foram pesquisadas 23 companhias abertas no decorrer de 2000 a 2004, para o nível de disclosure, e de 2001 a 2005, para o custo de capital de terceiros e as variáveis de controle, obedecendo à seguinte equação: (Kdt) = ?(NDt-1, variáveis de controlet-1). Antes de analisar a regressão com dados em painel, foi utilizada a técnica multivariada de Análise de Correspondência (ANACOR) para se fazer uma análise exploratória das variáveis estudadas. Os resultados empíricos demonstraram que, a partir da utilização do efeito pooling, pelo método dos mínimos quadrados generalizados, cujo R2 foi de aproximadamente 28,49%, o nível de disclosure voluntário possui relação inversa com o custo de capital de terceiros, ou seja, quanto maior o nível de diclosure, menor o custo de capital de terceiros, dessa forma, não se rejeitou a hipótese estudada. Apesar dos resultados obtidos e das conclusões apresentadas, devem-se levar em consideração algumas limitações da pesquisa, como: as conclusões obtidas ficaram restritas à amostra, às variáveis e à ferramenta econométrica usada, podendo, como sugestões para novas pesquisas, utilizarem-se outras ferramentas estatísticas (análise de cluster, painéis dinâmicos, entre outros) e outras variáveis para, até mesmo, fazer comparações com o estudo apresentado. / The objective of this research is to verify the relation between voluntary disclosure and the cost of debt of the companies. It is expected that the disclosure increase results in the reduction of information asymmetry and the risk given to the suppliers, and increases the visibility and the negotiation of their stocks, as well as the amount of information given to the stakeholders. The Theory of Disclosure, created by Verrechia (2001), mainly the ?efficiencybased disclosure? was used and the theories of the cost of debts, as showed in nacional and internacional researches. In respect to the empirical data, a level of voluntary disclosure has been made to compare with the companies? cost of debt. The research design covers the 2000- 2004 periods for the voluntary disclosure and controls variables and 2000-2005 periods for the cost of debt using the equation: (Kdt) = f(NDt-1, control variablest-1), with a sample of 23 companies. Before using the panel data, we have used the Correspondence Analysis which is an exploratory method. Subsequently, evidences show that using combined effects in generalized least squares, which results a R2 of 28,49%, the voluntary disclosure level has inverse relation with the cost of debt, that is, as higher the disclosure level as lesser the cost of debt of the companies. Despite the results and the presented conclusions, some limitations of the research must be led in consideration, as: the conclusions had been restricted to the sample, to the variables and the econometrical tool, being able, as suggestions for new researchs, to use other statistical tools (analysis of cluster, dynamic panel and others) and other variables for, even though, making comparisons with the presented study.

A normatização da contabilidade no Brasil tem origem não só na Lei nº 6.404/76, que define as regras contábeis para as Sociedades por Ações, mas também na legislação fiscal, por meio do Regulamento do Imposto de Renda, pelas Instruções, Deliberações, Ofícios Circulares e outros documentos da Comissão de Valores Mobiliários - CVM, pelas Normas Brasileiras de Contabilidade emitidas pelo Conselho Federal de Contabilidade e, até mesmo, pelo Novo Código Civil. Além desse conjunto de órgãos normatizadores, existem ainda as regras ditadas por agências federais reguladoras como a Agência Nacional de Telecomunicações (ANATEL) e a Agência Nacional de Energia Elétrica (ANEEL), por exemplo, não se esquecendo do Banco Central do Brasil, que tem poderes para definir regras para as instituições financeiras. Mais recentemente foi criado o Comitê de Pronunciamentos Contábeis (CPC), com o objetivo de centralizar a emissão de Pronunciamentos na área contábil que poderão ser adotados pelos diversos órgãos normatizadores. E, finalmente, em dezembro de 2007, a Lei nº 11.638 alterou substancialmente a Lei nº 6.404/76 em suas disposições de natureza contábil. Nesse cenário de tantos órgãos normatizadores, os diversos Pronunciamentos e Normas produzidos não são iguais entre si quando tratam de um mesmo assunto e, em muitos casos, divergentes em alguns pontos. Além disso, é de se esperar que as práticas contábeis hoje não sejam as mesmas existentes nos anos 70. Este trabalho analisa as alterações julgadas mais importantes ocorridas em um período de aproximadamente trinta anos, isto é, de 1978, quando a Lei das Sociedades por Ações entrou em vigor, a 2008, quando a Lei das Sociedades por Ações foi reformulada em alguns de seus artigos que tratam dos aspectos contábeis. Foi constatado que as alterações ocorridas nas práticas contábeis no decorrer dos anos buscam atender à demanda do mercado, principalmente a exigência de maior confiabilidade e qualidade das informações contábeis publicadas pelas empresas. Podem ser destacados como exemplos a correção monetária integral na década de 80 e primeira metade da década de 90 e a primazia da essência econômica em detrimento de sua forma jurídica no processo de avaliação, entre outros. É importante ressaltar, ainda, a influência norte-americana na Lei nº 6.404/76 e nas normas emitidas pela CVM desde aquele período até a década de 90. Nos últimos anos, a CVM tem a clara preocupação com a convergência das práticas contábeis brasileiras às internacionais emitidas pelo International Accounting Standards Board IASB. / The standardization of accounting in Brazil has its origin not only based on the Law nº 6.404/76, which defines the accounting rules for the Limited Liability Corporation Law, but also on the fiscal law according to the Income Tax Regulation; in addition it is ruled by the Instructions, Rules and other documents complying with the Securities Commission (CVM), by Brazilian Accounting Standard issued by Federal Accounting Council, and also by the Civil Code. Besides these ruling agencies, there are the rules issued by Regulating Agencies such as National Agency for Telecommunications (ANATEL) and National Agency for Electric Energy (ANEEL), as well as the Brazilian Central Bank which establishes rules for financial entities. Recently the Accounting Pronouncements Committee (CPC) was founded for establishing the accounting pronouncements in Brazil, which may be adopted by several ruling agencies. And, finally, in December 2007, the Law nº 11.638 came to change substantially the Law nº 6.404/76 regarding its accounting subjects. Due to this scenario of such a large number of regulating agencies, there are different pronouncements and rules concerning the same issue and, in many cases, divergent in some aspects. Furthermore, the accounting practices nowadays are naturally different from those of the 70´s. This work analyses the main considered changes that have occurred in the last thirty years, in other words, from 1978 when the Limited Liability Corporation Law started, up to 2008, when the Limited Liability Corporation Law was reformulated concerning those articles regarding the accounting aspects. The changes occurred in the accounting practices along the years aim at responding to the market demand, mostly the great need of reliability as well as the quality of the accounting information disclosed by the companies. We can mention as examples the methodology of the Integral Correction in the 80´s and in the early 90´s, besides, the consideration of the economic essence rather than its juridical aspects in the valuation process, among others. It is important to cite, yet, the North American influence concerning the issue of the Law nº 6.404/76 as well as the Rules issued by CVM since then, up to the 90´s. In the recent years CVM is absolutely worried about the convergence between the Brazilian accounting practices and the international accounting practices issued by International Accounting Standards Board - IASB.

As empresas com tarifas reguladas, de maneira geral, fornecem bens públicos. Muitas delas atuam em atividades que são prerrogativas, diretas ou indiretas, do estado. A regulamentação tarifária se justifica pelo fato de essas empresas não atuarem em condições de mercado. A tarifa é definida de maneira a fornecer uma remuneração justa, pelo risco assumido pelo investidor e, concomitantemente, um custo razoável para os consumidores. Existem dois modelos extremos de regime tarifário: cost-plus (pelo custo) ou fixed-price (pelo preço). O primeiro repassa todos os custos incorridos e mais uma margem às tarifas. Por outro lado, os regimes pelo preço fixam a tarifa máxima, que não está necessariamente associada aos custos incorridos. A diferença fundamental entre os dois regimes está no estímulo à eficiência, inexistente nos regimes pelo custo. Na prática, muitos regimes são considerados como híbridos, ou seja, somente alguns custos têm sua recuperação garantida. Nesses regimes, é necessária a existência de algum mecanismo de repasse dos custos recuperáveis. No Brasil, o setor elétrico adotou um modelo no qual a tarifa garante a recuperação dos custos não gerenciáveis (a chamada \"parcela A\"), e os custos gerenciáveis são fixados com base em níveis considerados como eficientes (a chamada \"parcela B\"). Por meio da portaria interministerial MF/MME nº 025/2002, o poder concedente cria um mecanismo para garantir a recuperação dos custos não gerenciáveis - a chamada conta de Compensação da Variação dos Custos da Parcela A (CVA). Segundo esse mecanismo, a diferença entre os custos que compõem essa parcela e o efetivamente incorrido é repassada no próximo reajuste tarifário anual. Caso o saldo não seja integralmente recuperado dentro de um ano, o resíduo é contemplado nos próximos reajustes anuais. O saldo da CVA é atualizado pela SELIC, da data de sua ocorrência até a data de sua liquidação. Com a adoção das normas internacionais de contabilidade, os itens regulatórios foram eliminados das demonstrações contábeis societárias. Devido às suas funções regulatórias, a agência nacional de energia elétrica (ANEEL) decidiu criar a contabilidade regulatória, na qual, entre outras exigências, o reconhecimento da CVA é obrigatório. O presente estudo analisa se a regulamentação tarifária fornece suporte para o reconhecimento contábil dos itens regulatórios, bem como, especificamente o da CVA. O estudo se suporta pela teoria da regulação e pela teoria contábil, com ênfase na estrutura conceitual para elaboração e divulgação de relatório contábil-financeiro (IFRS FOUNDATION, 2010). A pesquisa pode ser rotulada como qualitativa. Conclui-se que os itens regulatórios somente podem ser reconhecidos quando existe um recurso econômico ou uma obrigação econômica presente. Por consequência, apenas devem ser contabilizados os itens regulatórios cuja recuperação ou devolução for garantida. Especificamente para a CVA, não existem evidências objetivas de que seu saldo possa ser recuperado de outra maneira que não seja pela tarifa de fornecimento de energia, não devendo, portanto, ser reconhecido nas demonstrações contábeis societárias. / Rate-regulated companies generally provide public goods. Many of them carry out activities that are prerogative, direct or indirect, of the State. Rate regulations are justified by the fact that these companies do not operate under free market conditions. Rates are set in order to provide a fair return to the risk taken by the investor and concomitantly a reasonable cost to consumers. There are two broad regulatory regimes: cost-plus and fixed-prices. Regimes based on cost allow the recovery of all incurred costs, plus a margin. On the other hand, regimes based on price set a maximum rate, which is not necessarily associated with the incurred costs. The key difference between regimes is the efficiency stimulus, not present in cost regimes. In practice, many regimes are considered hybrid, in other words, just some costs have their recovery guaranteed. Under these regimes, it is necessary a pass-through mechanism for the recoverable costs. In Brazil, the energy sector adopted a model in which the rate allows the recovery of non-manageable cost (called \"Parcel A\"), while manageable costs are recovered based on efficiency levels (called \"Parcel B\"). Through the Portaria Interministerial MF/MME no 025/2005, the grantor creates a mechanism that allows the recovery of non-manageable costs, the so-called \"Conta de Compensação de Variação dos Custos da Parcela A (CVA). By this mechanism, the difference between the costs that are included in \"Parcel A\" and those actually incurred is considered in the next annual rate reset. In the case that it is not wholly recovered within one year, the remainder will be contemplating in the next annual rate resets. The CVA balance is indexed by the SELIC from the date of its occurrence to its settlement. With the International Accounting Standards adoption, the regulatory items are derecognized from the corporate financial statements. Due to its regulatory duties, ANEEL decided to create the Regulatory Accounting, in which amongst other requirements, the recognition of the regulatory items is mandatory. The present study analyses if the rate regulation provides support for the recognition of regulatory items, more specifically, the CVA. The study is based on the Regulation Theory and Accounting Theory with emphasis in the Conceptual Framework for Financial Reporting (IFRS FOUNDATION, 2010). The research can be labelled as qualitative. It was concluded that regulatory items shall only be recognized when there are a present economic resource or a present economic obligation. Consequently, only the regulatory items which the recovery or the devolution is guaranteed can be booked. Specifically for CVA, there are no objective evidences that its balance can be recovery by other mean different than energy supply rate. Therefore, it shall not be recognized in the corporate financial statements.