Submitted by Elba Lopes (elba.lopes@fecap.br) on 2016-05-30T16:37:30Z No. of bitstreams: 2 Wellington Rodrigues Silva Souza.pdf: 2159942 bytes, checksum: 4bcc65837dc19c9e3effdadb756567d0 (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) / Made available in DSpace on 2016-05-30T16:37:30Z (GMT). No. of bitstreams: 2 Wellington Rodrigues Silva Souza.pdf: 2159942 bytes, checksum: 4bcc65837dc19c9e3effdadb756567d0 (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) Previous issue date: 2016-03-29 / This research has provided a discussion about the impacts on qualitative characteristics of comparability of information resulting from the lack of monetary correction of financial statements in the current Brazilian economic scenario. In face of that, the monetary correction of balance sheet was applied in the financial statements of Brazilian companies included in the subsector of steel and metallurgy that are listed on BM&FBOVESPA, from 2009 to 2014. It was calculated the comparability ratio between different companies and between different periods of the same company both at historical values and at adjusted for inflation values, considering the net profit, return on equity (ROE) and the economic value added (EVA??), which are important performance ratio used by investors as users of accounting information. Hypotheses were made for each variable in order to verify the differences of comparability between the adjusted information and the historical information. Those hypotheses were tested through the application of Student???s T-test, assuming as the null hypothesis the equality between the comparability of adjusted ratio and historical ratio, so the test???s role is indicate its acceptance or rejection. Moreover, it was calculated and analysed the percentage change between the comparability ratio considering inflationary effects and the comparability ratio without those effects. The results of hypothesis tests have shown comparability between different companies for all variables. In another hand, the results of the time axis tests have shown comparable differences for the ROE, with no statistical evidence of differences in comparability between periods for net income and for EVA??. However, the percentage change of the adjusted ratio of temporal comparability compared to historical ratio for those variables has shown significant impacts on the companies, which should not be neglected. This discovery corroborates the importance of the monetary correction of financial statements. / Este estudo promoveu uma discuss??o sobre os impactos causados ?? caracter??stica qualitativa de comparabilidade da informa????o decorrentes da aus??ncia da corre????o monet??ria das demonstra????es cont??beis no atual contexto econ??mico brasileiro. Para tanto, aplicou-se ??s demonstra????es financeiras das empresas brasileiras do subsetor de ???siderurgia e metalurgia??? listadas na BM&FBOVESPA, no per??odo de 2009 a 2014, a sistem??tica de corre????o monet??ria de balan??os (CMB). Foram calculados ??ndices de comparabilidade entre diferentes empresas e entre per??odos da mesma empresa tanto a valores hist??ricos quanto a valores monetariamente corrigidos, considerando-se as vari??veis lucro l??quido, retorno sobre o patrim??nio l??quido (ROE) e valor econ??mico agregado (EVA??), importantes indicadores de performance utilizados pelos investidores enquanto usu??rios da informa????o. Formularam-se hip??teses para cada uma destas vari??veis buscando-se verificar a exist??ncia de diferen??as de comparabilidade entre as informa????es corrigidas e as informa????es hist??ricas. Estas hip??teses foram testadas por meio da aplica????o do teste t de Student, pressupondo-se como hip??tese nula a igualdade entre os ??ndices de comparabilidade corrigidos e os ??ndices hist??ricos, cabendo ao teste indicar sua aceita????o ou rejei????o. Ademais, foram calculadas e analisadas as varia????es percentuais entre os ??ndices de comparabilidade com os efeitos inflacion??rios e os ??ndices isentos destes efeitos. Os resultados dos testes de hip??teses evidenciaram diferen??as de comparabilidade entre empresas para todas as vari??veis. J?? os resultados dos testes relativos ao eixo temporal apontaram diferen??as de comparabilidade para a vari??vel ROE, n??o havendo evid??ncia estat??stica de diferen??as na comparabilidade entre per??odos para o lucro l??quido e EVA??. No entanto, as varia????es percentuais dos ??ndices corrigidos de comparabilidade temporal em rela????o aos ??ndices hist??ricos para estas vari??veis revelaram impactos relevantes para parte das empresas, os quais n??o devem ser desprezados. Os achados da pesquisa corroboram com a import??ncia da corre????o monet??ria das demonstra????es financeiras.

Made available in DSpace on 2015-12-03T18:35:24Z (GMT). No. of bitstreams: 1 Anderson_da_Silva_Pinto.pdf: 593086 bytes, checksum: 0af63bcd9c696fd4ff30b43131d0442b (MD5) Previous issue date: 2012-11-27 / The systematic restatement that was prohibited by Law 9.249/95, allowed companies to recognize the effects of inflation in the accounting statements, thus enabling users to understand the effects of accounting that inflation generated in the asset and results of the companies. This paper aims to highlight the effects that the lack of indexation causes in equity in earnings and profitability of companies in the mining sector in the period 2006 to 2011, comparing the indicators of net income, shareholders' equity and return on equity extracted from the accounting statements determined in accordance with Brazilian Corporate Law and the accounting statements adjusted considering the effects of inflation over the period. The prohibition of the practice of restatement caused the accounting statements disclosed by companies in the mining sector do not recognize the effects of inflation, distorting the content of the information disclosed and as a consequence affecting the decision-making process of users of accounting. This is a descriptive quantitative, in which we used the methods of descriptive analysis and descriptive statistics to understand the behavior of indicators that were studied and to analyze the accounting statements of companies within the mining sector. Were collected and analyzed indicators of net income, shareholders' equity and return on equity, extracted from the accounting information disclosed in the Revista Exame Melhores e Maiores in the period from 2006 to 2011. Where significant differences were found in the values presented in accordance with Brazilian Corporate Law as compared with the figures considering the effects of inflation. The main results were that the lack of inflation adjustment in the accounting statements cause considerable distortions in the calculation of income for the period, the net asset value and profitability indicator in equity of companies in the mining sector. The distortions affect users of accounting in the process of choosing their investments and analysis of accounting information, as these users are making decisions through accounting statements do not adequately reflect the economic reality of companies in the mining sector. Conclude that the accounting practice of indexation for both corporate as managerial levels are relevant to avoid the distortions that are caused evidenced in equity, results and return on equity of companies in the mining sector, the non-recognition of inflation. / A sistem??tica da corre????o monet??ria que foi proibida pela Lei n. 9.249/95 permitia que as empresas reconhecessem os efeitos da infla????o nas demonstra????es cont??beis, possibilitando assim, aos usu??rios da contabilidade, conhecer os efeitos que a infla????o gerava no patrim??nio e nos resultados das empresas. O presente trabalho tem como objetivo evidenciar as consequ??ncias que a falta da corre????o monet??ria ocasiona no patrim??nio l??quido, no resultado do exerc??cio e na rentabilidade do patrim??nio l??quido das empresas do setor de minera????o brasileiro, no per??odo de 2006 a 2011, comparando os indicadores de lucro l??quido, do patrim??nio l??quido e da rentabilidade do patrim??nio l??quido extra??dos das demonstra????es cont??beis apuradas de acordo com a legisla????o societ??ria e as demonstra????es cont??beis ajustadas considerando os efeitos da infla????o no per??odo. A proibi????o da pr??tica da corre????o monet??ria fez com que as demonstra????es cont??beis divulgadas pelas empresas do setor de minera????o brasileiro n??o reconhe??am os efeitos da infla????o, distorcendo o conte??do das informa????es divulgadas e, como consequ??ncia, afetando o processo decis??rio dos usu??rios da contabilidade. Trata-se de uma pesquisa descritiva quantitativa, na qual foram utilizados os m??todos de an??lise descritiva e a estat??stica descritiva para se entender o comportamento dos indicadores que foram coletados das demonstra????es cont??beis das empresas pertencentes ao setor minera????o brasileiro. Este trabalho analisa os indicadores de lucro l??quido, do patrim??nio l??quido e da rentabilidade do patrim??nio l??quido, extra??dos das informa????es cont??beis divulgadas na revista Exame Maiores e Melhores, no per??odo de 2006 a 2011. Nos indicadores coletados, h?? diferen??as relevantes nos valores apresentados de acordo com a legisla????o societ??ria em compara????o com os valores apresentados considerando os efeitos da infla????o do per??odo. Os principais resultados alcan??ados foram que a falta da corre????o monet??ria nas demonstra????es cont??beis provocam distor????es consider??veis na apura????o do resultado do per??odo, no valor do patrim??nio l??quido e no indicador de rentabilidade do patrim??nio l??quido das empresas do setor de minera????o brasileiro. As distor????es afetam os usu??rios da contabilidade no processo de escolha dos seus investimentos e nas an??lises das informa????es cont??beis, pois estes usu??rios est??o tomando decis??es com base em demonstra????es cont??beis que n??o refletem adequadamente a realidade econ??mica das empresas do setor de minera????o brasileiro. Conclui-se que a pr??tica cont??bil da corre????o monet??ria, tanto para n??veis societ??rios quanto gerenciais, ?? relevante para evitar as distor????es evidenciadas que s??o causadas no patrim??nio l??quido, nos resultados e na rentabilidade do patrim??nio l??quido das empresas do setor de minera????o brasileiro, pelo n??o reconhecimento da infla????o.