Esta pesquisa investigou as motivações econômicas que explicam o nível de reconhecimento dos tributos diferidos sobre o lucro nas companhias abertas brasileiras no período inicial de adoção das IFRS no Brasil e da vigência obrigatória do Regime Tributário de Transição. Foram selecionadas companhias abertas não financeiras brasileiras componentes no índice IBrX 100, sendo identificadas 68 companhias nos anos de 2010 à 2013 compreendendo assim 272 observações. A análise descritiva dos dados evidenciou que o montante dos passivos fiscais diferidos foi superior ao montante dos ativos fiscais diferidos em todos os anos pesquisados, situação esta que contrata com o cenário pré-IFRS onde existiam menos passivos fiscais diferidos devido às reduzidas opções de exclusões temporárias, e que os ativos fiscais diferidos são majoritariamente oriundos de diferenças temporárias, porém ocorrendo um crescimento maior dos créditos fiscais referentes a prejuízos fiscais no período combinado com uma evolução maior dos ativos fiscais totais do que dos passivos fiscais diferidos. Por meio da análise multivariada de regressão múltipla com dados em painel foi possível constatar que: (i) não há relacionamento significativo entre o reconhecimento de tributos diferidos e o endividamento da empresa, isto é, não existe evidência que as companhias utilizem os tributos diferidos com a finalidade de influenciar o nível de endividamento, apesar da possibilidade de quebra de covenants e, consequentemente, aumento de seu risco de crédito, (ii) as maiores empresas tendem a registrar um valor menor de ativos fiscais diferidos líquidos de forma a reduzir seus lucros e divulgar sua sobretaxação a fim de reduzir sua exposição pública, e (iii) as empresas menos lucrativas são propensas a reconhecer um montante maior de ativos fiscais diferidos líquidos para, presumivelmente, atenuar o baixo resultado da empresa e com isso mascarar o seu fraco desempenho, e também, por outro lado, as companhias que possuem maior rentabilidade tendem a registrar valores menores de ativos fiscais diferidos líquidos no sentido de reduzir o lucro, e com isso, diminuir seus custos políticos. Assim, os resultados obtidos sugerem que as empresas utilizam a discricionariedade proporcionada pela regulação contábil dos tributos diferidos para atingir seus objetivos e demandas, no sentido de reduzir sua exposição pública e melhorar sua rentabilidade. / This research investigated the economic motivations that explain the level of recognition of deferred income taxes in the Brazilian companies during initial adoption of IFRS in Brazil and the mandatory term of the Transitional Tax Regime. Non-financial public companies were selected in the index IBrX 100, 68 companies were identified from 2010 to 2013 comprising 272 observations. The descriptive analysis of the data indicated that the amount of deferred tax liabilities was greater than the amount of deferred tax assets in all years studied, a situation that contracts with the pre-IFRS scenario where there were fewer deferred tax liabilities due to reduced options of temporary exclusions and that the deferred tax assets are mainly arising from temporary differences, however there was further growth of tax credits related to tax losses in the period combined with a greater increase in total tax assets than deferred tax liabilities. In the multivariate multiple regression analysis with panel data it was found that: (i) there is no significant relationship between the recognition of deferred taxes and the debts of the Company, that is, there is no evidence that companies use deferred taxes for the purpose of influencing the level of debt, despite the possibility of covenants be broken and, consequently, increase its credit risk, (ii) larger firms tend to register a lower value of net deferred tax assets to reduce their profits and disclose their overcharge in order to reduce public exposure, and (iii) the least profitable firms are likely to recognize a greater amount of net deferred tax assets for presumably mitigate the low result of the company and thus mask their poor performance and also, on the other hand, companies that have higher profitability tend to register lower values of net deferred tax assets to reduce profit, and thus, lower their political costs. Thus, the results suggest that companies use discretion provided by the accounting regulation of deferred taxes to achieve their goals and demands, to reduce public exposure and improve its profitability.

Esta pesquisa investigou as motivações econômicas que explicam o nível de reconhecimento dos tributos diferidos sobre o lucro nas companhias abertas brasileiras no período inicial de adoção das IFRS no Brasil e da vigência obrigatória do Regime Tributário de Transição. Foram selecionadas companhias abertas não financeiras brasileiras componentes no índice IBrX 100, sendo identificadas 68 companhias nos anos de 2010 à 2013 compreendendo assim 272 observações. A análise descritiva dos dados evidenciou que o montante dos passivos fiscais diferidos foi superior ao montante dos ativos fiscais diferidos em todos os anos pesquisados, situação esta que contrata com o cenário pré-IFRS onde existiam menos passivos fiscais diferidos devido às reduzidas opções de exclusões temporárias, e que os ativos fiscais diferidos são majoritariamente oriundos de diferenças temporárias, porém ocorrendo um crescimento maior dos créditos fiscais referentes a prejuízos fiscais no período combinado com uma evolução maior dos ativos fiscais totais do que dos passivos fiscais diferidos. Por meio da análise multivariada de regressão múltipla com dados em painel foi possível constatar que: (i) não há relacionamento significativo entre o reconhecimento de tributos diferidos e o endividamento da empresa, isto é, não existe evidência que as companhias utilizem os tributos diferidos com a finalidade de influenciar o nível de endividamento, apesar da possibilidade de quebra de covenants e, consequentemente, aumento de seu risco de crédito, (ii) as maiores empresas tendem a registrar um valor menor de ativos fiscais diferidos líquidos de forma a reduzir seus lucros e divulgar sua sobretaxação a fim de reduzir sua exposição pública, e (iii) as empresas menos lucrativas são propensas a reconhecer um montante maior de ativos fiscais diferidos líquidos para, presumivelmente, atenuar o baixo resultado da empresa e com isso mascarar o seu fraco desempenho, e também, por outro lado, as companhias que possuem maior rentabilidade tendem a registrar valores menores de ativos fiscais diferidos líquidos no sentido de reduzir o lucro, e com isso, diminuir seus custos políticos. Assim, os resultados obtidos sugerem que as empresas utilizam a discricionariedade proporcionada pela regulação contábil dos tributos diferidos para atingir seus objetivos e demandas, no sentido de reduzir sua exposição pública e melhorar sua rentabilidade. / This research investigated the economic motivations that explain the level of recognition of deferred income taxes in the Brazilian companies during initial adoption of IFRS in Brazil and the mandatory term of the Transitional Tax Regime. Non-financial public companies were selected in the index IBrX 100, 68 companies were identified from 2010 to 2013 comprising 272 observations. The descriptive analysis of the data indicated that the amount of deferred tax liabilities was greater than the amount of deferred tax assets in all years studied, a situation that contracts with the pre-IFRS scenario where there were fewer deferred tax liabilities due to reduced options of temporary exclusions and that the deferred tax assets are mainly arising from temporary differences, however there was further growth of tax credits related to tax losses in the period combined with a greater increase in total tax assets than deferred tax liabilities. In the multivariate multiple regression analysis with panel data it was found that: (i) there is no significant relationship between the recognition of deferred taxes and the debts of the Company, that is, there is no evidence that companies use deferred taxes for the purpose of influencing the level of debt, despite the possibility of covenants be broken and, consequently, increase its credit risk, (ii) larger firms tend to register a lower value of net deferred tax assets to reduce their profits and disclose their overcharge in order to reduce public exposure, and (iii) the least profitable firms are likely to recognize a greater amount of net deferred tax assets for presumably mitigate the low result of the company and thus mask their poor performance and also, on the other hand, companies that have higher profitability tend to register lower values of net deferred tax assets to reduce profit, and thus, lower their political costs. Thus, the results suggest that companies use discretion provided by the accounting regulation of deferred taxes to achieve their goals and demands, to reduce public exposure and improve its profitability.

x, 65 p. : ill. A print copy of this thesis is available through the UO Libraries. Search the library catalog for the location and call number. / I examine the relation between book-tax differences (BTDs) and earnings growth. Because financial accounting rules afford managers more flexibility and discretion in reporting than tax accounting rules, prior studies suggest that large differences between book and taxable income indicate lower quality (or less persistent) earnings. Lev and Nissim and Hanlon provide evidence that BTDs contain information about future firm performance, but the nature of the causality in this relation is not clear. While BTDs could proxy for earnings quality, they may also reveal underlying economic events or management's private information about future performance or simply predict future reversals in effective tax rates. I divide total BTDs into their measurable components: temporary (deferred taxes) and non-temporary (permanent differences and tax accruals), and test their relation with the components of net income changes: pretax earnings changes and tax expense changes. I hypothesize that the non-temporary component of BTDs is negatively related to future changes in tax expense, whereas the temporary component of BTDs is negatively related to changes in future pretax earnings. I also examine the maintained hypothesis that the lower earnings growth for large BTD firms is due to earnings management. I use various proxies from prior literature to identify firms potentially managing earnings and test whether the presence or absence of suspected earnings management activity alters the relation between BTDs and earnings changes. My results provide compelling evidence that permanent BTDs are related only to future changes in tax expense, and temporary BTDs are related to changes in pretax earnings. These results are robust to multiple sensitivity analyses, including a replication of the sample and methodology of Lev and Nissim. The results also hold in the case of firms not suspected of earnings management. In fact, 1 find only limited evidence that the results are stronger in the presence of earnings management. Overall, my study suggests that it is only the temporary component of BTDs that is related to future firm performance, with non-temporary differences being related to future tax expense changes, and that these results are primarily due to underlying economic factors, not earnings management. / Committee in charge: David Guenther, Chairperson, Accounting; Steven Matsunaga, Member, Accounting; Linda Krull, Member, Accounting; Glen Waddell, Outside Member, Economics

Against the background of increasing tension between the need for additional disclosure and an information overload in financial statements, this study investigates the relevance of specific tax accounting information in an experimental setting. Participants make judgments on the financial performance, investment attractiveness and tax position of the firm, in absence or in presence of detailed tax information in the other comprehensive income statement. Our results do not support the notion that such deferred tax information has an effect on the judgment of experts, as long as the amounts of deferred tax are normal. However, when the detailed amounts of deferred tax are abnormally high, judgment differs significantly. Our result is important for standard setters, as they may consider further developing guidance in standards (such as IAS 1 and IAS 12) and in the Practice Statement for how to judge materiality of information, in accordance with the materiality principle set forth in IAS 1.31. By doing so, the risk of information overload can be reduced. Our study thus contributes to the current debate on the extent of disclosure. Our results are novel and the method used allows for the isolation of effects and the identification of causal relationships. / Series: WU International Taxation Research Paper Series

Die StuFo-Expo gibt mir die Möglichkeit meine Forschung im Rahmen meines Promotionsprojektes zugänglich für eine breite, fachübergreifende Öffentlichkeit zu machen. Zudem erhalte ich die Chance, Forschungsthemen, -ergebnisse und -methoden fachübergreifend kennenzulernen. Es ist ein einzigartiges Projekt, welches Studierende miteinander vernetzt und wichtige Fähigkeiten der Studierenden fördert. Das Thema meiner Forschung ist die Wertrelevanz latenter Steuern. Ich untersuche die Fragestellung ob latente Steuern bei der Vorhersage der zukünftigen Unternehmensentwicklung zusätzliche Informationen für verschiedene Stakeholder liefern. Dafür analysiere ich die knapp 1.800 verfügbaren Jahresabschlüsse aller im DAX Prime Standard gelisteten Firmen zwischen 2007 und 2018. Das von mir eingereichte Poster zeigt, dass latente Steuern dabei helfen, die Entwicklung des Marktwertes des Eigenkapitals bis zu zwei Jahren im Voraus zu prognostizieren. Dabei tragen aktive latente Steuern als wahrscheinliche zukünftige Steuerrückzahlungen positiv zum Unternehmenswert und deshalb zum Marktwert bei und passive latente Steuern als wahrscheinliche zukünftige Steuerzahlungen negativ zum Unternehmenswert und deshalb zum Marktwert bei. Ferner kann ich nachweisen, dass die ergänzende Berichterstattung über latente Steuern eher negativ von Marktteilnehmern bewertet wird. Mögliche Gründe hierfür sind die hohe Komplexität der Informationen und die fehlende Überleitbarkeit dieser Informationen auf Bilanz- und Gewinn- und Verlustrechnungszahlen. Auch zeigen Interviewstudien, dass das Vertrauen in latente Steuern und die dazugehörige Berichterstattung gering ist, da Stakeholder vermuten, dass latente Steuern zumindest teilweise für Bilanzpolitik genutzt werden. / The StuFo-Expo gives me the opportunity to make my research accessible to a broad, interdisciplinary public as part of my doctoral project. I also get the chance to get to know research topics, results and methods across disciplines. It is a unique project that connects students with one another and promotes important student skills. The topic of my research is the value relevance of deferred taxes. I am investigating the question of whether deferred taxes provide additional information for various stakeholders when predicting future corporate development. To do this, I analyze the almost 1,800 available annual financial statements of all companies listed in the DAX Prime Standard between 2007 and 2018. The poster I submitted shows that deferred taxes help forecast the development of the market value of equity up to two years in advance. Deferred tax assets as probable future tax repayments contribute positively to the company value and therefore to the market value, and deferred tax liabilities as probable future tax payments contribute negatively to the company value and therefore to the market value. I can also prove that the supplementary reporting on deferred taxes is rated negatively by market participants. Possible reasons for this are the high complexity of the information and the lack of transferability of this information to balance sheet and income statement figures. Interview studies also show that trust in deferred taxes and the associated reporting is low, as stakeholders suspect that deferred taxes are at least partially used for accounting policy.

The dissertation, 'The information content of deferred tax items', examines the information content of deferred tax items. Technically, deferred taxes are assets or liabilities that arise from temporary differences between the carrying amount of an asset or liability in the financial statements and its tax base. Their recognition intends to record the future tax consequences of these differences. To investigate the information content of deferred tax items, this dissertation uses the systematic literature review methodology (research paper 1) and empirical analyses (research papers 2; 3). The research paper, 'Financial accounting for deferred taxes: A systematic review of empirical evidence', identifies, systematizes, and evaluates the state of the art with the goal of synthesizing evidence on the value relevance of deferred taxes, their use to manage earnings and their ability to identify earnings management. The empirical analyses are based on these findings and evaluate 1.5 thousand German IFRS financial statements. They examine the value relevance of deferred tax items and related disclosures under IAS 12 ('The value relevance of deferred taxes and related disclosures under IAS 12'), as well as the relationship between individual components of deferred taxes and future tax cash flows ('Deferred taxes under IFRS: Which components predict future tax cash flows'). The results of the publications show that deferred tax items have significant information content for capital providers, as they subsume information about future tax cash flows and the performance of an entity. Their information content depends on several factors. These are the association of individual deferred tax components with future tax cash flows, private information signaled by deferred tax items and disclosures, and the suspicion that specific deferred tax items identify earnings management or are used to manage earnings. So, this dissertation makes an important contribution to a deeper understanding of the information content of deferred tax items and related disclosures. Each publication has developed methodological and content-driven novelties to contribute comprehensively to previous research. Due to the considerable size of the underlying database, the results of this dissertation are of statistical relevance.

The main objective of the final thesis is to emphasise the transformation of financial statements prepared according to Czech accounting legislation to financial statements prepared in accordance with International Financial Reporting Standards. There are two parts in the final thesis. The first part describes a complete set of financial statements, prepared in accordance with International Financial Reporting Standards, it is an obligatory part of the financial statements - Statement of financial position, Statement of comprehensive income, Statement of changes in equity, Statement of cash flows, summary of significant accounting policies, and other explanatory notes. The second part of the final thesis deals with an accuracy of the transfer Leases, Provisions and Deferred Taxes on Czech accounting legislation to International Financial Reporting Standards.