The thesis is focused on using fair value in accounting in the context of other metods of measurement. There is summarized the application of fair value in Czech Republic and in IAS/IFRS. At the end of this thesis is discussed about presentation of the statements, if the fair value is applicated, next about latent pensions and about gains and losses and push-down effect.

This dissertation examines the powerful role that museums played in constructing national art-historical narratives during the 1930s. By concentrating on Three Centuries of American Art—the 1938 exhibition organized by the Museum of Modern Art (MoMA) for viewing in Paris—I argue that the intertwining of art, political diplomacy, and canon formation uncovered by an analysis of the exhibition reveals American art’s unique role in supporting shared 1930s cultural ideologies. MoMA’s curators created the most comprehensive exhibition to date of the history of American art with works from 1590 through 1938, and with over five hundred architectural models, drawings, films, paintings, photographs, prints, sculptures, and vernacular artworks. With World War II on the horizon, these artworks took on new meaning as the embodiment of the United States. Adding complexity to notions of display, five chapters trace in chronological order how curators, politicians, journalists and art critics reimagined American art in the display, canonization, and reception of Three Centuries of American Art. Chapter 1 gives a synopsis of the exhibition, places it within the larger discourse of American art exhibitions in Paris, and documents how American and French relations developed during this pivotal time. Chapter 2 explores the different meanings ascribed to the artworks during loan negotiations and maps the works’ transportation to Paris. Chapter 3 elaborates on the notion of a unified American art in the 1930s by examining the histories of art created by each of MoMA’s departments. Chapter 4 offers the first substantive historiography of 1930s publications that examined American art across media to determine instances when MoMA curators echoed prior histories and when they deviated from them at a moment when scholars disputed the merit of such disciplinary histories. Chapter 5 grapples with the means by which audiences first learned about Three Centuries of American Art and unearths what American and international critics wrote about the exhibition. In sum, Three Centuries of American Art provides a model to understand how MoMA curators inserted their histories of American art into the emerging art historical discourse and how government agencies invested them with political meaning during the critical interwar period. / 2018-08-11T00:00:00Z

A research report submitted in partial fulfilment of the degree of Masters of Commerce in Accounting 2016. / This paper explores the logics of resistance to fair value accounting, which entails the motivations to resist, as well as the mechanisms of resistance. It applies an interpretive approach to investigate this, using data collected from interviews with a sample of South African accounting professionals. The study demonstrates that while fair value accounting is being applied in the financial statements of organisations from a legalistic perspective, the application is superficial and ceremonious due to an established culture of compliance, and the need for funding, which engenders a ‘tick the box’ approach. The superficiality of application is complimented with a range of motivations to resist IFRS 13, which stem from practical concerns as well as theoretical, to create for a resistant attitude to fair value accounting. This resistance has been evidenced in this study, to manifest in various mechanisms that can be employed to avoid fair value accounting. These mechanisms are indicative of decoupling since they involve gaps being created between the purpose of financial statements, and the financial statements prepared, without blatant disregard of fair value accounting principles. These findings have been used to formulate recommendations which may be useful for preparers of financial statements, auditors and standard setters alike. While the aim of the study is not to identify deficiencies of fair value accounting principles, the consequence of exploring logics of resistance to fair value accounting is that it highlights areas that require further assessment in order to achieve the objectives of standards. / MT2017

This dissertation focuses on the principle of good faith and on the principle of good faith and fair dealing. The differences between the two mentioned principles and the problems with terminology are covered. The author suggests and reasons for her own terminological solution. Furthermore, the dissertation discusses on the general delimitation of the two principles, their content and relation to other related principles. Moreover, it focuses on the legal frame of good faith and good faith and fair dealing principles including historical and comparative aspects of the issue. The author of the dissertation describes the practical impact of the two principles in question and compares the recent and current legal regulation. She analyses the practical impact of the principles of good faith and good faith and fair dealing in commercial relations: not only in the business contractual law but also in the life of a business corporation. Furthermore, the relevant judicature is covered including the delimitation of its possible applicability on the current legal regulation.

Este trabalho se baseia na teoria de escolhas contábeis, pautadas nas premissas: (i) eficiência de contratos; (ii) assimetria de informação e (iii) comportamento oportunista (Holthausen, 1990). A adoção inicial do IAS40/CPC 28 - Propriedades para Investimento permite a escolha do método de custo ou valor justo para mensuração. Foi utilizada uma amostra de 36 empresas abertas que possuíam propriedades para investimento cujo método de avaliação foi divulgado no ano de 2010. O método de mensuração é a variável dependente, uma dummy para escolha do custo ou valor justo. As variáveis independentes analisadas foram: Tamanho; Endividamento; Proporção de Propriedades para Investimento com relação ao Ativo Total; (ROE) Return on Equity, e Lucro Líquido. Através de uma Regressão Logit no software Stata® avaliaram-se quais variáveis são mais influentes na escolha contábil. O achado mais relevante foi a proxy para tamanho de que os custos políticos reduzem a probabilidade de utilizar o valor justo, considerando um nível de significância estatística de 5%. As variáveis constituem-se em: Endividamento, Proporção de Propriedades para Investimento com relação ao Ativo Total e Lucro Líquido, sendo explicativas para escolha do valor justo, considerado um nível de significância estatística de 10%. A variável ROE (returno n equity) não se mostrou significativa. Considerando o ponto de corte (cutoff) de 0,5, o percentual de acerto do modelo foi de 88,89%, ou seja, das 36 observações, 32 foram classificadas corretamente. Por fim, em termos normativos o estudo pode servir aos órgãos reguladores, pois em 2010, das 75 empresas que apresentavam propriedades para investimentos nos balanços, somente 24 sequer mencionaram a forma de avaliação. / This study is based on accounting choice theory, which premises are: (i) contractual efficiency; (ii) information asymmetry and (iii) managerial opportunism reasons could determinate the choice. At the first time adoption for IAS 40 - Investment Properties which allow the choice between fair value or cost model for evaluation. It was used a sample of 36 listed companies which disclosure the evaluation method for 2010. A dummy was used as dependent variable for the choice between cost or fair value model and the independents variable are: Size; Leverage; Rate of Investment Properties against Total of Assets; Return on Equity and Income. Using a logit regression on software Stata® evaluates which variable more influence in the accounting choice. The most relevant finding is the proxy size which political costs decrease the possibility to use fair value, for 5% of statistical significance. Ther variables are: Leverage, Rate of Investment Properties against Total of Assets, that are relevant for choosing fair value, for 10% of statistical significance. The variable ROE is not significant. With a cutoff as 0,5 the percentage of accuracy for the model is 88,89%, which means 36 observations, 32 are correctly classified. In the end, in a normative way, this study may help the accountant setters. In 2010, for 75 listed companies which has investment properties in their financial report only 24 companies not even mention the evaluation method.

Uma crítica que corrobora a não convergência entre o Financial Accounting Standards Board (FASB) e o International Accounting Standards Board (IASB) baseia-se na discordância quanto a mensuração a valor justo de alguns tipos de instrumentos financeiros, pois argumenta-se que essa prática pode aferir volatilidade aos resultados das empresas, o que impactaria o desempenho de suas ações no mercado de capitais. Assim, o presente trabalho propõe-se a verificar se a adoção das International Financial Reporting Standards (IFRS) no tocante a mensuração e reconhecimento dos instrumentos financeiros, mais especificamente para o grupo classificado em \"Ativos e Passivos Financeiros Mensurados a Valor Justo por meio do Resultado\", levou a uma maior volatilidade dos resultados contábeis. Para isso, optou-se por analisar o caso brasileiro, porque tal país passou pelo processo de Full Adoption das IFRS. Desse modo, adotou-se testes estatísticos que analisaram a diferença entre as variâncias dos lucros líquidos que consideram instrumentos financeiros avaliados a valor justo e a custo histórico amortizado, no período entre 2010 e 2016, das empresas brasileiras de capital aberto não financeiras e bancos com maior Presença em Bolsa. Após analisar o efeito dos ganhos e perdas não realizados, oriundos do ajuste a valor justo, de instrumentos financeiros sob o resultado, constatou-se uma tendência a suavização, redução da volatilidade, dos lucros líquidos, tanto para a amostra de empresas não-financeiras quanto para a de bancos, e não de aumento da volatilidade como era argumentado por alguns críticos a adoção do valor justo. Com base nas análises da amostra de empresas não-financeiras, o reconhecimento do ajuste a valor justo de instrumentos financeiros no resultado afetou significativamente a volatilidade do resultado contábil, contudo, segundo essas analises não se pode afirmar quanto ao efeito desse impacto, se houve propensão ao aumento da volatilidade ou a suavização dos lucros. Ao realizar as análises descritivas dessa amostra, observou-se um efeito de suavização na média, uma vez que o desvio-padrão do lucro líquido que considera instrumentos financeiros avaliados a valor justo apresentou uma média e um desvio-padrão inferiores ao do desvio-padrão do lucro líquido que os considera a custo histórico. Já as análises da amostra de bancos evidenciaram que o reconhecimento do ajuste a valor justo de instrumentos financeiros no resultado tendeu a reduzir significativamente a volatilidade, observando-se em média uma suavização do resultado contábil. Essa tendência a redução da volatilidade pode ser advinda de: gestões de risco responsáveis; uso de instrumentos financeiros, predominante, para fins de hedge; uma provável escassez do uso da classificação de \"instrumentos financeiros avaliados a valor justo por meio do resultado\"; ou, gestões que realizem escolhas do tipo \"cherry-pincking\". Inclusive, um dos modelos aplicados identificou, em ambas amostras, indícios da realização da prática de \"cherry-pincking\", um tipo de gerenciamento de resultado baseado em escolhas operacionais vantajosas e oportunistas que têm consequências na classificação contábil. Além disso, tal tendência a redução da volatilidade pode apresentar um impacto positivo na avaliação dessas empresas pelo mercado de capitais e por seus credores, já que tais usuários primários da informação contábil apresentam uma preferência por lucros consistentes ao longo do tempo, devido a sua aversão ao risco / One of the criticisms that supports the non-convergence between the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) is based on disagreement with the measurement at fair value of certain types of financial instruments, because it is argued that this practice can measure volatility to earnings, which would impact the performance of its shares in the capital market. Thus, this study aims to verify whether the adoption of standards International Financial Reporting Standards (IFRS) regarding the measurement and recognition of financial instruments, specifically for the group classified as \"Financial Asset or Financial Liability at Fair Value through Profit or Loss\" or \"Held for Trading\", caused greater volatility of earnings. For this, we chose to analyze the Brazilian case, because that country passed through the Full Adoption of IFRS process. Accordingly, it adopted statistical tests that analyzes the difference between the variances of the net incomes that consider financial instruments measured at fair value and amortized historical cost of Brazilian publicly traded non-financial companies and banks, with a greater Presence on the Stock Market, during the period between 2010 and 2016. After analyzing the effect of the unrealized gain and loss, resulting from the adjustment to fair value, of financial instruments recognized in net income, there was a tendency to income smoothing, reduce volatility, both for non-financial companies and for banks, rather than increased volatility as some critics argued the adoption of fair value. Based on the analysis of the non-financial companies sample, the recognition of the fair value adjustment of financial instruments in the result significantly affected the volatility of the accounting profit, however, according to these analyzes, it cannot be stated as to the effect of this impact, if there was a trend increasing volatility or smoothing profits. When conducting the descriptive analyzes of this sample, a smoothing effect was observed in the mean, since the standard deviation of the net profit that considers financial instruments evaluated at fair value presented a mean and a standard deviation lower than the standard deviation of the net profit that considers them at historical cost. The analysis of the banks sample showed that the recognition of the adjustment to fair value of financial instruments in the result tended to significantly reduce the volatility, observing, on average, a smoothing of the accounting profit. This trend to reduce volatility can be derived from: responsible risk management; use of financial instruments predominantly for hedge purposes; a probable shortfall in the use of the classification of \"financial instruments measured at fair value through profit or loss\"; or, cherry-pincking choices. In addition, one of the applied models identified, in both samples, indications of the practice of cherry-pincking, a type of result management based on advantageous and opportunistic operational choices that have consequences in accounting assignment. Furthermore, this trend of reducing volatilitymay have a positive impact on the valuation of these companies by the stock markets and by their creditors, since such primary users of accounting information show a preference for consistent profits over time due to their risk aversion

A utilização do valor justo, na avaliação de ativos biológicos, decorrentes da adoção de padrões internacionais de contabilidade, tem provocado efeitos econômicos significativos sobre o valor das empresas e, consequentemente, nos seus resultados correntes e futuros. Dessa maneira, este trabalho tem como objetivo analisar se os usuários da informação contábil reconhecem a relevância do uso do valor justo na mensuração de ativos biológicos. Por meio de experimentos com alunos de MBA, sob a perspectiva da Teoria do Pensamento Contrafactual, foram considerados os seguintes estímulos sobre o julgamento da relevância do uso do valor justo para ativos biológicos: (i) se o resultado (perdas ou ganhos) decorrentes da avaliação a valor justo, (ii) se o tipo de ativo biológico (com ou sem liquidez) e (iii) se a decisão gerencial (manter o ativo até o vencimento ou disponibilizar para a venda) interferem no julgamento da relevância do uso do valor justo. Os resultados apontam que, mesmo com a presença dessas variáveis, o uso do valor justo é relevante para mensuração dos ativos biológicos. / The use of fair value in the measurement of biological assets resulting from the adoption of international accounting standards, has caused significant economic effect on the value of firms and hence on their current and future results. Thus, this study aims to examine whether users of accounting information recognize the relevance of the use of fair value measurement of biological assets. Through experiments with MBA students from the perspective of the Theory of Counterfactual Thinking, we considered the following stimuli on the trial of the relevance of the use of the fair value of biological assets: (i) if the result (gain or loss) arising from measurement at fair value, (ii) the type of biological assets (with or without liquid) and (iii) if the decision management (maintaining the asset to maturity or available for sale) interfere with the judgment of the relevance of the use of value fair. The results show that, even with the presence of these variables, the use of fair value is relevant for measurement of biological assets.

L’enjeu de tout procès pénal est de garantir l’équilibre entre deux intérêts opposés et sacrés : d’une part, la protection de l’ordre public, qui n’est autre que l'intérêt général de la société, et d’autre part, l'intérêt de la personne se trouvant dans les mailles d’un procès pénal, qui exige la certitude d’exercer ses droits de la défense contre l’arbitraire et les abus de l’appareil judiciaire. La sauvegarde de cet équilibre par l'établissement de normes législatives et des mécanismes judiciaires internationaux et nationaux, s’est vue imposer une approche protectrice des droits de l’individu aux prises avec l’appareil juridictionnel afin de déterminer son innocence ou sa culpabilité. En effet, la présomption d’innocence est une supposition fondée sur des signes de vraisemblance ou encore une anticipation sur ce qui n’est pas prouvé, ce qui interdit à toute juridiction de déclarer une personne coupable des faits qu’ils lui sont reprochés tant qu’elle n’a pas été déclarée coupable par celle-ci. Alors que, la présomption de culpabilité est une exception fixée par le législateur ou par la jurisprudence, par opposition au principe de présomption d’innocence, dont la consécration est supralégislative, comme étant une garantie issue du droit à un procès équitable. C’est un devoir de prudence qui s'impose, face à un nouvel ordre mondial caractérisé par une nouvelle forme de criminalité, en particulier le terrorisme, dont la lutte se manifeste par des conventions internationales et régionales sous l’égide de l’ONU, en mettent en place une stratégie fragmentée et sectorielle contre les crimes associés au terrorisme. Or, si le mécanisme de la présomption de culpabilité semble prendre le dessus sur la légalité, la légitimité et la sagesse du principe de présomption d’innocence, sous l’impulsion d’une nouvelle doctrine qui émerge en l’occurrence le ‘’ droit pénal de l’ennemi ‘’ au nom de la lutte contre le terrorisme, le respect des droits de la défense demeure le gardien absolu contre toute dérive et arbitraire judiciaire. Il s’agit ainsi de concilier lutte efficace contre le terrorisme et respect des droits et libertés fondamentales. Ceci étant, les présomptions (d’innocence ou de culpabilité), constituent un thème audacieux dans la mesure où elles incitent à confronter des débats doctrinaux contemporains à l’une des sources du droit pénal et du droit procédural. Ce modeste travail a trait d’un principe de droit universellement reconnu à savoir : la présomption d'innocence, d’où l’intérêt est de savoir à quel point la lutte contre le terrorisme et la protection de la présomption d’innocence, qui sont soumis à une procédure régulière et spéciale, peuvent être homogènes. / The aim of any penal procedure is to guarantee the balance between two opposing and sacred interests: on the one hand, the protection of public order, which is not other than the general interest of society, and on the other hand, the interest of the person in the meshes of a criminal trial, which requires the certainty of exercising his rights of defense against the arbitrariness and abuses of the judicial system. Safeguarding this balance through the establishment of international and national legal norms and judicial mechanisms, has been imposed a protective approach to the rights of the individual struggling with the jurisdictional apparatus to determine his innocence or guilt. In fact, the presumption of innocence is an assumption based on signs of likelihood or an anticipation of what is not proven, which prohibits any jurisdiction from declaring a person guilty of the facts he is accused of so much that he was not convicted yet whereas the presumption of guilt is an exception set by the legislator or by the case law, as opposed to the principle of presumption of innocence, whose consecration is supra-legislative, as being a guarantee resulting from the right to a fair trial. It is an obligation of caution that is needed in a new world order characterized by a new form of crime, especially terrorism, whose fight is manifested in international and regional conventions under the auspices of the United Nations which implements a fragmented sectorial strategy against crimes associated with terrorism. Therefore, if the mechanism of the presumption of guilt seems to override the legality, legitimacy and wisdom of the principle of presumption of innocence, under the impulse of a new doctrine that emerges in this case the "right" criminal of the enemy '' in the name of the fight against terrorism, respect for the rights of the defense remains the absolute guard against any arbitrary judicial drift. It is thus a question of reconciling effective fight against terrorism with respect for fundamental rights and freedoms. That being said, the presumptions (of innocence or guilt) are a daring theme insofar as they incite to confront contemporary doctrinal debates in the light of the sources of penal law and procedural law. This modest work deals with a universally recognized principle of law: namely, the presumption of innocence, hence the interest in knowing how much the fight against terrorism and the protection of the presumption of innocence, which are subject to a regular and special procedure, may be homogeneous.

O objetivo da tese é analisar como Santo Agostinho justifica a guerra justa no âmbito da doutrina cristã da ordem e da paz, destacando a relevância de seus argumentos e comparando-os com a tradição filosófica posterior, principalmente Michael Walzer. Pretende-se ver as considerações de Santo Agostinho acerca das seguintes questões: dado que os conflitos e guerras são fenômenos constantes nas sociedades humanas, é possível haver uma guerra justa? Como pode ser fundamentado um direito à guerra? É possível encontrar um fundamento moral racional para a guerra ou ela está sempre fundamentada em paixões e interesses, ambições de poder e ideologias religiosas, políticas ou metafísicas? A tese é que para Santo Agostinho a guerra é justa quando feita para assegurar a ordem e a paz conforme a normatividade da cidade de Deus. O que se pretende mostrar é que as razões ―morais‖ (teológicas) apresentadas por Santo Agostinho para justificar a guerra justa tinham também como objetivo atender as estratégias do jogo de poder dentro do mundo cristão com a finalidade de ampliar o poder material, político e espiritual dos representantes da Santa Sé. Além disso, o Estado não tem nada de diabólico, antes pelo contrário, é necessário e útil, como instituição moral capaz de controlar a maldade humana. / The thesis seeks to analyze how Saint Augustine justifies the fair war within the Christian order and peace doctrine, highlighting the relevance of his arguments and comparing them to the later philosophical tradition, especially Michael Walzer ideas. The objective is to study the considerations of Saint Augustine aiming on the following questions: since conflicts and wars are constant phenomena in human societies, is a fair war possible? How can a right to war be justified? Is it possible to find a rational moral basis for a war? Are the motivations for it always based on passions, interests, and power ambitions or even religious, political or metaphysical ideologies? The thesis is that for Saint Augustine war is fair when it is made to ensure order and peace according to the normativity of the city of God. The intention of this research is to show that the "moral" (theological) reasons presented by Saint Augustine to justify the fair war were also supposed to encourage the power game strategies within the Christian world in order to expand the material, political and spiritual of the Holy Faith followers. In addition, the State is not diabolic, it is the opposite, being necessary and useful, as a moral institution capable of controlling human wickedness.

O objetivo principal desta dissertação foi estudar as relações dos valores de mercado, dos patrimônios líquidos contábeis e da utilização do valor justo como base única de mensuração para ativos e passivos financeiros nos bancos listados em três importantes bolsas de valores que requerem ou permitem o arquivamento de demonstrações financeiras no padrão IFRS, a BM&FBOVESPA, a LSE e a Euronext. Mais precisamente, sob três pontos: (i) se o uso de uma contabilidade plena ao valor justo torna os patrimônios contábeis próximos dos valores de mercado das instituições; (ii) se as empresas que se utilizam em maior extensão do valor justo como base de mensuração apresentam patrimônios contábeis mais próximos ao valor de mercado e (iii) se os lucros líquidos e resultados abrangentes totais das entidades seriam significativamente diferentes caso fosse utilizada a contabilidade plena ao valor justo. As análises foram efetuadas tomando a amostra conjuntamente, segregada por bolsa e também por porte a um nível de significância (?) de 5%. O procedimento estatístico utilizado foi o de confecção de Testes de Hipóteses de Médias para Amostras Emparelhadas (t-Student ou Wilcoxon). Os resultados apontam que: (i) o uso do valor justo como base de mensuração única aproxima os valores contábeis dos patrimônios de seus pares de mercado, porém sem significância estatística; (ii) tanto as instituições que usam em maior extensão o valor justo quanto aquelas que se utilizam em menor nível apresentam patrimônios contábeis significativamente diferentes de seus respectivos valores de mercado e (iii) o uso do valor justo como base única de mensuração não altera significativamente os valores dos lucros líquidos e resultados abrangentes totais contábeis. / The main objective of this dissertation was to study the relations between the market values, the accounting equities and the use of the fair value as the single measurement basis for financial assets and liabilities for the banks listed at three important stocks exchanges that require or allow the filling of the financial statements in the IFRS standard, the BM&FBOVESPA, the LSE and the Euronext. More specifically on three points: (i) if the use of the full fair value accounting make the accounting equities closer to the institutions\' market values; (ii) if the enterprises that use in higher extension the fair value as measurement basis presents accounting equities closer to the market values and (iii) if the entities\' net income and total comprehensive income would be significantly different if it was used the full fair value accounting. The analysis were carried out taking the sample in conjunction, segregated by stock exchange and also by size at a significance level (?) of 5%. The statistical procedure used was the making of the Hypothesis Tests for Means of Matched Samples (t-Student or Wilcoxon).The results show that: (i) the use of fair value as the single measurement basis approximates the accounting values of the equities to their market peers, but without statistical significance; (ii) both the institutions that use fair value in higher extension and those that use in lesser level present accounting equities significantly different from their respective market values and (iii) the use of fair value as the single measurement basis does not change significantly the values of the net income and the total comprehensive income.