Este trabalho tem como objetivo analisar o impacto da convergência às normas internacionais de contabilidade sobre a qualidade preditiva da informação contábil no Brasil. Particularmente, o estudo verifica o impacto da adoção do padrão International Financial Reporting Standards (IFRS) sobre: i) a acurácia das estimativas de lucro realizadas pelos analistas de mercado e ii) a dispersão dessas estimativas de lucro, além de verificar o comportamento do viés de previsão. Os dados da pesquisa foram extraídos da base Institutional Brokers Estimate System (I/B/E/S) e dos formulários de referência das empresas, no site da Comissão de Valores Mobiliários (CVM), no período de 2006 a 2012. A metodologia utilizada foi a de análise de dados em painel, com estimação de modelos de efeitos fixos e aleatórios. Para adequação dos modelos, foram utilizadas variáveis de controle comumente empregadas na literatura internacional, além de variáveis de ajuste para caso brasileiro. Os resultados do trabalho indicam que a adoção do padrão IFRS no Brasil ainda não contribuiu para melhora da qualidade preditiva da informação contábil, embora o viés de previsão tenha diminuído. A acurácia dos analistas de mercado diminuiu no período de adoção parcial do IFRS no Brasil e, no período de adoção obrigatória, as evidências encontradas não permitem concluir sobre a melhora da acurácia dos analistas. A dispersão das estimativas dos analistas de mercado aumentou no período de adoção parcial do IFRS e, no período de adoção obrigatória, não se verificou alteração no nível da mesma. Estes resultados contrariam as evidências dos estudos para a Europa e Austrália, as quais indicam elevação da qualidade preditiva das informações. Porém, assemelham-se aos resultados encontrados para o período inicial da adoção do padrão IFRS na Alemanha. A explicação para os resultados obtidos podem estar relacionadas (i) ao método de adoção do IFRS no Brasil - que incluiu um período de adoção parcial - diferentemente de outros países; e (ii) à necessidade de um tempo de aprendizado para as empresas e analistas de mercado, haja vista as alterações ainda serem recentes. Considera-se que o estudo contribui para a literatura de análise do impacto do padrão IFRS na qualidade preditiva da informação contábil no Brasil, podendo colaborar para as decisões de normatizadores sobre futuras alterações nos padrões contábeis brasileiros e auxiliar as decisões de investidores e analistas no mercado de capitais. / This study aims to analyze the impact of the adoption of International Financial Reporting Standards (IFRS) on the predictive quality of accounting information in Brazil. In particular, the study investigates the impact of the IFRS adoption on i) the accuracy of the profit forecasting by market analysts, and ii) the dispersion of these estimates, besides verifying the forecast bias. The data was extracted from the base of Institutional Brokers Estimate System (I\\/B\\E\\S) and from the forms of companies, on the website of Securities and Exchange Commission of Brazil (CVM) between 2006 and 2012. The empirical strategy employed involves the analysis of panel data and estimation of fixed-effects and random-effects models, considering control variables commonly found in international literature and specific variables for Brazilian reality. The results indicate that IFRS adoption in Brazil has not contributed to improve the predictive quality of accounting information, although the forecast bias has decreased. The forecasts accuracy decreases during the period of partial adoption of IFRS in Brazil and, for the period of mandatory adoption, this study has not found conclusive evidences about accuracy of analysts\' forecasts. Moreover, the dispersion of estimates has increased in the period of partial adoption of IFRS, however no evidence was found for the mandatory adoption period. These results are contrary to the evidences for the European and Australian cases, which suggest improvement of accounting information. Nevertheless, the results resemble the evidences encountered in Germany, particularly for the initial period of IFRS adoption. The results provided might be related (i) to the method of adoption in Brazil - which includes partial and mandatory adoption periods; and (ii) need for a time of learning period for companies and market analysts, considering the requirements are still recent. We believe that this study contributes to the literature that analyzes the impact of IFRS on the predictive quality of accounting information in Brazil. Also, might contribute to the standard-setting decisions on future changes in Brazilian accounting standards and assist the decisions of investors and research analysts.

Made available in DSpace on 2016-04-25T18:40:01Z (GMT). No. of bitstreams: 1 Sergio Securato.pdf: 3132118 bytes, checksum: 5f76d8e04af69fc3e0e9b479773cffff (MD5) Previous issue date: 2014-06-30 / The migration of Brazilian financial statements to international standards has been a major challenge due to cultural change of the two models. It is the migration of a model that has always suffered strong regulatory influence and is based on defined rules for a model based on principles, judgment and economic substance of transactions. In Brazil the CPC is the committee responsible for directing the Brazilian accounting standards to international standards set by the IASB through IFRS. Given the recommendations of the technical pronouncement CPC 12, which deals with the adjustment to present value, we seek to address in this thesis the concept of fair value and market value, understanding that we can define a hierarchy for fair value calculus, where we prioritize observable market values. When we don t have an available market, it is recommended to use a model for the definition of the risk premium that can generate information, to the extent possible, to replicate the market behavior. In this way, this study assessed based on the risk premium initially defined, the use of a model that can provide this award during the life of the transaction, thus allowing the creation of a interest rate structure that will help in assessing the fair value of financial fixed income assets and liabilities when there is no active market / A migração das demonstrações contábeis brasileiras para os padrões internacionais tem sido um grande desafio devido à mudança cultural que os dois modelos provocam. Trata-se da migração de um modelo que sempre sofreu forte influência regulatória e é baseado em regras definidas para um modelo apoiado em princípios, no julgamento e no fundamento econômico das operações. No Brasil o CPC é o comitê responsável por direcionar as normas da contabilidade brasileira aos padrões internacionais definidos pelo IASB, por meio dos IFRS. Diante das recomendações do pronunciamento técnico 12 do CPC, que trata o ajuste a valor presente, procuramos neste trabalho abordar o conceito de valor justo e valor de mercado, entendendo que podemos definir uma hierarquia para o cálculo do valor justo, em que priorizamos os valores observáveis no mercado. Quando não temos um mercado disponível, no entanto, é recomendada a utilização de um modelo para a definição do prêmio pelo risco que possa gerar uma informação, na medida do possível, que replique o comportamento do mercado. Nesse sentido, este trabalho procura avaliar, com base no prêmio pelo risco definido inicialmente, a utilização de um modelo que possa fornecer esse prêmio no decorrer da vida da operação, permitindo, dessa forma, a criação de uma estrutura temporal de taxa de juros que possa contribuir na avaliação a valor justo de ativos e passivos financeiros de renda fixa, quando não há um mercado ativo

Notre recherche vise à décrire les liens entre l’appropriation des IFRS et les dimensions organisationnelles et managériales des services comptables. Nous avons situé ces deux axes dans l’activité productive des acteurs en mobilisant la théorie socio-économique et la théorie d’agence, afin d’ancrer les IFRS dans le comportement des acteurs et dans l’organisation des entités. A partir d’une recherche-action inscrite dans nos activités d’expert-comptable et de commissaire aux comptes, nous avons identifié trois principes directeurs de réorganisation des activités comptables : ajustement, traitement et distanciation. En associant ces principes aux opérations de la chaîne comptable, nous avons mis en évidence trois niveaux de configuration organisationnelle : organisation ad’hoc, prégnance de la fonction comptable, fonction décentralisée. Dans les deux premiers niveaux, la présence d’une relation de collaboration entre acteurs a pu être observée, alors qu’elle est pratiquement inexistante au niveau de la fonction décentralisée. / The aim of our research is to describe the links between IFRS appropriation and the organization and management structures of the accounting departments. We positioned these two axes within the productive activities of stakeholders thanks to the use of both Socio-Economic and Agency Theories in order to connect IFRS with the stakeholders behaviors and with the organizations of firms.Through action research by virtue of our Chartered Accountant and Statutory Auditor positions we isolated three guidelines of accounting practices reorganizations: Adjustment, Treatment, and Distance analysis. The combination of these guidelines with the accounting process led us to emphasize three levels of organizational structures: Ad hoc Organization, Accounting Prevalence structure, and Decentralized Administration. In the two first organization levels a cooperation behavior has been observed between stakeholders, whereas in the Decentralized structure practically no collaboration has been recorded.

O mundo transforma-se constantemente, assim como tudo o que nele está inserido. A evolução da economia possibilitou uma maior integração do mercado financeiro, tornando o ambiente de negócios único e global. É cada vez mais comum o ingresso de recursos estrangeiros nos mercados de capitais nacionais, bem como fusões e aquisições entre companhias de países distintos e com características próprias. Essas empresas, por sua vez, esforçam-se em adotar normas que atendam aos stakeholders, sem perder a obrigatoriedade de apresentar suas demonstrações contábeis em conformidade com as características do país em que estão sediadas. Com a unificação dos países da Europa em um único bloco econômico, vislumbrou-se a possibilidade de desenvolver normas que pudessem ser compreendidas e interpretadas pelos diversos usuários destas demonstrações contábeis, em qualquer lugar do globo. Assim criadas, as normas de IFRS International Financial Reporting Standards buscaram a redução de diferenças nas metodologias contábeis e na forma com que são divulgadas em cada país, permitindo a comparabilidade e evidenciação das informações ao mercado. O IFRS, atualmente, já é adotado por mais de 100 países no mundo. No Brasil, em 28 de dezembro de 2007, promulgou-se a Lei 11.638 eliminando barreiras regulatórias que impediam a inserção total das empresas brasileiras no processo de convergência contábil internacional e aproximando sua legislação referente às normas contábeis às do mundo globalizado. O objeto do presente estudo é apresentar as principais mudanças decorrentes dessa adoção e seus impactos na contabilidade das empresas brasileiras, tomando como exemplo a empresa Vale, multinacional brasileira com alto volume diário de negociações de suas ações em Bolsa de Valores, grande parte de investidores estrangeiros. Os assuntos controversos, definições e entendimentos que ainda serão deliberados até 2010, evidenciam que não houve tempo hábil para a discussão e preparação das empresas, do fisco, de profissionais do mundo empresarial e acadêmico, dos contadores e auditores, bem como dos órgãos reguladores. Apesar das aparentes dificuldades, o Brasil deu um grande salto na qualidade das informações prestadas e aproxima-se dos grandes investidores globais, capacitando-se para receber recursos que possibilitem o seu crescimento econômico e o seu papel no cenário mundial. / The world is in constant change, as well as all the thinks within. The evolution of economy has enabled a better integration of the business market, making the business environment single and global. It is more and more usual the income of foreign resources at the national capital markets as well as the fusion and acquisitions between companies from different countries and with its own characteristics. These companies, by their own initiative, try to adopt rules to attend their stakeholders demands, without missing the demands to present the financial statements in accordance with the demands of the countries where they are based. With the unification the European countries in a single economical organization, was identified the possibility to develop rules which could be interpreted and understood by all the countries of the financial statements anywhere in the globe. As a consequence, the IFRS International Financial Reporting Standards where created aiming the reduction of the differences of among the methodologies and the way the financial statements are issued on every country, allowing the comparability and evidence of the information among the markets. The IFRS is adopted on more of 100 countries of the world. On the 28th of December, 2008, Brazil has published the Law 11.638 eliminating the regulation barriers stopping brazilian companies to participate on the International process of account convergence and adapting the countrys legislation and rules to the account globalized world. The objective of the present study is to present the main changes resulting from the adoption of the IRFS and the impacts on Brazilian companies account, having the mining company Vale as an example. Vale is a Brazilian multinational company with high value of negotiation on stock marketing, in majority by foreigners funds. Besides the controversy generated, the definitions and agreements predicted for 2010, are an evidence of the lack of time for discussion and preparation of companies, government treasury department, general professionals, accountant and auditors as well as regulating agencies. Apart from all the difficulties, Brazil has given a large step to increase the quality of the financial information published and is closer to the large global enterprises, facilitating the income of resources to enable the internal economic growth and it world scenario relevance.

Thesis deals with harmonization of financial reporting in the area of insurance contracts. IFRS 4 phase I adjusts reporting of insurance contracts, defines a term insurance contract, bans generating catastrophe provisions or equalisation provisions, show a new view at reporting of insurance contract with discretionary participation feature and at reporting embedded derivates.IFRS 4 phase II solves complex reporting of insurance contracts. The aim is to achieve "real" measurement of liabilities arising from insurance contracts. The thesis shows a measurement model form exposure draft.

<p>Allt sedan 2005 skall svenska bolag noterade på börsen upprätta sin redovisning enligt International Financial Reporting Standards, IFRS/IAS. Innan införandet av standarden redovisades förvaltningsfastigheter enbart i balansräkningen och till anskaffningsvärde med avdrag för värdeminskningar. Den nya standarden innebär dock att värdering och värdeförändring numer skall tas upp till verkligt värde i balans- och resultaträkning.</p><p> </p><p>Redovisning och värdering till verkligt värde för dessvärre med sig en del komplikationer. Enligt teorin förutsätter metoden en perfekt och fullständig marknad, en marknadssituation som i realiteten aldrig uppstår. Samtidigt krävs, för att överhuvudtaget kunna genomföra en värdering, antaganden om marknadsutveckling och framtida kassaflöden. Enligt Ernst & Young tenderar sådana antaganden att påverka tillförlitligheten i den information som görs tillgänglig för utomstående intressenter.</p><p> </p><p>Med utgångspunkten i dessa problem vill vi med denna studie undersöka om värderingen av förvaltningsfastigheter återspeglar faktiska marknadspriser. I vår jakt på slutsatser i ämnet väljer vi därför att undersöka följande fem bolag närmare; Castellum, Fabege, Hufvudstaden, Kungsleden och Wallenstam.</p><p> </p><p>Vi baserar, i huvudsak, vår undersökning utifrån ett kvalitativt perspektiv. Bolagens årsredovisningar granskas och förklaras med hjälp av en jämförelse mot aktuellt fastighetsprisindex, utgivet av Statistiska centralbyrån. Som stöd för vår undersökning väljer vi även att diskutera vår analys och värderingen till verkligt värde med personal vid revisionsbyrån Deloitte.</p><p> </p><p>Det visar sig att det inte går att dra några generella slutsatser om värderingen och jämförelsen. Bolagens värdering till verkligt värde går inte att verifiera då den skiljer sig åt mellan varje enskilt objekt samt bygger på subjektiva antaganden om framtiden. En slutsats som bekräftas av genomförda intervjuer.</p>

<p>Innan år 2005 kunde svenska börsnoterade koncerner välja mellan att tillämpa internationella regler eller nationella regler för sin koncernredovisning. Efter år 2005 är däremot svenska börsnoterade företag ”tvingade” att använda internationella regler för upprättandet av finansi-ella rapporter. Studien syftar till att teoretiskt redogöra för de olika sätt som minoritetsintres-set redovisas på i svenska börsnoterade koncerners finansiella rapporter, innan respektive efter övergången till IFRS. Argument för olika tillvägagångssätt att redovisa minoritetsintres-set på har kartlagts, vägts och förklarats med avseende på vilket förhållande dessa argument har till varandra.</p><p>Inom koncernredovisningen finns två olika perspektiv som kan tillämpas vid upprättandet av en koncerns konsoliderade rapporter, vilka är moderföretagsperspektivet och enhetsperspektivet. Dessa två perspektiv härstammar från två teorier, ägarteorin och enhetsteorin. Sverige har traditionellt tillämpat ett moderföretagsperspektiv i sin redovisning, medan de internationella reglerna förespråkar ett enhetsperspektiv. Minoritetsintresset redovi-sas olika beroende på vilket perspektiv som används. Enligt moderföretagsperspektivet redovisas minoritetsintresset som en skuld och enligt enhetsperspektivet som eget kapital.</p> / <p>Before 2005, Swedish groups were allowed to choose between international or national rules for their group accounting. After 2005, Swedish groups listed on the stock exchange are forced to apply international rules for their group accounting. This study aims to describe different accounting treatment of a minority interest in Swedish groups financial reports, be-fore and after implementing IFRS. Standpoints for accounting the minority interest have been identified and explained.</p><p>There are two different perspectives that can be applied in the group accounting, and these are the proprietary perspective and the entity perspective. These perspectives derive from two theories, the proprietary theory and the entity theory. Traditionally, Sweden has applied the proprietary perspective, while the international rules advocate an entity perspective. Depend-ing on which perspective the group accounting follows, the minority interest will be accounted for in different ways. Eithe</p>

<p><strong>Bakgrund: </strong>När IFRS-regelverket blev tvingande för svenska börsföretag år 2005 fanns förhoppningar om att immateriella tillgångar och goodwill, som uppstod vid förvärv, skulle redovisas på ett mer transparent och jämförbart vis än tidigare. De studier som gjorts på området har dock visat att dessa förhoppningar inte har besannats fullt ut.</p><p><strong> </strong></p><p><strong>Syfte: </strong>Syftet med studien är att jämföra hur börsföretag identifierar och redovisar förvärvade immateriella tillgångar med de uppfattningar som finns hos företagens nyckelpersoner, angående samma tillgångar. Vidare syftar studien till att ge svar på varför eventuella skillnader, mellan sättet att redovisa och nyckelpersoners uppfattningar om immateriella tillgångar, förekommer.<strong> </strong></p><p><strong> </strong></p><p><strong>Metod: </strong>Studien har klassificerats som explorativ då den syftar till att undersöka ett relativt outforskat område. Kvalitativ metod har använts och data har samlats in genom intervjuer med både varumärkesnyckelpersoner och redovisningsnyckelpersoner på svenska börsföretag. Även årsredovisningar har använts som datamaterial.</p><p><strong> </strong></p><p><strong>Slutsatser: </strong>Det föreligger skillnader mellan varumärkesnyckelpersoners uppfattningar om företagens varumärken och den information som presenteras i företagens årsredovisningar. Mellan företagens varumärkesnyckelpersoner och redovisningsnyckelpersoner föreligger även skillnader i uppfattningarna om vad ett varumärke egentligen är. Kommunikationen mellan dessa har identifierats som en bidragande orsak till att varumärkesnyckelpersonernas uppfattningar om företagens varumärken skiljer sig från informationen som presenteras i årsredovisningarna.</p> / <p><strong>Background: </strong>When IFRS became mandatory for listed Swedish companies there were expectations that intangible assets and goodwill, deriving from business combinations, would be accounted for in a more transparent and comparable manner. Recent studies have shown that these expectations have not been entirely been fulfilled.</p><p><strong> </strong></p><p><strong>Aim: </strong>The purpose of this study is to compare how listed companies identify and report acquired intangible assets with the perceptions held by key personnel, concerning the assets. Furthermore, the study aims to provide answers to why any differences between the way of accounting and key personnel perceptions of intangible assets, are present.</p><p><strong> </strong></p><p><strong>Method: </strong>The study was classified as exploratory as it seeks to explore a relatively unexplored area. Qualitative methodology was used and data were collected through interviews with key personnel, both within brands and accounting. Financial statements have also been used as a data.</p><p><strong> </strong></p><p><strong>Results: </strong>There are differences between key brand personnels’ perceptions of the companies’ brands and the information presented in financial statements. There are also differences concerning what a brand really is, between key brand personnel and key accounting. The communication between these two kinds of key personnel has been identified as a contributing factor to why there are differences between the key brand personnels’ perception of brands and the information presented in the companies’ financial statements.</p>

<p><strong>Syfte:</strong> Att lokalisera och förstå revisorns problem med att verifiera posten goodwill i jämförelse med vad IAS och IFRS säger.</p><p> </p><p><strong>Metod: </strong>Det vetenskapliga synsätt vi använt oss av är hermeneutiskt, vilket går ut på att förstå något. Vi har valt att använda en kvalitativmetod med fem stycken ostrukturerade intervjuer med revisorer från olika revisionsbyråer för att samla in vårt empiriska data. Litteraturstudien har samlats in genom vetenskapliga artiklar och litteratur som sökts via databaser på Högskolan i Gävle och Uppsala Universitet.</p><p><strong>Resultat & slutsats:</strong> Revisorerna litar på företagen och följer hellre praxis än IFRS vilket gör att de inte ser värderingen som ett problem. Eftersom studien endast innehåller fem intervjuer kan vi inte säga att resultat är generaliserbart. Slutsatsen är tänkt att ge en bild av att IAS 36 inte kan följas i praktiken.</p><p><strong>Förslag till fortsatt forskning:</strong> Vi rekommenderar att studera och jämföra praxis, lag och rekommendationer. Detta eftersom revisorerna säger att de inte följer regelverken IFRS och IAS utan och innan vid en revision, de anser att det är bättre att följa praxis då IFRS och IAS ställer alldeles för höga krav på företagen.</p><p><strong>Uppsatsens bidrag:</strong> I likhet med förslag till fortsatt forskning har vi kommit fram till att det skulle vara mycket värdefullare med en jämförelse av lag och praxis istället för hur revisorn utför sitt arbete jämfört med vad som står i lagen. Detta eftersom att revisorn följer praxis noggrannare än IFRS ramverk.</p> / <p><strong>Aim:</strong> To locate and understand the auditor’s verification problem recording the item goodwill in comparison with IAS and IFRS.</p><p><strong>Method:</strong> The scientific approach we have used is hermeneutic, which is to understand something. We have chosen to use a qualitative approach with five unstructured interviews with auditors from different auditing firms to collect our empirical data. The literature study was collected through scientific articles and literature that we search for through databases at the University of Gävle and Uppsala University.</p><p><strong>Result & Conclusions:</strong> The auditors trust the companies, and follow established practice rather than IFRS so that they do not see the valuation as a problem. We can not say that our result is generalizable since the study only contains five interviews. The conclusion is supposed to point out that IAS 36 can be difficult to follow in practice.</p><p><strong>Suggestions for future research:</strong> We recommend studying and comparing established practice, law and recommendations. This because the auditors say they do not use IFRS and IAS regulations, they think it is better to follow established practice because IFRS and IAS make too high demands on companies.</p><p><strong>Contribution of the thesis:</strong> Compared to suggestions for future research we realize that it would give more value for knowledge to compare law and praxis instead of comparing how the auditor is working compared to the law. That is because the auditor follows practice more strictly than the standards of IFRS.</p>

No description available.