Editorial

ID: 8110

Authors: Jacqueline Veneroso Alves da Cunha.

Source: Contabilidade Vista & Revista, v. 20, n. 2, p. 1-2, April-June, 2009. 2 page(s).

Document type: Editorial (Portuguese)

Insider information and its effect on prices of two ways of stock issues at Bovespa

ID: 8111

Authors: Robert Aldo Iquiapaza, Hudson Fernandes Amaral, Pedro Pinheiro Costa Lage, Luiz Alberto Bertucci.

Source: Contabilidade Vista & Revista, v. 20, n. 2, p. 15-37, April-June, 2009. 23 page(s).

Keyword: ARCH , Event study , GARCH , Insider information , Stock issues

Document type: Article (Portuguese) Show Abstract

The event study was used to analyze the reaction of market prices to the announcement of two ways of seasoned equity offerings: broad offerings and restricted offerings to stockholders, in firms listed at Bovespa. The market price reaction was analyzed before, during and up to one year after the announcement dates, considering issues between 1995 and 2005. Two standard methodologies were used to measure the abnormal returns. For the model of returns adjusted to market the results did not shown significant difference for the two ways of issues (except for the negative returns in the long time by the broad public issues). In the model of returns adjusted to risk and market, the stocks with heteroscedasticity in the residuals (46% of the sample) had its  coefficients replaced by auto regressive models. In this case, the results for broad offerings showed that (a) there are evidences of insider information before the announcement date, (b) negative abnormal returns in the announcement date, and (c) negative returns up to one year after the issues; and for restricted offerings, the results were not significant, demonstrating that in this case the information asymmetry and insider information problems are less important.

HEI Public X HEI Private: an Investigation on the myth of the influence of the type of HEI in the accountant's professional actuation

ID: 8112

Authors: Orleans Silva Martins, Adriana Fernandes de Vasconcelos, Paulo Aguiar do Monte.

Source: Contabilidade Vista & Revista, v. 20, n. 2, p. 39-64, April-June, 2009. 26 page(s).

Keyword: Accountant , Higher Education Institution , Professional Actuation

Document type: Article (Portuguese) Show Abstract

The expansion of the higher education and the accentuated growth of the number of courses of Accounting Courses have been taking a lot of people they to think her that the public higher education institutions can be decisive for the placement of professional best in the job market and for us to make those  professionals they to receive larger wages than those formed by private institutions. In that sense, the study had as objective verifies if it exists, in fact, it differentiates salary and of socioeconomic profile between the accounting professionals formed by public HEI and formed them by private HEI. For that, an exploratory-descriptive character research was accomplished, through the field research, with application of questionnaires to 270 accountants of States of the Paraíba and of the Rio Grande do Norte. Starting from the obtained results, it was observed that most of the interviewed accountants if it formed in public HEI, 65% worked most of the time during the realization of the degree course, and most already concluded or it is studying a master’s degree course. The  accomplished statistical tests revealed that the institution type in which is formed the accountant exercises influence on your wage and your professional experience, certifying the truthfulness of the myth on it influences of the type of HEI in the accountant's professional performance.

Management control by means of the benchmarking: the case of an organization of science and technology of the Navy of Brazil

ID: 8113

Authors: Anderson Soares Silva, Ana Carolina Pimentel Duarte Fonseca.

Source: Contabilidade Vista & Revista, v. 20, n. 2, p. 65-98, April-June, 2009. 34 page(s).

Keyword: Benchmarking , Comparative Information , Management Control

Document type: Article (Portuguese) Show Abstract

In recent years, an organization of the Navy of Brazil comes if detaching for the reach of the objectives established in its strategical planning. Related  organization, called CASNAV, got followed awardings, enters the years of 2004 and 2007, in the National Prize of Public Administration of the Federal  Government. Ahead of such results, the present work had for objective to verify if benchmarking can be pointed as instrument of management control, inthe case of the CASNAV. For the reach of the intended objective, an used plane of reference was defined as element maker of the development of the research. Given the characteristics of this work it was opted to the adoption of the case study, as research strategy, for making possible the reach of a bigger depth on the subject and for allowing a greater to be able of analysis of the organization. The procedure of collection of information of the present research, used of primary data and secondary data. In the collection of primary data, one of the main sources was the not participant comment. Already the secondary data had been collected, mainly, through the documentary research and of the access to the page of the CASNAV in the Intranet of the Navy. The joined results had propitiated the agreement of that the organization if uses of benchmarking as form to keep its members better informed, contributing for the occurrence of behaviors adjusted in the direction of the achievement of the organizational goals. This if of the one for the fact of that when taking  knowledge of best the practical ones adopted in other organizations, comparing them with its practical interns, the people feel themselves stimulated to search the reach of the same level gotten for such organizations. Ahead of this, it was possible to point a proximity of the practical ones adopted by the CASNAV with the praised ones in literature in what it refers to the use of benchmarking as instrument of management control.

The moment to recognize revenue from the sale of carbon credits: the case of a sanitary landfill operator in the state of Espírito Santo

ID: 8114

Authors: Maria Mariete Aragão Melo Pereira, Valcemiro Nossa, Silvania Neris Nossa.

Source: Contabilidade Vista & Revista, v. 20, n. 2, p. 99-133, April-June, 2009. 35 page(s).

Keyword: CDM , Credit Carbon , Environmental Accounting

Document type: Article (Portuguese) Show Abstract

The recognition of revenue is a complex question because production factors add value to the various phases of the production process. This study investigates factors that bear on the proper moment to recognize the revenue from selling carbon credits, based on a case study of Marca Ambiental, a company that manages a landfill in the state of Espírito Santo and has a landfill gas power generation project involving carbon credits under the Clean Development Mechanism (CDM). To answer the proposed question, documents, interviews and observations were used as information sources. The study covers the phases of conception, implementation and operationalization of the project. The conclusion is that from the standpoint of accounting theory, it is only possible to  recognize revenue from the sale of carbon credits in the operational phase, with three situations determining the recognition timing.

Accounting field studies and supervisory strategies

ID: 8115

Authors: André Carlos Busanelli de Aquino.

Source: Contabilidade Vista & Revista, v. 20, n. 2, p. 135-160, April-June, 2009. 26 page(s).

Keyword: Accounting , Field Studies , Supervisory Strategies

Document type: Article (Portuguese) Show Abstract

This paper discusses the supervisory strategy’s adherence to the challenges of field studies’ design and conduction. This adherence may increase the quality of this type of research, being useful for theory development or testing in management and financial accounting. For accomplishing this, the recognized supervisory strategies are identified in Higher Education literature and analyzed according the field studies particularities. Following the analyses focuses on the supervisor role in a range of tactics applied in field studies, highlighting their contribution in mitigate the threats to reliability and validity conditions. Field study supervisory, mainly due to nature of the students tasks (less prone to anticipate a standard design ex ante), demands more intensive supervisor’s participation, as developing the student’s skills at research and protocol design phases as supporting them after start the field data collection in ex post choices, like helping to resolve the gaps and inconsistencies identified in triangulated information through interview, firm’s archival data, survey and personal observation.

A comparative approach to the analysis of DOAR and DFC indicators: a case study based on the accounting statements of Vale Do Rio Doce, Cia

ID: 8116

Authors: Jaluza Maria Lima Silva Borsato, Daiana Paula Pimenta, Sirlei Lemes.

Source: Contabilidade Vista & Revista, v. 20, n. 2, p. 161-179, April-June, 2009. 19 page(s).

Keyword: CVRD , DFC , DOAR

Document type: Article () Show Abstract

The new accounting rules imposed by law 11.638/07 could promote a still greater introduction of Brazil into global capital markets and at the same time make it possible for all Brazilian companies with open capital to prepare their financial statements according to both national norms and also International Financial Reporting Standards (IFRS) - standards currently adopted in the chief security markets and in countries which do not have their own accounting norms. For accounting statements prepared by companies subject to the new law, Statement of Cash Flow (SCF) will substitute the Sources and Application of Funds Statement (SAFS). Thus, the question that guides this research problem is: What relevance of the information of the DOAR and DFC donate to the process of making decision in the company? The objective of this study was to analyze and compare the information generated by these two statements This study was qualitative, in the form of a case study and complemented by a bibliographical review and an analysis of documents related to the problem, theme and associated subjects. Reports of Vale Do Rio Doce, Cia (CRVD) from 2002 to 2007 were analyzed. The results suggest that information generated by SAFS and SCF are not significantly different for the majority of indicators. However, it is believed that indicators calculated from SCF generate more useful information for analyzing company liquidity and, in addition are easier to calculate, interpret and analyze.