Accountability: a razão de ser da contabilidade (Editorial)

ID: 24301

Authors: Masayuki Nakagawa.

Source: Revista Contabilidade & Finanças, v. 18, n. 44, p. 0-0, May-August, 2007. 1 page(s).

Document type: Editorial (Portuguese)

Differences between financial and management accounting: an empirical research based on the work of researchers from several countries

ID: 24302

Authors: Fábio Frezatti, Andson Braga de Aguiar, Reinaldo Guerreiro.

Source: Revista Contabilidade & Finanças, v. 18, n. 44, p. 9-22, May-August, 2007. 14 page(s).

Keyword: Management Accounting; Financial Management , Managerial Accounting

Document type: Article (Portuguese) Show Abstract

This study aims to identifying the main elements that distinguish management accounting from financial accounting in different countries around the world. Evolution shows that, actually, at some time and in some situations, these two accounting branches could be similar and even equal. However, the different demands and perceptions of their users in different countries lead to a distance between them. To understand these differences, a study was carried out in 24 countries, in order to identify what elements can present differentiations between these two branches of accounting. The elements included in this study were defined by using a combination among different authors’ approaches. The field research was developed by applying a structured questionnaire, based on a Likert scale, which was answered by specialists. The main distinctive elements of these two accounting branches are: application of standards, analytic focus, reliability level, agents which influence or can exert influence, frequency of report publication and legal requirements for trained personnel to different extents. These differences strengthen the need for an accounting information system that can equally attend to its two main user groups – internal and external.

Risk measurement proposal based on utility

ID: 24303

Authors: Rodrigo Leone, Roberto Quirino do Nascimento, George Guerra Leone, Marcos Paulo Oliveira.

Source: Revista Contabilidade & Finanças, v. 18, n. 44, p. 23-32, May-August, 2007. 10 page(s).

Keyword: Measurement of Risk , Stock Market , Utility Deviation , Utility Function

Document type: Article (Portuguese) Show Abstract

The measurement of risk presented in Markowitz’ work was based on the variance of returns. In spite of penalizing deviation greater than the unity, this methodology does not differentiate positive from negative deviation. This study proposes a measurement of risk in which a utility function is incorporated to describe the characteristics of a rational investor. The disappointment of the investor with the loss is greater than the satisfaction with the gain. This new component, in addition to supplying other interpretations for volatility, seems to be a more effective alert instrument than the usual methodology.

ABC costing in hospital environment: a study in brazilian university hospitals

ID: 24304

Authors: Gilberto José Miranda, Cleverton Euclen de Carvalho, Vidigal Fernandes Martins, Adolar Ferreira de Faria.

Source: Revista Contabilidade & Finanças, v. 18, n. 44, p. 33-43, May-August, 2007. 11 page(s).

Keyword: Brazil , Cost , Hospitals

Document type: Article (Portuguese) Show Abstract

The Cost Based Activity has been a promising alternative to deal with the complexity that characterizes hospital costs. In the last ten years, only in the Plataforma Lattes, more than a hundred studies of this nature had been found. This work aims to find out, empirically, the use of ABC Costing in Brazilian university hospitals and to compare the results, according to the possibilities, with the researches that have been made in the biggest Brazilian companies by the authors: Khoury (1999), Beuren and Roedel (2002) and Azevedo, Santos and Pamplona (2004). A hundred and fifteen questionnaires were sent to the university hospitals, 34 had been answered. The study relates important conclusions: The current cost systems of the hospitals have few conditions to supply useful information to the management; the ABC Costing is enough known in the hospital area, but the number of users is still relatively small: only 15% of the sample; but there is a expectation on the part of 44% of the hospitals regarding the future use of the boarding. The main causes presented for not-using the ABC Costing had been: (a) the system in use serves the necessities of the organization and (b) the Activity Based Costing is very complex.

The professors' perception regarding Strategic Accounting practices: a comparative study

ID: 24305

Authors: Paula Danyelle Almeida da Silva, Odilanei Morais dos Santos, Aracéli Cristina de Sousa Ferreira.

Source: Revista Contabilidade & Finanças, v. 18, n. 44, p. 44-59, May-August, 2007. 16 page(s).

Keyword: Accounting Academicians , Competitive Advantage , Strategic Accounting

Document type: Article (Portuguese) Show Abstract

This study aims to gauge the degree of utilization and understanding of the expression "Strategic Accounting", as well as the merit of some practices regarded as being of strategic accounting, in accordance with lecturers’ perception of Brazilian Stricto Sensu post graduation programs in Accounting. Furthermore, the outcomes will be compared with researches made with controllers, both domestic and foreign. It is a descriptive study, outlined through the use of closed questions, punctuated in Likert scale. The sample took into consideration 43 out of 104 Accounting professors and representatives of Stricto Sensu post graduation programs in Accounting. The error margin is of 10% for a confidence level of 90%. In a scale ranging from 1 to 7, the average attained for the academicians’ perception regarding the understanding of the expression "strategic accounting" was 5,14, in addition to a less intense use, with an average of 4,02. These outcomes suggest that the issue is not totally accepted, without raising oppositions or discussions of some kind, what leads to believing that it deals with an emergent approach in accountancy. In relation to the practices of strategic accounting, the results point to measurements that can lead corporations to attain and maintain competitive advantages. In the comparative study, the averages achieved with academicians were higher than the averages achieved with the Brazilian controllers, both domestic and worldwide, showing, intuitively, that the academic would have a better understanding of the issue than the controllers. However, non-parametric tests indicate that there are not any relevant statistical differences among the grades achieved.

Commitment and professional ethics: a study of both amongst accouting professionals

ID: 24306

Authors: Erivan Borges, Carlos Medeiros.

Source: Revista Contabilidade & Finanças, v. 18, n. 44, p. 60-71, May-August, 2007. 12 page(s).

Keyword: Commitment , Ethical Precepts , Ethics , Ethics Code , Professional Ethics

Document type: Article (Portuguese) Show Abstract

This paper presents a study in commitment issues related to professional ethics amongst professionals in Accounting. It aims to verifying whether the introjections of ethical values influence commitment level. In the empirical phase of the research, two measurement instruments were used, one related to organizational commitment, Medeiros (2003) that was adapted to the profession, with 28 (twenty-eight) indicators and the other one with 20 (twenty). This was done considering Lisboa et al (1997) that was inspired on the ethics code of managerial accounting of the Institute of Management Accountants. The documents relate four minimal ethical precepts: competence, secrecy, integrity and objectiveness; all of which from the authors’ point of view, represent the minimal basis required on an ethics code. They were analyzed from the factorial analysis and the "t" test and it was found out that the commitment issue is influenced by the level of ethical introjections and that there is a differentiation on commitment amongst technicians and accountants. Study results show that the professionals of higher education have their commitment level influenced directly by the introjections of the ethical duties of the profession in four different instances. As for the accounting technician, there are two instances. The study also indicates that objectiveness is the greatest predictor in commitment and this is better shown by normative and instrumental aspects. Therefore, it allows to inferring that relations based on exchange of needs is presented here as a key factor in the ethical performance of accountants.

Determinant factors of capital structure in the Brazilian market - an analysis of the regression with data covering the period from 1999 to 2003

ID: 24307

Authors: Wilson Toshiro Nakamura, Diógenes Manoel Leiva Martin, Denis Forte, Antonio Francisco de Carvalho Filho, André Castilho Ferreira da Costa, Alexandre Cintra do Amaral.

Source: Revista Contabilidade & Finanças, v. 18, n. 44, p. 72-85, May-August, 2007. 14 page(s).

Keyword: Capital Structure , Dynamic Panel , Pecking Order Theory , Trade-off Theory

Document type: Article (Portuguese) Show Abstract

This article presents the results of an investigation about the determinant factors of the capital structure of publicly held companies that operate in the Brazilian market. The sample group consisted of 91 companies, covering the period from 1999 to 2003. A stronger estimation technique conjugating Dynamic Panel Data, which combines cross-section data with time-series, with a generalized method of moments (GMM) tool was used in the performance of this study. The accounting and market concepts were used as capital structure and leverage proxies, and their results were compared. In conformity with literature from the area, the following variables were selected: current ratio, company size, return, growth opportunity, business risk, fiscal economy and sales growth, tangibility, coefficient of variation and bankruptcy risk. The GMM and AH econometric tools were used for the tests. The econometric results proved robust due to the techniques used. The analysis results obtained were largely consistent with the Pecking Order and Trade-off theories. These results are also in line with the results observed in similar studies carried out in several countries.

Aplicación de las medidas clásicas de performance en los fondos de inversión brasileños de renta variables

ID: 24308

Authors: Alexandro Barbosa, José Luis Sarto Marzal.

Source: Revista Contabilidade & Finanças, v. 18, n. 44, p. 86-104, May-August, 2007. 19 page(s).

Keyword: Econometric-Finance Analysis , Multivariate Analysis , Profitability-Risk , Theory of Classical Performance , Variable Income Fund of Investment

Document type: Article (Spanish) Show Abstract

In this study we made an application of the classical measure of performance of portfolio and their respective alternatives of absolute coherence with the monthly dates of the profitability of the brasilian variable income fund during the period of July/2003 and July/2005. In order to develop this study we use the multivariate analysis to classify the funds according to their characteristics of volatility and identify the group of funds with the higher variation. When we made the econometric-finance analysis we used the contribution of Sharpe, Treynor and Jensen and their respective measures of absolute coherence adapted by Sarto and Ferruz. Finally, we made an empirical study that demonstrate that, in statistics terms, the categories of classification of the different classical performance are notoriously similar whereas the categories established by the alternatives of absolute coherence for the three classical measure of performance generated similarities less important.

An evaluation on the applicability of a credit scoring model, with systemic and non-systemic variables in revolving bank credit portfolio for individuals

ID: 24309

Authors: José Odálio dos Santos, Rubens Famá.

Source: Revista Contabilidade & Finanças, v. 18, n. 44, p. 105-117, May-August, 2007. 13 page(s).

Keyword: Consumers , Credit , Insolvency , Return , Risk

Document type: Article (Portuguese) Show Abstract

The concessions of revolving credit to consumers (guaranteed check and credit card) have been growing significantly in the last few years, which is in part explained by the relative stabilization of the economy, higher levels of job creation and success in controlling inflation – factors that have a direct influence in the borrowers’ payment capability. Likewise, a more significant historical exposition of the banks to insolvency risk is being observed, such as the risk of not getting paid (partially or totally) and the revolving credit borrowed by consumers. Considering the size and the importance of this market to the great commercial banks and to the economy as a whole, the scope of this research comprises the following points: 1. detailing the processes of subjective and objective credit analysis carried out by the main domestic private banks; 2. approaching the selective function of interest rates in revolving credits; 3. highlighting the main characteristics of credit scoring models; and 4. proposing a model of credit scoring for revolving credits. This model is based on systemic and non-systemic variables and directed to the reduction of insolvency risk. The applicability of the credit scoring model proposed in a sample, extracted from the consumers credit portfolio which belongs to an important medium size Brazilian private commercial bank (Bank X - fictitious name), presented a satisfactory accuracy level in the identification of prospective (96%) and non-prospective (92%) clients, which led to the conclusion that it included and considered adequately the representative variables of borrowers’ payment capability.