Editorial: 30 anos do Doutorado em Contabilidade

ID: 24319

Authors: Eliseu Martins, Sérgio de Iudícibus.

Source: Revista Contabilidade & Finanças, v. 18, n. n.spe, p. 7-8, June, 2007. 2 page(s).

Document type: Editorial (Portuguese)

A study and proposal about the concept and use of fair value

ID: 24320

Authors: Sérgio de Iudícibus, Eliseu Martins.

Source: Revista Contabilidade & Finanças, v. 18, n. n.spe, p. 9-18, June, 2007. 10 page(s).

Keyword: Alternative Valuation and Measurement Concepts , Value

Document type: Article (Portuguese) Show Abstract

This paper presents an analytic study about the concept of Fair Value, which has been much debated in recent years and promises to be, if its application becomes generalized in financial statements, a true revolution in techniques of valuation. This work briefly analyzes the most important aspects, determinations and concepts about Fair Value, presented by IASB, FASB and Brazilian rules. First, the analysis assumes a semantic character, so as to express the meaning of the words included in the concepts as clearly as possible. Next, a qualitative analysis tries to extract and assess the actual impact of concepts on the advancement of accounting practices. Initially, it should be emphasized that the Fair Value concept goes back quite a long time. In 1939, Kenneth MacNeal, in his pioneering work Truth in Accounting, defined the concept brilliantly; in fact, he talked about fair and true, always granting an economic meaning to valuations. The discussion about Fair Value has attracted increasing intention and gained sensationalistic dimensions since SFAS 133, issued by FASB in 1998. Then, we assess the efficacy and "fairness" of the concept or, better, concepts of Fair Value in comparison with Historical Cost, Replacement Cost and other concepts, which accountants have practiced for a long time. Finally, we suggest a trial period with information that complements and not simply replaces the traditional model. This allows Positive Accounting to play the role, through empirical research, of evaluating the cost-benefit relation of these alternatives before any precipitated decision is made.

Evolution of the accounting education in Brazil: a historical analysis

ID: 24321

Authors: Ivam Ricardo Peleias, Glauco Peres da Silva, João Bosco Segreti, Amanda Russo Chirotto.

Source: Revista Contabilidade & Finanças, v. 18, n. n.spe, p. 19-32, June, 2007. 14 page(s).

Keyword: Accounting Education; Historical Evolution; Commercial Education; Technician and Professional Education , Accounting History

Document type: Article (Portuguese) Show Abstract

The historical research allows to identify, to rescue and to analyze relevant landmarks of the evolution of the society, in the world and Brazil. An important landmark is the impact of the economic, social and politic occurrences on education, therefore such changes demand most prepared professionals. In function of the displayed one, this work presents the result of research carried through in the areas of Accounting and Economy, on the evolution of the Accounting Education in Brazil, and the impact that some economic, social and politic events had on this evolution. This is a historical, documentary, bibliographical and descriptive research. It was analyzed the nationwide legislation on commercial and Accounting Education in Brazil, from the nineteenth century until the current days. Relevant occurrences in the national scene from the arrival of the Real Family in 1808 had been identified, and the effect that this fact and others that had occurred had on the regulation of the Accounting education in Brazil. The gotten results had allowed to identify as some economic, social and politic occurrences had affected the Accounting education, and the form as the analyzed legislation evolved until the current days.

Who is paying interests on own capital in Brazil?

ID: 24322

Authors: Ariovaldo dos Santos.

Source: Revista Contabilidade & Finanças, v. 18, n. n.spe, p. 33-44, June, 2007. 12 page(s).

Keyword: 249/95; Opportunity Cost; Inflation , Interest on Own Capital; Law 9

Document type: Article (Portuguese) Show Abstract

The publication of Law 9.249/95 created the possibility for companies to reward their stockholders by paying "Interest on Own Capital - IOC". This Law allows these payments to be considered as deductible expenses when calculating income and social contribution taxes. This fiscal innovation was accompanied by two other important novelties: a) reduction of basic and additional income tax rates charged on company profits; b) elimination of inflation effects from financial statements. This study, unpublished in Brazil, made it possible to know companies’ attitudes about using IOC legislation, and attempted to answer the following questions: a) are companies paying interest on own capital to their partners / stockholders? b) Which sector pays more IOC: industry, trade or services? c) Do Brazilian companies pay more IOC than foreign enterprises? d) Do publicly-traded companies pay more IOC than private companies? We assessed the publications of approximately 3,000 companies from all over Brazil, which attended to the following characteristics: a) published their financial statements in the media; b) are classified as industry, trade or service companies, excluding the financial sector; c) adopt real profit as a taxation base since, in general, companies using other bases of taxation cannot consider IOC payments as operational expenses. The result demonstrated that 40% of the companies have used IOC as a partner and stockholder payment or credit alternative. It was also found the existence of a rather balanced distribution among industrial, trade and service companies. Another important observation regards the increased number of public companies that started paying IOC to their stockholders.

Adjustments to US-GAAPS: empirical study on their relevance for Brazilian companies with ADR traded on the New York exchange

ID: 24323

Authors: Fábio Moraes da Costa, Alexsandro Broedel Lopes.

Source: Revista Contabilidade & Finanças, v. 18, n. n.spe, p. 45-57, June, 2007. 13 page(s).

Keyword: ADR , Capital Markets , International Accounting , Ohlson’s Model

Document type: Article (Portuguese) Show Abstract

This study evaluated the value-relevance of the information disclosed by Brazilian companies with American Depositary Receipts traded on the New York Stock Exchange. Those companies must comply with the requirement of the Securities and Exchange Commission and elaborate their financial statements according to the United States Generally Accepted Accounting Principles (US-GAAP) until 30th of June, annually. Thus, two sets of information are available, providing data to evaluate the value-relevance of the variables net income and stockholders’ equity, from 1999 to 2003. After applying the model Ohlson developed in 1995 and its further developments, results indicate that (1) the information elaborated according to the generally accepted accounting principles in Brazil are value-relevant; (2) the relevance of the information in US-GAAP made available in June is lower or equal to that disclosed in April; and (3) the adjustments to US-GAAP for stockholders’ equity are value-relevant to the Brazilian capital market.

An empirical study on the importance professional code of ethics for accountants

ID: 24324

Authors: Francisco José dos Santos Alves, Nahor Plácido Lisboa, Elionor Farah Jreige Weffort, Maria Thereza Pompa Antunes.

Source: Revista Contabilidade & Finanças, v. 18, n. n.spe, p. 58-68, June, 2007. 11 page(s).

Keyword: Accountants , Ethics , Ethics Code , Professional Ethics

Document type: Article (Portuguese) Show Abstract

This study aims to investigate the influence of the Code of Ethics (CEPC) in the ethical decision-making process of Brazilian accountants. It adopts a descriptive research approach and a quantitative method for analysis of data. Questionnaires were conducted via Internet and returned by 2262 accountants and accountant technicians, certified and chartered by the Regional Council of Accounting in the states of Rio de Janeiro, São Paulo, Minas Gerais and Rio Grande do Sul. The results obtained show, among others, a contradiction: approximately 73% of professionals polled totally agree with the statement claiming that the Code is important as a guide of conduct; however, only 44% are willing to comply with the guidelines established by the Federal Council of Accounting.

A case study of Business Intelligence as instrument to support controllership

ID: 24325

Authors: Luciane Reginato, Auster Moreira Nascimento.

Source: Revista Contabilidade & Finanças, v. 18, n. n.spe, p. 69-83, June, 2007. 15 page(s).

Keyword: Business Intelligence , Controlling , Dimensions of Control , Information , Information Technology

Document type: Article (Portuguese) Show Abstract

This research examined the contribution of tools provided by Information Technology and specifically Business Intelligence (BI), for the controllership area to perform its function of supporting the decision-making process with useful information. The study was carried out through a field research, specifically a case study, in which the subject could be analyzed in detail. Therefore, interviews were held, guided by a structured script and by a previously elaborated form. Internal documents, files and direct observations were also analyzed as sources of evidence. The period covered by data analysis was from August 2003 until December 2005, during which we could observe the company’s situation before and after the implementation of the BI tools. After the analysis of the interviews, the area indicators and the impact of the tools’ implementation on the company’s economic results, it was concluded that the BI tools can help the controllership area in its function to provide reliable, useful and timely information to the decision-making process, through its flexibility and dynamics, thus contributing to the improvement of the organizational areas’ and the company’s results.

The spread of voluntary environmental information: accounting reports versus Internet

ID: 24326

Authors: Laura Calixto, Ricardo Rodrigues Barbosa, Marilene Barbosa LimaI.

Source: Revista Contabilidade & Finanças, v. 18, n. n.spe, p. 85-95, June, 2007. 11 page(s).

Keyword: Accounting Reports , Environmental Information , Internet

Document type: Article (Portuguese) Show Abstract

Due to the Internet arrival, companies have drastically changed the way to present information about economic, financial and environmental activities performance. Most companies voluntarily report environmental data and this is a growing tendency. This is probably a way companies react to structural changes, as well as establish a clearer dialogue with its stakeholders. This exploratory study aimed to identify the differences between disclosing environmental voluntary information on the Internet and through accounting reports from a sample universe of 60 Brazilian companies performing potentially polluting activities. There were meaningful differences between the information contents in accounting reports and Internet data. More than the double of the amount of voluntary environmental information was found on the Internet. Nevertheless, there were a lot of discrepancies in the way companies in the same field reported information both via the Internet and in accounting reports.

How do country risk and national cultural differences between partners affect the survival of international alliances in emerging countries? Longitudinal analysis of 165 international joint ventures in Brazil 1974 to 2005

ID: 24327

Authors: Pierre Xavier Meschi, Edson Luiz Riccio.

Source: Revista Contabilidade & Finanças, v. 18, n. n.spe, p. 96-107, June, 2007. 12 page(s).

Keyword: Country Risk and Cultural Distance , Emerging Country and Brazil , Event History Analysis , Joint Venture , Survival

Document type: Article (English) Show Abstract

This article aims at identifying the individual and joint impact of two « country-level variables », namely national distance and country risk, on the survival of international joint ventures in emerging countries. Research hypotheses predicting the negative impact of national distance and country risk on survival are formulated in this article. These research hypotheses are tested in a sample of 165 international joint ventures that were formed in Brazil between 1974 and 2003. These joint ventures were subjected to an event history analysis over a period of time ranging from 1974 to 2005. The empirical results show that the intercultural dynamics increases the instability of international joint ventures whereas the survival of these alliances does not seem to be affected by the economic and political uncertainty of Brazil. Furthermore, the national distance between local and foreign partners has effects on survival that are variable according to the life cycle of international joint ventures.

Education and research in the United States: some characteristics of the major Accounting PH.D. programs

ID: 24328

Authors: Fernando Dal-Ri Murcia, José Alonso Borba, Gracieli Ambrósio.

Source: Revista Contabilidade & Finanças, v. 18, n. n.spe, p. 108-119, June, 2007. 12 page(s).

Keyword: D , Ph , Programs in Accounting; Graduate Programs; Education and Research in North-American Universities

Document type: Article (Portuguese) Show Abstract

This paper explores some characteristics of the best Accounting Ph.D. programs in the United States. The sample selection was based on the ranking published by the U.S. News & World Report – America’s Best Graduate Schools in Accounting-2006. This publication lists the best 31 graduate programs in accounting in the United States. However, for this study, 3 schools have been excluded, leaving a total of 28 Universities for analysis. The data has been collected throughout the university’s websites. The characteristics analyzed were: admission requests, degree requirements, disciplines offered and faculty profile. This research aims at contributing to the Brazilian literature throughout a benchmarking in the American Ph.D. programs. In this sense, this work enables some possibilities for improvement in the Brazilian graduate programs.