Editorial V. 16, N. 38, 2019

ID: 53798

Authors: Carlos Eduardo Facin Lavarda, Fabricia Silva da Rosa.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 1-2, January-March, 2019. 2 page(s).

Document type: Editorial (Portuguese)

Leadership Style, Information Asymmetry and Evaluative Use of the Budget Are Antecedents of Budget Participation?

ID: 53799

Authors: Micheli Aparecida Lunardi, Larissa Degenhart, Vinícius Costa da Silva Zonatto.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 3-34, January-March, 2019. 32 page(s).

Keyword: Asymmetry of information , Budgetary participation , Evaluative use of the budget , Leadership style

Document type: Article (Portuguese) Show Abstract

This study investigates the reasons why superiors encourage the participation of the subordinate in the budget processes of industrial companies headquartered in Brazil, through analysis of the antecedent effects of budget participation: leadership style, asymmetry of information and evaluation use of the budget. Descriptive research was carried out by means of a survey, with the application of a questionnaire in a sample of 106 managers, analysts, budget coordinators or controllers, and quantitative data analysis, with the aid of Modeling Structural Equations. The results revealed that superiors encourage subordinate participation when the superior's leadership style is considered. The reasons why the superiors encourage this participation are related to obtaining private information of knowledge of subordinate managers; and, the definition of objectives and budgetary targets for performance evaluation. Not all the antecedents tested were confirmed in the context of the performance of the companies headquartered in Brazil, which opens the prospect of new studies on the subject. It was concluded that leadership style, evaluative use of the budget and incentive to budget participation constitute antecedent the participation of subordinate managers in the budgetary processes of their organizations. These findings allow us to understand the role of the leader in organizations, the importance of using budget targets to evaluate the performance of subordinates, and encouraging participation as a resource for the qualification of budget processes.

The Influence of Fixed Assets in Asymmetric Behavior Costs

ID: 53800

Authors: Letícia Matiolli Grejo, Katia Abbas, Reinaldo Rodrigues Camacho, Emanuel Junqueira.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 35-56, January-March, 2019. 22 page(s).

Keyword: Asymmetrical behavior , Fixed asset , Sticky cost

Document type: Article (Portuguese) Show Abstract

This study aims to investigate the influence of fixed assets in the asymmetric behavior of costs. As for the methodology, this research classified as a described quantitative survey. In Economática database information was collected on the net sales revenue, cost of goods sold and administrative expenses, selling expenses and fixed assets of 103 Brazilian companies distributed among the sectors of consumer cyclical, basic materials and public utility between the years 2005-2014. The asymmetry results reveal the presence of sticky cost in the three sectors. Thus, it is believed that companies that demonstrate less sticky cost behavior will have better earnings. And, in general, it can be concluded that investment in fixed assets may generate greater asymmetries in costs due to their fixed elements, what in the long run, may reduce the company's earnings, because it has more difficult to get rid of these fixed assets.

Impact of the Recognition of Financial Instruments Measured at Fair Value on Net Income Volatility

ID: 53801

Authors: Laís Manfiolli Figueira, Marcelo Augusto Ambrozini.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 57-86, January-March, 2019. 30 page(s).

Keyword: Fair value , Financial instruments , Income smoothing , Volatility

Document type: Article (Portuguese) Show Abstract

In order to verify if the recognition of financial instruments measured at fair value through profit or loss leading to a greater volatility of accounting net incomes, this research adopted statistical tests that analyze the difference between as variances of net incomes that consider financial instruments at fair value and historical cost amortized, in the period between 2010 and 2016, of the Brazilian non-financial companies and banks with a greater Presence in Stock Market. After analyzing the effect of unrealized gains and losses on net income, there is a tendency for income smoothing, both for non-financial companies and for banks, there isn't for increased volatility as argued by critics for the adoption of fair value. This trend may have a positive impact on the valuation of companies by the capital market and by creditors, they have already showed a preference for consistent profits over time due to its risk aversion.

Municipal Public Expenditure as a Determinant in Human Development

ID: 53802

Authors: Leandro Saraiva Dantas de Oliveira, Aneide Oliveira Araujo.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 87-104, January-March, 2019. 18 page(s).

Keyword: Efficiency , Municipal human development , Public expenditure

Document type: Article (Portuguese) Show Abstract

This study aims to investigate whether municipal public expenditures impact development Of Brazilian municipalities. Overall results showed that functional expenditures on housing, urban planning, health and sanitation, and transportation have a positive impact on human development in a wide range of dimensions. Already the expense in education and culture had a negative impact. In this way, it is generally verified that municipal expenditures have little explanatory power in the human development of municipalities, either through a misallocation of resources due to inadequate public choices or the need to analyze the impact of these expenditures together with Of other federative entities.

Motivational Factors and Changes in Master's Degree in Accounting: the two Sides of the Same Story

ID: 53803

Authors: Alison Martins Meurer, Antônio Nadson Mascarenhas Souza, Flaviano Costa.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 105-128, January-March, 2019. 24 page(s).

Keyword: Master in accounting , Theory of human capital , Theory of self-determination

Document type: Article (Portuguese) Show Abstract

The admission on masters brings relevant modifications in the life of the students, in social, financial or psychological areas. The alteration of reality in the face of new commitments can have some consequences for students, and compromise their performance in the course. In this sense, this research sought to identify how changes (social, financial and psychological) occurred in the lives of students of the master's degree in accounting after joining the postgraduate program. Under the theoretical lens of Human Capital and Self-Determination theories were identified the motivations that fostered the participants' desire for and decision to enter the masters in accounting. To collect the evidences, we conducted semi-structured interviews and applied questionnaires in 12 Brazilian public higher education students. The interview script was submitted to the validations proposed by the specialized literature, and the ethical aspects were observed by the researchers. Based on the analysis of participants' speeches and possible knowledge, it is necessary to inform the coordination of Brazilian postgraduate courses, the development agencies, teachers, students and future candidates. First, the results point in all aspects, active and financial, there were modifications in the lives of the majority of participants. The speeches indicate that the financial factor is considered one of the most important and observed by the masters for the completion of the course. In addition, an overload of activities and a lack of planning both in relation to the time and financial aspects, psychologically impact the students. It was also noticed that motivations that led the students to enter the postgraduate program are aligned with professional goals, but are also strongly related to personal satisfaction and other intrinsic motivations. Thus, it is considered that the study gave voice to the masters, as it innovates for its qualitative character and in-depth analysis. Finally, this research is a reflection of the portrait and design of the postgraduate course in Brazil. It is hoped that the findings will serve as a basis for maintained and improved student maintenance policies, as well as the design of Brazilian postgraduate studies.

Do Performance Indicators Differentiate Companies from the Same Segment?

ID: 53804

Authors: Luiz Henrique Figueira Marquezan, Marivane Vestena Rossato, Bernardo Cohen Ely, Tiago Ribas Fogaça.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 129-149, January-March, 2019. 21 page(s).

Keyword: B3 , Kruskal Wallis test , Performance indicators , Profitability

Document type: Article (Portuguese) Show Abstract

The objective of this study was to identify the capacity of profitability indicators in producing subsidies for analysts and investors through the differentiation of the companies of the same industry. This approach follows the contingency line. To this, were analyzed 17 companies from the real estate industry from B3, in 22 trimesters. The data, secondary, were collected from B3 website, using the indicators: ROA, Gross Margin, EBITDA Margin and Net Profit Margin. The data were analyzed through descriptive statistics and Kruskal Wallis test, with the multiple comparisons process. The results made possible to evaluate each of indicator and company, identifying those that most differentiate them. As a conclusion, the four indicators showed statistically significant differences between the companies, but in levels less than 40% of the possible comparisons. Thus, the use of statistical techniques contributes to the identification of significant variations in performance between companies, as well as demonstrates the similarities in the same industry and can contribute to the judgment of analysts and investors. The study discusses these impacts and the analysis relevance to them.

Analysis of the Relationship between Profitability and Working Capital Management Strategies of Companies Listed in B3

ID: 53805

Authors: Ilirio José Rech, Moisés Ferreira da Cunha, Carolina Teixeira Rabelo, Alessandra Carneiro Barbosa.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 150-165, January-March, 2019. 16 page(s).

Keyword: Aggressive strategy , Conservative strategy , Profitability , Working capital

Document type: Article (Portuguese) Show Abstract

The main purpose of working capital management is to maintain a balance between each of its components and, therefore, the balance between insolvency risk and profitability. The company can therefore adopt an aggressive or conservative policy of working capital management, depending on the management strategy. In this sense, the purpose of this article is to analyze the influence of working capital management strategies on the profitability of the companies listed in B3. It was then selected a sample of 152 companies listed in B3 and segregated between aggressive or conservative policy of working capital management. The period analyzed was from 2000 to 2014 and the data collected consists of current assets, current liabilities, total assets, total assets profitability and net assets' profitability. Data were organized and analyzed based on simple and multivariate regression. The results indicate that the investment strategy in working capital positively influences the profitability of total assets and shareholders' equity. As regards the financing policy, it was verified that the companies, when analyzed together, had a negative influence of the aggressiveness of financing on the profitability of assets and equity. However, companies that adopt aggressive financing policies above average and show above-average return on assets represent a positive influence of the financing policy on profitability.

Brazil's Experience in IPSAS Implementation

ID: 53806

Authors: Raquel Luz de Lima, Diana Vaz de Lima.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 166-184, January-March, 2019. 19 page(s).

Keyword: Brazil , Governmental Accounting Reforms , IPSAS

Document type: Article (English) Show Abstract

Considering the small number of empirical studies on the adoption of the IPSAS in Latin American countries, this article aims to understand the implementation of IPSAS in Brazil, presenting the national institutional arrangements, the progress made since the beginning of the reform, the challenges encountered in the Brazilian scenario and the results observed until 2017. The New Institutional Theory (NIT) is used to know the actors' point of view, and the transition barriers outlined in Ouda's study (2008) were considered. The key players in the process of conducting and promoting the Brazilian government accounting reform were interviewed and a questionnaire was applied during a meeting of the Technical Group for Standardization of Accounting Procedures (GTCON). The results show that although the process of adoption of IPSAS in the Brazilian Government was initiated in 2008, the reform is still in an early stage, requiring more interaction among the actors involved.

Measurement of Industrial Idleness by ABC, TDABC and UEP methods

ID: 53807

Authors: Rodney Wernke, Ivone Junges, Antonio Zanin.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 185-206, January-March, 2019. 22 page(s).

Keyword: ABC , Production idleness , TDABC , UEP

Document type: Article (Portuguese) Show Abstract

From the assumption of the CPC-16 the cost account was forced to give more attention to the aspects related with the theoretical capacity, real and normal of the production, since the knowledge of these is required to investigate the cost to be attributed to the stocked or sold products. In this way, it was established as general objective to measure the idleness, by comparative form, by UEP, ABC and TDABC methods in a small company context. The data analyses allowed the following results: some units cost value determined by the three methods result different if determined by the original conception of these; in the three methods is possible to identify the otiose production to assign it monetary value and verify the corresponding percentage about the installed capacity.

Elimination of the Proportionate Consolidation Method: Analysis of the Adequacy of the IASB’ decision

ID: 53808

Authors: Raquel Wille Sarquis, Ariovaldo dos Santos.

Source: Revista Contemporânea de Contabilidade, v. 16, n. 38, p. 207-228, January-March, 2019. 22 page(s).

Keyword: Comment letters , IFRS 11 , Joint ventures , Proportionate consolidation

Document type: Article (Portuguese) Show Abstract

The purpose is to analyze the arguments of the respondents who sent letters during the public consultation period of the Exposure Draft 09 – Joint Arrangements, in order to infer about the adequacy of the IASB’s decision to eliminate proportionate consolidation. Using the Content Analysis technique, the 111 letters sent to the IASB were analyzed. Of the 107 respondents who commented about the elimination of proportionate consolidation, 68 mentioned that they did not agree with the IASB decision, evidencing a high level of rejection. The countries with the highest rate of rejection are from Europe and with the highest level of acceptance are from Asia. The interest groups with the highest rate of rejection are audit firms and professional associations. This research argues that proportionate consolidation results in more relevant accounting information than the equity method and that the greater disclosure requirements will not compensate the information loss arising from the elimination of the proportionate consolidation.