ID: 27281
Authors:
Anastácio Teodoro de Oliveira e Silva, Natan Szuster.
Source:
Revista de Contabilidade do Mestrado em Ciências Contábeis da UERJ (Online), v. 10, n. 1, p. 77-90, January-June, 2005. 14 page(s).
Keyword:
Cape Verde; IASB; Portuguese GAAP X U , GAAP; Disclosure; Consolidation; Conversation; Harmonization and Portugal Telecom , S
Document type: Article (Portuguese)
Show Abstract
The present dissertation explains the complexity of subsidiary disclosure situated in different countries by parent company. In this case, the present company, Cape Verde Telecom S.A. follows Cape Verde Generally Accepted Accounting Principles and supplemented by IASB’s principles, so it sends these financial statements to Portugal, where they are consolidated by Holding Portugal Telecom SGPS, S.A. As a result, this company converts these financial statements to U. S. GAAP for the stocks to be quoted in NYSE.Besides the Cape Verde Generally Accepted Accounting Principles, IASB and U.S. GAAP, the criteria that determined the financial statement consolidation, also presents some characteristics of the countries where the companies are located. To best present and visualize the compani es, Cape Verde Telecom’s and Portugal Telecom’s financial statements and the reconciliation between Net Income and Shareholder’s Equity determined by Portuguese GAAP and U. S. GAAP are presented. It concludes that when one company transfers their financial statements, their numbers are impacted greatly. This research also shows the necessity of major homogeneity and transparency in subsidiary disclosure and this parent company by aiming for improvement of accounting’s information and, in doing so attracting the best investments.
