Editorial V. 8, N. 2, 2018

ID: 55906

Authors: Ricardo José Rocha Amorim, Francisco Marton Gleuson Pinheiro.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 1-4, May-July, 2018. 4 page(s).

Document type: Editorial (Portuguese)

The Relevance of Financial Information on B3 Listed Companies Acting with Biological Assets after Adoption of CPC 29

ID: 55907

Authors: Ronivaldo Alcebiades Ferreira, Aridelmo Teixeira.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 5-22, May-July, 2018. 18 page(s).

Keyword: Biological assets , CPC 29 , Fair value , Informational content

Document type: Article (Portuguese) Show Abstract

This paper analyzes the effects on the relevance of financial information after the adoption of CPC 29, proposing to verify whether there were significant changes, especially regarding the stock price, information content, predictive capacity of future cash generation of companies. Brazilian companies listed in B3. We analyzed information from 2005 to 2017 from companies participating in B3 that maintained biological asset inventories. The Value Relevance model was applied to the data treatment. The results suggest that the implementation of IFRS standards led to changes in share pricing at t + 4 months after the closing of the financial statements and confirmed the existence of a positive relationship between biological assets and share price. The results also show the presence of gains to the informational content indicated by the change of investor perception. However, the data analyzed did not show informational gains on operating cash flow generation within three months of the closing of the financial statements. As contributions, it highlights greater clarity after the application of the norm, besides subsidizing the professional and academic class with its results.

Acquisition of Business Control in Brazil: A Study on Buyer's Performance

ID: 55908

Authors: Rui Bezerra Silva, Roberto Marcos da Silva Montezano.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 23-45, May-July, 2018. 23 page(s).

Keyword: Financial and Economic Performance Indicators , Mergers and Acquisitions , Shareholding Control

Document type: Article (Portuguese) Show Abstract

This study aimed to identify and describe economic and financial changes undergone by companies that have acquired at least 50% of the control of other companies. The analysis was based on economic and financial indicators widely adopted in the accounting literature and corporate finance, as liquidity, leverage, profitability, operating performance and synergies. For this study, we analyze a sample of operations of Mergers & Acquisitions carried on Brazil during the years 2006-2013. This research is descriptive and quantitative and based on secondary data. This article investigated whether there were changes in performance indicators of companies that acquired majority stakes at other companies after the acquisition. This research has led us to three results. First, there was a decrease in liquidity indicators in the three years after the acquisition. Second, there was weaker evidence of decline in profitability after the acquisitions. Third, contrary to the hypothesis of synergy gains as a motivator for acquisitions, there was no evidence of improvement in synergies adopted indicators. This study contributed to the empirical literature related to this subject and showed evidence that improvements in business performance following acquisitions of equity controls in other companies should be carefully evaluated.

Effects of the Adoption of IFRS 16 in the Performance Indicators of Rental Entities

ID: 55909

Authors: Ana Carolina Vasconcelos Colares, Antônio Paulo Machado Gomes, Luiz Carlos de Lima Bueno, Laura Edith Taboada Pinheiro.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 46-65, May-July, 2018. 20 page(s).

Keyword: IFRS 16 , Operating leasing , Performance indicators

Document type: Article (Portuguese) Show Abstract

This research aimed to identify what were the effects of the adoption of IFRS 16 on the balance sheet and performance indicators of lessee entities. To this end, we analyzed the 2016 financial statements of a sample of 46 Brazilian listed companies that contained operating leases in the period. Future expenses corresponding to operating leases were identified and discounted to present value at the IGP-M rate 7.19% accumulated in December 2016 and the new accounting was simulated based on the recognition of assets, liabilities and depreciation for the period. After the new form of accounting, a comparison was made between the liquidity, debt and profitability indicators calculated before and after IFRS 16, applying the Wilcoxon-Mann-Whitney test to verify the statistical difference between the indicators with data simulation. The survey results show that there will be a significant increase in balance sheet accounts and a decrease in income, reducing liquidity, short-term debt and profitability indicators of lessees, and a significant increase in the companies' capital structure, concluding that the change accounting for leases will impact users' perceptions of accounting information regarding the performance of leasing entities.

ICMS and IPVA Dependence Level Study by Geoadministrative Municipalities of the Pariba’s in the Period from 2015 to 2017

ID: 55910

Authors: Julliene Larissa de Abreu Lima, Neíse Karla Pereira Sousa, Rodrigo de Queiroz Nóbrega, Alan Santos de Oliveira.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 66-81, May-July, 2018. 16 page(s).

Keyword: Government Transfers , ICMS , IPVA

Document type: Article (Portuguese) Show Abstract

The present study aimed to establish the level of dependence of municipalities in geoadministrative regions in relation to the amounts resulting from government transfers of the Tax on Transactions Concerning the Movement of Goods and the Provision of Interstate, Intercity Transport and Communication Services (ICMS) and Motor Vehicle Property Tax (IPVA) quota from the municipalities' budget in Paraíba's geo-administrative regions, highlighting the impact on the budget of these municipalities. regions, in the period from 2015 to 2017. The research population comprised the municipalities that make up the 14 geo-administrative regions of Paraíba. Analyzing the degree of dependence of the municipalities studied, it can be observed that they did not have a major impact on the municipalities budget, which may suggest that there was a possible commitment of municipal managers to obtain other sources of revenue. Thus, the study can contribute to literature and public management practice by highlighting and analyzing the dependence of intergovernmental transfers on the cost of municipal spending, which should be part of the fiscal policy process of economic revenue generation.

Relationship between Tax Management and the Disclosure of Taxable Contingent Liabilities in Companies Listed in the New Market of [B]3

ID: 55911

Authors: Rúbia Albers Magalhães, Luiz Felipe Ferreira.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 82-100, May-July, 2018. 19 page(s).

Keyword: CPC 25 , Tax Contingent Liabilities , Tax Management

Document type: Article (Portuguese) Show Abstract

This research aimed to evaluate the relationship between tax management and the disclosure of taxable contingent liabilities in companies listed in the New Market segment of [B]3. The level of disclosure of the tax contingent liabilities by companies was found based on a checklist drafted according to the requirements of CPC 25. In order to measure tax management, the variables Effective Tax Rates (ETR), Cash Effective Tax Rates (CashETR) and Book-Tax Differences (BTD) were used. The results also indicate a significant and negative relationship between the BTD and the disclosure of the taxable contingent liabilities. Thus, the New Market companies do not work to reduce the taxable profit against the accounting profit, they seek to highlight the requirements made by CPC 25 on the taxable contingent liabilities. It is concluded that the study contributes to the literature on tax management and the disclosure level of tax contingent liabilities of Brazilian companies, by pointing out the description of tax management and tax contingent liabilities, as well as the relationship between the two.

Accounting and Tax Earnings Management through Interest on Capital in Companies Listed on São Paulo Stock Exchange

ID: 55912

Authors: Laerson Morais Silva Lopes, José Maria Dias Filho, Emmanuel Souza de Abreu.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 101-118, May-July, 2018. 18 page(s).

Keyword: Earnings Management , Interest on Equity , Shareholder Remuneration Policy

Document type: Article (Portuguese) Show Abstract

This study aims to analyse the relationship between remuneration through interest on equity and the variability of book income and variability of taxable income. The companies analyzed represent 28.8% of pay interest on equity in the period between 2006 and 2011. For validation and interpretation of data, were performed descriptive analyzes, correlation analysis and multiple linear regression for longitudinal data (panel data) through Generalized Estimating Equation. In general, it was found that companies do not use this interest to reduce the variability of results (by increasing or reducing tax expenditures, which may vary depending on the level of interest on capital paid). The exception occurred for companies in the Corporate Governance Level 1, to which the data indicate the use of interest on equity for the practice of smoothing. Regarding the management of taxable income, in general, there is evidence that this metric influence the decision to compensation through interest on capital, an indication that the reduction in the tax expenditure in this case is what matters in deciding the means of remuneration.

The Effect of Public Spending Quality of Basic Education in Capital Brazil: A Study Based on Indicator of Educational Quality Responsible (IQER-2006/2013)

ID: 55913

Authors: Mirtes Carlos da Mota e Souza, João Eudes Bezerra Filho.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 119-136, May-July, 2018. 18 page(s).

Keyword: Education in the Brazilian capitals , Public educational expenditure , Quality of education index , Responsible educational quality

Document type: Article (Portuguese) Show Abstract

The aim of this paper is to analyze the effects of public spending on the quality of municipal elementary education in Brazilian capitals. The Responsible Educational Quality Indicator (IQER) was created for use as a dependent variable from 2006 to 2013 in the Brazilian capitals. As an independent variable, the average expenses per student of the elementary school system were adopted during the period considered. For control variables, we used the per capita municipal PIB, the Human Development Index (IDH), the percentage of the population aged 18 or older, with complete high school and Own Revenue Index. It was found that the increase in education spending by the Brazilian capitals causes a reduction in the IQER, which demonstrates the inefficiency in spending application. The IDH proved to be the best explanatory variable for the positive effects on the IQER. The research contributes by offering an indicator that allows us to observe another way to measure the quality of education by factor levels, respecting the cadence of elementary school. In addition to the IDEB (Basic Education Development Index) score, IQER can be used as a resource allocation and monitoring target for the goals proposed by the PNE.

Value Added Statement (DVA): An Analysis of Wealth Generation and Distribution of Companies Listed in the Corporate Sustainability Index (ISE)-B3

ID: 55914

Authors: Taís Santos de Sousa, Juliano Almeida de Faria.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 137-154, May-July, 2018. 18 page(s).

Keyword: Corporate Sustainability Index , Indicators , Statement of Added Value

Document type: Article (Portuguese) Show Abstract

This study aimed to analyze the DVA published by publicly traded companies in the 2018 portfolio of the ISE-B3 index. Wealth generation and distribution indicators were used as variables in the research analysis. The analysis included the sample of 30 public companies listed in the 2018 ISE portfolio and 30 non-ISE companies listed in B3 from 2014 to 2018. To analyze the variation of the indicators, the Student's t-sample parametric statistical test was used. independent tests and the Mann-Whitney test for nonparametric samples. The results obtained from the Student and Mann-Whitney t-tests, within a 95% confidence interval, with a significance level of 0.05, verified that the ISE and Non-ISE Group companies present similar statistical evidences, that is, did not show significant variation in relation to the analyzed period because the p-value was higher than 0.05 in all cases. Thus, the fact that the companies, whether or not they belong to the Corporate Sustainability Index, did not significantly affect the DVA of these companies, considering the indicators used in the research.

Analysis of Costs of a Craft Company of Marechal Cândido Rondon, Paraná

ID: 55915

Authors: Vanessa Aline Bergmann, Wanderson Dutra Gresele, Silvana Anita Walter.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 155-173, May-July, 2018. 19 page(s).

Keyword: Cost accounting , Costing Methods , CVL Analysis

Document type: Article (Portuguese) Show Abstract

This study aims to analyze the relationship of cost, volume and profit in the production of sweets in a handcrafted candy company of Marechal Cândido Rondon. A literature review on the concepts of cost accounting, costing method and cost, volume and profit analysis was carried out. The methodology was classified as quantitative, of the descriptive type, the data for analysis were obtained through documentary research in the internal controls maintained by the company and as an adjunct to an interview with the administrator, using online spreadsheets to perform cost, volume and profit analysis and perception of the company's economic performance. The company had its products divided into four categories for the analysis, of these, the traditional sweets had more quantity sold, however, the chocolates were the highlights, having the best average prices and the highest contribution margin. The average performance of the company in the analyzed months was higher than its break-even point, when associated with its Leverage Degree, showing that the company has many possibilities for growth if it encourage the commercialization of its products of better performance. This study has information that can assist in the process of management control and decision making in craft candy companies.

Ecosocioeconomy and Community-Based Tourism: Study on the TBC Cabula Project

ID: 55916

Authors: Maria de Fátima Araújo Frazão, Luciane Cristina Ribeiro dos Santos, Simone Calistro Fortes Bortolossi.

Source: Revista de Gestão, Finanças e Contabilidade, v. 8, n. 2, p. 174-192, May-July, 2018. 19 page(s).

Keyword: Community-based tourism , Eco-social economic , ETBCES , TBC Cabula

Document type: Article (Portuguese) Show Abstract

The present article aims to systematize actions developed by the Community Based Tourism Project in Cabula and surroundings (TBC Cabula), in the temporal cut of 2014 to 2017 considering the context of Community - Based Eco - Economy and Tourism. Cabula e entorno refers to seventeen popular neighborhoods of Salvador, Bahia, which are contemplated by the project called TBC Cabula. The research is of theoretical-empirical nature, with a qualitative and descriptive approach, through direct observation and the semistructured interview with researchers who integrated activities of Cabula TBC in the period. Among the main results, the description of the project management process, focusing on the Community-Based Tourism Meeting (ETBCESs), evidences of mobilization, articulation and sharing of educational experiences by researchers based on the principles of Eco-Economy and Tourism Community Based, knowledge generation and scientific production, constituting an opportunity for action and reflection on the researched social reality.