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Transcrição

Pensar 3'0&F425)
Leonardo Portugal Barcellos
CRCRJ 3'0(15L');1:2'0$5)*1)3'0&$4252*$*1)*');=
1º lugar no Adolfo
XII Prêmio
Contador
Geraldo
de La Rocque
Henrique
Coutinho
e Silva
Jorge Vieira da Costa Junior
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3;3<;=)>>??@ABC
D1(&/$0*')1")32E0%2$()3'0&F412()#15$)G+GBHI;=1
5#4$/%155'(J:"$25K%'"
Adolfo Henrique Coutinho e Silva
Rio de Janeiro – RJ
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M'8&'/)1")3'0&$4252*$*1)1)3'0&/'5$*'/2$)#15$)GI+BHQR2
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T'/:19%'(&$J&1//$K%'"K4/
Resumo
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Palavras-chave7)3'091/:E0%2$)%'0&F425f)!G;Qf)(1&'/)*1)(2*1/8/:2$)1)"1&$58/:2$K
Abstract
PL1)'4T1%&291)'S)&L2()#$#1/)2()&')"1$(8/1)$0*)$0$5ca1)&L1)
2"#$%&()'S)1$%L)(&$:1)'S)&L1)6/$a252$0)$%%'80&20:)#/'%1(()'S)
%'091/:10%1)'0)&L1)"1&/2%()[(L$/1L'5*1/(j)1^82&c)$0*)01&)20%'"1_)$0*)$5(')'0)&L1)/1&8/0)'0)4''k)1^82&c)20*1`)[;CI_)/1#'/&1*) S'/) &L1) c1$/() ?NN@) $0*) ?NNV) 4c) #8452%) %'"#$021() 'S)
) G+GBHI;=)<)R/':/$"$)*1)RW(<:/$*8$,-')1")32E0%2$()3'0&F412()*$)H0291/(2*$*1)*')I(&$*')*');2')*1)=$012/')X)3IR7)?NOON<N>U)<);2')*1)=$012/'<;=
) GI+BHQR)X))G$%85*$*1)*1)I%'0'"2$Y)+*"202(&/$,-')1)3'0&$4252*$*1)*$)H0291/(2*$*1)*1)Q-')R$85')X)3IR7)NOON@<N>N)X)Q-')R$85')<)QR
1
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Pensar Contábil, Rio de Janeiro, v. 14, n. 54, p. 04
27
38 - 14,
37,
47, maio/ago. 2012
PENSAR_54_final.indd 4
06/09/2012 19:09:20
C
Pensar 3'0&F425)
CRCRJ 3'0(15L');1:2'0$5)*1)3'0&$4252*$*1)*');=
Impactos da Adoção das Normas Internacionais de Contabilidade no Brasil:
uma investigação no setor de siderurgia e metalurgia
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Key words7) +%%'80&20:) %'091/:10%1Y) !G;QY) (&115) $0*) "1&$558/:c)(1%&'/K
1. INTRODUÇÃO
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Equity_Y) /1#'/&$*'() #15$() %'"#$0L2$() $41/&$() *') (1&'/) *1)
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2. REFERENCIAL TEÓRICO
2.1. Estudos anteriores
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"1/%$*') S20$0%12/'f) 1) [9_) 2"#$%&'() 1%'0\"2%'() '4(1/9$*'()
0$()%'"#$0L2$()[3+g!tPCY)?N>N_K)C)#/1(10&1)&/$4$5L')#'*1)
(1/)10^8$*/$*')0$)#/2"12/$)*$()%5$((1()108"1/$*$(K
) M2(%8/(')*1)b1//2&)o$5"Y)R/1(2*10&1)*')International Accounting Committee FoundationY)*2$0&1)*')3'"2&E)#$/$)+((80&'()I%'0\"2%'()1)D'01&F/2'()*')R$/5$"10&')
I8/'#18Y)1")@)*1)$4/25)*1)?NN@K)M2(#'0]915)1")L&&#7BBlllK2$(4K'/:B.;B/*'05c/1(B+U>@?hO3<>NI < NO><+AM><M33VI MAhU3OBNBR/1#$/1*v(&$&1"10&vb1//2&vo$5"K
#*S
3
Pensar
Pensar
Contábil,
Contábil,
Rio Rio
de Janeiro,
de Janeiro,
v. 14,
v. 14,
n. 54,
n. 54,
p. 04
27
p. -38
37,- 47,
14,
maio/ago.
maio/ago.
2012
2012
O
06/09/2012 19:09:20
Pensar 3'0&F425)
CRCRJ 3'0(15L');1:2'0$5)*1)3'0&$4252*$*1)*');=
.1(&$) "1("$) 520L$Y) 3$55$'Y) =$/01) 1) g$201a) [?NNA_) &1(&$/$"Y)%'")4$(1)1")8"$)$"'(&/$)*1)?h)%'"#$0L2$()^81)%'"#d1")')]0*2%1)!6It)UOY)'()1S12&'()*$)$*',-')*')!G;QK)R$/$)
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+')%'"#$/$/)')!G;Q)$')#$*/-')2&$52$0')%'")$)$#52%$,-')*')
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2.2. Breve histórico do processo de convergência
no Brasil
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O
Pensar
Pensar
Contábil,
Contábil,
Rio Rio
de Janeiro,
de Janeiro,
v. 14,
v. 14,
n. 54,
n. 54,
p. 04
27
p. -38
37,- 47,
14,
maio/ago.
maio/ago.
2012
2012
A
06/09/2012 19:09:20
Pensar !"#.1/+&(
CRCRJ !"#$%&'"()%*+"#,&(-%(!"#.,/+&+-,-%(-"()0
3. METODOLOGIA
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,#,&+$,-"$(8"3(%$.,(8%$H=+$,9(.3O$(%;83%$,$(:"3,;(+#4"38"3,-,$(A=;,(%;(VYYZ(%(-=,$(%;(VY[YDC(E$(%;83%$,$(+#4"38"3,-,$(.+7%3,;($%=$(3%*+$.3"$(#,(!?@(4,#4%&,-"$\(%#.3%.,#."9(
4"#$+-%3,#-"( H=%( "$( 83"4%$$"$( -%( +#4"38"3,5G"( #G"( :"3,;(
:,."3%$(+;8%-+.+7"$(8,3,(,(-+7=&*,5G"(-"$(,6=$.%$(3%:%3%#.%$(W(
83+;%+3,(%.,8,(-"(83"4%$$"(-%(4"#7%3*O#4+,(A$,&-"$(-"(%Q%34F4+"(VYY D9(.,+$(4";8,#'+,$(:"3,;(;,#.+-,$(#,(,;"$.3,C
R%$.,3.%9( -"( .".,&( -%( VU( %;83%$,$( H=%( 4";8P%;( "( $%."3(
A8"8=&,5G"D9(:"3,;(%Q4&=F-,$(,8%#,$(,$(-=,$(%;83%$,$(H=%(
pertencem ao grupo Gerdau, que adotaram antecipadamente
,$(#"3;,$(+#.%3#,4+"#,+$(-%(4"#.,/+&+-,-%9(4"#4&=+#-"J$%(H=%(
,(,;"$.3,(=.+&+I,-,(8"3(%$.,(8%$H=+$,(S(4";8"$.,(8"3(V](4";8,#'+,$(-"($%."3(-%($+-%3=3*+,(%(;%.,&=3*+,(/3,$+&%+3"C
3.2. Coleta de dados
^$( -,-"$( =.+&+I,-"$( :"3,;( 4"&%.,-"$( #,$( -%;"#$.3,5P%$(4"#.1/%+$(,3H=+7,-,$(#,(81*+#,(%&%.3<#+4,(-,(!?@(,.S(
Y_CY`CVY[[9("=($%6,9(;,+$(-%(_Y(-+,$(,8>$("(83,I"(3%*=&,;%#.,-"(8%&,(,=.,3H=+,C(E(4"&%.,(-%(-,-"$(4"#$+$.+=(#,(/=$4,a(A+D(
-"$($,&-"$(,#.%3+"3%$(%(8"$.%3+"3%$(W(.3,#$+5G"(A4"#4+&+,5G"bD(
-"( &=43"( &FH=+-"( AccD( %( -"( 8,.3+;<#+"( &FH=+-"( A2cD9( 4"#:"3;%(
83%4"#+I,-"( 8%&"( 23"#=#4+,;%#."( !2!( [_( 8,3,( ,( 83+;%+3,(
%.,8,(-"(83"4%$$"(-%(',3;"#+I,5G"9(4=6,$(#"3;,$(-%7%3+,;(
$%3( "/3+*,."3+,;%#.%( ,-".,-,$( 8%&,$( 4";8,#'+,$( ,/%3.,$(
8,3,("(%Q%34F4+"(:+#-"(%;(_[C[VCVYY \(%(A++D(-"$($,&-"$(,#.%3+"3%$(%(8"$.%3+"3%$(W(,-"5G"(-"(KL)M(4";8&%."9("=($%6,9(4"#4+&+,5P%$9( #"$( ;"&-%$( -%.%3;+#,-"$( 8%&"$( 83"#=#4+,;%#."$(
!2!(_b(%(]_9(8,3,(,($%*=#-,(:,$%(-%(.3,#$+5G"9("/3+*,.>3+,(
8,3,("(%Q%34F4+"(%#4%33,-"(%;(_[C[VCVY[Y(%(8,3,("$($%*=+#.%$9(%(H=%(4";8&%.,("(83"4%$$"(-%(4"#7%3*O#4+,C
XG"(:"+(%#4"#.3,-,(/,$%(-%(-,-"$(83%4"#4%/+-,(4,8,I(-%(
:"3#%4%3( "$( -,-"$( #%4%$$13+"$( ,( %$.,( 8%$H=+$,C( N;( 7+3.=-%(
-+$$"9(,(/=$4,(-"$($,&-"$(,4+;,(;%#4+"#,-"$(:"+(%:%.=,-,(,(
8,3.+3( -,( +#7%$.+*,5G"( -,$( -%;"#$.3,5P%$( :+#,#4%+3,$( %9( %;(
%$8%4+,&9( -,$( 3%$8%4.+7,$( #".,$( %Q8&+4,.+7,$9( 3%:%3%#.%$( ,"$(
%Q%34F4+"$(VYY 9(VYYZ(%(VY[Y9(-%(4,-,(=;,(-,$(V](%;83%$,$(
que compõem a amostra.
3.3. Análise qualitativa dos dados
2,3,( ,( ,83%4+,5G"( -,$( +#:"3;,5P%$( -+7=&*,-,$( %;( 4,-,(
=;,(-,$(-%;"#$.3,5P%$(4"#.1/%+$(:"+(=.+&+I,-"("(;S."-"(-%#";+#,-"( E#1&+$%( -%( !"#.%d-"C( ^( 83"4%$$"( -%( ,#1&+$%( -%(
4"#.%d-"( :"+( 3%,&+I,-"( 4";( /,$%( #,$( $%*=+#.%$( %.,8,$a( A+D(
3%4"3.%( -%( 4"#.%d-"\( A++D( -%:+#+5G"( -,$( 4,.%*"3+,$( ,#,&F.+4,$\(
%( A+++D( 4,.%*"3+I,5G"( :+#,&( -,$( =#+-,-%$( -%( ,#1&+$%( Ac,7+&&%( e(
R+"##%9( [ZZZDC( E( %.,8,( -%:+#+-,( 4";"( 3%4"3.%( -%( 4"#.%d-"(
:"+( $=8%3,-,( ,( 8,3.+3( -,( 4"&%.,( -"$( -%;"#$.3,.+7"$( :+#,#4%+3"$(4"#:"3;%(-%$43+."(,#.%3+"3;%#.%C(E(-%:+#+5G"(-,$(4,.%*"3+,$(,#,&F.+4,$9("=($%6,9(,(43+,5G"(-%(8,3T;%.3"$(8,3,(H=%(,$(
4";8,#'+,$("/6%."(-%$.%(%$.=-"($%6,;(4";8,3,-,$(%(4&,$$+:+4,-,$9( :"+( 3%,&+I,-,( 4";( /,$%( #,( .+8"&"*+,( ,83%$%#.,-,( #"(
f=,-3"( [C( E( .%34%+3,( %( d&.+;,( %.,8,( -,( ,#1&+$%( -%( 4"#.%d-"(
4"#$+$.+=( #"( %#H=,-3,;%#."( -,$( 4";8,#'+,$( ,#,&+$,-,$( -%(
,4"3-"(4";(,$(4&,$$%$(+#-+4,-,$C
Quadro 1: Definição das categorias analíticas para a
análise de conteúdo dos demonstrativos financeiros.
!&,$$+:+4,5G"
R%:+#+5G"
E&'%+,$
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8"3.,#."9(#G"(:"3,;(#%4%$$13+"$(,6=$.%$C
!";8,#'+,$(H=%($%(-%4&,3,;(,:%.,-,$(8%&,$(#"3E:%.,-,$( H=%( #G"(
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-+7=&*,;
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E:%.,-,$( H=%( -+- !";8,#'+,$(H=%(,-%3+3,;(W$(#"7,$(#"3;,$9(+#7=&*,;
4&=$+7%(W$(-%(.3,#$+5G"C
U(L"+(=.+&+I,-,(4";"(3%:%3O#4+,(,(4&,$$+:+4,5G"(gM+-%3=3(e(@%.,&=3h(,.3+/=F-,(8%&,(/,$%(-%(-,-"$(N4"#";1.+4,(W$(%;83%$,$(-"($%."3(-%($+-%3=3*+,(%(;%.,&=3*+,C
b(N#.%#-%J$%(4";"(4"#4+&+,5G"(,(-%;"#$.3,5G"(-"$(%:%+."$(-,(.3,#$+5G"9(-%4"33%#.%$(-%(4,-,(3=/3+4,9(#"(8,.3+;<#+"(&FH=+-"(%(#"(3%$=&.,-"9(4=6,(-+7=&*,5G"($%(:,I+,(
"/3+*,.>3+,9(%;(#".,$(%Q8&+4,.+7,$(W$(-%;"#$.3,5P%$(:+#,#4%+3,$(-"(%Q%34F4+"(VYY 9(8"3(:"35,(-"(+.%;(Ù(-"(23"#=#4+,;%#."(!2!([_9(,83"7,-"(8%&,(R%&+/%3,5G"(!?@(
#C(ÙìY C
27
38 - 14,
37,
47, maio/ago. 2012
06/09/2012 19:09:20
C
CRCRJ !"#$%&'"()%*+"#,&(-%(!"#.,/+&+-,-%(-"()0
Pensar !"#.1/+&(
3.4. Análise quantitativa dos dados
2,3,(+#7%$.+*,3(,$(-+:%3%#5,$(%#.3%("$(7,&"3%$(-,$(7,3+17%+$(A8,.3+;<#+"(&FH=+-"9(&=43"(&FH=+-"(%()^ND9(,8=3,-"$(,#.%$(%(-%8"+$(
-"(3%4"#'%4+;%#."(-"$(%:%+."$(-%(4,-,(%.,8,(-%(.3,#$+5G"9(:"+(=.+&+I,-"("($":.B,3%(M2MM(7C([b(8,3,(,(,8&+4,5G"(-%(.%$.%$(-%(
-+:%3%#5,$(-%(;S-+,$C(N;83%*"=J$%("(.%$.%(-%(j+&4"Q"#9(,&.%3#,.+7,(#G"(8,3,;S.3+4,(H=%9(8"3(#G"(3%H=%3%3("(83%$$=8"$."(-,(
#"3;,&+-,-%(-,(-+$.3+/=+5G"(-"$(-,-"$(%#7"&7+-"$9(;"$.3"=J$%(,-%H=,-,(%;(:=#5G"(-,(H=,#.+-,-%(-%("/$%37,5P%$(-+$8"#F7%+$C
E&S;(-"$(.%$.%$(+#:%3%#4+,+$9(=.+&+I"=J$%(=;,(:"3;,(,-,8.,-,(-"(k#-+4%(-%(!"#$%37,-"3+$;"(AK!D(-%(l3,m(A[Z YDC(E$$+;9("(
F#-+4%(8,3,(,(.3,#$+5G"(%#.3%(8,-3P%$(4"#.1/%+$(:"+(4,&4=&,-"(-,($%*=+#.%(:"3;,a
^(K!9(4"#:"3;%(-%$43+."(#,(%H=,5G"(,4+;,9(8%3;+.%(H=%("$(8,-3P%$($%6,;(4";8,3,-"$C(E$$+;9($%(K!(S(;,+"3(H=%([9(%#.G"(
"(8,.3+;<#+"(&FH=+-"("=(&=43"(&FH=+-"(,8=3,-"(#"(8,-3G"(,#.%3+"3(A/,$%(+D(S($=8%3+"3(,"(,8=3,-"(#"(#"7"(8,-3G"(A/,$%(6D9("(H=%(
$+*#+:+4,(H=%(%$.%(d&.+;"(S(;,+$(4"#$%37,-"3(H=%("(83+;%+3"C(R%(;"-"(,#1&"*"9($%(K!(S(;%#"3(H=%([9(%#.G"("(8,.3+;<#+"(&FH=+-"(
"=(&=43"(&FH=+-"(,8=3,-"(#"(8,-3G"(,#.%3+"3(A/,$%(+D(S(+#:%3+"3(,"(,8=3,-"(#"(#"7"(8,-3G"(A/,$%(6D9("(H=%($+*#+:+4,(H=%(%$.%(d&.+;"(
é menos conservador que o primeiro.
2,3,(,(%Q%4=5G"(-"$(.%$.%$(:"3,;(,-".,-,$(,$($%*=+#.%$(;S.3+4,$(%(F#-+4%$(4"#.1/%+$(A7,3+17%+$Da
(a) Patrimônio Líquido (PL) e Lucro Líquido (LL): Os testes estatísticos comparam cada uma das métricas, de cada período
-%(3%:%3O#4+,(AVYY (%(VYYZD9(4"33%$8"#-%#.%$(,"$(7,&"3%$(,#.%$(%(-%8"+$(-,(,-"5G"(-"(#"7"(8,-3G"(4"#.1/+&\(
(b) Retorno sobre o patrimônio Líquido (ROE)a(2,3,("(%Q%34F4+"(-%(VYYZ9(4";83%%#-%(,(3,IG"(%#.3%("(&=43"(&FH=+-"(-%(VYYZ(
%(,(;S-+,(,3+.;S.+4,(%#.3%("(8,.3+;<#+"(&FH=+-"(-"$(%Q%34F4+"$(-%(VYY (%(VYYZ9(8,3,(4,-,(8,-3G"(4"#.1/+&(,#,&+$,-"(A/,$%DC(
2,3,("(%Q%34F4+"(-%(VYY 9(4"33%$8"#-%(W(3,IG"(%#.3%("(&=43"(&FH=+-"(-%(VYY (%("(8,.3+;<#+"(&FH=+-"(-%(VYY 9(8,3,(4,-,(
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#"(8%3F"-"(%(:"+(,-".,-,(%;(7+3.=-%(-,(,=$O#4+,(-%($,&-"$(-"(%Q%34F4+"(VYYb(3%8"3.,-"$(#"(8,-3G"(-,(83+;%+3,(:,$%(An,$%(
VDC(!";(,(,8&+4,5G"(-%(.%$.%$(%$.,.F$.+4"$($"/3%("(3%."3#"($"/3%("(8,.3+;<#+"(&FH=+-"(A)^ND(7+$,J$%(,.%#=,3(,(+#:&=O#4+,(-"(
%:%+."(8"3.%($"/3%("$(3%$=&.,-"$C(
2,3,(7%3+:+4,3("(+;8,4."(-,(,-"5G"(-,$(#"3;,$(+#.%3#,4+"#,+$($"/3%("($%."3(-%($+-%3=3*+,(%(;%.,&=3*+,(:"3;=&"=J$%(,($%*=+#.%(
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4. RESULTADOS
4.1. Análise Qualitativa
^(83"4%$$"(-%(,#1&+$%(-%(4"#.%d-"(-,$(+#:"3;,5P%$(-+7=&*,-,$(#,$(-%;"#$.3,5P%$(4"#.1/%+$(-,$(%;83%$,$(-"($%."3(-%($+-%3=3*+,(%(;%.,&=3*+,9(H=%(4"#$+$.+=(#,(4"&%.,(-"$(-,-"$(%(4&,$$+:+4,5G"9(-%(,4"3-"(4";(,(.+8"&"*+,(-%$43+.,(#,(;%."-"&"*+,9(%$.1(
resumido a seguir.
Pensar
Pensar
Contábil,
Contábil,
Rio Rio
de Janeiro,
de Janeiro,
v. 14,
v. 14,
n. 54,
n. 54,
p. 04
27
p. -38
37,- 47,
14,
maio/ago.
maio/ago.
2012
2012
Z
06/09/2012 19:09:20
Pensar !"#.1/+&(
CRCRJ !"#$%&'"()%*+"#,&(-%(!"#.,/+&+-,-%(-"()0
Tabela 1: Distribuição de frequências do nível de divulgação dos efeitos de cada fase de transição.
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$+$.%;,$(%(83"4%$$"$\(A++D("(-%$83%8,3"(-"$(83":+$$+"#,+$(%#7"&7+-"$(A+#%Q8%3+O#4+,(%i"=(:,&.,(-%(4"#'%4+;%#."D\(%(A+++D("(8"=4"(
.%;8"( 4"#4%-+-"( 8,3,( H=%( ,$( 4";8,#'+,$( ,$$+;+&,$$%;( "$(
#"7"$( 8,-3P%$\( $%#-"( %$.%( d&.+;"( =;( :,."3( 3%&%7,#.%( 8,3,( "(
4,$"(/3,$+&%+3"9(4"#:"3;%(,$$+#,&,-"(,#.%3+"3;%#.%(AKEs)KRKM(
%()^t?^cKM9(VY[Y\(M^tuE(%(!^tsKXo^(LKco^9(VYYbDC
E( &%+.=3,( +#.%*3,&( %( 4";8,3,.+7,( -"$( 3%&,.>3+"$( :+#,#4%+3"$(
-+7=&*,-"$( 8%&,$( 4";8,#'+,$( -"( $%."3( 8,3,( "$( %Q%34F4+"$(
4";83%%#-+-"$(%#.3%(VYY (%(VY[Y9(8%3;+.+=(H=%(:"$$%;(+-%#.+:+4,-"$( ,&*=#$( 83"/&%;,$( %$8%4F:+4"$( -%( -+7=&*,5G"9( %#.3%(
os quais se destacam:
(a) Contradição entre as demonstrações financeiras relativas ao exercício 2009 e as relativas ao exercício
2010C(t;,(-,$(4";8,#'+,$(4&,$$+:+4,-,$(4";"(,&'%+,$(
3%&,."=9( #,$( RL$( -%( VYYZ9( H=%( "$( 83"#=#4+,;%#."$( %(
+#.%383%.,5P%$( %;+.+-"$( #"( 4=3$"( -,H=%&%( %Q%34F4+"(
$";%#.%( $%3+,;( ,-".,-"$( 8,3,( ,( %&,/"3,5G"( -%( $=,$(
-%;"#$.3,5P%$(:+#,#4%+3,$(,(8,3.+3(-%(VY[Y9(4";(,8&+4,5G"(3%.3"$8%4.+7,(#"(H=%(4"=/%$$%C(E8%$,3(-%$$,(,:+3;,5G"9(#,$(RL$(VY[Y9(-+7=&*"=(H=%(61(7+#',(,-".,#-"9(
-%$-%("(%Q%34F4+"(VYYZ9("$(83"#=#4+,;%#."$(!2!(%;+.+-"$(%;(VYYZ(%(VY[Y9("(H=%(,(-+$8%#$,7,(-%(3%,83%$%#.,3("$(/,&,#5"$(-%(VYYZ($"/("(#"7"(8,-3G"C
(b) Desconhecimento da norma de adoção inicial Pronunciamento CPC 13C( N#.3%( ,$( 4";8,#'+,$( #G"( ,:%.,-,$9( :"+( +-%#.+:+4,-"( "( 4,$"( -%( =;,( 4";8,#'+,( H=%(
,:+3;,(.%3(,-".,-"(,(R%&+/%3,5G"(!?@(#C(`YUiYU(A231.+4,$( !"#.1/%+$9( @=-,#5,$( #,$( N$.+;,.+7,$( !"#.1/%+$(
%(!"33%5G"(-%(N33"$D($%;(.%3(:%+."(H=,&H=%3(;%#5G"(,"(
23"#=#4+,;%#."(!2!([_9(H=%(.3,.,(%$8%4+:+4,;%#.%(-,(
,-"5G"(+#+4+,&(-,$(#"3;,$(-,(83+;%+3,(%.,8,(-"(83"4%$-
10 Pensar Contábil, Rio de Janeiro, v. 14, n. 54, p. 04
27
38 - 14,
37,
47, maio/ago. 2012
06/09/2012 19:09:21
C
Pensar !"#.1/+&(
CRCRJ !"#$%&'"()%*+"#,&(-%(!"#.,/+&+-,-%(-"()0
$"(-%(4"#7%3*O#4+,C(s,&(4";8,#'+,(.,;/S;(#G"(-+7=&*,( ,( -,.,( ,-".,-,( 8,3,( ,( .3,#$+5G"( W$( #"7,$( #"3;,$C(
2%34%/%J$%9(,$$+;9(H=%(,(#"3;,(-%(,-"5G"(+#+4+,&(#G"(
%3,(4"#'%4+-,("=($+;8&%$;%#.%(:"+(-%$3%$8%+.,-,9("(H=%(
&%7,(W(+;%-+,.,(H=%$.G"($"/3%("(,.%#-+;%#."(W$(-%;,+$(
#"3;,$(-%(.3,#$+5G"C
(c) Divulgação dos ajustes (conciliação) apenas para o
patrimônio líquido. Determinada empresa, apesar de
4&,$$+:+4,-,( %#.3%( ,$( ,:%.,-,$( H=%( -+7=&*,;9( ,83%$%#."=9(%;(#".,(%Q8&+4,.+7,(W$(-%;"#$.3,5P%$(-%(VYY 9("$(
%:%+."$(-%4"33%#.%$(-,(,-"5G"(-"$(#"7"$(8,-3P%$(4"#.1/%+$( ,8%#,$( 8,3,( "( 8,.3+;<#+"( &FH=+-"( %( #G"( 8,3,( "(
3%$=&.,-"9(,8%$,3(-%(-%4&,3,3(H=%(g."-"$("$(,6=$.%$(4";(
+;8,4."( #"( 3%$=&.,-"( :"3,;( %:%.=,-"$( 4"#.3,( &=43"$( %(
83%6=FI"$( ,4=;=&,-"$hC( R%$.,( :"3;,9( 8%34%/%J$%( -+$43%8T#4+,(%#.3%("$(,6=$.%$(H=%(,(4";8,#'+,(,:+3;,(.%3(
%:%.=,-"(%(,H=%&%$(H=%($G"(%:%.+7,;%#.%(-+7=&*,-"$C
E8%$,3( -"$( 83"/&%;,$( -%( -+7=&*,5G"( +-%#.+:+4,-"$9( -%$.,4,J$%( H=%( "$( 8,3%4%3%$( -%( ,=-+."3+,( H=%( ,4";8,#',;( ,$(
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3%$$,&7,( #%$$%( $%#.+-"9( 4";( %Q4%5G"( -%( =;( d#+4"( 8,3%4%3(
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-,(,-"5G"(-"(4=$."(,.3+/=F-"(Adeemed costD(4";"(%&%;%#."(
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,8%#,$( #"7%( A_ qD( ,83%$%#.,3,;( ,( .,/%&,( -%( 4"#4+&+,5G"9(
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23"#=#4+,;%#."( !2!( [_C( ^$( 3%$=&.,-"$( -%;"#$.3,;( H=%( "(
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%(]_D(:"+(;,+"3(%;(3%&,5G"(,"(H=%(:"+(#".,-"(8,3,(,(83+;%+3,(
%.,8,(A23"#=#4+,;%#."(!2!([_D9(8"+$([](AUbq(-"(.".,&D(4";8,#'+,$( ,83%$%#.,3,;( "$( /,&,#5"$( 8,.3+;"#+,+$( 3%:%3%#.%$(
,"$( %Q%34F4+"$( VYY 9( VYYZ( %( VY[Y( #"( 8,-3G"( KL)MC( E8%#,$(
=;,( 4";8,#'+,( -%$4=;83+=( %$$%( #"3;,.+7"9( ,83%$%#.,#-"(
$";%#.%("$(/,&,#5"$(-%(VYYZ(%(VY[Y(#"(#"7"(8,-3G"9("(H=%(
6=$.+:+4,(,(-+:%3%#5,(%#.3%(,$(4"&=#,$(2ª fase e Completo, que
8"$$=%;([`(%([]("/$%37,5P%$9(3%$8%4.+7,;%#.%C(
4.2. Análise quantitativa dos impactos nas
métricas e índices
4.2.1. Resultados para a primeira fase de convergência
^$(3%$=&.,-"$(-"$(.%$.%$(-%(;S-+,$(8,3,(,(83+;%+3,(:,$%(-%(
.3,#$+5G"(A2,+#%&(V(-,(s,/%&,(VD(-%;"#$.3,;(H=%("$(+;8,4."$(
-%$$,( %.,8,( #G"( :"3,;( $+*#+:+4,.+7"$( A,4%+.,J$%( o0D( 8,3,( ,$(
7,3+17%+$(&=43"(&FH=+-"(VYY (Acc(VYY D(%(8,3,(,(proxy retorno
$"/3%(8,.3+;<#+"(&FH=+-"(VYY (Aproxy()^N(VYY D9("=($%6,9('1(
83"/,/+&+-,-%(%$.,.+$.+4,;%#.%($+*#+:+4,#.%(-%(H=%(,$(;S-+,$9(
4,&4=&,-,$(8,3,(4,-,(7,3+17%&(,#.%$(%(-%8"+$(-,(,-"5G"(-"$(
#"7"$( 8,-3P%$9( $%6,;( +*=,+$C( 2"3( "=.3"( &,-"9( ,( 7,3+17%&( 2c(
VYY (A8,.3+;<#+"(&FH=+-"(-"(%Q%34F4+"(VYY D(,83%$%#."=(=;,(
-+:%3%#5,(%$.,.+$.+4,;%#.%($+*#+:+4,.+7,(A,"(#F7%&(-%([YqD9(3%6%+.,#-"(o0.
E8%$,3( -%$$%$( 3%$=&.,-"$( 8,3,( "$( .%$.%$( -%( ;S-+,$9( ,$(
7,3+17%+$( cc( VYY ( %( proxy( )^N( VYY ( $":3%3,;( -%43S$4+;"(
;S-+"( -%( `9_q( %( U 9Vq9( 3%$8%4.+7,;%#.%C( 01( ,( 7,3+17%&( 2c(
VYY ( $":3%=( 3%-=5G"( ;S-+,( -%( [U9[q9( $%#-"( H=%( "( ,6=$.%(
H=%(;,+$(+;8,4."=(#%*,.+7,;%#.%("(8,.3+;<#+"(&FH=+-"(VYY (
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3%$%37,9( *%3,#-"(=;( ,6=$.%( H=%9( 4"#$+-%3,-"(+$"&,-,;%#.%9(
3%83%$%#.,(ZZq(-"(.".,&(-"(,6=$.%(#%*,.+7"(3%8"3.,-"(8%&"($%."3C(R%$4"#$+-%3,#-"J$%(.,&(%;83%$,9(,(3%-=5G"(;S-+,(S(-%(
Y9VqC(M,#."$(%(!,&+Q."(AVY[YD(%(l3%44"9(l%3"#(%(L"3;+*"#+(
AVYYZD9( %;( %$.=-"$( 4";( /,$%$( ,;"$.3,+$( -+$.+#.,$9( .,;/S;(
+-%#.+:+4,3,;( ,6=$.%$( $+*#+:+4,.+7"$( -%4"33%#.%$( -,( 83"+/+5G"(
-,(3%,7,&+,5G"(-%(,.+7"$C
R,( ,#1&+$%( -"( 2,+#%&( ]( -,( s,/%&,( V9( .%;J$%( H=%( ,8%#,$(
=;,(%;83%$,(-+7=&*"=(,6=$.%(8"$+.+7"(8,3,("(2c(VYY 9("(H=%(
:"+(-%4"33%#.%(-"$(,6=$.%$(,(7,&"3(83%$%#.%(-%(,.+7"$(%(8,$$+7"$(;"#%.13+"$(A!2![VD9(d#+4"(+;8,4."(-%(.3,#$+5G"(3%8"3.,-"( 8%&,( %;83%$,C( R=,$( %;83%$,$9( %#.3%( ,$( "+."( ,#,&+$,-,$9(
,83%$%#.,3,;(,6=$.%$(8"$+.+7"$(8,3,(,(7,3+17%&(cc(VYY C(t;,(
-%&,$(-+7=&*"=(H=%("$(3%$8"#$17%+$(:"3,;("$(,6=$.%$(,(7,&"3(
-%( ;%34,-"( -%( +#$.3=;%#."$( :+#,#4%+3"$( %( -%3+7,.+7"$( A23"#=#4+,;%#."( !2!( []D( %( "( %$."3#"( -,( -%83%4+,5G"( ,( ;,+"3(
-%4"33%#.%(-,(3%,7,&+,5G"(A,3.C(Uv(-,(c%+(#C([[CU_ iYbDC(E("=.3,(
%;83%$,(,.3+/=+=(.,+$(,6=$.%$(8"$+.+7"$(W(7,3+,5G"(4,;/+,&(-%(
%;83S$.+;"$(%(:+#,#4+,;%#."$(A23"#=#4+,;%#."(!2!(YVDC
E$( %$.,.F$.+4,$( -%$43+.+7,$( -"( F#-+4%( -%( 4"#$%37,-"3+$;"(
A2,+#%&(_(-,(s,/%&,(VD(4"#:+3;,;9(8,3,("($%."3(-%($+-%3=3*+,(%(
;%.,&=3*+,(/3,$+&%+3"9("(4"#$%37,-"3+$;"(-"(8,-3G"(-,(83+;%+3,(%.,8,(-%(.3,#$+5G"(An,$%(VD(%;(3%&,5G"(,"(8,-3G"(,#.%3+"3(
An,$%( [D9( .,;/S;( 7%3+:+4,-"( #"$( %$.=-"$( -%( M,#."$( AVY[YD9(
M,#."$(%(!,&+Q."(AVY[YD(%(l3%44"9(l%3"#(%(L"3;+*"#+(AVYYZDC
4.2.2. Resultados para a segunda fase de convergência
2,3,( ,( $%*=#-,( :,$%( -%( .3,#$+5G"9( "$( .%$.%$( -%( ;S-+,$(
A2,+#%&( V( -,( s,/%&,( VD( 3%7%&,;( +;8,4."$( $+*#+:+4,.+7"$( 8,3,(
,$(7,3+17%+$(8,.3+;<#+"(&FH=+-"(VYY (A2c(VYY D(%(8,.3+;<#+"(&FH=+-"(VYYZ(A2c(VYYZD9(,;/"$(,"(#F7%&(-%($+*#+:+4T#4+,(-%(`qC(
E('+8>.%$%(#=&,(o0(.,;/S;(S(3%6%+.,-,(8,3,(,(7,3+17%&(3%."3#"(
$"/3%(8,.3+;<#+"(&FH=+-"(VYYZ(A)^N(VYYZD9(;,$(,"(#F7%&(-%(
$+*#+:+4T#4+,(-%([YqC(2"3("=.3"(&,-"9(,(7,3+17%&(cc(VYYZ(A&=43"(
&FH=+-"(-"(%Q%34F4+"(VYYZD(#G"(,83%$%#."=(=;,(-+:%3%#5,(%$.,.+$.+4,;%#.%($+*#+:+4,.+7,C
E$(7,3+17%+$(2c(VYY (%(2c(VYYZ(:"3,;(,43%$4+-,$(%;(`9V(%(
Z9[q(A2,+#%&([(-,(s,/%&,(VD9(3%$8%4.+7,;%#.%9(4";"(%:%+."(-%(
.3,#$+5G"(-"(8,-3G"(-,(83+;%+3,(%.,8,(An,$%(VD(8,3,("(8,-3G"(
KL)M(An,$%(_DC(R%7+-"(W(/,+Q,(H=,&+-,-%(-,$(-+7=&*,5P%$(-%(
.3,#$+5G"( 8,3,( "( $%."39( 4"#:"3;%( 4"#$.,.,-"( ,#.%3+"3;%#.%9(
#G"( :"+( 8"$$F7%&( ;%-+3( 4";( 83%4+$G"( "$( +;8,4."$( -%( 4,-,(
#"3;,\(%#.3%.,#."9(,(,#1&+$%(-%(4,-,(-%;"#$.3,5G"(:+#,#4%+3,(8%3;+.+=(4"#$.,.,3(H=%(,(,-"5G"(-"(7,&"3(6=$."(-"$(,.+7"$(
+;"/+&+I,-"$(4";"(4=$."(,.3+/=F-"(A23"#=#4+,;%#."(!2!(VbD9(
.%#-"(4";"(4"#.3,8,3.+-,(,(4"#.,(E6=$.%(-%(E7,&+,5G"(2,.3+;"#+,&9(-"(8,.3+;<#+"(&FH=+-"9(:"+(=;,(-,$(83+#4+8,+$(4,=$,$(
-"$(,43S$4+;"$(-%(.3,#$+5G"(8,3,(,$(7,3+17%+$(2c(VYY (%(2c(
( ^(,3.C(Uv(-,(c%+(#C([[CU_ iYb(:,4=&."=(W$(%#.+-,-%$a(A+D(,(;,#=.%#5G"(-"$($,&-"$(%Q+$.%#.%$(#,$(3%$%37,$(-%(3%,7,&+,5G"(,.S(,($=,(%:%.+7,(3%,&+I,5G"9("=(A++D(%$."3#1J&"$(
,.S("(:+#,&(-"(%Q%34F4+"($"4+,&(-%(VYY C
Pensar
Pensar
Contábil,
Contábil,
Rio Rio
de Janeiro,
de Janeiro,
v. 14,
v. 14,
n. 54,
n. 54,
p. 04
27
p. -38
37,- 47,
14,
maio/ago.
maio/ago.
2012
2012
11
06/09/2012 19:09:21
Pensar !"#.1/+&(
CRCRJ !"#$%&'"()%*+"#,&(-%(!"#.,/+&+-,-%(-"()0
VYYZ9(4";(-%$.,H=%(8,3,(%$.,(d&.+;,9(=;,(7%I(H=%(,(;,+"3+,(-,$(%;83%$,$(,-"."=([v(-%(6,#%+3"(-%(VYYZ(4";"(-,.,(/,$%(8,3,(
,-"5G"(+#+4+,&(-"(4=$."(,.3+/=F-"C
R,(,#1&+$%(-"(2,+#%&(](-,(s,/%&,(V9(.%;J$%(H=%(."-,$(,$(4";8,#'+,$(,#,&+$,-,$(3%8"3.,3,;(,6=$.%$(8"$+.+7"$(8,3,(,(7,3+17%&(
2c(VYY C(01(%;(3%&,5G"(W(7,3+17%&(2c(VYYZ9(-,$([`(%;83%$,$(+#7%$.+*,-,$9(,8%#,$(.3O$(,83%$%#.,3,;(,6=$.%$(#%*,.+7"$C(N;(-=,$(
-%$$,$(%;83%$,$(H=%(-+7=&*,3,;(,6=$.%$(#%*,.+7"$(#G"(:"+(8"$$F7%&(,#,&+$,3(,$(4,=$,$(-%$$%$(,6=$.%$9(8"+$(#G"(:"3,;(,83%$%#.,-,$(4"#4+&+,5P%$(-%.,&',-,$(8,3,(,(.3,#$+5G"(-"(&=43"(&FH=+-"(#"(8,-3G"(,#.%3+"3(An,$%(VD(8,3,("(#"7"(8,-3G"(An,$%(_DC(t;,(-,$(
%;83%$,$(-+7=&*"=(,(4"#4+&+,5G"(-%.,&',-,(-"$(,6=$.%$(#%*,.+7"$(8,3,("(2c(VYYZ(%(,(6=$.+:+4,.+7,(,83%$%#.,-,(8,3,(,(-+;+#=+5G"(:"+(
"(4=;83+;%#."(-"(23"#=#4+,;%#."(!2!(_V(A.3,.,;%#."(4"#.1/+&(8,3,(.3+/=."$(+#4+-%#.%$($"/3%("(&=43"D9(H=%(-%.%3;+#,("(3%4"#'%4+;%#."(-"(+;8"$."(-%(3%#-,(%(4"#.3+/=+5G"($"4+,&(-+:%3+-"$($"/3%(,(3%,7,&+,5G"(-%(.%33%#"$(#,(;%-+-,(%;(H=%($%(3%,&+I%;(8"3(7%#-,C(
E$(7,3+17%+$(cc(VYYZ(%()^N(VYYZ($%*=+3,;(.%#-O#4+,(4"#.313+,9(7+$."(H=%($":3%3,;(3%-=5P%$(;S-+,$(-%([9`(%([_bq(A2,+#%&([(
-,(s,/%&,(VD9(3%$8%4.+7,;%#.%C(R,$([V(%;83%$,$(,#,&+$,-,$9($%+$(,83%$%#.,3,;(,6=$.%$(#%*,.+7"$(8,3,(,(;S.3+4,(cc(VYYZ9("=.3,$(
$%+$9(8"$+.+7"$(A2,+#%&(](-,(s,/%&,(VDC(@%$;"(%;(;%+"(,"$(83"/&%;,$(-%(-+7=&*,5G"9(:"+(8"$$F7%&($%&%4+"#,3(,$(83+#4+8,+$(4,=$,$(
8,3,("$(,6=$.%$9(H=%(:"3,;a(A+D(,(4"#$.+.=+5G"(-%(83"7+$P%$(%;("/%-+O#4+,(,"(!2!(V`\(A++D(,(3%4&,$$+:+4,5G"(-%(,.+7"$(/+"&>*+4"$(
%("(3%4"#'%4+;%#."(8%&"(7,&"3(6=$."(A!2!(VZD\(A+++D(,-"5G"(-"(!2!(Vb(r(K;"/+&+I,-"9(+#4&=+#-"(,(,-"5G"(-"(4=$."(,.3+/=F-"(%(,(
3%4&,$$+:+4,5G"(-%(83"83+%-,-%$(8,3,(+#7%$.+;%#."\(%(A+7D(,6=$.%$(-%4"33%#.%$(-,(,8&+4,5G"(-"(!2!([Z(r(2,3.+4+8,5G"(-%(N;83%%#-+;%#."(!"#.3"&,-"(%;(!"#6=#."C(
N#.3%(,$([V(4";8,#'+,$(H=%(.+7%3,;(,(;S.3+4,(cc(VYYZ(,#,&+$,-,9([Y(-+7=&*,3,;($=,$(#".,$(%Q8&+4,.+7,$(%;(:"3;,."(H=%(#G"(
]_4,-,(3=/3+4,(-,(4"#4+&+,5G"(S(,$$"4+,-,(;,+$(-%(=;,(#"3;,(+;8,4.,#.%9("(H=%(3%83%$%#."=(=;,(&+;+.,5G"(,"(-%$%#7"&7+;%#."(
-"(83%$%#.%(%$.=-"(%(3%:"35,("$(83"/&%;,$(-%(%7+-%#4+,5G"(3%8"3.,-"$(,#.%3+"3;%#.%(#"$(3%$=&.,-"$(-,(,#1&+$%(H=,&+.,.+7,C
Tabela 2: Resultados dos testes quantitativos para os efeitos de cada fase de transição ao IFRS.
Painel 1a( R%$43+5G"( -,$( 7,3+- [p(:,$%
17%+$( A%;( ;+&',3%$( -%( 3%,+$9(
2c(VYY
%Q4%."(8,3,("$(F#-+4%$D
Vp(:,$%
!";8&%."
cc(VYY
2)^N(VYY
2c(VYY
2c(VYYZ
cc(VYYZ
)^N(VYYZ
2c(VYY
?,&"3( ;S-+"( antes do novo
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8,-3G"
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[CUU CU`Y
__]CZbU
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E6=$.%(;S-+"
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JY9YZb
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q(A,6=$.%(÷ antes do novo paJ[U9[q
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38 - 14,
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Pensar
Pensar
Contábil,
Contábil,
Rio Rio
de Janeiro,
de Janeiro,
v. 14,
v. 14,
n. 54,
n. 54,
p. 04
27
p. -38
37,- 47,
14,
maio/ago.
maio/ago.
2012
2012
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5. CONCLUSÕES
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13
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REFERÊNCIAS
HIFGEJ<(K'.#"1A'(L"&",01(&"(K'.$08-1-&0&"<(I"#'1%?B'(KLK(.M( <NOOPNO<
KFJEQRS*(J0%,0<(F.31-#"(&0#(="#:%-#0#(/'2(L'/'(.'#(E2+0/$'#(&0(F&'?B'(&'(ELIG("2(=0T#"#(U%,'+"%#<(I"5-#$0(K'.$08-1-&0&"(
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! Pensar Contábil, Rio de Janeiro, v. 14, n. 54, p. 04
27
38 - 14,
37,
47, maio/ago. 2012
06/09/2012 19:09:21
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