IAS 41 and biological assets in Brazil: is the information really useful?
Autor(a) principal: | |
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Data de Publicação: | 2023 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng por |
Título da fonte: | Revista Catarinense da Ciência Contábil (Online) |
Texto Completo: | https://revista.crcsc.org.br/index.php/CRCSC/article/view/3365 |
Resumo: | Brazil is one of the emerging countries that has adopted the IFRS, and agribusiness plays a relevant role in the Brazilian economy, turning the country into an important player in the review and discussion process of international standards. The objective of this paper is to assess whether IAS 41 contributes to the enhancement of the quality of accounting information, given that the measure that was previously used was historical cost, with no changes in the future economic benefits being disclosured, resulting in low-quality information. To analyse agribusiness companies’ financial statements, five analysis sections were created: disclosure in the notes; value relevance; timeliness of fair value information on biological assets; earnings management; and experts’ opinion of the quality of the information on the biological assets. The results reveal that: there have been improvements in the compulsory disclosure required by IAS 41, but this disclosure is not yet suitable; variations in the fair value of biological assets are value-relevant, but not for bearer plants; the information on biological assets is not timely; there are signs of earnings management by companies with lower disclosure levels; analysts consider that non-financial information may be prepared more useful. No study was found in the literature that considered the combination of the level of disclosure of the notes to the financial statements, the value relevance, the timeliness of the fair value information, earnings management and analysts’ opinions. |
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IAS 41 and biological assets in Brazil: is the information really useful?IAS 41 and biological assets in Brazil: is the information really useful?Biological assetsIAS 41Accounting information qualityFair valueAgribusinessAgribusinessBiological assetsIAS 41Accounting information qualityFair valueBrazil is one of the emerging countries that has adopted the IFRS, and agribusiness plays a relevant role in the Brazilian economy, turning the country into an important player in the review and discussion process of international standards. The objective of this paper is to assess whether IAS 41 contributes to the enhancement of the quality of accounting information, given that the measure that was previously used was historical cost, with no changes in the future economic benefits being disclosured, resulting in low-quality information. To analyse agribusiness companies’ financial statements, five analysis sections were created: disclosure in the notes; value relevance; timeliness of fair value information on biological assets; earnings management; and experts’ opinion of the quality of the information on the biological assets. The results reveal that: there have been improvements in the compulsory disclosure required by IAS 41, but this disclosure is not yet suitable; variations in the fair value of biological assets are value-relevant, but not for bearer plants; the information on biological assets is not timely; there are signs of earnings management by companies with lower disclosure levels; analysts consider that non-financial information may be prepared more useful. No study was found in the literature that considered the combination of the level of disclosure of the notes to the financial statements, the value relevance, the timeliness of the fair value information, earnings management and analysts’ opinions.Brazil is one of the emerging countries that has adopted the IFRS, and agribusiness plays a relevant role in the Brazilian economy, turning the country into an important player in the review and discussion process of international standards. The objective of this paper is to assess whether IAS 41 contributes to the enhancement of the quality of accounting information, given that the measure that was previously used was historical cost, with no changes in the future economic benefits being disclosured, resulting in low-quality information. To analyse agribusiness companies’ financial statements, five analysis sections were created: disclosure in the notes; value relevance; timeliness of fair value information on biological assets; earnings management; and experts’ opinion of the quality of the information on the biological assets. The results reveal that: there have been improvements in the compulsory disclosure required by IAS 41, but this disclosure is not yet suitable; variations in the fair value of biological assets are value-relevant, but not for bearer plants; the information on biological assets is not timely; there are signs of earnings management by companies with lower disclosure levels; analysts consider that non-financial information may be prepared more useful. No study was found in the literature that considered the combination of the level of disclosure of the notes to the financial statements, the value relevance, the timeliness of the fair value information, earnings management and analysts’ opinions.Conselho Regional de Contabilidade de Santa Catarina2023-09-12info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdftext/xmlhttps://revista.crcsc.org.br/index.php/CRCSC/article/view/336510.16930/2237-766220233365Revista Catarinense da Ciência Contábil; Vol. 22 (2023): RCCC; e3365Revista Catarinense da Ciência Contábil; v. 22 (2023): RCCC; e33652237-76621808-378110.16930/2237-76622023reponame:Revista Catarinense da Ciência Contábil (Online)instname:Conselho Regional de Contabilidade de Santa Catarina (CRCSC)instacron:CRCSCengporhttps://revista.crcsc.org.br/index.php/CRCSC/article/view/3365/2553https://revista.crcsc.org.br/index.php/CRCSC/article/view/3365/266310.16930/2237-7662202333651Copyright (c) 2023 Revista Catarinense da Ciência Contábilhttps://creativecommons.org/licenses/by/4.0info:eu-repo/semantics/openAccessNardi, Paula Carolina CiampagliaSilva, Ricardo Luiz Menezes da2024-08-22T19:30:19Zoai:ojs.pkp.sfu.ca:article/3365Revistahttp://www.atena.org.br/revista/ojs-2.2.3-06/index.php/crcscPRIhttp://revista.crcsc.org.br/revista/ojs-2.2.3-06/index.php/CRCSC/oai||revista@crcsc.org.br2237-76621808-3781opendoar:2024-08-22T19:30:19Revista Catarinense da Ciência Contábil (Online) - Conselho Regional de Contabilidade de Santa Catarina (CRCSC)false |
dc.title.none.fl_str_mv |
IAS 41 and biological assets in Brazil: is the information really useful? IAS 41 and biological assets in Brazil: is the information really useful? |
title |
IAS 41 and biological assets in Brazil: is the information really useful? |
spellingShingle |
IAS 41 and biological assets in Brazil: is the information really useful? Nardi, Paula Carolina Ciampaglia Biological assets IAS 41 Accounting information quality Fair value Agribusiness Agribusiness Biological assets IAS 41 Accounting information quality Fair value |
title_short |
IAS 41 and biological assets in Brazil: is the information really useful? |
title_full |
IAS 41 and biological assets in Brazil: is the information really useful? |
title_fullStr |
IAS 41 and biological assets in Brazil: is the information really useful? |
title_full_unstemmed |
IAS 41 and biological assets in Brazil: is the information really useful? |
title_sort |
IAS 41 and biological assets in Brazil: is the information really useful? |
author |
Nardi, Paula Carolina Ciampaglia |
author_facet |
Nardi, Paula Carolina Ciampaglia Silva, Ricardo Luiz Menezes da |
author_role |
author |
author2 |
Silva, Ricardo Luiz Menezes da |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Nardi, Paula Carolina Ciampaglia Silva, Ricardo Luiz Menezes da |
dc.subject.por.fl_str_mv |
Biological assets IAS 41 Accounting information quality Fair value Agribusiness Agribusiness Biological assets IAS 41 Accounting information quality Fair value |
topic |
Biological assets IAS 41 Accounting information quality Fair value Agribusiness Agribusiness Biological assets IAS 41 Accounting information quality Fair value |
description |
Brazil is one of the emerging countries that has adopted the IFRS, and agribusiness plays a relevant role in the Brazilian economy, turning the country into an important player in the review and discussion process of international standards. The objective of this paper is to assess whether IAS 41 contributes to the enhancement of the quality of accounting information, given that the measure that was previously used was historical cost, with no changes in the future economic benefits being disclosured, resulting in low-quality information. To analyse agribusiness companies’ financial statements, five analysis sections were created: disclosure in the notes; value relevance; timeliness of fair value information on biological assets; earnings management; and experts’ opinion of the quality of the information on the biological assets. The results reveal that: there have been improvements in the compulsory disclosure required by IAS 41, but this disclosure is not yet suitable; variations in the fair value of biological assets are value-relevant, but not for bearer plants; the information on biological assets is not timely; there are signs of earnings management by companies with lower disclosure levels; analysts consider that non-financial information may be prepared more useful. No study was found in the literature that considered the combination of the level of disclosure of the notes to the financial statements, the value relevance, the timeliness of the fair value information, earnings management and analysts’ opinions. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-09-12 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://revista.crcsc.org.br/index.php/CRCSC/article/view/3365 10.16930/2237-766220233365 |
url |
https://revista.crcsc.org.br/index.php/CRCSC/article/view/3365 |
identifier_str_mv |
10.16930/2237-766220233365 |
dc.language.iso.fl_str_mv |
eng por |
language |
eng por |
dc.relation.none.fl_str_mv |
https://revista.crcsc.org.br/index.php/CRCSC/article/view/3365/2553 https://revista.crcsc.org.br/index.php/CRCSC/article/view/3365/2663 10.16930/2237-7662202333651 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2023 Revista Catarinense da Ciência Contábil https://creativecommons.org/licenses/by/4.0 info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2023 Revista Catarinense da Ciência Contábil https://creativecommons.org/licenses/by/4.0 |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf text/xml |
dc.publisher.none.fl_str_mv |
Conselho Regional de Contabilidade de Santa Catarina |
publisher.none.fl_str_mv |
Conselho Regional de Contabilidade de Santa Catarina |
dc.source.none.fl_str_mv |
Revista Catarinense da Ciência Contábil; Vol. 22 (2023): RCCC; e3365 Revista Catarinense da Ciência Contábil; v. 22 (2023): RCCC; e3365 2237-7662 1808-3781 10.16930/2237-76622023 reponame:Revista Catarinense da Ciência Contábil (Online) instname:Conselho Regional de Contabilidade de Santa Catarina (CRCSC) instacron:CRCSC |
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Conselho Regional de Contabilidade de Santa Catarina (CRCSC) |
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CRCSC |
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CRCSC |
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Revista Catarinense da Ciência Contábil (Online) |
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Revista Catarinense da Ciência Contábil (Online) |
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Revista Catarinense da Ciência Contábil (Online) - Conselho Regional de Contabilidade de Santa Catarina (CRCSC) |
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