Methodological analysis of incompatible EBITDA disclosed by the companies listed in B3: identification of divergent variables in reconciliations
Autor(a) principal: | |
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Data de Publicação: | 2023 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Revista Ambiente Contábil |
Texto Completo: | https://periodicos.ufrn.br/ambiente/article/view/30732 |
Resumo: | Purpose: To identify the variables responsible the methodological differences that cause incompatibilities in the EBITDA disclosed by the companies listed on B3, related to errors in data collection and undue changes in the formula by the reconciliation issuers. Methodology: Application of descriptive statistics on a sample of 35 entities that disclosed the incompatible EBITDA for 2018, observing the behavior of the indicator's variables in the years 2018, 2019 and 2020. Results: The most common calculation errors occurred when collecting data from the financial statements. The variable that most impacted erroneously calculated values was related to depreciation, amortization and depletion. It is concluded that, even with the standardization of the disclosure of EBITDA by the Securities and Exchange Commission of Brazil as of 2012, errors in the calculation of this indicator are still common, which reinforces the need for practical studies that verify the conformity of these companies' non-GAAP disclosures. Contributions of the Study: Considering that non-GAAP performance measures, such as EBITDA, are disseminated worldwide among investors and analysts to analyze corporate results, such measures are at risk of error and manipulation by the issuers' managers. In this sense, the study contributed in the practical sphere because it demonstrated which errors companies effectively made when calculating and demonstrating their EBITDA reconciliations. In addition, it bridges an academic gap concerning the methodology for calculating EBITDA, since even with the growing literature related to non-GAAP disclosures, the method of calculating the indicator has received low attention. |
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Methodological analysis of incompatible EBITDA disclosed by the companies listed in B3: identification of divergent variables in reconciliationsAnálisis metodológico de los EBITDA incompatibles divulgados por las compañías cotizadas en la B3: identificación de las variables divergentes en las conciliacionesAnálise metodológica dos EBITDA incompatíveis divulgados pelas companhias listadas na B3: identificação das variáveis divergentes nas conciliaçõesEBITDAMethodological errorsNon-GAAP measuresEBITDAErros metodológicosMedida não GAAPEBITDA;Contabilidade FinanceiraAnálise das Demonstrações ContábeisEBITDAErrores metodológicosMedida no GAAPPurpose: To identify the variables responsible the methodological differences that cause incompatibilities in the EBITDA disclosed by the companies listed on B3, related to errors in data collection and undue changes in the formula by the reconciliation issuers. Methodology: Application of descriptive statistics on a sample of 35 entities that disclosed the incompatible EBITDA for 2018, observing the behavior of the indicator's variables in the years 2018, 2019 and 2020. Results: The most common calculation errors occurred when collecting data from the financial statements. The variable that most impacted erroneously calculated values was related to depreciation, amortization and depletion. It is concluded that, even with the standardization of the disclosure of EBITDA by the Securities and Exchange Commission of Brazil as of 2012, errors in the calculation of this indicator are still common, which reinforces the need for practical studies that verify the conformity of these companies' non-GAAP disclosures. Contributions of the Study: Considering that non-GAAP performance measures, such as EBITDA, are disseminated worldwide among investors and analysts to analyze corporate results, such measures are at risk of error and manipulation by the issuers' managers. In this sense, the study contributed in the practical sphere because it demonstrated which errors companies effectively made when calculating and demonstrating their EBITDA reconciliations. In addition, it bridges an academic gap concerning the methodology for calculating EBITDA, since even with the growing literature related to non-GAAP disclosures, the method of calculating the indicator has received low attention.Objetivo: Identificar las variables responsables de las diferencias metodológicas que provocan incompatibilidades en los EBITDA divulgados por las compañías cotizadas en la B3, relacionadas a errores en la coleta de datos y a alteraciones indebidas en la fórmula por parte de las entidades emitentes de la conciliación. Metodología: Aplicación de estadística descriptiva sobre una amuestra de 35 entidades que divulgaron el EBITDA incompatible referente a 2018, observando el comportamiento de las variables del indicador en los años de 2018, 2019 y 2020. Resultados: Los errores de apuración más comunes ocurrieron en la coleta de datos juntamente a las demostraciones contables. La variable que más impactó los valores apurados equivocadamente fue relativa a la depreciación, amortización y agotamiento. Concluyese que, mismo con la normalización de la evidencia del EBITDA por la Comisión de Valores Mobiliarios a partir de 2012, aún son comunes los errores de apuración de ese indicador, reforzando la necesidad de estudios prácticos que verifiquen la conformidad de esas divulgaciones no GAAP de las compañías. Contribuciones del Estudio: Considerándose que medidas de desempeño no GAAP, como el EBITDA, son difundidos mundialmente juntamente a inversionistas y analistas para el análisis de los resultados de las compañías, tales medidas esas guardan el riesgo de sufrir con errores y manipulaciones por parte de los gestores de las entidades emitentes. En este sentido, el estudio contribuyó en el ámbito práctico pues demostró cuales errores las compañías efectivamente cometieron a apurar y demostrar sus conciliaciones de EBITDA. Aún más, suple el vacío académico referente a la metodología para calcular el EBITDA, ya que mismo con la literatura creciente relacionada a las divulgaciones no GAAP, la forma de cálculo del indicador tiene recibido poca atención.Objetivo: Identificar as variáveis responsáveis pelas divergências metodológicas causadoras de incompatibilidades nos EBITDA divulgados pelas companhias listadas na B3, relacionadas a erros na coleta de dados e a alterações indevidas na fórmula por parte das entidades emitentes da conciliação. Metodologia: Aplicação de estatística descritiva sobre uma amostra de 35 entidades que divulgaram o EBITDA incompatível referente a 2018, observando o comportamento das variáveis do indicador nos anos de 2018, 2019 e 2020. Resultados: Os erros de apuração mais comuns se deram na coleta de dados junto às demonstrações contábeis. A variável que mais impactou nos valores apurados erroneamente foi relativa à depreciação, amortização e exaustão. Conclui-se que, mesmo com a normatização da evidenciação do EBITDA pela Comissão de Valores Mobiliários a partir de 2012, ainda são comuns erros de apuração desse indicador, o que reforça a necessidade de estudos práticos que verifiquem a conformidade dessas divulgações não GAAP das companhias. Contribuições do Estudo: Considerando que medidas de desempenho não GAAP, como o EBITDA, são difundidos mundialmente junto a investidores e analistas para a análise dos resultados das empresas, tais medidas guardam o risco de sofrer com erros e manipulações por parte dos gestores das entidades emitentes. Neste sentido, o estudo contribuiu no âmbito prático pois demonstrou quais erros as companhias efetivamente cometeram ao apurar e demonstrar suas conciliações de EBITDA. Ainda, supre lacuna acadêmica referente à metodologia de apuração do EBITDA, já que mesmo com a literatura crescente relacionada às divulgações não GAAP, a forma de cálculo do indicador tem recebido pouca atenção.Portal de Periódicos Eletrônicos da UFRN2023-07-04info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://periodicos.ufrn.br/ambiente/article/view/3073210.21680/2176-9036.2023v15n2ID30732REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 15 No. 2 (2023): Jul./Dez.; 19-40REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 15 Núm. 2 (2023): Jul./Dez.; 19-40REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036; v. 15 n. 2 (2023): Jul./Dez.; 19-402176-903610.21680/2176-9036.2023v15n2reponame:Revista Ambiente Contábilinstname:Universidade Federal do Rio Grande do Norte (UFRN)instacron:UFRNporhttps://periodicos.ufrn.br/ambiente/article/view/30732/17132Copyright (c) 2023 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036http://creativecommons.org/licenses/by-nc-sa/4.0info:eu-repo/semantics/openAccessKistner, Shaiane Pisa Platt Neto, Orion Augusto 2024-01-05T10:59:24Zoai:periodicos.ufrn.br:article/30732Revistahttps://periodicos.ufrn.br/ambientePUBhttps://periodicos.ufrn.br/ambiente/oai||prof.mauriciocsilva@gmail.com2176-90362176-9036opendoar:2024-01-05T10:59:24Revista Ambiente Contábil - Universidade Federal do Rio Grande do Norte (UFRN)false |
dc.title.none.fl_str_mv |
Methodological analysis of incompatible EBITDA disclosed by the companies listed in B3: identification of divergent variables in reconciliations Análisis metodológico de los EBITDA incompatibles divulgados por las compañías cotizadas en la B3: identificación de las variables divergentes en las conciliaciones Análise metodológica dos EBITDA incompatíveis divulgados pelas companhias listadas na B3: identificação das variáveis divergentes nas conciliações |
title |
Methodological analysis of incompatible EBITDA disclosed by the companies listed in B3: identification of divergent variables in reconciliations |
spellingShingle |
Methodological analysis of incompatible EBITDA disclosed by the companies listed in B3: identification of divergent variables in reconciliations Kistner, Shaiane Pisa EBITDA Methodological errors Non-GAAP measures EBITDA Erros metodológicos Medida não GAAP EBITDA; Contabilidade Financeira Análise das Demonstrações Contábeis EBITDA Errores metodológicos Medida no GAAP |
title_short |
Methodological analysis of incompatible EBITDA disclosed by the companies listed in B3: identification of divergent variables in reconciliations |
title_full |
Methodological analysis of incompatible EBITDA disclosed by the companies listed in B3: identification of divergent variables in reconciliations |
title_fullStr |
Methodological analysis of incompatible EBITDA disclosed by the companies listed in B3: identification of divergent variables in reconciliations |
title_full_unstemmed |
Methodological analysis of incompatible EBITDA disclosed by the companies listed in B3: identification of divergent variables in reconciliations |
title_sort |
Methodological analysis of incompatible EBITDA disclosed by the companies listed in B3: identification of divergent variables in reconciliations |
author |
Kistner, Shaiane Pisa |
author_facet |
Kistner, Shaiane Pisa Platt Neto, Orion Augusto |
author_role |
author |
author2 |
Platt Neto, Orion Augusto |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Kistner, Shaiane Pisa Platt Neto, Orion Augusto |
dc.subject.por.fl_str_mv |
EBITDA Methodological errors Non-GAAP measures EBITDA Erros metodológicos Medida não GAAP EBITDA; Contabilidade Financeira Análise das Demonstrações Contábeis EBITDA Errores metodológicos Medida no GAAP |
topic |
EBITDA Methodological errors Non-GAAP measures EBITDA Erros metodológicos Medida não GAAP EBITDA; Contabilidade Financeira Análise das Demonstrações Contábeis EBITDA Errores metodológicos Medida no GAAP |
description |
Purpose: To identify the variables responsible the methodological differences that cause incompatibilities in the EBITDA disclosed by the companies listed on B3, related to errors in data collection and undue changes in the formula by the reconciliation issuers. Methodology: Application of descriptive statistics on a sample of 35 entities that disclosed the incompatible EBITDA for 2018, observing the behavior of the indicator's variables in the years 2018, 2019 and 2020. Results: The most common calculation errors occurred when collecting data from the financial statements. The variable that most impacted erroneously calculated values was related to depreciation, amortization and depletion. It is concluded that, even with the standardization of the disclosure of EBITDA by the Securities and Exchange Commission of Brazil as of 2012, errors in the calculation of this indicator are still common, which reinforces the need for practical studies that verify the conformity of these companies' non-GAAP disclosures. Contributions of the Study: Considering that non-GAAP performance measures, such as EBITDA, are disseminated worldwide among investors and analysts to analyze corporate results, such measures are at risk of error and manipulation by the issuers' managers. In this sense, the study contributed in the practical sphere because it demonstrated which errors companies effectively made when calculating and demonstrating their EBITDA reconciliations. In addition, it bridges an academic gap concerning the methodology for calculating EBITDA, since even with the growing literature related to non-GAAP disclosures, the method of calculating the indicator has received low attention. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-07-04 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
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article |
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publishedVersion |
dc.identifier.uri.fl_str_mv |
https://periodicos.ufrn.br/ambiente/article/view/30732 10.21680/2176-9036.2023v15n2ID30732 |
url |
https://periodicos.ufrn.br/ambiente/article/view/30732 |
identifier_str_mv |
10.21680/2176-9036.2023v15n2ID30732 |
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por |
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por |
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https://periodicos.ufrn.br/ambiente/article/view/30732/17132 |
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http://creativecommons.org/licenses/by-nc-sa/4.0 info:eu-repo/semantics/openAccess |
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http://creativecommons.org/licenses/by-nc-sa/4.0 |
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openAccess |
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Portal de Periódicos Eletrônicos da UFRN |
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Portal de Periódicos Eletrônicos da UFRN |
dc.source.none.fl_str_mv |
REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 15 No. 2 (2023): Jul./Dez.; 19-40 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte; Vol. 15 Núm. 2 (2023): Jul./Dez.; 19-40 REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte - ISSN 2176-9036; v. 15 n. 2 (2023): Jul./Dez.; 19-40 2176-9036 10.21680/2176-9036.2023v15n2 reponame:Revista Ambiente Contábil instname:Universidade Federal do Rio Grande do Norte (UFRN) instacron:UFRN |
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Universidade Federal do Rio Grande do Norte (UFRN) |
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UFRN |
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Revista Ambiente Contábil |
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Revista Ambiente Contábil |
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Revista Ambiente Contábil - Universidade Federal do Rio Grande do Norte (UFRN) |
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