Evidenciação das operações com derivativos pelas empresas não financeiras
Autor(a) principal: | |
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Data de Publicação: | 2011 |
Tipo de documento: | Dissertação |
Idioma: | por |
Título da fonte: | Biblioteca Digital de Teses e Dissertações do Mackenzie |
Texto Completo: | http://dspace.mackenzie.br/handle/10899/26230 |
Resumo: | The acceleration of the financial crisis in late 2008 impacted currencies and markets so that companies operating derivative hedging purposes other than those they were surprised by sudden changes in their positions. This brought the derivative financial instruments to the center of attention and questioning what the role of accounting in providing information to stakeholders. These instruments are used to manage the risks to which companies are exposed because of their business, but these same tools can also be used to leverage a result, bringing great risks to stakeholders. This attitude is motivated mainly by the asymmetry of information between the parties, since the risks involved with the operation and derivatives are not fully reflected in financial statements, thereby causing an agency conflict. Accounting, through to recent international standards and pronouncements of the CPC, aims to reduce this information asymmetry through adequate disclosure of important information so that users can assess the nature and extent of risks arising from derivative financial instruments that the entity is exposed and how these risks are managed. This study aimed to show whether non-financial companies are adopting accounting standards adequately explained by the pronouncements of the Accounting Standard Committee (CPC) with regard to items concerning the disclosure of derivative transactions. To this were consulted Notes to Financial Statements. The Securities Commission has the power to search data from standardized financial statements. The methodology was developed a checklist with key standards for disclosure of transactions with derivative financial instruments, issued by the CPC. Firms in the sample were 98 companies with the most actively traded shares on the BOVESPA in 2010. The main results showed that the companies are, in general, adequately showing the operations with financial instruments, even though the need to adjust the financial disclosures for the year since 2010 and these rules are published in late 2009. |
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2016-03-15T19:32:28Z2020-05-28T18:17:22Z2012-01-182020-05-28T18:17:22Z2011-08-02http://dspace.mackenzie.br/handle/10899/26230The acceleration of the financial crisis in late 2008 impacted currencies and markets so that companies operating derivative hedging purposes other than those they were surprised by sudden changes in their positions. This brought the derivative financial instruments to the center of attention and questioning what the role of accounting in providing information to stakeholders. These instruments are used to manage the risks to which companies are exposed because of their business, but these same tools can also be used to leverage a result, bringing great risks to stakeholders. This attitude is motivated mainly by the asymmetry of information between the parties, since the risks involved with the operation and derivatives are not fully reflected in financial statements, thereby causing an agency conflict. Accounting, through to recent international standards and pronouncements of the CPC, aims to reduce this information asymmetry through adequate disclosure of important information so that users can assess the nature and extent of risks arising from derivative financial instruments that the entity is exposed and how these risks are managed. This study aimed to show whether non-financial companies are adopting accounting standards adequately explained by the pronouncements of the Accounting Standard Committee (CPC) with regard to items concerning the disclosure of derivative transactions. To this were consulted Notes to Financial Statements. The Securities Commission has the power to search data from standardized financial statements. The methodology was developed a checklist with key standards for disclosure of transactions with derivative financial instruments, issued by the CPC. Firms in the sample were 98 companies with the most actively traded shares on the BOVESPA in 2010. The main results showed that the companies are, in general, adequately showing the operations with financial instruments, even though the need to adjust the financial disclosures for the year since 2010 and these rules are published in late 2009.A aceleração da crise financeira no final de 2008 impactou moedas e mercados fazendo com que empresas que operavam derivativos com finalidades diversas das de hedge fossem surpreendidas por variações bruscas de suas posições. Isso trouxe os instrumentos financeiros derivativos para o centro das atenções e o questionamento de qual seria o papel da contabilidade na divulgação de informações para os stakeholders. Estes instrumentos são utilizados para o gerenciamento de riscos aos quais as empresas estão expostas devido aos seus negócios, porém estes mesmos instrumentos também podem ser utilizados para a alavancagem do resultado, trazendo grandes riscos para os stakeholders. Esta atitude é motivada principalmente pela assimetria de informação entre as partes, já que os riscos envolvidos com a operação com derivativos não são perfeitamente evidencias nas demonstrações financeiras, causando assim um conflito de agência. A contabilidade, através das recentes normas internacionais e dos pronunciamentos técnicos do CPC, tem como objetivo reduzir essa assimetria de informação através da evidenciação adequada de informações importantes para que os usuários possam avaliar a natureza e extensão dos riscos resultantes dos instrumentos financeiros derivativos que a entidade está exposta e como estes riscos são gerenciados. Este trabalho teve por objetivo mostrar se as empresas não financeiras estão adotando adequadamente as normas contábeis explicitadas pelos pronunciamentos técnicos do Comitê de Pronunciamento Contábil (CPC), com relação aos itens que dizem respeitos à evidenciação de operações com derivativos. Para isso foram consultadas as Notas Explicativas às Demonstrações Contábeis. A Comissão de Valores Mobiliários foi a fonte de consulta dos dados das demonstrações financeiras padronizadas. Como metodologia, foi elaborado um checklist com as principais normas referentes à evidenciação de operações com instrumentos financeiros derivativos, emitidas pelo CPC. As empresas da amostra foram as 98 empresas com as ações mais negociadas na BM&FBOVESPA no ano de 2010. Os principais resultados mostraram que as empresas estão, no geral, evidenciando adequadamente as operações com instrumentos financeiros, mesmo tendo à necessidade de adequar as divulgações financeiras já para o exercício de 2010 e sendo essas normas publicadas no final de 2009.Fundo Mackenzie de Pesquisaapplication/pdfporUniversidade Presbiteriana MackenzieControladoria EmpresarialUPMBRCiências Contábeisderivativosevidenciaçãoproblema de agênciastakeholdernormas internacionais de contabilidadederivativesdisclosureagency problemstakeholderinternational accounting standardsCNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEISEvidenciação das operações com derivativos pelas empresas não financeirasinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisPerera, Luiz Carlos Jacobhttp://lattes.cnpq.br/3386375141622007Kimura, Herberthttp://lattes.cnpq.br/2048706172366367Godoy, Carlos Roberto dehttp://lattes.cnpq.br/6760711212964451http://lattes.cnpq.br/4658722470363124Reis Neto, Carlos doshttp://tede.mackenzie.br/jspui/retrieve/3171/Carlos%20dos%20Reis%20Neto.pdf.jpghttp://tede.mackenzie.br/jspui/bitstream/tede/880/1/Carlos%20dos%20Reis%20Neto.pdfinfo:eu-repo/semantics/openAccessreponame:Biblioteca Digital de Teses e Dissertações do Mackenzieinstname:Universidade Presbiteriana Mackenzie (MACKENZIE)instacron:MACKENZIEOREORE.xmltext/xml2654http://dspace.mackenzie.br/bitstream/10899/26230/1/ORE.xml0e3bb444e41ba10076da6a05eb3ffd74MD5110899/262302020-05-28 15:17:22.195Biblioteca Digital de Teses e Dissertaçõeshttp://tede.mackenzie.br/jspui/PRI |
dc.title.por.fl_str_mv |
Evidenciação das operações com derivativos pelas empresas não financeiras |
title |
Evidenciação das operações com derivativos pelas empresas não financeiras |
spellingShingle |
Evidenciação das operações com derivativos pelas empresas não financeiras Reis Neto, Carlos dos derivativos evidenciação problema de agência stakeholder normas internacionais de contabilidade derivatives disclosure agency problem stakeholder international accounting standards CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS |
title_short |
Evidenciação das operações com derivativos pelas empresas não financeiras |
title_full |
Evidenciação das operações com derivativos pelas empresas não financeiras |
title_fullStr |
Evidenciação das operações com derivativos pelas empresas não financeiras |
title_full_unstemmed |
Evidenciação das operações com derivativos pelas empresas não financeiras |
title_sort |
Evidenciação das operações com derivativos pelas empresas não financeiras |
author |
Reis Neto, Carlos dos |
author_facet |
Reis Neto, Carlos dos |
author_role |
author |
dc.contributor.advisor1.fl_str_mv |
Perera, Luiz Carlos Jacob |
dc.contributor.advisor1Lattes.fl_str_mv |
http://lattes.cnpq.br/3386375141622007 |
dc.contributor.referee1.fl_str_mv |
Kimura, Herbert |
dc.contributor.referee1Lattes.fl_str_mv |
http://lattes.cnpq.br/2048706172366367 |
dc.contributor.referee2.fl_str_mv |
Godoy, Carlos Roberto de |
dc.contributor.referee2Lattes.fl_str_mv |
http://lattes.cnpq.br/6760711212964451 |
dc.contributor.authorLattes.fl_str_mv |
http://lattes.cnpq.br/4658722470363124 |
dc.contributor.author.fl_str_mv |
Reis Neto, Carlos dos |
contributor_str_mv |
Perera, Luiz Carlos Jacob Kimura, Herbert Godoy, Carlos Roberto de |
dc.subject.por.fl_str_mv |
derivativos evidenciação problema de agência stakeholder normas internacionais de contabilidade |
topic |
derivativos evidenciação problema de agência stakeholder normas internacionais de contabilidade derivatives disclosure agency problem stakeholder international accounting standards CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS |
dc.subject.eng.fl_str_mv |
derivatives disclosure agency problem stakeholder international accounting standards |
dc.subject.cnpq.fl_str_mv |
CNPQ::CIENCIAS SOCIAIS APLICADAS::ADMINISTRACAO::CIENCIAS CONTABEIS |
description |
The acceleration of the financial crisis in late 2008 impacted currencies and markets so that companies operating derivative hedging purposes other than those they were surprised by sudden changes in their positions. This brought the derivative financial instruments to the center of attention and questioning what the role of accounting in providing information to stakeholders. These instruments are used to manage the risks to which companies are exposed because of their business, but these same tools can also be used to leverage a result, bringing great risks to stakeholders. This attitude is motivated mainly by the asymmetry of information between the parties, since the risks involved with the operation and derivatives are not fully reflected in financial statements, thereby causing an agency conflict. Accounting, through to recent international standards and pronouncements of the CPC, aims to reduce this information asymmetry through adequate disclosure of important information so that users can assess the nature and extent of risks arising from derivative financial instruments that the entity is exposed and how these risks are managed. This study aimed to show whether non-financial companies are adopting accounting standards adequately explained by the pronouncements of the Accounting Standard Committee (CPC) with regard to items concerning the disclosure of derivative transactions. To this were consulted Notes to Financial Statements. The Securities Commission has the power to search data from standardized financial statements. The methodology was developed a checklist with key standards for disclosure of transactions with derivative financial instruments, issued by the CPC. Firms in the sample were 98 companies with the most actively traded shares on the BOVESPA in 2010. The main results showed that the companies are, in general, adequately showing the operations with financial instruments, even though the need to adjust the financial disclosures for the year since 2010 and these rules are published in late 2009. |
publishDate |
2011 |
dc.date.issued.fl_str_mv |
2011-08-02 |
dc.date.available.fl_str_mv |
2012-01-18 2020-05-28T18:17:22Z |
dc.date.accessioned.fl_str_mv |
2016-03-15T19:32:28Z 2020-05-28T18:17:22Z |
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info:eu-repo/semantics/publishedVersion |
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info:eu-repo/semantics/masterThesis |
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masterThesis |
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UPM |
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Ciências Contábeis |
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