| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 1.27 MB | Adobe PDF |
Authors
Advisor(s)
Abstract(s)
A 1 de Janeiro de 2019, as empresas que utilizam as normas internacionais de contabilidade adotaram obrigatoriamente o recente normativo contabilístico associado às locações – IFRS 16 (International Financial Reporting Standards – Locações). Esta norma impõe que todos os contratos de locação, incluindo as locações operacionais, passem a estar refletidos obrigatoriamente no balanço. A crescente preocupação dos organismos internacionais, nomeadamente o International Accounting Standards Board (IASB) e o US Financial Accounting Standards Board (FASB), relativamente ao uso das locações operacionais como forma de financiamento off balance sheet associada à preocupação dos investidores pela falta de transparência da informação divulgada nas demonstrações financeiras das empresas, foram os elementos chave para que se desencadeasse a reavaliação normativa das locações. O objetivo da presente dissertação é determinar se a introdução do novo modelo contabilístico de locações conduz a alterações significativas nos indicadores económico-financeiros das empresas cotadas na Euronext Lisbon. As informações financeiras foram recolhidas dos Relatórios & Contas do primeiro semestre após a entrada em vigor da IFRS 16. Os resultados mostram que existe um impacto estatisticamente significativo nos rácios de autonomia financeira, solvabilidade, grau de endividamento, cobertura de juros, rentabilidade do ativo, margem EBITDA e cobertura da dívida líquida pelo EBITDA. Os resultados obtidos vão de encontro a outros resultados de estudos anteriormente realizados acerca dos impactos esperados na implementação da IFRS 16.
On January 1st 2019, companies that use international accounting standards adopted the recent accounting standard associated with leases - IFRS 16 (International Financial Reporting Standards - Leases). This standard requires companies to report leases on the balance sheet, including contracts that were defined as operating leases and therefore were not recognized on the balance sheet. Internacional accounting standard-setting organizations, International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) growing concerns over the use of operating leases as a way of off balance sheet financing associated with the lack of transparency of information about lease obligations, were the key elements that led to the creation of the new single lessee accounting model. The aim of this dissertation is to investigate if the adoption of IFRS 16 by the companies listed in Euronext Lisbon affected financial ratios and performance metrics in the first semester of adoption of the new accounting standard. The financial information was collected from the financial reports for the first semester of the year when IFRS 16 was adopted. The results show that there is statistically significant impact on the financial autonomy ratio, solvency ratio, debt ratio, interest coverage ratio, return on assets, EBITDA margin and net debt to EBTIDA ratio. The results of the study align with the findings of past research regarding the introduction of IFRS 16.
On January 1st 2019, companies that use international accounting standards adopted the recent accounting standard associated with leases - IFRS 16 (International Financial Reporting Standards - Leases). This standard requires companies to report leases on the balance sheet, including contracts that were defined as operating leases and therefore were not recognized on the balance sheet. Internacional accounting standard-setting organizations, International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) growing concerns over the use of operating leases as a way of off balance sheet financing associated with the lack of transparency of information about lease obligations, were the key elements that led to the creation of the new single lessee accounting model. The aim of this dissertation is to investigate if the adoption of IFRS 16 by the companies listed in Euronext Lisbon affected financial ratios and performance metrics in the first semester of adoption of the new accounting standard. The financial information was collected from the financial reports for the first semester of the year when IFRS 16 was adopted. The results show that there is statistically significant impact on the financial autonomy ratio, solvency ratio, debt ratio, interest coverage ratio, return on assets, EBITDA margin and net debt to EBTIDA ratio. The results of the study align with the findings of past research regarding the introduction of IFRS 16.
Description
Keywords
Contabilidade Locações IFRS 16 Rácios financeiros Accounting Leases IAS 17 Financial statements