| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 971.21 KB | Adobe PDF |
Advisor(s)
Abstract(s)
A adoção da IFRS 16, a 1 de janeiro de 2019, teve como grande objetivo aumentar a comparabilidade da informação financeira, tornando obrigatório para os locatários o reconhecimento de todas as locações como ativos e passivos nas suas demonstrações financeiras, mitigando, desta forma, as locações off-balance sheet e proporcionando o reporte de informação que integre de forma apropriada direitos e obrigações decorrentes de contratos de locação. No entanto, a norma consagra exceções, que não alcançaram consenso, e que permitem deixar fora do balanço algumas locações operacionais, nomeadamente as locações de curto prazo e as de baixo valor. Para além disso, a IFRS 16 permite alguma discricionariedade em matérias como a avaliação do exercício de opções de renovação dos contratos de locação. Caso não seja divulgada, no anexo às demonstrações financeiras, informação suficiente sobre estas questões, a desejada comparabilidade entre empresas pode ficar comprometida.
O presente estudo tem dois objetivos, determinar se a adoção da IFRS 16 impactou os rácios financeiros das empresas que constituem o PSI-20 e se essas empresas adotaram as exceções permitidas pela norma e estão a cumprir com as divulgações requeridas pela mesma, de modo a salvaguardar a comparabilidade entre empresas, em caso de materialidade. Os resultados mostram que, com exceção da rentabilidade dos capitais próprios, o novo normativo teve impacto significativo nos rácios financeiros das empresas do PSI-20 e que estas empresas estão, em geral, a adotar as exceções permitidas pela IFRS 16, sendo que a informação financeira divulgada nem sempre satisfaz cabalmente os requisitos da norma, o que pode comprometer a comparabilidade da informação.
The adoption of IFRS 16, on January 1st of 2019, aimed to increase the comparability of financial information, making it mandatory for tenants to recognize all leases as assets and liabilities in their financial statements, thus mitigating the off-balance sheet leases and providing a reporting of information that appropriately integrates rights and obligations arising from lease agreements. However, the new standard allows exceptions, which did not reach consensus, and which allow some operating leases to be left out of the balance sheet - short-term and low-value leases. In addition, IFRS 16 also allows some discretion in matters such as the evaluation of the exercise of options to renew lease contracts. If the financial statements do not disclose sufficient information on these issues, the desired comparability of financial information may be compromised. The present study has two objectives, to determine if the adoption of IFRS 16 impacted the financial ratios of the companies that make up the PSI-20 and to determine if these companies have adopted the exceptions allowed by the new standard and are complying with the disclosures required by it, in order to keep the comparability between companies, in case of materiality. The results show that, with the exception of return on equity, the new regulation had a significant impact on the financial ratios of PSI-20 companies and that these companies are, in general, adopting the exceptions allowed by IFRS 16, however the information disclosed by the financial statement does not always fully meets the requirements of the standard, which can compromise the comparability of the information.
The adoption of IFRS 16, on January 1st of 2019, aimed to increase the comparability of financial information, making it mandatory for tenants to recognize all leases as assets and liabilities in their financial statements, thus mitigating the off-balance sheet leases and providing a reporting of information that appropriately integrates rights and obligations arising from lease agreements. However, the new standard allows exceptions, which did not reach consensus, and which allow some operating leases to be left out of the balance sheet - short-term and low-value leases. In addition, IFRS 16 also allows some discretion in matters such as the evaluation of the exercise of options to renew lease contracts. If the financial statements do not disclose sufficient information on these issues, the desired comparability of financial information may be compromised. The present study has two objectives, to determine if the adoption of IFRS 16 impacted the financial ratios of the companies that make up the PSI-20 and to determine if these companies have adopted the exceptions allowed by the new standard and are complying with the disclosures required by it, in order to keep the comparability between companies, in case of materiality. The results show that, with the exception of return on equity, the new regulation had a significant impact on the financial ratios of PSI-20 companies and that these companies are, in general, adopting the exceptions allowed by IFRS 16, however the information disclosed by the financial statement does not always fully meets the requirements of the standard, which can compromise the comparability of the information.
Description
Keywords
Locações IAS 17 IFRS 16 Rácios financeiros Divulgações financeiras Comparabilidade da informação financeira Leases Financial ratios Financial disclosures Comparability of financial information PSI-20