Estudo da consolidação proporcional nas empresas que atuam no mercado brasileiro / Study of the proportionate consolidation on companies that are active in the Brazilian market

AUTOR(ES)
DATA DE PUBLICAÇÃO

2005

RESUMO

There is no consensus on the best way of recognizing investments in joint ventures in the investing company?s financial statement. One single accounting practice needs to be adopted, as the lack of a standardized accounting treatment for investments in cases of shared control impairs the comparability of consolidated financial statements issued by companies that adopt different approaches. This study aims to evaluate the reflexes of adopting ? or not - the proportional consolidation method in the investing company?s financial statements in case of shared control investments. In these statements, Net Profit and Net Equity are the only figures that have to be equal. An empirical study tested for significant differences between the figures of accounts with or without proportional consolidation. Data were collected from the database of the Institute for Accounting, Actuarial and Financial Research Foundation - FIPECAFI/FEA USP, which is used to publish the magazine Exame ? Melhores e Maiores. First, we examined companies active in the Brazilian market who presented shared control investments between 1996 and 2003. Next, in the empirical study, we used data from 2000 to 2003, totaling 34 financial statements, which were used for calculating figures with and without proportional consolidation. Wilcoxon?s non-parametrical test was used with a significance level of 5%. Results indicated significant differences in current and long-term assets, current and long-term liabilities, net sales, cost of goods sold or cost of products sold or cost of services rendered, working capital, index of capital of third-party investors on own capital, current and general liquidity and net margin, when calculated with and without the proportional consolidation method. These results confirm the controversy in academic literature about the differences between one method and another in terms of control and definition of assets and liabilities. Although statistical tests suggest that there is no significant difference in the composition of indebtedness, it cannot be generalized that there are no differences between the figures. The results of this study indicate that, due to the adoption of a specific consolidation approach, financial statement users may give a different interpretation to the consolidated statements of companies with joint venture investments.

ASSUNTO(S)

joint ventures joint ventures balanço contábil balance sheet

ACESSO AO ARTIGO

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