The first impact of the adoption of IFRS in European chemical companies and mining: search descriptive / O impacto da primeira adoção das normas IFRS nas empresas européias químicas e de mineração: pesquisa descritiva

AUTOR(ES)
DATA DE PUBLICAÇÃO

2008

RESUMO

The increasing adoption of International Financial Reporting Standards, IFRS, is consequence of the communication among enterprises, creditors, investors and stakeholders that is following the deep changes that have been taken place in the businesses. The international standards were set by IASB and it has already been identified a worldwide convergence toward IFRS. IFRS 1, named as First Time Adoption, applies to the requisites that have to be considered in the first-year balance sheet in IFRS reconciled with the local GAAP. This study has for objective to verify if there are differences in the current and noncurrent assets as well as in the current and non-current liabilities groups stated within the balance sheets of mining and chemicals companies listed at London Stock Exchange, Frankfurt Stock Exchange and Paris-Euronext, considering the local GAAP for each country and the first time adoption of IFRS. After a research in the referred stock exchanges, 42 companies (18 mining and 24 chemicals) have been picked and taken into analysis. The statistics are based on Wilcoxon and t-student for paired samples tests. They have compared the average of the differences in the current and non-current groups in relation to total assets or liabilities. The results show there are significant differences in the groups of assets and liabilities taken before and after the first adoption of international financial reporting standards, considering both comparisons between countries and sectors. The results also demonstrate that the groups of current and non-current accounts were impacted in different percentiles with the adoption of IFRS 1. The comparison of results illustrates that, when the analysis of a balance sheet in the first year adoption is necessary, the IFRS have not benefited the uniformity on accounting standards for the sectors and countries that have been used in this study and the effects of changes within assets and liabilities groups have to be taken into account as consequence of the transition from UK-GAAP, GER-GAAP and FRAGAAP to IFRS.

ASSUNTO(S)

empresas de mineração contabilidade indústria química standards and accounting standards chemical industry companies the mining padrões e normas contábeis accounting

ACESSO AO ARTIGO

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