Efeitos da adoção da IFRS 16 — locações nas empresas cotadas no STOXX Europe 50
Effects of the Implementation of IFRS 16—Leases by Listed Companies on STOXX Europe 50
Efectos de la adopción de las NIIF 16 — arrendamientos en las empresas cotizadas en el STOXX Europe 50
DOI:
https://doi.org/10.15446/innovar.v33n88.106271Palabras clave:
efeitos ao nível da informação divulgada, efeitos contabilísticos, efeitos reais esperados, IFRS 16, locações (pt)Effects at the level of disclosed information, accounting effects, expected real effects, IFRS 16, leases (en)
efectos al nivel de la información divulgada, efectos contables, efectos reales esperados, NIIF 16, arrendamientos (es)
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A alteração da forma de contabilização das locações pela introdução de uma nova norma contabilística poderá ter implicações nas empresas, quer a nível contabilístico, quer na qualidade da informação empresarial e na economia real. O estudo tem como objetivo analisar os efeitos contabilísticos e ao nível da informação divulgada, e ainda identificar os efeitos reais esperados da adoção da ifrs 16, na perspetiva do locatário. Foram analisados os relatórios, as contas e as comment letters das empresas incluídas no stoxx Europe 50. Os resultados indicam que, a nível contabilístico, se verificou um aumento significativo no ativo, passivo e ebitda das empresas. Verificou-se também um aumento das divulgações. No que diz respeito aos efeitos da informação divulgada, a maioria das empresas concluiu que a ifrs 16 não melhora a tomada de decisão, devido à sua complexidade e aos ajustamentos que eram realizados antes da ifrs 16. Foram ainda apontados três efeitos reais esperados: os custos de implementação da norma; as alterações contratuais nos contratos de financiamento; e o desincentivo às locações. Este estudo é particularmente relevante para os emissores de normas contabilísticas, pois identifica os diversos efeitos, contabilísticos, de informação e reais que a adoção da ifrs 16 origina. Contudo, este estudo não analisa nem os efeitos reais efetivos, nem os de mercado de capitais resultantes da adoção da ifrs 16, e a amostra inclui apenas grandes empresas.
The change in the accounting method for leases due to the introduction of a new accounting standard may have implications for companies at an accounting level, for the quality of business information, and for the real economy. The objective of this study is to analyze the accounting effects of such a change and the information disclosed under this new perspective, as well as identify the real effects expected from the adoption of ifrs 16 from the perspective of tenants. To that end, the authors examined the reports, accounts and comment letters of companies listed on the stoxx Europe 50. The results indicate that, from an accounting view, there was a significant increase in these companies' assets, liabilities, and ebitda. Likewise, there was an increase in the disclosure of related information. With regard to the effects of disclosed information, most companies concluded that ifrs 16 does not improve decision-making processes due to its complexity and the adjustments made before its implementation. Specifically, three effects were identified: the associated costs of the deployment of this standard; the required contractual amendments to financing agreements; and a disincentive for renting a property. This study is especially relevant for those in charge of issuing accounting standards, as it identifies the various accounting and real effects of ifrs 16 adoption. As limitations, this study does not examine the real and capital market effects resulting from the adoption of ifrs 16, and the sample includes only large companies.
La alteración de la contabilización de los arrendamientos por la introducción de una nueva norma contable podrá generar efectos a las empresas, ya sea en el ámbito contable, ya sea en la calidad de la información empresarial y en la economía real. El estudio tiene como propósito analizar los efectos contables y al nivel de la información divulgada, igualmente identificar los efectos reales esperados de la adopción de la NIIF 16, desde la perspectiva del arrendatario. Se analizan los reportes, las cuentas y las comment letters de las empresas incluidas en el STOXX Europe 50. Los resultados indican que, en el ámbito contable, se averigua un incremento significativo en el activo, pasivo y EBITDA de las empresas. Se averigua también un aumento de las divulgaciones. Respeto a los efectos de la información divulgada, la mayoría de las empresas concluye que la NIIF 16 no mejora la toma de decisión, debido a su complejidad y a ajustes que se realizaban antes de la NIIF 16. Asimismo, se apuntan tres efectos reales esperados: los costes de implantación de la norma; las alteraciones contractuales en los contratos de financiación; y la falta de estímulo a los arrendamientos. El estudio es particularmente relevante para los emisores de normas contables por identificar los diversos efectos — contables, de información y reales — que origina la adopción de la NIIF 16. Sin embargo, el estudio no analiza ni los efectos reales efectivos, ni tampoco los de mercado de capitales resultantes de la adopción de la NIIF 16, y la muestra incluye solo grandes empresas.
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