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Standardization of Financial Reporting and Accounting in Latin American Countries

Book Description

Accounting has often been described as the language of business. As the increasing competition of overseas markets begins to affect even the smallest local companies, many more business professionals must become fluent in accounting principles and practice. Standardization of Financial Reporting and Accounting in Latin American Countries highlights the recent move to International Financial Reporting Standards (IFRS) and addresses some of the concerns raised due to cultural differences and the level of enforcement of these standards in separate countries. Describing the evolution of both financial and managerial accounting due to the adoption of IFRS, this book is an essential reference source for both students and seasoned professionals in the fields of accounting, finance, and related management fields, especially those with an international emphasis.

Table of Contents

  1. Cover
  2. Title Page
  3. Copyright Page
  4. Book Series
    1. Mission
    2. Coverage
  5. List of Reviewers
    1. List of Reviewers
  6. Preface
  7. Chapter 1: The Role of Latin American Bodies to the International Standard Setting
    1. ABSTRACT
    2. INTRODUCTION
    3. IFRS FOUNDATION AND IASB: A BRIEF PRESENTATION
    4. LATIM AMERICAN COUNTRIES IN THE STRUCTURE OF IFRS FOUNDATION: WHO ARE THEY?
    5. LATAM AMERICAN BODIES IN THEIR OWN GEOGRAPHY: WHAT ARE THEY DOING?
    6. FUTURE RESEARCH DIRECTIONS
    7. CONCLUSION
    8. REFERENCES
    9. ADDITIONAL READING
    10. KEY TERMS AND DEFINITIONS
    11. APPENDIX: LIST OF LATAM BODIES
  8. Chapter 2: Accounting Systems' Classification in Latin America
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. ACCOUNTING SYSTEM’S CLASSIFICATION
    5. FUTURE RESEARCH DIRECTIONS
    6. CONCLUSION
    7. REFERENCES
    8. ADDITIONAL READING
    9. KEY TERMS AND DEFINITIONS
    10. ENDNOTES
  9. Chapter 3: Has IFRS Improved Comparability Regarding Earnings Management in Latin America?
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. COMPARABILITY OF EARNINGS MANAGEMENT IN LATIN AMERICA
    5. FUTURE RESEARCH DIRECTIONS
    6. CONCLUSION
    7. REFERENCES
    8. ADDITIONAL READING
    9. KEY TERMS AND DEFINITIONS
  10. Chapter 4: Convergence of Accounting Standards towards IFRS in Brazil
    1. ABSTRACT
    2. INTRODUCTION
    3. EVOLUTION OF THE BRAZILIAN ACCOUNTING MODEL BEFORE THE ADOPTION OF IFRS
    4. THE ADOPTION OF IFRS IN BRAZIL
    5. MAIN CHANGES IN THE BRAZILIAN ACCOUNTING MODEL
    6. CONCEPTUAL AND PRACTICAL CHALLENGES
    7. FUTURE RESEARCH DIRECTIONS
    8. CONCLUSION
    9. REFERENCES
    10. ADDITIONAL READING
    11. KEY TERMS AND DEFINITIONS
    12. ENDNOTES
  11. Chapter 5: Do IFRS Matter in Emerging Countries?
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. RESEARCH DESIGN
    5. RESULTS
    6. FUTURE RESEARCH DIRECTIONS
    7. CONCLUSION
    8. REFERENCES
    9. ADDITIONAL READING
    10. KEY TERMS AND DEFINITIONS
  12. Chapter 6: Challenges in Applying IFRS in a Civil Law Tradition
    1. ABSTRACT
    2. INTRODUCTION
    3. LAW AND RIGTHS IN THE CIVIL LAW TRADITION
    4. CASE STUDY: APPLYING FAIR VALUE IN BRAZIL
    5. SOLUTIONS AND RECOMMENDATIONS
    6. FUTURE RESEARCH DIRECTIONS
    7. CONCLUSION
    8. REFERENCES
    9. KEY TERMS AND DEFINITIONS
    10. ENDNOTES
  13. Chapter 7: Are Taxes a Determinant Factor in Earnings Management Behavior?
    1. ABSTRACT
    2. 7.1. INTRODUCTION
    3. 7. 2. BACKGROUND
    4. 7.3. MAIN FOCUS OF THE CHAPTER
    5. RESEARCH DESIGN
    6. 7.4. SOLUTIONS AND RECOMMENDATIONS
    7. 4.1 RESULTS OF REGRESSION MODEL
    8. 7.5. FUTURE RESEARCH DIRECTIONS
    9. CONCLUSION
    10. REFERENCES
    11. ADDITIONAL READING
    12. KEY TERMS AND DEFINITIONS
  14. Chapter 8: The Impact of the Mandatory Adoption of IFRS in the Fees of Auditing in Companies of BM&FBovespa
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. THE MANDATORY ADOPTION OF IFRS IN BRAZIL AND AUDIT FEES
    5. FUTURE RESEARCH DIRECTIONS
    6. CONCLUSION
    7. REFERENCES
    8. ADDITIONAL READING
    9. KEY TERMS AND DEFINITIONS
  15. Chapter 9: Influence of International Accounting Convergence on the Level of Earnings Management in both Brazilian and Chilean Companies
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. EARNINGS MANAGEMENT AND IFRS ADOPTION
    5. FUTURE RESEARCH DIRECTIONS
    6. CONCLUSION
    7. REFERENCES
    8. ADDITIONAL READING
    9. KEY TERMS AND DEFINITIONS
    10. ENDNOTES
  16. Chapter 10: Accounting Standards in Peru
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. THE ADOPTION OF IFRS IN PERU (LARGE FIRMS)
    5. THE ADOPTION OF IFRS IN PERU (SME)
    6. IFRS FOR SMES
    7. LITERATURE REVIEW
    8. MAIN FOCUS OF THE CHAPTER
    9. CONCEPTUAL AND PRACTICAL CHALLENGES
    10. CONTRIBUTIONS AND LIMITATIONS
    11. FUTURE RESEARCH DIRECTIONS
    12. CONCLUSION
    13. REFERENCES
    14. ADDITIONAL READING
    15. KEY TERMS AND DEFINITIONS
    16. ENDNOTES
  17. Chapter 11: International Financial Reporting Standards for Latin American Small and Medium Enterprises
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. INTERNATIONAL FINANCIAL REPORTING STANDARDS FOR SMALL AND MEDIUM ENTERPRISES (IFRS FOR SMES)
    5. OVERVIEW OF SIMILARITIES AND DIFFERENCES BETWEEN IFRS FOR SMES AND IFRS FOR PUBLIC COMPANIES
    6. EXAMPLES OF ADOPTION OF IFRS FOR SMES IN LATIN AMERICA
    7. FUTURE RESEARCH DIRECTIONS
    8. CONCLUSION
    9. REFERENCES
    10. ADDITIONAL READING
    11. KEY TERMS AND DEFINITIONS
  18. Chapter 12: Difficulties in the Adoption of IFRS on Small and Medium Enterprises (SMEs) in Brazil
    1. ABSTRACT
    2. INTRODUCTION
    3. BACKGROUND
    4. METHODOLOGY
    5. ANALYSES AND RESULTS
    6. SOLUTIONS AND RECOMMENDATIONS
    7. FUTURE RESEARCH DIRECTIONS
    8. CONCLUSION
    9. REFERENCES
    10. ADDITIONAL READING
    11. KEY TERMS AND DEFINITIONS
  19. Chapter 13: IFRS for SMEs
    1. ABSTRACT
    2. INTRODUCTION
    3. CONTEXTS AND HUMAN CAPITAL THEORY
    4. BRAZILIAN ACCOUNTING STANDARDS FOR SMEs AND THE RESPECTIVE REGULATORY ENVIRONMENT
    5. CONTINUING EDUCATION
    6. METHODOLOGY AND RESULTS
    7. FUTURE RESEARCHES DIRECTIONS
    8. CONCLUSION
    9. REFERENCES
    10. ADDITIONAL READING
    11. KEY TERMS AND DEFINITIONS
  20. Appendix
  21. Compilation of References
  22. About the Contributors