Os impactos da adoção do pronunciamento técnico CPC 48 instrumentos financeiros nos resultados abrangentes de empresas listadas no segmento novo mercado da B3

Abstract

The recent convergence of Brazilian accounting standards to international standards has implemented the Comprehensive Income Statement, through Technical Pronouncement CPC 26, as a component of the complete set of financial statements, thus placing greater emphasis on the disclosure of comprehensive results. Subsequently, in 2018, Technical Pronouncement CPC 48 was adopted, which, among other changes, changed the recognition and classification of financial instruments, especially those measured at fair value through other comprehensive results. Campos (2018) concluded in his study that the volatility of an entity's shareholders' equity is more significantly related to other comprehensive income than in relation to operating income. Given this context, we sought to ascertain, then, how much a change in accounting standards can contribute to the variation of performance and, consequently, of its main financial ratios, as well as ensuring that these entities correctly disclose the impacts of the adoption of the new standard, the significance, risks and results of these financial instruments and their comprehensive results. It was found that the totality of the selected companies had a percentage above 80% of effectiveness in the disclosure of the information required by the technical pronouncements, but there was a lower percentage of 63% in items related to the description of the equity valuation adjustments, disclosure of deferred taxes on OCI and also on the quantitative impacts of the adoption of CPC 48. A reduction was noticed both in the average of the absolute values of financial assets evaluated by FVOCI (25.35%), and in the relation of these with the total assets (19.62%) and total shareholders' equity (13.67%) indicating loss of significance of financial assets in relation to the equity situation of the sample. However, there was an average increase of approximately 627% in the ratio of other comprehensive income due to the total comprehensive income after the adoption of the new standard, indicating an increase in the significance of the comprehensive income in the entity's performance. Finally, it was found that the ROE, ML and ROI profitability indicators were not significantly influenced by the adoption of the standard, while the Indebtedness Index can be said to have been impacted by the exclusion of OCI from the Adjusted Equity and thus the average variation of the IE and Adjusted IE worsened after the adoption of the CPC 48.