Please use this identifier to cite or link to this item: http://hdl.handle.net/1822/19981

TitleThe origins of modern accounting in Brazil : influences leading to the adoption of IFRS
Author(s)Rodrigues, Lúcia Lima
Schmidt, Paulo
Santos, José Luis dos
KeywordsBrazil
Financial reporting
Accounting development
Accounting thought
IFRS adoption
Issue date11-Feb-2012
PublisherElsevier
JournalResearch in Accounting Regulation
Abstract(s)Despite the increasing importance of Brazil, there has been little documentation of how accounting developed and about the significant formative influences involved. This paper explores the significant influences on Brazilian accounting and the path to the adoption of International Financial Reporting Standards (IFRS). Several important influences are emphasized: the equity theory of the Italian school of accounting in the early twentieth century; the birth of the Brazilian accounting profession in 1931 and the certified accountants association in 1946; the impact of U.S. trade and American accounting in the 1950’s the high rates of inflation that occurred from the beginning of the 1960’s. Modern Brazilian accounting had its beginning in the 1970s with the development of the stock market, the reforms of the financial system, and the decrease of tax influences on accounting. The globalization process and the need for Brazilian accounting to converge with international accounting led to the decision to adopt IFRS in 2007.
TypeArticle
URIhttp://hdl.handle.net/1822/19981
DOI10.1016/j.racreg.2011.12.003
ISSN1052-0457
Publisher versionhttp://dx.doi.org/10.1016/j.racreg.2011.12.003
Peer-Reviewedyes
AccessRestricted access (UMinho)
Appears in Collections:iMARKE - Publicações em Revistas Internacionais (com revisão por pares) / Articles in International Journals (peer review)

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