Adequacy of Brazilian accounting standards in the light of international standards: a study on the technical pronouncement cpc 04

Abstract

Globalization, which led to the opening of capital markets and, consequently, foreign investment, implied the need for companies to adopt Accounting with a universal standard. In Brazil, one of the most important steps for this convergence was the creation of the Accounting Pronouncements Committee (CPC), responsible for the adaptation of Brazilian accounting standards to International Financial Reporting Standards (IFRS). The IFRS propose the standardization of the financial statements, taking into account the Intangible Assets, treated in Technical Pronouncement CPC 04, which interprets IAS 38, one of the polemic points of this standardization. Based on these assumptions, this article aims to address the relevant aspects of Technical Pronouncement CPC 04. For this purpose, it sought to verify how its implementation is implemented in order to parameterize compliance with International Accounting Standards. The applied methodology is theoretical-bibliographical, extracting the references, which guided the research, of primary data contained in the Technical Pronouncement under analysis, and secondary data such as books, articles, newsletters from the Accounting area, as well as publications on sites related to the subject in question. The results indicated that the main points dealt with in both standards involve issues related to the nature and recognition of Intangible Assets, the measurement of costs and the accounting of amortization and impairment losses of these assets.