Estudo sobre o impacto da ICPC 01 contrato de concessão -sobre os indicadores de desempenho econômico-financeiro das empresas do setor elétrico

Adaptation of Brazilian Accounting Rules to the International Financial Reporting Standards (IFRS),can be analysed as a reflex of the global improvement in communication and information among the economic agents, such as: corporations, funders, investor and other stakeholders through the business world. Internationally speaking the development of such standards is on behalf of IASB Board, in Brazil new standards are issued by CPC Accounting Pronouncements Committee, after having them discussed with the society, standards must have being approved by CVM Brazilian Security Exchange and CFC Federal Accounting Council. A new interpretation has been approved regarding Concession Agreements, based on IFRIC 12, in Brazil ICPC 01. The objective of this paper has for objective to verify the impact over finance and economic ratios after the adoption of such interpretation, for Brazilian utilities concession business. This analysis is made of a comparison between the rations calculation before and after the adoption of ICPC 01. Through the analysis of ANEEL, the Public Agency, CVM and BM&F Bovespa websites, 06 different companies have been selected to be analysed in this study. They represent utilities segment such as: power distribution, commercialization and transmission. Calculus and tests have been made based on literature. This new interpretation indicates that infrastructure equipments can not be recorded as a concession assets any longer, since them do not belong to the concessionaries, but to the Government. In line with the new interpretation they should be recorded as intangible assets or financial assets, depending on the demand risk. The results demonstrate that there are substantials differences between the older and the new standard that needs to be followed as from 2010 Fiscal Year, which directly impact on financial ratios. These impacts also point to a better use of accounting as a relevant information tool and source, since more adequate criteria can be utilized as from the adoption of such ...