Biological Assets in Companies in Brazil: Pursuant To CPC 29 and Association with Business Features

Abstract

The adoption of international accounting standards in Brazil has brought about changes in the form of recognition, measurement and disclosure of economic facts of companies. In order to harmonize the accounting standards with the international standard-setting bodies Brazilian approved CPC 29, which establishes the accounting treatment and disclosure of biological assets and agricultural products. The objective of this study was to verify the Brazilian companies with biological assets the level of compliance with the CPC 29 and its association with business features. The study adopted the descriptive approach and examined the consolidated Financial Statements for the year 2013 of Brazilian public companies. In total 19 companies were analyzed showed that biological assets in 2013. The survey results show that the average compliance of companies with CPC 29 is 74.68%. Regarding the statistical analysis, it was observed that the level of compliance of companies have associations with business characteristics such as sector, governance, size, profitability and representativeness of the asset and the company's size has significant interaction with the level of accordingly. Compared to previous studies it was found that there was a significant increase in company compliance level with CPC 29 over time

Keywords

• CPC 29
• Biological assets
• Compliance level
• Brazilian companies