IDEAS home Printed from https://ideas.repec.org/a/eee/reacre/v24y2012i1p15-24.html
   My bibliography  Save this article

The origins of modern accounting in Brazil: Influences leading to the adoption of IFRS

Author

Listed:
  • Rodrigues, Lúcia Lima
  • Schmidt, Paulo
  • Santos, José Luiz dos

Abstract

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 20th century; the birth of the Brazilian accounting profession in 1931 and the certified accountants association in 1946; the impact of US trade and American accounting in the 1950s; and the high rates of inflation that occurred from the beginning of the 1960s. 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.

Suggested Citation

  • Rodrigues, Lúcia Lima & Schmidt, Paulo & Santos, José Luiz dos, 2012. "The origins of modern accounting in Brazil: Influences leading to the adoption of IFRS," Research in Accounting Regulation, Elsevier, vol. 24(1), pages 15-24.
    • Handle: RePEc:eee:reacre:v:24:y:2012:i:1:p:15-24
    DOI: 10.1016/j.racreg.2011.12.003
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1052045711000592
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.racreg.2011.12.003?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Pinheiro, Armando Castelar & Giambiagi, Fabio, 1994. "Brazilian privatization in the 1990s," World Development, Elsevier, vol. 22(5), pages 737-753, May.
    2. Shortridge, Rebecca Toppe & Smith, Pamela A., 2009. "Understanding the changes in accounting thought," Research in Accounting Regulation, Elsevier, vol. 21(1), pages 11-18.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bonito, Ana & Pais, Cláudio, 2018. "The macroeconomic determinants of the adoption of IFRS for SMEs," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 21(2), pages 116-127.
    2. Nurunnabi, Mohammad, 2014. "‘Does accounting regulation matter?’: An experience of international financial reporting standards implementation in an emerging country," Research in Accounting Regulation, Elsevier, vol. 26(2), pages 230-238.
    3. Lúcia Lima Rodrigues & Carlos Pinho & Maria Clara Bugarim & Russell Craig & Diego Machado, 2018. "Factors affecting success in the professional entry exam for accountants in Brazil," Accounting Education, Taylor & Francis Journals, vol. 27(1), pages 48-71, January.
    4. Rodríguez García, Martha del Pilar & Cortez Alejandro, Klender Aimer & Méndez Sáenz, Alma Berenice & Garza Sánchez, Héctor Horacio, 2017. "Does an IFRS adoption increase value relevance and earnings timeliness in Latin America?," Emerging Markets Review, Elsevier, vol. 30(C), pages 155-168.
    5. Araújo, Wilde Gomes & Rodrigues, Lúcia Lima & Craig, Russell, 2017. "‘Empire as an imagination of the centre’: The Rio de Janeiro School of Commerce and the development of accounting education in Brazil," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 46(C), pages 38-53.
    6. Paula Silva, Ana & Fontes, Alexandra & Martins, Adelaide, 2021. "Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 44(C).
    7. Agrizzi, D. & Sian, S., 2015. "Artificial corporatism: A portal to power for accountants in Brazil," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 27(C), pages 56-72.
    8. Rodrigues, Lúcia Lima & Craig, Russell, 2022. "Using historical institutional analysis of corporatism to understand the professionalization of accounting in Latin America," Accounting, Organizations and Society, Elsevier, vol. 97(C).
    9. Nurunnabi, Mohammad, 2018. "Perceived costs and benefits of IFRS adoption in Saudi Arabia: An exploratory study," Research in Accounting Regulation, Elsevier, vol. 30(2), pages 166-175.
    10. Isabel Costa Lourenço & Raquel Sarquis & Manuel Castelo Branco & Nuno Magro, 2018. "International Differences in Accounting Practices Under IFRS and the Influence of the US," Australian Accounting Review, CPA Australia, vol. 28(4), pages 468-481, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. TOTH Kornel & HERCZEG Adrienn, 2015. "The Effect Of Globalization On Frameworks And Concepts In Accounting," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 968-975, July.
    2. Rajat Deb & Joydeep Das, 2018. "IFRSs Convergence and Expectation Gap: Vindication from Practitioners," Metamorphosis: A Journal of Management Research, , vol. 17(2), pages 86-99, December.
    3. Жиглей, Ірина Вікторівна & Юхименко-Назарук, Ірина Анатоліївна, 2017. "Розвиток облікової оцінки специфічних активів // Accounting valuation development of specific assets," Проблеми теорії та методології бухгалтерського обліку, контролю і аналізу // Problems of Theory and Methodology of Accounting, Control and Analysis, Житомирський державний технологічний університет // Zhytomyr State Technological University, vol. 38(3).
    4. repec:beo:journl:v:62:y:2018:i:216:p:85-110 is not listed on IDEAS
    5. Rajat Deb & Mukesh Nepal & Sourav Chakraborty, 2023. "IFRS and Audit Quality: A Systematic Literature Review," Management and Labour Studies, XLRI Jamshedpur, School of Business Management & Human Resources, vol. 48(1), pages 118-138, February.
    6. Yoonki Rhee & Sejun Yoon & Hyunseok Park, 2022. "Exploring Knowledge Trajectories of Accounting Information Systems Using Business Method Patents and Knowledge Persistence-Based Main Path Analysis," Mathematics, MDPI, vol. 10(18), pages 1-22, September.
    7. Santos, José Eusébio & Andini, Corrado, 2024. "Net privatisation prices in Brazil," Emerging Markets Review, Elsevier, vol. 60(C).
    8. Toth Kornel, 2014. "The Effect Of Derivative Financial Instruments On Bank Risks, Relevance And Faithful Representation: Evidence From Banks In Hungary," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 698-706, July.
    9. Siniša Radić, 2018. "Impact Of Intellectual Capital On Profitability Of Commercial Banks In Serbia," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 63(216), pages 85-110, January –.
    10. Kovács, Zsuzsanna Ilona & Deák, István, 2012. "Accounting – Profession vs. Science," Public Finance Quarterly, Corvinus University of Budapest, vol. 57(4), pages 426-436.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:reacre:v:24:y:2012:i:1:p:15-24. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/research-in-accounting-regulation .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.