ACCOUNTING ASPECTS OF THE ITAIPU TREATY: AN ANALYSIS OF FIXED ASSETS MEASUREMENT PRACTICES OF ITAIPU BINACIONAL COMPANY

Authors

  • Claudio Parisi FECAP
  • José Orcélio do Nascimento FECAP
  • Elionor Farah Jreige Weffort FECAP
  • Marcos Reinaldo Severino Peters FECAP

DOI:

https://doi.org/10.34629/ric.v7i4.01-19

Keywords:

Empresa binacional, Ativo imobilizado, IFRS, IPSA, Tratado de Itaipu.

Abstract

This article aims to analyze Itaipu Binacional accounting practices related to fixed assets. Itaipu Binacional company was founded in 1974 based on Itaipu Treaty (1973) between Brazil and Paraguay concerning the use of Paraná River water resources. To achieve these objectives a descriptive search has been conducted, using deductive method. Documentary analysis technique was used for data treatment. . Data was obtained from Itaipu Treaty as well as Itaipu Binacional financial statements from 2007 to 2009. The analysis revealed that accounting practices concerning fixed assets measurement, depreciation, maintenance and impairment are not aligned with IFRS – International Financial Reporting Standards and IPSA - International Public Sector Accounting Standard, mainly due to the absence of depreciation. Furthermore, although maintenance is mentioned, no value for it was presented; and impairment test was not applied.

Author Biographies

Claudio Parisi, FECAP

Doutor em Ciências Contábeis pela FEA/USP Professor-pesquisador do Mestrado em Ciências Contábeis da FECAP

José Orcélio do Nascimento, FECAP

Mestre em Ciências Contábeis pela FECAP

Elionor Farah Jreige Weffort, FECAP

Doutora em Ciências Contábeis pela FEA/USP Professora-pesquisadora do Mestrado de Ciências Contábeis da FECAP

Marcos Reinaldo Severino Peters, FECAP

Doutor em Ciências Contábeis pela FEA/USP Professor-pesquisador do Mestrado de Ciências Contábeis da FECAP

Published

2014-03-23