ACCOUNTING ASPECTS OF THE ITAIPU TREATY: AN ANALYSIS OF FIXED ASSETS MEASUREMENT PRACTICES OF ITAIPU BINACIONAL COMPANY
DOI:
https://doi.org/10.34629/ric.v7i4.01-19Keywords:
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.Downloads
Published
2014-03-23
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