SOUSA, T. M.; http://lattes.cnpq.br/5731936850180761; SOUSA, Tamara Maria de.
Résumé:
This research aims to verify how Brazilian companies operating in the real estate sector have
been operating measuring and demonstrating their investment property. Secondly we sought
to assess the level of disclosure under CPC 28. It is known that the standard allows the
choice of fair value as an alternative method at historical cost, should the opting for cost
disclose the fair value in the Notes. To reach that goal we analyzed the explanatory notes of
the four-year period from 2010 to 2013 of the twelve companies listed on the
BM&FBOVESPA that operate in the real estate sector Exploration. The results showed that
only three companies use the fair value measurement objective in the balance sheet and
have more than 80% of its assets classified as PPI. The other companies use the fair value
only for purposes of disclosure. It was found that there is a predominance of Discounted
Cash Flow method for obtaining the fair value. In addition, descriptive analyzes allowed to
observe the amount that was out of balance in the companies that chose the cost, a figure
that is equivalent in many cases, to 2.5 times the total assets of the company. Finally, it
appears that the existing flexibility in the method of calculation for PPI may result in loss of
comparability, a fact that undermines the users of information across their decisions.
Furthermore, the omission of disclosures can increase the subjectivity behind the fair value
estimates.
