The influence of culture and professional judgment on accounting: an analysis from the perspective of information preparers in Portugal
The standards issued by the International Accounting Standards Board (Iasb) are based on principles, which delegate decisions on accounting matters to professional judgment, based on the concepts existing in those standards, with implications for financial reporting. The objective in this study is t...
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doaj-98d85caac95448288cb19c9d3ce336162020-11-24T22:42:40ZengConselho Federal de Contabilidade (CFC)Revista de Educação e Pesquisa em Contabilidade 1981-86102016-03-0110110.17524/repec.v10i1.1214697The influence of culture and professional judgment on accounting: an analysis from the perspective of information preparers in PortugalManuela Marcelino0Fábio Henrique Ferreira de Albuquerque1Joaquín Texeira Quirós2Maria do Rosário Fernandes Justino3Técnica Superior na Área Financeira e Patrimonial da Faculdade de Farmácia da Universidade de LisboaProfessor Adjunto do Instituto Superior de Contabilidade e Administração de LisboaProfessor Coordenador da Universidade Autónoma de LisboaProfessora Adjunta do Instituto Superior de Contabilidade e Administração de LisboaThe standards issued by the International Accounting Standards Board (Iasb) are based on principles, which delegate decisions on accounting matters to professional judgment, based on the concepts existing in those standards, with implications for financial reporting. The objective in this study is to analyze the influence of culture on professional judgment, through the analysis of the existence of significant differences in the decisions about the disclosure or recognition of liabilities and assets, as well as to validate (or not) the classification Gray (1988) attributed to Portugal concerning the accounting values of conservatism and secrecy. In that sense, the concepts established in Accounting and Financial Reporting Standard (NCRF) 21, entitled Provisions, Contingent Liabilities and Contingent Assets. Based on the distribution of a questionnaire to the information preparers, which resulted in a sample of 408 professionals, it could be identified through the use of bivariate statistical techniques that there are significant differences in the professionals’ perception of asset and liability disclosure and recognition, revealing a stronger trend towards the disclosure or recognition of liabilities. Concerning conservatism and secrecy, using multivariate statistical techniques, a higher level of conservatism could be verified as an accounting value in Portugal, as well as the existence of an association between conservatism and secrecy. This study attracts standardizing entities’ attention to the importance of aspects related to the information disclosed in the financial statements, particularly regarding the professional judgment.http://repec.org.br/index.php/repec/article/view/1214Harmonização ContabilísticaValores CulturaisValores ContabilísticosPráticas ContabilísticasJulgamento Profissional. |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Manuela Marcelino Fábio Henrique Ferreira de Albuquerque Joaquín Texeira Quirós Maria do Rosário Fernandes Justino |
spellingShingle |
Manuela Marcelino Fábio Henrique Ferreira de Albuquerque Joaquín Texeira Quirós Maria do Rosário Fernandes Justino The influence of culture and professional judgment on accounting: an analysis from the perspective of information preparers in Portugal Revista de Educação e Pesquisa em Contabilidade Harmonização Contabilística Valores Culturais Valores Contabilísticos Práticas Contabilísticas Julgamento Profissional. |
author_facet |
Manuela Marcelino Fábio Henrique Ferreira de Albuquerque Joaquín Texeira Quirós Maria do Rosário Fernandes Justino |
author_sort |
Manuela Marcelino |
title |
The influence of culture and professional judgment on accounting: an analysis from the perspective of information preparers in Portugal |
title_short |
The influence of culture and professional judgment on accounting: an analysis from the perspective of information preparers in Portugal |
title_full |
The influence of culture and professional judgment on accounting: an analysis from the perspective of information preparers in Portugal |
title_fullStr |
The influence of culture and professional judgment on accounting: an analysis from the perspective of information preparers in Portugal |
title_full_unstemmed |
The influence of culture and professional judgment on accounting: an analysis from the perspective of information preparers in Portugal |
title_sort |
influence of culture and professional judgment on accounting: an analysis from the perspective of information preparers in portugal |
publisher |
Conselho Federal de Contabilidade (CFC) |
series |
Revista de Educação e Pesquisa em Contabilidade |
issn |
1981-8610 |
publishDate |
2016-03-01 |
description |
The standards issued by the International Accounting Standards Board (Iasb) are based on principles, which delegate decisions on accounting matters to professional judgment, based on the concepts existing in those standards, with implications for financial reporting. The objective in this study is to analyze the influence of culture on professional judgment, through the analysis of the existence of significant differences in the decisions about the disclosure or recognition of liabilities and assets, as well as to validate (or not) the classification Gray (1988) attributed to Portugal concerning the accounting values of conservatism and secrecy. In that sense, the concepts established in Accounting and Financial Reporting Standard (NCRF) 21, entitled Provisions, Contingent Liabilities and Contingent Assets. Based on the distribution of a questionnaire to the information preparers, which resulted in a sample of 408 professionals, it could be identified through the use of bivariate statistical techniques that there are significant differences in the professionals’ perception of asset and liability disclosure and recognition, revealing a stronger trend towards the disclosure or recognition of liabilities. Concerning conservatism and secrecy, using multivariate statistical techniques, a higher level of conservatism could be verified as an accounting value in Portugal, as well as the existence of an association between conservatism and secrecy. This study attracts standardizing entities’ attention to the importance of aspects related to the information disclosed in the financial statements, particularly regarding the professional judgment. |
topic |
Harmonização Contabilística Valores Culturais Valores Contabilísticos Práticas Contabilísticas Julgamento Profissional. |
url |
http://repec.org.br/index.php/repec/article/view/1214 |
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