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Abstract(s)
A inexistência de uma definição concreta no normativo em vigor até 2019 – IAS 17 – do conceito de locação operacional, dava às instituições a possibilidade de escriturarem estas locações nas suas demonstrações financeiras como custos decorrentes da sua atividade normal.
Com o intuito de não desvirtuar as demonstrações financeiras o IASB publicou a IFRS 16, que entrou em vigor a 1 de janeiro de 2019. Esta nova norma tem como objetivo que as empresas passem a escriturar as locações operacionais da mesma forma que escrituram as financeiras. Com a aplicação desta norma as empresas passam a contabilizar no Balanço os ativos sobre direitos de uso e os passivos de locação, e na Demonstração de Resultados a registar as amortizações e os juros nas rúbricas homónimas.
A adoção da IFRS 16 levou a grandes alterações em todas as demonstrações financeiras das empresas, impactando praticamente todos os indicadores analisados por gestores, acionistas e analistas.
Na sequência da aplicação da norma pretende-se com este estudo analisar os impactos ocorridos não só na estrutura de capital e no equilíbrio financeiro, mas também nos restantes rácios que se demonstrem impactados pela norma.
Será apresentado o caso de estudo do grupo Jerónimo Martins, SGPS, S.A., pela sua dimensão, componente internacional e características do negócio. Paralelamente, serão tidos como instrumentos de análise, os dados do Banco de Portugal para o setor.
The absence of a concrete definition of the concept of operating lease in the regulations in place until 2019 – IAS 17 – gave institutions the possibility of recording these leases in their financial statements as costs arising from their normal activity. To avoid distorting the financial statements, the IASB published IFRS 16, which came into effect on January 1st, 2019. This new standard aims to ensure that companies record operating leases in the same way they record financial leases. With the application of this standard companies: record in the Balance Sheet the assets on rights of use and lease liabilities; and in the Income Statement the amortization and interest, under the same headings. The adoption of IFRS 16 led to major changes in all companies' financial statements, impacting practically all the indicators analyzed by managers, shareholders and analysts. Following the application of the standard, this study aims to analyze the impacts of the application of IFRS 16 not only on the capital structure and financial balance, but also on the remaining ratios that are demonstrated to be impacted by the standard. The case study of the Jerónimo Martins, SGPS, S.A. group will be presented, due to its size, international component and business characteristics. Similarly, data from Banco de Portugal for the sector will be used for the analysis.
The absence of a concrete definition of the concept of operating lease in the regulations in place until 2019 – IAS 17 – gave institutions the possibility of recording these leases in their financial statements as costs arising from their normal activity. To avoid distorting the financial statements, the IASB published IFRS 16, which came into effect on January 1st, 2019. This new standard aims to ensure that companies record operating leases in the same way they record financial leases. With the application of this standard companies: record in the Balance Sheet the assets on rights of use and lease liabilities; and in the Income Statement the amortization and interest, under the same headings. The adoption of IFRS 16 led to major changes in all companies' financial statements, impacting practically all the indicators analyzed by managers, shareholders and analysts. Following the application of the standard, this study aims to analyze the impacts of the application of IFRS 16 not only on the capital structure and financial balance, but also on the remaining ratios that are demonstrated to be impacted by the standard. The case study of the Jerónimo Martins, SGPS, S.A. group will be presented, due to its size, international component and business characteristics. Similarly, data from Banco de Portugal for the sector will be used for the analysis.
Description
Mestrado em Análise Financeira
Keywords
Locação operacional IFRS 16 Normativo contabilístico Demonstrações financeiras Operating lease IFRS 16 Accounting standard Financial statements
Citation
Ferreira, F. J. P. (2024) A estrutura de capitais e o equilíbrio financeiro – o impacto da IFRS16 Estudo de caso: Jerónimo Martins SGPS SA. [Dissertação de mestrado, Instituto Superior de Contabilidade e Administração de Lisboa]. Repositório Científico do Instituto Politécnico de Lisboa. http://hdl.handle.net/10400.21/17429