ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS: A STUDY IN PUBLICLY-TRADED CONSTRUCTION INDUSTRY'S COMPANIES ON THE BM&FBOVESPA

The publication of the Law 11.638/2007 and standards issued by the Comite Pronunciamentos ContAbeis (CPC), Brazilian accounting pronouncements committee, began the convergence of Brazilian standards to International Financial Reporting Standards (IFRS). Some of these standards refer revenue recognition arising from construction contracts, and this directly affected the construction industry. In this sense, the objective of this work is to analyze the rules resulting from the IFRS adoption in Brazil caused by changes in the firms' balance sheet in the construction sector. This research adopted empirical and descriptive study. The sample included companies from the construction sector, publicly-traded on the BM&FBOVESPA, with republication of financial statements for the years 2008 and 2009. As a result, it was observed that there were variations in the financial position of the companies. However, using the Wilcoxon test, such variations were not statistically significant. Among the standards that most led to changes in the balance sheet are: IAS 1 regarding the deferred taxes, IAS 37 which deals with the recognition of values in law and judicial deposits and Brazilian Orientation 01 on the recognition of permutations.