Publicação
Professional judgments underlying the SNC and their tax impacts on IRC
| Resumo: | The internationalization of markets has intensified the need to generate a single accounting system that is internationally accepted and simplify access to international capital markets. The national accounting framework has undergone a profound reform with the entry into force in 2010, the SNC, which has its base in international normative, more precisely in the IAS/IFRS. The SNC is a model that places emphasis on accounting theory rather than mechanized accounting rules. It is a principles-based accounting system that gives prominence to professional judgment in preparing financial information. The adoption the SNC requires a change in thinking accounting and financial reporting. It is an accounting model that incorporates value judgments, where the conceptual framework should be considered a fundamental theoretical base to support the application of NCRF included in the SNC. This paper aims to highlight the professional judgments underlying the SNC, our objective is to identify situations where value judgments are implicit and analyze their tax impacts for IRC. |
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| Autores principais: | Silva, Nuno Miguel Pereira da |
| Assunto: | julgamento profissional juízos de valor justo valor SNC IAS/IFRS IRC professional judgment judgments of value fair value SNC IAS/IFRS IRC |
| Ano: | 2013 |
| País: | Portugal |
| Tipo de documento: | artigo |
| Instituição associada: | ISCA da Universidade de Aveiro |
| Idioma: | português |
| Origem: | Estudos do ISCA |
| Resumo: | The internationalization of markets has intensified the need to generate a single accounting system that is internationally accepted and simplify access to international capital markets. The national accounting framework has undergone a profound reform with the entry into force in 2010, the SNC, which has its base in international normative, more precisely in the IAS/IFRS. The SNC is a model that places emphasis on accounting theory rather than mechanized accounting rules. It is a principles-based accounting system that gives prominence to professional judgment in preparing financial information. The adoption the SNC requires a change in thinking accounting and financial reporting. It is an accounting model that incorporates value judgments, where the conceptual framework should be considered a fundamental theoretical base to support the application of NCRF included in the SNC. This paper aims to highlight the professional judgments underlying the SNC, our objective is to identify situations where value judgments are implicit and analyze their tax impacts for IRC. |
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