Análise do impacto da utilização da contabilidade de hedge nas Demonstrações Contábeis da Petróleo Brasileiro S.A.

Abstract

Hedge accounting, related to risk management, is an instrument of protection available to entities and object of recent regulatory changes in Brazil. In 2013, the mechanism was incorporated into the accounting practices adopted by Petróleo Brasileiro S.A., one of Brazil's most prominent international companies. The practice, however, was questioned by the Securities and Exchange Commission in 2017, which previously determined the rectification of the Financial Statements inherent to 2013, 2014 and 2015 financial years. In this scenario, the problem of the present study proposed the analysis of the reflexes produced as a result of the use of the practice by the company and aimed at characterizing the company for further preparation, application and comparison of the cash flow hedge results. As hypotheses, the study considered both the benefit of using the hedge in Petrobras accounting and the technical-scientific knowledge regarding the subject. The association of the methodologies of qualitative study, explanatory research and case study made possible the development of analyzes and comparisons, which supported the conclusions of the investigation. In addition, the developed theoretical framework was taken as a basis for further development and analysis of the data and results. The results observed that when considering scenarios relatively distant from those actually carried out, Petrobras - which had a profit in 2013 financial year - incurred losses in 2014 and 2015 financial years. As a conclusion, it was verified that the sharp variation of the US dollar compromised the performance of the company, making the effectiveness of the use of hedge to be questioned.