Accounting practices for financial instruments. How far are Portuguese companies from IAS?

The purpose of this study is to analyse the current accounting practices for financial instruments by Portuguese companies and compare them to the measurement, recognition and disclosure requirements stipulated in IAS 32 and 39. In order to attain our objective, we drew up a list of 120 categories of inquiry and 370 possible responses that we were interested in analysing. We applied content analysis technique to 2001 listed companies’ annual reports. Our results suggest that the accounting practices for financial instruments by companies listed on the Portuguese stock exchange are very far from what IAS 32 and 39 require. This is especially observed in the measurement and recognition criteria applied to the categories of financial instruments for which the adoption of fair value is required (that is, held-for-trading and available-for-sale financial assets). In what derivative instruments are concerned, we found that the fair value measurement criterion is being adopted by a large number of derivative users. However, with respect to hedging transactions, the gap between accounting practices and the relevant accounting Standards is quite wide. A big improvement in reporting practices regarding this type of instruments will be needed. These findings throw light on the challenges of adopting IAS, particularly with respect to fair value measurement, now that 2005 is near.Financial instruments accounting, Fair Value, International Accounting, IAS, Portugal

Corporatism, liberalism and the accounting profession in Portugal since 1755

This paper introduces some significant developments in the history of the Portuguese accounting profession. It does so with a view to providing a facilitative foundation of knowledge upon which further analysis and critique can be undertaken. Five developmental periods since 1755 are identified: (i) Corporatist Absolute Monarchy (1755-1820) (ii) Liberal Monarchy (1820-1890) (iii) Waning Liberalism and Rising Corporatism (1891-1926) (iv) Corporatist Dictatorship (1926-1974) and (v) Emerging Liberal Democracy and Neo­corporatism (1974 until the present). The accounting profession\u27s chequered history is analysed through episodes of regulation and de-regulation. These episodes are associated with Portugal\u27s pervading social, economic and political context and are dichotomised broadly as either corporatist or liberal. Relationships between episodes of regulation and periods of corporatism are highlighted, together with associations between episodes of de-regulation and periods of liberalism. A better understanding emerges of factors instrumental in the emergence of a well respected and rapidly growing accounting profession in Portugal

Effects of simple hysterectomy on bone loss

Lumbar spine and proximal femoral bone densities of Caucasian women, aged 35-45, were measured by dual photon densitometry model DPX. The measurement sites were assessed at the lumbar spine (vertebrae L2 to L4) and at the proximal femur (trochanter, femoral neck and Ward's triangle). After exclusion of women with climacteric symptoms, sterilized patients or those with menopausal concentrations of gonadotrophins, the study included 22 subjects: 11 menstruant (control group) and 11 hysterectomized. The hysterectomies were without oophorectomy and had been performed during the previous five years. The bone densities of the hysterectomized women were lower than those of the normal ones, but significantly lower at the Ward's triangle.INTRODUÇÃO: Os autores propuseram-se a avaliar a densidade óssea de mulheres submetidas à histerectomia. Esta cirurgia é, na atualidade, procedimento corriqueiro na prática ginecológica. A histerectomia poderia, eventualmente, alterar a função ovariana e, por conseqüência, determinar queda da massa óssea. MATERIAL E MÉTODOS: Para tanto, estudaram-se 22 mulheres, entre 35 e 45 anos, que foram divididas em dois grupos: grupo I, constituído por mulheres submetidas à histerectomia total prévia e, grupo II, formado por aquelas com útero intacto. Avaliou-se a densidade óssea por meio de densitômetro de dupla emissão, com fontes de raio X (DPX), em coluna lombar (L2-L4), colo do fêmur, triângulo de Ward e trocanter. Para a análise dos resultados utilizou-se o teste de Mann-Whitney e o teste de Friedman (p<0,05). RESULTADOS: Verificou-se que houve diminuição significativa da massa óssea no triângulo de Ward nas mulheres histerectomizadas, quando comparadas às com útero intacto. Ademais, a densidade óssea foi menor na coluna lombar e colo do fêmur das mulheres histerectomizadas.Escola Paulista de Medicina Department of Gynecology and ObstetricsEscola Paulista de Medicina Department of MedicineUNIFESP, EPM, Department of Gynecology and ObstetricsEscola Paulista de Medicina Department of MedicineSciEL

Early cost accounting practices and private ownership: The Silk Factory Company of Portugal, 1745-1747

This paper contributes to an understanding of the historical development of management accounting by presenting an example of cost accounting practice in Portugal in the first half of the 18th century. It explores the integration of cost and financial accounting systems within a double- entry accounting framework by the Silk Factory Company (SFC) between 1745 and 1747. The SFC\u27s methods of product costing, pricing, inventory accounting, expense recognition, and production control are reviewed within the political, economic, and social context of Portugal at the time. The SFC is revealed to have used job-order product costing, with allocations of overhead costs, allowances for wastage and shrinkage, and elements of rudimentary standard costing. Our findings provide evidence of the existence of cost accounting and management control techniques at a private rather than a state-owned enterprise prior to the industrial revolution

FACTORES DETERMINANTES NA IMPLEMENTAÇÃO DO BALANCED SCORECARD EM PORTUGAL

Balanced Scorecard (BSC) is recognized, both in the academic and business world, as one of the most powerful strategic management accounting tools. Thus, a empirical study was performed, based on a questionnaire launched in October 2004 and applied to the 250 largest Portuguese companies aiming at assessing the knowledge, use, and the characteristics of companies which are adopting this management instrument. Despite the majority of the companies inquired recognizing BSC more as a strategic management tool than a performance valuation system, the results show that there is still a reduced and recent use of BSC in Portugal. Similarly to other countries, Portugal is still in the initial state of BSC utilization. Our work showed that the companies that use more BSC belong mainly to the secondary sector of industry. Nevertheless, unlike other studies, we did not get empirical evidence on the influence of variables such as geographical localization, size and internationalization, in the use and knowledge of BSC in Portugal.O Balanced Scorecard (BSC) é reconhecido, quer no mundo académico quer no mundo empresarial, como uma das mais poderosas ferramentas de Contabilidade de Gestão Estratégica. Neste sentido, desenvolvemos um estudo empírico, consubstanciado num questionário, em outubro de 2004, aplicado às 250 maiores empresas portuguesas, com o objectivo de averiguar qual o nível de conhecimento, utilização e características das empresas que adoptam este instrumento de gestão. As principais conclusões retiradas foram que apesar da maioria dos inquiridos conhecer o BSC e de o considerar mais como uma ferramenta de gestão estratégica do que como um sistema de avaliação do desempenho, a sua utilização em Portugal ainda é reduzida e recente. À semelhança do registado em outros países, o BSC em Portugal ainda está numa fase inicial. O estudo revelou também que são essencialmente as empresas pertencentes ao sector secundário que mais utilizam o BSC. Não obstante, ao contrário de outros estudos, não obtivemos evidência empírica sobre a influência de variáveis como a localização geográfica, dimensão e internacionalização na utilização e conhecimento do BSC em Portugal

FACTORES DETERMINANTES NA IMPLEMENTAÇÃO DO BALANCED SCORECARD EM PORTUGAL

Balanced Scorecard (BSC) is recognized, both in the academic and business world, as one of the most powerful strategic management accounting tools. Thus, a empirical study was performed, based on a questionnaire launched in October 2004 and applied to the 250 largest Portuguese companies aiming at assessing the knowledge, use, and the characteristics of companies which are adopting this management instrument. Despite the majority of the companies inquired recognizing BSC more as a strategic management tool than a performance valuation system, the results show that there is still a reduced and recent use of BSC in Portugal. Similarly to other countries, Portugal is still in the initial state of BSC utilization. Our work showed that the companies that use more BSC belong mainly to the secondary sector of industry. Nevertheless, unlike other studies, we did not get empirical evidence on the influence of variables such as geographical localization, size and internationalization, in the use and knowledge of BSC in Portugal.O Balanced Scorecard (BSC) é reconhecido, quer no mundo académico quer no mundo empresarial, como uma das mais poderosas ferramentas de Contabilidade de Gestão Estratégica. Neste sentido, desenvolvemos um estudo empírico, consubstanciado num questionário, em outubro de 2004, aplicado às 250 maiores empresas portuguesas, com o objectivo de averiguar qual o nível de conhecimento, utilização e características das empresas que adoptam este instrumento de gestão. As principais conclusões retiradas foram que apesar da maioria dos inquiridos conhecer o BSC e de o considerar mais como uma ferramenta de gestão estratégica do que como um sistema de avaliação do desempenho, a sua utilização em Portugal ainda é reduzida e recente. À semelhança do registado em outros países, o BSC em Portugal ainda está numa fase inicial. O estudo revelou também que são essencialmente as empresas pertencentes ao sector secundário que mais utilizam o BSC. Não obstante, ao contrário de outros estudos, não obtivemos evidência empírica sobre a influência de variáveis como a localização geográfica, dimensão e internacionalização na utilização e conhecimento do BSC em Portugal

Profile of cytokines and soluble TNF receptors in response to moderate and intense exercises in active and remission patients with systemic lupus erythematosus

Introduction: systemic lupus erythematosus (SLE) is a rheumatic autoimmune disease characterized by chronic inflammation that is associated with clinical symptoms and disease severity. Therefore, strategies to reduce inflammation, such as physical exercise, have a potential therapeutic role in SLE due to its anti-inflammatory effects. This study sought to compare cytokines and soluble TNF receptors response to: (1) moderate vs. intense aerobic exercise in active SLE (SLEACT) and remission SLE (SELREM) patients; (2) SLEACT vs. SLEREM patients undergoing moderate and intense aerobic exercises; and (3) SLE patients vs. healthy controls (HC) undergoing moderate and intense aerobic exercises. Methods: twelve SLEREM (age: 35.3±5.7 yrs; BMI: 25.6±3.4 kg/m2), 11 SLEACT (age: 30.4±4.5 yrs; BMI: 26.1±4.8 kg/m2) and 10 age-and BMI-matched HC (age: 30.6±5.2 yrs; BMI: 24.1±2.3 kg/m2) performed 30-min sessions of moderate (~50% of VO2max) and intense (~70% of VO2max) exercises. Serum cytokines (INF-γ, IL-10, IL-6, TNF-α) and soluble receptors (sTNFR1 and sTNFR2) were measured at rest, immediately after the exercise, every 30-min during three hours of recovery, and 24 h after the end of exercise session. Results: there were no differences for cytokines and sTNFRs responses between moderate and intense aerobic exercise for SLEACT and SLEREM patients (P\u3e0.05). Similar responses were found when SLEACT and SLEREM patients were compared for moderate and intense exercises, except for 1) serum TNF-α, which was lower in SLEACT than SLEREM patients after moderate exercise (P\u3c0.05); 2) serum sTNFR1, which was higher in SLEREM than SLEACT patients at 30th and 60th minutes of moderate exercise recovery (P=0.027 and P=0.036, respectively); and 3) serum sTNFR2, which remained higher during both sessions of exercise and recovery for SLEREM in comparison to SLEACT patients (P\u3c0.01). Also, a time-effect was observed for serum IL-6 and TNF-α (P\u3c0.05) after intense exercise with a posterior reduction under baseline values, reaching the values experienced by HC. Conclusion: cytokines and sTNFRs were not different in both exercise intensities for SLEACT and SLEREM, except for a few differences, which pointed out to a less inflammatory pattern in SLEACT patients, suggesting that exercise (even more intensive) can be safely performed by SLE patients with active disease. Finally, the reduction shown in serum IL-6 and TNF-α after intense exercise in SLEACT patients supports evidences for an anti-inflammatory effect of exercise and reinforces the importance of physical exercise to SLE treatment

DOCÊNCIA, SOFRIMENTO E POTÊNCIA DE AÇÃO: : O DRAMA DE ENSINAR NO ENSINO MÉDIO PÚBLICO PELO OLHAR DA PSICOLOGIA

This article aims to present the meanings of teachers about work conditions. The intervention research was carried out with a group of teachers who work at a state school in the interior of São Paulo. The data analysis was based on nineteen meetings held over two years, which were recorded in Field Diaries. And eighteen interviews, which were recorded and transcribed, made at the end of the second year. The analysis focused on the contradictions expressed in the speeches of the teachers to understand the teaching signification process, in line with the assumptions of Historical-Cultural Psychology. The results revealed that meanings of work such as satisfaction and recognition increase the power of the teacher to exercise his practices and create new ways of acting, while meanings permeated by negative feelings, such as anguish, anger and discouragement, not only decrease his involvement with pedagogical activities but also favor their illness and absence from work.Este artículo tiene como objetivo presentar los significados de los docentes sobre las condiciones de trabajo. La investigación de intervención se llevó a cabo con un grupo de maestros que trabajan en una escuela estatal en el interior de São Paulo. El análisis de datos se basó en diecinueve reuniones celebradas durante dos años, que se registraron en Field Diaries. Y dieciocho entrevistas, que fueron grabadas y transcritas, hechas al final del segundo año. El análisis se centró en las contradicciones expresadas en los discursos de los docentes para comprender el proceso de significación docente, en línea con los supuestos de la psicología histórico-cultural. Los resultados revelaron que los significados del trabajo, como la satisfacción y el reconocimiento, aumentan el poder del maestro para ejercer sus prácticas y crear nuevas formas de actuar, mientras que los significados impregnados de sentimientos negativos, como la angustia, la ira y el desánimo, no solo disminuyen su participación en las actividades pedagógicas, sino también favorecer su enfermedad y ausencia del trabajo.Este artigo visa apresentar as significações de professores sobre as condições do trabalho. A pesquisa-intervenção foi realizada com um grupo de professores que atuam em uma escola estadual do interior de São Paulo. A análise de dados teve como fonte dezenove encontros realizados ao longo de dois anos, que foram registrados em Diários de Campo. E dezoito entrevistas, que foram gravadas e transcritas, feitas no final do segundo ano. A análise focalizou as contradições expressas nas falas dos professores para compreender o processo de significação da docência, em consonância com os pressupostos da Psicologia Histórico-Cultural. Os resultados revelaram que significações do trabalho como satisfação e reconhecimento aumentam a potência do professor para exercer suas práticas e criar novas formas de atuar, enquanto significações permeadas por sentimentos negativos, como angústia, raiva e desânimo não só diminuem seu envolvimento com as atividades pedagógicas como favorecem seu adoecimento e afastamento do trabalho