Lease : an analysis of the effects of IFRS 16 on the financial ratios of the largest retail companies in B3 (BRASIL, BOLSA, BALCÃO)

Em janeiro de 2019 entrou em vigor a nova norma International Financial Reporting Standards (IFRS) 16 ‘Leases’ emitida pelo International Accounting Standards Board (IASB). No Brasil, a convergência a IFRS 16 se dará conforme o pronunciamento técnico CPC 06 (R2). Conforme estudo divulgado pela KPMG sobre os impactos que esta norma teria nas demonstrações das empresas, o segmento varejista foi destacado como fortemente impactado com a vigência da norma. Portanto, foram selecionadas as maiores empresas de varejo do Brasil que possuem o capital aberto listada na B3 S/A Brasil, Bolsa, Balcão. Portanto, foram selecionadas as cinco maiores empresas varejistas brasileiras segundo do Instituto Brasileiro de Executivos de Varejo & Mercado de Consumo (IBEVAR). As empresas que participaram da amostra deste estudo optaram pela retrospectiva completa do CPC 06 (R2) e, consequentemente, aplicaram o CPC 23 – Políticas Contábeis, Mudança de Estimativa e Retificação de Erros. Portanto, as companhias da amostra foram Via Varejo S.A. e a Companhia Brasileira de Distribuição, também conhecida como GPA. Adicionalmente, foi selecionado para este estudo o segmento de mais peso nas vendas do varejo segundo o IBEVAR que se refere ao segmento de Hiper & Supermercados e Bebidas. Desta maneira, a companhia AMBEV S.A. – única no segmento de bebidas listada na B3 - foi selecionada para também fazer parte da amostra, visto que já havia empresas do ramo de Hiper & Supermercados. Trata-se de uma pesquisa documental, descritiva e de natureza qualitativa e quantitativa. Neste estudo, verificou-se os efeitos da adoção da nova norma nas práticas contábeis, por meio da análise de índices financeiros e da análise das notas explicativas das demonstrações. Observou-se que as companhias analisadas tiveram semelhanças entre as informações divulgadas em nota explicativa do ano de 2018, ou seja, como a regra anterior vigente até janeiro de 2019, o International Acounting Standards (IAS) 17 ‘Leases’. Conforme analisado, as empresas da amostra tiveram efeitos relevantes em todos os índices avaliados, e, consoante ao estudo realizado pela KPMG antes do vigor da norma, os índices destacados realmente foram bastante impactados no segmento do varejo.In January 2019, the new International Financial Reporting Standards (IFRS) 16 ‘Leases’ issued by the International Accounting Standards Board (IASB) came into force. In Brazil, the convergence to IFRS 16 will take place according to rule CPC 06 - Revision 2. According to a study released by KPMG on the impacts that this standard would have on the companies' statements, the retail segment was highlighted as strongly impacted with the validity of the standard. Therefore, the largest retail companies in Brazil that are publicly traded companies listed on the B3 S/A Brasil, Bolsa, Balcão were selected. Thus, the five largest Brazilian retail companies were selected according to the Brazilian Institute of Retail & Consumer Market Executives (IBEVAR). The companies that participated in the sample of this study opted for the complete retrospective of CPC 06 (R2) and, consequently, applied CPC 23 - Accounting Policies, Change of Estimate and Correction of Errors. Therefore, the sample companies were Via Varejo S.A. and Companhia Brasileira de Distribuição, also known as GPA. Additionally, the segment with the highest weight in retail sales was selected for this study according to IBEVAR, which refers to the Hyper & Supermarkets and Beverages segment. This way, the company AMBEV S.A. - the only one in the beverage segment listed on B3 - was selected to also be part of the sample, since there were already companies in the Hyper & Supermarkets business. This is a documental research, descriptive and of quali-quantitative nature. In this study, the effects of the adoption of the new standard on accounting practices were verified, through the analysis of financial ratios and the analysis of the notes to the financial statements. It was observed that the companies analyzed had similarities between the information disclosed in an explanatory note for the year 2018, that is, as the previous rule in force until January 2019, the International Acounting Standards (IAS) 17 ‘Leases’. As analyzed, the companies in the sample had significant effects on all the evaluated indexes, and, according to the study carried out by KPMG before the rule was in force, the highlighted indexes were really quite impacted in the retail segment

Guidelines for the use of flow cytometry and cell sorting in immunological studies (third edition)

The third edition of Flow Cytometry Guidelines provides the key aspects to consider when performing flow cytometry experiments and includes comprehensive sections describing phenotypes and functional assays of all major human and murine immune cell subsets. Notably, the Guidelines contain helpful tables highlighting phenotypes and key differences between human and murine cells. Another useful feature of this edition is the flow cytometry analysis of clinical samples with examples of flow cytometry applications in the context of autoimmune diseases, cancers as well as acute and chronic infectious diseases. Furthermore, there are sections detailing tips, tricks and pitfalls to avoid. All sections are written and peer‐reviewed by leading flow cytometry experts and immunologists, making this edition an essential and state‐of‐the‐art handbook for basic and clinical researchers.DFG, 389687267, Kompartimentalisierung, Aufrechterhaltung und Reaktivierung humaner Gedächtnis-T-Lymphozyten aus Knochenmark und peripherem BlutDFG, 80750187, SFB 841: Leberentzündungen: Infektion, Immunregulation und KonsequenzenEC/H2020/800924/EU/International Cancer Research Fellowships - 2/iCARE-2DFG, 252623821, Die Rolle von follikulären T-Helferzellen in T-Helferzell-Differenzierung, Funktion und PlastizitätDFG, 390873048, EXC 2151: ImmunoSensation2 - the immune sensory syste

Effects of Anacetrapib in Patients with Atherosclerotic Vascular Disease

BACKGROUND: Patients with atherosclerotic vascular disease remain at high risk for cardiovascular events despite effective statin-based treatment of low-density lipoprotein (LDL) cholesterol levels. The inhibition of cholesteryl ester transfer protein (CETP) by anacetrapib reduces LDL cholesterol levels and increases high-density lipoprotein (HDL) cholesterol levels. However, trials of other CETP inhibitors have shown neutral or adverse effects on cardiovascular outcomes. METHODS: We conducted a randomized, double-blind, placebo-controlled trial involving 30,449 adults with atherosclerotic vascular disease who were receiving intensive atorvastatin therapy and who had a mean LDL cholesterol level of 61 mg per deciliter (1.58 mmol per liter), a mean non-HDL cholesterol level of 92 mg per deciliter (2.38 mmol per liter), and a mean HDL cholesterol level of 40 mg per deciliter (1.03 mmol per liter). The patients were assigned to receive either 100 mg of anacetrapib once daily (15,225 patients) or matching placebo (15,224 patients). The primary outcome was the first major coronary event, a composite of coronary death, myocardial infarction, or coronary revascularization. RESULTS: During the median follow-up period of 4.1 years, the primary outcome occurred in significantly fewer patients in the anacetrapib group than in the placebo group (1640 of 15,225 patients [10.8%] vs. 1803 of 15,224 patients [11.8%]; rate ratio, 0.91; 95% confidence interval, 0.85 to 0.97; P=0.004). The relative difference in risk was similar across multiple prespecified subgroups. At the trial midpoint, the mean level of HDL cholesterol was higher by 43 mg per deciliter (1.12 mmol per liter) in the anacetrapib group than in the placebo group (a relative difference of 104%), and the mean level of non-HDL cholesterol was lower by 17 mg per deciliter (0.44 mmol per liter), a relative difference of -18%. There were no significant between-group differences in the risk of death, cancer, or other serious adverse events. CONCLUSIONS: Among patients with atherosclerotic vascular disease who were receiving intensive statin therapy, the use of anacetrapib resulted in a lower incidence of major coronary events than the use of placebo. (Funded by Merck and others; Current Controlled Trials number, ISRCTN48678192 ; ClinicalTrials.gov number, NCT01252953 ; and EudraCT number, 2010-023467-18 .)

Dual Inhibition of PI3 Kinase and MAP Kinase Signaling Pathways in Intrahepatic Cholangiocellular Carcinoma Cell Lines Leads to Proliferation Arrest but Not Apoptosis

Cholangiocellular carcinoma (CCA) is the second most common primary liver cancer, with increasing incidence worldwide and inadequate therapeutic options. Intra- and extrahepatic bile ducts have distinctly different embryonic origins and developmental behavior, and accordingly, intra- and extrahepatic CCAs (ICC vs. ECC) are molecularly different. A promising strategy in oncotherapy is targeted therapy, targeting proteins that regulate cell survival and proliferation, such as the MAPK/ERK and PI3K/AKT/mTOR signaling pathways. Inhibitors of these pathways have been tested previously in CCA cell lines. However, these cell lines could not be clearly assigned to ICC or ECC, and the results indicated apoptosis induction by targeted therapeutics. We tested targeted therapeutics (selumetinib, MK2206) in three defined ICC cell lines (HuH28, RBE, SSP25). We observed additive effects of the dual inhibition of the two pathways, in accordance with the inhibition of phospho-AKT and phospho-ERK1/2 expression. Proliferation was blocked more effectively with dual inhibition than with each single inhibition, but cell numbers did not drop below baseline. Accordingly, we observed G1 phase arrest but not apoptosis or cell death (measured by cleaved caspase-3, AIFM1 regulation, sub-G0/G1 phase). We conclude that the dual inhibition of the MAPK/ERK and PI3K/AKT/mTOR pathways is highly effective to block the proliferation of ICC cell lines in vitro; however, potential clinical applications must be critically examined, as a proliferation block could also induce resistance to standard therapies

The role of perceived energy and self-beliefs for physical activity and sports activity of patients with multiple sclerosis and chronic stroke

Physical activity counteracts some of the negative consequences associated with chronic neurological diseases. Here, we describe the levels of physical activity (PA) and sports activity (Sport) in patients with multiple sclerosis (pMS, n = 59) and chronic stroke (pStroke, n = 67) and test compliance with the recommendation for health-promoting physical activity of the World-Health Organization (WHO). Secondly, we tested for differences between the groups of patients, and thirdly, we examined relationships between PA and Sport with psychological indicators of perceived energy (fatigue and vitality) and self-beliefs (self-efficacy and self-control). Psychological constructs were assessed with validated measures from different disciplines in Psychology. A statistical aim was to describe interpretations gained by (non-) parametric Bayesian and Null- Hypothesis-Significance Testing statistics (NHST) on the example of the conducted tests for differences and relationships. Descriptive analyses revealed that pMS and pStroke complied with recommendations of the WHO, but with large variance indicating that patient groups are not homogenous. Tests for differences showed that the PA difference between pMS and pStroke can be attributed to the higher proportion of women in the pMS sample as they engage more in household chores (important part of PA). Tests for relationships showed that for pStroke, vitality, self-control, and self-efficacy were positively related to the level of sports activity. Furthermore, pStroke who were sport active had lower fatigue and higher self-control and self-efficacy scores than sport inactive people. Although they address slightly different questions, the Bayesian and the NHST approach led to similar general conclusions.publishe

Avoidance goal pursuit depletes self-regulatory resources.

Objective Research on the strength model of self-regulation is burgeoning, but little empirical work has focused on the link between distinct types of daily goal pursuit and the depletion of self-regulatory resources. The authors conducted two studies on the link between avoidance goals and resource depletion. Method Study 1 (283 [228 female] Caucasians, ages 18–51) investigated the concurrent and longitudinal relations between avoidance goals and resource depletion over a 1-month period. Study 2 (132 [93 female] Caucasians, ages 18–49) investigated the concurrent and longitudinal relations between avoidance goals and resource depletion over a 1-month period and explored resource depletion as a mediator of the avoidance goal to subjective well-being relation. Results Studies 1 and 2 documented both a concurrent and a longitudinal negative relationship between avoidance goals and self-regulatory resources, and Study 2 additionally showed that self-regulatory resources mediate the negative link between avoidance goals and subjective well-being. Ancillary analyses demonstrated that the results observed in the two studies were independent of neuroticism. Conclusions These findings advance knowledge in both the resource depletion and avoidance goal literatures, and bolster the view that avoidance goal pursuit over time represents a self-regulatory vulnerability

Using a novel stress resilience score to construct and investigate self-efficacy networks in high compared to low resilient adults

The following paper has been published on this research project: Schueler, K., Fritz, J., Dorfschmidt, L., Van Harmelen, A. L., Strömer, E., & Wessa, M. (2021). Psychological Network Analysis of General Self-Efficacy in High vs. Low Resilient Functioning Healthy Adults. Frontiers in Psychiatry. https://doi.org/10.3389/fpsyt.2021.736147 Psychological network analysis has been widely used to model symptom networks of psychiatric disorders with promising results for a better understanding of psychopathology (Borsboom et al., 2017). Only few studies exist which transfer this method to the concept of resilience to stress-related psychopathology. Resilience is the adaptive process that leads to maintenance or quick recovery after stress exposure (Kalisch et al., 2017). Resilience factors, such as general self-efficacy, are psychological (or other) constructs contributing to resilience (Kalisch et al., 2017). So far, research approaches mainly include resilience as a dynamic property of psychopathology symptom networks (PSN) (Borsboom et al., 2017) or networks of resilience factors (RFN) after adversity exposure (Fritz et al., 2018). However, it remains unknown how RFN might potentially differ with respect to resilience itself. The network structure and connectivity of resilience factors might provide important information about resilience after stress exposure. In dynamic PSN, Cramer et al. (2016) stated that stronger network connectivity is associated with an increase in synchronized activation of symptoms resulting in a stable activation pattern that is less likely to reverse. This leads to mutual reinforcement of psychopathology symptoms. This mechanism might actually be beneficial in the case of resilience. Additionally, connectivity differences of cross-sectional RFN might contribute to an enhancement of resilience factors after childhood adversity (Fritz et al., 2018). Thus, increased connectivity of RFN might potentially play a role in the development and maintenance of resilience. A promising way to quantify resilience as such has been applied for example by van Harmelen and colleagues (2016). They used principal components analysis to extract latent scores of both childhood adversity and psychosocial functioning and related them to each other using regression analysis. Resilience scores (“resilient functioning scores”) were the regression residuals. This study aims at investigating properties of a network model of self-efficacy with respect to a novel resilience score indicating high versus low individual levels of resilience. Adapting the idea of connectivity differences in dynamic PSN (Cramer et al., 2016) we expect the self-efficacy network to differ in high resilient compared to low resilient individuals. We hypothesize that high resilient individuals show stronger positive connectivity between self-efficacy items than low resilient individuals. To address this, we firstly employ a novel methodology to compute resilience scores in a large cross-sectional sample of approximately 850 adults. These resilience scores indicate whether one’s mental health is better or worse or exactly as expected given individual stress exposure. We use partial-least squares (PLS) regression (Seidlitz, et al, 2018; Vértes et al. 2016; Whitaker et al., 2016) to predict an expected level of mental health by stress exposure and extract resilience scores as regression residuals. An established measure of resilient functioning (van Harmelen et al., 2017) will be used to validate our PLS regression approach. All data are self-report measures. As a second step, we split our sample and explore the structure of self-efficacy network models of high vs. low resilient subjects. For the network analysis of both networks, we focus on global connectivity indices - e.g. degree, strength, expected influence, shortest path length, global efficiency - and additionally explore the network structure. Results might provide a useful way to quantify resilience and help to better understand the nature of self-efficacy with respect to resilience itself

Guidelines for the use of flow cytometry and cell sorting in immunological studies (third edition)

Cossarizza A, Chang H‐D, Radbruch A, et al. Guidelines for the use of flow cytometry and cell sorting in immunological studies (third edition). European Journal of Immunology. 2021;51(12):2708-3145.The third edition of Flow Cytometry Guidelines provides the key aspects to consider when performing flow cytometry experiments and includes comprehensive sections describing phenotypes and functional assays of all major human and murine immune cell subsets. Notably, the Guidelines contain helpful tables highlighting phenotypes and key differences between human and murine cells. Another useful feature of this edition is the flow cytometry analysis of clinical samples with examples of flow cytometry applications in the context of autoimmune diseases, cancers as well as acute and chronic infectious diseases. Furthermore, there are sections detailing tips, tricks and pitfalls to avoid. All sections are written and peer-reviewed by leading flow cytometry experts and immunologists, making this edition an essential and state-of-the-art handbook for basic and clinical researchers