Cryptocurrencies: trend or reality? Evidence from the financial statements of Brazilian public companies

Authors

DOI:

https://doi.org/10.22567/rep.v10i2.788

Keywords:

cryptocurrency, blockchain, accounting, disclosure

Abstract

This study investigated the disclosure of transactions and any reservations of cryptocurrencies in 2018 financial statements of Brazilian companies listed in B3, through content analysis of the explanatory notes of companies indexed in the index IBRX100. This paper is supported by the Theory of Voluntary Disclosure Information technology aligned to globalization are factors of a significant impact on economic activities worldwide. We used procedures for bibliographic and search of secondary data through documentary research, given that the information compiled by the study were extracted from the explanatory notes of Brazilian companies listed in B3. The technique used was the analysis of content. The research identified the extensive use of real (BRL) as functional currency and the US dollar (USD) as the main foreign currency. The study did not find the disclosure of the use of cryptocurrencies. Or even the existence of assets recorded on cryptocurrencies or even the use of the validator chain called blockchain. This finding corroborates the theory of voluntary disclosure and contradicts the previous studies that point to more extensive use of cryptocurrencies on regular business activity. Thus, the study contributes to the literature on cryptocurrency operations in Brazil. This study proposes questions regarding the use and disclosure of cryptocurrencies in financial statements of Brazilian companies.

Author Biographies

Juliano Augusto Orsi Araujo, Universidade Ibirapuera

Professor Titular do Mestrado Profissional em Administração da Universidade Ibirapuera. Doutor em Contabilidade pela Faculdade de Economia, Administração e Contabilidade de Ribeirão Preto (FEA-RP) da Universidade de São Paulo (USP). Vencedor do Prêmio Olivio Koliver - Melhor artigo publicado na Revista Brasileira de Contabilidade (2014). Mestre em Ciências Contábeis pelo Centro Universitário Alvares Penteado - FECAP (2012). Especialista em Controladoria Estratégica pela Universidade São Judas Tadeu (2004). Possui graduação em Ciências Contábeis pela Universidade São Francisco (2002). Delegado do Conselho Regional de Contabilidade do Estado de São Paulo na cidade de Atibaia. Atualmente é titular da Express Contábil EIRELI.

Simone Costa Loia Araujo, Universidade Ibirapuera

Aluna do Mestrado Profissional em Administração da Universidade Ibirapuera, Brasil

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Published

2021-09-01

How to Cite

Araujo, J. A. O., & Araujo, S. C. L. (2021). Cryptocurrencies: trend or reality? Evidence from the financial statements of Brazilian public companies. Revista Eniac Pesquisa, 10(2), 241–254. https://doi.org/10.22567/rep.v10i2.788

Issue

Vol. 10 No. 2 (2021)

Section

Artigos

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