Using a new institutional economics perspective, this article analyses the economic and political context that led to accounting standardisation in Portugal from 1977 onwards and to the recent adoption of the International Financial Reporting Standards (IFRS). The process of accounting standardisation was related to the tax reform of 1963. Additionally, evidence was found that there were also political pressures related to the need to improve the national systems of accounts. The lack of development of the accounting profession and the emphasis on legality substantiated the need for enforcement in the law in 1977 of a standardised accounting plan that was similar to other plans in Europe, namely the French Plan. In a legalist country like Portugal, the modelling of national standards on the international ones and the definitive adoption of adapted IFRS in 2010 by unlisted companies had to be complemented by the enactment in law of the accounting regulations.
Early draft, please do not cite or quote without the authors' permission.Abstract -Organisations can symbolically manage their activities through organisational communication, thus this study assumes that organisations are not passive agents and have a choice when pressured by the institutional environment in which they operate. This paper adopts Oliver's (1991) and Elsbach's (1994) theoretical frameworks to examine organisational strategic responses to the pressures and institutional expectations provided in the CEO communications in the media. This analysis was developed through an interpretative case study of EDP -Energias de Portugal, S.A., the largest Portuguese group in the electricity sector during the period from 2010 to 2014, which includes the Economic and Financial Assistance Programme (EFAP) to Portugal. The results show that through the CEO communications in the media, EDP attempted to influence stakeholders' perceptions and to legitimate organisational behaviour. The case study demonstrates that the CEO used subtle ways to introduce positive bias, thus demonstrating that organisations do not blindly conform to the expectations of the institutional environment but adopt complex responses involving active agency and organisational interests. Finally, the study demonstrates that like self-interest and power, the constituents' expectations play an important role in determining the specific strategic responses to the institutional environment.
This chapter aims to provide, for all those that pursue a managerial career in the private industry, public sector, government, technological and engineering area, the "core" concepts, principles, rules and techniques of the accounting area. Positioning accounting within its broader social, economic and historical context, this chapter provides useful insights concerning the needs of different users of accounting information and provides a clear understanding of the differences and complementarities between financial and management accounting. In detail, the chapter defines accounting; analyses the evolution of accounting from mediaeval times to present; identifies the users of accounting information and their needs; identifies the objectives of financial reporting; identifies the qualities that make financial statements useful; defines the basic elements of financial statementsassets, liabilities, equity, income and expenses; provides an understanding of the accrual basis and going concern assumptions which underlie the preparation of financial statements; explains the nature and purpose of accounting standards; and introduces the financial statements that appear in a set of published accounts. To complement, the main concepts of management accounting and the distinctiveness and usefulness of the information it provides for decision-making are described.
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