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Bematech IFRS

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Slides of my presentation about Bematech transition to IFRS in the Pittsburgh EMBA.

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Bematech IFRS

  1. 1. IFRS1Project AndréFariaGomes afg26@pitt.edu FINANCIAL ACCOUNTING IFRS1Project Professor Theresa Hilliard
  2. 2. 1.Background
  3. 3. Bematech is a leading commercial automation company, delivering POS hardware, solutions, services and training to increase efficiency in retail
  4. 4. The company offers a broadportfolio of integrated solutions specializing in smallandmidsized businesses, offered through a wide distribution network that covers over 415,000pointsofsalein37countries.
  5. 5. In2010,BematechoperatedfourR&Dexcellencecenters,withover1,140professionals inBrazil,China,TaiwanandtheUSAandmorethan4,000resellersinBrazil
  6. 6. ScenarioBrazil2010 6% Retail Revenue Growth in 2010. R$ 100+ Billion Market 3.4 Trillion Invested in IT (5.4% more than 2009) 51% of all ECFs (“tax printers”) were produced by Bematech Growth Pushed by new IT Obligations regarding Taxes (SPEDs) Reduction of tax evasion (sonegação) in Brazil
  7. 7. 3revenuestreams:Hardware,SoftwareandServices
  8. 8. 2.FinancialStatements
  9. 9. BalanceSheet Limitedinventorycomparedtocash Similarcurrentandnoncurrentbalances
  10. 10. BalanceSheet Similarcurrentandnoncurrentbalances-Equitysuperiortoliabilities
  11. 11. IncomeStatement +20%growthinnetincomein2010
  12. 12. StatementsofCashFlows (In thousands of Reais) positiveCF decreasein investments
  13. 13. 3.FinancialRatios
  14. 14. CurrentRatio BRGAAP IFRS 2.68 2.78
  15. 15. AcidRatio BRGAAP IFRS 2.39 2.49
  16. 16. InventoryTurnOverRatio BRGAPP IFRS 6.84 7.01 COGS=191,236
  17. 17. ProfitMargin BRGAPP IFRS 10.49% 10.49%
  18. 18. 4.IFRSTransition ReconcilingItems
  19. 19. TransitiontoIFRS (In thousands of Reais)
  20. 20. TransitiontoIFRS a) Amortizationofintangibleassets: Intangible assets should be amortized according to their estimated useful life g) Acquisitionofinvestments: we recognized the estimated amount payable with respect to the acquisitions made prior to this date
  21. 21. TransitiontoIFRS (In thousands of Reais)
  22. 22. TransitiontoIFRS (In thousands of Reais) b) Proposeddividends: 
 Only the mandatory minimum dividends are recognized as a liability before approval by the shareholders.
 (25% of the adjusted profit) The adjustments presented refer to the dividends that were recognized as liabilities by the company in an amount greater than the aforementioned mandatory minimum percentage.
  23. 23. 5.FurtherInformation
  24. 24. Bematech2010+ The company continued to grow over the years and kept its inventory relatively low
  25. 25. AndréFariaGomes afg26@pitt.edu Thankyou!