Open AccessSubmission of finantial statements by micro companies and small businesses in biddings under the rule of Law 123/2006
Author(s) -
Patricia Vilela dos Santos,
Ivana Carneiro Almeida,
João César de Souza Ferreira,
Luiz de Souza Gomes
Publication year - 2020
Publication title -
research, society and development
Language(s) - English
Resource type - Journals
ISSN - 2525-3409
DOI - 10.33448/rsd-v9i7.4059
Subject(s) - accounting , bookkeeping , balance sheet , interpretation (philosophy) , business , small business , uniform commercial code , bidding , commercial law , clipping (morphology) , law , law and economics , political science , economics , marketing , computer science , linguistics , philosophy , programming language
The current article aims to investigate if micro and small businesses, classified as micro companies/ small businesses, are obliged to present balance sheet registered in corresponding body in biddings according to law 123/2006. To that end, we use a clipping in the law nº 10.406/02 text, Brazilian Civil Code, or by Complementary Law nº 123/06, applicable to the micro company and to the small business, yet aggregated to Managemt Board of Simples Nacional resolutions and also of the Accounting Federal Board as General Technical Interpretation resolution 1000, through bibliographic and descriptive methodology. It was verified that the obligatoriness of the anual accounting bookkeeping by the Micro Companies and Small businesses is crucial to take part in bidding events, besides being essential to data provision to controlling and decising making.