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Juliana Lagreste Zucchini Legajo: 22.130 Escuela de Administración y Negocios Trabajo de Licenciatura en Administración de Empresas y Contador Público LAS NORMAS CONTABLES ACTUALES Y LAS EMPRESAS DE E-COMMERCE. EL CASO DE GROUPON. Juliana Lagreste Zucchini Legajo: 22.130 Mentora: Cristina Wirth Victoria, 29 de Mayo de 2014 Resumen El presente trabajo de investigación busca responder la siguiente pregunta: “¿En qué medida las empresas de e-commerce, puntualmente en este caso Groupon, requieren un marco normativo contable diferente a los marcos actuales?” Para poder responder este interrogante se han analizado los Estados Contables presentados bajo el marco normativo U.S. GAAP de la empresa Groupon Inc. Esta es una empresa de e-commerce, caracterizada por conectar comerciantes con clientes a través de un portal web al ofrecer cupones con grandes descuentos que pueden ser intercambiados por productos o servicios. Se llevó a cabo un estudio descriptivo basado en el modelo de negocios de esta compañía y en las métricas financieras y operativas utilizadas. Asimismo, se realizó una comparación de estos criterios con las U.S. GAAP colocando el foco en los principales rubros conflictivos como son las ventas y los gastos de online marketing. Se encontraron diferencias de criterio entre lo que Groupon propone y lo que el organismo regulador, la U.S. Securities and Exchange Commission exige. Groupon es un negocio nuevo y revolucionario que no solo pretende innovar en el modelo de negocios si no también en los criterios contables. De acuerdo con la U.S. SEC los criterios propuestos por Groupon distorsionan la realidad económica de la compañía evitando que la misma sea comparable con otras. No obstante, la postura de Groupon está amparada en que las U.S GAAP son las que distorsionan la forma de ver y de entender este revolucionario negocio ya que no existe una normativa adecuada para este modelo particular. Palabras clave: E-commerce, Contabilidad, U.S. GAAP, Online Marketing, Marcos Normativos Contables. 2 Agradecimientos Hay varias personas a las cuales me gustaría agradecer que me han acompañado lo largo de todo este lindo camino. Primero, me gustaría agradecer a mi familia. Gracias a mis queridos papas Marcelo y Marcela. Es por ellos que yo pude asistir a esta prestigiosa universidad, realizar dos carreras y abrir infinitas puertas para mi futuro. La contención y el apoyo que me brindaron a lo largo de todos estos años me ayudaron a querer dejar lo mejor de mí en todo momento. Gracias también a mis hermanos Nicolás, Tomás y Marcos que siempre estuvieron dispuestos a ayudarme, a brindarme palabras de aliento y a recordarme que esforzándose se llega lejos. Gracias abuelos Pocho, Tita, Marta y Carlos por prestarme sus casas para ir a estudiar, escuchar mis inquietudes y aconsejarme desde la sabia palabra de la experiencia. Gracias Andrea y Patricio, mis padrinos del alma, por estar siempre presentes, por permitirme seguir ampliando mis horizontes y ayudarme a ver las cosas desde otras perspectivas. Valoro mucho el esfuerzo que todos ustedes hicieron por mí. Segundo, quiero agradecer a mi mentora Cristina Wirth. Desde segundo año cuando cursé con ella la materia Contabilidad I me di cuenta que había encontrado mi vocación y que estaba en el camino correcto haciendo lo que me gusta. Para mí es un honor tenerla como mentora de este trabajo y en la vida profesional. Es una persona a quien admiro profundamente. Tercero, quiero agradecerles a Mariano y a Matías, mi querido grupo de estudio y de tesis. Compartimos tardes y noches enteras escribiendo y compartiendo puntos de vista que además de enriquecer nuestros trabajos, hicieron que hoy desarrolláramos una excelente amistad. Gracias a mi amiga Michelle, quien me ayudó mucho a lo largo de toda la carrera. Gracias a mi amigo Agustín por creer en mí y alentarme a seguir adelante. Por último, me gustaría agradecer a todas aquellas personas que colaboraron para poder desarrollar este trabajo de graduación, como Federico Malek y Anabella Bachur, quienes se mostraron dispuestos a que los entrevistara. 3 Índice Capítulo 1 – Introducción 1. Planteo de la problemática ........................................................................................................ 7 2. Preguntas y objetivos de investigación ..................................................................................... 8 3. Justificaciones de las razones de estudio y limitaciones .......................................................... 9 4. Tipo de estudio ......................................................................................................................... 9 5. Variables a analizar .................................................................................................................. 9 6. Técnicas de recolección de datoss ......................................................................................... 10 Capítulo 2 - Marco teórico 1. Introducción ............................................................................................................................ 11 2. E-commerce & E-business ...................................................................................................... 11 2.1 Definiciones básicas ........................................................................................................ 11 2.2 Características únicas del e-commerce ............................................................................ 12 2.3 Tipos de e-commerce aplicables a Groupon.................................................................... 14 3. Modelo y estrategia de negocio .............................................................................................. 15 3.1 Definición de modelo de negocio y elementos básicos ................................................... 15 3.2 Estrategia de negocio ....................................................................................................... 16 3.2.1 Estrategias de negocios propuestas por Ansoff ........................................................... 16 3.2.2 Clasificación de las estrategias de negocios según O’Shaughnessy ............................ 16 3.2.3 Online marketing y estrategias de negocios e-commerce ............................................ 16 4. Normas Contables ................................................................................................................... 19 4.1 Las normas contables de los EE.UU. .............................................................................. 21 4.1.1 Resultado Bruto ........................................................................................................... 22 4.1.2 Online Marketing y Gastos pre operativos según US GAAP ...................................... 23 Capítulo 3 - El modelo de negocios de Groupon 1. Antecedentes ........................................................................................................................... 24 4 1.2 Nacimiento del Triple Win y el Poder de Compra Colectiva ............................................. 25 2. Evolución del negocio ............................................................................................................. 26 2.1 Expansión internacional .................................................................................................. 27 2.2 Ofertas de compra ............................................................................................................ 27 2.3 Groupon’s IPO ................................................................................................................. 28 3. Productos ................................................................................................................................. 30 3.1 Productos actuales ........................................................................................................... 30 3.2 Distribución ...................................................................................................................... 32 4. Elementos básicos de su modelo de negocios ......................................................................... 34 4.1 Propuesta de valor .................................................................................................................. 34 4.2 Modelo de Ganancia ............................................................................................................... 34 4.3 Oportunidad de Mercado ..................................................................................................... 35 4.4 Ambiente competitivo y ventaja competitivo ..................................................................... 35 4.5 Estrategia de Mercado ......................................................................................................... 35 4.5.1 Estrategias del año 2011 .............................................................................................. 37 4.5.2 Estrategias del año 2012 .............................................................................................. 38 4.5.3 Estrategias del año 2013 .............................................................................................. 38 4.6 Desarrollo Organizacional .................................................................................................... 40 4.7 Equipo gerencial ................................................................................................................... 41 Capítulo 4 - La información financiera sobre el negocio 1. Análisis de los Estado de Resultados Consolidados ..............................................................
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