<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0123-1472</journal-id>
<journal-title><![CDATA[Cuadernos de Contabilidad]]></journal-title>
<abbrev-journal-title><![CDATA[Cuad. Contab.]]></abbrev-journal-title>
<issn>0123-1472</issn>
<publisher>
<publisher-name><![CDATA[Pontificia Universidad Javeriana]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0123-14722017000200083</article-id>
<article-id pub-id-type="doi">10.11144/javeriana.cc18-46.deme</article-id>
<title-group>
<article-title xml:lang="pt"><![CDATA[Desempenho econômico da maior empresa de serviços educacionais do mundo: um estudo da Kroton Educacional com base em seus segmentos operacionais]]></article-title>
<article-title xml:lang="en"><![CDATA[Financial Performance of the Biggest Educational Company in the World: A Study on Kroton Educacional Based on its Operative Segments]]></article-title>
<article-title xml:lang="es"><![CDATA[Desempeño económico de la mayor empresa de servicios educativos del mundo: un estudio de Kroton Educativa con base en sus segmentos operativos]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Alves e Souza]]></surname>
<given-names><![CDATA[Júlia]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[José Mendonça]]></surname>
<given-names><![CDATA[Douglas]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Carmo da Silva]]></surname>
<given-names><![CDATA[Beatriz]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Carvalho de Benedicto]]></surname>
<given-names><![CDATA[Gideon]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Faculdade Presbiteriana Gammon  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brasil</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Faculdade Presbiteriana Gammon  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brasil</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidade Federal de Lavras  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brasil</country>
</aff>
<aff id="Af4">
<institution><![CDATA[,Universidade Federal de Lavras  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Brasil</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2017</year>
</pub-date>
<volume>18</volume>
<numero>46</numero>
<fpage>83</fpage>
<lpage>103</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0123-14722017000200083&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0123-14722017000200083&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0123-14722017000200083&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo  A Kroton Educacional é uma empresa brasileira que se destaca como a líder mundial no mercado de serviços educacionais. Este artigo tem por objetivo efetuar uma análise do desempenho econômico da Kroton Educacional no período de 2011 a 2016, tendo por base as informações por segmentos operacionais referentes a essa empresa. A coleta de dados foi efetuada a partir das demonstrações contábeis da companhia e identificaram-se as informações por segmentos divulgadas conforme o pronunciamento CPC 22: Informações por Segmento. A partir do cálculo dos indicadores de lucratividade e de rentabilidade, observa-se que o segmento de ensino superior à distância (EAD) foi o que mais contribuiu para a lucratividade da empresa. Já o segmento de ensino superior presencial, embora tenha sido responsável pela maior parte das receitas, não se destacou em termos de lucratividade ou de rentabilidade. Nota-se que o segmento de educação básica foi o que teve maior rentabilidade para a empresa. A companhia tem investido em estratégias de expansão e diversificação, incrementando sua lucratividade e rentabilidade. A análise efetuada auxilia para que o desempenho econômico da empresa seja compreendido com maior nível de detalhamento. Assim, destaca-se a contribuição do artigo ao propor análises econômicas baseadas nos indicadores por segmentos operacionais das empresas. Códigos JEL: M21, M41]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Kroton Educacional is a Brazilian company that stands out as a worldwide leader in the educational service market. This study aims to conduct an analysis to Kroton Educacional&#8217;s financial performance during the term 2011-2016. The study draws on the company information reported per each operative segment. The data collection was carried out based on the financial statements of the company. In addition, the information was identified per segment, as disclosed following the Statement CPC 22: Informações por Segmento [Information per Segment]. The calculation of profitability indicators shows that the Distance Higher Education (DHE) was the one providing the highest profit margin to the company. Even though the In-Person Higher Education segment accounted for most of the income, the profit margin or profitability in this segment were not notable. Likewise, it was observed that the Basic Education was the most profitable segment for the company. In the same vein, the company has made some investments in expansion and diversification strategies, which has enhance the company profitability. Consequently, the analysis carried out is supported by a detail understanding of the company&#8217;s financial performance. This way, the contribution by this article is significant as it proposes financial analyses of the company based on the indicators per operative segment.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen  Kroton Educacional es una empresa brasileña que se destaca como la líder mundial en el mercado de servicios educativos. Este artículo tiene como objetivo efectuar un análisis del desempeño económico de Kroton Educacional durante el período de 2011 a 2016; un estudio que tiene como base la información por segmentos operacionales referentes a esa empresa. La recolección de datos fue efectuada de acuerdo con los estados financieros de la compañía; además, se identificó información por segmentos divulgados conforme con el pronunciamiento CPC 22: Informações por Segmento. Mediante el cálculo de los indicadores de rentabilidad, se observa que el segmento de enseñanza superior a distancia (EAD) fue el que más contribuyó al margen de lucro de la empresa. Aunque el segmento de enseñanza superior presencial fue responsable de la mayor parte de los ingresos, no se destacó en términos del margen de lucro o de rentabilidad. Se observa asimismo que el segmento de educación básica fue el de mayor rentabilidad para la empresa. De igual modo, la compañía ha invertido en estrategias de expansión y diversificación, con lo que ha incrementado su rentabilidad. En consonancia, el análisis efectuado se apoya en la comprensión detallada del desempeño económico de la empresa. De tal modo, la contribución de este artículo importante, pues propone análisis económicos basados en los indicadores por segmentos operativos de las empresas.]]></p></abstract>
<kwd-group>
<kwd lng="pt"><![CDATA[Desempenho econômico]]></kwd>
<kwd lng="pt"><![CDATA[segmentos operacionais]]></kwd>
<kwd lng="pt"><![CDATA[serviços educacionais]]></kwd>
<kwd lng="pt"><![CDATA[Kroton Educacional]]></kwd>
<kwd lng="en"><![CDATA[financial performance]]></kwd>
<kwd lng="en"><![CDATA[operative segments]]></kwd>
<kwd lng="en"><![CDATA[educational services]]></kwd>
<kwd lng="en"><![CDATA[Kroton Educational]]></kwd>
<kwd lng="es"><![CDATA[desempeño económico]]></kwd>
<kwd lng="es"><![CDATA[segmentos operativos]]></kwd>
<kwd lng="es"><![CDATA[servicios educativos]]></kwd>
<kwd lng="es"><![CDATA[Kroton Educacional]]></kwd>
</kwd-group>
</article-meta>
</front><back>
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