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Akuntansi Internasional

PRELIMINARY

  1. Internal accounting differences with another accounting

Along with business and financial markets that have a lot to internationalization, as well as differences in international accounting is becoming more important from the standpoint of financial statement analysis internsaional. The key questions include the direction of international accounting differences that affect the assessment of income and cash flow in the future and of the risks and uncertainties allies.
Appraisal / valuation is important for portfolio investors. It is important uga to the attention of enterprises with foreign direct investment (FDI) / Foreign direct investment, which involves an assessment of potential acquisition and joint venture participation or increase of capital of companies listed on foreign stock markets. Growing number of companies listed in international stock markets, with London Stock Exchange that have been taken over by the New York stock exchanges as the most popular stock exchanges, and more stock market continues to grow. In addition there was an emergence of a dramatic increase of the stock market and the competition for international investment.
International accounting differences bring a number of problems from the standpoint of financial analysis. First, in an effort to assess foreign companies, there is a tendency to look at revenues and other financial data from the standpoint of their home country, and because of the danger of ignoring the effects of accounting differences. Unless significant difference was taken into account, possibly with some involvement of a restatement, it may have very serious consequences. Secondly, awareness of international differences suggest the need to become familiar with generally accepted accounting principles as a destination for foreign countries to know better income data in the context of measurement. Third, the issue of properties that can be compared and harmonized akuntasni is reviewed in the context of alternative investment opportunities. In this case, Choi and Levich (1991) provides a useful framework for analyzing the impact and relevance of the differences in similarity and no resemblance to the economic environment. In an environment or a situation similar to the accounting, the accounting differences is un logisan and clues to the results that can not be compared. Logical practices suggest that the accounting treatment of similar / same. When the economic environment is not the same, but, as in the case of international investment, accounting differences can be justified, particularly where lies the lack of similarity exists in company laws, tax laws, finance, business customs, culture, accounting and so on. On the other hand, a similar accounting treatment may be justified when several factors have some significant similarities. Understanding the importance of environmental factors and cultural / cultural are all concerned.
In a survey to examine how capital market participants respond to differences in accounting, Choi and Levich cited the opinion of institutional investors, multinational companies that issued securities, the bank under the international securities, and regulatory agencies. Only 48% of all respondents interviewed were influenced by differences in international accounting, but it seems 52% of respondents who claimed not affected by differences in accounting facts “coping” a variety of factors, including (1) repeat their own accounts with GAAP, (2) the development of capabilities foreign GAAP, (3) using other information sources, and (4) using a different approach investasu, for example, macro-economic approach “top-down” or from the top down to the state paired with a diversified selection of stocks in the country. A similar approach, used by the respondents which investment decisions likely influenced by differences in accounting. The results of this study suggest that the problems and costs arising from differences in international accounting is very real and needs to be investigated further to be investigated and resolved. In the end, there is a clear need to see the differences and their impact on the measurement of income and corporate performance.

2. Explain and understand how international accounting is divided into three broad cultural

There are three main forces that drive the international dimension into the accounting field that continues to grow. Force strength is
(1) ENVIRONMENTAL FACTORS,
(2) INTERNATIONALIZATION AND ACCOUNTING DISCIPLINES, AND
(3) THE INTERNATIONALIZATION OF THE ACCOUNTING PROFESSION.

ENVIRONMENTAL FACTORS
Either developed countries or developing countries large and small in one hemisphere or the other, all having a closer international relations and a high economic dependence. There are 15 environmental factors that impact on accounting. The selection list is subjective and may change with time.

INTERNATIONALIZATION OF ACCOUNTING DISCIPLINE
Three key factors have played a decisive role in internationalism (field or discipline) of accounting:
A. Specialization
As with any medicine, at present specialization in accounting is a fact for example in the USA and Jerman.akuntansi internasionak is one area of expertise is recognized in the accounting field, together with governmental accounting, tax accounting, auditing, management accounting, accounting and system behavior of information.
2. International nature of a number of technical problems
International trade, business operations multinasinal, foreign investment and market transactions are unique problems in accounting internationalism
3. Historical reasons
International accounting history is history. Double entry bookkeeping which is regarded as the origin of the existing accounting who migrated to several countries including Indonesia. Wansan accounting as such, is international.


Development Of International Accounting

According to Choi et.al (1998: 38) reveals that the structural development of international accounting happens now includes serving as follows:
A. Pattern of Comparative Development
The approach developed by Mueller differently to the development of accounting can be observed in western countries that have market-oriented economic system, including; makorekonomis pattern, the pattern mikroekonomis, disciplined approach to independent, and uniform accounting approach.
-The pattern of macroeconomic
Business enterprise goal of course is narrower than the national economic policy. The Company has certain goals to be achieved, often operate in a dimension of time and space is limited, and accountable to the groups a clear ownership. Consequently, normally follows the company’s goal of national policy. This is not an absolute condition, because the company is part of the business that affects public kepntingan and directing national policies, so there is a causal relationship of reciprocity.

3. Knowing the history of international accounting and international financial sector policy trend

International accounting is accounting for international transactions, the comparison between countries of different accounting principles and harmonization of accounting standards in the field of tax authorities, auditing and other accounting areas. Accounting must evolve in order to provide the information required in decision-making in the company in any business environment changes.
Here are the characteristics of the era of global economy:
A. International business
2. Loss of boundaries between States era of global economy is often difficult to identify the country of origin of a product or company, this is the case in multinational companies
3. Dependence on international trade
There are 8 (eight) factors that influence the development of international accounting:
B. Sources of funding
In countries with strong equity markets, accounting has focused on how well management runs the company (profitability), and is designed to help investors analyze the future cash flows and related risks. Instead, the credit-based system in which the bank is the main source of funding, accounting has focused on the protection of creditors through conservative accounting measurements.
2. Legal System
The western world has two basic orientations: the legal code (civil) and common law (case). In code law countries, law is a complete group that includes the provision of accounting rules and procedures that are incorporated in national law and tend to be very complete. In contrast, common law developed on a case by case basis without any attempt to cover all cases in which a complete code.
3. Taxation
In most countries, tax rules effectively set the standard because the company should record revenue and expenses in their accounts to claim it for tax purposes. While a separate tax and financial accounting, tax rules sometimes require the application of certain accounting principles.
4. Politics and Economics Association
5. Inflation
Inflation causes the distortion of historical cost accounting and affect the propensity (tendency) of a State to apply the changes to the accounts of the company.
6. Levels of Economic Development
These factors influence the types of business transactions are conducted in an economy and determine what is most important.
7. Level of Education
Standard accounting practices are highly complex would be useless if misunderstood and misused. Disclosures about the risks of derivative securities will not be informative unless it is read by the competent authorities.
8. Culture
Four dimensions of national culture, according to Hofstede: individualism, power distance, uncertainty avoidance, masculinity.

4. Understanding the role of accounting in the areas of business and global capital markets

We often hear how the company has a good organizational system to support the vision, mission and action plan for a planned business plan does not guarantee success in achieving profits. In fact, many companies are experiencing a decline in business performance simply because of errors in interpreting the scenarios and assumptions influence the external environment. Entering the era of liberalization and globalization in the 21st century, the company’s leaders can not simply ignore the changes happening around them, especially if they want to win.
Increasing globalization of world markets kukuhnya symptoms are influenced directly by the various trade and investment liberalization policies in the Asia Pacific region, many open up business opportunities for domestic producers and foreign investors. Widespread network of organizations and global corporate communications a few years before the global economic crisis, has proven to provide various opportunities for domestic private firms in Indonesia in the form of joint venture (joint ventures) and franchises (franchising). But instead we see how the changes external environment that runs very quickly, as the incidence of attack the World Trade Center and the U.S. military incursion into Iraq, then in an instant competitive advantage ravaged the country in the pattern of trade between nations in the world. Bad influence of external environmental impacts are sometimes veiled, and the cruel position of competitive advantage claimed some domestic companies are small and medium enterprises.

We see how the national economic crisis followed by the various political and social crisis since 1998 in fact has changed the entire structure (paradigm) conduct of business activities of private companies nationwide in our country. Without being aware of various changes in non-economic issues, such as the Bali bombings, ethnic strife in the Maluku and West Kalimantan, Aceh conflict and the demands of the Free Aceh Movement, riots of May, it has disrupted the performance of this in Indonesia in the short term. The last time we see how the arrival of tsunami waves have damaged the economy in the joints of different localities in the region of Aceh and North Sumatra.

This sequence of events resulting in the slow national economic recovery program. Climate of certainty and erosion, and the country risk and the risk of trying to become higher. Finally, in recent years an increase in cases of closure and bankruptcy of enterprises.

With this background we will think how the activities of small and medium businesses face these conditions. With characteristics that have limited capital, small business capacity, and with a simple pengadmistrasian. How accounting profession could help counter the influence of the business environment for small to medium sized businesses can compete in global markets.

Accountant’s Role In Helping Small and Menengah.Dengan bsnis environmental influences are so powerful, SMEs who want to progress began to stretch to improve its ability to clean themselves in the competition. Competition is not only local competition but have started with the global competition. To do this all would have done a few things are quite strategic by SMEs. Here, the role of management accountants who can help provide information for decision-making tepat.Dalam global competition, information is an important factor yag will be able to help win the competition. Do not lose dallam ukm management information and generate information. Accountants beperan how to create relevant information for all stakehloder SMEs, both financial and non financial information. The resulting information to stakeholders can bring good results from many investors and many buyers are able to access deal.Untuk in global markets, SMEs should improve product quality and quality management. Example in Tasikmalaya city’s famous crafts. SMEs from access to global markets, whether European, American, African, etc.. They no longer focus bersainga with local ukm but focus on entrepreneurs from China, Vietnam and the Philippines. SMEs in particular Tasikmalaya memeulai handycraft for access to global markets certainly can not be directly just like the back your hand. They mengikuiti international exhibitions, product quality certification and management. To obtain such certification are many conditions that must be prepared. Here, many engage accountants to help SMEs improve management quality management. With international certification such prospective buyer will usually be affected untu buy the products of SMEs. Starting from where SMEs will enter the global market. Market Globalization Globalization is a phenomenon of the world market to follow. For example, the unification of European Economic Community (European Economic Community) in 2000, proved to have affected the negotiating power of trade and investment issues of the EEC member states with Developing Countries. In many cases the results are likely to harm in the latter. Other forms of economic cooperation, among others, the Association of Petroleum Producers Group (OPEC), Economic cooperation of Southeast Asian Nations (ASEAN) and Economic cooperation of States Asia Pacific (APEC). Clusters have been encouraging their cooperation and make the market for goods, services, and the broader financial (globalise) with a reduction of barriers (borderless) in the bureaucracy of licensing, and traffic of capital, labor and technology transfer. The globalization of international markets now tend to expand, it becomes complicated and difficult to trace. This process happens so fast with the action tendency of giant multinational corporations (MNCs) and world (global firms) held a business strategy through the integration, merger or joint venture activities with cross territorial boundaries between countries. Their overall business interests often trump any of the companies they own branches as well as the interests of trading partners in developing countries. The globalization of markets in addition to providing a positive impact, not infrequently result in negative effects for Indonesia’s economy, small and medium enterprise development and competitive advantage in the economic sector or industry tertentu.Menyikapi this accountant must also meningkatkankemampuannya to help SMEs enter the global market. SMEs are not only trained accountants prepare financial statements, but provide what it needs to enter the strategy taken in memenangkna competition by creating a non-financial information such as business process intenal, learning growth and customer satisfaction. The competitiveness of some aspects of technology entrepreneurs merchandise exporter Indonesia began to lose its competitiveness in international markets since the incident a few years the economic crisis in Indonesia. Indonesia products are oriented so that lpangan mnyerap work can still be competitive in international markets, technological aspects have come to be seen and considered as a solution to improve the quality of the company’s business processes and ultimately to win the competition. In this regard technological factors that have studied the impact and influence include the following: (1) Genesis discovery (Innovations) the scientific
(2) Adaptation of the technology ready to use
(3) new products hit the market by competitors
(4) The development of technological substitutes
(5) development of national technology strategy
(6) Expenditure on research and development (R & D) by competitors or companies in the industry
(7) The life cycle of a product (product life cycle)
(8) The development of computer technology and information
(9) breakthroughs that can increase productivity in both the input, processing and marketing
(10) A variety of technologies in the development forecasting depanBegitu ukm also handicraft in Tasikmalaya, they perform the steps as above. All ukm who have been using the technology the export of certain information, ranging from pengadiministrasiannya, to marketing, they even have their own website that is http://www.tasiktrade.or.id. Or is there a company and product profile include the national website is http://www.indonesiadesain.com. For their international deals with some international organizations, such as the European Commission, INA, etc.. SimpulanSemua businesses will be affected by the business environment. Business environment must be able to affect the increased competitiveness of the business world. Similarly, SMEs must be able to make the business environment in something that spurs the motivation to improve competitiveness and international.Akuntan bailokal can serve the business community to face the stone business environment in order to improve its competitiveness by creating financial and non financial information. Accountants can also play a role in the development of information technology will inevitably have to develop SMEs to compete. Materials BacaanTasikmalaya Trade And Industry Guide, 2005: SME Export Ready Tasikmalaya. Workshop on Unsil Tasikmalaya.

Along with business and financial markets that have a lot to internationalization, as well as differences in international accounting is becoming more important from the standpoint of financial statement analysis internsaional. The key questions include the direction of international accounting differences that affect the assessment of income and cash flow in the future and of the risks and uncertainties allies.

There are three main forces that drive the international dimension into the accounting field that continues to grow. Force strength is
(1) ENVIRONMENTAL FACTORS,
(2) INTERNATIONALIZATION AND ACCOUNTING DISCIPLINES, AND
(3) THE INTERNATIONALIZATION OF THE ACCOUNTING PROFESSION.

International accounting is accounting for international transactions, the comparison between countries of different accounting principles and harmonization of accounting standards in the field of tax authorities, auditing and other accounting areas. Accounting must evolve in order to provide the information required in decision-making in the company in any business environment changes.

We often hear how the company has a good organizational system to support the vision, mission and action plan for a planned business plan does not guarantee success in achieving profits. In fact, many companies are experiencing a decline in business performance simply because of errors in interpreting the scenarios and assumptions influence the external environment. Entering the era of liberalization and globalization in the 21st century, the company’s leaders can not simply ignore the changes happening around them, especially if they want to win.
Increasing globalization of world markets kukuhnya symptoms are influenced directly by the various trade and investment liberalization policies in the Asia Pacific region, many open up business opportunities for domestic producers and foreign investors. Widespread network of organizations and global corporate communications a few years before the global economic crisis, has proven to provide various opportunities for domestic private firms in Indonesia in the form of joint venture (joint ventures) and franchises (franchising). But instead we see how the changes external environment that runs very quickly, as the incidence of attack the World Trade Center and the U.S. military incursion into Iraq, then in an instant competitive advantage ravaged the country in the pattern of trade between nations in the world. Bad influence of external environmental impacts are sometimes veiled, and the cruel position of competitive advantage claimed some domestic companies are small and medium enterprises.

 

 

DEVELOPMENT AND INTERNATIONAL ACCOUNTING CLASSIFICATION

  1. Identify and explain the factors that influence the development of the accounting world

Culture and historical roots of a country is the first step to identify the factors that affect the accounting. Culture is an important element that should be considered to find out how a social system that is changing due to the influence of cultural norms and values of a system and group behavior in their interactions within and outside the system.
A. Structural elements that affect the business and cultural
a. Individualism vs. collectivism
Individualism is a trend that is relatively free of social function and individual mean just take care of themselves and their families. In contrast, collectivism is the tendency of the social functions of a relatively tight masing0masing where individuals identify themselves as a group with unquestionable loyalty. The main problem of this dimension is the level of the individual in a society interedensi.

b. Large vs. small power distance
Power distance is the extent to which members of the public to receive power in institutions and organizations is distributed unequally. In small power distance society requires equality of power and the justification for the inequality of power. In large power distance societies accept a hierarchical order where each one has its place again without justification. The main problem of this dimension is how a society handles inequalities among people when it happens.
c. Strong vs. weak uncertainty avoidance
Is the degree to which community members are not comfortable uncertainties premises. Strong uncertainty avoidance try to maintain a form of society is so great faith, and less tolerant of people or alternative ideas. Opposite to weak uncertainty avoidance. The main theme of this dimension is how a public reaction against the fact that time only goes in one direction and the future is unknown, and whether to try to control the future or let it go.
d. Masculine versus feminine
Masculine in a society that tends to give parameters to the family, heroism, and material successes. Instead of feminism tend to personal relationships, intolerant of weakness and quality of life. The main theme in this dimension is to how the society providing social roles related to gender issues.

Value Accounting
A. Professionalism versus statutory control
The ability to make professional judgments as individuals and strive to maintain an independent professional regulatory opposed to compliance with legal requirements and statutory control.

2. Uniformity versus flexibility
The tendency for a uniform accounting practices between firms and is consistent with the current level of flexibility to implement the practices adapted to the conditions of a company.

3. Conservatisme vs. optimism
The tendency of people to be careful of the current level of risk and uncertainty in the future compared with the more optimistic behavior and the courage to take risks.

4. Secrecy vs. Transparency
The tendency to place restrictions on the disclosure of business only to the parties involved with the management and financial intense compared with a more transparent and open.

2. Knowing the developmental approach to accounting in a market-oriented economy

Four approaches to the development of accounting
Initial classification was proposed by Mueller mid-1960s. He identified four approaches to the development of accounting in Western countries with market-oriented economic system.
(1) Based on the macroeconomic approach, obtained from the accounting practices and are designed to improve the national macroeconomic objectives. General corporate purposes and not to follow the lead of national policy, because the business enterprise mengordinasikan their activities with national policy. Therefore, for example, a national policy of stable employment to avoid major changes in the business cycle will result in a leveling of income accounting practices. Or, to encourage the development of a particular industry, a State can permit rapid removal of capital expenditure on some of the industry. Accounting in Sweden evolved from macroeconomic approach. (2) based on the microeconomic approach, developed from the accounting principles of microeconomics. The focus is on individual companies that have the purpose to survive. To achieve this goal, the company must maintain physical capital owned. It is equally important that the company is clearly separate capital from profits to evaluate and control the business activity. Accounting measurements are based on replacement cost is supported as best suited to this approach. Accounting in the Netherlands grew from microeconomics. (3) by an independent disciplinary approach, derived from accounting and business practices developed on an ad hoc, with the base slowly from consideration, trial and error. Accounting services is considered as a function of the concepts and principles taken from the business process being run, and not from the branches of science such as economics. Businesses face the real world complexity and uncertainty that always happens through experience, practice, and intuition. Accounting develops the same way. For example, profit is simply the most useful thing in a pragmatic and disclosure practices in responding to the needs of its users. Independently developed accounting in Britain and the United States. (4) based on a uniform approach, standardized accounting and is used as a tool for administrative control by the central government. Uniformity in the measurement, disclosure and presentation of accounting information makes it easier to control all types of businesses. In general, uniform approach is used in countries with large government ketelibatan in perncanaan economy in which the accounting is used among others for measuring performance, allocating resources, collect taxes and control prices. France, with a uniform chart of national accounting is a major supporter of the uniform accounting approach.

3. Identifying the dominant state in the development of accounting practice

Classification is done G. G. Mueller, published in The International Journal of Accounting (Spring 1968) which uses assessments of economic development, the complexity of the business, political and social situation of the legal system, dividing the countries into 10 groups based on the accounting system are:
A. United States / Canada / Netherlands
2. British Commonwealth countries
3. Germany / Japan
4. Mainland Europe (not including West Germany, the Netherlands and Scandinavia)
5. Scandinavia
6. Israel / Mexico
7. South America
8. Developing Countries
9. Africa (excluding South Africa)
10. Communist countries

4. Have basic knowledge of accounting and be able to compare classification (international accounting with local)

International accounting classification can be done in two ways: By considerations and empirically. Classification with consideration depends on the knowledge, intuition and experience. Classification empirically using statistical methods to collect data
accounting principles and practices worldwide.
There are 4 (four) approach to the development of accounting:
A. Based on the macroeconomic approach, obtained from the accounting practices and are designed to improve the national macroeconomic objectives.
2. Based on microeconomic approach, accounting bekembang of microeconomic principles. The goal lies in the individual companies that have the purpose to survive.
3. Based on an independent approach, derived from accounting and business practices developed on an ad hoc, with the base slowly and consideration, trial and error, and errors. Accounting services is seen as a function of the concepts and principles taken from the business process being run, and not from the branches of science such as economics.
4. Based on a uniform approach, accounting distandariasi and used as a tool for administrative control by the central government. Uniformity in the measurement, disclosure, and will facilitate the presentation of the designer of government, tax authorities, and even managers to use accounting information in controlling all types of businesses.
Accounting system can also be classified by the laws of a State. (1) Accounting in common law countries have a fair presentation of the character-oriented, transparency and full disclosure and the separation between financial and tax accounting. Dominate the stock market financial resources and financial reporting needs infrmasi shown to outside investors. Accounting law commonly referred to as the Anglo Saxon. (2) accounting in code law countries have a legalistic-oriented characteristics, does not allow disclosure of the amount is less, and conformity between financial and tax ankuntansi. Bank or financial ksumber dominate the government and financial reporting and financial reporting is intended to protect creditors. Accounting is also called continental. Provision of accounting parallels the character referred to as a model of shareholders and other interested parties kelila corporate governance role in common law countries and the legal code.
Many differences in national accounting is becoming increasingly lost. There are several reasons for this are (1) Hundreds of companies today noted its shares on stock exchanges outside their home country, (2) Some of the code law countries, particularly Germany and Japan to shift responsibility from the government’s establishment of accounting standards to the private sector professional and independent, (3) The importance of the stock market as a source of funding is growing worldwide.

5. Explain the difference fair presentation and compliance with State law and the stage where the dominant application

Classification based Padada fair presentation versus legal compliance pose a major influence on many accounting issues, such as (1) depreciation, where the load is determined based on the reduction in the usefulness of an asset over the useful economic (fair presentation) or the amount allowed for tax purposes (compliance law), (2) lease with purchase of fixed assets of the substance to be treated like that (fair presentation) or treated as operating leases are common (legal compliance), (3) pension costs accrued at the time generated by the employee (fair presentation) or charged on the basis paid at the time to stop working (legal compliance).
Another problem is the use of reserves to smooth earnings discrete from one period to another.

6. Knowing the important issue of fair presentation stage of legal compliance

And fair presentation of substance over form (substance over form) is the main characteristic of the general accounting laws. Accounting drancang legal compliance to meet government regulations such as dikenankan calculation of taxable income or meet the national government’s macroeconomic plans. Mamastikan conservative measurement that the number of shared care. Accounting for legal compliance will continue to be used in the financial statements of individual firms in code law countries where consolidated statements apply to the presentation of fair reporting. In this way, consolidated statements may provide information to investors, while individual company reports to comply with the law.

COMPARATIVE ACCOUNTING

  1. Identifying terms of accounting standards and standard setting

The Financial Accounting Standards Board (FASB) is a private, not-for profit organization whose sole purpose is to develop generally accepted accounting principles (GAAP) in the United States in the public interest. The Securities and Exchange Commission (SEC) designated the FASB as the organization responsible for setting accounting standards for public companies in the United States was created in 1973, replacing the Committee on Accounting Procedure (CAP) and Accounting Principles Board (APB) of the American Institute of Accountants Certified Public (AICPA). FASB’s mission is “to establish and improve standards of accounting and financial reporting guidance and education to the public, including issuers, auditors, and users of financial information.” [1] To achieve this, the FASB has five goals [1]:
• Increase the benefits of financial reporting by focusing on the main characteristics of relevance and reliability, and on the comparative quality and consistency.
• Keep standards current to reflect changes in methods of doing business and the economy.
• Consider promptly any significant areas of deficiency in financial reporting that might be enhanced through the establishment of standards.
• Promote the international convergence of accounting standards concurrent with improving the quality of financial reporting.
• Improve public understanding of the nature and purpose of the information in the financial statements.
Description
FASB is not a government agency. . The SEC has the legal authority to establish financial accounting and reporting standards for publicly held companies under the Securities Exchange Act of 1934. Throughout its history, however, the policy of the Commission has relied on the private sector for this function if the private sector demonstrates the ability to fulfill responsibilities in the public interest.
FASB is an independent part of the structure of all businesses and professional organizations. Before the present structure was created, financial accounting and reporting standards was first established by the Committee on Accounting Procedure of the American Institute of Certified Public Accountants (1936-1959) and then by the Accounting Principles Board, also part of the AICPA (1959 -73). Statement of its predecessor bodies remain in effect unless amended or superseded by the FASB.
FASB subject to supervision by the Financial Accounting Foundation (FAF), FASB members who voted and the Governmental Accounting Standards Board and funds both organizations. FAF Board of Trustees, in turn, partly elected by a group of organizations including:
• American Institute of Accountants
• American Institute of Certified Public Accountants
• CFA Institute
• Financial Executives International
• The Government Finance Officers Association
• Institute of Management Accountants
• National Association of State Auditors, Comptrollers and Treasurers
• Securities Industry Association
FASB structure is very different from its predecessor in many ways. Council consists of seven full members. The members are required to sever all ties with companies and institutions that previously they may have served prior to joining the FASB .. This is to ensure the impartiality and independence of the FASB. They are appointed for a term of five years and is eligible for one additional term of five years. The current members (with the end of this time period stated date):
• Robert H. Herz, Chairman (2012)
• Thomas J. Linsmeier (2011)
• Leslie F. Seidman (2011)
• Marc A. Siegel (2013)
• Lawrence W. Smith (2012)
In addition to full-time members, there are about 68 members of staff. This staff is, “professionals drawn from public accounting, industry, academia, and government, plus support personnel.”
This group was formed in order to provide quick response to their financial problems arise. This group includes 15 people from both public and private sectors coupled with the representatives of the FASB and the SEC observer. As problems arise, the task force consider them and try to reach consensus on what action to take. If a consensus can be achieved, they EITF issues and FASB are not involved. EITF considered as a legitimate issue as FASB statements and are included in GAAP.
Creation of Codification
On July 1, 2009, FASB announced the launch of the Accounting Standards Codification, stating that a “single source of authoritative nongovernmental U.S. generally accepted accounting principles.” The codification of many of the statements set of U.S. GAAP to be sought, consistent format. [3] Codification is not to be confused with the FASB Conceptual Framework, a project initiated in 1973 to develop a sound theoretical basis for the development of accounting standards in the United States.
Norwalk Agreement
FASB is pursuing convergence project with the International Accounting Standards Board (IASB) and International Financial Reporting Standards (IFRS). On 18 September 2002, in Norwalk, Connecticut, FASB and IASB met and issued a Memorandum of Understanding. [4] This document describes a plan to converge IFRS and U.S. GAAP into a single set of high quality and compatible standards. As part of the project, the FASB has begun to move from the principle of historical cost to fair value.
The independence
In June 2009, the FASB has been criticized by investor advisory panel after making the change-to-market accounting as a sign of a response to political pressure. Lobbyists have obtained permission for banks to apply a special accounting treatment for toxic assets. [5]
FASB statement
In order to establish accounting principles, FASB issue public statements, each of which address problems or special general accounting. This statement is:
• Statement of Financial Accounting Standards
• Statement of Financial Accounting Concepts
• FASB Interpretation
• FASB Technical Bulletins
• EITF Abstracts

2. Understanding why different from standard accounting practices prescribed

Four (4) The reason why the practice is not in accordance with the standards, namely:
a. In most countries the penalty for noncompliance with the official accounting tend to be weak and ineffective
b. The company may voluntarily report more information than the diharuska
c. Some states allow companies to ignore the accounting standards if by doing operations and financial position will be better tersajikan
d. In some countries accounting standards only apply to the separate financial statements and not to the consolidated report.

3. Knowing the accounting system in developed countries! example?

Netherlands

Accounting in the Netherlands has some interesting paradox. The Netherlands has the provision of accounting and financial reporting are relatively permissive, but the standards for professionalism is very high. The Netherlands is the country code of law, but accounting-oriented fair presentation. Financial reporting and tax accounting are two separate activities.
Dutch accounting is willing to consider ideas from outside. The Netherlands is one of the first supporters of the international standards for accounting and financial reporting, and the IASB statement received great attention in determining acceptable practice.
Accounting Regulations and Enforcement Rules

Regulation in the Netherlands remained so in 1970 when liberal laws enacted Annual Financial Report, the 1970 Act introduced a mandatory audit. The law also encourages the formation of Accounting Studies Three Parties (Tripaartif) (which was replaced by the Council’s Annual Report on the Year 1981)

Annual reporting of the Council issued guidance on acceptable accounting principles (not accepted) in general, the Council has members from three different groups:
A. The preparation of financial statements (the company)
2. Users of financial statements (union representatives and financial analysts)
3. Auditors of financial statements (the Dutch institute or NivRA Registered Accounting)

Financial Reporting

Quality of the Netherlands is very uniform financial reporting, financial statements shall be drawn up in Dutch, but in English, French, and German can be accepted. Financial reports should contain the following:

  1.  Balance
  2. Statements of Income
  3.  Records
  4.  Report of the Board of Directors
  5. Other information recommended

Accounting Measurement

The method used is the purchase method, goodwill is the difference between acquisition cost and fair value of purchased assets and liabilities. Dutch flexibility in accounting measurements can be seen with the permissibility of the use of nilaii now for tangible assets such as inventory and assets are depreciated. Because the company – a Dutch company has flexibility in applying the rules of measurement, can be presumed that there is a chance to perform smoothing earnings. Certain items can ignore the statements of income and adjusted directly against reserves in shareholders’ equity. It includes:
• Catastrophic losses that are not possible or is not common for the uninsured
• Losses due to nationalization or confiscation of other similar
• Onsekuensi due to financial restructuring

German

In the early 1970s, the European Union (EU) began to issue a harmonization directive, which must be adopted by member states into national law. EU directive fourth, seventh, eighth entirely into German law through the Comprehensive Accounting Act which came into force on December 19, 1985

The third fundamental characteristic of Accountancy in Germany is its dependence on the statutes and court decisions. Besides those two things that have no binding status or authority. To understand accounting in Germany, one must mmerhatikan HGB and legal frameworks related cases.

Accounting Regulations and Enforcement Rules

Prior to 1998, the Germans did not have the financial accounting standard-setting functions as understood in English-speaking countries. Law on control and transparency in 1998 introduced the requirement to recognize a private entity that sets national standards to meet the following objectives:
• Develop recommendations on the application of accounting standards in the consolidated financial statements
• Provide advice to the Ministry of Justice for a new accounting legislation
• Representing Germany in an international accounting organization, as the IASB
System implementation of new accounting standards in Germany largely similar to existing systems in the United Kingdom and the United States. But to note that the standard of GaSb is a mandatory recommendation applies only u / lapoaran financial statements.

Financial Reporting
Law – Accounting Act in 1985 specifically determine the content and form of financial statements that include:
A. Balance
2. The income statement
3. . Notes to the financial statements
4. Management reports
5. Auditor’s report
The main feature of the financial reporting system in Germany is a personal statement by the auditor to the company’s management board and supervisory board of the company, for the purpose of consolidation, all firms in the group must use the accounting and valuation principles are the same.

Accounting Measurement
GAS is more stringent when compared to HGB in the consolidated financial statements, Menurt GAS 4, revaluation methods should be used, while the assets and liabilities acquired in business combination must be revalued to fair value and the remaining excess was allocated to goodwill. Goodwill is amortized over a period no more than 20 years and tested for impairment annually.

As mentioned earlier, the company – the German company can now choose to prepare consolidated financial statements in accordance with the rules of German, as described above, the international accounting standards or U.S. GAAP. The third option can be found in practice and the readers of German financial statements must be careful to find out which accounting standards are used.
English

British heritage is very important for the world. Britain was the first country in the world to develop the accounting profession as we know it. The concept of presenting the results and financial position of the natural (true and fair view) is also from England.

Accounting Regulations and Enforcement Rules
The two main sources of financial accounting standards in the UK is the company’s legal and accounting professions. Act of 1981 set out five basic principles of accounting:
A. Revenues and expenses should be matched according to the accrual basis
2. Postal assets and liabilities separately in each category of assets, and liabilities are assessed separately
3. The principle of conservatism
4. Application of accounting policies that are consistent from year to year are required
5. Business continuity principle is applied to companies that use accounting
The Act contains a broad assessment of rules in which the accounts can be determined based on historical cost or current cost.

Financial Reporting
UK financial reporting, including the most comprehensive in the world. The financial statements generally include:
A. Report of the Board of Directors
2. Profit and Loss and Balance Sheet
3. Statement of Cash Flows
4. Report of Total recognized Gains and Losses
5. Accounting policy statements
6. References in the notes to the Financial Statements
7. . Auditor’s Report
Accounting Measurement

Britain to allow both methods of acquisition and mergers in the accounting records for the merger. However, the conditions of the merger method of use is so tight that it almost never used.

In 2003, the Department of trade and Industry announced that starting in January 2005, All UK companies are allowed to use IFRS, in addition to GAAP

Japan

Accounting and Financial Reporting in Japan reflects the combined influence of various domestic and international, to understand Japanese accounting, one must understand the culture, business practices and history of Japan. Firms – Japanese firms belonging akuitas share with each other, and often jointly own other companies. These investments are interlocked industrial conglomerate that produces meraksasa – known as keiretsu
Keiretsu venture capital, is in line with changes in the Japanese structural reforms to overcome economic stagnation that began in the 1990s. The financial crisis that followed the breakup of the Japanese bubble economy is also pushing for a thorough evaluation of the Japanese financial reporting standards.

Accounting Regulations and Enforcement Rules
The national government still has the most significant influence on accounting in Japan. Accounting regulation is based on three laws – Law: Commercial Law, Capital Market Law and the income tax law firm. Commercial law is governed by the Ministry of Justice (MOJ), the law is at the core of accounting regulation in Japan and most have a major influence.
Publicly owned companies must meet further in the capital market laws administered by the finance ministry made under the laws of the U.S. capital markets and imposed on Japan by the United States during the U.S. occupation after World War II, the main purpose of SEL is to provide information in decision decision.

Financial Reporting
Company incorporated under the Commercial Law shall be obliged to prepare a report which must be approved in the annual meeting of shareholders, which contains the following:
A. Balance
2. Profit and loss
3. Business Report
4. Proposal for Determination of Use (appropriation) Retained earnings
5. Supporting Schedule
Companies that list their stocks should also prepare financial statements in accordance with the Law of the capital market in general require the same basic financial statements of the commercial law coupled with the cash flow statement.

Accounting Measurement
Commercial law firm requires large companies to prepare consolidated statements, the company recorded consolidated shares shall prepare reports in accordance with the SEL. Account is a separate company basis for consolidated reporting and general accounting principles as used for both. Consolidated subsidiary if the parent company directly and indirectly control the financial and operational policies.

Although the pooling of interest method is allowed, the purchase method for business combinations commonly used. Goodwill is measured on the basis of the fair value of net assets acquired and is amortized over a maximum of 20 years, the equity method is used to record the joint venture.

4. Identify similarities and differences in accounting systems in developed countries?

Convergence of accounting standards is essentially equating the language of business. Each state has a regulatory agency financial reporting standards. Indonesia Indonesian Institute of Accountants has issued Statement of Financial Accounting Standards as the only standard that is accepted as ‘business language’ companies in Indonesia. United States has a Generally Accepted Accounting Principles (GAAP), which was released by the Financial Accounting Standards Board (FASB). The European Union has the International Accounting Standard (IAS) issued by International Accounting Standard Board (IASB). And so, each country using a standard reporting-reporting standards that are likely to diverge from one another. There is no assurance that the financial statements are presented in different countries can be read with the same language. Difference in the end of this standard will also hamper international business people in business decisions.
By far the leading to the reference standard is the International Financial Reporting Standards (IFRS) issued by International Accounting Standard Board (IASB). IASB standards are the governing body of International Accounting Standards Committee Foundation, an independent international non-profit institutions engaged in financial reporting is based in the UK.
Today, more than 100 countries require or allow the application has IFRS, and is expected to be more and more countries around the world use IFRS. In fact, 10 countries have global capital markets has made convergence to IFRS as Japan, Britain, France, Canada, Germany, Hong Kong, Spain, Switzerland, Australia, including the superpower United States has said it will make the convergence to IFRS. As can be seen on the map, the blue states are the countries that have require or permit the application of IFRS. While the gray are the countries that are in the process of convergence with IFRS.

For Indonesia, as a first step the Financial Accounting Standards Board Indonesia Institute of Accountants (DSAK-IAI) will mengonvergensikan GAAP with IFRS fully through three stages, namely stages of adoption, the final preparation phase and implementation phase. Stages of adoption made in the period 2008-2011 includes activities throughout the IFRS to GAAP adoption, infrastructure preparation, and evaluation of IAS regulations.
Of course not easy to reconcile IAS 62 standard which is owned by owned 37 IFRS standards. There are still considerable gaps between GAAP with IFRS, there are even 20 or 32% IAS standards that can not be compared. When compared with the IFRS, there are still significant differences include financial instruments, investment property, business combination, property, plan and equipment, intangible assets, service concession agreement, the presentation of financial statements, leases, insurance contracts, accounting for banking to be removed , exploration and evaluation of mineral assets, agriculture, and accounting for reporting currencies, and other major differences.
“IFRS convergence targets that have been launched IAI in 2012 is revised IAS that are materially in accordance with IFRS version of January 1, 2009 which became effective in 2011/2012,” said the Chairman of IAI Rosita DSAK Uli Sinaga Public Hearing on the exposure draft of IAS 1 (Revised 2009) of the Financial Statements, in Jakarta last Thursday, August 20, 2009. For the twenty-ninth of Financial Accounting Standards (GAAP) included in the IFRS convergence program launched by IAI DSAK 2009 and 2010. The number of standards to be implemented in the convergence program is a tough challenge for the period 2009-2012 DSAK IAI. If the experience of the implementation of SFAS 50 and 55 concerning financial instruments that have been published in 2008, but it gets the strong pressure of the unpreparedness of the financial industry that have delayed its implementation, then you can imagine how powerful enact dozens of standards in such a short time.
In addition to the readiness of the companies, the implementation of this program also requires the readiness of practitioners of management accountants, public accountants, academics, regulators and other support professionals such as actuaries and appraisers. Public accountants are expected to immediately update their knowledge in relation to changes in GAAP, SPAP update and adjust the IFRS-based audit approach. Management Accountant / Company can anticipate immediately formed a team of successful convergence of IFRS Accountant in charge of updating the knowledge of management, conduct gap analysis and prepare road map for IFRS convergence and coordination with other projects for the optimization of resources. Accounting Academics / University are expected to form a successful team of IFRS convergence to update the knowledge of academics, revising the curriculum and syllabus as well as perform a variety of related research and provide input / comments on the ED and the Discussion Papers published by the IASB DSAK well.
Regulators need to make adjustments to regulations related to financial reporting and taxation and make efforts toward professional development and supervision associated with the reporting keuanganseperti appraisers and actuaries. Industry associations are expected to develop Guidelines for Industrial Accounting in accordance with GAAP developments, and create a forum that is intensively discussed various issues with respect to the impact of the application of GAAP and proactively provide input / comments to DSAK IAI.

Sumber :

http://ucupneptune.blogspot.com/2007/11/mengapa-akuntansi-internasional.html

http://agusw77.files.wordpress.com/2009/06/perkembangan-akuntansi-internasional4.pdf

http://id.shvoong.com/business-management/accounting/2257610-perkembangan-akuntansi-internasional/#ixzz1oFdz0UGW

http://www.scribd.com/doc/43454433/STANDAR-AKUNTANSI-KEUANGAN

Choi, Frederick D.S., and Gerhard D. Mueller, 2005., Akuntansi Internasional – Buku 1, Edisi 5., Salemba Empat, Jakarta.

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