International accounting differences bring a
number of problems from the standpoint of financial analysis.
1. 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.
2. 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.
3. Third, the issue of comparable properties and the harmonization of accounting is reviewed in the context of alternative investment opportunities.
Differences that arise due to:
1. economic growth,
2. inflation,
3. political system,
4. education,
5. accounting profession,
6. tax laws,
7. money market, and
8. capital.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 the international accounting is divided into three broad areas, Accounting includes several extensive process include:
1. MeasurementCan provide in-depth feedback on the probability of a company's operations and financial position of strength. The process of identifying, classifying and counting aktivtias and transactions, to provide input regarding the profitability and operating depth.
2. DisclosureThe process by which accounting measurement is communicated to the users of financial statements and used in decision making or process of communicating to the user.3. AuditingThe process by which the special accounting professionals (auditors) perform attestation (testing) on reliability of measurement and communication processes.At first, beginning with the accounting system of double-entry (double entry bookkeeping) in Italy in the 14th century and 15. Double entry bookkeeping (double entry bookkeeping), considered the beginning of the creation of accounting. Modern accounting started in double entry accounting was found and used in business activity, namely the multiple listing system (double entry bookkeeping) Luca introduced by paciolo (in 1447).Double entry bookkeeping (double entry bookkeeping) is a standard practice of recording financial transactions. Bookkeeping process only involves recording transactions in a variety of journals and books giving estimates of the classification code (ie the collection of raw financial data), which became the basis for the accounting systems that collect and organize raw data into useful information.Luca Pacioli was born in Italy in 1447, he was not an accountant but the priest who is an expert mathematician, and lecturer at several universities in Italy. Luca who first published the basic principles of double accounting system in his book: the Arithmetica geometria proportioni Summa et proportionalita in 1494. However many historians argue that the basic principles of double accounting system is not a pure idea Luca but he only summarizes the accounting practices that took place at the time and publish it. It is recognized by the Lica (Radebaugh, 1998).Business practices with the reference method venetian Luca wrote the book has become the method adopted not only in Italy but almost all the countries of Europe such as German, Dutch, English.Accounting models in Dutch exports to Indonesia, among others, the accounting system in the French Polynesian and African territories under French rule. Reporting framework of the German system is influential in Japan, Sweden, and Russian empires. Half of the 20th century, as growing economic power of the United States, the complexity of accounting issues arise simultaneously. Then accounting is recognized as a separate academic discipline. After World War II, the accounting impact increasingly felt in the western world. Accounting is supported by the development of education (the emergence of business schools), as times change and the development of international relations, the hassle of getting into accounting.Board of Governors of BI finally lowered the BI Rate by 50 basis points to 8.75%. Consideration, relatively low levels of inflation in December 2008 that inflation in 2008 is still in the range of 11%. The pattern of monetary policy is to inform you that the BI policy rate expected from far more to keep the inflation rate and not be oriented directly stimulate the real sector. Trends in this policy, when implemented in a normal economic conditions are not problematic, but when the economy is experiencing a variety of pressures as they are now, then obviously it will slow efforts to increase the production rate of national output. Therefore, in the context of current policy penutrunan BI rate is indeed very appropriate because it is supported by the decrease in national demand, so that the relative price level maintained the benchmark interest rate reduction can be done.Caring for Purchase PowerOutside the academic debate over, the decline in BI rate today is expected to spur a national production level, either by the micro-small and medium-large. This is because there are fundamental differences between the current crisis with economic tragedy of 1997/1998. In the current context, the economic pressure not only affects large corporations but also micro, small and medium enterprises. Therefore, all the elements of the business in Indonesia must have a policy of equal facilities. If the crisis of 1997/1998 SME sector can be used as substitute support big business, where big corporate layoffs can be transferred to the micro and small sector, so when this pattern can not be done. This caused a decrease in demand nationally and globally to increase the supply of micro and small sector will be difficult to be absorbed by the market.Based on these conditions, the decrease in BI rate today is not only functioned to maintain and increase national production, but also should be used to secure the national purchasing power. That way, the national-level demand for global markets are still depressed and there is no substitute Indonesia's export markets-will be maintained so that the decline in interest rates has a strategic function in accelerating the rate of production offerings. At this point, the various economic stimulus that has been issued by the government and would be positioned integral with monetary policy. The direct economic stimulus policies functioned to maintain and increase national production. Meanwhile, the decline in BI rate is not directly used menjada national purchasing power, so that every occurrence of increased production can be followed by an increase in demand.The issue of "Time Lag"In implementation, the policy does not necessarily decline in BI rate can directly increase the production and consumption through credit schemes. This is due to any decline in interest rates is not immediately followed by a decrease in lending rates by the banking sector. In a normal economy, time lag from the BI rate to decline in mortgage interest required tempo of about 3 months, so the time lag times of crisis is now probably much longer. Worse yet, the issue is not regulated so that the BI as the monetary authority can not force banks directly lowered interest rates following the reduction in the BI rate. This is compounded by the reality that the current banking structure from predominantly foreigners, so that the financial intermediation function to its full potential to be difficult to achieve (though local banks are also contributing to the slow movement of the lending function.)Ineffectiveness of this intermediary function can actually be minimized by effectively utilizing the existing instruments. Four state-owned banks (Mandiri, BNI, BRI and BTN) as a subordinate state can be positioned as a tool to ensure the policy objective of BI is running effectively. Government as majority owner of state-owned banks should be able to force the country's business units so that the lower the mortgage interest credit faster. Acceleration potential of state-owned bank loans is quite large because of the four has a major contribution in the national banking structures. Up to October 2008, four state-owned bank that controls 35.67% of third party funds (DPK) [Banking Statistics Indonesia, 2008]. With the mastery of a relatively large deposits and the interest rate penyesusian the state-owned bank loans to the BI rate, then the national average of 34.52% of credit that has been distributed state-owned banks must be enhanced.It was even so, the overall contradiction between monetary policy and its implementation has provided a description of the current economic structure of the building is very fragile. Monetary policy set by the macro-scale quantitative indicators when implemented on the ground have a much deviation, either because of moral hazard or the infrastructure sector alone are not real good. In a side view, the reluctance of banks lowering mortgage interest can be understood as a still greater credit risk (low purchasing power, political stability is doubtful because of the election events, etc.). However, overall these arguments should not be allowed to become an excuse for all the economic players in the banking sector. This is where the monetary authorities have to be smart to understand the behavior of the banking community in order to decrease BI rate policy effectively run that has implications for the acceleration of the recovery in the real sectorThe Role of Accounting in the Global Capital MarketsIn the era of globalization, businesses and communities have become increasingly complex so requires the development of a variety of disciplines including Accounting. Accounting plays an important role in the economic and social as any financial decisions should be based on accounting information. This situation makes accounting as a profession that is needed existence within business organizations.The business world faster and faster and very varied. Areas that were not of the thought as the business sector is now a major sector. The development of the accounting profession to rise even more after 1985, Bebarengan with the JSE. Bank high interest rates encourage people to find alternatives to meet its capital requirements, increasing competition among companies to be accompanied various problems faced by companies in Indonesia. In the face of all the managers of the company was in dire need of accounting information in decision-making framework.Accounting has developed very rapidly in line with business growth and development of securities, especially shares in the capital markets business. The American public already knows the business since 1900 (Belkaoui, 2007). In the transaction, both the investors and prospective investors have been using the company's financial information as one of the guidelines in making predictions and for making business decisions, the investment in securities, particularly stocks. Positive developments are happening to the stock business in the U.S. capital markets also showed that companies will need capital also increased in step with market developments. This development also shows that capital markets play an important role in the economy of a country, especially the United States in that era. In addition, it also means that the needs and role of accounting information becomes increasingly important.The Role of Accounting in the Global Business SectorIndonesia's economic downturn caused by the 1997 economic crisis mementalkan John Naisbitt predicted that Indonesia will become one of the tigers of Asia. In 2000, three years after the crisis, at a time when other countries are also affected by the crisis such as Thailand, South Korea, the Philippines and Malaysia have obtained a significant improvement of the economy, Indonesia's economy (GDP) grew only 0.2%.(Asian Recovery Information Center - ADB: May 2000) Tanri Abeng (1999) in Djalil (2000), states that there are six basic root of the problem that causes slow improvement in Indonesia's economy, namely:
1. It turned out that the rapid growth of Indonesia before the crisis because it encouraged more investment growth is not due to efficiency and innovation
2. The majority of the market value of listed companies on the JSE was overvalued (90% of the value of publicly traded companies is determined by the growth expectation, only 10% above the real ability to earn profits; different from developed countries, 30% growth expectation, 70% of real ability)
3. Company's financial structure is not healthy (loans over 100% compared to its equity, healthy company should be below 50% of ekuitinya)
4. The existence of mark-up in lending.
5. Unhealthy concentrations of economic (economic pyramid, above: there are 200 private conglomerate owned by 50 families, were: almost empty.
6. There is no good governance (the lowest according to McKinsey 1999)On the other hand, Indonesia faced economic challenges of the 21st century that economic globalization. Economic globalization is a process of economic activity and trade, in which countries around the world into one market power is increasingly integrated with the territorial limits of the state without a hitch.
Source :
http://tikanurmalasari.blogspot.com/2011/03/akuntansi-internasional-part-1.html
http://wartawarga.gunadarma.ac.id/2011/05/1-tugas-soft-skill-akuntansi-internasional/
http://rahasiaakuntansi.blogspot.com/2010/10/perbedaan-akuntansi-internasional-dan.html
1. 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.
2. 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.
3. Third, the issue of comparable properties and the harmonization of accounting is reviewed in the context of alternative investment opportunities.
Differences that arise due to:
1. economic growth,
2. inflation,
3. political system,
4. education,
5. accounting profession,
6. tax laws,
7. money market, and
8. capital.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 the international accounting is divided into three broad areas, Accounting includes several extensive process include:
1. MeasurementCan provide in-depth feedback on the probability of a company's operations and financial position of strength. The process of identifying, classifying and counting aktivtias and transactions, to provide input regarding the profitability and operating depth.
2. DisclosureThe process by which accounting measurement is communicated to the users of financial statements and used in decision making or process of communicating to the user.3. AuditingThe process by which the special accounting professionals (auditors) perform attestation (testing) on reliability of measurement and communication processes.At first, beginning with the accounting system of double-entry (double entry bookkeeping) in Italy in the 14th century and 15. Double entry bookkeeping (double entry bookkeeping), considered the beginning of the creation of accounting. Modern accounting started in double entry accounting was found and used in business activity, namely the multiple listing system (double entry bookkeeping) Luca introduced by paciolo (in 1447).Double entry bookkeeping (double entry bookkeeping) is a standard practice of recording financial transactions. Bookkeeping process only involves recording transactions in a variety of journals and books giving estimates of the classification code (ie the collection of raw financial data), which became the basis for the accounting systems that collect and organize raw data into useful information.Luca Pacioli was born in Italy in 1447, he was not an accountant but the priest who is an expert mathematician, and lecturer at several universities in Italy. Luca who first published the basic principles of double accounting system in his book: the Arithmetica geometria proportioni Summa et proportionalita in 1494. However many historians argue that the basic principles of double accounting system is not a pure idea Luca but he only summarizes the accounting practices that took place at the time and publish it. It is recognized by the Lica (Radebaugh, 1998).Business practices with the reference method venetian Luca wrote the book has become the method adopted not only in Italy but almost all the countries of Europe such as German, Dutch, English.Accounting models in Dutch exports to Indonesia, among others, the accounting system in the French Polynesian and African territories under French rule. Reporting framework of the German system is influential in Japan, Sweden, and Russian empires. Half of the 20th century, as growing economic power of the United States, the complexity of accounting issues arise simultaneously. Then accounting is recognized as a separate academic discipline. After World War II, the accounting impact increasingly felt in the western world. Accounting is supported by the development of education (the emergence of business schools), as times change and the development of international relations, the hassle of getting into accounting.Board of Governors of BI finally lowered the BI Rate by 50 basis points to 8.75%. Consideration, relatively low levels of inflation in December 2008 that inflation in 2008 is still in the range of 11%. The pattern of monetary policy is to inform you that the BI policy rate expected from far more to keep the inflation rate and not be oriented directly stimulate the real sector. Trends in this policy, when implemented in a normal economic conditions are not problematic, but when the economy is experiencing a variety of pressures as they are now, then obviously it will slow efforts to increase the production rate of national output. Therefore, in the context of current policy penutrunan BI rate is indeed very appropriate because it is supported by the decrease in national demand, so that the relative price level maintained the benchmark interest rate reduction can be done.Caring for Purchase PowerOutside the academic debate over, the decline in BI rate today is expected to spur a national production level, either by the micro-small and medium-large. This is because there are fundamental differences between the current crisis with economic tragedy of 1997/1998. In the current context, the economic pressure not only affects large corporations but also micro, small and medium enterprises. Therefore, all the elements of the business in Indonesia must have a policy of equal facilities. If the crisis of 1997/1998 SME sector can be used as substitute support big business, where big corporate layoffs can be transferred to the micro and small sector, so when this pattern can not be done. This caused a decrease in demand nationally and globally to increase the supply of micro and small sector will be difficult to be absorbed by the market.Based on these conditions, the decrease in BI rate today is not only functioned to maintain and increase national production, but also should be used to secure the national purchasing power. That way, the national-level demand for global markets are still depressed and there is no substitute Indonesia's export markets-will be maintained so that the decline in interest rates has a strategic function in accelerating the rate of production offerings. At this point, the various economic stimulus that has been issued by the government and would be positioned integral with monetary policy. The direct economic stimulus policies functioned to maintain and increase national production. Meanwhile, the decline in BI rate is not directly used menjada national purchasing power, so that every occurrence of increased production can be followed by an increase in demand.The issue of "Time Lag"In implementation, the policy does not necessarily decline in BI rate can directly increase the production and consumption through credit schemes. This is due to any decline in interest rates is not immediately followed by a decrease in lending rates by the banking sector. In a normal economy, time lag from the BI rate to decline in mortgage interest required tempo of about 3 months, so the time lag times of crisis is now probably much longer. Worse yet, the issue is not regulated so that the BI as the monetary authority can not force banks directly lowered interest rates following the reduction in the BI rate. This is compounded by the reality that the current banking structure from predominantly foreigners, so that the financial intermediation function to its full potential to be difficult to achieve (though local banks are also contributing to the slow movement of the lending function.)Ineffectiveness of this intermediary function can actually be minimized by effectively utilizing the existing instruments. Four state-owned banks (Mandiri, BNI, BRI and BTN) as a subordinate state can be positioned as a tool to ensure the policy objective of BI is running effectively. Government as majority owner of state-owned banks should be able to force the country's business units so that the lower the mortgage interest credit faster. Acceleration potential of state-owned bank loans is quite large because of the four has a major contribution in the national banking structures. Up to October 2008, four state-owned bank that controls 35.67% of third party funds (DPK) [Banking Statistics Indonesia, 2008]. With the mastery of a relatively large deposits and the interest rate penyesusian the state-owned bank loans to the BI rate, then the national average of 34.52% of credit that has been distributed state-owned banks must be enhanced.It was even so, the overall contradiction between monetary policy and its implementation has provided a description of the current economic structure of the building is very fragile. Monetary policy set by the macro-scale quantitative indicators when implemented on the ground have a much deviation, either because of moral hazard or the infrastructure sector alone are not real good. In a side view, the reluctance of banks lowering mortgage interest can be understood as a still greater credit risk (low purchasing power, political stability is doubtful because of the election events, etc.). However, overall these arguments should not be allowed to become an excuse for all the economic players in the banking sector. This is where the monetary authorities have to be smart to understand the behavior of the banking community in order to decrease BI rate policy effectively run that has implications for the acceleration of the recovery in the real sectorThe Role of Accounting in the Global Capital MarketsIn the era of globalization, businesses and communities have become increasingly complex so requires the development of a variety of disciplines including Accounting. Accounting plays an important role in the economic and social as any financial decisions should be based on accounting information. This situation makes accounting as a profession that is needed existence within business organizations.The business world faster and faster and very varied. Areas that were not of the thought as the business sector is now a major sector. The development of the accounting profession to rise even more after 1985, Bebarengan with the JSE. Bank high interest rates encourage people to find alternatives to meet its capital requirements, increasing competition among companies to be accompanied various problems faced by companies in Indonesia. In the face of all the managers of the company was in dire need of accounting information in decision-making framework.Accounting has developed very rapidly in line with business growth and development of securities, especially shares in the capital markets business. The American public already knows the business since 1900 (Belkaoui, 2007). In the transaction, both the investors and prospective investors have been using the company's financial information as one of the guidelines in making predictions and for making business decisions, the investment in securities, particularly stocks. Positive developments are happening to the stock business in the U.S. capital markets also showed that companies will need capital also increased in step with market developments. This development also shows that capital markets play an important role in the economy of a country, especially the United States in that era. In addition, it also means that the needs and role of accounting information becomes increasingly important.The Role of Accounting in the Global Business SectorIndonesia's economic downturn caused by the 1997 economic crisis mementalkan John Naisbitt predicted that Indonesia will become one of the tigers of Asia. In 2000, three years after the crisis, at a time when other countries are also affected by the crisis such as Thailand, South Korea, the Philippines and Malaysia have obtained a significant improvement of the economy, Indonesia's economy (GDP) grew only 0.2%.(Asian Recovery Information Center - ADB: May 2000) Tanri Abeng (1999) in Djalil (2000), states that there are six basic root of the problem that causes slow improvement in Indonesia's economy, namely:
1. It turned out that the rapid growth of Indonesia before the crisis because it encouraged more investment growth is not due to efficiency and innovation
2. The majority of the market value of listed companies on the JSE was overvalued (90% of the value of publicly traded companies is determined by the growth expectation, only 10% above the real ability to earn profits; different from developed countries, 30% growth expectation, 70% of real ability)
3. Company's financial structure is not healthy (loans over 100% compared to its equity, healthy company should be below 50% of ekuitinya)
4. The existence of mark-up in lending.
5. Unhealthy concentrations of economic (economic pyramid, above: there are 200 private conglomerate owned by 50 families, were: almost empty.
6. There is no good governance (the lowest according to McKinsey 1999)On the other hand, Indonesia faced economic challenges of the 21st century that economic globalization. Economic globalization is a process of economic activity and trade, in which countries around the world into one market power is increasingly integrated with the territorial limits of the state without a hitch.
Source :
http://tikanurmalasari.blogspot.com/2011/03/akuntansi-internasional-part-1.html
http://wartawarga.gunadarma.ac.id/2011/05/1-tugas-soft-skill-akuntansi-internasional/
http://rahasiaakuntansi.blogspot.com/2010/10/perbedaan-akuntansi-internasional-dan.html
http://eriahandaresta.blogspot.com/2011/03/akuntansi-internasional-minggu-1.html
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