1. INTERNATIONAL ACCOUNTING HARMONIZATION

In 1971, Prof. Thomas R. Weirich, Clarence G. Avery and Henry R. Anderson suggests three different approaches:

A. Universal system
2. Descriptive and informative approach that includes all the methods and standards of all countries, and
3. Accounting practices of subsidiaries in foreign countries and parent firms.

They called and explained this defisional approaches, each of the following:

The world of accounting. Within the framework of this concept, the international accounting is considered as a universal system that can be adopted by all countries. Generally Accepted Accounting Principles (GAAP) for the entire world, sort of in the U.S., will be established. Practices and principles will be developed so that it can be applied in all countries. This concept will be the ultimate goal of the international accounting system.

Internasional.Konsep accounting major from the second term involves the international accounting and informatif.Berdasarkan descriptive approach to this concept, covering all the different international accounting principles, methods and standards of all involved negara.Konsep GAAP of each country, so that accountants need to be aware of a number of prinsipberbeda when studying accounting principles internasional.Tidak no universal or perfect that need to be established. Collection of all the principles, methods and standards of all countries will be referred to as the international accounting system. These differences arise due to differences in geography, the influence of social, economic, political, and legal.

Accounting for Foreign Subsidiaries at the three main Negri.Konsep that can be applied to “international accounting” refers to the accounting practices of the parent company and its subsidiaries outside negeri.Acuan the particular country or place of residence in this concept the company is required to report international financial accounting is the main efektif.Kepentingan translation and adjustment of financial statements of subsidiaries. Accounting problems will arise and the different accounting principles to be followed depending on the different countries which is used as a reference for the translation and adaptation.

International accounting aimed at expanding public accounting (general perpose), a nationally oriented, in the broadest sense to:
(1) international comparative analysis,
(2) measurement and reporting of accounting issues that are unique to multinational business transactions and the form of multinational businesses,
(3) accounting for the needs of international financial markets, and
(4) harmonization of worldwide accounting diversity and harmonization of financial reporting through polotik activities, organizations, professions and manufacturing standards.

Harmonization and International Accounting Convergence

In relation to international standards, there are several kinds of steps taken by many countries in relation to differences in the standards they make sebelumnya.Secara outline the steps that can be taken can be divided into the harmonization and convergence.

Harmonization is a process to improve the comparability (compliance) with the accounting practices to determine the limits on how large these practices may vary. In simple terms the harmonization of accounting standards may mean that a country does not fully follow the standards that apply internasional.Negara only make the accounting standards that they have no conflict with international accounting standards.

International Harmonization of advantages:

1) into global capital markets and investment capital can move across the globe without a hitch. High-quality financial reporting standards that are used consistently throughout the world will improve the efficiency of capital allocation.

2) Investors can make better investment decisions will be more diverse portfolio and reduced financial risk.

3) The companies can improve decision making strategies in the areas of mergers and acquisitions.

4) The best ideas arising from the standard pat-making activity is spread in developing global standards of the highest quality.

Convergence in accounting standards and international standards in the context of future intended means there will be only one standard. One then applies that standard to replace the standard that had been made and used by the country’s standard convergence sendiri.Sebelum there usually there is a difference between the standards that were developed and used in the country by international standards. Convergence of standards would remove the differences slowly and gradually so that later there will be no difference between the state standards with internationally accepted standards.

IFRS (International Financial Accounting Standard)

The IFRS international accounting standards issued by the International Accounting Standards Board (IASB). International Accounting Standards developed by the world’s four major organizations, namely the International Accounting Standards Board (IASB), Commission of the European Community (EC), International Organization of Capital Markets (IOSOC), and Federation of International Accounting (IFAC).

IFRS (International Financial Accounting Standard) is an effort to strengthen global noted that financial architecture and the search for lasting solutions to the lack of transparency of financial information.

The purpose of IFRS is to ensure that the interim report noted that financial companies to dimaksukan periods in the annual financial statements, contain high quality information that:

1 . Transparency for users and comparable throughout the period presented.
2. Provide an adequate starting point for accounting based on IFRS.
3. Can be produced at a cost not to exceed the benefits to the users.

While the potential benefits of a change of system of IFRS as a global standard yatitu:

* Be the global capital markets and investment capital can move across the world without any fuss. Stadart high-quality financial reporting that is used consistently throughout the world will improve the efficiency of the local allocation.

* Investors can make better decisions
* Companies can improve the decision making process regarding mergers and acquisitions
* The best ideas arising from the manufacture of standard activities may be disseminated in developing high-quality global standard.

In addition to the role of regulator, AEI has interests as an association have to empower its members to overseas investors can see the same reference if we have to adapt to IFRS. About the purpose of application of IFRS is to ensure that the preparation of the interim report noted that financial companies for the periods included in the annual financial statements, contain high quality information that consists of:

* Ensuring that the financial statements of the company’s internal quality infomasi mmengandung
* Transparency for users and comparable throughout the periods presented
* Can be produced at a cost not to exceed the benefits to the users
* Increase investment

Thus the role of regulators in the socialization of what a great goal and the benefits go to IFRS. “The company will also enjoy a lower capital cost, which is more easily consolidated, and integrated information technology system,” said Patrick Finnegan, a member of the International Accounting Standards Board ( International Accounting Standards Board / IASB), IFRS in the National Seminar in Jakarta.

more info :

http://busn.uco.edu/fbuchanan/BusHorizons.pdf
http://www.econ.upf.edu/docs/papers/downloads/294.pdf

2. INTERNATIONAL FINANCIAL ANALYSIS

 DIFFICULTIES OF INTERNATIONAL BUSINESS STRATEGY ANALYSIS AND STRATEGY FOR THE COLLECTION OF INFORMATION
The purpose of financial analysis is to evaluate the performance of companies on the present and past, and to assess whether the performance can be maintained. Investors, equity research analysts, financial managers, bankers, and users of financial reports other has a greater need to read and analyze foreign financial statements.
The need to use and to understand, foreign financial statements also increased due to merger and acquisition activities occurring internationally.

Analysis of International Business Strategy
Analysis and assessment of international finance is characterized by many contradictions. On one hand, how quickly the process of harmonization of accounting standards lead to a growing pretext comparability of financial information around the world. Analysis of business strategy is an important first step in the analysis of financial statements. This analysis provides a qualitative understanding of the company and its competitors related to the economic environment. By identifying the drivers of profit and risk factor is the main business, business strategy or business analysis will help the analyst to make a realistic prediction.
The difficulties of analysis of international business strategy:
a. Availability of information
Analysis of business strategy particularly difficult in some countries because of its lack of reliable information on macroeconomic developments. Obtain information about the industry is also very difficult in many countries and the number and quality of information companies are very different. Availability of specific information about the company is very low in developing countries. Lately, many large companies that keep records and raise capital in foreign markets and have expanded their disclosure voluntarily switch to accounting principles that are recognized globally as an international financial reporting standards.
b. Recommendations for analysis
Data limitations make the effort to analyze the business strategy by using traditional research methods to be difficult. Often frequent trips to study the local business climate and how the industry and the company actually operates, particularly in emerging market countries.
Analysts need to evaluate policies and accounting estimates, and analyze the nature and scope of a company’s accounting flexibility. The managers of the company is allowed to make a lot of considerations related to the accounting, because they know more about the financial condition and operations of their companies. Reported earnings is often used as a basis for evaluating the performance of their management.

ACCOUNTING ANALYSIS STEPS
Accounting analysis
The purpose of accounting analysis is to analyze the extent to which the company reported results reflect the economic reality. Analysts need to evaluate policies and accounting estimates, and analyze the nature and scope of a company’s accounting flexibility. The managers of the company is allowed to make a lot of considerations related to the accounting, because they know more about the financial condition and operations of their companies. Reported earnings is often used as a basis for evaluating the performance of their management.
The steps in evaluating the quality of accounting of a company:
a)      Identify the main accounting policies
b)      Analyze the flexibility of accounting
c)      Evaluate the accounting strategy
d)     Evaluate the quality of disclosure
e)      Identify potential problems it is
f)       Make adjustments for accounting distortions

ANALYSIS OF EFFECT OF ACCOUNTING ACCOUNTING BETWEEN STATE AND PREDICAMENT INFORMATION REQUIRED IN OBTAINING
Financial analysis covers different areas of jurisdiction. For example, an analyst may be some time to study a firm outside the country of origin or to compare companies from two or more countries. A number of countries that have very large differences in accounting practices, the quality of disclosure, the legal system and laws, the nature and scope of business risks, and how to run a business.

This difference means that a very effective analytical tool in the region to be less effective in other regions. The analysts also often face a great challenge to obtain credible information. In most emerging market countries, financial analysts often have high levels of confidence or of limited reliability.
In obtaining the data of International Accounting, there are several difficulties, among others:

1. Depreciation Depreciation expense adjustment will affect profits, it is necessary to consider the age of the functions that must be decided asset management.
2. LIFO to FIFO inventory adjustment supplies should be converted into the FIFO method
3. Backup Backup is the company’s ability to pay or cover expenses for removing the load.
4. Financial Statement Adjustments reformulation of some of the changes after a few calculations on the points mentioned above.

MECHANISM TO RESOLVE DIFFERENCES BETWEEN ACCOUNTING PRINCIPLES OF STATE
In addressing the Inter-country differences in accounting principles can be done by several approaches such as:

1. Some analysts present the foreign accounting resize according to a group of internationally recognized principles, or according to other, more general basis.
2. Some of the Others develop a complete understanding of accounting practices in a particular group of countries and companies to limit their analysis of companies located in the State that State.

DIFFICULTIES AND WEAKNESS IN THE INTERNATIONAL FINANCIAL ANALYSIS
a. access to information
Information about thousands of companies from around the world have been widely available in recent years. Sources of information in countless numbers up through the World Wide Web (WWW). Companies in the world today have a website and annual report are available free of charge from various other sources.
Another source of valuable information are (1) government publications, (2) economic research organization, (3) international organizations such as the United Nations, (4) organization of accounting, auditing, and securities markets.
b. Timeliness of information
Timeliness of financial statements, annual reports, reports to regulators vary in each country. Differences in the timeliness of accounting information adds to the burden of the readers of financial statements of foreign companies. The burden is greater for firms that have an environment that constantly changes. Assessment conducted in order to be meaningful, it needs constant adjustment of the amount that was reported, by means of conventional or unconventional.
c. Barriers of language and terminology.
d. Foreign currency issues.
e. Differences in the type and format of financial statements.

USE OF WEBSITE / WORLD WIDE WEB (WWW) TO OBTAIN INFORMATION RESEARCH COMPANY
To Obtain Information Research Company Many companies do not make optimum use of disclosure of corporate information via the website, both for financial and corporate sustainability. Another finding in this study is that many companies can not provide information for investors, most of the information presented in the company’s website is about the products or services produced and the many companies that do not update the information presented.
a. Internet Financial and Sustainability Reporting
Since 1995, there have been developments of empirical research related to Internet Financial Reporting (IFR), which reflects the development of forms of corporate disclosure. Some studies examine the factors that influence disclosure policy in the company’s website, such as research conducted by Pirchegger and Wagenhofer (1999) and Saso and Luciana (2008a). Some studies examine the nature and expansion of financial reporting on the company website as an instrument that relate to the stakeholder.
b. Corporate Social Responsibility
Understanding and awareness of business entities to maintain good relations with all stakeholders in an effort to minimizing negative impacts and maximize the positive impact the company’s operational activities towards sustainable development is now understood as a CSR (Corporate Social Responsibility. Strengthening the sustainable development paradigm and corporate social responsibility initiatives CSR reporting or making social and environmental performance are considered as important as the reporting of economic performance. biggest problem is that the quality of non-financial reports are not yet as good as the quality of financial reporting. In addition to far adrift age (> 500 vs. 10-20 years), the gap between the two is marked by a degree of formality, the destination number and interval report.

Sourcer :
http://whindajuli.blogspot.com/2011/05/analisa-keuangan-internasional.html
http://dididyah.blogspot.com/

3. MANAGEMENT PLANNING AND CONTROL

FOUR DIMENSIONS IN MAKING BUSINESS MODEL
Determination of the business model of the big picture, and consists of the implementation, formulation and evaluation of long-term business plan. This game includes four dimensions, namely:

1. Identify the major factors that are relevant to the company’s progress in the future.
2. Formulate an adequate technique to predict future developments and analyze the company’s ability to adapt or take advantage of this development.
3. Develop data sources for the selection of strategic support.
4. Particular choice is translated into a specific set of actions.

STANDARD COST DIFFERENCE CONCEPT AND KAIZEN
Determining the standard cost system tries to minimize the variance between budgeted costs with actual costs. Kaizen Costing stressed to do what is necessary to achieve the desired levels of performance in a competitive market conditions.

The concept of Standard Costs	The concept of Kaizen Cost
Cost control	cost reduction
Applied to existing manufacturing conditions	Applied to manufacturing improvements on an ongoing basis
Goals: compliance with performance standards	Objective: To achieve cost reduction targets
Standards are determined each year	Target cost reduction is determined each month
Analysis of variance based on actual vs. standard	Analysis of variance based on a constant cost reduction
Investigate if the standard is not met	Investigate if the target is not achieved cost

RETURN OF INVESTMENT ESTIMETES
The decision to invest abroad is a very important element in global strategies of multinational corporations. Foreign direct investment involves a large number of general capital and uncertain prospects. Investment risk, followed by an unfamiliar environment, complex and constantly changing. Generally, a formal planning necessity and carried out within the framework of capital budgeting that compares the benefits and costs of the proposed investment.
In the international environment, investment planning is not as simple as that. Differences in tax law, accounting systems, the rate of inflation, the risk of nationalization, currency framework, market segmentation, transfer restrictions retained earnings, and differences in language and culture add to the complexity of the Elements That rarely found in domestic environments. The difficulty for the quantification of these data make-existing problem worse.

CALCULATION OF MULTINATIONAL COMPANY CAPITAL COSTS
If foreign investment is evaluated by using a discounted cash flow models, the appropriate discount rate should be developed. The theory of capital budgeting in particular using cost of capital as its discount rate, thus a project must generate returns at least equal to the cost of capital in order to be acceptable. The level of the benchmark (hurdle rate) is related to the proportion of debt and equity in the company’s financial structure as follows.
It is not easy to measure the cost of capital of a multinational company. The cost of equity capital can be calculated in several ways. One popular method that combines the expectations of return on the dividend by the dividend growth rate expectations. Assuming At = expected dividend per share at the end of the period. Po = market price of the stock is now at the beginning of the period and g = expected growth rate in dividends, the cost of equity, to be calculated as follows to = At / Po g. Although capital is to measure the price of the shares present, in most countries where shares of listed multinational companies, is often quite difficult to measure in and g. In the first place because of the expectations. Expected dividend depends on the company’s operating cash flow as a whole. Measuring the cash flow is complicated by the consideration of environmental factors. Moreover measurement of the dividend growth rate a function of expectations of future cash flows is complicated by the exchange control and other government restrictions on the transfer of funds across borders.

PROBLEMS IN DESIGNING AND CONTROL SYSTEM HASSLE FINANCIAL INFORMATION SYSTEMS AND MULTINATIONAL COMPANIES
Clear distance is a hassle. Caused by geography, formal information communication generally replace the personal contact between the local operations manager with office management.
Three global information technology strategy, each of which is associated with certain types of multinational organizations. Achieved success depends on the suitability of the design of systems with corporate strategy:
a)      the deployment of low to high centralization. Used by smaller organizations with limited international business operations and information systems need to dominate domestic
b)      high with a spread of low centralization. Local subsidiary is given a significant influence on the development of strategies relating to technology and information systems Himself.
c)      high with a spread of high centralization. Following the global information technology strategy execution locally by global companies with strategic alliances throughout the world. Information system is designed to reflect the needs of the company adapted to local conditions.
Management Accountant to prepare some information for the management of companies, ranging from data collection to reporting estimates of different types of liquidity and operational expenditure. For each group of data submitted by the company management should determine the relevant time period for the report, the level of accuracy required, the frequency of reporting and the costs and benefits of depreciation and timely delivery. Here also the environmental factors that influence the use of information generated translation. Reports from overseas operations of multinational companies are generally translated into U.S. dollar equivalent value of the manager’s office in the U.S. to evaluate their investment in dollars.

VARIANCE ANALYSIS OF EXCHANGE RATE
Three exchange rate to use when Preparing the draft operating budget at the beginning of the period:
a)      The spot exchange rate when the budget prepared
b)      exchange rate expected to apply at the end of budget period (projection level)
c)      exchange rate at the end of the period when the budget be adjusted if changes in the exchange rate (closing rate)

SPECIAL DIFFICULTIES IN IMPLEMENTING THE SYSTEM DESIGN AND PERFORMANCE EVALUATION OF MULTINATIONAL COMPANIES
Evaluation of performance on certain multinational companies are classified into three levels Basically, namely (1) Level Leadership (Director and above), (2) Supervisors and above, and (3) Employees of low (blue). In the evaluation of the directors to the top, the assessment is directed “leadership framework” which includes 13 behaviors were classified into 4 groups:
1. Inspire people consisting of:

• Leading people. Is the ability of civil servants and make them confident in doing something so That They could create the appearance was consistent with the principles of management and leadership with the translation as follows: Related to keep all relevant information and community, increase effectiveness of work teams and team principal to success.
• Developing people. Is to help employees to identify needs for the successful development needs, encourage employees to learn to provide suitable support. With the translation as follows: Provide a detailed command ensures that the command was understood and Cleary look and create a positive environment for long-term development.
• Practice what you Preach. Is it to be consistent with the principles and values Realizing, including “the passage of communication” even in difficult times.

2. Opening up, consisting of:

• Knowing yourself. Is the ability to precisely identify and understand the power of yourself and fix it as well as applied and implemented in effect, order was understood in a person’s effectiveness in the organization. And has an extensive self-care and deep. Act as a constant (stable) on the influence of their power to correct and compensate for weaknesses.
• Insight. Is the ability to identify relationships between facts, ideas and the situation was not clear and collecting it to solve problems that require priority, clarify and explain the complex situation that has been given / created an opportunity\
• Courage. Associated with the capacity and confidence of employees in their opinion, and allowed to make decisions or choices, along with concerns Evaluating the risks and responsibilities in dealing with critical situations and challenges.
• Curiosity. An employee openly curiosity to learn more about the environment by asking questions to think or do research It appears simple, broad and constant.
• Service orientation. Is the desire to help or serve the customer with an understanding of customer expectations and needs, providing quality services that are long lasting and mutually beneficial as well as a long-term perspective on the merits.

3.   Call with the Other, which consists of:

• Proactive cooperation. Whether working with others through a commitment to Achieve object groups, understand their needs and other targets and adapting own views and the views, if appropriate behavior through personal contribution to effective teamwork.
• Impact: Convince and Others. Is convinced, directly or indirectly to obtain commitment to the project idea or action that the Organization of interest through the use of a lot of convincing arguments, generate interest in others by using the influence of an integrated strategy.

4.   Adding value, comprising:

• The results of the focus. Ambition is to meet the target performance / quality standards and work continuously to Obtain Suitable methods of process improvement, motivation to Achieve the target to increase employment and maximize employment in the long run.
• Initiative. Make the employee is to act proactively (to act and think in simple terms) so that the initiative was not just reacted to the situation, but also anticipating for a long time and do it well.
• Innovation / Renovation. Display behavior to receive the ‘status quo’ challenges in improving the control and new ideas so that there is a change up and running efficiently.

HOW TO FIGHT INFLATION AND THE EFFECT ON fluctuations MULTINATIONAL CORPORATE PERFORMANCE MEASUREMENT
For multinational companies, foreign currency fluctuation level of uncertainty resulting from the company’s operations in the international arena. Eye risk management refers to enterprise risk management transactions, economic, and translation. Transaction risk refers to the likelihood that cash transactions in the future will be influenced by changes in exchange rates. Economic risk refers to the possibility that the present value of cash flow company in the future will be influenced by exchange rate fluctuations.
One way to overcome problems of economic risk and the risk of the transaction is to hedge (hedging). Swap contracts require the buyer before a certain currency with a certain exchange rate (forward rate) at a predetermined date in the future. In the face translational risk, management can give a report in dollar-denominated and local multinational management can know the true state of the local divisions and the impact of foreign currency translation.
Multinational companies use a system of decentralized Because It Gives advantage to the country of origin and distribution of foreign divisions. These advantages include:

1. Local managers able to generate better decisions through the use of local information.
2. Local managers can provide more timely responses to changing circumstances
3. Center manager is not possible to understand all of products and markets.
4. Train and MOTIVATE local managers to make decisions daily operations so that top management can focus was more on long-term problems.

Performance measurement in multinational companies should separate the evaluation of a division manager with evaluation of this division. Managers should be evaluated based on revenue and costs incurred. Once the manager is evaluated, a subsidiary of the financial statements can be tailored to the parent company’s currency and the cost can be allocated beyond the control of managers. Environmental factors such as social culture, economic, political, legal, and differ in one country from another country is out of control, but managers will affect company profits and ROI.

Sumber :

http://www.accel-team.com/control_systems/h_control_01.html

4. TRANSFER PRICING AND

INTERNATIONAL TAXATION

TRANSFER PRICING AND INTERNATIONAL TAXATION

INITIAL CONCEPT

The complexity of the laws and rules that determine the tax for foreign companies and the profits generated abroad actually derived from some basic concepts

1.      Neutrality tax is the that the taxes do not have an influence (or neutral) against the decisions of allocation of resource.

2.      Equity tax is the that the compulsory tax that facing a situation that resemble and the similar undue pay the taxes who same but against of disapproval inter how the implements the this concept.

PROFIT FROM THE SUMBAR taxation abroad,

Some States separti french, costal Rica, hongkong panama south africa, swiss and venezuala apply the principle of territorial taxation and impose taxes on companies that are domiciled in the country that profits generated outside the State. While most countries (including Australia, Brazil, China, Czech Republic, Germany, Japan, Mexico, Netherlands, UK, and Amarika States) to apply the principles throughout the world and impose taxes on profits or income of companies and citizens in it, regardless of the territory of the .

FOREIGN TAX CREDIT

Tax credits can in the estimate if the the amount of income tax outer that nation that they paid will not too unclear (ie when the child companies overseas sends partly profits which sourced from overseas to the the parent domestic companies). Dividends are reported here in the parent company’s tax return should be calculated gross (gross-up) to cover the amount of taxes (which are considered paid) plus all foreign levies taxes applicable. This means that as if the parent company receives dividends domestically which includes taxes owed to foreign governments and then pay the tax.

Indirect tax credit allowed foreign (foreign income taxes deemed paid) is determined as follows:

Dividend payments

(Including all tax levies)

x foreign tax can be credited

Profit after tax foreign income

PLANNING TAX IN COMPANY MULTINATIONAL

In the tax planning of multinational companies have certain advantages over a purely domestic firm because it has greater flexibility in determining the geographic location of production and distribution systems. This flexibility provides the opportunity to utilize their own national tax ataryuridis differences so as to lower the overall corporate tax burden.

Observations top of problem planning this tax in began to with two things basic:

1.      Tax considerations should never mengandalikan business strategy

2.      Changes in tax laws are constantly limit the benefits of tax planning in the long term.

VARIABLES IN TRANSFER PRICING

Transfer prices set a monetary value on the exchange between firms that take place between the operating unit and is a substitute for market prices. In general, the transfer price is recorded as revenue by one unit and the unit cost by others. Cross-border transactions of multinational corporations are also open to a number of environmental influences that created the same time destroying the opportunity to increase profits through transfer pricing. A number of variables separti tax rate competition infalsi rates, currency values, limitations on the transfer of funds, political risk and the interests of joint venture partners are very complicated transfer pricing decisions.

TAX FACTOR

Reasonable transaction price is the price to be received by parties not related to special items the same or similar in the exact same situation or similar. Reasonable method of determining the transaction price that is acceptable is:

1.      the method of determining the comparable uncontrolled price.

2.      method of determining the resale price.

3.      plus the cost price determination methods and

4.      other methods of assessment rates

DEFINITION FACTOR

Tariffs for imported goods also affect transfer pricing policies of multinational corporations. In addition to the balance didentifikasikan, mulinasional companies should consider the costs and benefits, both internal an external. High tax rates paid by the importer will generate the income tax base is lower.

Competitiveness Factors

Similarly, a lower transfer price can be used to protect the ongoing operation of the influence of foreign competition is increasingly tied to the local market or other markets. Considerations the competitiveness like it should be be balanced against against many losses which result vice versa. Transfer rates for competitive reasons may invite anti-trust action by the government.

Performance Evaluation Factors

Transfer pricing policy is also influenced by their influence on behavior management and is often the main determinant of company performance.

Accounting for Contributions

The management accountant can mamainkan a significant role in calculating the balance (trade-offs) in transfer pricing strategies. The challenge is to maintain a global perspective when mapping the benefits and costs associated with determining pricing decisions

TRANSFER PRICING METHODOLOGY

In a world with very competitive transfer rates, it will be a big deal when they wanted to transfer pricing resources and services between firms. However, there is rarely a competitive external market for products that are transferred between related entities is special. Problem of determining these costs are felt in the international level, because the concept of cost accounting is different from one country to another.

Principle of Fair

A common type of multinational companies is the integration operation. Subsidiaries are in the same control as well as sharing the same source and destination. The need to declare taxable income in different countries means that multinational companies must allocate income and expenses among subsidiaries and determining transfer prices for transactions between companies.

source:

http://agiewahyuwinata.blogspot.com/2011/05/penetapan-harga-transfer-dan-perpajakan.html

5. FINANCIAL RISK MANAGEMENT IN

INTERNATIONAL ACCOUNTING

FUNDAMENTAL THINGS

Main objectives of financial risk management is to minimize the potential loss arising from unexpected changes in currency rates, credit, commodities, and equities. The risk of price volatility faced is known as market risk.

Market participants tend not to take risks. Intermediary financial services and a market maker responds by creating a financial product that allows a trader to shift the risk of unexpected price changes to others-the other side.

There is market risk in various forms, other risks:

1.      Liquidity risk arises because not all the financial risk management products can be traded freely. Highly illiquid market is such as real estate and stocks with small capitalization.

2.       Market discontinuity refers to the risk that the market does not always lead to price changes to survive. Stock market crash in 2000 is a case in point.

3.      Credit risk is the possibility that the other party in the contract risk management can not meet its obligations. For example, the parties agree to exchange the euro versus the French into the Canadian dollar may fail to submit the euro on the date promised.

4.      Regulatory risk is the risk arising from public authorities banned the use of a financial product for a particular purpose. For example, Kuala Lumpur stock exchange does not allow the use of shrot sales as a means of hedging against the decline in equity prices.

5.      Tax risk is the risk that certain hedging transactions can not obtain the desired tax treatment. For example, treatment of foreign exchange losses as capital gains as ordinary income to be preferred.

6.      Accounting risk is the chance that a hedging transaction can not be recorded as part of the transaction is hedged about. An example is when the advantage over a hedge against the purchase commitments are treated sebgaai “other income” rather than as a reduction of purchasing costs.

MANAGING FINANCIAL RISK WHY?

The growth of risk management services that quickly shows that management can enhance shareholder value by controlling the financial risk. If the value of the company to match the present value of future cash flows, active management of potential risks can be justified by several reasons.

First, exposure management helped in stabilizing the company’s cash flow expectations. Flow is more stable cash flows that can minimize earnings surprises thus increasing the present value of expected cash flows. Active exposure management allows companies to concentrate on the major business risks.

Lenders, employees and customers also benefit from exposure management. Finally, because of losses caused by price and interest rate risk of certain transferred to the customer in the form of higher prices, limiting exposure management of risks faced by consumers.

THE ROLE OF ACCOUNTING

Management accountants to help in the identification of market exposure, quantify the balance associated with alternative risk response strategy, the company faced a potential measure of risk, noting certain hedging products and evaluate the effectiveness of the hedging program.

1.      Identification of Market Risk

The basic framework is useful for identifying different types of market risk that could potentially be referred to as risk mapping. This framework begins with the observation of the relationship of the various market risks triggering a company’s value and its competitors. And usually referred to as cube mapping risk. The term trigger value refers to the financial condition and performance items that affect the financial operations of the main value of a company. Market risks include the risk of foreign exchange rates and interest rates, and commodity price risk and eukuitas. The third dimension of the cube mapping risk, look at the possible relationship between market risk and trigger values for each of the company’s main competitor.

If a competitor to buy baseball caps from abroad and the country’s currency depreciates in value purchase source relative to the currency of your country, then these changes can cause your competitors are able to sell at lower prices than you. This is referred to as the risk of facing currency competitive.

2.      Balancing quantify

Another role played by accountants in the process of risk management involves balancing the quantification process relating to the alternative risk response strategies. Accountants must measure the benefits of protected areas assessed and compared to the cost plus the opportunity cost of lost profits from speculation and market movements

3.      Risk Management in the World with a Floating Exchange Rate

The risk of foreign exchange (forex) is one of the most common form of risk and will be faced by multinational companies. In a world of floating exchange rates, risk management include:

            a.       anticipation of exchange rate movements,

            b.      measurement of exchange rate risks facing the company,

            c.       design of appropriate protection strategies, and

            d.      the manufacture of internal risk management controls.

 source:

http://www.accel-team.com/control_systems/h_control_01.html

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Akuntansi Internasional

The third assignment (International Accounting)
1. Identifying terms of accounting standards and the determination of accounting standards
International Financial Reporting Standards / Iternational Standarts Financial Reporting (IFRS). Inetrnasional accounting standards are used as a result of:
1) international treaties or political,
2) voluntary compliance,
3) the decision by the national accounting standards-making body
The purpose of this standard is to ensure that the company’s internal financial statements for the period – the period referred to in the annual financial statements, which created the first time by the NII IFRS contains information berkualitastinggi for pengguana transparent and comparable throughout all periods presented, provides adequate initial titk for accounting based on IFRS and can be produced at a cost not to exceed the benefits to the users.
According to Prof. Haim Falk explained that there are four advantages to using international accounting standards:
1.  With regard to rekonsiliasikepentingan – special interests of managers – managers who are responsible for financial reporting and the needs of users of financial information
2. The limited capacity of financial information ntuk menginterplasikan recipient of such information appropriately
3. The overall credibility of financial reporting process and the accounting profession to support it
4. Because of the comparative financial information is disclosed is an argument relating to the above point
Internationalization of accounting standards has disebsbkan accounting entry barriers in the social sciences that can not be separated with flexibility so that relative to adapted. According Fante stndarisasi identified three barriers between the countries of international accounting – Developed countries include:
A. Differences in background and tradition of the rear
2. Different needs of different economic environments
3. Standardization challenges to national sovereignty
which tends to support the development of international accounting and reporting standards include:
1. Financial analysis and brokers in the stock market
2. The tendency of large companies looking for capital needs of another State
3. The growing operations – multinational business operations
4. Approval of the encourages inter-state harmonization of the various forms of
5. Increased road show to various state executives infestor
6. Survey
7. Mengglobalnya practice of professional accountants to various State
8. Policies of organizations that promote the use of creditors international
9. Body – the regulatory body of the capital
10. Books – textbooks
Some of the history of the international accounting standard setting
1. Kmite in 1973 the International Accounting Standards (International Accounting Standard Comunite = IASC)
2. In 1977 the Organization for economic cooperation and development (Organization for economic coorporation and development = OECD) issued a declaration of multinational investment in the company ‘that contains
3. In 1977 the International Federation of Accountants (International Federation of Accountant = IFAC) was founded in the same pre experts appointed by the board of United Nations economic and social mangeluarkan reports comprising four parts of the international standards of accounting and reporting for international companies
4. European Commission issued a directive four people as a first step towards European accounting
5. Year 1987Organisasi Interantional Capital market Committee (IOSCO) said in its annual conference to encourage the use of common standards in accounting and auditing practices
Meanwhile, according to Nobes and Parker said the cultural, social and political is the dominant factor affecting the regulation of accounting in many countries. It is obvious that the determination of accounting standards is not only a technical problem.
Accounting standards
Accounting standards can be considered as general guidelines for the preparation of financial statements are an official statement about certain accounting issues issued by regulatory authorities and applicable in a particular environment. Accounting standards generally consists of:
(1) a description of the problems encountered
(2) a logical discussion or how to solve the problem
(3) associated with the decision / theory proposed a solution
Accounting standards by Edey (1977) is divided into four types, namely:
(1) type 1 accountant should notify the user about what they do by making the methods and assumptions (accounting policies) are in the embrace.
(2) type 2 help achieve some keseraaman presentation of certain accounting statements.
(3) type 3 requires disclosure of specific things that affect the user’s consideration.
(4) type 4 requires making implicit / explicit to be made about the valuation of assets and determination of the profits are approved.
Standards in determining objectives
Determination of the standard is that a social choice standara may benefit a particular party and harm others. Most of the issues relating to akunyansi politically sensitive due to:
(1) the need for accounting standards appears when there is disagreement
(2) accounting information can affect the level of welfare use
In determining the standard there are two approaches, namely:
A. Rrepresentative faithfulness,
This approach requires that the reporting is neutral and fair presentation of financial statements through the process of setting standards. This approach to accounting equates with the mapping process which maps should be accurate to describe the company’s financial condition is fair.
2. Economic Consequences,
This approach requires that the standard asopsi have favorable economic consequences. This approach tends to lead to the determination of standards meemiliki positive influence.
Standard setting process
Usually the process of setting standards through an open process (due-procees). FASB as an example of this process follows the following procedure:
1) Identify the problem from the problems that arise in the note on the agenda.
2) The appointment of the group whose members consist of public accounting and business.
3) Discussion Memrorandum (DM) in the spread kepublik to be evaluated for a period not later than 60 days.
4) The opinion made to discuss the advantages and disadvantages of the various alternatives proposed FASB
5) Based on various komnentar received, the FASB issued a ‘exposure draft’ (ED) of proposed accounting standaar. ED determine the exact position of the FASB on issues discussed.
6) ED transmitted to the public for at least 30 days evaluation
7) With a view to discuss the weaknesses and the good of the various alternatives proposed FASB
On the basis of comments received, the FASB to take steps as follows:
(A) to adopt these standards as a statement
(B) proposed revisions to the proposed standards through the procedure “due process”.
(C) Pending the standard spending and saving role in the issue
(D) is not standard issue and remove the issue from the
Approach to setting standards
Two approaches can be used in the determination of accounting standards is:
A. Free market approach
This approach is based on the assumption that accounting information is an economic commodity similar to the goods or services will be affected lain.Sehingga accounting information demand and supply strength. Market is seen as an ideal mechanism to determine the type of information should be disclosed and the recipients of information. Thus the accounting standards to determine the information produced and who will receive the information.
2. Regulatory approach
This approach argues that the failure of markets or information in relation to kuantias asismetris and quality. Proponents of this approach believe Bajwa dapaat market failures seen on the following factors:
a) The theory of regulation
The crisis of setting standards encourage the emergence of regulatory accounting policies. Therefore terhadapat demand such policies or standards iatu yanag driven by a crisis arises, the standard setters to respond by providing the policy. The relationship between demand and supply trim on a balance. In a dynamic regulatory process, there is an ongoing process of continuous adjustment to the standard demand and supply.
Belkaoui (1985:48) says that the regulations are generally assumed to be designed and operated in the interest of existing industries. There are two theories of regulation in the industry, namely:
(1) The theory of public interest (public interest theory)
(2) The theory of interest groups (interset group therory).
Public interest theory holds that regulation is needed in response to public demand for improved market practices that are inefficient and unfair. While the theory holds that regulation keompok interest is provided in response to the request of certain groups to maximize their income. In the theory of the group has two versions, namely
(1) theory of elite political and economic theory of regulation.
2. Understanding why different from standard accounting practices prescribed
Harmonization and International Accounting Convergence
In the known existence of financial accounting standards must be followed in making the financial statements. The standard is necessary because of the many users of financial statements, even for a similar financial statements. If there is no standard, the company may present its financial statements at their disposal in accordance with the will of their own. This will be a problem for users because it will make it difficult for them to understand the existing financial statements.
Existing standards for financial accounting standards made by the board in each country. Council is to set standards of accounting standards applicable in the country and used by entities that exist in the country as well. Because the accounting standards prepared and compiled by each board of standards in each country, accounting standards from country to
country may differ greatly.
Currently, when the business world can be said almost without limit state, the production of resources (eg money) that is owned by an investor in a particular country can be moved easily and quickly into the country through mechanisms such as the stock market. Of course there will be a problem when the accounting standards used in different countries with the accounting standards used in other countries. Investors and potential investors and creditors and potential creditors will have great difficulty in understanding the financial statements are presented with different standards.
Harmonization is a process to improve the compatibility (suitability) accounting practices by setting limits on how large these practices may vary. Harmonization of standards will be free of conflicts of logic and can improve the comparability (comparability) of financial information from different countries.
Efforts to harmonize accounting standards have been started long before the establishment of the International Accounting Standards Committee in 1973. More recently, a number of companies seeking to raise capital in markets outside the country of origin and the investors who seek to diversify their investments internationally face increasing problems as a result of national differences in terms of accounting, disclosure, and audit.
Sometimes people use the term harmonization and standardization as if both have the same meaning. However, contrary to the harmonization, standardization generally means the determination of a group of rigid rules and narrow and may even be the application of a single standard or rule in any situation. Standardization does not accommodate the differences between countries, and therefore more difficult to diimplemntasikan internationally. Harmonization is much more flexible and open, do not use one size fits all approach, but to accommodate some of the differences and have experienced great progress internationally in recent years.
Comparability of financial information is a concept that is more clear than harmonize. The information generated from the system of accounting, disclosure and audit different or comparable if it has a similarity in the way in which users can compare the financial statements without the need to familiarize themselves with more than one system.
Accounting standards are the regulations or rules (including also the laws and statutes) that govern the preparation of financial statements. Standard setting is the process of formulating or formulation of accounting standards. Standards are the result of standard setting. However, actual practice differs from the prescribed standard. That is because the 4 things: in most countries the penalty for noncompliance with the provisions of the official accounting tends to be weak and ineffective voluntary infomasi company may report more than required; some countries allow companies to ignore the accounting standards if by doing operations and financial position will tersajikan better results, and in some countries, the standard only applies to the separate financial statements, and not for the consolidated report.
Accounting standard setting involve a combination of private sector group that includes the accounting profession, users and compilers of financial statements, the employees and the public which includes agencies such as the tax authorities, ministries in charge of commercial law and capital market commission. Stock exchanges are private or public sector (depending on country) also affect the process. In common law countries, the private sector is more influential and auditing profession tends to regulate itself and to better be able to attest to the consideration of the fair presentation of financial statements. In code law countries, public sector and influence over the accounting profession tend to be more regulated by the State. This is why different accounting standards around the world.


3. Knowing the accounting systems in developed countries and examples of developed countries, etc.
Accounting Systems in Some Developed Countries
Accounting standards are rules regulations (including laws and statutes as well) that govern the preparation of financial statements. Standard setting is the process of formulating or formulation of accounting standards. Accounting standards can be said is the result of standard setting, although not in accordance with standard practice.
Four (4) The reason why the practice is not in accordance with the standards, namely:
1.Di most countries the penalty for noncompliance with the official accounting tend to be weak and ineffective
2.Secara willingly allowed the company to report more information than is required
3.Beberapa countries allow companies to ignore the accounting standards if by doing operations and financial position will be better.
4.Di some countries accounting standards only apply to the separate financial statements and not to the consolidated report.
Auditing profession tends to regulate itself in countries that adhere to fair presentation (specifically British-influenced) and more auditors to conduct an objective consideration of the audit was to attest to the fair presentation of financial statements. Whereas in countries with a legal code, the accounting profession tend to be regulated by the state because the primary purpose of the audit is to ensure that the records and financial statements in accordance with the provisions of the law.
4. Identify similarities and differences in accounting systems in developed countries
Rules and accounting systems in the country – these countries have a system of difference equations and also, where in each  that is in use by these countries have advantages and disadvantages of each – one in the application of accounting systems in the country. Accounting standards and rules set out in certain countries is certainly not entirely the same as other countries. Role in determining standards of professional accountants and accounting rules were more common in those countries wherewith to enter the professional rules in the rules of the company, such as in Britain and the United States. Meanwhile, Christopher Nobes and Robert Parker (1995:11) explains the presence of seven factors that lead to important differences in the development of international accounting systems and practices. Such factors include the
(1) the legal system,
(2) the owner of the funds,
(3) the influence of the tax system
(4) stability of the accounting profession.
(5) inflation,
(6) accounting theory
(7) accidents of history
Regulation of the legal system of the company, including in this case is the accounting systems and procedures, much influenced by the legal system in force in a country. Some countries such as France, Italy, Germany, Spain, the Netherlands adhere to the legal system that is classified in the codified Roman law. Codified in law, the rules associated with the basic idea of ​​moral and justice, which tends to be a doctrine. Meanwhile, countries like Britain, the United States and British Commonwealth countries adopted the common law. In common law, the existence of an attempted answer to specific cases and not make a general formulation.
Sources of funding by source of funding, the company can be grouped into two. The first group is a company that gets most of the funds of the shareholders in the capital market (shareholders). The second group is a company that gets most of the funds of the bank, state or family funds. Generally, in countries with a majority of companies owned by shareholders but the shareholders do not have access to internal information, the more demands on the disclosure (disclosure), examination (audit) and get an unbiased (fair information).
The extent to which the tax system tax system may affect the accounting system is to look at tax laws determine the extent to which accounting measurement (accounting measurement).
In Germany, books must be equal to the tax according to commercial accounting. Whereas in many other countries such as Britain, the United States and also includes Indonesia, there are rules – rules that differ between taxation and commercial companies. The most obvious example of this is depreciation. Accounting profession and the organizations established as a forum for the profession it is different in every country, and results in the form of rules or standards are affected by the shape, authority and members of such bodies.
In some countries it was found that the separation of the accounting profession, as a tax expert or just as a corporate accountant. Members of a governing body of accounting standards may consist only of the public accountant or involve parties from business groups, industry, government and educators. The level of education and experience in the practical world as a condition of a person to become a member agency will also determine the quality of accounting standards and rules as the output produced. International Financial Reporting Standards (IFRS) is a standard framework and to interpretation adopted by the Accounting Standards Board (IASB). Many of the standards forming part of IFRS are known in advance, namely International Accounting Standards (IAS) issued between 1973 and 2001 by the International Accounting Standards Committee (IASC).
And on 1 April 2001 his responsibilities were taken over by the IASB to establish the International Accounting Standards. The later IASB continues to develop new standards called IFRS standards. IFRS are considered as “principles based” broad rule consists of: 1.Standar International Financial Reporting (IFRS) – standards issued after 2001. 2.Standar International Accounting (IAS) – standards issued before 2001. 3.Interpretasi derived from the interpretation of International Financial Reporting Committee (IFRIC) – issued after 2001. 4.Berdiri Interpretation Committee (SIC) – which was published prior to 2001. 5.Kerangka Presentation and Preparation of Financial Statements. IFRS are used in many parts of the world, including the European Union, Hong Kong, Australia, Malaysia, Pakistan, GCC countries, Russia, South Africa, Singapore, and Turkey. Since August 27, 2008, more than 113 countries around the world, including throughout Europe, currently require or permit IFRS reporting is based. About 85 countries require IFRS reporting for all, domestic companies are listed.
While in Indonesia itself will be adopted starting in 2012. And the adoption of IFRS in full, the financial statements prepared under GAAP does not require a significant reconciliation with the financial statements under IFRS. However, such changes would have an effect on many fields, especially in terms of education and business.
The existence and importance of accounting profession
Accounting profession that is more advanced in developed countries also make the accounting system used by more advanced than in countries that are implementing a centralized accounting system and uniform.
Accounting education and research
Accounting education and research carried out less well in countries that are developing. Professional development is also influenced by education and the quality of accounting research.
The accounting rules
Accounting standards and rules set out in certain countries is certainly not entirely the same as other countries. Role in determining standards of professional accountants and accounting rules were more common in those countries wherewith to enter the professional rules in the rules of the company, such as in Britain and the United States. Meanwhile, Christopher Nobes and Robert Parker (1995:11) explains the presence of seven factors that lead to important differences in the development of international accounting systems and practices.
Such factors include the
(1) the legal system,
(2) the owner of the funds,
(3) the influence of the tax system
(4) stability of the accounting profession.
(5) inflation,
(6) accounting theory
(7) accidents of history.
The legal system
Company regulations, including in this case is the accounting systems and procedures, much influenced by the legal system in force in a country. Some countries such as France, Italy, Germany, Spain, the Netherlands adhere to the legal system that is classified in the codified Roman law. Codified in law, the rules associated with the basic idea of ​​moral and justice, which tends to be a doctrine. Meanwhile, countries like Britain, the United States and British Commonwealth countries adopted the common law. In common law, tried to answer the existence of a specific case and does not create a legal formulation to determine how individuals and institutions interact. The western world has two basic orientations: the codification of law (civil) and common law (case). Mainly drawn from the legal codification of Roman law and because ode Napoleon. In countries which adhere to the legal system is Latin-codification of Roman law is a complete group that includes the provisions and procedures. Codification of accounting standards and procedures are fair and appropriate thing in there.
Sources of funding
By source of funding, the company can be grouped into two. The first group is a company that gets most of the funds of the shareholders in the capital market (shareholders). The second group is a company that gets most of the funds of the bank, state or family funds. Generally, in countries with a majority of companies owned by shareholders but the shareholders do not have access to internal information, the more demands on the disclosure (disclosure), examination (audit) and get an unbiased (fair information).
Tax system
Countries like France and Germany using the company’s financial statements as a basis for determining income tax debt, while countries like the United States and Britain to use financial statements have been adjusted by the tax code as a basis for determining the tax debt and delivered separately to the financial statements to shareholders . The extent to which the tax system may affect the accounting system is to look at tax laws determine the extent to which accounting measurement (accounting measurement). In Germany, books must be equal to the tax according to commercial accounting. Whereas in many other countries such as Britain, the United States and also includes Indonesia, there are rules – rules that differ between taxation and commercial companies. The most obvious example of this is depreciation. In most countries, tax legislation effectively determines accounting standards because the company should record revenue and expenses in their accounts to claim the tax purposes. In other words, financial and tax accounting tax is the same.
Accounting profession
Bodies were formed as a container of different professions in each country, and the results of the rules or standards are affected by the shape, authority and members of such bodies. In some countries it was found that the separation of the accounting profession, as a tax expert or just as a corporate accountant. Members of a governing body of accounting standards may consist only of the public accountant or involve parties from business groups, industry, government and educators. The level of education and experience in the practical world as a condition of a person to become a member agency will also determine the quality of accounting standards and rules as the output produced.

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Akuntansi Internasional part 2

PART II

Development of International Accounting and International Accounting Classification

Furthermore Choi et.al (1998: 38) revealed that the structural development of international accounting happens now includes serving as follows:
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 include:
1. Makorekonomis pattern
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.
There are three statements related to this pattern are:

1. Business enterprise is an essential unit in the structure of a country’s economy.
2. Business companies achieve their goals with the best possible way through its activities in close coordination with the policy-the policy of the national economy in its environment.
3. The public interest is well served if the company’s accounting business is closely linked with national policy.

Financial accounting-oriented makrekonomi may formally recognize the value of the discovery of mineral or oil content, calculate depreciation on productive equipment based on units of production, and allow the elimination of certain expenses quickly if this is of interest to regional or national economic development.

Factors that Influence Development of Accounting

Factors that influence the development of international accounting are:
1. 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 banks are 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.
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. When separate financial accounting and tax, tax rules sometimes require the application of certain accounting principles.
4. Inflation
Inflation causes the distortion of historical cost accounting and affect the propensity (tendency) of a country to apply the changes to the accounts of the company.
5. Political and economic ties
Political & Economic factors influence the development of international accounting because of government policy and the current economic situation in a country that can make the accounting difficult to develop.
6. Level of economic development
These factors influence the types of business transactions are conducted in an economy and determine what is most important.
7. Culture
Four dimensions of national culture, according to Hofstede: individualism, power distance, uncertainty avoidance, masculinity.
8. 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.

A. Factors that influence the development of international accounting there are eight, namely:
1. 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
Political & Economic factors influence the development of international accounting because of government policy and the current economic situation in a country that can make the accounting difficult to develop.
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 International Accounting Developments should be followed by the ability of an individual who is engaged in accounting to contribute to advancing accounting. International Accounting is a liaison between states. Eight factors that influence the development of international accounting should be well understood in order to create harmony between countries that trade, in Indonesia alone international accounting developments are very rapid, as has been accompanied by the relations between other countries are getting stronger.
B. Accounting Developments in the approach to market-oriented economy

Four approaches to the development of accounting in Western countries with market-oriented economic system:
1. Based approach to macroeconomic
Under this approach, obtained from the accounting practices and are designed to improve the national macroeconomic objectives. An example of Sweden.
2. Based approach mikroekonom
In this approach, accounting evolved from the principles of microeconomics. An example of the Netherlands.
1. Based on an independent approach
Under this approach, derived from accounting and business practices developed on an ad hoc, on the basis of considerations slowly, to try and error. For example the United Kingdom and the United States.
2. Based on a uniform approach
In this approach, standardized accounting and is used as a tool for administrative control by the central government. An example is the French state.
c. The dominant state in the Development of Accounting Practices
Some countries are dominant on the development of accounting include:

1. France
2. Japan
3. United States

In the progress the countries France and Japan are less dominant than the United States. It can be seen from the development of Japanese accounting in its development is currently based on existing IFRS.
D. Basic knowledge of Accounting Classification
Classification of the International Accounting basis of international accounting classification can be done in two ways, namely:
1. Deductive approach
Which identifies the relevant environmental factors and linking it with national accounting practices, an international grouping or pattern of development proposed.
2. Inductive Approach
Accounting practices were analyzed individually, the pattern of development or grouping identified and at the end of the explanation is made from the standpoint of economic, social, political and other factors.
International accounting classification can be done in two ways:
By considerations and empirically.
Accounting with Law General Legal Code. Accounting can also be classified in accordance with the legal system of a country.
1. Accounting in common law countries have oriented characteristics of the “fair presentation”, transparency and full disclosure as well as the separation between financial and tax accounting. Accounting for common law is often referred to as the “Anglo Saxon”. Accounting originated in England and then exported to countries such as Australia, Canada, Hong Kong, India, Malaysia, Pakistan and the United States.
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 accounting. Accounting code of law is often called the “continental”, and is mostly found in Continental European countries and their former colonies in Africa, Asia and America.

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Akuntansi Internasional

PROFESI AKUNTANSI LOKAL DAN INTERNASIONAL
Profesi adalah karya bidang keahlian yang terorganisasi, memerlukan proses pendidikan, latihan dan pengalaman guna memenuhi kebutuhan masyarakat terhadapKeahlian tersebut. Sedangkan profesi akuntan adalah semua bidang pekerjaan yang mempergunakan keahlian di bidang akuntansi, termasuk bidang pekerjaan akuntan publik, akuntan intern yang bekerja pada perusahaan industri, keuangan atau dagang, akuntan yang bekerja di pemerintah, dan akuntan sebagai pendidik.
Tujuan profesi akuntansi adalah memenuhi tanggung jawabnya dengan standar profesionalisme tertinggi, mencapai tingkat kinerja tertinggi dengan orientasi kepada kepentingan publik. Untuk mencapai tujuan tersebut terdapat 4 kebutuhan dasar yang harusterpenuhi :

1. Kredibilitas. Masyarakat membutuhkan kredibilitas informasi dan sistem informasi.
2. Profesionalisme. Diperluikan individu yang dengan jelas dapat diidentifikasikan oleh pemakai jasa Akuntan sebagai profesional di bidang akuntansi.
3. Kualitas jasa. Terdapatnya keyakinan bahwa semua jasa yang diperoleh dari akuntan diberikan dengan standar kinerja tinggi.
4. Kepercayaan. Pemakai jasa akuntan harus dapat merasa yakin bahwa terdapat kerangka etika profesioanal yang melandasi pemberian jasa oleh akuntan.

PROFESI AKUNTANSI DALAM NEGERI ( LOKAL ) :
1.    Akuntan Publik
Setiap profesi yang menyediakan jasanya kepada masyarakat memerlukan kepercayaan dari masyarakat yang dilayaninya. Kepercayaan masyarakat terhadap mutu jasa akuntan publik akan menjadi lebih tinggi, jika profesi tersebut menerapkan standar mutu tinggi terhadap pelaksanaan pekerjaan profesional yang dilakukan oleh anggota profesinya. Aturan Etika Kompartemen Akuntan Publik merupakan etika profesional bagi akuntan yang berpraktik sebagai akuntan publik Indonesia. Aturan Etika Kompartemen Akuntan Publik bersumber dari Prinsip Etika yang ditetapkan oleh Ikatan Akuntan Indonesia. Dalam konggresnya tahun 1973, Ikatan Akuntan Indonesia (IAI) untuk pertama kalinya menetapkan kode etik bagi profesi akuntan Indonesia, kemudian disempurnakan dalam konggres IAI tahun 1981, 1986,1994, dan terakhir tahun 1998. Etika profesional yang dikeluarkan oleh Ikatan Akuntan Indonesia dalam kongresnya tahun 1998 diberi nama Kode Etik Ikatan Akuntan Indonesia. Akuntan publik adalah akuntan yang berpraktik dalam kantor akuntan publik, yang menyediakan berbagai jenis jasa yang diatur dalam Standar Profesional Akuntan Publik, yaitu auditing, atestasi, akuntansi dan review, dan jasa konsultansi. Auditor independen adalah akuntan publik yang melaksanakan penugasan audit atas laporan keuangan historis yang menyediakan jasa audit atas dasar standar auditing yang tercantum dalam Standar Profesional Akuntan Publik. Kode Etik Ikatan Akuntan Indonesia dijabarkan ke dalam Etika Kompartemen Akuntan Publik untuk mengatur perilaku akuntan yang menjadi anggota IAI yang berpraktik dalam profesi akuntan publik.
2.    Akuntan Internal (Private Accountant)
Akuntan yang bekerja pada perusahaan atau lembaga tertentu dan bertugas khusus di bidang akuntansi intern perusahaan untuk membantu pengelola perusahaan.
3.    Akuntan Pemerintah (GovernmentAccountant)
Akuntan Pemerintah, adalah akuntan yang bekerja pada badan-badan pemerintah seperti di departemen, BPKP dan BPK, Direktorat Jenderal Pajak danlain-lain.
4.    Akuntan Manajemen (Managament Accountant)
Akuntan yang kegiatannya membantu pimpinan perusahaan baik untuk kegiatan sehari – hari atau perencanaan di masa yang akan datang.
5.    AkuntanPendidik
Akuntan yang bekerja sebagai pengajar pendidik dan keterampilan akuntansi
PROFESI AKUNTANSI LUAR NEGERI (INTERNASIONAL) :
1.    ProfesiCertifiedInternalAuditor(CIA)
Certified Internal Auditor (CIA) merupakan satu-satunya sertifikasi bidang internal audit (proses penilaian independen yang diadakan oleh sebuah organisasi untuk memastikan dan mengevaluasi apakah operasional organisasinya telah berjalan sesuai dengan rencana) yang diakui secara internasional. Sertifikasi yang dikeluarkan oleh The Institute of Internal Auditors (The IIA) ini telah berkembang dan dijadikan sebagai pengakuan atas integritas, professionalisme dan kompetensi pemegangnya di bidang internal audit. Orang yang memiliki sertfikasi CIA akan mendapat pengakuan yang tinggi karena sejauh ini program CIA terkenal memiliki standar pengetahuan, integritas dan profesionalisme yang tinggi pula. Ujian CIA dirancang untuk mengukur kompetensi teknis dasar dari internal auditor, antara lain pengetahuan teknis dan aplikasi dari pengetahuan tersebut, Pemahaman tanggung jawab professional,danlatihan terhadap keputusan yang baik.
2.    Profesi CPA
Ujian Certified Public Accountant (CPA) merupakan sistem penyaringan yang baku bagi mereka yang akan berpraktik sebagai akuntan publik maupun untuk mereka yang ingin mendapatkan sertifikasi atas kompetensi di bidang akuntansi dengan memperoleh gelar CPA (Certified Public Accountant). Khusus untuk profesi Akuntan Publik, departemen Keuangan Republik Indonesia telah mengeluarkan suatu ketentuan yang mensyaratkan bagi calon Akuntan Publik untuk lulus dari CPA. Keputusan tersebut telah dituangkan dalam Surat Keputusan Menteri Keuangan Republik Indonesia No. 43/KMK.017/1997 tanggal 27 Januari 1997 jo 470/KMK.017/1999 tanggal 4 Oktober 1999.
3.    Profesi CFA (Chartered Financial Analyst)
CFA adalah gelar profesi yang menunjukkan kompetensi dan integritas dalam bidang portfolio management dan investment analysis. CFA Program disponsori oleh CFA Institute, Charlottesvile, Virginia, USA. Ujian CFA pertama kali diadakan pada tahun 1963. Dalam perjalanan waktu, CFA telah menjadi gelar profesi yang diakui secara internasional, dan menjadi kriteria profesional, yang dipakai oleh dunia usaha dan kalangan investor, untuk para ahli yang berkecimpung di dalam bidang investasi. Para pemegang CFA sangat dibutuhkan dalam berbagai bidang antara lain dalam manajemen investasi, perusahaan konsultan, investment bankers, asuransi, dana pensiun, perbankan dan institusi keuangan lainnya. Permintaan akan penyandang CFA masih sangat tinggi dan semakin banyak pula institusi-institusi yang mensyaratkan para ahlinya untuk memiliki gelar CFA. Di Indonesia sendiri, para ahli yang bergelar CFA belum banyak jumlahnya padahal semakin banyak perusahaan yang mensyaratkan gelar ini sebagai jaminan kualitas dan tuntutan persaingan berskalaglobal.
Keunggulan CFA:
CFA merupakan gelar profesi dengan standar tertinggi untuk pengetahuan, integritas, dan profesionalisme di bidang investasi dan keuangan. Dengan pengakuan dunia untuk kualifikasi kemampuan ini akan memberikan imbalan yang tinggi sebagai penghargaan dari level yang dalam untuk pengetahuan yang dimiliki oleh pemegang gelar ini di bidang pasar keuangan. Pemegang CFA memiliki kemampuan untuk menganalisa sekuritas, obligasi, derivatif, dan rasio laporan keuangan secara efektif. Organisasi yang membutuhkan pemegang CFA adalah manajemen investasi, konsultan, bank, asuransi, pensiun, dan institusi keuangan lainnnya. Kebutuhan dari pemegang CFA sangat tinggi karena hanya ada kurang dari 60 orang di Indonesia yang memegang gelar profesi CFA. Di Indonesia, terdapat peningkatan perusahaan multinasional dan lokal yang membutuhkan calon pekerjanya yang memenuhi kualifikasi sebagai CFA.
ProgramCFA :
Dibagi menjadi 3(tiga) tingkatan, Setiap tingkat hanya boleh diambil setahun sekali, kecuali level 1 (pertengahan tahun) diselenggarakan 1 tahun dua kali (tengah dan akhir tahun), Pada setiap tingkat terdapat pelajaran Etika dan Standar Profesi.
4.    CISA
Certified Information System Auditors (CISA) adalah program sertifikasi yang menggabungkan antara dunia akuntansi dengan teknologi informasi. Program sertifikasi yang telah disponsori sejak tahun 1978 oleh ICASA ( Information System Audit anda Control Assotiation) ini telah menjadi standar pencapaian di bidang information System Audit, control and security professional yang sudah diterima secara global. Dengan makin meningkatnya penggunaan teknologi informasi di seluruh dunia, maka kesempatan kerja di dalam bidan ini semakin besar.

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HUBUNGAN KODE ETIK DENGAN NORMA PEMERIKSAAN AKUNTANSI

Pengertian kode etik dalam hal ini berarti sebagai “kitab hukum”, sedangakn etik berarti susunan moral yang terdiri atas nilai-nilai yang tersusun baik dalam suatu system yang bulat. Jadi kode etik pada hakikatnya adalah memuat aturan – aturan atau norma – norma yang dijadikan pedoman dalam melaksanakan tugas fungsi semua orang yang terlibat dalam suatu organisasi. Jadi nilai – nilai atau norma – norma itu terkandung didalam suatu system yang dijadikan pedoman untuk bertingkah laku ataupun dalam menjalankan tugas yang berlaku bagi sekelompok orang yang terlibat dalam kelompok profesi.
Kode Etik Profesi Akuntansi (sebelumnya disebut Aturan Etika Kompartemen Akuntan Publik) adalah aturan etika yang harus diterapkan oleh anggota Institut Akuntan Publik Indonesia atau IAPI (sebelumnya Ikatan Akuntan Indonesia – Kompartemen Akuntan Publik atau IAI-KAP) dan staf profesional (baik yang anggota IAPI maupun yang bukan anggota IAPI) yang bekerja pada satu Kantor Akuntan Publik (KAP).
Norma Pemeriksaan Akuntansi
Norma Pemeriksaan Akuntansi yang diterima oleh umu dalam kaitannya dengan pemeriksaan akuntansi terdiri atas tiga buah norma, yakni norma umum,norma pelaksanaan pemeriksaan, dan norma pelaporan.
Norma Umum
Norma Umum terdiri dari 3 norma, yaitu :
Pemeriksaan harus dilakukan oleh seseorang atau beberapa orang yang telah memiliki ketrampilan teknis yang cukup serta berkeahlian sebagai auditor.
Dalam segala suasana yang berkaitan dengan pemeriksaan, sikap netral yang independen harus senantiasa dipertahankan oleh auditor.
Auditor garus menggunakan kesungguhan dan ketrampilan profesionalnya dalam pelaksanaan pemeriksaan dan penyiapan laporan dokumen.
Norma Pelaksanaan Pemeriksaan
Pemeriksaan harus direncanakan sebaik – baiknya dan asisten auditor jika ada harus memperoleh pengawasan yang memadai. Pengetahuan yang cukup mengenai struktur pengendalian intern klien harus didapatkan untuk dipergunakan dalam perencanaan dan penentuan sifat, waktu, dan luas pengujian. Bukti yang kompeten dan cukup utnuk mendukung pendapat didapatkan dengan cara inspeksi, observasi, wawancara dan konfirmasi untuk digunakan sebagai dasar pernyataan pendapat atas laporan keuangan yang diperiksa.
Norma Pelaporan
Laporan akuntan harus mendukung pernyataan apakah laporan keuangan disajikan menurut prinsip akuntansi yang lazim.
Laporan akuntan harus mengidentifikasikan konsistensi penerapan prinsip akuntansi yang lazim pada periode berjalan dibandingkan dengan periode sebelumnya.
Pengungkapan informative dalam laporan keuangan dianggap cukup kecuali dinyatakan lain dalam laporan dokumen.
Laporan akuntan harus menyatakan suatu pendapat mengenai laporan keuangan secara keseluruhan, atau suatu penegasan bahwa pendapat tidak dapat diberikan. Jika pendapat tidak diberikan, maka alasan – alasannya harus dinyatakan.
Prinsip-prinsip etika tersebut, diantaranya :
Tanggung Jawab Profesi
Dalam melaksanakan tanggung jawabnya sebagai profesional, setiap anggota harus senantiasa menggunakan pertimbangan moral dan profesional dalam semua kegiatan yang dilakukannya. Sebagai profesional, anggota mempunyai peran penting dalam masyarakat. Anggota harus selalu bertanggungjawab untuk bekerja sama dengan sesama anggota untuk mengembangkan profesi akuntansi, memelihara kepercayaan masyarakat dan menjalankan tanggung jawab profesi dalam mengatur dirinya sendiri.
Kepentingan Publik
Dalam kepetingan public setiap anggota berkewajiban untuk senantiasa bertindak dalam kerangka pelayanan kepada publik, menghormati kepercayaan publik, dan menunjukan komitmen atas profesionalisme, yang merupakan satu ciri utama dari suatu profesi adalah penerimaan tanggung jawab kepada publik. Ketergantungan ini menimbulkan tanggung jawab akuntan terhadap kepentingan publik.
Integritas
Integritas didalam kode etik akuntan Indonesia merupakan hal yang penting karena integritas adalah suatu elemen karakter yang mendasari timbulnya pengakuan profesional. Integritas merupakan kualitas yang melandasi kepercayaan publik dan merupakan patokan (benchmark) bagi anggota dalam menguji keputusan yang diambilnya. Integritas juga mengharuskan seorang anggota untuk, bersikap yang jujur dan berterus terang tanpa harus mengorbankan rahasia penerima jasa. Pelayanan dan kepercayaan publik tidak boleh dikalahkan oleh keuntungan pribadi. Integritas dapat menerima kesalahan yang tidak disengaja dan perbedaan pendapat yang jujur, tetapi tidak menerima kecurangan atau peniadaan prinsip.
Obyektivitas
Setiap anggota harus menjaga obyektivitasnya dan bebas dari benturan kepentingan dalam pemenuhan kewajiban profesionalnya. Karena Obyektivitasnya adalah suatu kualitas yang memberikan nilai atas jasa yang diberikan anggota.
Kompetensi dan Kehati-hatian Profesional
Dalam Setiap anggota harus melaksanakan jasa profesionalnya dengan berhati-hati, kompetensi dan ketekunan, serta mempunyai kewajiban untuk mempertahankan pengetahuan dan ketrampilan profesional pada tingkat yang diperlukan untuk memastikan bahwa klien atau pemberi kerja memperoleh manfaat dari jasa profesional dan teknik yang paling mutakhir. Karena dalam hal ini mengandung arti bahwa anggota mempunyai kewajiban untuk melaksanakan jasa profesional dengan sebaik-baiknya sesuai dengan kemampuannya, demi kepentingan pengguna jasa dan konsisten dengan tanggung jawab profesi kepada public.
Kerahasiaan
Dalam setiap anggota harus menghormati kerahasiaan informasi yang diperoleh selama melakukan jasa profesional dan tidak boleh memakai atau mengungkapkan informasi tersebut tanpa persetujuan, kecuali bila ada hak atau kewajiban profesional atau hukum untuk mengungkapkannya. Kepentingan umum dan profesi menuntut bahwa standar profesi yang berhubungan dengan kerahasiaan didefinisikan bahwa terdapat panduan mengenai sifat sifat dan luas kewajiban kerahasiaan serta mengenai berbagai keadaan di mana informasi yang diperoleh selama melakukan jasa profesional dapat atau perlu diungkapkan.
Perilaku Profesional
Dalam Setiap anggota harus berperilaku yang konsisten dengan reputasi profesi yang baik dan menjauhi tindakan yang dapat mendiskreditkan profesi. Kewajiban untuk menjauhi tingkah laku yang dapat mendiskreditkan profesi harus dipenuhi oleh anggota sebagai perwujudan tanggung jawabnya kepada penerima jasa, pihak ketiga, anggota yang lain, staf, pemberi kerja dan masyarakat umum.
Standar Teknis
Dalam setiap anggota pada standar teknis ini harus melaksanakan jasa profesionalnya sesuai dengan standar teknis dan standar profesional yang relevan. Sesuai dengan keahliannya dan dengan berhati-hati, anggota mempunyai kewajiban untuk melaksanakan penugasan dari penerima jasa selama penugasan tersebut sejalan dengan prinsip integritas dan obyektivitas. Standar teknis dan standar professional yang harus ditaati anggota adalah standar yang dikeluarkan oleh Ikatan Akuntan Indonesia
Kedelapan prinsip tersebut sangat mendukung pelaksanaan kerja pemeriksaan seorang akuntan karena sesuai dengan norma pemeriksaan akuntansi, dimana didalam norma itu mencakup; tanggungjawab akuntan public, unsur-unsur norma pemeriksaan akuntan yang antara lain meliputi : pengkajian dan penilaian pengendalian intern, bahan penjelasan dan pembuktian informatif, serta pembahasan mengenai peristiwa kemudian, laporan khusus dan berkas penerimaan.

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