INTERNATIONAL ACCOUNTING ACCOUNTING DIFFERENCES WITH OTHER

INTERNATIONAL ACCOUNTING ACCOUNTING DIFFERENCES WITH OTHER

Along with business and financial markets that have a lot to internationalization, as well as differences in international accounting is becoming more important from the standpoint of international financial statement analysis. International accounting differences bring a number of problems from the standpoint of financial analysis.
A. 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:
A. 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.
United States

In the United States, practicing accountants called Certified Public Accountant (CPA), Certified Internal Auditor (CIA) and Certified Management Accountant (CMA). Differences in the type of certification is in terms of the types of services offered, although perhaps only one person has more than one certificate. Additionally, much accounting work is done by someone without the certification but under the supervision of a certified accountant.

CPA certification issued in the state of domicile is concerned a license to offer auditing services to the public, although most firms also menawakan accounting services, taxation, litigation support and financial consultancy. Requirements for certified CPA vary among states, but the Uniform Certified Public Accountant examination is required in every state. This exam is made and inspected by the American Institute of Certified Public Accountants.

CIA certification issued by the Institute of Internal Auditors (IIA), which is given to candidates who pass the four-part test. CIA mostly provides his services to the employer rather than directly to the public.

CMA certification awarded by the Institute of Management Accountants (IMA), which is given to candidates who passed the exams in four parts and meet certain practical experience on the terms of the provisions of IMA. CMA mostly provides his services to the employer rather than directly to the public. CMA also offers his services to the public, but with a smaller scope than the CPA.

Bureau of Labor Statistics (Bureau of Labor Statistics) from U.S. Department of Labor (United States Department of Labor) estimates there are about one million people who work as accountants and auditors in the United States.

INTERNATIONAL ACCOUNTING FIELDS ARE DIVIDED INTO THREE BROAD

In the international accounting is divided into three broad areas, Accounting includes several extensive process include:
A. Measurement
Can 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. Disclosure
The 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. Auditing
The process by which the special accounting professionals (auditors) perform attestation (testing) on ​​reliability of measurement and communication processes.

International accounting history is history. Berikuk chronology shows that accounting has had great success in his ability to be applied from one state to another state while on the other hand allow the emergence of teres-going development in the field of theory and practice throughout dunla. For starters, double-entry system (doithfe-entru Lookkreping), which is generally regarded as the beginning penciptaaa accounting as we know so far, starting from the city negah negam-century Italian Pida-14 and 15.

Perkernbangannya driven by growth in international trade in Northern Italy during the late Middle Ages and the government's desire to find ways to impose taxes on commercial transactions. "Bookkeeping Italy" then berilih to Germany to help the traders in the days of Fugger and Hanseatik Group. At the same time, the Dutch philosopher hitvis sharpen how to calculate the periodic income and government officials in France discovered the advantages of implementing a whole system of planning and accountability in government.

Development of the United Kingdom created the inevitable need for the commercial interests of England to manage and control the enterprise in the colonies, and for the recording of their colonial enterprise which will be reviewed and verified. These needs led to the growth of mi tshun public accounting in the 1850's and the public accounting profession is organized in Scotland and England during the 1870s. Paktik memyebar laggris extensive accounting not only throughout North America, but also throughout the British Commonwealth who have the time.

Development of the record books in pairs

These developments include the following:

A. Around the 16th century there are some changes in accounting techniques. Noteworthy changes were introduced special journals for recording a variety of different types of transactions.
2. In the 16th century and 17 the evolution of a practice of periodic financial statements. In addition again, in the 17th century and 18th-century evolution of a personification of all accounts and transactions, as an attempt to rationalize the rules of debit and credit accounts used on the uncertain relationship and abstract.
3. Application of paired recording system is also extended to other types of organizations.
4. The 17th century also noted the use of the accounts separate inventories for different types of goods.
5. Starting with the East India Company in the 17th century and then followed by the development of the company before, along with the industrial revolution, the accounting gain a better status, as indicated by the need for cost accounting, and the credence given to the concepts of sustainability , periodicity, and accruals.
6. The methods for recording fixed assets have evolved in the 18th century.
7. Until the beginning of the 19th century, the depreciation for fixed assets accounted for only on unsold merchandise.
8. Cost accounting emerged in the 19th century as a result of the industrial revolution.
9. In the last half of the 19th century occurred in the development of accounting techniques to be paid in advance payments and accruals, as a way to allow for the calculation of periodic profit.
10. End of the 19th century and the 20th place in the development of the finance reports.
11. In the 20th century occurred in the development of methods of accounting for complex issues, ranging from the calculation of earnings per share, accounting for a business calculation, accounting for inflation, long-term leases and pensions, to the important problem of accounting for new products from financial engineering (financial engineering).

THE ROLE OF ACCOUNTING AND BUSINESS IN GLOBAL CAPITAL MARKETS

Other factors also contributed the growing importance of international accounting is the phenomenon of global competition. Determination of reference (benchmarking), to compare the performance of an act of the parties with a reasonable standard is nothing new, but the standard of comparison used is now beyond national borders is nothing new.

According to the regulations in the United States, to be listed on the NYSE Market issuers need to do the following.
A. The registration process
2. Submit financial statements. They can use U.S. GAAP, IAS or GAAP of each country but each have additional requirements include:
a. Fill out Form 20-7 for the annual report
b. To reconcile net earnings and equity to conform with U.S. GAAP
c. Provide disclosure in accordance U.S. GAAP
d. Submit quarterly reports that are not necessary in the audit

As we know that the capital market watchdog aims to protect public shareholders, especially individual investors (individual investors). While the Private Placement or Institutional Investor market is usually considered to have the ability to examine the feasibility of an investment sehinggan not need to specifically get government protection.

In global capital markets transactions known QIB (Qualified Institutional Buyers). This grouping is intended to limit the institutional market participants. This group must be at least menginvest of U.S. $ 250 quadrillion. For this investor group typically does not require much disclosure (disclosure) the financial statements.

In addition known as ADR or American Depositary Receipts. This method is intended to convert the shares into the domestic market from outside the United States making it more compatible with economic conditions and investors. For example, the stock value of $ 10,000 can be broken down to be worth U.S. $ 100 per share or U.S. $ 0.10 seballiknya can be made to U.S. $ 100.00 per share. In addition there is another ADR GDR (Global Depository Receipts) that the nature and meaning as to facilitate the investors to invest in a variety of markets, companies or countries.
This situation is all the trigger and accelerate the process towards a global market and global accounting standards.

source:

http://id.wikipedia.org/wiki/Akuntansi

http://helda1988.blogspot.com/2011/05/sejarah-perkembangan-dan-pengertian.html
http://eriahandaresta.blogspot.com/2011/03/akuntansi-internasional-minggu-1.html