exposure draft

advertisement
Overview Mata Ajaran
Partisipasi aktif peserta didik.



Presentasi untuk menyajikan kasus untuk
kemudian didiskusikan bersama di kelas.
Jumlah anggota per kelompok berkisar 2-4
orang.
Setiap kelompok menyajikan dan menulis
makalah kasus minimal 2 kali.
Overview Mata Ajaran
Makalah kasus:

menganalisis suatu studi kasus aplikasi
standar akuntansi yang berlaku atau isu yang
timbul dalam penyusunan laporan keuangan
di Indonesia
Overview Mata Ajaran
Bahan bacaan:

Standar akuntansi dari organisasi profesi,
peraturan perundangan yang berlaku,
makalah dari berbagai seminar, buku teks,
hingga jurnal profesi akuntan publik
Overview Mata Ajaran
Evaluasi Hasil Belajar






Partisipasi dan Kehadiran
Penulisan Makalah Kelompok
Penyajian Makalah Kelompok
Ujian Tengah Semester
Ujian Akhir Semester
Kuis
15%
10%
10%
25%
25%
15%
Overview Mata Ajaran
Penilaian Partisipasi dan Kehadiran



Pertanyaan dan komentar – Dinilai berdasarkan
frekuensi dan kualitas pertanyaan/komentar dalam
diskusi kelas (Range nilai 0-100, bobot 60%)
Kehadiran (Range nilai 0-100, bobot 40%). Satu kali
ketidakhadiran akan mengurangi nilai kehadiran 25%.
Jadi, kalau tidak hadir 4 x, maka nilai Kehadiran
adalah 0%).
Faktor Pengurang:
 Kedisiplinan hadir tepat waktu. Satu kali keterlambatan hadir
(yaitu hadir lebih dari 15 menit dari jadwal dimulainya kelas)
akan dinilai -5%.
 Perilaku disruptif di kelas, seperti mengobrol, baca koran,
browsing internet, sms, dan lain-lain. Perilaku yang disruptif
dinilai -5% per pertemuan.
Overview Mata Ajaran
 Penilaian makalah kasus kelompok
 Penilaian Penyajian Makalah Kasus
Kelompok




Kejelasan/Dapat dipahami dalam menyampaikan
makalah (30%)
Penggunaan bahasa yang baik dan benar (25%)
Bahasa tubuh (body language), seperti intonasi
suara yang keras, tidak membaca, menghadap ke
peserta, dan lain-lain (25%)
Penggunaan media (seperti Powerpoint, dan
seterusnya) yang informatif (20%)
Overview
The product of accounting is information
Information is complex because:


The absence of perfect or true accounting
concepts and standards  Individuals will not
be unanimous in their reaction to even the
same information
It does more than affect individual decisions
Overview
The challenge for financial accountants is
to survive and prosper in a complex
environment characterized by conflicting
pressures from different groups with an
interest in financial reporting
Information Asymmetry
Information asymmetry: some parties to
business transactions may have an
information advantage over others
Two major types of information asymmetry


Adverse selection
Moral hazard
Information Asymmetry (Cont’d)
Adverse selection



One or more parties to a business
transaction, or potential transaction, have an
information advantage over other parties
This may affect the ability of investors to make
good investment decisions
Financial accounting and reporting as a
mechanism to control the adverse selection
problem by timely and credible conversion of
inside information into outside information
Information Asymmetry (Cont’d)
Moral Hazard



One or more parties to a business
transaction, or potential transaction, can
observe their actions in fulfillment of the
transaction but other parties cannot.
Occurs because of the separation of
ownership and control
Accounting net income as a measure of
managerial performance
Standard Setting
Conflicting preferences of investors and
managers  standard setting
The setting of accounting concepts and
standards requires negotiation and
compromise

Their application must be enforced
The International Accounting
Standards Board (IASB)
Established in 2001

Its predecessor, International Accounting
Standards Committee (IASC), was created in
1973
Basic objective: to develop a single set of
high quality, understandable, and
enforceable global accounting standards
IASB Structure
The International Accounting
Standards Board (IASB)
 The IASB (International Accounting Standards Board) is
an independent standard-setting board, appointed and
overseen by a geographically and professionally diverse
group of Trustees of the IASC Foundation who are
accountable to the public interest.
 It is supported by an external advisory council (SAC) and
an interpretations committee (IFRIC) to offer guidance
where divergence in practice occurs.
 The Trustees appoint the 14 Board members, who
come from nine countries and have a variety of
functional backgrounds.
 Standards are developed by a board of 14 individuals
 A majority of nine of 14 votes is required to pass new
standards, a requirement called super-majority voting
Trustees of the IASC Foundation
 The 22 Trustees of the IASC Foundation are
responsible for its governance and oversight,
including its funding.
 They promote the work of the International Accounting
Standards Board (IASB) and the rigorous application of
IFRSs.
 However, the Trustees are not involved in any technical
matters relating to the standards. That responsibility
rests solely with the IASB.
 Trustees are appointed for a renewable term of three
years.
 Six of the Trustees must be selected from the
Asia/Oceania region, six from Europe, six from North
America, and four from any region
International Financial Reporting
Interpretations Committee (IFRIC)
Its mandate is to review on a timely basis
widespread accounting issues that have
arisen within the context of current
International Financial Reporting
Standards (IFRSs).
The work of the IFRIC is aimed at
reaching consensus on the appropriate
accounting treatment (IFRIC
Interpretations) and providing
authoritative guidance on those issues.
Standards Advisory Council (SAC)
The Standards Advisory Council (SAC)
is a forum for the International
Accounting Standards Board (IASB) to
consult a wide range of representatives
from user groups, preparers, financial
analysts, academics, auditors,
regulators and professional accounting
bodies that are affected by and
interested in the IASB's work.
Six Stages of Standard Setting
Stage 1: Setting the agenda
Stage 2: Project planning
Stage 3: Development and publication of a
discussion paper
Stage 4: Development and publication of
an exposure draft
Stage 5: Development and publication of
an IFRS
Stage 6: Procedures after an IFRS is
issued
Stage 1: Setting the agenda
The relevance to users of the information
involved and the reliability of information
that could be provided
Existing guidance available
The possibility of increasing convergence
The quality of the standards to be
developed
Resource constraints.
Stage 2: Project planning
Decides whether to conduct the project
alone, or jointly with another standardsetter.
The IASB may establish a working group
at this stage.
Stage 3: Development and
publication of a discussion paper
A discussion paper is not a mandatory step
The IASB normally publishes a discussion paper
as its first publication on any major new topic as
a vehicle to explain the issue and solicit early
comment from constituents.
A discussion paper includes a comprehensive
overview of the issue, possible approaches in
addressing the issue, the preliminary views of its
authors or the IASB, and an invitation to
comment.
Stage 4: Development and
publication of an exposure draft
Publication of an exposure draft is a
mandatory step in due process
The development of an exposure draft
begins with the IASB considering issues
on the basis of staff research and
recommendations, as well as comments
received on any discussion paper, and
suggestions made by the SAC, working
groups and accounting standard-setters
and arising from public education
sessions.
Stage 5: Development and
publication of an IFRS
After the due process is completed, all
outstanding issues are resolved, and the
IASB members have balloted in favour of
publication, the IFRS is issued.
Stage 6: Procedures after an IFRS is
issued
After an IFRS is issued, the staff and the
IASB members hold regular meetings with
interested parties, including other
standard-setting bodies, to help
understand unanticipated issues related to
the practical implementation and potential
impact of its proposals.
The IASC Foundation also fosters
educational activities to ensure
consistency in the application of IFRSs.
The International Accounting
Standards Board (IASB)
In designing standards, the IASB follows due
process
The process usually involves:





Discussion of a paper outlining the principal issues
Preparation of an Exposure Draft that incorporates
the tentative decisions taken by the Board – during
which process many of these are re-debated,
sometimes several times
Publication of the Exposure Draft
Analysis of comments received on the Exposure Draft
Debate and issue of final standard, accompanied by
application guidance and a document setting out the
Basis for Conclusion
The International Accounting
Standards Board (IASB)
The basic due process can be modified in
different circumstances


If the project is controversial or particularly
difficult, IASB may issue a discussion paper
before proceeding to Exposure Draft stage
IASB may also hold some form of public
consultation during the process
Accounting Convergence
Convergence of international and national
accounting standards involves the gradual
elimination of differences through the
cooperative efforts of the IASB, national
standard setters, and other groups
seeking best solutions to accounting and
reporting issues
Accounting Convergence
Convergence vs Harmonization


Harmonization was generally taken to mean
the elimination of differences between existing
accounting standards
While convergence might also involve coming
up with a new accounting treatment not in any
current standard
Accounting Convergence
Advantages of international convergence:



High-quality financial reporting standards that
are used consistently around the world
improve the efficiency with which capital is
allocated  reducing the cost of capital
Investors can make better investment
decision
Lower costs for issuers
Accounting Convergence
Criticisms of International Standards

Too simple a solution for complex problem
 Doubt that international standards could be flexible
enough to handle differences in national
backgrounds, traditions, and economic
environments
 Large international accounting service firms are
using international accounting standards as a tool
with which to expand their markets
 May create “standards overload”
 International standards are not suitable for small
and medium-sized companies, particularly unlisted
ones with no public accountability
IASB & FASB
2002: IASB and FASB sign the ”Norwalk
Agreement” committing them to
convergence of international and US
accounting standards
2005: FASB and IASB sign Memorandum
of Understanding setting out milestones
the two boards must reach in order to
demonstrate acceptable level of
convergence between US GAAP and
IFRS to SEC and EU Commission
Bagan Organisasi IAI
Dewan Konsultatif Standar
Akuntansi Keuangan (DKSAK)
Bertugas memberikan konsultasi kepada DSAK
berupa pandangan mengenai materi, arah, serta
skala prioritas pilihan PSAK/IPSAK.
Anggota terdiri dari anggota IAI dan bukan
anggota IAI yang mewakili secara luas pemakai
dan pengguna jasa profesi akuntansi serta
pihak-pihak yang berkepentingan dengan
pengembangan Standar Akuntansi Keuangan.
Anggota minimum 5 orang diangkat oleh
Pengurus Pusat untuk masa kerja maksimum 4
tahun dan dapat diangkat kembali maksimum
satu kali.
Kepengurusan DKSAK
Ketua: Herwidayatmo
Anggota:
1. Arif Arryman
2. Bambang Setiawan
3. Bambang Subianto
4. Erry Firmansyah
5. Henry B. Lumban Toruan
6. I Gusti Agung Made Rai
7. Indarto
8. Istini T. Siddharta
9. Jhonny Darmawan
10. Jusuf Halim
11. Kuswono Soeseno
12. Sandiago S. Uno
13. Siti Ch. Fadjijah
14. Wahyu Tumakaka
Dewan Standar Akuntansi Keuangan
Bagian dari Organisasi IAI yang mempunyai
otonomi untuk menyusun dan mengesahkan
PSAK dan IPSAK.
Pemilihan anggota DSAK diutamakan
berdasarkan kompetensi, pengalaman, dan
komitmen pada misi IAI serta komitmen untuk
mencurahkan waktu dan perhatian pada tugas
sebagai anggota DSAK.
Masa kerja anggota maksimum 4 tahun dan
dapat diangkat kembali maksimum satu kali.
Dewan Standar Akuntansi Keuangan
Jumlah anggota DSAK untuk masa bakti 20062010 sebanyak tiga belas (13) orang, yang
mewakili berbagai unsur: akuntan publik,
akuntan manajemen, akademisi, Direktorat
Jenderal Pajak, Bank Indonesia, Bapepam,
auditor pemerintah.
Kesinambungan keanggotaan DSAK selalu
dipelihara.
Ketua DSAK diangkat dari dan oleh anggota
terpilih.
Dibentuk badan pekerja purna waktu (full time
management and staffs) sebagai tim teknis
dalam penyusunan PSAK maupun IPSAK.
Tugas utama anggota DSAK
Menentukan materi serta skala prioritas
pilihan topik untuk dijadikan agenda kerja.
Mempertimbangkan masukan dari DKSAK
mengenai hal-hal yang berkaitan dengan
pengembangan standar akuntansi
keuangan.
Memberikan arahan serta supervisi badan
pekerja teknis, membahas hasil kerja
badan pekerja teknis.
Kepengurusan DSAK
Ketua:
M. Jusuf Wibisana (PwC/Unbraw)
Anggota:
1. Agus Edy Siregar (BI)
2. Dudi M. Kurniawan (PwC)
3. Etty Retno Wulandari, Dr. (Bapepam LK)
4. Hekinus Manao, Dr. (Depkeu)
5. Jan Hoesada (Jan Ladiman & Rekan)
6. Jogijanto Hartono, Prof. Dr. (UGM)
7. Jumadi (KPMG)
8. Meidyah Indreswari, Dr. (BPKP)
9. Merliyana Syamsul (Deloitte)
10. Riza Noor Karim (Ditjen Pajak)
11. Roy ImanWirahardja (EY)
12. Sidharta Utama, Dr. (UI)
Tahapan Due Process
Identifikasi isu untuk dikembangkan
menjadi Pernyataan Standar Akuntansi
Keuangan (PSAK)
Konsultasikan isu dengan Dewan
Konsultatif Standar Akuntansi Keuangan
(DKSAK)
Membentuk tim kecil dalam Dewan
Standar Akuntansi Keuangan (DSAK)
Melakukan riset terbatas
Melakukan penulisan awal konsep draft
Tahapan Due Process
Pembahasan konsep draft dalam DSAK
Peluncuran exposure draft dan pengedarannya
Pelaksanaan public hearing dan atau limited
hearing
Pembahasan tanggapan atas exposure draft
dan masukan public hearing atau limited hearing
Persetujuan exposure draft PSAK menjadi
PSAK
Optimal: final checking oleh purnawaktu IAI
Sosialisasi standar
Kepengurusan Komite Akuntansi
Syariah (KAS)
Ketua : M. Jusuf Wibisana (DSAK-IAI)
Anggota:
1. Agus Edy Siregar (DSAK-IAI)
2. Amin Musa (AASI)
3. Cecep M. Hakim (BI)
4. Dewi Astuti (BI)
5. Hanawijaya (Asbisindo)
6. Hasanudin (DSN-MUI)
7. Ikhwan A. Basri (DSN-MUI)
8. Kanny Hidaya (DSN-MUI)
9. M. Touriq (Bapepam LK)
10. Setiawan Budi Utomo, Dr. (DSN-MUI)
11. Wiroso (Konsultan)
Rerangka Prinsip Akuntansi
Konvensional yang Berlaku Umum
Rerangka Prinsip Akuntansi Konvensional
yang Berlaku Umum
Tingkat 3
Landasan
Operasional atau
Landasan Praktik
Tingkat 2
Tingkat 1
Landasan Konseptual
Praktik, Konvensional, dan Kebiasaan
Pelaporan yang Sehat
SAK Internasional/
Negara Lain
PSAK
Buletin Teknis
Buku Teks/Ajar, Simpulan Riset,
Artikel, Pendapat Ahli
Peraturan
Pemerintah untuk
Industri (Regulasi)
Pedoman atau
Praktik Akuntansi
Industri
ISAK
Kerangka Dasar Penyusunan dan Penyajian Laporan Keuangan
Rerangka Prinsip Akuntansi Syariah
yang Berlaku Umum
Rerangka Prinsip Akuntansi Syariah
yang Berlaku Umum
Tingkat 3
Landasan
Operasional atau
Landasan Praktik
Tingkat 2
Tingkat 1
Landasan Konseptual
Praktik, Konvensional dan
Kebiasaan Pelaporan yang Sehat,
sesuai dengan Syariah
SAK Internasional/
Negara Lain yang
sesuai Syariah
Buku Teks/Ajar, Simpulan Riset,
Artikel, Pendapat Ahli
Buletin Teknis
PSAK dan ISAK Syariah
Peraturan
Pemerintah untuk
Industri (Regulasi)
PSAK dan ISAK Umum yang Sesuai
dengan Syariah
Kerangka Dasar Penyusunan dan Penyajian Laporan Keuangan
Fatwa Syariah yang Berlaku Umum
Landasan Syariah
Pedoman atau
Praktik Akuntansi
Industri (Kajian
Asosiasi Syariah)
Alhadits
Alquran
High Quality Accounting Standards
 Improves financial reporting by enhancing financial
statement users’ ability to make investment and credit
decisions
 Should provide recognition and measurement guidance
that seeks to replicate the “economics” of the underlying
transaction or event
 Should be written in a clear, understandable manner,
and their principles should be operational to apply
 Narrows alternative accounting choices and improves
comparability
 Consistent with conceptual framework
 Disclosures should be limited to key significant data
 Benefits of implementation outweigh the cost to comply
The Future of Accounting and
Disclosure
The value and worth of financial reporting
lies in its usefulness to users
We have to develop a sufficiently dynamic
and reliable analytical framework for
anticipating and responding to changes in
the business world
The Future of Accounting and
Disclosure (Cont’d)
4 broad accounting and disclosure issues
that may be critically important to the
future of financial reporting:




Recognition and measurement of the benefits
and obligations of a business
The timeliness of financial reporting
The concept of the firm
The distribution channel and medium
The Future of Accounting and
Disclosure (Cont’d)
Recognition and measurement


Most of the assets in balance sheet were
“hard” and carried at historical cost
Concerns:
 There are significant number of assets that are
poorly measured through historical cost accounting
 There are certain assets that are not recognized at
all

Disclose such measurements in a location
outside the traditional financial statements
The Future of Accounting and
Disclosure (Cont’d)
Timeliness of financial reporting


The rapid acceleration of events significantly
affecting a firm has started to make our
system of annual audits and quarterly reports
somewhat obsolete
For example: more limited or abbreviated
financial statements be distributed to the
market on more a frequent bases (for
example, monthly)
The Future of Accounting and
Disclosure (Cont’d)
Concept of the Firm


The concept of what we call the firm is also
changing
Financial reporting must be examined at the
conceptual level
The Future of Accounting and
Disclosure (Cont’d)
Information distribution channels



The information we distribute has been
aggregated corporate information
Some end-users today might benefit from
access to disaggregated data
This information might be provided through
direct on-line access
The Future of Accounting and
Disclosure (Cont’d)
Implications and potential outcomes



One outcome of such inactivity might be a
stratification of accounting information
available to various types of end-users
Because of existing regulatory and accounting
constraints, public companies that wish to
engage in innovative business structures and
affiliations may find it harder to do so and may
discouraged from undertaking such ventures
More positive outcome: for accounting
profession (and financial managers) to take
steps now to explore the issues discussed
here
Download