INTERNATIONAL ACCOUNTING HARMONIZATION
A. Harmonization And Standardization Of
Differences In Accounting Standards Applicable.
Harmonization of international encouragement with divided
over who represents the state agencies and bodies representing the accounting profession
or other related parties. International impetus in international accounting
harmonization, among others:
1. International Accounting Standards
Boards (IASB)
2. United Nation
3. The Organization for Economic
Co-operation and Development (OECD)
4. The European Union
Harmonization can also be interpreted as a group of
countries that agree on an accounting standard that is similar, but requires
the implementation does not follow the standard should be disclosed and
reconciled with mutually agreed standards.
B.
Pro And Cons Of Harmonization
International Accounting Standards
Until the present time, western countries are still heavily
promoting the need for harmonization of international accounting standards. The
main purpose of these efforts is to improve the comparability (comparability)
of financial reporting, especially for multinational companies operating in
various parts of the world. The main reason the presentation of financial
statements that meet the standards for the survival of the company itself in
the future, both in terms of internal and external users
The resulting accounting standards of Anglo-Saxon model of
accounting that recognizes adopts the time value of money, which produces the
concept of interest. Meanwhile, Islam explicitly reject the use of the time
value of money in carrying out economic activities.
Another
issue to consider is the issue relating to the valuation of the assets. In the
Anglo-Saxon accounting, valuation of an asset, especially inventories and
securities are generally based on the concept of conservatism.
The third problem is the application of the concept of
sustainability (going concern). Use of this concept possible use historical
cost valuation of assets based on the measurement to demonstrate objectivity.
C.
Reconciliation
And Mutual Recognition (Reciprocal) Differences In Accounting Standards
Two other approaches are proposed as a possible solution is
used to solve problems related to the content of cross-border financial
statements is reconciliation, and mutual recognition (which is also
referred to as "feedback" / reciprocity).
Through reconciliation, foreign companies can set financial
reporting using their own country accounting standards. Recognition occurs when
the parties together outside the home country regulator of financial report
foreign companies which are based on the principles of homestate.
D.
International
Organizations That Promote Major Accounting Harmonization
Six organizations have become a major player in the determination
of the international accounting standards and in promoting international
harmonization of accounting:
1. International Accounting Standards
Board (IASB)
2. Commission of the European Union
(EU)
3. International Organization of the
Capital Market Commission (IOSCO)
4. International Federation of
Accountants (IFAC)
5. International Standards of
Accounting and Reporting (ISAR)
6. Accounting Standards Working Group
in the Organization of Economic Cooperation and Development (OECD Working
Group).
E.
New
Approach And Relate It To The Integration Of European Financial Markets.
One goal is to achieve the integration of EU financial
markets of Europe. To achieve this goal, the EC has introduced a directive and
take a huge initiative to achieve a single market for:
-
Acquisition
of capital in the EU
-
Create
a common legal framework for securities and derivatives markets are integrated
Achieve a single set of accounting standards for
companies whose shares are listed
Sources:
1) Choi, Frederick D.S.,
and Gerhard D. Mueller, 2005., The International Accounting - Book 1, Issue 5.,
Salemba Four, Jakarta.
2) Choi, Frederick D.S.,
and Gerhard D. Mueller, 2005., The International Accounting - Book 2, Issue 5.,
Salemba Four, Jakarta.
Tidak ada komentar:
Posting Komentar