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Akuntansi Internasional
Laporan dan
Pengungkapan
Perkembangan Pengungkapan.
Perbedaan nasional dalam
pengungkapan umumnya didorong oleh perbedaan dalam tata kelola perusahaan dan
keuangan.Di Amerika Serikat, Inggris dan negara-negara Anglo Amerika lainnya,
pasar ekuitas menyediakan kebanyakan pendanaan yang dibutuhkan perusahaan
sehingga menjadi sangat maju. Di pasar-pasar tersebut, kepemilikan cenderung
tersebar luas di antara banyak pemegang saham dan perlindungan terhadap
investor sangat ditekankan. Investor institusional memainkan peranan yang
semakin penting di negara-negara ini, menuntut pengembalian keuangan dan nilai
pemegang saham yang meningkat.
Di negara-negara lainnya (seperti
Prancis, Jerman, Jepang, dan berbagai negara dengan pasar yang baru muncul),
pemegang saham tetap terkonsentrasi dan bank secara tradisional telah menjadi
sumber keuangan utama perusahaan. Pengungkapan publik kurang berkembang dalam
semua pasar ini dan perbedaan yang besar dalam bobot informasi yang diberikan
dengan besar pemegang saham dan kreditor yang berhubungan dengan publik mungkin
diizinkan.
Konsep – konsep pengungkapan
Konsep – konsep pengungkapan
meliputi:
a) Pengungkapan cukup adalah pengungkapan yang
di wajibkan oleh standar akuntansi yangberlaku.
b) Pengungkapan wajar merupakan konsep yang
bersifat lebih positif, pengungkapan yang wajar merupakan tujuan etis agar
dapat memberikan perlakuan yang sama dan bersifat umum bagi semua pemakai
laporan keuangan.
c) Pengungkapan Sukarela yaitu dalam hal ini
Beberapa studi menunjukkan bahwa manajer memiliki dorongan untuk mengungkapkan
informasi mengenai kinerja perusahaan saat ini dan saat mendatang secara
sukarela. Dalam laporan terakhir, Badan Standar Akuntansi Keuangan (FASB)
menjelaskan sebuah proyek FASB mengenai pelaporan bisnis yang mendukung
pandangan bahwa perusahaan akan mendapatkan manfaat pasar modal dengan
meningkatkan pengungkapan sukarelanya. Laporan ini berisi tentang bagaimana
perusahaan dapat menggambarkan dan menjelaskan potensi investasinya kepada para
investor.Sejumlah aturan, seperti aturan akuntansi dan pengungkapan, dan
pengesahan oleh pihak ketiga (seperti auditing) dapat memperbaiki berfungsinya
pasar. Aturan akuntansi mencoba mengurangi kemampuan manjer dalam mencatat
transaksi-transaksi ekonomi dengan carayang tidak mewakili kepentingan terbaik
pemegang saham. Aturan pengungkapan menetapkan ketentuan-ketentuan untuk
memastikan bahwa para pemegang saham menerima informasi yang tepat waktu,
lengkap dan akurat.Keuntungan dari pengungkapan tersebut mungkin menyangkut
biaya transaksi yang lebih rendah dalam perdagangan sekuritas perusahaan, bunga
yang lebih tinggi dari analisis keuangan dan investor, meningkatkan likuiditas
saham dan biaya modal yang lebih rendah.
Kebutuhan Pengaturan Pengungkapan
Untuk melindungi investor,
sebagaian besar bursa sekuritas menentukan laporan dan kebutuhan pengungkapan
pada perusahaan domestik dan asing yang mencari akses untuk pasar mereka. Bursa
saham dan pengaturan pemerintah secara membutuhkan perusahaan asing yang
terdaftar untuk melengkapi semua informasi keuangan dan non-keuangan yang
hampir sama seperti yang dibutuhkan untuk perusahaan domestik.
Bursa saham dan pengaturan
pemerintah secara umum membutuhkan perusahaan asing yang terdaftar untuk
melengkapi semua informasi keuangan dan non-keuangan yang hampir sama seperti
yang dibutuhkan untuk perusahaan domestik. Perusahaan asing yang terdaftar
secara umum memiliki fleksibilitas yang berhubungan dengan prinsip akuntansi
yang mereka gunakan dan untuk sejumlah pengungkapan. Di kebanyakan negara,
perusahaan asing yang terdaftar harus menyimpan dengan informasi bursa saham
yang dibuat publik, mendistribusikan kepada pemegang saham, atau dicatat dengan
pengaturan di pasar domestik.
Proteksi pemegang saham
bermacam-macam diseluruh negara. Negara Anglo Amerika seperti Kanada, Inggris
Raya, dan Amerika Serikat memberikan investor proteksi ekstensif dan ketat.
Sebaliknya, proteksi pemegang saham kurang memberikan tekanan di bagian lain
dunia.
Frost dan Lang membahas dua objek
investor berorientasi pasar: pelindungan investor dan kualitas pasar.
a) Proteksi Investor yaitu dalam hal ini
Investor dijamin dengan informasi dengan informasi dan dilindungi dengan
pelaksanaan dan pengawasan peraturan pasar. Kecurangan mencegah adanya
penawaran publik, perdangan, pemilihan, dan sekuritas penawaran. Informasi
keuangan dan non keuangan yang bisa dibandingkan telah ditemukan sehingga
investor bisa membandingkan perusahaan area industri dan negara.
b) Kualitas Pasar yaitu dalam hal Pasar adalah
adil, tersusun, efesien, dan bebas dari penyalahgunaan dan perbuatan jahat.
Keadilan pasar dipromosikan dengan akses informasi yang wajar dan kesempatan
berdagang. Efesien pasar berkembang dengan meningkatkan likuiditas dan
mengurangi biaya tansaksi. Kualitas pasar ditandai dengan kepercayaan investor
dan mereka memfasilitasi pembentukan modal.
Fost dan lang juga mengulas empat
prinsip pada investor yang berorientasi pasar yang harus dijalankan.
a) Keefektifan biaya yaitu dalam hal ini
Regulasi biaya pasar sebaiknya dibandingkan dengan keuntungan sekuritasnya.
b) Fleksibilitas dan kebebasab pasar yaitu
dalam hal ini Regulasi tidak seharusnya menghalangi kompetisi dan evolusi
pasar.
c) Laporan keuangan transparan dan pngungkapan
menyuluruh
d) Perlakuan setara perusahaan domestik dan
asing
Seperti Frost dan Lang catat,
proteksi investor mewajibkan bahwa investor menerima informasi secara berkala
dan diproteksi dengan pengawasan dan pelaksanaan. Pengungkapan harus memadai
supaya investor membandingkan perusahaan area industri dan negara. Lebih jauh
lagi, pengungkapan yang menyeluruh dan dapat dipercaya akan meningkatkan
kepercayaan investor, di mana meningkatkan likuiditas, mengurangi biaya
transaksi, akan meningkatkan kualitas pasar secara keseluruhan.
Pembahasan Laporan Keuangan SEC Amerika
Serikat
SEC secara umum mewajibkan
pendaftaran asing untuk melengkapi informasi keuangan yang pada hakikatnya sama
dengan yangdibutuhkan perusahaan domestik. akan tetapi, laporan keuangan
pendaftaran tidak harus disiapkan menurut GAAP Amerika Serikat jika mereka disajikan
sesuai dengan prinsip lemabaga akuntansi secara menyeluruh dan dilengkapi
dengan rekonsiliasi kuantitatif dengan pendapatan bersih GAAP Amerika Serikat,
ekuitas pemegang saham, dan pendpatan per saham, jika secar material berbeda.
Beberapa pengamat menyatakan bawha syarat laporan keuangan SEC bagi perusahaan
asing menghalangi mereka dari pembuatan sekuritas mereka yang ada di Amerika
serikat.
B.
Praktik Pelaporan dan Pengungkapan
Praktik pengungkapan laporan
tahunan memperlihatkan respons manajer terhadap kebutuhan pengaturan
pengungkapan dan insentif mereka untuk menyediakan informasi laporan keuangan
pengguna secara sukarela. Di belahan dunia, pengungkapan bermakna kecil dan
pengawasan serta pelaksanaan sukarl\ela, karena manajer perusahaan tidak akan
patuh dengan peraturan pengungkapan jika kepatuhan lebih menguras biaya
daripada biaya non-kepatuhan yang diharapkan. Pada bagian ini akan meliputi
tentang:
Pengungkapan Informasi Progresif
Pengungkapan informasi adalah
pertimbangan tinggi yang relevan di dalam kesetaraan pasar dunia. EU’s Fourth
Directivemenyatakan bahwa laporan tahunan seharusnya menyertakan sebuah
indikasi pengembangan perusahaan di masa depan.Dalam hal ini, istilah informasi
progresifmeliputi:
a) perkiraan pendapatan, laba (rugi), arus
kas, pengeluaran modal, dan hal-hal keuangan lainnya;
b) tujian informasi mengenai kinerja dan posisi
ekonomi di masa depan yang tidak menentu daripada perkiraan menyangkut proyek,
periode fiskal dan proyeksi jumlah;
c) laporan dan program dan sasaran manajemen
untuk usaha masa depan.
Ketiga kategori informasi
progresif ini menjadi lebih umum sebagaimana kita berangkat dari (a) perkiraan,
(b) informasi potensial (c) sasaran dan tujuan. Tujuan utama investor dan
analisis tersebut adalah menilai pendapatan dan arus kas di masa depan,
sangatlah masuk akal untuk menyakan apakah perusahaan menyediakan perkiraan
informasi internal mereka sendiri seperti itu. Praktiknya tidaklah sangat biasa,
khususnya perkiraan tepat, dan terarah. Alasannya adalah perkiraan bisa menjadi
tidak bisa diandalkan karena mereka menggabungkan subjek-subjek yang
memperkirakan peristiwa di masa depan yang belum pasti. Di Amerika serikat,
perkara hukum yang potensial adalah alat utama menyediakan perkiraan keuangan.
Akan tetapi, seperti yang bisa ditebak, format yang lebih samar dari informasi
progresif lebih umum ada. Sebuah penelitian pada dua ratus perusahaan besar di
prancis, jerman, jepang, inggris Raya, dan Amerika menemukan bahwa sebagian
besar dari mereka mengungkap informasi sasaran dan tujuan manajemen.
Pengungkapan Segmen
Investor dan analisis menuntut
informasi hasil perusahaan industri dan segmen geografi usaha dan keuangan
signifikan dan berkembang. Sebagai contoh, analis keuangan di Amerika Serikat
secara konsisten meminta data laporan keuangan yang tidak banyak dipisahkan
daripada yang ada sekarang. International Financial Reporting Standars (IFRS)
mencakup laporan keuangansegmen yang sangat lengkap, seperti halnya standar
akuntansi di berbagai negara. Pengungkapan segmen lebih membantu pengguna
laporan keuangan untuk memahami bagaimana bagian-bagian perusahaan menata
semuanya. Setelah itu, alur produk dan wilayah di dunia memiliki resiko yang beragam,
pengembalian, dan kesempatan pemisahan jalur usaha dan area geografis harus
membuat penilaian yang lebih terpapar tentang keseluruhan perusahaan.
Pelaporan Pertanggungjawaban Sosial
Dengan terus meningkat perusahaan
dituntut untuk memberikan jawaban secara luas mengenai “pemegang saham”
pegawai, pelanggan, penyedian, pemerintah, kelompok aktivitas, dan masyarakat
umum yang sangat berpengaruh daripada kemampuan perusahaan untuk menciptakan
nilai ekonomi. Laporan pertanggungjawaban sosial mengacu pada pengukuran dan
komunikasi informasi tentang pengaruh perusahaan terhadap kemakmuran pegawai,
komunitas sosial dan lingkungan. Hal ini mencerminkan sebuah kepercayaan bahwa
perusahaan bergantung pada pemegang saham dalam laporan tahunan kinerja terhadap
lingkungan dan sosial mereka seperti halnya laporan keuangan yang mereka
berikan kepada pemegang saham. Lebih penting lagi, seperti yang di umpamakan
“apa yang bisa diukur, maka bisa diatur” laporan pertanggungjawabaan sosial
adalah sebuah cara untuk menunjukkan sebagai perusahaan penduduk. “ketahanan”
melaporkan bahwa kesatuan ekonomi, sosial, kinerja lingkungan, ditunjukkan
sebagai “tiga dasar pelapor”. Pelaporan pertanggungjawaban sosial mengupas
masalahnya sendiri. Di samping itu, pelaporan pertanggungjawaban sosial menjadi
model di antara semua perusahaan besar multinasional.
Pengungkapan Khusus Bagi Pengguna Laporan
Keuangan Non-domestik Dan Prinsip Akuntansi Yang Diguanakan
Laporan tahunan bisa meliputi
pengungkapan khusus untuk mengakomodasi pengguna laporan keuangan non-domestik.
Pengungkapan tersebut meliputi :
a) laporan ulang yang mudah tentang informasi
keuangan ke dalam mata uang asing;
b) pembahasan perbedaan antara prinsip
akuntansi lainnya;
c) posisi dan laporan keuangan utama dan
beberapa ketetapan standar akuntansi yang kedua;
d) sebuah laporan keuangan lengkap disiapkan
yang berhubungan dengan ketetapan prinsip akuntansi kedua.
Di negara dimana bahasa inggris
adalah bukan bahasa utama, banyak perusahaan yang menerjemahkan seluruh laporan
keuangan mereka ke dalam bahasa inggris daripada bahasa negaranya. Juga,
beberapa perusahaan mempersiapkan laporan keuangan yang sesuai dengan standar
akuntansi lebih bisa diterima daripada standar domestik (utamanya IFRS atau
GAAP AS), atau yang sesuai dengan standar domestik dan sesuai dengan ketetapan
prinsip akuntansi yang kedua.
Pengungkapan Pengelolah Perusahaan
Pengelolah perusahaan berhubungan
denga sarana internal di mana perusahaan dijalankan atau dikendalikan
tanggungjawab, akuntabilitas, hubungan di antara pemegang saham, anggota
direksi, dan manajer yang disusun supaya mencapai sasaran perusahaan. Dengan
kata lain, pengelolaan perusahaan adalah sistem di mana perusahaan diarahkan
dan dikendalikan. Di antara pengelolaan perusahaan adalah hak dan perlakuan
pemegang saham, pertanggungjawaban direksi, pengungkapan dan transparansi, dan
peran pemegang saham.
Dallas memberikan sebuah rancangan
kerja untuk memahami dan menilai pengelolaan perusahaan di sebuah negara. Empat
komponen dari rancangan kerjanya adalah :
a) Infrastruktur pasarmencakup pola
kepemilikan, keleluasaan di mana perusahaan terdaftar di masyarakat, hak
kepemilikan, dan pasar untuk pengendalian perusahaan.
b) Lingkuan hukummeliputi sistem hukum dan hak
pemegang saham dengan jelas diterangkan dan konsisten dan dikuatkan secara
efektif.
c) Lingkungan peraturanhampir mendekati
lingkungan hukum. Agen pengaturan bertanggung jawab atas pengaturan pasar
supaya sesuai dengan hukum yang ada.
Mereka memastikan aturan dan efisiensi pasar dan memperkuat ketentuan
pengungkapan publik
d) Infrasturktur informasibersinggungandengan
standar akuntansi yang digunakan dan apakah hasil laporan keuangan akurat,
lengkap, dan tepat waktu. Ini juga mencajup struktur profesi auditing dan
standar profesional untuk praktik auditing dan standar profesional untuk
praktik auditing dan kemandirian. Pengungkapan sesuai jadwal bisa diandalkan,
informasi yang tersedian untuk publik membuat pemegang saham mampu menilai
keefektifan pengelolah peusahaan dan jalan usahanya dan performa keuangannya.
Amerika Seikat, Inggris, dan
Australia adalah negara maju yang membutuhkan daftar perusahaan untuk membuat
pengungkapan pengelolaan perusahaan dalam laporan tahunan mereka. Eropa
sekarang ini telah mengubah Fourth dan Seven Directivesupaya mewajibkan
perusahaan dagang Eropa Go publicuntuk memberikan laporan pengelolaan
perusahaan. Organization for Economic Cooperation and Development (OECD)
mengeluarkan prinsip pengelolaanperusahaanyang tela direvisi tahun 2004,
memaparkan enam prinsip dasar pengelolaan perusahaan. Pengungkapan dan
transparansi dikupas pada prinsip kelima.Prinsip kelima OECD dalam pengungkapan
dan transparansi pengelolaan perusahaan yaitu
Kerangka kerja pengelolaan perusahaan harus memastikan bahwa
pengungkapan akurat dan tepat waktu dibuat untuk semua permasalahan menyangkut
perusahaan, termasuk kondisi keuangan, performa, kepemilikan, dan pengelolaan
perusahaan.
a) Pengungkapan harus mencakup, tetapi tidak
terbatas pada meteri informasi:
1) Hasil keuangan dan usaha perusahaan.
2) Sasaran perusahaan.
3) Kepemilikan saham mayoritas dan hak voting.
4) Kebijakan pembayaran gaji bagi anggota
direksi dan eksekutif utama dan informasi mengenai anggota direksi, termasuk
kelayakan mereka, proses pemilihan, kepemimpinan di perusahaan lainnya, dan
apakan mereka dianggap independen oleh direksi.
5) Tramsaksi dan pihak terkait.
6) Faktor risiko terduga.
7) Isu-isu menyangkut pegawai dan pemegang
saham lainnya.
8) Struktur dan kebijakan pemerintah,
khususnya, isi dari hukum kebijakan perusahaan dan proses dimana hal ini
diterapkan.
b) Informasi harus disiapkan dan diungkapkan
sesuai dengan standar kualitas tinggi akuntansi dan keuangan dan pengungkapan
non-finansial.
c) Audit tahunan harus dilaksanakan oleh pihak
independen, kompeten, dan auditor bermutu dalam rangka untuk memberikan sebuah
sasaran eksternal dan asuransi untuk direksi dan pemegang saham di mana laporan
keuangan memperlihatkan kedudukan dan performa keuangan dengan wajar dari
peruhaan dalam semua aspek.
d) Auditor dari pihak luar sebaiknya bisa
bertanggung jawab kepada pemegang saham dan perkewajiban perusahaan untuk
bertindak sebagai profesional dalam melakukan audit.
e) Saluran untuk menyebarkan informasi harus
seimbang, tepat waktu, dan dapat diakses oleh pengguna dengan biaya efisien.
f) Rancangan kerja pengelolaan perusahaan
harus dilengkapi dengan sebuah pendekatan efektif yang mengarah dan mengangkat
ketentuan analisis atau nasihat dari analis, broker,agen rating, dan lainnya,
yang sesuai dengan keputusan investor, bebas dari permasalahan bunga yang
mungkin membahayakan integritas analisis atau nasihat mereka.
Pengungkapan dan Laporan Bisnis di Internet
World Wibe Webterus digunakan
sebagai sebuah ruangan penyebaran informasi, dengan media cetak yang selalu
mendapat peran kedua. Penyebaran informasi secara elektronik sering kali murah
meriah dibandingkan dengan media cetak dan menawarkan komunikasi instan. Web
juga bisa digunakan untuk meyebarkan informasi interaktif yang tidak serupa
dengan media cetak. Keamanan berdagang menggunakan internet telah meningkatkan
permintaan untuk bisnis dan pelaporan keuangan melalui Web. Investor sering
menggunakan Web untuk berdagang dan mengambil keputusan investasi modal, dan
menggunakan Web sebagai sebuah sarana informasi penting.
Bursa saham, pengatur, dan
perusahaan publik terus menggunakan inernet untuk memberikan pengguna laporan
keuangan dengan akses cepat untuk informasi perusahaan. Contoh, berita
pertukaran saham sekarang lebih banyak menggunakan jasa elektronik untuk
memberikan akses cepat bagi semua pengumuman dari perusahaan yang terdaftar.
Semua layanan ini memberikan keuntungan penting bagi perusahaan dan investor
yang terdaftar: semua pengumuman perusahaan yang terdaftar, tidak hanya untuk
semua yang dianggap “berita berharga” oleh pers keuangan, diluncurkan kepada
masyarakat dalam satu situs.
Semua pengungkapan dan pelaporan
ini dipilih karena atas dasar kepentingan pengguna laporan keuangan.
C.
Pengungkapan Laporan Tahunan Di Negara-Negara Pasar Berkembang
Pengungkapan laporan tahunan
perusahaan di negara-negara pasar berkembang secara umum kurang ekstensif dan
kurang kredibel dibandingkan dengan pelaporan perusahaan di negara-negara maju.
Sebagai contoh, pengungkapan yang tidak cukup dan yang menyesatkan dan
perlindungan konsumen yang terabaikan disebut-sebut sebagai penyebab krisis
keuangan Asia Timur di tahun 1997.
Tingkat pengungkapan yang rendah
di negara-negara pasar berkembang tersebut konsisten dengan sistem tata kelola
perusahaan dan keuangan di negara-negara itu. Pasar ekuitas tidak terlalu
berkembang, bank dan pihak internal seperti kelompok keluarga menyalurkan
kebanyakan kebutuhan pendanaan dan secara umum tidak terlalu banyak adanya
kebutuhan akan pengungkapan publik yang kredibel dan tepat waktu, bila
dibandingkan dengan perekonomian yang lebih maju.
Akan tetapi, investor menuntut
informasi tentang perusahaan yang bias dipercaya dan tepat waktu di negara
berkembang dengan pasar yang baru muncul. Regulator telah merespons tuntutan
ini dengan membuat ketentuan
pengungkapan yang lebih kuat, dengan meningkatkan pengawasan dan usaha
pelaksanaan mereka.
Bukti empiris praktik
pengungkapan di negara-negara dengan pasar yang baru muncul masih terbatas
sampai sekarang. Akan tetapi, seperti halnya dengan semua pasar modal negara
ini dan perusahaan yang terdaftar ingin meningkatkan kehadiran mereka, peneliti
mengembangkan bukti-bukti yang lebih banyak untuk semua kegiatan ini dan
bagaimana mereka berbeda dari semua negara berkembang.
D.
Implikasi Bagi Para Pengguna Laporan Keuangan Dan Para Manajer
Para manajer dari banyak
perusahaan terus-menerus sangat dipengaruhi oleh biaya pengungkapan informasi
yang bersifat wajib, tingkat pengungkapan wajib maupun sukarela semakin
meningkat di seluruh dunia. Manajer di negara-negara yang secara tradisional
memiliki pengungkapan rendah harus mempertimbangkan apakah menerapkan kebijakan
peningkatan pengungkapan dapat memberikan manfaat dalam jumlah yang signifikan
bagi perusahaan mereka. Lagipula, para manajer yang memutuskan untuk memberikan
pengungkapan yang lebih banyak dalam bidang-bidang yang dipandang penting oleh
para investor dan analis keuangan, seperti pengungkapan segmen dan
rekonsiliasi, dapat memperoleh keunggulan kompetitif dari perusahaan lain yang
memiliki kebijakan pengungkapan yang ketat.
Konvergensi
Akuntansi
Akhir-akhir ini IFRS menjadi hot issue
bagi akuntansi, top manajemen perusahaan-perusahaan yang sudah Go Public dan
para akademisi serta para auditor yang melakukan auditing terhadap laporan
keuangan perusahaan-perusahaan yang sudah menerapkan IFRS tersebut dalam
pelaporan keuangannya.
Di Indonesia sendiri standar akuntansi yang berlaku dan berterima umum adalah
PSAK (Pernyataan Standar Akuntansi Keuangan). Standar akuntansi yang ada di
Indonesia saat ini belum mengadopsi penuh standar akuntansi international
(IFRS). Standar akuntansi yang digunakan di Indonesia masih mengacu pada US
GAAP (United Stated Generally Accepted Accounting Standard), namun dalam
beberapa pasal sudah dilakukan harmonisasi terhadap IFRS.
Seiring dengan perkembangan kegiatan ekonomi dan globalisasi menuntut adanya
suatau standard akuntansi internasional yang dapat diterima dan dapat dipahami
secara internasional, oleh karena itu muncullah suatu standard internasional
yaitu IFRS. Dimana tujuan dari konvergensi ini adalah agar informasi keuangan
yang dihasilkan dapat diperbandingkan, mempermudah dalam melakukan analisis
kompetitif dan hubungan baik dengan pelanggan, supplier, investor dan kreditor.
Indonesia sebagai negara yang terus berkembang dan banyaknya transaksi
internasional yang dilakukan mengharuskan Indonesia untuk melakukan konvergensi
terhadap IFRS.
Dengan dibuatnya satu standar akuntansi yang sama dan digunakan oleh seluruh
negara akan semakin mendorong investor untuk masuk dalam pasar modal seluruh
dunia, hal ini dikarenakan mutu dari laporan keuangan yang dihasilkan memiliki
kredibilitas tinggi, pengungkapan yang lebih luas, informasi keuangan yang
relevan dan akurat serta dapat diperbandingkan dan satu lagi yang sangat
penting adalah dapat berterima secara internasional dan mudah untuk dipahami.
Namun dalam prosesnya terdapat beberapa kendala yang dihadapi dalam melakukan
konvergensi ke IFRS ini. Mulai dari perbedaan budaya tiap negara, perbedaaan
sistem pemerintahan, perbedaan kepentingan antara perusahaan serta tingginya
biaya yang dibutuhkan untuk melakukan perubahan prinsip akuntansi.
Konvergensi PSAK ke IFRS di Indonesia sendiri akan berlaku efektif dan
full adoption pada tahun 2012. Lalu muncul pertanyaan apakah Indonesia sudah
siap untuk mengadopsi IFRS?, Kenapa harus dilakukan konvergensi ke IFRS? Dan
apa kesulitasn yang dihadapi terhadap adopsi IFRS ini?
PEMBAHASAN
1. IFRS (International
Financial Reporting Standard)
IFRS merupakan standar akuntansi internasional
yang diterbitkan oleh International Accounting Standard Board (IASB).
Standar akuntansi ini disusun oleh empat organisasi utama dunia yaitu Badan
Standar Akuntansi Internasional (IASB), Komisi Masyarakat Eropa (EC),
Organisasi Internasional Pasar Modal (IOSOC), dan Federasi Akuntansi
Internasional (IFAC).
Natawidnyana (2008) menyatakan bahwa sebagian
besar standar yang menjadi bagian dari IFRS sebelumnya merupakan International
Accounting Standard (IAS). Kemudian IASB mengadopsi seluruh IAS dan
melanjutkan pengembangan standar yang dilakukan.
Secara keseluruhan IFRS mencakup:
a. International
Financial Reporting Standard (IFRS) – standar yang diterbitkan setelah
tahun 2001
b. International
Accounting Standard (IAS) – standar yang diterbitkan sebelum tahun 2001
c. Interpretations
yang diterbitkan oleh International Financial Reporting Interpretations
Committee (IFRIC) – setelah tahun 2001
d. Interpretations
yang diterbitkan oleh Standing Interpretations Committe (SIC) –
sebelum tahun 2001
Secara garis besar standar akuntansi mengatur 4
hal pokok:
a.
Definisi laporan keuangan atau informasi lain yang berkaitan
Definisi digunakan dalam standar akuntansi untuk
menentukan apakah transaksi tertentu harus dicatat dan dikelompokkan ke dalam
aktiva, hutang, modal, pendapatan dan biaya.
b.
Pengukuran dan penilaian
Pengukuran dan penilaian digunakan untuk
menentukan nilai dari suatu elemen laporan keuangan baik pada saat terjadinya
transaksi keuangan maupun pada saat penyajian laporan keuangan.
c.
Pengakuan
Kriteria ini digunakan untuk mengakui elemen
laporan keuangan sehingga elemen tersebut dapat disajikan dalam laporan keuangan
d.
Penyajian dan pengungkapan laporan keuangan
Peyajian dan pengungkapan laporan keuangan
digunakan menentukan jenis informasi dan bagaimana informasi tersebut disajikan
dan diungkapkan dalam laporan keuangan.
2.
Konvergensi IFRS di Indonesia
a. Perkembangan
Standar Akuntansi di Indonesia
1. Tahun
1973 – 1984: Ikatan Akuntansi Indonesia (IAI) membentuk komite untuk
menetapkan standar-standar akuntansi, yang kemudian dikenal dengan
Prinsip-Prinsip Akuntansi Indonesia (PAI).
2. Tahun
1984 – 1994: komite PAI melakukan revisi mendasar PAI 1973 dan
kemudian menerbitkan Prinsip Akuntansi Indonesia PAI 1994. Menjelang akhir
tahun 1994 Komite Standar Akuntansi memulai suatu revisi besar atas prinsip –
prinsip akuntansi Indonesia dengan mengumumkan pernyataan – pernyataan standar
akutansi tambahan dan menerbitkan interpretasi atas standar tersebut. Revisi
ini menghasilkan 35 peryataan standar akuntansi keuangan, yang sebagian besar
adalah hasil harmonisasi dengan IAS yang dikeluarkan oleh IASB.
3. Tahun
1994 – 2004: perubahan patokan standar keuangan dari US GAAP ke IFRS.
Hal ini telah menjadi kebijakan Komite Standar Akuntansi Keuangan untuk
menggunakan International Accounting Standards sebagai dasar membangun
standar keuangan Indonesia. Pada tahun 1995, IAI melakukan revisi besar untuk
menerapkan standar – standar akuntansi baru, IAS mendominasi isi dari standar
ini selain US GAAP dan dibuat sendiri.
4. Tahun
2006 – 2008: dilakukan konvergensi IFRS tahap 1. Sejak tahun 1995 sampai
dengan tahun 2010, Standar Akuntansi Keuangan (SAK) terus direvisi secara
berkesinambungan, proses revisi ini dilakukan sebanyak enam kali, yakni 1
Oktober 1995, 1 Juni 1999, 1 April 2002, 1 Oktober 2004, 1 Juni 2006, 1
September 2007 dan 1 Juli 2009. Sampai dengan 2008 jumlah IFRS yang diadopsi
baru 10 standar.
Roadmap konvergensi IFRS di Indonesia
3. KENDALA
KONVERGENSI PSAK KE DALAM IFRS
a. Dewan standar
kauntansi yang kurang sumberdaya
b. IFRS berganti terlalu cepat sehingga
ketika masih dalam proses adopsi satu standar IFRS dilakukan, pihak IASB sudah
dalam proses mengganti IFRS tersebut
c. Kendala bahasa, karena stiap standar
IFRS harus diterjemahkan ke dalam bahasa Indonesia dan seringkali ini tidaklah
mudah
d. Infrastruktur
profesi akuntansi yang belum siap
e. Kesiapan
perguruan tinggi dan akuntan pendidik untuk berganti acuan ke IFRS
f.
Support pemerintah terhadap issue konvergensi
4. MANFAAT
KONVERGENSI IFRS
a. Memudahkan
pemahaman atas laporan keuangan dengan Standar Akuntansi Keuangan yang dikenal
secara internasional
b. Meningkatkan
arus investasi dlobal melalui transparansi
c. Menurunkan biaya modal
dengan membuka peluang fund raising melalui pasar modal secara global
d. Menciptakan
efisiensi penyusunan laporan keuangan
e. Meningkatkan kualitas laporan
keuangan, dengan antara lain, mengurangi kesempatan untuk melakukan earning
management
Disclosure
. REPORTING AND DISCLOSURE
A. DISCLOSURE ACCOUNTING PRACTICES influenced by
differences GOVERNANCE FINANCE COMPANY IN ANY STATE
DEVELOPMENT OF DISCLOSURE
Development of the disclosure system is closely
associated with the development of accounting systems. Disclosure standards and
practices are influenced by financial resources, legal systems, political and
economic ties, the level of economic development, education, culture, and other
influences. National differences in disclosure is driven largely by differences
in corporate governance and finance. In the United States, Britain and other
Anglo-American countries, equity markets provided most of the funding that the
company needs to be very advanced. In these markets, ownership tends to spread
widely among many shareholders and investor protection is emphasized.
Institutional investors play an increasingly important role in these countries,
demanding financial returns and shareholder value meningkat.Di most other countries (like France,
Japan and some emerging market countries), share ownership is still highly
concentrated and bank (or the owner and family) has traditionally been a major
source of corporate financing. These banks, and the other in obtaining more
information about the company’s financial position and activities.
VOLUNTARY DISCLOSURE
Some studies show that managers have incentives
to reveal information about the company’s current performance and future time
voluntarily. In a recent report, the Financial Accounting Standards Board
(FASB) describes a FASB project on business reporting which supports the view
that the company will benefit from the capital market by increasing voluntary
disclosure. The report outlines how companies can describe and explain its
investment potential to investors. A number of rules, such as accounting and
disclosure rules, and approval by a third party (such as auditing) can improve
the functioning of the market. Accounting rules to try to reduce the ability of
manjer in record economic transactions in ways that do not represent the best
interests of shareholders. Disclosure rules establish provisions to ensure that
shareholders receive timely, complete and accurate.
MANDATORY DISCLOSURE PROVISIONS
Protection of shareholders differ from country to
country. Anglo-American countries such as Canada, Britain and the United States
to provide protection to shareholders who are widely and strictly enforced. In
contrast, the protection to the shareholders received less attention in some
other countries like China for example, prohibiting insider trading (trading
that involves the inner circle), while weak law enforcement make the
enforcement of these rules are almost non-existent.
REPORTING AND DISCLOSURE PRACTICES
Disclosure rules are very different around the
world in some ways like the statement of cash flows and changes in equity,
related party transactions, segment reporting, the fair value of financial
assets and liabilities and earnings per share. In this section attention is
focused on:
A. Disclosure of information to see the future “information look to the future” that includes:
(A) the forecast revenue, profit and loss, profit and loss per share (EPS), capital expenditures, and other financial post
A. Disclosure of information to see the future “information look to the future” that includes:
(A) the forecast revenue, profit and loss, profit and loss per share (EPS), capital expenditures, and other financial post
(B) information regarding the performance or
prospective future economic position that is not too sure when compared with
the projected post, fiscal period, and the projected number of
(C) statements of management plans and objectives of future operations.
Most companies in each country presents a disclosure of information about plans and goals manjemen. Conversely fewer companies that disclose prophecy, from the lowest two companies in Japan and the highest 31 companies in the United States. Most forecasts in the U.S. and Germany regarding capital expenditure, not profits and sales.
(C) statements of management plans and objectives of future operations.
Most companies in each country presents a disclosure of information about plans and goals manjemen. Conversely fewer companies that disclose prophecy, from the lowest two companies in Japan and the highest 31 companies in the United States. Most forecasts in the U.S. and Germany regarding capital expenditure, not profits and sales.
2. Segment disclosures. Investors and analysts
will request information regarding operating results and financial industry
segments classified as significant and increasing. Example, financial analysts
in the United States has consistently been asked disagregat report data in the
form of a much more detailed than they are now. International Financial
Reporting Standards (IFRS) also discussed the highly detailed segment
reporting. This report helps the users of financial statements to better
understand how the parts of a company affects the whole enterprise.
3. Cash flow statement and fund flow
IFRS and accounting standards in the United
States, Britain, and a large number of other countries require the presentation
of cash flows.
4. Disclosure of social responsibility
Today the company is required to demonstrate a
sense of responsibility to a bunch of so-called interested parties
(stakeholders) – employees, customers, suppliers, governments, activist groups,
and the general public company
5. Specific disclosures for non-domestic users of
financial statements and the accounting principles used
Financial statements may contain specific
disclosures to accommodate the users of financial statements nondomestik. Such
disclosure is:
1. “Re representation for comfort” to the
financial information in currencies nondomestik
2. Repeated presentation of the results and
financial position is limited by the two accounting standards.
3. A complete set of financial statements
prepared in accordance with accounting standards kesua groups, and some
discussion about the differences between the accounting principles that are
widely used in the primary financial statements and a few other sets of
accounting principles.
CORPORATE GOVERNANCE DISCLOSURES
Corporate governance related to the internal
tools used for running and controlling a firm – responsibility, accountability
and the relationship between the shareholders, board members and managers are
designed to achieve corporate objectives. The problems of corporate governance
include the rights and treatment to the shareholders, the board’s
responsibilities, disclosure and transparency and the role of the parties
concerned. Corporate governance practices has gained the attention of
regulators, investors and analysts.
DISCLOSURE AND REPORTING ON INTERNAL
BUSINESS
World Wide Web is increasingly being used as
channels of information dissemination, where the print media now plays a
secondary role. Business Reporting Language (Extensible Business Reporting
Language – XBRL) is an early stage of financial reporting revolution. This
computer language is built into almost all software for accounting and financial
reporting to be issued in the future, and most users do not need to learn how
to cultivate it so that it can directly enjoy the benefits.
DISCLOSURE REPORTS ANNUAL MARKET IN
DEVELOPING COUNTRIES
Disclosure of the company’s annual report on
emerging market countries are generally less extensive and less credible than
the reporting companies in developed countries. For example, the disclosure of
which is insufficient and misleading and neglected consumer protection cited as
the cause of the East Asian financial crisis in 1997. Low level of disclosure
in emerging market countries is consistent with the system of corporate
governance and finance in these countries. Less developed equity markets, banks
and internal parties such as family groups distribute most needs and
generally not too much of a need for public disclosure of credible and timely
manner, when compared with the more advanced economies.
IMPLICATIONS FOR USERS AND FINANCIAL
MANAGERS
The managers of many companies are constantly
heavily influenced by the cost of mandatory disclosure, the level of mandatory
and voluntary disclosure is increasing worldwide. Managers in countries that
traditionally have low disclosure should consider whether it operates a policy
of disclosure may provide significant benefits in the amount of their company.
Moreover, the managers who decided to provide more disclosure in areas
considered important by investors and financial analysts, such as disclosure of
segment and reconciliation, can gain competitive advantage from another company
that has a strict disclosure policy.
B. IMPORTANT ISSUES-ISSUES AFFECTING DECISION
MAKING DISCLOSURE manajamen FOR DECISION
BASIC CONCEPTS MANAGEMENT DECISION
Management needs the information as a basis for
their decision making. Information systems have an important role in providing
inf for all levels of management. Tiap2 activities and different management
decisions require different information. By it’s kana interchangeable remedy
which provides information relevant and useful to management, the information
system developers hrs understand first activities undertaken by management and
the type of decision.
A. TYPE OF MANAGEMENT
Management activities associated with its level
in the organization is divided into 3 sections:
1. Strategic planning
1. Strategic planning
2. Control
3. Control of operations
B. TYPE MANAGEMENT DECISION
Decision-making (Decision making) is in the
selection of alternative management actions to achieve the target.
Decision is divided into 3 types:
1. Programmatic decisions / decision
2. Decision half programmed / semi-structured
3. Decisions are not programmed / unstructured
C. TYPE OF INFORMATION
Role of information systems now ill just as the
collection of data and process them into information such as financial
laporan2, but who have a more important role in providing information for
management to fungsi2 planning, alokasi2 resources, measurement and control.
Laporan2 of information systems to provide information to management about
permasalahan2 is happening within the organization to be the proof is useful in
determining which action is taken. Information system provides three different
types of information:
1. Information data collection (Scorekeeping
information)
2. Information Briefing attention (attention
directing information)
3. Troubleshooting information (Problem Solving
information)
D. CHARACTERISTICS OF INFORMATION
To support the decision to be made by management,
then management needs information is useful. To tiap2 levels of management with
which different activities, different information needs also vary, the
characteristics of this information include:
1. Information Density
2. Wide Information
3. Frequency information
4. Time Information
5. Access to Information
6. Sources of Information
E. THE ROLE OF MANAGEMENT, by Henry
Mintzberg
1. The Role of Interpersonal
2. Informational role
3. Decisional role
F. DECISION PHASE
Simon (1960) introduced the four activities in
the decision making process:
1. Intelligence: Gathering information to identify the problem.
1. Intelligence: Gathering information to identify the problem.
2. Design: Phase alternatif2 design solutions in
terms of problem solving.
3. Choice: Stage alternatif2 choose from the
solution of which is provided.
4. Implementation: Phase implement the decision
and report the results.
C. PURPOSE OF DISCLOSURE ACCOUNTING IN EQUITY
MARKETS
In a competitive economy, the disclosure is a
means to channel coorperation accountability to capital providers (investors)
and to easy allocation of resources to their most productive use. coorperation
a need to attract capital in a very large amount to finance the production and
distribution activities are extensive. Therefore internal expanse is highly
dependent on external capital invested by the investor on a coorperation, In
return, an investor requires disclosure in which investors can assess the
quality of their stock to cultivate.
Conceptual link between disclosure and cost of
capital of the theory of investment behavior under conditions of uncertainty,
namely:
1. In a world of uncertainty, investors look at
returns on investment securities as money received as a consequence of
ownership
2. Because of the uncertainty of return is viewed
in a probabilistic sense.
3. Investors use a number of different measures
to quantify the expected results of a security.
4. Investors prefer a high return rate for a
certain risk level or vice versa.
5. The value of a security is positively related
to the flow of expected results and inversely related to the risks associated
with the refund.
6. Thus, disclosure of the company will increase
the probability distribution of outcomes expected by investors by reducing the
uncertainty associated with the refund. So will improve performance
(performance of the company) in the eyes of investors that lure investors to
invest on a larger similar securities so as to reduce the cost of capital
D. ASPECTS OF DISTINCTION noted that financial
CORPORATE PRACTICE
In deciding what information will be reported,
the usual practice is to provide sufficient information for judgments and
decisions affecting the users. This principle is often referred to as full
disclosure (full disclosure), recognizes that the nature and amount of
information included in financial statements reflect a series of trade off
assessments. This trade off between (1) the need to disclose in sufficient
detail the things that will affect the decisions of users, with (2) the need to
condense the presentation of information in order to be understood. In
addition, preparation of financial statements must also take into account the
cost of manufacture and use of financial statements (Kieso and Weygandt, 2002).
In case of information asymmetry is high, then
the users of financial statements do not have enough information to know
whether the financial statements, in particular earnings have been manipulated.
Microstructure market theory says that one of the adverse selection problem
faced by decision makers is the possibility of firm-specific information that
the material not disclosed to the public (Yanivi, 2003). Capital market
regulators to reduce this information asymmetry by making the minimum
requirement for disclosure needs to be done by the companies listed on stock
exchanges. One such regulation is the decision of the Capital Market
Supervisory Board chairman KEP-06/PM/2000 number of guidelines for financial
statement presentation. Greenstein and Sami (1994) in Yanivi (2003) examined
and found that the obligation of the Securities Exchange Committee (SEC)
regarding the disclosure of public enterprise segment in the U.S. stock market
has reduced the information asymmetry is indicated by a decrease in bid-ask
spread of the company.
Level of disclosure in the financial statements will help users of financial statements to understand the content and the numbers reported in financial statements. There are three levels of disclosure that is full disclosure, disclosure is reasonable, and adequate disclosure. Refers to the full disclosure of all information provided by the company, well-informed financial and nonfinancial information. Full disclosure not only include the financial statements but also includes information provided in the management letter, company prospect, and so on. Adequate disclosure is the disclosure required by applicable accounting standards. While the disclosure is reasonably adequate disclosure coupled with other information that could affect the fairness of financial statements such as contingencies, commitments and so forth.
Level of disclosure in the financial statements will help users of financial statements to understand the content and the numbers reported in financial statements. There are three levels of disclosure that is full disclosure, disclosure is reasonable, and adequate disclosure. Refers to the full disclosure of all information provided by the company, well-informed financial and nonfinancial information. Full disclosure not only include the financial statements but also includes information provided in the management letter, company prospect, and so on. Adequate disclosure is the disclosure required by applicable accounting standards. While the disclosure is reasonably adequate disclosure coupled with other information that could affect the fairness of financial statements such as contingencies, commitments and so forth.
Imhoff and Thomas (1994) in Yanivi (2003) proved
that the quality rating of the analysis was positively related to conservatism
in the estimation and selection of accounting methods, and a number of detailed
disclosures on the reported figures. The implications of this discovery is a
company that is more conservative in making estimates and choose the method of
accounting (or management company with a level of income / low income
smoothing) will reveal more information. If companies choose to report
conservative earnings management / low earnings smoothing. Then it shows a
negative relationship between income smoothing the level of disclosure.
5. FOREIGN CURRENCY TRANSLATION
Difference between the translation
and conversion of foreign currency.
Translation is a change in monetary units, as
well as a balance sheet presented are expressed in British pounds back into the
U.S. dollar equivalent value. There is no physical exchange that occurred, and
no related transactions that have occurred as it carried out the conversion.
Balances in foreign currencies are translated into domestic currency equivalent value based on the foreign exchange rate is the price of one unit of a currency expressed in another currency. State’s major trading currencies are bought and sold in global markets. With linked via a sophisticated telecommunications network, market participants include banks and other currency intermediaries, businesses, individuals and professional traders. By providing a place for the buyer and the seller’s currency, the foreign exchange market to facilitate the international transfer payments (eg, from importers to exporters), allow for international sale or purchase on credit (eg, a bank letter of credit that allows the goods delivered to the buyer unknown prior to payment), and providing tools for individuals or businesses to protect themselves from the risk of the currency is unstable.
Foreign currency transactions occur on the spot market, forward, or swap. Currency bought or sold on the spot generally must be sent as soon as possible, ie within 2 working days. Spot market exchange rate is influenced by many factors, including differences in inflation rates between countries, differences in national interest and expectations of the future exchange rate. Transaction on forward markets is an agreement to exchange one currency for a certain amount into another currency at a future date. Quotations on forward markets is expressed by the discount or premium of the spot rate.
Balances in foreign currencies are translated into domestic currency equivalent value based on the foreign exchange rate is the price of one unit of a currency expressed in another currency. State’s major trading currencies are bought and sold in global markets. With linked via a sophisticated telecommunications network, market participants include banks and other currency intermediaries, businesses, individuals and professional traders. By providing a place for the buyer and the seller’s currency, the foreign exchange market to facilitate the international transfer payments (eg, from importers to exporters), allow for international sale or purchase on credit (eg, a bank letter of credit that allows the goods delivered to the buyer unknown prior to payment), and providing tools for individuals or businesses to protect themselves from the risk of the currency is unstable.
Foreign currency transactions occur on the spot market, forward, or swap. Currency bought or sold on the spot generally must be sent as soon as possible, ie within 2 working days. Spot market exchange rate is influenced by many factors, including differences in inflation rates between countries, differences in national interest and expectations of the future exchange rate. Transaction on forward markets is an agreement to exchange one currency for a certain amount into another currency at a future date. Quotations on forward markets is expressed by the discount or premium of the spot rate.
Swap transaction involves the purchase of spot
and forward sales or spot sales or purchases forward, on a currency simultaneously.
Investors often make use of swap transactions to take advantage of interest
rates higher in a foreign country, the same opportunity to protect themselves
against unfavorable movements of the exchange rate of foreign exchange. In
terms of foreign currency translation. Translation is the translation of
foreign currency.
Translation is the exchange of foreign
currency.
1. Translation occurs when the subsidiary company
has been significant, and there is MNC (Multy National Corporete)
2. Translational change in different units into
units of money.
3. Translation of the play rate.
Translation methods can be classified into two
types of methods that use a single exchange rate for the present re-translation
of foreign currency balances to the equivalent value in domestic currency or a
method that uses a variety of rates.
1. Methods Single Currency
This method has long been popular in Europe,
applying the exchange rate, the current exchange rate and the closing exchange
rate, for all assets and liabilities lancer. Revenues and expenses denominated
in foreign currencies are generally translated using the exchange rate
prevailing at the time the posts are recognized. However, to facilitate these
items are generally translated using the weighted average exchange rates are
appropriate for the period. The financial statements of a foreign operation has
its own reporting domicile, local currency environment in which the foreign
affiliate companies do business. An asset or liability denominated in foreign
currency is said to face foreign exchange risk if the equivalent in the
currency used to translate the asset or liability.
2. Multiple methods of exchange rate
2. Multiple methods of exchange rate
The method combines Multiple Currency exchange
rate exchange rate historically and now in the process of translation.
3. Now the method-Nonkini
Based on the Method of Non-Now-Now, lancer
current assets and liabilities of foreign subsidiaries are translated into the
reporting currency of its parent company based on the exchange now. Assets and liabilities
are translated lancer historical rates of exchange. Items of income statement
(except for depreciation and amortization) are translated based on the average
rate prevailing in each month of operation, or based on a weighted average over
the entire reporting period. Depreciation and amortization are translated based
on the historical exchange rate recorded saaat assets acquired. However, this
method does not consider the economic element. Using year-end exchange rate to
translate the lancer assets implies that cash, receivables, and inventory in
foreign currencies are equally at risk of exchange rate.
4. Monetary-nonmonetary method
Non-monetary method Monetary also use the balance
sheet classification scheme fatherly determine the appropriate exchange rate
translation. Monetary assets and liabilities are translated based on the
exchange rate now. Items of non-monetary assets, long-term investment, and
stock investors are translated using historical exchange rates. Items of income
statements are translated using a procedure similar to that described for the
concept of non-present now.
5. Temporal method
5. Temporal method
By using the temporal method, tranlasi currency
conversion is a process of re-measurement or presentation of a certain value.
This method does not change the attributes of an item being measured, but only
change the unit of measurement. Translation of these balances in foreign
currency-denominated causes repeated measurements such items but not the actual
assessment. Under U.S. GAAP, measured by the amount of cash on hand at the
balance sheet date. Receivables and liabilities are stated at amounts expected
to be received or paid at maturity.
Advantages and disadvantages of foreign
currency translation.
Accounting treatments led to international
adjustments are as diverse as translation procedures behind them. Therefore,
solutions that make sense to the problem of how to treat the “profit or loss”
of this translation is needed. Approaches for accounting for translational
adjustment of the approach initiated deferral (delay) to an approach that does
not require a delay at all, with treatments of hybrid between the two. Major
deferal. income translation adjustments in the profit goes to the general
public was opposed on the grounds that the adjustments are just a product of
the process of re-presentation. Namely, the changes in the domestic currency
equivalent of the net assets of overseas subsidiaries ‘unrealized’, has no
effect on the local currency cash flows generated by overseas entities that may
be re-invested or paid back to the parent company. Incorporate such adjustments
in current earnings, thus, be misleading. In these situations, must be
accumulated translation adjustments separately as part of consolidated equity.
Even so, the deferral approach, possibly contested on the grounds that the
exchange rate does not return to its original state by itself. Even if that
happens, the adjustment-penyesuaiati deferral or the transaction will be based
on the predictions of the exchange rate, the efforts of the most difficult in
practice. Situations may arise where the operating results have misstated
because of forecasting errors. For some, delay or loss of translational
advantage over the behavior of exchange rate changes, ie, exchange rate changes
historical facts and user- report served well if the effects of exchange rate
fluctuations are recorded when these effects arise. According to FAS No. 8
(paragraph 199), “Currency is always fluctuating; accounting should not give
the impression that the exchange rate is stable”.
Deferral and amortization. Some observers like
the delays and gains and losses mengamortisasikan translation adjustments
during the age of balance sheet items are concerned. Mark against the dollar
appreciation between the date of the consolidation of translational yield
losses. Based on the assumption that the cost of the asset including the
sacrifices necessary to reduce and remove the associated liabilities, losses
will be treated as a translation of part of the cost of the relevant asset and
amortized into expense over the asset Such age.
No deferral. The third choice in accounting for
translation gains and losses is to recognize the loss or gain in the income
statement immediately. Delays of any kind is considered false and misleading.
In addition, the criteria for a delay was considered impossible to implement
and internally inconsistent. Thus, the traditional approach is to recognize
losses immediately but only recognizes gains these gains have been realized so
far. Although conservative, delays translational advantage solely because of
the advantages “reject” that exchange rate changes have occurred.
Enter translation gains and losses in current
earnings, unfortunately, means involving random elements in the profits that
could result in significant earnings volatility every time the exchange rate
change. In addition, include gains and losses “on paper” similar to the
reported earnings to mislead readers of financial statements, because the
correlation, this adjustment does not always provide information that matches
the expected economic impact of exchange rate changes on cash flows of the
company.
Effect of foreign currency translation
method on the financial statements.
The following third exchange rate used during the
translation of balances in foreign currencies into their domestic currency.
First, this exchange is the exchange rate at the date of the financial
statements. Second, the historical exchange rate is the exchange rate at the
time an asset is denominated in foreign currency was first acquired, or when a
foreign currency liabilities in the first place. Finally, the average rate is a
simple average or weighted exchange rate or exchange rate is now historical.
Influence the use of historical exchange rate compared to the exchange rate is
now on the financial statements when used as koofisien foreign currency
translation. Historical exchange rate generally maintain the initial cost is
equivalent to an item in a foreign currency denominated in domestic currency
reports.
1. Single Rate Method
Based on this translational approach, the
financial statements of foreign operations, which are considered by the parent
company as an autonomous entity, has the reporting of their own domicile. This
is a local accounting environment where foreign affiliates are mentraksaksikan
his business affairs. To maintain the “flavor” of the local currency reports, a
way must be found so that translation can be implemented with minimal
distortion. The best way is the use of the method of exchange rate policies.
Since all financial reports of foreign exchange
is actually multiplied by a konstansta, this translation method to maintain its
financial results and the original relation (eg financial ratios) in the
consolidated statements of individual entities that are consolidated. Only the
form of overseas estimates, not the essence, the change in the method of
exchange rate policies. Although interesting and conceptually simple, the
method of exchange rate policies were blamed by some people because it
undermines the basic purpose of the consolidated financial statements, that is
because it presents, for the benefit of shareholders of the parent company,
operating results and financial position of the parent company and firms from
the perspective of children the single currency. maintain the parent company’s
reporting currency as the unit of measurement. In the prevailing exchange rate
method, the results will reflect the consolidation of perspekfif-exchange
perspective of each country where companies are children. For example, if an
asset dip = roleh an overseas subsidiary company for when the rate was 1.000 VA
VA 1 = $ 1, then from the perspective of historical cost dollars is $ 1,000;
from the perspective of local currency is also $ 1000. If the exchange rate changed
to VA 5 = $ 1, the historical cost of those assets from the perspective of the
dollar (translas’ historical cost) remains $ 1,000. If the local currency will
be retained as the unit of measurement, will be expressed nifai assets of $ 200
(exchange rate translation effect). Rate method applies also to blame because
it assumes that all assets are influenced by local-currency exchange rate risk
(ie, assuming that the fluctuations in the domestic currency equivalent, which
is caused by fluctuations translational running, an indicator of changes in the
intrinsic value of those assets). Hat is rarely true because the value of
inventory and fixed assets in foreign countries are generally supported by
local inflation.
2. Multiple Rate Methods
Methods of combining multiple exchange rate
exchange rate historically runs and in the process of translation. 3 Such
methods are discussed below. Force-historical method. Based on the
true-historical approach, which is popular in the U.S. and other places before
the year 1976, current assets and current liabilities of a subsidiary abroad
are translated into the reporting currency using the exchange rate of its
parent company applies. Assets and liabilities are non-smooth translated with
historical rates. Items of income statement, except for depreciation and
amortization, are translated at the exchange rate on average each month of
operation or on the basis of the weighted average of the entire period to be
reported. Depreciation and amortization are translated using historical
exchange rates prevailing at the time of the relevant asset is obtained. This
methodology is, unfortunately, has some drawbacks. For example, this method is
less choose a conceptual justification. Existing definitions of assets and
liabilities and non-current classification does not explain why such a manner
which will determine the exchange rate used in the process transiasi.
Monetary-nonmonetary method. As with any true-historical method, the method
moniter using pattern-classification of non-monetary balance sheet to determine
the appropriate exchange rate translation. Due to monetary items in cash
settled; usage rate applicable to translate the items of foreign exchange
domestic currency equivalent yield that reflects the realizable value or value
of the solution. Temporal method according to the temporal approach,
translational currency conversion is a process of measurement (ie, repeated
presentation of a particular value). Therefore, this method can not be used to
change the attributes of an item that is being measured; this method can only
change the unit of measurement. Balance of foreign currency translation, for
example, just change the (restate) the denomination of inventory. not the
actual assessment. In U.S. GAAP, assets are measured based on jumiah cash on
hand at the balance sheet date. Receivables and payables expressed in a number
expected to be received or paid at maturity. Liabilities and other assets are
measured at the prevailing price when the item is acquired or item ¬ occurs
(historical price). Even so, some of which are measured by the prices
prevailing at the date of financial statements (the price goes), such as
inventory under the rules of cost or market. In short, there is a time
dimension associated with the values of money ini.Menurut Lorensen, the best
way to maintain the accounting bases are used to measure items of foreign
exchange is to translate the foreign currency amount the exchange rate
prevailing on the date of measurement money takes place overseas. Temporal
principle thus stated that money, receivables, and payables are measured at the
promised amount should be translated using the exchange rates prevailing at
balance sheet date. Assets and liabilities are measured at the price of money
should be translated using the exchange rates prevailing on the date with
respect to the price of money. Evaluation and selection of foreign currency
translation method.
Method of currency conversion
Known around the world at least 4 different types
of currency conversion methods, namely:
A. Current methods / Non-current
This method is the oldest method of currency
conversion methods. With this method, all assets and liabilities of the
branches lancer converted in the currency of the company’s country of origin at
current exchange rates, the exchange rate at the balance sheet drawn up. Being
assets and noncurrent liabilities (noncurrent), such as depreciation cost,
converted at the historical exchange rate, the exchange rate at the time when
the asset acquired or liability occurs. Therefore, branches of overseas
companies which have a positive working capital valued in local currency will
increase the risk of loss (translation loss) due to the devaluation of the
method of current / non current. Instead of working capital turns negative when
assessed in the local currency means that there are advantages (translation
gain) due to revaluation of the method. However, this method does not consider
the economic element. Using year-end exchange rate to translate current assets
implies that cash, receivables, and inventory in a foreign currency are both
facing exchange rate risk. This is certainly not appropriate. In contrast,
translation of long-term debt based on historical exchange rates shift the
influence of fluctuating currency into the year of completion.
2. Methods Monetary / non-monetary
2. Methods Monetary / non-monetary
Monetary assets (mainly cash, marketable
securities, accounts receivable, and long-term receivables) and liabilities
(especially debt and long-term debt) converted at current exchange rate. Being
non-monetary items, such as the stock of goods, fixed assets and long-term
investment, converted at the historical exchange rate. The posts in the profit
/ loss is converted to the average rate during the period, except for the
postal receipts and the costs associated with non-monetary assets and
liabilities. Depreciation costs and cost of sales is converted at the rate
equal to the balance sheet heading. As a result, cost of sales could have been
converted to a different exchange rate with the rate used to convert sales. It
should be noted that the monetary-nonmonetary method depends on the balance
sheet classification scheme for determining the appropriate exchange rate
translation. This can produce inaccurate results. This method will also distort
the profit margin for sales compare based on price and exchange rate
translation is now at a cost of sales are measured at cost and historical
exchange rate translation.
3. Temporal method
By using the temporal method, currency
translation is a process of re-conversion of the measurement or presentation of
a certain value. The method does not change the attributes of an item being
measured, just change the unit of measurement. Translation of these balances in
foreign currency re-denomination of measurement causes the outposts, but not
the actual assessment.
This method is a modification of the method of monetary / non monetary. The difference, in the method of monetary / non monetary, stock (inventory) is always converted to the historical exchange rate. Being the temporal method, inventory is generally converted to the historical exchange rate, but may be converted at current exchange rates when the inventory is recorded in the balance sheet with its market value. Theoretically, the temporal method evalusai more emphasis on cost (historical or market). The posts in the profit / loss is generally converted to the average rate in the reporting period. Moderate cost of sales, installment debt, and depreciation related to the balance sheet items are converted at the exchange rate histories (rates in the past).
4. Current rate method
This method is a modification of the method of monetary / non monetary. The difference, in the method of monetary / non monetary, stock (inventory) is always converted to the historical exchange rate. Being the temporal method, inventory is generally converted to the historical exchange rate, but may be converted at current exchange rates when the inventory is recorded in the balance sheet with its market value. Theoretically, the temporal method evalusai more emphasis on cost (historical or market). The posts in the profit / loss is generally converted to the average rate in the reporting period. Moderate cost of sales, installment debt, and depreciation related to the balance sheet items are converted at the exchange rate histories (rates in the past).
4. Current rate method
This method is the easiest method because all of
the post balance sheet and profit / loss is converted at current exchange
rates. This method is recommended by the Institute of Accountants England,
Scotland, and Wales, and is widely used by British companies. With this method,
when assets exceed liabilities denominated in foreign currency in foreign
exchange, a devalusai will result in losses. Variations of this method is to
convert all assets and liabilities, except for net fixed assets are stated at
current exchange rates. Transactions in foreign currency The main
characteristic of a particular foreign currency transactions are finish
influenced in a foreign currency. Thus, transactions in foreign currency occurs
when a company buys or sells goods to the payments made in a foreign currency
or when companies borrow or lend in foreign currencies. A foreign currency
transactions can be denominated in one currency, but the measured or recorded
in other currencies. To understand why this is happening, first term functional
currency. Functional currency of a company is defined as the currency of the
primary economic environment in which firms operate and generate cash flow. If
a foreign subsidiary operations relative stand-alone and integrated in a
foreign country (ie sutau subsidiaries that produce products for local
distribution), will generally produce and spend money in local currency
(countries of residence). Thus the local currency (eg euros for children i a
U.S. company located in Belgium) is the functional currency. To illustrate the
difference between a transaction that is denominated in a currency, but
measured in other currencies, eg, a U.S. subsidiary in Hong Kong to buy stock
of merchandise from the People’s Republic of China paid i. Subsidiary’s
functional currency is U.S. dollars. In this case, the subsidiary will measure
foreign currency transactions are denominated in renmimbi into U.S. dollars,
the currency used in the record book. From the standpoint of the parent
companies, subsidiaries liabilities denominated i, but measured in U.S. dollar
functional currency, for the purposes of consolidation
Foreign currency translation relationship
with inflation
The use of the exchange rate is now to translate
the cost of non-monetary assets are located in inflation environment will
ultimately lead to an equivalent value in domestic currency is much lower than
the initial baseline measurement. At the same time, earnings will be much
larger translated with respect to load depresisasi which is also lower. The
translation as it can be more easily mislead readers as to give information to
the reader. Assessment of the lower dollar typically lower earnings power
actual of foreign assets which are supported by local inflation and the ratio
of return on investment that affected inflation in a foreign operation may
create false expectations on future profits. FASB rejected before the inflation
adjustment process of translation, because the adjustment is not inconsistent
with the historical cost basis of the assessment framework used in the basic
financial statements in the U.S.. As a solution FAS No. 52 requires the use of
the U.S. dollar as the functional currency for those residing overseas
operations with hyperinflation environment. This procedure will maintain a
constant value of the dollar equivalent of foreign currency assets, because
these assets will be translated according to the historical rate. The
imposition of losses on fixed assets in the translation of foreign currency to
equity shareholders will cause a significant effect on financial ratios.
Foreign currency translation problem can not be separated from the problem of
accounting for foreign inflation.
6. FINANCIAL REPORTING AND PRICE CHANGES
Understand why the financial report has
the potential to mislead during the period of price changes.
This measurement inaccuracies distort the financial projections based on historical time series of data, the budget is the basis of performance measurement, performance data can not isolate the effect of inflation that can not be controlled. While earnings are valued more in turn will lead to: Increase the proportion of tax, demand more dividends than shareholders, salaries and demand higher wages than workers, and adverse actions of the host country (such as taxation of very large gains. Knowing the term – inflation accounting terms and understand the effect of price adjustments to financial statements.
This measurement inaccuracies distort the financial projections based on historical time series of data, the budget is the basis of performance measurement, performance data can not isolate the effect of inflation that can not be controlled. While earnings are valued more in turn will lead to: Increase the proportion of tax, demand more dividends than shareholders, salaries and demand higher wages than workers, and adverse actions of the host country (such as taxation of very large gains. Knowing the term – inflation accounting terms and understand the effect of price adjustments to financial statements.
To understand the notion of price changes
(changing prices), the following terms in use:
A general price changes occur when the average
price of all goods and services in an economy subject to change. Price
increases are collectively known as inflation (inflation), while the price
declines known as deflation (deflation). Specific price changes refers to
changes in the price of goods or services which are caused by changes in demand
and supply. A stable price level becomes a national priority for many countries
around the world. Although the price changes occur throughout the world, the
influence of business and financial reporting varies from one country to
another.
Determine differences in current cost accounting model and the conventional.
Determine differences in current cost accounting model and the conventional.
In general, the conventional accounting,
financial statements are presented based on the historical value that assumes
that hargaharga (monetary unit) is stable. Conventional accounting does not
recognize the changes in general price levels or changes in the level of rates.
As a consequence, if there is a change in purchasing power as inflation period,
the historical financial statements is economically irrelevant. In this period
generally scored higher revenues while fixed assets valued lower. Actually,
there are several methods of accounting on the effect of price changes, such as
accounting fixed price, current value accounting, and general price level
accounting. General price level accounting restatement will hold the components
of financial statements into dollars at the same level of purchasing power, but
did not change the accounting principles used in accounting based on the value historis.Pada practice, the controversy
concerning the relevance of the use of price level accounting public still
continues to this day. Some of the arguments that support or reject the application
of the general price level accounting will be presented in this article.
Similarly, the results of two studies on the effects of application of the
general price level accounting on the financial statements will be compared to
see whether the accounting adjustments based on the general price level is
required.
Explain the differences of inflation
accounting in the U.S., Britain, and Brazil.
In the U.S., the advantages and
disadvantages of monetary items are determined by me restate, in constant dollars,
from the beginning and ending balances, or transactions in, all assets and
liabilities (including long-term debt). The results are intended to provide a
useful basis for assessing the performance of companies in maintaining the
general purchasing power of investors (FAS No. 89, paragraphs 65-66). Gains or
losses are not included in profit but are disclosed in a separate stand-alone
item. This treatment implies that the FASB looked at the advantages and
disadvantages in the IEM-monetary item is different in nature with other
spiders.
In the UK, gains and losses on
monetary items are separated into monetary working capital adjustment and
geraing. The second number is associated with the following changes in the
price level is given (SSAP NO. 16 paragraphs 11-13) / when sales on credit,
working capital tied company (in a sense, corporate finance financial changes
in the replacement cost of inventory) to accounts receivable associated billed.
Conversely, when stocks and other supplies purchased on credit, the specific
price changes related to these items are basically financed by the supplier
during the crediting period. So that the working capital of the buyers are free
to use for other purposes. Because these phenomena are the same and is seen as
an extension of adjusting the running costs of sales to generate operating
profit has been adjusted.
In Brazil, do not adjust the
current assets and current liabilities are explicitly because the amounts are
expressed in the running. Adjustments arising from calculating the net value of
assets and capital that have been permanently adjusted to price levels
represent a gain or loss in the general purchasing power of working capital
financing with debt or equity. Adjustment of permanent assets in excess of
capital adjustment to reflect the portion of assets financed with debt
permanently, resulting in a gain purchasing power. Instead, the adjustment of
capital assets is greater than the permanent adjustment shows the portion of
working capital financed by capital. For the capital portion is recognized the
loss of purchasing power during inflationary periods.
Understanding of financial reporting in
hyperinflation economy.
This statement does not set at a certain level of
inflation is considered hyperinflation. Consideration is required in
determining when restatement of financial statements need to be done in
accordance with this statement. Characteristics of the economic environment of
a country which is an indication that the country is experiencing
hyperinflation, among others: (a) inhabitants prefer to store their wealth in
the form of non-monetary assets or in a foreign currency is relatively stable.
Amount of local currency held immediately invested to maintain purchasing
power; (b) the population consider the monetary amount is not in the local
currency but in foreign currencies are relatively stable. The prices may
dikuotasikan in foreign currency; (c) the prevailing price in the sales and
purchases on credit is determined by inserting a factor expected loss of purchasing
power during the credit period, even if the short loan period, (d) interest
rates, wages and prices associated with the price index, and (e) the cumulative
inflation rate over three years approaches or exceeds 100%. All entities that
prepare financial statements in the currency of the same hyper-inflation
economies are encouraged to apply this statement from the same date. However,
this statement is applied to the financial statements of each entity since the
beginning of the reporting period when the entity identifies the existence of
hyperinflation in the country whose currency is used by such entities to
prepare financial statements.
Knowing whether a constant dollar or
current cost is better to measure the effects of inflation.
Proponents of historical cost model of constant
purchasing power of the opinion that the cost model now violates the basic
framework of the historical cost because it is based on the initial acquisition
cost, the model is also based on a hypothetical cost estimates and therefore
too subjective and difficult to put into practice. Ignoring changes in general
purchasing power of money led to comparisons between periods is also not
difficult to interpret and weigh the advantages and disadvantages of the
ownership of monetary items such as debt. In the present model of adjustment
costs, the business is not affected by inflation ,but more influenced by the
rising costs of special operations and fixed asset expenditures.
Model of constant purchasing power of
combining the characteristics of the current cost model of constant purchasing
power historical cost and current cost models.
The basic framework of this mixture increases
recognize the present value of assets as the advantages of wealth, and thus
allow for comparison between present income and earnings in the previous
period. Companies considered it would be better only if the asset increases
greater than inflation. Monetary gains or losses, are largely ignored in
current cost models, is part of the measurement.
Definition of a double dip (double dip)
and explains how to handle.
In Hall’s point of view, resembles a double-dip
recession is punctuated by sustained periods of growth, followed by a long
decline in the economy.
PERPAJAKAN
INTERNASIONAL
Masing-masing negara berhak untuk menentukan pajak dalam batas kenegaraannya yang mengakibatkan perbedaan perpajakan di tiap-tiap negara, selain juga disebabkan perbedaan budaya dan pemaksaan pajak. Perbedaan tersebut meliputi perbedaan dalam penentuan pajak dan penentuan biaya.
Keseimbangan dan netralitas
Prinsip equity menyatakan dalam kondisi sama pembayar pajak hendaknya dibebankan pajak yang sama sedang netrality menyatakan pengaruh pajak hendaknya tidak memiliki imbas dalam pengambilan keputusan bisnis.
Sumber pendapatan
Sumber pendapatan dikelompokkan dalam dua kelas yaitu sumber pendapatan dalam negeri dan luar negeri. Sumber pendapatan luar negeri adalah hasil ekspor barang dan jasa termasuk dari cabang di luar negeri dan dikenai pajak pada saat pendapatan diakui. Pajak cabang LN dapat dikenakan dengan menggunakan dua metode yaitu pendekatan teritorial dan worldwide. Pendekatan teritorial berprinsip pajak dikenakan di negara asal di mana pendapatan di dapat. Pendekatan worldwide dikenakan baik pada penghasilan dalam maupun luar negeri (pajak berganda).
Penentuan biaya
Penentuan biaya berpengaruh pada besar pajak. Jika R dan D dikapitalisasi maka pajak penghasilan akan berlangsung selama masa pengakuan nilai sampai habis dalam penghapusannya. Jika diperlakukan sebagai biaya hanya berpengaruh pada periode tertentu sehingga berdampak pada pajak langsung. Perbedaan penentuan umur aset akan menentukan besar biaya. Aset didepresiasi lebih pendek berakibat pada biaya menjadi lebih besar dan pajak lebih kecil.
Tipe-tipe pajak
1. Corporate Income Tax, dua pendekatan yang digunakan sistem klasik yaitu pajak dikenakan jika penghasilan sudah diterima dan dicatat subyek pajak. Dan sistem integral yaitu mengeliminasi pajak berganda lewat dua metode yakni split rate dan imputansi.
2. With Holding Tax, penghasilan yang dihasilkan perusahaan anak di LN dikenakan pajak negara itu, sedang dividen yang dikirim ke perusahaan dikenakan pajak negara tempat perusahaan induk berada.
3. Indirect Tax, pajak tidak langsung dikenal sebagai pajak pertambahan nilai. Konsep mendasari adalah bahwa pajak dikenakan pada tiap tahap produksi. Pertambahan nilai didapat dari penghasilan barang dikurang nilai input, tetapi PPn bukan pajak penjualan.
Penghindaran pajak berganda
Permasalahan pengenaan pajak terhadap anak perusahaan di LN adalah kemungkinan terjadi pengenaan pajak ganda yaitu saat penghasilan diakui dikenai pajak nnegara tersebut dan dikenai pajak negara perusahaan induk saat penghasillan diakui oleh perusahaan induk.penghindaran pajak dapat menggunakan metode :
1. Kredit pajak, perusahaan dapat mengurangi beban pajak dengan dollar for dollar basis.
2. Traktat pajak, perbedaan filosofi pembebanan pajak menimbulkan treaty untuk meminimisasi pajak berganda, melindungi hak amsing-masing negara dalam memungut pajak dan menyediakan acuan untuk memutuskan suatu masalah.
Perpajakan USA untuk sumber pendapatan luar negeri
Pendapatan dibagi dua :
1. Pendapatan dari impor dan ekspor barang jasa perusahaan induk
2. Pendapatan dari cabang di luar negeri
Prinsip terkait adalah prinsip penangguhan dan prinsip kredit pajak.
Konsep Tax Haven, ialah tempat orang asing menerima pendapatan atau aset tanpa membayar tarif pajak tinggi.
Controlled Foreign Corporation, perusahaan USA dapat memilih untuk memproduksi, menjual melalui perusahaan anak di LN.
Pendapatan Cabang, hukum pajak di USA memiliki qualified business unit yang dibagi dua bagian yaitu penghasilan didistribusikan ke kantor pusat dan penghasilan ditahan di LN tempat QBU berada.
Insentif Pajak
1. Insentif untuk menarik eksportir agar ekspor dapat bersaing di LN
2. Insentif bagi investor asing agar menanamkan modal karena ada keringanan pajak.
3. Insentif lain adalah zero rate namun bukan berarti tak dikenai pajak. Jika sektor telah kompetitif maka tarif dinaikkan.
Perusahaan penjualan luar negeri
Foreign sales corporation harus memenuhi tuntutan :
1. Berbentuk korporasi dan memiliki kantor pusat di LN
2. Perusahaan secara substantif ekonomis bukan hanya legal
3. Memiliki min.25 pemegang saham
4. Ekspor dilakukan di luar USA
Perencanaan pajak internasional
Ekspor, FSC memberi kesempatan dan menyediakan keuntungan pajak. Jika perusahaan menentukan lisesnsi untuk teknologi LN harus memperhatikan with holding tax dan tax treaty.
Cabang, kerugian umum terjadi pada tahun pertama dan digunakan perusahaan induk untuk mengurangi beban pajak.
Perusahaan anak, keuntungan anak perusahaan belum dikenakan pajak sebelum dibagikan dalam bentuk pendapatan ke perusahaan induk tapi kerugian tak dapat dikompensasi ke perusahaan induk.
Lokasi untuk operasi LN, berhubungan dengan insentif pajak, tarif pajak, dan tax treaty.
Masing-masing negara berhak untuk menentukan pajak dalam batas kenegaraannya yang mengakibatkan perbedaan perpajakan di tiap-tiap negara, selain juga disebabkan perbedaan budaya dan pemaksaan pajak. Perbedaan tersebut meliputi perbedaan dalam penentuan pajak dan penentuan biaya.
Keseimbangan dan netralitas
Prinsip equity menyatakan dalam kondisi sama pembayar pajak hendaknya dibebankan pajak yang sama sedang netrality menyatakan pengaruh pajak hendaknya tidak memiliki imbas dalam pengambilan keputusan bisnis.
Sumber pendapatan
Sumber pendapatan dikelompokkan dalam dua kelas yaitu sumber pendapatan dalam negeri dan luar negeri. Sumber pendapatan luar negeri adalah hasil ekspor barang dan jasa termasuk dari cabang di luar negeri dan dikenai pajak pada saat pendapatan diakui. Pajak cabang LN dapat dikenakan dengan menggunakan dua metode yaitu pendekatan teritorial dan worldwide. Pendekatan teritorial berprinsip pajak dikenakan di negara asal di mana pendapatan di dapat. Pendekatan worldwide dikenakan baik pada penghasilan dalam maupun luar negeri (pajak berganda).
Penentuan biaya
Penentuan biaya berpengaruh pada besar pajak. Jika R dan D dikapitalisasi maka pajak penghasilan akan berlangsung selama masa pengakuan nilai sampai habis dalam penghapusannya. Jika diperlakukan sebagai biaya hanya berpengaruh pada periode tertentu sehingga berdampak pada pajak langsung. Perbedaan penentuan umur aset akan menentukan besar biaya. Aset didepresiasi lebih pendek berakibat pada biaya menjadi lebih besar dan pajak lebih kecil.
Tipe-tipe pajak
1. Corporate Income Tax, dua pendekatan yang digunakan sistem klasik yaitu pajak dikenakan jika penghasilan sudah diterima dan dicatat subyek pajak. Dan sistem integral yaitu mengeliminasi pajak berganda lewat dua metode yakni split rate dan imputansi.
2. With Holding Tax, penghasilan yang dihasilkan perusahaan anak di LN dikenakan pajak negara itu, sedang dividen yang dikirim ke perusahaan dikenakan pajak negara tempat perusahaan induk berada.
3. Indirect Tax, pajak tidak langsung dikenal sebagai pajak pertambahan nilai. Konsep mendasari adalah bahwa pajak dikenakan pada tiap tahap produksi. Pertambahan nilai didapat dari penghasilan barang dikurang nilai input, tetapi PPn bukan pajak penjualan.
Penghindaran pajak berganda
Permasalahan pengenaan pajak terhadap anak perusahaan di LN adalah kemungkinan terjadi pengenaan pajak ganda yaitu saat penghasilan diakui dikenai pajak nnegara tersebut dan dikenai pajak negara perusahaan induk saat penghasillan diakui oleh perusahaan induk.penghindaran pajak dapat menggunakan metode :
1. Kredit pajak, perusahaan dapat mengurangi beban pajak dengan dollar for dollar basis.
2. Traktat pajak, perbedaan filosofi pembebanan pajak menimbulkan treaty untuk meminimisasi pajak berganda, melindungi hak amsing-masing negara dalam memungut pajak dan menyediakan acuan untuk memutuskan suatu masalah.
Perpajakan USA untuk sumber pendapatan luar negeri
Pendapatan dibagi dua :
1. Pendapatan dari impor dan ekspor barang jasa perusahaan induk
2. Pendapatan dari cabang di luar negeri
Prinsip terkait adalah prinsip penangguhan dan prinsip kredit pajak.
Konsep Tax Haven, ialah tempat orang asing menerima pendapatan atau aset tanpa membayar tarif pajak tinggi.
Controlled Foreign Corporation, perusahaan USA dapat memilih untuk memproduksi, menjual melalui perusahaan anak di LN.
Pendapatan Cabang, hukum pajak di USA memiliki qualified business unit yang dibagi dua bagian yaitu penghasilan didistribusikan ke kantor pusat dan penghasilan ditahan di LN tempat QBU berada.
Insentif Pajak
1. Insentif untuk menarik eksportir agar ekspor dapat bersaing di LN
2. Insentif bagi investor asing agar menanamkan modal karena ada keringanan pajak.
3. Insentif lain adalah zero rate namun bukan berarti tak dikenai pajak. Jika sektor telah kompetitif maka tarif dinaikkan.
Perusahaan penjualan luar negeri
Foreign sales corporation harus memenuhi tuntutan :
1. Berbentuk korporasi dan memiliki kantor pusat di LN
2. Perusahaan secara substantif ekonomis bukan hanya legal
3. Memiliki min.25 pemegang saham
4. Ekspor dilakukan di luar USA
Perencanaan pajak internasional
Ekspor, FSC memberi kesempatan dan menyediakan keuntungan pajak. Jika perusahaan menentukan lisesnsi untuk teknologi LN harus memperhatikan with holding tax dan tax treaty.
Cabang, kerugian umum terjadi pada tahun pertama dan digunakan perusahaan induk untuk mengurangi beban pajak.
Perusahaan anak, keuntungan anak perusahaan belum dikenakan pajak sebelum dibagikan dalam bentuk pendapatan ke perusahaan induk tapi kerugian tak dapat dikompensasi ke perusahaan induk.
Lokasi untuk operasi LN, berhubungan dengan insentif pajak, tarif pajak, dan tax treaty.
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