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HUDA

C1L013024
International Class of Accounting 2013
Development of Accounting in Indonesia
The development of Indonesian accounting standards can be
said started from Dutch colonial period until independence in 1945
and until today is towards convergence with IFRS. In the
development of these accounting standards, Indonesia through so
many changes and some guidelines for application ranging from
standard use of the Dutch nation until now have been using
international accounting standards. In a step towards the
implementation of international standards, as described above,
Indonesia deal for through and use some guidance or financial
standards. The following will explain the development of accounting
indonesia authors ranging from the colonial period and then using
some adjustments to the implementation of standards in the years
subsequent to the implementation of international standards:
1. In Indonesia during the Dutch colonial period, there are no
accounting standards used. Indonesia adopt the standards (Sound
Business Practices) Dutch style. And Indonesia is still using Dutch
style until independence in 1945-1955.
2. Until 1955, Indonesia had started to leave the Dutch style and
began to move to the American accounting standards, but Indonesia
does not have legislation - the official laws / regulations on financial
standards ,
3. In 1974, initial milestone Indonesia following the American
accounting standards made by IAI called Accounting Principles in
Indonesia (PAI). But Indonesia with his PAI do not have laws
regulating such standards.
4. In the Year 1984: Accounting Principles in Indonesia is set to be
published Accounting standards and PAI Act.
5. End of 1984: Accounting Standards in Indonesia following the
standards derived from the IASC (International Accounting
Standards Committee)
6. From the Year. 1994: IAI is already committed to follow the IASC /
IFRS.

7. 2008: expected the differences with IFRS IAS will be resolved. And
Indonesia began to refer to the IFRS standard or in other words,
Indonesia has began to adopt international standards IFRS.
8. In 2012 Indonesia fully adopt / IFRS international standards
convergence.

The existence of global environmental change increasingly


brings together almost all countries in the world in a single
community, which bridged the development of communication and
information technologies are getting cheaper, demands for
transparency in all fields. Financial accounting standards of quality is
one of the essential infrastructure to achieve the transparency.
Financial accounting standards can be likened to a mirror, where a
good mirror would be able to describe the practical conditions of the
actual business.
Therefore, the development of financial accounting standards,
very relevant and absolutely necessary at the present time. Role of
GAAP Statement of Financial Accounting Standards (SFAS) account
in establishing the basis for presentation of financial statements, or
in other words the role of Statement of Financial Accounting
Standards (SFAS) lead to the treatment of the accounting records of
the economic resources that each part is in the correct position and
right. Statement of Financial Accounting Standards (SFAS) can also
provide guidance for us about how economic resources should be
recorded and, if there is a change of how to record and when it is
recorded and how should we rearrange and present financial
statements. Statement of Financial Accounting Standards (SFAS)
also helps resolve issues related to the disclosure in the event of
irregularities in the financial statements presented. Statement of
Financial Accounting Standards (SFAS) will be instrumental in
preparing and presenting financial statements that led to the
systematic creation of financial information that is accurate and
trustworthy so that it can assist decision makers in making the right
decisions for the survival of a business. SFAS convergence to IFRS In
accordance with SFAS convergence roadmap to IFRS (International
Financial Reporting Standards) then Indonesia has entered the final
preparation stage in 2011 after previously through the adoption
phase (2008-2010). Only one year alone IAI (Institute of Accountants
Indonesia) targets this final preparation stage, because after that
the official per January 1, 2012 Indonesia to apply IFRS. With the
global standard that allows comparability and exchange of
information universally.
IFRS convergence can improve the information from the
financial statements of the companies that exist in Indonesia.

Adoption of international standards is also very important in order to


stabilize the economy. Benefits of IFRS convergence program is
expected to reduce investment barriers, improving the transparency
of the company, reducing the costs associated with the preparation
of financial statements, and reduce the cost of capital. While the
end goal of financial statements prepared under Financial
Accounting Standards (IFRSs) will only require a little reconciliation
to produce financial statements under IFRS. IFRS convergence
target in 2012 is to revise IAS to conform to IFRS January 1, 2009
version, which became effective in 2011/2012 and IFRS
convergence in Indonesia carried out gradually. Indonesia has
adopted IFRS in full in 2012, the adoption of the strategy
undertaken for the convergence of two kinds, namely big bang
strategy and gradual strategy. Big bang strategy fully adopt IFRS at
once without going through certain stages. This strategy is used by
the developed countries. While the gradual strategy, adoption of
IFRS done gradually. This strategy was used by developing countries
such as Indonesia.

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