Towards enhancing tax abatement transparency: Reviewing the promises and limitations of GASB 77

2017 ◽  
Vol 29 (4) ◽  
pp. 439-463
Author(s):  
Geoffrey Propheter
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Reports ◽  
Government Accounting ◽  
Tax Abatements ◽  
Tax Expenditure ◽  
Accounting Environment ◽  
Expenditure Reporting ◽  
The Government ◽  
Tax Abatement

AbstractIn August 2015, the Government Accounting Standards Board (GASB) adopted Statement 77, requiring government disclosure in audited financial reports of a particular type of tax expenditure, tax abatements. GASB's reporting standards move tax abatements from a budgetary environment to an accounting environment. This paper evaluates GASB 77's provisions to encourage an early and on-going dialogue about the Statement's prospects for achieving greater transparency compared to existing tax expenditure reporting efforts. We conclude that GASB 77 will be most beneficial to consumers of financial information in medium and large jurisdictions where there is no alternative tax abatement disclosure platform, or where the alternative offers less transparency than what can be achieved through financial reporting.

Unfunded Public Employee Health Care Benefits and GASB No. 45

2007 ◽  
Vol 21 (3) ◽  
pp. 245-263 ◽  
Author(s):  
Elizabeth K. Keating ◽  
Eric S. Berman
Keyword(s):  
Health Care ◽  
Financial Reporting ◽  
Full Range ◽  
Financial Reports ◽  
Employment Benefits ◽  
Care Plans ◽  
Advantages And Disadvantages ◽  
Government Accounting ◽  
The Government ◽  
The Impact

The Government Accounting Standards Board (GASB) recently released Statement No. 45, Accounting and Financial Reporting by Employers for Post-Employment Benefits Other Than Pensions and its companion Statement No. 43 for pooled stand-alone health care plans, which will profoundly affect American governmental finance. The goal of this article is to encourage governments to consider carefully a full range of options in funding and restructuring other post-employment benefits (OPEB). This article will review Statement No. 45's potential impact on governments and review existing disclosures in financial reports as well as bond offering statements. The article will discuss the statement's impact on budgets and governmental operations, including collective bargaining. Funding options under Statement No. 45 will be detailed, including the advantages and disadvantages of irrevocable trusts and OPEB bonds. The article will also discuss the impact of Medicare Part D subsidies received by governments, as well as the bond rating implications of policy decisions surrounding OPEB. As the largest government entities are just now implementing GASB Statement No. 45, estimates of the magnitude of unfunded OPEB liabilities are limited as are the strategies likely to be adopted to cover these obligations. This article offers a summary of the unfunded OPEB liabilities reported by states and major cities and suggests some measures for assessing the ability of these entities to address these costs.

scholarly journals The Role of Financial Accounting Standards for Small And Medium Micro Economic Sectors

2019 ◽  
Vol 8 (3) ◽  
pp. 17-23
Author(s):  
Ahmad Mukoffi ◽  
Yayuk Sulistiyowati
Keyword(s):  
Financial Reporting ◽  
Free Market ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Economic Sectors ◽  
Financial Reports ◽  
Strategy Model ◽  
Food And Beverage ◽  
The Government

In the preparation of financial statements based on financial accounting standards is an improvement in quality of financial statements, which will leverage the credibility of the financial statements in question. The research’s object to be studied are MSMEs in Food and Beverage Sector. The formulation of the problem in this study is, a. How is the preparation of MSME financial statements in the Food and Beverage sector based on EMKM SAK in Tlogomas Sub-District, Malang City, b. What are the constraints faced by MSMEs in the Food and Beverage Sector in implementing EMKM SAK in Tlogomas Sub-District Malang, c. What strategy model is effective from the government so that MSMEs can apply the SAK EMKM optimally. This research method used a combination of research methods (Mixed Methods). With adequate accounting, MSME entrepreneurs can fulfill the requirements in applying for credit, such as making financial reports. The researcher offers a model for the application of electronic-based financial reporting, this is to attract investors to contribute their capital, considering that currently entering the free market. This program also makes easier for the Bank to read the financial statements of micro entities.

scholarly journals Pengaruh Proses Reviu Terhadap Kualitas Laporan Keuangan Pemerintah Daerah

2018 ◽  
Vol 23 (1) ◽  
pp. 41-54
Author(s):  
Aan Juanda ◽  
Pigo Nauli
Keyword(s):  
Local Government ◽  
Quantitative Research ◽  
Accounting Standards ◽  
Financial Statements ◽  
Survey Method ◽  
Financial Reports ◽  
Government Accounting ◽  
Review Team ◽  
The Government

This study aimes to determine the effect of financial statements review on the quality of local financial statement reports with an understanding of the goverment accounting standards as a moderation variable. This research is a quantitative research, with survey method conducted through questionnaire. The population in this study are all inspectorate in all regions of the Province of Lampung. Respondents in this study are all functional officers and other officials who are members of the Review team at each inspectorate at all regions in Lampung Province. The result of data analysis shows that the process of review for local government financial statements has a positive effect on the quality of local government financial reports, and an understanding of the government accounting standards by APIP did not moderate the relationship between the review process with the quality of local government financial reports

scholarly journals Analisis penerapan standar akuntansi pemerintahan untuk belanja pada Dinas Kesehatan Kota Manado

2020 ◽  
Vol 2 (1) ◽  
pp. 44
Author(s):  
Jefri Fanuel Motoh ◽  
Jantje J Tinangon ◽  
Jessy D. L Warongan
Keyword(s):  
Public Health ◽  
Human Resources ◽  
Accounting Standards ◽  
Health Agency ◽  
Government Performance ◽  
Accounting Standard ◽  
Financial Reports ◽  
Government Accounting ◽  
State Finance ◽  
The Government

Government Accounting Standards is an accounting standard established to increase transparency in the management of state finances so that the use of state finance becomes more targeted and avoids various kinds of government financial misuse. The benefits of applying accrual-based Government Accounting Standards certainly make it easier for the government to evaluate financial reports on government performance, especially on human resources. The purpose of this study was to determine for expenditure at the Manado City Health Office in accordance with the application of accrual-bassed Government Accounting Standards. The results of the study on the Manado City in Public Health Agency have carried out the implementation of Government Accounting Standards for expenditure (cost realization), and accrual-based regulations have been implemented in accordance with the regulation of the Minister of Home Affairs Number 64 of 2013.

Faktor-Faktor Yang Mempengaruhi Penerapan Standar Akuntansi Pemerintah Pada Pemerintah Kota Baubau

Liquidity ◽  
2018 ◽  
Vol 3 (1) ◽  
pp. 11-18
Author(s):  
Khayatun Nufus
Keyword(s):  
Local Government ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
Government Performance ◽  
Regional Autonomy ◽  
Government Accounting ◽  
Accounting Principles ◽  
The Government

The Government Accounting Standards (SAP) is the accounting principles used for financial reporting and Government Performance. Regional autonomy encourage governments to make regulation in the management and reporting financial statements. The necessity and demands transparency of financial performance provides an overview of importance of local government accounting standards to be applied so that there will be uniformity in the assessment of local government performance. This paper presents the results that the quality of human resources, and political simultaneously significant effect on the implementation of SAP in the Baubau Municipality.

scholarly journals PENGARUH SISTEM AKUNTANSI PEMERINTAH DAN SISTEM PELAPORAN TERHADAP AKUNTABILITAS KINERJA INSTANSI PEMERINTAH KOTA BENGKULU

2015 ◽  
Vol 3 (1) ◽  
Author(s):  
Rina Yuniarti
Keyword(s):  
Government Regulation ◽  
Accounting Standards ◽  
City Government ◽  
Accounting System ◽  
Financial Reports ◽  
Accounting Systems ◽  
Government Accounting ◽  
Performance Accountability ◽  
Government Data ◽  
The Government

Rina Yuniarti; Based on Government Regulation No. 24 Year 2005 regarding the Government Accounting Standards (SAP). Government Accounting Standards are accounting principles applied in preparing and presenting the financial statements of the government. Thus, the Government Accounting Standards are requirements that have the force of law in an effort to improve the quality of financial reports of government agencies. good reporting system is needed in order to monitor and control the performance of managers in implementing budget diterapkan.Penelitian aims to determine the effect of government accounting systems and reporting on performance accountability system. The research sample SKPD in Bengkulu city government. Data analysis technique used is the regression berganda.Hasil this study indicate that the government accounting system affect the performance accountability and reporting systems and the effect on performance accountabilityKey words: Government Accounting System, System Reporting, PerformanceAccountability

scholarly journals The Application of Accounting Standards in Government Accounting Accrual Basis: Health Laboratory Center for Makassar

2019 ◽  
Vol 9 (4) ◽  
pp. 231
Author(s):  
Andi Asirah ◽  
Andi Ratna Sari
Keyword(s):  
Financial Reporting ◽  
Government Regulation ◽  
Accounting Standards ◽  
Financial Statements ◽  
Accounting System ◽  
Governmental Accounting ◽  
Government Accounting ◽  
Accrual Basis ◽  
The Republic ◽  
The Government

The purpose of this study was to analyze the constraints in the implementation of Government Accounting Standards (SAP) based on the accrual basis as well as to analyze the efforts made to overcome the existing obstacles in the implementation of Government Accounting Standards (SAP) based on the accrual basis. The Indonesian Governmental Accounting Standards Committee (KSAP) has compiled the Government Accounting Standards (SAP) accrual established by Government Regulation Number. 64 of 2013 replacing by the Government Regulation Number 71 of 2010. With the enactment of Government Regulation No. 64 of 2013, the application of accrual-based government accounting standards already have a legal basis. The enactment of Government Regulation No. 64 Year 2013 on Government Accounting Standards (SAP) based on the accrual basis brought major changes in the financial reporting system in Indonesia, which is a change from Cash Basis Accrual Basis Full towards the recognition of government financial transactions. Health laboratory center for Makassar has implemented Cash to Accrual (CTA) in 2011 until 2013.Implemented government accounting standards (SAP) based on the accrual basis in the accrual-based financial statements in 2014 is a qualified opinion (WDP ) acquired by the Health laboratory center for Makassar on The Audit Board of The Republic Indonesia (BPK) audit report on the financial statements 2016 illustrate unmet reasonable levels of information presented for a particular item. From the research will be found two (2) factors; Regional Working Unit (SKPD) Health Laboratory Center for Makassar obstacles encountered in implementing accrual-based government accounting system (SAP), human resources financial managers, and human resource asset managers who often alternated. In this study, researchers found the effort / solution by the Health Laboratory Center for Makassar on obstacles in implementing accrual-based SAP in the preparation of financial statements, namely: education and training.

scholarly journals ZAKAT AS LOCALLY-GENERATED REVENUE: ITS ACCOUNTING TREATMENT AT BAITUL MAL ACEH

2020 ◽  
Vol 9 (2) ◽  
pp. 184
Author(s):  
Armiadi Musa
Keyword(s):  
Financial Reporting ◽  
Balance Sheet ◽  
Accounting Standards ◽  
Financial Statements ◽  
Descriptive Study ◽  
Financial Accounting ◽  
Government Accounting ◽  
The Government ◽  
Government Body ◽  
Government Institution

In Aceh, Indonesia, zakat is included as a locally-generated revenue (Pendapatan Asli Daerah – PAD) and it is managed by a government body called Baitul Mal. As a government institution, Baitul Mal is obligated to present financial statements according to Government Accounting Standards (Standar Akuntansi Pemerintah - SAP). This article reports the findings of the accounting treatment for zakat financial statements in Baitul Mal Aceh. Baitul Mal Aceh as the government zakat institution is annually required to disclose two different financial statements, both financial statements based on Government Accounting Standards (SAP) and based on a statement of financial accounting standards 109 (PSAK 109). Therefore, the purpose of this study is to investigate the compliance of Baitul Mal Aceh with SAP dan PSAK 109 in zakat financial reporting. This research is a descriptive study from the data obtained through field study. The results showed that Baitul Mal Aceh has implemented both SAP and PSAK 109 in presenting the financial statements regardless of some items that might not be in accordance with the standards. In financial statements based on SAP, a variance was found in the presentation of information related to the procurement of assets and the details of the depreciation. As for the financial statements based on PSAK 109, it has been presented from 2012 to 2017. From the available data, there are some differences in the disclosure compared to PSAK 109. Amil funds and non-halal funds were not disclosed in the balance sheet as well as there was no statement of changes in assets under management. Moreover, these financial statements were not presented in the last two years due to limited supporting facilities/devices and human resources.========================================================================================================Zakat sebagai Pendapatan Asli Daerah: Perlakuan Akuntansinya pada Baitul Mal Aceh. Di Aceh, Indonesia, zakat dimasukkan sebagai salah satu Pendapatan Asli Daerah (PAD) yang dikelola oleh sebuah institusi pemerintah yang disebut Baitul Mal. Sebagai badan pemerintah, Baitul Mal diwajibkan untuk membuat laporan keuangannya sesuai dengan Standar Akuntansi Pemerintah (SAP). Artikel ini menyajikan temuan dari perlakuan akuntansi pada laporan keuangan zakat di Baitul Mal Aceh. Baitul Mal Aceh sebagai lembaga amil zakat pemerintah diwajibkan menyajikan dua laporan keuangan yang berbeda setiap tahunnya, yaitu laporan keuangan menurut Standar Akuntansi Pemerintahan (SAP) dan menurut Pernyataan Standar Akuntasi Keuangan Nomor 109 (PSAK 109). Untuk itu, tujuan dari penelitian ini adalah untuk menginvestigasi kepatuhan Baitul Mal Aceh dengan SAP dan PSAK 109 dalam penyajian laporan keuangan zakat. Penelitian ini adalah studi deskriptif berdasarkan data yang diperoleh dari studi lapangan. Hasil penelitian menunjukkan bahwa Baitul Mal Aceh telah menerapkan sistem pelaporan sesuai dengan kedua standar yang dimaksud meskipun masih terdapat beberapa item yang tidak sesuai. Pada pelaporan keuangan menurut SAP, masih ditemukan ketidaksesuaian dalam penyajian informasi terkait pengadaan aset dan rincian penyusutannya. Adapun untuk laporan keuangan dengan PSAK 109, Baitul Mal Aceh sudah pernah menyajikannya dari tahun 2012-2017. Dari data yang tersedia, terdapat beberapa ketidaksesuaian penyajian laporan keuangan dengan PSAK 109. Dana amil dan dana non-halal tidak disajikan dalam laporan posisi keuangan serta tidak ada laporan perubahan aset kelolaan. Bahkan dalam dua tahun terakhir, tidak ada penyajian laporan keuangan ini dikarenakan keterbatasan sarana/perangkat pendukung dan sumber daya manusia yang tersedia.

scholarly journals The Effect of Application of Accrual-Based Government Accounting Standards, Apparatus Quality, Public Accountability and Government Internal Control Systems on Quality of Financial Statements

2020 ◽  
Vol 5 (8) ◽  
pp. 452-460
Author(s):  
Triana Meinarsih ◽  
Adji Suratman ◽  
Nuzulul Hidayati
Keyword(s):  
Control Systems ◽  
Internal Control ◽  
Accounting Standards ◽  
Financial Statements ◽  
Public Accountability ◽  
Financial Reports ◽  
Government Accounting ◽  
Internal Control System ◽  
The Government

This study aims to look at the effect of implementing accrual-based government accounting standards, apparatus quality, public accountability and the Government Internal Control System on the quality of financial statements based on previous research. The study was conducted by examining articles relating to the variables of the application of accrual-based government accounting standards, apparatus quality, public accountability and Government Internal Control Systems that affect the quality of financial reports. Articles with appropriate titles are then collected for later review. Articles collected from 2010-2019 (ten years), with the consideration that the article is still quite relevant to the current conditions. Based on the articles that have been implemented, it can be concluded that the application of accrual-based government accounting standards, apparatus quality, public accountability and the Government Internal Control System have an effect on the quality of financial reports.

scholarly journals THE EFFECT OF GOVERNMENT ACCOUNTING STANDARDS AND GOVERNMENT INTERNAL CONTROL SYSTEMS ON THE QUALITY OF LOCAL GOVERNMENT FINANCIAL STATEMENTS

2019 ◽  
Vol 1 (02) ◽  
pp. 108-111
Author(s):  
Endang Darmawan
Keyword(s):  
Local Government ◽  
Control Systems ◽  
Internal Control ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Reports ◽  
Government Accounting ◽  
Internal Control System ◽  
The Government

This study aims to determine how the influence of the adoption of government accounting standards and internal control systems of the government on the quality of local government financial reports on the SKPD in Bandung. The research method used in this study is the explanatory method. The results showed that partially and simultaneously the application of government accounting standards and the government's internal control system affected the quality of local government financial reports.

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