Dynamic Divestures: A Codification Exercise on the Reporting of Discontinued Operations

ABSTRACT This instructional case discusses a hypothetical scenario of a global conglomerate that has recently divested operations for three different subsidiaries. Students are required to determine the appropriate general financial statement presentation of the different subsidiaries in the consolidated income statement of the conglomerate. The case expands students' understanding of the accounting for discontinued operations, a financial accounting topic that has recently changed, and develops their research skills within the Financial Accounting Standards Board's (FASB) Accounting Standards Codification®. Furthermore, the case allows students to practice applying judgment to unique and complex situations within the accounting environment.

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ANALISIS PENYAJIAN LAPORAN KEUANGAN PADA PT.MULTISARANA BAHTERAMANDIRI BERDASARKAN PSAK NO.1 DAN NO.2

GOING CONCERN : JURNAL RISET AKUNTANSI ◽

10.32400/gc.8.4.25116.2013 ◽

2013 ◽

Vol 8 (4) ◽

Author(s):

Mizaco Ofayda Darmawan ◽

Agus Toni Poputra ◽

Winston Pontoh

Keyword(s):

Cash Flow ◽

Descriptive Analysis ◽

Accounting Standards ◽

Financial Statements ◽

Theory And Practice ◽

Financial Accounting ◽

Financial Statement ◽

Financial Position ◽

Income Statement ◽

The Difference

Statement of Financial Accounting Standards (SFAS) number 1 and 2 states that financial statements should present fairly the financial position, financial performance, changes in equity and cash flow. Companies to implement SFAS correctly with the required disclosures in the Notes to the Financial Statements. Objects in this research is PT.Multisarana Bahteramandiri. The purpose of this study is to analyze the financial statement presentation PT.Multisarana Bahteramandiri under SFAS Number 1 and 2. The method used is descriptive analysis method is an analytical tool that compares two different aspects of theory and practice that need to be met in order to know the difference, as far as what the difference is. Results of the analysis of these data showed that PT.Multisarana Bahteraamandiri not fully implemented SFAS number 1 and 2 in the company's financial statement presentation. Because the company only present a statements of financial position, income statement, cash flow statement, as well as company-specific notes. The company also not disclose a statement of compliance with the Statement of Financial Accounting Standards (SFAS) number 1 and 2 in the notes to financial statements.

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Penyusunan Laporan Keuangan Pada Sumurboto Stationery Semarang Tahun 2016 Berdasarkan Sak Etap

Jurnal Aktual Akuntansi Keuangan Bisnis Terapan (AKUNBISNIS) ◽

10.32497/akunbisnis.v1i1.1227 ◽

2018 ◽

Vol 1 (1) ◽

Author(s):

Lasa Laksita ◽

Adilistiono Adilistiono

Keyword(s):

Cash Flow ◽

Balance Sheet ◽

Accounting Standards ◽

Financial Statements ◽

Financial Accounting ◽

Financial Statement ◽

Public Accountability ◽

Final Project ◽

Income Statement ◽

Cash Flow Statement

Financial statement preparation is very important because it can describe the finance of an entity and as a basis for decision making. The purpose of this Final Project is to prepare the company's financial statements consisting of Balance Sheet, Income Statement, Statement of Changes in Equity and Cash Flow Statement based on Financial Accounting Standards of Entities Without Public Accountability (SAK ETAP), with the result that assist Sumurboto Stationery in preparing financial statements. Interview and documentation are used in data collection method. On the other hand, this Final Project used description and exposition method for the writing method. The result of this Final Project is to gain the knowledge in how have Sumurboto Stationery done their financial statement preparation in 2016 based on Financial Accounting Standards of Entities Without Public Accountability (SAK ETAP) that consisting of Income Statement, Statement of Changes in Equity, Balance Sheet and Cash Flow Statement. Hopefully, Sumurboto Stationery can be able to prepare their financial statement for the next period in accordance with Financial Accounting Standards of Entities Without Public Accountability (SAK ETAP)

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RANCANGAN PENYUSUNAN LAPORAN KEUANGAN BERBASIS MICROSOFT ACCES BERDASARKAN SAK EMKM PADA UKM DEWI PROL TAPE

El Muhasaba Jurnal Akuntansi ◽

10.18860/em.v10i1.5800 ◽

2019 ◽

Vol 10 (1) ◽

pp. 63

Author(s):

Fitroh Marga Mila Aria Admaja ◽

Ulfi Kartika Oktaviana

Keyword(s):

Accounting Standards ◽

Financial Statements ◽

Financial Accounting ◽

Financial Statement ◽

Study Approach ◽

Microsoft Access ◽

Income Statement ◽

Collection Data ◽

The Cost

Dewi Prol Tape is one of Micro Small and Medium Entities which already have Micro Small Business Permit (IUMK) and turnover which increase every year. With administrative completeness as well as a good turnover increase, in the preparation of its financial statements are still not compiled well and in accordance with SAK EMKM. The preparation of the required financial statements is software-based for easy use by the UKM. Software used is microsoft acces where in operation does not require high accounting skills and does not require the cost to get it.So with that background this research is done with the title: "Design of Preparation of Financial Statements Based in Microsoft Access Based on Financial Accounting Standards of Small and Medium Entities (SAK EMKM) at UKM Dewi Prol Tape".This research used qualitative method with case study approach. The location of the research is UKM Dewi Prol Tape located on Danau Paniai street 2 c7 e5 Sawojajar, Madyopuro, Kedungkandang, Malang City. The subject of research is the owner of UKM Dewi Prol Tape. The data was collected by triangulation method. Data analysis methods that used consist of: data collection, data reduction, data presentation and conclusion.The result of the research shows that the design of preparation of financial statements based in Microsoft access based on Financial Accounting Standards of Small and Medium Entities (SAK EMKM) for UKM Dewi Prol Tape is: report of cost of goods manufactured, income statement, statement of financial position and notes to financial statement. And the obstacles that faced in the presentation of financial statements are: a) lack of human resources in preparing financial statements, b) lack of knowledge of Financial Accounting Standards of Small and Medium Entities (SAK EMKM).

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Managing Pro Forma Stock Option Expense under SFAS No. 123

Accounting Horizons ◽

10.2308/acch.2003.17.1.31 ◽

2003 ◽

Vol 17 (1) ◽

pp. 31-45 ◽

Cited By ~ 39

Author(s):

Steven Balsam ◽

Haim A. Mozes ◽

Harry A. Newman

Keyword(s):

Small Firms ◽

Stock Option ◽

Financial Accounting ◽

Financial Statement ◽

First Year ◽

Parameter Estimates ◽

Option Value ◽

Income Statement ◽

Options Value ◽

Pro Forma

We investigate whether footnote disclosures under Statement of Financial Accounting Standards (SFAS) No. 123 are managed in 1996, the first year that the disclosure was required. The 1996 phase-in of SFAS No. 123 provided firms with a unique opportunity to manipulate the pro forma disclosure in the initial years. SFAS No. 123 allows firms discretion in estimating the value of their stock option grants and in allocating that value across accounting periods. Although we find little evidence that firms manage the estimated value of their option grants, we find that firm-specific incentives affect how that value is allocated. Specifically, firms that provide high levels of either CEO compensation or stock option compensation relative to performance allocate a smaller proportion of the options' value to the 1996 pro forma expense, apparently to reduce criticism of that compensation. Small firms and firms that recently went public also allocate a smaller proportion of option value to the 1996 pro forma expense, apparently to increase perceptions of their profitability. We conjecture that firms were less likely to manage the value of the options granted than the allocation of that value in 1996 because the parameter estimates underlying the reported option value must be disclosed in the footnote, whereas the inputs to the allocation computation are not disclosed. These results, which suggest that firms manipulated pro forma stock option expense when their estimate choices cannot be observed, have implications for both standard setters and financial statement users. In particular, the FASB's current deliberations on the transition from footnote disclosure to income statement recognition for stock options should consider additional disclosures to minimize unobservable choices. More generally, the FASB may reduce potential manipulation by requiring expanded disclosures about the choices used in computing both pro forma and reported numbers.

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Inferring U.S. Tax Liability from Financial Statement Information

Journal of the American Taxation Association ◽

10.2308/jata.2009.31.1.29 ◽

2009 ◽

Vol 31 (1) ◽

pp. 29-63 ◽

Cited By ~ 23

Author(s):

Petro Lisowsky

Keyword(s):

Stock Options ◽

Accounting Standards ◽

Financial Statements ◽

Income Taxes ◽

Financial Accounting ◽

Financial Statement ◽

Corporate Tax ◽

Data Set ◽

Accounting For Income Taxes ◽

Tax Expense

Abstract: Using a multi-year matched tax return-financial statement data set, this study builds empirical models that infer U.S. tax liability on the corporate tax return from publicly available financial statement disclosures, including those of Statement on Financial Accounting Standards No. 109, Accounting for Income Taxes. Results show that current U.S. tax expense, the tax benefit from stock options, current-year tax cushion accrual, consolidation book-tax differences, and R&D are informative in inferring actual tax, while intraperiod tax allocation is not. Additionally, the sign of pretax book income and the existence of net operating loss carryforwards are useful partitioning variables in estimating actual tax. In general, for every dollar of current U.S. tax expense reported on the financial statements, approximately $0.70 is reported in U.S. tax liability on the tax return. The models are validated using a holdout sample, providing support for the notion that public parties can reliably use these results to estimate a firm's tax position. Additional tests reveal a hierarchy of subsamples that researchers may employ when maximizing the usefulness of tax-related disclosures in inferring U.S. tax liability.

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EVALUASI STANDAR AKUNTANSI KEUANGAN ENTITAS MIKRO KECIL DAN MENENGAH (SAK EMKM) TAHUN 2018 PADA USAHA SINAR TERANG DI SAMARINDA

Research Journal of Accounting and Business Management ◽

10.31293/rjabm.v3i1.4215 ◽

2019 ◽

Vol 3 (1) ◽

pp. 152

Author(s):

Pandu Prahadi Pangestu, Elfreda Aplonia Lau, Sunarto

Keyword(s):

Accounting Standards ◽

Financial Statements ◽

Financial Accounting ◽

Financial Statement ◽

Analysis Technique ◽

Descriptive Method

This study aims to evaluate whether the recognition of items in financial statements, measurement of financial statement elements, presentation of items in financial statements and disclosure of financial statements in Sinar Terang Business are in accordance with the provisions in Micro, Small and Medium Entity Financial Accounting Standards (SAK EMKM) 2018.The theory used in this study is financial accounting. The hypothesis stated is the recognition of accounts in financial statements, measurement of financial statements, presentation of items in financial statements, and disclosure of financial statements not in accordance with the 2018 Micro, Small and Medium Entity Accounting Standards (SAK EMKM).The analysis technique used in this study is a comparative descriptive method, which is a method that compares accounting treatment that includes recognition, measurement, presentation and disclosure based on SAK EMKM 2018 with recognition, measurement, presentation and disclosure in Sinar Business and Champion methods for calculating checklist value in determining conformity criteria.The results of the study indicate that the recognition and measurement of the items in the financial statements of Sinar Terang Business are not in accordance with SAK EMKM. Whereas the presentation and disclosure of financial statements for Sinar Terang Business do not match the SAK EMKM

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Analysis Of Presentation Of Sharia Financial Statements According To Psak 101 At Pt. Mandiri Sharia Bank

International Journal of Science, Technology & Management ◽

10.46729/ijstm.v2i4.283 ◽

2021 ◽

Vol 2 (4) ◽

pp. 1175-1183

Author(s):

Fera Riske Anggita ◽

Tommy Kuncara

Keyword(s):

Accounting Standards ◽

Secondary Data ◽

Financial Statements ◽

Relevant Information ◽

Financial Accounting ◽

Financial Statement ◽

Islamic State ◽

Literature Study ◽

Financial Position ◽

Other Information

The presentation of Islamic Financial Statements has been regulated in PSAK 101 and every bank needs to refer to it. As we know, PT Bank Syariah Mandiri is the number 1 largest Islamic bank in Indonesia and other information obtained by researchers, PT Bank Syariah Mandiri will merge with 2 other Islamic state-owned banks, namely PT Bank BNI Syariah and PT Bank BRI Syariah. Therefore, researchers are interested in examining whether the financial statements of PT Bank Syariah Mandiri are appropriate in applying the application of Financial Accounting Standards 101. The types of data used are qualitative and quantitative data, the data used are general company information and company financial statement information in 2019. Sources the data used is secondary data. The data collection method is literature study. In the financial statements of PT Bank Syariah Mandiri, the bank has reported all components of the financial statements in PSAK 101. In the Statement of Financial Position PT Bank Syariah Mandiri does not include the Istishna Assets in Settlement and Salam Receivable accounts in the Statement of Financial Position, but in PSAK 101 Paragraph 61 explains Statement of Financial Accounting Standards 101 does not regulate the composition or format of presentation of statement of financial position items. PT Bank Syariah Mandiri continues to present relevant information on the Statement of Financial Position. However, in PSAK 101 Paragraph 61 explaining the Statement of Financial Accounting Standards 101 does not regulate the composition or format of the presentation of the statement of financial position. PT Bank Syariah Mandiri continues to present relevant information on the Statement of Financial Position. However, in PSAK 101 Paragraph 61 explaining the Statement of Financial Accounting Standards 101 does not regulate the composition or format of the presentation of the statement of financial position. PT Bank Syariah Mandiri continues to present relevant information on the Statement of Financial Position.

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ANALISIS PENYAJIAN LAPORAN KEUANGAN BERDASARKAN PENERAPAN STANDAR AKUNTANSI KEUANGAN ENTITAS TANPA AKUNTABILITAS PUBLIK PADA PT. FORTUNA INTI ALAM

GOING CONCERN : JURNAL RISET AKUNTANSI ◽

10.32400/gc.12.01.17131.2017 ◽

2017 ◽

Vol 12 (01) ◽

Author(s):

Marddyanto Dwi Saputra ◽

Jullie J. Sondakh ◽

Treesje Runtu

Keyword(s):

Decision Making ◽

Cash Flow ◽

Descriptive Analysis ◽

Accounting Standards ◽

Financial Statements ◽

Financial Accounting ◽

Financial Statement ◽

Public Accountability ◽

Financial Situation ◽

Chartered Accountants

The financial statements in principle are the result of the accounting process used to communicate the financial situation to internal and external parties that are aimed at decision making. The importance of the financial statements, then the financial statement should be prepared carefully and without errors. Financial Accounting Standards generally are not in accordance with entities whose accountability is not as significant. Therefore, the Institute of Indonesia Chartered Accountants (IAI) has issued Financial Accounting Standards Entity Without Public Accountability (SAK ETAP) intended for entities that do not have significant public accountability and publish financial statements for general purposes for external users. This study aims to analyze the implementation of ETAP in the presentation of PT. Fortuna Inti Alam’s financial statement. The method used in this study is comparative descriptive analysis. Results of this research is based on the financial statements of 2016 show that PT. Fortuna Inti Alam has implemented ETAP but it is not fully complete yet. The Company has not presented Statement of Owner’s Equity, Cash Flow Statement, and Notes to Financial Statements. This research suggests that companies can prepare components of other financial statements in accordance with applicable standards.Keywords : Financial Statements, SAK ETAP.

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New financial statement reporting requirements for healthcare entities and insurers

Journal of Hospital Administration ◽

10.5430/jha.v2n3p21 ◽

2013 ◽

Vol 2 (3) ◽

pp. 21

Author(s):

Alan Reinstein ◽

Natalie Tatiana Churyk

Keyword(s):

Health Care ◽

Accounting Standards ◽

Financial Accounting ◽

Financial Statement ◽

Financial Accounting Standards Board ◽

Reporting Requirements ◽

The Future

Since 2010, the Financial Accounting Standards Board issued several Accounting Standards Updates [ASUs] and other Authoritative Standards that affect Health Care Entities and Insurers, requiring them to more consistently account for and disclose their reporting of charitable and other costs. Also, in light of the main portions of Obama Care becoming effective in 2014, the FASB required such entities to more consistently and broadly disclose how they account for their bad debts, especially since the new law will limit such payments in the future. This article summarizes the provisions of the new Standards and provides examples of their application, in order to help health care entities and insurers understand the new provisions and implications.

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IMPLEMENTASI SAK SYARIAH DALAM LAPORAN KEUANGAN KOPERASI PENGKREDITAN RAKYAT SYARIAH (KPRS)

El Muhasaba Jurnal Akuntansi ◽

10.18860/em.v11i2.8045 ◽

2020 ◽

Vol 11 (2) ◽

pp. 123-132

Author(s):

Nimatul Ula ◽

Nawirah Nawirah

Keyword(s):

Qualitative Research ◽

Balance Sheet ◽

Accounting Standards ◽

Financial Statements ◽

Financial Accounting ◽

Financial Statement ◽

Online Data ◽

Financial Reports ◽

Financial Report ◽

Financial Position

The purpose of this study is to determine the suitability of the presentation of the An-Nahl Pandaan KPRS financial statements to Syaria FAS. This research uses descriptive qualitative research in which the purpose is to describe and illustrate the application of Sharia Financial Accounting Standards in terms of the financial statements prepared by KPRS An-Nahl Pandaan. The techniques used in data collection are through observation, interviews, documentation, and online data search techniques. The results of the analysis and discussion of this study indicate that most of the financial statement presentations in KPRS An-Nahl are in accordance with Sharia FAS even though only the entity only reports the financial position (Balance Sheet). From the An-Nahl KPRS financial report that looks very prominent the discrepancy is that An-Nahl KPRS does not make the six other financial report components listed in the Sharia FAS because the KPRS An-Nahl management itself does not yet understand how to prepare financial reports in accordance with applicable standards.

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