scholarly journals ENTITAS TANPA AKUNTABILITAS PUBLIK (ETAP) DI PERSIMPANGAN UNDANG – UNDANG PERKOPERASIAN (Telaah kritis keterterapan ETAP dalam Pelaporan Keuangan Koperasi)

2019 ◽  
Vol 4 (02) ◽  
Author(s):  
IBK Bayangkara
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Relevant Information ◽  
Literature Study ◽  
Reporting Standard ◽  
Financial Reports ◽  
Study Approach ◽  
New Finding

ABSTRACT This study aims to examine the adequacy of SAK ETAP as a cooperative financial reporting standard in Indonesia. With a literature study approach, the authors examine the ability of SAK ETAP in meeting the provisions of Law No. 25 of 1992 concerning Cooperatives, as well as comparing them to PSAK 27 concerning Cooperatives that have been revoked. This research found that to date SAK ETAP has not been able to meet the provisions of Law No. 25 of 1992 in cooperative financial reporting because it does not explicitly present members' economic promotion reports, which is very important information that must be presented to users of cooperative financial statements. This is a new finding because research on the adequacy of SAK ETAP as a cooperative financial reporting standard has never been done before. The results of this study have implications for the obligations of the IAI Standards Board to immediately adjust SAK ETAP to be able to meet the needs of users of cooperative financial reports on relevant information as a basis for making decisions. Keywords: ETAP, Cooperatives, Financial Statements, Act 25 1992, Promotion of Members' Economy

scholarly journals PROCEDURES FOR PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

2021 ◽  
pp. 217-226
Author(s):  
Лэйля Камаровна Мусипова
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Reporting Standards ◽  
Consolidated Financial Statements ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Financial Reports ◽  
Financial Reporting Standards ◽  
Business Structures ◽  
Performance Results

Помимо обычной финансовой отчетности некоторые предприятия Казахстана обязаны формировать и предоставлять консолидированную финансовую отчетность согласно требованиям международных стандартов финансовой отчетности. Статья посвящена особенностям составления и представления консолидированной отчетности в соответствии с международным стандартом финансовой отчетности 10 (IFRS) «Консолидированная финансовая отчетность». Целью исследования является рассмотреть понятие консолидированной отчетности, требования по ее составлению, порядок формирования и провести анализ потребность в составлении и представлении консолидированной финансовой отчетности. Наряду с этим представлена практика полной консолидации на условном примере с учетом требований международных стандартов финансовой отчетности, а также проблемы, с которыми сталкиваются представители бизнес-структур при формировании и представлении консолидированной финансовой отчетности. Научная новизна полученных результатов заключается в разработке приемов и методов составления и совершенствования консолидированной отчетности, которая позволит преодолеть сложности при формировании результатов деятельности за определенный отчетный период группы в целом. Along with the standard financial reports, some enterprises in Kazakhstan are required to form and submit consolidated financial reports in accordance with the requirements of international financial reporting standards. The article is devoted to the peculiarities of creating and presenting consolidated financial reports in accordance with International Financial Reporting Standard 10 (IFRS) «Consolidated Financial Reporting». The aim of the study is to examine the concept of consolidated financial statements, the requirements for its formation, and the analysis of the need for the preparation and presentation of consolidated financial statements. In addition, the practice of full consolidation was studied and presented on the example of all the consolidation requirements of IFRS 10 (IFRS) «Consolidated Financial Reporting», as well as various issues business structures deal with during the process of formation and presentation of consolidated financial statements. The scientific novelty of the results obtained is the development of techniques and methods for the preparation and improvement of consolidated reporting, which makes it possible to overcome the complexity of the formation of performance results for a certain reporting period of the group as a whole.

scholarly journals Adoption of IFRS for SMEs in Albania

2021 ◽  
Vol 12 (2) ◽  
pp. 158
Author(s):  
Albana Gjoni ◽  
Shpresa Cela ◽  
Drini Salko ◽  
Migena Qerimi
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Reporting Quality ◽  
Financial Statements ◽  
Financial Reporting Quality ◽  
International Accounting Standards ◽  
Reporting Standard ◽  
Financial Reports ◽  
Financial Reporting Standards ◽  
National Economic

Small Medium-Sized Enterprises (SMEs) is one of the most important engines of economic growth in Albania. They make a significant contribution to local and global trade and also to the national economic development. SMEs have the largest proportion of total Albanian employment, almost 78% of the total number of employed people. They generally face difficulties in financing and investing decisions, globalization, and other matters, mainly because of their inappropriate formal financial reports. These enterprises must prepare adequate financial statements and proper accounts to deal with third parties’ needs and ensure stakeholder’s confidence. This requires financial statements to be prepared by international financial reporting standards (IFRS), national accounting standards, and local government laws. Therefore, the International Accounting Standards Board (IASB) provided a new standard to ensure the required financial reporting quality for SMEs. The main focus of this study is to examine the attitudes of financial statement’s information’ users in Albania towards the adoption of this financial reporting standard for SMEs as progress on the general financial reporting process in Albania, and also to estimate their capabilities and interests on this matter.

scholarly journals International Financial Reporting Standard (IFRS) Adoption and Its Impact on Financial Reporting: Evidence from Listed Nigeria Oil and Gas Companies

2020 ◽  
Vol 9 (1) ◽  
pp. 464
Author(s):  
Murtala Zakari
Keyword(s):  
Financial Reporting ◽  
Oil And Gas ◽  
Financial Statements ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Financial Reports ◽  
Significance Level ◽  
Ifrs Adoption ◽  
Oil And Gas Companies ◽  
The Impact

This study seeks to investigate the impact of IFRS adoption on financial reporting in Nigeria Oil and Gas sector; whether it leads to significant financial reporting improvement in terms of value addition and quality; whether it reduces information asymmetry and increases investors’ confidence and understanding of the financial reports. To achieve this, data were collected from financial statements prepared using IFRS for the periods 2012-2016, and financial statements prepared using Nigeria GAAP for the periods 2007-2011, i.e. pre and post IFRS adoption in Nigeria for a period of 5years each. Analysis was conducted to test for the significance level of ROE, PAT/Sales, CA/CL, and debt-to-equity using mean, standard deviation of ratios, and T-test (paired) for both periods. The researcher found that Nigerian GAAP is more attractive and promising to shareholders than IFRS. In the same vein, IFRS is more attractive and promising to long term lenders than Nigerian GAAP. The study concludes that there is no significant financial reporting difference and quality as well as increased comparability and investors/shareholders return on investment, in adopting IFRS compare to the Nigerian GAAP by the listed Oil and Gas companies of Nigeria.

scholarly journals Fourth Quarter Earnings Volatility: Case of Firms Listed in DFM

2019 ◽  
Vol 9 (4) ◽  
pp. 351
Author(s):  
Nadia Sbei Trabelsi
Keyword(s):  
Conceptual Framework ◽  
Financial Reporting ◽  
Emerging Market ◽  
Accounting Standards ◽  
Direct Consequence ◽  
Financial Statements ◽  
Relevant Information ◽  
Fourth Quarter ◽  
Fiscal Year ◽  
Financial Reports

Mandatory disclosure of quarterly financial reports for publicly traded companies, in the majority of jurisdictions around the world, is the direct consequence of applying “timeliness” as presented in the Conceptual Framework for Financial Reporting (the conceptual framework) developed jointly in 2010 by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB). Having relevant information available sooner would improve its capacity to influence decisions. However, the interim reports are not required to be audited. In UAE, companies whose securities are listed on a securities and commodities market licensed by the Securities and Commodities Authority (SCA) are required to notify and provide interim financial reports, which are reviewed by the external auditor of the company. The objective of this paper is to analyze, in UAE, the volatility of the fourth-quarter earnings compared with the previous three. This study includes four years (2012-2015) of quarterly financial statements of firms listed in Dubai Financial Market (DFM). In order to determine if interim results are suspect, the paper analyzes the magnitude of differences in fourth quarter earnings and revenues relative to the first three quarters by using the Kiger’s 1974 methodology. Overall, results indicate that the volatility of earnings and revenue in the fourth quarter is significantly higher than those of the first three quarters. This main finding would be explained by the necessary adjustments to the fourth quarter earnings and revenues in order to correct the estimation. In fact, the quarterly financial statements require the use of more estimates than those prepared at the end of the fiscal year. This research would contribute to better understanding the quality of interim reports in an emerging market context.

scholarly journals Pengaruh Implementasi Asi International Financial Reporting Standard dalam Rangka Indeks Gray Leverage terhadap Pengungkapan Laporan Keuangan

2018 ◽  
Vol 5 (2) ◽  
pp. 164-169
Author(s):  
Desi Efrianti ◽  
Yanto .
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Descriptive Analysis ◽  
Linear Regression Analysis ◽  
Financial Statements ◽  
Financial Disclosure ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Accounting Standard ◽  
Financial Reports

Disclosure of financial statements is a mean of delivering information by the company’s internal to stakeholders outside of the company. On this globalization era, IASC (International Accounting Standard Committee) tries to create a custom standard for all in order to financial statement can be understood by all users in different countries, and so the IFRS (International Financial Reporting Standard) is published. It certainly brings a big impact on accounting study in Indonesia. One of those is about convergence of IFRS into PSAK as base of financial reporting as one form of disclosure to stakeholders outside of the company. This study was conducted to obtain empirical evidence about the effect of the implementation IFRS on the disclosure of financial statements as measured by leverage in this case the Gray index. The populations in this study are all listed banks in Indonesia Stock Exchange for the period of 2009-2014. Sample was 30 banking firms selected using purposive sampling method with predetermined criteria. Independent variable is in the form of leverage Gray index. Analysis used in this study is a descriptive analysis and simple linear regression analysis with SPSS as tool for calculation. The result showed the implementation of IFRS in the leverage Gray index has no effect on financial disclosure. Conclusions of the research are implementation of IFRS itself has effect on the financial disclosure but Gray index leverage has no significant effect under the IFRS standards. Result from t-test value is -0.122 and smaller than t-table value of 2.048. Thus, the variable of Gray index leverage is not recommended to be used to measure the width of financial reports disclosures under the standards of IFRS. There are still many aspects to be studied to determine the effect of accounting standards using other representations of company characteristics.

Federal public finance accounting standard “Employee Payments”

2020 ◽  
pp. 5-10
Author(s):  
Olga Shinkareva
Keyword(s):  
Public Finance ◽  
Public Sector ◽  
Financial Reporting ◽  
Financial Statements ◽  
Employee Benefits ◽  
Reporting Standard ◽  
Accounting Standard ◽  
Disclosure Of Information

The article is devoted to the analysis of the Federal Accounting Standard of Public Finance “Payments to Personnel”, which will be applied in the conduct of accounting and reporting from January 1, 2021, including medical state and municipal institutions. The article considers the main provisions of this standard — peculiarities of recognition and evaluation of objects of personnel benefits accounting, termination of their recognition, as well as disclosure of information on objects of personnel benefits accounting in accounting financial statements. This standard is compared with the International Public Sector Financial Reporting Standard 39 “Employee Benefits”

Indigenous reporting of a national housing corporation

2018 ◽  
Vol 36 (2) ◽  
pp. 221-233 ◽  
Author(s):  
Alistair Brown
Keyword(s):  
Papua New Guinea ◽  
Financial Reporting ◽  
Local Level ◽  
New Guinea ◽  
Financial Statements ◽  
Financial Reports ◽  
Content Type ◽  
Housing Corporation ◽  
Regulatory Instruments ◽  
National Housing

Purpose The purpose of this paper is to assess the level of reporting compliance achieved by the National Housing Corporation (NHC) of Papua New Guinea in terms of local indigenous reporting expectations. Design/methodology/approach Testing of a framework of indigenous accountability through indigenous enactments and regulations is conducted by textual analysis, which is informed by the theory of indigenous alternatives to assess the financial reporting compliance of the NHC of Papua New Guinea’s financial statements for years ending 2004-2013. Findings Documentary evidence of the state auditor reports of the NHC’s financial statements reveals that the corporation’s financial reports are not submitted for audit on a timely basis and receive disclaimed audit opinions. Despite the clear indigenous reporting expectations raised by local legislative and regulatory instruments, the NHC is unable or unwilling to provide an accurate account of their activities. Practical implications The lack of compliant reporting suggests that the planning, management and monitoring of the housing needs of residents of Papua New Guinea are compromised. There also appears merit in asking why parliament continues to fund the corporation given its difficulties in meeting local-level reporting expectations. Social implications The results have wider implications for the reporting ideologies of indigenous-run housing corporations operating in other developing countries. It might be fruitful to meet local reporting expectations before taking on the specialized reporting that accompanies introduced western-oriented policies on housing. Originality/value Accountability in relation to indigenous property management is constructed through a lens of reporting issues facing a developing country housing corporation.

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

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.

scholarly journals The expected impact of applying IFRS (17) insurance contracts on the quality of financial reports

Accounting ◽  
2021 ◽  
pp. 581-590
Author(s):  
Ahmad Dahiyat ◽  
Walid Owais
Keyword(s):  
Financial Reporting ◽  
Cash Flows ◽  
Faithful Representation ◽  
Insurance Companies ◽  
Reporting Standard ◽  
International Financial Reporting Standard ◽  
Financial Reports ◽  
Insurance Contracts ◽  
Analytical Approaches

This study aimed to explore the expected effect of applying the International Financial Reporting Standard (IFRS) 17 Insurance Contracts on the quality of financial reports. The study followed the exploratory descriptive analytical approaches. A questionnaire was developed and distributed to a sample of 120 financial employees in all insurance companies in Jordan. It concluded that the expected impact of applying the standard on the quality of financial reports was significant, especially on the comparability of financial reports, and faithful representation. It was found that there is an expected, statistically significant and positive effect between the application of the standard, and the quality of financial reports in general, and the expected influence of applying the standard and each of comparability, faithful representation, relevance, verifiability, timely, and understandability respectively. The study recommends the application of the standard in the specified time, work to create appropriate conditions, and the need to follow objective assumptions from the company's management for the estimation of cash flows when applying the standard.

scholarly journals Pelatihan Pembuatan Laporan Keuangan Bagi UMKM Sebagai Informasi Untuk Pengambilan Keputusan

2018 ◽  
Vol 2 (1) ◽  
pp. 63-82
Author(s):  
Sila Ninin Wisnantiasri ◽  
Irma Paramita Sofia ◽  
Fitriyah Nurhidayah ◽  
Karsam Sunaryo
Keyword(s):  
Financial Reporting ◽  
Business Performance ◽  
Financial Analysis ◽  
Financial Statements ◽  
Financial Statement ◽  
Educational Game ◽  
Financial Report ◽  
Study Approach ◽  
Income Statement ◽  
The Impact

The purpose of this dedication for Pisangan Village Community through financial statement training for small business in collaboration with partners of Citra Kencana Community is to improve the understanding of partners in making financial report especially income statement. The problem facing partners is not mastering how to create a correct financial statement. The financial statements can be used by partners as a benchmark of business performance and business financial analysis tools. Therefore, the methods used in this activity are: (1) convey material about basic concepts of accounting, (2) convey material about components of income statement, (3) provide business simulation and recording financial statements through educational game business accounting (4) the practice of preparing the business income statement and analysis by the entrepreneur, (5) advising / consulting the profit-loss statement. Besides, regression test is done through event study approach to know the impact of training for knowledge of financial report objectives and understanding of financial reporting from the community after getting the training. The result of this activity is increasing both knowledge and understanding of society in making financial report. This is shown by the direction of a positive and significant relationship between training with community knowledge and understanding. Keywords: Financial statement, Small entrepreneurship, Business analysis

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