scholarly journals Socialization of the Importance of the Agency's SPT Strategy and Development UMKM Strategy in Parungpanjang District

Syntax Idea ◽  
2021 ◽  
Vol 3 (10) ◽  
pp. 2115
Author(s):  
Hidayatul Mu `Arifin ◽  
Siti Ratna Sari Dewi ◽  
Iin Rosini
Keyword(s):  
Development Strategy ◽  
Financial Reporting ◽  
Financial Statements ◽  
Corporate Tax ◽  
The Development Strategy ◽  
Tax Returns ◽  
Training Activities ◽  
Coaching Activities ◽  
Tax Reporting ◽  
Financial Transactions

The purpose of this research is to provide an understanding of the making of the Agency's Annual SPT and the development strategy of MSME-IKM and to find out what obstacles are faced during the MSME-IKM Kec Forum. Parungpanjang at the time of making the annual corporate tax return. To achieve this goal, training activities for the preparation of the Agency's Annual SPT were carried out in UMKM-IKM Kec. Parungpanjang. The method used in this research is through training and coaching activities. The data collection method used in this study is a quantitative and descriptive method, namely by reviewing, researching, and providing training and guidance to companies in recording transactions and making annual and periodic tax returns. Thus making the company more effective and efficient in dealing with financial reporting and tax reporting issues. This bookkeeping and recording becomes a very crucial thing because what is recorded or recorded will be the basis for every taxpayer to calculate the amount of tax owed. From the results of this study, financial transactions have not been properly recorded into financial statements, although simple because there are many obstacles in making the annual corporate tax return, one of the factors is that human resources or managers do not understand a

XBRL Tag Extensions and Tax Accrual Quality

2020 ◽  
Author(s):  
Stephanie Walton ◽  
Liu L Yang ◽  
Yiyang Zhang
Keyword(s):  
Financial Reporting ◽  
Relative Rate ◽  
Financial Statements ◽  
Accrual Quality ◽  
Business Reporting ◽  
Prior Literature ◽  
Tax Reporting ◽  
Financial Reporting Comparability

The adoption of eXtensible Business Reporting Language (XBRL) requires management to label all information in their firm's financial statements and corresponding notes with either standardor custom extended tags. While prior literature has found that the rate of customization is associated with increased financial reporting complexity, there could be an unintended, beneficial consequence to tax reporting. We examine how the relative use of tax-related XBRL tag extensions could highlight unique tax activity characteristics, in turn increasing tax accrual quality and improving tax reporting transparency. We find that having a higher relative rate of extended tax tags is associated with higher tax accrual quality. That is, utilizing more tax tag extensions can assist in providing useful tax information, especially when a high number of total XBRL tags are used. Our results also suggest the need to reexamine the standard taxonomy to include more tax-oriented terms to improve financial reporting comparability.

scholarly journals Influence of Rules for Computing Corporate Income Tax on the Accuracy of Financial Statements of Lithuanian Companies

2016 ◽  
Vol 63 (1) ◽  
pp. 65-81 ◽  
Author(s):  
Gintaras Cernius ◽  
Liucija Birskyte ◽  
Arturas Balkevicius
Keyword(s):  
Income Tax ◽  
Business Performance ◽  
Financial Statements ◽  
Corporate Income Tax ◽  
Tax Law ◽  
Accounting Principles ◽  
Tax Returns ◽  
Income Tax Law ◽  
Accounting Rules ◽  
Financial Transactions

Companies in Lithuania have to follow Business Accounting Standards (BAS) when preparing their financial statements. Recording financial transactions according to BAS ensures that the information a company shares with potential lenders and investors gives a true and fair view of its business situation. However, the tax law prescribes its own set of accounting rules, which can result in a difference between what a business shows in financial statements and what it reports on its tax returns. This paper examines whether Lithuanian companies predominantly use tax accounting principles that migrate into their financial statements to create an inaccurate picture of business performance. The method of experts’ evaluation was chosen for that purpose. The results indicate that Lithuanian companies tend to heavily rely on accounting principles prescribed in corporate income tax law thus distorting information contained in financial statements. The paper contributes to the scarce literature on this issue of high relevance to both academics and practitioners.

9. Accounts

2016 ◽  
Author(s):  
Derek French ◽  
Stephen W. Mayson ◽  
Christopher L. Ryan
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Significant Case ◽  
Financial Transactions ◽  
A Company ◽  
Technical Rules

This chapter discusses the requirements calling for directors of a company to prepare accounts once a year, to be presented to the company’s members and filed at Companies House (unless the company is unlimited). The technical rules on the preparation of financial statements are explained. The role of the Financial Reporting Council as the regulator for accountancy, auditing, and financial reporting is also considered. The chapter outlines the accounting requirements, in which every company must keep reasonably accurate accounting records of all financial transactions, from which the directors must prepare annual accounts for each of the company’s financial years. The requirements for group accounts and the procedures for revising accounts that are found to be erroneous are examined as well. The chapter considers a particularly significant case: Caparo Industries plc v Dickman [1990] 2 AC 605.

scholarly journals Use of Financial Ratios in selecting entities for Tax Audit purposes – empirical study in Albania

2021 ◽  
Vol 17 ◽  
pp. 297-313
Author(s):  
Rezarta Shkurti ◽  
Elena Myftaraj ◽  
Elsia Gjika
Keyword(s):  
Financial Reporting ◽  
Tax Evasion ◽  
Tax Avoidance ◽  
Binary Logistic Regression ◽  
Financial Statements ◽  
Financial Ratios ◽  
Risk Indicators ◽  
Economic Entity ◽  
Tax Audit ◽  
Tax Reporting

Information from financial statements and reported financial ratios have long been used to detect common phenomenon such as fraudulent financial statements, earnings management, and the relation between financial ratios and the level of tax risk of an entity. The focus of this study is to research the use of financial ratios that entities declare, in the detection of the magnitude of tax avoidance. In this paper we apply a binary logistic regression to detect which financial statement ratios differentiate between tax evading and non-tax evading entities. We analyse data from 183 tax audited Albanian entities for 2015 and 2016 accounting years and calculate several financial ratios to determine the level of tax risk based on the tax evasion magnitude found by the tax audit of these entities. We apply univariate and multivariate analysis and find several important ratios that can indicate quite accurately the high risk of tax audit of an economic entity. We suggest including these ratios as risk indicators or “red flags” in the selection procedures employed by the tax auditors. As tax reporting and financial reporting have similarities across countries of the region, our findings may be useful for other Southern Eastern European Countries as well.

scholarly journals Firms` Participation in Tax Amnesty Program Engaged in Financial Reporting Manipulation: An Empirical Evidence from Listed Companies in Indonesia

The Winners ◽  
2019 ◽  
Vol 20 (2) ◽  
pp. 85 ◽  
Author(s):  
Gatot Soepriyanto ◽  
Yanto Indra ◽  
Olivia The ◽  
Arfian Zudana
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Tax Avoidance ◽  
Financial Statements ◽  
Corporate Tax ◽  
Dummy Variable ◽  
Tax Amnesty ◽  
Avoidance Measures ◽  
Score Model ◽  
Amnesty Programs

The research investigated the relation between firms participated in tax amnesty programs and their tendency to manipulate financial statements. The research explored some unique research settings during Indonesia’s tax amnesty period in 2016-2017. To examine the association, the researchers employed Beneish’s M-Score model to categorize the firm’s tendency to manipulate its financial statements. As the test variable, it classified the firm’s participation in the tax amnesty program with a dummy variable, 1 if the firm participated, and 0 otherwise. To control the variations in financial statements manipulation, it also included firm size, leverage, and profitability in our empirical model. Based on the sample of 796 firm-year observations in the Indonesian Stock Exchange (IDX) from the 2012-2017 period, it is found some evidence that firms participate in tax amnesty programs do not engage in financial statements manipulation. Further analysis of the corporate tax avoidance measures shows that those firms do not engage in tax avoidance activities either. The results suggest that firms participate in the tax amnesty programs are not necessary ‘bad firms’, and they just participate as a ‘symbolic’ gesture to get some indirect benefits of the program.

scholarly journals Development of a Process for Detecting Inconsistencies between Financial Statements and Financial Transactions (Deals) Aimed at Identifying Signs of Money Laundering

2018 ◽  
Vol 3 (2) ◽  
pp. 118 ◽  
Author(s):  
Garaschenko A.A. ◽  
Nasonov E.V. ◽  
Leonov P.Y.
Keyword(s):  
Money Laundering ◽  
Financial Reporting ◽  
Russian Federation ◽  
Financial Statements ◽  
The State ◽  
Role Of The State ◽  
The Russian Federation ◽  
State Defense ◽  
Financial Transactions ◽  
High Degree

The problem of money-laundering is still valid in the Russian Federation. With the increasing role of the State in the economy, this question becomes particularly significant. Of course, monitoring of the funds movement plays a significant role, in particular, for companies, recipients of budgetary funds, including providers of the State Defense order (GOZ).To date, there is no generally accepted method, which would allow a high degree of probability to identify signs of money laundering.This article first describes how to detect signs of money-laundering on the basis of a comparison of the data of financial statements with bank operations data.Elaborated process was tested on the example of relevant data of thirty businesses complying with orders under the contracts with the Ministry of Defence of the Russian Federation in 2013.On the basis of the obtained results recommendations for the improvement of the elaborated process were formulated and the scope of its possible use was identified. Keywords: money laundering, the process approach, fraud, financial reporting 

scholarly journals ANALISIS KOREKSI FISKAL UNTUK MENGHITUNG PPH BADAN PADA PT. EMPAT TUJUH ABADI JAYA

2018 ◽  
Vol 13 (02) ◽  
Author(s):  
Mesias Ridel Tulandi ◽  
Harijanto Sabijono ◽  
Sonny Pangerapan
Keyword(s):  
Accounting Standards ◽  
Financial Statements ◽  
Assessment System ◽  
Financial Accounting ◽  
Corporate Tax ◽  
Self Assessment ◽  
Tax Rate ◽  
Income Statement ◽  
Tax Reporting ◽  
A Company

PT. Empat Tujuh Abadi Jaya is a company that is a taxpayer in the form of a body that has responsibility to calculate, deposit and report the tax payable that must be paid to the state based on self-assessment system that gives full trust to the taxpayer in reporting corporate tax. But there is a problem that will be faced in the payment of taxes. This is due to the fact that the financial statements in particular the income statements are different from the commercial profit referring to the Financial Accounting Standards while the fiscal profit refers to the applicable Taxation Law. This difference is simply in the presence of income and expenses recognized as income or expenses by the company but is not recognized by the tax and in the filling as the company does not pay attention to the fiscal correction in tax reporting. For that company must pay attention to fiscal correction / fiscal reconciliation so that the amount of corporate tax payable can be equal to tax. The purpose of this study is to determine the fiscal profit derived from the results of fiscal correction in commercial financial statements to determine the tax payable body. In this study, earnings obtained after the fiscal correction in the financial statements of Rp201,112,732.00 and profit before the fiscal correction of Rp181.510.720,00 for the calculation of corporate taxes using tarif 17 paragraph 2a with tarif 25% Act No. 36 of 2008 Tax The income of the company must pay the tax before it is made Rp45.377.680,00 for the corporate tax rate less attention to the Article 31 E fare with 50% discount from the normal tarif of 25% gross turnover Rp4.8.000.000.000,00 or below and up to Rp50. 000.000.000,00 billion got a discount. Gross circulation of PT. Empat Tujuh Abadi Jaya shall not exceed 4.8M amounting to Rp4,669,400,000.00, so the Company is permitted to use the rate of article 31 E.Keywords: Tax due, Income Statement, Fiscal Correction.

Implementation of foreign practice of regulation and accounting and reporting in Russia

2020 ◽  
pp. 215-222
Author(s):  
N. Yu. Orlova
Keyword(s):  
Comparative Analysis ◽  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
National Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Tax Reporting ◽  
International Comparability

The reform of accounting and reporting in Russia began in the 1990s. The benchmark was taken on International Financial Reporting Standards, as many countries use these standards. IFRS have a number of advantages, such as simplicity, objectivity, international comparability. The author of the article gives the main problems, as a result of which, for almost thirty years, national standards have come very slightly closer to international ones. The author of the article gives the main problems, as a result of which, for almost thirty years, national standards have come very slightly closer to international ones. In the comparative analysis of accounting and the preparation of accounting and tax reporting according to Russian Accounting Standards (RAS) with International Financial Reporting Standards (IFRS), fundamental differences were revealed in the reflection of accounting objects in financial statements.

scholarly journals Research on Adidas International Development Strategy under COVID-19

2021 ◽  
Vol 14 ◽  
pp. 39-52
Author(s):  
Xiaoyu Zhang
Keyword(s):  
International Development ◽  
Development Strategy ◽  
Financial Statements ◽  
Financial Statement ◽  
Strategy Research ◽  
Financial Status ◽  
The Development Strategy ◽  
Enterprise Level ◽  
New Research ◽  
The Impact

Affected by COVID-19, Adidas' global net sales in 2020 decreased by 3.756 billion euros compared to 2019. Adidas's net sales worldwide decreased by 3756 million euros in 2020 compared to 2019. This article will analyze the changes in Adidas's operation situation and competitiveness under the impact of COVID-19. At the same time, combined with the 2016-2020 financial statement data publicly disclosed by Adidas, this article will analyze the specific impact of COVID-19 on Adidas' financial status and provide a more in-depth interpretation of the financial statements. The goal of this article is to analyze Adidas' future development strategy and make recommendations by analysing the impact of COVID-19 so that it can better meet the needs of external interests and internal management. Many scholars' relevant research is mostly on the development strategy research at the macro level. However, there is a lack of strategic research on the micro-enterprise level after being affected by COVID-19. This article first reviews the literature and expands new research directions based on existing research. Then, this article will use the PEST method to analyze the changes in Adidas's external macro environment under the influence of COVID-19 and apply the theory and methods of financial statement analysis to specific applications. Then this article will combine Potter's five forces model analysis method to further analyze Adidas' external environment and industry environment under the influence of COVID-19. Finally, this article will conclude and put forward development strategy recommendations.

scholarly journals PEMBUKUAN DAN PELAPORAN INFORMASI AKUNTANSI KEUANGAN BERBASIS PSAK 45: PADA PANTI ASUHAN AL-AMANAH, PALEMBANG

2018 ◽  
Vol 1 (2) ◽  
Author(s):  
Rita Martini
Keyword(s):  
Cash Flow ◽  
Financial Reporting ◽  
Financial Statements ◽  
Non Profit ◽  
Financial Report ◽  
Net Assets ◽  
Cash Flow Statement ◽  
Financial Transactions

This report aims to examine the implementation of non-profit entity financial reporting atPanti Asuhan Al-Amanah, Palembang referring to Pernyataan Standar AkuntansiKeuangan Number 45 (PSAK 45). The data used in this study is the data related to thepreparation of financial statements of financial transactions orphanage. The discussionin this report is how the process of recording transactions, the process of over viewingtransactions, preparing financial statements of activity reports, statements of financialposition, and cash flow statement. Based on the facts obtained, the orphanage has notmade a financial report. Results based on the financial statements made, the orphanagedecreased net assets in the period of December 2017.

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