The revised plan was adopted by ministerial decision in June 1979. A final version of the plan, very similar to the 1979 draft, was approved in April 1982, and came into effect on April 30, 1983 with the passing of the accounting law designed to incorporate the provisions of the EEC fourth directive into the national legislation. THE HERITAGE OF THE 1947 PLAN AND RECENT INNOVATIONS The basic characteristics and structure of the 1947 Account­ ing Plan remain in the 1982 Plan. However, some elements were added, the terminology was refined and augmented, the presenta­ tion of the Plan was improved, and a number of changes were made to the chart of accounts and the financial statements. To highlight what has been retained of the past experience in the 1982 Plan and what are its main new characteristics, a compara­ tive analysis with the 1947 Plan will be presented in the following paragraphs. The 1982 version of the Plan contains basically the same ele­ ments as the 1947 edition (refer to the previous presentation of the 1947 Plan). However, accounting principles, which were implied in the 1947 Plan, are now specified clearly in the first section of the Plan. The cost accounting section of the Plan was greatly ex­ panded. However, cost accounting remains independent from fi­ nancial accounting. Additional information provided in this sec­ tion includes the objectives of cost accounting, its uses for the management of operations, and a framework for the analysis of transactions in cost accounting. The 1982 chart of accounts uses only nine of the ten classes, the class for statistical accounts (number 10) having been elimi­ nated. Classes 1 to 5 are still reserved for balance sheet accounts and they retain the same titles. The operating accounts remain in classes 6 and 7. However, in each class, important reallocations were made in two-digits accounts in order that the chart more closely correspond to the new financial statement presentation of the classes’ elements. Class 8 is now used for special accounts, such as commitments and consolidation accounts. Former profit and loss accounts of class 8 were reallocated into other classes because there is now only one statement for income related opera­ tions. In fact, the fusion of the former trading account, and profit and loss account into one income statement is a major change that has been made to the 1947 Plan. However, the current/excep­

2014 ◽  
pp. 355-355
Keyword(s):  
Balance Sheet ◽  
Major Change ◽  
Financial Statements ◽  
Cost Accounting ◽  
Financial Statement ◽  
Additional Information ◽  
Accounting Principles ◽  
Income Statement ◽  
Basic Characteristics ◽  
The Cost

Horse Vet, LLC: Transaction Analysis and Statement of Cash Flows Preparation (Option 1)

2017 ◽  
pp. 1-12
Author(s):  
Mark E. Haskins
Keyword(s):  
Financial Reporting ◽  
Balance Sheet ◽  
Financial Statements ◽  
Cash Flows ◽  
Financial Statement ◽  
Balance Sheets ◽  
Income Statement ◽  
Transaction Analysis ◽  
Business Events ◽  
Statement Of Cash Flows

This case pertains to the foundational underpinnings of the accounting process and the statement of cash flows. In Part I, students are presented with 23 business events that they must evaluate for recording in the financial records. Part II requires students to prepare a 2012 statement of cash flows using the information presented in the company's 2011 and 2012 year-end balance sheets along with its 2012 income statement. In Part III, students must rely on a 2011 balance sheet and a 2011 statement of cash flows to work backward to derive the 2010 year-end balance sheet. There are two versions of this case: Option 1 and Option 2. The Option 2 case is a bit more challenging than the Option 1 case. Instructors should use Option 2 if they feel students are well grounded in their understanding of financial statement relationships and the customary financial reporting of a typical set of business events. Both cases reinforce students' learning related to the accounting process and the connectivity between the financial statements. Please note that only one version of the case should be used due to the existence of some overlap between the two.

Transaction-based lending and accrual quality

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Stephen Gray ◽  
Arjan Premti
Keyword(s):  
Earnings Quality ◽  
Financial Statements ◽  
Financial Statement ◽  
Cost Of Debt ◽  
Accrual Quality ◽  
Content Type ◽  
Income Statement ◽  
Prior Literature ◽  
The Cost

PurposeThis study examines how lenders modify their behavior and their use of traditional, transaction-based lending models in credit decisions when faced with low earnings quality.Design/methodology/approachTo measure the earnings quality, following Bharath, Sunder and Sunder (2008), the authors use three measures of accrual quality and combine them into a simple parsimonious measure of accrual quality. Subsequently, the authors apply the incremental R-square approach used by Kim and Kross (2005) to determine the degree to which lenders modify their reliance on financial statement ratios when faced with low accrual quality.FindingsConsistent with prior literature, this study shows that the cost of debt is higher when accrual quality is low. In addition, this study extends prior literature by showing that lenders decrease their reliance on income statement data to make credit decisions as accrual quality decreases.Originality/valueThis paper broadens existing literature on the pricing of information risk in capital markets by being the first to show that lenders modify their reliance on financial statement data when faced with low-quality accruals. In addition, this paper extends the findings of Billings and Morton (2002) and demonstrates to managers the futility of using accrual manipulations to obtain more favorable credit terms. Lastly, this paper aids regulators and standard setters who seek to improve the usefulness of financial statements by showing that creditors do not appear to be misled by reporting choices that lower the quality of accruals.

scholarly journals Improvement of the method of accounting at the production enterprise

2020 ◽  
pp. 18-24
Author(s):  
Yuliia SHOSTAK
Keyword(s):  
Balance Sheet ◽  
Cost Accounting ◽  
Production Costs ◽  
Manufacturing Enterprises ◽  
Efficient Management ◽  
Income Statement ◽  
General Production ◽  
Rational Organization ◽  
Administrative Expenses ◽  
The Cost

The article deals with the importance of accounting for costs for the activity of manufacturing enterprises, examines the organization of cost accounting. The purpose of the paper is to investigate the organization of accounting for production costs, as well as to identify specific ways of its further improvement. It is established that there is a need to differentiate the costs of operating activities with their further detail. The importance of cost detailing by species, which provides accuracy and reliability of cost data, contributes to their efficient management. The basic prerequisites for rational organization of cost accounting have been formed and the directions for increasing the level of management of expenditure implementation have been determined. Based on the primary cost accounting documents, the required amounts are calculated by displaying them with the relevant invoices. Formation of information on production costs is carried out on accounts 23 «Production», 91 «General production costs», 92 «Administrative expenses», as well as on account 90 «Cost of sales». The debit of these accounts accounts for the costs, the loan – their debiting. It is also determined that accounting for production costs is one of the most important elements of enterprise accounting. It is because of this improvement in accounting that much attention must be paid to this area. In improving the accounting method for the cost segment, we offer improvements in three ways: 1. developed a fragment of the Work plan of analytical accounts for synthetic accounts 91 «General production costs», 92 «Administrative expenses», 2. Improvement of the method of «accounting and double entry» of conducting standard accounting transactions using the proposed analytics, 3. The Balance Sheet and Reporting method has been improved by improving Form No. 2 «Financial Statements (Income Statement)» by introducing additional lines. Part of the proposed analytical accounts to the accounts 91 and 92 is indicated in Accounting provisions (standards) 16 «Expenses», however, in the Plan of accounts this analytics is not spelled out, supplementing them and grouping them, we offer second and third order subaccounts for the expense accounts 91 and 92 The existence of these subaccounts will be advisable, since it allows a clear division of production costs for each cost item, thanks to such detailing it will be possible to improve their management system, which in turn will allow to make cost reductions for specific items. Thus, through the above suggestions for improving the cost accounting method, these elements of the reporting form become more comprehensive and understandable, and also improve the quality of accounting.

scholarly journals Peranan Penyusunan Laporan Keuangan Dalam Penyajian Informasi Keuangan Pada BMT At-Taqwa Muhammadiyah Sumatera Barat

2020 ◽  
Vol 8 (1) ◽  
pp. 14
Author(s):  
Leli Wita Suwita
Keyword(s):  
Balance Sheet ◽  
Financial Statements ◽  
Financial Information ◽  
Financial Statement ◽  
Financial Reports ◽  
Income Statement ◽  
Corporate Entity ◽  
West Sumatra ◽  
And Performance

This study aims to analyze how the role of financial statement preparation is to find out information relating to the financial position and performance of a corporate entity which includes the realization of the budget report, balance sheet, cash flow statement, and reports on the financial statement notes. The research method used is a qualitative method that compares financial statements between 2016 and 2018. The financial statements presented by BMT At-Taqwa Muhammadiyah West Sumatra in the form of a balance sheet and income statement, where an increase in value from the reporting date of the current year with the previous year, of the report there are still shortcomings in the reporting. BMT At-Taqwa Muhammadiyah West Sumatra is recommended to make all financial reports needed by financial information from BMT At-Taqwa Muhhammadiyah West Sumatra.Keywords: Role; Financial Statements; Financial Information.

scholarly journals PENGARUH PEMBIAYAAN MURABAHAH, ISTISHNA, MUDHARABAH, DAN MUSYARAKAH TERHADAP PROFITABILITAS (STUDI PADA BANK SYARIAH DI INDONESIA PERIODE MARET 2015 – AGUSTUS 2016)

2018 ◽  
Vol 1 (1) ◽  
Author(s):  
Dewi Wulan Sari ◽  
Mohamad Yusak Anshori
Keyword(s):  
Linear Regression ◽  
Balance Sheet ◽  
Secondary Data ◽  
Financial Statements ◽  
Statistical Test ◽  
Financial Statement ◽  
Islamic Banks ◽  
Normality Test ◽  
Bank Financing ◽  
Income Statement

This thesis aims to determine how much influence policy-contract agreement the Islamic bank financing (murabahah, istishna, mudharabah, and musyarakah) against the profitability of Islamic banks. Profitability used in this thesis is the Bukopin Syariah, BRI Syariah, BSM, and Muamalat Indonesia Bank. The data in this paper uses secondary data, monthly financial statements (balance sheet and income statement) in the period March 2015-August 2016. The financial statement has been taken from the publication of the report issues by the website of each bank. Mechanical of data management using multiple linear, regression, and test the classical assumption of normality test, multikoloniaritas, heteroksidasitas, and autokorolation, while proving the hypothesis of determination R2, F statistical test, and the test T statistic.

scholarly journals PEMBERDAYAAN MASYARAKAT BERBASIS PENYUSUNAN LAPORAN KEUANGAN SEDERHANA PADA KELOMPOK USAHA TANI PEMBIBITAN TANAMAN BUAH

2019 ◽  
Vol 5 (1) ◽  
pp. 23
Author(s):  
Indra Cahya Kusuma ◽  
Listio Wuryanto
Keyword(s):  
Balance Sheet ◽  
Fruit Trees ◽  
Financial Statements ◽  
Small Enterprises ◽  
Financial Reports ◽  
Counseling Training ◽  
Income Statement ◽  
Plant Nursery ◽  
The Cost ◽  
The City

Micro and Small Enterprises (MSE) engaged in agriculture, especially breeding / breeding of fruit trees in the City and District of Bogor, especially in the Nagrog Village, South Bogor District and Karacak Village, Leuwiliang District, are still relatively small. Breeding / nursery activities are generally carried out in groups and from generation to generation, with traditional management and simple seed breeding techniques. There are several obstacles faced by farmers, including; limited capital, lack of production facilities and infrastructure and not understanding Accounting, especially never registering and not knowing how to prepare financial statements. This activity aims to increase economic capacity through the preparation of simple financial reports for fruit nursery farmer groups. The method used is in the form of counseling, training, mentoring and strengthening with techniques for recording transactions into journals, calculating the cost of goods, income statement and statement of financial position / balance sheet. The results of the activity indicate a change in mindset and knowledge in accounting. The farmer group has been orderly recording and can calculate the profit or loss of fruit plant nursery business.

scholarly journals Fair Value Accounting vs. Historical Cost Accounting

2012 ◽  
Vol 17 (1) ◽  
pp. 1-6
Author(s):  
Paul Jaijairam
Keyword(s):  
Balance Sheet ◽  
Financial Statements ◽  
Cost Accounting ◽  
Fair Value ◽  
Fair Value Accounting ◽  
Historical Cost ◽  
Income Statement ◽  
Accounting Reports ◽  
The Impact ◽  
Historical Cost Accounting

This paper reviews fair value accounting method relative to historical cost accounting. Although both methods are widely used by entities in computing their income and financial positions, there is controversy over superiority. Historical cost accounting reports assets and liabilities at the initial price they were exchanged for at the time of the transaction. Conversely, fair value accounting quotes the prevailing price in the market. Nevertheless, while both methods of accounting affect financial statements, the impact of fair value accounting on the balance sheet and income statement is extreme due to the potential volatility of the method. Fair value accounting is deemed superior when compared to historical cost accounting because it reflects the current situation in the market whereas the later is based on the past. In addition, in relative terms, fair value accounting provides users with more current financial information and visibility.

Training of Implementation of Simple Financial Statements on Waste Bank Group in West Jakarta

2017 ◽  
Vol 1 (1) ◽  
pp. 1-8
Author(s):  
Helsinawati Helsinawati
Keyword(s):  
Balance Sheet ◽  
Financial Statements ◽  
Financial Statement ◽  
Training Methods ◽  
Financial Report ◽  
Bank Management ◽  
Income Statement ◽  
Waste Bank ◽  
Bank Group ◽  
And Control

Regulation of the Minister of Environment No 13 of 2012 on the implementation of Reduce, Reuse, and Recycle (Ministry of Environment, 2012) is to manage waste through 3R principles (Reduce, Reuse, and Recycle). This regulation drives the community to establish a waste bank.  Community Service on Training on Implementation Simple financial report on waste bank group aims to; provide theory, demonstration and practice about account code creation, document formats, and financial transaction processing on Member Savings Books / Waste customers. A waste bank is a concept of collecting and sorting  dry waste, and has management like a bank but a savings is not of money but rubbish. Waste bank report, Purchase Report, Debt Report, Sales Report, Receivable Report and Cash and Cash Equivalent Report, Inventory Report, Journal, General Ledger, Trial Balance and Financial Statement (Balance Sheet, Income Statement and Cash Flow)   Waste bank can monitor and control the source and the use of funds . The  efficiency and  accountability of revenue and expenditure of funds can be better so that profitability of business can increase. Training methods used (1) Lecture and Discussion, (2) Demonstration, and (3) Direct Practical Simple Finanvial Statement . Outcomes of this activity are the Improvement of knowledge, better understanding, skills of application of financial report recording from Waste Bank management.

scholarly journals Pengakuan, Pengukuran, Penyajian, dan Pengungkapan Biaya Limbah

2018 ◽  
Vol 5 (2) ◽  
pp. 129
Author(s):  
Intan Diah Pratiwi ◽  
Yosefa Sayekti ◽  
Imam Mas'ud
Keyword(s):  
Financial Statements ◽  
Environmental Accounting ◽  
Production Costs ◽  
Financial Statement ◽  
Fixed Asset ◽  
Cement Factory ◽  
Triangulation Method ◽  
Income Statement ◽  
Asset Depreciation ◽  
The Cost

This study aims to determine the application of environmental accounting on the cost of waste at PT. Cement Puger Jaya Raya Sentosa. This research is qualitative using triangulation method. Resulth is accounting practices (the recognition, measurement, presentation and disclosure) the cost of waste carried out by PT. Cement Puger Jaya Raya Sentosa almost in accordance with the Framework for the Preparation and Presentation of Financial Statements (KDPPLK) however, PT. Cement Puger Jaya Raya Sentosa yet have a complete financial statement. The financial statements are owned by PT. Cement Puger Jaya Raya Sentosa until this research still consists of report production costs, fixed asset depreciation report, and income statement. Keywords: Accounting, Environmental, Waste, Cement Factory, Report

scholarly journals PENERAPAN ALTMAN Z-SCORE DALAM MEPREDIKSI KEBANGKRUTAN PADA PT BANK DANAMON INDONESIA Tbk

2021 ◽  
Vol 5 (2) ◽  
pp. 60-66
Author(s):  
Eva Malina Simatupang
Keyword(s):  
Data Analysis ◽  
Balance Sheet ◽  
Secondary Data ◽  
Financial Statements ◽  
Financial Statement ◽  
Z Score ◽  
Financial Difficulties ◽  
Income Statement ◽  
Analysis Technique ◽  
Modification Method

The tittle of research was "The Implementation of Altman Z-Score in Predicting Bankruptcy at PT Bank Danamon Indonesia Tbk. The purpose of this research was conducted to determine the risk of bankruptcy of PT Bank Danamon Tbk according to Altman Z-Score. The population in this research was the financial statement of PT Bank DanamonTbk and the samples in this research were reports of financial position (balance sheet) and income statement of PT Bank Danamon Tbk period 2018 – 2020. The type of data used is secondary data and the data collection techniques used were the documentation of the financial statements published through website https://www.danamon.co.id . The data analysis technique uses descriptive statistics and the Altman Z-Score Modification method. Based on the results of the data processing obtained Z-Score results at 2018 was 2,251 ; at 2019 was 2,4424; at 2020 was 2,0052. Based on the results of data analysis, it can be concluded that PT Bank Danamon Tbk is in the gray zone because the standard cut off value is 1.1 < Z < 2.6. Bank Danamon is in a vulnerable condition (grey area) which means the company has the potential to experience financial difficulties but can still be overcome.

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