AGENDA

1. Apa itu IFRS?

2. Beberapa Standar dalam IFRS
3. Beberapa Perbandingan IFRS dengan GAAP
4. Beberapa Perbandingan IFRS dengan PSAK
5. Penerapan IFRS
 IFRS
(International Financial Reporting Standard)

Executive Course Leader

Adela SE.,Ak.,MM.,CA.,CAP
Apa itu IFRS?
 Sejarah Perkembangan
 Abad pertengahan – pertumbuhan perdagangan Internasional di
Italy Utara
 Perkembangan Kerajaan Inggris – pengawasan perusahaan di
koloni

 Perkembangan Asosiasi Akuntansi - 1850an

 Berdirinya Asosiasi Akuntan Publik di Inggris dan Skotlandia –
1870an

 Interaksi antara Auditor dan Akuntan – prosedur dan teknik

akuntansi untuk laporan yang akurat dan dapat dipahami, direview,
dan dilaporkan
 Lingkungan bisnis global – management accounting, pajak, transfer
pricing

 Pasar Modal Global – lintas batas perdagangan saham

FAKTOR LAIN YANG MEMPENGARUHI

 Sumber-sumber finansial yang tersedia

 Sistem Hukum yang berbeda
 Peraturan Perpajakan
 Politik dan Perekonomian negara
 Inflasi
 Tingkat Perkembangan Ekonomi
 Tingkat Pendidikan
 Budaya
 Tahun 1973 terbentuk International Accounting
Standards Committee (IASC)

 Produk yang dihasilkan adalah International

Accounting Standard (IAS)

 Tahun 2001 IASC direstrukturisasi menjadi

International Accounting Standards Board (IASB)

 IAS digantikan dengan International Financial

Reporting Standards (IFRS)
Menuju Keseragaman

GREATER COMPARABILITY
TRANSPARENCY THE CURRENT PICTURE
e.g. Geographic
e.g. Financial Instruments

BALANCE SHEET FAIR VALUE

FOCUS ACCOUNTING

GREATER INCOME
INCREASED
STATEMENT
DISCLOSURE
VOLATILITY
Organisasi-organisasi yang terlibat dalam
pembuatan standard

 International Accounting Standards Board (IASB)

 Commission of the European Union (EU)

 International Organization of Securities Commission (IOSCO)

 International Federation of Accountants (IFAC)

 United Nations Intergovernmental Working Group of Experts on

International Standards of Accounting and Reporting (ISAR), part of
United Nations Conference on Trade and Development (UNCTAD)

 Organization for Economic Cooperation and Development Working

Group on Accounting Standards (OECD Working Group)
Structure

International Accounting Standards Committee Foundation

(19 Trustees : 6 North America, 6 Europe, 4 Asia/Pacific, 3 others)

Standards Advisory
Council International
National standard Accounting
setters and other Standards Board
interested parties (14 Board Members)
(“IASB”)
Advisory Committees

International Financial
Key Reporting Interpretations
Committee (12 Members)
Appoints
(“IFRIC”)
Report to
Membership links
Diagram of the Current IASB Structure
IASB
International Accounting Standards Board

 IASB http://www.iasb.org/
 Membentuk International Financial Reporting
Standards (IFRS)
 Menggantikan IASC

 Tujuan
 Mengembangkan suatu perangkat standar yang
dapat dimengerti dan diperbandingkan
 Mempromosikan penggunaan standar tersebut
 Mencapai titik temu antara standar akuntansi
nasional dengan standar akuntansi internasional
Kerangka Akuntansi
1. IFRS berarti :

 IFRS
 IFRIC Interpretation
 IAS
 SIC Interpretation
2. Historical Cost

 Merupakan konvensi accounting yang utama

 IFRS membolehkan revaluasi terhadap aktiva
tak berwujud, aktiva tetap, dan investasi property
untuk nilai wajarnya
 IFRS menghendaki beberapa kategori dari
instrumen keuangan dan biological asset dinilai
dengan nilai wajar
 Semua aktiva yang tidak disusutkan, harus
dinilai untuk menentukan kewajarannya
 3. Konsep

 Accrual Basis

 Going concern (setidaknya setahun ke depan)

 Qualitatif Characteristics :

- Understandability

- Relevance (terkait dengan sifat dan materialitas informasi)

- Reliability (penyajian yang jujur, dalam formulir, netral,

hati-hati, dan lengkap)

- Comparability
4. Materiality

 Suatu informasi dikatakan material jika hilangnya

atau kesalahannya dapat mempengaruhi
keputusan yang diambil

 Materiality tergantung pada ukuran hilangnya

atau salahnya pertimbangan dalam situasi
tertentu
Complexities of multi-national
 Imagine you are a bank in Europe (European Union)
 You operate in 27 different countries
 You have to use 27 different sets of reporting standards
 You have to comply with 27 different regulators filing requirements
 Imagine you are a small country (like New Zealand)
 Maintain accounting standards for reporting by public companies
 Expensive to maintain quality accounting standards
 Imagine you are a company required to report in the US, Europe and Asia
 Do you really want to have to deal with multiple sets of accounting
standards?
 Imagine you are a foreign company but you want access to the US capital
markets
 How do investors compare a US company with a non-US company using
different reporting standards?
Manfaat

 Keuntungan adanya satu set standar akuntansi global

- Perbandingan secara global dan transparansi
- Mudah dan murah untuk :
* Merger dan akuisisi
* Mencari sumber dana internasional
* Komunikasi antar perusahaan
* Penyiapan laporan keuangan
Kerugian Bila Tidak Ada Standar Akuntansi
Internasional
 Masing-masing negara mempunyai Standar akuntansi sendiri-
sendiri dan format laporan yang berbeda

 Banyaknya alasan-alasan yang mendasar atas perbedaan yang

terjadi

 Implikasi terhadap perbedaan praktek akuntansi :

 Perbedaan istilah dan pelaporan
 Perbedaan dalam jumlah dan bentuk pengungkapan
(khususnya untuk lingkungan dan sosial)
 Kurang dapat diperbandingkan
Dampak terhadap Perkembangan
Internasional
 Perdagangan antar perusahaan antar negara

 Menjual atau membeli perusahaan antara

negara

 Informasi bagi para investor

 Keseragam pelaporan dalam grup

 Proses pembentuk standar global

Implikasi terhadap Pasar Modal

 Akses yang lebih efisien terhadap modal bagi

perusahaan multinasional

 Meningkatkan daya perbandingan perusahaan

antar negara dalam industri sejenis

 Mengurangi cost of compliance

 Meningkatkan transparansi bagi perusahaan-

perusahaan non-US

 Mempermudah aktivitas merger dan akuisi

Impact of IFRS on businesses

The adoption of IFRS affects all facets of a business

 Stakeholder management

 Performance management

 Acquisition and divestment

 People and systems

 Bonuses and remuneration programs

 Adequate and sufficient resources
 Changes to information systems
What GAAPs are used, where?

 Major GAAPs
 Japanese
 U.S.
 International (IFRS)

 Which GAAP used depends on where you are

 Home country
 Foreign country
 Generally IFRS
 U.S.
 2009 expected to allow IFRS
Key differences
IFRS and US GAAP
 Principles vs. rules

 Both frameworks built under principles-based

methodology

 However, US GAAP is more prescriptive and rules-based

addressing specific industries and types of transactions in
many areas

 Fair value accounting

 Greater use of FV under IFRS than US GAAP (e.g.,

revaluations of PP&E, investment property and
intangibles)
Many countries are adopting
IFRS as National GAAP
 The adoption of IFRS in the EU in 2005 affected more than
8,000 companies and was key to accelerating the transition
to IFRS across the world

 Nearly 100 countries around the world require or permit the

use of IFRS since January 2005
 Mandatory for all listed companies in the EU
 Permitted for non-listed companies in some member states
 Commonly used in Central and Eastern Europe, and in Russia
 Many countries have converged their local standards to IFRS,
including Australia, South Africa, Singapore and New Zealand
China, Canada and Korea recently announced convergence
programs
 EU Factor
 EU
 Outlined in Regulation (EC) No. 1606/2002 of the
European Parliament and of the Council (the “EU
Regulation”).
 All listed companies incorporated in the EU are required
to apply IFRS in their consolidated financial statements
for periods beginning on or after 1 January 2005.
 ‘Listed’ means any companies that, at the balance sheet
date, have securities admitted to trading on a regulated
market of any EU member state.
 ‘Securities’ means debt as well as equity.
Use of IFRS is Increasing

 What reason is there for needing 50 different sets of financial

reporting standards?
 Expensive to create and maintain quality standards
 Hard to compare businesses reporting using different
standards
 Trend is to move toward 2 sets
 IFRS
 US GAAP

 Or maybe one
 US GAAP/IFRS convergence project (FASB/IASB)
 Call for “principles based reporting” in US (which is more
rules based)
 High probability of US GAAP and IFRS being “parallel”
 Maybe US GAAP will fade away
Use of IFRS is Increasing

 The European Union requires that all listed/public companies report

using IFRS in 2007
 New Zealand, Australia, other countries dropping their reporting
standards and moving to IFRS for listed companies and SMEs
 Canada will move to IFRS in 2009 (uses US GAAP now)
 China is moving toward IFRS
 US GAAP/IFRS convergence project
 US SEC will accept IFRS filings beginning in 2007 (still need to
reconcile to US GAAP)
 IFRS is feeding on XBRL’s momentum; XBRL (Extensible Business
Reporting Language is feeding on IFRS’s momentum
Hambatan Lain

 Government
- regulation
- institution

 Business practice
- system
- people