INTRODUCTION
1. International Accounting Accounting differences with the other.
International accounting differences bring a number of problems from the standpoint of financial analysis.
1. First, in an effort to assess foreign companies, there is a tendency to look at revenues and other financial data from the standpoint of their home country, and because of the danger of ignoring the effects of accounting differences. Unless significant difference was taken into account, possibly with some involvement of a restatement, it may have very serious consequences.
2. Secondly, awareness of international differences suggest the need to become familiar with generally accepted accounting principles as a destination for foreign countries to know better income data in the context of measurement.
3. Third, the issue of comparable properties and the harmonization of accounting is reviewed in the context of alternative investment opportunities.
Differences that arise due to:
A. economic growth,
2. inflation,
3. political system,
4. education,
5. accounting profession,
6. tax laws,
7. money market, and
8. capital.
2. Secondly, awareness of international differences suggest the need to become familiar with generally accepted accounting principles as a destination for foreign countries to know better income data in the context of measurement.
3. Third, the issue of comparable properties and the harmonization of accounting is reviewed in the context of alternative investment opportunities.
Differences that arise due to:
A. economic growth,
2. inflation,
3. political system,
4. education,
5. accounting profession,
6. tax laws,
7. money market, and
8. capital.
In this case, Choi and Levich (1991) provides a useful framework for analyzing the impact and relevance of the differences in similarity and no resemblance to the economic environment. In an environment or a situation similar to the accounting, the accounting differences is un logisan and clues to the results that can not be compared.
In the international accounting is divided into three broad areas are:
A. measurement
Can provide in-depth feedback on the probability of a company's operations and financial position of strength. The process of identifying, classifying and counting aktivtias and transactions, to provide input regarding the profitability and operating depth.
2. disclosure
The process by which accounting measurement is communicated to the users of financial statements and used in decision making or process of communicating to the user.
3. auditing
The process by which the special accounting professionals (auditors) perform attestation (testing) on reliability of measurement and communication processes. Accounting called the language of business because it is a tool for delivering financial information to parties who need it. The better we understand the language, the better our decisions, and the better we are in managing finances. [2] To convey this information, it is used for accounting or reporting which is known as financial statement
3. History and Trend of International Accounting International Financial Sector Policy
Initially, the Accounting begins with double-entry system (double entry bookkeeping) in Italy in the 14th century and 15. Double entry bookkeeping (double entry bookkeeping), considered the beginning of the creation of accounting. Modern accounting double entry accounting began to find and use in the business activities of multiple listing system (double entry bookkeeping) Luca
Initially, the Accounting begins with double-entry system (double entry bookkeeping) in Italy in the 14th century and 15. Double entry bookkeeping (double entry bookkeeping), considered the beginning of the creation of accounting. Modern accounting double entry accounting began to find and use in the business activities of multiple listing system (double entry bookkeeping) Luca
Pacioli introduced by (yr 1447).
Luca Pacioli was born in Italy in 1447, he was not an accountant but the priest who is an expert mathematician, and lecturer at several universities in Italy. Lucalah person who first published the basic principles of double accounting system in his book: the Arithmetica geometria proportioni Summa et proportionalita in the year 1494. Many historians argue that the basic principles of double accounting system is not a pure idea Luca, but he only summarizes the accounting practices that took place at the time and publish it. It is admitted by Luca (Radebaugh, 1998) "Pacioli did not claim That his ideas were original, just that he was the one WHO was Trying to organize and publish them. He objective was to publish a popular book That Could be used by all, following the influence of the venetian businessmen rather than bankers ".
Business practices with the reference method venetian Luca wrote the book has become the method adopted not only in Italy but in almost all European countries like Germany, Holland, England
Luca introduced the 3 (three) important notes that must be done:
1. Memorandum book, the book records of all business transaction information.
2. Journals, where the transaction whose information has been stored in a memorandum book and then recorded in the journal.
3. Great book, is a book that summarizes the above journals. General ledger is the center of the accounting system (Raddebaugh, 1996).
Luca Pacioli was born in Italy in 1447, he was not an accountant but the priest who is an expert mathematician, and lecturer at several universities in Italy. Lucalah person who first published the basic principles of double accounting system in his book: the Arithmetica geometria proportioni Summa et proportionalita in the year 1494. Many historians argue that the basic principles of double accounting system is not a pure idea Luca, but he only summarizes the accounting practices that took place at the time and publish it. It is admitted by Luca (Radebaugh, 1998) "Pacioli did not claim That his ideas were original, just that he was the one WHO was Trying to organize and publish them. He objective was to publish a popular book That Could be used by all, following the influence of the venetian businessmen rather than bankers ".
Business practices with the reference method venetian Luca wrote the book has become the method adopted not only in Italy but in almost all European countries like Germany, Holland, England
Luca introduced the 3 (three) important notes that must be done:
1. Memorandum book, the book records of all business transaction information.
2. Journals, where the transaction whose information has been stored in a memorandum book and then recorded in the journal.
3. Great book, is a book that summarizes the above journals. General ledger is the center of the accounting system (Raddebaugh, 1996).
Development of accounting systems is driven by the growth of international trade in Northern Italy during the late Middle Ages and the government's desire to find ways to impose taxes on commercial transactions.
1850's double-entry bookkeeping reached the British Isles that causes the growth of public accounting and public accounting profession is organized in Scotland and England in the 1870s. UK accounting practice spread throughout North America and throughout the British Commonwealth. Besides the Dutch accounting model exported to Indonesia, among others, the French accounting system in Polynesia and Africa regions under French rule. Reporting framework of the German system is influential in Japan, Sweden, and the Russian Empire.
1850's double-entry bookkeeping reached the British Isles that causes the growth of public accounting and public accounting profession is organized in Scotland and England in the 1870s. UK accounting practice spread throughout North America and throughout the British Commonwealth. Besides the Dutch accounting model exported to Indonesia, among others, the French accounting system in Polynesia and Africa regions under French rule. Reporting framework of the German system is influential in Japan, Sweden, and the Russian Empire.
TREND INTERNATIONAL FINANCIAL SECTOR POLICY
Development of Islamic banking system in Indonesia is carried out within the framework of dual-banking system or the dual banking system in the framework of the Indonesian Banking Architecture (API), to present an alternative to the more complete banking services to the people of Indonesia. Taken together, the system of Islamic banking and conventional banking in synergy to support the mobilization of public funds more broadly to improve financing for the national economy sectors.
Development of Islamic banking system in Indonesia is carried out within the framework of dual-banking system or the dual banking system in the framework of the Indonesian Banking Architecture (API), to present an alternative to the more complete banking services to the people of Indonesia. Taken together, the system of Islamic banking and conventional banking in synergy to support the mobilization of public funds more broadly to improve financing for the national economy sectors.
With the enactment of Act 21 of 2008 concerning Islamic Banking, published on July 16, 2008, the development of the national Islamic banking industry has an adequate legal basis and will encourage the growth is even faster. With the impressive progress of its development, which reached an average asset growth of 65% per year over the past five years, it is expected that Islamic banking industry's role in supporting the national economy will be increasingly significant.
Islamic Banking Development Policy in Indonesia
To provide guidance to stakeholders and put the position of Islamic banking and how to view Bank Indonesia in developing Islamic banking in Indonesia, Bank Indonesia later in 2002 had published a "Blueprint of Development of Islamic Banking in Indonesia". In its formulation, various aspects have been considered in a comprehensive manner, including the actual condition of the national Islamic banking industry and its related tools, the development trend of Islamic banking industry in the international and national development of Islamic financial system that began to manifest itself, and can not be separated from the framework of financial system macro is more like the Indonesian Banking Architecture (API) and the Indonesian Financial System Architecture (ASKI) as well as international best practices formulated Islamic financial institutions, such as the IFSB (Islamic
Islamic Banking Development Policy in Indonesia
To provide guidance to stakeholders and put the position of Islamic banking and how to view Bank Indonesia in developing Islamic banking in Indonesia, Bank Indonesia later in 2002 had published a "Blueprint of Development of Islamic Banking in Indonesia". In its formulation, various aspects have been considered in a comprehensive manner, including the actual condition of the national Islamic banking industry and its related tools, the development trend of Islamic banking industry in the international and national development of Islamic financial system that began to manifest itself, and can not be separated from the framework of financial system macro is more like the Indonesian Banking Architecture (API) and the Indonesian Financial System Architecture (ASKI) as well as international best practices formulated Islamic financial institutions, such as the IFSB (Islamic
Financial Services Board), AAOIFI and IIFM.
The development of Islamic banking is directed to provide the greatest benefit for the community and contribute optimally to the national economy. Therefore, the direction of the development of a national Islamic banking has always refer to other strategic plans, such as the Indonesian Banking Architecture (API), the Indonesian Financial System Architecture (ASKI), as well as National Medium Term Development Plan (RPJMN) and the National Long Term Development Plan (RPJPN).
In the end, the Islamic banking system to be established by Bank Indonesia is a modern Islamic banking, which is universal, open to all Indonesian citizens without exception. A banking system that delivers applicative forms of economic tenets formulated prudent, in the present context the problems being faced by Indonesia, and by taking into account socio-cultural conditions in which the nation is to write its history. Only in this way, the Islamic banking system development efforts will always be seen and accepted by all the people of Indonesia as part of the solution to various problems of the country.
In the end, the Islamic banking system to be established by Bank Indonesia is a modern Islamic banking, which is universal, open to all Indonesian citizens without exception. A banking system that delivers applicative forms of economic tenets formulated prudent, in the present context the problems being faced by Indonesia, and by taking into account socio-cultural conditions in which the nation is to write its history. Only in this way, the Islamic banking system development efforts will always be seen and accepted by all the people of Indonesia as part of the solution to various problems of the country.
Grand Strategy of Islamic Banking Market Development
As a concrete step development efforts of Islamic banking in Indonesia, Bank Indonesia has formulated a Grand Strategy of Islamic Banking Market Development, a comprehensive strategy of market development which includes strategic aspects, namely: Determination of the vision 2010 as a leading Islamic banking industry in ASEAN, image formation The new national Islamic banking which is inclusive and universal, a more accurate mapping of the market, a more diverse product development, service improvement, as well as a new communications strategy that positioned the Islamic banking is more than just bank.Selanjutnya concrete programs have been and will be done as the implementation phase of grand strategy of financial market development of Islamic banking
As a concrete step development efforts of Islamic banking in Indonesia, Bank Indonesia has formulated a Grand Strategy of Islamic Banking Market Development, a comprehensive strategy of market development which includes strategic aspects, namely: Determination of the vision 2010 as a leading Islamic banking industry in ASEAN, image formation The new national Islamic banking which is inclusive and universal, a more accurate mapping of the market, a more diverse product development, service improvement, as well as a new communications strategy that positioned the Islamic banking is more than just bank.Selanjutnya concrete programs have been and will be done as the implementation phase of grand strategy of financial market development of Islamic banking
In the era of globalization, businesses and communities have become increasingly complex so requires the development of a variety of disciplines including Accounting. Accounting plays an important role in the economic and social as any financial decisions should be based on accounting information.This situation makes accounting as a profession that is needed existence within business organizations.
The business world faster and faster and very varied. Areas that previously did not in the business sector is now imagined as a besar.Perkembangan sector accounting profession to rise even more after 1985, in conjunction with the JSE.
Accounting has developed very rapidly in line with business growth and development of securities, especially shares in the capital markets business. The American public already knows the business since 1900 (Belkaoui, 2007). In the transaction, both the investors and prospective investors have been using the company's financial information as one of the guidelines in making predictions and for making business decisions, the investment in securities, particularly stocks.
Accounting has developed very rapidly in line with business growth and development of securities, especially shares in the capital markets business. The American public already knows the business since 1900 (Belkaoui, 2007). In the transaction, both the investors and prospective investors have been using the company's financial information as one of the guidelines in making predictions and for making business decisions, the investment in securities, particularly stocks.
Positive developments are happening to the stock business in the U.S. capital markets also showed that companies will need capital also increased in step with market developments. In addition, it also means that the needs and role of accounting information becomes more and more economic. Indonesia caused the 1997 economic crisis mementalkan John Naisbitt predicted that Indonesia will become one of the tigers of Asia. In 2000, three years after the crisis, at a time when other countries are also affected by the crisis such as Thailand, South Korea, the Philippines and Malaysia have obtained a significant improvement of the economy, Indonesia's economy (GDP) grew only 0.2%. (Asian Recovery Information Center - ADB: May 2000) Tanri Abeng (1999) in Djalil (2000), states that there are six basic root of the problem that causes slow improvement in Indonesia's economy, namely:
1. It turned out that the rapid growth of Indonesia before the crisis because it encouraged more investment growth is not due to efficiency and innovation
2. The majority of the market value of listed companies on the JSE was overvalued (90% of the value of publicly traded companies is determined by the growth expectation, only 10% above the real ability to earn profits; different from developed countries, 30% growth expectation, 70% of real ability)
3. Company's financial structure is not healthy (loans over 100% compared to its equity, healthy company should be below 50% of ekuitinya)
4. The existence of mark-up in lending.
5. Unhealthy concentrations of economic (economic pyramid, above: there are 200 private conglomerate owned by 50 families, were: almost empty.
6. There is no good governance (the lowest according to McKinsey 1999)
On the other hand, Indonesia faced economic challenges of the 21st century that economic globalization. Economic globalization is a process of economic activity and trade, in which countries around the world into one market power is increasingly integrated with the territorial limits of the state without a hitch.
1. It turned out that the rapid growth of Indonesia before the crisis because it encouraged more investment growth is not due to efficiency and innovation
2. The majority of the market value of listed companies on the JSE was overvalued (90% of the value of publicly traded companies is determined by the growth expectation, only 10% above the real ability to earn profits; different from developed countries, 30% growth expectation, 70% of real ability)
3. Company's financial structure is not healthy (loans over 100% compared to its equity, healthy company should be below 50% of ekuitinya)
4. The existence of mark-up in lending.
5. Unhealthy concentrations of economic (economic pyramid, above: there are 200 private conglomerate owned by 50 families, were: almost empty.
6. There is no good governance (the lowest according to McKinsey 1999)
On the other hand, Indonesia faced economic challenges of the 21st century that economic globalization. Economic globalization is a process of economic activity and trade, in which countries around the world into one market power is increasingly integrated with the territorial limits of the state without a hitch.
CHALLENGES IN THE GLOBAL ERA
Globalization that has been faced by the nation of Indonesia would insist on efficiency and competitiveness in the business world. In intraregional relations concerning globalization and international competition will occur between nations.
Realizing that some big companies do not anticipate trying to be a bubble but a sustainable company company (Hasan, 2000). Good corporate governance, good corporate governance, it is believed capable of realizing that desire, because it not only aims to profit-oriented but also focus on the needs of its stakeholders. For that transparency, accountability, fairness, and responsibility is particularly important to understand both the organization and realized private organizations and public sector organizations.
Accounting, as an information provider, need to realize that high quality information is the foundation of good corporate governance. Therefore accounting principals need to be aware of their responsibilities to provide information and financial statements are reliable and accurate.
DEVELOPMENT AND INTERNATIONAL ACCOUNTING CLASSIFICATION
Globalization that has been faced by the nation of Indonesia would insist on efficiency and competitiveness in the business world. In intraregional relations concerning globalization and international competition will occur between nations.
Realizing that some big companies do not anticipate trying to be a bubble but a sustainable company company (Hasan, 2000). Good corporate governance, good corporate governance, it is believed capable of realizing that desire, because it not only aims to profit-oriented but also focus on the needs of its stakeholders. For that transparency, accountability, fairness, and responsibility is particularly important to understand both the organization and realized private organizations and public sector organizations.
Accounting, as an information provider, need to realize that high quality information is the foundation of good corporate governance. Therefore accounting principals need to be aware of their responsibilities to provide information and financial statements are reliable and accurate.
DEVELOPMENT AND INTERNATIONAL ACCOUNTING CLASSIFICATION
Accounting for International Development Studies Accounting is part of a function of a business environment in which it operates, and this knowledge is used to record business transactions. The origin of Accounting and amendment are best explored from the context of the history of trade transactions
(commercial).
We further argue that precede the beginning of the use of double-entry accounting as the origin of modern accounting is an important point in this regard.
Early influence of Italian
Recording of documents, namely the basis of accounting, has been traced back as far as 3600 years before Christ, and historians know that the mathematical concepts are understood in the ancient civilizations of China, India, and Mesopotamia, which is often said to be "origins of civilization" . Double-entry accounting in developing countries Italy between the 13th century until the 15th century. The most significant influence on accounting knowledge comes from Genoa, Florence, and Venice.
Luca Pacioli
Luca Pacioli was born in San Sepolcro in Tuscany, Italy in 1447, which is not an accountant but educated as a mathematician, published a book that significantly influence the application of accounting science summa de Arithmetica entitled, geometrica, propportioni et proportionalita, that which is better known as the Summa de Arithmetica. He claimed that the ideas and thoughts are not original, but he was the first to organize and publish it in a book. Pacioli introduces three important books in the recording, namely: memorandum books, journals, and ledgers. Pacioli states all transactions are either debit or credit needed to keep the transaction remains balanced.
Further developments ...
Publishing articles and books about the next accounting with more emphasis on efforts to implement better practices than the existing developed a general theory. Establishment of the developing countries and financial management requirements drive the need for better accounting practices. Changes in the corporate business world resulting in a change in priorities, but the authors of the accounting books clinging to the old form of accounting and no new theories are created.
After the development of large-scale businesses, there developed a need to assess depreciation, overhead and inventory allocation. With the increase in the amount of foreign investment and world trade resulted in the formation of regional economic groups such as the European Union, emerging issues concerning international business activities.
Accounting for environmental influences on
In a large degree, the needs of accounting in the business world very influenced by economic factors, social, and political. A model below shows the factors that affect the accounting system. Inside are the factors: the form of corporate ownership, the company's business activities, financial resources, level of development of capital markets, tax system, the influence of the accounting profession, accounting education and research, a form of political system, social circumstances, the rate of economic growth, inflation , form the legal system, and accounting regulations.
Early influence of Italian
Recording of documents, namely the basis of accounting, has been traced back as far as 3600 years before Christ, and historians know that the mathematical concepts are understood in the ancient civilizations of China, India, and Mesopotamia, which is often said to be "origins of civilization" . Double-entry accounting in developing countries Italy between the 13th century until the 15th century. The most significant influence on accounting knowledge comes from Genoa, Florence, and Venice.
Luca Pacioli
Luca Pacioli was born in San Sepolcro in Tuscany, Italy in 1447, which is not an accountant but educated as a mathematician, published a book that significantly influence the application of accounting science summa de Arithmetica entitled, geometrica, propportioni et proportionalita, that which is better known as the Summa de Arithmetica. He claimed that the ideas and thoughts are not original, but he was the first to organize and publish it in a book. Pacioli introduces three important books in the recording, namely: memorandum books, journals, and ledgers. Pacioli states all transactions are either debit or credit needed to keep the transaction remains balanced.
Further developments ...
Publishing articles and books about the next accounting with more emphasis on efforts to implement better practices than the existing developed a general theory. Establishment of the developing countries and financial management requirements drive the need for better accounting practices. Changes in the corporate business world resulting in a change in priorities, but the authors of the accounting books clinging to the old form of accounting and no new theories are created.
After the development of large-scale businesses, there developed a need to assess depreciation, overhead and inventory allocation. With the increase in the amount of foreign investment and world trade resulted in the formation of regional economic groups such as the European Union, emerging issues concerning international business activities.
Accounting for environmental influences on
In a large degree, the needs of accounting in the business world very influenced by economic factors, social, and political. A model below shows the factors that affect the accounting system. Inside are the factors: the form of corporate ownership, the company's business activities, financial resources, level of development of capital markets, tax system, the influence of the accounting profession, accounting education and research, a form of political system, social circumstances, the rate of economic growth, inflation , form the legal system, and accounting regulations.
International Accounting Classifications
International accounting classification can be done in two ways: By considerations and empirically.
There are 4 (four) approach to the development of accounting:
1. Based on the macroeconomic approach, obtained from the accounting practices and are designed to improve the national macroeconomic objectives.
2. Based on microeconomic approach, accounting bekembang of microeconomic principles. The goal lies in the individual companies that have the purpose to survive.
3. Based on an independent approach, derived from accounting and business practices developed on an ad hoc, with the base slowly and consideration, trial and error, and errors. Accounting services is seen as a function of the concepts and principles taken from the business process being run, and not from the branches of science such as economics.
4. Based on a uniform approach, accounting distandariasi and used as a tool for administrative control by the central government. Uniformity in the measurement, disclosure, and will facilitate the presentation of the designer of government, tax authorities, and even managers to use accounting information in controlling all types of businesses.
Accounting system can also be classified by the laws of a State.
(1) Accounting in common law countries have a fair presentation of the character-oriented, transparency and full disclosure and the separation between financial and tax accounting. Dominate the stock market financial resources and financial reporting needs infrmasi shown to outside investors. Accounting law commonly referred to as the Anglo Saxon.
(2) accounting in code law countries have a legalistic-oriented characteristics, does not allow disclosure of the amount is less, and conformity between financial and tax ankuntansi. Bank or financial ksumber dominate the government and financial reporting and financial reporting is intended to protect creditors. Accounting is also called continental. Provision of accounting parallels the character referred to as the shareholder model and stakeholder role in corporate governance kelila state common law and the legal code.
International accounting classification can be done in two ways: By considerations and empirically.
There are 4 (four) approach to the development of accounting:
1. Based on the macroeconomic approach, obtained from the accounting practices and are designed to improve the national macroeconomic objectives.
2. Based on microeconomic approach, accounting bekembang of microeconomic principles. The goal lies in the individual companies that have the purpose to survive.
3. Based on an independent approach, derived from accounting and business practices developed on an ad hoc, with the base slowly and consideration, trial and error, and errors. Accounting services is seen as a function of the concepts and principles taken from the business process being run, and not from the branches of science such as economics.
4. Based on a uniform approach, accounting distandariasi and used as a tool for administrative control by the central government. Uniformity in the measurement, disclosure, and will facilitate the presentation of the designer of government, tax authorities, and even managers to use accounting information in controlling all types of businesses.
Accounting system can also be classified by the laws of a State.
(1) Accounting in common law countries have a fair presentation of the character-oriented, transparency and full disclosure and the separation between financial and tax accounting. Dominate the stock market financial resources and financial reporting needs infrmasi shown to outside investors. Accounting law commonly referred to as the Anglo Saxon.
(2) accounting in code law countries have a legalistic-oriented characteristics, does not allow disclosure of the amount is less, and conformity between financial and tax ankuntansi. Bank or financial ksumber dominate the government and financial reporting and financial reporting is intended to protect creditors. Accounting is also called continental. Provision of accounting parallels the character referred to as the shareholder model and stakeholder role in corporate governance kelila state common law and the legal code.
International accounting differences bring a number of problems from the standpoint of financial analysis.
First, in an effort to assess foreign companies, there is a tendency to look at revenues and other financial data from the standpoint of their home country, and because of the danger of ignoring the effects of accounting differences. Unless significant difference was taken into account, possibly with some involvement of a restatement, it may have very serious consequences. Secondly, awareness of international differences suggest the need to become familiar with generally accepted accounting principles as a destination for foreign countries to know better income data in the context of measurement. Third, the issue of comparable properties and the harmonization of accounting is reviewed in the context of alternative investment opportunities.
In the international accounting is divided into three broad areas, Accounting includes several extensive process include:
1. Measurement
Can provide in-depth feedback on the probability of a company's operations and financial position of strength.
2. Disclosure
The process by which accounting measurement is communicated to the users of financial statements and used in decision making or process of communicating to the user.
3. Auditing
The process by which the special accounting professionals (auditors) perform attestation (testing) on reliability of measurement and communication processes.
History of International Accounting and International Financial Sector Policy Trend Initially, Accounting starts with double-entry system (double entry bookkeeping) in Italy in the 14th century and 15. Double entry bookkeeping (double entry bookkeeping), considered the beginning of the creation of accounting. Modern accounting double entry accounting began to find and use in the business activities of multiple listing system (double entry bookkeeping) Luca Pacioli introduced by (yr 1447).
Luca Pacioli was born in Italy in 1447, he was not an accountant but the priest who is an expert mathematician, and lecturer at several universities in Italy. Lucalah person who first published the basic principles of double accounting system in his book: the Arithmetica geometria proportioni Summa et proportionalita in the year 1494. It is admitted by Luca (Radebaugh, 1998) "Pacioli did not claim That his ideas were original, just that he was the one WHO was Trying to organize and publish them. He objective was to publish a popular book That Could be used by all, following the influence of the venetian businessmen rather than bankers ".
Luca introduced the 3 (three) important notes that must be done:
1. Memorandum book, the book records of all business transaction information.
2. Journals, where the transaction whose information has been stored in a memorandum book and then recorded in the journal.
3. Great book, is a book that summarizes the above journals. General ledger is the center of the accounting system (Raddebaugh, 1996).
1850's double-entry bookkeeping reached the British Isles that causes the growth of public accounting and public accounting profession is organized in Scotland and England in the 1870s.
Trend International Financial Sector Policy
Development of Islamic banking system in Indonesia is carried out within the framework of dual-banking system or the dual banking system in the framework of the Indonesian Banking Architecture (API), to present an alternative to the more complete banking services to the people of Indonesia. Taken together, the system of Islamic banking and conventional banking in synergy to support the mobilization of public funds more broadly to improve financing for the national economy sectors.
Islamic Banking Development Policy in Indonesia
To provide guidance to stakeholders and put the position of Islamic banking and how to view Bank Indonesia in developing Islamic banking in Indonesia, Bank Indonesia later in 2002 had published a "Blueprint of Development of Islamic Banking in Indonesia". In its formulation, various aspects have been considered in a comprehensive manner, including the actual condition of the national Islamic banking industry and its related tools, the development trend of Islamic banking industry in the international and national development of Islamic financial system that began to manifest itself, and can not be separated from the framework of financial system macro is more like the Indonesian Banking Architecture (API) and the Indonesian Financial System Architecture (ASKI) as well as international best practices formulated Islamic financial institutions, such as the IFSB (Islamic Financial Services Board), AAOIFI and IIFM.
To provide guidance to stakeholders and put the position of Islamic banking and how to view Bank Indonesia in developing Islamic banking in Indonesia, Bank Indonesia later in 2002 had published a "Blueprint of Development of Islamic Banking in Indonesia". In its formulation, various aspects have been considered in a comprehensive manner, including the actual condition of the national Islamic banking industry and its related tools, the development trend of Islamic banking industry in the international and national development of Islamic financial system that began to manifest itself, and can not be separated from the framework of financial system macro is more like the Indonesian Banking Architecture (API) and the Indonesian Financial System Architecture (ASKI) as well as international best practices formulated Islamic financial institutions, such as the IFSB (Islamic Financial Services Board), AAOIFI and IIFM.
Grand Strategy of Islamic Banking Market Development
As a concrete step development efforts of Islamic banking in Indonesia, Bank Indonesia has formulated a Grand Strategy of Islamic Banking Market Development, a comprehensive strategy of market development which includes strategic aspects, namely: Determination of the vision 2010 as a leading Islamic banking industry in ASEAN, image formation The new national Islamic banking which is inclusive and universal, a more accurate mapping of the market, a more diverse product development, service improvement, as well as a new communications strategy that positioned the Islamic banking is more than just a bank
As a concrete step development efforts of Islamic banking in Indonesia, Bank Indonesia has formulated a Grand Strategy of Islamic Banking Market Development, a comprehensive strategy of market development which includes strategic aspects, namely: Determination of the vision 2010 as a leading Islamic banking industry in ASEAN, image formation The new national Islamic banking which is inclusive and universal, a more accurate mapping of the market, a more diverse product development, service improvement, as well as a new communications strategy that positioned the Islamic banking is more than just a bank
The Role of Accounting in the Business Sector Development and Global capital markets and international accounting classification is the era of globalization, businesses and communities have become increasingly complex so requires the development of a variety of disciplines including Accounting Accounting has developed very rapidly in line with the growth and development of business letters securities, especially shares in the capital markets business. The American public already knows the business since 1900 (Belkaoui, 2007). In the transaction, both the investors and prospective investors have been using the company's financial information as one of the guidelines in making predictions and for making business decisions, the investment in securities, particularly stocks.
May (2000) Tanri Abeng (1999) in Djalil (2000), states that there are six basic root of the problem that causes slow improvement in Indonesia's economy, namely: It turned out that the rapid growth of Indonesia before the crisis because it encouraged more investment growth is not due to efficiency and innovation. The majority of the market value of listed companies on the JSE was overvalued (90% of the value of publicly traded companies is determined by the growth expectation, only 10% above the real ability to earn profits; different from developed countries, 30% growth expectation, 70% real capability). Company's financial structure is not healthy (loans over 100% compared to its equity, healthy company should be below 50% of ekuitinya). The existence of mark-up in lending. Unhealthy concentrations of economic (economic pyramid, above: there are 200 private conglomerate owned by 50 families, were: almost empty. There is no good governance (the lowest according to McKinsey 1999)
On the other hand, Indonesia faced economic challenges of the 21st century that economic globalization. Economic globalization is a process of economic activity and trade, in which countries around the world into one market power is increasingly integrated with the territorial limits of the state without a hitch.
Challenges in the global era is globalization that has been faced by the nation of Indonesia would insist on efficiency and competitiveness in the business world. Therefore accounting principals need to be aware of their responsibilities to provide information and financial statements are reliable and accurate.
May (2000) Tanri Abeng (1999) in Djalil (2000), states that there are six basic root of the problem that causes slow improvement in Indonesia's economy, namely: It turned out that the rapid growth of Indonesia before the crisis because it encouraged more investment growth is not due to efficiency and innovation. The majority of the market value of listed companies on the JSE was overvalued (90% of the value of publicly traded companies is determined by the growth expectation, only 10% above the real ability to earn profits; different from developed countries, 30% growth expectation, 70% real capability). Company's financial structure is not healthy (loans over 100% compared to its equity, healthy company should be below 50% of ekuitinya). The existence of mark-up in lending. Unhealthy concentrations of economic (economic pyramid, above: there are 200 private conglomerate owned by 50 families, were: almost empty. There is no good governance (the lowest according to McKinsey 1999)
On the other hand, Indonesia faced economic challenges of the 21st century that economic globalization. Economic globalization is a process of economic activity and trade, in which countries around the world into one market power is increasingly integrated with the territorial limits of the state without a hitch.
Challenges in the global era is globalization that has been faced by the nation of Indonesia would insist on efficiency and competitiveness in the business world. Therefore accounting principals need to be aware of their responsibilities to provide information and financial statements are reliable and accurate.
Development and International Accounting Classification
Accounting for International Development Studies
Accounting is part of a function of a business environment in which it operates, and this knowledge is used to record business transactions. The origin of Accounting and amendment are best explored from the context of the history of trade transactions (commercial). We further argue that precede the beginning of the use of double-entry accounting as the origin of modern accounting is an important point in this regard.
Early influence of Italian
Recording of documents, namely the basis of accounting, has been traced back as far as 3600 years before Christ, and historians know that the mathematical concepts are understood in the ancient civilizations of China, India, and Mesopotamia, which is often said to be "origins of civilization" . Double-entry accounting in developing countries Italy between the 13th century until the 15th century. The most significant influence on accounting knowledge comes from Genoa, Florence, and Venice.
Accounting for environmental influences on
In a large degree, the needs of accounting in the business world very influenced by economic factors, social, and political. A model below shows the factors that affect the accounting system. Inside are the factors: the form of corporate ownership, the company's business activities, financial resources, level of development of capital markets, tax system, the influence of the accounting profession, accounting education and research, a form of political system, social circumstances, the rate of economic growth, inflation , form the legal system, and accounting regulations.
International Accounting Classification
International accounting classification can be done in two ways: By considerations and empirically.
There are 4 (four) approach to the development of accounting:
A. Based approach to macroeconomic
2. Based on microeconomic approach
3. Based on independent approaches
4. Based on a uniform approach
Accounting system can also be classified by the laws of a State.
Accounting in common law countries have a fair presentation of the character-oriented, transparency and full disclosure and the separation between financial and tax accounting. Dominate the stock market financial resources and financial reporting needs infrmasi shown to outside investors. Commonly referred to as the accounting law and accounting in the Anglo Saxon countries have a code of law-oriented characteristics of legalistic, does not allow disclosure of the amount is less, and conformity between financial and tax ankuntansi.
Accounting for International Development Studies
Accounting is part of a function of a business environment in which it operates, and this knowledge is used to record business transactions. The origin of Accounting and amendment are best explored from the context of the history of trade transactions (commercial). We further argue that precede the beginning of the use of double-entry accounting as the origin of modern accounting is an important point in this regard.
Early influence of Italian
Recording of documents, namely the basis of accounting, has been traced back as far as 3600 years before Christ, and historians know that the mathematical concepts are understood in the ancient civilizations of China, India, and Mesopotamia, which is often said to be "origins of civilization" . Double-entry accounting in developing countries Italy between the 13th century until the 15th century. The most significant influence on accounting knowledge comes from Genoa, Florence, and Venice.
Accounting for environmental influences on
In a large degree, the needs of accounting in the business world very influenced by economic factors, social, and political. A model below shows the factors that affect the accounting system. Inside are the factors: the form of corporate ownership, the company's business activities, financial resources, level of development of capital markets, tax system, the influence of the accounting profession, accounting education and research, a form of political system, social circumstances, the rate of economic growth, inflation , form the legal system, and accounting regulations.
International Accounting Classification
International accounting classification can be done in two ways: By considerations and empirically.
There are 4 (four) approach to the development of accounting:
A. Based approach to macroeconomic
2. Based on microeconomic approach
3. Based on independent approaches
4. Based on a uniform approach
Accounting system can also be classified by the laws of a State.
Accounting in common law countries have a fair presentation of the character-oriented, transparency and full disclosure and the separation between financial and tax accounting. Dominate the stock market financial resources and financial reporting needs infrmasi shown to outside investors. Commonly referred to as the accounting law and accounting in the Anglo Saxon countries have a code of law-oriented characteristics of legalistic, does not allow disclosure of the amount is less, and conformity between financial and tax ankuntansi.
Bank or financial ksumber dominate the government and financial reporting and financial reporting is intended to protect creditors. Accounting is also called continental. Provision of accounting parallels the character referred to as the shareholder model and stakeholder role in corporate governance kelila state common law and the legal code.
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