Some differences Keuanngan Accounting Standards and International Finance Reporting Standard
GAAP combined basis of principles and the rule base while the principles-based IFRS only;
If the historical value lower then stated at historical cost, whereas IFRS historical value still used;
IFRS presentation tendency value assets and liabilities at fair value;
IFRS presents a comparison of the fair value of the historical;
In IFRS there is a change of terms and components of the financial statements;
Judgment professional use.
Editor: B Kunto Wibisono
reference: Thursday, July 21, 2011 1:40 pm | 3113 Views
oriented decided to International Financial Reporting Standards or IFRS.
The deadline set for all business and government entities to use IFRS is January 1, 2012.
"All the preparations to be done that way because it will begin on January 1, 2012. Try seen the impact on costs due to the transfer standard will cause additional costs, "said Finance Minister Sri Mulyani Indrawati in Jakarta, Wednesday (5/5), as a keynote speaker in a seminar on" IFRS Implementation and taxation aspects. "
She said the convergence of accounting to IFRS should be supported in order to get maximum recognition from the international community has long embraced this standard.
"If the standard is needed and will improve as the country's position in the world who could be trusted with the governance and accountability to the people with better and consistent, of course it needs to be done," he said.
In addition to IFRS, polar applicable accounting standards in the world today is the United States General Accepted Accounting Principles (U.S. GAAP).
Countries that joined the European Union, including the UK, using International Accounting Standards (IAS) and International Accounting Standard Board (IASB).
Once oriented to the Netherlands, the latter using the Statement of Financial Accounting Standards (SFAS) prepared by the Institute of Accountants (IAI). First SFAS IAI oriented to the United States and later from 2012 to switch to IFRS.
GAAP combined basis of principles and the rule base while the principles-based IFRS only;
If the historical value lower then stated at historical cost, whereas IFRS historical value still used;
IFRS presentation tendency value assets and liabilities at fair value;
IFRS presents a comparison of the fair value of the historical;
In IFRS there is a change of terms and components of the financial statements;
Judgment professional use.
Editor: B Kunto Wibisono
reference: Thursday, July 21, 2011 1:40 pm | 3113 Views
oriented decided to International Financial Reporting Standards or IFRS.
The deadline set for all business and government entities to use IFRS is January 1, 2012.
"All the preparations to be done that way because it will begin on January 1, 2012. Try seen the impact on costs due to the transfer standard will cause additional costs, "said Finance Minister Sri Mulyani Indrawati in Jakarta, Wednesday (5/5), as a keynote speaker in a seminar on" IFRS Implementation and taxation aspects. "
She said the convergence of accounting to IFRS should be supported in order to get maximum recognition from the international community has long embraced this standard.
"If the standard is needed and will improve as the country's position in the world who could be trusted with the governance and accountability to the people with better and consistent, of course it needs to be done," he said.
In addition to IFRS, polar applicable accounting standards in the world today is the United States General Accepted Accounting Principles (U.S. GAAP).
Countries that joined the European Union, including the UK, using International Accounting Standards (IAS) and International Accounting Standard Board (IASB).
Once oriented to the Netherlands, the latter using the Statement of Financial Accounting Standards (SFAS) prepared by the Institute of Accountants (IAI). First SFAS IAI oriented to the United States and later from 2012 to switch to IFRS.
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