The application of IFRS Efisienkan Preparation of Financial Statements
Medan (ANTARA News) - The Director of Technical Accounting Association Ersa Tri Wahyuni rate, the application of international accounting standards or IFRS reporting in the statement of financial accounting standards create efficiencies beneficial financial statements.
"There are several benefits to be gained from the convergence of IFRS (International Financial Reporting Standard) into the SFAS (Statement of Financial Accounting Standards), which creates efficiencies in the preparation of financial statements," he said in Medan on Wednesday.
Ersa declare it a national seminar titled Developments in Accounting Standards and Their Impact on Business, held after appointment of administrators Institute of Accountants (IAI) North Sumatra period 2011-2015 led Gus Irawan.
Another benefit of the convergence of IFRS into the FRS, which facilitates an understanding of the financial statements by the use of financial accounting standard known internationally.
Besides, he added, the application of IFRS to GAAP is also effective in lowering the cost of capital to open a "fund raising" through capital markets globally.
If the later is fully adopt IFRS, he estimates the quality of financial reporting information in this country will increase, including the quality of the financial statements of State-Owned Enterprises (SOEs).
Mentioned, the Financial Accounting Standards Board Accounting Association (DSAK-IAI) has started the process of convergence since 2009 and is expected to be completed early in 2012.
IFRS convergence by 2012 target was revised FRS that are materially in accordance with the IFRS version of January 1, 2009, effective January 1, 2012.
"IFRS is not just changing the way companies create financial statements, but also change how the company does business," he explained.
To menyahuti demands into GAAP IFRS convergence is absolutely necessary readiness of practitioners, including management accountants, public accountants, accountants, academics and preparedness amongst regulators and other support professionals, such as appraisers and actuaries.
According to him, the application of GAAP-based IFRS will impact the business world, especially in the corporate decision-making based on accounting data.
In addition to the impact on accounting and financial reporting of the company, he said, konvegensi IFRS also affects the company's information technology systems, human resources involved in the company and the impact on the company's organizational system.
To expedite the process of adoption of SFAS, continued Ersa, the success of the transition is the key.
Associated with changes in financial accounting standards, he said, effective measures need to be firm during the transition period is to establish the convergence of IFRS adhoc team is responsible for the initial preparation and organizing resources.
"The success of the application of international accounting standards in the country, irrespective of the capital market, taxation and other regulatory authorities," said Ersa.
ikatakan, now widely adopted IFRS GAAP number of countries to respond to the demand of institutional investors and other users of financial statements.
Accounting Association on December 23, 2008 has declared plans to converge IFRS into GAAP. (ANT197/M034/K004)
Medan (ANTARA News) - The Director of Technical Accounting Association Ersa Tri Wahyuni rate, the application of international accounting standards or IFRS reporting in the statement of financial accounting standards create efficiencies beneficial financial statements.
"There are several benefits to be gained from the convergence of IFRS (International Financial Reporting Standard) into the SFAS (Statement of Financial Accounting Standards), which creates efficiencies in the preparation of financial statements," he said in Medan on Wednesday.
Ersa declare it a national seminar titled Developments in Accounting Standards and Their Impact on Business, held after appointment of administrators Institute of Accountants (IAI) North Sumatra period 2011-2015 led Gus Irawan.
Another benefit of the convergence of IFRS into the FRS, which facilitates an understanding of the financial statements by the use of financial accounting standard known internationally.
Besides, he added, the application of IFRS to GAAP is also effective in lowering the cost of capital to open a "fund raising" through capital markets globally.
If the later is fully adopt IFRS, he estimates the quality of financial reporting information in this country will increase, including the quality of the financial statements of State-Owned Enterprises (SOEs).
Mentioned, the Financial Accounting Standards Board Accounting Association (DSAK-IAI) has started the process of convergence since 2009 and is expected to be completed early in 2012.
IFRS convergence by 2012 target was revised FRS that are materially in accordance with the IFRS version of January 1, 2009, effective January 1, 2012.
"IFRS is not just changing the way companies create financial statements, but also change how the company does business," he explained.
To menyahuti demands into GAAP IFRS convergence is absolutely necessary readiness of practitioners, including management accountants, public accountants, accountants, academics and preparedness amongst regulators and other support professionals, such as appraisers and actuaries.
According to him, the application of GAAP-based IFRS will impact the business world, especially in the corporate decision-making based on accounting data.
In addition to the impact on accounting and financial reporting of the company, he said, konvegensi IFRS also affects the company's information technology systems, human resources involved in the company and the impact on the company's organizational system.
To expedite the process of adoption of SFAS, continued Ersa, the success of the transition is the key.
Associated with changes in financial accounting standards, he said, effective measures need to be firm during the transition period is to establish the convergence of IFRS adhoc team is responsible for the initial preparation and organizing resources.
"The success of the application of international accounting standards in the country, irrespective of the capital market, taxation and other regulatory authorities," said Ersa.
ikatakan, now widely adopted IFRS GAAP number of countries to respond to the demand of institutional investors and other users of financial statements.
Accounting Association on December 23, 2008 has declared plans to converge IFRS into GAAP. (ANT197/M034/K004)
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