INTERNATIONAL ACCOUNTING HARMONIZATION

“Harmonization” is a process to improve the compatibility (suitability) accounting practices by setting limits on how large these practices may vary.
Include the harmonization of accounting harmonization:
1. Accounting standards (which relates to the measurement and disclosure)
2. Disclosures made by public companies associated with the securities offering and listing on stock exchanges
3. Auditing standards

Survey of International Harmonization
Profit International Harmonization:
1. Into global capital markets and investment capital can move across the globe without a hitch. High-quality financial reporting standards that are used consistently throughout the world will improve the efficiency of capital allocation.
2. Investors can make better investment decisions; portfolio will be more diverse and less financial risk.
3. Companies can improve decision making strategies in the areas of mergers and acquisitions.
4. The best ideas arising from the standard pat-making activity is spread in developing global standards of the highest quality.
Criticism of the International Standards
Some penentusn says concerning that international accounting standards is a very simple solution for complex problems. Furthermore, it feared that the adoption of international standards will lead to “excessive standards”. Companies must respond to the pressure composition of the national, political, social, and economic and increasingly made the MAGs to meet additional international regulations are complicated and costly.

Joint Reconciliation and Recognition
Two approaches are proposed as a possible solution is used to overcome the problems associated with cross-border financial report:
1. Reconciliation
Through reconciliation, a foreign firm can prepare financial statements using accounting standards country of origin, but must provide a reconciliation between the accounting measures (such as net income and shareholders’ equity) in the country of origin and in countries where financial statements are reported.
2. Mutual recognition (which is also referred to as the “payoff” / reciprocity)
Mutual recognition occurs when the regulator outside the country of origin to receive the financial statements of foreign companies which are based on the principles of country of origin.

Application of International Standards
International accounting standards are used as a result of:
1. International treaties or political
2. Voluntary compliance (or being pushed in a professional manner)
3. Decision by the international accounting standards-making body

Major International Organizations Promoting Harmonization of Accounting
Six organizations have become a major player in the determination of the international accounting standards and in promoting international harmonization of accounting:
1. International Accounting Standards Board (IASB)
2. Commission of the European Union (EU)
3. International Organization of the Capital Market Commission (IOSCO)
4. International Federation of Accountants (IFAC)
5. Intergovernmental Working Group of Experts on the United Nations International Standards of Accounting and Reporting (International Standards of Accounting and Reporting – Isar), part of the United Nations Conference in Trade and Development (United Nations Conference on Trade and Development-UNCTAD)
6. Accounting Standards Working Group in the Organization of Economic Cooperation and Development OECD Working Group)

International Accounting Standards Board
International Accounting Standards Board (IASB), formerly AISC, founded in 1973 by professional accounting organizations in nine countries.
IASB objectives are:
1. To develop in the public interest, a set of global accounting standards are of high quality, understandable and can be applied which requires high quality information, transparent, and comparable financial statements.
2. To encourage the use and application of these standards are strictly
3. To bring the convergence of national accounting standards and International Accounting Standards and International Financial Reporting toward high quality solutions

sumber : http://arniladwilestari.wordpress.com/2010/12/18/harmonisasi-akuntansi-internasional/

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