kuliah i - accounting theory (2011!08!08) print

8/3/2019 Kuliah I - Accounting Theory (2011!08!08) Print

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ACCOUNTING

THEORY

STIE Dr. Mochtar Thalib- -


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Curriculum Vitae

Name : Mahbub Junaedi

Address : Cilangkap Rt. 005/03 Cipayung Jakarta Timur.

Phone : 0811900371; 0813 177 86577

e-mail : [email protected]; [email protected]

EDUCATION

a. FE-UI Majoring in Accounting (1998)

b. D-IV STAN Majoring in Accounting (2000)

c. FHUI Majoring in Business Lawd. S2 FHUI Majoring in International Trade Law

WORKING EXPERIENCE

a. Kabid Analisis Kerugian Industri Dalam Negeri

Komite Anti Dumping Indonesia (2006)

b. Indonesian Safeguard Committee Investigatorc. Indonesian Anti Dumping Committee Investigator (2005-2009)


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SAPKuliah Pokok Bahasan Uraian

1 Teori Akuntansi Pengertian teori akuntansi & metodologi

2 Sejarah Perkembangan Akuntansi Sejarah Perkembangan Akuntansi

3 Konsep2 Pengukuran & Struktur Akuntansi Pengertian Konsep2 Pengukuran dan StrukturAkuntansi

4 Kebijakan Akuntansi Kebijakan Akuntansi

5 Sifat dan Tujuan Akuntansi Keuangan Pengertian Tentang Sifat & Tujuan Aktsi Keu.

6 Income dalam Laporan Akt. Keuangan Pengertian & Teori Income dlm Lap. Akuntansi

Keuangan7 Reserves, Expenses, Gain & Loses

8 UTS

9-10 Aktiva Sifat Aktiva dan Pengukurannya

11-12 Kewajiban Konsep Kewajiban dan Pengukurannya13-14 Modal Konsep Pemilik Modal (Owners Equity)

15 Perkembangan Akt. Untuk masa yad Scope teori Aktsi di masa yad & Current Issues

16 UAS/ UPS

Ref.: Teori Akuntansi (Eldon S. Hendriksen / Ahmed R. Belkaoui


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GRADING SCHEME

Alternative I Partisipasi/ Presentasi : 20% Paper : 20% Mid Test : 25% Final Exam : 30%

Presensi : 5%

Alternative II


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Introduction Brief Overview

Ideal Condition Information Users Decision AccountingIntermediary

Asymmetry Problem Reaction

---------------------- ---------------------- ----------------------- ------------------------------------------

Complete and

Perfect Information

Adverse Rational Expectation FullDisclosure

Selection in decision making

Value-Based FASB, IFAC,IAI

Moral Hazard Bonus/Compensation Hard NetIncome

(self-interest) package (use acc. procedure

Debt covenants consistency)

Theory --- to explain

---


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Accounting under Ideal Condition

1.

Objectives of Financial Reportingto provide useful financial information for decision making.

the information shall be relevance and reliable (trade-off)

Contoh dalam Market Value Accounting:. current value accounting & current cost accounting (inflation accounting) high in

relevance, poor in reliability.. historical cost relevance

-- reliability

Relevance

Historical Cost

Reliability


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Teori Akuntansi

Teori : suatu rangkaian gagasan (konsep), definisi, danusulan yang saling berhubungan yang melambangkansuatu pandangan sistematis atas fenomena melaluipenentuan hubungan yang ada diantara variabel-variabeldengan tujuan untuk menjelaskan dan meramalkan

fenomena. Menurut E.S. Hendriksen, Teori Akuntansi adalah

serangkaian prinsip2 yang luas yang (1) memberikansuatu kerangka referensi umum dimana praktik akuntansidapat dievaluasi dan (2) memandu perkembangan daripraktik dan prosedur baru.


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Accounting Theory Introduction and Methodology of Accounting

1. Approaches to (the development of) Accounting Theory. Tax Approach. Legal Approach. Ethical Approach. Economic Approach (Macro, Micro, and Corporate Social Acc.).

Behavioral Approach. Structural Approach

2. Classifying Accounting Theories. by its level (theory as language) : syntactic, semantic, pragmatic. by its reasoning (theory as reasoning): deductive, inductive.

by its stance (theory as script): normative-prescriptive, positive-descriptive

3. Theory Verification establishing the acceptability, or the truth,of a theory.


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Accounting Theory Approaches to Accounting Theory

Question to Ask

Tax : What is the tax situation?

Legal : What is required by law? Are there anyspecific regulations covering this industry?

Ethical : What is the right thing to do? Is this fair presentation?

Economic : What effect will this accountingprocedures have on the economy? What effect willthis choice of accounting procedure have onshareholders? Is there full disclosure of the factsbehind the procedure? What effect will this have on

other stakeholders?Behavioral : why does management want to make

this choice?

Structural : Is there a specific rule covering thissituation? What is the definition of revenue? What is

GAAP? What are others doing in the industry?


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Tax Approach

Tax institution is not so much interested in measuring the income ofa company as establishing a base for tax purposes. Income tax were important in bringing the average accounting

practice up to the standards of the better companies at the time. Regrettably, Income tax rules have had adverse effects on

accounting theory and principles in many areas. The tendency toaccept income tax provisions as accepted accounting principles andpractices is unfortunate. e.g.:

(a) Any depreciation method acceptable for tax purposes isacceptable for accounting purposes also, regardless of whetheror not it follows good accounting theory.

(b) LIFO must be used for financial reporting purposes if it isused in the tax return.


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Legal Approach

for legal opinion purposes. e.g. sale be recognized when legal titlepasses.. Much case law involves the nature of income.

it is of the essence of income that it should be realized. Potentiality is notenough income necessarily implies separation and realization. The increaseof the forests is not income until it is cut. The increase in the value of lands due

to the growth and prosperity of the community is not income until it isrealized. .. The FASB, in establishing a Conceptual Framework for accounting,

investigated the use of law to establish accounting principles.


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Ethical Approach

The ethical approach to accounting theory places emphasis on theconcepts of justice, truth (in accordance with the fact~representationalfaithfulness), and fairness.

Ethical considerations have a pervasive influence on all ofaccounting.


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Economic Approach

Accountants have long attempted to interpret accounting concepts in terms ofeconomic concept (exploring the correspondence between economic

interpretations and accounting data):(a) Macroeconomic

Macroeconomic approach attempts to explain the effect of alternative reportingprocedures on economic measurements and economic activities at a levelbroader than the firm, such as an industry or national economy. e.g. Sweden, doattempt to base accounting concepts and practices on macroeconomic goals,while most countries implement macroeconomic policies through monetary and

fiscal policies and direct controls

(b) Microeconomic

A Microeconomic approach to accounting theory attempts to explain the effect ofalternative reporting procedures on economic measurements and economicactivities at the level of the firm.

Modern accounting theory focuses on the enterprise as an economic entity with

its main activities affecting the economy through its operations in markets.(c) Corporate Social Accounting

The costs of environmental pollution, unemployment, unhealthful workingconditions, and other social problems are not normally reported by a firm(microeconomic view of accounting does not necessarily encompass all theeffects companies have on society).


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Behavioral Approach

Behavioral theories attempt to measure and evaluate the economic,psychological, and sociological effects of alternative accounting procedures

and reporting media. The behavioral approach to accounting theory has stimulated a search

among both academic and practicing accountants for basic objectives ofaccounting and for answers to questions, such as:- who are the users of published financial statements?- what is the nature of the specific information wanted by the several user

groups?

- can common needs be found for the presentation of general-purpose statements or should specific needs be met?


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Structural Approach

Focus on the structure of the accounting system itself. Accountants attempt to classify similar transactions similarly or, more

formally, to seek consistency in recording and reporting transactions. AIA (1941) defined accounting as:

Accounting is the art of recording, classifying, and summarizing in asignificant manner and in terms of money, transactions, and events, which arein part, at least, of a financial character, and interpreting the results thereof.

Although broader definition of accounting are in vogue today, the process ofRecording, Classifying, and Summarizing --- is the heart of accounting.


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Accounting Theory Classifying Accounting Theories by its Level

1. Theory as Language

What effect will the words have on listeners? What meaning, if any, do the words have? Do the words make logical sense?

Pragmatics is the study of the effect of language

Semantics is the study of the meaning of language

Syntactics is the study of the logic or grammar of the language.

2. Theory as Reasoning

a) deductive reasoning

the form of theoretical debate/the arguments flow from generalizations tospecifics: different objectives different structure different principles.

e.g. Tax Accounting vs Financial Accounting

b) inductive reasoningthe form of theoretical debate/the arguments flow from specifics togeneralizations.

Accounting theory can be considered as empirical / rely on experience.

In accounting, the generalizations = postulates


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Theory as Reasoning

Accountants hope to deduce accounting principles that will provide a basisfor concrete or practical applications. With the deductive method, practical applications and rules are deduced

from the postulates and not from observing practices. With the inductive method, principles are induced from best current

practice.


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Accounting Theory Classifying Theories

TheoryDescriptive or Prescriptive

(positive vs normative)

Reasoning Language

-------------------------------------------------------------------------------------------------------

--1. Deduction (is it logically sound?) 1. Syntactics (what are the rule?)

2. Induction (what evidence is there?) 2. Semantics (what does it mean?)3. Pragmatics (what effect will it

have?)


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SEJARAH PERKEMBANGAN AKUNTANSI

4.000 Years of Accounting The Renaissance Accountings Antecedents The Age of Stagnation The Rise of the Profession The Future of Accounting

The Renaissance

The earliest double-entry bookkeeping systems are found in Northern Italy anddate back to 14th century. Brother Lucas Pacioli codified these systems in anappendix to a book published in Venice in 1494.

Accountings AntecedentsAccounting flowered in a soil made rich by centuries of learning, trade with theEast, inventions like the lateen sail, printing, and a new number system. Muchof this was brought to Europe from China and India by Arab Scholars.


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The Age of Stagnation

Relatively few developments occurred in accounting in the next severalcenturies. This period was marked by great explorations such as that of theAmericas by Columbus and by the onset of Industrial Revolution

The Rise of the Profession

Accounting Professionals began making their appearance in the late 18thcentury. The English and Welsh Institute of Chartered Accountants wasfounded in 1880. the American Institute followed in 1887.

The Future of Accounting

Accounting developed in response to upheavals in the environment, new

discoveries, and technological advances. There is no reason to believe thataccounting will not continue to evolve in response to changes that we areexperiencing in our times.


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1. Evolusi Pembukuan Pencatatan Berpasangan Sejarah Awal Akuntansi Kontribusi Luca Pacioli Perkembangan Pembukuan Pencatatan Berpasangan

2. Relevansi Sejarah Akuntansi

Scott , Goethe, Cayley -- Apakah Profesi Akuntansi adalah Profesi yangTerhormat? dikaitkan dengan fungsinya sebagai: Alat pertanggungjawaban Alat untuk mencegah terjadinya fraud (kecurangan) Alat untuk membantu dalam pengambilan keputusan (industri, dunia usaha,

pemerintah, manajer bisnis, dll.)


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EXERCISE I

1.

What is the Conceptual Framework for Accounting / financialreporting - under IFRS & PSAK?

2. What is the purpose and status of the conceptual framework - underIFRS & PSAK?

3. What is the scope of the conceptual framework - under IFRS &PSAK?

4. What is the objective of financial reporting - under IFRS & PSAK?

5. What is the qualitative characteristics of useful financial information- under IFRS & PSAK?

6. Gambarkan dalam bentuk flow chart Accounting Cycle

7. Sebutkan jenis-jenis Laporan Keuangan yang utama menurut IFRS/

PSAK!8. Sebutkan dan Jelaskan unsur-unsur Laporan Posisi Keuangan

menurut PSAK dan IFRS?


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A Conceptual Framework For Accounting

Going Concern

Arms LengthTransaction

Economic Entity

AccrualAccounting

AccountingPeriods

Stable MonetaryUnit

IMPLEMENTATIONGUIDELINES

Recognition Measurement Reporting

FUNDAMENTAL CONCEPTS

Qualitative Characteristics ofAccounting Information

Elements of Financial Statements

OBJECTIVES

Information for Decision Making


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1. Objectives of Financial Reporting

Overall Objective:

Provide useful information for decision making

Primary Objectives:

Provide information:

a) for assessing cash flow prospects

b) about financial conditionc) about performance and earnings

d) about how funds are obtained and used

Additional Objectives:

Provide information:a) that allows managers to make decisions in the best interest of owners

b) that allows owners to assess managements performance

c) as explanations and interpretations to help users understand thefinancial information provided.


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Information Spectrum


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261-26


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Hierarchy of Accounting Information Qualities


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2. Fundamental Concepts

A. Qualitative Characteristics of Accounting Information

1. Overriding quality decision usefulness2. Primary qualities

a) Relevance.predictive value.feedback value.timeliness

b)

Reliability)verifiability)neutrality)representational faithfulness

3. Secondary Qualities

a) Comparability

b) Consistency4. Constraints

a) Cost effectiveness (pervasive constraint)

b) Materiality (recognition threshold)

c) Conservatism (healthy skepticism)


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2. Fundamental Concepts

B. Elements of Financial Statements

1. Assets

2. Liabilities

3. Equity

4. Investments by owners

5. Distribution to owners6. Comprehensive income

7. Revenues

8. Expenses

9. Gains

10. Losses


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3. Implementation Guidelines

A. Recognition Criteria

1) Definition 2) Measurability 3) Relevance 4) Reliability

B. Measurement Attributes

1) Historical Cost 4) Net Realizable Value

2) Current Replacement Cost 5) Present (or discounted) value

3) Current Market Value

C. Financial Reporting

1) Full Disclosure

2) Set of general-purpose financial statements

a. Financial position

b. Earnings (net income or loss)

c. Comprehensive income

d. Cash flows

e. Investments by and distributions to owners


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4. Traditional Assumptions of Accounting Model

a) Economic Entityb) Going Concern

c) Arms-Length Transaction

d) Stable Monetary Unit

e) Accounting Periods

f) Accrual Accounting


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Karakteristik Umum Laporan Keuangan


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Review of The Accounting Process


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SUMMARY OF DOUBLE-ENTRY ACCOUNTING

1. Assets are always increased by debits and decreased by credits

2. Liability and owners equity accounts are always increased bycredits and decreased by debits.

3. Owners equity for a corporation includes capital stock accounts andthe retained earnings account.

4. Revenues, expenses, and dividends relate to owners equity through

the retained earnings account.5. Expenses and dividends are increased by debits and decreased by

credits.

6. Revenues are increased by credits and decreased by credits.

7. The difference between total revenues and total expenses for a

period is net income (loss), which increases (decreases) ownersequity through Retained Earnings.


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Debit and Credit Relationships of Accounts

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