PPT UEU Akuntansi Internasional Pertemuan 1

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PROGRAM STUDI AKUNTANSI FAKULTAS EKONOMI DAN BISNIS

UNIVERSITAS ESA UNGGUL

Akuntansi

Internasional

EBA 604

AKUNTANSI INTERNASIONAL

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DETAIL MATA KULIAH

• _{Kode Mata Kuliah : EBA 604}

• _{Nama Mata Kuliah : Akuntansi Internasional} • _{Bobot sks : 2 sks}

• _{Deskripsi Mata Kuliah :}

– Matakuliah ini dirancang untuk memungkinkan mahasiswa memahami

comparative accounting. Dengan pemahaman ini mahasiswa diharapkan mendapatkan orientasi global dari akuntansi dan memahami perbedaan antar-negara dalam hal format, isi, dan disklosur dalam pelaporan keuangan. Selanjutnya, matakuliah ini juga dirancang untuk mendalami berbagai isu penting dalam akuntansi untuk perusahaan multinasional. Dengan pendalaman ini diharapkan dapat memperkuat pemahaman konsep atau teori akuntansi bagi mahasiswa. Fokus pengajaran pada aspek akuntansi internasional maka pembahasan di kelas menitik beratkan pada pembahasan metode pemeriksaan akuntansi melalui penyampaian materi, diskusi dan presentasi tugas kelompok, serta tugas dan partisipasi individu.

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MATERI SEBELUM UTS

4

0

1 Introduction to International _Accounting 0

2 World Wide Accounting _Diversity 0

3 International Harmonization of Financial Reporting

0

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MATERI SETELAH UTS

EBM914 - Pemasaran Internasional 6097 - Rina Anindita 5

0

8 Additional Financial Reporting _Issues 0

9 Analysis of Foreign Financial _Statements 1

0 International Taxation 1

1 International Transfer _Pricing 1

2 Strategic Accounting Issues in _{Multinational Corporations} 1

3 Comparative International Auditing and Corporate Governance

1

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KEMAMPUAN AKHIR YANG DIHARAPKAN

• _{Evaluasi Hasil Pembelajaran} • _{Diskusi dan Partisipasi} _10%

• _{Penulisan Makalah Individu} _20%

• _{Penyajian dan Penyelesaian Kasus 20%} • _{Ujian Tengah Semester} _25%

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Chapter 1

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Introduction to International Accounting

Learning Objectives

1. Understand the nature and scope of international accounting

2. Describe accounting issues created by international trade

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Introduction to International Accounting

Learning Objectives

4. Describe the practice of cross-listing on foreign stock exchanges

5. Explain the notion of international harmonization of accounting standards

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What is International Accounting?

International Accounting can be

described at three diferent levels: • _{The infuence on accounting by}

international political groups such as the OECD, UN, etc.

• _{The accounting practices of companies in}

response to their own international business activities

• _{The diferences in accounting standards}

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International Transactions, FDI and Related Accounting Issues

Sale to foreign customer

• _{Most companies’ frst encounter with}

international business occurs as sales to foreign customers.

• _{Often, the sale is made on credit and it is}

agreed that the foreign customer will pay in its own currency (e.g., Mexican pesos).

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This gives rise to foreign exchange risk as the

value of the foreign currency is likely to change in

relation to the company’s home country currency

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Suppose that on February 1, 2006, Joe Inc., a U.S.

company, makes a sale and ships goods to Jose,

SA, a Mexican customer, for $100,000 (U.S.). However, it is agreed that Jose will pay in

pesos

on March 2, 2006. The exchange (spot) rate as of

February 1, 2006 is 10.00 pesos per U.S. dollar.

How many pesos does Jose agree to pay?

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Even though Jose SA agrees to pay 1,000,000

pesos ($100,000 x 10.00 pesos/U.S. $), Joe, Inc.

records the sale (in U.S. dollars) on February 1,

2006 as follows:

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Suppose that on March 2, 2006, the spot

rate for

pesos is 11 pesos/U.S. $). Joe Inc. will receive

1,000,000 pesos, which are now worth $90,909.

Joe makes the following journal entry: Dr. Cash (+) 90,909

Dr. Loss on foreign exchange (+) 9,091 Cr. Accounts receivable 100,000

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Hedging

Joe can hedge (i.e., protect itself) against a loss

from an exchange rate fuctuation. Hedging

can

be accomplished by various means, including:

Foreign currency option – the right (but not the

obligation) to purchase foreign currency at a

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Hedging

Forward contract – this is an obligation to exchange foreign currency at a date in the

future,

typically 30, 60 or 90 days.

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Foreign Direct Investment (FDI) – occurs when a

company invests in a business operation in a foreign country. This represents an

alternative to

importing to customers and/or exporting from

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Foreign Direct Investment (FDI)

Greenfeld investment – the establishment of a

new operation in the foreign country

Acquisition – investment in an existing operation

in the foreign country.

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FDI creates two primary issues:

• _{The need to}_convert_{from local to U.S.}

GAAP since accounting records are usually prepared using local GAAP.

• _{The need to}_translate_{from local currency}

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International Income Taxation

• _{Foreign income taxes}_{– the foreign}

government will tax the company’s profts at applicable rates.

• _{U.S. income taxes}_{– the U.S. will tax the}

company’s foreign-based income.

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International Transfer Pricing

• _{Transfer pricing}_–_{setting prices on}

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These exchanges are not arms-length transactions, thus giving rise to the

certain

problems in an international context:

Taxation – governments in the various countries

often scrutinize transactions to assure that sufcient profts are being recorded in that

country.

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• _{Performance evaluation issues}_{– to the}

extent that division managers are

evaluated based on divisional profts,

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International Auditing

Both internal and external auditors encounter

diferences that arise between auditing in an

international vs. domestic context. These

include:

• _{Language and cultural diferences}

• _{Diferent accounting standards (GAAP) and}

auditing standards (GAAS)

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Cross-listing on Foreign Stock Exchanges

MNEs frequently raise capital outside their

home country. When a company ofers its

shares on an exchange outside of its home

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International Harmonization of Accounting Standards

The international movement towards a single

set of worldwide accounting rules is referred to

as Harmonization. International Accounting

Standards (IAS) and U.S. GAAP are currently

the two most important sets of accounting

rules.

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International Harmonization of Accounting Standards

The Norwalk Agreement

• _{Published in 2002.}

• _{Is a promise of cooperation in}

standard-setting between the International

Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).

• _{Represents a signifcant step toward}

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The Global Economy

Several indicators demonstrate the extent of

business globalization:

• _{International trade}_–_{In 2001 exports}

worldwide topped $6 trillion. Between

1987 and 1999, U.S. exporters increased by 233% in number.

• _{Foreign Direct Investment}_–_Between

1982 and 1999 worldwide FDI infows

increased from $58 billion to $865 billion.

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• _{Multinational enterprises (MNEs)}_–

Companies that have headquarters in one country and operate in one or more other countries. Currently, MNEs account for

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• _{International capital markets}_–_{In 2001}

there were 462 companies representing 53 countries cross-listed on the New York

Stock Exchange (NYSE). In addition, over 60 U.S. companies are cross-listed on

foreign exchanges…

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PPT UEU Akuntansi Internasional Pertemuan 1

Akuntansi

Internasional

DETAIL MATA KULIAH

Chapter 1

SEKIAN

DAN