Senin, 21 Maret 2016

Comparative Accounting : The Mexico and Indonesian



Mexico, Spanish country, has the largest population in the world. It has generally the free market economy. The company that is had or controlled by the government dominates with oil and infrastructure, while private company dominates manufacture industry, construction, mine, entertainment and service. Since the establishment of the North American free trade agreement (NAFTA / North America Free Trade Agreement). The growth of the Mexican economy has increased. But with other international countries are becoming more prominent in the global arena, it is important for Mexico to access funding. Mexico requires openness in a cooperation as a goal to achieve sustainable economic development. Historically, Mexico accounting has been affected by the accounting principles of united states generally accepted accounting and auditing standards of the United States. The powerful effect is required by Mexico to foreign investment coming from the US. Furthermore many companies in mexico who register themselves into the world's largest stock market. Their tendency to look to the US accounting standards has increased after the making of NAFTA, but Mexico at regular intervals see IFRS when the US standard is not able to fulfill their wishes. The Constitution of Mexico establishes professional associations to establish responsibility part of their activities. Association of accountants through the country delegates capacity with regard to the rules to IMCP, which is also an institution that oversees the accounting profession in Mexico. IMCP oversees the accounting profession in Mexico. IMCP issued accounting and auditing standards, as well as a code of ethics for accountants such as AICPA in the United States. IMCP establishes continuing education requirements, investigates and regulates professional practice. In 2001 IMCP formed CINIF. This institution is responsible for making the accounting standards in line with IFRS. Accounting in Asia many developing countries such as Indonesia have had a history of colonization (the Netherlands); india, pakistan, hongkong, singapore and malaysia (English); and the Philippines (Spain / USA), China has also been influenced by western ideas and socialist from the former Soviet Union. In 1997, many developing countries in Asia suffered a setback of confidence in the financial markets, which led to the financial crisis. A possible solution to get out of this condition is to improve the quality and transparency of accounting by adopting quality and transparency of higher accounting of accounting standards.

International Financial Reporting Standards (IFRS) is made as a reference for the development of financial accounting standards in Indonesia because IFRS is a standard that is very sturdy. The preparation is supported by experts and international consultative councils from around the world. They provide enough time and supported by literature feedback from hundreds of people from various disciplines and from a variety of jurisdictions around the world. With the declaration of the IFRS convergence program, then in 2012 all the standards issued by the Financial Accounting Standards Board IAI will refer to IFRS and applied by entities.
Accounting standards in Indonesia is currently not using fully (full adoption) international accounting standards or International Financial Reporting Standard (IFRS). Indonesian accounting standards in force today refers to US GAAP (United States Generally Accepted Accounting Standard), but in some of the provisions they have already adopted IFRS as its harmonization. Adoption by Indonesia at this time is not yet in full adoption, only some (harmonization). Current era of globalization requires an international accounting system that can be applied internationally in every country, or required the harmonization of international accounting standards, with the aim to produce financial information that can be compared, facilitate the competitive analysis and good relations with customers, suppliers, investors, and creditors. However, this harmonization process has other barriers between nationalism and culture of each country, differences in the system of government in each country, the differences between the interests of multinational corporations with national companies which influence the process of harmonization between countries, as well as high costs for changing accounting principles. Information technology is developing rapidly making the information available worldwide. The rapid information technology is the access for many investors to enter the capital market in the world, which is not hindered by the limitations of the Country. This needs can not be met if the companies still use different financial reporting principles.

Mexico
Indonesian
The institution of Standard Accountancy Mexico publishes accountancy standard and auditing. It is developed by accountancy committee principal, while auditing standard becomes the responsibility of Procedure Committee and auditing standard. Accountancy career in Mexico is good, well organized and appreciated by business people. Mexico commercial law and ultimate tax law consists of certainty about making the certainty note and financial report, but the influence of those things can be said minimal.

There are three milestones ever reached in the development of financial accounting standards in Indonesia. The first principle, ahead of the reactivation of the capital market in Indonesia in 1973. Then, the second milestone occurred in 1984. At that time, the committee of PAI revised fundamentally PAI 1973 and later on condified this in a book "Principles of Indonesia Accounting 1984" Next in 1994, IAI re-revised fundamentally the PAI 1984 and condified this in a book "Financial Accounting Standards (SAK) per October 1, 1994".
The Financial Report
Mexico company fiscal year must walk in together with calendar year. The comparative consolidation financial report must be arranged like this:
·         Balance
·         Profit and loss report
·         The exchange holder equity changing report
·         The financial position changing report
The Financial Report:
·         Balance
·         The calculation of profit/loss
·         The report of cash flow
·         The exchange of equity
·         The note of financial report

Accountancy Measurement :
a.Business combination using the purchase method
b.Goodwill is the excess the purchase price to the present value of net assets acquired
c.Tangible assets / intangible depreciated / amortized over the useful lives (usually no more than 20 years).
Accountancy Measurement :
a.Merger using the pooling of interest method or pooling of interest and method of purchase (purchase).
b.Goodwill arising from the acquisition are capitalized and amortized over a maximum of 5 until 20 years.

References :
Frederick D.S. Choi, dan Gary K. Meek, International Accounting, Jakarta: Salemba Empat,2010.
Zebua. 2008, Akuntansi Internasional, Jakarta: MitraWacana Media jilid 1
(Diakses pada tanggal 20 Maret 2016 pukul 18.59 WIB)
http://www.slideshare.net/kiki_ariani/perkembangan-tentang-ifrs (Diakses pada tanggal 20 Maret 2016 pukul 19.14 WIB)
Gamayuni, Rindu Rika, 2009, Perkembangan Standar Akuntansi Keuangan Indonesia menuju International Financial Report Standarts (IFRS) , Jurnal Akuntansi dan Keuangan. Vol 14. No.2