Harmonisasi Implementasi International Financial Reporting Standards terhadap Sistem Hukum di Indonesia

The application of International Financial Reporting Standards (IFRS) in Indonesia became a major issue areas in accounting today. Because of accounting system and financial reporting is prepared IFRS to be different from Indonesia Generally Accepted Accounting Principles (GAAP). Financial reporting is the company's management accountability to stakeholders (investors, creditors, governments and communities). For investors, the financial statements are one of the benchmarks to determine their investment decisions. For that reason, the application of IFRS should be implemented in harmony in Indonesia. The expectation is the information in the financial reporting to be relevant and reliable for interested parties, i.e. investors, creditors, governments and communities. Government regulations related to the company's business processes will be the key success factors of IFRS implementation. They are not fully supported the IFRS implementation in Indonesia. For example, the decrease in value on fixed assets revaluation (International accounting standard 36). There is only rules in the increase in value on fixed assets revaluation (PMK RI No.79/PMK.03/2008). In order to the application of IFRS become harmony, researcher offers the House of Generally Accepted Accounting Principles model which can be used as the foundation for implementing IFRS in Indonesia. At house of GAAP, the constitution and ideology of Indonesia, i.e. UUD45 and Pancasila become the foundation. As a result, the application of IFRS in Indonesia can be associated with the existing legal regulations in Indonesia. So this paper aims to propose a framework (house of Indonesian GAAP) for the implementation of IFRS harmonization of the legal system in Indonesia. The house of Indonesian GAAP model is based on UUD 45 and Pancasila and also the legal system in Indonesia. Through this house of Indonesian GAAP model, harmonization of the implementation of IFRS may take place smoothly

Criticality analysis for improving maintenance, felling and pruning cycles in power lines

16th IFAC Symposium on Information Control Problems in Manufacturing INCOM 2018 Bergamo, Italy, 11–13 June 2018. Edited by Marco Macchi, László Monostori, Roberto PintoThis paper deals with the process of criticality analysis in overhead power lines, as a tool to improve maintenance, felling & pruning programs. Felling & pruning activities are tasks that utility companies must accomplish to respect the servitudes of the overhead lines, concerned with distances to vegetation, buildings, infrastructures and other networks crossings. Conceptually, these power lines servitudes can be considered as failure modes of the maintainable items under our analysis (power line spans), and the criticality analysis methodology developed, will therefore help to optimize actions to avoid these as other failure modes of the line maintainable items. The approach is interesting, but another relevant contribution of the paper is the process followed for the automation of the analysis. Automation is possible by utilizing existing companies IT systems and databases. The paper explains how to use data located in Enterprise Assets Management Systems, GIS and Dispatching systems for a fast, reliable, objective and dynamic criticality analysis. Promising results are included and also discussions about how this technique may result in important implications for this type of businesse

Accounting policy as a tool of enterprise management system

The essence of the concept “accounting policy” in its modern sense, main principles and problems of its formation are discussed in the article. The process of accounting policy implementation into enterprise practical activity under accounting reforms conditions in Ukraine has been under consideration. Main stages of accounting policy formation have been considered. Organizational and methodical basis of accounting policy formation at micro- and macro- levels has been highlighted. State participation in requirements setting on accounting policy content and structure, its detailed elaboration degree, area of usage, accounting policy focus on different groups of accounting information users has been specified. Statutory regulations and legislative instruments of accounting policy formation have been explained, its place in enterprise management system has been studied. Ways of improvement of Order of enterprise accounting policy taking into account accounting issues have been determined. Directions of further research have been proposed

Defining the dimensions of engineering asset procurement: towards an integrated model

Procuring engineering asset management is a critical activity of all types of government, with optimal approaches to procurement still in need of identification. This paper advances a novel approach of exploring the procurement of engineering assets across a number of dimensions: Project rules, organisational interaction rules and complexity. The dimensions of project rules are held to include cost, quality and time. The dimensions of organisational interaction rules are held to be collaboration, competition and control. Complexity is seen as in the project itself, in the interaction between organisations or in the business environment. Taken together these dimensions seem salient for any type of engineering asset, and provide a useful way of conceptualising procurement arrangements of these assets

The historical evolution of accounting in China (novissima sinica): effects of culture (2nd part).

Este artículo intenta explicar los criterios que sustentan la idea de que la contabilidad China ha sido conformada durante el pasado siglo con arreglo a factores culturales, económicos y políticos. Asimismo se propone estudiar los fenómenos históricos experimentados por la contabilidad china en el transcurso de los años, y evaluar comparativa y críticamente los efectos culturales de los mismos con las transformaciones políticas y económicas que han tenido influencia en el desarrollo de la contabilidad China. This paper attempts to argue the criteria which claim that Chinese accounting has been shaped by together with cultural, economical and political factors in the last century. This paper also aims to compare historical phenomena which occurred in Chinese accounting over the years, and then to assess comparatively or critically the effects of culture with politic and the economic transformations on the development of Chinese accounting.Contabilidad comparativa, contabilidad china, factores culturales, historia, sociología. Chinese accounting, comparative accounting, cultural factors, evolution, history, sociology.

Impact at Scale: Policy Innovation for Institutional Investment With Social and Environmental Benefit

Explores policy options to maximize impact investing opportunities for institutional investors and accelerate the development of impact investing practices and products. Presents case studies of and insights from investors and service providers

Corporate risks, risk bearing ability and equity

There is a relation between corporate risks, risk bearing ability and equity. In order to assess the risk bearing ability of a corporation, one reference figure is equity, understood as the sum of legal capital and reserves, free reserves and accrued profits. Equity shows the risk bearing ability related to the risk of asset reduction as well as the ability of the corporation to attract new liquidity by increasing debts, in case of a negative free cash flow. Equity is the risk reserve of the corporation. The relation between equity and risk bearing ability allows defining the necessary amount of equity by analyzing the corporate risks. Furthermore, it leads to rules for the valuation of assets, the creation of reserves and as to the board’s duty of care on how to pursue the corporate strategy

Nordic welfare financiers made global portfolio investors : institutional change in pension fund governance in Sweden and Finland

Pension funds have lately emerged as an essential field of study in various disciplines within social sciences. Political economists, economic geographers and some social policy researchers have studied the role of pension funds very broadly for instance in context of labour market relations, economic development and financial systems. Yet comparative studies in social and public policy have for long studied pension funding mostly in respect to its role in pension systems and reforms, and to the effects of investment returns to the development of retirement income benefits. Whereas the comparative studies have mostly focused on the savings and ‘liability side’ (e.g. pension benefits) of pension funds, in this paper, we conduct a comparative analysis on the politics of ‘the asset side’. It is argued that the economic and social consequences of the usage of pension capital need to be understood as intrinsic parts of pension regimes that cannot be left outside classification of these regimes in social sciences. Our comparative analysis studies the historical regulative institutional development paths of pension fund investment governance in Finnish (TEL/TyEL) and Swedish (ATP/AP, PPM) first pillar, second tier pension systems. The time period of the analysis is from the establishment of these systems in late 1950s and early 1960s to the recent reforms of last few years. Both systems have developed so that the role of financier of national economy has decreased and the role of more global portfolio investor increased over time. We argue, however, that there have been very significant differences between the institutional development paths leading to the new investor roles. The Swedish model has included more paradigmatic qualitative changes in the whole pension regime whereas the changes in Finnish pension fund governance have been rather parametric and quantitative. The financial crisis of 2007–08 has also illustrated some essential differences between the current systems