Akuntansi

Internasional
PERTEMUAN #1
Introduction to International Accounting

Selfiaty S.E., M.Ak

DETAIL MATA KULIAH
Nama Mata Kuliah : Akuntansi Internasional
Bobot sks : 3 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

01 Introduction to International Accounting

02 World Wide Accounting Diversity

03 International Harmonization of Financial Reporting

04 International Financial Reporting Standard

05 Comparative Accounting
06 FX Transaction and Hedging
07 Translation of Foreign Currency
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MATERI SETELAH UTS

08 Additional Financial Reporting Issues

09 Analysis of Foreign Financial Statements

10 International Taxation

11 International Transfer Pricing

12 Strategic Accounting Issues in Multinational

Corporations

13 Comparative International Auditing and Corporate

Governance
14 Comparative International Auditing and Corporate
Governance
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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%
Ujian Akhir Semester 25%

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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
3. Explain reasons for, and accounting issues
associated with, foreign direct investment (FDI)

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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
6. Examine the importance of international trade,
FDI, and multinational enterprises (MNEs) in the
global economy

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 What is International Accounting?

International Accounting can be

described at three different levels:
The influence 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 differences in accounting standards and
practices between countries

Learning Objective 1
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 International Transactions, FDI and Related Accounting
Issues

Sale to foreign customer

Most companies’ first 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).

Learning Objective 2
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 International Transactions, FDI and Related Accounting
Issues

Sale to foreign customer

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
(e.g., U.S dollars).

Learning Objective 2
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 International Transactions, FDI and Related Accounting
Issues

Sale to foreign customer

Suppose that on February 1, 2016, 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, 2016. The exchange (spot) rate as of
February 1, 2016 is 10.00 pesos per U.S. dollar.
How many pesos does Jose agree to pay?

Learning Objective 2
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 International Transactions, FDI and Related Accounting
Issues

Sale to foreign customer

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,
2016 as follows:
Dr. Accounts receivable (+) 100,000
Cr. Sales revenue (+) 100,000

Learning Objective 2
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 International Transactions, FDI and Related Accounting
Issues

Sale to foreign customer

Suppose that on March 2, 2016, 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

Learning Objective 2
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 International Transactions, FDI and Related Accounting
Issues

Hedging
Joe can hedge (i.e., protect itself) against a loss
from an exchange rate fluctuation. Hedging can
be accomplished by various means, including:
Foreign currency option – the right (but not the
obligation) to purchase foreign currency at a
specific exchange rate for a specified period of
time.

Learning Objective 2
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 International Transactions, FDI and Related Accounting
Issues

Hedging
Forward contract – this is an obligation to
exchange foreign currency at a date in the future,
typically 30, 60 or 90 days.

Learning Objective 2
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 International Transactions, FDI and Related Accounting
Issues

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
suppliers in a foreign country. Two types of FDI
are Greenfield investment and acquisition.

Learning Objective 3
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 International Transactions, FDI and Related Accounting
Issues

Foreign Direct Investment (FDI)

Greenfield investment – the establishment of a
new operation in the foreign country
Acquisition – investment in an existing operation
in the foreign country.

Learning Objective 3
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 International Transactions, FDI and Related Accounting
Issues

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 to U.S.
dollars since accounting records are usually
prepared using local currency.

Learning Objective 3
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 International Income Taxation

Foreign income taxes – the foreign government

will tax the company’s profits at applicable rates.
U.S. income taxes – the U.S. will tax the
company’s foreign-based income.

Learning Objective 3
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 International Transfer Pricing

Transfer pricing – setting prices on goods and

services exchanged between separate divisions
within the same firm. These prices have a direct
impact on the profits of the different divisions.

Learning Objective 3
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 International Transfer Pricing

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
sufficient profits are being recorded in that country.

Learning Objective 3
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 International Transfer Pricing

Performance evaluation issues – to the extent

that division managers are evaluated based on
divisional profits, transfer prices influence division
manager performance evaluation.

Learning Objective 3
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 International Auditing

Both internal and external auditors encounter

differences that arise between auditing in an
international vs. domestic context. These
include:
Language and cultural differences
Different accounting standards (GAAP) and
auditing standards (GAAS)

Learning Objective 3
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 Cross-listing on Foreign Stock Exchanges

MNEs frequently raise capital outside their

home country. When a company offers its
shares on an exchange outside of its home
country, this is referred to as Cross-Listing.

Learning Objective 4
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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.

Learning Objective 5
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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 significant step toward international
harmonization.

Learning Objective 5
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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 inflows increased from $58
billion to $865 billion.

Learning Objective 6
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 The Global Economy

Several indicators demonstrate the extent of

business globalization:
Multinational enterprises (MNEs) – Companies
that have headquarters in one country and operate
in one or more other countries. Currently, MNEs
account for over one-quarter of the world’s Gross
Domestic Product (GDP).

Learning Objective 6
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 The Global Economy

Several indicators demonstrate the extent of

business globalization:
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…

Learning Objective 6
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SEKIAN
DAN
TERIMA KASIH
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