An Integrated Approach to Beginning Financial Accounting and Finance Courses

2011 ◽  
Vol 27 (1) ◽  
pp. 299-336 ◽  
Author(s):  
Victoria B. McWilliams ◽  
Michael F. Peters
Keyword(s):  
Student Learning ◽  
Integrated Approach ◽  
Financial Statements ◽  
Financial Information ◽  
Financial Accounting ◽  
Business Curriculum ◽  
Financial Instruments ◽  
Business Decisions ◽  
Business Environments ◽  
External Pressures

ABSTRACT In response to external pressures for a business curriculum that recognizes how business decisions are made, the Villanova School of Business has a six-credit-hour, team-taught course that integrates the introductory financial accounting course with principles of finance. The class provides students with a better understanding of how the two disciplines relate, and students leave the course with a richer, more robust awareness of both topic areas and how they come together. One theme throughout the course is the use of financial statements and other financial information in valuation of financial instruments such as stocks and bonds. This course better prepares for most business environments, which increasingly requires professionals to complete tasks assuming skills from both disciplines. This manuscript describes the course, its benefits and drawbacks, the content, as well as examples of materials created for the course to facilitate student learning.

scholarly journals Fair Values: A Framework For Teaching The Standards On Accounting For Financial Instruments

2011 ◽  
Vol 1 (4) ◽  
Author(s):  
Michael O. Mensah ◽  
Huldah A. Ryan ◽  
Hong V. Nguyen
Keyword(s):  
Conceptual Framework ◽  
Financial Reporting ◽  
Integrated Approach ◽  
Financial Accounting ◽  
Financial Instruments ◽  
Reporting Requirements ◽  
Framework For Teaching

This paper presents a conceptual framework for an integration of financial reporting objectives and principles related to financial instruments. We believe this integrated approach to be a superior strategy for discussing this diverse and challenging topic. In our experience, the typical piecemeal coverage of individual instruments scattered in financial accounting texts and other literature is not effective in providing students with a critical appreciation of the evolution in financial reporting requirements in this area. Our approach in this paper is to classify financial instruments into groups according to their special characteristics as a basis for understanding their relevant financial reporting attributes. Within this conceptual framework, we then present a synthesis of reporting objectives and existing FASB pronouncements on financial instruments. Using this framework as a roadmap, students should be able to study current and emerging pronouncements in a conceptually organized and integrated fashion.

scholarly journals Implementation of SAK EMKM in CV Adro Textile through an Action Research Approach as a Form Financial Management Accountability

2019 ◽  
Vol 3 (2) ◽  
pp. 66
Author(s):  
Ali Farhan ◽  
Resha Dwi A. P. Mulyono
Keyword(s):  
Action Research ◽  
Financial Management ◽  
Financial Statements ◽  
Financial Information ◽  
Financial Accounting ◽  
Research Approach ◽  
Accounting Standard ◽  
Lack Of Information ◽  
Action Research Approach ◽  
Research Procedure

Most of micro business industries have a problem on accountabilty and lack of information on financial and management knowledges. CV Adro Textile is one of the micro business which faced those problems. This research aims to introduce an accounting policy and standard into action research methodolgy for a micro business such as CV Adro Textile. CV Adro textile is a manufacturing company that engaged in the garment sector. During its business, CV Adro Textile faced some problems regarding to the financial information. CV Adro Textile cannot ensure the profit that been generated, the cash turnover, and the production cost as well as the financial information for the taxation need. Through the action research, this research tried to implement the EMKM financial accounting standard to fulfill CV Adro Textile’s needs to the accountable financial statements.  Action research is a research procedure aims to implement a new policy based on needs and problems of the research object. The results of this research were an accounting recording system for CV Adro Textile based on SAK EMKM and an evaluation of the SAK EMKM application that apparently could not accommodate the whole recording needs and information of an industry. This paper contribute to the way of intorducing an accounting standart into a micro entity

scholarly journals ORGANIZATION AND IMPLEMENTATION OF EXTERNAL AUDIT QMS AT THE ENTERPRISE

2020 ◽  
Vol 5 (11(80)) ◽  
pp. 23-25
Author(s):  
N. Gavrikova ◽  
I. Chegnov ◽  
D. Tarkhanova
Keyword(s):  
Financial Statements ◽  
Financial Information ◽  
Financial Accounting ◽  
External Audit ◽  
Financial Condition

In this article, external audit is considered as one of the priority tools for implementation in an organization. It is aimed precisely at ensuring that information, in particular information about the financial statements of an enterprise, is not distorted in the course of its activity (especially important for investors who are actively studying the financial accounting of companies of interest to them for further investment in their shares or bonds). This allows you to maintain a stable financial condition of the company, contribute to its improvement, facilitate clear control of the flow of financial information and reduce the organization's credit debts.

scholarly journals ANALISIS PENERAPAN PSAK 50 DAN PSAK 55 ATAS CADANGAN KERUGIAN PENURUNAN NILAI

2014 ◽  
Vol 8 (3) ◽  
Author(s):  
Yusni Husain ◽  
Jullie J. Sondakh ◽  
Heince Wokas
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Financial Assets ◽  
International Accounting Standards ◽  
Financial Instruments ◽  
Financial Accounting Standards Board ◽  
Financial Reporting Standards ◽  
Ias 39

The application of the new accounting standards that are influential in the banking convergence with International Financial Reporting Standards and International Accounting Standards discussed in (IAS) 39 on recognition and measurement of financial instruments. Financial Accounting Standards Board issued Statement of Financial Accounting Standards (SFAS) 50 and 55 of the Presentation, Recognition and Measurement of Financial Instruments will be effective on January 1, 2012. Allowance for Impairment (Impairment Loss) is derived from the value of the amount to be recorded at recoverable value of the asset. This research was conducted at PT. Bank Mandiri Unit 1 Datulolong Lasut Manado (Persero) Tbk . The purpose of this study was to determine the extent of the application of SFAS 50 and SFAS 55 to the recognition, measurement and presentation of the allowance for impairment losses PT. Bank Mandiri Unit 1 Datulolong Lasut Manado (Persero) Tbk. The results suggest the application of SFAS 50 and SFAS 55 top Allowance for Impairment Losses by PT Bank Mandiri Tbk. compliance with applicable standards.The process of recognition of Allowance for Impairment Losses at amortized value using the effective interest rate. Measuring the level of collective impairment for financial assets is calculated based on the loss historical collectively. Presentation of receivables in the financial statements is the value after deducting the allowance for impairment losses.

scholarly journals EVALUASI PENERAPAN PENGUNGKAPAN INFORMASI ASET KEUANGAN MENURUT PSAK 60 PADA PT. BANK NEGARA INDONESIA (PERSERO) TBK

2016 ◽  
Vol 11 (2) ◽  
Author(s):  
Zwingly Juliano Stefanus Pangkey ◽  
Lintje Kalangi ◽  
Robert Lambey
Keyword(s):  
Data Analysis ◽  
Financial Performance ◽  
Information Disclosure ◽  
Qualitative Method ◽  
Accounting Standards ◽  
Financial Statements ◽  
Financial Accounting ◽  
Financial Assets ◽  
Financial Instruments ◽  
Analysis Method

Financial Assets is one of the factors that really support banking company's business. Statement of Financial Accounting Standards (SFAS) No. 60 about Financial Assets: disclosure head for organize entities to giving disclosure in their financial statements which enable the users to evaluate the significance of financial instruments to the position and financial performance of the entity, characteristic, and risk scope which apeear from financial instruments which the entity’s exposed during period and in the end of reporting period, and how the entity managing the risk. The object of this research is PT. Bank Negara Indonesia (Persero) Tbk. with  financial statements and notes to the financial statements of December 31, 2014 and 2015 as sample. The data analysis method used in this study is a qualitative method. From the research, the results that can be concluded about the application of financial assets information disclosure  at PT. Bank Negara Indonesia (Persero) Tbk. is appropriate  with Statement of Financial Accounting Standards (SFAS) No. 48 about financial assets: disclosure but not yet revealing about values related to offsets and about default. Expected in the  future PT. Bank Negara Indonesia (Persero) Tbk. could add disclosure about offsetting values and default. . Keyword : Bank, Financial Assets, Disclosure, Financial Instrument

scholarly journals Transparansi Pengelolaan Masjid dengan Laporan Keuangan Berdasarkan Pernyataan Standar Akuntansi Keuangan (PSAK 45)

2011 ◽  
Vol 2 (1) ◽  
pp. 135
Author(s):  
Wiwin Kurniasari
Keyword(s):  
Public Space ◽  
Financial Reporting ◽  
Financial Management ◽  
Financial Statements ◽  
Financial Information ◽  
Financial Accounting ◽  
Non Profit ◽  
Financial Condition ◽  
Reporting Systems ◽  
Other Information

This article describes about the financial management of the mosque, which is one major factor in maintaining the survival and prosperity of the mosque. Good financial management of the mosque, also requires accurate financial reporting systems, especially relating to: 1) the circumstances and conditions of pilgrims, 2) the circumstances and financial condition of the property and the mosque and, 3) other information required in connection with the interests of the mosque. It aims to accountability to the board and the mosque. In order to apply the principle of openness (transparency) and accountability to the community, the management of an organizational entity in this public space mosques need to make corrections administration, including the publication of consolidated financial accountability. The growing demands on the implementation of accountability in this mosque, it will increase the need for transparency of financial information. This financial information serves as a basic consideration in the decision making process. Therefore we need the financial management of the mosque is based on the Statement of Financial Accounting Standards (PSAK) No. 45 requires accounting in organizations non-profit (in this case is a mosque) using the accrual method, which consists of statements of financial position, activity reports, cash flow statement and notes to the financial statements (IAI 2007).

scholarly journals ANALISIS KEPATUHAN PT BANK RAKYAT INDONESIA (PERSERO) Tbk PADA REVISI PSAK 60

2017 ◽  
Vol 6 (1) ◽  
pp. 35
Author(s):  
Lisa Christy Longgorung ◽  
Ventje Ilat
Keyword(s):  
Research Method ◽  
Accounting Standards ◽  
Financial Statements ◽  
Fair Value ◽  
Financial Accounting ◽  
Financial Assets ◽  
Financial Instruments ◽  
Financial Instrument ◽  
Loan Terms ◽  
Bank Disclosure

Statement of Financial Accounting Standards (SFAS) 60 adjustment in 2014 is a standard that governs the disclosure of financial instruments. This greatly affects the standard of disclosure of details of banking information Indonesia on financial assets in the financial statements, as the industry is highly regulated, allegedly the level of compliance of the Bank Rakyat Indonesia (BRI) to implement the standard was high. Financial assets consist of available-for-sale, held to maturity, loans and receivables, and financial assets at fair value through profit or loss. This study aimed to see if the BRI bank disclose financial assets in accordance with SFAS No. 60 adjustment, 2014. The research method is descriptive qualitative. The results showed BRI bank in the disclosure of their financial assets in accordance with SFAS No. 60 adjustment in 2014 but the management did not express because the default has been completed and the loan terms have been renegotiated before the end of the reporting period. Bank BRI to apply IAS 60 and keep abreast of revisions in accordance with the specified standard. So that transparency in the disclosure of financial statements BRI clearer and can build higher trust of our customers and shareholdersKeywords : bank,disclosure, financial instrument

scholarly journals A Survey on Accounting for Derivatives and Other Financial Instruments

1970 ◽  
Vol 15 (2) ◽  
pp. 131-147
Author(s):  
Alan Reinstein ◽  
Gerald Lander
Keyword(s):  
Financial Statements ◽  
Fair Value ◽  
Financial Derivatives ◽  
Securities And Exchange Commission ◽  
Financial Accounting ◽  
Financial Instruments ◽  
Financial Accounting Standards Board ◽  
Derivative Instruments ◽  
Gains And Losses ◽  
Financial Securities

In response to the recent growth in the use of derivative financial instruments, the Financial Accounting Standards Board (FASB) recently required all companies to make certain classifications and disclosures for such "complex" financial instruments. Yet, the Securities and Exchange Commission (SEC) and the FASB now demand even further reporting requirements - including requiring companies to recognize the "fair value" (and resultant gains and losses) of their financial derivatives as well as make other "qualitative disclosures" of the potential risk of holding such financial securities. The provisions of the current and proposed standards will affect significantly virtually all types of companies, especially those using derivative instruments. Hence, those preparing and evaluating financial statements under this emerging set of standards must comprehend these new provisions. The paper first discusses the current standards relating to financial derivatives and other financial instruments; it then provides examples of "leading" disclosures of such financial instruments. Then, based upon the responses to a mail questionnaire, the paper discusses how key groups view potential SEC changes in accounting for derivatives. All four of the groups generally agree with the provisions of SFAS No. 119 and most favor the recently passed, increased reporting standards.

ANALISIS LAPORAN KEUANGAN UNTUK MENILAI KINERJA KEUANGAN PT. ASTRA AGRO LESTARI Tbk

2019 ◽  
Vol 5 (2) ◽  
pp. 75-88
Author(s):  
M. Shobihin ◽  
Sayekti Suindyah Dwiningwarni ◽  
Supriadi Supriadi
Keyword(s):  
Financial Performance ◽  
Good Condition ◽  
Balance Sheet ◽  
Financial Statements ◽  
Ratio Analysis ◽  
Business Decisions ◽  
Financial Ratio ◽  
Financial Ratio Analysis ◽  
Income Statement ◽  
Quantitative Descriptive

The financial statements serve as a benchmark in assessing the financial performance of the company as the basis for making business decisions. The motivation in conducting this research is to support previous research to see the development condition of one of the oil palm plantation companies. The purpose of this study is to assess the financial performance by using financial ratio analysis and horizontal analysis. The method used in this research is Quantitative Descriptive with analysis design using Term series Analysis. The result of the research based on financial ratio analysis shows the liquidity ratio and solvency ratio in good condition, while the activity ratio and profitability ratio are not good because it is below the industry average of similar companies. Based on horizontal analysis, financial performance fluctuated and influenced internal and external factors such as operational performance and the average price of world palm oil. The limitations of this study are using only two analytical tools and financial statements analyzed only the balance sheet and income statement.

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