Data Processing Tasks
Data processing tasks performed include SIA 4 basic tasks as follows:
1. Data collection. Each action is described by a data record. If the action involves environmental elements is called a transaction. Business and accounting principals generally only consider transactions that have financial value.
2. Data manipulation. Data needs to be manipulated to be converted into useful information. Data manipulation operations include the classification, Sorting, calculations, and pengikhtisaran.
3. Data storage. There are a lot of transactions in each company. Each transaction is described by a number of data elements. The data should be stored in one place and must be found easily if the data is needed.
4. Document Preparation. SIA produces the output for individuals or organizations inside and outside the company. Output is triggered in two ways:
By an act of output produced when something happens. As examples of bills prepared in time of order.
The output generated by the schedule at some point.
Generally the output of the document, but more and more users use a visual (display screen) to obtain information in a timely and appropriate, without having to wait for regular reports from the accounting published on schedule. access to information can be done locally or globally by using public facilities.
Based on the above description can be said that the responsibility of collecting, storing and processing data and reporting financial transactions are part of the responsibility of the accounting department. Other parts such as sales, purchasing, finance the operational part of preparing the evidence of transactions, while the IT is part of the supporting facilities include data processing software, including the selection of technology hardware and holds responsibility for the security of data systems.
Accounting computer accounting system is a business transaction with mengautomatisasi implement open management, so that accounting information can be obtained directly through terminals scattered corporate environment. With this facility allows tersediaanya management got the information through visual media available on the monitor diruangannya own without waiting for a report published routine accounting section.
In the accounting manual, all the responsibility of data processing and reporting of both financial and operational reporting is the duty of the accounting department. On the computer accounting reports that are operational can be directly issued by the relevant sections, so the responsibility of the accounting becomes lighter.
Selasa, 15 Desember 2009
Accounting principles
Accounting principles
In "Accounting Prinssip Indonesia", prepared by the Association of Indonesian Accountants accounting purposes mentioned include: (has been updated with the Financial Accounting Standards but the basic principle is the same).
Separate company with the owner and other companies, accounting meant to distinguish assets assets assets and private property owners.
Meet the needs, the resulting accounting information has a clear purpose. Not home made. This causes a company's accounting system is not the same as any other company accounting system, because every company has different needs according to the influence of environment.
Providing financial information quantitatively on a specific company to the user / management can take economic decisions
Provide financial information that can be trusted so that helps the user / management in assessing a company's ability to earn profits.
Provide information on changes in assets and liabilities and other information needed.
• Quality
• Relevant
• Clear and understandable
• Can be tested
• Can be compared
• Complete
• Neutral
In "Accounting Prinssip Indonesia", prepared by the Association of Indonesian Accountants accounting purposes mentioned include: (has been updated with the Financial Accounting Standards but the basic principle is the same).
Separate company with the owner and other companies, accounting meant to distinguish assets assets assets and private property owners.
Meet the needs, the resulting accounting information has a clear purpose. Not home made. This causes a company's accounting system is not the same as any other company accounting system, because every company has different needs according to the influence of environment.
Providing financial information quantitatively on a specific company to the user / management can take economic decisions
Provide financial information that can be trusted so that helps the user / management in assessing a company's ability to earn profits.
Provide information on changes in assets and liabilities and other information needed.
• Quality
• Relevant
• Clear and understandable
• Can be tested
• Can be compared
• Complete
• Neutral
Framework for Accounting Systems
Framework for Accounting Systems
Accounting information system (AIS) is a function that implements financial data processing tasks to the information required for users inside and outside the company. SIA is responsible to provide financial information for each element except the competition environment. In connection with the financial information needs are top-level management needs so AIS only information-oriented service to these top-level management.
Computer accounting systems evolve with the development of information technology and science which required not only financial but also operational (non-financial) and who need information not only top level management but all levels of management. Computer accounting system supports open management, however there are still many organizations that implement a closed management.
• Data Processing Tasks
• Accounting Equation
• Accounting Principles
• Ledger
Main accounting system of classification consists of accounts ledgers, journal and proof transactions. Each of these elements are interconnected to form a recording procedures.
The following is the relationship of each element with other procedures
Systems and procedures Evidence Journal Ledger transactions
1. Sales sales sales invoice accounts receivable, sales
2. Cash Cash Acceptance Evidence Receipts Account receivables, and cash
3. Purchase Purchase Purchase Invoice Accounts Finished goods
4. Accounts Payable Accounts Payable Cash Proof of Debt and Cash Account
5. General Payroll Compliance & Invoice Account fees Salaries & Wages, Pieces, Debt salary
The table above shows that out of every procedure will produce a proof of transaction. Note the journal will be posted to the ledger accounts. The table is simply to show relationships between elements, in its implementation may vary, depending on the method chosen.
Accounting information system (AIS) is a function that implements financial data processing tasks to the information required for users inside and outside the company. SIA is responsible to provide financial information for each element except the competition environment. In connection with the financial information needs are top-level management needs so AIS only information-oriented service to these top-level management.
Computer accounting systems evolve with the development of information technology and science which required not only financial but also operational (non-financial) and who need information not only top level management but all levels of management. Computer accounting system supports open management, however there are still many organizations that implement a closed management.
• Data Processing Tasks
• Accounting Equation
• Accounting Principles
• Ledger
Main accounting system of classification consists of accounts ledgers, journal and proof transactions. Each of these elements are interconnected to form a recording procedures.
The following is the relationship of each element with other procedures
Systems and procedures Evidence Journal Ledger transactions
1. Sales sales sales invoice accounts receivable, sales
2. Cash Cash Acceptance Evidence Receipts Account receivables, and cash
3. Purchase Purchase Purchase Invoice Accounts Finished goods
4. Accounts Payable Accounts Payable Cash Proof of Debt and Cash Account
5. General Payroll Compliance & Invoice Account fees Salaries & Wages, Pieces, Debt salary
The table above shows that out of every procedure will produce a proof of transaction. Note the journal will be posted to the ledger accounts. The table is simply to show relationships between elements, in its implementation may vary, depending on the method chosen.
Accounting system
accounting system is the methods and procedures for recording and reporting financial information provided to the company or a business organization. Accounting system implemented in large companies is very complex. The complexity of the system caused by the specificity of the system designed for a business organization as a result of differences in need for information by the manager, the form and the way financial transaction reports. Accounting system consists of a proof of transaction documents, recording equipment, reports and procedures used by companies to record transactions and report the results. Operating an accounting system includes three stages:
• Must be familiar with the transaction evidence documents are used by companies, both on the number of physical mupun number rupiahnya, as well as other important data related to corporate transactions.
• Must classify and record the data listed in the document into evidence of the transaction accounting records.
• It must summarize the information contained in the accounting records into reports for management and other parties concerned.
System Design
Accounting system should be designed to meet the specifications of the information needed by the company, provided that such information is not too expensive. Thus, the main considerations in designing the accounting system is the balance between benefits and costs incurred to obtain this information.
To be effective, the report presented by the accounting system should be made in a timely, clear and consistent. The report presented to the user's knowledge and needs to be used as a consideration in the decision-making.
Designer (designer) system must have the knowledge to distinguish between accounting systems and good data processing method of processing data manually or by using computerized. The ability to distinguish between transaction processing and computer manually quite important, because in certain business organizations, not all transactions can be processed by computer and the system designer's ability to evaluate alternatives that consider the knowledge of the basic principles of accounting systems. In short, the basic principles contained in a good accounting system is likely designed system at a particular company will have difficulty when applied.
[edit] Implementation System
Implementation of the system is not only a responsibility of the existing personnel in certain parts, but all personnel must be responsible for the operation of the system. Operation of the system must be carefully and always be supervision over the prior operating system completely.
[edit] Ledger Assistant
This book is often called the additional books. Ledger is provided for accounts that require a large book details, such as: accounts receivable, accounts payable and inventory merchandise. From this ledger can be prepared a list of the relevant accounts at any desired date (usually the end of the month or the end of the year).
[edit] Journal Special
As the name implies, a special journal is a special journal used to record the transactions of its kind. Grouping transactions depends on the type of company activities.
Although it has provided specialized journals, the company still needs the general ledger used to record transactions that can not be recorded in special journals, and also for the purposes of making adjustments journals, journal accounts closure and correction. Format and how to use special journals different from the general journal. These changes are intended to work on journals and books from the journal to the ledger can be done more efficiently. Here are some common special journals diguankan:
• Sales Journal is a special journal used to record transactions made on credit. Cash sales are not included in these journals because the sales transactions occur in cash cash receipts, so that cash sales are recorded in cash receipts journal.
• Cash receipts journal is a journal specifically provided for record cash receipt transactions. To save time of recording, the journal is designed with a number of columns and meanyediakan total only recorded every dollar into a big book.
• General Journal is used to record accounting adjustments, closing the books, corrections and other transactions that can not be recorded in special journals.
• Must be familiar with the transaction evidence documents are used by companies, both on the number of physical mupun number rupiahnya, as well as other important data related to corporate transactions.
• Must classify and record the data listed in the document into evidence of the transaction accounting records.
• It must summarize the information contained in the accounting records into reports for management and other parties concerned.
System Design
Accounting system should be designed to meet the specifications of the information needed by the company, provided that such information is not too expensive. Thus, the main considerations in designing the accounting system is the balance between benefits and costs incurred to obtain this information.
To be effective, the report presented by the accounting system should be made in a timely, clear and consistent. The report presented to the user's knowledge and needs to be used as a consideration in the decision-making.
Designer (designer) system must have the knowledge to distinguish between accounting systems and good data processing method of processing data manually or by using computerized. The ability to distinguish between transaction processing and computer manually quite important, because in certain business organizations, not all transactions can be processed by computer and the system designer's ability to evaluate alternatives that consider the knowledge of the basic principles of accounting systems. In short, the basic principles contained in a good accounting system is likely designed system at a particular company will have difficulty when applied.
[edit] Implementation System
Implementation of the system is not only a responsibility of the existing personnel in certain parts, but all personnel must be responsible for the operation of the system. Operation of the system must be carefully and always be supervision over the prior operating system completely.
[edit] Ledger Assistant
This book is often called the additional books. Ledger is provided for accounts that require a large book details, such as: accounts receivable, accounts payable and inventory merchandise. From this ledger can be prepared a list of the relevant accounts at any desired date (usually the end of the month or the end of the year).
[edit] Journal Special
As the name implies, a special journal is a special journal used to record the transactions of its kind. Grouping transactions depends on the type of company activities.
Although it has provided specialized journals, the company still needs the general ledger used to record transactions that can not be recorded in special journals, and also for the purposes of making adjustments journals, journal accounts closure and correction. Format and how to use special journals different from the general journal. These changes are intended to work on journals and books from the journal to the ledger can be done more efficiently. Here are some common special journals diguankan:
• Sales Journal is a special journal used to record transactions made on credit. Cash sales are not included in these journals because the sales transactions occur in cash cash receipts, so that cash sales are recorded in cash receipts journal.
• Cash receipts journal is a journal specifically provided for record cash receipt transactions. To save time of recording, the journal is designed with a number of columns and meanyediakan total only recorded every dollar into a big book.
• General Journal is used to record accounting adjustments, closing the books, corrections and other transactions that can not be recorded in special journals.
Internal control objectives
Internal control objectives is to ensure that corporate management:
• The company's goal set will be achieved.
• The financial statements produced by the company can be trusted.
• the company activities in accordance with the laws and regulations.
Internal controls can prevent the loss or waste of corporate resources processing. Internal controls can provide information about how to assess corporate performance and corporate management as well as providing information that will be used as a guide in planning.
Elements of Internal Control
Committee of Sponsoring Organizations of the Treatway Commission (COSO) introduced the five components of internal control which includes Environmental Control (Control Environment), Risk Assessment (Risk Assessment), Procedure Control (Control Procedures), Monitoring (Monitoring), as well as Information and Communication ( Information and Communication).
Environmental Control (Control Environment)
Environmental control of the company include the attitude of the management and employees on the importance of control in the organization. One of the factors that influence the control environment is the management philosophy (in a single management partnership or joint management within the company) and the operating style of management (management of progressive or conservative), organizational structure (centralized or decentralized too) and kepersonaliaan practice. Environmental control is very important because the basic elements of the effectiveness of internal control others.
Risk Assessment (Risk Assessment)
All organizations have a risk, in any condition that his name must be in the risk of an activity, whether activity related to the business (profit and non-profit) and non-business. A risk that can be identified in the analysis and evaluation in order to predict the intensity and action that can minimize them.
Procedure Control (Control Procedures)
Control procedures established to standardize the work processes in order to ensure the achievement of corporate objectives and to prevent or detect the occurrence of irregularities and errors. Control procedures include the following:
• competent personnel, transfer of duties and mandatory leave.
• Delegation of responsibility.
• Separation of responsibility for related activities.
• The separation of accounting functions, storage and operational assets.
Monitoring (Monitoring)
Monitoring of internal control systems will find deficiencies and improve the effectiveness of control. Internal controls can be monitored well by way of a special assessment or in line with management efforts. The last monitoring efforts can be done by observing the behavior of employees or the warning signs given by the accounting system.
Special assessment is usually done on a regular basis during the main changes in senior management strategy, corporate structure or business activity. In large companies, internal auditors are responsible for monitoring internal control systems. Independent auditors often make an assessment of internal controls as part of the audit of financial statements.
Information and Communication (Information and Communication)
Information and communication elements are important from my company's internal control. Information about the control environment, risk assessment, control and monitoring procedures required by Winnebago management operational guidelines and ensures compliance with reporting laws and regulations that apply to the company.
Information is also needed from outside the company. Management can use this type of information to assess the external standard. Law, events and conditions that affect the decision-making and external reporting.
Library
• International Organization of Supreme Audit Institutions (INTOSAI): Guidelines for internal control standards (1992)
• Committee of Sponsoring Organizations of the Treadway Commission: Internal control - integrated framework (1994)
• Sugiarto, Introduction to Accounting, Open University Publishing Center, Jakarta, 2002.
• The company's goal set will be achieved.
• The financial statements produced by the company can be trusted.
• the company activities in accordance with the laws and regulations.
Internal controls can prevent the loss or waste of corporate resources processing. Internal controls can provide information about how to assess corporate performance and corporate management as well as providing information that will be used as a guide in planning.
Elements of Internal Control
Committee of Sponsoring Organizations of the Treatway Commission (COSO) introduced the five components of internal control which includes Environmental Control (Control Environment), Risk Assessment (Risk Assessment), Procedure Control (Control Procedures), Monitoring (Monitoring), as well as Information and Communication ( Information and Communication).
Environmental Control (Control Environment)
Environmental control of the company include the attitude of the management and employees on the importance of control in the organization. One of the factors that influence the control environment is the management philosophy (in a single management partnership or joint management within the company) and the operating style of management (management of progressive or conservative), organizational structure (centralized or decentralized too) and kepersonaliaan practice. Environmental control is very important because the basic elements of the effectiveness of internal control others.
Risk Assessment (Risk Assessment)
All organizations have a risk, in any condition that his name must be in the risk of an activity, whether activity related to the business (profit and non-profit) and non-business. A risk that can be identified in the analysis and evaluation in order to predict the intensity and action that can minimize them.
Procedure Control (Control Procedures)
Control procedures established to standardize the work processes in order to ensure the achievement of corporate objectives and to prevent or detect the occurrence of irregularities and errors. Control procedures include the following:
• competent personnel, transfer of duties and mandatory leave.
• Delegation of responsibility.
• Separation of responsibility for related activities.
• The separation of accounting functions, storage and operational assets.
Monitoring (Monitoring)
Monitoring of internal control systems will find deficiencies and improve the effectiveness of control. Internal controls can be monitored well by way of a special assessment or in line with management efforts. The last monitoring efforts can be done by observing the behavior of employees or the warning signs given by the accounting system.
Special assessment is usually done on a regular basis during the main changes in senior management strategy, corporate structure or business activity. In large companies, internal auditors are responsible for monitoring internal control systems. Independent auditors often make an assessment of internal controls as part of the audit of financial statements.
Information and Communication (Information and Communication)
Information and communication elements are important from my company's internal control. Information about the control environment, risk assessment, control and monitoring procedures required by Winnebago management operational guidelines and ensures compliance with reporting laws and regulations that apply to the company.
Information is also needed from outside the company. Management can use this type of information to assess the external standard. Law, events and conditions that affect the decision-making and external reporting.
Library
• International Organization of Supreme Audit Institutions (INTOSAI): Guidelines for internal control standards (1992)
• Committee of Sponsoring Organizations of the Treadway Commission: Internal control - integrated framework (1994)
• Sugiarto, Introduction to Accounting, Open University Publishing Center, Jakarta, 2002.
Internal controls
In accounting and organizational theory, internal control or internal control is defined as a process, which is influenced by human resources and information technology systems, which are designed to help organizations achieve a particular goal or objective. Internal control is a way to direct, supervise, and measuring an organization's resources. He played an important role to prevent and detect fraud (fraud) and protect the organization's resources both tangible (such as machinery and land) or not (such as reputation or intellectual property rights such as trademarks).
The existence of an adequate accounting system, making the company accountant to provide financial information for every level of management, the owners or shareholders, creditors and users of financial statements (stakeholders) who form the basis of economic decision making. The system can be used by management to plan and control company operations. For more details, policies and procedures to be used directly intended to achieve goals and guarantee or provide an appropriate financial reports and ensure ditaatinya or compliance with laws and regulations, it is called Internal Control, in other words that consists of internal control policies and procedures used in company operations to provide reliable financial information and ensure compliance with laws and regulations.
At the organizational level, internal control objectives associated with the reliability of financial reporting, feedback on time to the achievement of operational objectives and strategic, and compliance with laws and regulations. At the level of specific transactions, internal control refers to actions undertaken to achieve a particular goal (eg to ensure payment to a third party carried out on a service actually performed). Pengedalian internal procedures and processes to reduce variation in turn provide better results can be expected. Internal control is a key element in the Foreign Corrupt Practices Act (FCPA) in 1977 and the Sarbanes-Oxley Act of 2002 which requires an increase in the internal controls of public companies the United States.
Objectives of internal control
Internal control objectives is to ensure that corporate management:
• The company's goal set will be achieved.
• The financial statements produced by the company can be trusted.
• the company activities in accordance with the laws and regulations.
Internal controls can prevent the loss or waste of corporate resources processing. Internal controls can provide information about how to assess corporate performance and corporate management as well as providing information that will be used as a guide in planning.
Elements of Internal Control
Committee of Sponsoring Organizations of the Treatway Commission (COSO) introduced the five components of internal control which includes Environmental Control (Control Environment), Risk Assessment (Risk Assessment), Procedure Control (Control Procedures), Monitoring (Monitoring), as well as Information and Communication ( Information and Communication).
Environmental Control (Control Environment)
Environmental control of the company include the attitude of the management and employees on the importance of control in the organization. One of the factors that influence the control environment is the management philosophy (in a single management partnership or joint management within the company) and the operating style of management (management of progressive or conservative), organizational structure (centralized or decentralized too) and kepersonaliaan practice. Environmental control is very important because the basic elements of the effectiveness of internal control others.
Risk Assessment (Risk Assessment)
All organizations have a risk, in any condition that his name must be in the risk of an activity, whether activity related to the business (profit and non-profit) and non-business. A risk that can be identified in the analysis and evaluation in order to predict the intensity and action that can minimize them.
[edit] Procedure Control (Control Procedures)
Control procedures established to standardize the work processes in order to ensure the achievement of corporate objectives and to prevent or detect the occurrence of irregularities and errors. Control procedures include the following:
• competent personnel, transfer of duties and mandatory leave.
• Delegation of responsibility.
• Separation of responsibility for related activities.
• The separation of accounting functions, storage and operational assets.
Monitoring (Monitoring)
Monitoring of internal control systems will find deficiencies and improve the effectiveness of control. Internal controls can be monitored well by way of a special assessment or in line with management efforts. The last monitoring efforts can be done by observing the behavior of employees or the warning signs given by the accounting system.
Special assessment is usually done on a regular basis during the main changes in senior management strategy, corporate structure or business activity. In large companies, internal auditors are responsible for monitoring internal control systems. Independent auditors often make an assessment of internal controls as part of the audit of financial statements.
Information and Communication (Information and Communication)
Information and communication elements are important from my company's internal control. Information about the control environment, risk assessment, control and monitoring procedures required by Winnebago management operational guidelines and ensures compliance with reporting laws and regulations that apply to the company.
Information is also needed from outside the company. Management can use this type of information to assess the external standard. Law, events and conditions that affect the decision-making and external reporting.
[edit] References
• International Organization of Supreme Audit Institutions (INTOSAI): Guidelines for internal control standards (1992)
• Committee of Sponsoring Organizations of the Treadway Commission: Internal control - integrated framework (1994)
• Sugiarto, Introduction to Accounting, Open University Publishing Center, Jakarta, 2002.
The existence of an adequate accounting system, making the company accountant to provide financial information for every level of management, the owners or shareholders, creditors and users of financial statements (stakeholders) who form the basis of economic decision making. The system can be used by management to plan and control company operations. For more details, policies and procedures to be used directly intended to achieve goals and guarantee or provide an appropriate financial reports and ensure ditaatinya or compliance with laws and regulations, it is called Internal Control, in other words that consists of internal control policies and procedures used in company operations to provide reliable financial information and ensure compliance with laws and regulations.
At the organizational level, internal control objectives associated with the reliability of financial reporting, feedback on time to the achievement of operational objectives and strategic, and compliance with laws and regulations. At the level of specific transactions, internal control refers to actions undertaken to achieve a particular goal (eg to ensure payment to a third party carried out on a service actually performed). Pengedalian internal procedures and processes to reduce variation in turn provide better results can be expected. Internal control is a key element in the Foreign Corrupt Practices Act (FCPA) in 1977 and the Sarbanes-Oxley Act of 2002 which requires an increase in the internal controls of public companies the United States.
Objectives of internal control
Internal control objectives is to ensure that corporate management:
• The company's goal set will be achieved.
• The financial statements produced by the company can be trusted.
• the company activities in accordance with the laws and regulations.
Internal controls can prevent the loss or waste of corporate resources processing. Internal controls can provide information about how to assess corporate performance and corporate management as well as providing information that will be used as a guide in planning.
Elements of Internal Control
Committee of Sponsoring Organizations of the Treatway Commission (COSO) introduced the five components of internal control which includes Environmental Control (Control Environment), Risk Assessment (Risk Assessment), Procedure Control (Control Procedures), Monitoring (Monitoring), as well as Information and Communication ( Information and Communication).
Environmental Control (Control Environment)
Environmental control of the company include the attitude of the management and employees on the importance of control in the organization. One of the factors that influence the control environment is the management philosophy (in a single management partnership or joint management within the company) and the operating style of management (management of progressive or conservative), organizational structure (centralized or decentralized too) and kepersonaliaan practice. Environmental control is very important because the basic elements of the effectiveness of internal control others.
Risk Assessment (Risk Assessment)
All organizations have a risk, in any condition that his name must be in the risk of an activity, whether activity related to the business (profit and non-profit) and non-business. A risk that can be identified in the analysis and evaluation in order to predict the intensity and action that can minimize them.
[edit] Procedure Control (Control Procedures)
Control procedures established to standardize the work processes in order to ensure the achievement of corporate objectives and to prevent or detect the occurrence of irregularities and errors. Control procedures include the following:
• competent personnel, transfer of duties and mandatory leave.
• Delegation of responsibility.
• Separation of responsibility for related activities.
• The separation of accounting functions, storage and operational assets.
Monitoring (Monitoring)
Monitoring of internal control systems will find deficiencies and improve the effectiveness of control. Internal controls can be monitored well by way of a special assessment or in line with management efforts. The last monitoring efforts can be done by observing the behavior of employees or the warning signs given by the accounting system.
Special assessment is usually done on a regular basis during the main changes in senior management strategy, corporate structure or business activity. In large companies, internal auditors are responsible for monitoring internal control systems. Independent auditors often make an assessment of internal controls as part of the audit of financial statements.
Information and Communication (Information and Communication)
Information and communication elements are important from my company's internal control. Information about the control environment, risk assessment, control and monitoring procedures required by Winnebago management operational guidelines and ensures compliance with reporting laws and regulations that apply to the company.
Information is also needed from outside the company. Management can use this type of information to assess the external standard. Law, events and conditions that affect the decision-making and external reporting.
[edit] References
• International Organization of Supreme Audit Institutions (INTOSAI): Guidelines for internal control standards (1992)
• Committee of Sponsoring Organizations of the Treadway Commission: Internal control - integrated framework (1994)
• Sugiarto, Introduction to Accounting, Open University Publishing Center, Jakarta, 2002.
System Design
Accounting system should be designed to meet the specifications of the information needed by the company, provided that such information is not too expensive. Thus, the main considerations in designing the accounting system is the balance between benefits and costs incurred to obtain this information.
To be effective, the report presented by the accounting system should be made in a timely, clear and consistent. The report presented to the user's knowledge and needs to be used as a consideration in the decision-making.
Designer (designer) system must have the knowledge to distinguish between accounting systems and good data processing method of processing data manually or by using computerized. The ability to distinguish between transaction processing and computer manually quite important, because in certain business organizations, not all transactions can be processed by computer and the system designer's ability to evaluate alternatives that consider the knowledge of the basic principles of accounting systems. In short, the basic principles contained in a good accounting system is likely designed system at a particular company will have difficulty when applied.
[edit] Implementation System
Implementation of the system is not only a responsibility of the existing personnel in certain parts, but all personnel must be responsible for the operation of the system. Operation of the system must be carefully and always be supervision over the prior operating system completely.
[edit] Ledger Assistant
This book is often called the additional books. Ledger is provided for accounts that require a large book details, such as: accounts receivable, accounts payable and inventory merchandise. From this ledger can be prepared a list of the relevant accounts at any desired date (usually the end of the month or the end of the year).
[edit] Journal Special
As the name implies, a special journal is a special journal used to record the transactions of its kind. Grouping transactions depends on the type of company activities.
Although it has provided specialized journals, the company still needs the general ledger used to record transactions that can not be recorded in special journals, and also for the purposes of making adjustments journals, journal accounts closure and correction. Format and how to use special journals different from the general journal. These changes are intended to work on journals and books from the journal to the ledger can be done more efficiently. Here are some common special journals diguankan:
• Sales Journal is a special journal used to record transactions made on credit. Cash sales are not included in these journals because the sales transactions occur in cash cash receipts, so that cash sales are recorded in cash receipts journal.
• Cash receipts journal is a journal specifically provided for record cash receipt transactions. To save time of recording, the journal is designed with a number of columns and meanyediakan total only recorded every dollar into a big book.
• General Journal is used to record accounting adjustments, closing the books, corrections and other transactions that can not be recorded in special journals.
[edit] References
• Joseph Haryono. Accounting Basics. STIE YKPN. Yogyakarta.1997.
• Sugiarto. Introduction to Accounting. Open University Publishing Center. Jakarta. 2002.
To be effective, the report presented by the accounting system should be made in a timely, clear and consistent. The report presented to the user's knowledge and needs to be used as a consideration in the decision-making.
Designer (designer) system must have the knowledge to distinguish between accounting systems and good data processing method of processing data manually or by using computerized. The ability to distinguish between transaction processing and computer manually quite important, because in certain business organizations, not all transactions can be processed by computer and the system designer's ability to evaluate alternatives that consider the knowledge of the basic principles of accounting systems. In short, the basic principles contained in a good accounting system is likely designed system at a particular company will have difficulty when applied.
[edit] Implementation System
Implementation of the system is not only a responsibility of the existing personnel in certain parts, but all personnel must be responsible for the operation of the system. Operation of the system must be carefully and always be supervision over the prior operating system completely.
[edit] Ledger Assistant
This book is often called the additional books. Ledger is provided for accounts that require a large book details, such as: accounts receivable, accounts payable and inventory merchandise. From this ledger can be prepared a list of the relevant accounts at any desired date (usually the end of the month or the end of the year).
[edit] Journal Special
As the name implies, a special journal is a special journal used to record the transactions of its kind. Grouping transactions depends on the type of company activities.
Although it has provided specialized journals, the company still needs the general ledger used to record transactions that can not be recorded in special journals, and also for the purposes of making adjustments journals, journal accounts closure and correction. Format and how to use special journals different from the general journal. These changes are intended to work on journals and books from the journal to the ledger can be done more efficiently. Here are some common special journals diguankan:
• Sales Journal is a special journal used to record transactions made on credit. Cash sales are not included in these journals because the sales transactions occur in cash cash receipts, so that cash sales are recorded in cash receipts journal.
• Cash receipts journal is a journal specifically provided for record cash receipt transactions. To save time of recording, the journal is designed with a number of columns and meanyediakan total only recorded every dollar into a big book.
• General Journal is used to record accounting adjustments, closing the books, corrections and other transactions that can not be recorded in special journals.
[edit] References
• Joseph Haryono. Accounting Basics. STIE YKPN. Yogyakarta.1997.
• Sugiarto. Introduction to Accounting. Open University Publishing Center. Jakarta. 2002.
Minggu, 13 Desember 2009
Internal control objectives
Internal control objectives
Internal control objectives is to ensure that corporate management:
• The company's goal set will be achieved.
• The financial statements produced by the company can be trusted.
• the company activities in accordance with the laws and regulations.
Internal controls can prevent the loss or waste of corporate resources processing. Internal controls can provide information about how to assess corporate performance and corporate management as well as providing information that will be used as a guide in planning.
Elements of Internal Control
Committee of Sponsoring Organizations of the Treatway Commission (COSO) introduced the five components of internal control which includes Environmental Control (Control Environment), Risk Assessment (Risk Assessment), Procedure Control (Control Procedures), Monitoring (Monitoring), as well as Information and Communication ( Information and Communication).
Environmental Control (Control Environment)
Environmental control of the company include the attitude of the management and employees on the importance of control in the organization. One of the factors that influence the control environment is the management philosophy (in a single management partnership or joint management within the company) and the operating style of management (management of progressive or conservative), organizational structure (centralized or decentralized too) and kepersonaliaan practice. Environmental control is very important because the basic elements of the effectiveness of internal control others.
Risk Assessment (Risk Assessment)
All organizations have a risk, in any condition that his name must be in the risk of an activity, whether activity related to the business (profit and non-profit) and non-business. A risk that can be identified in the analysis and evaluation in order to predict the intensity and action that can minimize them.
Procedure Control (Control Procedures)
Control procedures established to standardize the work processes in order to ensure the achievement of corporate objectives and to prevent or detect the occurrence of irregularities and errors. Control procedures include the following:
• competent personnel, transfer of duties and mandatory leave.
• Delegation of responsibility.
• Separation of responsibility for related activities.
• The separation of accounting functions, storage and operational assets.
Monitoring (Monitoring)
Monitoring of internal control systems will find deficiencies and improve the effectiveness of control. Internal controls can be monitored well by way of a special assessment or in line with management efforts. The last monitoring efforts can be done by observing the behavior of employees or the warning signs given by the accounting system.
Special assessment is usually done on a regular basis during the main changes in senior management strategy, corporate structure or business activity. In large companies, internal auditors are responsible for monitoring internal control systems. Independent auditors often make an assessment of internal controls as part of the audit of financial statements.
Information and Communication (Information and Communication)
Information and communication elements are important from my company's internal control. Information about the control environment, risk assessment, control and monitoring procedures required by Winnebago management operational guidelines and ensures compliance with reporting laws and regulations that apply to the company.
Information is also needed from outside the company. Management can use this type of information to assess the external standard. Law, events and conditions that affect the decision-making and external reporting.
Internal control objectives is to ensure that corporate management:
• The company's goal set will be achieved.
• The financial statements produced by the company can be trusted.
• the company activities in accordance with the laws and regulations.
Internal controls can prevent the loss or waste of corporate resources processing. Internal controls can provide information about how to assess corporate performance and corporate management as well as providing information that will be used as a guide in planning.
Elements of Internal Control
Committee of Sponsoring Organizations of the Treatway Commission (COSO) introduced the five components of internal control which includes Environmental Control (Control Environment), Risk Assessment (Risk Assessment), Procedure Control (Control Procedures), Monitoring (Monitoring), as well as Information and Communication ( Information and Communication).
Environmental Control (Control Environment)
Environmental control of the company include the attitude of the management and employees on the importance of control in the organization. One of the factors that influence the control environment is the management philosophy (in a single management partnership or joint management within the company) and the operating style of management (management of progressive or conservative), organizational structure (centralized or decentralized too) and kepersonaliaan practice. Environmental control is very important because the basic elements of the effectiveness of internal control others.
Risk Assessment (Risk Assessment)
All organizations have a risk, in any condition that his name must be in the risk of an activity, whether activity related to the business (profit and non-profit) and non-business. A risk that can be identified in the analysis and evaluation in order to predict the intensity and action that can minimize them.
Procedure Control (Control Procedures)
Control procedures established to standardize the work processes in order to ensure the achievement of corporate objectives and to prevent or detect the occurrence of irregularities and errors. Control procedures include the following:
• competent personnel, transfer of duties and mandatory leave.
• Delegation of responsibility.
• Separation of responsibility for related activities.
• The separation of accounting functions, storage and operational assets.
Monitoring (Monitoring)
Monitoring of internal control systems will find deficiencies and improve the effectiveness of control. Internal controls can be monitored well by way of a special assessment or in line with management efforts. The last monitoring efforts can be done by observing the behavior of employees or the warning signs given by the accounting system.
Special assessment is usually done on a regular basis during the main changes in senior management strategy, corporate structure or business activity. In large companies, internal auditors are responsible for monitoring internal control systems. Independent auditors often make an assessment of internal controls as part of the audit of financial statements.
Information and Communication (Information and Communication)
Information and communication elements are important from my company's internal control. Information about the control environment, risk assessment, control and monitoring procedures required by Winnebago management operational guidelines and ensures compliance with reporting laws and regulations that apply to the company.
Information is also needed from outside the company. Management can use this type of information to assess the external standard. Law, events and conditions that affect the decision-making and external reporting.
Accounting principles
Accounting principles
In the "Indonesian Accounting Principles" drawn up by the Association of Indonesian Accountants accounting purposes mentioned include: (has been updated with the Financial Accounting Standards but the basic principle is the same).
Separate company with the owner and other companies, accounting meant to distinguish assets assets assets and private property owners.
Meet the needs, the resulting accounting information has a clear purpose. Not home made. This causes a company's accounting system is not the same as any other company accounting system, because every company has different needs according to the influence of environment.
Providing financial information quantitatively on a specific company to the user / management can take economic decisions
Provide financial information that can be trusted so that helps the user / management in assessing a company's ability to earn profits.
Provide information on changes in assets and liabilities and other information needed.
• Quality
• Relevant
• Clear and understandable
• Can be tested
• Can be compared
• Complete
• Neutral
In the "Indonesian Accounting Principles" drawn up by the Association of Indonesian Accountants accounting purposes mentioned include: (has been updated with the Financial Accounting Standards but the basic principle is the same).
Separate company with the owner and other companies, accounting meant to distinguish assets assets assets and private property owners.
Meet the needs, the resulting accounting information has a clear purpose. Not home made. This causes a company's accounting system is not the same as any other company accounting system, because every company has different needs according to the influence of environment.
Providing financial information quantitatively on a specific company to the user / management can take economic decisions
Provide financial information that can be trusted so that helps the user / management in assessing a company's ability to earn profits.
Provide information on changes in assets and liabilities and other information needed.
• Quality
• Relevant
• Clear and understandable
• Can be tested
• Can be compared
• Complete
• Neutral
Data Processing Tasks
Data Processing Tasks
Data processing tasks performed include SIA 4 basic tasks as follows:
1. Data collection. Each action is described by a data record. If the action involves environmental elements is called a transaction. Business and accounting principals generally only consider transactions that have financial value.
2. Data manipulation. Data needs to be manipulated to be converted into useful information. Data manipulation operations include the classification, Sorting, calculations, and pengikhtisaran.
3. Data storage. There are a lot of transactions in each company. Each transaction is described by a number of data elements. The data should be stored in one place and must be found easily if the data is needed.
4. Document Preparation. SIA produces the output for individuals or organizations inside and outside the company. Output is triggered in two ways:
By an act of output produced when something happens. As examples of bills prepared in time of order.
The output generated by the schedule at some point.
Generally the output of the document, but more and more users use a visual (display screen) to obtain information in a timely and appropriate, without having to wait for regular reports from the accounting published on schedule. access to information can be done locally or globally by using public facilities.
Based on the above description can be said that the responsibility of collecting, storing and processing data and reporting financial transactions are part of the responsibility of the accounting department. Other parts such as sales, purchasing, finance the operational part of preparing the evidence of transactions, while the IT is part of the supporting facilities include data processing software, including the selection of technology hardware and holds responsibility for the security of data systems.
Accounting computer accounting system is a business transaction with mengautomatisasi implement open management, so that accounting information can be obtained directly through terminals scattered corporate environment. With this facility allows tersediaanya management got the information through visual media available on the monitor diruangannya own without waiting for a report published routine accounting section.
In the accounting manual, all the responsibility of data processing and reporting of both financial and operational reporting is the duty of the accounting department. On the computer accounting reports that are operational can be directly issued by the relevant sections, so the responsibility of the accounting becomes lighter.
Data processing tasks performed include SIA 4 basic tasks as follows:
1. Data collection. Each action is described by a data record. If the action involves environmental elements is called a transaction. Business and accounting principals generally only consider transactions that have financial value.
2. Data manipulation. Data needs to be manipulated to be converted into useful information. Data manipulation operations include the classification, Sorting, calculations, and pengikhtisaran.
3. Data storage. There are a lot of transactions in each company. Each transaction is described by a number of data elements. The data should be stored in one place and must be found easily if the data is needed.
4. Document Preparation. SIA produces the output for individuals or organizations inside and outside the company. Output is triggered in two ways:
By an act of output produced when something happens. As examples of bills prepared in time of order.
The output generated by the schedule at some point.
Generally the output of the document, but more and more users use a visual (display screen) to obtain information in a timely and appropriate, without having to wait for regular reports from the accounting published on schedule. access to information can be done locally or globally by using public facilities.
Based on the above description can be said that the responsibility of collecting, storing and processing data and reporting financial transactions are part of the responsibility of the accounting department. Other parts such as sales, purchasing, finance the operational part of preparing the evidence of transactions, while the IT is part of the supporting facilities include data processing software, including the selection of technology hardware and holds responsibility for the security of data systems.
Accounting computer accounting system is a business transaction with mengautomatisasi implement open management, so that accounting information can be obtained directly through terminals scattered corporate environment. With this facility allows tersediaanya management got the information through visual media available on the monitor diruangannya own without waiting for a report published routine accounting section.
In the accounting manual, all the responsibility of data processing and reporting of both financial and operational reporting is the duty of the accounting department. On the computer accounting reports that are operational can be directly issued by the relevant sections, so the responsibility of the accounting becomes lighter.
Framework for Accounting Systems
Framework for Accounting Systems
Accounting information system (AIS) is a function that implements financial data processing tasks to the information required for users inside and outside the company. SIA is responsible to provide financial information for each element except the competition environment. In connection with the financial information needs are top-level management needs so AIS only information-oriented service to these top-level management.
Computer accounting systems evolve with the development of information technology and science which required not only financial but also operational (non-financial) and who need information not only top level management but all levels of management. Computer accounting system supports open management, however there are still many organizations that implement a closed management.
Main accounting system of classification consists of accounts ledgers, journal and proof transactions. Each of these elements are interconnected to form a recording procedures.
The following is the relationship of each element with other procedures
Systems and procedures Evidence Journal Ledger transactions
1. Sales sales sales invoice accounts receivable, sales
2. Cash Cash Acceptance Evidence Receipts Account receivables, and cash
3. Purchase Purchase Purchase Invoice Accounts Finished goods
4. Accounts Payable Accounts Payable Cash Proof of Debt and Cash Account
5. General Payroll Compliance & Invoice Account fees Salaries & Wages, Pieces, Debt salary
The table above shows that out of every procedure will produce a proof of transaction. Note the journal will be posted to the ledger accounts. The table is simply to show relationships between elements, in its implementation may vary, depending on the method chosen.
Accounting information system (AIS) is a function that implements financial data processing tasks to the information required for users inside and outside the company. SIA is responsible to provide financial information for each element except the competition environment. In connection with the financial information needs are top-level management needs so AIS only information-oriented service to these top-level management.
Computer accounting systems evolve with the development of information technology and science which required not only financial but also operational (non-financial) and who need information not only top level management but all levels of management. Computer accounting system supports open management, however there are still many organizations that implement a closed management.
Main accounting system of classification consists of accounts ledgers, journal and proof transactions. Each of these elements are interconnected to form a recording procedures.
The following is the relationship of each element with other procedures
Systems and procedures Evidence Journal Ledger transactions
1. Sales sales sales invoice accounts receivable, sales
2. Cash Cash Acceptance Evidence Receipts Account receivables, and cash
3. Purchase Purchase Purchase Invoice Accounts Finished goods
4. Accounts Payable Accounts Payable Cash Proof of Debt and Cash Account
5. General Payroll Compliance & Invoice Account fees Salaries & Wages, Pieces, Debt salary
The table above shows that out of every procedure will produce a proof of transaction. Note the journal will be posted to the ledger accounts. The table is simply to show relationships between elements, in its implementation may vary, depending on the method chosen.
System Design
System Design
Accounting system should be designed to meet the specifications of the information needed by the company, provided that such information is not too expensive. Thus, the main considerations in designing the accounting system is the balance between benefits and costs incurred to obtain this information.
To be effective, the report presented by the accounting system should be made in a timely, clear and consistent. The report presented to the user's knowledge and needs to be used as a consideration in the decision-making.
Designer (designer) system must have the knowledge to distinguish between accounting systems and good data processing method of processing data manually or by using computerized. The ability to distinguish between transaction processing and computer manually quite important, because in certain business organizations, not all transactions can be processed by computer and the system designer's ability to evaluate alternatives that consider the knowledge of the basic principles of accounting systems. In short, the basic principles contained in a good accounting system is likely designed system at a particular company will have difficulty when applied.
System Implementation
Implementation of the system is not only a responsibility of the existing personnel in certain parts, but all personnel must be responsible for the operation of the system. Operation of the system must be carefully and always be supervision over the prior operating system completely.
Ledger Assistant
This book is often called the additional books. Ledger is provided for accounts that require a large book details, such as: accounts receivable, accounts payable and inventory merchandise. From this ledger can be prepared a list of the relevant accounts at any desired date (usually the end of the month or the end of the year).
Special Journal
As the name implies, a special journal is a special journal used to record the transactions of its kind. Grouping transactions depends on the type of company activities.
Although it has provided specialized journals, the company still needs the general ledger used to record transactions that can not be recorded in special journals, and also for the purposes of making adjustments journals, journal accounts closure and correction. Format and how to use special journals different from the general journal. These changes are intended to work on journals and books from the journal to the ledger can be done more efficiently. Here are some common special journals diguankan:
• Sales Journal is a special journal used to record transactions made on credit. Cash sales are not included in these journals because the sales transactions occur in cash cash receipts, so that cash sales are recorded in cash receipts journal.
• Cash receipts journal is a journal specifically provided for record cash receipt transactions. To save time of recording, the journal is designed with a number of columns and meanyediakan total only recorded every dollar into a big book.
• General Journal is used to record accounting adjustments, closing the books, corrections and other transactions that can not be recorded in special journals.
Accounting system should be designed to meet the specifications of the information needed by the company, provided that such information is not too expensive. Thus, the main considerations in designing the accounting system is the balance between benefits and costs incurred to obtain this information.
To be effective, the report presented by the accounting system should be made in a timely, clear and consistent. The report presented to the user's knowledge and needs to be used as a consideration in the decision-making.
Designer (designer) system must have the knowledge to distinguish between accounting systems and good data processing method of processing data manually or by using computerized. The ability to distinguish between transaction processing and computer manually quite important, because in certain business organizations, not all transactions can be processed by computer and the system designer's ability to evaluate alternatives that consider the knowledge of the basic principles of accounting systems. In short, the basic principles contained in a good accounting system is likely designed system at a particular company will have difficulty when applied.
System Implementation
Implementation of the system is not only a responsibility of the existing personnel in certain parts, but all personnel must be responsible for the operation of the system. Operation of the system must be carefully and always be supervision over the prior operating system completely.
Ledger Assistant
This book is often called the additional books. Ledger is provided for accounts that require a large book details, such as: accounts receivable, accounts payable and inventory merchandise. From this ledger can be prepared a list of the relevant accounts at any desired date (usually the end of the month or the end of the year).
Special Journal
As the name implies, a special journal is a special journal used to record the transactions of its kind. Grouping transactions depends on the type of company activities.
Although it has provided specialized journals, the company still needs the general ledger used to record transactions that can not be recorded in special journals, and also for the purposes of making adjustments journals, journal accounts closure and correction. Format and how to use special journals different from the general journal. These changes are intended to work on journals and books from the journal to the ledger can be done more efficiently. Here are some common special journals diguankan:
• Sales Journal is a special journal used to record transactions made on credit. Cash sales are not included in these journals because the sales transactions occur in cash cash receipts, so that cash sales are recorded in cash receipts journal.
• Cash receipts journal is a journal specifically provided for record cash receipt transactions. To save time of recording, the journal is designed with a number of columns and meanyediakan total only recorded every dollar into a big book.
• General Journal is used to record accounting adjustments, closing the books, corrections and other transactions that can not be recorded in special journals.
Accounting Field
Accounting Field
With the rapid economic growth and increasing complexity of corporate-driven technological progress, increased government regulation of corporate activity, then the accountant required for specialized expertise in accounting. Specialized field of accounting that, what? Well, let's look at specific areas of the following accounting!
a. Financial Accounting (Financial Accounting)
Financial accounting is also called the General Accounting (General Accounting), the accounting records relating to corporate transactions and the preparation of periodic financial reports are guided by the principles of accounting. Financial statements could be used as an internal and external information company.
b. Accounting Examination (Auditing and Accounting)
Examination of accounting is accounting activities related to internal audit or public accounting. Public accounting examination of the records supporting the financial statements with the stated eligibility and could trust a report.
c. Management Accounting (Management Accounting)
Central point in the management accounting information for the parties in the company. Uses include management accounting, controlling the activities of the company, monitor cash flow, and assess alternatives in decision making. For example in the case of sale pricing, spending, production and investment methods. This accounting process is also the special problems faced by corporate managers from various levels of the organization by using historical data and data interpretation.
d. Cost Accounting (Cost Accounting)
Accounting cost accounting is a field that emphasizes activities on costing and control over costs. Particularly those related to the production costs of goods. In addition, one of the main functions of cost accounting is the collection and analysis of data on costs, whether they are or what will happen to be used by corporate leaders as a means of control over activities that have been conducted and the tools to make future plans.
e. Accounting Taxation (Tax Accounting)
Tax accounting field include preparation of tax notices and considering the tax consequences of the planned business transactions.
f. Budget Accounting (Accounting Budgeting)
Budget accounting is the field of accounting-related financial planning of company activities for a certain period in the future as well as analysis and pengontrolannya.
With the completion of the discussion of the accounting areas earlier, certainly has opened your insight that the development of accounting is also highly influenced by technological advances and the rapid growth of the business world. Where is indirectly demanding quality resources and accounting professionals, do not you? Then the problem will arise again now a new question, namely whether the field of accounting experts that includes professionals, like one who is a doctor, lawyer and notary? The answer is correct! Someone who has expertise in the field of accounting educational background of at least 3 Diploma in Accounting majors. Okay now let's continue the discussion with the accounting profession.
With the rapid economic growth and increasing complexity of corporate-driven technological progress, increased government regulation of corporate activity, then the accountant required for specialized expertise in accounting. Specialized field of accounting that, what? Well, let's look at specific areas of the following accounting!
a. Financial Accounting (Financial Accounting)
Financial accounting is also called the General Accounting (General Accounting), the accounting records relating to corporate transactions and the preparation of periodic financial reports are guided by the principles of accounting. Financial statements could be used as an internal and external information company.
b. Accounting Examination (Auditing and Accounting)
Examination of accounting is accounting activities related to internal audit or public accounting. Public accounting examination of the records supporting the financial statements with the stated eligibility and could trust a report.
c. Management Accounting (Management Accounting)
Central point in the management accounting information for the parties in the company. Uses include management accounting, controlling the activities of the company, monitor cash flow, and assess alternatives in decision making. For example in the case of sale pricing, spending, production and investment methods. This accounting process is also the special problems faced by corporate managers from various levels of the organization by using historical data and data interpretation.
d. Cost Accounting (Cost Accounting)
Accounting cost accounting is a field that emphasizes activities on costing and control over costs. Particularly those related to the production costs of goods. In addition, one of the main functions of cost accounting is the collection and analysis of data on costs, whether they are or what will happen to be used by corporate leaders as a means of control over activities that have been conducted and the tools to make future plans.
e. Accounting Taxation (Tax Accounting)
Tax accounting field include preparation of tax notices and considering the tax consequences of the planned business transactions.
f. Budget Accounting (Accounting Budgeting)
Budget accounting is the field of accounting-related financial planning of company activities for a certain period in the future as well as analysis and pengontrolannya.
With the completion of the discussion of the accounting areas earlier, certainly has opened your insight that the development of accounting is also highly influenced by technological advances and the rapid growth of the business world. Where is indirectly demanding quality resources and accounting professionals, do not you? Then the problem will arise again now a new question, namely whether the field of accounting experts that includes professionals, like one who is a doctor, lawyer and notary? The answer is correct! Someone who has expertise in the field of accounting educational background of at least 3 Diploma in Accounting majors. Okay now let's continue the discussion with the accounting profession.
Kamis, 19 November 2009
Understanding Auditing
Understanding Auditing
Auditing words contain many meanings, ranging from the smallest to the most extensive. When viewed from the most narrow sense, can berartiengechekan auditing or checking the accuracy of the calculation of the physical existence of the accounting records. While the broader sense includes review and assessment of the decisions and performance management within the organization.
Alvin A. Arens
Auditing the activities of collecting and evaluating evidence that information can be quantified, from an economic entity, to determine and report the level of concordance between the information with predetermined criteria
The American Accounting Association
As a systematic process to obtain and evaluate evidence objectively, with regard to asersi (statements) about the actions and economic events, to ensure the level of keseuaian asersi with the criteria, and communicate results to interested users
Sawyer
Sebua Internal Audit is a systematic, objective appraisal by internal auditors for various operations and controls within the organization, to determine whether:
Financial and operating information is accurate and reliable
Corporate risk are identified and minimized
External regulations and internal policies and procedures are good and followed
Criteria for good operation and have been met
Resources have been used efficiently and economically and
Organizational objectives have been achieved.
All this is intended to assist the organization in carrying out their responsibilities effectively
The Institute of Internal Auditors, 1999
Internal Audit is assurance and consulting activities are independent and objective dirancanag to provide added value and further the activities of an organization by helping the organization achieve its objectives. The focus of internal audit activities include the assessment and improvement of the effectiveness of risk management and control of the company. All activities are conducted with the normative approach and regular
Auditing words contain many meanings, ranging from the smallest to the most extensive. When viewed from the most narrow sense, can berartiengechekan auditing or checking the accuracy of the calculation of the physical existence of the accounting records. While the broader sense includes review and assessment of the decisions and performance management within the organization.
Alvin A. Arens
Auditing the activities of collecting and evaluating evidence that information can be quantified, from an economic entity, to determine and report the level of concordance between the information with predetermined criteria
The American Accounting Association
As a systematic process to obtain and evaluate evidence objectively, with regard to asersi (statements) about the actions and economic events, to ensure the level of keseuaian asersi with the criteria, and communicate results to interested users
Sawyer
Sebua Internal Audit is a systematic, objective appraisal by internal auditors for various operations and controls within the organization, to determine whether:
Financial and operating information is accurate and reliable
Corporate risk are identified and minimized
External regulations and internal policies and procedures are good and followed
Criteria for good operation and have been met
Resources have been used efficiently and economically and
Organizational objectives have been achieved.
All this is intended to assist the organization in carrying out their responsibilities effectively
The Institute of Internal Auditors, 1999
Internal Audit is assurance and consulting activities are independent and objective dirancanag to provide added value and further the activities of an organization by helping the organization achieve its objectives. The focus of internal audit activities include the assessment and improvement of the effectiveness of risk management and control of the company. All activities are conducted with the normative approach and regular
CLASSIFICATION OF THREE MAJOR FINANCIAL RATIOS
CLASSIFICATION OF THREE MAJOR FINANCIAL RATIOS
Put simply there are 3 (three) ratio is always used in financial analysis:
Solvency ratio
Profitability Ratios
Activity Ratio
RATIO solvency
Company's ability to meet all short-term liabilities and long on time
Company's ability to meet all financial obligations if the company in liquidasi
Liquidity
The Company's ability to pay short-term obligations in a timely manner
Current Ratio:
(Current assets / current debts) X 100%
Quick Ratio
((Current assets - inventory) / Debt smoothly) X 100%
Solvency ratio
Long Term
((Current Assets + fixed assets) / Total debt) X 100%
Debt to Equity Ratio:
(Own capital / Total debt) x 100%
PROFITABILITY RATIOS
Financial ratios to measure the potential earnings of a company
1. RESULTS OF SALES
2. RESULTS FOR INVESTMENT
3. EARNINGS PER SHARE
RESULTS OF SALES
Profitability ratio of percentage of income meningdikasikan
Disposable income / SALES
RESULTS FOR INVESTMENT
Profitability ratio that measures the performance income earned for every dollar invested
Disposable income / TOTAL OWN CAPITAL
EARNINGS PER SHARE
Measuring the amount of dividends payable to shareholders of the company
NET PROFIT / NUMBER OF SHARES OF ISSUED
ACTIVITY RATIO
Financial ratios to evaluate the use of assets of a company by its management
MEASURING THE EFFICIENCY IN THE USE OF A RESOURCE COMPANY WITH RESPECT TO PROFITABILITY
Shows COMPANIES PROFITS TO GET MORE THAN OTHER COMPANIES IN THE SAME RESOURCES
Inventory turns RATIO
Measures the average number of stock sold and in stock for a year
RATES OF SALES / INVENTORY AVERAGE = (RATES OF SALES / (INVENTORY AT BEGINNING OF YEAR-END OF YEAR)
Put simply there are 3 (three) ratio is always used in financial analysis:
Solvency ratio
Profitability Ratios
Activity Ratio
RATIO solvency
Company's ability to meet all short-term liabilities and long on time
Company's ability to meet all financial obligations if the company in liquidasi
Liquidity
The Company's ability to pay short-term obligations in a timely manner
Current Ratio:
(Current assets / current debts) X 100%
Quick Ratio
((Current assets - inventory) / Debt smoothly) X 100%
Solvency ratio
Long Term
((Current Assets + fixed assets) / Total debt) X 100%
Debt to Equity Ratio:
(Own capital / Total debt) x 100%
PROFITABILITY RATIOS
Financial ratios to measure the potential earnings of a company
1. RESULTS OF SALES
2. RESULTS FOR INVESTMENT
3. EARNINGS PER SHARE
RESULTS OF SALES
Profitability ratio of percentage of income meningdikasikan
Disposable income / SALES
RESULTS FOR INVESTMENT
Profitability ratio that measures the performance income earned for every dollar invested
Disposable income / TOTAL OWN CAPITAL
EARNINGS PER SHARE
Measuring the amount of dividends payable to shareholders of the company
NET PROFIT / NUMBER OF SHARES OF ISSUED
ACTIVITY RATIO
Financial ratios to evaluate the use of assets of a company by its management
MEASURING THE EFFICIENCY IN THE USE OF A RESOURCE COMPANY WITH RESPECT TO PROFITABILITY
Shows COMPANIES PROFITS TO GET MORE THAN OTHER COMPANIES IN THE SAME RESOURCES
Inventory turns RATIO
Measures the average number of stock sold and in stock for a year
RATES OF SALES / INVENTORY AVERAGE = (RATES OF SALES / (INVENTORY AT BEGINNING OF YEAR-END OF YEAR)
RESPONSIBILITY CENTER: CENTER OF INCOME AND EXPENSES
RESPONSIBILITY CENTER: CENTER OF INCOME AND EXPENSES
Responsibility center is an organization that is led by a manager who is responsible for the activity undertaken. In essence, the company is a collection of centers of responsibility, which is represented by a box on the organizational chart. Responsibility centers then form a hierarchy.
The nature of accountability Answer Center
Center appeared to realize the responsibility of one or more purposes (goals). In this case a company's senior management to determine a number of strategies to achieve goals. Center works to implement the responsibility of the strategy. The ideals of the organization have been achieved if each responsibility center has accomplished his goal.
Picture of how the responsibilities of each center are as follows:
Input Output
Goods of resources or services
used,
measured from
costs
Capital
Responsibility center receives input in the form of: raw materials, labor and services. By using capital for working capital, equipment and other assets, the central responsibility of carrying out certain functions, with the ultimate goal to change inputs into outputs.
Relations between Input and Output
Management is responsible for ensuring the optimal relationship between inputs and outputs. Disejumlah responsibility centers, the relationship between inputs and outputs are reciprocal and direct.
For example: in the production department, in the form of input raw materials become part of finished goods.
Control here focused on the use of minimum inputs required to produce the required output according to specifications and quality standards are correct, timely, and in accordance with the amount requested.
Measuring Input and Output
How to measure the input:
Most of the inputs used by the central responsibility can be expressed in physical measures of work-hours, liters of oil, reams of paper, and kwh of electricity.
In the management control system, the units of quantity are then translated into monetary terms; money is the common denominator that allows the value and variety of diverse resources to be combined and combined.
Value for money from a particular input is usually calculated by multiplying the physical quantity at a price per unit (ie, number of hours worked multiplied by hourly rate).
Monetary amount generated from these calculations are referred to as the "cost". Cost is a monetary measure of the amount of resources used by a central responsibility.
Measuring output is not as easy to measure inputs.
Example: income per year is an important measure of the output of an organization oriented to profit, but does not describe the entire organization's performance during the year.
In a non-profit organizations, perhaps there is no benchmark for a quantitative output. There are some that use an estimate or use substitute numbers (surrogate numbers), but know the limitations of the estimate or replacement numbers are.
Efficiency and Effectiveness
The concept of input, output, and the cost can be used to explain the meaning of efficiency and effectiveness, which are two criteria by which the performance of responsibility centers assessed. The second term is almost always used in a comparison and not in an absolute sense.
Efficiency is the ratio of output to input, or the amount of output per unit of input.
A Responsibility Center is more efficient than accountability Answer Center:
1) if the use amount of resources fewer than the Responsibility Center B, but produce the same amount of output, or
2) use of resources but produce the same amount of output is greater.
The first criterion does not require that the output dikuantitatifkan; but is necessary to assess the output and the second is almost the same unit. Assuming that the central responsibility to satisfactorily carry out the work and the size of each job can be compared, then the units with lower inputs (ie, lower cost) is more efficient.
In the second criterion where the input is the same but with different outputs, then the required number of quantitative measures of output; so is a more difficult calculation.
Effectiveness is determined by the relationship between the output produced by a central responsibility of destination.
The greater the output contributed to the goal, the more efektiflah unit. Effectiveness tends expressed in terms of subjective and nonanalitis-like, "Performance Campus A is the best, but campus B has somewhat decreased in recent years.
Efficiency and effectiveness related to each other; each responsibility center should be effective and efficient. in short, a major responsibility will be efficient if done the right thing, and will be effective when doing things right.
Role Profit
The main purpose of profit-oriented company is to obtain a satisfactory profit. Since profit is the difference between income (output size) and cost (input size), then the profit is a measure of efficiency.
Profit is also an important measure of effectiveness. Thus, the profit is used as a measure of efficiency and effectiveness of profit-oriented companies.
Types of Responsibility Center
There are 4 types of responsibility centers, classified according to the nature of input and / or monetary output was measured for control purposes: revenue center, load centers, profit centers and investment centers.
Revenue Center
At the center of income, an output (ie, income) measured monetarily, but there is no formal effort made to connect the input (ie, the burden or cost) with the output. (If the burden associated with income, then the unit will become a profit center).
In general, income is the central unit of marketing / sales that did not have the authority to set the selling price and is not responsible for the cost of goods sold from the goods they are marketed. Actual sales or orders measured against budgets and quotas, and managers are considered responsible for the burden that occurs directly in the unit, but the main measure is income.
Load Center
Load center is the central responsibility of the input measured monetarily, but the output is not.
There are two common types of load centers:
1. Load Center engineering
2. Load Center policy
Two load center is associated with two types of fees:
1. Engineering costs, ie costs which amount properly and adequately be estimated with reasonable reliability. Examples: factory costs for direct labor, direct materials, components, equipment, and necessities.
2. Policy costs (the cost of managed) are not available cost estimation technique. In the center of policy burdens, the costs incurred depending on management assessment of sufficient numbers in certain circumstances.
Burden Center for Engineering
The Center has the characteristics:
1. input-input can be measured in monetary
2. input-input can be measured physically
3. optimum amount of dollars and inputs required to produce one unit of output can be determined.
Load center techniques usually found in manufacturing operations. Warehousing, distribution, shipping by truck, and similar units in the marketing organization biases classified into the load center techniques.
Load Center Technical Chart
Relationship Example
optimal
be determined
Input Output Work Function
(dollars) (physical) Manufacturing
Burden Center for Policy
Load Center policy units include administrative and support (such as accounting, law, industrial relations, public relations, human resources), R & D operations, and almost all activities of the center pemasaran.Output these costs can not be measured monetarily.
In a major policy burden, the difference between budget and actual costs is not a measure of efficiency. This is only a difference between the budgeted input and actual input and does not include the value of output.
Load Center Exhibit Policy
Relationships
not optimal
be determined
Input Output Work Function
(dollars) (physical) research
and
development
Research and development activities usually have a half-tangible results in the form of patents, new products or new processes.
There is no scientific way to determine the optimum scale of research and development budget. Companies simply use a percentage of average income as a basis.
Performance measurement R & D activities, the information through progress reports (progress reports), and became the basis for management to make judgments about the effectiveness of the project.
Revenue Center Exhibit
Input not
related
with output
Input Output Work Function
(dollars only for the (dollar marketing
costs Revenue)
Direct)
There are two types of activities under the marketing center, which control different from one another:
1. Activity logistics / order fulfillment / logistics order
The activities include: transportation to distribution centers, warehousing, shipping and delivery, submission of accounts and activities related to credit and billing functions of accounts receivable.
Responsibility centers that perform these functions are fundamentally similar to the load centers in the plant. To reflect the costs at various volume levels can be controlled through the application of standards and adjust your budget. For example: work documents covering the activities of logistics and billing accounts receivable can be completed quickly and at low cost through the Internet.
2. Marketing activities / search order
The activities include test marketing; formation, training, and supervision of sales personnel (sales force); advertising, and promotion penjualan.Untuk evaluate the effectiveness of marketing activities more difficult. Because it is unknown how exactly the optimal amount to be issued, then the search costs orders can not be measured from the target cost, but based on sales targets.
Profit Center Exhibit
Input not
related
with output
Business Unit Input Output
(dollars (dollars
costs) profit)
Investment Center Exhibit
Input
related
capital
used
Input Output Capital business unit
(dollars are used (dollars
costs) profit)
The following management control system to load centers in general policy.
The characteristics of general control:
- Preparation of Budget
Management made the decision to the central budget burdens separate policy from the load center techniques. Furthermore, management determines whether a proposed operating budget to reflect the cost per unit of execution of tasks efficiently. In essence, the management burden of the central budget to formulate a policy to determine the amount of work to be done.
- Variation Fee
In making budget policy for the load center, the managers tend to agree with the changes associated with changes in the anticipated sales volume. For example, let add labor if sales volume went up, and to reduce the workforce if sales volumes are declining.
- Types of Financial Control
Financial control in the load center is the policy aims to control costs by including the managers to participate in the planning, discuss what steps taken, and what level of effort appropriate to each. So, in the load center policy, financial control became the main thing discussed at the planning stage before the costs occurred.
- Performance Measurement
Load center managers have the primary job policies to achieve output of a number of diinginkan.Membelanjakan "on budget" this is considered satisfactory; amount in excess of the budget is cause for concern, while significantly less than the budget indicates that the planned work was not finished implemented.
In the center of policy burdens, the financial statements is not a tool for evaluating the efficiency of a manager....
Responsibility center is an organization that is led by a manager who is responsible for the activity undertaken. In essence, the company is a collection of centers of responsibility, which is represented by a box on the organizational chart. Responsibility centers then form a hierarchy.
The nature of accountability Answer Center
Center appeared to realize the responsibility of one or more purposes (goals). In this case a company's senior management to determine a number of strategies to achieve goals. Center works to implement the responsibility of the strategy. The ideals of the organization have been achieved if each responsibility center has accomplished his goal.
Picture of how the responsibilities of each center are as follows:
Input Output
Goods of resources or services
used,
measured from
costs
Capital
Responsibility center receives input in the form of: raw materials, labor and services. By using capital for working capital, equipment and other assets, the central responsibility of carrying out certain functions, with the ultimate goal to change inputs into outputs.
Relations between Input and Output
Management is responsible for ensuring the optimal relationship between inputs and outputs. Disejumlah responsibility centers, the relationship between inputs and outputs are reciprocal and direct.
For example: in the production department, in the form of input raw materials become part of finished goods.
Control here focused on the use of minimum inputs required to produce the required output according to specifications and quality standards are correct, timely, and in accordance with the amount requested.
Measuring Input and Output
How to measure the input:
Most of the inputs used by the central responsibility can be expressed in physical measures of work-hours, liters of oil, reams of paper, and kwh of electricity.
In the management control system, the units of quantity are then translated into monetary terms; money is the common denominator that allows the value and variety of diverse resources to be combined and combined.
Value for money from a particular input is usually calculated by multiplying the physical quantity at a price per unit (ie, number of hours worked multiplied by hourly rate).
Monetary amount generated from these calculations are referred to as the "cost". Cost is a monetary measure of the amount of resources used by a central responsibility.
Measuring output is not as easy to measure inputs.
Example: income per year is an important measure of the output of an organization oriented to profit, but does not describe the entire organization's performance during the year.
In a non-profit organizations, perhaps there is no benchmark for a quantitative output. There are some that use an estimate or use substitute numbers (surrogate numbers), but know the limitations of the estimate or replacement numbers are.
Efficiency and Effectiveness
The concept of input, output, and the cost can be used to explain the meaning of efficiency and effectiveness, which are two criteria by which the performance of responsibility centers assessed. The second term is almost always used in a comparison and not in an absolute sense.
Efficiency is the ratio of output to input, or the amount of output per unit of input.
A Responsibility Center is more efficient than accountability Answer Center:
1) if the use amount of resources fewer than the Responsibility Center B, but produce the same amount of output, or
2) use of resources but produce the same amount of output is greater.
The first criterion does not require that the output dikuantitatifkan; but is necessary to assess the output and the second is almost the same unit. Assuming that the central responsibility to satisfactorily carry out the work and the size of each job can be compared, then the units with lower inputs (ie, lower cost) is more efficient.
In the second criterion where the input is the same but with different outputs, then the required number of quantitative measures of output; so is a more difficult calculation.
Effectiveness is determined by the relationship between the output produced by a central responsibility of destination.
The greater the output contributed to the goal, the more efektiflah unit. Effectiveness tends expressed in terms of subjective and nonanalitis-like, "Performance Campus A is the best, but campus B has somewhat decreased in recent years.
Efficiency and effectiveness related to each other; each responsibility center should be effective and efficient. in short, a major responsibility will be efficient if done the right thing, and will be effective when doing things right.
Role Profit
The main purpose of profit-oriented company is to obtain a satisfactory profit. Since profit is the difference between income (output size) and cost (input size), then the profit is a measure of efficiency.
Profit is also an important measure of effectiveness. Thus, the profit is used as a measure of efficiency and effectiveness of profit-oriented companies.
Types of Responsibility Center
There are 4 types of responsibility centers, classified according to the nature of input and / or monetary output was measured for control purposes: revenue center, load centers, profit centers and investment centers.
Revenue Center
At the center of income, an output (ie, income) measured monetarily, but there is no formal effort made to connect the input (ie, the burden or cost) with the output. (If the burden associated with income, then the unit will become a profit center).
In general, income is the central unit of marketing / sales that did not have the authority to set the selling price and is not responsible for the cost of goods sold from the goods they are marketed. Actual sales or orders measured against budgets and quotas, and managers are considered responsible for the burden that occurs directly in the unit, but the main measure is income.
Load Center
Load center is the central responsibility of the input measured monetarily, but the output is not.
There are two common types of load centers:
1. Load Center engineering
2. Load Center policy
Two load center is associated with two types of fees:
1. Engineering costs, ie costs which amount properly and adequately be estimated with reasonable reliability. Examples: factory costs for direct labor, direct materials, components, equipment, and necessities.
2. Policy costs (the cost of managed) are not available cost estimation technique. In the center of policy burdens, the costs incurred depending on management assessment of sufficient numbers in certain circumstances.
Burden Center for Engineering
The Center has the characteristics:
1. input-input can be measured in monetary
2. input-input can be measured physically
3. optimum amount of dollars and inputs required to produce one unit of output can be determined.
Load center techniques usually found in manufacturing operations. Warehousing, distribution, shipping by truck, and similar units in the marketing organization biases classified into the load center techniques.
Load Center Technical Chart
Relationship Example
optimal
be determined
Input Output Work Function
(dollars) (physical) Manufacturing
Burden Center for Policy
Load Center policy units include administrative and support (such as accounting, law, industrial relations, public relations, human resources), R & D operations, and almost all activities of the center pemasaran.Output these costs can not be measured monetarily.
In a major policy burden, the difference between budget and actual costs is not a measure of efficiency. This is only a difference between the budgeted input and actual input and does not include the value of output.
Load Center Exhibit Policy
Relationships
not optimal
be determined
Input Output Work Function
(dollars) (physical) research
and
development
Research and development activities usually have a half-tangible results in the form of patents, new products or new processes.
There is no scientific way to determine the optimum scale of research and development budget. Companies simply use a percentage of average income as a basis.
Performance measurement R & D activities, the information through progress reports (progress reports), and became the basis for management to make judgments about the effectiveness of the project.
Revenue Center Exhibit
Input not
related
with output
Input Output Work Function
(dollars only for the (dollar marketing
costs Revenue)
Direct)
There are two types of activities under the marketing center, which control different from one another:
1. Activity logistics / order fulfillment / logistics order
The activities include: transportation to distribution centers, warehousing, shipping and delivery, submission of accounts and activities related to credit and billing functions of accounts receivable.
Responsibility centers that perform these functions are fundamentally similar to the load centers in the plant. To reflect the costs at various volume levels can be controlled through the application of standards and adjust your budget. For example: work documents covering the activities of logistics and billing accounts receivable can be completed quickly and at low cost through the Internet.
2. Marketing activities / search order
The activities include test marketing; formation, training, and supervision of sales personnel (sales force); advertising, and promotion penjualan.Untuk evaluate the effectiveness of marketing activities more difficult. Because it is unknown how exactly the optimal amount to be issued, then the search costs orders can not be measured from the target cost, but based on sales targets.
Profit Center Exhibit
Input not
related
with output
Business Unit Input Output
(dollars (dollars
costs) profit)
Investment Center Exhibit
Input
related
capital
used
Input Output Capital business unit
(dollars are used (dollars
costs) profit)
The following management control system to load centers in general policy.
The characteristics of general control:
- Preparation of Budget
Management made the decision to the central budget burdens separate policy from the load center techniques. Furthermore, management determines whether a proposed operating budget to reflect the cost per unit of execution of tasks efficiently. In essence, the management burden of the central budget to formulate a policy to determine the amount of work to be done.
- Variation Fee
In making budget policy for the load center, the managers tend to agree with the changes associated with changes in the anticipated sales volume. For example, let add labor if sales volume went up, and to reduce the workforce if sales volumes are declining.
- Types of Financial Control
Financial control in the load center is the policy aims to control costs by including the managers to participate in the planning, discuss what steps taken, and what level of effort appropriate to each. So, in the load center policy, financial control became the main thing discussed at the planning stage before the costs occurred.
- Performance Measurement
Load center managers have the primary job policies to achieve output of a number of diinginkan.Membelanjakan "on budget" this is considered satisfactory; amount in excess of the budget is cause for concern, while significantly less than the budget indicates that the planned work was not finished implemented.
In the center of policy burdens, the financial statements is not a tool for evaluating the efficiency of a manager....
Destination Transaction Analysis
Destination Transaction Analysis
Analysis of the transaction is an early stage that must be done prior to recording. There are three things that must be done in transaction analysis, which identifies: a. Is the transaction a financial transaction. Transactions are classified as financial transactions if the transaction affects the position of assets, debt, and capital.
b. Which accounts are affected, increases or decreases, debited or credited.
c. How much value will be recorded.
Sample analysis of the transaction analysis of purchase invoices of goods, evidence of the transfer slip, proof of cash receipts and disbursements. Purpose transaction analysis is meant to determine which accounts are suitable for didebetkan and / or credited....
Analysis of the transaction is an early stage that must be done prior to recording. There are three things that must be done in transaction analysis, which identifies: a. Is the transaction a financial transaction. Transactions are classified as financial transactions if the transaction affects the position of assets, debt, and capital.
b. Which accounts are affected, increases or decreases, debited or credited.
c. How much value will be recorded.
Sample analysis of the transaction analysis of purchase invoices of goods, evidence of the transfer slip, proof of cash receipts and disbursements. Purpose transaction analysis is meant to determine which accounts are suitable for didebetkan and / or credited....
FOR ECONOMIC ANALYSIS OF DECISION
FOR ECONOMIC ANALYSIS OF DECISION
In production systems, functions and roles to be performed by a manager is to take decisions on matters relating to the alternatives of action that must be implemented by the production process. Several factors present in real conditions tend to increase the degree of difficulty and complexity of decisions to make, sort of:
• Factors of uncertainty about the future conditions, which it often brings difficulty in determining the form of potential and installed production capacity to be realized.
• The need to consider various criteria that must be met, such as quantity, quality, cost and so on.
• The pressures associated with the speed of decision-making time, which is often this will result in inappropriate decisions / thorough and far beyond the expectations exist.
• The conflicts that occur and that arise due to the diversity of opinion or pandangn / opinions of various parties involved in the decision-making process. This sort of thing happens because of differences in background and interests of various parties in seeing the problems to be resolved / decided.
Despite many difficulties and obstacles that must be faced, management can not not have to do studies, anaisis, followed by evaluation and decision making. Any problems encountered and must be solved, must first be analyzed and developed alternatives feasibility, both technically and economically, to then decide the most appropriate.
A draft or proposal of the projects, will be evaluated erdasarkan technical efficiency (physical) and economic efficiency. Technical efficiency is generally formulated as follows:
On the other hand, although economic efficiency is expressed as a ratio of output per input, but in this case is expressed in units of the economic units (money). General formulation as follows:
7.1 CYCLE FLOW OF MONEY (CASH FLOW) IN THE PRODUCTION PROCESS
The production process is always described as a process of metamorphosis (transformation) of the raw materials into finished products. From the flow of money, production systems must be able to convert the funds invested in the form of Long Term Assets atupuun working capital into finished products or services that can satisfy the demands (fever) there. The smooth production process, which is measured by effectiveness, efficiency and productivity of work, cycles will be able to facilitate the flow velocity of money (cash flow) that exists. Surely here is not only an efficient depends only production but also be determined by the smoothness of the process of marketing or product sales output.
Once the output sold, it happened once again the process of transformation of products / services into "cash" (cash) in the form of receipt or payment (revenue), which then flows back to a range of needs such as the following inivestasi for depreciation or the need to add capacity production (expansion) and operating costs. If there are remaining revenue, after deducting the total production costs (Fixed Costs + Variable Costs), then this would be an advantage (profit) company which in this case would be allocated for tax and divedends (profits distributed to owners of separation company).
7.2 CLASSIFICATION AND PRODUCTION COST STRUCTURE
In order to carry out the analysis and evaluation of alternatives related to the projects (products, services, processes or work facilities), it would require the ability to be able to identify the type and cost of existing types. To clarify the costs that must be spent in production activities, the following describes some types of common costs:
• Initial and Operating Costs. Start-up costs (first cost) is that expenses must be incurred prior to the beginning of the production activities carried out. These costs will usually be used to purchase machinery (production facility), installations, buildings and so on. This start-up costs tend to be large and have a strategic value that includes the long-term time dimension (long term). To get back the invested capital (investment), then it can be done through the cost of depreciation (Depreciation cost) whose magnitude will depend on the depreciation calculation method applied. Cost of origin issued only once for each of assets invested. Further costs are routinely incurred hahrus / periodic be classified in the form of operational and maintenance costs (operating and maintenance costs).
• Cost Direct and Indirect Costs. Direct costs (direct costs) are costs that can be directly identified with a particular production process or product output (production output) is produced. For example here includes the costs of direct materials, components, direct labor, and so on. Here, the cost will be calculated in detail for each unit of output produced products. The same thing as energy, supplies, utilities and other overheads cost items that can be linked directly with the department or a particular facility.
Whereas indirect costs (indirect costs) in this case can not be identified with a particular product or process. Cost for lighting, air conditioning, telephone, indirect materials / labor and so in this case could not be calculated detaol for each unit of output produced.
• Fixed Costs and Costs Not Fixed. In many cases the decision-making with respect to cost as one benchmark, often the decision will be based on production volume that must be fulfilled within a certain period. In connection with this analysis needs to known and identified the so-called fixed costs (fixed cost) and cost is not fixed (variable cost).
Costs associated with the operation of fasililtas-production facilities within a specific period in which the costs are relatively fixed / constant for the production activity took place and no matter the amount or volume of production the resulting known as fixed costs or fixed costs. For example the cost of depreciation, taxes, insurance, mortgage interest, rent buildings / equipment, indirect costs or overhead costs.
Further direct costs such as direct material cost, direct labor cost and the cost of packing (packaging) of this magnitude will tend to "stay" perunit output. These costs generally referred to as "unit variable cost"; where the total cost is total variable cost will depend on the amount or vary with the amount / volume of production.
Total Cost = Total Fixed Cost + Total Variable Cost
(TC) (TFC) (TVC)
When the cost of production or manufacturing cost (manufacturing cost) per unit of product to be known, then this can be obtained by the following formula:
Production Cost per unit Total Cost of Production
(USD / unit) Amount / produced by Production Volume
7.3 DEPRECIATION OF AN ECONOMIC ASSET VALUE (Depreciation)
Definitively, depreciation / depreciation can be expressed as berkutangnya value (value) of a "physical assets" such as machinery, production equipment, factory buildings, and other elements with increasing use of these assets. In the case in shrinkage can be classified in the form:
• Physical Depreciation (physical Depreciation)
• Depreciation of work function (functional Depreciation)
• Depreciation of the economic value / accounting (accounting Depreciation)
Depreciation is defined as a reduction in physical shape, size or physical dimensions of asset due to usage. A simple example of this can be seen on the wear occurs on the bearing (bearing) which arise as a result of friction, thinning thick boiler tubes due to corrosion, and so on. Penyusustan work function is defined as a reduction in work function and usefulness of an asset, which in this case was not caused by a decrease in physical ability, but because of changes in demand / needs (demand) that is technically and economically feasible asset is no longer applied. For example, a decrease of new technology that caused peralatanproduksi or automatically operated equipment which will cause long been a no longer economical to operate. While accounting penyusustan will analyze the reduced value of the dollar value measure (USD).
Depreciation or depreciation size will depend on the method applied menyusutan. With the selected method, the depreciation cost of adjustable constant per year or greater are made in the first years and continued to decline (small) in the following years. Main reason of depreciation for the year was made earlier are as follows
• Providing protection against the risk of an asset usangnya rapid innovation due to the fast growing technology.
• Depreciation large ditahun early withdrawal will accelerate all the costs incurred for such investments as the asset is still in its peak performance, in addition to the tax-relief to be paid.
To determine the amount of depreciation costs, there are 4 (four) common method was applied, namely:
• straight-line depreciation method (straight line Depreciation method)
• the number of digits method of depreciation (sum of the year digits Depreciation method)
• declining balance depreciation method (declining balance method Depreciation)
• reduced funding depreciation method (Depreciation sinking fund method)
Before the calculation of depreciation costs must first be obtained data relating to:
• initial costs (cost + installation cost) of assets (P)
• Estimated value of assets sold on tahunke-N or commonly known as "salvage value" (S)
• Age indicates the length of productive assets is to be operated economically (N)
7.3.1 STRAIGHT-LINE DEPRECIATION METHOD (STRAIGHT LINE METHOD Depreciation)
This method provides the possibility to shrink the value of an asset at a constant rate of depreciation during the period took place. Depreciation costing formulation can be stated as follows:
P = initial cost (USD)
S = Salvage value (USD)
N = Period of depreciation
Example:
Initial value of an asset is Rp 40.000.000, - and setimasi its salvage value Rp 10.000.000, -. Depreciation period for 5 years, the cost of depreciation each year is:
= 1 / 5 (Rp 40.000.000, - - Rp 10.000.000, -)
= Rp 6.000.000, --
Year Cost Depreciation
Book Value per year on
end
0
1
2
3
4
5 --
6,000,000
6,000,000
6,000,000
6,000,000
6,000,000 USD 40,000,000
USD 34,000,000
USD 28,000,000
USD 22,000,000
USD 16,000,000
Rp 10.000.000
7.3.2 ASSET DEPRECIATION METHOD METHOD WITH SUM OF YEAR Digits
This method will calculate the cost of depreciation (depreciation) in a given year bebrdasarkan digit ratio that year with the number of digit years (sum of year digits) where applicable depreciation period. SOYD method will provide the possibility of the value of an asset will continue to decrease in the rate of certain reductions. The amount of depreciation can be calculated based on the formulation as follows:
Year Cost Depreciation
Book Value per year on
end
0
1
2
3
4
5 --
10,000,000
8,000,000
6,000,000
4,000,000
2.000.000 Rp 40,000,000
IDR 30,000,000
USD 22,000,000
USD 16,000,000
USD 12,000,000
Rp 10.000.000
7.3.3 BALANCE DEPRECIATION METHOD DECREASING (Declining Depreciation BALANCE METHOD)
This method will result in depreciation costs in large numbers in the early years and then rapidly in the period according to the following year. The amount of depreciation in this case is calculated based on the percentage teretentu / face-to book value of assets in the year prior to the desired depreciation. The formula calculating the annual depreciation charge in this case stated sepereti follows:
where:% R = the desired percentage of depreciation per year
BVn-1 = book value in year n-1 (n = 1, 2, ..., N)
Year Cost Depreciation
Book Value per year on
end
0
1
2
3
4
5 --
0.25 x 40,000,000 = 10,000,000
0.25 x 30,000,000 = 7,500,000
0.25 x 22,500,000 = 5,625,000
0.25 x 16,875,000 = 4,218,000
(12,656,250 -10,000,000) = 2,656,000 IDR 40,000,000
IDR 30,000,000
USD 22,500,000
USD 16,875,000
USD 12,656,000
Rp 10.000.000
Note:
In the case above% R = 25% per year. Depreciation costs for the period to 5 in this case does not follow the formula / method defined, because in this case bound to estimate the value of salvage value of Rp 10.000.000, -.
In this method, the determination of shrinkage percentage (% R) is based on setimasi will cause incompatibility with the depreciation of the asset salvage value at the end of the period of depreciation. To be precise, the determination of% R in this case can be determined according to the following formulation:
it is thus in the case above, R-dilai% would be:
= 24.22%
7.3.4 DEPRECIATION FUND DECREASED METHOD (METHOD Depreciation Sinking Fund)
In this method the value of an asset will be reduced by the continued depreciation rate increase. This Dalammetode of interest (interest) the bank will take into account the consequences of the changes ebagai money value in accordance with the function of time (Time Value of Money). Based on this method, the annual depreciation is the sum total of the amount invested in asset values in the "sinking fund" at the end of the year from the amount of interest earned during the year. The formula for this method are as follows:
As an example of the above questions, then:
= USD 4,031,400
With regard to the interest rate (i = 20%), the annual depreciation is:
AD1 = Rp 4,031,400, --
AD2 = Rp 4,031,400, - + 20% x Rp 4,031,400, --
= Rp 4,837,600, --
Year Cost Depreciation
Book Value per year on
end
0
1
2
3
4
5 --
4,031,400
4,834,600
5,805,200
6,966,300
8,359,000 USD 40,000,000
USD 35,968,600
USD 31,131,000
USD 25,325,800
USD 18,359,500
Rp 10.000.000
7.4 ANALYSIS OF POINT HOME (BREAK EVEN ANALISYS)
Titk home Anilisa principal is a general economic analysis applied in the decision-making process. In analyzing the point home crow, have to overlook things like the following:
• Condition of the future related to changes in the level of certainty needs (assumed to be constant fever)
• Value for money will not change over the period of time running (Time value of Money)
To perform the calculation analysis, then it can be seen from the following relationships are:
Fortunately (profit) or loss (loss) (Z) = Total Revenue (TC) - Total Cost (TC)
When the Z value is positive, the favorable conditions that will be found. Conversely if Z value is negative, then the losses incurred. Thus begins this relationship can be further analysis as follows:
[Total Revenue] = [Total Cost]
(TR) (TC)
Selling price per Number of output Variable Cost Total Cost Total Output
Home production product unit remains (TFC) per unit of production output return
(P) principal (NBEP) (V) principal (NBEP)
With slight modifications the above formula can be made as follows:
NBEP =
Number of output Total Fixed Costs
production of the selling price per home - Variable Cost
main (NBEP) product units per unit of product
The difference between the P - V is called by the term "contribution per unit of output". From this analysis found the assumptions and limitations are as follows:
• The selling price per unit of product (unit price) or P will always be constant, regardless of the number of units of output that can be sold. In real conditions, the unit price will depend on the law of supply existing demand.
• variable cost per unit of output (V) is also considered constant. No matter how much the amount of output sold, here is not known a discounted price (discount price).
• Assumption P and V values are constantly providing new assumption that all costs associated with the (cost) or revenue (cost) would be linear).
• Analysts can only be applied to analyze the production facility that produces products for a single service (single output).
Next we will discuss the production activities that have been implemented in a manufacturing industry with the knowledge of the following data:
• Total fixed costs TFC = Rp 90.000.000 -/tahun
• The total variable cost TVC = USD 192,000,000, -/tahun
• The number of products manufactured / sold was for 12,000 units / year
• Total revenue from the sale of 12,000 units of these products is the TR = Rp 240,000,000, --
So the profit or loss will be obtained is:
Z = TR - (TFC + TVC)
Z = USD 240.000.000/th - (USD 9.000.000/th + USD 192.000.000/th)
= - Rp 42,000,000, -/th
Since Z is negative (-), then clearly state that there is a loss.
a) Pressing / lower Total Fixed Costs (TFC)
Step down the amount TFC prices can be done with the road:
• Reduce costs penyusustan (depreciation) is by using a specific depreciation method or enlarge the period of depreciation.
• Pressing the costs of promotion, advertising or other expanses sales.
• Implement cost savings, other overhead costs such as indirect costs, etc..
To find out how much the maximum total fixed costs in order to provide conditions of possibility of profit analysis can be done with BE. As we all know the terms achieved break even condition is biia Z = 0, so that TR = TC or TFC + TVC. In other words, the relationship can be obtained:
TFC = TR - TVC
TFC = USD 240,000,000, -/th - USD 192,000,000, -/th
TFC = USD 48,000,000, -/th
From the calculation results can be concluded that if the production process and the benefits desired in other words is assumed to remain the same, then the total fixed cost (TFC) should be suppressed less than USD 48,000,000.
b) Pressing / Lower Variable Cost per unit of output or unit cost variable (V)
Step down unit cost variable (V) can be implemented by:
• Implement improvements to the working procedures of standards or other working systems so that production processes can be implemented more effectively and more efficiently.
• Selecting materials that are cheaper, and easier / faster to produce, raise the technological level of production process by selecting a machine or production facilities are more productive options that can reduce the cost of direct labor (direct labor cost), energy saving and so on .
To find out how many units the maximum cost variables that can be tolerated so that the production process can be profitable, then the same way can be evaluated through the analysis of the calculation as follows:
Of the existing problems and obtained information that:
Unit Variable Cost = Total Variable Cost (TVC)
Volume products produced
V = USD 192.000.000/th = USD 16.000/unit
12,000,000 units / year
Clearly, in order to obtain an advantage in this case the unit variable cost (V) must be emphasized less than Rp 16.000, -. From the analysis, where the terms Z = 0 must be fulfilled, obtained the following relationship:
TR = TC
TR = TFC + TVC = TFC + ON
V = Rp 12.500, -/unit Yr
c) Raise the Price perunit or Unit Cost Items Price (P)
Although measures to raise the selling price is not an easy alternative to implement, but nevertheless it remains a pikihan can be taken by management in order to prevent themselves from losses. Based on the information data, obtained that:
Total Revenue (TR) = USD $ 240,000,000, -/tahun
where TR = P x N
Price = Total Revenue (TR)
Volume Sold Items (N)
P = Rp 240,000,000, -/tahun = Rp 20.000, -/unit Yr
12.000/unit/tahun
Obviously with P = Rp 20,000, will cause losses -/unit Yr because here TR
Z = 0; TR = TC or
P.N = TFC + NV
P = TFC + V
N
P = Rp 90.000.000 -/th + Rp 16.000, -/unit Yr
12,000 units / year
P = Rp 23.500, -/unit Yr
d) Increasing Number or Volume Unit Output (N) who made / sold
This step enables management to increase the amount of production output as much as possible (in accordance with the capacity terpasangnya) without worrying about these things can affect the total fixed cost (TFC). The greater the volume of production is produced, then the contribution of fixed cost per unit of output will be smaller. This course will be able to push the total to calculate the end. Back again to the concept of BE analysis stated in the previous pages, the basic formulation obtained as follows:
Number of output Total Fixed Costs
production of the selling price per home - Variable Cost
main (NBEP) product units per unit of product
NBEP =
From the results of calculations can be concluded that if you want to make profit, the amount / volume of product to be made should be increased more for 22,500 units / year. When N = 22,500 units / year this will lead only to reach break-even condition.
7.5. ENGINEERING ECONOMIC ANALYSIS (ENGINEERING ECONOMY ANALISYS)
Many projects engineering (engineering) that in reality there are often faced with alternative choices such as design, procedures, methods, and so on. Economic aspect has to do with the investment (fixed cost) is required, operational costs should be dikelarkan, overhead cost and others. Economic analysis techniques (engineering economy analisys) in this case will compare the differences of alternatives in this engineering project economic value of dinyatakandalam amount of money (cost). The best alternative would provide the smallest cost (economical).
7.5.1 PROCEDURE FOR EVALUATION & DETERMINATION PROJECT ALTERNATIVE TECHNIQUE AND problem
In evaluating the technical projects (engineering project) in order to determine the best alternative to be proposed, then the following procedure can be taken:
a) These alternatives should be clearly formulated before compared to one another. Here, each alternative must be equal or equivalent; in the sense that no significant in terms of functionality / usability, technical specifications and so on. Evaluation and determination of alternatives can only be done at least there are 2 (two) possibilities that might be proposed.
b) Any decision taken must also membari consideration to the consequences or impact that will happen later.
c) Further evaluation and / or decisions taken should be reviewed to satisfy the interests of whom? Is the interest of the project owners or the public / consumers generally? Analysis of BCR (Benefit Cost Ratio) is one way to assess this.
d) For each analysis and economic decisions are taken, then the money - as an economic unit the unit will be applied as the main benchmark. Here the differences are expressed in units appropriate physical units, and units of physical force is converted in units of the applicable unit of currency (USD or $).
e) There should be criteria in making decisions clearly. The main criteria for selection of the best alternative in this case lies in the alternative capable of using all available resources effectively and efficiently.
Problem evaluation and alternative selection of engineering projects, many of us have encountered in the form:
• Alternatives for the plant site selection
• Alternatives for the election of power generation (diesel power, hydropower, power plant, nuclear plants, etc.) and its procurement policies.
• And others.
7.5.2 THE CONCEPT OF INTEREST LOANS (INTEREST)
Term rates may be interpreted as rental value of borrowing some money for a certain time. Also of interest is defined as the rate of return (rate of return) of the amount of money invested. Some money comes from their own or borrowed (individual stocks, banks or other financial institutions), then the owner of the money would usually expect a "compensation" to the conditions in which the owner will not be able to use the money within a certain time period. In the cost analysis, this compensation will be calculated as one element of cost (cost), where the size of interest (interest) will be influenced by factors such as:
• Risks not return the money invested / borrowed for a variety of things such as losses, inflation and so on.
• The influence of the law of demand and supply (supply-demand) is associated with the funds for loans.
• overhead costs that must be paid for keeping clection book fees, and other administrative costs as well besides the length of the loan period.
• The rules are created / set by the government related to a specified amount of interest. For example in Indonesia, much interest will langnsung controlled by Bank Indonesia.
7.5.3 TYPE-TYPES OF INTEREST AND METHOD application
Interest rates are always expressed per year, unless there is another provision, when it states:
i = 18% / year
i = 1.8% / month
i = 4.5% / tri wulan
i = 9% / ½ years
So the statement above would have the same understanding. In a simple interest when considered as a sum of money received as a result of capital investment, then this will be interpreted as a gain (profit). Conversely, when interest is expressed as a sum of money received as rental payments (rental fee) from the loan money, then it could be interpreted as cost (cost).
7.5.4 CHANGES IN THE VALUE OF MONEY BECAUSE OF TIME AND DO THE INTEREST RATE
As already explained earlier that the money will have a specific interest rate when implanted in a specific time period. The relationship between interest and this time will bring us to the concept of change in the value of money within a specific time (Time Value of Money). Here the value of money will change according to the function of the time, because when the amount of money borrowed for a certain period, then the amount of money must be paid back next akanlebih than the number who had borrowed it. Difference value of the money paid back and the value of the borrowed money is what we call the interest or interests. In conditions where the interest rate (i)> 0, this will mean the value of money at different times will not be the same.
7.5.5 TYPE-TYPES OF INTEREST AND METHOD application
The amount of interest that must be paid in principle, will depend on 3 things:
• The length of time / rental period (n)
• The amount of fixed interest rate (i%)
• The method is applied to the determination of interest include the simple interest method (single interest) and methods are combined interest (compound interest).
In the single method of interest, the amount of interest here would be proportionately paid to the method of the loan period (n) multiplied by the amount of money borrowed. Simply put it can also be formulated as follows:
I = P.n.i
where P = amount of money saved / invested
i = interest rate (%)
n = period of time the loan during the applicable interest
7.5.6 INFLUENCE OF THE TIME VALUE OF MONEY, INTEREST (INTEREST) and their application ECONOMIC ANALYSIS IN ENGINEERING
Related to the change of the time value of money or interest factors, it is in some way a relationship can be found at the dollar value of past, present or the future by looking at the prevailing interest rates. Symbols / The following notation is then used in solve problems of economic analysis techniques:
i = rate / interest rate per period interest rate applicable (interest rete).
n = period interest rate determined in a certain period if not specifically stated the interest period is generally considered per year.
P = principal amount of money whose value is calculated / dielivalensikan in the future (Present Worth)
F = The amount of money whose value is calculated principal / dielivalensikan in the future (Future Worth) at the end of the period of interest (n). The amount of the value of F is the principal (P) plus the accumulated interest during the rental period.
A = Number of n single payment equal pay row (Uniform Series) done at each end of the period of interest tahnan (Annual Payment or annuity)
Furthermore, to analyze the relationship between P, F and A are expressed in the variables n and i% can be searched by specific formulations which will be explained the application.
a. SINGLE PAYMENT (SINGLE PAYMENT)
Analysis of the calculation here to find out the relationship between P and F value or otherwise set forth in accordance with the variables n and i%. Here the relationship is known formulation as follows:
1) a single payment of multiple factors (Single Payment Compound Amount Factor)
Used to find the price of M where the value of P, n and i% unknown. The formula used is:
F = P (F / P, i%, n) or
F = P (1 + i) n
2) Present Value Factor from Single Payment (Single Payment Present Worth Factor)
Present value factor (Present Worth Factor) is used to find the value of principal (P) where F, n, and i% unknown. Formulation can be written:
P = F (P / F, i%, n) or
P = F
b. PAYMENT IN THE SAME AMOUNT AS Series (respectively) AT EACH END OF YEAR PAYMENT OR ACCEPTANCE (UNIFORM SERIES ANNUAL END OF YEAR PAYMENTS RECEIPT OR)
Calculation analysis was applied here to find out the relationship between an A, C and F are expressed in accordance with the variables n and i%. There are four types of relationships formulations respectively can be explained as follows:
1) factor funds saved / paid in equal numbers in series (The Uniform Series Sinking Fund Factor)
Uniform series used to search for a price when the value of F, n and i% is known, where the formulation can be written as follows:
or A = F (A / F, i%, n)
2) Factors funds / capital absorbed back in the same amount respectively (Uniform Series Capital Recovery Factor)
This method is used to understand the how the money should be withdrawn in the same amount respectively (A) with interest i% during the period is n to fund a number of P that has been invested. Formulation is shown as follows:
Or
, Or A = P [A / P, i%, n]
3) Factor of funds collected from the same payments in a row (Uniform Series Compound Factor)
Used to find out how much money is collected (F) at the end of n-year period for interest payments seriap in the same amount respectively with i% interest rate. Formulation can be explained as follows:
F = A (F / A, i%, n)
4) The value of money now from the same payments in a row (Uniform Series Present Worth Factor)
In production systems, functions and roles to be performed by a manager is to take decisions on matters relating to the alternatives of action that must be implemented by the production process. Several factors present in real conditions tend to increase the degree of difficulty and complexity of decisions to make, sort of:
• Factors of uncertainty about the future conditions, which it often brings difficulty in determining the form of potential and installed production capacity to be realized.
• The need to consider various criteria that must be met, such as quantity, quality, cost and so on.
• The pressures associated with the speed of decision-making time, which is often this will result in inappropriate decisions / thorough and far beyond the expectations exist.
• The conflicts that occur and that arise due to the diversity of opinion or pandangn / opinions of various parties involved in the decision-making process. This sort of thing happens because of differences in background and interests of various parties in seeing the problems to be resolved / decided.
Despite many difficulties and obstacles that must be faced, management can not not have to do studies, anaisis, followed by evaluation and decision making. Any problems encountered and must be solved, must first be analyzed and developed alternatives feasibility, both technically and economically, to then decide the most appropriate.
A draft or proposal of the projects, will be evaluated erdasarkan technical efficiency (physical) and economic efficiency. Technical efficiency is generally formulated as follows:
On the other hand, although economic efficiency is expressed as a ratio of output per input, but in this case is expressed in units of the economic units (money). General formulation as follows:
7.1 CYCLE FLOW OF MONEY (CASH FLOW) IN THE PRODUCTION PROCESS
The production process is always described as a process of metamorphosis (transformation) of the raw materials into finished products. From the flow of money, production systems must be able to convert the funds invested in the form of Long Term Assets atupuun working capital into finished products or services that can satisfy the demands (fever) there. The smooth production process, which is measured by effectiveness, efficiency and productivity of work, cycles will be able to facilitate the flow velocity of money (cash flow) that exists. Surely here is not only an efficient depends only production but also be determined by the smoothness of the process of marketing or product sales output.
Once the output sold, it happened once again the process of transformation of products / services into "cash" (cash) in the form of receipt or payment (revenue), which then flows back to a range of needs such as the following inivestasi for depreciation or the need to add capacity production (expansion) and operating costs. If there are remaining revenue, after deducting the total production costs (Fixed Costs + Variable Costs), then this would be an advantage (profit) company which in this case would be allocated for tax and divedends (profits distributed to owners of separation company).
7.2 CLASSIFICATION AND PRODUCTION COST STRUCTURE
In order to carry out the analysis and evaluation of alternatives related to the projects (products, services, processes or work facilities), it would require the ability to be able to identify the type and cost of existing types. To clarify the costs that must be spent in production activities, the following describes some types of common costs:
• Initial and Operating Costs. Start-up costs (first cost) is that expenses must be incurred prior to the beginning of the production activities carried out. These costs will usually be used to purchase machinery (production facility), installations, buildings and so on. This start-up costs tend to be large and have a strategic value that includes the long-term time dimension (long term). To get back the invested capital (investment), then it can be done through the cost of depreciation (Depreciation cost) whose magnitude will depend on the depreciation calculation method applied. Cost of origin issued only once for each of assets invested. Further costs are routinely incurred hahrus / periodic be classified in the form of operational and maintenance costs (operating and maintenance costs).
• Cost Direct and Indirect Costs. Direct costs (direct costs) are costs that can be directly identified with a particular production process or product output (production output) is produced. For example here includes the costs of direct materials, components, direct labor, and so on. Here, the cost will be calculated in detail for each unit of output produced products. The same thing as energy, supplies, utilities and other overheads cost items that can be linked directly with the department or a particular facility.
Whereas indirect costs (indirect costs) in this case can not be identified with a particular product or process. Cost for lighting, air conditioning, telephone, indirect materials / labor and so in this case could not be calculated detaol for each unit of output produced.
• Fixed Costs and Costs Not Fixed. In many cases the decision-making with respect to cost as one benchmark, often the decision will be based on production volume that must be fulfilled within a certain period. In connection with this analysis needs to known and identified the so-called fixed costs (fixed cost) and cost is not fixed (variable cost).
Costs associated with the operation of fasililtas-production facilities within a specific period in which the costs are relatively fixed / constant for the production activity took place and no matter the amount or volume of production the resulting known as fixed costs or fixed costs. For example the cost of depreciation, taxes, insurance, mortgage interest, rent buildings / equipment, indirect costs or overhead costs.
Further direct costs such as direct material cost, direct labor cost and the cost of packing (packaging) of this magnitude will tend to "stay" perunit output. These costs generally referred to as "unit variable cost"; where the total cost is total variable cost will depend on the amount or vary with the amount / volume of production.
Total Cost = Total Fixed Cost + Total Variable Cost
(TC) (TFC) (TVC)
When the cost of production or manufacturing cost (manufacturing cost) per unit of product to be known, then this can be obtained by the following formula:
Production Cost per unit Total Cost of Production
(USD / unit) Amount / produced by Production Volume
7.3 DEPRECIATION OF AN ECONOMIC ASSET VALUE (Depreciation)
Definitively, depreciation / depreciation can be expressed as berkutangnya value (value) of a "physical assets" such as machinery, production equipment, factory buildings, and other elements with increasing use of these assets. In the case in shrinkage can be classified in the form:
• Physical Depreciation (physical Depreciation)
• Depreciation of work function (functional Depreciation)
• Depreciation of the economic value / accounting (accounting Depreciation)
Depreciation is defined as a reduction in physical shape, size or physical dimensions of asset due to usage. A simple example of this can be seen on the wear occurs on the bearing (bearing) which arise as a result of friction, thinning thick boiler tubes due to corrosion, and so on. Penyusustan work function is defined as a reduction in work function and usefulness of an asset, which in this case was not caused by a decrease in physical ability, but because of changes in demand / needs (demand) that is technically and economically feasible asset is no longer applied. For example, a decrease of new technology that caused peralatanproduksi or automatically operated equipment which will cause long been a no longer economical to operate. While accounting penyusustan will analyze the reduced value of the dollar value measure (USD).
Depreciation or depreciation size will depend on the method applied menyusutan. With the selected method, the depreciation cost of adjustable constant per year or greater are made in the first years and continued to decline (small) in the following years. Main reason of depreciation for the year was made earlier are as follows
• Providing protection against the risk of an asset usangnya rapid innovation due to the fast growing technology.
• Depreciation large ditahun early withdrawal will accelerate all the costs incurred for such investments as the asset is still in its peak performance, in addition to the tax-relief to be paid.
To determine the amount of depreciation costs, there are 4 (four) common method was applied, namely:
• straight-line depreciation method (straight line Depreciation method)
• the number of digits method of depreciation (sum of the year digits Depreciation method)
• declining balance depreciation method (declining balance method Depreciation)
• reduced funding depreciation method (Depreciation sinking fund method)
Before the calculation of depreciation costs must first be obtained data relating to:
• initial costs (cost + installation cost) of assets (P)
• Estimated value of assets sold on tahunke-N or commonly known as "salvage value" (S)
• Age indicates the length of productive assets is to be operated economically (N)
7.3.1 STRAIGHT-LINE DEPRECIATION METHOD (STRAIGHT LINE METHOD Depreciation)
This method provides the possibility to shrink the value of an asset at a constant rate of depreciation during the period took place. Depreciation costing formulation can be stated as follows:
P = initial cost (USD)
S = Salvage value (USD)
N = Period of depreciation
Example:
Initial value of an asset is Rp 40.000.000, - and setimasi its salvage value Rp 10.000.000, -. Depreciation period for 5 years, the cost of depreciation each year is:
= 1 / 5 (Rp 40.000.000, - - Rp 10.000.000, -)
= Rp 6.000.000, --
Year Cost Depreciation
Book Value per year on
end
0
1
2
3
4
5 --
6,000,000
6,000,000
6,000,000
6,000,000
6,000,000 USD 40,000,000
USD 34,000,000
USD 28,000,000
USD 22,000,000
USD 16,000,000
Rp 10.000.000
7.3.2 ASSET DEPRECIATION METHOD METHOD WITH SUM OF YEAR Digits
This method will calculate the cost of depreciation (depreciation) in a given year bebrdasarkan digit ratio that year with the number of digit years (sum of year digits) where applicable depreciation period. SOYD method will provide the possibility of the value of an asset will continue to decrease in the rate of certain reductions. The amount of depreciation can be calculated based on the formulation as follows:
Year Cost Depreciation
Book Value per year on
end
0
1
2
3
4
5 --
10,000,000
8,000,000
6,000,000
4,000,000
2.000.000 Rp 40,000,000
IDR 30,000,000
USD 22,000,000
USD 16,000,000
USD 12,000,000
Rp 10.000.000
7.3.3 BALANCE DEPRECIATION METHOD DECREASING (Declining Depreciation BALANCE METHOD)
This method will result in depreciation costs in large numbers in the early years and then rapidly in the period according to the following year. The amount of depreciation in this case is calculated based on the percentage teretentu / face-to book value of assets in the year prior to the desired depreciation. The formula calculating the annual depreciation charge in this case stated sepereti follows:
where:% R = the desired percentage of depreciation per year
BVn-1 = book value in year n-1 (n = 1, 2, ..., N)
Year Cost Depreciation
Book Value per year on
end
0
1
2
3
4
5 --
0.25 x 40,000,000 = 10,000,000
0.25 x 30,000,000 = 7,500,000
0.25 x 22,500,000 = 5,625,000
0.25 x 16,875,000 = 4,218,000
(12,656,250 -10,000,000) = 2,656,000 IDR 40,000,000
IDR 30,000,000
USD 22,500,000
USD 16,875,000
USD 12,656,000
Rp 10.000.000
Note:
In the case above% R = 25% per year. Depreciation costs for the period to 5 in this case does not follow the formula / method defined, because in this case bound to estimate the value of salvage value of Rp 10.000.000, -.
In this method, the determination of shrinkage percentage (% R) is based on setimasi will cause incompatibility with the depreciation of the asset salvage value at the end of the period of depreciation. To be precise, the determination of% R in this case can be determined according to the following formulation:
it is thus in the case above, R-dilai% would be:
= 24.22%
7.3.4 DEPRECIATION FUND DECREASED METHOD (METHOD Depreciation Sinking Fund)
In this method the value of an asset will be reduced by the continued depreciation rate increase. This Dalammetode of interest (interest) the bank will take into account the consequences of the changes ebagai money value in accordance with the function of time (Time Value of Money). Based on this method, the annual depreciation is the sum total of the amount invested in asset values in the "sinking fund" at the end of the year from the amount of interest earned during the year. The formula for this method are as follows:
As an example of the above questions, then:
= USD 4,031,400
With regard to the interest rate (i = 20%), the annual depreciation is:
AD1 = Rp 4,031,400, --
AD2 = Rp 4,031,400, - + 20% x Rp 4,031,400, --
= Rp 4,837,600, --
Year Cost Depreciation
Book Value per year on
end
0
1
2
3
4
5 --
4,031,400
4,834,600
5,805,200
6,966,300
8,359,000 USD 40,000,000
USD 35,968,600
USD 31,131,000
USD 25,325,800
USD 18,359,500
Rp 10.000.000
7.4 ANALYSIS OF POINT HOME (BREAK EVEN ANALISYS)
Titk home Anilisa principal is a general economic analysis applied in the decision-making process. In analyzing the point home crow, have to overlook things like the following:
• Condition of the future related to changes in the level of certainty needs (assumed to be constant fever)
• Value for money will not change over the period of time running (Time value of Money)
To perform the calculation analysis, then it can be seen from the following relationships are:
Fortunately (profit) or loss (loss) (Z) = Total Revenue (TC) - Total Cost (TC)
When the Z value is positive, the favorable conditions that will be found. Conversely if Z value is negative, then the losses incurred. Thus begins this relationship can be further analysis as follows:
[Total Revenue] = [Total Cost]
(TR) (TC)
Selling price per Number of output Variable Cost Total Cost Total Output
Home production product unit remains (TFC) per unit of production output return
(P) principal (NBEP) (V) principal (NBEP)
With slight modifications the above formula can be made as follows:
NBEP =
Number of output Total Fixed Costs
production of the selling price per home - Variable Cost
main (NBEP) product units per unit of product
The difference between the P - V is called by the term "contribution per unit of output". From this analysis found the assumptions and limitations are as follows:
• The selling price per unit of product (unit price) or P will always be constant, regardless of the number of units of output that can be sold. In real conditions, the unit price will depend on the law of supply existing demand.
• variable cost per unit of output (V) is also considered constant. No matter how much the amount of output sold, here is not known a discounted price (discount price).
• Assumption P and V values are constantly providing new assumption that all costs associated with the (cost) or revenue (cost) would be linear).
• Analysts can only be applied to analyze the production facility that produces products for a single service (single output).
Next we will discuss the production activities that have been implemented in a manufacturing industry with the knowledge of the following data:
• Total fixed costs TFC = Rp 90.000.000 -/tahun
• The total variable cost TVC = USD 192,000,000, -/tahun
• The number of products manufactured / sold was for 12,000 units / year
• Total revenue from the sale of 12,000 units of these products is the TR = Rp 240,000,000, --
So the profit or loss will be obtained is:
Z = TR - (TFC + TVC)
Z = USD 240.000.000/th - (USD 9.000.000/th + USD 192.000.000/th)
= - Rp 42,000,000, -/th
Since Z is negative (-), then clearly state that there is a loss.
a) Pressing / lower Total Fixed Costs (TFC)
Step down the amount TFC prices can be done with the road:
• Reduce costs penyusustan (depreciation) is by using a specific depreciation method or enlarge the period of depreciation.
• Pressing the costs of promotion, advertising or other expanses sales.
• Implement cost savings, other overhead costs such as indirect costs, etc..
To find out how much the maximum total fixed costs in order to provide conditions of possibility of profit analysis can be done with BE. As we all know the terms achieved break even condition is biia Z = 0, so that TR = TC or TFC + TVC. In other words, the relationship can be obtained:
TFC = TR - TVC
TFC = USD 240,000,000, -/th - USD 192,000,000, -/th
TFC = USD 48,000,000, -/th
From the calculation results can be concluded that if the production process and the benefits desired in other words is assumed to remain the same, then the total fixed cost (TFC) should be suppressed less than USD 48,000,000.
b) Pressing / Lower Variable Cost per unit of output or unit cost variable (V)
Step down unit cost variable (V) can be implemented by:
• Implement improvements to the working procedures of standards or other working systems so that production processes can be implemented more effectively and more efficiently.
• Selecting materials that are cheaper, and easier / faster to produce, raise the technological level of production process by selecting a machine or production facilities are more productive options that can reduce the cost of direct labor (direct labor cost), energy saving and so on .
To find out how many units the maximum cost variables that can be tolerated so that the production process can be profitable, then the same way can be evaluated through the analysis of the calculation as follows:
Of the existing problems and obtained information that:
Unit Variable Cost = Total Variable Cost (TVC)
Volume products produced
V = USD 192.000.000/th = USD 16.000/unit
12,000,000 units / year
Clearly, in order to obtain an advantage in this case the unit variable cost (V) must be emphasized less than Rp 16.000, -. From the analysis, where the terms Z = 0 must be fulfilled, obtained the following relationship:
TR = TC
TR = TFC + TVC = TFC + ON
V = Rp 12.500, -/unit Yr
c) Raise the Price perunit or Unit Cost Items Price (P)
Although measures to raise the selling price is not an easy alternative to implement, but nevertheless it remains a pikihan can be taken by management in order to prevent themselves from losses. Based on the information data, obtained that:
Total Revenue (TR) = USD $ 240,000,000, -/tahun
where TR = P x N
Price = Total Revenue (TR)
Volume Sold Items (N)
P = Rp 240,000,000, -/tahun = Rp 20.000, -/unit Yr
12.000/unit/tahun
Obviously with P = Rp 20,000, will cause losses -/unit Yr because here TR
Z = 0; TR = TC or
P.N = TFC + NV
P = TFC + V
N
P = Rp 90.000.000 -/th + Rp 16.000, -/unit Yr
12,000 units / year
P = Rp 23.500, -/unit Yr
d) Increasing Number or Volume Unit Output (N) who made / sold
This step enables management to increase the amount of production output as much as possible (in accordance with the capacity terpasangnya) without worrying about these things can affect the total fixed cost (TFC). The greater the volume of production is produced, then the contribution of fixed cost per unit of output will be smaller. This course will be able to push the total to calculate the end. Back again to the concept of BE analysis stated in the previous pages, the basic formulation obtained as follows:
Number of output Total Fixed Costs
production of the selling price per home - Variable Cost
main (NBEP) product units per unit of product
NBEP =
From the results of calculations can be concluded that if you want to make profit, the amount / volume of product to be made should be increased more for 22,500 units / year. When N = 22,500 units / year this will lead only to reach break-even condition.
7.5. ENGINEERING ECONOMIC ANALYSIS (ENGINEERING ECONOMY ANALISYS)
Many projects engineering (engineering) that in reality there are often faced with alternative choices such as design, procedures, methods, and so on. Economic aspect has to do with the investment (fixed cost) is required, operational costs should be dikelarkan, overhead cost and others. Economic analysis techniques (engineering economy analisys) in this case will compare the differences of alternatives in this engineering project economic value of dinyatakandalam amount of money (cost). The best alternative would provide the smallest cost (economical).
7.5.1 PROCEDURE FOR EVALUATION & DETERMINATION PROJECT ALTERNATIVE TECHNIQUE AND problem
In evaluating the technical projects (engineering project) in order to determine the best alternative to be proposed, then the following procedure can be taken:
a) These alternatives should be clearly formulated before compared to one another. Here, each alternative must be equal or equivalent; in the sense that no significant in terms of functionality / usability, technical specifications and so on. Evaluation and determination of alternatives can only be done at least there are 2 (two) possibilities that might be proposed.
b) Any decision taken must also membari consideration to the consequences or impact that will happen later.
c) Further evaluation and / or decisions taken should be reviewed to satisfy the interests of whom? Is the interest of the project owners or the public / consumers generally? Analysis of BCR (Benefit Cost Ratio) is one way to assess this.
d) For each analysis and economic decisions are taken, then the money - as an economic unit the unit will be applied as the main benchmark. Here the differences are expressed in units appropriate physical units, and units of physical force is converted in units of the applicable unit of currency (USD or $).
e) There should be criteria in making decisions clearly. The main criteria for selection of the best alternative in this case lies in the alternative capable of using all available resources effectively and efficiently.
Problem evaluation and alternative selection of engineering projects, many of us have encountered in the form:
• Alternatives for the plant site selection
• Alternatives for the election of power generation (diesel power, hydropower, power plant, nuclear plants, etc.) and its procurement policies.
• And others.
7.5.2 THE CONCEPT OF INTEREST LOANS (INTEREST)
Term rates may be interpreted as rental value of borrowing some money for a certain time. Also of interest is defined as the rate of return (rate of return) of the amount of money invested. Some money comes from their own or borrowed (individual stocks, banks or other financial institutions), then the owner of the money would usually expect a "compensation" to the conditions in which the owner will not be able to use the money within a certain time period. In the cost analysis, this compensation will be calculated as one element of cost (cost), where the size of interest (interest) will be influenced by factors such as:
• Risks not return the money invested / borrowed for a variety of things such as losses, inflation and so on.
• The influence of the law of demand and supply (supply-demand) is associated with the funds for loans.
• overhead costs that must be paid for keeping clection book fees, and other administrative costs as well besides the length of the loan period.
• The rules are created / set by the government related to a specified amount of interest. For example in Indonesia, much interest will langnsung controlled by Bank Indonesia.
7.5.3 TYPE-TYPES OF INTEREST AND METHOD application
Interest rates are always expressed per year, unless there is another provision, when it states:
i = 18% / year
i = 1.8% / month
i = 4.5% / tri wulan
i = 9% / ½ years
So the statement above would have the same understanding. In a simple interest when considered as a sum of money received as a result of capital investment, then this will be interpreted as a gain (profit). Conversely, when interest is expressed as a sum of money received as rental payments (rental fee) from the loan money, then it could be interpreted as cost (cost).
7.5.4 CHANGES IN THE VALUE OF MONEY BECAUSE OF TIME AND DO THE INTEREST RATE
As already explained earlier that the money will have a specific interest rate when implanted in a specific time period. The relationship between interest and this time will bring us to the concept of change in the value of money within a specific time (Time Value of Money). Here the value of money will change according to the function of the time, because when the amount of money borrowed for a certain period, then the amount of money must be paid back next akanlebih than the number who had borrowed it. Difference value of the money paid back and the value of the borrowed money is what we call the interest or interests. In conditions where the interest rate (i)> 0, this will mean the value of money at different times will not be the same.
7.5.5 TYPE-TYPES OF INTEREST AND METHOD application
The amount of interest that must be paid in principle, will depend on 3 things:
• The length of time / rental period (n)
• The amount of fixed interest rate (i%)
• The method is applied to the determination of interest include the simple interest method (single interest) and methods are combined interest (compound interest).
In the single method of interest, the amount of interest here would be proportionately paid to the method of the loan period (n) multiplied by the amount of money borrowed. Simply put it can also be formulated as follows:
I = P.n.i
where P = amount of money saved / invested
i = interest rate (%)
n = period of time the loan during the applicable interest
7.5.6 INFLUENCE OF THE TIME VALUE OF MONEY, INTEREST (INTEREST) and their application ECONOMIC ANALYSIS IN ENGINEERING
Related to the change of the time value of money or interest factors, it is in some way a relationship can be found at the dollar value of past, present or the future by looking at the prevailing interest rates. Symbols / The following notation is then used in solve problems of economic analysis techniques:
i = rate / interest rate per period interest rate applicable (interest rete).
n = period interest rate determined in a certain period if not specifically stated the interest period is generally considered per year.
P = principal amount of money whose value is calculated / dielivalensikan in the future (Present Worth)
F = The amount of money whose value is calculated principal / dielivalensikan in the future (Future Worth) at the end of the period of interest (n). The amount of the value of F is the principal (P) plus the accumulated interest during the rental period.
A = Number of n single payment equal pay row (Uniform Series) done at each end of the period of interest tahnan (Annual Payment or annuity)
Furthermore, to analyze the relationship between P, F and A are expressed in the variables n and i% can be searched by specific formulations which will be explained the application.
a. SINGLE PAYMENT (SINGLE PAYMENT)
Analysis of the calculation here to find out the relationship between P and F value or otherwise set forth in accordance with the variables n and i%. Here the relationship is known formulation as follows:
1) a single payment of multiple factors (Single Payment Compound Amount Factor)
Used to find the price of M where the value of P, n and i% unknown. The formula used is:
F = P (F / P, i%, n) or
F = P (1 + i) n
2) Present Value Factor from Single Payment (Single Payment Present Worth Factor)
Present value factor (Present Worth Factor) is used to find the value of principal (P) where F, n, and i% unknown. Formulation can be written:
P = F (P / F, i%, n) or
P = F
b. PAYMENT IN THE SAME AMOUNT AS Series (respectively) AT EACH END OF YEAR PAYMENT OR ACCEPTANCE (UNIFORM SERIES ANNUAL END OF YEAR PAYMENTS RECEIPT OR)
Calculation analysis was applied here to find out the relationship between an A, C and F are expressed in accordance with the variables n and i%. There are four types of relationships formulations respectively can be explained as follows:
1) factor funds saved / paid in equal numbers in series (The Uniform Series Sinking Fund Factor)
Uniform series used to search for a price when the value of F, n and i% is known, where the formulation can be written as follows:
or A = F (A / F, i%, n)
2) Factors funds / capital absorbed back in the same amount respectively (Uniform Series Capital Recovery Factor)
This method is used to understand the how the money should be withdrawn in the same amount respectively (A) with interest i% during the period is n to fund a number of P that has been invested. Formulation is shown as follows:
Or
, Or A = P [A / P, i%, n]
3) Factor of funds collected from the same payments in a row (Uniform Series Compound Factor)
Used to find out how much money is collected (F) at the end of n-year period for interest payments seriap in the same amount respectively with i% interest rate. Formulation can be explained as follows:
F = A (F / A, i%, n)
4) The value of money now from the same payments in a row (Uniform Series Present Worth Factor)
Accounting System
1.Dasar Accounting System
Accounting system (accounting system) is a method and procedure for mengupulkan, classify, summarize, and report financial and operating information of a company.
Accounting system developed through three steps when the company and subject to change.
The first step, the analysis (analysis) consists of
1) identification of the needs of the parties who need financial statements 2) determining how the system will present the information.
The second step, the accounting system was designed (desaigned) so as to meet the needs of its users.
In the last step, the accounting system applied (implemented) and used.
Internal control and data processing methods are essential in the accounting system. Internal controls (internal controls) are policies and procedures that protect corporate assets from misuse, ensuring that business information is presented accurately and ensure that laws and regulations have been followed.
Internal 2.Pengendalian
Internal control objectives is to provide reasonable assurance that:
a.Aktiva protected and used for the achievement of business objectives.
business b.Informasi accurate.
c.Karyawan comply with the rules and regulations.
Internal controls to protect assets from theft, embezzlement, or the placement of assets in an inappropriate location. One of the serious breach of internal controls is embezzlement by employees (employee fraud).
The elements of internal controls (elements of internal control) are:
a.Lingkungan control
Environmental control of a company includes all management and employee attitudes about the importance of controlling the factors among others, influenced by the philosophy and operating style of management. In addition, the structure of business organization which is the basic framework for planning and controlling operations also affect the control environment. Personnel policies including recruitment, training, evaluation, determination of salary, and promotion of employees also affect the control environment.
b.Penilaian risk
All organizations face risks. Examples of risks include changes in customer demands, competitive threats, regulatory changes, changes in economic factors such as changes in interest rates, and employee violations of company procedures. Once the risk can be identified, then the analysis can be done to estimate the magnitude of the risk impact and the level tersbut possibilities, and determine actions to meminimumkannya.
c.Prosedur control
Control procedures implemented to provide reasonable assurance that business objectives will be achieved, including embezzlement. Among these procedures are:
Competent employees, job rotation, and must leave.
The separation of responsibilities for related operations.
Separation operation, security of assets, and accounting.
Verification and security procedures.
d.Pemantauan
Monitoring of the internal control system will identify the location where the weaknesses and improve the effectiveness of these controls.
e.Informasi and communication
Valid information about the control environment, risk assessment, control procedures, and monitoring required by management to direct operations and ensure the fulfillment of reporting requirements and regulations.
3.Sistem Accounting Manual
Great a.Buku Assistant
Accounting system should be designed to provide information about the numbers of invoices to various customers (accounts receivable) and the amount to be paid to creditors (accounts payable).
If there are number of very large accounts with the same characteristics, these accounts can be grouped into a separate ledger called the subsidiary ledger (subsidiary ledger), which holds all the accounts balance sheet and income statement, called the general ledger (general ledger ).
Account for each customer arranged alphabetically in the subsidiary ledger called the subsidiary ledger accounts receivable (accounts receivable subsidiary ledger) or a big book customers (customers ledger). While account for each creditor arranged alphabetically in the subsidiary ledger called the subsidiary ledger business debt (accounts payable subsidiary ledger) or a big book of creditors (creditors ledger).
Special b.Jurnal
One way to process data more efficiently to the manual accounting system is to expand two-column journal to journal with many columns (multikolom). There are also special journal (special jornal) is designed for one type of transaction records relating to expenditure of money.
Transactions are common in small-scale service companies and medium and special journal used to record these transactions are as follows:
Provision of credit services in an income recorded in journal
Cash receipts from anywhere recorded in cash receipts journal
Purchases of goods on credit purchases are recorded in journal
Cash payments for anything recorded on the cash payments journal
Revenue and Billing 4.Siklus
Revenue Journal
The journal is only used to record revenues in credit services (fees earned on the account). Income received in cash are recorded on the cash receipts journal.
Cash receipts journal
All transactions involving cash receipts recorded on the cash receipts journal (cash receipts journal).
5.Siklus Purchases and Payments
Purchases Journal
Journal purchases (purchased jornal) is designed to record all purchases on credit (purchased on account).
Cash Payments Journal
Special column for the journal of cash payments (cash payment journal) is determined in the same manner as journal income, purchases, and cash receipts. The determining factor is the type of transaction that will be recorded and how often the transaction occurred.
6.Modifikasi of Accounting System Manual
Additional Maid Ledger
Generally, the subsidiary ledger for the accounts of many posts, which each have specific characteristics. For example a company could use the equipment subsidiary ledger to accommodate all matters related to the equipment purchased.
Journal of Modified Special
Companies can modify the journal, especially by adding one or more columns to record the transactions that often occur.
Computerized accounting 7.Sistem
A computerized accounting system similar to the manual accounting system. The main advantage of the computerized accounting system is the recording and posting transactions simultaneously, a high degree of accuracy, and speed of reporting. Accounting applications such as QuickBooks ® use.
8.E-Commerce
E-commerce is the use of the Internet to conduct business transactions. B2C e-commerce transactions involving the Internet between companies with pelangannya and also between a company with another company. E-commerce can be used to improve the speed and efficiency of revenue cycle / billing cycle and purchase / payment. Wider implementation of e-commerce include the planning and coordination of suppliers, customers, and product design process.
Accounting system (accounting system) is a method and procedure for mengupulkan, classify, summarize, and report financial and operating information of a company.
Accounting system developed through three steps when the company and subject to change.
The first step, the analysis (analysis) consists of
1) identification of the needs of the parties who need financial statements 2) determining how the system will present the information.
The second step, the accounting system was designed (desaigned) so as to meet the needs of its users.
In the last step, the accounting system applied (implemented) and used.
Internal control and data processing methods are essential in the accounting system. Internal controls (internal controls) are policies and procedures that protect corporate assets from misuse, ensuring that business information is presented accurately and ensure that laws and regulations have been followed.
Internal 2.Pengendalian
Internal control objectives is to provide reasonable assurance that:
a.Aktiva protected and used for the achievement of business objectives.
business b.Informasi accurate.
c.Karyawan comply with the rules and regulations.
Internal controls to protect assets from theft, embezzlement, or the placement of assets in an inappropriate location. One of the serious breach of internal controls is embezzlement by employees (employee fraud).
The elements of internal controls (elements of internal control) are:
a.Lingkungan control
Environmental control of a company includes all management and employee attitudes about the importance of controlling the factors among others, influenced by the philosophy and operating style of management. In addition, the structure of business organization which is the basic framework for planning and controlling operations also affect the control environment. Personnel policies including recruitment, training, evaluation, determination of salary, and promotion of employees also affect the control environment.
b.Penilaian risk
All organizations face risks. Examples of risks include changes in customer demands, competitive threats, regulatory changes, changes in economic factors such as changes in interest rates, and employee violations of company procedures. Once the risk can be identified, then the analysis can be done to estimate the magnitude of the risk impact and the level tersbut possibilities, and determine actions to meminimumkannya.
c.Prosedur control
Control procedures implemented to provide reasonable assurance that business objectives will be achieved, including embezzlement. Among these procedures are:
Competent employees, job rotation, and must leave.
The separation of responsibilities for related operations.
Separation operation, security of assets, and accounting.
Verification and security procedures.
d.Pemantauan
Monitoring of the internal control system will identify the location where the weaknesses and improve the effectiveness of these controls.
e.Informasi and communication
Valid information about the control environment, risk assessment, control procedures, and monitoring required by management to direct operations and ensure the fulfillment of reporting requirements and regulations.
3.Sistem Accounting Manual
Great a.Buku Assistant
Accounting system should be designed to provide information about the numbers of invoices to various customers (accounts receivable) and the amount to be paid to creditors (accounts payable).
If there are number of very large accounts with the same characteristics, these accounts can be grouped into a separate ledger called the subsidiary ledger (subsidiary ledger), which holds all the accounts balance sheet and income statement, called the general ledger (general ledger ).
Account for each customer arranged alphabetically in the subsidiary ledger called the subsidiary ledger accounts receivable (accounts receivable subsidiary ledger) or a big book customers (customers ledger). While account for each creditor arranged alphabetically in the subsidiary ledger called the subsidiary ledger business debt (accounts payable subsidiary ledger) or a big book of creditors (creditors ledger).
Special b.Jurnal
One way to process data more efficiently to the manual accounting system is to expand two-column journal to journal with many columns (multikolom). There are also special journal (special jornal) is designed for one type of transaction records relating to expenditure of money.
Transactions are common in small-scale service companies and medium and special journal used to record these transactions are as follows:
Provision of credit services in an income recorded in journal
Cash receipts from anywhere recorded in cash receipts journal
Purchases of goods on credit purchases are recorded in journal
Cash payments for anything recorded on the cash payments journal
Revenue and Billing 4.Siklus
Revenue Journal
The journal is only used to record revenues in credit services (fees earned on the account). Income received in cash are recorded on the cash receipts journal.
Cash receipts journal
All transactions involving cash receipts recorded on the cash receipts journal (cash receipts journal).
5.Siklus Purchases and Payments
Purchases Journal
Journal purchases (purchased jornal) is designed to record all purchases on credit (purchased on account).
Cash Payments Journal
Special column for the journal of cash payments (cash payment journal) is determined in the same manner as journal income, purchases, and cash receipts. The determining factor is the type of transaction that will be recorded and how often the transaction occurred.
6.Modifikasi of Accounting System Manual
Additional Maid Ledger
Generally, the subsidiary ledger for the accounts of many posts, which each have specific characteristics. For example a company could use the equipment subsidiary ledger to accommodate all matters related to the equipment purchased.
Journal of Modified Special
Companies can modify the journal, especially by adding one or more columns to record the transactions that often occur.
Computerized accounting 7.Sistem
A computerized accounting system similar to the manual accounting system. The main advantage of the computerized accounting system is the recording and posting transactions simultaneously, a high degree of accuracy, and speed of reporting. Accounting applications such as QuickBooks ® use.
8.E-Commerce
E-commerce is the use of the Internet to conduct business transactions. B2C e-commerce transactions involving the Internet between companies with pelangannya and also between a company with another company. E-commerce can be used to improve the speed and efficiency of revenue cycle / billing cycle and purchase / payment. Wider implementation of e-commerce include the planning and coordination of suppliers, customers, and product design process.
Definition of liabilities of Bank Management
Liabilities MANAGEMENT BANK
A. Definition of liabilities of Bank Management
Management of bank liabilities or liability of the bank management is a process whereby the banks trying to develop sources of funds through non-traditional loans in the money market or by issuing debt instruments to be used primarily for the benefit of credit demand.
B. Management Concept liabilities
Liabilities management, in principle, can be divided into 2 types namely the concept of liability reserve position management and loan liability management position.
Reserve liability management position
In meeting the liquidity needs of short-term according to this concept can be done through loans from the money market. Furthermore this concept allows the bank has a ratio of productive assets is a little less liquid so as to increase bank profits.
Weaknesses concept Reserve liability management position include:
1. the uncertainties about the cost to provide backup or relatively illiquid assets
2. possible unavailability of funds in financial markets which led to higher interest rates drastically
Figure 6.4-B will show in terms of management strategy to balance the bank balance after the withdrawal of deposits.
Loan Liability Management Position
Loan liability management position aims to increase the number of productive assets for a profit. Requirements to adopt this concept is the availability of liquid financial market with enough participants, and with adequate funds in which a bank can not influence market interest rates.
Figure 1.1 shows the increase in credit financed by borrowing money from the money market.
Figure 1.1 Forms Management liabilities
A. Basic concepts of Bank Balance Sheet
- Reserve Primary
- Backup secondary
- Investments
- Savings
- Capital
- Credit
B. Reserve Position Liability Management
C. Loan Positioning Liability Management
- Reserve Primary
- Backup secondary
- Credit
- Savings
- Capital
- Investments
C. Management Target liabilities
Liabilities management is very important in the management of bank funds for the main reasons as follows:
a. to minimize the cost of bank interest
b. the importance of relationships with customers
c. to counterbalance the rules in the field of monetary and banking.
Liabilities management targets can be seen in Figure 1.2
Figure: 1.2
Bank Interest Cost minimizing
The ability of a bank's interest in minimizing the cost of this will obviously influence the cost of funds are concerned. The factors that cause a group of borrowers are not sensitive to interest rates, among others:
Z indifference
Z lack of competition
Z the cost of purchasing a minimum
Z transaction costs
Z other factors such as politics, policies, services, incentives and trust.
The main problem in the interest rate sensitivity analysis is the bank's ability to perform customer segmentation or grouping based on changes in interest rates.
Importance of good relations with customers
As one of the factors why the bank's liabilities to the management side is to be able to meet the needs / requests of credit primarily by customers who are large companies. Customers are often classified as major customers (prime customers). Good relationship between banks with major clients is very important for banks and should be placed on a high priority. Benefits to be gained from this relationship in addition to the high spreads that can be generated from the credits.
The next things that need to be strengthened with the bank regarding the customer relationship is the factor share provider and offers complete banking services, fast and precise needs.
Offset rules
Restrictions on deposit interest rates will cause the bank can not attract all the funds offered primarily on the period of high interest rates. Restricted deposit interest rate will result in distortions and inefficient. Reserve shall in principle constitute an additional cost for the banks. The higher provision shall reserve the greater the additional costs.
Liabilities position
Liabilities consist of several main headings, in which each outposts in liabilities explain obligations (liabilities) both short-and long-term, and post capital (equity). Respective functions such liabilities are as follows:
Liabilities and equity side (liabilities) reflects the bank's balance sheet fund collection activities originating from various sources. Bank funds basically come from the public or third parties and the bank's own capital (equity). The order of the post balance sheet liabilities side is according to the format stipulated by Bank Indonesia as follows:
1. Giro
This heading consists of checking the rupiah and foreign currency belonging to third parties, which are stored in the bank and all branches both inside and outside the country. Current accounts can be withdrawn by check, transfer and other pay warrant.
Giro is the withdrawal of savings can be made at any time by using checks, giro bilyet, other means of payment orders or with the entry. Giro consists of checking account customers and other bank checking accounts.
Demand Deposits Demand Deposits or sometimes called a savings account Cheking that can be used as a means of payment and withdrawal can be done at any time by using checks, other means of command or entry way. Because of the nature of withdrawal can be done any time, then the gyro is a source of funds for banks is very unstable. For the customer's checking account with these properties will be very helpful and a means of payment more efficient. Therefore, this checking account are generally owned by clients that require payment to be more efficient in speeding up its business activities. Each owner has a current account (given) checkbook and bilyet giro as instruments to make withdrawals of funds and payment of a transaction. Checks can be used for a payment in cash transactions, checks can be drawn on the fiat or on behalf of and can not be canceled by the puller unless the check is listed as missing or stolen with missing evidenced by reports from the police. Check on the principle of unconditional order to pay a certain amount of money during delivery. According KUHD paragraph 205 "of each check must be paid on the day of his appointment even though the check presented for payment before the day is called segabai day / date of issue". The next time the grace period for payment shown on the check is 70 days from the date of its withdrawal.
While bilyet gyro is basically a command to the bank to transfer a certain amount of money bukukan the burden of fetching account on the date specified to the party listed on the warkat bilyet giro. Bilyet giro can not be withdrawn in cash but can only transfer. Bilyet giro payment orders are not unconditional, but payment will only be made in accordance with the effective date of expiration. Besides giro bilyet be canceled unilaterally pulling accompanied by pembatalannya reasons.
In the checking account, the bank provides the so-called reward checking services. GIRO services are of interest given by banks to the edge of the gironya balance. Tingak rates are relatively smaller compared with other deposits. Savings and current accounts is not actually a savings to get the flowers but simply used as a means to smooth business transactions. Therefore, savings deposits are widely used by the perngusaha who have activities that require payment in check form. For banks, these deposits is a source of low-cost funds but because of its withdrawal, the bank should really be following the withdrawal behavior of customers who in turn will affect the pattern of bank liquidity management.
Calculation of giro services each bank uses a different way. The derivation of commonly used services bank deposits among other things, based on daily balance and average balance per month. The derivation is highly dependent on bank management policies are concerned. Provision of services is usually limited to checking the amount of the minimum balance set by the bank. For example giro balances up to USD 5 Million diberkan no checking services. The greater the number of current accounts balance the greater the percentage of deposits are given.
Calculation of interest to determine the gyro services can be done by using a single rate system and the system of compound interest or the story. The system determines the interest rates with a single menggukana system is relatively simple because it uses one type of interest rates. While the system is more varied story interest and is calculated based on the provision of each service rate gyro for each of the balance of current accounts.
2. Another immediate obligation
That is the immediate obligation to pay, among others to the central government or the office of the State Treasury and Cash, interbank transfers, interbank call money and foreign currency travelers checks that have been sold. Included in this post is for money, a coupon that is due and all other obligations that term less than 15 days, such as call money.
3. Savings
Is the withdrawal of savings can only be done under certain conditions agreed upon but can not be withdrawn by check and bilyet giro. It consists of postal savings rupiah and foreign currency non-bank third property, which is stored in the bank and all branches both inside and outside the country.
Savings products currently varies widely after pakto 27, 1988. This happens because the banks are given the freedom to conduct their own savings. Besides the intense competition between banks in raising money through savings mobilization caused banks to create the kind of forced savings programs in addition to the more varied and interest rates are quite attractive prizes. The cost of funds derived from these savings can be classified as relatively expensive funds. Higher than giro service but less than the combined deposits. Combined calculation of these savings fund sources can be done based on the daily balance, average balance or the lowest balance of the savings.
Customers who want to take advantage of these savings in addition to the facility has a current account should also open a savings account at the same bank. This facility enables customers to enjoy higher rates of interest earned on savings accounts while still utilizing gironya. The mechanism of this product is done by every customer to be included as deposits deposits to savings accounts, while at the customer's interest or bilyet giro check and balance if it is found insufficient, then the respective bank can transfer from savings to checking account customers who previously had memberika authorizes the bank to transfer from savings accounts to checking accounts as needed to satisfy the lack of withdrawal.
4. Deposits
Is the withdrawal of savings can only be done at a certain time by agreement with the depository bank customers. This heading consists of time deposits, deposits on call, certificates of deposit and other similar deposits, which are stored in the bank and all branches both inside and outside the country. These deposits in rupiah and in the foreign exchange owned by third parties that withdrawal can be done by a certain time period in accordance with the agreement between the bank with customers.
This funding source has a key feature of the period is fixed, therefore, often referred to as fixed deposits generally have a maturity period of 1 month, 3 months, 6 months, 12 months, 24 months. These deposits can be withdrawn only at maturity by the party whose name is listed in bilyet deposits. Therefore, the savings deposits in the name. Further deposits are withdrawn by the depositors before the expiration period as has been agreed, the bank wearing a penalty to the rights of depositors and interest income are not counted by the bank for these deposits. To ease customers in the extension of time deposits, the bank provides the facility period giving automatic or automated rollover. An extension is valid for new deposits. To make it easier and profitable customers, depositors usually open savings accounts for example, savings in the bank concerned. And so on until the depositors decided to extend the deposit again. But for banks that want the interest transferred to another account and the interest is not taken, then the deposit rates may increase the principal amount of customer deposits.
Side bank, the source of funds is deposits of funds are classified as expensive compared to other funding sources. But profits for the bank is providing liquidity to the needs of these withdrawals can be predicted almost as accurately. These types of deposits as preferred by customers because they offer interest rates relatively higher than the deposits.
The amount of interest should be reduced still applicable income taxes for the final 15%.
5. Certificate of Deposit
Is the savings in the form of certificates of deposits transferable evidence of storage or deposit certificates of deposit sertificate is a proof-term deposit savings can be bought and sold. Form of savings is not so popular among the banks. Therefore, the banking funds sourced from this type of smaller amounts than other funding sources. These savings banks require permission in advance from the BI to banks that will issue certificates of deposit. But since pakto 27, 1998 that any bank can issue a certificate of deposit as an instrument association funds without permission from the BI, simply by telling it.
Characteristics of the certificates of deposit are as follows:
(Published by fiat in the bank specified time.
(Can be traded.
(It is a money market instruments.
(Interest paid in advance.
(Can be used as collateral.
6. Securities issued
Type liabilities position in this post are securities issued by banks that caused the obligation to pay for the banks in question both in rupiah and foreign currencies. Issued securities may include debt pengkuan letter or promissory note, money orders, and bonds.
7. Loans Received
Is all the loans received by banks including the Central Bank liabilities in the form of liquidity credit, discount facilities, and loans from other banks. In the world of banking cooperation are common in various forms such as providing assistance in the form of expert assistance (consultant) or in the form of working capital / capital. Financial aid is typically given as a course in the sense pinjamai short term, and medium-term. (For a maximum period of 7 days we call the call money, while those without a time limit in the sense that every moment can be captured by the first notice we call deposits on call. Loan borrowing is a common provision of bank loans into banks kua relatively weaker , such as government banks to the National Private Banks or foreign banks to the National Private Bank.
8. Subordinated Debt
Is obtained loans from related parties or from banks and other parties who meet certain requirements, such as the withdrawal period requirements / reimbursement in accordance with the provisions of Bank Indonesia
9. Other liabilities
This heading teridiri from other liabilities account balances, both in rupiah and foreign currencies that can not be incorporated into other posts. An example is the interest to be paid, tax bills and other obligations.
10. Capital
Equity or own capital also called consisting of:
™ for the bank's paid up capital of the Indonesian legal entities, in the form of capital or principal and compulsory deposits (for cooperatives) who actually had paid, namely the difference between the capital with a capital base that has not been paid. Capital in deposit for foreign bank branches, a net fund the headquarters and branch offices abroad. Net Fund is a difference between the balance of investment and the central office or branch offices abroad in branch offices in Indonesia with Kantar-investment balance of branch offices in Indonesia.
™ agio shares, in the form of excess capital deposits received by banks as a result of the stock price melibihi nominal value.
™ reserves, reserves of which is formed from the allowance for profit or net profit after deducting taxes, and owner approval or general meeting of shareholders meeting Arau founding member of the provisions or articles of association of each bank.
™ Capital contributions, capital contributions from other parties.
™ Difference in the financial statements
™ Difference in revaluation of fixed assets, the difference between the actual value of fixed assets and the value that has been recorded.
™ Profit-loss securities Unrealized
™ other comprehensive income
Capital Bank as a number of funds invested in various types of business (venture) the relevant banking. The bank's capital consists of own capital is sometimes referred to as "equity capital" (equity capital) is the investment made by the limited company of a bank. Whereas the second group is the senior capital (senior capital) is the bank's capital obtained from sale of bonds (bonds) and preferred stock (preferred stock): bonds were the papers term debt of more than a year and a particular interest simplex issued by private banks or state banks. The second is the preferred stock is stock that gives many the right to receive dividends or the profits which are distributed by banks and the property at the time of the dissolution of the corporation in advance of the ordinary shares.
A. Definition of liabilities of Bank Management
Management of bank liabilities or liability of the bank management is a process whereby the banks trying to develop sources of funds through non-traditional loans in the money market or by issuing debt instruments to be used primarily for the benefit of credit demand.
B. Management Concept liabilities
Liabilities management, in principle, can be divided into 2 types namely the concept of liability reserve position management and loan liability management position.
Reserve liability management position
In meeting the liquidity needs of short-term according to this concept can be done through loans from the money market. Furthermore this concept allows the bank has a ratio of productive assets is a little less liquid so as to increase bank profits.
Weaknesses concept Reserve liability management position include:
1. the uncertainties about the cost to provide backup or relatively illiquid assets
2. possible unavailability of funds in financial markets which led to higher interest rates drastically
Figure 6.4-B will show in terms of management strategy to balance the bank balance after the withdrawal of deposits.
Loan Liability Management Position
Loan liability management position aims to increase the number of productive assets for a profit. Requirements to adopt this concept is the availability of liquid financial market with enough participants, and with adequate funds in which a bank can not influence market interest rates.
Figure 1.1 shows the increase in credit financed by borrowing money from the money market.
Figure 1.1 Forms Management liabilities
A. Basic concepts of Bank Balance Sheet
- Reserve Primary
- Backup secondary
- Investments
- Savings
- Capital
- Credit
B. Reserve Position Liability Management
C. Loan Positioning Liability Management
- Reserve Primary
- Backup secondary
- Credit
- Savings
- Capital
- Investments
C. Management Target liabilities
Liabilities management is very important in the management of bank funds for the main reasons as follows:
a. to minimize the cost of bank interest
b. the importance of relationships with customers
c. to counterbalance the rules in the field of monetary and banking.
Liabilities management targets can be seen in Figure 1.2
Figure: 1.2
Bank Interest Cost minimizing
The ability of a bank's interest in minimizing the cost of this will obviously influence the cost of funds are concerned. The factors that cause a group of borrowers are not sensitive to interest rates, among others:
Z indifference
Z lack of competition
Z the cost of purchasing a minimum
Z transaction costs
Z other factors such as politics, policies, services, incentives and trust.
The main problem in the interest rate sensitivity analysis is the bank's ability to perform customer segmentation or grouping based on changes in interest rates.
Importance of good relations with customers
As one of the factors why the bank's liabilities to the management side is to be able to meet the needs / requests of credit primarily by customers who are large companies. Customers are often classified as major customers (prime customers). Good relationship between banks with major clients is very important for banks and should be placed on a high priority. Benefits to be gained from this relationship in addition to the high spreads that can be generated from the credits.
The next things that need to be strengthened with the bank regarding the customer relationship is the factor share provider and offers complete banking services, fast and precise needs.
Offset rules
Restrictions on deposit interest rates will cause the bank can not attract all the funds offered primarily on the period of high interest rates. Restricted deposit interest rate will result in distortions and inefficient. Reserve shall in principle constitute an additional cost for the banks. The higher provision shall reserve the greater the additional costs.
Liabilities position
Liabilities consist of several main headings, in which each outposts in liabilities explain obligations (liabilities) both short-and long-term, and post capital (equity). Respective functions such liabilities are as follows:
Liabilities and equity side (liabilities) reflects the bank's balance sheet fund collection activities originating from various sources. Bank funds basically come from the public or third parties and the bank's own capital (equity). The order of the post balance sheet liabilities side is according to the format stipulated by Bank Indonesia as follows:
1. Giro
This heading consists of checking the rupiah and foreign currency belonging to third parties, which are stored in the bank and all branches both inside and outside the country. Current accounts can be withdrawn by check, transfer and other pay warrant.
Giro is the withdrawal of savings can be made at any time by using checks, giro bilyet, other means of payment orders or with the entry. Giro consists of checking account customers and other bank checking accounts.
Demand Deposits Demand Deposits or sometimes called a savings account Cheking that can be used as a means of payment and withdrawal can be done at any time by using checks, other means of command or entry way. Because of the nature of withdrawal can be done any time, then the gyro is a source of funds for banks is very unstable. For the customer's checking account with these properties will be very helpful and a means of payment more efficient. Therefore, this checking account are generally owned by clients that require payment to be more efficient in speeding up its business activities. Each owner has a current account (given) checkbook and bilyet giro as instruments to make withdrawals of funds and payment of a transaction. Checks can be used for a payment in cash transactions, checks can be drawn on the fiat or on behalf of and can not be canceled by the puller unless the check is listed as missing or stolen with missing evidenced by reports from the police. Check on the principle of unconditional order to pay a certain amount of money during delivery. According KUHD paragraph 205 "of each check must be paid on the day of his appointment even though the check presented for payment before the day is called segabai day / date of issue". The next time the grace period for payment shown on the check is 70 days from the date of its withdrawal.
While bilyet gyro is basically a command to the bank to transfer a certain amount of money bukukan the burden of fetching account on the date specified to the party listed on the warkat bilyet giro. Bilyet giro can not be withdrawn in cash but can only transfer. Bilyet giro payment orders are not unconditional, but payment will only be made in accordance with the effective date of expiration. Besides giro bilyet be canceled unilaterally pulling accompanied by pembatalannya reasons.
In the checking account, the bank provides the so-called reward checking services. GIRO services are of interest given by banks to the edge of the gironya balance. Tingak rates are relatively smaller compared with other deposits. Savings and current accounts is not actually a savings to get the flowers but simply used as a means to smooth business transactions. Therefore, savings deposits are widely used by the perngusaha who have activities that require payment in check form. For banks, these deposits is a source of low-cost funds but because of its withdrawal, the bank should really be following the withdrawal behavior of customers who in turn will affect the pattern of bank liquidity management.
Calculation of giro services each bank uses a different way. The derivation of commonly used services bank deposits among other things, based on daily balance and average balance per month. The derivation is highly dependent on bank management policies are concerned. Provision of services is usually limited to checking the amount of the minimum balance set by the bank. For example giro balances up to USD 5 Million diberkan no checking services. The greater the number of current accounts balance the greater the percentage of deposits are given.
Calculation of interest to determine the gyro services can be done by using a single rate system and the system of compound interest or the story. The system determines the interest rates with a single menggukana system is relatively simple because it uses one type of interest rates. While the system is more varied story interest and is calculated based on the provision of each service rate gyro for each of the balance of current accounts.
2. Another immediate obligation
That is the immediate obligation to pay, among others to the central government or the office of the State Treasury and Cash, interbank transfers, interbank call money and foreign currency travelers checks that have been sold. Included in this post is for money, a coupon that is due and all other obligations that term less than 15 days, such as call money.
3. Savings
Is the withdrawal of savings can only be done under certain conditions agreed upon but can not be withdrawn by check and bilyet giro. It consists of postal savings rupiah and foreign currency non-bank third property, which is stored in the bank and all branches both inside and outside the country.
Savings products currently varies widely after pakto 27, 1988. This happens because the banks are given the freedom to conduct their own savings. Besides the intense competition between banks in raising money through savings mobilization caused banks to create the kind of forced savings programs in addition to the more varied and interest rates are quite attractive prizes. The cost of funds derived from these savings can be classified as relatively expensive funds. Higher than giro service but less than the combined deposits. Combined calculation of these savings fund sources can be done based on the daily balance, average balance or the lowest balance of the savings.
Customers who want to take advantage of these savings in addition to the facility has a current account should also open a savings account at the same bank. This facility enables customers to enjoy higher rates of interest earned on savings accounts while still utilizing gironya. The mechanism of this product is done by every customer to be included as deposits deposits to savings accounts, while at the customer's interest or bilyet giro check and balance if it is found insufficient, then the respective bank can transfer from savings to checking account customers who previously had memberika authorizes the bank to transfer from savings accounts to checking accounts as needed to satisfy the lack of withdrawal.
4. Deposits
Is the withdrawal of savings can only be done at a certain time by agreement with the depository bank customers. This heading consists of time deposits, deposits on call, certificates of deposit and other similar deposits, which are stored in the bank and all branches both inside and outside the country. These deposits in rupiah and in the foreign exchange owned by third parties that withdrawal can be done by a certain time period in accordance with the agreement between the bank with customers.
This funding source has a key feature of the period is fixed, therefore, often referred to as fixed deposits generally have a maturity period of 1 month, 3 months, 6 months, 12 months, 24 months. These deposits can be withdrawn only at maturity by the party whose name is listed in bilyet deposits. Therefore, the savings deposits in the name. Further deposits are withdrawn by the depositors before the expiration period as has been agreed, the bank wearing a penalty to the rights of depositors and interest income are not counted by the bank for these deposits. To ease customers in the extension of time deposits, the bank provides the facility period giving automatic or automated rollover. An extension is valid for new deposits. To make it easier and profitable customers, depositors usually open savings accounts for example, savings in the bank concerned. And so on until the depositors decided to extend the deposit again. But for banks that want the interest transferred to another account and the interest is not taken, then the deposit rates may increase the principal amount of customer deposits.
Side bank, the source of funds is deposits of funds are classified as expensive compared to other funding sources. But profits for the bank is providing liquidity to the needs of these withdrawals can be predicted almost as accurately. These types of deposits as preferred by customers because they offer interest rates relatively higher than the deposits.
The amount of interest should be reduced still applicable income taxes for the final 15%.
5. Certificate of Deposit
Is the savings in the form of certificates of deposits transferable evidence of storage or deposit certificates of deposit sertificate is a proof-term deposit savings can be bought and sold. Form of savings is not so popular among the banks. Therefore, the banking funds sourced from this type of smaller amounts than other funding sources. These savings banks require permission in advance from the BI to banks that will issue certificates of deposit. But since pakto 27, 1998 that any bank can issue a certificate of deposit as an instrument association funds without permission from the BI, simply by telling it.
Characteristics of the certificates of deposit are as follows:
(Published by fiat in the bank specified time.
(Can be traded.
(It is a money market instruments.
(Interest paid in advance.
(Can be used as collateral.
6. Securities issued
Type liabilities position in this post are securities issued by banks that caused the obligation to pay for the banks in question both in rupiah and foreign currencies. Issued securities may include debt pengkuan letter or promissory note, money orders, and bonds.
7. Loans Received
Is all the loans received by banks including the Central Bank liabilities in the form of liquidity credit, discount facilities, and loans from other banks. In the world of banking cooperation are common in various forms such as providing assistance in the form of expert assistance (consultant) or in the form of working capital / capital. Financial aid is typically given as a course in the sense pinjamai short term, and medium-term. (For a maximum period of 7 days we call the call money, while those without a time limit in the sense that every moment can be captured by the first notice we call deposits on call. Loan borrowing is a common provision of bank loans into banks kua relatively weaker , such as government banks to the National Private Banks or foreign banks to the National Private Bank.
8. Subordinated Debt
Is obtained loans from related parties or from banks and other parties who meet certain requirements, such as the withdrawal period requirements / reimbursement in accordance with the provisions of Bank Indonesia
9. Other liabilities
This heading teridiri from other liabilities account balances, both in rupiah and foreign currencies that can not be incorporated into other posts. An example is the interest to be paid, tax bills and other obligations.
10. Capital
Equity or own capital also called consisting of:
™ for the bank's paid up capital of the Indonesian legal entities, in the form of capital or principal and compulsory deposits (for cooperatives) who actually had paid, namely the difference between the capital with a capital base that has not been paid. Capital in deposit for foreign bank branches, a net fund the headquarters and branch offices abroad. Net Fund is a difference between the balance of investment and the central office or branch offices abroad in branch offices in Indonesia with Kantar-investment balance of branch offices in Indonesia.
™ agio shares, in the form of excess capital deposits received by banks as a result of the stock price melibihi nominal value.
™ reserves, reserves of which is formed from the allowance for profit or net profit after deducting taxes, and owner approval or general meeting of shareholders meeting Arau founding member of the provisions or articles of association of each bank.
™ Capital contributions, capital contributions from other parties.
™ Difference in the financial statements
™ Difference in revaluation of fixed assets, the difference between the actual value of fixed assets and the value that has been recorded.
™ Profit-loss securities Unrealized
™ other comprehensive income
Capital Bank as a number of funds invested in various types of business (venture) the relevant banking. The bank's capital consists of own capital is sometimes referred to as "equity capital" (equity capital) is the investment made by the limited company of a bank. Whereas the second group is the senior capital (senior capital) is the bank's capital obtained from sale of bonds (bonds) and preferred stock (preferred stock): bonds were the papers term debt of more than a year and a particular interest simplex issued by private banks or state banks. The second is the preferred stock is stock that gives many the right to receive dividends or the profits which are distributed by banks and the property at the time of the dissolution of the corporation in advance of the ordinary shares.
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