IFRS

Another benefit of the convergence of IFRS into the IAS, which facilitate the understanding of financial statements by the use of financial accounting standards are internationally known.
Moreover, he added, the application of IFRS into the IAS also effectively lower the cost of capital by opening a "fund raising" through the global capital markets.
When Indonesia was later fully adopt IFRS, he estimates the quality of financial reporting information in this country will increase, including the quality of financial reports of State-Owned Enterprises (SOEs).
He mentioned, the Financial Accounting Standards Board of Accountants Association of Indonesia (DSAK-IAI) has initiated the process of convergence since 2009 and is expected to be completed before early 2012.
IFRS convergence target in 2012 is revised IAS that are materially in accordance with IFRS version of January 1, 2009 which became effective January 1, 2012.
"IFRS is not just changing the way companies create financial statements, but also change how the company does business," he explained.
To menyahuti demands IFRS convergence to the SFAS is absolutely necessary in readiness of practitioners, among others, management accountants, public accountants, accountants, academics and readiness of regulators and other supporting professions, such as appraisers and actuaries.
According to him, the application of IAS-based IFRS will have a major impact to the business world, especially on the side of the company's policy-making based on accounting data.
Besides the impact on accounting and financial reporting firm, he said, konvegensi IFRS also have an impact on enterprise information systems technology, human resources involved in the company and the impact on the company's organizational system.
To expedite the process of adoption of SFAS, continued Ersa, the success of the transition period is the key.
Associated with changes in financial accounting standards, he said, effective steps that need to be firm during the transition period is to establish the convergence of IFRS adhoc team that is responsible for initial preparation and organizing resources.
"Successful application of international accounting standards in a country, can not be separated from the role of capital markets, taxation and other regulatory authorities," said Ersa.
ikatakan, IFRS has now been widely adopted SFAS number of countries in order to answer the demand of institutional investors and other users of financial statements.