Future need of globalization in business is no longer focused on the local transaction; instead, it has involved many countries so as to affect the exchange rate of rupiah against foreign currencies. As a result, diff...Future need of globalization in business is no longer focused on the local transaction; instead, it has involved many countries so as to affect the exchange rate of rupiah against foreign currencies. As a result, differences in the exchange rate will lead to foreign exchange, be it a foreign exchange gain or foreign exchange losses. Exchange rate used at the beginning of the transaction is the exchange rate on the transaction, but in Indonesian currency transactions, what is often used is the exchange rate issued by the Directorate General of Taxation （DGT）. If at the end of the period, a balance of foreign currency still exists, then it will be adjusted using a fixed rate or an exchange rate of Central Bank of Indonesia. The results showed that the treatment of foreign exchange at the fishery company was using both the exchange rate allowed in the accounting and taxation regulations in Indonesia. The balance of transactions is related to export, be it a balance of accounts receivable on the sale of the outstanding balance of exports and export freight carried at the exchange rate adjustment of Central Bank of Indonesia, subsequent transactions relating to the purchase of imports were adjusted to a fixed exchange rate, which means that the balance payable on imports will continue to use the exchange rate at the beginning of the transaction展开更多
The tax accounting and financial accounting＇ s different target, different legal basis, different accounting principles as well as the different time of recognition between incomes and expenses will result in signifi...The tax accounting and financial accounting＇ s different target, different legal basis, different accounting principles as well as the different time of recognition between incomes and expenses will result in significant differences between accounting income and taxable income. We think that drawing on the experience of the United States and other countries to establish the specialized accounting theory and methods, the implementation of tax accounting and financial accounting separation is an inevitable requirement. Whether the financial accounting and tax accounting should be separated, of which the key lies in the degree of difference and coordinability between accounting income and taxable income. We believe that from our tax system, financial system and the history and current status of the development of accounting systems perspective, it do not exist realistic necessity of the separation between the tax accounting and the financial accounting.展开更多
The present study is intended to be an analysis of the main Romanian legal provision in what concerns the impact of foreign exchange differences and potential consequences at the level of financial statements for comp...The present study is intended to be an analysis of the main Romanian legal provision in what concerns the impact of foreign exchange differences and potential consequences at the level of financial statements for companies. In Romanian legislation, the issue of the foreign exchange differences is treated at a general level： these are recognized as a profit and loss item and as a consequence, they are included in the taxable base when booked in the accounting. Our legislation does not provide for specific treatments depending on the ＇realization momenf＇ of these differences or depending on the conditions for recognizing a gain/loss from foreign exchange differences. For the unrealized exchange differences arising from the application of accounting rules on monthly assessment of foreign currency monetary items, there is not a specific event or transaction to determine income or expenditure. This monthly review depending on the National Bank of Romania [BNR] foreign exchange rate valid on the last day of the month aims to bring closer to reality the financial position of an entity. The exchange rate is a monetary policy item set by the central bank and may be influenced by various factors such as： monetary policy of the BNR; inflation target objectives and rate of exchange stabilization or reduction efforts, as is the case of BNR in the last years to fulfill EU criteria for adoption of the EURO; periodical influences of speculative capitals on the exchange rate level; economic status and especially exports and imports. However, a taxpayer should not be charged unless there is evidence of the ＂economic enrichment＂ thereof. However, this enrichment, seen as a rising economic value of the company, depends on the perspective from which is seen： the owner of the company or the tax authorities. The exchange differences impact also the value of the owners＇ equity for which a minimum level is requested under the commercial company law. In case of negative values, this triggers various risks at the level of the continuity principle or even endangers the existence of the company.展开更多
From January 1, 2010 the Portuguese system of financial accounting and reporting is based on the International Financial Reporting Standards （IFRS）. In Portugal, the taxable income of companies is derived from the a...From January 1, 2010 the Portuguese system of financial accounting and reporting is based on the International Financial Reporting Standards （IFRS）. In Portugal, the taxable income of companies is derived from the accounting profit/loss. Adjustments are made to this figure to compute the taxable income. In this paper I will highlight the accounting and tax treatment of impairment losses in tangible assets, provisions, and the fair value method, concluding that the gap between accounting and tax rules did not diminish with the new system. In every one of the mentioned topics the rules inserted in the corporate tax code are quite different from the IFRS based accounting statements. Thus, an opportunity was lost to move towards a more harmonized system of computing book and tax income as far as corporate income tax is concerned展开更多
In this paper, combined with the ＂Enterprise Accounting Standards No. eighteenth issued -- income tax＂ and ＂Enterprise Accounting Standards No. twentieth＂ -- the merger of enterprises and the State Administration ...In this paper, combined with the ＂Enterprise Accounting Standards No. eighteenth issued -- income tax＂ and ＂Enterprise Accounting Standards No. twentieth＂ -- the merger of enterprises and the State Administration of Taxation on enterprise merger business related income tax provisions of the problem of enterprise income tax, from the perspective that enterprise merger accounting is divided into the same control and the different control corresponds to the general tax treatment and special tax treatment, I compare the process of enterprises under different circumstances of income tax with an example.展开更多
文摘Future need of globalization in business is no longer focused on the local transaction; instead, it has involved many countries so as to affect the exchange rate of rupiah against foreign currencies. As a result, differences in the exchange rate will lead to foreign exchange, be it a foreign exchange gain or foreign exchange losses. Exchange rate used at the beginning of the transaction is the exchange rate on the transaction, but in Indonesian currency transactions, what is often used is the exchange rate issued by the Directorate General of Taxation （DGT）. If at the end of the period, a balance of foreign currency still exists, then it will be adjusted using a fixed rate or an exchange rate of Central Bank of Indonesia. The results showed that the treatment of foreign exchange at the fishery company was using both the exchange rate allowed in the accounting and taxation regulations in Indonesia. The balance of transactions is related to export, be it a balance of accounts receivable on the sale of the outstanding balance of exports and export freight carried at the exchange rate adjustment of Central Bank of Indonesia, subsequent transactions relating to the purchase of imports were adjusted to a fixed exchange rate, which means that the balance payable on imports will continue to use the exchange rate at the beginning of the transaction
文摘The tax accounting and financial accounting＇ s different target, different legal basis, different accounting principles as well as the different time of recognition between incomes and expenses will result in significant differences between accounting income and taxable income. We think that drawing on the experience of the United States and other countries to establish the specialized accounting theory and methods, the implementation of tax accounting and financial accounting separation is an inevitable requirement. Whether the financial accounting and tax accounting should be separated, of which the key lies in the degree of difference and coordinability between accounting income and taxable income. We believe that from our tax system, financial system and the history and current status of the development of accounting systems perspective, it do not exist realistic necessity of the separation between the tax accounting and the financial accounting.
文摘The present study is intended to be an analysis of the main Romanian legal provision in what concerns the impact of foreign exchange differences and potential consequences at the level of financial statements for companies. In Romanian legislation, the issue of the foreign exchange differences is treated at a general level： these are recognized as a profit and loss item and as a consequence, they are included in the taxable base when booked in the accounting. Our legislation does not provide for specific treatments depending on the ＇realization momenf＇ of these differences or depending on the conditions for recognizing a gain/loss from foreign exchange differences. For the unrealized exchange differences arising from the application of accounting rules on monthly assessment of foreign currency monetary items, there is not a specific event or transaction to determine income or expenditure. This monthly review depending on the National Bank of Romania [BNR] foreign exchange rate valid on the last day of the month aims to bring closer to reality the financial position of an entity. The exchange rate is a monetary policy item set by the central bank and may be influenced by various factors such as： monetary policy of the BNR; inflation target objectives and rate of exchange stabilization or reduction efforts, as is the case of BNR in the last years to fulfill EU criteria for adoption of the EURO; periodical influences of speculative capitals on the exchange rate level; economic status and especially exports and imports. However, a taxpayer should not be charged unless there is evidence of the ＂economic enrichment＂ thereof. However, this enrichment, seen as a rising economic value of the company, depends on the perspective from which is seen： the owner of the company or the tax authorities. The exchange differences impact also the value of the owners＇ equity for which a minimum level is requested under the commercial company law. In case of negative values, this triggers various risks at the level of the continuity principle or even endangers the existence of the company.
文摘From January 1, 2010 the Portuguese system of financial accounting and reporting is based on the International Financial Reporting Standards （IFRS）. In Portugal, the taxable income of companies is derived from the accounting profit/loss. Adjustments are made to this figure to compute the taxable income. In this paper I will highlight the accounting and tax treatment of impairment losses in tangible assets, provisions, and the fair value method, concluding that the gap between accounting and tax rules did not diminish with the new system. In every one of the mentioned topics the rules inserted in the corporate tax code are quite different from the IFRS based accounting statements. Thus, an opportunity was lost to move towards a more harmonized system of computing book and tax income as far as corporate income tax is concerned
文摘In this paper, combined with the ＂Enterprise Accounting Standards No. eighteenth issued -- income tax＂ and ＂Enterprise Accounting Standards No. twentieth＂ -- the merger of enterprises and the State Administration of Taxation on enterprise merger business related income tax provisions of the problem of enterprise income tax, from the perspective that enterprise merger accounting is divided into the same control and the different control corresponds to the general tax treatment and special tax treatment, I compare the process of enterprises under different circumstances of income tax with an example.
