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    2025.1.MAPB02 402.1A.qho14ZbNRi

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    Rizal Zaki Ramadhan

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    2025.1.MAPB02 402.1A.qho14ZbNRi

    Uploaded by

    Rizal Zaki Ramadhan
    1 views16 pages

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    1 views16 pages

    2025.1.MAPB02 402.1A.qho14ZbNRi

    Uploaded by

    Rizal Zaki Ramadhan

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 16

    NAMAROSALINA, SE.

    , MAk
    DOSEN& EKSTERNAL AUDITING
    INTERNAL
    MATA
    KULIAH
    TUJUAN PEMBELAJARAN SESI 1

    1. Mengetahui perbedaan antara akuntansi


    manajemen dan akuntansi keuangan (Perbedaan-
    perbedaan pemakai laporan internal dan laporan
    eksternal, regulasinya, dan tipe laporan)
    2. Mengetahui Peran akuntan dalam mengelola
    operasional usaha
    3. Memahami Peran internal audit/auditor
    4. Memahami external audit/auditor
    5. Mengetahui perbedaan internal audit dan external
    audit
    Difference between Management Accounting and Financial Accounting
    Items Management Accounting (Unit 3) Financial Accounting (Unit 4)

    1.Users Chief Executive Officer (CEO), Board of Directors Shareholders, Lenders, Creditors, Employees, Govt. Agencies,
    of reports (BOD), Managerial Employees – General Managers ( Customers, Potential Investors, Non- Managerial Employees
    GM), Branch / Department Managers , Board of
    Directors

    (Internal Users) (External Users)

    2.Types Special purpose reports (internal reports) for General purpose financial statements (GPFS-external reports)
    of reports internal users for external users

    a) Budgets- Master Budget a) Statement of Comprehensive Income


    i.Operating budgets- sales budget, production budget b) Statement of Financial Position
    (number of products to be manufactured), raw
    materials budget, direct labour cost budget, cost of
    sales budget, other expenses budget, IS budget
    c) Statement of Changes in Equity

    ii.Financial budgets-Cash budget, Statement of d) Statement of Cash Flows


    Financial Position (SOFP) budget

    iii.Capital expenditure (Capex) budget

    b) Costing reports – Cost of production reports, Job


    costing reports

    c) Performance Control Reports/Variance Analysis

    Do not have to comply with accounting standards Compliance with regulatory authorities (AASB, ATO, ASIC
    and ASX) and accounting standards (AAS), the Framework
    Regulations and Corporation Act 2001.
    Difference between Management Accounting and Financial Accounting

    Items Management Accounting (Unit 3) Financial Accounting (Unit 4)

    Frequency of reports as per required by the Income tax laws and AAS require statements
    3.Frequency management. It can be daily, weekly or at end of accounting period/year, or may be
    of reports and monthly. produced quarterly.
    purpose To provide timely information for decision
    making which involves activities such as
    planning, coordinating ( implementation of
    plans) and controlling (comparing planned
    with actual results).

    Use past, current data and future estimates Historical (past) and verifiable public data
    4.Nature of data
    information
    LET’S IDENTIFY! INTERNAL OR EXTERNAL USERS?

    Users of Accounting Information


    LET’S IDENTIFY! INTERNAL OR EXTERNAL USERS?

    Users of Accounting
    Information
    LET’S IDENTIFY! INTERNAL OR EXTERNAL USERS?

    Users of Accounting Information


    FINANCIAL STATEMENTS IN RED? What
    does it mean?
    TYPES OF REPORTS
    General Purpose Financial Statements –External Reports
    •Statement of Comprehensive Income (SOCI)
    •Statement of financial position (SOFP)
    (Balance Sheet)
    •Statement of Cash Flows (SOCF)
    •Statement of Changes in Equity (SOCE)
    SPECIAL PURPOSE FINANCIAL STATEMENTS

    Special Purpose Financial Statements –Internal Reports


    •Budget
    •Costing
    •Performance Control Reports
    Role of Accountant

    • To provide financial information to


    management for them to make
    financial decisions with the scarce
    resources the company has.
    3. Analyse and interpret reports for
    decision-making.
    •External report- e.g. SOCI to decide to reduce
    1. Manage Financial Data expenses of the company (e.g advertising or
    promotional expense, find a better supplier to
    • By designing the collection of financial
    reduce cost of sales)
    data.
    •Internal report- e.g costing- to decide on how
    • Establishing and maintaining policies
    many units to produce in order for the company to
    and procedures (internal control
    break-even ( no profit or loss)
    systems) of the financial data through
    manual or using accounting information
    systems
    FUNCTION OF AN
    ACCOUNTANT

    2. Prepare and Communicate 4. Comply with reporting


    Reports To Users requirement
    •Internal report- assist in internal audit of the
    •Prepare to external users- financial
    company
    statements- SOCI, SOFP, SOCF and SOCE
    •External report-assist in day to day tax issues
    •Prepare to internal users- budgets, costing
    and prepare income tax return as well as
    and variance analysis and performance
    minimize the tax liability of the company
    reports

    5. Supervise the book-keeper who is in


    charged of recording of Day to Day
    Business Transactions
    AUDITING
    Internal & External
    Relationship between Management, Shareholders/Stakeholders
    and External Auditor
    Shareholders and other
    Stakeholders*
    Board of Directors
    Represented by the Prepares the financial
    accountant statements

    Gives an
    independent
    review of the
    financial
    statements

    External Auditor
    *stakeholders include suppliers, customers, employees, government agencies,
    Aspect
    Internal Audit External Audit
    a) To publicly express an opinion on the true and fair view of
    Aim of a) Continuous review to ensure the financial position and performance of the company by
    the policies and procedures (internal reviewing the financial statements.
    audit control systems) and laws are b) To examine that the accounting records are complete,
    (Role) followed. accurate and maintain properly according to accounting
    standards, Corporations Act 2001 and the Framework.
    Therefore, in order to do that external auditor must have
    e.g review the efficiency of internal access to all the company’s financial records and relevant
    persons.
    control system to safeguard assets,
    review the efficiency of supply chain- c) To report to Australian Securities and Investment
    Commission (ASIC) on significant suspected violations of
    to ensure the procedures are Corporation Act 2001 : i) The company is trading while
    followed in terms of buying and insolvent ii) Violation of accounting standards iii)
    Fraudulent conduct by directors, secretary or employees of
    selling of inventory the company iv) Not assisting the auditor's work

    b)Identification of deficiencies by
    testing the internal control systems
    and identification of errors in order
    for recommendation for
    improvement.
    An external auditor who is NOT an employee of the business.
    Done An internal auditor who is an Appointed by shareholders at AGM.
    by employee of the business who is To preserve independence must followed the “ 5/7 rule”- after 5
    years of successive role as external auditor must stop for at least
    appointed by the management 2 successive years.

    And need to be qualified accountant or from the firm of public


    accountants. Must be Registered Company Auditors (RCA) by
    Aspect
    Internal Audit External Audit
    Users of the Submitted to the External Users- audit report in the
    report management( internal user) annual report

    Legal Discretionary (Not compulsory Public companies and large


    Requirement by nature) proprietary companies’ legal
    requirement

    Relationship Complementary relationship Complementary relationship


    between
    internal audit Internal audit meet with External auditor will review the quality
    and external external audit to ensure the o the work of the internal auditor and
    audit company is meeting the this may results in reducing amount of
    requirement of external time spending on auditing the
    regulators company.
    summary
    1. Difference between management accounting
    and financial accounting.(Differences between
    internal and external reporting- users,
    regulations, types of reports)
    2. Roles of an accountant in a managing a
    business operation
    3. Role of an internal audit/auditor
    4. Role of an external audit/auditor
    5. Difference between internal audit and external
    audit

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