Naskah Soal MID MKU BING AKT-A-Inter-2021
Naskah Soal MID MKU BING AKT-A-Inter-2021
Naskah Soal MID MKU BING AKT-A-Inter-2021
Instruksi!
1. Mulailah dengan berdo’a
2. Bacalah petunjuk soal dengan baik
3. Unggah jawaban pada E-Learning
Petunjuk!
Read the following text carefully! Then answer the questions number 1-5
Types of Accounting
By McGraw Hill
There are five types of accounting. Financial accounting provides information to decision
makers who are external to the business. To understand the role of financial accounting, consider a
large corporation such as IBM. The owners of corporations are called shareholders, and IBM has
more than 600,000 shareholders. Obviously, each shareholder cannot participate directly in the
running of IBM, and because IBM needs to maintain various trade secrets, its many thousands of
shareholders are not permitted access to much of the firm’s information. Because of this, shareholders
delegate most of their decision making power to the corporation’s board of directors and officers.
Exhibit 1-2 contains an organizational chart for a typical corporation. Shareholders, however, need
information to evaluate (1) the performance of the business and (2) the advisability of retaining their
investment in the business. Financial accounting provides some of the information for this purpose;
such information is also used by potential share holders who are considering an investment in the
business. Creditors and potential creditors are also served by financial accounting. Firms of ten seek
loans from banks, insurance companies, and other lenders. Although creditors are not internal parties
of those firms, they need information about them so that funds are loaned only to credit-worthy
organizations. Financial accounting will usually provide at least some of the information needed by
these decision makers.
Managerial accounting has numerous decisions. These include (1) whether to build a new plant,
(2) how much to spend for advertising, research, and development, (3) whether to lease or buy
equipment and facilities, (4) whether to manufacture or buy component parts for inventory
production, or (5) whether to sell a certain product. Managerial accounting provides information for
these decisions. This information is usually more detailed and more tailor-made to decision making
than financial accounting information. It is also proprietary; that is, the information is not disclosed
to parties outside the firm. Sterling Collision Centers, Inc. provides a good illustration of managerial
accounting at work. Although Sterling only has 18 shops, it hopes to put a major dent in the
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automotive body shop business through aggressive expansion and the introduction of innovative
management techniques. One of its strategies is to use computers to better track repair times, which
will provide both standards for different types of repair jobs as well as measures of how individual
workers perform relative to the standards. By tying pay to performance, Sterling hopes to improve
worker productivity. Knowledge of repair times will also help Sterling to determine estimated bids
for its repair jobs. Managerial accountants play a major role in all these activities. Although
distinguishing between financial and managerial accounting is convenient, the distinction is
somewhat blurred. For example, financial accounting provides information about the performance of
a firm to outsiders. Because this information is essentially a performance report on management,
managers are appropriately interested in and influenced by financial accounting information.
Accordingly, the distinction between financial and managerial accounting depends on who is the
primary user of the information.
Tax accounting encompasses two related functions: tax compliance and tax planning. Tax
compliance refers to the calculation of a firm’s tax liability. This process entails the completion of
sometimes lengthy and complex tax forms. Tax compliance takes place after a year’s transactions
have been completed. In contrast, tax planning takes place before the fact. A business transaction can
be structured in a variety of ways; a car can be purchased by securing a loan, for example, or it can
be leased from the dealer. The structure of a transaction determines its tax consequences. A major
responsibility of tax accountants is to provide advice about the tax effects of a transaction’s various
forms. Although this activity may seem to be an element of managerial accounting, it is separately
classified due to the necessary specialized tax knowledge.
Accounting information systems are the processes and procedures required to generate
accounting information. These include 1. identifying the information desired by the ultimate user, 2.
developing the documents (such as sales invoices) to record the necessary data, 3. assigning
responsibilities to specific positions in the firm, and 4. applying computer technology to summarize
the recorded data. Another type of accounting deals with nonbusiness organizations. These
organizations do not attempt to earn a profit and have no owners. They exist to fulfill the needs of
certain groups of individuals. Nonbusiness organizations include 1. hospitals, 2. colleges and
universities, 3. Churches, 4. the federal, state, and local governments, 5. many other organizations
such as museums, volunteer fire departments, and disaster relief agencies. Nonbusiness organizations
have a need for all the types of accounting we have just reviewed. For example, a volunteer fire
department might need to borrow money to purchase a new fire truck. Its banker would then require
financial accounting information to make the lending decision. Nonbusiness organizations are
fundamentally different from profit-oriented firms: They have no owners and they do not attempt to
earn a profit. Because of this, the analysis of the financial performance of business and nonbusiness
organizations is considerably different. This text addresses only business organizations. Most
colleges and universities offer an entire course devoted to the accounting requirements of non
business organizations.
- Good Luck –