The implementation of International Financial Reporting Standards (IFRS) in Indonesia has not been fully conducted by Indonesian companies due to the minimal awareness and lack of confidence of Indonesian businessmen.
Binus International, through its International Accounting and Finance department, prepares its students in facing the implementation of international accounting standards. Therefore, on October 31, IAF invited an international guest lecturer, Dr. Rodiel Ferrer of the Philippines’ De La Salle University.
In the seminar, the IFRS application and accounting expert gave a lecture to twenty-five IAF students. Dr. Ferrer explained about IFRS in general as well as their application within a business entity.
The first part of the seminar was a lecture given for the students while the second part was knowledge sharing for IAF lecturers. Dr. Ferrer explained about the application of IFRS in major, medium-level and minor businesses. This topic was important because it was rarely discussed at university-level, since many universities focus their study of IFRS on big companies. Indonesia is currently experiencing a growth in the number of small and mid-level businesses. IFRS are the answer for small and medium-level companies to participate in the competitiveness of the global business world.
Dewi Fitirasari, Head of School of Accounting & Finance, said that Dr. Ferrer’s presence was a very valuable moment since Dr. Ferrer is an expert in IFRS. “Aside from being a part of the Advanced Accounting I course, I hope that the students can get a different perspective about Financial Accounting, especially its research. IAF also plans to cooperate with De La Salle Manila in research and faculty exchange programs,” she said. (RAW)
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