Jumat, 16 September 2011

mahasiswa semester akhir

yak! sekarang aku sudah menjadi mahasiswa dengan angkatan tertua dikampus (dalam kuliah normal loh ya, yang masih angkatan tua si masih banyak sebenarnya *ups :p ). yang ada dalam pikiran adalah skripsi skripsi dan skripsi. eh ngajuin ouline dulu sih..ngajuin 3 outline, wawancara outline, nunggu sebulan, terus deh dapet keputusan judul yang mana yang mau dijadiin skripsi.
sekarang kuliahnya cuma ambil 2 mata kuliah dan dua-duanya itu hari senin. jadi deh sisa 6 hari nya aku manfaatin buat baca-baca skripsi di perpustakaan, baca-baca jurnal, searching-searching dan lain-lain yang berkaitan dengan skripsi gitu deh.
tapi sampai sekarang sodara-sodari, aku belum kepikiran mau skripsinya tentang apa!oemjiiiiiii..hmmhh
pikiranku masih kebagi juga sih, soalnya aku mau ikut event namanya tuh Indonesia Model United Nations (IMUN) 2011. Jadi tuh acaranya simulasi sidang konferensi PBB gitu..pesertanya mahasiswa Indonesia dan juga luar Indonesia kaya Malaysia, Singapore, Kamboja, dan lain-lain yang deketan ama Indonesia. Sebenarnya ini lahannya anak HI sih mengenai International Relations gitu. Tapi ga ada salahnya kan, kalo aku anak akuntansi juga pengin tau dan punya pengalaman tentang hubungan international :) Event itu mau diadain tanggal 2-5 oktober nanti di UI Depok. Dan aku berencana buat nginep di rumahnya Mba-ku, kan rumahnya di Depok juga. Oh ya, aku ketrima di committee GA SOCHUM (General Assembly - Social Culture Humanitarian) itu tuh yang ngebahas tentang sosial budaya dan kemanusiaan. Di event itu aku jadi delegasi dari Perancis, yaa jadi harus rajin searching2 tentang negara perancis sampe sedalem-dalemnya :p . jadi kalo lagi baca ini, kepikiran yang itu..lagi baca itu,kepikiran yang ini .. fufufu

mohon doanya aja yaa,biar semuanya lancar dan dipermudah. amiinn :)

Selasa, 02 Agustus 2011


ini aku buat pada hari rabu 3 agustus 2011 sekitar pukul 10.30 am di tempat kkn-ku di desa sidayu, kecamatan gombong, kabupaten kebumen.
hari ini merupakan hari ke-17 kkn-ku yang nantinya akan berakhir sampai dengan hari ke-35 yaitu tanggal 21 agustus 2011.
sebelum aku cerita panjang lebar mengenai apa saja pengalaman yang aku dapet sampai hari ini dan kegiatan yang akan aku lakukan selama 18 hari kedepan, mari aku perkenalkan terlebih dahulu teman-teman sekelompokku dimana kita tinggal dalam satu atap, bertatap muka setiap hari setiap jam setiap detik sampai dengan hari ke-35 nanti.
  1. Kukuh Sepri H dari fakultas sains dan teknik (teknik geologi)
  2. Wangsit Ratri dari fakultas MIPA (matematika)
  3. Sekar Wahyuningrum dari fakultas pertanian (sosiotekno)
  4. Prilia Rahayu dari fakultas ekonomi (ilmu ekonomi studi pembangunan)
  5. Catur Haryati dari fakultas ekonomi (akuntansi)
  6. Sandro Agustin dari fakultas hukum
  7. Toti Rahayu dari fakultas ilmu sosial dan ilmu politik (komunikasi)
  8. Indah Amalia dari fakultas kedokteran (dokter umum)

Kamis, 05 Mei 2011

This paper was made by me and also two of my teammate. They are Fredi Dharmawan (International Accounting '08) and Yanuar Nugroho (International Accounting '07) when we join in IAPA (INTERNATIONAL ACCOUNTING PAPER AWARD) 2011 :)


IAPA Gadjah Mada Accounting Days 2011

ACCOUNTANT AMIDST GLOBAL ECONOMIC CRISIS

By:

YANUAR NUGROHO

CATUR HARYATI

FREDI DHARMAWAN

( Jenderal Soedirman University )


CHAPTER I

OVERVIEW SECTION

Financial disaster struck the super power country , United States of America. Several world-class banks that have been scattered over the world, have been bankrupt. Starting from the bankruptcy of Lehman Brothers, the giant banks and giant financial firm like Bear Stearns. Moments earlier, U.S. government forced
take over the largest mortgage companies in America; Freddie Mac and Fannie Mae, while Merrill Lynch was not different to others, until Merril Lynch was acquired by Bank of America
(Yost, 2008). The largest insurance company, AIG (American International Group) showed the same critical phenomenon. To overcome this great crisis and save giant banks that collapsed, U.S. government was forced to bailout $ 700 billion dollars to 1 trillion U.S. dollars. Interventions of USA government against the financial sector was a policy that contradicts with capitalism principle which adopted by government of USA itself. In fact, that injection of funds which similar with BLBI, it had no significant effect to overcome crisis. This bailout policy, not only done by USA government, but also European and Asian central banks intervened to inject funds to boost liquidity in the economy, which is expected to prevent the domino effect of collapse of world class of investment banks.

After Lehman Brothers got bankrupt, world's financial markets did free fall in the lowest level. Several major banks and many other investment banks collapsed in the United States. It immediately triggered panic in various financial centers worldwide. Capital markets in the United States, Europe and Asia got panic that finally caused collapse of the stock price index in each market. Stock markets freefall into the abyss. While the bond market slumped, currency of developing countries weakened and commodity prices fell, especially after the oil commodity speculators judged that the economic recession will reduce energy consumption of the world.

In the U.S., Wall Street got into slumped. Dow Jones as the epicenter of world capital markets fell down. Dow Jones index showed the worst figures in the last four years which was under the number 10,000. In order to anticipate financial crisis, seven central banks (including the U.S. Federal Reserve, European Central Bank, Bank of England and Bank of Canada) cut 0.5% of interest rate. This was the first time ever that central bank's interest rate policy conducted simultaneously in large scale.

Based on the facts and realities that happened today, it was obvious that the dramatic deterioration of the financial crisis are in very low level. The impact of the current crisis of global finance feel so bad.

From the shelf above, the economic figures expected to be able to overcome the problem of global crisis. So did the accountants. Because it is in part of global crisis problem. The accountants are required to contribute in solving the problem and prevent another crisis.


CHAPTER II

CONTENT

A. Causes of last global crisis :

1. Subprime mortgage in housing sector

The financial crisis in 2008 is of such epic proportions that even astronomical amounts spent to address the problem have so far been insufficient to resolve the it. Besides the well-publicized $700 billion approved by Congress, the Federal Reserve has attempted to bail out institutions and markets with about $1.3 trillion in investments in various risky assets, including loans to otherwise bankrupt institutions and collateralized debt obligations like those backed by subprime mortgages that are defaulting at rapid rates (Morris, 2008).

The word "mortgage" comes from a legal term in French. That's a little bit different from house loans. In a mortgage, a person gets credit, and then he has a house. The house was on leave to the parties who provide credit. A person may occupy during the mortgage is not repaid. Because the house was not proprietary, if mortgage payments is bad, that house cannot be occupied anymore and people must go from the house itself.

The investment banking (a similar company of the Bank, because these firms receive various kinds of deposits, but are not bound by the rules of banking) was so aggressive. In the past, only qualified persons (prime) who could get a mortgage, but now less qualified persons(sub-prime) are stimulated to ask for a mortgage. In USA, everyone has a rating. High-low rating is determined by the size of the income and least wasteful lifestyle. People who called the prime is a ratings 600 and above. Every year people can estimate about their own ratings go up or down. If it reaches 600, they may aspire to have a home through mortgage. If not 600, they must try to reach 600.

On the other hand, employers want the company to grow bigger and get higher profit. Then the market was inflated. People who actually had 500 rating, had been offered mortgages that actually it couldn’t be done. Company assume if payments was bad, the house could be confiscated. After the house was confiscated, it can be sold in higher price than the value of the loan but they never think about the long term.

In less than ten years, failure of mortgage payments immediately became skyrocket. The number of confiscated house was so numerous. Number of houses sold were growing dramatically, then it spurred a falling house prices to the lowest level.

By the decline in home prices that were not appropriate with value of loans that caused failure in credit payment, bank or investment banking that gave mortgages, guaranteed to banks or other investment banking, then they also guaranteed to anothers. So after the credit payment was bad then all guarantor institutions collapsed in a sequence like dominoes.

Lehman Brothers, Bear Stern, Merrill Lynch and many more are the types of investment banking. With their freedom, they could be more aggressive. They can give a loan without any restriction provisions. They can buy the company and sell it at any time. If money is not enough, they could borrow to anyone : to other banks or to another investment banking or also to the rich people who have a lot of money with the term "personal banking". This freedom has dragged them into bankruptcy.

The crisis was happened because companies were too confident in lending, particularly in the housing sector. Even persons / entities who had a bad reputation , they still could get credit. Finally, it caused massive credit flowing to improper people. This, of course will spur the emergence of bad debts. The occurrence of bad debt in the housing sector (sub-prime mortgage) which dragged the bad debt at banks and it forced FED (Central Bank of the United States) to made lower interest rates to 2%. The crisis that occurred in early 2008 spurred the increase in world crude oil prices reaching record highs in May amounted to 147 USD / barrel.

However, the crisis was not over yet. Rising crude oil prices make the business world declining consumer purchasing ability, thus causing doubts and market uncertainty. Housing credit crisis was finally destroy two big name companies in the financial sector, Merrill Lynch and Lehman Brothers. Share prices on the USA stock market (Wall Street) and world were on the decline and begin to trigger a crisis which affects the collapse of investment banks and insurance company. It made Government of the USA realized that this crisis cannot be dammed, and the U.S. Congress approved the requested $ 700 billion bailout to help the financial sector. A further $900 billion is being proposed in lending to large corporations (Aversa, 2008), making a total of nearly $3 trillion in bailout money so far, without even counting the massive sum of corporate debts guaranteed by the U.S. government in the last year.

2. Overconfidence in lending

Because too confident in lending, particularly in the housing sector so that the person / entity who has a bad reputation that it still get the credit that caused massive credit flowing to its creditors who have any problem. This of course will spur the emergence of bad debts. The occurrence of non-performing loans in the housing sector (sub-prime mortgage) which dragged the bad loans at banks and forcing the FED (Central Bank of the United States) to lower interest rates to 2%. The crisis that occurred in early 2008 spurred the increase in world crude oil prices reaching record highs in May amounted to 147 USD / barrel.

However, the crisis is not over. Rising crude oil prices make the business world declining consumer purchasing power, thus causing doubts and market uncertainty. Housing credit crunch is finally bulldozing two big name companies in the financial sector, Merrill Lynch and Lehman Brothers. Share prices on the USA stock market (Wall Street) and the world are on the decline and begin to trigger a crisis which affects the collapse of investment banks and insurance company’s world. It was then that the Government of the USA realizes that this crisis cannot be dammed, and the U.S. Congress approved the requested $ 700 billion bailout to help the financial sector. However, the move was too late because of panic in the stock market has hit the entire world.

B. Accountant's role in global crisis

Accountants were instrumental in improving transparency and accountability in the economy of a country. Accountant has important role to repair the financial system that involves various aspects:

1. Towards a system of accrual accounting and budgeting for the express rights and obligations of contingency and performance-based long-term planning;

2. Realizing the financial accounting system that integrated state (TSA-Treasury Single Account);

3. Using a system that integrates computer technology applications;

4. Conduct an inventory and revaluation of assets and debts the state;

5. Improving quality assurance by the internal auditor;

6. Improving the quality of human resources (HR) in the field of accounting and financial management of the state;

7. Encourage transparency (transparency) and integrity (integrity) in financial reporting (financial reporting) company;

8. Encourage accountability (accountability) in the asset management company.

9. Encourage accountability (responsibility) to public companies through the Corporate Social Responsibility / CSR, community development or Partnership & Community Development (CSR);

10. Encourage independence (independency) of the company against the relevant parties, including minority shareholders;

11. Encourage fairness (fairness) in the procurement of goods & services, including ensuring universal no violation of the anti-monopoly law and fair business competition.

C. Accountant`s role to prevent a crisis happening again in the future.

Accountant association can give formal recommendation to government for nationalizing the depository institutions of the failed corporate holding companies, and simply let the holding companies and all other failed institutions go bankrupt and default on their credit default swaps. The nationalized banks could then go back to making loans as they did in the old days, having real human beings make credit granting decisions. In addition, nationalized banks could choose to take controlling equity positions in borrowing companies in default on their loans and effectively nationalize them in order to enable them to continue to operate (and maintain some production and employment) if they have some chance of recovery (Murphy, 2009)).

The cost of this policy to taxpayers might be rather small, especially since most of the losses on the defaulting credit default swaps would then either be offsetting or be incurred by investors like hedge funds. In addition, given that the current massive rescue operations don’t seem to be successful in averting an economic downturn, it is unclear the need to rescue many of the failed financial institutions.

Another policy that might enhance profitability and help reverse the ongoing economic decline would be to have cases of defaults on secured consumer loans (such as for autos or homes) result in possible renegotiation of both the loan terms and the collateral in a unique way (Murphy, 2008).

Accountants are part of the financial system management processor. The process of the correct course would result in proper financial reporting. Therefore, countries accounting executive who has a healthy and strong will result in a country that has a good economy as well. Some accounting principles must be implemented by the accountant in order to prevent a global crisis, as follows:

  1. Accountability

Results-oriented accountability.

This is the basis for the application of performance-based budgeting. That is, the accountability of State Finance will be the performance of what has been achieved by the Government in passing the state budget funds / budget. If no performance is achieved then not be penny-State money was spent.

  1. Professionalism.

Because state money is public money that should be the maximum value (value for money) for the welfare of the community, not just the welfare of the State apparatus. Therefore, the management of State Finance to be managed professionally. Implementation of financial accounting system should really be applied either to the state budget and local budget.

  1. Transparency in the management of State finances.

People's right to know where and to what the State budget is spent. In the State Financial accountability, the public should be given the right to know the State Financial accountability made by the State or region. At a minimum, the Government Accountability Reports should be published so that people can assess this accountability.

  1. Audits by agency inspectors a free and independent.
  2. State Finances are managed in an orderly manner; abide by laws and regulations, efficient, economical, effective, transparent and accountable with respect to a sense of fairness and decency.

CHAPTER III

CONCLUSION SECTION

The economic crisis that hit the United States occurs due to breakdown of property loans (subprime mortgage), a kind of mortgage loans (mortgage) in Indonesia. This was followed by a collapse of financial institutions in the United States.

Here are a few conclusions can be drawn:

1. The global crisis has dragged the impact to all countries, including Indonesia although on different scales. Although the subprime mortgage crisis that is the beginning of the creation of crisis, but the actual amount is relatively small compared to the overall losses, which in turn experienced by the economy as a whole. Large losses that occur in fact sourced from the practice of packaging subprime mortgages into various forms of other securities, which later traded on global financial markets.

2. In order to face global crisis, the accountant does not just sit on my hands just to be spectators, but are expected to participate actively participate as a profession that can help management to promote the establishment of an effective organization in the company's financial system. So the company is able to reduce the adverse impact caused a global crisis.

3. Given the global financial crisis is very bad impact on financial stability and crisis countries this can happen anytime and anywhere, then the accountant is expected to implement prevention in order not to happen again with accounting measures such as promoting corporate accountability, transparency, audit, and others.


SUB REFERENCE PAGE

A. Murphy. 2009. ”An Analysis of the Financial Crisis of 2008: Causes and Solutions”. Journal of Accounting Research.

C. Morris. 2008. “Fed's $1.6 Trillon Bet: The $700-Billion Wall Street Bailout Was Only the Half of It.” Washington Independent (October 14, 2008).

Departemen Keuangan, 2008. “Memahami Krisis Keuangan Global”. Jakarta. Ikatan Akuntansi Indonesia. 2009. “Akuntan Indonesia Mitra dalam Perubahan”. http://www.iaiglobal.or.id/data/referensi/ai_edisi_20.pdf, accessed on March 28th, 2011.

J. Aversa. 2008. “Fed Eyes Plan to Fund Short-Term Business Loans.” Associated Press (October 7, 2008).

Mudrajad. 2008. “Memahami Krisis Keuangan Global”. http://mudrajad.com/upload/memahami%20krisis%20global.pdf, accessed on March 28th, 2011.

Silfisufiyah. 2011. “Peran Auditor menghadapi Krisis Finansial Global”. http: //silfisulfiyah.blogspot.com/2011/01/peran-auditor-internal menghadapi. html. accessed on March 29th, 2011.

Yost. 2008. “AP IMPACT: Mortgage Firm Arranged Stealth Impact.” Associated Press (October 20, 2008).



Minggu, 13 Maret 2011


today is my sista's wedding party. her name is khomsiatun, and we call her atun. actally she is not my sibling, just my cousin :)
and today would be a great day for them.
hmmmm i look bigger than the bride itself anyway. lol.
congratulation atuuuunnn :)
be a great wife yaa.

Minggu, 06 Maret 2011

love this scenery :)
ini di depan rumahnya cikom lhoo haha :D
bagus banget deh pemandangannyaaaa..

from left : dodo and his child, rani (istrinya dodo), uus, tari, akuu :)
ini di depan rumahnya cikom.. take picture dulu sebelum pulang..
from left : cikom (si calon penganten), tari, elli, aku, uus ..