PERCEPTION OF UNDERGRADUATE ACCOUNTING STUDENTS ABOUT THE IMPACT OF CONVERGENT INTERNATIONAL FINANCI
South East Asia Journal of Contemporary Business, Economics and Law, Vol. 13, Issue 1(August)
ISSN 2289-1560
2017
PERCEPTION OF UNDERGRADUATE ACCOUNTING STUDENTS ABOUT THE IMPACT
OF CONVERGENT INTERNATIONAL FINANCIAL REPORTING STANDARDS (CASE
STUDY ON PRIVATE UNIVERSITIES IN INDONESIA)
Redaktur Wau
ABSTRACT
This study aims to describe the perception of undergraduate accounting students through the level of knowledge, level of desire
and level of interpretation about the impact of convergent International Financial Reporting Standards (IFRS) at private
universities in Indonesia. The research was conducted by observation approach and spreading of questionnaire in 28 (twenty
eight) private universities. Data analysis technique which is used is ANOVA (Analysis of Variance). Based on ANOVA (Analysis
of Variance) test, there was no difference in the level of knowledge of undergraduate accounting students about the impact of
convergent International Financial Reporting Standards based on gender, whereas based on specialization field and the
respondents’ college origin, there was a very significant difference. It was found that there was no difference in the level of
desire of accounting students to study IFRS so that they were more understanding about the impact of convergent International
Financial Reporting Standards based on gender and specialization field, whereas based on the respondents’ college origin, there
was a very significant difference. And found no difference in the level of interpretation of accounting student about the impact
convergent of International Financial Reporting Standards based on gender and specialization field, whereas based on the
origin of universities there is a very significant difference.
Keywords: Level of Knowledge, Desire Level, Interpretation Level, Impact of convergent International Financial Reporting
Standards.
Introduction
The changing global environment that is bringing together almost all the countries of the world in a single community, which is
bridged by the development of increasingly inexpensive communication and information technology, demands transparency in
all fields. A quality financial accounting standard is one of the key infrastructures to realize such transparency. Financial
accounting standards can be likened to a mirror, where a good mirror will be able to describe the actual practical business
conditions. Therefore, the development of good financial accounting standards is highly relevant and absolutely necessary in the
present.
Companies that exist in Indonesia in preparing financial statements should be based on accounting standards, in order to produce
relevant and reliable financial statements. The accounting standards establish the rules of recognition, measurement, presentation
and disclosure in the financial statements between different companies. The Statement of Financial Accounting Standards is a
recognized and used standard in Indonesia for preparing financial statements of companies with significant public accountability.
The financial reporting began to move from the Statement of Accounting Standards to the International Financial Reporting
Standards (IFRS). Within the time frame of 2008-2012 the first convergence was made by gradually reducing the difference
between Statement of Financial Accounting Standards and International Financial Reporting Standards (IFRS), so that in the end
financial reporting of public companies will use IFRS. Then in 2012-2014 the second convergence is done for perfection
(Kartikahadi, et al, 2016),
Wahyuni and Juan (2012) argue IFRS to be a global phenomenon for now as more and more countries in the world adopt this
international accounting standard. IFRS itself has been used by more than 150 countries, including Japan, China, Canada and 27
EU Countries. At least 85 of these countries have required their financial statements using IFRS for all domestic or listed
companies listed in the capital market. Indonesia the IFRS transition is an unavoidable choice because Indonesia has become an
important part of the market and the global economy.
Convergence or adoption of IFRS not only has implications for the business world, but also has implications for the world of
accounting education, profession and financial reporting in Indonesia. Accounting high education needs to prepare graduates to
be able to understand IFRS and be able to implement IFRS-based accounting standards well. The development of global
financial reporting has implications for the need to educate students about global financial reporting (Saito, Hiratmatsu and
Mayangsari, 2012).
Undergraduate accounting students as candidates for accountants and auditors are required to have the ability to distinguish the
financial reporting process between Generally Accepted Accounting Principles (GAAP) and other international standards.
Particularly in Indonesia, accounting students need to understand and interpret the differences between GAAP and IFRS because
now Indonesia is already in the implementation phase, so the integration of IFRS in the curriculum is necessary to produce
graduates capable of preparing and auditing financial statements. Moreover, Indonesia is a country with a developing economy.
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South East Asia Journal of Contemporary Business, Economics and Law, Vol. 13, Issue 1(August)
ISSN 2289-1560
2017
In recent years, countries with developing economies have become an important investment opportunity and IFRS
implementation has become a means of attracting new investors (Albu et al., 2012).
The phenomenon occurs in the field just the opposite. There are still many private universities that are not ready to implement or
integrate IFRS so that knowledge or understanding of students about IFRS is still shallow. Some factors that affect the
unpreparedness of private universities in integrating or implementing IFRS in the curriculum are the inequitable socialization of
IFRS from the facilitators so that lecturers' resources do not understand the latest financial report standards, the existence of selflimitation of universities based on poor management, lack of Innovation and creativity of lecturers in understanding every
curriculum change, especially curriculum changes in accounting such as: Basic Accounting 1 and 2, Financial Accounting 1 and
2, Advanced Accounting 1 and 2, Accounting Checks I and 2, and Accounting Theory (Suhardianto, 2011) .
This research is a replication of Nugroho and Kristanti (2013) research on the investigation of accounting students’ perceptions
of International Financial Reporting Standards (IFRS) conducted at Krida Satya Wacana University; Chiang (2013) about IFRS
in the Accounting Curriculum-Implications from Different Perspectives; Helen and Wong (2013) on An Empirical StudyAdoption of International Financial Reporting Standards (IFRS) in Hong Kong Education. The gap between the previous
research and this research is the characteristics of the respondent into the variable measuring components such as gender and
field of interest, summarizes the results of previous research into the variable components consisting of the level of knowledge of
accounting students, the level of students' desire for learning IFRS and level of student interpretation. Another gap is the
demographic difference, where the authors conduct research only on private universities in Indonesia. The reason for the election
of 28 (twenty eight) private universities in Indonesia is that the whole private university contributes high enough to produce
graduates of accountants. However, most of these private universities are not ready to implement or integrate IFRS into the
curriculum to improve the quality of their education. The author has proven it by observing directly or observing directly to
several universities whose results reflect the subtle refusal by the college on the grounds that the internal curriculum should not
be published. Another reason is that private universities are managed by the community so there is a need for special closeness
with regulators and facilitators to upgrade the curriculum development information. Unlike the case with state universities
according to Government Regulation No. 4 of 2014 is a college established and / or organized by the government so that the
systematic curriculum in accordance with the policies of the regulator and facilitator.
Based on the background of the above problem, it can be formulated problem in this research are:
1. Is there a difference in the level of knowledge of undergraduate accounting students about the impact of convergent
International Financial Reporting Standards based on gender, specialization and origin of university?
2. Is there a difference in the level of desire of undergraduate accounting students to study IFRS so as to better
understand about the impact of convergent International Financial Reporting Standards based on gender,
specialization and origin of university?
3. Is there a difference in the level of interpretation of undergraduate accounting student about the impact of
convergent International Financial Reporting Standards based on gender, specialization and origin of university?
Literature review
According to Waluyo (2014), the convergence vocabulary is a noun derived from the verb "converge" which means "to be
similar or the same". It Means IFRS convergence is making accounting standards to be the same or similar to IFRS, by adopting
full or harmonizing.
IFRS convergence program that is programmed is necessity in this era of globalization which is undoubtedly to pay attention to
the range of IFRS convergence and the issues that need attention. It is realized that the factual Financial Accounting Standards
with International Accounting Standards(IAS) / IFRS there is a difference as the result of IAS / IFRS has grown rapidly.
Economic globalization is the driving force of the Financial Accounting Standards in foreign countries that initially characterized
the diversity that further led to IFAS's IASB convergence. The convergence process to IFRS is faced with many challenges and
impacts that require attention, since the development of Financial Accounting Standards becomes an obligation given the
dynamics and business development. Financial Accounting Standards are certainly related to economics, social, law, and culture,
it is this that not only create different concepts but also lead to diversity of accounting standards that result in inefficient in
preparing financial statements (Kartikahadi, et al, 2016).
IFRS is an international accounting standard issued by the International Accounting Standards Board (IASB). The International
Accounting Standards (IAS) is composed by four major international organizations: the International Accounting Standards
Board (IASB), the European Commission (EC), the International Capital Market Organization (IOSOC), and the International
Accounting Federation (IFAC). The International Accounting Standards Board (IASB), formerly known as the International
Accounting Standards Commission (AISC), is an independent institution to develop accounting standards. The organization has
the goal of developing and encouraging the use of high-quality, understandable and comparable global accounting standards
(Wahyuni and Juan, 2012).
The new accounting standard, IFRS, is also aimed at creating a regulation that meets all the needs of every user. A common
argument proposed for new accounting policies (IFRS) is that many facts stating every change in the standard will affect the
meaning of the financial ratios and financial numbers of each financial activity. IFRS is increasingly being used in the
preparation of consolidated financial statements because IFRS has a significant impact on financial operations or financial ratios
(Dan and Jun, 2013)
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2017
IFRS convergence activities are programmed to be imperative in the era of globalization and no doubt about the reach of IFRS
convergence and issues that need attention. It is realized that the factualFinancial Accounting Standardswith International
Accounting Standards(IAS) / IFRS has a difference as the result of IAS / IFRS has grown rapidly. Economic globalization is the
driving force of the Financial Accounting Standards in foreign countries that initially characterized the diversity that further led
to IFAS's IASB convergence. The convergence process to IFRS is faced with many challenges and impacts that require attention,
since the development of Financial Accounting Standards becomes an obligation given the dynamics and business development.
Financial Accounting Standards are certainly related to economics, social, law, and culture, it is this that not only makes a
difference concept but also leads to diversity of accounting standards that result in inefficient in preparing financial statements
(Waluyo, 2014).
Significant differences between US GAAP and IFRS are common areas of approach. IFRS is based on basic principles of
accounting with limited guidance on application while US GAAP is rule based with specific application guidelines (Martani et
al., 2012). The next difference is in the inventory cost flow method; IFRS allows using the FIFO method (first in first out) and
the average method but does not allow using LIFO (Smith, 2012). According to GAAP, PPE (Property, Plant and Equipment) is
recorded at the cost of acquisitions less accumulated depreciation and losses due to impairment. US GAAP also prohibits the
revaluation of PPE; otherwise IFRS permits revaluation and records it for fair market value (Persons, 2013).
Arifin (2015) revealed that perception is a process of organizing; interpreting the stimulus received by organisms or individuals
so that it becomes something meaningful, and is an integrated activity within the individual. Knowledge is an impression in the
human mind as a result of the use of its five senses and different from belief, superstition and misinformation. Desire or interest
is a sense of preference and a sense of interest in a thing or activity, with no one to order. Interest is essentially the acceptance of
a relationship between oneself and something outside of self. Interpretation is to interpret or assemble facts into a harmonious
and reasonable unity.
Research Hypothesis
Helen and Wong's (2013) study shows that there is no difference in the level of knowledge about IFRS based on gender groups
and areas of interest. While research conducted by Chiang (2013) shows those respondents do not believe IFRS will be
integrated into the curriculum. The average of students has a high level of knowledge of US GAAP compared to IFRS. From the
results of this study, the authors concluded that the level of student knowledge about IFRS becomes the main problem. Similar
research conducted by Nugroho and Kristanti (2013) the results showed no difference in the level of knowledge of IFRS by sex
group. In this study the authors remain focused on the level of knowledge with the development of indicators such as fields of
interest and the origin of universities. From the inconsistent results, it can be formulated hypothesis as follows:
H1 = There is a difference in the level of knowledge of undergraduate accounting students about the impact of convergence of
International Financial Reporting Standards based on gender, specialization field and college origin.
According to Chiang's research (2013) shows that the level of students' desire to study IFRS standards is still low because it is
used to study US GAAP. However, if IFRS is implemented it is entirely the responsibility of educators and universities to apply
financial standards into the curriculum. Another study conducted by Helen and Wong (2013) which shows that the level of
student desire to study IFRS is very high. Student responses to IFRS are shown enthusiastically to take courses on IFRS outside
of the college-taught curriculum.
While in research conducted Nugroho and Kristanti (2013) found that the level of interest has an important role to the decision of
students taking classes about IFRS if colleges offer it. In addition, research conducted Kurniawan (2013) found that interest or
desire to learn a positive and significant impact on the level of understanding or perception of IFRS. From the description, can be
drawn hypothesis as follows:
H2 = There is a difference in the level of willingness of undergraduate accounting students to study IFRS so as to better
understand about the impact of convergence of International Financial Reporting Standards based on gender, special
interest and origin of university.
Helen and Wong's (2013) study shows that students' perceptions of the impact of IFRS are still very low. It is proved by the
number of students who decide to deepen the level of knowledge by increasing interest in learning IFRS through the course. The
decision is taken on the grounds that it will assist them in future career development. Another study conducted by Chiang (2013)
shows that students' perceptions about the impact of IFRS are still very low as students understand more US GAAP than IFRS.
While in research conducted by Nugroho and Kristanti (2013) found that students’ perception about IFRS impact is very high.
Students understand correctly that IFRS greatly affects the company's financial performance. In this research there is a
development of indicators that serve as a variable that is the use of the word perception is replaced with the word interpretation
in accordance with the definition of perception put forward by experts. Then the addition of an indicator of the area of interest
that according to the author is very related and influential as well. From the description, can be drawn hypothesis as follows:
H3 = There is a difference in the level of interpretation of undergraduate accounting student about the impact of convergent
International Financial Reporting Standards based on gender, specialization and origin of university.
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Research methods
Population used in this research is undergraduate accounting student of private universities in Indonesia. After conducting a
preliminary survey on the student affairs section of 28 (twenty eight) private universities in Indonesia, the number of
undergraduate student population of 1200 students is obtained. The sample rate used is 10 respondents for each private university
so that the number of samples used is 280 respondents from 28 (twenty eight) private universities in Indonesia.
Data analysis technique used in this research is validity test, reliability test and Analysis of Variance (ANOVA) test. Validity test
is used to measure about questions on the questionnaire that should be discarded or replaced because it is considered irrelevant.
The reliability test is used to measure the degree of accuracy, accuracy or accuracy of the measuring instrument. For reliability
testing, the authors use the Alpha method (Alpha-Crobanch method). Analysis of Variance (ANOVA) is one multivariate
analysis technique that serves to differentiate the mean of more than two groups of data by comparing the variance. In this study
ANOVA test used is One-Way ANOVA. One-Way ANOVA is a procedure used to produce one-way variance analysis for the
dependent variable with a quantitative data type with an independent variable as a factor variable.
Research Results
Validity Test
Based on the result of the validity test showed that all the items on the variable of the level of knowledge of the undergraduate
students of accounting (X1), the variable of the students' desire level of accounting student for learning IFRS (X2), the
interpretation level of the accounting student (X3) and the convergence impact variable IFRS (Y) Is valid, because the value of rtest each question is greater than r-table (0.1381).
Reliability Test
Based on the results of reliability test showed that all the questions on the variable level of knowledge of undergraduate
accounting students (X1), the variable level of desire of undergraduate accounting students for learning IFRS (X2), variable level
of interpretation of undergraduate accounting students(X3) and variable impact of convergent IFRS (Y) is reliable, because Alpha
Cronbach’s value of each variable is> 0.60.
ANOVA (Analysis of Variance)
1. ANOVA Testing (Analysis of Variance) the level of knowledge of undergraduate accounting students (X1) compare between
t-test with t-table. Based on the above data the value of t-test is 0.517 or smaller than t-table (0.517 < 3.8415) or with a
significance level of 0.473 greater than 0.05. Thus, it can be concluded that there is no difference in the level of knowledge
of undergraduate accounting students about the impact of convergent International Financial Reporting Standards by gender.
2. ANOVA Testing (Analysis of Variance) the level of desire of undergraduate accounting students to study IFRS (X2)
compare between t-test with t-table. Based on the above data the value of t-test is 2.048 or smaller than t-table (2.048 <
3.8415) or with a significance level of 0.154 greater than 0.05. Thus, it can be concluded that there is no difference in the
level of desire of undergraduate accounting students to study IFRS so as to better understand about the impact of convergent
International Financial Reporting Standards by gender.
3. ANOVA Testing (Analysis of Variance) the level of interpretation of undergraduate accounting students (X3) compare
between t-test with t-table. Based on the above data the value of t-test is 0.982 or smaller than t-table (0.982 < 3.8415) or
with a significance level of 0.323 greater than 0.05. Thus, it can be concluded that there is no difference in the level of
interpretation of undergraduate accounting students about the impact of convergent International Financial Reporting
Standards by gender.
4. ANOVA Testing (Analysis of Variance) the level of knowledge of undergraduate accounting students (X1) compare between
t-test with t-table. Based on the above data the value of t-test is 4,984 or greater than t table (4.984 > 3.8415) or with
significance level 0.002 less than 0.05. Thus, it can be concluded that there is a difference in the level of knowledge of
undergraduate accounting students about the impact of convergent International Financial Reporting Standards based on
specialization.
5. ANOVA Testing (Analysis of Variance) the level of desire of undergraduate accounting students to study IFRS (X2) to
compare between t-test with t-table. Based on the above data the value of t-test is 0188 or smaller than t-table (0.188 <
3.8415) or with a significance level of 0.904 greater than 0.05. Thus, it can be concluded that there is no difference in the
level of desire of undergraduate accounting students to study IFRS so as to better understand about the impact of convergent
International Financial Reporting Standards based on specialization field.
6. ANOVA Testing (Analysis of Variance) the level of interpretation of undergraduate accounting students (X3) compare
between t-test with t-table. Based on the above data the value of t-test is 0.734 or smaller than t-table (0.734 < 3.8415) or
with a significance level of 0.532 greater than 0.05. Thus, it can be concluded that there is no difference in the level of
interpretation of undergraduate accounting students about the impact of convergent International Financial Reporting
Standards based on specialization field.
7. ANOVA Testing (Analysis of Variance) the level of knowledge of undergraduate accounting students (X1) compares
between t-test with t-table. Based on the above data the value of t-test is 4,116 or greater than t-table (4.116 > 3.8415) or with
a significance level of 0.000 smaller than 0.05. Thus, it can be concluded that there is a difference in the level of knowledge
of undergraduate accounting students about the impact of convergent International Financial Reporting Standards based on
universities.
8. ANOVA Testing (Analysis of Variance) the level of students' desire to study IFRS (X2) to compare between t-test with ttable. Based on the above data the value of t-test is 9148 or greater than t-table (9.148 > 3.8415) or with a significance level
of 0.000 less than 0.05. So, it can be concluded that there are differences in the level of desire of undergraduate accounting
students to study IFRS so that more understanding about the impact of convergent International Financial Reporting
Standards based on respondents’ origin college.
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2017
9. ANOVA Testing (Analysis of Variance) the level of interpretation of undergraduate accounting student (X3) compare
between t-test with t-table. Based on the above data the value of t-test is 14,375 or greater than t-table (14.375 > 3.8415) or
with a significance level of 0.000 less than 0.05. Thus, it can be concluded that there is a difference in the level of
interpretation of undergraduate accounting students about the impact of convergent International Financial Reporting
Standards based on respondents’ origin college.
Discussion
Measuring the level of knowledge of undergraduate accounting students about the impact of convergent International Financial
Reporting Standards (IFRS) by gender shows insignificant results. It can be concluded that the level of knowledge of male sex
respondents does not have differences with the level of knowledge of female respondents. The results of this study are consistent
conducted by Nugroho and Kristanti (2013); Helen and Wong (2013). These findings suggest that the sexes of both women and
men have a low level of knowledge about the impact of IFRS convergence.
Measuring the level of knowledge of undergraduate accounting students about the impact of convergent International Financial
Reporting Standards (IFRS) based on the field of specialization showed significant results. It can be concluded that there are
differences in the level of knowledge of respondents who take the area of specialization in financial accounting, tax accounting,
auditing and sharia accounting. In the results of this study based on questionnaires distributed level of knowledge of students
who take the field of financial accounting and auditing higher than the level of knowledge of students who take the field of
accounting taxation and sharia accounting. The results of this study are consistent with research conducted by Helen and Wong
(2013). However, this study also falls into the category of recent findings because the authors explain in more detail the areas of
interest.
Measuring the level of knowledge of undergraduate Accounting students about the impact of convergent International Financial
Reporting Standards (IFRS) based on university shows significant results. It can be concluded that there is difference of
knowledge level of respondent based on university. These results are measured by the questionnaire I know IFRS well, I
understand IFRS well and I rate IFRS very useful in the world of work later. In the results of this study based on questionnaires
are distributed about the level of knowledge of students who come from large universities (university scale) is very different
from the level of knowledge of accounting students who come from lower-middle-class colleges. It can be concluded that the
integration of the IFRS-based curriculum is more applied to universities at the University and some STIE colleges. These
findings are at once a new finding that there is a significant difference in knowledge level based on the origin of the college.
Measuring the level of desire of undergraduate accounting students to study IFRS is more understanding about the impact of
convergent International Financial Reporting Standards (IFRS) based on gender shows insignificant results. It can be concluded
that the level of respondents desire of male gender does not have differences with the level of wishes of respondents who female
gender means that all respondents both male and female sex have a desire to learn IFRS through books, literatures or courses (if
the campus offers IFRS classes). This research is consistent with the research conducted by Helen and Wong (2013), Nugroho
and Kristanti (2013) and Kurniawan (2013) which found that there is a similarity between the male and female respondents.
Measuring the level of desire of undergraduate Accounting Student to study IFRS is better to understand the impact of
convergent International Financial Reporting Standards (IFRS) based on specialization field shows insignificant results. It can be
concluded that there is no difference in the level of desire of respondents who have different areas of specialization means that all
respondents either choose the field of financial accounting interests, tax accounting, auditing and sharia accounting equally have
the desire to learn IFRS either through books, literatures,courses (if the campus offers IFRS classes). This research is consistent
with the research conducted by Helen and Wong (2013), Nugroho and Kristanti (2013) and Kurniawan (2013) which found that
there is a similarity level of respondent's wishes that have different areas of interest.
Measuring the level of desire of undergraduate accounting student to study IFRS is better to understand the impact convergent of
International Financial Reporting Standards (IFRS) based on universities shows significant results. It can be concluded that there
are differences in the level of desire of respondents based on universities. This result is measured by questionnaires, namely
having a desire to study IFRS through books, literatures, or courses (if the campus offers IFRS classes). In the results of this
study based on questionnaires distributed the level of desire of students who come from upper secondary colleges is very
different from the level of desire of accounting students who come from large scale universities. It can be concluded that the
level of accounting students 'desire from middle to lower scale universities is higher than the level of accounting students' desire
from large universities (university-scale). These findings are at once a new finding that there is a significant degree of
desirability based on the origin of the college.
Measuring the level of interpretation of undergraduate accounting students about the impact of convergent International
Financial Reporting Standards (IFRS) that based on gender shows insignificant results. It can be concluded that the level of
interpretation of respondents of male gender does not differ from the level of interpretation of female respondents. This research
is consistent with research conducted by Nugroho and Kristanti (2013) and Kurniawan (2013) which suggests that there is a
similarity of interpretation level between male and female respondents.
Measuring the level of interpretation of undergraduate accounting students about the impact of convergent International
Financial Reporting Standards (IFRS) based on the specialization field shows insignificant results. It can be concluded that there
is no difference in the level of interpretation of respondents who have different areas of specialization means that all respondents
who choose the field of specialization in financial accounting, tax accounting, auditing and sharia accounting have the same level
of interpretation of IFRS will affect the financial performance of companies In Indonesia, IFRS will affect the performance of
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2017
the company's existing operations in Indonesia and IFRS will affect the performance of accounting education field. This research
is consistent with research conducted by Nugroho and Kristanti (2013) and Kurniawan (2013) which suggests that there is an
equation of interpretation level among respondents who choose the area of interest in financial accounting, tax accounting,
auditing and sharia accounting. However, this study is not in line with the research of Helen and Wong (2013) and Chiang
(2013) which suggests that the level of student interpretation is still very low because their knowledge is more directed towards
US GAAP.
Measuring the level of interpretation of undergraduate accounting students about the impact of convergent International
Financial Reporting Standards (IFRS) based on universities shows significant results. It can be concluded that there are different
levels of interpretation of respondents based on universities. These results are measured by the IFRS questionnaire will affect the
financial performance of companies in Indonesia, IFRS will affect the performance of the company's existing operations in
Indonesia and IFRS will affect the performance of the field of accounting education. In the results of this study based on
questionnaires distributed level of interpretation of students coming from upper secondary colleges is very different from the
level of interpretation of accounting students who come from universities which is large scale. It can be concluded that the
interpretation level of accounting students from middle to lower scale universities is lower than the interpretation level of
accounting students from large universities. This is because accounting students from large-scale universities more understand
and know about IFRS so that the interpretation is wider than accounting students who come from college scale. These findings
are at once a new finding that there is a significant difference in interpretation levels based on the origin of universities.
The results of the implementation or application of the level of knowledge of accounting students, the level of accounting
students' wishes accounting for learning IFRS and interpretation level of accounting student about the impact of convergence of
International Financial Reporting Standards (IFRS) through ANOVA (Analysis of Variance) test based on gender, The origin of
the respondent's college shows a fluctuating result. Overall the level of student knowledge about the impact of IFRS is still very
low, especially students who come from small and medium scale universities. The low level of knowledge affects the level of
student desire to study IRFS because most students have interpretations that IFRS positively impact the development of
Indonesia's economic flows in particular and the world at large. To that end, business colleges with accounting and faculty study
programs play an important role in integrating IFRS into the curriculum. A good curriculum and learning method will help
students understand IFRS. State or private universities or universities that implement IFRS in their curriculum will improve the
quality of their education, which ultimately affects the graduates they produce. Graduated Accounting Students who’s a good
knowledge of IFRS,havesuperiority during employee recruitment. It certainly brings the consequence that accounting education
institutions should prepare them to be ready for change. For that readiness of teachers who understand IFRS convergence is
needed to realize IFRS-based accounting learning. This requires commitment and teamwork in each institution. Colleges and
lecturers are personally responsible for the mastery of IFRS material. Although academics may reject IFRS, an understanding of
IFRS is absolutely necessary before determining an objective and proportional attitude.
Conclusions
Based on ANOVA (Analysis of Variance) test, there was no difference in the level of knowledge of undergraduate accounting
students about the impact of convergent International Financial Reporting Standards by gender, whereas based on specialization
field and college origin there is a very significant difference. It was found that there was no difference in the level of desire of
accounting students to study IFRS so that they were more understanding about the impact convergent of International Financial
Reporting Standards based on gender and specialization field, whereas based on the origin of college respondents there was a
very significant difference. There was no difference in the level of interpretation of accounting students on the impact of
convergence of International Financial Reporting Standards based on gender and specialization field, whereas based on
university there was a significant difference.
The results showed the coverage of IFRS teaching materials in the course, the readiness of each college, and the support of the
study program which is still relatively low. This needs to be followed up by joint efforts of study programs, Indonesian Institute
of Accountants, and other institutions that have an interest in the Financial Accounting Standards to further improve the
readiness of qualified accountants through the integration of IFRS standards in the curriculum applicable in each private
universities in Indonesia in particular And international in general. In addition, information can be used as consideration and
evaluation related to curriculum policies and class offerings on International Financial Reporting Standards.
Recommendations
Based on the above conclusions, it is recommended for the next research to focus on the teaching method of the accounting
lecturer. From the observation during the research process the level of student understanding about the impact of IFRS
convergence is determined by the teaching method of accounting lecturers.Middle to lower private universities have a low
understanding because they are almost never taught about IFRS or the prevailing financial accounting standards in Indonesia.
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Education. Journal of Management Research, 5 (4): 98-107.
Kartikahadi, H, et.al. (2016). Akuntansi Keuangan Berdasarkan SAK Berbasis IFRS. Edisi Kedua, Buku satu. Jakarta: Ikatan
Akuntan Indonesia.
Kurniawan (2013). Tingkat Pemahaman Mahasiswa Terhadap IFRS (Studi Empiris Pada Mahasiswa Universitas Dian
Nuswantoro dan Universitas Katolik Soegijapranata Semarang). Jurnal Akuntansi Universitas Dian Nuswantoro.
Nugroho dan Kristanti (2013). Investigasi Persepsi Mahasiswa Akuntansi Terhadap International Financial Reporting Standards.
ISSN. Papers Presented at the Simposium Nasional Akuntansi XVI: 4913-4935.
Persons, O. (2013). A Principle-Based Case for Teaching International Financial Reporting Standards (IFRS). Papers Presented
at the Global Conference on Business and Finance Proceedings 8(1): 154-157.
Smith, L. M. (2012). IFRS and U.S. GAAP: Some Key Differences Accountants Should Know, Management Accounting
Quarterly 14(1): 19-26.
Suhardianto, Novrys (2011). Respon Akademisi Terhadap Konvergensi IFRS. Jurnal Universitas Negeri Airlangga. Non
Publish.
Saito, Hiratmatsu dan Mayangsari (2012). Accounting Education for the Implementation of IFRS in Indonesia. International
Review of Business, 12:1-21.
Wahyuni, E.T dan Juan, N.E (2012). Panduan Praktis Standar Akuntansi Keuangan. Jakarta: Salemba Empat.
Waluyo (2014). Akuntansi Pajak (Edisi 5). Jakarta: Salemba Empat.
Redaktur Wau
Faculty of Economics and Business
University of 17 August 1945 Jakarta, Indonesia
Email: redakturwau@gmail.com
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PERCEPTION OF UNDERGRADUATE ACCOUNTING STUDENTS ABOUT THE IMPACT
OF CONVERGENT INTERNATIONAL FINANCIAL REPORTING STANDARDS (CASE
STUDY ON PRIVATE UNIVERSITIES IN INDONESIA)
Redaktur Wau
ABSTRACT
This study aims to describe the perception of undergraduate accounting students through the level of knowledge, level of desire
and level of interpretation about the impact of convergent International Financial Reporting Standards (IFRS) at private
universities in Indonesia. The research was conducted by observation approach and spreading of questionnaire in 28 (twenty
eight) private universities. Data analysis technique which is used is ANOVA (Analysis of Variance). Based on ANOVA (Analysis
of Variance) test, there was no difference in the level of knowledge of undergraduate accounting students about the impact of
convergent International Financial Reporting Standards based on gender, whereas based on specialization field and the
respondents’ college origin, there was a very significant difference. It was found that there was no difference in the level of
desire of accounting students to study IFRS so that they were more understanding about the impact of convergent International
Financial Reporting Standards based on gender and specialization field, whereas based on the respondents’ college origin, there
was a very significant difference. And found no difference in the level of interpretation of accounting student about the impact
convergent of International Financial Reporting Standards based on gender and specialization field, whereas based on the
origin of universities there is a very significant difference.
Keywords: Level of Knowledge, Desire Level, Interpretation Level, Impact of convergent International Financial Reporting
Standards.
Introduction
The changing global environment that is bringing together almost all the countries of the world in a single community, which is
bridged by the development of increasingly inexpensive communication and information technology, demands transparency in
all fields. A quality financial accounting standard is one of the key infrastructures to realize such transparency. Financial
accounting standards can be likened to a mirror, where a good mirror will be able to describe the actual practical business
conditions. Therefore, the development of good financial accounting standards is highly relevant and absolutely necessary in the
present.
Companies that exist in Indonesia in preparing financial statements should be based on accounting standards, in order to produce
relevant and reliable financial statements. The accounting standards establish the rules of recognition, measurement, presentation
and disclosure in the financial statements between different companies. The Statement of Financial Accounting Standards is a
recognized and used standard in Indonesia for preparing financial statements of companies with significant public accountability.
The financial reporting began to move from the Statement of Accounting Standards to the International Financial Reporting
Standards (IFRS). Within the time frame of 2008-2012 the first convergence was made by gradually reducing the difference
between Statement of Financial Accounting Standards and International Financial Reporting Standards (IFRS), so that in the end
financial reporting of public companies will use IFRS. Then in 2012-2014 the second convergence is done for perfection
(Kartikahadi, et al, 2016),
Wahyuni and Juan (2012) argue IFRS to be a global phenomenon for now as more and more countries in the world adopt this
international accounting standard. IFRS itself has been used by more than 150 countries, including Japan, China, Canada and 27
EU Countries. At least 85 of these countries have required their financial statements using IFRS for all domestic or listed
companies listed in the capital market. Indonesia the IFRS transition is an unavoidable choice because Indonesia has become an
important part of the market and the global economy.
Convergence or adoption of IFRS not only has implications for the business world, but also has implications for the world of
accounting education, profession and financial reporting in Indonesia. Accounting high education needs to prepare graduates to
be able to understand IFRS and be able to implement IFRS-based accounting standards well. The development of global
financial reporting has implications for the need to educate students about global financial reporting (Saito, Hiratmatsu and
Mayangsari, 2012).
Undergraduate accounting students as candidates for accountants and auditors are required to have the ability to distinguish the
financial reporting process between Generally Accepted Accounting Principles (GAAP) and other international standards.
Particularly in Indonesia, accounting students need to understand and interpret the differences between GAAP and IFRS because
now Indonesia is already in the implementation phase, so the integration of IFRS in the curriculum is necessary to produce
graduates capable of preparing and auditing financial statements. Moreover, Indonesia is a country with a developing economy.
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In recent years, countries with developing economies have become an important investment opportunity and IFRS
implementation has become a means of attracting new investors (Albu et al., 2012).
The phenomenon occurs in the field just the opposite. There are still many private universities that are not ready to implement or
integrate IFRS so that knowledge or understanding of students about IFRS is still shallow. Some factors that affect the
unpreparedness of private universities in integrating or implementing IFRS in the curriculum are the inequitable socialization of
IFRS from the facilitators so that lecturers' resources do not understand the latest financial report standards, the existence of selflimitation of universities based on poor management, lack of Innovation and creativity of lecturers in understanding every
curriculum change, especially curriculum changes in accounting such as: Basic Accounting 1 and 2, Financial Accounting 1 and
2, Advanced Accounting 1 and 2, Accounting Checks I and 2, and Accounting Theory (Suhardianto, 2011) .
This research is a replication of Nugroho and Kristanti (2013) research on the investigation of accounting students’ perceptions
of International Financial Reporting Standards (IFRS) conducted at Krida Satya Wacana University; Chiang (2013) about IFRS
in the Accounting Curriculum-Implications from Different Perspectives; Helen and Wong (2013) on An Empirical StudyAdoption of International Financial Reporting Standards (IFRS) in Hong Kong Education. The gap between the previous
research and this research is the characteristics of the respondent into the variable measuring components such as gender and
field of interest, summarizes the results of previous research into the variable components consisting of the level of knowledge of
accounting students, the level of students' desire for learning IFRS and level of student interpretation. Another gap is the
demographic difference, where the authors conduct research only on private universities in Indonesia. The reason for the election
of 28 (twenty eight) private universities in Indonesia is that the whole private university contributes high enough to produce
graduates of accountants. However, most of these private universities are not ready to implement or integrate IFRS into the
curriculum to improve the quality of their education. The author has proven it by observing directly or observing directly to
several universities whose results reflect the subtle refusal by the college on the grounds that the internal curriculum should not
be published. Another reason is that private universities are managed by the community so there is a need for special closeness
with regulators and facilitators to upgrade the curriculum development information. Unlike the case with state universities
according to Government Regulation No. 4 of 2014 is a college established and / or organized by the government so that the
systematic curriculum in accordance with the policies of the regulator and facilitator.
Based on the background of the above problem, it can be formulated problem in this research are:
1. Is there a difference in the level of knowledge of undergraduate accounting students about the impact of convergent
International Financial Reporting Standards based on gender, specialization and origin of university?
2. Is there a difference in the level of desire of undergraduate accounting students to study IFRS so as to better
understand about the impact of convergent International Financial Reporting Standards based on gender,
specialization and origin of university?
3. Is there a difference in the level of interpretation of undergraduate accounting student about the impact of
convergent International Financial Reporting Standards based on gender, specialization and origin of university?
Literature review
According to Waluyo (2014), the convergence vocabulary is a noun derived from the verb "converge" which means "to be
similar or the same". It Means IFRS convergence is making accounting standards to be the same or similar to IFRS, by adopting
full or harmonizing.
IFRS convergence program that is programmed is necessity in this era of globalization which is undoubtedly to pay attention to
the range of IFRS convergence and the issues that need attention. It is realized that the factual Financial Accounting Standards
with International Accounting Standards(IAS) / IFRS there is a difference as the result of IAS / IFRS has grown rapidly.
Economic globalization is the driving force of the Financial Accounting Standards in foreign countries that initially characterized
the diversity that further led to IFAS's IASB convergence. The convergence process to IFRS is faced with many challenges and
impacts that require attention, since the development of Financial Accounting Standards becomes an obligation given the
dynamics and business development. Financial Accounting Standards are certainly related to economics, social, law, and culture,
it is this that not only create different concepts but also lead to diversity of accounting standards that result in inefficient in
preparing financial statements (Kartikahadi, et al, 2016).
IFRS is an international accounting standard issued by the International Accounting Standards Board (IASB). The International
Accounting Standards (IAS) is composed by four major international organizations: the International Accounting Standards
Board (IASB), the European Commission (EC), the International Capital Market Organization (IOSOC), and the International
Accounting Federation (IFAC). The International Accounting Standards Board (IASB), formerly known as the International
Accounting Standards Commission (AISC), is an independent institution to develop accounting standards. The organization has
the goal of developing and encouraging the use of high-quality, understandable and comparable global accounting standards
(Wahyuni and Juan, 2012).
The new accounting standard, IFRS, is also aimed at creating a regulation that meets all the needs of every user. A common
argument proposed for new accounting policies (IFRS) is that many facts stating every change in the standard will affect the
meaning of the financial ratios and financial numbers of each financial activity. IFRS is increasingly being used in the
preparation of consolidated financial statements because IFRS has a significant impact on financial operations or financial ratios
(Dan and Jun, 2013)
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IFRS convergence activities are programmed to be imperative in the era of globalization and no doubt about the reach of IFRS
convergence and issues that need attention. It is realized that the factualFinancial Accounting Standardswith International
Accounting Standards(IAS) / IFRS has a difference as the result of IAS / IFRS has grown rapidly. Economic globalization is the
driving force of the Financial Accounting Standards in foreign countries that initially characterized the diversity that further led
to IFAS's IASB convergence. The convergence process to IFRS is faced with many challenges and impacts that require attention,
since the development of Financial Accounting Standards becomes an obligation given the dynamics and business development.
Financial Accounting Standards are certainly related to economics, social, law, and culture, it is this that not only makes a
difference concept but also leads to diversity of accounting standards that result in inefficient in preparing financial statements
(Waluyo, 2014).
Significant differences between US GAAP and IFRS are common areas of approach. IFRS is based on basic principles of
accounting with limited guidance on application while US GAAP is rule based with specific application guidelines (Martani et
al., 2012). The next difference is in the inventory cost flow method; IFRS allows using the FIFO method (first in first out) and
the average method but does not allow using LIFO (Smith, 2012). According to GAAP, PPE (Property, Plant and Equipment) is
recorded at the cost of acquisitions less accumulated depreciation and losses due to impairment. US GAAP also prohibits the
revaluation of PPE; otherwise IFRS permits revaluation and records it for fair market value (Persons, 2013).
Arifin (2015) revealed that perception is a process of organizing; interpreting the stimulus received by organisms or individuals
so that it becomes something meaningful, and is an integrated activity within the individual. Knowledge is an impression in the
human mind as a result of the use of its five senses and different from belief, superstition and misinformation. Desire or interest
is a sense of preference and a sense of interest in a thing or activity, with no one to order. Interest is essentially the acceptance of
a relationship between oneself and something outside of self. Interpretation is to interpret or assemble facts into a harmonious
and reasonable unity.
Research Hypothesis
Helen and Wong's (2013) study shows that there is no difference in the level of knowledge about IFRS based on gender groups
and areas of interest. While research conducted by Chiang (2013) shows those respondents do not believe IFRS will be
integrated into the curriculum. The average of students has a high level of knowledge of US GAAP compared to IFRS. From the
results of this study, the authors concluded that the level of student knowledge about IFRS becomes the main problem. Similar
research conducted by Nugroho and Kristanti (2013) the results showed no difference in the level of knowledge of IFRS by sex
group. In this study the authors remain focused on the level of knowledge with the development of indicators such as fields of
interest and the origin of universities. From the inconsistent results, it can be formulated hypothesis as follows:
H1 = There is a difference in the level of knowledge of undergraduate accounting students about the impact of convergence of
International Financial Reporting Standards based on gender, specialization field and college origin.
According to Chiang's research (2013) shows that the level of students' desire to study IFRS standards is still low because it is
used to study US GAAP. However, if IFRS is implemented it is entirely the responsibility of educators and universities to apply
financial standards into the curriculum. Another study conducted by Helen and Wong (2013) which shows that the level of
student desire to study IFRS is very high. Student responses to IFRS are shown enthusiastically to take courses on IFRS outside
of the college-taught curriculum.
While in research conducted Nugroho and Kristanti (2013) found that the level of interest has an important role to the decision of
students taking classes about IFRS if colleges offer it. In addition, research conducted Kurniawan (2013) found that interest or
desire to learn a positive and significant impact on the level of understanding or perception of IFRS. From the description, can be
drawn hypothesis as follows:
H2 = There is a difference in the level of willingness of undergraduate accounting students to study IFRS so as to better
understand about the impact of convergence of International Financial Reporting Standards based on gender, special
interest and origin of university.
Helen and Wong's (2013) study shows that students' perceptions of the impact of IFRS are still very low. It is proved by the
number of students who decide to deepen the level of knowledge by increasing interest in learning IFRS through the course. The
decision is taken on the grounds that it will assist them in future career development. Another study conducted by Chiang (2013)
shows that students' perceptions about the impact of IFRS are still very low as students understand more US GAAP than IFRS.
While in research conducted by Nugroho and Kristanti (2013) found that students’ perception about IFRS impact is very high.
Students understand correctly that IFRS greatly affects the company's financial performance. In this research there is a
development of indicators that serve as a variable that is the use of the word perception is replaced with the word interpretation
in accordance with the definition of perception put forward by experts. Then the addition of an indicator of the area of interest
that according to the author is very related and influential as well. From the description, can be drawn hypothesis as follows:
H3 = There is a difference in the level of interpretation of undergraduate accounting student about the impact of convergent
International Financial Reporting Standards based on gender, specialization and origin of university.
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Research methods
Population used in this research is undergraduate accounting student of private universities in Indonesia. After conducting a
preliminary survey on the student affairs section of 28 (twenty eight) private universities in Indonesia, the number of
undergraduate student population of 1200 students is obtained. The sample rate used is 10 respondents for each private university
so that the number of samples used is 280 respondents from 28 (twenty eight) private universities in Indonesia.
Data analysis technique used in this research is validity test, reliability test and Analysis of Variance (ANOVA) test. Validity test
is used to measure about questions on the questionnaire that should be discarded or replaced because it is considered irrelevant.
The reliability test is used to measure the degree of accuracy, accuracy or accuracy of the measuring instrument. For reliability
testing, the authors use the Alpha method (Alpha-Crobanch method). Analysis of Variance (ANOVA) is one multivariate
analysis technique that serves to differentiate the mean of more than two groups of data by comparing the variance. In this study
ANOVA test used is One-Way ANOVA. One-Way ANOVA is a procedure used to produce one-way variance analysis for the
dependent variable with a quantitative data type with an independent variable as a factor variable.
Research Results
Validity Test
Based on the result of the validity test showed that all the items on the variable of the level of knowledge of the undergraduate
students of accounting (X1), the variable of the students' desire level of accounting student for learning IFRS (X2), the
interpretation level of the accounting student (X3) and the convergence impact variable IFRS (Y) Is valid, because the value of rtest each question is greater than r-table (0.1381).
Reliability Test
Based on the results of reliability test showed that all the questions on the variable level of knowledge of undergraduate
accounting students (X1), the variable level of desire of undergraduate accounting students for learning IFRS (X2), variable level
of interpretation of undergraduate accounting students(X3) and variable impact of convergent IFRS (Y) is reliable, because Alpha
Cronbach’s value of each variable is> 0.60.
ANOVA (Analysis of Variance)
1. ANOVA Testing (Analysis of Variance) the level of knowledge of undergraduate accounting students (X1) compare between
t-test with t-table. Based on the above data the value of t-test is 0.517 or smaller than t-table (0.517 < 3.8415) or with a
significance level of 0.473 greater than 0.05. Thus, it can be concluded that there is no difference in the level of knowledge
of undergraduate accounting students about the impact of convergent International Financial Reporting Standards by gender.
2. ANOVA Testing (Analysis of Variance) the level of desire of undergraduate accounting students to study IFRS (X2)
compare between t-test with t-table. Based on the above data the value of t-test is 2.048 or smaller than t-table (2.048 <
3.8415) or with a significance level of 0.154 greater than 0.05. Thus, it can be concluded that there is no difference in the
level of desire of undergraduate accounting students to study IFRS so as to better understand about the impact of convergent
International Financial Reporting Standards by gender.
3. ANOVA Testing (Analysis of Variance) the level of interpretation of undergraduate accounting students (X3) compare
between t-test with t-table. Based on the above data the value of t-test is 0.982 or smaller than t-table (0.982 < 3.8415) or
with a significance level of 0.323 greater than 0.05. Thus, it can be concluded that there is no difference in the level of
interpretation of undergraduate accounting students about the impact of convergent International Financial Reporting
Standards by gender.
4. ANOVA Testing (Analysis of Variance) the level of knowledge of undergraduate accounting students (X1) compare between
t-test with t-table. Based on the above data the value of t-test is 4,984 or greater than t table (4.984 > 3.8415) or with
significance level 0.002 less than 0.05. Thus, it can be concluded that there is a difference in the level of knowledge of
undergraduate accounting students about the impact of convergent International Financial Reporting Standards based on
specialization.
5. ANOVA Testing (Analysis of Variance) the level of desire of undergraduate accounting students to study IFRS (X2) to
compare between t-test with t-table. Based on the above data the value of t-test is 0188 or smaller than t-table (0.188 <
3.8415) or with a significance level of 0.904 greater than 0.05. Thus, it can be concluded that there is no difference in the
level of desire of undergraduate accounting students to study IFRS so as to better understand about the impact of convergent
International Financial Reporting Standards based on specialization field.
6. ANOVA Testing (Analysis of Variance) the level of interpretation of undergraduate accounting students (X3) compare
between t-test with t-table. Based on the above data the value of t-test is 0.734 or smaller than t-table (0.734 < 3.8415) or
with a significance level of 0.532 greater than 0.05. Thus, it can be concluded that there is no difference in the level of
interpretation of undergraduate accounting students about the impact of convergent International Financial Reporting
Standards based on specialization field.
7. ANOVA Testing (Analysis of Variance) the level of knowledge of undergraduate accounting students (X1) compares
between t-test with t-table. Based on the above data the value of t-test is 4,116 or greater than t-table (4.116 > 3.8415) or with
a significance level of 0.000 smaller than 0.05. Thus, it can be concluded that there is a difference in the level of knowledge
of undergraduate accounting students about the impact of convergent International Financial Reporting Standards based on
universities.
8. ANOVA Testing (Analysis of Variance) the level of students' desire to study IFRS (X2) to compare between t-test with ttable. Based on the above data the value of t-test is 9148 or greater than t-table (9.148 > 3.8415) or with a significance level
of 0.000 less than 0.05. So, it can be concluded that there are differences in the level of desire of undergraduate accounting
students to study IFRS so that more understanding about the impact of convergent International Financial Reporting
Standards based on respondents’ origin college.
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9. ANOVA Testing (Analysis of Variance) the level of interpretation of undergraduate accounting student (X3) compare
between t-test with t-table. Based on the above data the value of t-test is 14,375 or greater than t-table (14.375 > 3.8415) or
with a significance level of 0.000 less than 0.05. Thus, it can be concluded that there is a difference in the level of
interpretation of undergraduate accounting students about the impact of convergent International Financial Reporting
Standards based on respondents’ origin college.
Discussion
Measuring the level of knowledge of undergraduate accounting students about the impact of convergent International Financial
Reporting Standards (IFRS) by gender shows insignificant results. It can be concluded that the level of knowledge of male sex
respondents does not have differences with the level of knowledge of female respondents. The results of this study are consistent
conducted by Nugroho and Kristanti (2013); Helen and Wong (2013). These findings suggest that the sexes of both women and
men have a low level of knowledge about the impact of IFRS convergence.
Measuring the level of knowledge of undergraduate accounting students about the impact of convergent International Financial
Reporting Standards (IFRS) based on the field of specialization showed significant results. It can be concluded that there are
differences in the level of knowledge of respondents who take the area of specialization in financial accounting, tax accounting,
auditing and sharia accounting. In the results of this study based on questionnaires distributed level of knowledge of students
who take the field of financial accounting and auditing higher than the level of knowledge of students who take the field of
accounting taxation and sharia accounting. The results of this study are consistent with research conducted by Helen and Wong
(2013). However, this study also falls into the category of recent findings because the authors explain in more detail the areas of
interest.
Measuring the level of knowledge of undergraduate Accounting students about the impact of convergent International Financial
Reporting Standards (IFRS) based on university shows significant results. It can be concluded that there is difference of
knowledge level of respondent based on university. These results are measured by the questionnaire I know IFRS well, I
understand IFRS well and I rate IFRS very useful in the world of work later. In the results of this study based on questionnaires
are distributed about the level of knowledge of students who come from large universities (university scale) is very different
from the level of knowledge of accounting students who come from lower-middle-class colleges. It can be concluded that the
integration of the IFRS-based curriculum is more applied to universities at the University and some STIE colleges. These
findings are at once a new finding that there is a significant difference in knowledge level based on the origin of the college.
Measuring the level of desire of undergraduate accounting students to study IFRS is more understanding about the impact of
convergent International Financial Reporting Standards (IFRS) based on gender shows insignificant results. It can be concluded
that the level of respondents desire of male gender does not have differences with the level of wishes of respondents who female
gender means that all respondents both male and female sex have a desire to learn IFRS through books, literatures or courses (if
the campus offers IFRS classes). This research is consistent with the research conducted by Helen and Wong (2013), Nugroho
and Kristanti (2013) and Kurniawan (2013) which found that there is a similarity between the male and female respondents.
Measuring the level of desire of undergraduate Accounting Student to study IFRS is better to understand the impact of
convergent International Financial Reporting Standards (IFRS) based on specialization field shows insignificant results. It can be
concluded that there is no difference in the level of desire of respondents who have different areas of specialization means that all
respondents either choose the field of financial accounting interests, tax accounting, auditing and sharia accounting equally have
the desire to learn IFRS either through books, literatures,courses (if the campus offers IFRS classes). This research is consistent
with the research conducted by Helen and Wong (2013), Nugroho and Kristanti (2013) and Kurniawan (2013) which found that
there is a similarity level of respondent's wishes that have different areas of interest.
Measuring the level of desire of undergraduate accounting student to study IFRS is better to understand the impact convergent of
International Financial Reporting Standards (IFRS) based on universities shows significant results. It can be concluded that there
are differences in the level of desire of respondents based on universities. This result is measured by questionnaires, namely
having a desire to study IFRS through books, literatures, or courses (if the campus offers IFRS classes). In the results of this
study based on questionnaires distributed the level of desire of students who come from upper secondary colleges is very
different from the level of desire of accounting students who come from large scale universities. It can be concluded that the
level of accounting students 'desire from middle to lower scale universities is higher than the level of accounting students' desire
from large universities (university-scale). These findings are at once a new finding that there is a significant degree of
desirability based on the origin of the college.
Measuring the level of interpretation of undergraduate accounting students about the impact of convergent International
Financial Reporting Standards (IFRS) that based on gender shows insignificant results. It can be concluded that the level of
interpretation of respondents of male gender does not differ from the level of interpretation of female respondents. This research
is consistent with research conducted by Nugroho and Kristanti (2013) and Kurniawan (2013) which suggests that there is a
similarity of interpretation level between male and female respondents.
Measuring the level of interpretation of undergraduate accounting students about the impact of convergent International
Financial Reporting Standards (IFRS) based on the specialization field shows insignificant results. It can be concluded that there
is no difference in the level of interpretation of respondents who have different areas of specialization means that all respondents
who choose the field of specialization in financial accounting, tax accounting, auditing and sharia accounting have the same level
of interpretation of IFRS will affect the financial performance of companies In Indonesia, IFRS will affect the performance of
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the company's existing operations in Indonesia and IFRS will affect the performance of accounting education field. This research
is consistent with research conducted by Nugroho and Kristanti (2013) and Kurniawan (2013) which suggests that there is an
equation of interpretation level among respondents who choose the area of interest in financial accounting, tax accounting,
auditing and sharia accounting. However, this study is not in line with the research of Helen and Wong (2013) and Chiang
(2013) which suggests that the level of student interpretation is still very low because their knowledge is more directed towards
US GAAP.
Measuring the level of interpretation of undergraduate accounting students about the impact of convergent International
Financial Reporting Standards (IFRS) based on universities shows significant results. It can be concluded that there are different
levels of interpretation of respondents based on universities. These results are measured by the IFRS questionnaire will affect the
financial performance of companies in Indonesia, IFRS will affect the performance of the company's existing operations in
Indonesia and IFRS will affect the performance of the field of accounting education. In the results of this study based on
questionnaires distributed level of interpretation of students coming from upper secondary colleges is very different from the
level of interpretation of accounting students who come from universities which is large scale. It can be concluded that the
interpretation level of accounting students from middle to lower scale universities is lower than the interpretation level of
accounting students from large universities. This is because accounting students from large-scale universities more understand
and know about IFRS so that the interpretation is wider than accounting students who come from college scale. These findings
are at once a new finding that there is a significant difference in interpretation levels based on the origin of universities.
The results of the implementation or application of the level of knowledge of accounting students, the level of accounting
students' wishes accounting for learning IFRS and interpretation level of accounting student about the impact of convergence of
International Financial Reporting Standards (IFRS) through ANOVA (Analysis of Variance) test based on gender, The origin of
the respondent's college shows a fluctuating result. Overall the level of student knowledge about the impact of IFRS is still very
low, especially students who come from small and medium scale universities. The low level of knowledge affects the level of
student desire to study IRFS because most students have interpretations that IFRS positively impact the development of
Indonesia's economic flows in particular and the world at large. To that end, business colleges with accounting and faculty study
programs play an important role in integrating IFRS into the curriculum. A good curriculum and learning method will help
students understand IFRS. State or private universities or universities that implement IFRS in their curriculum will improve the
quality of their education, which ultimately affects the graduates they produce. Graduated Accounting Students who’s a good
knowledge of IFRS,havesuperiority during employee recruitment. It certainly brings the consequence that accounting education
institutions should prepare them to be ready for change. For that readiness of teachers who understand IFRS convergence is
needed to realize IFRS-based accounting learning. This requires commitment and teamwork in each institution. Colleges and
lecturers are personally responsible for the mastery of IFRS material. Although academics may reject IFRS, an understanding of
IFRS is absolutely necessary before determining an objective and proportional attitude.
Conclusions
Based on ANOVA (Analysis of Variance) test, there was no difference in the level of knowledge of undergraduate accounting
students about the impact of convergent International Financial Reporting Standards by gender, whereas based on specialization
field and college origin there is a very significant difference. It was found that there was no difference in the level of desire of
accounting students to study IFRS so that they were more understanding about the impact convergent of International Financial
Reporting Standards based on gender and specialization field, whereas based on the origin of college respondents there was a
very significant difference. There was no difference in the level of interpretation of accounting students on the impact of
convergence of International Financial Reporting Standards based on gender and specialization field, whereas based on
university there was a significant difference.
The results showed the coverage of IFRS teaching materials in the course, the readiness of each college, and the support of the
study program which is still relatively low. This needs to be followed up by joint efforts of study programs, Indonesian Institute
of Accountants, and other institutions that have an interest in the Financial Accounting Standards to further improve the
readiness of qualified accountants through the integration of IFRS standards in the curriculum applicable in each private
universities in Indonesia in particular And international in general. In addition, information can be used as consideration and
evaluation related to curriculum policies and class offerings on International Financial Reporting Standards.
Recommendations
Based on the above conclusions, it is recommended for the next research to focus on the teaching method of the accounting
lecturer. From the observation during the research process the level of student understanding about the impact of IFRS
convergence is determined by the teaching method of accounting lecturers.Middle to lower private universities have a low
understanding because they are almost never taught about IFRS or the prevailing financial accounting standards in Indonesia.
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Redaktur Wau
Faculty of Economics and Business
University of 17 August 1945 Jakarta, Indonesia
Email: redakturwau@gmail.com
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