Markups and Contribution Margins of Nursing Homes

Markups and profit margins are different accounting terms that analyze similar transactions and use the same inputs but show additional information. The two use costs and revenues as in their calculations. The critical difference is that while profit margins refer to sales less the cost of goods sold, markups refer to the amount that needs to be added to the cost of goods to get to the final selling price. Understanding these two terms ensures that price setting is done correctly. Too low or high price setting may cause lost profits or sales. Also, with time, the price setting of a firm impacts its market share. This research paper discusses markups and contribution margins of nursing homes.

NATURALIZATION IN TRANSLATION OF ENGLISH ACCOUNTING TERMS INTO INDONESIAN

This research was to analyze the process of spelling adjustment of naturalization applied in translation of English accounting terms into Indonesian. The objective of the study was to find out the Process of spelling adjustment of naturalization were used by accounting terms. This research used a descriptive and qualitative method. The data of this study were words containing naturalization were taken from the translation of selected articles of accounting textbook, Accounting 21e (2008). The data were collected through documentary technique. The data analysis was concerned of the implementation of spelling adjustment of naturalization. The findings show that naturalization in English-Indonesian accounting terms occurred in three categories, namely grapheme, and syllabic adapatation (double consonant become single consonant and consonant inhibitory. The products of naturalization have followed the guidance yet several new adjustment standards need to be included to enrich the pattern of foreign term adoption. In addition, this study recommends that proess of absorption in the Indonesian guidance of term formation needs to be revisited in order to precisely classify how foreign terms spelling adjustment is made in the Indonesian language Keywords: Naturalization, Translation Procedure, Accounting Terms, Spelling Adjustment

UTANG NEGARA, DIBAYAR OLEH WARGA NEGARA, DAN TINJAUANNYA MENURUT SYARI’AT AGAMA

Debt or in accounting terms is referred to as a liability at the conceptual and implementation level in the Islamic economic system is legal as long as it does not conflict with the principle of halalness and the principle of benefit. however, if the debt uses an interest instrument, the law is haram. Citizens are not obliged to pay off debts taken by the government, but those who are obliged to repay the debts in question are the officials or the government in power or if this is not possible, the next government is responsible for making payments when the mechanisms and processes for the facilities taken are in accordance with the procedures applies. However, if there is a distortion or fraud (deviation), the person obliged to return the debt payment obligation is an individual from the authorized official as the policy maker of the facility

Term - Deposit Waqf Linked Isthisna (TDWLI): Proposed Models, Accounting Aspects, and Risk Management Analysis

Islamic banking (further referred to as the Bank) faces two significant problems: excessive concentration in Murabaha financing contracts and high cost of funds. These two classic problems directly impact the development of the Bank and give rise to the stigma of a less innovative and unprofitable industry. This research aims to make a new product breakthrough that can help stakeholders overcome the two problems above. Term Deposit Waqf Linked Isthisna (TDWLI) has 4 variants: TDWLI Perpetual Principal, TDWLI Perpetual Principal + Profit Sharing, TDWLI Periodic Principal, TDWLI Periodic Principal, and + Profit Sharing. The TDWLI Periodic Principal is the variant that is most ready to be applied because, in accounting terms, it has been regulated in PSAK 112. In general, this TDWLI product will provide several advantages for banks to reduce the cost of funds (especially in the main variant of Waqf only). It will increase Isthisna financing, referring to OJK data in 2019, only 0.3% of total financing. In terms of accounting treatment, PSAK 112 must be adjusted especially if the Bank will release a Perpetual-based product variant. The main problem with perpetual-based products is the uncommon features. In perpetual, cash waqf cannot be withdrawn or, in other words, eternal. This research recommends that OJK is expected to study this product more deeply to develop healthy and innovative Islamic banking.Abstrak: Perbankan syariah (selanjutnya disebut Bank) saat ini sedang menghadapi 2 masalah besar yaitu konsentrasi berlebihan di akad pembiayaan Murabaha serta tingginya Cost of Fund. Kedua masalah klasik ini berdampak langsung kepada perkembangan Bank dan memunculkan stigma industry yang kurang inovatif dan tidak menguntungkan. Penelitian ini bertujuan untuk membuat terobosan produk baru yang dapat membantu stakeholders dalam mengatasi kedua masalah diatas. Produk Deposito Waqf Linked Isthisna (DWLI) dengan 4 varian nya baik itu DWLI Perpetual Pokok, DWLI Perpetual Pokok + Bagi Hasil, DWLI Periodic Pokok dan DWLI Periodic Pokok + Bagi Hasil. DWLI Periodic Pokok menjadi varian yang paling siap untuk diaplikasikan karena secara akuntansi sudah diatur dalam PSAK 112. Secara umum produk DWLI ini akan memberikan beberapa keuntungan bagi bank dalam rangka menurunkan cost of fund (terutama pada varian Wakaf pokok saja) serta akan menaikkan pembiayaan Isthisna yang merujuk kepada data OJK tahun 2019 hanya 0,3% dari total pembiayaan. Secara perlakuan akuntansi, PSAK 112 harus disesuaikan terutama apabila Bank akan merelaisasikan varian produk berbasis Perpetual. Permasalahan utama dari produk berbasis perpetual adalah ketidak umuman fitur dimana dalam perpetual, Wakaf uang tidak dapat ditarik atau dengan kata lain abadi. Rekomendasi dari penelitian ini adalah OJK diharapkan dapat mengkaji produk ini lebih dalam demi perkembangan perbank syariah yang sehat dan inovatif.Islamic banking (further referred to as the Bank) faces two significant problems: excessive concentration in Murabaha financing contracts and high cost of funds. These two classic problems directly impact the development of the Bank and give rise to the stigma of a less innovative and unprofitable industry. This research aims to make a new product breakthrough that can help stakeholders overcome the two problems above. Term Deposit Waqf Linked Isthisna (TDWLI) has 4 variants: TDWLI Perpetual Principal, TDWLI Perpetual Principal + Profit Sharing, TDWLI Periodic Principal, TDWLI Periodic Principal, and + Profit Sharing. The TDWLI Periodic Principal is the variant that is most ready to be applied because, in accounting terms, it has been regulated in PSAK 112. In general, this TDWLI product will provide several advantages for banks to reduce the cost of funds (especially in the main variant of Waqf only). It will increase Isthisna financing, referring to OJK data in 2019, only 0.3% of total financing. In terms of accounting treatment, PSAK 112 must be adjusted especially if the Bank will release a Perpetual-based product variant. The main problem with perpetual-based products is the uncommon features. In perpetual, cash waqf cannot be withdrawn or, in other words, eternal. This research recommends that OJK is expected to study this product more deeply to develop healthy and innovative Islamic banking

Utilising SATA in Measuring Students’ Understanding of Financial Statements: A Survey among Non-Accounting Students

Accounting is perceived as a complicated process due to its technical difficulties. However, accounting knowledge is undeniable essential to complete a business plan. The ‘Simplified Accounting Template for Apprentice’ (SATA) is developed to facilitate students especially non-accounting students who have very little accounting knowledge in preparing proforma financial statements at the financial section in the business plan. SATA act as integral part of technology used in accounting education to improve students’ understanding on accounting and help them to complete the business plan. The objective of this paper is to access the level of students’ understanding on accounting with the introduction of SATA in teaching and learning which finally can assist them to prepare financial statements. A hands-on workshop was conducted by accounting lecturers in UiTM Malacca Branch Jasin Campus on SATA to assist the students in completing the business plan for financial section. A questionnaire was given at the end of the workshop to the students to gather their feedback related on SATA and give their perceptions using SATA in preparing financial statements. This study found that more than 80% respondents admitted that SATA improved their understanding on accounting terms such as terms of non-current assets, non-current liabilities, sales, purchases, 85% agreed that SATA took lesser time to prepare financial statements, 90% found that SATA was very easy to use as compared to manually prepared the financial statements and facilitates in analyzing financial performance and 91% agreed that SATA really help them in completing their business plan particularly in financial section. On overall most of respondents admitted that SATA increase their understanding in preparing financial statements. This study also revealed that most of the respondents understand the component of Statement of Profit or Loss and Statement of Financial Position embedded in SATA.

Public procurement spend analysis at a national level in Finland

Purpose The purpose of this paper is to make a contribution for the unclear boundaries of public procurement in accounting terms. International organizations, public organizations’ national control entities and managers are interested in monetary spend. Public procurement literature and the system of national accounts lack proper definitions of public procurement in accounting terms or are framed by legal procedures. Design/methodology/approach The authors draft clear monetary definitions for procurement boundaries and develop an alternative, more refined bottom-up method of calculating public procurement spend. Findings The calculation for Finland is based on reliable secondary data and shows considerably higher procurement spend than traditional SNA statistics or procurement notices. Originality/value The calculation can be replicated in other countries using the 2008 SNA coding for organizations. The paper highlights the need to address in-house procurement in future research.

The consistency and complexity of accounting terminology in Croatian higher education system

Usually the most important role of language is to facilitate communication, which often proves challenging if the used terminology is inconsistent, complex or not understandable. These issues may especially affect specific language that is characteristic for a certain profession, particularly when the members of the profession communicate the message to the outsiders. Literature review suggests that the accounting terminology may sometimes be perceived as complex or incomprehensible, due to multiple changes and variations of accounting terms. Since there is a lack of research in the field of higher education, a research was conducted with the aim of analyzing accounting terminology used in the higher education institutions in Croatia. Both secondary and primary data were used in the analysis. The secondary data included accounting courses curricula of a sample of higher education institutions in Croatia, which were analyzed in order to explore the consistency of accounting terminology. In addition, the research was supplemented by collecting primary data using questionnaire on the attitudes of students about the complexity of accounting terminology. The analysis of accounting terms used in accounting courses curricula led to a conclusion that the analyzed courses, in most cases, are not harmonized regarding the terminology used. However, these results were expected from the previous research, that showed that the same applies for the Croatian regulatory accounting framework, which is why it was concluded that using different synonyms for the same accounting concepts may be beneficial for students. As for the students’ attitudes towards accounting terminology, the students who participated in the research mostly agree that the accounting courses often use different synonyms for the same concept. Although they perceive this as confusing, they are also aware that using multiple synonyms during courses for the same accounting concepts is useful because it serves as a preparation for practice. On the other hand, they mostly disagree with the statement that the accounting terminology is too complex and incomprehensible, which has proved to be influenced by the students’ characteristics, such as the type of study program enrolled, year of study, number of accounting courses attended, secondary school type and working experience. This research complements previous research conducted in Croatia in other areas where the accounting terminology is present, such as the legislation or in practice among business professionals, which is its main scientific contribution As for the practical implications, results of the research may serve as an indicator to educators and legislators in their future actions, since the potential problem of inconsistency and complexity of accounting terminology in courses' curricula are a direct consequence of inconsistency and complexity of terminology in accounting legislative.