Freeing from the shackles of international accounting standard (a study on accounting standard of agriculture asset)

This study aims to provide a perspective on the existence of the shackles in theInternational Accounting Standards (IAS) process and implementation of accountingstandards. In this case, there is a political pressure to contribute to eroding thecountry's sovereignty through industrial characteristics. This is a qualitative researchwith a critical paradigm. The data were taken from an in-depth interviews, focusgroup discussions, and direct observation of the agricultural industry. The resultsindicate that there is a need to release hegemony of financial accounting standards inIndonesia. Furthermore, empowerment of local accounting standards is a necessitygiven that only a small number of industries are listed, so that full adoption of IASwill not be used by both medium and small scale industries that dominate the industryin Indonesia. It implies that there must be an effort to provide input for theAccounting Standards Preparation Board in Indonesia.