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Corporate disclosure practice of internal control in Indonesia remains non-mandatory and limited in nature. This study was conducted to analyze the level of internal control disclosure in the annual reports of Indonesian public corporations and identify its consequences on the firm’s market performance and financial information quality, which was differentiated by corporate governance index. This index refers to the Corporate Governance Perception Index released by the Indonesian Institute for Corporate Governance in 2014 and 2015. Based on the conducted content analysis, it can be concluded that the disclosure of internal control by public corporations in Indonesia is still at an intermediate level. The influence of extensive internal control information disclosure on market performance is strengthened by the accounting information quality. And the influence of the relationship between extensive disclosure and firm performance is different between CGPI-indexed companies and those which are unindexed by CGPI. The findings of this research contribute to future researches related to internal control disclosure. Limitations and suggestions can be found at the end of this study.

This study aims to analyze financial statement users' perception ofinternal control information in annual reports of Indonesian corporations. This subject needs to be investigated because presently, there are no standardsor rules for the presentation of internal control disclosure in annual reports. As the extent of information disclosure may influence financing and/or investment decisions of stakeholders, we believe that it is necessary to consider the possibility of creating a guide for presentinginternal control information in company annual reports. Based on our analysis, we find that internal control system presentation/disclosure has to be improved; more detailed to meet the needs of users.Findings in this preliminary investigation will be further explored in our future studies.

The object-oriented approach in system design and development is gaining popularity. Some literature in information system demonstrate that object-oriented approach is viewed as superior to conventional system development such as relational database approach. There were many advantages of object-oriented approach such as easier modeling, more efficient model reuse and more convenient maintenance. In this paper we introduce you to object-oriented design to Accounting Information Systems by migrate the relational approach to object-oriented approach based on entity relationship diagram for revenue cycle.

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