SI
JRAK, Volume 10, No.1, Februari 2014
TUNNAL BISET AKUNTANSI DtrIT KEUANGAN Fakultas Bisnis Universitas Kristen Duta Wacana Yogyakarta ISSN: 0216-5082
DAFTAR ISI IN FACTORS AFFECTED CREATIVE ACCOT]NTING PRACTICES DE\ELOPING COUNTRIES: A COMPARATIVE STUDY BETWEEN h.DOI{ESIAN AND MALAYSIAN Theresia Trisanti PE]{GARUH ADOPSI IFRS TERHAD AP AADIT DEIAY PADA PER.USAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA Tegangatin dan Christine Novita Dewi
PE}iGARI]H PERSEPSI TATA KELOLA DAN KARAKTERISTIK PE3.USAHAAN TERIIADAP RISK- TAKING BEHAVI OR INVESTOR DI PASAR SAHAM s?x ir Widyawati dan Triyono ..............
r-14
15-30
31-45
KEPUTUSAN INVESTASI, KEPUTUSAN PENDANAAN, D.{.\ KEBUAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN
}f{\UFAKTUR
.{-rnrn Yuli Setyani dan Ambar Kusuma Astuti
KL ALITAS AUDIT DAN AT'DIT TENURE Rel sen Pramana Jati....'......
47-59
6r-71
PL\GELOLAAN ORGANISASI, PEMASARAN, KEUANGAN DAN AXTt{TANSI KELOMPOK TANI ORGANIK:
di Klaten) tStudi Kasus pada Kelompok Tani Organik Manunggal Lestari PtrianaKristanti, Purwaii Retno Andalas, dan Agustini Dyah Respati
73-E1
I
ri
....
(Theresia Trisanti)
FACTOR.S AFFECTED CREATIVE ACCOUNTING PRACTICES IN DEYELOPING COUNTNTBS: A COMPARATIVE STUDY BETWEEN INDONESIAN AND
MALAYSIAN
Sekorah
ringgi
J*:ffi,;ffi ?[!*,
yogyakarta
Jalan Seturan .Yogyakarta. 552gt E - mail : thtrisanti @ yahoo.com or thtrisanti @ gmail. com
ABSTRACT This pper presents the findings of creative accounting practices such as income smoothing practies and to identify factors associated with the incidence of income smoothing practicei in Indonesian and Malaysian listed firms. The coeff;icient of variation method intriduced by E*el's (1981) and modified by Atik (2009) was used to determined income smoothing factbes. The dirta used were the financial reports of each sample company which obtained furgh DataStream from 2009 ' 2012. Four hypotheses, wtriitr rehtl irrcome smoothing factices such as company'age, company size, profitability and debt financing, are tested in mis rysearch. Logistic regression indicated that in Indonesian, company age, profitability, 6!bt finansing have positive significant influence to income smoothing practiJes Uot
sizc has negative significant. For Malaysia, company size, company ige ana profitability "o*p*y arl siFificanfly associated with Income smoothing practices but debt financirg has negative sigdficant relationship.
Xqrods:
Income Smoothing Practices, Company Age, Company Size, Debt Financing, And Profitability.
ABSTRAK
Y"k"lrh ini
menyajikan temuan praktek akuntansi kreatif seperti praktek pemerataan laba dan mengidentifikasi faktor-faktor yang berhubungan dengan praktek penlerataan laba di pcmsanaan publik yang terdaftar di Bursa Efek Indonesia dan Malaysia. Metode koefisien yang diperkenalkan Eckel (1981) dan telah dimodifikasi oleh Atik (2009) digunakan moll mengidentifikasi perusahaan yang melakukan praktik pemerataan laba. DaTa yang digunakan adalah laporan keuangan dari masing-*urlng perusahaan yang dip6roleh-d# DaSream periode 2009 - 20L2. Empat hipotesis yang Grairi dari usia peirsahaan, ukuran perusahaan, profitabilitas dan pembiayaan utang akan diuji. ftasil regresi logistik rraunjukkan bahwa di Indonesia: umur perusahaan, profitabilitas, pemblayaan lturg berpeagaruh positif terhadap praktik pemerataan laba. Di perusahaan^ Malaysia, ukurai perusalaan, umur perusahaan dan profitabilitas berpengaruh positif terhadap praktik
ryataan
b
laba.
htnei: Praktik Perataan Laba, Umur Perusahaan, Ukuran perusahaan, pembiayaan L'rmg, Dan Profi tabilitas
FACTORS AFFECTED CREATIVE ACCOUNTTNG PRACT|CES tN ......
1S
ItS
ed he 1e
0f is le tS
)r rl e n
the earnings volatility by altering the operating decisions to affect cash flows and earnings of a certain period, such as easing credit terms to increase sales. Wbereas the artificial smoothing aims to reduce volatility publicly reported incom through accounting manipulation
of
that involves
management and takes advmtage of flexibility in the accounting stadards to alter the income reported
nuders (Atik, 2009; Chong,
2008). Mmagement tends to use both the real and artificial smoothing to control earnings
....
.....
.....(Theresia Trisanti)
volatility since they are under constant
pressure to
meet the forecasts, and avoid
performance objdctives
violations of debt affangements. However, the IS concept stipulates that market participants (e.g. investors, financial analyst and creditors) will lose faith in the company reported income if management consistently smoothed the income for the sake of satisfying the needs of a particular group of stakeholders. All these types of smoothing could be generally described in figure 1 below.
t.
I t
Intentionally Being Smooth by management
Naturally Smooth
Real Smoothing
Figure I A Broad Perspective of Income Smoothing
Scce:
Tb
ffi
Adopted from Eckel (1981)
Smoothing Dimension Smoothing dimensions are the me-
would be a function of the accounting
rules governing the
accounting recognition of the events (e.g., research and development expenses, advertising
through which smoothing is pcsmea to be accomplished, such as allmtion over time or classification. Srolowy and Bartov QO04) indicate that mthing can be accomplished along the
follo*ing three dimensions.
l-
Smoothing through events' occurrence and/or recognition. Maoagement can record actual uansactions so that their effects on reported income would tend to dampen its variations over time. Mostly, the planned timing of events occurrences
expenses). 2.
Smogthing through allocation over time.
3.
Given the occurrence and
the
recognition of an event, management has some discretionary control over the determination over the periods to be affected by the quantification of event. For example, manager discretion in choosing accounting method in computing income can choose either
.,...(Theresia Tisanti)
p(DD.616
1.994 ).866 t.093 6618
WT
targeted profit. Ironically, it often happens that the companies themselves who create this lressure to meet the profit target and the maket's expectations. Consequently, 6eir managements have incentives to menrge eamings to achieve a smooth and gro,sing earnings stream in . order to achltre targeted (Craig and Walsh, 1989).
,000) ,691) ).508
DcI hancing
).685
hypdcsizea that there
As seen in H2, this reffiip fu El
(B) .016 .007
.543 ,120 i461
,783 )00) 501) ;611 ,757
111)
Ia prs ,the DTS.
tted
iiul me :ed )ss
to or Ier tr's DM
ive
and IS Practices study
is a significant
between the IS practices and the company. The 1rtrins literature suggests that leveraged Gtrg4ge in IS practices to avoid debt defaults, and firm managers that ffaulted on debt contracts may to manage company income to rvdl bvy costs resulting from covenant (Defond and Park, 1997).Table 4 5 rhows a significant relation (o:0.05) IS practices and debt financing fu hesian and Malaysian listed firms. finrting imply that in the current Goonomy, companies that have high may be at risk of bankruptcy if rc unable to make payments on their tl*Frd debt financing and they may also to find new lenders in the future. If oqany wishes to take out a new
debt
of
frE cffi hc fu
vitrir d HGa
lli Cfrl lcmtr Ly
bdle r h, knders will scrutinize several EEcs of whether the company is tuoring
will
demand that Lccps debt within reasonable borrtzries, because that high debt reliance managers to overcome debt ooreo.nt trrough IS practices (Ashari et al, 199{: Tseng and Lai, 2007).
i
too much and
its
@ages Crplny
Size and IS Practices
As shown in H3, this study hy@esized that there is a significant rUrimsnip between the IS practices and tb
coryany size. Previous studies found rhd 6e company size had an effect on
income smoothing behavior (Atik, 2009; Mansor and Achmad, 20A9; Nuryanah et al., 20L1). In this study, the firm size is measured by total assets, after taking logarithm. Logarithm is used_for reduce wide-ranging quantities to smaller scopes (O'Connel, 2005). Table 4 md 5 shows that for Indonesian listed firms, size have no significantly affect to IS practices since at o,:0.1, p: 0.227. These findings lead to the following interpretation, if companies entered into the worst financial situation that affected large and small companies; so management faced the same problems that the company perfonnance was down turn. Therefore managers had to maintain their performance with respect to some market expectations, such as the market income expectation, management (agent) selects optimal accounting procedures for. maximizing its benefits, this situation had led managers to engage in income smoothing practices. Therefore, this was the reason why firrr size had no significant relationship to IS practices. For Malaysian listed firms, size have significantly affect to IS practices since at o:0.1, p:0.054. Company Age and IS Practices Table 4 and 5 presents the result of the logistic regression for the effect of company age to IS practices. As shown in H4, this study hypothesized that there is a significant relationship between the IS practices and "the company age. For Indonesian and Malaysian listed firms all have significant relationship at o=0.05, with p= 0.034 for Indonesian listed firms and p- 0.047 for Malaysian listed firms, the explanation that most of the young or newly incorporated companies are the ones that may possibly have greater fluctuation or variations in income. This is because they are not yet matured and have less experience in their operations. O.n the other hand, older companies may not be involved in income smoothing since they ,11
=!:-3qS rodel erent the
ts to duce
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and
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(Theresia Trisanti)
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