Professional Documents
Culture Documents
Earning Management
Sesi 1
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
1. Memahamkan pengertian Manajemen Laba (Earnings ManagementEM) 2. Memahamkan pola manajemen laba (EM) 3. Memahamkan motivasi manajemen laba. 4. Memahamkan implikasi manajemen laba (EM) 5. Menelusur referensi berkenaan dengan manajemen laba (EM)
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
EARNINGS MANAGEMENT--EM
earnings management = Creative accounting adl
Euphemisme (penyimpangan) Yg merujuk pd praktik akuntansi yg mengikuti apa yg tertulis pd aturan (letter of the rules) praktik akuntansi standar, tetapi sebenarnya menyimpang dari SPIRIT aturan tsb.
EM ditunjukkan dg komplikasi eksesif dan penggunaan cara asli yang mencirikan laba, aset, kewajiban, dan usaha unt mempengaruhi ke arah interpretasi yg diingini oleh manajemen. Istilah lain= "innovative" atau "aggressive"
(Source: wikipedia.org)
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
EARNINGS MANAGEMENT--EM
EM umumnya dipahami sbg kesalahan (misrepresentation) sistematik dari LABA dan aset yg benar persh. "Creative accounting" berada pd akar dari sejumlah SKANDAL akuntansi dan beberapa proposal unt reformasi akuntansi, yg umumnya berpusat pd analisis pembaruan atas modal dan faktor produksi yg akan merefleksikan scr benar bagaimana bernilai tambah Media tlh memperkirakan bhw pasar saham mengalami penurunan (downturn) pd th 2002 yg disebabkan oleh laporan penyimpangan akuntansi di Enron, Worldcom, dan pershn lain di US.
(Source: wikipedia.org)
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
EARNINGS MANAGEMENT--EM Metode operasi & akuntansi diskresionari untk menyesuaikan hasil yg DIINGINKAN Insentif manajemen untk memodifikasi laba dlm kepentingan terbaik yg ia miliki Manipulasi laba meliputi manajemen laba agresif dan kejahatan (fraud)
(Source: acct.tamu.edu/giroux)
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
EARNINGS MANAGEMENT--EM
Earnings management occurs when managers use judgment in financial reporting and in structuring transactions to alter financial reports to either mislead some stakeholders about the underlying economic performance of the company or to influence contractual outcomes that depend on reported accounting numbers. [Healy and Wahlen (1999)]
(Source: leeds-faculty.colorado.edu/shanep/outreach/ )
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
EARNINGS MANAGEMENT--EM
Arthur Levitt, Chairman of the SEC (1998):
"Well, today, I'd like to talk to you about another widespread, but too little-challenged custom: earnings management. . . . Increasingly, I have become concerned that the motivation to meet Wall Street earnings expectations may be overriding common sense business practices. . . . In the zeal to satisfy consensus earnings estimates and project a smooth earnings path, wishful thinking may be winning the day over faithful representation. Managing may be giving way to manipulation; Integrity may be losing out to illusion.
(Source: leeds-faculty.colorado.edu/shanep/outreach/ )
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Pengontrakan:
unt memproteksi dr konsekuensi atas peristiwa tak diharapkan ketika kontrak sulit dipenuhi dan tak sempurna
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Memahami EM dpt meningkatkan pemahaman tentang kemanfaatan laba bersih, baik untuk pelaporan kpd investor maupun untuk pengontrakan
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Important Concepts
Accounting Choice: alternatif diskresionari untk melaporkan berbagai pos finansial, seperti metode depresiasi atau persediaan Income Smoothing: EM untk meratakan (smooth out) perilaku pendapatan dan laba yg tak terprediksi (erratic) Normalizing Income: melaporkan ulang hasil laba unt merefleksikan scr lbh baik realitas ekonomik Big Bath: Rugi besar (atau pengurangan laba lainnya) untk tujuan khusus, terkadang ketika rugi dilaporkan untk periode tertentu, akan meningkatkan perubahan laba lbh baik dlm periode berikutnya.
(Source: acct.tamu.edu/giroux)
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Implikasi bg Akuntansi
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
2. Minimalisasi Laba:
Slm periode profitabilitas tinggi, di U.S pertimbangan pajak Sama dg di atas hanya kurang ekstrem
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
(2) Bangun model unt memprediksi akrual total non diskresionari. (3) Estimasi akrual diskresionari sbgmana (1) dikurang (2).
(Source: leeds-faculty.colorado.edu/shanep/outreach/ )
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Evidence: Some Examples from the Academic Literature Banks strategically time sales of investments and manage their loan loss reserves (e.g., Collins et al. 1995 dan Beaver and Engel 1996). Firms cut R&D expenditures to avoid earnings declines if they have large institutional stockholders with momentum trading strategies and high portfolio turnover (Bushee 1998). Bidders pay target stockholders for accounting benefits in acquisitions accounted for as poolings (Robinson dan Shane 1990). When earnings management is detected, stock prices fall (e.g., Foster 1979, Dechow et al. 1995).
(Source: leeds-faculty.colorado.edu/shanep/outreach/ )
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
KONKLUSI
EM mungkin terjadi krn kenyataan bahwa GAAP tidak scr sempurna membatasi pilihan manajer atas kebijakan dan prosedur akuntansi Pilihan kebijakan akuntansi:
jauh lbh kompleks & menantang dp memilih scr sederhana unt menginformasikan terbaik unt investor Sering dimotivasi oleh pertimbangan strategis, e.g: mencapai harapan laba, kontrak yg tergantung pd variabel akuntansi keuangan, pajak, penerbitan shm baru, tawaran pengambil alihan, tekanan persaingan potensial, rilis informasi dlm perusahaan Memiliki karakteristik game, EM tercipta ketika perubahaan dlm GAAP scr berkebalikan mempengaruhi manajer bermain dlm game. Manajer akan bereaksi melawan perubahan aturan yag menurunkan fleksibilitas pilihan akuntansi manajer
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
KONKLUSI
Akuntan perlu menyadari atas kebutuhan legitimasi manajemen, seperti halnya investor Pelaporan keuangan aktual menyajikan suatu kompromi antara kebutuhan dari dua konstituen utama ini Walaupun menurunkan reliabilitas, EM berguna jika terjaga dlm batas-batas tertentu:
Memberi fleksibilitas pd manajer bereaksi ketika kontrak berat & tak sempurna Memberi media bagi komunikasi kredibel atas informasi dlm persh kepada investor dan bagi kontrak kompensasi efisien Dua argumen ini konsisten dg pasar efisien dan versi efisiensi PAT
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
KONKLUSI
Banyak mnjr menolak potensi komunikasi GAAP dg mendorong EM terlalu jauh, yg berakibat kekuatan laba persisten dilaporkan terlalu besar, setidaknya scr temporal
Krn gagal menerima efisiensi pasar atau Krn kemampuan menyembunyikan EM jelek di balik pengungkapan yg jelek, Krn keduanya
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
KONKLUSI
EM bagus atau jelek, tergantung pd bagaimana digunakan
Akuntan dpt mengurangi besarnya EM jelek dg mengungkapnya Pengungkapan ditingkatkan atas pos persistensi rendah & melaporkan efek dari penghapusan pencatatan (writeoffs) pd laba inti
Independent Study
Bandi, Dr., M.Si., Ak
Learning Objectives
1. 2. 3. 4.
Develop more powerful earnings management detection models. What accounts offer biggest opportunities for EM? What types of firms are most likely to engage in EM? What role does earnings management play in market anomalies and profitable trading strategies? 5. When does the market see through EM?
Fischer and Shane (2000) are exploring the degree to which the market sees through earnings management to avoid reporting losses. Shane and Stock (2000) are investigating the degree to which the market saw through tax-motivated income shifting.
(Source: leeds-faculty.colorado.edu/shanep/outreach/ )
Learning Objectives
Referensi
Scott, W. R. 2006. Financial Accounting Theory. Second Edition. Ontario: Prentice Hall Canada Inc. (Chapter: 11 Earnings Management) http://acct.tamu.edu/giroux/DEMSlides.ppt http:// leeds-faculty.colorado.edu/shanep/outreach/ Healy dan Whalen. 1999. Ssrn.com