RELEVANSI NILAI PENGUNGKAPAN INSTRUMEN KEUANGAN PERBANKAN INDONESIA: TELAAH PSAK 60 (REVISI 2014)
Abstract
For go public banking entity, applying PSAK 60 (revised 2014) regarding disclosure of financial instruments in the financial statements is a necessity in order to provide information to readers of financial statements. Disclosure and presentation of information is a fundamental effort to provide information on financial statements for users of financial information. To be useful, accounting information must be relevant to meet the needs of users of financial statements in the decision making process. The purpose of this study is to examine the increased relevance of the value of disclosure of financial instruments after PSAK 60 (revised 2014) to banking company listed on the Indonesia Stock Exchange before and after PSAK 60 (revised 2014) is effective on 1 January 2015. The findings of this study indicated that somehow the quality of information disclosure of financial instrument has relevance to the decisions investors as reflected by the stock price. This is shown by the positive coefficient direction although the value of financial instrument disclosure coefficients shows the influence of financial instruments is not statistically significant, which indicates that the results of this study support the value relevance theory, whereby the higher level of financial instrument disclosure in the financial statements the higher the market value of equity firms.
References
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Scott, W. R. (2009). Financial Accounting Theory. Toronto: Prentice-Hall International. Sengupta, P. (1998), “Corporate disclosure quality and the cost of debt”, The Accounting
Review, Vol. 73 No. 4, pp. 459-474.
Seow, G.S. and Tam, K. (2002), “The usefulness of derivative-related accounting disclosures”, Review of Quantitative Finance and Accounting, Vol. 18 No. 3, pp. 273-291.
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Supriyadi, M., dan Karamoy, H. (2016). Analisis Pengungkapan Informasi Aset Keuangan Berdasarkan PSAK 60 Pada Bank Central Asia Tbk. Jurnal EMBA Vol.4 No.1
Wang, L., Alam, P. and Makar, S. (2005), “The value relevance of derivative disclosures by commercial banks: a comprehensive study of information content under SFAS No. 119 and 133”, Review of Quantitative Finance and Accounting, Vol. 25 No. 4, pp. 413-427.
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Barth, M.E. (1994), “Fair value accounting: evidence from investment securities and the market valuation of banks”, The Accounting Review, Vol. 69 No. 1, pp. 1-25.
Barth, M.E., Beaver, W.H. and Landsman, W.R. (1996), “Value-relevance of banks‟ fair value disclosures under SFAS No. 107”, The Accounting Review, Vol. 71 No. 4, pp. 513-537.
Barth, M.E. (2000) Valuation-Based Accounting Research: Implications for Financial Reporting and Opportunities for Future Research, Accounting and Finance, 40, 7-31.
Barth, M.E., Beaver, W.H. and Landsman, W.R. (2001) The Relevance and Value Relevance Literature for Financial Accounting Standard Setting: An Another View, Journal of Accounting and Economics, 31, 77-104.
Barth, M. E., Landsman, W. R. & Lang, M. (2008). International Accounting Standards and Accounting Quality. Journal of Accounting Research, 46, 467–498.
Bonetti, Pietro, Marco Maria Mattei, Fabrizio Palmucci, 2012. “Market Reaction To the Disclosures On Currency Risk Under IFRS 7”. Academy of Accounting and Financial Studies Journal ISSN: 1528-2635 Volume 16, number 3.
Botosan, C.A. (1997), “Disclosure level and the cost of equity capital”, The Accounting Review, Vol. 72 No. 3, pp. 323-349.
Francis, J. and Schipper, K. (1999), “Have financial statements lost their relevance?”, Journal of Accounting Research, Vol. 37 No. 2, pp. 319-352.
Francis, J., LaFond, R., Olsson, P.M. and Schipper, K. (2004), “Costs of equity and earnings attributes”, The Accounting Review, Vol. 79 No. 4, pp. 967-1010.
Gebhardt, G. (2012), “Financial instruments in non-financial firms: what do we know?”, Accounting and Business Research, Vol. 42 No. 3, pp. 267-289.
Gelb, D.S. and Zarowin, P. (2002), “Corporate disclosure policy and the informativeness of stock prices”, Review of Accounting Studies, Vol. 7 No. 1, pp.33-52.
Ghozali, Imam, (2013), Aplikasi Analisis Multivariat dengan Program IBM SPSS 21. Edisi 7, Penerbit Universitas Diponegoro, Semarang.
Gujarati, D.N, (2012), Dasar-dasar Ekonometrika, Terjemahan Mangunsong, R.C., Salemba Empat, buku 2, Edisi 5, Jakarta
Hassan, M.S. and Mohd-Saleh, N, (2010), “The value relevance of financial instruments disclosure in Malaysian firms listed in the main board of Bursa Malaysia”, International Journal of Economics and Management, Vol. 4 No. 2, pp. 243-270.
Hassan, M.S.B., Percy, M. and Stewart, J.D. (2006), “The value relevance of fair value disclosures in Australian firms in the extractive industries”, Asian Academy of Management Journal of Accounting and Finance, Vol. 2 No. 1, pp. 21-41.
Hodder, L., P. Hopkins, and J. Wahlen. (2006). Risk-relevance of fair value income measurement for commercial banks. The Accounting Review 81(2):337-375.
Ikatan Akuntan Indonesia, (2015). Standar Akuntansi Keuangan. Cetakan pertama. Dewan Standar Akuntansi Keuangan Ikatan Akuntansi Indonesia, Jakarta.
Khurana, I.K. and Kim, M.-S. (2003), “Relative value relevance of historical cost vs fair value: evidence from bank holding companies”, Journal of Accounting and Public Policy, Vol. 22 No. 1, pp. 19-42.
Kieso, Donald E., Weygandt, Jerry J., and Warfield, Terry D. 2014. Intermediate Accounting: IFRS Edition, 2nded. New Jersey: John Wiley & Son Inc.
Laux, C. and Luez, C. (2009), “The crisis of fair value accounting: making sense of the recent debate”, Accounting, Organizations and Society, Vol. 34 Nos 6-7, pp. 826-834.
Li, S. and Gao, S. (2007), “The usefulness of derivative-related disclosure: evidence from major Australian banks”, International Journal of Accounting, Auditing and Performance Evaluation, Vol. 4 No. 3, pp. 248-262.
Muthupandian, K S, (2012). “IFRS 7 Financial Instruments: Disclosures – A Closer Look”.
Munich Personal RePEc Archive Paper. https://mpra.ub.uni-muenchen.de/36723.
Ohlson, J.A. (1995), “Earnings, book values, and dividends in equity valuation”, Contemporary Accounting Research, Vol. 11 No. 2, pp. 661-687.
Pangkey, ZJS., Kalangi, L., dan Lambey, R. (2016). Evaluasi Penerapan Pengungkapan Informasi Aset Keuangan Menurut PSAK 60 Pada Bank Negara Indonesia (Persero) Tbk. Jurnal Riset Akuntansi Going Concern Vol.11 No.2
Pinasti, Margani. (2004). Faktor-faktor yang Menjelaskan Variansi Relevansi-Nilai Informasi Akuntansi: Pengujian Hipotesis Informasi Alternatif. Simposium Nasional Akuntansi VII, 2-3 Desember 2004.
Puspitaningtyas, Zarah. (2012). Relevansi Nilai Informasi Akuntansi dan Manfaatnya Bagi Investor. Ekuitas: Jurnal Ekonomi dan Keuangan, 164-183
Rotty, R., Kalangi, L., dan Pangerapan, S. (2016). Analisis Pengungkapan Informasi Aset Keuangan Menurut PSAK 60 Pada Bank Tabungan Pensiun Nasional Tbk. Jurnal EMBA Vol.4 No.1
Schrand, C.M. and Elliott, J.A. (1998), “Risk and financial reporting: a summary of the discussion at the 1997 AAA/FASB conference”, Accounting Horizons, Vol. 12 No. 3, pp. 271-282.
Scott, W. R. (2009). Financial Accounting Theory. Toronto: Prentice-Hall International. Sengupta, P. (1998), “Corporate disclosure quality and the cost of debt”, The Accounting
Review, Vol. 73 No. 4, pp. 459-474.
Seow, G.S. and Tam, K. (2002), “The usefulness of derivative-related accounting disclosures”, Review of Quantitative Finance and Accounting, Vol. 18 No. 3, pp. 273-291.
Sugiyono. (2014). Metode Penelitian Pendidikan Pendekatan Kuantitatif, Kualitatif Dan R&D. Bandung: Alfabeta.
Supriyadi, M., dan Karamoy, H. (2016). Analisis Pengungkapan Informasi Aset Keuangan Berdasarkan PSAK 60 Pada Bank Central Asia Tbk. Jurnal EMBA Vol.4 No.1
Wang, L., Alam, P. and Makar, S. (2005), “The value relevance of derivative disclosures by commercial banks: a comprehensive study of information content under SFAS No. 119 and 133”, Review of Quantitative Finance and Accounting, Vol. 25 No. 4, pp. 413-427.
Yasean Tahat T. Dunne S. Fifield D. Power , (2016)," The value relevance of financial instruments disclosure: evidence from Jordan ", Asian Review of Accounting, Vol. 24 Iss 4 pp. 445 - 473
Published
2018-10-18
How to Cite
Karim, N. K., Sasanti, E. E., Indriani, E., Lenap, I. P., & Widyastuti, W. (2018). RELEVANSI NILAI PENGUNGKAPAN INSTRUMEN KEUANGAN PERBANKAN INDONESIA: TELAAH PSAK 60 (REVISI 2014). Jurnal Riset Akuntansi Aksioma, 17(1), 056 - 071. https://doi.org/10.29303/aksioma.v17i1.26
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