Ilomata International Journal of Tax and Accounting
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Restaurant Accounting System Studies in Indonesia 2021-2022: A Systematic Literature Review
Get PDFThe purpose of this study is to determine whether the design of an accounting system in a restaurant or franchise business can provide benefits in realizing the creation of accounting reporting that has a positive impact on management. In this study, the application of accounting system design using accounting information system applications was taken from the results of research conducted by previous researchers on restaurants and franchise businesses. The study was conducted based on the literature review of the ten previous studies by making a summary of the results and conclusions. Some of the criteria used in selecting articles to be material in this study are as follows: the method used, trends and topics in related research, factors that influence financial reporting and the next best method used in writing financial reports.The design of an accounting information system using a PHP program and a MySQL database can help companies make financial accounting reports which include the calculation of profit and loss from restaurant companies. PHP applications and MySQL databases used by restaurant companies must comply with applicable accounting standards. Technical competence of employees needs to be given support from the top management of the company to receive special training in the use of financial accounting programs, so that the performance of accounting information systems can be measured for success. The involvement of users of the financial accounting information system program in the company has a positive impact on the performance of the financial accounting system
Effect of Investment, Free Cash Flow, Earnings Management, Interest Coverage Ratio, Liquidity, and Leverage on Financial Distress
Get PDFThis study aims to provide empirical evidence of the effect of investment, free cash flow, earnings management, interest coverage ratio, liquidity and leverage on financial distress. The dependent variable is financial distress as measured by the Altman Z-score. The independent variables are total assets growth as a proxy for investment, free cash flow, earnings management with modified Jones model, interest coverage ratio, leverage and liquidity. This study was tested using ordinal logistic regression analysis. The sample used in this study were manufacturing companies listed on the Indonesia Stock Exchange in 2016-2020. The sample in this study was selected using purposive sampling with a total of 392 observations. The results of this study indicate that free cash flow, interest coverage ratio and liquidity have a significant effect on financial distress, while investment, earnings management and leverage have no effect on financial distress. The implication of this research is to prove the signal theory and agency theory. The limitation of this study is that there are still errors of type I and II in classifying companies that experience financial distress and non-financial distres
Wealth Taxes on Individuals: An International Comparative Study
Get PDFCitizens contribute to the economy by creating wealth for themselves and in the way they use their assets. How assets, especially capital assets, are employed attracts tax and this influences how assets are used. In South Africa, tax policy is one of the drivers in the decisions that individuals make regarding the use or disposal of their assets. Wealth taxes are levied to address income disparities and mostly affect capital assets when they change ownership. This study compares developed and developing countries’ tax policies that impact capital assets when they are transferred or disposed of. The financial impact from using one’s assets drives economic participation. Previous studies found that tax policy is influential in economic participation. A literature study was performed analysing wealth taxes, academic literature and legislation and incorporated a case study to illustrate the tax consequences of capital assets changing ownership in Namibia, South Africa, India and Australia. The study found that, compared to the other countries, South Africa taxes capital transfer both upon change of ownership by way of sale, donation and death of the owner. This study makes a novel contribution to the understanding of and development of improved and internationally comparable wealth tax legislation to address the wealth tax consequences of asset transactions in South Africa
Searching For Tax Revenue Determinants in N-11: The Moderating Role of Regulatory Quality
Get PDFThis study aimed to analyze the effects of the agricultural sector and the Foreign Direct Investment (hereinafter referred to as FDI) on tax revenue in The Next Eleven (N-11) countries. In this research, a moderating variable of regulatory quality was used. The data were obtained from the World Bank and analyzed using panel data regression. The dependent variable in this study was tax revenue, whereas the independent variables comprised the agricultural sector, the FDI, the agricultural sector moderated by regulatory quality, the FDI moderated by regulatory quality, and the regulatory quality. The results indicate that all independent variables simultaneously affect tax revenue. However, when investigating partially, FDI, the agricultural sector moderated by regulatory quality, and regulatory quality have a positive effect on tax revenue while FDI moderated by regulatory quality shows a negative effect on tax revenue. As for the agricultural variable, a significant effect on tax revenue was not shown. It is recommended that governments in N-11 countries focus on developing quality regulations in another sector, particularly agriculture, and encourage foreign investments since these two aspects are proven to increase tax revenue
The Effect of Accrual Earnings Management and Real Earnings Management on Environmental, Social, and Governance (ESG) Reporting Performance
Get PDFThis research aims to offer empirical insights into variations in earnings management within companies categorized in the Environmental, Social, and Governance (ESG) score ranking, and seeks to establish a correlation between earnings management practices and Environmental, Social, and Governance (ESG) performance. The study scrutinizes accrual earnings management alongside real earnings management. The Environmental, Social, and Governance (ESG) score ranking comprises four categories: low, medium, high, and severe. Accrual earnings management is gauged through the modified Jones model, while real earnings management is assessed using three proxies ABNCFO, ABNPROD, and ABNDISC. The research focuses on manufacturing companies possessing Environmental, Social, and Governance (ESG) scores and adopts a purposive sampling approach. The outcomes reveal distinctions between ABNCFO and ABNPROD real earnings management in the severe and low ESG rating groups, whereas no differences exist in accrual earnings management and ABNPROD real earnings management. Additionally, the study establishes that ABNCFO and ABNDISC real earnings management significantly influence Environmental, Social, and Governance (ESG) performance positively. Conversely, accrual earnings management shows no adverse impact on Environmental, Social, and Governance (ESG) performance, and ABNPROD real earnings management exhibits a positive albeit insignificant effect on Environmental, Social, and Governance (ESG) performance. The practical implication of this research is that when the company has a high ESG score which reflects the uncertainty of the company's future operations, the company tends to carry out real earnings management in the form of abnormal cash flow operations (ABNCFO) and abnormal discretionary expenses (ABNDISC)
Financial Reporting and Audit Quality Impact on Investment Efficiency in Indonesian Transport and Logistics Companies
Get PDFThe purpose of this research is to determine the impact of financial statement quality and audit quality on companies in the transportation and logistics sector listed on the Indonesia Stock Exchange during the period 2018 to 2022, especially in the transportation and logistics sector. Based on the issues of investment inefficiency in the company, research is conducted to provide managers with insights to consider investment decisions based on several variables influencing investment efficiency. The purpose of this research is to determine the impact of financial reporting quality and audit quality on investment efficiency on companies in the transportation and logistics sector listed on the Indonesia Stock Exchange during the period 2018 to 2022. By applying the purposive sampling method as a sampling technique, the data used in this research is 24 companies. The total data used in this research included 120 observations based on certain criteria. The analysis method applied is multiple linear regression analysis. And the results show that the quality of financial reporting and audit quality have a positive and significant influence on the company's investment efficiency decisions
Fringe Benefits in Tax Law: Matching Principle and Tax Justice Perspective
Get PDFThis study addresses a significant issue within Indonesia's income tax policy, focusing on the taxation of fringe benefits and non-monetary compensations. Fringe benefits, being non-monetary rewards granted to employees, have gained prominence in various sectors' remuneration structures. The evolving landscape of in-kind taxation, encompassing natural elements, prompts inquiries into the determinants of tax imposition choices and their equity ramifications. The study aims to explore the income tax perspective on fringe benefits and non-monetary gains, emphasizing the applicability of the matching principle and its implications for equitable taxation. Despite the rising importance of fringe benefits, scholarly discourse on the alignment of conformity principles with in-kind taxes remains sparse. Therefore, this study offers a fresh contribution in comprehending this matter. Employing both a policy analysis and taxation approach, the study draws data from literature, tax statutes, and the latest economic reports. The findings underscore the significance of integrating the conformity principle in the taxation of fringe benefits and non-monetary rewards. This integration can augment the efficiency and transparency of state financial management, curbing detrimental tax avoidance practices that undercut state revenue. In summary, this study validates that adopting the conformity principle in taxing fringe benefits and non-monetary gains holds the potential to bolster state revenue and enhance fiscal management efficiency. The research's implications can guide policy makers in refining the national tax framework and fostering equitable taxation in Indonesia
Implementation of Financial Accounting Standards for Small and Medium Entities in Berastagi SMES, Karo District
Get PDFThis study aims to determine the application of accounting in Small, Micro and Medium Enterprises (MSMEs) and explain the barriers to business actors in applying accounting. This research is a descriptive qualitative research with data collection conducted through questionnaires and interviews. Object this research is MSME actors located in Berastagi District, Karo Regency. The data collected were 41 respondents using the purposive sampling technique. The results of the study show that most MSME actors do not know what to account for. The obstacle faced by business actors is the lack of socialization or training regarding accounting and SAK EMKM. The next obstacle is the lack of time to prepare financial reports, the assumption that financial reports are difficult to understand, and the low awareness of business actors to improve the presentation of financial reports by SAK EMK
A Framework For Boosting Revenue Generation From Land Taxes in Ogun State, Nigeria
Get PDFThe study developed a framework for boosting revenue generation from land taxes in Ogun State Nigeria. The choice of Ogun state was hinged on the fact that it is both an economically and an industrial state. It exhibits the dynamism of land activities traceable to land taxation. Data were collected through a well-structured questionnaire, personal interviews and review of government documents were also conducted. Questionnaires were administered to the 23 top management staff at the Board of Internal Revenue Services in Ogun State. Personal interviews were also conducted. Using the frequency table and SPSS to analyse, the result revealed that government does not have enough information on property, property owners and property transactions. These which affected the revenue from land taxed to fall-short. In conclusion, land titling should be made compulsory and at the same time be flexible, so that government can have access to property information which will in turn improve revenue mobilisation for the state government
Juridical Analysis of Tax Criminal Law Enforcement: an Overview of Legal Regulations and its Implementation in Indonesia
Get PDFThe purpose of this research is to conduct a juridical analysis of criminal law enforcement in the field of taxation in Indonesia. The focus of this study is to evaluate the effectiveness of legislation and its implementation in combating tax crimes. The research method used is a normative juridical approach by examining legislation related to tax crimes, including tax laws, government regulations, and relevant policies. Additionally, an analysis of the legal practices and enforcement of tax crimes in Indonesia is conducted. The research findings indicate that the legislation in the field of taxation has a strong foundation to address tax crimes. However, there are several challenges in its implementation, such as the complexity of tax regulations, lack of adequate human resources and technology, and corruption issues that can affect tax law enforcement. In this context, the research provides recommendations to strengthen the system of criminal law enforcement in tax matters. The recommendations include improving coordination among relevant institutions, enhancing the capacity of human resources in the field of taxation, utilizing information technology to support supervision and tax law enforcement, and increasing transparency and accountability in the process of tax law enforcement. This research is expected to provide a better understanding of the regulation of tax crimes and contribute to the policy and the legislative reforms related to tax law enforcement in Indonesia