EL MUHASABA: Jurnal Akuntansi (e-Journal)
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JANUARY EFFECT DAN SIZE EFFECT PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA
Get PDFAbstract Capital market is called efficient if the prices in the market reflect all the information that may be obtained by investors. In the efficient market there is no possibility to obtain abnormal returns, although in practice there are things that are deviant, called anomalies. This study aims to examine and analyze the existence of the January Effect and Size Effect on stock returns in the Indonesia Stock Exchange (BEI) in 2007-2012. The method used is to test whether there are differences in the value of Average Abnormal Return (AAR) before and after January 1, to investigate the January effect, and statistical tests used independent T-test. While to examine whether there is the Effect Size see whether differences Average Cumulative Abnormal Return (ACAR) between small capitalization stocks with large capitalization stocks in January and statistical tests used paired T-test. The results of this study prove that there is no January Effect and Size Effect on test periods. Keywords: January Effect, Effect Size, Average Abnormal Return, Cumulative Average Abnormal Return Abstrak Pasar modal disebut efisien bila harga-harga dalam pasar tersebut mencerminkan semua informasi yang mungkin diperoleh investor. Pada pasar yang efisien tidak ada kemungkinan memperoleh tingkat pengembalian abnormal, meskipun dalam prakteknya terdapat hal-hal yang menyimpang, yang disebut anomali. Penelitian ini bertujuan untuk menguji dan menganalisis adanya eksistensi January Effect dan Size Effect pada return saham di Bursa Efek Indonesia (BEI) tahun 2007-2012.Metode penelitian yang digunakan adalah dengan menguji apakah terdapat perbedaan nilai Average Abnormal Return (AAR) sebelum dan sesudah tanggal 1 Januari untuk mengetahui adanya January Effect, dan tes secara statistik digunakan Uji-T independen. Sedangkan untuk menguji apakah terdapat Size Effect adalah dengan melihat apakah perbedaan Average Cumulative Abnormal Return (ACAR) antara saham kapitalisasi kecil dengan saham kapitalisasi besar pada Bulan Januari dan tes secara statistik digunakan Uji-T berpasangan. Hasil dari penelitian ini membuktikan bahwa tidak terjadi January Effect dan Size Effect pada periode uji. Kata Kunci: January Effect, Size Effect, Abnormal Return, Average Abnormal Return, Average Cumulative Abnormal Retur
SUBYEKTIVITAS AUDITOR JUDGMENTS SEBAGAI BAGIAN DARI PROFESIONALISME
Get PDFThis paper attempts to provide a descriptive explanation of auditor’s judgments as a part of audit process. By using information from research and her personal experiences, the author provide a different way to understand the nature of auditor’ subjectivity. According to standards established by Institute of Certified Public Accountant, auditor is required to perform audit using his/her professional judgment. The word ”professional judgments” appear in every chapter of this standard. Auditor ’opinion is expected to be objective and free from personal auditor’ subjectivity. Although, the ”judgment” is very closely related to ideas, calculation and even the result of contemplation. Behind the screen of judgment making could not be separated from the condition of auditor. There is no perfection objectivity in a judgment. Therefor, subjectivity in audit judgment are necessity. However, judgment based on knowledge, experience, morality, common sense and conscience is accountable judgment
TAX PLANNING DENGAN PEMILIHAN BENTUK BADAN USAHA PADA PERUSAHAAN PERSEORANGAN
No full textTax Planning is one of the ways to minimize the tax burden within the company including in the selection of the proper form of business to run the company's business, namely with the mepertimbangkan of tariff revenue, a reduction in taxable income (PKP), the liability of income recognition, bookkeeping, tax collection obligations, and accountability of tax debt. Minimization of tax burden can be done in various ways, ranging from a still frame of the taxation to which break the rules of taxation.Tax planning that has made the company especially with elections to form a business entity. This type of research is qualitative, descriptive. The results of this research indicate that cigarette companies do business entity forms of election to save taxes by choosing the form of individual business entities. The magnitude of the rate of income tax that will be payable every year between Individual Taxpayers with the tax payers the Agency is different, i.e. Individual Taxpayers using Taxpayer tariff progersif while the Agency using the fixed fee. Individual companies have had some keuntunngan among other things a faster decision making does not take into account the interests of many parties
PENGARUH KOMPETENSI, INDEPENDENSI DAN UKURAN AUDITEE TERHADAP KUALITAS AUDIT
Get PDFThis study examines and analyzes the influence of competence, independence and the size of the auditees on audit quality. Audit quality is defined as the probability that the auditor will both discover and report a breach in the client’s accounting system. Drivers of audit quality-a framework are : culture within the firm, the skills and personal qualities of audit partners and staff, the effectiveness of the audit process, the reliability and usefulness of audit reporting, factors outside the control of auditors. Competence of auditors is adequate professional proficiency to perform inspection tasks and professional proficiency in the preparation of examination report. In this study, the competence dimension of competence using Certified General Accountant (CGA) are leadership, professionalism and professional knowledge. The independence is the mental attitude and appearance that is free from private interference, and external organizations. The independence consisting of: a long relationship with the auditees and the provision of non audit services and the pressure of the auditees, peer review of auditors. Auditee size is total assets and revenue of each county/city in Java. Using the random sampling method, the research tries to collect some inportant information given by respondents. Questionaire is a tool used to measure the variables. The hypotheses were tested with SPSS. The sample of this study is the Chairman of the audit team LKPD 2010 on the BPK RI in Java. Data obtained by spreading 118 and a total of 110 questionnaires are returned and processed feasible. The results partially demonstrate competence and independence affect audit quality, while the size of the auditee does not affect audit quality. Researchers can then add other indicators in the variable size of auditees such as number of population and area, total spending, the number of programs and activities within one year
COMMUNITY DEVELOPMENT BASED ONIBNU KHALDUN THOUGHT, SEBUAH INTERPRETASI PROGRAM PEMBERDAYAAN UMKM DI BANK ZAKAT EL-ZAWA
Get PDFThe aim of this research is to explain empowering small and medium enterprises model wich is interpreted from community development based on Ibnu Khaldun thought that reserved as the solution from el-Zawa’s technical constraints. The concept of development of those societies three lays of the basic principal, that are: individual, ashabiyah dan ijtima’ al-insan.This concept used in order to improving the quality and comprehensive and sustainable benefit. El-Zawa are the institutions established by Maulana Malik Ibrahim Islamic State University of Malang in order to collecting and managing funds of zakat, infaq, shadaqah, and waqf then spend that in societies economy empowering program. Qualitative research useful for a direct view of reality of field and collected information on power, potential and obstacle faced. The technique of using methode of Miles with three phases: data reduction, data display and drawing conclusions or verification. With the existence of this system, el-Zawa role in societies economy development will increase and able to solve the problems and having a very potential sector and significant in the Indonesian economy
PENERAPAN SISTEM MANAJEMEN STRATEGI BERBASIS BALANCE SCORECARD PADA ORGANISASI SEKTOR PUBLIK
Get PDFAbstract Management strategies has become an important issue for the public sector. Management strategies can be understood as the process of selection and implementation strategies. In this paper tries to provide an alternative thinking in the management of performance improvement strategies for the public sector through the balanced scorecard. Balanced Scorecard is not only used by private sector organizations but also public sector organizations. Public sector organizations are organizations that provide services to people with not-for- profit purposes. To be used by public sector organizations, the balanced scorecard should be modified. This paper also discusses how to build a balanced scorecard, include determining strategic objectives, targets to be achieved as well as initiatives, and implementing balanced scorecard in public sector organizations. The concept is applied in a balanced scorecard, which the visio, mission, strategy translates the strategic management approach through a financial perspective, customer, internal business processes, learning and growth. Keywords: balanced scorecard, strategy management, public sector organizations Abstrak Manajemen strategi telah menjadi isu penting bagi sektor publik. Manajemen strategi dapat dipahami sebagai proses pemilihan dan penerapan strategi-strategi. Didalam paper ini mencoba menyajikan alternatif pemikiran didalam peningkatan performansi manajemen strategi untuk sektor publik melalui balanced scorecard. Balanced scorecard tidak saja digunakan oleh organisasi sector swasta tetapi juga organisasi sector publik. Organisasi sektor publik adalah organisasi yang menyediakan jasa pada masyarakat dengan tujuan bukan untuk mencari profit. Untuk dapat digunakan oleh organisasi sektor publik, balanced scorecard tersebut harus dimodifikasi. Paper ini juga membahas bagaimana membangun balanced scorecard, meliputi menentukan tujuan strategis, target yang ingin dicapai serta inisiatif, dan mengimplementasikan balanced scorecard pada organisasi sector publik. Konsep yang diterapkan dalam balanced scorecard, dimana visi, misi, strategi diterjemahkan dengan pendekatan manajemen strategik melalui perspektif keuangan, pelanggan, proses bisnis internal, pertumbuhan dan pembelajaran. Kata kunci: balanced scorecard, manajemen strategi, organisasi sektor publi
PENGARUH UKURAN PERUSAHAAN, PROFITABILITAS, UKURAN DEWAN KOMISARIS, DAN LEVERAGE TERHADAP LUAS PENGUNGKAPAN GOOD CORPORATE GOVERNANCE (Studi Empiris Perusahaan Manufaktur di BEI Tahun 2008–2012)
Get PDFTitle: [The Effect of Company Size, Profitability, Commissioner Board Size and Leverage on Widespread Disclosure of Good Corporate Governance: Empirical Study on Manufacturing Companies are Listed in IDX among Year 2008-2012]Corporate Governance is sets of rules that affect management to create a strong system and firm structure. This study was conducted to analyze the factors that affect the wider corporate governance disclosure in annual report on manufacturing companies in Indonesia Stock Exchange (IDX). This research is descriptive quantitative research. The data used are secondary data companies that listed on the Stock Exchange from the period 2008 to 2012. Factors tested in this research were firm size, profitability, board size, and leverage. Sampling methods used in this research was purposive sampling. The analysis technique is used multiple linear analysis methods for Hypothesis testing. The results of this study indicate that partially independent variables that significantly influence the broad disclosure of corporate governance is the profitability and leverage. Profitability variables have a significant effect because the companies with high profit companies have a responsibility to disclose more information even as the number of interested stakeholders. While the leverage effect is also significant because the company with high leverage levels will disclose more information to creditor’s necessity with the result that reduces the supervision’s cost. Whereas no effect was variable firm size and board size. The variable size of the company does not have a significant effect because the large-sized companies are more likely to have greater agency problems anyway, so it needs more stringent good corporate governance mechanism, especially in manufacturing companies with different levels of difficulty with other types of companies. While the board size variable is also not significant because the number of commissioners would effect to then many entries received by directors and will effect the decision of the board of directors. Independent variables can explain the widespread influence of corporate governance disclosure by 33.2% while the remaining 66.8% can be explained by factors beyond research
PENGARUH SIKLUS HIDUP DAN UKURAN PERUSAHAAN TERHADAP EARNING MANAGEMENT PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA
Get PDFTitle: [Life Cycle and Company Size Effect on Earning Management of Corporates are Listed on Indonesia Stock Exchange]The study goal was to determine whether there is influence of the life cycle and firm size on earnings management in companies listed on the Stock Exchange Indonesia. Data tehnique collection is done by purposive sampling. The data used in this study is secondary data, engineering data collection is done by purposive sampling. The total sample of 78 manufacturing companies. The results showed that the life cycle variables significant positive effect on earnings management practices while the firm size variable is not significant effect on earnings management practices. In general it can be concluded that the only variable that has a life cycle just significant positive effect on earnings management. Subsequent researchers expected to add other factors influence earnings management as another independent variable, because it is possible that other factors not included in this study influence the practice of earnings management
MENCAPAI KEUNGGULAN BERSAING DENGAN STRATEGI DIFERENSIASI
Get PDFAbstract A strategy is needed because of the competition and the right strategy is to win the competition . Porter (1980) argued that the formulation of competitive strategy is to connect the company with its environment . Although the relevant environment is very broad , encompassing social forces as well as economic forces , the main aspects of the environment are industrial companies or industries in which the company competes . There needs to be a strategy known as generic strategy is the fundamental way for the company to achieve profitability above the industry average by having a sustainable competitive advantage . The strategy consists of : cost leadership strategy (cost leadership), differentiation strategy (differentiation), and a strategic focus (focus either cost leadership or differentiation focus). This article focuses on diferensisi strategy for achieving competitive advantage of a company. Some previous article that discussed the effect of differentiation strategy on competitive advantage , stating that the differentiation strategy to significantly affect a company's competitive advantage . Understanding the importance of differentiation strategies companies can make a difference with its competitors , so as to compete in a more competitive market , and could win the competition . This research can help companies that already distinguishes itself with competitors , may further reinforce and communicate the difference . Keywords: generic strategy, differentiation strategy, competitive advantage Abstraksi Suatu strategi dibutuhkan karena adanya persaingan dan strategi yang tepat adalah bagaimana memenangkan persaingan. Porter (1980) menyatakan bahwa perumusan strategi bersaing adalah menghubungkan perusahaan dengan lingkungannya. Walaupun lingkungan yang relevan sangat luas, meliputi kekuatan-kekuatan sosial sebagaimana juga kekuatan-kekuatan ekonomi, aspek utama dari lingkungan perusahaan adalah industri atau industri-industri dalam mana perusahaan tersebut bersaing. Perlu adanya strategi yang dikenal dengan strategi generik yang merupakan cara mendasar bagi perusahaan untuk mencapai profitabilitas diatas rata-rata industri dengan memiliki sustainable competitive advantage. Strategi tersebut terdiri dari : strategi kepemimpinan biaya (cost leadership), strategi diferensiasi (differentiation), dan strategi focus (baik focus kepemimpinan biaya ataupun focus diferensiasi). Artikel ini lebih memfokuskan pada strategi diferensisi untuk mencapai keunggulan bersaing suatu perusahaan. Beberapa artikel sebelumnya yang membahas mengenai pengaruh strategi diferensiasi terhadap keunggulan bersaing, menyatakan bahwa strategi diferensiasi secara signifikan mempengaruhi keunggulan bersaing suatu perusahaan. Memahami pentingnya strategi diferensiasi perusahaan dapat menciptakan perbedaan dengan pesaingnya, sehingga mampu bersaing di pasar yang lebih kompetitif, dan bisa memenangkan persaingan. Penelitian ini bisa membantu perusahaan yang sudah membedakan dirinya dengan pesaing, dapat lebih mempertegas dan mengkomunikasikan perbedaannya. Kata kunci : strategi generik, strategi diferensiasi, keunggulan bersain
FENOMENOLOGI PRAKTIK TAX PLANNING PADA WAJIB PAJAK BADAN
Get PDFTitle: [The Phenomenology of Tax Planning Practice by Corporate Taxpayer]This study aims to reveal the meaning of the tax planning practice undertaken by the taxpayer. The meaning excavations carried out not only on the taxpayer, but also carried on the tax consultant. This is done because the tax consultant besides as a taxpayer also serves more than one taxpayer, so the meaning of tax planning practice undertaken by the taxpayer who obtain able much deeper. Transcendental phenomenology research method used in this study to reveal the related phenomena to the reason for the tax payers do tax planning practice. The results found that there are five reasons tax payers do tax planning practice, tax planning is permitted by the Act, the preferred business goals is to maximize the operating profit after taxes, the lack of fairness in taxation, especially in collecting tax, the existing tax system that makes taxpayer less comfortable, and the dualism obligation make taxpayers more likely to run a religious charity than pay taxes