Impairment in Value of Psak 7 Financial Accounting Standards, Classification of Accounting Measurements in Hedging Companies in the Banking Sector Due to Corona Virus

Abstract

The less difference between SAK and IFRS can provide benefits for stakeholders in commercial banks in Indonesia. Companies that have public accountability, regulators try to make the necessary regulatory infrastructure, especially in capital market transactions, as well as users of financial statement information can use or use financial accounting standards as a guide in improving the quality of information produced in financial statements. value, financial instruments, measurement classification, hedging in banking sector companies due to the corona virus. The results showed that the banking sector experienced a decline in value with the entry of the Corona Virus outbreak which lasted long enough so that the banking sector was depressed which resulted in the value of PSAK 71 changing the condition of banking financial statements so that risk hedges arise from certain risks that can affect profit and loss or comprehensive income. others, in the case of investments in equity instruments that the entity has selected to represent changes in fair value in other comprehensive income.

Analysis of the Implementation of PSAK 72, Return on Assets, Current Ratio and Company Size on Property Company Value

“…Signaling theory posits that management or agents acting as owners possess an advantage in providing signals in the form of information that accurately portrays the true state of the company (Spence, 1973;Yasar et al, 2020). Statement of Financial Accounting Standards Number 72 (PSAK) paragraph 1 states that the purpose of PSAK 72 is to establish the principles applied by entities to report information useful for users of financial statements about the nature, amount, timing, and uncertainty of income and cash flows arising from contracts with customers (Fery, 2022;Fransisca & Ahalik, 2021). An entity recognizes revenue to reflect the transfer of promised goods or services to a customer in exchange for the consideration to which the entity is entitled.…”

“…PSAK 72 concerning Income from Contracts with Customers and published by the Indonesian Accountants Association, became effective on January 1, 2020 (Fery, 2022). Early implementation of PSAK 72 was permitted, starting in 2018.…”

The Influence of Accounting Information System Implementation on Performance With Technology Acceptance Model (Tam) Approach in Public Service Agencies of Jambi Province

“…The BLU financial accounting system has been designed to provide information regarding BLU's financial status, its ability to obtain economic resources, and expenses over a specific timeframe. Additionally, it includes information about the origins and utilization of funds, budget execution, and adherence to regulatory requirements (Fery, 2022). The financial reports generated by BLU must adhere to relevant accounting standards and demonstrate features such as accrual basis, double-entry bookkeeping, and compliance with internal control principles in line with generally accepted business practices (Amriani & Iskandar, 2019).…”

The Effect of the Audit Committee and the Independent Board of Commissioners on Firm Value With Financial Performance as a Moderating Variable

“…Financial performance is a primary indicator for assessing a company's financial prowess, often through financial statements. Positive financial performance leads to higher company value (Fery, 2022). Maximizing company value is key to generating substantial profit and stakeholder welfare.…”