Pengaruh Fundamental Makro Ekonomi terhadap Penghasilan Komprehensif Lain dan Persistensi Laba Komprehensif

Abstract

The application of fair value accounting in financial statements gives rise to other comprehensive income (OCI) as the difference between the historical value of assets (liabilities) and fair value. This study aims to provide empirical evidence of internal and external factors that affect OCI and persistence of comprehensive income, by examining the effects of exchange rate, interest, inflation, JCI, size, industry, leverage, financial assets, fixed assets, inventories, and sales on 504 companies IDX for the period 2016 -2020. The results show that exchange rate, interest, inflation, JCI have an effect on the aggregate OCI value and for each item. Firm size affects the occurrence of OCI from adjusting the fair value of assets and liabilities. OCI persistence level is the lowest among net income and comprehensive income. OCI mediates the effect of macroeconomic and internal factors on the persistence of comprehensive income. The novelty of this research is to provide empirical evidence of the causes of OCI. So far, accounting research has only examined the persistence of net income, while the persistence of comprehensive income is still rare, especially in Indonesia.

Can the Reclassification of Other Comprehensive Income Narrow the Opportunities for Creative Accounting: Earnings Management and Income Smoothing?

“…The characteristics of OCI based on research results in Indonesia include: its emergence is caused by internal and external factors, internal factors in the form of asset ownership, and external factors in the form of macroeconomics such as interest, inflation, and exchange rates, therefore OCI has low persistence and OCI has high volatility, higher than net income and comprehensive income [30]. OCI has a relevance value for users, which is indicated by its effect on stock returns [24] and its ability to predict future earnings [31], also, OCI reclassification can be used to assess future cash flow prospects [25].…”

Reclassification of Other Comprehensive Income, Earnings Management and Earnings Quality: Evidence from Indonesia

“…Further, the presentation of OCI with NI as CI, followed by the attribution of NI and CI to owners, transparently presents increases or decreases in equity from fair value accounting adjustments and increases in equity aside from owner contributions from the view of all-inclusive income as used by IFRS, which deserves to be recognised as income (Shi et al, 2017;Hodgson & Russell, 2014). OCI is ephemeral, highly dependent on the company's external conditions, fluctuating as temporary unrealised income (Kusuma, 2021a). However, it turns out that OCI affects company value which is proxied by the book value per share.…”

“…In contrast, examined companies listed on the Indonesia Stock Exchange between 2016-2019, suggesting that the attribution of earnings to owners could increase the value of information relevance of NI, OCI, and CI, indicated by the ability of earnings attribution to moderate the effect of NI, OCI, CI in predicting future earnings. Evaluation of the financial performance of comprehensive income is able to moderate the use of assets to firm value (Kusuma, 2021c;Kusuma & Saputra, 2022), predict future returns and tax avoidance (Kusuma & Rahayu, 2022;Murdiyanto & Kusuma, 2022;Robik et al, 2021).…”

Pengaruh Struktur Modal, Profitabilitas dan Akuntansi Manajemen Lingkungan Terhadap Nilai Perusahaan

“…Hal yang berubah drastis penyajian laporan keuangan di Indonesia pasca konvergensi tersebut adalah ditambahkannya informasi penghasilan komprehensif lainnya (OCI) dalam laporan laba rugi (Kusuma, 2017b). OCI ini adalah kenaikan atau penurunan nilai wajar aset atau utang dengan nilai perolehannya, penyajian dengan OCI dirasa lebih representatif karena OCI responsif terhadap kondisi makro ekonomi (Kusuma & Saputra, 2022). Karakteristik OCI ini antara lain, berpengaruh terhadap nilai perusahaan (Kusuma, 2021b), mampu memprediksi laba dan prediksi arus kas (Kusuma, 2020), dapat digunakan untuk manajemen laba (Robik et al, 2021), perataan laba dan tax avoidance (Kusuma & Rahayu, 2022), dan menilai kinerja keuangan komprehensif melalui modifikasi ROA (Kusuma, 2021a), ROE dan NPM (Murdiyanto & Kusuma, 2022).…”