Cost-Benefit Analysis of IFRS Based PSAK Implementation

  • Yoko Karundeng
  • Ari Budi Kristanto Akuntansi, Fakultas Ekonomika dan BisnisUniversitas Kristen Satya Wacana

Abstract

The purpose of  IFRS convergence is to increase the quality of accounting information on financial statements. However, it takes cost to implement the latest PSAK which is in accordance with IFRS. In addition to cost, it is expected that the benefits obtained will be greater. This study aims to analyze the cost-benefits that arise due to the application of PSAK which based on IFRS. Public companies registered on the Indonesia Stock Exchange in 2015 and 2016 are the object of this study. The research sample was selected using purposive sampling method with specified criteria. Cost measurement uses score weights based on change categories due to the use of new PSAK, such as re-recognition, re-measurement or reclassification. While the benefits of IFRS are measured by the relevance of the value proxied by the determination coefficient of the regression function in the price model. Furthermore, based on the cost-benefit ratio analysis, the results show that in general the benefits of applying PSAK based on IFRS in Indonesia are higher than the cost. Only a small group of companies found that the cost of implementing PSAK was not comparable to the benefits.

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Published
2021-07-29
Section
Articles