artikel poppy-82 editan - NILAI TAMBAH KANDUNGAN INFORMASI...

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SIMPOSIUM NASIONAL AKUNTANSI VI Surabaya, 16 – 17 Oktober 2003 NILAI TAMBAH KANDUNGAN INFORMASI LABA DAN ARUS KAS OPERASI POPPY DIAN INDIRA KUSUMA Purwokerto ABSTRAK Prior studies have documented inconclusive evidence on the incremental information content of cash flows from operations. The objectives of this study are to investigate the incremental information content of earnings and cash flows from operations beyond the other, and to investigate whether the incremental information content of cash flows from operations increases when earnings are transitory. The sample of this study includes 665 firm-year observations listed in the Jakarta Stock Exchange during 1995 to 2000. The sample is not restricted to any industry. The results of this study show the incremental information content of cash flows from operations beyond earnings, but fail to show the incremental information content of earnings beyond cash flows from operations. Prior studies suggest that the incremental information content of cash flows from operations increases, with an increase in the transitory components in earnings. Our result support that notion for the result of this study shows the incremental information content of cash flows from operations when earnings are predominantly transitory. The implication of these results suggest the importance of some of the other nonearnings data as relevance informations for investors. Keywords: The incremental information content, Transitory components, Earnings, Cash flows from operations. 1. Pendahuluan Pelaporan keuangan merupakan salah satu wujud pertanggungjawaban manajemen atas pengelolaan sumber daya perusahaan kepada pihak-pihak yang berkepentingan terhadap perusahaan selama perioda tertentu. Terdapat dua tujuan pelaporan keuangan menurut Statement of Financial Accounting Concepts (SFAC) No. 1. Pertama, memberikan informasi yang bermanfaat bagi investor, investor potensial, kreditor dan pemakai lainnya untuk membuat keputusan investasi, kredit dan keputusan serupa lainnya. Kedua, memberikan informasi tentang prospek arus kas untuk membantu investor dan kreditur dalam menilai prospek arus kas bersih perusahaan (FASB, 1987). Pada mulanya pelaporan keuangan hanya terdiri dari neraca dan laporan laba rugi. Pada tahun 1963, Accounting Principal Board (APB) mengeluarkan Opinion No. 3 yang merekomendasikan pelaporan perubahan posisi keuangan dalam laporan keuangan tahunan, tetapi sifatnya tidak wajib. Pada tahun 1971, pelaporan perubahan posisi keuangan tersebut diwajibkan oleh Security Exchanges Comitee (SEC). Menanggapi sikap SEC, dikeluarkanlah Opinion No. 19 untuk menggantikan Opinion No. 3 yang mewajibkan pelaporan perubahan posisi keuangan. Pada tahun 1987 barulah FASB mewajibkan pelaporan arus kas sebagai pengganti laporan perubahan posisi keuangan melalui Statement of Financial Accounting Standards (SFAS) No. 95 . Di Indonesia, pelaporan arus kas mulai diwajibkan pada tahun 1994, dengan
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artikel poppy-82 editan - NILAI TAMBAH KANDUNGAN INFORMASI...

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