Journal of Accounting and Investment
JAI receives rigorous articles that have not been offered for publication elsewhere. JAI focuses on the issue related to accounting and investments that are relevant for the development of theory and practices of accounting in Indonesia and southeast asia especially. Therefore, JAI accepts the articles from Indonesia authors and other countries. JAI covered various of research approach, namely: quantitative, qualitative and mixed method.
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<![CDATA[Taxing Celebrity Social Media Endorsements Income: A Preliminary Study of Instagram Celebrities ]]>
<![CDATA[Afrizal Tahar]]>;
<![CDATA[Listya Maharani Rizkia]]>;
<![CDATA[Eko Hariyanto]]>
<![CDATA[ Journal of Accounting and Investment Vol 21, No 3: September 2020 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.2103167
<![CDATA[This study investigates how tax treatment should be done for a celebrity of Instagram (Celebgram) income obtained from endorsement activities on social media. In detail, this study aims to find out how income from endorsement can be used as taxable income as well as to discover how a possible collection strategy can be executed. In addition, this study explores the perceptions of celebgrams regarding the application of tax to their endorsement income. Semi-structured interview was employed to obtain the data. Informants of the current study are tax official, tax consultants, tax academics, information technology experts, and five celebgrams. The results of this study reveal that celebgram income from endorsement can be taxable in the categories of income tax and value-added tax. The majority of the celebgrams agree if their income from endorsement would be taxed on as far as the level of fair and clear treatment. Furthermore, endorsement tax collection needs a special unit and support by a capable employee and adequate information technology.]]>
<![CDATA[The Role of Biological Asset Disclosure and Biological Asset Intensity in Influencing Firm Performance ]]>
<![CDATA[Evy Rahman Utami]]>;
<![CDATA[Aji Prabaswara]]>
<![CDATA[ Journal of Accounting and Investment Vol 21, No 3: September 2020 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.2103163
<![CDATA[Abstract:Research aims: The purpose of this study is to analyze the effect of biological asset intensity towards the company performance with biological asset disclosure as an intervening variable.Design/Methodology/Approach: The sample used in this study was firms engaged in the agricultural sector registered in Indonesia Stock Exchange 2015-2017 period. The sample selection method used was purposive sampling according to the required criteria. The analytical tools employed a mediation model based on path analysis using the software process.Research findings: The study results showed that biological asset intensity positively affected biological asset disclosure, biological asset intensity negatively affected the company performance, the biological asset disclosure positively affected the company performance, and the biological asset disclosure mediated the correlation between biological asset intensity and company performance.Theoretical contribution/ Originality: The biological asset disclosure mediated the correlation between biological asset intensity and company performance.Practitioner/Policy implication: This study is expected to encourage firms to be more concerned about biological asset disclosure to improve company performance. On the other hand, this study also helps the standard board see the biological asset disclosure in Indonesia considerably and develop the Indonesian Financial Accounting Standards Guidelines 69.Research limitation/Implication: This study used the Indonesian Financial Accounting Standards Guidelines 69, which is relatively new for companies that effectively implement these regulations.]]>
<![CDATA[Have Students Comprehended Investment? ]]>
<![CDATA[Paskanova Christi Gainau]]>
<![CDATA[ Journal of Accounting and Investment Vol 21, No 3: September 2020 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.2103162
<![CDATA[Research aims: This study aims to examine factors that influence stock investment intention among students.Design/Methodology/Approach: The population in this study are all individual student investors registered at the Indonesia Stock Exchange Investment Gallery in the North Sulawesi and Gorontalo Regions. Sample selection is based on the purposive sampling method. Data analysis was performed with SmartPLS 3.0 M3.Research findings: The results found that student attitudes are determined by employment opportunities in the capital market. In addition, attitudes and behavioral control also have significant effect on student intention. This is different with subjective norms which does not affect student investment intention.Theoretical contribution/ Originality: This research confirm that job opportunity influences students attitude in stock investment. The attitude and perceived behavioral control support students intention to invest stock in capital market. Subjective norms does not effect to students intention, in the context of students in the North Sulawesi and Gorontalo Regions.Practitioner/Policy implication: The implication is the universities need to make policies which is friendly with stock investment, such us Seminars, Workshops, Capital Market Schools, and Securities Traders Representative Courses (WPPE). The Indonesian Stock Exchange (Representative Office) and Exchange Members also need to increase an internship quota in order to support student investment intentions.Research limitation/Implication: This study only examines the stage of student intentions because the sample is student whose main activity is studying and the additional activity is investing.]]>
<![CDATA[Factors Affecting Accountability of Village Fund Management through Implementation of the Village Financial System (SISKEUDES) ]]>
<![CDATA[Icuk Rangga Bawono]]>;
<![CDATA[Anasti Dwi Martantya Kinasih]]>;
<![CDATA[Apriani Kartika Rahayu]]>
<![CDATA[ Journal of Accounting and Investment Vol 21, No 3: September 2020 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.2103160
<![CDATA[Research aims: This study has pupose to analyze the factors that consist of role and competence of village officials, village financial system implementation on the accountability of village fund management. In addition, this research examine application of village financial system as intervening variable.Design/Methodology/Approach: The quantitative method used in this study with a survey approach, by distribute questionnaire to village secretaries and heads of village financial affairs as respondents that spread in 182 village on Banyumas Regency, Central Java. From distributed questionnaire, totally 120 that can be processed with Partial Least Square approach.Research Finding: The result found that role of village officials, competence of village officials, and application of village financial system partially significant on the accountability of village fund management. The result also confirmed that role and competence of village officials partially significant on the accountability of village fund management through application of village financial system. This research construct able influence 77% of the accountability of village fund management variable.Theoretical Contribution/Originality: This research confirm implementation village financial system could mediate relationship between role and competence of village officials on the accountability of village fund management in study of governmental.Practitioner/Policy implication: The village government needs to encourage participation and competence of village officials in managing village fund management. Train officials about village financial system also needed to obtain better accountability about village management funds.Research limitation/Implication: This research was only undertaken in the scope of Banyumas regency. Therefore, the generalization ability of this study is limited.]]>
<![CDATA[The Ethical Perspective of Millennial Accountants in Responding to Opportunities and Challenges of Blockchain 4.0 ]]>
<![CDATA[Sendy Dwi Haryanto]]>;
<![CDATA[Erina Sudaryati]]>
<![CDATA[ Journal of Accounting and Investment Vol 21, No 3: September 2020 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.2103159
<![CDATA[Research aims: This study aims to provide a perspective on the professional ethics of a millennial accountant in applying blockchain technology to improve his professionalism, and discusses the issue of blockchain ethical challenges for an accountant's professionDesign/Methodology/Approach: A research approach is a qualitative approach with interviews with the millennial accountants, namely millennial corporate accountants, millennial research accountants, and millennial internal auditors.Research findings: The study results indicated that a millennial accountant in the 4.0 revolution era is required to adapt to technology. The blockchain technology extends the ethical approach to utilitarianism to a broader social level with decentralization in serving stakeholders’ information needs. Blockchain changes the task of millennial accountants who previously produced information into information evaluators. Millennial accountants must change their mindset to absorb the essence of the accountant's code of ethics and harmonize ethical values. It is the basis for acting ethically to avoid the moral dilemma of technological adaptation.Theoretical contribution/Originality: The contribution of this research for accountants is to build a moral-ethical perspective in adopting blockchain technology that prevents potential impacts on business and society and to describe the challenges that the accounting profession will face in adopting blockchain in the industrial revolution 4.0.Practitioner/Policy implication: The implications of this study illustrate that the blockchain can change perspectives in real-time accounting to reduce practitioners' mistakes from the accounting profession by considering the ethical and moral aspects of a millennial accountant.Research limitation/Implication: The limitation of this study is the first; it has not yet deepened the three challenges faced by millennial accountants in the revolutionary 4.0 era. Secondly, millennial educator accountants have not yet to be involved as interviewees.]]>
<![CDATA[The Association of Tax Aggressiveness on Accrual and Real Earnings Management ]]>
<![CDATA[Antonius Herusetya]]>;
<![CDATA[Cyrilla Stefani]]>
<![CDATA[ Journal of Accounting and Investment Vol 21, No 3: September 2020 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.2103158
<![CDATA[Research aims: This study examines the association of tax aggressiveness and earnings management practices using the accrual and real transaction-based earnings management.Design/Methodology/Approach: We use a purposive sampling method from the manufacturing industry listed on the Indonesia Stock Exchange (IDX) from 2013 to 2017 and obtain a final sample of 500 firm-year observations. Data analysis is conducted using multiple regression models and Stata software.Research findings: Our study finds strong evidence that tax aggressiveness has a positive association with accrual earnings management. Our study also finds contrary evidence that tax aggressiveness has a negative association with real transaction activities at the aggregate level. Further testing found a negative relationship between tax aggressiveness and real transactions at the individual level, i.e., sales manipulation and reduction in discretionary expenses, consistent with our main findings. Theoretical contribution/Originality: Our study extends previous studies on the association of tax aggressiveness using tax shelter prediction model, and aggressive financial reporting using accrual and real transaction-based earnings management. We use tax prediction model in this study as the highest level of tax aggressiveness which is rarely performed in the case of Indonesia.Practitioner/Policy implication: The results of this study provide the implication that to achieve the objectives of aggressive tax reporting and aggressive financial reporting in the same reporting period, managers use accrual and real transaction-based earnings management tools as complementary or substitution to each other.Research limitation/Implication: This study uses Wilson’s (2009) tax shelter prediction model as a proxy of the highest level of tax aggressiveness]]>
<![CDATA[Public Accounting and Business Accounting: Two Different Upstream ]]>
<![CDATA[Irwan Taufiq Ritonga]]>
<![CDATA[ Journal of Accounting and Investment Vol 21, No 3: September 2020 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.2103156
<![CDATA[Research aims: This article is a persuasive essay, written with motivation to change readers' perceptions of accounting for public organizations, especially government organizations. This article aims to provide arguments following detailed explanations that accounting of public organization and accounting of business organization stand on two different accounting-world.Design/Methodology/Approach: This article is a persuasive essay.Research findings: The differences between the two have started since the beginning of the formation of each organization, namely differences in motives and backgrounds of the formation of the organization, goals of the organization's establishment and how to achieve organizational goals, as well as the source and nature of organizational funding.Theoretical contribution/ Originality: These differences in the upstream give consequences differences in downstream, which are significant dissimilarities between the two accounting worlds on planning and budgeting aspects, financial reporting systems (financial accounting), managerial accounting, and auditing.Practitioner/Policy implication: This significant difference in accounting education implies that the curriculum of accounting education must be reconsidered by separating the public accounting curriculum and the business accounting curriculum.]]>
<![CDATA[Value Relevance of IFRS Adoption in ASEAN-5 Countries: Does Presentation Matters? ]]>
<![CDATA[Aria Farah Mita]]>;
<![CDATA[Sylvia Veronica Siregar]]>;
<![CDATA[Viska Anggraita]]>;
<![CDATA[Fitriany Amarullah]]>
<![CDATA[ Journal of Accounting and Investment Vol 21, No 3: September 2020 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.2103165
<![CDATA[Research aims: This study discusses a recent development in the adoption of International Financial Reporting Standard (IFRS) in ASEAN. The objective of this study is to examine the value relevance of the Other Comprehensive Income (OCI) after the revision of the International Accounting Standard (IAS 1) about the presentation of financial statements. Primarily, this study will examine whether the relocation of the OCI from the Statement of Changes in Owners' Equity to the Statement of Comprehensive Income will increase the value relevance.Design/Methodology/Approach: This study compares the value relevance of other comprehensive income (OCI) one year before and after the adoption of IAS 1 in each country. The study focuses on ASEAN 5 countries, namely Indonesia, Malaysia, Philippine, Singapore, and Thailand.Research findings: The result of the study found that the OCI has higher value relevance after the adoption of IAS 1.Theoretical contribution/ Originality:.This study extends previous studies around IFRS adoption, which mostly focused on European countries. The study about IFRS adoption in ASEAN countries is limited. This study presents a unique setting since most of the Countries in ASEAN adopted IAS 1 not in the same year as the year enacted by the IASB. This study will contribute to the recent development in accounting standard, which shows the adoption of IAS No. 1 as part of the IFRS adoption in ASEAN will increase the value relevance of the financial statement.Practitioner/Policy implication: This study will imply for the Practitioner and Policymakers that the benefits of IFRS adoption aimed to improve the quality of financial reports, so users can more easily and readily process that information about company performance.Research limitation/Implication: This study only focuses on total OCI. This study does not analyze the impact of the adoption of revised IAS 1 for each items of OCI, such as available for sale component, revaluation surplus or translation component. The result is consistent with the proponent of the IFRS adoption that the revision of IAS 1 will increase the usefulness of the financial statement.]]>
<![CDATA[Result-based Management Implementation in Higher Education Institution: Determinants and Impact on Performance ]]>
<![CDATA[Suryo Pratolo]]>;
<![CDATA[Arifin Hamsyah Mukti]]>;
<![CDATA[Misbahul Anwar]]>
<![CDATA[ Journal of Accounting and Investment Vol 21, No 3: September 2020 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.2103166
<![CDATA[Abstract:Research aims: This research is purposed to examine human resource quality impact, organizational commitment and reward and punishment system to RbM implementation. More over, this research also examined RbM’s impact to Higher Education Institution (HEI) Performance as well as RbM’s role as variabel intervening.Design/Methodology/Approach: Samples in this research were collected using convenience sampling method. This research uses survey method. Data in this research shall be primary data. Data collection method was executed by using questionnaire. Partial Least Square (PLS) technique was employed to test hypotheses proposed.Research findings: This research shows Human Resource Quality, Organizational Commitment as well as reward and punishment system are proven having positive and significant impacts to RbM’s implementation. Then RbM’S implementation is proven having impact to HEI Performance. Direct relationship to HEI Performance, Human Resource variable, Organisatonal Commitment, and reward and punishment system are not proven directly on HEI Performance, but specifically Human Resaource Quality, organizational commitment as well as reward and punishment system inderictly impact on HEI Performance via RbM implementation. It may be concluded that RbM implementation is much important to be realized then by increasing Human Resource Qualtiy, Organizatioinal Commitment as well as Reward and Punishment system are able to realize better HEI Performance.Theoretical contribution/Originality: This research is purposed to confirm goal setting theory related to RbM implementation in study context in HEI.Practitioner/Policy implication: This research result may become an input for HEI management to increase it performance via RbM policy implementation.Research limitation/Implication: This research may be executed in private HEI in eastern West Java.]]>
<![CDATA[Can the Ethical Orientation Mitigate the Manager’s Earnings Management? ]]>
<![CDATA[Priyastiwi Priyastiwi]]>;
<![CDATA[Sriwidharmanely Sriwidharmanely]]>;
<![CDATA[Krisnhoe Fitri Fatjriyati]]>
<![CDATA[ Journal of Accounting and Investment Vol 21, No 3: September 2020 ]]>
Publisher : <![CDATA[Universitas Muhammadiyah Yogyakarta, Indonesia ]]>
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DOI: 10.18196/jai.2103157
<![CDATA[Research aims: This study investigates the role of the ethical orientation of management in the relationship of asymmetry information and management status toward an individual’s decision-making with respect to earnings management behaviors.Design/Methodology/Approach: This methodology is an experimental method with 2x2 between-subject designs. 55 Accounting students from three private universities participated in 4 scenarios of cases (permanent and contractual management status, high and low asymmetry information) individually. Other side, the ethical orientation is measured, relativist and idealist. The Hypothesis was analyzed by ANOVA.Research findings: The ethical orientation influence managers’ earnings management decisions. It can mitigate the influence of asymmetry information toward manager earning management decisions. Theoretical contribution/ Originality: This research explains that earnings management behavior also can be explained by ethical approach, not only by using agency theory. Decision-makers will use ethical considerations when they are faced by the earnings management practices.Practitioner/Policy implication: The results support pro-social theory that ethical orientation can influence the decision making when individuals are exposed to ethical dilemmas to make earning management.Research limitation/Implication: Participants in this study used students, so they did not have experience. future studies can use professional participants and consider management status in more detail.]]>
