Analysis of Financial Performance and Shareholder Value With Revenue Recognition Before and After The Implementation of PSAK 72 in Property and Real Estate Sector Companies Listed on The IDX From 2018-2021

Abstract

This type of research is a comparative method study with a quantitative descriptive approach that aims to determine whether there are differences in financial performance and shareholder value before and after the implementation of PSAK 72 in property and real estate sector companies listed on the IDX. PSAK 72 is the latest revenue recognition accounting standard adopted from IFRS 15. The research sample was taken from several criteria. Researchers used non-purposive sampling for sampling, which amounted to 17 companies. Statistical tools to test the hypothesis using the non-parametric Wilcoxon Rank Test and the parametric paired sample T-test. The results of this study are that there is a difference in the impact of the debt-to-asset ratio before and after the implementation of PSAK 72. Meanwhile, there is no difference in the impact of the current ratio, net profit margin, and market book value before and after the implementation of PSAK 72 on property and real estate companies listed on the Indonesia Stock Exchange.