An Analysis of the Implementation of PSAK 69 at PT Perkebunan Nusantara V (Persero)

Yefni ()
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Yefni: Politeknik Caltex Riau, 28265, Pekanbaru, Indonesia Author-2-Name: Hamdani Arifulsyah Author-2-Workplace-Name: Politeknik Caltex Riau, 28265, Pekanbaru, Indonesia Author-3-Name: Suci Nurulita Author-3-Workplace-Name: Politeknik Caltex Riau, 28265, Pekanbaru, Indonesia

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Abstract: Objective - This study aims to identify the impact of the application of the PSAK 69 in plantation companies in Riau, particularly in PT Perkebunan Nusantara V (Persero), and the impact of PSAK 69 to the profit gained by PT Perkebunan Nusantara V (Persero). Methodology/ Technique - This research is a qualitative descriptive research. The approach used in this research is a case study. The object of this research is PT Perkebunan Nusantara V (Persero). PT Perkebunan Nusantara V (Persero) is a company engaged in the field of palm oil plantations. This study uses the data from PT Perkebunan Nusantara V (Persero)'s annual report in 2016 and the data is collected using interviews and documentation techniques. Findings - The results of this study indicate that PT Perkebunan Nusantara V (Persero) has not implemented the PSAK 69 in its agricultural business. In addition, there are differences in the measurement and recording of the biological assets applied by PT Perkebunan Nusantara V (Persero) under the PSAK 69 (IAS 41). PT Perkebunan Nusantara V (Persero) measures and records its biological assets based on historical cost, so there is no gain or loss in the current period. In addition, the profit gained by PTPN V for the year ending on 31 December 2016 is too low. Novelty - The results of this study are expected to be used as a reference for other plantation companies in implementing the PSAK 69. In addition, the results of this study are also useful to regulating agencies in developing rules and policies in the field of accounting, including in re-evaluating the PSAK 69.

Keywords: PSAK 69; Agricultural Products; Biological Assets; Profit. (search for similar items in EconPapers)
JEL-codes: G32 M41 (search for similar items in EconPapers)
Pages: 9
Date: 2018-03-07
New Economics Papers: this item is included in nep-acc, nep-cfn and nep-sea
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Published in Accounting and Finance Review, Volume 3, Issue 1

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