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Positive Accounting Theory

PERTEMUAN #13
EMB 914

TEORI FAKULTAS EKONOMI DAN BISNIS


AKUNTANSI UNIVERSITAS ESA UNGGUL
KEMAMPUAN AKHIR YANG DIHARAPKAN

• Menjelaskan praktik akuntansi yang


berlaku saat ini
• Menerangkan kebijakan yang akan
diambil oleh perusahaan
• Menjelaskan penilaian terhadap
perusahaan berdasarkan kontrak-kontrak
yang telah dibuat

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Positive Accounting
Theory

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PAT Concept
Agency Theory Efficient Market Hypothesis
(EMH)

Normative Positive Accounting


Theory Theory (PAT)

Bonus Debt Political


Plan Covenant Cost
Hypothesis Hypothesis Hypothesis

Accounting Standards and Practices


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Positive Accounting Theory

– Watts and Zimmerman in 1978 and 1986


– Apply to Positive Theory of Economic

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Positive Accounting Theory

• Teori akuntansi positif mengarahkan


pemahaman dan prediksi pilihan kebijakan
akuntansi perusahaan, dinyatakan bahwa pilihan
kebijakan akuntansi adalah bagian dari
kebutuhan perusahaan untuk meminimalisir
biaya kontraknya.
• Kebijakan akuntansi ditentukan oleh struktur
organisasi perusahaan menurut kondisi
lingkungannya dan pilihan kebijakan akuntansi
menjadi bagian dari pengelolaan perusahaan.
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• Dalam praktiknya kebijakan akuntansi
akrual diterapkan lewat perlakuan
transaksi yang berkaitan dengan laba agar
lebih mendekati nilai ekspektasi
perusahaan. Hal ini mengingat pihak
manajemen memiliki kompetensi untuk
mengendalikan kuantifikasi kejadian yang
berpengaruh terhadap laba.
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Agency Theory

 The agent (like the principal) will be


driven by self-interest, and therefore the
principals will anticipate that the
manager, unless restricted from doing
otherwise, will undertake self-serving
activities that could be detrimental to
economic welfare of the principals.
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Efficient Market Hypothesis (EMH)

 The capital markets react in an efficient and


unbiased manner to publicly available
information.

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Positive Accounting Theory

• Assumptions:
The accountants (and, in fact, all
individuals) are primarily motivated
by self-interest (tied to wealth
maximisation), and that the particular
accounting method selected (where
alternative are available).
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The Three Hypotheses

1. The Bonus Plan Hypothesis


2. The Debt Covenant
Hypothesis
3. The Political Cost
Hypothesis
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The Bonus Plan Hypothesis

• Bonus based on net income


• To get more bonus, choosing
accounting methods that
increase current reported
earnings

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The Bonus Plan Hypothesis
• All other things being equal, managers of
firms with bonus plans are more likely to
choose accounting procedures that shift
reported earnings from future periods to
the current period

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The Bonus Plan Hypothesis
• Because of the nature of of the accrual process,
this will tend to lower future reported earnings
and bonuses, other things equal.
• PV of manager’s utility from future bonus
stream will be increased by shifting earnings
toward the present

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The Debt Covenant Hypothesis

• All other things being equal, the closer a firm


is to violation of accounting-based debt
covenants, the more likely the firm manager
is to select accounting procedures that shift
reported earnings from future periods to the
current period

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The Debt Covenant Hypothesis
• Violation of debt covenant is costly
– Restriction on dividends
– Limit additional borrowing
– Issuance of stock, …
• Increase current earnings
 Assets increase
To avoid violation

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The Political Cost Hypothesis
• All other things equal, the greater the
political costs (taxes, regulations) faced by
a firm, the more likely the manager is to
choose accounting procedures that defer
reported earnings from current to future
periods

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The Political Cost Hypothesis
• Large firm with high profit attracts media,
consumers, and politicians attention
– Large firm trend to reduce profit reports

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Criticisms
• Not improving accounting pratices
• Not value free
• Not positive thinking for humankind
• …

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PAT Concept
Agency Theory Efficient Market Hypothesis
(EMH)

Normative Positive Accounting


Theory Theory (PAT)

Bonus Debt Political


Plan Covenant Cost
Hypothesis Hypothesis Hypothesis

Accounting Standards and Practices


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TKT306 - Perancangan Tata Letak Fasilitas 6623 - Taufiqur Rachman 21