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All Journal Kompak : Jurnal Ilmiah Komputerisasi Akuntansi JASF (Journal of Accounting and Strategic Finance) Jurnal Ilmiah Akuntansi Kesatuan Jurnal Indonesia Sosial Teknologi
Rizaldi, Fredy
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Computer Science & IT Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Menyingkapi Penerapan PSAK116 Terhadap Rasio Keuangan Berbasis Kemampuan Bayar: Studi Kasus Pada PT Mitra Adiperkasa Tbk Rizaldi, Fredy; Agus Munandar
Kompak :Jurnal Ilmiah Komputerisasi Akuntansi Vol. 18 No. 1 (2025): Jurnal Ilmiah Komputer Akuntansi (KOMPAK)
Publisher : Universitas Sains dan Teknologi Komputer

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51903/f7dssp68

Abstract

The adoption of PSAK 116 changes the accounting treatment of leases by recognising right-of-use assets and lease liabilities, replacing operating lease expenses with depreciation and interest. These changes have a direct impact on ability-to-pay financial ratios such as Debt Service Coverage Ratio (DSCR) and Net Debt to EBITDA. This study analyses the financial statements of PT Mitra Adiperkasa Tbk (MAPA) for 2019-2024 using a descriptive-comparative and simulation approach in case PSAK 116 is not applied. The results show a technical increase in EBITDA due to PSAK 116, which has an effect on the apparent improvement of DSCR and Net Debt to EBITDA. Simulations using the PSAK 30 approach show more conservative and realistic ratios. These findings highlight the importance of understanding the impact of accounting standards on ratio interpretation and credit decision-making.
Increasing the Effectiveness and Efficiency of Local MSME Consignment Cooperation with the Portal Vendor System Rizaldi, Fredy; Munandar, Agus
Jurnal Indonesia Sosial Teknologi Vol. 5 No. 11 (2024): Jurnal Indonesia Sosial Teknologi
Publisher : Publikasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59141/jist.v5i11.7057

Abstract

MSMEs have an important role in the Indonesian economy, but they face challenges in adapting to the digital era and establishing effective collaborations with retail companies. This study aims to develop and evaluate a vendor portal system that can overcome this challenge by increasing the effectiveness and efficiency of consignment cooperation between local MSMEs and retail companies. Using a qualitative descriptive method, this study analyzes the impact of the implementation of the vendor portal system on the consignment business process, including operational efficiency, transparency, and collaboration between the two parties. The results show that the vendor portal system has succeeded in improving operational efficiency, providing real-time transparency of sales and inventory data, and facilitating better communication between MSMEs and retail companies. In addition, this system also supports the government's program in encouraging MSMEs to "Go Digital" and "Upgrade Class".
Green Investment Policy as Moderator of ESG and Profitability on Value Relevance in Indonesian Coal Firm Rizaldi, Fredy; Arrozi, Muhammad Fachruddin
JASF: Journal of Accounting and Strategic Finance Vol. 8 No. 2 (2025): JASF (Journal of Accounting and Strategic Finance) - December 2025
Publisher : Accounting Department, Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33005/jasf.v8i2.628

Abstract

Purpose: This study investigates whether ESG disclosure and profitability affect the value relevance of accounting information proxied by Tobin’s Q in coal firms, analyse the Green Investment Policy (GIP) moderation role. It aims to show the ESG efforts and “green” capital allocation uncertainty into higher market valuation in an emission-intensive sector. Method: Archival coal companies analysis listed on the Indonesia Stock Exchange (IDX) for 2019–2024. Data collected from annual and sustainability reports. The empirical with panel data regression and moderated regression analysis (MRA) using interaction terms (ESG × GIP; Profitability × GIP), also robust standard errors in ensuring the inference in heteroskedasticity. Findings: ESG disclosure not statistically significant in influencing firm value, either directly or through interaction with Green Investment Policy (GIP). Meanwhile, the interaction between Profitability and GIP is positive and significant, indicating that profits connected to credible green investments are more favourable valued by the market. This suggest that investors prioritize the quality of profit deployment within a sustainable and verifiable framework, rather than merely the total amount of profits. In accounting terms, integrating profitability with credible green investment produces stronger value signals, reflected in higher Tobin’s Q. Novelty/Value: The study redefines value relevance by emphasizing the profits distribution for verifiable green investment than ESG disclosure alone. The study underlining mixed evidence on ESG with the financial performance grows to be value-relevant in relation with credible GIP. The results provide managers, investors, and policymakers to align financial and sustainability objectives in emission-intensive industries.
Green Investment Policy as Moderator of ESG and Profitability on Value Relevance in Indonesian Coal Firm Rizaldi, Fredy; Arrozi, Muhammad Fachruddin
Jurnal Ilmiah Akuntansi Kesatuan Vol. 13 No. 6 (2025): JIAKES Edisi Desember 2025
Publisher : Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jiakes.v13i6.4314

Abstract

Growing sustainability awareness and regulatory pressure have encouraged coal companies to adopt ESG disclosure and green investment initiatives. However, empirical evidence on whether these practices enhance firm value remains inconclusive, particularly in emerging markets. Prior studies report inconsistent results regarding the value relevance of ESG disclosure and profitability, while the moderating role of Green Investment Policy (GIP) remains underexplored. Addressing this gap, this study examines the effect of ESG disclosure and profitability on the value relevance of accounting information, measured by Tobin’s Q, and investigates GIP as a moderating variable. Panel data were obtained from coal companies listed on the Indonesia Stock Exchange during 2019–2024 and analyzed using moderated regression analysis with robust standard errors. The findings reveal that ESG disclosure does not significantly affect firm value, either directly or when moderated by GIP. In contrast, profitability moderated by GIP shows a positive and significant effect, indicating that the market values profits more highly when they are strategically allocated to green investments. This study contributes to accounting and sustainability literature by demonstrating that green investment policy strengthens the value relevance of profitability, highlighting the importance of integrating financial performance with substantive sustainability strategies in carbon-intensive industries.
Co-Authors Agus Munandar MF. Arrozi Adhikara