ANALISIS PERBANDINGAN MANAJAMEN LABA PADA PERUSAHAAN YANG TERLAMBAT DAN TEPAT WAKTU PUBLIKASI LAPORAN KEUANGAN TAHUNAN

(Studi pada Perusahaan Sektor Property & Real Estate yang Terdaftar di Bursa Efek Indonesia Tahun 2021-2024)

Abstrak

Penelitian ini bertujuan menganalisis indikasi manajemen laba pada perusahaan sektor properti dan real estate yang terlambat mempublikasikan laporan keuangan tahunan serta membandingkannya dengan perusahaan yang mempublikasikan laporan keuangan secara tepat waktu. Pengukuran indikasi manajemen laba dilakukan menggunakan Beneish M-Score yang terdiri atas delapan rasio, yaitu Days Sales Receivable Index (DSRI), Gross Margin Index (GMI), Asset Quality Index (AQI), Sales Growth Index (SGI), Depreciation Index (DEPI), Sales General and Administrative Expenses Index (SGAI), Leverage Index (LVGI), dan Total Accrual to Total Assets (TATA). Teknik pengambilan sampel ditentukan berdasarkan metode purposive sampling sehingga menghasilkan 129 observasi perusahaan sektor properti dan real estate yang terdaftar di Bursa Efek Indonesia selama periode 2021–2024, yang terdiri atas 29 observasi perusahaan terlambat dan 100 observasi perusahaan tepat waktu. Pengujian hipotesis dilakukan menggunakan One-Sample t Test dengan Bootstrap untuk menguji rata-rata M-Score perusahaan terlambat terhadap cut-off -2,22, serta Independent-Samples t Test dengan Bootstrap untuk membandingkan kedua kelompok. Hasil penelitian menunjukkan bahwa rata-rata M-Score perusahaan terlambat sebesar -1,3705, lebih tinggi daripada cut-off -2,22, tetapi hasil signifikasi lebih besar dari 0.05 ( 0,660 > 0,05), sehingga belum terdapat bukti statistik yang cukup untuk mendukung hipotesis pertama. Pada pengujian perbedaan kelompok, rata-rata M-Score perusahaan terlambat sebesar -1,3705 dan perusahaan tepat waktu sebesar -1,7642, dengan selisih 0,3937. Namun, nilai signifikansi (0,863 > 0,005) menunjukkan bahwa perbedaan tersebut tidak signifikan secara statistik.

This study aims to analyze indications of earnings management in property and real estate sector companies that are late in publishing their annual financial statements and compare them with companies that publish their financial statements on time. The measurement of earnings management indications is conducted using the Beneish M-Score, which consists of eight ratios: Days Sales Receivable Index (DSRI), Gross Margin Index (GMI), Asset Quality Index (AQI), Sales Growth Index (SGI), Depreciation Index (DEPI), Sales General and Administrative Expenses Index (SGAI), Leverage Index (LVGI), and Total Accrual to Total Assets (TATA). The sampling technique was determined based on the purposive sampling method, resulting in 129 observations of companies in the property and real estate sector listed on the Indonesia Stock Exchange during the period 2021–2024, consisting of 29 observations of late companies and 100 observations of on-time companies. Hypothesis testing was conducted using the One-Sample t Test with bootstrap to test the average M-score of late companies against the cut-off of -2.22, as well as the independent-samples t-test with bootstrap to compare the two groups. The research results show that the average M-Score of late companies is -1.3705, higher than the cut-off of -2.22, but the significance result is greater than 0.05 (0.660 > 0.05), so there is not yet sufficient statistical evidence to support the first hypothesis. In the group difference test, the average M-Score of late companies is -1.3705, and that of timely companies is -1.7642, with a difference of 0.3937. However, the significance value (0.863 > 0.005) indicates that the difference is not statistically significant.