International Journal of Business and Economy (IJBEC) eISSN: 2682-8359 [Vol. 3 No. 4 December 2021]
Journal website: http://myjms.mohe.gov.my/index.php/ijbec
THE EFFECT OF IMPLEMENTATION PSAK 71 (IFRS 9) ON CONSUMER CYCLICAL SECTOR COMPANIES
LISTED IN IDX 2020
Bella Klarissa1* and Vena Purnamasari2
1 2 Faculty of Economic and Business, Soegijapranata Catholic University, INDONESIA
*Corresponding author: [email protected]
Article Information:
Article history:
Received date : 12 November 2021 Revised date : 4 December 2021 Accepted date : 5 December 2021 Published date : 6 December 2021
To cite this document:
Klarissa, B., & Purnamasari, V. (2021).
THE EFFECT OF
IMPLEMENTATION PSAK 71 (IFRS 9) ON CONSUMER CYCLICAL SECTOR COMPANIES LISTED IN IDX 2020. International Journal of Business and Economy, 3(4), 153-165.
Abstract: Indonesia, as the only ASEAN country in the G-20, has shown its commitment through the Indonesian Accounting Standard Board (DSAK-IAI) by adopting IFRS 9: Financial Instruments to replace the old standard. The new standard is named PSAK 71 and implemented in Indonesia effective on January 1, 2020.
It brings changes in 1) classification and measurement, 2) impairment, 3) hedge accounting, also it used forward looking rather than backward looking method. PSAK 71 would most likely impact industries that have financial instrument in their portfolio, so consumer cyclical sector was chosen to be the research subject because they have enough financial instruments. This research is conducted to be a post implementation review (PIR) of PSAK 71 in consumer cyclical sector companies. The result of this research will show the financial impacts arised from PSAK 71 implementation towards Total Asset, Total Liability, and Total Equity, Net Income, and EPS of consumer cyclical sector companies compared to the previous accounting standard that used backward looking.
Keywords: PSAK 71, IFRS 9, Accounting Standard, Financial Instruments, Expected Credit Losses, Financial Statements, Financial Ratio.
1. Introduction
As the only member of the G-20 from the Southeast Asian region, Indonesia has the commitment and responsibility to comply with and implement the agreements contained in the G-20. One form of commitment and responsibility is realized through the role of the Standards Board of the Indonesian Institute of Accountants (DSAK-IAI) which carries out convergence between Indonesian financial accounting standards and International Financial Reporting Standards (IFRS) in order to minimize the differences between SAK and IFRS (IAI, 2014). In this regard, DSAK–IAI on September 14, 2016 issued a draft exposure of PSAK 71: Financial Instruments to converge the new standards issued by the International Accounting Standard Board (IASB), namely IFRS 9 entitled Financial Instruments to replace IAS 39. PSAK 71 has a forward-looking nature and was effectively implemented on January 1, 2020 (IAI, 2016).
Financial instruments are contracts or ownership interests that can add value to financial assets, financial liabilities, or other equity instruments (Kieso, Weygandt, & Warfield, 2018). There are several basic changes brought by PSAK 71 about financial instrument to replace the old standard, specifically 1) classification and measurement, will be based on the characteristics of cash flows and the company's business model in managing its assets; 2) Impairment model, will used expected credit loss (ECL) impairment model; and 3) hedge accounting, will be depend on management judgement, and effectiveness assessment will be reviewed through risk management objectives (IAI, 2017).
The impact of the changes brought by PSAK 71 is mostly due to changes in the impairment model that currently uses the ECL method. With ECL method, it requires companies to be able to estimate the risk of financial instruments owned since initial recognition using projections that look to the future and also provide allowance for impairment losses (cadangan kerugian penurunan nilai - CKPN) on financial instruments from the time the financial instruments are owned (Ikatan Bankir Indonesia, 2019). This causes the value of CKPN that uses ECL method, tend to be larger than CKPN generated from incurred loss method. The value of CKPN will immediately reduce financial assets in total assets, so that total assets are affected. In addition, net profit (loss) is also affected because when there is a default on a financial instrument, the value of CKPN will be allocated to the impairment loss expense (beban kerugian penurunan nilai - BKP) in the income statement at the value of the default. Kamarudin (2020) dan Nugroho (2020), also stated that the components of total assets and net income balance tend to suffer as a result of the nominal value of CKPN being larger than before the implementation of PSAK 71. The same statement was also made by Septiadi & Hidayat (2019), which states that company's retained earnings will be decreased. The declining of earnings balance will results into decreasing of earnings per share (EPS) ratio, the calculation of which involves the net income component (Ramadhani, 2021). Total equity in which there is a retained earnings component can also be affected by changes in the company's net profit (loss) balance because retained earnings are the accumulation of profits and losses of the company (Andhika, 2021).
PSAK 71 also has an impact on total liabilities because companies that provide loans are
The consumer cyclical sector is the sector that has the largest number of companies on the IDX for the year 2021. Consumer cyclical sector based on researcher initial assessment are one of the industries that has the most financial instrument. The implementation of PSAK 71 which brings several changes, especially regarding financial instruments will impact sector that has financial instrument and uses PSAK 55. Based on the explanation above, this study will discuss the effect of the implementation of PSAK 71 in terms of total assets, total liabilities, total equity, net income, and EPS in the consumer cyclical sector.
2. Literature Review A. PSAK 71
It was officially stated by DSAK-IAI that PSAK 71 which discusses Financial Instruments and is a substitute for PSAK 55 will be effective January 1, 2020. In the book written by PWC regarding the latest Indonesian financial standards (PricewaterhouseCoopers, 2020) there are several differences between the two PSAK.
That is in terms of:
1. Classification and measurement
The basis for the measurement and classification in this new standard is the business model of the company in managing the financial assets in the company, as well as the characteristics of the contractual cash flows of the financial assets in the company. Then, there are three new methods described by PSAK 71 regarding classification after initial recognition, which are as follows:
- Amortized cost
- Fair Value Through Other Comprehensive Income (FVTOCI) - Fair Value Through Profit Or Loss (FVTPL)
2. Impairment
The recognition of impairment in PSAK 71 will use a new model, namely expected credit losses (ECL), which means that the company must provide reserves from the beginning of the financial instrument owned or from the start of the credit period with forward looking information and management assessments that can support the assessment. There are 2 (two) types of ECL, namely lifetime ECL and 12-month ECL. The 12-month ECL will be used in stage 1 (performing) when there is no increase in credit risk and financial assets.
Meanwhile, lifetime ECL will be used if the CKPN is classified as stage 2 (under-performing) when credit risk and financial assets experience a significant increase; and in the stage 3 (non-performing) classification when there is a very sharp decline in the value of loans and financial assets, and is followed by delays in payments.
3. Hedge Accounting
In PSAK 71, the 80-125% effectiveness test will be omitted and will use management's judgment. So, later for hedge accounting in this new standard is more flexible. The entity's financial statements will be able to reflect better risk management than the old standard. However, specifically for the application of hedging within the company, the IASB allows companies to choose the application of the hedge accounting model, which can use ED PSAK 71 or can use PSAK 55 as a whole. There is also an additional option if the company will use ED PSAK 71, namely for macro hedging it can apply from the old standard, namely PSAK 55. The choice of applying the hedging accounting model is only valid for a while until the project on macro hedging carried out by the IASB is completed.
B. Statement of Financial Position
Riswan & Kesuma (2014) state that the balance sheet or statement of financial position is a report that provides an overview and presents the total and details of assets, liabilities, not to forget there are also details regarding the equity in a company.
C. Net Income
Net profit/loss which is also known as profit for the year is part of the income statement which shows the net profit and loss of the company for 1 (one) period. The results of the calculation of net profit/loss are obtained after other income or income is deducted by costs or expenses that exist in the company, such as employee benefits expenses, sales costs, raw material costs, distribution costs, depreciation expenses, income tax expenses and other expenses (SAK IAI, 2021).
D. Earning per Share (EPS)
EPS is used to measure the value of the profit that will be obtained on each outstanding share. This ratio can also be a measure of the success of the company's management in managing the company so that it can generate profits. If the EPS value in the company is increasing, it can be said that the better the company is (Kasmir, 2016).
2.1 Problem Statement
The main objectives of this research is to find out the difference in the amount of total assets, total liabilities, total equity, net income, and earnings per share (EPS) before and after the implementation of PSAK 71 in companies listed on the IDX.
3. Method
This study proposed 5 hypotheses:
a. The effect of the implementation of PSAK 71 on Total Assets
PSAK 71 uses the ECL calculation model with a forward-looking nature and may affect the allowance for impairment losses (CKPN) account in the asset component. With the ECL model, companies must take into account and provide allowance for impairment since the initial recognition of financial assets by considering information on past conditions, current conditions, and future conditions. The value of CKPN will tend to increase when compared to the old standard, because the PSAK 71 standard uses forward-looking information such as projections of inflation and economic growth in its calculations; and later the CKPN will reduce the balance of the financial asset itself, so that it can cause a decrease in total assets. Based on that logical thinking, the researchers hypothesized:
H1: There is a difference in the value of total assets before and after the implementation of PSAK 71
b. The effect of the implementation of PSAK 71 on Total Liability
PSAK 71 which is forward looking requires companies to calculate off balance sheet transactions related to loan arrangements such as off-balance sheet credit exposure using the ECL method. The results of the calculation of off-balance sheet transactions will be recognized in the liability component, for example by the name of a credit loss reserve account. Therefore, the policies adopted by PSAK 71 can have an effect on total liabilities. Based on that logical thinking, the researcher hypothesizes:
H2: There is a difference in the value of total liability before and after the implementation of PSAK 71
c. The effect of the implementation of PSAK 71 on Net Income
The transition from an impairment model that uses incurred losses to ECL contributes to changes in net income. With the ECL model, the company will record CKPN with a value that tends to be larger than the old standard, and when there is a default on a financial instrument, the value of CKPN in the financial instrument will be allocated to the impairment loss expense (BKP) which is located in the income statement. loss equal to the value of the default. The emergence of BKP will have a decreasing effect on the company's net profit. Then the recognition of financial assets whose measurement using FVOCI was previously recorded in other comprehensive income. As the standard changes, it will now be recorded in the company's income statement so that it will have a decreasing effect on the company's net profit. Based on that logical thinking, the researcher hypothesizes:
H3: There is a difference in the value of net income before and after the implementation of PSAK 71
d. The effect of the implementation of PSAK 71 on Total Equity
In line with the logic of thought contained in section c. The effect of the implementation of PSAK 71 on Net Income, a decreased net income can have a decreasing effect on total equity because the calculation results of the company's profit and loss which have been deducted by dividends that have been paid will be recorded in equity in statement of financial position in retained earnings. Based on that logical thinking, the researcher hypothesizes:
H4: There is a difference in the value of total equity before and after the implementation of PSAK 71
e. The effect of the implementation of PSAK 71 on EPS
In line with the logic of thought contained in section c. The effect of the implementation of PSAK 71 on Net Income, a decreased net income can have a decreasing impact on EPS because the EPS calculation involves the net income component. Based on that logical thinking, the researcher hypothesizes:
H5: There is a difference in earning per share (EPS) before and after the implementation of PSAK 71
Therefore, the method for this study is:
3.1 Materials
This study will use secondary data which obtained in an indirect way. It will used archival research method. The source of data used by the researcher comes from quarterly financial reports published on Bloomberg. Specifically, the financial statements of the first quarter (Q1) 2018 and Q1 2020 of consumer cyclical sector.
3.1.1 Samples
The population for the study conducted by the researcher found 124 companies from consumer cyclical sector. Researcher used samples from the population and took samples using the judgment purposive sampling method. The criteria are:
1. Cyclical consumer sector companies listed on the IDX in 2020.
2. The cyclical consumer sector companies has financial instruments.
3. The cyclical consumer sector companies has total assets, total liabilities, total equity, net income, and EPS data on financial statement Q1 2018 and Q1 2020.
Then obtained samples for this study found 20 companies. For more details as in the following table:
Table 1: Table of Sample
Sample selection process: Number of
Companies 1. Companies in the cyclical consumer sector listed on the IDX in 2020 124 2. Companies in the cyclical consumer sector that do not have financial instruments -103
21
3. Companies in the cyclical consumer sector that do not have data on total assets, total
liabilities, total equity, net income, and EPS because listed after Q1 2018 -1
Total Sample 20
3.1.2 Site
Bloomberg (www.bloomberg.com) is a global provider of financial news and information. It was chosen because the data used in this study is financial statement and Bloomberg has provided all the data that researchers need.
3.1.3 Procedures
This study will use independent and dependent variable where the data is taken from Bloomberg and has the criteria and sampling process as mentioned in 3.1.1 Sample. The independent and dependent variables are:
a) Independent Variable = PSAK 71
b) Dependent Variable = Total Asset, Total Liability, Total Equity, Net Income and EPS.
3.2 Measurement
a) Independent Variable
PSAK 71 which is the result of the adoption and convergence of IFRS 9 issued by the IASB, will be the independent variable. Measurement of PSAK 71 will use dummy variables, namely before and after the new accounting standard is implemented. The dummy variable before implementation was given a score of 0 and the dummy variable after implementation was given a score of 1.
b) Dependent Variable
- Total Assets in this study are the total of all assets / assets / wealth / other economic resources both in the form of current and non-current owned by the company and can generate economic benefits in the future. The total assets in this study are the average of the total assets in the first quarter of 2018 and 2020 per industrial sector listed on the IDX. Total assets will be measured using data published on the Bloomberg website. The type of scale used in this study is the ratio scale type, so the higher the total assets, the more wealth/assets/assets the company has in each industrial sector.
- Total Liability in this study is the total of all current liabilities/debts of the company, both in the form of current liabilities and long-term liabilities as a result of events that occurred in the past. The total liabilities in this study are the average of the total liabilities in the first quarter of 2018 and 2020 per industrial sector listed on the IDX. Total liabilities will be measured using data published on the Bloomberg website. The type of scale used in this study is a ratio scale type, so the higher the total liability means the more liabilities/debts that must be paid by the company in each industrial sector.
- Total Equity in this study is the total of equity/capital/net worth/total of total assets minus the total liabilities of the company. The total equity in this study is the average of the total equity in the first quarter of 2018 and 2020 per industrial sector listed on the IDX. Total equity will be measured using data published on the Bloomberg website. The type of scale used in this study is the ratio scale type, so the higher the total equity means the more capital the company has in each industrial sector.
- Net Income in this study is the amount of net profit earned by the company after deducting existing expenses such as costs/expenses including tax burden. The net profit in this study is the average of the first quarter net profit of 2018 and 2020 per industrial sector listed on the IDX. Net profit will be measured using data published on the Bloomberg website. The type of scale used in this study is the ratio scale type, so the higher the net profit, the more net profit the company generates.
- EPS in this study is the value of the company's profit/profit that will be allocated to shareholders based on the outstanding shares. The nominal EPS contained in this study is the EPS for the first quarter of 2018 and 2020 per industrial sector listed on the IDX. EPS will be measured using data published on the Bloomberg website.
The type of scale used in this study is the ratio scale type, so the higher the EPS, the higher the profit generated by the company per share.
3.3 Data Analysis
This study will not use normality test because even if the data is not normally distributed and there are deviations from the normality assumption, the research can still be continued because the test using ANOVA is still robust (Ghozali, 2016). Compare mean ANOVA will be used to analyze the impact of PSAK 71 on consumer cyclical companies listed on the IDX to find out whether there are differences in terms of means before and after the implementation of PSAK 71. Significant level on this study is 10%. So, if there is a significant difference in the test conducted by the researcher, the result will be sig (2 tailed) < 0.1. If the results show otherwise, there is no significant difference.
4. Results and Discussion
Based on the selected sample and method, the results of this research are:
Figure 1: Descriptive Statistics
Figure 1 shows the mean values of the variables of total assets, total liabilities, total equity, net income and EPS in the financial statements for the first quarter of 2018 (before the implementation of PSAK 71) and 2020 (after the implementation of PSAK 71). Based on the graph, the mean values of total assets, total liabilities, total equity, and net income before and after the implementation of PSAK 71 are not much different. Meanwhile, when viewed from the graph of the mean on the EPS, it can be said that the EPS value after the implementation of PSAK 71 when compared to before the implementation has quite a lot of differences.
4.1 Hypotheses 1
Table 2: Compare Means ANOVA Total Assets Compare Means ANOVA
Variable Sig
Total Assets 0,521
Based on the table 2, it is found that the significance result for total assets is 0.521. With significance level 10%, so H1: There is a difference in the value of total assets before and after the implementation of PSAK 71, is rejected. It can be said that there is no significant difference in the value of total assets before and after the implementation of PSAK 71. This is in accordance with the research of Hermawan & Pratama (2021) which examined the implementation of PSAK 71 in a heavy equipment company and stated that PSAK 71 does not have a significant effect on total assets.
4.2 Hypotheses 2
Table 3: Compare Means ANOVA Total Liabilities Compare Means ANOVA
Variable Sig Total Liabilities 0,585
Based on the table 3, it is found that the significance result for total liabilities is 0.585. With significance level 10%, so H2: There is a difference in the value of total liability before and after the implementation of PSAK 71, is rejected. It can be said that there is no significant difference in the value of total liabilities before and after the implementation of PSAK 71.
This is in accordance with the research of Hermawan & Pratama (2021) which examined the implementation of PSAK 71 in a heavy equipment company and stated that PSAK 71 does not have a significant effect on total liabilities.
4.3 Hypotheses 3
Table 4: Compare Means ANOVA Net Income Compare Means ANOVA
Variable Sig
Net Income 0,295
Based on the table 4, it is found that the significance result for net income is 0.295. With significance level 10%, So H3: There is a difference in the value of net income before and after the implementation of PSAK 71, is rejected. It can be said that there is no significant difference in the value of net income before and after the implementation of PSAK 71. This is in accordance with the research of Hermawan & Pratama (2021) which examined the implementation of PSAK 71 in a heavy equipment company and stated that PSAK 71 does not have a significant effect on net income.
4.4 Hypotheses 4
Table 5: Compare Means ANOVA Total Equity Compare Means ANOVA
Variable Sig Total Equity 0,583
Based on the table 5, it is found that the significance result for total equity is 0.583. With significance level 10%, So H4: There is a difference in the value of total equity before and after the implementation of PSAK 71, is rejected. It can be said that there is no significant difference in the value of total equity before and after the implementation of PSAK 71.
This is in accordance with the research of Hermawan & Pratama (2021) which examined
4.5 Hypotheses 5
Table 6: Compare Means ANOVA EPS Compare Means ANOVA
Variable Sig
EPS 0,084
Based on the table 6, it is found that the significance result for EPS is 0,084. So H5: There is a difference in earning per share (EPS) before and after the implementation of PSAK 71, is accepted. But the researcher conducted a deeper analysis and found that the significance of EPS was not due to the implementation of PSAK 71 but the increase in outstanding shares by 266.23% in Q1 2020 compared to Q1 2018.
The researcher found supporting information about implementation of PSAK 71 issued by the company which became the research sample. It is PT Surya Citra Media Tbk (2020), stated in the supporting document that the reason why implementation of PSAK 71 didn’t affect the entity because the company has evaluated customers based on the facts and the ongoing situation; make considerations such as the length of the relationship with the customer;
customer credit status that can be known through third parties; and by considering market factors, causing the CKPN value calculated using ECL not to have a significant increase in impact. Therefore, it can be stated that PSAK 71 does not have a material impact on the company.
5. Conclusion
The study entitled "The Effect of Implementation PSAK 71 on Consumer Cyclical Sector Companies Listed in IDX 2020" is an empirical study that examines the effect of PSAK 71 policies on total assets, total liabilities, total equity, net income, and EPS. Based on the research that has been carried out by the researcher, the following conclusions are obtained:
1. PSAK 71 has no significant effect on the total assets of consumer cyclical sector companies listed on the IDX in 2020.
2. PSAK 71 has no significant effect on the total liabilities of consumer cyclical sector companies listed on the IDX in 2020.
3. PSAK 71 has no significant effect on the net income of consumer cyclical sector companies listed on the IDX in 2020.
4. PSAK 71 has no significant effect on the total equity of consumer cyclical sector companies listed on the IDX in 2020.
5. PSAK 71 has significant effect on the EPS of consumer cyclical sector companies listed on the IDX in 2020.
The absence of a significant impact from the implementation of PSAK 71 is good news for the company on consumer cyclical sector and its stakeholders. Various interested parties no need to worry because this indicates that PSAK 71 does not have a negative impact on the company and the company has actually prepared itself and the infrastructure for the implementation of PSAK 71.
6. Acknowledgement
First and foremost, praises and thanks to God for His showers of blessings so I can complete the research. Then, I would like to express my deep and sincere gratitude to my research supervisor, St. Vena Purnamasari, SE., M.Si., CPMA., CPA for giving me the opportunity to do the research and providing invaluable guidance throughout this research. Last, I am extremely grateful for Indonesia’s Directorate General of Higher Education, Research and Technology, the Ministry of Education, Culture, Research, and Technology through the Directorate of Resources which has launched the Indonesian Innovation Talent program 2021 that provided assistance in terms of funding so that all things needed by researchers can be fulfilled, and then this research can run smoothly from beginning to an end.
References
Andhika. (2021, June 30). Retrieved from Ekuitas Adalah Penentu Harga Saham, Apa Saja Elemennya?:https://ajaib.co.id/ekuitas-adalah-penentu-harga-saham-apa-saja-elemennya/
CCPA. (2020). ACPA EXAM REVIEW MODULE. In ANALISIS PELAPORAN KEUANGAN (p. 9). Semarang: CCPA UNIKA Soegijapranata.
Ghozali, I. (2016). Desain Penelitian Kuantitatif & Kualitatif: untuk Akuntansi, Bisnis, dan Ilmu Sosial Lainnya. Semarang: Yoga Pratama.
Hermawan, V., & Pratama, I. (2021). The Analysis and Implementation of Psak 71 (Ifrs 9):
Financial Instruments at PT X for the Year 2019. Conference Series, 3(1), 83-110.
IAI. (2014). SAK (Standar Akuntansi Keuangan). Retrieved from Pengertian Standar Akuntansi Keuangan (SAK): http://iaiglobal.or.id/v03/standar-akuntansi-keuangan/sak IAI. (2016, October 6). BERITA PENGESAHAN ED PSAK 71: INSTRUMEN KEUANGAN.
Retrieved from IKATAN AKUNTAN INDONESIA:
http://www.iaiglobal.or.id/v03/berita-kegiatan/detailberita-949=berita-pengesahan-ed- psak-71-instrumen-keuangan
Idris, M. (2021, March 27). Kompas.com. Retrieved from Ekuitas: Pengertian, Jenis,
Perhitungan, dan Contohnya:
https://money.kompas.com/read/2021/03/27/055327426/apa-itu-ekuitas-pengertian-jenis- perhitungan-dan-contohnya?page=all
Ikatan Bankir Indonesia. (2019). IMPLEMENTASI PSAK 71. In D. Indramawan, Bankers Update: Buletin Ikatan Bankir Indonesia (p. 1). Jakarta: Ikatan Bankir Indonesia.
Kamarudin, I. (2020, March 31). Tanggapan atas Implikasi PSAK 71,72,73 pada PT BUKAKA
TEKNIK UTAMA Tbk. Retrieved from
https://www.idx.co.id/StaticData/NewsAndAnnouncement/ANNOUNCEMENTSTOCK/
From_EREP/202003/6103f16c48_de9526e936.pdf
Kasmir. (2016). Analisis Laporan Keuangan (Cetakan ke-9). Depok: PT. Raja Grafindo Persada.
Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2018). Intermediate Accounting 3rd edition IFRS edition. WILEY.
PricewaterhouseCoopers. (2019). PSAK 71 - Financial Instruments - "Understanding the Basics". PricewaterhouseCoopers.
Ramadhani, N. (2021, January 17). Mengenal Earning Per Share (EPS) dalam Investasi.
Retrieved from Akseleran: https://www.akseleran.co.id/blog/earning-per-share-adalah/
Riswan, & Kesuma, Y. F. (2014). ANALISIS LAPORAN KEUANGAN SEBAGAI DASAR DALAM PENILAIAN KINERJA KEUANGAN PT. BUDI SATRIA WAHANA MOTOR. JURNAL Akuntansi & Keuangan.
SAK IAI. (2019). KERANGKA KONSEPTUAL PELAPORAN KEUANGAN. IKATAN AKUNTAN INDONESIA.
SAK IAI. (2021). PSAK 1 - PENYAJIAN LAPORAN KEUANGAN. In IAI, SAK (pp. 81- 105). IKATAN AKUNTANSI INDONESIA.
Septiadi, A., & Hidayat, K. (2019, August 01). Kontan.co.id. Retrieved from Pencadangan naik untuk penerapan PSAK 71, laba Bank Sampoerna turun:
https://keuangan.kontan.co.id/news/pencadangan-naik-untuk-penerapan-psak-71-laba- bank-sampoerna-turun
BRI. (2020, March 6). Tanggapan Permintaan Penjelasan atas Implikasi berlaku efektifnya PSAK 71,72, dan 72 tahun 2020 terhadap laporan keuangan perseroan. Retrieved from https://www.ir-bri.com/newsroom/c712a8b222_d18b560551.pdf
PT Surya Citra Media Tbk. (2020, March 06). Dampak Penerapan PSAK 71, 72, dan 73 Tahun 2020 terhadap Laporan Keuangan Perseroan. Retrieved from https://www.idx.co.id/StaticData/NewsAndAnnouncement/ANNOUNCEMENTSTOCK/
From_EREP/202003/07f97eb950_0b2d1637ec.pdf
