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THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENTTOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENT TOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN MANUFACTURING COMPANIES (Empirical Study of Co

THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENTTOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENT TOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN MANUFACTURING COMPANIES (Empirical Study of Co

The financial reporting has an objective to summarize financial performance of the company periodically. One indicator from the financial reporting that commonly used to assess performance is earnings. Stakeholders used earnings in measuring management’s performance, determining executive compensation, assessing firms’ future prospects to make resource allocations, and firm valuation decisions. Therefore, managers are keen to show better reported earnings in their financial report. In order to achieve the targeted income or to show better reported earnings in their financial report, even though the company doesn't performing really good, commonly managers are tend to manipulate earnings. In manufacturing industry, one feasible method of earnings manipulation is through real earnings management. Real earnings management that has been done by the manager will give direct impact on decreasing the ability of the financial report in predicting the future profitability of the company and, thus, may disadvantaging for the investor and any other stakeholder. The measurement of future profitability can be done by calculating the company’s future operating cashflow.
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Pengaruh Cash Dividend Coverage, Operating Cashflow Per Share, Return On Equity, Return On Assets, Total Assets Turnover, dan Earning Per Share terhadap Harga Saham pada Perusahaan Manufaktur yang Terdaftar di BEI

Pengaruh Cash Dividend Coverage, Operating Cashflow Per Share, Return On Equity, Return On Assets, Total Assets Turnover, dan Earning Per Share terhadap Harga Saham pada Perusahaan Manufaktur yang Terdaftar di BEI

Corporate’s financial performance is one of the factors that influences the up and down of stock price in capital market. One of corporate’s financial performance measure is shown in the form of financial ratios. These financial ratios are used by investors as their investment decision-making. The purpose of this research is to analyze the relationship between Cash Dividend Coverage (CDC), Operating Cashflow Per Share (OCPS), Return On Equity (ROE), Return On Assets (ROA), Total Assets Turnover (TATO), and Earning Per Share (EPS) to stock price empirically.

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THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENT TOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN MANUFACTURING COMPANIES (Empirical Study of Companies Listed in BEI from 2009 until 2012).

THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENT TOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN MANUFACTURING COMPANIES (Empirical Study of Companies Listed in BEI from 2009 until 2012).

The third method of REM is reducing discretionary expense in the current period. Discretionary expenses in here are like research and development expenses (R&D) and selling, general and administrative expenses (SG&A). Expenses such as: salary expense, depreciation, and taxation also will be excluded from discretionary expense in this research. Even though the company will get higher earnings in the current period for reducing such expenses, but actually it will give lower operating cashflow in the future. For example, if manager decide to reduce discretionary expense such as advertising expense, the company will lack of sales and potentially decrease their market share. In manufacturing industry, it is important to have a good advertisement in order to attract customers and boost their sales. If a company reduce their advertising expense, then, they cannot compete with their competitors in terms of selling their product. Therefore, company engaging in REM by reducing their discretionary expense will have effect on lower future operating cashflow.
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CONCLUSION THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENT TOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN MANUFACTURING COMPANIES (Empirical Study of Companies Listed in BEI from 2009 until 2012).

CONCLUSION THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENT TOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN MANUFACTURING COMPANIES (Empirical Study of Companies Listed in BEI from 2009 until 2012).

This study investigates the impact of real earnings management on future operating cash flow of the firm by taking three measurement of real earnings management which is sales manipulation, overproduction and reduction of discretionary expense and using two control variables. From the testing and data analysis, it is revealed that real earnings management has negative impact toward future operating cashflow. It is in accordance with the alternate hypothesis and be accepted.

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THEORETICAL FRAMEWORK AND HYPOTHESES DEVELOPMENT THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENT TOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN MANUFACTURING COMPANIES (Empirical Study of Companies Listed in BEI from 2009 until 2012).

THEORETICAL FRAMEWORK AND HYPOTHESES DEVELOPMENT THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENT TOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN MANUFACTURING COMPANIES (Empirical Study of Companies Listed in BEI from 2009 until 2012).

The third method of REM is reducing discretionary expense in the current period. Discretionary expenses in here are like research and development expenses (R&D) and selling, general and administrative expenses (SG&A). Expenses such as: salary expense, depreciation, and taxation also will be excluded from discretionary expense in this research. Even though the company will get higher earnings in the current period for reducing such expenses, but actually it will give lower operating cashflow in the future. For example, if manager decide to reduce discretionary expense such as advertising expense, the company will lack of sales and potentially decrease their market share. In manufacturing industry, it is important to have a good advertisement in order to attract customers and boost their sales. If a company reduce their advertising expense, then, they cannot compete with their competitors in terms of selling their product. Therefore, company engaging in REM by reducing their discretionary expense will have effect on lower future operating cashflow.
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INTRODUCTION THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENT TOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN MANUFACTURING COMPANIES (Empirical Study of Companies Listed in BEI from 2009 until 2012).

INTRODUCTION THE INFLUENCE OF REAL ACTIVITY EARNINGS MANAGEMENT TOWARD FIRM’S FUTURE OPERATING CASHFLOW IN INDONESIAN MANUFACTURING COMPANIES (Empirical Study of Companies Listed in BEI from 2009 until 2012).

The real earnings manipulation that executed by the managers definitely will give effect to the companies financial performance. Even though it is more likely to give benefits in the short term, but actually it will also possibly decline the company’s financial performance in the future. The indicator of the financial performance that used in this research is operating cash flows. Therefore, the problem statement in this research is:

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Standard Operating Procedure (SOP)

Standard Operating Procedure (SOP)

Agar kegiatan kemahasiswaan tersebut dapat terlaksana dengan baik sesuai dengan capaian yang diinginkan, maka perlu adanya pedoman atau standard operating procedure (SOP). Oleh karena itu, standard operating procedure (SOP) ini dan dimaksudkan sebagai pedoman untuk pelaksanaan kegiatan kemahasiswaan bagi pihak-pihak terkait di Fakultas Ekonomi dan Bisnis Islam UIN Sumatera Utara.

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Standard Operating Procedure (SOP)

Standard Operating Procedure (SOP)

Salah satu kegiatan akademik yang dilaksanakan FEBI adalah Pembimbingan Akademik Mahasiswa yang berperan untuk meningkatkan kualitas mahasiswa dan menunjang keberhasilan mereka dalam menyelesaikan studi. Agar pembimbingan akademik mahasiswa dapat terlaksana dengan baik sesuai dengan ketentuan yang diinginkan, maka perlu adanya pedoman atau Standard Operating Procedure (SOP). Oleh karena itu, Standard Operating Procedure (SOP) ini disusun dan dimaksudkan sebagai pedoman untuk pelaksanaan kegiatan Pembimbingan Akademik Mahasiswa bagi pihak-pihak terkait di Fakultas Ekonomi dan Bisnis Islam UIN Sumatera Utara.
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Standard Operating Procedure (SOP)

Standard Operating Procedure (SOP)

Agar kegiatan praktikum dapat terlaksana dengan baik sesuai dengan tujuan yang diinginkan, maka perlu adanya standard operating procedure (SOP). Oleh karena itu, standard operating procedure (SOP) ini disusun dan dimaksudkan sebagai pedoman untuk pelaksanaan kegiatan praktikum bagi pihak-pihak terkait di Fakultas Ekonomi dan Bisnis Islam UIN Sumatera Utara.

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Standard Operating Procedure (SOP)

Standard Operating Procedure (SOP)

Agar perkuliahan dapat terlaksana dengan baik sesuai dengan capaian yang diinginkan, maka perlu adanya pedoman atau standard operating procedure (SOP). Oleh karena itu, standard operating procedure (SOP) ini disusun dan dimaksudkan sebagai pedoman untuk pelaksanaan kegiatan perkuliahan bagi pihak-pihak terkait di Fakultas Ekonomi dan Bisnis Islam UIN Sumatera Utara.

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Perkembangan operating system pada sebua

Perkembangan operating system pada sebua

Fitur yang tidak kalah menarik adalah operating system ini sudah mendukung cloud computing atau dalam hal modern ini sering kita menggunakan berbagai software yang berada di internet dengan akses melalui browser saja. Cloud computing ini akan membuat kinerja komputer lebih ringan karena semua proses data dikerjakan dalam server yang ada di pusat (tidak satu tempat dengan komputer yang

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Cost Management Accounting & Control, Chapter 10

Cost Management Accounting & Control, Chapter 10

Return on investment ROI the most common measure of performance for an investment center ROI = Operating income ÷ Average operating assets = Operating income ÷ Sales  Sales ÷ Average[r]

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SUB TOTAL (OPERATING COST)

SUB TOTAL (OPERATING COST)

EQUIPMENT BULDOZER MODEL YEAR MADE ATTACEHMENT STANDARD JOB TYPE COAL PILLING FIELD CONDITION SEDANG PROJECT RUNNING PERIOD EXCHANGE RATE Rp/US $ Rp BOOK VALUE/DELIVERED [r]

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Presentation: Operating growth trends continue

Presentation: Operating growth trends continue

29 Operating growth trends continue „ GAAP earnings affected by non-operating items „ Sustained growth in customer businesses „ Better sequential operating performance in Hong Kong.[r]

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Penggunaan Sistem Operasi Open Source vs

Penggunaan Sistem Operasi Open Source vs

gratis dan didukung oleh banyak pihak, namun apakah sistem ini dapat dipakai begitu saja? Untuk kalangan pemerintahan, penggunakan operating sistem linux menjadi hambatan, karena kurangnya SDM yang mengerti tentang linux dan pembelajaran tentang linux yang menjadi momok bagi pegawai negeri yang sudah terbiasa dengan Windows™, apalagi jika pegawai yang

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Ekotek 6. Alternatif Ekonomi Investasi ROR

Ekotek 6. Alternatif Ekonomi Investasi ROR

IRR Evaluasi Investasi • Seperti NPW dan AE, IRR juga digunakan untuk analisis kelayakan suatu investasi • IRR adalah tingkat kemampuan investasi/cashflow dalam mengembalikan moda[r]

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ANALISIS PENGARUH PROFITABILITAS, DEFICIT INTERNAL CASHFLOW, COST OF FINANCIAL DISTRESS, INVESTMENT OPPORTUNITIES DAN NET OF DIVIDEND TERHADAP STRUKTUR MODAL (Studi Kasus Perusahaan Manufaktur yang Terdaftar di BEI).

ANALISIS PENGARUH PROFITABILITAS, DEFICIT INTERNAL CASHFLOW, COST OF FINANCIAL DISTRESS, INVESTMENT OPPORTUNITIES DAN NET OF DIVIDEND TERHADAP STRUKTUR MODAL (Studi Kasus Perusahaan Manufaktur yang Terdaftar di BEI).

dan French (2002); Frank dan Goyal (2003); dan Gurcharan (2010). Penelitian tersebut pada prinsipnya memiliki tujuan untuk mencari faktor yang dapat mempengaruhi struktur modal perusahaan dengan membandingkan antara dua teori struktur modal, yaitu teori pecking order dan teori static trade-off. Penelitian yang dilakukan oleh Shyam-Sunder dan Myers (1994) serta Frank dan Goyal (2003) lebih fokus terhadap pengaruh deficit internal cashflow terhadap perubahan struktur modal perusahaan sesuai dengan teori pecking order dimana hasil penelitian menunjukkan bahwa apabila perusahaan memiliki deficit internal cashflow dengan nilai positif menunjukkan bahwa kebutuhan akan pendanaan ekstenal semakin meningkat. Kemudian dengan mendasarkan pada teori struktur modal, hasil penelitian juga menunjukkan bahwa perusahaan lebih memilih pendanaan eksternal yang berasal dari hutang terlebih dahulu daripada penerbitan saham, terlihat dari rasio leverage yang semakin tinggi seiring dengan tingginya deficit internal cashflow yang dialami perusahaan.
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Materi Kelas X

Materi Kelas X

Hubungan seluruh Sistem Komputer yang telah dibahas diatas dengan Sistem Operasi atau Operating System, sangat berkaitan erat, dikarenakan tanpa adanya Sistem Operasi atau Operating Sys[r]

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ProposalUsahaWMM 2012

ProposalUsahaWMM 2012

Analisa keuangan Lampirkan analisis investasi, rencana cashflow, estimasi rugi laba, laporan rugi laba dan hal-hal lain yang mendukung usaha anda misalnya struktur pendanaan... PROGRAM [r]

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PERLINDUNGAN HUKUM TERHADAP INVESTOR PADA KOPERASI YANG DIBEKUKAN KEGIATAN USAHANYA (STUDI PADA KOPERASI CIPAGANTI KARYA GUNA PERSADA)

PERLINDUNGAN HUKUM TERHADAP INVESTOR PADA KOPERASI YANG DIBEKUKAN KEGIATAN USAHANYA (STUDI PADA KOPERASI CIPAGANTI KARYA GUNA PERSADA)

Berhubung cashflow yang tidak memungkinkan dan untuk memudahkan konsolidasi beban kewajiban, Koperasi CKGP memohon kepada seluruh mitra usaha Koperasi CKGP untuk menghapus kewajiban Kope[r]

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