Efektivitas Penerapan Metode Problem Posing dan Tugas Terstruktur terhadap Prestasi Belajar Mata Kuliah Akuntansi Pokok Bahasan Jurnal Penyesuaian Mahasiswa Semester I Jurusan Akuntansi

Amir Mahmud, S.Pd., M.Si.
Bestari Dwi Handayani, S.E., M.Si.


The Study was based on the reality of Basic Accounting lecture especially adjustment process. During the lecture, most of the students couldn,t participate actively. They didn’t show their self awairness in learning. Based on the reality arouse whether the problem posing and structure task learning model could improve the students self awairness in learning or not. In line with the problem, the objective of this study is to get the description of the teaching experience employing the problem posing and structure task learning model improve the students capability. This study is the pre-experiment study. The object of this study consist in two classes, the first class is the treatment class, wich problem posing and structure task learning model treatment and the second class is the control class with conventional model learning. The setting of the study is the first semester students of Basic Accounting Accounting Program, Economics Faculty, the State University of Semarang. The data were collected through test. Independent sample t-test and paired sample t-test were used to analysed data. The result of this study shared that use of problem posing and structure task learning model could improve the students self awareness in learning. It was because they were free to decide their own learning objective and source. All students in treatment class actively in decision making.

Key Words:     Learning Process, problem posing and structure task learning model, adjustment process.

Pengukuran Kepuasan Mahasiswa terhadap Pelayanan Pendidikan di Jurusan Akuntansi Politeknik Negeri Medan

Rini Indahwati, S.E., Ak, M.Si


The quality of educational system supports the establishment of a high quality’s human resources. One of the important measurements for the quality of educational system could be conducted in the way of the Total Quality Management’s Concept. This concept told us that institution’s quality could be measured with the capability to meet their consumers’ expectation. The students were the most important consumers in educational system. This research aims to measure the student’s satisfaction for the services that given by Jurusan Akuntansi Politeknik Negeri Medan. This research also rating the services based on the Surat Keputusan Menteri Pendayagunaan Aparatur Negara Nomor: KEP/25/M.PAN/2/2004.

Implementation of Refined Hyperview of Learning (rHOL) on Management Accounting Learning Process (An Etnographic Study)

 Ari Kamayanti 
Aji Dedi Mulawarman


The purpose of this paper is to describe the implementation of Love Based Accounting Education (LBAE) through refined Hyperview of Learning (rHOL) as the core of humanity learning process. The essence of rHOL is purification process. The result described its impacts on learning process to suit faith towards God to free accounting education from secularism and corporate hegemony. The implications on accounting students’ learning conceptions on three management accounting topics: ABC, TQM and BSC, that are definitely secular and support corporate hegemony, were portrayed by extending ethnography by phenomenology. This method is named exetnography. The presence of secularism and corporate hegemony cause the disregard for local values and local needs respectively. The role of educator has become an important factor in implementing rHOL since he/she must trigger and maintain the purification process throughout the learning process. The results were astonishing since there were shifts of students’ consciousness in three varying degrees (verstehen, critical, reconstruction/deconstruction). Both educator and students were enlightened since renewed consciousness to return to local values and local needs emerged as a result of rHOL implementation.
Keywords: LBAE, rHOL, Purification, ABC, TQM, BSC, Ethnography, Phenomenology, Exethnography

 1. Introduction

Despite the staggering efforts to improve accounting curriculum, the state of accounting education in Indonesia is in status quo. Change is often difficult and the lack of discussion about teaching and curriculum is a significant barrier to change for many accounting educator (Ainsworth, 2001). The fact that education process in Indonesia is still textbook based and adopts the western education system demonstrates how we are drifting away from our local norms towards deeper end of secularization.  Secularization takes place when the spirit of self-liberation from mythologies causes agnosticism in God. This is the spirit from the west that knowledge would advance only if one could free oneself from religion (Kuntowijoyo, 1999: 160-161). Beaver agreed (1987) that the problems of accounting education hinged on secularism; that there is a “long-standing and highly cherished tradition of separation of church and state”. Hence, accounting education has become a focal point as it produces future accountants.

The Long-Run Performance of Initial Public Offerings: Comparasion Between Shari'ah and Non Shari'ah-based Firms

Suherman and Agung D. Buchdadi

Faculty of Economics State University of Jakarta


This paper empirically investigates the difference of the performance between shariah-based and non shariah-based firms that listed on the Jakarta Stock Exchange (JSX) during the period July 2001 to December 2005. The results show that, when using equally-weighted cumulative abnormal return (EW-CAR) and equally-weighted buy-and-hold abnormal return (EW-BHAR), the long-run performance of IPOs return between shariah and non shariah firms are significantly different. However, the significance disappears when the returns are calculated with value-weighted cumulative abnormal return (VW-CAR) and value-weighted buy-and-hold abnormal return (VW-BHAR). Further, the results show  that shariah-based firms outperform the market in almost every month for two years, except month 7 and 10 when using VW-CAR. However, non shariah-based firms underperform in almost each month.

Key words: long-run performance, IPO, shari’ah, equally-weighted, value-weighted.

1. Introduction
In recent years, the academic community has closely examined and intensely debated the performance of IPOs, particularly in the long-run. The analysis of the long-run returns is directed towards a methodological approach. Thus, Barber and Lyon (1997), Kothari and Warner (1997), Brav and Gompers (1997), Fama (1998),  Lyon, Barber and Tsai (1999), Loughran and Ritter (2000), Gompers and Lerner (2003), Ang, Gu, and Hochberg (2005), and Ahmad-Zaluki, Campbell, and Goodacre (2007) have argued that the method of performance measurement influences both the magnitude of the abnormal returns as well as the size and power of the statistical test.

Does Investor Protection Prevent Earnings Management Activity Through Real Acitivity Manipulation? Asian Comparasion

Dr. Sony Warsono, MAFIS, Akt
(Gadjah Mada University)

Ratna Candra Sari
(Universitas Negeri Yogyakarta)

Sri Suryaningsum
 (UPN Veteran Yogyakarta)


This paper examines systematic differences in earnings management through real activity manipulation across 6 Asia countries. Contrary with Leuz (2003) finding that earnings management through accrual manipulation is lower in economies with high investor protection than in low investor protection. We predict that  in economies with high investor protection, manager prefer to manage earnings through real activity manipulation rather than through accrual manipulation. Because accrual manipulation is more likely to draw auditor or regulator scrutiny than real decisions about pricing and production. Our findings are consistent with our prediction.

Keyword: earnings management, real activity manipulation, investor protection

Legal systems protect investors by conferring on them rights to discipline insiders (e.g., to replace managers), as well as by enforcing contracts designed to limit insiders’ private control benefits (e.g., La Porta et al., 1998; Nenova, 2000; Claessens et al., 2002; Dyck and Zingales, 2002).2 As a result, legal systems that effectively protect outside investors reduce insiders’ need to conceal their activities. Investor protection as a key institutional factor affecting corporate policy choices (see Shleifer and Vishny, 1997; La Porta et al., 2000), we focus on investor protection as a significant determinant of earnings management activity. Leuz (2003) find: earnings management is more pervasive in countries where the legal protection of outside investors is weak, because in these countries insiders enjoy greater private control benefits and hence have stronger incentives to manipulate firm performance. Leuz measure earnings management with accrual manipulation, but beside manage earnings through accrual management, manager also can manage earnings through other method such as real activity manipulation and classification shifting. Accrual manipulation is more likely to draw auditor scrutiny than real decision. Thus, the purpose of this study is to investigate does investor protection reduce effectively earnings management through real activity manipulation.

Earnings and Cash Flow Performances Surrounding IPO

Tatang Ary Gumanti


Initial public offerings (IPOs) offer a fruitful area to be explored given the existence of asymmetric information among various parties interested in the IPO. This study attempts to examine whether there is significant increase in earnings level prior to the offering to be interpreted as the existence of earnings management. The behaviour of cash flow from operation is also examined. A sample of 35 Indonesian IPOs that made public during 2002-2005 periods was examined. The t-test for mean difference was performed to test whether earnings differences persist. The findings show that earnings level tends increase in the year closes to the IPO date, but decrease in the next two year after that. The behaviour of cash flow from operating activities is almost similar. However, this study is unable to state that earnings management is strongly evidenced in Indonesian IPO setting.

 Keywords: IPOs, prospectus, earnings and cash flow performance

1. Introduction
This study examines earnings management of Indonesian initial public offerings (IPO). Companies offering shares publicly for listing are required by the securities law to meet certain financial and operating criteria. Because of the major impact of the offering prices on their private wealth and the explicit use of accounting numbers, particularly accounting earnings, the managers and the major stockholders of IPO firms have the incentives to manage earnings numbers to maximize their private wealth.

Accounting in The Goldern Age of Singosari Kingdom: A Foucauldian Perspective

Eko Ganis Sukoharsono
Novrida Qudsi
Department of Accounting
Brawijaya University


The aim of this study is to explore the history of accounting in Indonesia. In this case, a particular period of Indonesia history – the form and the existence of the accounting system in the Singosari Kingdom era – is the focus of the investigation. In the context of this study, accounting is not simply a method of calculation, but it is a discipline with complex phenomena in which it influences the individual, organizational, and social orders. In addition, the range of its aspects is from social, political and economic point of view. This study is conducted by using a Foucauldian concept of the relation between the power and knowledge. The historical accounting researchers use the Foucauldian approach to show the accounting complexity of the power and knowledge structures within a society. This approach shows the accounting system as a valuable social science for disciplining the society and manifesting a comprehensive political power within the society. Then the major concern of the methodological analyses in the accounting research is to disclose how accounting becomes a disciplinary power and constitutive activity of knowledge. The kingdom of Singosari (1222-1292) was historically closely related to the foundation of Majapahit kingdom, particularly in the field of public finance and administrative accountability. There was a fact that during Singosari and Majapahit kingdom, state-craft stressed the importance of a full treasury for successful governmental activities. Both kingdoms evolved a regular system of taxation. The taxation system, in some extent, was a complex system in which it provided the tax for merchandise in various tariffs and different types of levies based on the commodities and the problems occurred. The complex system of the taxation would not be possible without involving the accounting in term of calculability. One of the particular developments of the accounting system in form of writing during the Singosari kingdom was related to the mechanism in which writing was used for the purpose of administration and accountability of the tax collection in the royal court of the Singosari kingdom. The records of tax collection were reflected in simple forms. For instance, the Inscription of Turyyan mentions that the earning of the society in a year was equal to 1 kati and 3 gold swarna. Then it can be concluded that the development of accounting in Indonesia is not an instant process, but it emerged through a long and complex process of the history. The kingdom of Singosari used accounting as a technique to discipline the subjects under the kingdom’s territory. Through this study, it is clear that accounting had a significant role as a supporting means of the Singosari kingdom development. It did not merely provide the technical calculation, but also the diverse roles in social, economic, and political life.

From the beginning of its emergence, accounting has shown its role and function in the society as a system which processes and provides financial information. It develops continuously in a line with the change in the society, especially in the business society. Furthermore, during these days accounting is considered as a study concerning the money and number in which both things are the main points in the calculation. Moreover,  accounting cannot also be separated to the time. We cannot stop and turn every event back; we cannot know the consequence of each event before it is done or we cannot also know before the event happens. Then we call it the past, the present, and the future time (Chambers, 1998). The past events in accounting are usually called the history of accounting; the present time is the time where accounting exists; meanwhile the future time is called prediction (Sukoharsono, 2005).

Determinants of Stock Markets Reaction Toward Legal Requirements of CSR in Indonesia

Gatot Soepriyanto
Accounting Department Bina Nusantara (BINUS) University

Rudy Suryanto
Accounting Department - Muhammadiyah University Yogyakarta (UMY)


Prior study on stock market reaction toward mandatory Corporate Social Responsibility (CSR) implementation law in Indonesia (article 74, Law No. 40/2007 on Limited Liability Company) present evidence that the equity investors from firms whose deal with or related to the management of natural resources, reacted positively to the passage of the law. This suggests that investors view mandatory CSR implementation law as “a good news” which in the long run may increase firm values. This study, therefore, aims to investigate the economic determinants that drive positive market reactions, as we found that the magnitude of the reactions were vary among companies taken as sample. We address five hypotheses that investor reaction is explained by: (a) size of firms, (b) profitability of firms, (c) leverage of firms, (d) how long the firm has been established and (e) whether the firms in are engaged in mining or non-mining industry. These hypotheses are investigated through cross-sectional regression analysis on firms that directly affected by the CSR law. We conclude that the stock market reaction toward the law is determined by size, leverage, age of firms and whether firms are engaged in mining industry or not. It also concludes that investors react more (less) positive to small (big) firms and high (low) leverage firms, suggesting that the investor consider the law as “insurance” for company to sustain their operation.

Keywords: CSR Mandatory Law, Stock Market Reaction, Economic Determinants

 1. Introduction
After a heated debate on whether mandatory corporate social responsibility (CSR) implementation would benefit or harm the company, the House Representative (DPR) finally approved the bill on July 20, 2007 – which require a company whose activities deal with or related to the management of natural resources to carry out a CSR program. This mandatory rule is enacted under article 74 of Law no. 1, 2007 on Limited Liability Company (PT). Based on such research setting, Soepriyanto and Suryanto (2008) examine stock price reactions to the passage of the bill – specifically to the share price of firms that directly affected by the law (i.e. seven sub industries whose activities deal with or related to the management of natural resources) and find some evidence that on average, equity investors react positively to the approval of mandatory CSR implementation law. Their result consistent with prior studies which suggested that CSR will help investor to minimize exposed risk of the companies (Heugens, 2007, Chih. et.al, 2007, Sarre, 2001) and maintain companies’ reputation (Rowe, 2007). In summary, their result supports the view that CSR program will contribute positively to the firm value.

Analysis of Selling, General and Administrative Cost Stickness on Net Sales at Different Economic Condition (Empirical Study of Manufacturing Company Listed in The Indonesia Stock Exchange

Astri Novianti
Primanita Setyono


A traditional theory of cost behavior is that cost responses mechanically to activity volume. Mechanical means that cost adjust without management intervention. The purpose of this research is to investigate whether cost is “sticky” in different economic condition. The cost is sticky if whether cost increases more when volume rises than they decrease when volume is fallen by an equivalent amount. 69 manufacturing firms listed in the Jakarta Stock Exchange from 1993 to 2004 (divided into three period) were taken as sample using purposive sampling method. The statistical method used to test hypotheses is panel data log linear regression. The result of this study shows that: 1) cost stickiness is not found before and after economic crisis period, but it is found in during economic crisis period. 2)The degree of stickiness increases with employee intensity in each period with the highest stickiness before economic crisis. 3)The degree of stickiness increases with asset intensity before economic crisis period. While, during and after economic crisis, the degree of stickiness decrease with the increase asset intensity.

Keywords: Cost Behavior, Economic Crisis, Selling, General and Administrative Cost, Employee Intensity, Asset Intensity

According to Cashin & Polimeni (1998, p.19), cost is defined as the benefits given up to acquire goods or services. It means that cost is spent out by company in order to this company gets benefits in the future. Related to volume, there are three kinds of cost varied with changes in the volume of production; fixed cost, variable cost, and semi-variable cost. Three of these costs have different behavior depending on the change of input or output. In traditional theory of cost behavior, cost is divided into fixed and variable cost in which cost responses mechanically to activity volume. Mechanical means that cost adjust without management intervention (based on production schedule). However, there are many arguments regard to this characterization of cost behavior which is inconsistent with the way that managers manage cost (Cooper &  Kaplan, 1998 cited in Anderson & Lanen, 2007), such as the action of managers in deliberately adjusting resources as response to changes in volume. This matter effects on costs which increase more when volume rises than they decrease when volume is fallen by an equivalent amount. It is called as sticky cost. From the definition, it is shown that sticky cost is an asymmetric reaction to activity change.

The Effect of Cognitive Style and Sponsorship Bias on The Treatment of Opportunity Costs in Resources Allocation Decisions

H. Alfian
(Fakultas Ekonomi Universitas Lambung Mangkurat, Banjarmasin)


The current research seeks to identify factors that may potentially influence the way managers respond to opportunity costs when relevant data are not explicitly provided. Identification of such factors should enhance our understanding of why some managers respond to opportunity costs in ways that may be inconsistent with normative economic theory. This information could then be used to identify those situations in which structural and procedural precautions are necessary to correct limitations and biases in human information processing and so ensure the correct treatment of opportunity costs. Disability of individual processes of perception dimension of Jungs’ typology on research of Chenhall & Morris (1991) to explain difference of managers’ way to making decision, lead us to research questions are: first, which cognitive style combination have a proclivity to incorporate implicit opportunity costs in their economic analysis? Second, used of two dimensions of cognitive style, will project sponsorship encourage managers to ignore negative economic signals derived from opportunity costs that are nevertheless relevant to the resource allocation decision? A laboratory experiment with 2x4 factorial designs was used to investigating the effect of cognitive style on the managers’ decision of opportunity costs in situation of absence sponsorship or not. The results indicated that intuitive managers tended to incorporate opportunity costs in their decisions whereas sensation individuals appeared to focus more on the directness of the relationship between expenditure and a project to determine the relevance of the cost. Opportunity cost implications tended not to be identified by the sensation group. Evidence was found that sponsorship moderated the influence of cognitive style on decision to include opportunity costs.

Keywords: Cognitive style, sponsorship bias, and opportunity cost

The incorporation of opportunity costs into resources allocation decisions is stressed in normative approaches to both management accounting (Horngren & Foster, 1987) and capital budgeting (Brealy & Myers, 1984). However, empirical evidence on the way managers respond to opportunity costs has revealed a variety of behaviours. Some studies have demonstrated that managers do include opportunity costs (Neumann & Friedman, 1978; Friedman & Neumann, 1980), while others have questioned whether decision makers correctly include the concept in their resources allocation decisions (Becker et al., 1974; Buzzell & Chussil, 1985; Northcraft & Wolf, 1984; Kaplan, 1986). Several studies have demonstrated that decision makers tend to include opportunity cost data only when explicitly provided (Friedman & Neumann, 1980; Northcraft & Neale, 1986). However, research on decision making in organizations indicates that managers frequently lack knowledge about alternatives (March, 1987). Typically, managers do not have explicit and relevant information on a well-defined set of alternatives. March (1987) refers to the identification of alternatives as the main uncertainty facing managers in the decision making process. Chenhall & Morris (1991) examined how managers treat opportunity costs in the common decision situation where explicit information on these costs is lacking. Chenhall & Morris (1991) argued that decision makers’ cognitive style , and the existence of project sponsorship, will influence their response to opportunity costs in situations in which the relevant information is implicit.

What Determines Internal Control Weakness? An Empirical Analysis of State Owned Enterprises Audite by State Audit Agency

Ronny Prabowo
Hosanna Christy W.
Benedicta Dhias Ayu Nita Sari
Prodi Akuntansi FE UKSW Salatiga


A material weakness in internal control is defined as a significant deficiency, or combination of significant deficiencies, that result in more than a remote likelihood that a material misstatement of the annual or interim financial statement will not be prevented or detected. Section 404 of the Sarbanes-Oxley Act (Management Assessment of Internal Controls) stipulates that management of publicly listed firms has to evaluate the effectiveness of their internal controls over financial reporting and disclose the identified material weakness. Numerous articles aim to find empirical evidence of factors influencing weakness of internal control. In Indonesia, publicly listed firms are yet obliged to disclose their material weakness of internal control. However, BPK (as the state audit agency) report the material weakness of internal control over entities’ financial reporting in their audit report of state-owned enterprises (SOE or BUMN). The report enables us to empirically analyze influencing factors of internal control weakness over BUMN  financial reporting. There are four independent variables to be hypothesized to influence internal control weakness (WEAK): profitability (PROFIT), firm size (SIZE), growth rate (GROWTH), and the presence of complex transaction (COMPTRANS). Additionally, we also employ one control variable (FORM or legal form of SOE: Persero or non-Persero). Empirical results show that without control variables, only SIZE is significantly associated with WEAK (for univariate and multivariate analysis). However, the direction of effect of SIZE on WEAK (positive) is contradictory with the hypothesized direction (negative). After including control variables, the power of regression equation is slightly increasing. However, still only SIZE significantly affect WEAK with contradictory direction. 

Keywords    : Internal control, Internals control weakness, state-owned enterprises (SOE)

Enron’s accounting scandal (revenue mark-up and hiding liability with the use of off balance sheeet financing) has captured US public attenttion. The fraud eroded investors’ trust to invest in US public firms. This condition leads to the issuance of The Sarbanes-Oxley Act in 2002 to restore public confidence. This act was initiated by Senator Paul Sarbanes (Maryland) dan Representative Michael Oxley (Ohio), and has been ratified by President George W. Bush on July 30 2002. This act was the response of US Conggress on numerous accounting scandals performed by some US big firms which also involves “the big five” accounting firms, such as Arthur Andersen, KPMG, and PWC.

Hubungan Skeptisisme Profesional, Auditor dan Situasi Audit, Etika, Pengalaman serta Keahlian Audit dengan Ketepatan Pemberian Opini Auditor oleh Akuntan Publik

Maghfirah Gusti and Syahril Ali
Universitas Andalas


The purpose of this research is to determine the significant level between the auditor’s professional scepticism and audit situation, ethics, experience also audit expertise with the accuracy of audit opinion by public accountant. This research done by survey method to partner and senior auditor in public accountant office in Sumatra. Data analysis conducted by using multiple regression analysis. Hypothesis testing to determine whether any significant relationship between auditor’s professional scepticism and audit situation, ethics, experience also audit expertise with the accuracy of audit opinion by public accountant. The result of hypothesis testing showed significant relationship between auditor’s professional scepticism and the accuracy of audit opinion by public accountant. Meanwhile, only audit situation has significant relationship with the accuracy of audit opinion by public accountant. Other three variables, which are ethics, experience and audit expertise have no significant relationship with the accuracy of audit opinion by public accountant.

Key words: auditor’s professional scepticism, audit situation, ethics,  experience, audit expertise, the accuracy of audit opinion by public accountant.

Pengaruh Komitmen terhadap Kepuasan Kerja Auditor Internal: Motivasi sebagai Variabel Moderating (Penelitian pada Kantor Yayasan Pendidikan Internal Audit Jakarta)

Diah Wijayanti


This study entitled “THE IMPACT OF COMMITMENT ON INTERNAL AUDITORS’ JOB SATISFACTION : MOTIVATION AS A MODERATING VARIABLE (Research in Yayasan Pendidikan Internal Audit Jakarta). The purpose of this study is to make analysis of the significant impact of commitment, including organizational commitment and professional commitment on internal auditors’ job satisfaction. In addition, to analyze whether motivation represents as a moderating variabel in the relationship between organizational commitment - job satisfaction and professional commitment - job satisfaction. This study is expected to give useful implications not only for organizations or enterprises which hire internal auditor and internal auditors theirself who attend the Qualified Internal Auditor Certification in Yayasan Pendidikan Internal Audit-The Internal Audit Professional Traninig and Development Center-Jakarta who are used as the subject of this research but also for students interested in behavioral accounting course. The main data collection method was conducted by quetionnare. Simple random sampling and multiple regression tools are used for analysis. The result of the first hipothesis examination shows that organizational commitment (x1) has no significant impact on internal auditors’ job satisfaction. The result of the second hipothesis examination shows that professional commitment (x2) has no significant impact on internal auditors’ job satisfaction. Then, the result of the third hipothesis examination shows that interaction between organizational commitment and motivation (Zx1-Zx3) does not have an effect on the job satisfaction and last, the result of the fourth hipothesis examination shows that interaction between professional commitment and motivation (Zx2-Zx3) does not have an effect on the job satisfaction which means that here, in this reseacrh, motivation does not represent as a moderating variable.

Keywords : Internal Auditor, Organizational Commitment, Professional Commitment, Job Satisfaction and Motivation.

Pengaruh Orientasi Etika pada Komitmen dan Sensitivitas Etika Auditor (Studi Empiris pada Auditor di Bengkulu dan Sumatera Selatan)

Nurna Aziza, SE, MSi, Ak
H. Andi Agus Salim, SE, MSi, Ak


Failure or deviation in audit that conducted by auditors have need an ability of the auditors to considering ethics and behavior in auditing implementantion, by recognize the ethics problems that emerge in auditing implementation. AICPA have requirement the auditors to accustomed their professional sensitivities and moral consideration in their whole activities (Anderson and Ellyson, 1986). Therefore, an auditor who has sensitivity towards ethics problems will be more professional. The study was referred to study of Shaub et al. (1993), used path analysis to examine the effects of ethics sensitivity of auditors (described as ability to confess ethics characteristic under professional situation of an auditor) at: (1) personal ethics orientation that formed by culture and personal experiences, (2) commitment of organization, and (3) professional commitement. It was also examining the effect of ethics orientation and professional commitment toward organizational commitment. Sample amount is 32 auditors who active in CPA of Bengkulu and South Sumatera. Result has indicated that ethic orientation of auditors has affected their professional commitment level. High idealism of auditor has also high professional commitmeb than relativism. The Auditors who have such type will have more acceptable and believe in subjects and values of accountant profession, loyal to accountant profession. It is also indicated that there is high significant effect between auditors who have commitment to their profession and organizational commitment. Professional commitment and organizational commitment have not significant effect to ethics sensitivity, it is proofed that CPA and profession organization have less support the auditors in understanding and recognizing the ethics problems (such as: less frequently in tranining the auditor related to the ethics). But, result of correlation matrix of both variables have significant context to ethics sensitivities.

Keywords: Idealism, relativism, professional commitment, organizational commitment and ethics sensitivity.

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Pengalaman Audit, Red Flags dan Urutan Bukti

I Wayan Suartana (Program Maksi FE Universitas Udayana-Bali)
                         I Wayan Kartana (FE Universitas Warmadewa-Bali)


Hogart and Einhorn (1992) proposed and tested a descriptive model of belief adjustment. They posited that individuals are sequential processors of information who employ an anchoring and adjustment strategy to incorporate new evidence in an evaluation task. Issues in order effect in an audit environment have been investigated by many researchers. The result suggests that order effects in judgment of professional auditor is strong. This study analyzed the existence of order effect and proposed audit experience and red flags in order effect analysis. In the context of auditing, a situational task related factor is presence/absence of red flags. Data were collected through experiment using 47 auditors and  70 students. The experiment task evaluated of going concern. This study found the followings. Firstly, that experience accentuated order effects. Finally, the red flags affect belief revision differently depending on order.

Key Words: order effect, audit experience, and red flags

Structuration Understanding of Investigate Audit Practice at BPK-RI Representative Office in Surabaya (Case Study Corruptino Criminal)

Gemalia Dwi Agustina
Drs. M. Achsin, SH., MM., Ak.

The research is a qualitative research by using interpretive approach, while its focuses are understand investigative audit practice at BPK-RI Representative office in Surabaya, to understand both individual and organizational role in interaction context, and also to understand both individual and organizational role in social environment. Thus, the method used in case study, which describes a dynamical understanding in case context that can give a description to a problem and also can test the theory which combine objectivism and subjectivism with the main informant is Mr. Kardi as the leader of investigative audit team. Furthermore, the case here is corruption criminal case in Badung Regency of Bali. In this case, there are four divergences: (1) financial aid to DPRD, (2) insurance cost, (fund of DPRD post-service, and (4) financial aid to DPRD work visit. Based on the research result the writer done, it shows that investigative audit practice is done on three stages including planning stage, implementation stage, and reporting stage. In investigative audit implementation it self, investigative auditor (agent) has difference power to its organization. The professional life view, where everything is not assessed from material aspect, rises conscious for the agent himself. Discursive conscious is formed by rejection ability to any forms of bribery. Practical conscious is formed by his loyalty to the given regulation, while unaware motivation is formed by auditor’s bravery to deal with all forms of threat and pressure in investigative audit implementation. Spiritual conscious is formed with spiritual firmness in to stand challenge and threats. Individual and organizational role interaction context is shows by team leader authority of investigative audit practice in structuration theory to meet domination element. The regulation maintenance in the form of agent’s loyalty to UU NO. 15 year 2006 and BPK-RI regulation year 2007 fulfils legitimization to investigative auditor. The individual an organizational role in social environment is reducing the bribery practice by rejecting all kind of bribery and is returning back the social environment that already to be wrong, which indulge in glorification of individualism and materialism, by defending local values had by agents in the form values had by agents in the form of collectivity, honesty, and bravery.

Keywords: corruption, investigative audit, structuration, and conscious. 

Faktor-faktor yang Mempengaruhi Perusahaan Berpindah Kantor Akuntan Publik

Shulamite Damayanti, SE., M.SA (HumBis), Ak
Universitas Ma Chung Malang

Prof. Dr. Made Sudarma, SE., MM., Ak
Universitas Brawijaya Malang


The need of auditing service has influenced the development of public accountant profession in Indonesia. The number of public accountant firms increasing may result in competition between public accountant firms.  In such condition, a corporation may change their auditor (auditor changes). The purpose of thus research is to know whether the change of management, accountant opinion, audit fee, financial distress, public accountant firm’s size, and the percentage of the change of Return on Assets may influence limited corporations in Indonesia to change their auditors. This research is hypothesis testing. Secondary data consists of financial statements and certified public accountant’s statement of limited corporations listed in Bursa Efek Jakarta (BEJ) from 2003 until 2005. The data is analyzed with logistic regression. This research results in audit fee and public accountant firm’s size as variables influencing auditor changes and the change of management, accountant opinion, financial distress, and the percentage of the change of Return on Assets as variables not influencing auditor changes. The most significant variable is public accountant firm’s size as the indication of audit quality. Thus, audit quality is an important factor influencing auditor changes. Besides, audit fee is also an important variable influencing auditor changes.

Keywords: limited corporation, auditor changes

Pengaruh Identifikasi Auditor atas Klien terhadap Objektivitas Auditor dengan Audior Tenure, Client Importance dan Client Image sebagai Variabel Anteseden (Penelitian terhadap Auditor Kantor Akuntan Publik yang Listed di BEJ dengan Pendekatan Partial Least Square)

Universitas Panca Marga-Probolinggo

H. Abdul Rohman
Universitas Diponegoro Semarang

Universitas Diponegoro Semarang


This study examines the influence of PAuditors’ Identification with Their Client on Auditors’ Objectivity with Auditor Tenure, Client Importance and Client Image as Antesedent Variable. Continuing research  by Bamber and Iyer in 2005, as for becoming object from this research is auditors at Accounting Firms which listed  in Bapepam and Jakarta Stock Exchange (BEJ) in Indonesia. This research represents the empirical test which used convinience sampling technics  in data collection. Data were collected using a survey of 104 auditors at Accounting Firms. Data analysis uses Structural Equation Model  (SEM) with the program SmartPLS (Partial Least Square).

Results of hypothesis examination indicate that to three factor in Social Identity Theory is auditor tenure (AT), client importance (CI) dan client image (CM) have positively influences on Client identification (CID). The conclusion that auditors do identify with their client and that auditors who identify more with a client are more likely to acquiecence to the client-preferred position. On the other hand, more experienced auditors and auditors who exhibit higher level of professional identification are less likely to acquiesce to the client’s  position.

Keywords: Auditor Objectivity, Client Identification, Auditor Tenure, Client Importance, Client Image, Professional Identification, Social Identity Theory, Structural Equation Model (SEM), Partial Least Square.

Analisis Perbandingan Kinerja Keuangan Bank Muamalat Indonesia Periode 1992-1998 dan 1999-2006

Ratna Sahara
Nunung Nurul Hidayah
Universitas Al Azhar Indonesia


Through several years we have been seen the remarkable development of syariah banking in Indonesia. The pioneer in syariah banking establishment is Bank Muamalat Indonesia (BMI). BMI also had a good rating through many years, and could develop many innovative products. This research will examine the performance competitiveness of BMI before and after the existence of competitors in time series manner. We will use CAMEL method to analyze the BMI’s performance over eleven years. To justify whether there is differences of BMI’s competitive performance before and after the existence of its competitors, we also examine the differences of competitive performance of BMI’s and Bank Syariah Mandiri (BSM). We choose BSM as a credible competitor because of its significant development after BMI’s existence.
Keywords: Syariah Banking Performance, Competitive Performance, CAMEL Method

Eksistensi Laporan Nilai Tambah Syariah Berbasis Rezeki

Aji Dedi Mulawarman
Universitas Cokroaminoto Yogyakarta


The objective of this research is to prove the existence of Shari’ate Value Added Statement from the real transaction and business habitus of Indonesian Moslem Society. Study is conducted by utilising Hyperphenomenology Methods. The major result shows that rizq becomes a substance of  Shari’ate Value Added concept. This means that rizq is actually value added gained (financial, social and environmental) and has been purified (becomes halal, thoyib and free from riba) in every process of its attainment, result to distribution. The consequences of the major result are that the form of the Shari’ate Value Added Statement have quantitative and qualitative elements that must be stated in one form, not separated.

Keywords: Rizq, Shari’ate Value Added, Shari’ate Value Added Statement.

Perbandingan Kinerja Reksa Dana Syariah dengan Reksa Dana Konvensional

Alumni Program Magister Akuntansi Fakultas Ekonomi Universitas Sebelas Maret

Eko Suwardi
Universitas Gadjah Mada

Doddy Setiawan
Universitas Sebelas Maret

The objective of this research is to evaluate the balanced shariah mutual fund performance compared with the balanced conventional mutual fund performance during the bull market of 2004-2006. Mutual fund performance can be measured by using Jensen Index, Sharpe Index, Treynor Index, MM Index, and TT Index. The information about security selection and market timing ability can be measured by using Henriksson-Merton Model and Treynor-Mazuy Model. The statistic methods used to test hypothesis are one sample t-test, independent sample t-test, simple regression analysis, and multiple regression analysis. Finally, the results show that the conventional mutual funds have been able to outperform the shariah mutual funds. This underperform of shariah mutual fund performance can be happened because portofolio managers do not have superiority skills in security selection and market timing and also the differences of each mutual fund attributes. Based pn the investigation of the data that is ot significant it indicates implication that investors and potential investors have the option to switch between these shariah mutual funds  and  conventional mutual funds depending on the market conditions and their personal preferences.

Keywords: shariah mutual funds, conventional mutual funds

Reaksi Pasar Modal Indonesia terhadap Pengumuman Penerbitan Obligasi Syariah

Nunung Ghoniyah
Jenar Widayati


The purpose of this research is to analyze Indonesian capital market reaction to sharia bonds issue announcement  that indicated with abnormal return and trading volume activity changes. This research explored the issue by applying two methods of analysis: the event study methodology for analyzing the market reactions, and the analysis of statistical differences caused by event sharia bond issue announcement. Samples of this research consist of 9 emitens based on purposive sampling method. Abnormal return and cumulative abnormal return used to measure  market reaction. One sample t – test and paired sample t – test is used in testing abnormal return and trading volume activity differences before and after sharia bonds issue announcement. The results of this research shows abnormal return for  date sharia bond issue announcement positive but statistically not significant. Further, this study found some statistically not significant differences abnormal return and  trading volume activity between pre and post event day. In other word, sharia bonds issue announcement  not containing the meaningful information (information content) for investor.

Key word : Shariah bonds announcement, abnormal return and trading volume activity

Kesenjangan Harapan antara Nasabah dan Manajemen terhadap Penyampaian Informasi Keuangan dan Non Keuangan Bank Syariah: Studi Empiris Bank Syariah di Yogyakarta dan Surakarta

Rizal Yaya
Ahim Abdurrahim
Peni Nugraheni

Universitas Muhammadiyah Yogyakarta


The use of revenue sharing between depositors and the bank in the operation of Islamic Banks, has created an agency problem. Regarding with this problem, Banks should provide both financial and non financial information for the depositors. This research tries to find out the possibility of the existence of expectation gap in the information provided by banks as the provider of information to the depositors as the user of the information. Based on asymmetry information theory, depositors as a party with less information, would demand more information to the banks. However for some reasons, banks might restrict the information provided to the depositors. One hundred forty-nine customers consists of mudharabah saving account customer, mudharabah investment account customer, wadiah current account customer and financing customer and ninety six staffs of Islamic banks in Yogyakarta and Surakarta have been surveyed with questionnaire. This research used independent sample t-test in analyzing the expectation gap of the two groups. The result shows that in general, there is no expectation gap between overall customers and Islamic Banks Managers in both financial and non financial disclosure. But there exists expectation gap between mudharabah investment account customer and Islamic Bank Managers in financial and non financial disclosure.

Keywords׃ Expectation Gap, Islamic Bank, Depositors, Asymmetry Information, Financial Information, Non Financial Information 


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