MASALAH KEAGENAN DAN KEPEMILIKAN PEMERINTAH SERTA DAMPAK KEUANGAN NEGARA ATAS IMPLEMENTASI ISAK 8 (Studi Kasus PT. PLN Persero)

Abstract

The presence of State-Owned Enterprises (SOEs) for Indonesia is very helpful for the government in success of economic development and national income. In carrying out government programs, SOEs are required to presented transparency of financial statements to the public. The author's research is a case study of the financial statements of PT. PLN (Persero) and the central government during the 2014-2016 period. During the observation period, researchers conducted a study of the application of ISAK 8 policy to the financial statements of PT. PLN (Persero) and its impact on LKPP, then linking it with agency theory and ownership. The results of the three-year analysis show obstacles for PT. PLN (Persero) on the application of ISAK 8 makes the value of the DER ratio high so that LKPP is affected. This condition creates conflict where management (agent) wants a low DER ratio to get external funding without the application of ISAK 8, while the principal (government) has an interest in reducing the impact of ISAK 8 on LKPP. For full government ownership of PT. PLN (Persero), the government is able to influence a financial policy and annul the implementation of ISAK 8 through Presidential Regulation. Thus it can be concluded that the dominant ownership of the government can intervene in ISAK 8 policy which is actually important to be applied as a material for public assessment and investors so that the financial statements conform to financial accounting standards.Keywords: ISAK 8, DER, PT. PLN (Persero), LKPP