Postemployment Benefits Research Articles

Analisis Penerapan PSAK 24 Mengenai Imbalan Pasca Kerja Pada PT Bank Negara Indonesia (Persero) Tbk

This research was conducted at a state-owned enterprise (SOE) operating in the financial sector, specifically in banking, namely PT Bank Negara Indonesia (Persero) Tbk, commonly referred to as BNI. The aim of this study is to examine the presentation and reporting of the implementation of PSAK 24 employee benefits, particularly post-employment benefits at PT Bank Negara Indonesia Tbk. The data used in this research is entirely secondary data, and the analytical technique employed is a descriptive quantitative method. The data used in this study includes the financial statements of PT Bank Negara Indonesia Tbk for the period 2020-2022. The data was collected from PT Bank Negara Indonesia Tbk and the official website of PT Bank Negara Indonesia Tbk. The results of the research at PT Bank Negara Indonesia Tbk indicate that the presentation and reporting of employee benefits are in accordance with PSAK 24. The employee benefits of PT Bank Negara Indonesia Tbk are recorded in the income statement, and in the statement of financial position, they are recorded as a liability account for employee benefits. The differences in the gains (losses) of employee benefits are recorded in the comprehensive income statement.

Analisis Penerapan PSAK 24 Tentang Imbalan Kerja Pada PT Sinar Kencana Tech

This research aims to determine the application of PSAK 24 regarding employee benefits at PT Sinar Kencana Tech. This research method is a qualitative descriptive method, namely this research was carried out by conducting interviews, observation and documentation techniques with PT Sinar Kencana Tech employees who can provide additional information and data that may be needed in this research. So that it provides a clear enough picture to analyze and compare with existing theory according to PSAK 24 and its application at PT Sinar Kencana Tech. The data used is primary data in the form of direct interviews with the director of PT Sinar Kecana Tech. After conducting the analysis, the research results show that PT Sinar Kencana Tech has implemented measurement, recognition and disclosure in terms of salary provision, annual leave and paid sick leave, profit sharing and bonuses, post-employment benefits, defined contribution programs, and appropriate long service awards. with PSAK 24, but PT Sinar Kencana Tech has not implemented measurement, recognition and disclosure of non-monetary benefits, post-employment benefits (post-employment life insurance and postemployment service facilities), defined benefit programs, paid long-term absences such as long-term leave or leave sabbatical, permanent disability benefits and deferred remuneration.

ANALYSIS OF APPROPRIATE EMPLOYMENT BENEFITS WITH PSAK 24 ON PT. TRI STARMANDIRI

This study aims to find out how the application of employee benefit accounting at PT. Tri Star Independent. Researchers took the object of research at PT. Tri Star Independent. The data analysis method used is qualitative analysis with a descriptive approach. This research data is obtained from primary and secondary data. Data collection techniques in the form of literature research and field research are direct interviews with the company, namely the head of the finance room. The results of research at PT. Tri Star Mandiri can be concluded that the benefits of employment at PT. Tri Star Mandiri can be categorized into four categories based on PSAK 24, namely short-term employee benefits, postemployment benefits, long-term benefits and severity pay for termination of employment contracts. Of the four employee benefits, only short-term employee benefits applied are in accordance with PSAK 24. While the other three employee benefits, namely post-employment benefits, long-term benefits, and severity pay, are only post-employment benefits for defined benefit programs applied and are in accordance with PSAK 24 while defined contribution programs are not applied and long-term employee benefits, severance has not been applied so it does not need to be adjusted to PSAK 24.

ANALYSIS OF THE APPLICATION OF ENTITY FINANCIAL ACCOUNTING STANDARDS WITHOUT PUBLIC ACCOUNTABILITY ABOUT EMPLOYEE BENEFITS WITH THE IMPORTANCE PERFORMANCE ANALYSIS METHOD

This research aims to determine the application of SAK ETAP regarding employee benefits and the method for calculating SAK ETAP employee benefits in private companies in Jabodetabek as well as the impact of implementing the Job Creation Law on SAK ETAP calculating employee benefits using the Importance Performance Analysis method. The research methodology used in this research is descriptive quantitative. The population in this research are private companies in Jabodetabek. The sampling technique in this research used simple random sampling with a sample of 100 respondents. Analysis of this research data uses validity tests, reliability tests, and Importance Performance Analysis (IPA). The results of this research indicate that the implementation of SAK ETAP regarding employee benefits in private companies involves the process of recording, measuring and reporting employee benefits given to employees, the method for calculating SAK ETAP employee benefits in private companies is divided into 4 calculations, namely Short-Term Employee Benefits, Post-Employment Benefits, Other Long-Term Employee Benefits, and Severance Pay, as well as the impact of the implementation of the Job Creation Law on SAK ETAP for calculating Employee Benefits using the Importance Performance Analysis method. It can be concluded that company policies regarding employee benefits may change after the implementation of the Job Creation Law.

IMPLEMENTATION OF THE SEVERANCE PAYMENT AGREEMENT FOR EMPLOYEES OF PT. GADING BHAKTI

PT. Gading Bhakti, a private company and subsidiary of PT. Mapoli Raya, operates in the palm oil plantation and processing industry. In 2021, PT. Mopli Raya, its parent company, was declared bankrupt under Decree Number 17/pdt-SUS-PKPU/2020/PN.Niaga Medan and Law No. 13 of 2003, Employment Article 95 paragraph 4, mandating debt settlement as a priority for bankrupt companies. Despite this, PT. Gading Bhakti failed to fulfill debt payments to 25 retired employees, resulting in the non-payment of their post-employment benefits. The research aims to investigate the implementation of the severance payment agreement by PT. Gading Bhakti and the company's measures to meet its obligations toward employee severance. The research methodology employed was the empirical juridical method, observing ongoing events and directly examining PT. Gading Bhakti's implementation of the severance payment agreement. Furthermore, the study explores the company's attempts to fulfill the severance payment for its employees. Regrettably, the implementation of the agreement resulted in a breach of contract, with severance payments not being duly honored. Various efforts were made, including rescheduling the agreement and submitting severance payment documents. On the other hand, the employees sought resolution through verbal warnings, mediation, media involvement, and seeking assistance from relevant authorities concerning the unclear situation of severance payments for PT. Mapoli Raya's ex-employees (PT. Gading Bhakti being its subsidiary). In conclusion, the study highlights the challenges faced by retired employees in receiving their post-employment benefits and the need for PT. Gading Bhakti to effectively fulfill its obligations regarding severance payments.

Accounting and Financial Analysis on AbbVie

Since the outbreak of the COVID-19 in 2021, the pharmaceutical industry has received a significant impact. Abbvie, one of the top research-based biopharmaceutical companies around the world, has faced a large amount of challenges during this period. To explore Abbvie's operating status during this particular time, we have studied its annual report for 2021 and provided an analysis and assessment. This paper summarizes Abbvie's complex accounting policies regarding revenue recognition, research and development expenses, pensions and other post-employment benefits, and analyzes the company's trends in revenue and net income over the last 5 years in order to make basic projections for the next developments. In addition, the paper also calculates various financial ratios to obtain the financial performance of the company for the current year, and derives its short-term solvency, long-term solvency, asset management and profitability. Finally, the paper summarizes the risks that Abbvie is facing and the strategies to deal with them, in order to better expose the problems faced by the company and help it to better define its development direction.

Comparison Analysis of Accounting Standards for Entities Without Public Accountability and Financial Standards for Private Entities of SMEs in Indonesia

IFRS SME establishes standards that serve as recommendations for preparing financial reports for small and medium-sized businesses. SME IFRS originates from all IFRS simplifications intended to simplify financial reporting and cost-benefit analysis for SME clients. The Financial Accounting Standards for Organizations Without Public Accountability (SAK ETAP), established on May 19, 2009, continues to oversee private businesses' financial accounts. However, SAK ETAP does not give advice to private firms on the explanation of gross revenue that is directly relevant to taxes determination. As a consequence, Indonesia has established a new SAK for private firms known as the SAK EP. The use of SAK EP in the preparation of financial statements for micro, small, and medium-sized enterprises (MSME) can simplify the use of international accounting standards, lowering the higher costs associated with full IFRS implementation and the emergence of numerous new accounts and changes in financial statement presentation. New accounts include accounts for current tax, deferred tax, employee benefit duties, and post-employment benefit liabilities, as well as revised accounts for accruing costs, equity, and comprehensive income (expenses).

EVALUATION OF THE IMPLEMENTATION OF PSAK 24 REVISION 2015 REGARDING EMPLOYMENT BENEFITS ESPECIALLY POSTEMPLOYMENT AT PT BA BANGUNAN

Employee benefits are obligations of every company that has a major influence on the company from an external perspective such as stakeholders in this case the company owner or creditors and internal such as workers who will have a direct impact on the company's performance. Due to its great influence on the company, it is deemed necessary for the purpose of this study to properly disclose in accordance with generally accepted financial accounting standards. This study uses a qualitative descriptive research method. The results of the research at PT BANGUNAN Pondok Cabe, South Tangerang, it can be concluded that the employee benefits at PT BA BANGUNAN can be categorized into three categories based on PSAK 24, namely short-term employee benefits, post-employment benefits, and severance pay. PSAK 24. Company management should remain consistent in the application of PSAK 24 so that information on employee benefits reporting remains reliable.

When it matters to keep promises: Funding of retiree benefit and government borrowing cost

While funding of retiree benefits has become a critical challenge to the fiscal sustainability of U.S. local governments, little is known about the consequences of public expenditures on OPEBs and pensions. This study examines whether and when annual contributions to other post-employment benefits (OPEBs) plans affect government borrowing costs. By reducing unfunded liabilities, OPEB contributions may decrease borrowing costs. As two parts of deferred employee compensation, expenditure tradeoffs may exist between OPEBs and pension contributions. Fiscal capacity can further moderate these expenditure tradeoffs. Results show that, as U.S. city and county governments make more contributions to OPEB plans, they pay lower borrowing costs when the pension contribution is low and when fiscal capacity is low. They pay higher borrowing costs when the pension contribution is high and when fiscal capacity is low. These findings suggest that the savings of borrowing costs from OPEB contributions depend on the tradeoffs between OPEB and pension expenditures and the availability of fiscal resources.

EVALUASI PENERAPAN PSAK 24 REVISI 2015 MENGENAI IMBALAN KERJA KHUSUSNYA PASCA KERJA PADA PT BA BANGUNAN (Studi Kasus Pada PT BA Bangunan Pondok Cabe Pamulang Tangerang Selatan)

This Employee benefits are obligations of every company that has a major influence on the company from an external perspective such as stakeholders in this case the company owner or creditors and internal such as workers who will have a direct impact on the company's performance. Due to its great influence on the company, it is deemed necessary for the purpose of this study to properly disclose in accordance with generally accepted financial accounting standards. This study uses a qualitative descriptive research method. The results of the research at PT BANGUNAN Pondok Cabe, South Tangerang, it can be concluded that the employee benefits at PT BA BANGUNAN can be categorized into three categories based on PSAK 24, namely short-term employee benefits, post-employment benefits, and severance pay. PSAK 24. Company management should remain consistent in the application of PSAK 24 so that information on employee benefits reporting remains reliable.

Doprinos računovodstva ljudskih resursa profitabilnosti privrednih društava - konglomerata kotiranih na Nigerijskoj berzi

This study is aimed at evaluating the impact of human resource accounting for the profitability of Nigerian listed conglomerate companies. The secondary data used in the study were collected from the audited annual reports of the six conglomerate companies quoted on the Nigerian Stock Exchange in the period from the year 2010 to 2019. The panel regression technique was adapted for the purpose of the analysis of the collected data. The results show that the cost of staff training and staff development, changes in employees' salaries and post-employment benefits have a positive significant impact on the profitability of the Nigerian conglomerate companies. The study then concludes that human resource accounting positively contributes to the profitability of Nigerian conglomerate companies and provides the recommendations reading that Nigerian companies should invest more in their employee training and development.

Municipal OPEB Contributions: The Roles of Governance Structure, Fiscal, and Socioeconomic Factors During and After the Great Recession

Many governments offer other postemployment benefits (OPEB) to their employees, and discretionary contributions to OPEB plans are important to plan financial well-being. This paper reports a study of municipalities' actual annual contributions to their OPEB plans from fiscal year 2008 through 2015, a time span encompassing the Great Recession and subsequent gradual recovery. Giving effect to cities' governance structure (form of organization and extent of employee unionization) and certain fiscal and socioeconomic variables, we estimate a model of plan contributions normalized by the related actuarially required contributions. We find that Mayor-Council (MC) cities are associated with comparatively higher OPEB plan contributions relative to Council-Manager cities. We control for MC cities' discount rates to address the consequences of optimistic rate assumptions. The effect of unionization on contributions is evident directly, but unionization is not noteworthy when conditioned on form of government. This suggests that MC cities manage their OPEB plans in a fiscally accountable manner.

Analysis of influence factors audit delay (Study at KAP in Surabaya and Malang)

The purpose of this study was to find out whether the factors of company size, auditor opinion on company financial statements, KAP size, length of time the company has been a KAP client, quality of assigned KAP auditor staff, level of company internal control and post-employment benefits (actuarial) have an effect on audit delay both jointly or partially referring to primary data in the form of KAP auditor opinion in Surabaya and Malang. Audit delay is the length of time for audit completion as measured from the closing date of the financial year to the date of issuance of the audit report. This audit delay results in reduced benefits of the contents contained in the financial statements. This research was conducted in Surabaya and Malang. Data collection was carried out by giving questionnaires to respondents. The number of questionnaires distributed was 90 questionnaires to auditors at KAPs that were officially registered in Surabaya and Malang. The collected data will then be processed using the SPSS 12.0 program and analyzed using the regression method. Two important things that must be considered by investors in investing in the capital market are the expected benefits and risks that may occur. Along with the increasing number of companies going public in Indonesia, the demand for financial statement audits is also increasing. Therefore, financial reports audited by independent auditors must be published within a predetermined time. Conversely, if the financial statements audited by independent auditors are published beyond the specified time, then the audited financial statements experience audit delay. The test results using the F test show that all the factors studied together have a significant effect on the Audit Delay variable. While the results of the t test show that all the factors studied also have a significant positive effect on the Audit Delay variable.

UTJECAJ MRS 19 AKTUARNIH OBRAČUNA NA FINANCIJSKU UČINKOVITOST: NA PRIMJERU JAVNIH PODUZEĆA U FEDERACIJI BOSNE I HERCEGOVINE

International Accounting Standard 19 - Employee Benefits outlines the accounting requirements for employee benefits, including short-term benefits, post-employment benefits, other long-term benefits and termination benefits. The standard establishes the principle that the cost of providing employee benefits should be recognized in the period in which the benefit is earned by the employee, rather than when it is paid or payable, and outlines how each category of employee benefits is measured. Aim of the paper is to determine the degree of IAS 19 implementation in Federation of Bosnia and Herzegovina, and its impact on financial performance of public enterprises. Since no significant negative impact of the implementation of IAS 19 on the financial performance has been proven, it could be recommended that the observed entities consider all its advantages and thus realize the potential benefits for both, the company and the employees.

OPEB Accounting and Teacher Diversity

Despite extensive literatures documenting the importance of teacher diversity and teacher compensation, few studies explore relationships between the two. Fewer still examine effects of governmental accounting standards, even though these standards evolve regularly and could have substantial implications for how school districts allocate resources. I use staff- and district-level data from California to explore the effects on the teaching force of a change in accounting standards that required districts to recognize the costs of retiree health benefits (and other postemployment benefits, or OPEBs) as employees earned them. By making the true costs of this deferred compensation more apparent, this reform may have changed teachers’ incentives or encouraged districts offering such benefits to shift expenditures toward other aspects of compensation or working conditions more highly valued by relatively novice teachers (e.g., higher salaries). I illustrate how such reforms could impact the diversity of the teaching force by showing how teachers of different races and genders were likely to be differentially affected by deferred compensation policies due to differences in previous experience (and thus proximity to retirement). However, comparative interrupted time series analyses do not show that districts affected by the change in accounting standards saw their teaching staffs diversify at different rates than other districts. Thus, while the costs of deferred compensation are likely an important—and underdiscussed—factor in determining the diversity of the teaching force, accounting reforms alone are unlikely to moderate their impacts on the race and gender composition of teachers, at least in the medium term.

Does financial disclosure matter? GASB 45 and municipal borrowing costs

ABSTRACT Financial disclosure is crucial to achieve fiscal transparency and government accountability. In 2004, the Governmental Accounting Standards Board (GASB) issued Statement No. 45 to require the disclosure of information about other postemployment benefits (OPEB). Using a panel of U.S. counties and the bonds they issued between 1999 and 2012, this paper examines the effects of GASB 45 on municipal borrowing costs. GASB 45 increases borrowing costs of county governments, with the effects decreasing over time. GASB 45 has a larger effect on borrowing costs of county governments issuing bonds of lower credit quality and adopting the generally accepted accounting standards (GAAP).

기업의 사회적 책임과 배당정책 및 퇴직급여제도

[연구목적] 본 연구는 기업의 사회적 책임활동과 배당정책 및 퇴직급여제도간 관련성에 관심을 가진다. CSR은 배당정책에 긍정적이거나 부정적인 영향을 미칠 수 있다. 본 연구는 CSR 활동을성실히 수행하는 기업일수록 적극적인 배당정책을 통하여 주주들과 이익을 공유하고 부의 배분에 대한 책임있는 의사결정을 하는지 분석한다. 그리고 CSR이 우수한 기업일수록 확정급여제도를 통하여 퇴직 종업원들의 불확실성을 완화시키고 위험을 공유하는 사회적책임을 이행하는지 규명해 보고자 한다. [연구방법] 2014년에서 2018년까지 유가증권시장 상장기업 중 경제정의연구소의 KEJI 지수가 이용가능한 기업을 표본으로 선정하여 실증분석을 수행한다. 현금배당여부와 배당성향, 그리고 확정급여제도여부와 확정급여채무 및 사외적립자산 비율을 각각 종속변수로 하는 OLS 회귀분석을 수행한다. [연구결과] 실증분석 결과, CSR이 우수한 기업일수록 적극적인 현금배당을 실시한다는 증거를 발견하였다. CSR 활동을 성실히 수행하는 기업일수록 도덕자본의 축적으로 위험이 감소하고 수익성이 향상됨에 따라 적극적인 배당정책을 활용하고 부의 배분에 대한 책임있는 의사결정을 하는 것으로 확인되었다. 그리고 CSR을 적극적으로 이행하는 기업일수록 확정급여채무 비율이 높고 사외적립자산 비율이 높은 것으로 나타났다. CSR이 우수한 기업일수록 확정급여채무를 부담하고 사외적립자산을 적극적으로 적립함으로써 종업원들의 미래 불확실성을 완화시키고 안정적인 생활수준에 기여하며 구성원들과 위험을 공유하고자 하는 것으로 나타났다. [연구의 시사점] 이러한 결과는 CSR이 우수한 기업일수록 수익 창출에 대한 경제적 책임뿐만아니라 창출된 이익의 균등한 배분이나 구성원들과의 위험 공유에 대해서도 사회적인 관심을 가지고 책임을 이행하며, 이와 같은 사회적 책임 활동이 다시 기업가치 향상으로 이어져 기업의 지속적인 성장 발전을 위한 선순환의 고리로 연결될 수 있다는 시사점을 제공한다.

Tratamiento de beneficios post-empleo bajo las NIIF en las compañías de transporte de carga pesada

Se tiene como objetivo elaborar un manual de procedimientos contables y tributarios para el tratamiento de beneficios post-empleo en las compañías de transporte de carga pesada en el Cantón La Troncal bajo NIIF para PYMES y la revelación de información sobre beneficios a empleados. De tipo descriptiva no experimental con diseño de campo. Los empresarios se enfocan en el cumplimiento de las obligaciones tributarias a fin de evitar sanciones por parte de la administración tributaria como multas, clausuras, suspensión de actividades, decomisos o incautaciones, dejando en segundo plano la contabilidad. Es importante la contratación del actuario independiente calificado por los organismos de control para el cálculo de la reserva matemática actuarial de las reservas por jubilación patronal y desahucio, son estos profesionales los que tienen la experticia necesaria para valoración de pasivos laborales.

Financial Actuarial Assumptions: Empirical Study of How Brazilian Companies Manage Their Defined Benefit Plans

This study investigates the factors that Brazilian companies use to manage their defined benefit plans, specifically the determinants of the three financial actuarial assumptions: discount rate, expected return on assets and compensation growth rate. The focus of this research is the companies listed on the B3 – Brazilian Stock Exchange - that recognized and disclosed, from 2010 to 2017, post-employment benefit characterized as Defined Benefit (DB). The sample containing 296 firm/year was divided into two subgroups considering the firm’s political connections. The results suggest that politically connected companies are less effective in managing the solvency of funds or, according to Kido, Petacchi and Weber (2012) act intentionally to justify the company's financial stress. The year before the elections proved to be the most relevant period of discretion, while the specific year of the electoral election only influences the determination of the actuarial financial premises in politically connected companies and, just like in Naughton, Petacchi and Weber (2015) the manager acts to improve the solvency (reduce the deficit) of the pension fund in these periods. The hypothesis that politically connected companies have an incremental adjustment in actuarial assumptions in electoral years has shown results consistent with the theory suggesting that this group of companies manages the reduction of the actuarial deficit in election times more incisively

The real effects of financial reporting on pay and incentives

This paper discusses two real effects of financial reporting on pay and incentives: (1) Better earnings leads to better incentives, and (2) If pay is mismeasured, pay can be misused. The first real effect follows from the fact that incentives are often based on earnings, and the effectiveness of earnings-based incentives is positively related to the quality of earnings. Greater use of earnings in incentives provides better incentives at a lower cost. The second real effect has to do with how well the accounting system measures the expense of various pay components. Complex calculations are required to value complex pay components such as options, post-employment benefits, and performance-vested equity, and these calculations have historically not been done correctly. The incorrect accounting leads to these pay components being misused. I conclude by discussing how accounting and disclosure of pay and incentives can be improved.