Evaluation of Accounting Policies for the Recognition, Measurement, and Presentation of Ex-Liquidation Assets: A Case Study of Institution XYZ

Dian Endah Kurniawati; Nanda Ayu Wijayanti

doi:10.24843/EJA.2026.v36.i01.p14

Authors

Dian Endah Kurniawati Faculty of Economic and Business, Universitas Indonesia, Indonesia
Nanda Ayu Wijayanti Faculty of Economic and Business, University of Indonesia, Indonesia

DOI:

https://doi.org/10.24843/EJA.2026.v36.i01.p14

Keywords:

ex-liquidation assets, conceptual framework for financial reporting, accounting policy, accounting information

Abstract

Institution XYZ faces challenges in reformulating accounting policies for ex-liquidation assets following findings by the Supreme Audit Agency. This study aims to evaluate the asset recognition policy against the Conceptual Framework for Financial Reporting, ensure that the measurement policy achieves relevance and faithful representation, and verify that the presentation policy adheres to principles of transparency and public accountability. The research utilizes data collection methods comprising documentation, interviews, and benchmarking. The findings indicate that the policy of recognizing these items as contingent assets is inconsistent with the conceptual framework, as the items meet the definition of an asset. Regarding measurement, due to the absence of an active market for ex-liquidation assets, Institution XYZ employs a Level 3 fair value measurement hierarchy with the assistance of independent appraisers. The asset presentation policy classifies these assets within the Statement of Financial Position to enhance faithful representation; however, the disclosure of estimation uncertainty requires improvement to align with transparency principles. The transition to on-balance-sheet recording necessitates an initial assessment and more reliable measurement.

References

Ashari, Hasan and Nugrahanti, TP. (2017). Implication of Liquidation Method to Recovery Rate and Residual Asset: The Case of Rural Banks in Indonesia. Scientific Journal of PPI-UKM, 4(1). https://doi.org/10.27512/sjppi-ukm/ses/a15012018

BPK. (2016-2023). Laporan Hasil Pemeriksaan atas Laporan Keuangan Lembaga XYZ Tahun 2016-2023.

Cascino, S., Clatworthy, M. A., Osma, B. G., Gassen, J., & Imam, S. (2021). The Usefulness of Financial Accounting Information: Evidence from the Field. Accounting Review, 96(6), 73–102. https://doi.org/10.2308/TAR-2019-1030

Durocher, S., & Fortin, A. (2021). Financial statement users’ institutional logic. Journal of Accounting and Public Policy, 40(2), 106819. https://doi.org/10.1016/J.JACCPUBPOL.2021.106819

Fung, B., George, J., Hohl, S., & Ma, G. (2004). Public Asset Management Companies in East Asia A Comparative Study. www.bis.org

Hardani, Andriani, H., Ustiawaty, J., Utami, E. F., Istiqomah, R. R., Fardani, R. A., Sukmana, D. J., & Auliya, N. H. (2020). Metode Penelitian Kualitatif & Kuantitatif. CV. Pustaka Ilmu Group Yogyakarta.

IADI. (2014). IADI Core Principles for Effective Deposit Insurance Systems. International Association of Deposit Insurers Publication.

IAI. (2019). Kerangka Konseptual Pelaporan Keuangan. Dewan Standar Akuntansi Keuangan – Ikatan Akuntan Indonesia.

Pahleviannur, M. R., Grave, A. D., Saputra, D. N., Sinthania, D., Hafrida, L., Bano, V. O., Susanto, E. E., Mahardhani, A. J., Amruddin, Alam, M. D. S., Lisya, M., & Ahyar, D. B. (2022). Metodologi Penelitian Kualitatif.

Pulvino, T. C. (1998). Do Asset Fire Sales Exist? An Empirical Investigation of Commercial Aircraft Transactions. The Journal of Finance, 53(3), 939–978. https://doi.org/10.1111/0022-1082.00040

Schroeder, R, G. et al (2020). Teori Akuntansi Keuangan: Teori dan Kasus (Ed. 12). Jakarta: Salemba Empat.

Shleifer, A., & Vishny, R. W. (1992). Liquidation Values and Debt Capacity: A Market Equilibrium Approach. The Journal of Finance, 47(4), 1343–1366. https://doi.org/10.1111/j.1540-6261.1992.tb04661.x

Suprayogi Imam. (2022). Analisis Pelaporan Keuangan Program Restrukturisasi Perbankan (Studi Kasus pada Lembaga Penjamin Simpanan). UNIVERSITAS INDONESIA.

Lembaga XYZ. (2024). Peraturan Lembaga XYZ Tahun 2024 tentang Penanganan Bank yang Mengalami Permasalahan Solvabilitas.

Lembaga XYZ. (2022). Peraturan Lembaga XYZ Tahun 2019 tentang Pencatatan Transaksi dan Pelaporan Keuangan Bank Dalam Likuidasi.

Lembaga XYZ. (2022). Peraturan Lembaga XYZ Tahun 2022 tentang Likuidasi Bank

Lembaga XYZ. (2022-2024). Laporan Tahunan Lembaga XYZ Tahun 2021-2023

Pulvino, T. 1998. Do Asset Fire Sales Exist? An Empirical Investigation of Commercial Aircraft Transactions. https://doi.org/10.1111/0022-1082.00040

Richard G. Schroeder, Mrytle W. Clark, Jack M. Cathey. Teori Akuntansi Keuangan: Teori dan Kasus Edisi 12,2020. Jakarta. Salemba Empat

Shleifer, A., & Vishny, R. W. (1992). Liquidation Values and Debt Capacity: A Market Equilibrium Approach. The Journal of Finance, 47(4), 1343–1366. https://doi.org/10.1111/j.1540-6261.1992.tb04661.x

Yin, R.K. (2009). Case Study Research: Design and Methods Fourth Edition. Los Angeles: Sage Publisher.