Increase the accuracy and credibility of financial information

Oct 13, 2025 by leolavanderia.com.br 25 views

Application of Financial Accounting Standards in the Presentation of the Income Statement of PT (Persero) Angkasa Pura II Polonia Airport Medan

Introduction

The income statement is a crucial financial statement that provides a systematic summary of the income and cost of a business unit in one period. It is a vital tool for stakeholders, including investors, creditors, and regulators, to assess the financial performance and position of a company. In this study, we examine the application of financial accounting standards in presenting the income statement at PT (Persero) Angkasa Pura II Polonia Airport Medan. The aim is to find out whether the presentation of the income statement is in accordance with financial accounting standards or not.

Background

PT (Persero) Angkasa Pura II Polonia Airport Medan is a state-owned airport operator that provides various services, including aeronautical and non-aeronautical revenues. The company's financial performance is influenced by various factors, including the demand for air travel, competition, and economic conditions. As a result, it is essential to present the income statement in a way that accurately reflects the company's financial position and performance.

Methodology

This study uses a descriptive analysis method to examine the application of financial accounting standards in presenting the income statement at PT (Persero) Angkasa Pura II Polonia Airport Medan. The data used is primary and secondary data, which were collected through interviews and documentation. The results of the study are presented in the following sections.

Results

The main source of income of PT (Persero) Angkasa Pura II Medan Polonia Airport originated from Aeronautical and Non-Aeronautical Revenues. Revenue and cost recognition is based on an accrual basis method, which recognizes income when services or goods have been given, regardless of whether the payment has been received or not. Costs are recognized when they occur, regardless of whether the payment has been made or not. The calculation of net profit is done by comparing the value of income and costs in one period.

Discussion

The use of accrual base methods in recognition of income and costs is one of the important principles in financial accounting standards. This method provides a more accurate financial condition of the company, as it recognizes income and costs when they occur, regardless of whether the payment has been received or made. The income statement compiled using the accrual base method will reflect a more accurate financial condition of the company.

The Importance of Application of Financial Accounting Standards

The application of financial accounting standards is very important in presenting financial statements, including income statements. This is because the standard provides a consistent and transparent framework in presenting financial information, so that it can be easily understood by various parties, such as investors, creditors, and regulators. The application of financial accounting standards provides several benefits, including:

Increase the accuracy and credibility of financial information.
Facilitate the comparison of financial performance between companies.
Increase investor and creditors' confidence in the company.
Minimize the risk of fraud and errors in presenting financial information.

Benefits of Implementing Financial Accounting Standards

The application of financial accounting standards provides several benefits, including:

Increase the accuracy and credibility of financial information: Financial accounting standards provide a consistent and transparent framework in presenting financial information, which increases the accuracy and credibility of financial information.
Facilitate the comparison of financial performance between companies: Financial accounting standards provide a common framework for presenting financial information, which facilitates the comparison of financial performance between companies.
Increase investor and creditors' confidence in the company: Financial accounting standards provide a transparent framework in presenting financial information, which increases investor and creditors' confidence in the company.
Minimize the risk of fraud and errors in presenting financial information: Financial accounting standards provide a consistent and transparent framework in presenting financial information, which minimizes the risk of fraud and errors in presenting financial information.

Conclusion

PT (Persero) Angkasa Pura II Polonia Airport Medan has implemented financial accounting standards in presenting the income statement. This shows the company's commitment to transparency and accountability in financial management. The application of consistent financial accounting standards is expected to increase stakeholder confidence in the company and support sustainable business growth.

Recommendations

Based on the findings of this study, the following recommendations are made:

PT (Persero) Angkasa Pura II Polonia Airport Medan should continue to implement financial accounting standards in presenting the income statement.
The company should provide more detailed information about its financial performance, including the breakdown of revenue and costs.
The company should provide more information about its financial position, including the balance sheet and cash flow statement.

Limitations of the Study

This study has several limitations, including:

The study only examined the application of financial accounting standards in presenting the income statement at PT (Persero) Angkasa Pura II Polonia Airport Medan.
The study did not examine the impact of financial accounting standards on the company's financial performance.
The study did not examine the impact of financial accounting standards on the company's stakeholders.

Future Research Directions

Future research should examine the impact of financial accounting standards on the company's financial performance and stakeholders. Additionally, future research should examine the application of financial accounting standards in other companies and industries.

References

[List of references cited in the study]

Appendices

[List of appendices, including additional tables and figures]

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Frequently Asked Questions (FAQs) about the Application of Financial Accounting Standards in the Presentation of the Income Statement of PT (Persero) Angkasa Pura II Polonia Airport Medan

Q: What is the income statement, and why is it important?

A: The income statement is a financial statement that provides a systematic summary of the income and cost of a business unit in one period. It is a crucial tool for stakeholders, including investors, creditors, and regulators, to assess the financial performance and position of a company.

Q: What are financial accounting standards, and why are they important?

A: Financial accounting standards are principles and guidelines that provide a consistent and transparent framework in presenting financial information. They are important because they increase the accuracy and credibility of financial information, facilitate the comparison of financial performance between companies, increase investor and creditors' confidence in the company, and minimize the risk of fraud and errors in presenting financial information.

Q: How does PT (Persero) Angkasa Pura II Polonia Airport Medan apply financial accounting standards in presenting the income statement?

A: PT (Persero) Angkasa Pura II Polonia Airport Medan applies financial accounting standards by recognizing income and costs based on an accrual basis method. This means that income is recognized when services or goods have been given, regardless of whether the payment has been received or not, and costs are recognized when they occur, regardless of whether the payment has been made or not.

Q: What are the benefits of implementing financial accounting standards?

A: The benefits of implementing financial accounting standards include:

Increase the accuracy and credibility of financial information.
Facilitate the comparison of financial performance between companies.
Increase investor and creditors' confidence in the company.
Minimize the risk of fraud and errors in presenting financial information.

Q: How does the application of financial accounting standards impact the company's financial performance?

A: The application of financial accounting standards can impact the company's financial performance by providing a more accurate and transparent picture of the company's financial position and performance. This can increase investor and creditors' confidence in the company and support sustainable business growth.

Q: What are the limitations of this study?

A: The limitations of this study include:

The study only examined the application of financial accounting standards in presenting the income statement at PT (Persero) Angkasa Pura II Polonia Airport Medan.
The study did not examine the impact of financial accounting standards on the company's financial performance.
The study did not examine the impact of financial accounting standards on the company's stakeholders.

Q: What are the future research directions?

A: Future research should examine the impact of financial accounting standards on the company's financial performance and stakeholders. Additionally, future research should examine the application of financial accounting standards in other companies and industries.

Q: What are the implications of this study for stakeholders?

A: The implications of this study for stakeholders include:

Increased confidence in the company's financial performance and position.
Improved transparency and accountability in financial management.
Increased accuracy and credibility of financial information.
Facilitated comparison of financial performance between companies.

Q: What are the recommendations for PT (Persero) Angkasa Pura II Polonia Airport Medan?

A: The recommendations for PT (Persero) Angkasa Pura II Polonia Airport Medan include:

Continuing to implement financial accounting standards in presenting the income statement.
Providing more detailed information about the company's financial performance, including the breakdown of revenue and costs.
Providing more information about the company's financial position, including the balance sheet and cash flow statement.

Q: What are the implications of this study for the accounting profession?

A: The implications of this study for the accounting profession include:

The importance of applying financial accounting standards in presenting financial information.
The need for increased transparency and accountability in financial management.
The importance of providing accurate and credible financial information to stakeholders.

Q: What are the implications of this study for the business community?

A: The implications of this study for the business community include:

The importance of applying financial accounting standards in presenting financial information.
The need for increased transparency and accountability in financial management.
The importance of providing accurate and credible financial information to stakeholders.

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