Title:
BIOLOGICAL ASSET: EVIDENCE FROM INDONESIA STOCK EXCHANGE

Authors:
Fatchur Rochman, Syarifah Ratih Kartika Sari and Herry Purnomo

Abstract:
This study seeks to ascertain the impact of PSAK 69 Agriculture on the financial statements of agribusiness sector firms during the 2023 timeframe. PSAK 69 is applicable for financial years beginning on or after January 1, 2018. This study sample comprises 12 agriculture firms listed on the Indonesia Stock Exchange in 2023, selected using purposive selection. This study uses descriptive comparative analysis to juxtapose the provisions of PSAK 69 with their implementation in financial statements. The findings of this research reveal that all firms have satisfied the recognized criteria and shown uniformity in the assessment of biological assets at fair value minus expenses to sell. Nonetheless, there exists variability in the degree of transparency, especially about risk management measures and the quantitative characterization of biological assets. The extent of disclosure implementation varies between 73.3% and 86.7%, with firms exhibiting greater implementation ratings demonstrating enhanced disclosure openness.

Keywords:
PSAK 69, Biological Assets, Agriculture, Fair Value.

DOI:
https://doi.org/10.37500/IJESSR.2025.8103

Date of Publication: 11-01-2025