Laba Rugi Selisih Kurs dan Manajemen Laba

This study aims to examine whether the management did earnings management through
the foreign exchange gain or loss (FOREX) when the company was under pressure long-term debt
(LTD) and operating profit conditions (Opr). Research conducted on 42 public company for the years
2012 and 2013. The results prove a link between the LTD condition and Opr with FOREX. Results of
statistical descriptive and regression analyzes showed that the phenomenon of the sample companies
do FOREX decline in response to the increase in the LTD and Opr. This phenomenon is contrary to
the predictions of the bonus plan hypothesis, debt covenants hypothesis and theory Shareholder. In
accounting practice, this phenomenon is the impact of the depreciation of the rupiah against foreign
currencies which occurred in 2012 and 2013. The depreciation of the rupiah requires companies to
report FOREX smaller compared with the previous years. Theoretically, this phenomenon can be
explained by Prospect Theory. Depreciation in 2012 and 2013 allow managers are in a loss position,
so that they will behave seek more risk with earnings management through FOREX with a lower
foreign exchange gain or increase in foreign exchange losses, although the LTD and Opr companies
increased, as predicted by Prospect Theory.