THE IMPACT OF THE IMPLEMENTATION OF FINANCIAL ACCOUNTING STANDARD STATEMENT 73 ON PROFITABILITY AND SOLVENCY RATIOS: A CASE STUDY OF PT WIJAYA KARYA (PERSERO) TBK

Abstract

This study aims to analyze the impact of PSAK 73 implementation on company profitability and solvency ratios, using PT Wijaya Karya (Persero) Tbk as a case study. PSAK 73 is an accounting standard that regulates the accounting treatment of lease transactions, both from the Lessee and Lessor side. PSAK 73, effective as of January 1, 2020, requires lessees to recognize right-of-use assets and lease liabilities, replacing the previous PSAK 30 standard. The research uses a quantitative method with difference testing on secondary data from the company's financial statements from 2015 to 2024. The results indicate that the implementation of PSAK 73 significantly affects a decrease in profitability ratios such as Return on Equity (ROE) and Return on Assets (ROA), and an increase in solvency ratios such as Debt to Equity Ratio (DER) and Debt to Asset Ratio (DAR). MANOVA statistical tests show that although the PSAK 73 dummy variable approaches significance, only some ratios are statistically significant. Overall, the implementation of PSAK 73 brings substantial changes to the company's financial statement structure and is an important factor in assessing financial performance post-standard adoption.