Strategic Nondisclosure in Takeovers

We examine takeover auctions when an informed bidder has better information about the target value than a rival and target shareholders. The informed bidder’s information is either hard or soft, and only hard information can be credibly disclosed. We show that withholding information creates a winner’s curse, thereby serving as a preemption device that deters the rival’s participation. In turn, an endogenous dis- closure cost arises that induces the informed bidder to optimally withhold favorable information to minimize the acquisition price—breaking down the standard unraveling result, even if his information is always hard. Perhaps surprisingly, stronger competition from the uninformed bidder can reduce the target shareholders’ payoff and increase the payoff of the informed bidder while unambiguously improving social welfare. Moreover, “hardened” information can reduce the gains to trade, decreasing welfare but increasing shareholders’ payoff. Our results provide a cautionary note to promoting more competition and more disclosure.

Akuntansi Aset Biologis Perkebunan Kopi pada UKM Banjarnegara

The purpose of this study is to explore existing conditions in Small and Medium Enterprises (SMEs) Coffee Plantation in Banjarnegara District with a phenomenological approach. The results showed that the Small and Medium Enterprises of Coffee Plantation in Banjarnegara, some did not make financial reports, only made simple notes and relied on their memory. But there are those who make financial reports but do not comply with Financial Accounting Standards, especially PSAK 69. In terms of recognition; not yet using the term 'biological assets', in terms of measurement it still uses the acquisition price and does not calculate profits and losses. Coffee Plantation SMEs in Banjarnegara have not measured their biological assets at fair value as requested by PSAK 69. Tujuan penelitian ini adalah untuk mengeksplorasi existing condition pada Usaha Kecil dan Menengah (UKM) Perkebunan Kopi di Kabupaten Banjarnegara dengan pendekatan fenomenologi. Hasil penelitian menunjukkan pelaku Usaha Kecil dan Menengah Perkebunan Kopi di Banjarnegara, ada yang tidak membuat laporan keuangan, hanya membuat catatan sederhana dan mengandalkan daya ingatannya. Tetapi ada yang membuat laporan keuangan tetapi tidak sesuai dengan Standar Akuntansi Keuangan terutama PSAK 69. Dari segi pengakuan; belum menggunakan istilah ‘aset biologis’, dari segi pengukuran masih menggunakan harga perolehan dan tidak melakukan perhitungan keuntungan dan kerugian. UKM Perkebunan Kopi di Banjarnegara belum mengukur aset biologisnya pada nilai wajar sesuai yang diminta oleh PSAK 69.

Entrepreneurial exit by acquisition: the impact of heterogeneity in products and technology portfolio and marketing capabilities

Purpose This paper aims to study the effect of two important marketing decisions on the extent of value capturing by the firm owners. First, it addresses the debate whether acquirers of young technology-based firms value targets that span multiple technology and market categories indicating multiples options for growth or prefer more narrowly defined targets with a clear product and market focus. Second, it investigates to what extent the use of alliances for marketing purposes contributes to value capturing and how they moderate the effect of diversification of technology and marketing. Design/methodology/approach To estimate the acquisition price, a linear regression model is used, including a Heckman correction controlling for the likelihood of being acquired. The hypotheses are tested in a sample of British venture capital backed firms. Findings Firms that convey focus in their marketing activities (either because they focus on a few market categories or because they rely on downstream alliance to market their inventions) receive higher valuations at acquisition than those that diversify. Further, also the size of the product portfolio is negatively correlated to the acquisition price. Finally, the results reveal that firms with a broad patent portfolio can reduce the negative effects on firm value by engaging in less downstream alliances. Originality/value This paper advances existing research on exit strategies for entrepreneurial firms by considering factors explaining acquisition prices, instead of acquisition probabilities. Further, it adds the categorization research by demonstrating how acquirers respond to complex combinations of technology and market categories.

Analisis Perlakuan Akuntansi Atas Perolehan Dan Penyusutan Aset Tetap Dan Pengaruhnya Terhadap Laporan Keuangan

In the treatment of its fixed assets, PT Bahagia Jaya Sejahtera still has a mismatch. The discrepancy is in the recording of the acquisition price of the fixed assets, the company still records the fixed assets based on the purchase price only, while the costs associated with the fixed assets are charged as costs in the period of occurrence, which are charged as administrative and general costs. In addition to those expenses intended to condition the fixed assets so that they are always ready to be used, recorded as administrative and general expenses in the current period, for example in the purchase of fixed assets in the form of machines, PT Bahagia Jaya does not add these costs to the acquisition price of fixed assets. And when calculating depreciation of fixed assets, companies tend to use the straight-line method, whereas there are other methods that can be used to support the company's earnings. From the results of this analysis, it will be known the comparison of the acquisition price of fixed assets and cost allocation as well as the amount of depreciation costs between the company and the SAK regulations. The results of this analysis are presented in the form of comparative financial statements to determine the effect on financial statements. In the income statement, administrative and general costs are recorded to be too high, due to costs that should add to the acquisition value of fixed assets but instead are allocated to administrative and general costs.Thus, to present financial statements especially in Asset accounting treatment, it should be understood and implemented a fixed accounting policy in accordance with financial accounting standards. Keywords: Fixed assets, depreciation, financial statements

Tinjauan Perlakuan Aset Tetap Sesuai SAK ETAP No. 15

Companies which value and number of fixed assets are sufficiently material, errors in determining and classifying acquisition prices, expenditures during the use and termination of fixed assets will affect the overall financial statements. Therefore, the accuracy in recording fixed assets greatly influences the reliability of the presentation in financial statements. This study aims to determine how the recognition and measurement of fixed assets applied in PT Suryakabel Cemerlang, as well as the presentation of fixed assets in financial statements at PT Suryakabel Cemerlang. Data collection is done through observation, interviews and documents to the parties concerned. This research is descriptive qualitative. The results showed that the accounting treatment of fixed assets at PT. Suryakabel Cemerlang has not fully complied with SAK ETAP No. 15. But the recognition and measurement of fixed assets is in accordance with SAK ETAP No. 15, but no record of the termination of fixed assets has yet been made. This causes the acquisition price and accumulated depreciation of fixed assets presented in the balance sheet to be greater. Based on the results of the study it can be concluded that the accounting treatment of fixed assets must be based on SAK ETAP No. 15 in order to present accurate financial reports so that they can be used as one of the basis for future decision making. Keywords : treatment of fixed assets, SAK ETAP No. 15

High performance computing architectures analysis for gene networks inference

Modeling and inference of biological systems are an important field in computer science, presenting strong interdisciplinary aspects. In this context, the inference of gene regulatory networks and the analysis of their dynamics generated by their transition functions are important issues that demand substantial computational power. Because the algorithms that return the optimal solution have an exponential time cost, such algorithms only work for gene networks with only dozens of genes. However realistic gene networks present hundreds to thousands of genes, with some genes being hubs, i.e., their number of predictor genes are usually much higher than average. Therefore there is a need to develop ways to speed up the gene networks inference. This paper presents a benchmark involving GPUs and FPGAs to infer gene networks, analysing processing time, hardware cost acquisition, energy consumption and programming complexity. Overall Titan XP GPU achieved the best performance, but with a large cost regarding acquisition price when compared to R9 Nano GPU and DE1-SOC FPGA. In its turn, R9 Nano GPU presented the best cost-benefit regarding performance, acquisition price, energy consumption, and programming complexity, although DE1-SOC FPGA presented much smaller energy consumption.

ANALISIS PERLAKUAN AKUNTANSI ASET BIOLOGIS TINJAUAN TEORITIS ADOPSI IAS 41

This study animed to determine how the treatment of biological assets in PTPN IV and the comparison of the tretment of biological assets based on the standars applied by PTPN IV with IAS 41. The objects in this study were the treatment of biological assets in PTPN IV. The research method used was descriptive qualitative research. The reseults of this study indicated that the recongnition, presentation, and disclosure for biological assets at PTPN IV was in accordance with IAS 41, but for measuring biological assets using the acquisition price while IAS 41 measures biological assets using fair value.

Perlakuan Akuntansi Aset Tetap Pada Perusahaan Daerah Air Minum Kabupaten Kudus

<p>The goals of final report are to calculate and recognize fixed assets, <br />record fixed assets and present, disclose the fixed assets of Kudus Disctrict <br />water company. The method of writing used in this final report is description <br />method and exposition methode. The description method is used to describe the <br />general description of Kudus Disctrict water company and the exposition is <br />used to explain the treatment of fixed assets at Kudus Disctrict water<br />company. The result of this Final report is Fixed assets are recognized when <br />the asset is ready for use at acquisition cost. Calculation of the acquisition price <br />of fixed assets until December 31, 2016 amounting to Rp 126,734,497,850, the <br />accumulated fixed assets up to December 31, 2016 amounting to Rp <br />49,116,678,669, and depreciation expense up to December 31, 2016, the <br />recording of fixed assets In journal, ledger and subsidiaries ledger, and the <br />presentation and disclosure of property and equipment to the Financial <br />Statements</p>