JURNAL RISET AKUNTANSI DAN AUDITING
Vol.
12 Number 3 (November 2025, 1-.
Implications and Challenges of Implementing PSAK 22 Convergence with IFRS 3 on Goodwill Accounting in Indonesia Implikasi dan Tantangan dalam Implementasi PSAK 22 Konvergensi IFRS 3 pada Akuntansi Goodwill di Indonesia Annisa Syarifah Ramadhani1.
Dian Widiyati2 1 (Politeknik Keuangan Negara STAN.
Tangerang Selatan.
Indonesi.
2 (Universitas Pamulang.
Tangerang Selatan.
Indonesi.
4132240043_annisa@pknstan.
DOI: 10.
55963/jraa.
Abstract - This study aims to identify the implication and challenge of implementing PSAK 22 convergence of IFRS 3 on goodwill accounting in Indonesia.
PSAK 22 which is converged with IFRS 3 regulates business combinations, including the recognition and measurement of goodwill, with a focus on the exception of amortization and the application of impairment tests .
mpairment test.
The research method used is the systematic literature review (SLR) with an analysis of 11 related articles to elaborate on the main issues in the implementation of PSAK 22.
The results of the study indicate that the implementation of PSAK 22 increases the transparency of financial statements and the relevance of information for stakeholders.
On the other hand, there are challenges in implementing PSAK 22 such as the complexity of fair value measurement, high implementation costs, and managerial discretion that can affect reporting reporting.
This study contributes to the literature on the implementation of PSAK 22 in Indonesia by offering insights into the benefits and challenges faced by entities in implementing this standard.
The novelty lies in reviewing PSAK 22 implementation in Indonesia, highlighting implications and challenges in goodwill accounting, and providing insights on IFRS 3 convergence benefits and difficulties within IndonesiaAos accounting environment.
Keywords: Business Combination.
Financial Reporting Transparency.
Goodwill Accounting.
IFRS 3.
Implementation Challenges.
PSAK 22.
Abstrak - Penelitian ini bertujuan untuk mengidentifikasi implikasi dan tantangan penerapan PSAK 22 yang terkonvergensi dengan IFRS 3, khususnya terkait pengakuan dan pengukuran goodwill di Indonesia.
Metode penelitian yang digunakan adalah systematic literature review (SLR) dengan analisis terhadap 11 artikel terkait untuk mengelaborasi isu-isu utama dalam penerapan PSAK 22.
Hasil penelitian menunjukkan bahwa implementasi PSAK 22 meningkatkan transparansi laporan keuangan dan relevansi informasi bagi pemangku kepentingan.
sisi lain, terdapat tantangan dalam implementasi PSAK 22 seperti kompleksitas pengukuran nilai wajar, biaya implementasi yang tinggi, dan diskresi manajerial yang dapat memengaruhi keandalan pelaporan.
Penelitian ini memberikan kontribusi terhadap literatur tentang implementasi PSAK 22 di Indonesia dengan menawarkan wawasan mengenai manfaat dan hambatan yang dihadapi oleh entitas dalam melaksanakan standar ini.
Kebaruan penelitian ini terletak pada kajian implementasi PSAK 22 di Indonesia, yang menyoroti implikasi dan tantangan dalam akuntansi goodwill serta memberikan wawasan tentang manfaat dan kesulitan konvergensi IFRS 3 dalam lingkungan akuntansi Indonesia.
Kata Kunci: Akuntansi Goodwill.
IFRS 3.
Kombinasi Bisnis.
PSAK 22.
Tantangan Implementasi.
Transparansi Pelaporan Keuangan.
INTRODUCTION
According to the agreement of the Indonesian government as a member of the G-20 forum.
Indonesia is committed to converging the International Financing Reporting Standards (IFRS) into its Financial Accounting Standards (SAK) (Bharata et al.
, 2.
As part of this convergence commitment, it is necessary to adjust statement of financial accounting standards (PSAK) 22 to align with IFRS 3.
PSAK
22 has undergone several stages of IFRS 3 adoption over the years, starting from 2008 until its most recent amendment in 2018 (Asiawati et al.
, 2.
The convergence of IFRS 3 has brought changes to the accounting treatment of goodwill, which is an intangible asset that arises in the context of business JURNAL RISET AKUNTANSI DAN AUDITING Vol.
12 Number 3 (November 2025, 1-.
combinations (Masrukhan, 2.
Under PSAK 22, goodwill is recognized as an intangible asset that is not amortized but is subject to periodic impairment testing (SaAodiyah et al.
, 2.
PSAK 22 Convergence with IFRS 3 is believed to enhance the transparency of financial statement, as goodwill is presented more clearly, allowing users of financial reports to gain a better understanding (Afandi et al, 2.
Goodwill is considered to have a positive impact on corporate financial statement by increasing net value or shareholders equity (Bagna et al.
, 2.
When goodwill is recognized in a business acquisition, it reflects that the company has made an investment that generates intangible assets with strategic value, thereby increasing shareholders equity and improving the companyAos image in the eyes of investors.
Furthermore, goodwill impairment allows management to convey private information to the market.
Thus, the information provided by goodwill impairment can be useful for investors and other stakeholders who use financial statements to revise their expectations regarding the companyAos furue earnings and cash flows (Sumarni et al.
, 2.
However, despite the arising benefits, there are various criticisms from practitioners, academics, and standard board members regarding the implementation of PSAK 22, especially related to the impairment process of goodwill (Bagaskara & Yanti, 2.
Since the early 1900s, goodwill has been a source of debate and controversy within the accounting profession Internationally (Lampiris et al.
The discretion afforded to managers may cause goodwill to be undervalued or overvalued.
The goodwill accounting standard provides managers with certain flexibilities to engage in opportunistic behaviors (Just et al.
, 2.
Companies also often face difficulties in accurately determining the fair value of goodwill, thereby affecting financial statements and the quality of the information presented (SaAodiyah et al.
, 2.
Several studies state that professional valuations in goodwill impairment tests tend to reflect the strategic objectives of owners rather than the actual economic value (Frii & Hamberg.
At the same time, financial report preparers argue that goodwill impairment testing is complex and incurs high costs (Amel-zadeh et al.
, 2.
The business competition supervisory commission (KPPU) recorded that the trend of mergers and acquisitions in Indonesia has increased annually from 2018 to 2022.
The rise in merger and acquisition notifications was triggered by several factors, ranging from the impact of the COVID-19 pandemic, market expansion, to the financial services authority (OJK) regulations that push Commercial Banks in Business Group 1 (BUKU .
to meet capital requirements stipulated in OJK regulation No.
12 of 2020.
Certainly, in conducting business combinations, companies need to adjust the accounting treatments as currently regulated in PSAK 22.
With the development of the merger and acquisition trend in Indonesia, the author is interested in elaborating on the implementation of PSAK 22 converging with IFRS 3 on goodwill accounting in Indonesia, especially in the measurement and impairment testing of goodwill that involves a high degree of subjectivity and managerial discretion.
Although several studies have discussed the implementation of PSAK 22 converging with IFRS, most of these studies focus on the analysis of a single company and therefore do not provide a comprehensive overview.
Hence, this study aims to provide a broader depiction through a systematic literature review (SLR) approach.
This research is expected to enrich the literature related to the implementation of PSAK 22 in the context of goodwill accounting in Indonesia and serve as a knowledge resource for companies facing changes in accounting standards during the transition of business combinations.
LITERATURE REVIEW
IFRS Convergence In 2009, the Indonesian Institute of Accountants (IAI) announced that the convergence program of Indonesian financial accounting standards (SAK) to International financial reporting standards (IFRS) would be carried out gradually to reduce the gap in standards among G-20 member countries.
The IFRS convergence process in Indonesia was divided into three phases: the adoption phase .
8 to 2.
, the final preparation phase .
, and the implementation phase .
The term "business combination" in IFRS 3 began to be used after PSAK 22 became effective on January 1, 2011.
Internationally.
IFRS 3, issued in March 2004, replaced IAS 22 and introduced significant changes in the accounting treatment of business combinations.
This standard ended the use of pooling of interest
JURNAL RISET AKUNTANSI DAN AUDITING
Vol.
12 Number 3 (November 2025, 1-.
accounting and established that goodwill is recognized as an intangible asset with an indefinite life and is not subject to amortization.
PSAK 22
PSAK 22 .
defines a business combination as a process in which an entity obtains control over one or more businesses through a transaction or other event.
In a business combination, the acquiring party gains full control over the acquired business entity, consistent with the concept that a business combination involves the merger of two or more companies into one new entity.
According to Farman .
, there are key points in PSAK 22 that need to be understood as follows: .
PSAK 22 provides guidance on the recognition and measurement of assets, liabilities, and equity of entities involved in a business combination, including steps to assess the acquired assets and liabilities and determine the fair value of the combined entity.
PSAK 22 requires disclosure of relevant and adequate information about the business combination, including the identity and impact of the combination on the financial statements of the entities involved, its effects on net income, financial position, and cash flows.
PSAK 22 outlines criteria to determine whether a transaction qualifies as a business combination.
This includes assessing whether the combining entity obtains control over another entity and whether the transaction meets the definition of a business combination under the .
PSAK 22 provides guidance on how to identify the acquisition date in the context of a business combination.
This is important because the acquisition date is used as a reference point to assess the acquired assets and liabilities and to measure the fair value of the combined entity.
PSAK
22 requires entities to apply consistent accounting methods in recognizing and measuring assets, liabilities, and equity related to the business combination.
This ensures consistency in financial reporting and enables stakeholders to understand the impact of the business combination on the performance and financial position of the entities involved.
Business Combination Business combinations are divided into several types, namely.
acquisition, this is a business combination conducted by merging one company with another, where the acquired company is under the control of the acquiring company.
Merger, this is a business combination conducted by merging companies to become a single business entity.
Consolidation, this is a business combination that merges two or more companies to form a new company.
Business combinations can be carried out with various types of integration as follows.
horizontal integration, this is the merger between companies operating in the same market domain.
Vertical Integration, this is a business combination between companies that complement each other with the purpose of collaborating on a product.
Conglomeration, this is a business combination between companies that do not have similar products, thus the companies have many products/services across various business fields.
Objectives and Benefits of Business Combinations According to PSAK 22, companies can design business combinations for various purposes such as legal reasons, tax reasons, or other reasons.
Beyond these purposes, business combination activities can be motivated by more specific goals such as.
cost efficiency, business combinations can save operational costs such as salaries, research, development, and other financial needs.
Time savings, business combinations can save time in business development, including utilizing facilities already available from the other company.
Risk minimization, business combinations can result in broader product and market development, thus reducing risks.
Avoiding takeovers by other companies, business combinations can secure the company from potential takeovers by other companies.
Acquisition of asset rights, business combinations merge ownership of assets from the acquired Goodwill Accounting According to SaAodiyah et al.
, goodwill is generally recognized and classified based on its source and nature.
Several types of goodwill accounting commonly found in practice are as follows.
purchased goodwill, purchased goodwill arises when an entity acquires another entity and the purchase price exceeds the fair value of the identifiable net assets.
This type of goodwill is the most common in business combination accounting practice and is regulated by accounting standards such as IFRS 3
JURNAL RISET AKUNTANSI DAN AUDITING
Vol.
12 Number 3 (November 2025, 1-.
and PSAK 22 (Revised 2.
Purchased goodwill is recognized on the balance sheet as an intangible asset and regularly tested for impairment.
Inherent goodwill, inherent goodwill is goodwill not resulting from a specific acquisition transaction but naturally attached to the company.
This goodwill reflects value from reputation, customer loyalty, and future earning potential.
However, inherent goodwill is not recognized in financial statements because it lacks a reliable measurement basis.
Modern accounting focuses more on purchased goodwill because it can be objectively measured.
Positive and negative Positive goodwill occurs when the acquisition cost of the business combination exceeds the fair value of the identifiable net assets.
Positive goodwill is considered an indication of potential future synergies and the excess value of the acquired company.
Negative goodwill .
argain purchas.
occurs when the acquisition cost is less than the fair value of the identifiable net assets.
Also known as a gain from a bargain purchase, it is recognized as income in the profit and loss statement.
Implied goodwill.
Implied goodwill arises during impairment testing.
When a company conducts impairment testing, the recoverable amount of a cash-generating unit is compared to its carrying value.
If the recoverable amount is higher, implied goodwill may be identified in the measurement process.
However, this type is more related to evaluating impairment of previously recognized goodwill than to initial recognition.
Goodwill Measurement According to IFRS 3 and PSAK 22, goodwill is measured at acquisition using the cost approach, calculated as the difference between the acquisition cost of the business combination and the fair value of the identifiable net assets: .
if the initial measurement results in a positive difference, goodwill is recognized as an intangible asset.
If the initial measurement results in a negative difference, the acquisition is classified as a bargain purchase and is immediately recognized as a gain in the profit and loss statement.
The fair value measurement of assets in a business combination must be conducted at fair value to ensure that the financial statements reflect the maximum value of the acquisition transaction.
Goodwill Reporting and Valuation Goodwill reporting and valuation are strictly governed by IFRS 3: business combinations.
IAS 36:
impairment of assets, and the local standard PSAK 22 .
The reporting of goodwill in financial statements is done under the following conditions: .
goodwill is recorded as an intangible asset on the balance sheet.
Impairment is not recognized if the recoverable amount exceeds the carrying amount.
If the recoverable amount is lower, the difference is recognized as an impairment loss in the profit and loss statement.
Goodwill Impairment Testing The assessment of goodwill is carried out to ensure that its carrying amount does not exceed its recoverable amount.
The recoverable amount is determined as the higher of.
value in use, calculated based on discounted future cash flows using an appropriate discount rate.
This reflects management's expectations of the future performance of the cash-generating unit.
Fair value less costs of disposal, this valuation is based on the estimated sales price of the asset in an open market less the costs associated with the sale.
The goodwill impairment test, which must be performed annually, involves comparing the carrying amount of the cash-generating unit, including goodwill, with its recoverable amount.
If the recoverable amount is lower than the carrying amount, an impairment loss is recognized.
The valuation of goodwill in practice requires the use of managerial assumptions and estimates, such as projections of future cash flows and discount rates.
Goodwill impairment testing is more comprehensively regulated under PSAK 48.
RESEARCH METHOD
This study uses a qualitative descriptive method to explain the implementation of PSAK 22 converging with IFRS 3 on goodwill accounting in Indonesia, particularly in the measurement and impairment testing of goodwill that involves a high degree of subjectivity and managerial discretion.
The approach employed is a systematic literature review (SLR) using the PRISMA technique to identify, select, and analyze articles relevant to the research topic.
The research process was conducted through a literature search on Google Scholar.
Garuda Kemdikbud, and Emerald Insight using several relevant keywords, namely JURNAL RISET AKUNTANSI DAN AUDITING Vol.
12 Number 3 (November 2025, 1-.
AuPSAK 22,Ay AuGoodwillAy.
AuIFRS 3Ay and AuBusiness CombinationAy.
Subsequently, screening was carried out based on five criteria as follows: .
duplicate articles/journals.
articles published within the period 2018 to 2024 in relation to the latest adjustment of PSAK 22 in 2018.
articles matching the criteria based on title and abstract.
articles that have been cited.
articles with public access.
Identification of articles using Google Scholar.
Garuda.
Kemdikbud, dan Emerald Keyword AuGoodwill IFRS 3Ay n = 234 Keyword AuPSAK 22Ay n = 577 Keyword AuBusiness CombinationAy n = 135 Duplicate articles n = 315 Articles screened for the next stage n = 631 Articles published n = 406 Articles screened for the next stage n = 225 Articles that have never been cited n = 143 Articles screened for the next stage n = 82 Articles without public n = 47 Articles screened for the next stage n = 35 Articles that do not match the research objectives based on the abstract and title n = 24 Articles used for the n = 11 Figure 1.
PRISMA Framework Source: Processed by author, .
Based on the final screening as shown in figure 1, the author uses 11 articles in Indonesian and English to identify the implementation of PSAK 22 convergence with IFRS 3 in goodwill accounting in Indonesia, with the following details:
JURNAL RISET AKUNTANSI DAN AUDITING
Vol.
12 Number 3 (November 2025, 1-.
Table 1.
List of Selected Articles for Review Article Title Implementasi PSAK 22 Sebelum dan Sesudah Adopsi IFRS pada Laporan Keuangan PT.
Kalbe Farma.
Tbk.
Implementasi Akuntansi Kombinasi Sebelum dan Sesudah Dengan Mengadopsi PSAK 22 Studi PT.
Ultrajaya Milk Industri and Trading Company.
Tbk Evaluation of Business Combination Accounting: Pre and Post PSAK 22 Implementation in PT.
Indosat Tbk Analisis Akuntansi Bisnis dengan Konvergensi IFRS pada Laporan Keuangan PT.
Garuda Indonesia Persero Tbk Penerapan Akuntansi Kombinasi Bisnis Sebelum dan Sesudah Adopsi IFRS PT.
Bentoel Internasional Investama Tbk Journal Costing: Journal of Economic.
Business, and Accounting Jurnal Manajemen dan Akuntansi Researcher, year Intan Asiawati.
Clarisa Bunga Lestari.
Lia Uzliawati, 2024.
Anastasya Simanjuntak.
Dias Ayuk Nurutami.
Rizkya Sukma Putri.
Endang Kartini Panggiarti.
Jurnal Ilmiah Manajemen Emmaculata Sac Cid Kesatuan Ananda.
Najla Aulia Nur Ramadhianti.
Jentiya Br Sinulingga, 2023.
Populer: Jurnal Penelitian Ranaa Naziira Givasya Mahasiswa Anggoro.
Natasya Alveenia.
Agustine Dwianika, 2023.
Jurnal Akuntan Publik Almira Siva Devina Wijanarko.
Ellisa Noviana Dera.
Wahyu Marginingtyas Endang Kartini Pnaggiarti Journal of Management Samuel Siregar.
Accounting.
Tax, and Shaldan Rizqiano Jouzjani Producion S.
Rifatul Alifah.
Rizky Isder.
Bana Ahmad Gautama, 2024.
Accounting Research Unit Anindiya Salsabila, 2024.
Journal Analisis Penerapan PSAK 22 Tentang Akuntansi Kombinasi Bisnis pada Perusahaan Go Public di Lingkungan Analisis Kinerja Keuangan Sebelum dan Setelah Penerapan PSAK 22 pada PT.
Sejahteraraya Anugrahjaya Tbk Implementasi Akuntansi Kombinasi pada Jurnal Ekonomi.
Dhea Indriati Sihaloho.
Bisnis UMKM Kopi Kenangan (Sebelum Manajemen.
Akuntansi Egia Mintana Sri Rezeki dan Sesudah Adopsi IFRS) Sembiring.
Elvidasari Sijabat.
Gio Qaedy Auzan.
Bana Ahmad Gautama.
Perlakuan Akuntansi Goodwill dalam Musytari Neraca Sa,diyah.
Melinda Indri Penggabungan Usaha: Tinjauan Teoritis Manajemen.
Ekonomi Setyawati.
Masrukhan, dan Implementasi di Indonesia Has Goodwill Become More Relevant Journal of Accounting and Ersa Tri Wahyuni, after IFRS Convergence in Indonesia? Investment Dewantoro.
Ilya Avianti.
Implementasi Akuntansi Kombinasi Jurnal Kendali Akuntansi Amanda Salwa Desfana.
Bisnis dan Analisis Kinerja Keuangan Januari Arafi.
Niken Rizqi Sebelum dan Setelah Penerapan PSAK Amborowati.
Endang 22 pada PT Goto Gojek Tokopedia Tbk Kartini Panggiarti, 2024 Source: Processed by author, .
JURNAL RISET AKUNTANSI DAN AUDITING
Vol.
12 Number 3 (November 2025, 1-.
FINDINGS AND DISCUSSION Findings For the 11 selected articles, the author conducted an analysis of the methods, research results, and research limitations.
The author also identified the impacts and challenges of IFRS 3 implementation as described in each article.
This information is elaborated by the author in the following table:
Table 2.
Summary of Selected Journal Reviews on The Implications of PSAK 22 Convergence with IFRS 3 Implementation Researcher Methods Intan A qualitative Asiawati, approach with Clarisa Bunga Lestari.
Lia technique Uzliawati.
Indonesia Stock Exchange for Kalbe Farma Tbk.
Anastasya A qualitative Simanjunta approach Dias using content Ayuk Nurutami.
Rizkya based on data Sukma Putri.
Indonesia Endang Stock Kartini Exchange Panggiarti, (IDX) for the period 2009Ae 2019 on PT Ultrajaya Milk Industry and Trading Company Tbk.
Emmaculat Descriptive a Sac Cid quantitative Ananda, method using Najla Aulia PT Indosat Nur Tbk financial Ramadhian statements ti.
Jentiya (IDX, 2009Ae Sinulingga.
Research Findings The company changes in the recognition and and business from 2009 to The company the pooling of interest method during 2009Ae The show that after of PSAK 22, the changed from method to the However, the companyAos did not improve with profitability ratios remaining Implications of IFRS 3 Convergence on Goodwill Accounting Changes recognition of negative goodwill, where the amortization of negative discontinued and an annual impairment test Challenges of IFRS 3 Convergence Research Limitations The classification of intangible asset in the consolidated financial Focused case study A restructuring occurred in the presentation of non-controlling interest Starting in 2011, these accounts were presented as components of equity in balance sheet.
In 2016, when one of the liquidated, the company did not record any goodwill value related to A Technical challenges due to accounting method Challenges ensuring that the fair value applied complies with the provisions of PSAK Focused case study The company adopted the acquisition method, which requires goodwill to be measured through In the PSAK 22 discontinued the amortization of goodwill and recognized acquisition costs as expenses in the period incurred rather than as part of the business The companyAos profitability ratios did not improve after the implementation of PSAK 22 and remained below the industry standard.
The consolidation requiring a deeper accounting aspects and comprehensive The financial burdens or negatively affected companyAos ROE.
Therefore, a re-evaluation of the recording method is needed to ensure fairness in reflecting companyAos Focused case study A A JURNAL RISET AKUNTANSI DAN AUDITING Vol.
12 Number 3 (November 2025, 1-.
Researcher Ranaa Naziira Givasya Anggoro.
Natasya Alveenia.
Agustine Dwianika.
Almira Siva Devina Wijanarko.
Ellisa Noviana Dera.
Wahyu Marginingtya Endang Kartini Pnaggiarti Methods The content analysis Data from the annual statements of PT Garuda Indonesia for the periods 2010, 2011, 2015, and 2018, during which each period applied different PSAK according to the latest revisions.
method with a content analysis The data sources, such as statements of PT Bentoel Internasional Investama Tbk before and after implementation of IFRS.
Samuel
P Analyzing Siregar, implementation of Shaldan
PSAK
Rizqiano Jouzjani S, combination Rifatul Alifah, accounting Rizky Isder, publicly Bana Ahmad companies Gautama.
Indonesia, with a focus on the level challenges, and the quality of Anindiya Conducted Salsabila, secondary data from the financial statements of PT Sejahteraraya Anugrahjaya Tbk, analyzed through NPM.
CR.
DER, and TATO ratios SPSS Windows.
Research Findings Implications of IFRS 3 Convergence on Goodwill Accounting Garuda IFRS 3 changed the Indonesia method of recording acquisitions, such as complied with PSAK discontinuing goodwill 22, which has been amortization with recognizing acquisition IFRS.
The costs directly.
The adjustments made company more transparent in reporting step business A Discontinuati of combinations consistently complied with the continuously since 2011, revised PSAK 22.
replace with A Adjustment of financial .
and ent of the fair value of step s .
The application of The PSAK 22 in line with transparency related to IFRS strengthened business combinations transparency and .
ncluding fair value for assets and liabilities, allocation, and the recognition of minority non-controlling positive impact by helping the company reduce the likelihood of earnings management practices and enhance stakeholder trust.
Large companies Disclosures regarding and those audited goodwill should be by major accounting detailed, and financial firms demonstrated statements need to higher levels of present information on Although there was acquired assets, and an improvement in assumed liabilities.
particularly related to the recognition of Performance fluctuations were acquisition of PT Bogor Medical Center by PT Sejahteraraya Anugrahjaya Tbk.
Improvement average remained Decline in current Increase in solvency greater financial risk Improved utilization efficiency Challenges of IFRS 3 Convergence Research Limitations Administrative process demand greater resource allocation and The study was conducted on company, with the research period limited to four years .
0, 2011.
A The disclosure of minority and noncontrolling interests still requires further The implementation of PSAK 22 and IFRS additional costs and Focus only on The main challenges in implementing IFRS 3 include the complexity of measuring the fair value of acquired assets and liabilities, as well as the practitioners regarding this standard.
In addition, variations in compliance levels among companies significant issue.
The limitations of this study focus on a single type of entity .
ublicly which may not reflect overall SME among private A A A The companyAos financial performance significant fluctuations after the acquisition, solvency aspects.
The implementation of PSAK 22 converged with IFRS required a more complex process of identifying the fair value of assets and The study was limited to a single and lacked from books JURNAL RISET AKUNTANSI DAN AUDITING Vol.
12 Number 3 (November 2025, 1-.
Researcher Methods Dhea Indriati A Sihaloho.
Egia Mintana content analysis Sri Rezeki was Sembiring.
Secondary data Elvidasari Sijabat.
Gio from excerpts of Qaedy print and online Auzan.
Bana media.
Ahmad Gautama.
Sa,diyah.
A journal and Melinda Indri case study using Setyawati.
Masrukhan, approach.
Data through in-depth practitioners and an analysis of the Ersa Tri The method used Wahyuni, was panel data Dewantoro, regression Ilya Avianti, random and fixed effects Amanda Salwa Desfana.
Januari Arafi.
Niken Rizqi Amborowati.
Endang Kartini Panggiarti, method with a Research Findings The implementation of IFRS and PSAK Kopi Kenangan companyAos competitiveness by transparency and integrity of financial limiting the potential Although PSAK 22 has been adopted, its implementation still faces various This need to enhance A Goodwill had a significant and positive effect on firm value IFRS A Goodwill impact in the year of IFRS .
and the following year.
A Investors impairment in the early year
IFRS
Business combinations had a significant impact, particularly after the implementation of PSAK The company needs to develop strategies to improve financial confidence in the Implications of IFRS 3 Convergence on Goodwill Accounting The application of IFRS 3 and PSAK 22 improved the quality of financial opportunities for earnings increased transparency.
This also contributed to companyAos positively affecting the Challenges of IFRS 3 Convergence Research Limitations There remains a need to ensure compliance with This study focused on entity (Kopi Kenanga.
and relied data, which may have limitations in The standard improves financial reporting and reduces the manipulation of goodwill values, which is expected to enhance the quality of information However, difficulties in determining the fair value of goodwill, differences in valuation between auditors and management, and the limited availability of trained human resources to handle accounting reporting in accordance with the standards.
The study focused on which may across the The implementation of IFRS 3 increased the relevance of goodwill value in the Indonesian capital market.
Goodwill provide more useful information compared to the previous amortization A Managerial Validation Low frequency The period was covering the GoTo Gojek Tokopedia Tbk applied the acquisition method to The noncontrolling interest in the recognized in proportion to the non-controlling interestAos share of the acquireeAos net assets.
There was an increase in long-term liabilities due to the identifiable assets business combination, as well as an improvement in profit margin in 2022.
Strategies are needed to performance and sustain investor confidence due to the decline in ROA and ROE.
The study focused on specific time Source: Processed by author .
JURNAL RISET AKUNTANSI DAN AUDITING
Vol.
12 Number 3 (November 2025, 1-.
Discussion What are the Implications of PSAK 22 Convergence with IFRS 3 on Goodwill Accounting in Indonesia? The implementation of PSAK 22 convergence with IFRS 3 generally has implications for various aspects of goodwill accounting practices in Indonesia, including changes in recording methods, increased transparency in reporting, and the impact on corporate financial performance.
From an accounting treatment perspective, companies have shifted to the acquisition method, which requires goodwill to be measured through annual impairment testing without amortization, as well as the discontinuation of goodwill amortization and the recognition of negative goodwill (Ananda et al.
, 2.
This is consistent with the practices applied by PT.
GoTo Gojek Tokopedia Tbk and PT Indosat Tbk, as shown in table 2.
Companies have adapted to the changes in PSAK 22 resulting from IFRS convergence, such as replacing the purchase method with the acquisition method for recording business combinations, discontinuing goodwill amortization and the recognition of negative goodwill, clarifying the scope of the standard, and recognizing contingent consideration obligations that meet the definition of financial instruments as either financial liabilities or equity.
Furthermore, the standard requires the remeasurement of the fair value of business combinations (Naziira et al.
, 2.
These changes were also accompanied by a restructuring of non-controlling interest accounts, where since 2011, such accounts have been presented as components of equity in the consolidated financial statements, as seen in the case of PT.
Ultrajaya Milk Industry & Trading Company Tbk.
According to Sihaloho et al.
PSAK 22 provides more appropriate and comprehensive The strict recognition and measurement criteria are among the key details of PSAK 22 implementation that may influence earnings management strategies.
As found in Destiana et al.
PT.
GoTo Gojek Tokopedia Tbk employs non-PSAK financial measurements as a supplement to its consolidated financial statements.
This approach is intended to provide additional information for investors through EBITDA adjustments, allowing better comparison between past and current Overall.
PSAK 22 enhances transparency, reduces the possibility of partial disclosure, and strengthens the obligation to disclose information on business combinations.
From the perspective of transparency and financial reporting quality.
PSAK 22 encourages companies to present more open and measurable information regarding business combinations, including the fair value of acquired assets and liabilities, purchase price allocation, and the recognition of minority and non-controlling interests.
This increase in transparency helps reduce opportunities for earnings management practices and strengthens stakeholder confidence (Asiawati et al.
, 2.
On one hand, properly recognized goodwill can enhance the relevance and transparency of financial statements and provide a more comprehensive picture of a companyAos economic value.
On the other hand, the complexity of measurement and impairment testing may reduce the reliability and comparability of financial statements if not managed properly (SaAodiyah et al.
, 2.
From a financial performance perspective, the implementation of PSAK 22 shows mixed results.
Some companies experienced improvements in profitability, although the average remained negative, accompanied by a decline in current ratio and an increase in solvency, indicating higher financial risk (Budiman et al.
, 2.
For example.
Wahyuni et al.
found that goodwill value had a positive effect on firm value among companies listed on the Kompas100 Index during 2009Ae2015.
However, they also noted that although goodwill impairment losses occurred after IFRS convergence .
1Ae 2.
, such losses did not have a significant effect on market value.
Similarly.
Ananda et al.
found that the implementation of PSAK 22 had no significant impact on financial performance at PT.
Indosat Tbk, as the ROA and ROE ratios remained below industry standards.
Furthermore.
Anindya .
, who examined the business combination of PT.
Sejahteraraya, concluded that the implementation of PSAK 22 caused fluctuations in financial performance after the acquisition process.
This was reflected in changes in the average net profit margin (NPM) before and after the merger, a decline in current ratio, an increase in the average Debt to Equity Ratio (DER), and an improvement in total asset turnover.
Overall, the implementation of PSAK 22 convergence with IFRS 3 has had a positive impact on improving the transparency, relevance, and integrity of financial reporting.
However, the findings also JURNAL RISET AKUNTANSI DAN AUDITING Vol.
12 Number 3 (November 2025, 1-.
indicate that the change in standards has not fully translated into better financial performance.
The success of PSAK 22 implementation largely depends on the quality of impairment testing for goodwill, the accuracy of fair value measurement, and the ability of management to consistently apply accounting What Challenges are Faced in Implementing the Convergence of IFRS 3 in Goodwill Accounting in Indonesia? One of the major challenges in implementing PSAK 22 is the complexity of measuring the fair value of acquired assets and liabilities, as fair value measurement requires sophisticated methods and specialized expertise.
The implementation of PSAK 22 may cause companies to face difficulties in determining accurate market values.
As stated in the study by Siregar et al.
, many accounting practitioners admitted that they lack an in-depth understanding of PSAK 22 requirements, particularly regarding goodwill measurement and purchase price allocation.
In addition to technical challenges, the implementation of PSAK 22 also creates administrative burdens and additional resource requirements.
Companies must allocate time, costs, and professional expertise to ensure compliance with PSAK 22 and IFRS (Wijanarko et al.
, 2.
The impairment testing of goodwill is one of the most demanding aspects, as it requires detailed and consistent annual evaluations, often resulting in additional administrative workload (Naziira et al.
, 2.
Challenges also arise in reporting and disclosure practices.
Several studies found that disclosures related to minority and non-controlling interests are still not performed consistently by companies.
For instance.
PT.
Bentoel Internasional Investama Tbk has not consistently disclosed minority and noncontrolling interests (Wijanarko, 2.
, while Kopi Kenangan also failed to consistently disclose noncontrolling ownership between 2022 and 2023 (Sihaloho, 2.
Furthermore, goodwill classified as an intangible asset is often considered less ideal, as it may cause confusion in interpreting financial statements (Asiawati et al.
, 2.
From the financial performance perspective, several companies recorded a decline in profitability ratios after implementing PSAK 22.
For example.
PT.
Indosat Tbk experienced a drop in profitability between 2009 and 2012.
A similar result was observed in PT.
GoTo Gojek Tokopedia Tbk, where ROA and ROE decreased following the adoption of PSAK 22.
These declines triggered reduced investor confidence, prompting management to develop strategies to improve financial performance and regain investor trust (Desfana et al.
, 2.
Furthermore.
Wahyuni et al.
found that although goodwill amortization did not have a significant impact, goodwill impairment testing after IFRS convergence had a significant effect on stock prices.
Managers therefore need to develop appropriate strategies for handling goodwill impairment testing.
The implementation of PSAK 22 is not only a challenge for companies applying the standard but also for regulators, particularly the Financial Services Authority (OJK), which must ensure that companies engaging in business combinations comply with PSAK 22.
This supervision is necessary to prevent goodwill manipulation and to maintain the integrity of financial reporting (Farman, 2.
CONCLUSION
The accounting treatment of goodwill under PSAK 22 aims to promote transparency in financial reporting and provide an accurate representation of the companyAos intangible asset value.
Effective implementation of the impairment test helps prevent overstatement, where goodwill is recorded at a value higher than its actual economic worth.
On the other hand, achieving the objectives of PSAK 22 convergence presents significant challenges, particularly for companies that may have limited resources to conduct impairment testing consistently.
Inadequate testing of goodwill can create distortions in financial statements and, in the long term, damage the companyAos reputation.
Companies that properly adhere to PSAK standards demonstrate a commitment to transparency and internationally recognized reporting quality, which in turn strengthens stakeholder trust.
The responsibility of companies in the accounting treatment of goodwill extends beyond mere compliance with accounting standards it plays a crucial role in producing financial statements that reflect true economic value.
Consistent and transparent impairment testing can provide more accurate information for stakeholders, thereby enhancing the quality of financial reports, supporting investor confidence, and maintaining the companyAos reputation in the long run.
Future research is suggested to include international comparative JURNAL RISET AKUNTANSI DAN AUDITING Vol.
12 Number 3 (November 2025, 1-.
studies to identify similarities and differences in the challenges faced.
Additionally, in-depth interviews with accounting practitioners could provide a more comprehensive understanding of the difficulties in implementing PSAK 22, particularly regarding the complexity of fair value measurement and the application of goodwill impairment testing.
REFERENCES