Determinan manajemen laba: Arus kas operasi, profitabilitas, dan umur perusahaan pada perusahaan makanan dan minuman di Bursa Efek Indonesia

Earnings management reduces the reliability of earnings information, yet evidence on its determinants remains inconsistent across settings and periods. Drawing on signaling theory and the bonus plan hypothesis, this study examines the effects of operating cash flow, profitability, and firm age on earnings management in food and beverage companies listed on the Indonesia Stock Exchange during 2022–2024. A quantitative associative design was applied to 58 firms selected through purposive sampling, yielding 174 firm-year observations, of which 149 remained after outlier screening. Earnings management was measured by signed discretionary accruals from the Modified Jones Model, and the data were analyzed with multiple linear regression after classical assumption testing. Operating cash flow is negatively and significantly associated with discretionary accruals, profitability is positively and significantly associated with them, and firm age is not significantly associated. Firms with stronger operating cash flow report accruals that raise income less, whereas more profitable firms report accruals that raise income more or lower it less. Because average discretionary accruals are negative, the results indicate the direction, not the magnitude, of accrual management. Investors and regulators should assess profit levels together with cash flow quality.