Impact of the COVID-19 pandemic on the financial statements of Brazilian public companies

To find out the company's financial condition in one period, it is reviewed through the financial statements issued by the company. The information for interested parties such as creditors, investors, government and users of financial statements is the responsibility of company management. Components in the presentation of its financial statements that already exist in PSAK No. 1 with issuance from the Indonesian Accounting Association, these components include the company's statement of financial position, the income statement, the report on changes in the company's equity, the report on its cash flows and the notes to the financial statements. 1 As for one of the methods in compiling a financial report issued by companies, namely the preparation of financial reports using the principle of accounting conservatism. Accounting conservatism includes actions taken to present the company's financial statements using the precautionary principle in which the company slows down recognizing profits and assets and accelerates recognizing losses and debts. The consequence of using this principle can result in lower profit and income values while costs tend to be relatively high. 2 The benefits of using conservatism can minimize risks to managers who have excessive optimism. However, excessive use of the principle of conservatism can cause differences in profits and losses by not reflecting the actual state of the company3 Judging from the above phenomenon, profitability can be a consideration in the application of accounting conservatism in companies listed on the Jakarta Islamic Index The purpose of this research is to find out how profitability affects the application of accounting conservatism in companies listed on the Jakarta Islamic Index. The number of samples in the research in this study amounted to 42 samples using a quantitative approach. The technique used in taking the sample uses non-probability sampling techniques, namely techniques in taking samples from the population where members of the population do not have the same opportunity to be used as samples. In this non-probability sampling technique, the researcher uses a purposive sampling technique, namely the sampling technique is based on certain criteria or requirements set by the researcher. The data obtained is processed using Eviews and the research data is panel data. The results of this study indicate that the value of tcount = 2.741973 > table = 1.68957 with probability = 0.0096 <α = 0.05. Based on this comparison it can be stated that Profitability has a significant positive influence on the application of accounting conservatism so that if the Profitability variable increases, the accounting conservatism variable will also increase

The object of the study is the ownership structure of large companies in food service and hotel businesses in Russia. The subject of the study is the financial statements of these companies. The purpose of the study is to investigate large companies in the fields of food service and hotel businesses, and to determine how their structures affect the preparation of financial reports. To achieve this goal, we solved the following tasks: we analyzed the individual financial statements as the main report for a commercial organization. The sufficiency of financial statements to disclose financial position and results have been verified. The consolidated financial statements and their limitations for the formation of aggregate indicators for a group of companies have been considered. The article examines the features of combined financial reporting as a new type of financial reporting and its opportunities at the present time. The author analyzed the ownership structures of large organizations in the fields of food service and hotel businesses. The author assessed the extent to which current approaches to the preparation of financial indicators reveal information about financial situations and results. The empirical basis of the study is information disclosed by large companies on the unified state registry of legal entities and voluntary disclosures made in appendices to their financial statements. The study reveals that existing approaches do not fully facilitate the disclosure of aggregated indicators for a group of companies. As a recommendation, we propose a new type of financial accounting and reporting — additive. The additive financial accounting system focuses on the formation of individual financial statements, consolidated financial statements, and combined financial reports, regardless of the number of companies in the group or ownership structure.

General Background: Financial reporting is critical for the success of Micro, Small, and Medium Enterprises (MSMEs), particularly in the Society 5.0 era, where digital literacy and technological adoption are essential for competitiveness. Specific Background: MSMEs must align their financial practices with reliable standards like the Micro, Small, and Medium Entity Financial Accounting Standards (SAK EMKM) to enhance transparency and efficiency in financial information management. Knowledge Gap: Despite the significance of financial reporting, many MSMEs, including UD. Modern Truss, a construction services and building materials business, have not yet adopted SAK EMKM in their financial practices, leading to simplistic and incomplete reporting. Aims: This research aims to provide MSME owners with information on how to prepare financial reports according to SAK EMKM, in line with the evolving Society 5.0 era's emphasis on technology and transparency. Results: The findings reveal that UD. Modern Truss has not yet implemented financial reporting in accordance with SAK EMKM, relying only on basic records of sales and purchases. The study also presents financial reports for the company, including a financial position report, profit and loss statement, and statement of changes in capital for the period January to December 2022. Novelty: This research offers practical insights into the challenges faced by MSMEs in adopting SAK EMKM standards, providing a framework for improved financial reporting. Implications: The results underscore the need for MSMEs to adopt proper financial reporting standards, enhancing financial transparency and supporting future research on the digital transformation of MSME financial practices. Highlights: UD. Modern Truss has not yet implemented SAK EMKM standards in its financial reporting. The study provides financial reports for January to December 2022, including profit and loss and capital changes. Adopting SAK EMKM is crucial for MSMEs to achieve transparency and improve financial management. Keywords - Financial Reporting, MSMEs, SAK EMKM, Society 5.0, Transparency

This Thematic Real Work Lecture aims to improve the financial performance of BUMDes through the preparation of financial reports with Pivotables. This activity was carried out at BUMDes Bahtera located on Jalan Sudiro, Mertoyudan, Magelang. Problems that arise include limited human resources, the preparation of BUMDes financial reports is still done manually, the cost of goods sold calculation system is not in accordance with SAK, the business subunits owned by BUMDes are still limited. In order to overcome these problems, the Thematic KKN team conducted socialization, training, and assistance in making financial reports using pivotables to BUMDes management, especially treasurers and sales staff. The results achieved in this Thematic KKN activity are the increased knowledge and skills of BUMDes Bahtera management regarding the preparation of pivotable-based financial reports. From the results of these activities, it is expected that the preparation of pivotable financial reports will be carried out consistently so that it will improve the quality of financial reports.

The study aims to determine the application of SAK EMKM in the preparation of financial reports UD. Sari Rama Bakery. Methods of data collection in this study using interviews, observation and documentation. The analytical method used in this research is descriptive analysis method. The results of this study indicate that UD. Sari Rama Bakery has not recorded its business financial statements in accordance with SAK EMKM because the recording of financial reports is not in accordance with SAK EMKM guidelines but only records incoming and outgoing cash. This is because UD. Sari Rama Bakery does not meet the elements of preparing financial statements according to SAK EMKM including statements of financial position, profit and loss statements, and Notes to Financial Statements. This shows that UD. Sari Rama Bakery has not been able to measure the level of the company's financial performance and has not been able to determine business development. This study contributes for SMEs to describe in more detailed and in-depth, considering that this research focuses on quality and the results of the research can describe the reality view of other SMEs on what has been experienced at the research site. The results of this research provide insight into the reality of implementing SAK EMKM and show that the importance of knowledge for MSME actors to prepare financial reports in accordance with SAK EMKM. The limitation of this research is that UD. Sari Rama Bakery does not keep financial records in accordance with SAK EMKM, but only records incoming and outgoing cash.

The preparation of financial reports follows the development of Information and Communication Technology (ICT) in today's digital era. The availability of various features and formula formulas that are presented in spreadsheet form in Microsoft Excel can help in completing the accounting cycle process. This training was given before the Covid-19 pandemic hit Indonesia. The training participants were students of the XI class of Accounting Department Muhammadiyah 9 Vocational High School (SMK) Jakarta. The problem that exists in the partner's place is that the development of ICT has not been optimally utilized in teaching and learning activities in the field of accounting. The methods provided in this training are by giving lectures and practical methods in operating Microsoft Excel to compile financial reports. The purpose of this Community Service activity is to provide practical knowledge in using Microsoft Excel to compile a company's financial statements. The result of the implementation of this training activity is that students can compile general journals, ledgers, trial balances and financial reports using Microsoft Excel. Participants have benefited greatly from this training in making financial reports using Microsoft Excel faster, easier, more accurate and efficient.

The purpose of this service is to carry out training and assistance in the preparation of financial and tax reports in the tofu and tempeh industry in Sumber Harum Village. Based on the results of observations and FGDs, two problems were encountered: 1) Do not have an application/financial reporting system, 2) Do not understand the preparation of tax administration so it is difficult to fulfill business tax obligations. Based on these problems, two types of activities were carried out, namely: First, mentoring and training in the preparation of financial reports, this stage of activity started with the provision of basic accounting materials, followed by making financial report applications using Microsoft Excel and training on the use of applications that had been made. Second, training and assistance in the preparation of tax administration, this activity begins with the provision of basic taxation materials such as tax rights and obligations, procedures for calculating PPh 21 and final PPh, making ebilling, and reporting SPT through efilling. In general, the implementation of this service has a positive impact on 3 important aspects, 1) Business actors already have knowledge of basic accounting and already have financial statement applications. With this application, it will be easier for industry owners to compile their financial reports so that they can control their businesses at any time. 2) Business actors already know their business tax rights and obligations, so it is hoped that MSMEs, as support the nation's economy, can play a role in increasing tax revenue. 3) Make it easier to plan future businesses, because they already have a good bookkeeping system that can provide comprehensive information.

Citation (2023), "Prelims", Caruana, J., Bisogno, M. and Sicilia, M. (Ed.) Measurement in Public Sector Financial Reporting: Theoretical Basis and Empirical Evidence (Emerald Studies in Public Service Accounting and Accountability), Emerald Publishing Limited, Bingley, pp. i-xxiv. https://doi.org/10.1108/978-1-80117-161-820231012

BUMDes or Village-Owned Enterprises are business entities originating from Village assets which are separated to manage assets, services, and other businesses for the greatest welfare of the Village community. BUMDes was formed in order to help villages increase village original income, through the Regulation of the Minister of Villages, Disadvantaged Regions and Transmigration Number 4 of 2015 concerning the Establishment, Management and Management, and Dissolution of Village-Owned Enterprises in which there is an explanation that the village government can establish BUMDes. According to Article 12 paragraph (3) of the Regulation of the Minister of Villages, Development of Disadvantaged Regions and Transmigration Number 4 of 2014 that the BUMDes Operational Implementer is required to make Financial Reports of all business units every month as an accountability to the Village Government. So far, BUMDes managers have routinely reported as a form of their accountability. However, these financial reports are often not in accordance with what has been used as the proper standard for the Financial Reporting Guidelines/Accounting Standards. Therefore, it is necessary to hold socialization regarding the preparation of BUMDes financial and tax reports. This community service was carried out to 30 BUMDes in Junrejo District. The results showed that more than 40% of the participants felt helped by the event with this theme.

This study drives at exposing the impact of accounting disclosure of environmental costs on quality of financial statements and its importance in rationalizing investment and funding decisions. The study administers a field study on a sample of (6) cement industry establishments in Egypt including accountants, auditors, environmental officials, investments officials, and financial managers in addition to a sample of teaching staff members in Egyptian universities, a sample of financial mediators in the stock exchange, and purposed sample of banks employees, and external auditors who are issuing reports and financial statements. The researcher has designed an investigation form to be distributed randomly on (700) respondents to be analyzed using appropriate statistical approaches for testing the relationships among variables. Results indicate the following: The first hypothesis: There is a significant statistical effect and relationship between accounting disclosure of environmental costs in financial reports and statements of cement companies enrolled in the stock market and quality of these financial reports and statements. The second hypothesis: There are significant statistical differences between quality of financial reports and statements of cement companies enrolled in the stock market and rationalization of investment and funding decision. The third hypothesis: There are significant statistical differences between accounting disclosure of environmental costs in financial reports and statements of cement companies enrolled in the stock market and rationalization of investment and funding decision.

This research discusses the obstacles or challenges faced in the application of the Local Government Information System (SIPD) application in the preparation of financial reports at the West Sumbawa Regency Social Service and how the effectiveness of the application of the Local Government Information System (SIPD) application in the process of preparing financial reports at the West Sumbawa Regency Social Service. The purpose of this study is to determine the obstacles or challenges faced in the application of the SIPD application in the preparation of financial reports and analyze the effectiveness of the application of the Local Government Information System (SIPD) application in the process of preparing Financial Statements at the Social Service of West Sumbawa Regency. This research uses mixed methods (combined methods) qualitative methods to determine the obstacles or challenges faced in the application of the SIPD application in the preparation of financial reports and quantitative methods to analyze the effectiveness of the application of the Local Government Information System (SIPD) application in the process of preparing financial reports at the Social Service of West Sumbawa Regency. The results showed that the use of SIPD for the preparation of Financial Statements still has obstacles and challenges, namely it takes longer because SIPD is integrated with applications at the Ministry of Finance and SIPD has incomplete features so that the preparation of Financial Statements must be used simultaneously between SIPD and the Financial Management Information System (FMIS) so that the preparation of Financial Statements, data must be done manually so that it slows down the process and is prone to errors because it requires accuracy in the process of preparing functional SPJ. From the results of the analysis using SPSS, the t test obtained a significance value of 0.842> 0.717 or the value of t count> t table so that it can be concluded that the use of the Local Government Information System Application is not effective on the quality of Financial Statements at the Social Service of West Sumbawa Regency.

Along with the dynamics of MSMEs in Indonesia, their development faces several problems related to whether the sustainability of MSMEs in Indonesia can be tested in the long term. One of them is caused by capital problems which are often found because MSMEs do not yet have structured financial reports based on SAK EMKM so that they are eligible and accepted when applying for loans. The aim of this research is to determine the influence of understanding accounting and accounting information technology on the preparation of SAK EMKM-based financial reports and their impact on business sustainability for MSMEs in Cilodong, Depok, West Java. The population of this research is MSMEs, Cilodong. The data collection method was a questionnaire distributed to 100 samples of MSMEs in Cilodong, Depok. The collected data was processed using SPSS 27.00 with t test and Path Analysis. The research results show that understanding accounting and accounting information technology has a positive effect on the preparation of SAK EMKM-based financial reports and business sustainability. The results of this research can be useful for MSMEs as input and consideration as well as adding insight, especially regarding the preparation of financial reports and the sustainability of MSME businesses in Cilodong, Depok.

The aim of this study would be to see how independence commissioners, internal auditors, and size of the company affect the financial statement reputation of companies listed on the Indonesia Stock Exchange that produce basic industrial and chemical products (IDX). The findings revealed that having an impartial board of commissioners had a substantial positive impact on financial statement transparency, while having an audit committee and a large corporation had no significant impact. Based on the findings of data analysis research, the audit committee cannot boost the accuracy of the company's financial statements, according to this report. Meanwhile, one of the audit committee's responsibilities is to enhance the accuracy of the company's financial reports such that the details in the financial statements remains current and trustworthy. The internal auditors cannot improve the integrity of the company's financial statements based on the results of data analysis testing. In the meantime, one of the internal auditors tasks is to improve the accuracy of the company's financial reports so that the financial statements' details remain current and reliable. The audit committee cannot enhance the credibility of the company's financial statements based on the findings of data analysis research.

This study aims to explore how cooperatives in SMP Negeri 14 Binjai implement accountability in preparing financial reports. The researcher's observations found several obstacles faced by the cooperative. One of them is the lack of counseling from the Binjai Cooperative Office because the SMP Negeri 14 Binjai cooperative does not yet have a legal entity. However, prior to the formation of this cooperative, the previous experience of the Binjai 11 Public Middle School cooperative which was already a legal entity had learned about accountability. The preparation of financial reports in this cooperative is monitored by the chairman of the cooperative and the supervisor of the cooperative. Good accountability implementation will have an impact on the preparation of financial reports in accordance with Financial Accounting Standards for Entities Without Public Accountability (SAK ETAP). If human resources (HR) are able to prepare financial reports in accordance with SAK ETAP, then financial problems can be minimized, so that inspection and supervision of financial reports will be easier. This study uses qualitative research methods with primary data sources collected through interviews. The results showed that the financial reports at SMP Negeri 14 Binjai were compiled daily based on the income earned by the cooperative. The preparation of the financial statements is based on the application of basic standards and the balance sheet is prepared according to the simple accruals principle. The Semplas Sejahtera Cooperative, SMP Negeri 14 Binjai has presented its financial reports properly, as shown in the interviewees who stated that the cooperative's financial statements are presented in accordance with the transactions that occurred in one period. The presentation of these financial reports is related to cooperative finance and can be seen through the accountability reports submitted at the Annual Member Meeting (RAT) with assistance and supervision from supervisors.

The evaluation of small-companies performance includes financial and non-financial indicators of companies. The main source of information about financial indicators of business activities is the financial statements of a company; basing on them there is performed the evaluation of the company’s business activities and financial status. The evaluation of small companies business performance and financial status have a significant role in making financial managerial decisions, as it help assessing the risks and potential benefits planning the perspective performance of the company. Exploration and evaluation of the meaning of financial indicators, successful solution of business management problems can be reached by the development of a single financial indicators assessment system in the context of complex analysis of business performance. Despite the fact that in scientific literature the number of publications on this theme increases, the researchers have not arrived to a common view on the essence and composition of the financial performance indicators, as well as their measurement and assessment methods. The content of the article reveals various theoretical approaches to the understanding of the essence, classification of financial indicators and types of their measurement. According to the official statistical data each day every fourth company faces the insolvency procedure. The data of the Latvian businessmen survey show that the owners of small enterprises need a definite system of financial indicators to manage efficiently the financial situation in the company. As it is known, the most characteristic feature of small enterprises is limited financial resources and difficulties in receiving them. Due to it this theme has become very topical in the context of borrowed capital, for example, getting bank loan. In order to evaluate the creditworthiness of the borrower financial institutions usually use the data about the average indicators of the branch calculated by LR Central Statistical Bureau and LTD “Lursoft”. Ass regards financial indicators there are at least three conditions to be improved: - applied models of financial indicators used by the institutions mentioned above were developed more than 10 years ago and they are considered to be universal, they do not consider the size of the enterprise and the form of business organization; - simple selection of financial coefficients is the basis of these models with any logical interrelations; - the most complex issue is the quality of information included into financial statements basing on which financial coefficients are calculated; international standards are not taken into account and there is no information whether financial statements are drafted according to the international standards. The ratings of companies published basing on such information by financial coefficients sometimes can mislead the users of financial statements taking into consideration the conditions mentioned above. The aim of the paper is to make recommendations on the development of the financial indicators system on the basis of study and generalization of the scientific publications, and analysis of Latvian practice in the field of a company performance, which the owners of small enterprises in Latvia could successfully apply for evaluation of the company’s financial position. The offered system of financial indicators can be used in the future as a basis for developing a complex model for the evaluation of the financial status of small enterprises. In order to reach the aim of the research the following tasks have been put forward: · to investigate the essence of financial indicators and financial ratios, and to show their role in company performance; · to provide critical evaluation of the approach to the evaluation of financial indicators used in Latvia to assess business performance; · to develop recommendations for designing a financial indicators system for evaluation of a small company’s business performance and its practical implementation. The research is based on the analysis and evaluation of special literature and scientific publications on the financial indicators of business activities and their role in the evaluation of business performance. The following methods have been used in the research: logical analysis ad synthesis, content analysis and a monographic method. The articles analyses and evaluates prior researches on the financial indicators of business performance, considered and systematized financial indicators for the evaluation of small companies’ business performance. The results of the give research could be useful not only for the owners of small enterprises in Latvia, but also for private and public institutions having access to financial information about companies performance in Latvia. DOI: http://dx.doi.org/10.5755/j01.eis.0.6.1554