Financial Accounting Standards Research Articles

Analyzing the Impact of Indonesian Financial Accounting Standards (IFAS) 71 on Allowance for Impairment Losses

Analyzing the Impact of Indonesian Financial Accounting Standards (IFAS) 71 on Allowance for Impairment Losses

Analisis Faktor-faktor yang Mempengaruhi Kepatuhan UMKM Cemilan Nana PKU dalam Menyusun Laporan Keuangan

This research was conducted at the Nana Pku Snack MSMEs at the Jl. Tuanku Tambusai No.34 Pekanbaru branch. This study aims to provide education and how to implement good financial management to the Cemilan Nana Pku branch 2 MSMEs. The research method applied by researchers is Qualitative Descriptive Method, by conducting interviews and documentation. The results of the study found that the factors that influence the interest of MSMEs in preparing Financial Statements are the lack of understanding of MSME actors in recording Financial Statements and choosing to record very simple financial reports so that they have not followed the Financial Accounting Standards for Micro, Small and Medium Entities (SAK EMKM).

A Study of the Implementation of PSAK 74 on Firm's Value of Insurance Companies in Indonesia

Firm’s value plays an important role for both company management and investors in investment decisions. Often, net profit or revenue is closely related to the creation of firm’s value. This research examines whether the application of the Pernyataan Standar Akuntansi Keuangan (PSAK) or Indonesian Financial Accounting Standards Board 74 affects company value as measured using Tobin’s Q. Standards for insurance company contracts have changed based on the adoption of IFRS 17, and are still being prepared and conducted in-depth studies. This research uses a quantitative approach with panel data regression testing using STATA. Data was collected in the form of secondary data on insurance companies listed on the Indonesia Stock Exchange from 2012 to 2022, using a purposive sampling method. The results of the research show that operational profit (loss) from the new face of insurance company financial reports has a positive effect, while insurance company investment profit (loss) has a negative effect on company value. This research expands the study of the implications of implementing PSAK 74 for insurance companies in the future.

THE INFLUENCE OF EDUCATIONAL LEVEL, BUSINESS SCALE, BUSINESS EXPERIENCE AND SOCIALIZATION ON THE PREPARATION OF FINANCIAL REPORTS ACCORDING TO SAK EMKM ON COMPUTER MSMEs IN MALANG CITY

AbstractThis study was conducted to determine the effect of education level, business scale, business experience and socialization on the preparation of financial statements according to SAK EMKM on computer MSMEs in Malang City. The data used in this study are primary data by distributing questionnaires to owners of Micro, Small and Medium Enterprises (MSMEs) in Malang City. The sampling technique used the Lemeshow formula and obtained a sample of 96 MSMEs. The data analysis technique consists of validity and reliability tests, descriptive analysis, classical assumption tests, multiple liner regression analysis, simultaneous tests (F), partial tests (t), and determination coefficient tests (R^2) with the help of SPSS 23. Based on the results of the study, it shows that the level of education, business scale, business experience and socialization on the preparation of financial statements in accordance with the Financial Accounting Standards of Micro, Small and Medium Entities. However, business scale and socialization have an influence on the preparation of financial statements in accordance with SAK EMKM on Computer MSMEs in Malang City.Keywords: Effect of Education Level, Business Scale, Business Experience, Socialization, Preparation of Financial Statements in accordance with SAK EMKM in Computer MSMEs.

ANALYSIS OF THE APPLICATION OF FINANCIAL REPORTING BASED ON FINANCIAL ACCOUNTING STANDARDS FOR SMALL AND MEDIUM MICRO ENTITIES IN MSMEs

The various cultures that exist in Indonesia can be processed and turned into commodities with market value so that they become the basis for the growth of micro, small and medium businesses. However, it needs to be emphasized that MSME players still lack awareness and must be provided with education regarding the relevance of financial openness in their businesses. So far, the MSME registration procedure is still quite simple. In fact, some of them have not documented or prepared financial reports in accordance with the Financial Accounting Standards for Micro, Small and Medium Entities (SAK EMKM) which have just been established. This research aims to describe whether the financial reports of the Irin Jaya Cakalang Fish Processing UMKM in Bojong Village are in accordance with SAK EMKM or not. Data collection was carried out by means of interviews, observation and documentation. This research uses a qualitative method with a descriptive approach. Based on the research results, it shows that the records at the Irin Jaya Cakalang Fish Processing UMKM are not in accordance with SAK EMKM. Irin Jaya Cakalang Fish Processing UMKM has not prepared a financial position report, profit and loss report and notes to financial reports in accordance with SAK EMKM. Apart from that, Irin Jaya Cakalang Fish Processing MSMEs face obstacles in implementing SAK EMKM, namely the lack of knowledge of MSME owners about financial reports in accordance with SAK EMKM, the owners do not have accounting staff who understand preparing financial reports according to SAK EMKM, and MSME owners consider it unimportant to prepare financial reports. the most important thing is to get a lot of profit.

IMPLICATIONS OF COMMUNITY SERVICE: FINANCIAL STATEMENT PRESENTATION TRAINING FOR ACCOUNTING MGMP TEACHERS TANGERANG CITY

The purpose of this community service implication is to provide financial report presentation training for Tangerang City accounting MGMP teachers to increase knowledge and competency of financial accounting standards that apply in Indonesia. Implications of community service using direct experimental methods to determine the effectiveness of training. Collecting data through discussions and direct interviews to gain an understanding of teachers' perceptions and experiences. The results of this activity showed the success of increasing the knowledge and competence of teachers significantly. Teachers are more confident in teaching the presentation of financial reports in accordance with accounting standards applicable in Indonesia. An interactive and relevant teaching system provides broad knowledge and insight into the presentation of financial reports which is useful for teachers. Besides that, it improves practical skills that can be directly applied in teaching. The conclusion from the implications of this training, apart from increasing knowledge and competency for teachers, also contributes to improving the quality of accounting teaching and education in Tangerang City. The implications of training in presenting financial reports are very important to understand the use of accounting standards in Indonesia for industry.

Pengaruh Kesiapan, Pemahaman Dan Pengelolaan Terhadap Implementasi Laporan Keuangan Berbasis Standar Akuntansi Keuangan Entitas Mikro Kecil Menengah

This research aims to determine the influence of Readiness for Understanding and Management on the Implementation of Financial Reports Based on Financial Accounting Standards for Micro, Small and Medium Entities in Micro, Small and Medium Enterprises in Kota Baru Jambi. This research uses quantitative methods with primary data which is the result of observations using questionnaires in Kotabaru Jambi sub-district. This research used a sample of 91 respondents. This sampling used a purposive sampling method.

Pemahaman Pencatatan Akuntansi pada Pelaku UMKM di Tangerang Selatan

This research reveals the financial records of culinary business MSMEs in the South Tangerang area by tracing how they carry out financial records in their businesses which are still running today. This research helps to find out how research subjects interact in managing their finances, helps understand the views, attitudes and behavior of MSMEs towards financial reports for the sustainability of their business. The Status Quo theory is used by researchers to understand and analyze the situation of MSME actors regarding accounting understanding. Data was collected through semi-structured interviews with 20 MSME actors in the culinary sector and then analyzed using a qualitative approach. The research findings show that the majority of MSMEs have not recorded their finances optimally. They still use traditional methods such as recording sales manually and do not meet financial accounting standards (SAK EMKM). The research recommendation is that MSME players need to improve their ability to carry out good and correct financial records for business continuity. The role of government and academics is needed to provide understanding and knowledge for MSMEs in the South Tangerang region, this can take the form of training on basic financial accounting, and implementing a simple recording system with the help of simple software

Analisis Penerapan Standar Akuntansi Keuangan Entitas Mikra Kecil dan Menengah (SAK EMKM) pada UD. Sumber Rejeki Bangsalsari

Indonesia is a developing country that cannot be separated from business activities carried out by both individuals and groups or commonly referred to as Micro, Small and Medium Enterprises. MSMEs have a very important role in creating jobs as well as helping the government in reducing the existing unemployment rate. As a business develops, it increases business funding. Banks/financial institutions will usually require financial reports to see the feasibility of granting credit. Financial reports function as a tool for analyzing financial performance which can provide information about financial position, performance and cash flow. Considering the important role of MSMEs in Indonesia, it is necessary to carry out records in accordance with Financial Accounting Standards (SAK). This standard has 3 components, namely the financial position report, profit/loss report and notes to financial reports which can assist in decision making. Keywords: MSME, financial reports, SAK EMKM.

The urgency of implementation SAK EP in replacing SAK ETAP in savings and loan cooperatives

Savings and Loans Cooperatives (KSP) play an important role in the community’s economy, especially in providing financial access to their members. However, in man- aging their finances, many KSPs still use the Entity Without Public Accountability Financial Accounting System (SAK ETAP). This Community Service aims to ana- lyze the urgency of implementing Financial Accounting Standards for Fund Manage- ment Entities (SAK EP) as a replacement for SAK ETAP in the KSP context. The community service method is carried out through socialization, training and direct assistance to KSP administrators and members in implementing SAK EP. Com- munity Service Results show that the implementation of SAK EP in KSP provides significant benefits, including increased transparency, accountability and reliability of financial information. The use of SAK EP also helps KSP in meeting regulatory requirements and increasing the trust of members and external parties such as banks and the government. Apart from that, this community service also strengthens un- derstanding and accounting skills for KSP administrators and members, which in turn can improve the quality of financial management and overall KSP business growth. This community service emphasizes the urgency of implementing SAK EP in replacing SAK ETAP in KSP as an important step towards better financial gov- ernance, which has a positive impact on the economic growth of society as a whole.

Optimizing Accounting for Amplang MSMEs in Ketapang through the Implementation of MSME Financial Accounting Standards using Google Spreadsheet

This article explores the optimization of accounting practices for Amplang Micro, Small, and Medium Enterprises (MSMEs) in Ketapang through the implementation of MSME Financial Accounting Standards (SAK EMKM). Leveraging the capabilities of Google Spreadsheet as a versatile application, this study focuses on streamlining financial reporting processes for MSMEs. The application of Google Spreadsheet allows for the automated input of journal transactions and initial balances, ensuring the validity of financial information. The results demonstrate that the utilization of spreadsheet applications enhances the practicality and ease of financial report preparation, particularly tailored for small and medium-sized enterprises like Amplang MSMEs. This research contributes valuable insights into the efficient integration of technology in accounting practices, fostering financial management improvements for businesses at the micro, small, and medium scales.

THE EFFECT OF ONLINE ACCOUNTING APPLICATIONS, ENTREPRENEURIAL COMPETENCIES, AND COMPENSATION ON THE PERFORMANCE OF BOOKKEEPERS IN MSMEs IN SEMARANG CITY

MSMEs have been proven to encourage national economic growth, as seen in MSME players who have the ability to prepare financial statements well and in accordance with financial accounting standards. The research aims to examine the effect of the benefits of online accounting applications, entrepreneurial competence, and compensation on bookkeepers in MSMEs in Semarang City. The research population was all MSMEs in Semarang City in 2020 – 2021. The sample used was 76 respondents. This research used primary data and secondary data in the form of performance assessments, attendance lists, and other supporting data that can be used to support primary data. Data were analyzed using Multiple Linear Regression Analysis. The research results show that online accounting applications, entrepreneurial competence, and compensation have a significant effect on bookkeeping performance in MSMEs in Semarang City. This has the implication that by using online accounting applications, entrepreneurial competencies, and good compensation, it is hoped that MSMEs will be able to make the right management decisions in improving good bookkeeping performance. Furthermore, good bookkeeping performance can be used to make appropriate decisions to increase business sustainability. With these findings, it is hoped that the government will support the development of MSMEs and that they can be managed well and in accordance with regulations set by the local government. Keywords: Online Accounting Application, Entrepreneurial Competencies, Compensation, Bookkeepers Performance

Strengthening Financial Governance of Village-Owned Enterprises Sumber Arto Based on Private Entity Financial Accounting Standards

Transparent and accountable reporting of financial information is essential in managing Village-Owned Enterprises (BUMDes). BUMDes Sumber Arto has a capital structure that comes from village funds, community funds, and village assets, so many parties are interested in the transparency of the management of these funds. The lack of competence and capacity of BUMDes directors and administrators in preparing reports causes the financial reports that have been prepared to be rejected by the village government. The accountability and transparency of fund management in BUMDes need to be clarified. This partnership program aims to transfer technology and knowledge regarding understanding accounting and presenting financial reports so that it can provide transparent and accountable information to the village government, management, community, and inspectorates. The approach used is Participatory Rural Appraisal (PRA) in counseling, mentoring, and training. The target community is the director and administrators of BUMDes Sumber Arto, Kenteng Village. The service activities were carried out from July to August 2023. The results of the service activities were that the BUMDes Director and BUMDes administrators could identify each business unit's business activities, strengths, and weaknesses. Furthermore, understanding of the accounting side of accounting began to increase, and the successful determination of the chart of accounts proved this. Furthermore, at the transaction input stage, continuous assistance is still needed so that manual notes can be minimized, and we can switch to a spreadsheet system, which is relatively easy to implement.

Pendampingan Penyusunan Laporan Keuangan Sesuai Standar Akuntansi Keuangan pada UMKM Toko Bunga

Micro, Small, and Medium Enterprises (MSMEs) are one of the main pillars supporting the Indonesian economy. Over time, the number of MSMEs in Indonesia has shown significant growth. However, unfortunately, this growth has not been accompanied by development in the financial aspect. This is evidenced by the numerous MSMEs that still face challenges in managing and preparing financial statements in accordance with Financial Accounting Standards. One of the MSMEs facing obstacles is Vialin Florist, an MSME engaged in floral arrangements and has been operating since 2022 through a digital platform. This research aims to assist Vialin Florist in preparing financial statements in accordance with the Financial Accounting Standards for Micro, Small, and Medium-sized Entities (SAK-EMKM). The method applied is mentoring by providing understanding and guidance to partners in preparing financial statements using Microsoft Excel. The results show that mentoring activities can increase the knowledge and abilities of Vialin Florist’s owners in preparing financial statements more accurately and in accordance with standards. The improvement in the quality of financial statements is expected to positively contribute to the decision-making process undertaken by MSMEs.

EFEKTIVITAS PENERAPAN SOFTWARE AKUNTANSI TERHADAP LAPORAN KEUANGAN UMKM HALAL BOGOR

Optimal financial report quality is when the report provides significant benefits and meets all expected qualitative characteristics. It is noted that a high frequency of transactions occurs in Small and Medium Enterprises. It is also not easy for them to record transactions. Previous studies have shown that the utilization of accounting software in MSMEs is necessary to improve the timeliness and timely and accurate financial statements. In Bogor City, improving the quality of financial reports in MSMEs is inseparable from the City Government's efforts in implementing the applicable Financial Accounting Standards (SAK) and Government Accounting Standards (SAP), by utilizing accounting information systems. The implementation of these information systems is an important step in ensuring quality financial reports, given the importance of public accountability in government financial reporting. By using the DeLone and McLean Information Systems Success Model method as well as a quantitative descriptive approach and Structural Equation Modeling Partial Least Squares (SEM PLS), primary data were collected through questionnaires addressed to Halal MSMEs in Bogor City. The results showed that system quality did not have a significant impact on perceived benefits. Likewise, information quality has no effect on perceived benefits. System quality also has no significant impact on end-user satisfaction; however, information quality is shown to make a positive contribution to end-user satisfaction. Nonetheless, perceived benefits did not have a positive impact on end-user satisfaction. End-user satisfaction, in turn, had a significant influence on system usage.

Accounting Of Mudharabah Transactions According To Islamic Concepts

The objective of this research is to investigate the use of the mudaraba accounting framework in the financing model for Micro, Small, and Medium Enterprises (UMKM). The research conducted is a literature review. This study employs a qualitative descriptive model. The utilization of mudaraba accounting as a funding model for the Microfinance Program (PKM) by Islamic Financial Institutions (LKS) in support of Micro, Small, and Medium Enterprises (UMKM). The present study employed Statement of Financial Accounting Standards (PSAK) 105: Accounting for Mudaraba as a framework for the identification, quantification, and representation of PKM transactions using MSMEs. The findings indicate that the financing model for micro, small, and medium enterprises (UMKM) implemented by the PKM contributes to the enhanced self-sufficiency of MSMEs in fulfilling their financial needs for company operations. The support of suitable accounting practices is crucial for enhancing the reliability of information in LKS's Mudaraba-based finance portfolio for MSMEs. Additional study is necessary to investigate the actual circumstances surrounding the financing of Small and Medium Enterprises (SMEs) through the Limited Liability Company (LKS) structure. This research aims to provide a full understanding of the accounting practices associated with mudaraba, a financial arrangement based on profit sharing, which serves as a means to support such financing.

Pelatihan Akuntansi Dasar untuk Meningkatkan Kompetensi Auditor di KAP Sarastanto dan Rekan Kota Semarang

Transparency of financial reports today is very wide open with advances in technological development. Openness of financial report information allows the public to assess the quality of financial reports. The quality of good financial reports can be seen from the results of opinions by the public accounting profession who provide services to assess the fairness of financial reports. Fairness of financial reports provides the assumption that the financial reports have been prepared in accordance with the financial accounting standards applicable in Indonesia. Financial Accounting Standards provide guidance on the process of recording, measuring and presenting financial reports. A good financial report must start first with recording the accounting cycle. Understanding an entity's accounting cycle makes the auditor understand the recording and reporting model of a client entity. An accounting cycle that is understood by the auditor will be useful in providing adjustments or audit correction journals if recording errors occur. The community service program carried out by a team of lecturers from the Faculty of Economics and Business, Dian Nuswantoro University with auditors at KAP Sarastanto and Pekan Kota Semarang provides several trainings related to basic accounting knowledge. This activity is expected to provide knowledge and skills in preparing financial reports in accordance with standards

Pendampingan Unit/Wadah Organisasi Model Pencatatan Transaksi Keuangan dalam Pembukuan Sederhana

The aim of this community service program is to provide assistance and education to the community in Kiera Hamlet, Southwest Maluku Regency regarding recording financial transactions in simple bookkeeping in accordance with applicable financial accounting standards. This program will take place on Saturday 3 to face in Kiera Hamlet, Moa Island, Southwest Maluku Regency. This activity was carried out with the presence of all Kiera hamlet staff, chair of the church congregation council. Church staff, village community and home base lecturers as well as students of the PSDKU Accounting study program, Southwest Maluku Regency. The method used in this activity is a participatory learning method. After carrying out this service, the community will gain knowledge about bookkeeping in managing finances so that the recording process can be carried out regularly.

Islamic financial accounting standards in Pakistan: a comparison with AAOIFI

Purpose This paper aims to compare the Islamic financial accounting standards (IFAS) prevailing in Pakistan declared by the Securities and Exchange Commission of Pakistan (SECP) with accounting standards of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Design/methodology/approach Both standards related to Islamic financial accounting have been thoroughly reviewed, compared and discussed to find out the differences and similarities, along with the depth needed to meet the needs of Islamic finance. Findings AAOIFI accounting standards provide a comprehensive view of complex transactions, whereas SECP standards have limitations. The proposed recommendations aim to bridge the gap by conducting periodic reviews and revisions of IFAS prevailing in Pakistan to keep up with the dynamic nature of the Islamic finance industry. Practical implications The regulators should establish institutional arrangements for adapting AAOIFI accounting standards, enabling efficient and effective upgrading of existing accounting standards for Islamic financial institutions and alignment with international best practices. Originality/value There is a dearth of studies related to Islamic financial accounting in the context of Pakistan; this is one that contributes to this area.

Implementation of SAK-EMKM

The objective of this study is to examine the impact of socialization, accounting comprehension, and readiness of micro, small, and medium enterprises (MSMEs) on the implementation of financial statement preparation based on the Indonesian Financial Accounting Standards for Micro, Small, and Medium Enterprises (SAK-EMKM). The research method is categorized as quantitative research. The study utilizes primary data in the form of a questionnaire. The study focused on the population of Micro, Small, and Medium Enterprises (MSMEs) that actively took part in the UMKM Juara program in the Karawang Regency during the year 2022. The sampling technique employed was saturation sampling, wherein the whole population under study was sampled. The utilized specimen had a value of 132. The findings indicated that partial socialization positively and significantly influences the implementation of financial statement preparation based on SAK-EMKM. On the other hand, an understanding of accounting has little impact on implementing financial statement preparation based on SAK-EMKM. Additionally, MSME readiness significantly affects the implementation of financial statement preparation based on SAK-EMKM. The concurrent processes of socialization, comprehension of accounting principles, and preparedness of MSMEs have a favorable and substantial impact on the execution of financial statement preparation based on SAK-EMKM.