Statement Of Comprehensive Income Research Articles

Accountability, Donor Funding and Non-Governmental Organisations in Kisumu County in Kenya

Accountability is an important aspect of all organisations today. Accountable NGOs have been found to receive large funding from donors and thus undertake development programs that alleviate human suffering. This study is set to establish the accountability of donor funding by non-governmental organisations in Kisumu County. The study adopted a descriptive survey design. The target population was the NGOs located in Kisumu County- Kenya. The population was made up of all the 187 NGOs in the region. The use of open-ended questions was justified because some of the information concerned sensitive matters of the NGOs, particularly those involving finances and governance. The study established that donor funding was dependent on the accountability mechanisms put in place by the implementing NGOs. The study revealed that NGOs were expected to keep a minimum set of financial statements, e.g. Statements of comprehensive income, statements of financial position and cash flow statements. The study revealed that community involvement in the oversight of NGOs was still not adequately practised and that satisfaction of the employees with their pay perks could not be established. Donors were keen on compliance with the laws of the country and involved the oversight bodies in checking the compliance and legitimacy of the NGOs before funding and partnering with them. It was established that donors expected performance measurements to be done and that NGOs prepared specific reports. The donors also demanded that the authenticity of the financial statements be verified by independent auditors. Therefore, this study recommends that NGOs develop proper and effective accountability mechanisms to measure performance and enhance legitimacy and accountability. This will include using proper performance measurement tools and compliance with donor and government regulations to secure sustained financing and ensure that the County's development agenda is achieved. The study further recommends that the NGOs procure the services of recognised audit firms that will offer value-adding audits, which, in effect, will boost donor confidence.

Financial Management Practices and Financial Accounting Standards Compliance: Case of MSMEs in the Northern Philippines

Starting a business appeared simple; however, many businesses fail to maintain their operations in the long run. Based on this issue, this study explores the depth of understanding and knowledge of MSME business owners in Ilocos Norte, Philippines, regarding compliance with Financial Accounting Standards (FAS) and Financial Management Practices (FMP). Additionally, it seeks to determine the relationship between FAS and FMP and the success of businesses. The methodology used was a descriptive and correlational design. The data was gathered from 379 MSMEs through a survey questionnaire. A 4-Likert scale was used to analyze and interpret the results. Also, researchers used the International Business Machines Statistical Package for the Social Sciences (IBMSPSS), specifically regression analysis, to correlate the financial performance of the MSMEs to their financial management practices and compliance with the financial accounting standards. The study revealed that micro, small, and medium enterprises (MSMEs) in Ilocos Norte maintain a moderate level of implementation of financial management practices and compliance with financial accounting standards, concentrating on the Statement of Comprehensive Income. The study also revealed a significant relationship between financial management practices, compliance with financial accounting standards, and business performance, leading to success. It is justified that effectively and efficiently managing financial matters can contribute to the enhancement of business performance.

Analisis Penerapan PSAK 24 Mengenai Imbalan Pasca Kerja Pada PT Bank Negara Indonesia (Persero) Tbk

This research was conducted at a state-owned enterprise (SOE) operating in the financial sector, specifically in banking, namely PT Bank Negara Indonesia (Persero) Tbk, commonly referred to as BNI. The aim of this study is to examine the presentation and reporting of the implementation of PSAK 24 employee benefits, particularly post-employment benefits at PT Bank Negara Indonesia Tbk. The data used in this research is entirely secondary data, and the analytical technique employed is a descriptive quantitative method. The data used in this study includes the financial statements of PT Bank Negara Indonesia Tbk for the period 2020-2022. The data was collected from PT Bank Negara Indonesia Tbk and the official website of PT Bank Negara Indonesia Tbk. The results of the research at PT Bank Negara Indonesia Tbk indicate that the presentation and reporting of employee benefits are in accordance with PSAK 24. The employee benefits of PT Bank Negara Indonesia Tbk are recorded in the income statement, and in the statement of financial position, they are recorded as a liability account for employee benefits. The differences in the gains (losses) of employee benefits are recorded in the comprehensive income statement.

THE INFLUENCE OF INTELLECTUAL CAPITAL ON FINANCIAL PERFORMANCE: EVIDENCE FROM LICENSED SPECIALIZED BANKS IN SRI LANKA

As the knowledge-based economy developed, businesses transformed their emphasis from physical to intellectual capital. Numerous studies have looked into how intellectual capital affects a company's value. The study's goal is to investigate, from 2010 to 2022, the connection between five licensed specialized banks' financial performance and their intellectual capital. The statements of comprehensive income and financial position for the pertinent years were the main sources of the data that were collected from the banks' annual reports available on their individual websites. The study's results were analysed and secondary quantitative data screened using EViews version 9 statistical software. The value-added intellectual coefficient method was used to measure the banks' performance based on their intellectual capital. The return on equity and return on assets are two indicators of the bank's performance. The value of intellectual capital was analyzed in three categories: structural, intellectual, and physical. Both simple and multiple regression techniques were used to assess the effect of intellectual capital on equity and assets. The study found a significant correlation between the value-added intellectual coefficient, its components, and financial performance. In both multiple regression models, the structural capital efficiency was statistically insignificant but positively correlated. Both multiple regression models showed statistical insignificance and negative correlation for the capital employed efficiency. Human capital efficiency was statistically significant and positively correlated in both multiple regression models. The most crucial value-added intellectual coefficient factor for generating value in Sri Lankan specialty banks operating in the banking industry is human capital efficiency. Additionally, this study will give stakeholders and possible investors some information to evaluate the value-creating potential of particular banks. The findings of the study help to increase decision-makers' understanding of the importance of intellectual capital as a crucial element that can enhance a business's ability to maintain its competitive position. This study is the first to examine the impact of intellectual capital on the financial performance of Sri Lankan licensed specialized banks through 2023. The study emphasizes how critical it is to investigate the relationship between intellectual capital and the banking industry's financial performance in greater detail.

Adoption of Accrual Accounting in the Brazilian Public Sector: a Case Study in Light of Regulation Theory

Objective: To identify existing gaps in the adoption of full accrual accounting in the public sector, with a focus on analyzing the financial statements of the Ministry of Defense (MD), and to investigate the application of accrual accounting in the public sector, considering its complex regulations. Theoretical Framework: For the analyses, the theoretical foundation is based on the theory of regulation applicable to accounting regimes in the public sector. Methodology: The research, using the Ministry of Defense (MD) as a case study, adopted a multifaceted methodological approach, including a case study, literature review, and documentary analysis. Data sources included books, dissertations, scientific articles, and legislation. Documentary analysis focused on the MD's Financial Statements, accessed through the government portal, covering the years 2018 to 2022. The research also employed content analysis techniques, following the methodology suggested by Sampaio and Lycarião (2021), to evaluate the content of the information in relation to the established objectives. Results and Conclusions: The research identified that there is already partial adherence of the public sector to international standards, as the cash basis is still observed for revenues, and areas for improvement were noted, such as the adoption of the Statement of Comprehensive Income in the context of the public sector. Research Implications: It was observed that regulatory changes are important instruments for influencing the accountability processes of the public sector. Originality/Value: The research emphasizes the partial adoption of international public accounting standards and suggests further discussions and analysis to achieve complete adherence, confirming a gap between the implementation of standards and their practical application.

Analisis Penerapan Isak 35 Tentang Penyajian Laporan Keuangan Entitas Berorientasi Nonlaba Pada Yayasan

This sudy aims to analyze the report according to ISAK 35 and find out the obstacles to making ISAK 35 financial statements at the Islamic Education Foundation Al-Ikhlas Raudlatul Athfal "Al-Ikhlas" Sukabumi. This research uses a qualitative method with a descriptive approach. Based on the research, nonprofit organizations such as foundations, their financial reporting refers to ISAK 35 related to the presentation of a nonprofit-oriented entity's financial statements with 5 (five) components of financial statements which include the statement of financial position, statement of comprehensive income, statement of changes in net assets, statement of cash flows and notes to financial statements. After analyzing what happened to this foundation in 2022, it did not use ISAK 35 financial statements as a financial reporting standard. However, the financial statements made are only simple, namely only recording cash in and cash out. As well as the initial transactions that occur are recorded first even though there is no cash to be issued so that accounting records are included in cash-based records. At the end of the year the records will be recapitulated and become a financial report that records income and expenses and is set aside as the remaining operational money or as a determinant of cash in the treasury during one period. And the obstacles to the preparation of financial statements in accordance with ISAK 35 in this foundation in terms of human resources factors.

리픽싱 전환사채 발행기업의 회계선택에 관한 사례연구 : 전환권 분류를 중심으로

[Purpose] The purpose of this study is to analyze through actual cases how a company’s accounting choices related to the right to convert refixing convertible bonds subsequently affect its financial statements. [Methodology] Among companies that issued convertible bonds with similar conditions at the same time, the entity classifies convertible bonds into derivative liabilities, capital, and derivative liabilities, respectively, subsequently reclassifies them into capital to confirm from a practical point of view how the accounting treatment of convertible bonds affects financial statements. In particular, considering that the refixing clause is linked to the stock price of the issuing companies, we consider whether the stock price movement was similar when selecting the sample companies to show that it is not an unusual case that appears only in extreme samples. [Findings] If the conversion right is classified as equity, changes in the share price and subsequent accounting for the conversion right do not affect the financial statements, but if it is classified as a liability, it can have a material impact on the statement of comprehensive income, and the impact increases with the size of the convertible bond issued and the change in share price. We also found that the accounting choice for the conversion right can be changed at the discretion of the companies, but it is confirmed that related disclosures is very insufficient. [Implications] The case of this study confirm that accounting for items that are not clearly presented in K－IFRS can cause confusion in the capital market if the accounting treatment is not clearly defined by the relevant authorities. It also suggests that political efforts should be made to ensure that the IASB’s discussion process for revising IAS 32 takes into account the situation in Korea.

Фінансова звітність суб’єктів приватного сектору за національними та міжнародними стандартами: порівняльний аспект

The article is devoted to comparing the composition and structure of financial statement forms of private sector entities according to national and international standards. It examines the list of economic entities obliged to submit reports according to IFRS, along with the information that must be disclosed in providing financial statements. The set of financial statements under national and international standards are revised, comparing the provisions of national and international standards regarding the statement of financial position and the statement of comprehensive income.

Using interactive learning objects in teaching accounting sciences: a case study

Interactive learning objects (ILOs) are tools that can enhance and promote teaching in various fields of knowledge. For instance, GeoGebra is free educational software designed for teaching and learning mathematics. It is interactive mathematical software that can help students better understand accounting concepts and visualize complex financial relationships, making it easier to learn abstract concepts. Additionally, it can be used to explore what-if financial scenarios, which can help students develop their decision-making skills. The purpose of this article is to investigate the impact of GeoGebra on the development of mathematical skills among accounting science students. It contributes to the literature by demonstrating the effectiveness of teaching financial concepts through the application of five linear functions and their mathematical relationships in GeoGebra. This approach bridges the gap between differential calculus knowledge and the ability to achieve a geometric understanding and interpretation of the lines that can be created with this dynamic software. It also enables the interpretation of financial statement concepts based on the variations of the lines. GeoGebra, mathematical software, will feature a comprehensive income statement (CIS) as one of its relevant financial statements in financial accounting. Starting with an equation containing 15 variables, 2 are selected to represent the abscissa and ordinate axes, while the remaining 13 are considered parameters that can be adjusted by the user in the OIA windows. By changing these values, the equation will produce a straight line. It is worth noting that using OIA can be an effective strategy for enhancing one’s understanding of the basic sciences. The study emphasizes the significance of accuracy in financial management, the interplay among variables, and the utilization of technological tools to aid in comprehending these concepts.

PENERAPAN ISAK 35 DALAM PENYUSUNAN LAPORAN KEUANGAN PADA ORGANISASI NONLABA

The mosque is an entity that is not oriented to seek profit, one of the important aspects in managing the mosque is the financial accountability report. IAI states that there are accounting standards that are specific to the recording and presentation of financial statements of non-profit entities to realize a good form of Accountability Report. The standard that regulates the financial reporting of non-profit entities is Financial Accounting Standard No. 35 (ISAK 35). With the implementation of ISAK 35 in the presentation of mosque financial statements, the public and interested parties will get information related to the performance of mosque administrators and treasurers. The object of this research is one of the AAAA Mosques in Sidoarjo Regency. Data were collected through a series of interviews and observations and literature. Until now, the AAAA Mosque in Sidoarjo only presents simple financial reports, namely cash in and cash out reports. This study aims to simulate the preparation of the AAAA Mosque's financial statements based on ISAK 35. The financial statements produced include the Statement of Financial Position, Statement of Comprehensive Income, Statement of Cash Flows and Notes to Financial Statements.

ANALISIS PENERAPAN AKUNTANSI BERDASARKAN ISAK 35 PADA KANTOR LEMBAGA BANTUAN HUKUM MAHARDIKA JAMBI

This study aims to apply accounting based on ISAK 35 at the office of the Mahardika Legal Aid Institute The concept of ISAK 35 allows non-profit oriented entities to adjust the description used by financial statements and the financial statements themselves include statements of financial position, comprehensive income statements, statements of changes in net assets, statements of cash flows, and notes to financial statements At the Mahardika Legal Aid Institute has not implemented or made reports to these financial statements. The purpose of this study is to find out how the presentation of financial statements at the Legal Aid Institute. The types of data used are primary data and secondary data. Data collection techniques are carried out using interview and documentation techniques. The data analysis method used is qualitative descriptive, which is a method that describes, describes, compares data and circumstances and explains a situation in such a way that a conclusion can be drawn. The research was conducted at the Mahardika Engineering Legal Aid Institute research.
 Based on the results of the analysis, the financial statements of the Mahardika Legal Aid Institute are not in accordance with ISAK 35 because the presentation of the financial statements of the Mahardika Legal Aid Institute still uses simple recording. The financial statements of the Mahardika Legal Aid Institute have not made a statement of financial position, comprehensive income statement, statement of changes in net assets, statement of cash flows, and notes to financial statements.

Implementation of PSAK 73: Study of Financial Ratios of PT Aneka Tambang, Tbk

This research aims to analyze changes in PSAK regarding rent, which affects financial performance at PT Aneka Tambang Tbk. Implementing PSAK 73 requires lessees to classify operating leases into finance leases except for short-term leases and assets with a low basis. Lessees with future operating lease commitments must capitalize the lease assets and liabilities. Lease capitalization causes assets and liabilities to increase and equity to decrease in the statement of financial position while net profit in the comprehensive income statement increases. This is because the expenses that arise from the capitalization of rent, namely depreciation and interest expenses, are smaller than the rent expenses written off. The quantitative descriptive research uses secondary data sources in the form of PT Aneka Tambang Tbk's financial reports in 2019 before changes to the PSAK Lease and in 2020 after changes to PSAK. The research results show that changes to PSAK impact the company's financial performance as assessed by financial ratios.

PENERAPAN ISAK 35 TENTANG PENGELOLAAN LAPORAN KEUANGAN ENTITAS BERORIENTASI NON LABA Studi Kasus Pada Vihara Dhammadipa Arama Batu Malang

Abstract The presentation of financial reports for non-profit organizations is regulated in the Statement of Financial Accounting Standards (PSAK) 45 since 1997 which was later updated with the Interpretation of Financial Accounting Standards (ISAK) 35 which became effective in 2020. The purpose of this study was to look at the presentation of financial reports at the Dhammadipa Arama Temple accordance with ISAK 35 and its benefits. The type of research used in this study is a descriptive qualitative method with a case study approach. The form of financial reports at the Dhammadipa Arama Batu Temple in 2022 has been adjusted to ISAK 35 which consists of a Comprehensive Income Statement, a Statement of Cash Flows, a Report on Changes in Net Assets, a Report Finance and Notes to Financial Statements. The Dhammadipa Arama Monastery has many benefits that will be obtained by implementing ISAK 35 in financial reports including improving the quality of financial reports, completing elements of financial reports and making it easier to find out surplus (deficit), being able to see how much current assets and non-current assets they have.

Implementation of ISAK 35 at the Daarul Fathonah Islamic Boarding School Foundation in Tegalgubug Lor District, Arjawinangun District, Cirebon

The financial aspect and recording financial reporting is an important aspect of an entity, whether for profit or non-profit. PSAK 45 has regulated the financial reporting rules of non-profit entities since 1997. Then, on April 11 2019, DSAK IAI issued PPSAK 13 which contained the revocation of PSAK 45 and the issuance of ISAK 35. On January 1 2020, the ISAK 35 guidelines came into effect. This research aims to determine financial management at the Daarul Fathonah Islamic Boarding School Foundation and determine its adaptation to ISAK 35. The findings of this research are that the financial management process at the Daarul Fathonah Islamic Boarding School Foundation is divided into five stages, namely planning, implementation, administration, reporting and accountability. The financial reporting of the Daarul Fathonah Islamic Boarding School Foundation is not fully in accordance with ISAK 35; Of the five ISAK 35 financial reports, only three financial reports have been adapted, namely the financial position report, comprehensive income statement and cash flow report, as well as two ISAK 35 financial reports that have not been adapted, namely the report on changes in net worth. and notes to financial reports, because these two financial reports are not required by law.

Analisis Rasio Keuangan untuk Menilai Kinerja Keuangan pada PT. Indofood Sukses Makmur, Tbk

This research purpose to determine the financial performance of PT Indofood Sukses Makmur, Tbk in 2018-2022 period using financial ratio analysis. The basis for assessing and achieving a company is through financial analysis so that the company can control its financial condition and create a company framework. In assessing the job prospects of a company in the past and future and assessing the achievements of a company, financial ratio analysis is used which includes liquidity ratios (current ratio), solvency ratios (debt to asset ratio), activity ratios (total asset turnover), profitability ratio (return on equity) and market ratio (earnings per share). This research is descriptive research which is studied quantitatively. The population of the research is all financial reports of PT. Indofood Sukses Makmur, Tbk is listed on the IDX in 2018-2022 period. The sample for this research is the financial position report and comprehensive income statement in 2018-2022 period. Data collection was carried out using documentation techniques. The results of this research found that the overall financial performance of PT. Indofood Sukses Makmur, Tbk in 2018-2022 period based on analysis of liquidity ratios and solvency ratios is in fairly good condition. Meanwhile, profitability ratios and market ratios are in good condition. However, regarding the activity ratio, the condition of PT. Indofood Sukses Makmur, Tbk is still not efficient so it can be said to be not good. This is due to an increase in sales and total assets during the 2018-2022 period. Based on the results of calculations and analysis of financial ratios, it can be concluded that the financial performance of PT. Indofood Sukses Makmur, Tbk in 2018-2022 period experiences growth in various aspects and profitability can increase, making the company profitable.

Financial Performance Analysis of Mining Company PT. Vale Indonesia Tbk. Using the Economic Value Added (EVA) Method for the 2019-2022 Period

This study aims to analyze and assess the financial performance of PT Vale Indonesia using the Economic Value Added (EVA) approach during the 2019-2022 period. The type of research used is quantitative using descriptive data. The population in this study is the financial statements of the mining company PT Vale Indonesia Tbk. for the last 4 years, namely 2019-2022. The sample of this study is the statement of financial position and comprehensive income. The data collection technique used is documentation. The data analysis technique used is Economic Value Added (EVA) analysis which consists of NOPAT, Invested Capital, WACC, and Capital Charges. The results of this study indicate that the value of Economic Value Added (EVA) at PT Vale Indonesia Tbk. period 2019-2022 is always positive (EVA> 0) so that it can be said that management is able to create economic added value for the company. The results of the analysis using the Economic Value Added (EVA) method to measure the financial performance of the mining company PT Vale Indonesia Tbk. period 2019-2022, showed that during 2019 to 2022 it was always positive (EVA> 0). Based on this, it can be said that management is able to create economic added value for the company, investors or capitalists get more investment returns than invested and creditors can get interest, this situation shows that the company has succeeded in creating value for capital owners so that it indicates good financial performance.

The problems with comparability among financial statements prepared within Polish entities under IFRS

The aim of this paper is to analyse the comparability of headings included in the consolidated statements of profit or loss and other comprehensive income prepared under IFRS.The study required the analysis of statements of profit or loss and other comprehensive income patterns ensured by Polish accounting regulations as well as IFRS propositions in this field. Moreover, it covered the analysis of structure and content of IFRS consolidated statements of profit or lossand other comprehensive income prepared for the 2005–2019 period by Polish listed companies. The empirical study based on 477 consolidated statements of profit or loss and other comprehensiveincome showed that Polish entities use national patterns in IFRS reporting. Moreover, the results indicate that some entities were using the terms proposed by IFRS only in some years.As the analysis showed, there are some factors that may diminish the comparability of financial statements prepared under IFRS. To protect users of financial statements from making wrong decisions based on the illusion of comparable IFRS statements, there is a further obligation for researchon how comparable IFRS financial statements really are. Bringing attention to comparability problems with IFRS financial statements may influence future regulators’ approach in setting standards. This can enhance the quality of financial statements.

Empirical Assessment of the Effect of Financial Reporting Components on Investment Decisions of Small and Medium Enterprises in Nigeria

Financial reporting is a critical aspect of business operations that enables companies to communicate relevant financial information to their stakeholders. The primary goal of financial reporting is to provide investors with information that can assist them in making informed investment decisions. Therefore, this study aimed to investigate the effect of financial reporting on the investment decisions of SMEs. The study made use of primary data. Primary data was collected using an interview guide and questionnaires, with respondents being those in charge of making investment decisions in the firm under study or their agents. The questionnaire included both closed-ended and Likert-type questions. 150 questionnaires were administered out of which 100 were completed and returned. In order to ensure the reliability of the measures used in this research, the researcher conducted a random re-test exercise within the population sample of the study. The study findings indicate that financial reporting has a significant impact on the investment decisions of SMEs. The comprehensive income statement, statement of financial position, cash flow statement, and the statement of changes in shareholder's equity were found to have a significant positive effect on investment decisions. This finding implies that investors consider the information contained in these financial statements when making investment decisions. The study results state the importance of including all financial statements in financial reporting, as each statement provides unique information that can be relevant to investors. The study therefore recommended among other things; The Nigerian government and regulatory bodies should strive to improve financial reporting standards for SMEs, SMEs in Nigeria should be encouraged to undergo financial literacy education to improve their understanding of financial statements, the government should provide incentives such as tax breaks and subsidies to SMEs that prepare and disseminate comprehensive financial report.

Accountability and Financial Management of Mosques Based on ISAK 35 Concerning Financial Reporting of Non-Profit Organizations: Case Study at Al-Ikhlas Mosque

This study aims to find out how accountability for financial management exists at the Al-Ikhlas mosque and to find out how it conforms to ISAK 35 regarding financial reporting of non-profit organizations. The method used in this research is descriptive qualitative research method. Data collection techniques used are observation, interviews, and documentation. According to ISAK 35, the financial statements of non-profit entities include statements of financial position, statements of comprehensive income, statements of cash flows and notes to financial statements. With good cash management, we can provide information to donors and other interested parties. The results of this study indicate that financial management at the Al-Ikhlas Mosque is still not in accordance with ISAK 35 standards, and the recording carried out by mosque administrators is still simple, namely recording income and expenses which are presented every Friday manually. The accountability process, which in this case is the process of disclosing to the congregation, is still not maximally detailed, only conveying the amount of income and expenses without clear details. Even so, the mosque parties have tried to make the best possible disclosure. This is because the management of the mosque does not know the financial recording system based on ISAK 35.

PENGUNGKAPAN LAPORAN KEUANGAN KONSOLIDASI BERDASARKAN PSAK 4 (REVISI 2009) PADA PT BCA

This research aims to determine the requirements for disclosing consolidated financial statements based on PSAK 4 (Revised 2009) at PT. Bank Central Asia Tbk. The methods used in this research are descriptive analysis. The secondary data consists of the Consolidated Financial Statements of PT. Bank Central Asia Tbk as of December 31, 2021, and 2022. The results of the research indicate that: (1) the consolidated statement of financial position; (2) the consolidated statement of comprehensive income; (3) the consolidated statement of changes in equity; and (4) the consolidated statement of cash flows of PT. Bank Central Asia Tbk and its Subsidiaries are in accordance with PSAK 4 (Revised 2009). The Parent Entity, in consolidating the financial statements of its Shariah-based subsidiaries, refers to Shariah PSAK and the Guidelines for Shariah Banking Accounting in Indonesia (PAPSI). The hypothesis in this research is accepted.
 Kata kunci: PSAK 4, Consolidated Financial Reports.