scholarly journals Balance Sheet Model for Small Economic Entities

2021 ◽  
Vol 6 (2) ◽  
pp. 7-11
Author(s):  
Halina Chlodnicka ◽  
Grzegorz Zimon
Keyword(s):  
Financial Reporting ◽  
Financial Crises ◽  
Small And Medium Enterprises ◽  
Balance Sheet ◽  
Financial Statements ◽  
Financial Data ◽  
Business Managers ◽  
Financial Reports ◽  
Business Entities ◽  
Medium Enterprises

Financial reporting still raises doubts and concerns among large and small entrepreneurs. When analyzing financial statements, the recipient often asks whether the current comprehensive forms of financial statements are not too vague and confusing. Data disclosed in the financial statements are often not easily read by ordinary users or even analysts. Maybe now it is worth looking for other new solutions that will allow business managers to obtain basic financial information from the financial reports in a quick and immediate way. The increase in competition and financial crises caused the largest number of bankruptcies in the group of small and medium enterprises. And it is to these small economic entities that it is worth facilitating the process of analyzing financial data. For this group of enterprises, it is worth highlighting in the financial statements those data that may inform about risks in conducting and continuing further operations. The article presents a balance sheet model for small business entities. Its layout and formula is designed to lighten the picture of the company’s financial situation and provide the most important information on the company’s financial safety.

scholarly journals Asistensi Pembuatan Laporan Keuangan Berbasis Android bagi Usaha Mikro, Kecil, dan Menengah

2018 ◽  
Vol 2 (2) ◽  
pp. 75
Author(s):  
Taufik Raharjo ◽  
Khusnaini Khusnaini
Keyword(s):  
Gross Domestic Product ◽  
Community Service ◽  
Financial Reporting ◽  
Financial Planning ◽  
Small And Medium Enterprises ◽  
Financial Statements ◽  
Employment Opportunities ◽  
Financial Reports ◽  
Service Activity ◽  
Medium Enterprises

Micro, Small and Medium Enterprises (MSMEs) have shown their role in creating employment opportunities and as an important source for the growth of Gross Domestic Product. However, many MSME entrepreneurs do not understand yet the importance of financial planning and financial statements. So, they have not gained trust in accessing the capital facilities offered by the banks. The purpose of this community service activity is to raise the awareness of MSME entrepreneurs about the importance of business financial planning and the preparation of financial statements. The coaching of financial reporting skill is conducted using the "Akuntansi UKM”, an android based application. Participants in this service are MSME entrepreneurs in the Bali region. The results of this service activity are an increase in understanding of the importance of financial planning and making financial reports by using the application of "Akuntansi UKM".

scholarly journals Accounting Policies, Management Judgements And Financial Reporting Quality Of Small And Medium Enterprises In Nigeria: A Survey

2021 ◽  
Vol 2 (2) ◽  
pp. 58-70
Author(s):  
Efeeloo Nangih ◽  
Samuel Chikwuchehia Wali ◽  
Peggy Oluchi Anyanwu
Keyword(s):  
Financial Reporting ◽  
Survey Design ◽  
Small And Medium Enterprises ◽  
Reporting Quality ◽  
Financial Statements ◽  
Financial Reports ◽  
Financial Decisions ◽  
Medium Enterprises ◽  
Accounting Policy

The accounting policy adopted by an enterprise, together with the level of approximations done by the management in financial statements, could either enhance or impair their relevance and reliability, and by extension, the credibility of financial decisions made by users of such reports. This is because financial statements portray the financial position and performance of entities. This study assesses the influence of management’s choice of accounting policy and accounting approximations in financial statements on the quality of financial reports of Small and Medium Enterprises in Nigeria. The study was anchored on the Stakeholders’ theory. The study also adopted the survey design approach. Data were mainly collected through the questionnaire and was analyzed using descriptive statistics and regression techniques. Findings revealed that wrong approximations may affect the quality of financial reports, together with other factors.  It was recommended that management of small and medium enterprises should adhere to the provisions of accounting standards when designing their accounting policies and in their judgements/approximations; in order to reduce material errors and enhance the quality of their financial report.

scholarly journals Penyusunan Laporan Keuangan UMKM Berbasis Online dengan Aplikasi LAMIKRO

2020 ◽  
Vol 4 (2) ◽  
Author(s):  
Soraya Soraya ◽  
Yani Riyani ◽  
Kartawati Mardiah ◽  
Susan Andriana ◽  
Rika Irawati ◽  
...  
Keyword(s):  
Small And Medium Enterprises ◽  
Financial Statements ◽  
Test Results ◽  
Financial Reports ◽  
Digital Era ◽  
Post Test ◽  
Service Activity ◽  
Accounting Report ◽  
Medium Enterprises ◽  
A Company

In the digital era as it is today, information technology has a significant impact on the process of accounting records in a company. However, the human resource factor is an obstacle for SMEs to develop and be able to compete with large companies. Moreover, if it is associated with the importance of presenting financial statements that are accountable and in accordance with standards, it requires MSMEs to be responsive to technological changes that occur. The existence of these demands, made the Ministry of Cooperatives and Small and Medium Enterprises (SMEs) in October 2017 launch an online-based application that is the Micro Business Accounting Report (Lamikro) application. The purpose of this Community Service activity is to provide knowledge about the preparation of financial statements with the application of Lamikro to MSMEs that are found in the Office of Cooperatives, Micro Business and Trade of Pontianak City. The participants who attended were 34 MSMEs. The methods applied are lecture, tutorial and discussion methods. Before giving a lecture, participants are given pre-test questions first. The pre-test results showed that 80% of participants did not understand the preparation of financial reports both manually and online. At the end of the activity a post test was conducted, which showed that 82.79% of participants had understood the preparation of financial reports both manually and online. This means, there is an increase in the knowledge and understanding of participants from before training and after training.  Keywords: MSME, Financial Statements, Lamikro

scholarly journals Accounting conservatism and uncertainty in business environments; using financial data of listed companies in the Tehran stock exchange

2020 ◽  
Vol 5 (2) ◽  
pp. 179-194
Author(s):  
Marziyeh Hejranijamil ◽  
Afsane Hejranijamil ◽  
Javad Shekarkhah
Keyword(s):  
Financial Reporting ◽  
Business Strategy ◽  
Stock Exchange ◽  
Financial Statements ◽  
Accounting Conservatism ◽  
Financial Data ◽  
Financial Reports ◽  
Content Type ◽  
Business Environments ◽  
Natural Mechanism

PurposeApplying conservatism to the preparation of financial statements has been considered not only as a natural mechanism to protect the interests of the stockholders but also as a practical way to assist managers to deal with uncertainty in business environments. This study aimed to determine if increasing uncertainty can lead to raising the level of conservatism used in preparing financial statements. The result of the study could provide a better understanding of the factors that influence the level of applying conservative methods in accounting and financial reporting.Design/methodology/approachThe model introduced by Basu (1997) was used to measure accounting conservatism. Business strategy and alertness were considered as two proxies for classifying companies according to their level of uncertainty. By adding each proxy of uncertainty to the model and using the financial data of 183 companies for five years (from 2013 to 2018), the multiple regression models were estimated through EViews. It was assumed that inert companies and those with prospector strategy face a higher level of uncertainty. Consequently, they were expected to report their financial status conservatively.FindingsFindings revealed that companies, which adopted a prospector strategy, applied more conservative methods in their financial reports. This indicated that facing wider uncertainty results in reporting more conservatively, which could not be said about inert companies.Originality/valueThe current research is the first research undertaken in a developing country such as Iran, and the study's results may benefit other developing countries.

scholarly journals KARATERISTIK PEMBIAYAAN SYARIAH DAN KELEMBAGAAN USAHA TERHADAP PENGEMBANGAN USAHA MIKRO, KECIL DAN MENENGAH DI KOTA PADANG

2015 ◽  
Vol 4 (2) ◽  
pp. 89
Author(s):  
Neng Kamarni ◽  
Amra Ausri
Keyword(s):  
Significant Relationship ◽  
Small And Medium Enterprises ◽  
Descriptive Analysis ◽  
Financial Statements ◽  
Islamic Finance ◽  
Chi Square ◽  
Financial Reports ◽  
Chi Square Test ◽  
Quantitative Descriptive ◽  
Medium Enterprises

This research aimed to analyze the role of Islamic finance gained SMEs, institutional characteristics of the business and the characteristics of entrepreneurs to the development of Micro, Small, and Medium Enterprises in the city of Padang. The study design used descriptive approach qualitative and quantitative descriptive. Data were analyzed using analysis Crosstabulation and Chi-Square, a descriptive analysis technique.Crosstabulation based analysis and Chi-Square test, there is a significant relationship between the amount of financing, education, length of business, business development training, and the legality of the increase in revenue SMEs. While there was no significant relationship between the type of business and the ownership of the financial statements with a revenue increase of SMEs. SME revenue improvement opportunities are greatest in terms of the amount of financing. Of the 82% who obtain financing on Rp.5.000.000, 61% of SMEs could increase his income. The second biggest opportunities is occupied by SMEs that have financial statements, as many as 58% of the 84 respondents who had had financial reports may increase their income.Keyword : islamic finance, institutioal charateristics

scholarly journals ANALISIS TERHADAP IMPLEMENTASI STANDAR AKUNTANSI KEUANGAN UNTUK ENTITAS TANPA AKUNTABILITAS PUBLIK (SAK ETAP) PADA EMKM CV. M’ARS STUDIO

2019 ◽  
Vol 14 (3) ◽  
Author(s):  
Christian Jhon Mamengko ◽  
David Paul Elia Saerang ◽  
Lidia M. Mawikere
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Balance Sheet ◽  
Secondary Data ◽  
Financial Statements ◽  
Primary Data ◽  
Reporting Practices ◽  
Financial Position ◽  
Income Statement ◽  
Documentary Studies

One indicator that can be done to support the development of an increase in the national economy is through the Micro, Small and Medium Enterprises (EMKM). This study aims to find out about the implementation of financial reporting practices at CV. M’ars Studio, know the statement of financial position at the end of the period (balance sheet), find out the income statement during the period, knowing notes to financial statements during the period, based on EMKM SAK ETAP. The object of the research is the implementation of the EMKM Financial Accounting Standards CV. M’ars Studio. This type of research is qualitative and uses descriptive qualitative methods used in this study are primary data which is data obtained through interviews conducted by researchers on owners and administrators and through direct observation on CV. M’ars Studio besides that, secondary data obtained through evidence of library and documentary studies owned by CV. M’ars Studio. Secondary data obtained through evidence of library and documentary studies owned by CV. M’ars Studio. The results of this study indicate that there are several EMKM IFRS elements that have not been implemented by CV. M’ars Studio. Statement of financial position at the end of the period (balance sheet), which is still simple so the implementation is quite good, the income statement is almost in line with the standard so that the implementation made is good, and notes to financial statements at CV. M’ars Studio have not been implemented. There are major obstacles faced in implementing SAK EMKM, namely the lack of information to the entity regarding IFRDs that apply specifically to MSMEs.

scholarly journals Financial Accounting Standards for Micro, Small & Medium Entities (SAK EMKM) Implementation and Factors That Affect It

2018 ◽  
Vol 15 (2) ◽  
pp. 50
Author(s):  
Nur Diana Adhikara
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Fundamental Problem ◽  
Accounting Standards ◽  
Financial Statements ◽  
Educational Background ◽  
Financial Accounting ◽  
Accounting Standard ◽  
Level Of Understanding ◽  
Medium Enterprises

The low understanding of accounting and financial accounting standards is a fundamental problem for Micro, Small & Medium Enterprises (MSMEs) in Indonesia. This makes it difficult to prepare and manage financial statements. The presence of the Financial Accounting Standards for Non-Publicly-Accountable Entities (SAK-ETAP) on January 1, 2011, is expected to accommodate small and medium enterprises in making easy, transparent and accountable financial statements. But In fact, many MSMEs that have not been able to apply SAK ETAP properly because it is considered to be too complex and not by the financial reporting needs of MSMEs. On January 1, 2018, SAK EMKM was enacted as a standard that could help about 57.9 million MSME entrepreneurs in Indonesia in properly preparing their financial statements without having to get caught up in the complexity of it. SAK EMKM is a much simpler financial accounting standard than SAK ETAP. This study aims to provide empirical evidence on the perception of MSME business actors regarding the importance of financial bookkeeping and reporting for their business and the factors that affect the level of understanding of MSME’s related to SAK EMKM. The sample of research was MSMEs business actors in Malang Raya with purposive sampling method with the total of 225 respondents. The results showed that company size, educational background, and level of education affect the MSME business entrepreneurs' perception of the importance of financial bookkeeping and reporting. While the level of understanding of MSME business entrepreneurs of SAK EMKM is affected by the level of information on SAK EMKM, educational background and education level of the MSME business actors.

scholarly journals EMPLOYING FINANCIAL ACCOUNTING STANDARDS FOR ENTITIES WITHOUT PUBLIC ACCOUNTABILITY FOR AUDITING

2013 ◽  
Vol 3 (2) ◽  
Author(s):  
Akie Rusaktiva ◽  
Adri Putra Nugraha
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Accounting Standards ◽  
Secondary Data ◽  
Financial Accounting ◽  
Public Accountability ◽  
Financial Reports ◽  
The Difference ◽  
Small Medium Enterprises ◽  
Medium Enterprises

<p>Financial Accounting Standards for Entities Without Public Accountability (FAS-EWPA) is a financial accounting standards issued by The<em> </em><em>Indonesian Institute of Accountants</em> or <em>Ikatan Akuntan Indonesia</em> (IAI) and endorsed by the Financial Accounting Standards Board of Indonesian Accountants or <em>Dewan Standar Akuntansi Keuangan Ikatan Akuntan Indonesia </em>(DSAK IAI) and intended for small and medium enterprises. The underlying priciple of IAI in issuing this particular standards is the attempt to facilitate small and medium enterprises in arranging their financial reports. If this standard is not issued, they have to follow the new FAS (which is stage of adopting IFRS – full convergence 2012) to arrange their financial reports. The application of this FAS-EWPA based IFRS is relatively more complex and expensive for small and medium enterprises. FAS-EWPA adopted some parts of IFRS (International Financial Reporting Standards) for small-medium enterprises (IFRS for Small-Medium-sized Entities/SMEs). This study aims to describe the layout of the difference measurement, assessment, report and the implementation of auditing standards between FAS-IFRS and FAS-EWPA. This study employed descriptive qualitative technique of data analysis by reviewing literature and analysing the field concerning with the implementation of Financial Accounting Standards Statements (FASS) and FAS-EWPA. Specifically, the secondary data of this study are FAS-IFRS and FAS-EWPA. The findings shows that there is a difference presentation and disclosure of financial statements between entities which report using FAS-IFRS and FAS-EWPA. Therefore the perceived program and audit procedures will be different because it will be tailored to the presentation and objectives the audit, suppose that in the implementation of FASS and EWPA, there is a difference in the assertions about the disclosure/presentation. For other assertions about existence, completeness, rights and obligations as well as assessment and allocation, basically, between FASS and EWPA, they have a common concept. While in presentation assertions as has been described earlier, the FAS-EWPA has a simpler form than with FASS, therefore there is a definitely difference in terms of the presentation between the two.</p> <p><em> </em></p> <p><em> </em></p>

scholarly journals A critical analysis of the contents of the IFRS for SMEs - a South African perspective

2011 ◽  
Vol 14 (2) ◽  
pp. 188-209 ◽  
Author(s):  
Daniel Petrus Schutte ◽  
Pieter Buys
Keyword(s):  
South African ◽  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Financial Statements ◽  
Developed Countries ◽  
Financial Reporting Standards ◽  
Accounting Practitioners ◽  
African Perspective ◽  
Medium Enterprises ◽  
Different Levels

The International Financial Reporting Standards (IFRS) for Small and Medium Enterprises (SMEs) was developed to address the reporting needs of SMEs worldwide. Furthermore, SMEs from different parts of the world are exposed to different conditions and environments. Although the IFRS for SMEs was not intended for a specific user group,the majority of the respondents to the Exposure Draft on IFRS for SMEs were from Europe and other developed countries while only limited respondents from Africa and developing countries were involved.  This study considered the relevance of the contents of the IFRS for SMEs in the South African environment based on user requirements. Since SMEs do not necessarily have functional accounting departments and because they rely on external accountants to compile financial statements, we included accounting practitioners and trainee accountants from the SME sector in our survey. As a result we classified the contents of the IFRS for SMEs, from a South African perspective, into different levels of importance or relevance.

Penerapan Pengendalian Intern pada 13 UMKM di Bandung

2021 ◽  
Vol 10 (1) ◽  
pp. 33-44
Author(s):  
Samuel Wirawan ◽  
Hamfri Djajadikerta ◽  
Amelia Setiawan
Keyword(s):  
Financial Reporting ◽  
Internal Control ◽  
Small And Medium Enterprises ◽  
Internal Controls ◽  
Financial Reports ◽  
Study Approach ◽  
Main Activity ◽  
Medium Enterprises ◽  
The Cost

Micro, small and medium enterprises (MSMEs) as a business sector that supports the country's economy are required to have adequate internal controls to support the achievement of company goals. This research was conducted with a case study approach on culinary business. In general, the companies in this study have implemented adequate internal control components. In terms of achieving company goals, namely financial reporting, the MSMEs studied have made financial reports independently because they consider the cost factor when using expensive consultants and also most of the MSME actors already have accounting skills. However, for tax reports in general, make and reported with the help of consultants due to lack of tax regulations that often change. Regarding the achievement of operating objectives regarding the effectiveness and efficiency of operations, the MSMEs studied are still focused on production activities because production activities are the main activity to provide satisfaction to consumers by utilizing Standard Operating Procedures. Compliance with the applicable rules and laws of the 13 companies studied is varied because it depends on the presence of regulators and whether or not there are strict sanctions and involvement of related parties and bargaining power of stakeholders.Usaha mikro, kecil dan menengah (UMKM) sebagai suatu sektor usaha yang menunjang perekonomian negara dituntut untuk memiliki pengendalian intern yang memadai untuk menunjang pencapaian tujuan perusahaan. Penelitian ini dilakukan dengan melakukan pendekatan studi kasus pada UMKM yang bergerak di bidang usaha kuliner. Secara umum, perusahaan yang diteliti telah menerapkan komponen pengendalian intern yang secara memadai karena adanya keterlibatan pemilik secara langsung pada usaha tersebut. Dalam hal pencapaian tujuan perusahaan yaitu pelaporan keuangan, UMKM yang diteliti sudah membuat laporan keuangan secara mandiri karena mempertimbangkan faktor biaya jika menggunakan pihak konsultan yang mahal dan juga sebagian besar pelaku UMKM sudah memiliki kemampuan akuntansi. Namun untuk laporan pajak pada umumnya, UMKM yang diteliti membuat dan melaporkannya dengan bantuan konsultan karena mereka kurang memahami peraturan perpajakan yang seringkali berubah.  Terkait pencapaian tujuan operasi tentang efektivitas dan efisiensi operasi, UMKM yang diteliti masih berfokus pada aktivitas produksi karena aktivitas produksi merupakan aktivitas utama untuk memberikan kepuasan pada konsumen dengan memanfaatkan Prosedur Operasi Baku. Kepatuhan pada aturan dan hukum yang berlaku dari 13 perusahaan yang diteliti bersifat variatif karena tergantung dari adanya pihak regulator dan juga ada atau tidaknya sanksi yang tegas serta keterlibatan pihak – pihak terkait serta daya tawar dari para pemangku kepentingan.  

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