Comparative Analysis of Financial Reporting of Selected Small and Medium Enterprises (Smes) in Baguio City: Basis for a Financial Planning Model

2021 ◽  
Vol 27 (3) ◽  
Keyword(s):  
Comparative Analysis ◽  
Financial Reporting ◽  
Financial Planning ◽  
Small And Medium Enterprises ◽  
Planning Model ◽  
Medium Enterprises

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 Impact of Accounting Software among SMEs Accountants in Oman

2020 ◽  
Vol 4 (2) ◽  
pp. 25-33 ◽  
Author(s):  
Mohammed Muneerali Thottoli
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Basic Knowledge ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Incorrect Choice ◽  
Financial Reporting Standards ◽  
Accounting Software ◽  
Medium Enterprises ◽  
The Impact

Financial losses, bankruptcy and closure of the company may be the result of incorrect choice of accounting software, inefficient modernization of such software depending on the specifics of the economic entity and ignorance of technical knowledge of staffs to work with the software product. The paper notes that for companies from member countries of the Gulf Cooperation Council, the technique of implementation and application of tax legislation and International Financial Reporting Standards (IFRS) differs significantly from other countries. The article emphasizes that in Oman, companies need to prepare financial statements in accordance with current applicable IFRS, as well as the Law on Commercial Companies 2019 and the guidelines and requirements for disclosure of capital market information. The purpose of this paper is to study and study the impact of the implementation of accounting software among small and medium enterprises (SMEs) in Oman. The study systematizes the features and issues of assessing the relationship between generalized accounting software (GAS) and its use by accountants working for SMEs. Twenty small and medium business accountants were selected as the target audience, taking into account their experience and basic knowledge of accounting in the context of ownership and use of GAS. The study confirms and theoretically proves that the use of GAS in the financial and economic activities of SMEs has a significant impact on the practice of accountants working in such enterprises, ie, there is a positive and significant relationship between GAS choice and use of GAS by SME accountants. The results of this study can be useful for the government, representatives of tax authorities, higher education institutions in the context of establishing adequate policies regarding the use of software for accounting by economic entities. Keywords: Generalized accounting software, accounting, accountant, small and medium enterprises, international financial reporting standards (IFRS), Oman.

scholarly journals Innovative Activity of Small and Medium- Sized Enterprises

2021 ◽  
Vol 27 (4) ◽  
pp. 580-608
Keyword(s):  
Comparative Analysis ◽  
Small And Medium Enterprises ◽  
Added Value ◽  
Innovation Activity ◽  
Processing Industry ◽  
Innovative Performance ◽  
Secondary Information ◽  
Medium Enterprises ◽  
Published Research ◽  
Stimulation Of

The importance of small and medium enterprises (SMEs) for the economy of our country is constantly growing. In 2018, they made up 99.8% of the enterprises in the country. They employ 75.7% of all employees in the economy and they provide 65.3% of the country‘s added value. The innovation activity of SMEs largely determines the overall innovative performance of our country, and therefore the pace of its development. It is increasingly realized that the stimulation of innovation in SMEs is an important mechanism for achieving competitiveness and economic success not only of individual enterprises but also of our country as a whole. Given this, the first purpose of this study is to perform a comparative analysis of the innovation activity of Bulgarian SMEs compared to the other EU countries and to determine the main areas of achievement and lag. The comparative analysis was performed on the basis of data from official national, European and world sources, as well as from published research results on this issue. The second purpose is to present the results of an empirical study of the innovation activity of a sample of Bulgarian SMEs, conducted by the authors. The survey covers 100 micro, small and medium-sized enterprises from different sectors of the processing industry and its purpose is to check, supplement and clarify secondary information studied for the first stage.

scholarly journals THE ACCOUNTING STANDARDS AND FINANCIAL REPORTING IN ALBANIA

2016 ◽  
Vol 4 ◽  
pp. 092-097
Author(s):  
Rezarta Shkurti ◽  
Brunilda Duraj
Keyword(s):  
Financial Reporting ◽  
Small And Medium Enterprises ◽  
Accounting Standards ◽  
Current Status ◽  
International Accounting Standards ◽  
Accounting Standard ◽  
Non Profit ◽  
National Accounting ◽  
Financial Reporting Standards ◽  
Medium Enterprises

Albania implemented its first set of 14 National Accounting Standards (NAS), which were prepared in compliance with the International Financial Reporting Standards, in 2009. The 15th standard, specifically the Accounting Standard for financial reporting by micro-entities, was added to this set in 2011 and a 16th standard, relating to the reporting for non-profit enterprises, was added in 2015. In 2014, the National Accounting Council of Albania (NACA) performed a major revision of this existing framework of NAS. The focus of this paper is to analyze the current status, as well as the development of accounting and financial reporting in Albania for the Small and Medium Enterprises (SMEs). An international standard of financial reporting for SMEs was issued by the International Accounting Standards Board but was not fully endorsed by the European Community, nor by the NACA, who instead chose to revise their current NAS. In this study, we provide a general overview of the accounting regime and platforms currently applied in Albania, by focusing on the changes over the recent years. We also depict the main differences between the IFRS for SMEs and the NAS in Albania in treatment of several elements of the financial statements.

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 SOME ASPECTS OF COMPARATIVE ANALYSIS OF SME STANDARDS IN THE EU AND GEORGIA

2020 ◽  
Vol 15 (20) ◽  
pp. 113-118
Author(s):  
Natia Kurdgelia
Keyword(s):  
Comparative Analysis ◽  
Small Business ◽  
Small Businesses ◽  
Small And Medium Enterprises ◽  
Business Sector ◽  
Definition Of ◽  
Medium Enterprises ◽  
Annual Balance ◽  
Annual Turnover ◽  
The Eu

There are different attitudes towards small business definition. Basically, the laws of the countries are based on the criteria on the basis of which this or that enterprise belongs to the small business sector. However, in EU countries, small and medium enterprises are considered as small businesses and they are considered in one context. The concept of small and medium business combines number of employees, annual turnover and annual balance. The official definition of small and medium enterprises in Georgia is partially in line with EU standards. The concepts of small business and micro business are established only in terms of tax policy, while in institutional and quantitative or qualitative terms its definition is not officially definite.

scholarly journals Sistem Integrasi Proteksi & Manajemen Resiko Platform Fintech peer to peer (P2P) Lending dan Payment Gateway untuk Meningkatkan Akslerasi Pertumbuhan UMKM 3.0

2019 ◽  
Vol 2 (1) ◽  
pp. 73
Author(s):  
Yulianti Manan
Keyword(s):  
Financial Reporting ◽  
Financial Services ◽  
Gap Analysis ◽  
Small And Medium Enterprises ◽  
Governance System ◽  
P2p Lending ◽  
The Government ◽  
Model Platform ◽  
Medium Enterprises ◽  
Payment Gateway

The MSMEs (Micro, Small and Medium Enterprises) mentioned by the government as the backbone of the Indonesian economy are also still many that have not been touched by financial services or are unbankable. Currently in line with the development of information technology in financial services, the Fintech P2P lending ecosystem and payment gateways are growing rapidly and become one of the cash less payment options, an alternative option for new types of financing due to multi-advantages; fast, collateral-free and technology-based process which is a culture of supporting MSME generation to 3.0. The Fintech P2P Lending and Payment gateway business that is oriented towards IT Base financial reporting still requires a risk management and governance system to reduce and minimize the risk of fraud, bankruptcy, default and other risks. The purpose of this research is to analyze and study innovative solutions to the Fintech business model platform related to protection system management by establishing a central and strategic role between the regulator and Fintech providers. This research uses descriptive research design by using GAP Analysis to research and develop and collaborate on innovation, especially in Fintech business operating systems.

scholarly journals MODEL ARISAN MODAL USAHA DALAM MENDUKUNG KEBERLANJUTAN PENGUSAHA KECIL DI PASAR UNIT II KABUPATEN TULANG BAWANG LAMPUNG

2018 ◽  
Vol 14 (2) ◽  
pp. 171-181
Author(s):  
Amarul Amarul ◽  
Achmad Hatta
Keyword(s):  
Comparative Analysis ◽  
Small And Medium Enterprises ◽  
Business Continuity ◽  
Comparative Approach ◽  
Research Methodologies ◽  
Rate Of Development ◽  
Specific Hypothesis ◽  
Before And After ◽  
Medium Enterprises ◽  
The Relationship

This study aims to analyze the business capital arisan model for small and medium entrepreneurs and the rate of development of small and medium enterprises in Pasar Unit II Kabupaten Tulang Bawang Lampung. The approach used in this study is to use a comparative approach, Ie research methodologies that attempt to quantify the data, and usually apply certain statistical analyzes. The process of collecting data by using questionnaires as a means of collecting data. Then tested the specific hypothesis to know either the relationship or influence significance. By comparative analysis or comparison, it is obtained the result of different test of business continuity before and after follow the arisan. This shows that arisan activities are very helpful as additional capital in the sustainability of their business. Penelitian ini bertujuan untuk menganalisis penerapan model arisan modal usaha bagi pengusaha kecil menegah dan laju perkembangan usaha kecil menengah di Pasar Unit II  Kabupaten Tulang Bawang Lampung. Pendekatan yang digunakan dalam penelitian ini adalah dengan menggunakan pendekatan komparatif, yaitu metodologi riset yang berupaya untuk mengkuantifikasi data, dan biasanya menerapkan analisis statistik tertentu. Proses pengumpulan data dengan menggunakan kuesioner sebagai alat pengumpul datanya.  Kemudian dilakukan pengujian hipotesis secara spesifik untuk mengetahui baik hubungan atau pengaruh signifikansinya. Dengan analisis komparatif atau perbandingan maka diperoleh hasil analisis uji beda keberlanjutan usaha sebelum dan sesudah mengikuti arisan terdapat perbedaan yang signifikan keberlanjutan usaha sebelum dan setelah mengikuti arisan. Ini menunjukkan bahwa kegiatan arisan sangat membantu sebagai tambahan modal dalam keberlanjutan usahanya.

scholarly journals The importance of record keeping to the growth of small and medium scale enterprises (SMEs) in Zimbabwe

2015 ◽  
Vol 12 (4) ◽  
pp. 744-754 ◽  
Author(s):  
Ongayi Vongai Wadesango
Keyword(s):  
Financial Reporting ◽  
Financial Management ◽  
Survey Design ◽  
Small And Medium Enterprises ◽  
Management Skills ◽  
Social Scientists ◽  
Accounting Systems ◽  
Record Keeping ◽  
Medium Enterprises ◽  
Descriptive Survey

This study sought to investigate the influence quality financial reporting systems have on the performance of small and medium enterprises. Descriptive survey design was employed. The sample size was 100 SMEs, selected using stratified random sampling. Data were collected using a questionnaire and an observation list. Data collected using questionnaire were analyzed using Statistical Package for the Social Scientists (SPSS). The study found an absence of formal accounting systems in many firms due to lack of financial and accounting knowledge among the owner‐managers. It is recommended that financial institutions and policy makers need to focus on educating such owner‐managers with necessary accounting and financial management skills.

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