Analysis of the Application of Financial Accounting Standards of Small and Medium Entities (SAK EMKM) and Cooperatives in the Preparation of Financial Statements at Cooperative Saves and Loans in Bengkulu City

Abstract

The purpose of this study was to determine the application of financial accounting standards for micro, small and medium entities (SAK EMKM) and cooperatives in preparing financial statements at the Bengkulu City Joint Business Savings and Loan Cooperative. Data collection tools are carried out by means of documentation and unstructured interviews. The analytical method used is a comparative analysis comparing SAK EMKM and cooperatives will be compared with the application of accounting at the Joint Venture KSP Bengkulu City. Based on the results of research regarding the Analysis of the Application of Financial Accounting Standards for Micro, Small and Medium Entities (SAK EMKM) and Cooperatives in the Preparation of Financial Statements at the Bengkulu City Joint Business Savings and Loans Cooperative, it can be concluded that the implementation of SAK EMKM in the Joint Venture KSP has been going well because partly large in accordance with SAK EMKM. Meanwhile, there are two items that do not meet SAK EMKM, namely the notes on the financial statements because the Joint Venture KSP has not made notes on the financial statements and the income statement which does not include a tax expense account.

Effect of disclosure of public sector financial information on quality of financial reporting in public secondary schools in Kakamega County, Kenya

“…Disclosures may be simple statements regarding the change or provide a lengthy explanation for the reason to change the company's accounting policies and procedures (Sekiraqa, Ahmeti & Aliu, 2021). Voluntary disclosure in accounting is the provision of information by a company's management beyond requirements, such as generally accepted accounting principles and Securities and Exchange Commission rules, where the information is believed to be relevant to the decision making of users of the company's annual reports (Dwiantini, Susanti & Hidayah, 2021). Voluntary disclosure benefits investors, companies, and the economy; for example, it helps investors make better capital allocation decisions and lowers firms' cost of capital, the latter of which also benefits the general economy.…”

“…AQ represents the notion that investors and other capital providers should be provided with financial statements that are as useful as feasible in assisting them in making choices about the allocation of resources. Recent years have seen a significant increase in the number of worldwide research on AQ, which can be attributed to both the advancement of technology and the process of globalization (Dwiantini, Susanti & Hidayah, 2021). The conduct of international research on air quality is of the highest significance because it enables us to get an understanding of the influences of factors at the national level on international reporting standards (Falkman & Tagesson, 2018).…”

Readiness to Apply MSMEs Financial Accounting Standards in the Preparation of Financial Reports in UD. Sari Rama Bakery

“…Addicionally, financial statements were created by recording and summarizing financial transactions. Statements of financial status, an income statement, and other financial statements derived from SAK EMKM and the financial statements notes (Ardila et al, 2019 based financial accounting standards of Micro small entity (SAK EMKM) (Dwiantini et al, 2021). And also, The SMEs that committed the crimes practiced the act of creating financial statements based on commercial transactions that were connected with tax reporting (Rayyani et al, 2019).…”