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Abstract
In Yogyakarta, the Micro, Small, and Medium Enterprises (MSME) have not been able to develop because they cannot access the capital provided by the banks. It happened due to the inability of the MSMEs to prepare the standardized financial reports. This study aimed to determine how to prepare the financial report according to the financial accounting Standards for Mico, Small, and Medium-Sized Entities at Micro, Small, and Medium Enterprises Batik Jumputan Ibu Sejahtera. The study employed the qualitative research method with a descriptive approach. The data analysis included 1) data collection, conducted through an interview, observation, documentation technique, 2) data reduction, 3) data presentation, and 4) conclusion or verification. The data were validated using the triangulation validity technique. The result showed that the financial reports prepared by the MSME Batik Jumputan Ibu Sejahter’s had not followed the Financial Accounting Standards for Micro, Small, and Medium-Sized Entities. The entity’s transaction recording system is less sophisticated, in that it only contains information about cash in and cash out. The managers’ lack of ability and understanding became the key factor influencing the quality of the financial report. After the researcher rearranged the financial statement according to the rules, it was found that the total asset owned by the entity was Rp109,531,936, total liabilities Rp3,160,000, and the total equity Rp106,371,936. The net profit acquired by the entity reached Rp81,083,534. The reports showed that Batik Jumputan Ibu Sejahtera was categorized as a micro-enterprise by the MSME criteria mentioned in the Law of the Republic of Indonesia Number 20 of 2008.
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References
- Achmad, C. S. (2017). Marketing Communication Strategy of the Jumuptan Ibu Sejahtera Paguyuban Batik in Increasing Sales in the City of Yogyakarta. http://repo.apmd.ac.id/id/eprint/125. Accesed on June 3, 2020
- Aprita. A. 2019. 9-13 October, the Indonesian Ministry of Industry will Hold a Batik Exhibition at JEC. https://jogja.tribunnews.com/2019/10/02/9-13-oktober-kemenperin-ri-akan-gelar-pestival- batik-di-jec. Accessed on March 2, 2020.
- Arikunto. S. (2013). Research Procedures. A Practice Approach. Jakarta: Rineka Cipta. Bahri. S. (2016). Introduction to Accounting Based on SAK ETAP and IRFS, Yogyakarta; CV
- Andi.
- Dian. M (2016). Jumputan Batik, Modern Innovation of Indonesian Batik Fabrics. https://www.fimela.com/lifestyle-relationship/read/3513672/batik-jumputan-inovasi- modern-cloth-batik-indonesia. Accesed on March 20, 2020.
- Indonesian Accountants Association. (2009). Financial Accounting Standards for Entities without Public Accountability. Jakarta: Indonesian Financial Accounting Standards Board.
- Indonesian Accountants Association. (2018). Financial Accounting Standards for Micro, Small, and Menenhgah Entities. Jakarta: Indonesian Financial Accounting Standards Board
- Indriantoro, N., & Supomo, B. (2016). Business Research Methodology for Accounting & Management. Yogyakarta: BPFE-Yogyakarta.
- Ismiyanto. A. 2019. DIY UKM Grows 2 Percent Per Year .https://jogja.tribunnews.com/2019/10/11/ukm-diy-tumbuh-2-persen-per-tahun. Accesed on June 7, 2020.
- Jumingan. (2006). Financial Report Analysis. Jakarta: Earth Literacy.
- Kristanto. E (2011). The application of financial standards for entities without public accountability is taking place in rattan craftsmen in Trangsan village, Gatak sub-district, Sukoharjo district. https://eprints.uns.ac.id/9560/. Accessed on October 17, 2019.
- Moleong, J. Lexy. (2018). Qualitative Research Methodology. Bandung: Youth Rosdakarya.
- Ningtyas, J. (2017). Preparation of MSME Accounting Reports Based on Accounting Standards Micro, Small and Medium Entities Finance (SAK-EMKM) case study at UMKM Bintang Malam Pekalongan. Owner Research and Accounting Journal, 2 (1), 11-17
- Nurlaila. (2018). Application of financial accounting standards for micro, small and medium enterprises at Sukma Cipta Ceramic Dinoyo Malang. http://etheses.uin-malang.ac.id/id/eprint/10273. Accessed on June 2, 2020
- Pangesti, W., Permata, F. P., Abdillah, M., & Yunianti, L. N. (2017). Comparison of PSAK, SAK ETAP, and SAK EMKM. https://docplayer.info/70974045-Perbarison-psak-sak-etap- dan-sak-emkm.html. Accesed on October 30, 2019.
- Indonesian government. (2008). Law Number 20 of 2008 concerning Micro, Small and Medium Enterprises. Jakarta, Indonesia.
- Indonesian government. (2018). Government Regulation of the Republic of Indonesia Number 23 of 2008 concerning Income Tax on Income from Businesses Received or Earned by Taxpayers Who Have Certain Gross Circulation. Jakarta, Indonesia.
- Rahardiansyah, R. (2018). Application of Financial Accounting Standards for Micro, Small and Medium Entities (SAK-EMKM) on Kripik Tempe Rohani Sanan Malang City. http://etheses.uin-malang.ac.id/11773/. Accessed on November 20, 2019.
- WE Online Editor. 2019. MSMEs Play an Important Role for the Indonesian Economy https://republika.co.id/berita/pvrzay17000/umkm-punya-peran-penting-bagi- economy-Indonesia. Accessed on November 19, 2019.
- Rudianto. (2012). Concepts & Techniques for Preparing Financial Statements; IFRS Adaptation. Jakarta: Erlangga.
- Sugiyono. (2016). Qualitative Research Methods, Quantitative, and R&B. Bandung: Alfabeta.
- Suryo. A. (2006). Accounting for SMEs. Yogyakarta: Media Pressindo.
- Suwardjono. (2014). Financial Reporting Engineering Accounting Theory (Edition 3). Yogyakarta: BPFE Yogyakarta.
- Tatik. (2018). Implementation of SAK EMKM (Financial Accounting Standards for Micro, Small, and Medium Entities) on MSME Financial Reports (Case Study at UMKM XYZ Yogyakarta). Journal of Economics, 14 (2), 1-14.
- Jogja Monument. 2018. Thousands of MSMEs in Yogyakarta have difficulty advancing to class.
- https://kumparan.com/ tugujogja/thousands-umkm-in-yogyakarta-kes] -aik-class. Accessed on October 17, 2019.
References
Achmad, C. S. (2017). Marketing Communication Strategy of the Jumuptan Ibu Sejahtera Paguyuban Batik in Increasing Sales in the City of Yogyakarta. http://repo.apmd.ac.id/id/eprint/125. Accesed on June 3, 2020
Aprita. A. 2019. 9-13 October, the Indonesian Ministry of Industry will Hold a Batik Exhibition at JEC. https://jogja.tribunnews.com/2019/10/02/9-13-oktober-kemenperin-ri-akan-gelar-pestival- batik-di-jec. Accessed on March 2, 2020.
Arikunto. S. (2013). Research Procedures. A Practice Approach. Jakarta: Rineka Cipta. Bahri. S. (2016). Introduction to Accounting Based on SAK ETAP and IRFS, Yogyakarta; CV
Andi.
Dian. M (2016). Jumputan Batik, Modern Innovation of Indonesian Batik Fabrics. https://www.fimela.com/lifestyle-relationship/read/3513672/batik-jumputan-inovasi- modern-cloth-batik-indonesia. Accesed on March 20, 2020.
Indonesian Accountants Association. (2009). Financial Accounting Standards for Entities without Public Accountability. Jakarta: Indonesian Financial Accounting Standards Board.
Indonesian Accountants Association. (2018). Financial Accounting Standards for Micro, Small, and Menenhgah Entities. Jakarta: Indonesian Financial Accounting Standards Board
Indriantoro, N., & Supomo, B. (2016). Business Research Methodology for Accounting & Management. Yogyakarta: BPFE-Yogyakarta.
Ismiyanto. A. 2019. DIY UKM Grows 2 Percent Per Year .https://jogja.tribunnews.com/2019/10/11/ukm-diy-tumbuh-2-persen-per-tahun. Accesed on June 7, 2020.
Jumingan. (2006). Financial Report Analysis. Jakarta: Earth Literacy.
Kristanto. E (2011). The application of financial standards for entities without public accountability is taking place in rattan craftsmen in Trangsan village, Gatak sub-district, Sukoharjo district. https://eprints.uns.ac.id/9560/. Accessed on October 17, 2019.
Moleong, J. Lexy. (2018). Qualitative Research Methodology. Bandung: Youth Rosdakarya.
Ningtyas, J. (2017). Preparation of MSME Accounting Reports Based on Accounting Standards Micro, Small and Medium Entities Finance (SAK-EMKM) case study at UMKM Bintang Malam Pekalongan. Owner Research and Accounting Journal, 2 (1), 11-17
Nurlaila. (2018). Application of financial accounting standards for micro, small and medium enterprises at Sukma Cipta Ceramic Dinoyo Malang. http://etheses.uin-malang.ac.id/id/eprint/10273. Accessed on June 2, 2020
Pangesti, W., Permata, F. P., Abdillah, M., & Yunianti, L. N. (2017). Comparison of PSAK, SAK ETAP, and SAK EMKM. https://docplayer.info/70974045-Perbarison-psak-sak-etap- dan-sak-emkm.html. Accesed on October 30, 2019.
Indonesian government. (2008). Law Number 20 of 2008 concerning Micro, Small and Medium Enterprises. Jakarta, Indonesia.
Indonesian government. (2018). Government Regulation of the Republic of Indonesia Number 23 of 2008 concerning Income Tax on Income from Businesses Received or Earned by Taxpayers Who Have Certain Gross Circulation. Jakarta, Indonesia.
Rahardiansyah, R. (2018). Application of Financial Accounting Standards for Micro, Small and Medium Entities (SAK-EMKM) on Kripik Tempe Rohani Sanan Malang City. http://etheses.uin-malang.ac.id/11773/. Accessed on November 20, 2019.
WE Online Editor. 2019. MSMEs Play an Important Role for the Indonesian Economy https://republika.co.id/berita/pvrzay17000/umkm-punya-peran-penting-bagi- economy-Indonesia. Accessed on November 19, 2019.
Rudianto. (2012). Concepts & Techniques for Preparing Financial Statements; IFRS Adaptation. Jakarta: Erlangga.
Sugiyono. (2016). Qualitative Research Methods, Quantitative, and R&B. Bandung: Alfabeta.
Suryo. A. (2006). Accounting for SMEs. Yogyakarta: Media Pressindo.
Suwardjono. (2014). Financial Reporting Engineering Accounting Theory (Edition 3). Yogyakarta: BPFE Yogyakarta.
Tatik. (2018). Implementation of SAK EMKM (Financial Accounting Standards for Micro, Small, and Medium Entities) on MSME Financial Reports (Case Study at UMKM XYZ Yogyakarta). Journal of Economics, 14 (2), 1-14.
Jogja Monument. 2018. Thousands of MSMEs in Yogyakarta have difficulty advancing to class.
https://kumparan.com/ tugujogja/thousands-umkm-in-yogyakarta-kes] -aik-class. Accessed on October 17, 2019.