Interpretation of Small and Medium Enterprises on EMKM Financial Accounting Standards

Isna Ardila, Triska Dara Hasanah

Abstract


SAK EMKM was prepared and approved by the Indonesian Institute of Accountants as a guideline for SMEs to be able to apply accounting records so as to provide convenience in preparing financial reports. The purpose of this study was to find out how the interpretation of Small and Medium Enterprises (SMEs) on the Financial Accounting Standards for Micro, Small and Medium Entities (SAK EMKM). This study used a descriptive method by conducting interviews and filling out questionnaires to 20 SMEs from various business sectors including trade, service and industry businesses located in Percut Sei Tuan-Batang Kuis District. The results of this study indicate that SMEs in Percut Sei Tuan-Batang Kuis District do not understand SAK EMKM as a guide for managing business finances to produce structured, relevant, reliable and understandable financial reports. Some MSMEs have managed finances regularly by keeping records or simple bookkeeping without preparing financial reports, and recording business finances is not based on SAK EMKM, and some do not keep financial records at all. Education, experience, and routine habits are factors that cause SMEs to not understand SAK EMKM.



Keywords


Enterprises, EMKM.

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References


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DOI: https://doi.org/10.30596/miceb.v1i0.165

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