Implementation of Indonesian Financial Accounting Standards for Private Entities (SAK EP) on XYZ Foundation
Abstract
This study aims to analyse the impact of implementing SAK EP on the financial statements of Foundation XYZ and identify challenges during the process. Data were collected through documentation and semi-structured interviews with the foundation's financial staff. With qualitative method and case study approach, the findings reveal significant changes in financial reporting, including changes on naming for financial statement, classification of accounts, use of one comprehensive income statement approach, and make Notes to the Financial Statement according to SAK EP. Key challenges include limited understanding of SAK EP and the inadequacy of the accounting system used. This research can be a learning material to make it easier for other foundations to understand the practical application of SAK EP in foundations.
Keywords: Challenges; Financial Statement; Foundation; SAK EP; Impact
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References
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Wandini, N. W. Z. P., & Budiasih, I. G. A. N. (2017). Pengaruh tingkat pendidikan, pengalaman, dan pemanfaatan teknologi informasi akuntansi pada penerapan SAK ETAP. E-Jurnal Akuntansi Universitas Udayana, 21(3), 2108–2133.
Yin, R. , K. (2018). Case study research and applications: Design and methods (Sixth Edition). SAGE Publications, Inc.
Zasadnyi, & Kardash, V. V. (2023). Features of application of IFRS for small enterprises in ukraine. Theoretical and Applied Issues of Economics, 47(7), 74–83. https://doi.org/10.17721/tppe.2023.47.7
Bastian, I., Winardi, R. D., & Fatmawati, D. (2018). Metoda wawancara. Metoda pengumpulan dan teknik analisis data.
Creswell, J. W. (2018). Qualitative inquiry & research design: choosing among five approaches (Fourth). SAGE Publications, Inc.
Ebaid, I. E.-S. (2021). Benefits and challenges of the implementing IFRS for SMEs: descriptive evidence from Saudi Arabia. International Journal of Economics and Financial Issues, 2(1–2), 31–50. www.arfjournals.com
Frilisia, F., & Wirajaya, I. G. A. (2018). Penerapan Standar Akuntansi Keuangan Entitas Tanpa Akuntabilitas Publik (SAK ETAP) Pada PT. Aira Nusantara Indah. E-Jurnal Akuntansi Universitas Udayana, 23(1), 787–812. https://doi.org/10.24843/eja.2018.v23.i01.p30
Galindo, R. R., Yasnó-Triana, C., Ultreras-Rodríguez, A., Nieves-Lizárraga, D., Osuna-Velarde, D., Chávez-Hernández, A., Campos-Sánchez, S., Salazar-Moran, A., Espinoza-Vásquez, G., Rengifo-Lozano, R., Moreira-Cantos, P. S., Fuentes-Rosas, L., & Rincón-Guio, C. (2024). Enhancing financial transparency in non-profit organisations: Challenges and integration of IFRS for SMEs, IFR4NPO, and GRI standards. Journal of Infrastructure, Policy and Development, 8(11). https://doi.org/10.24294/jipd.v8i11.7988
Gonçalves, F. J. A., De Moura, A. A. F., & Motoki, F. Y. S. (2022). What influences the implementation of IFRS for SMEs? The Brazilian case. Accounting and Finance, 62(2), 2947–2992. https://doi.org/10.1111/acfi.12917
Hellman, N., Nilsson, H., Tylaite, M., & Vural, D. (2022). The Impact of an IFRS for SMEs-based standard on Financial Reporting properties and cost of debt financing: Evidence from Swedish private firms. European Accounting Review, 31(5), 1175–1205. https://doi.org/10.1080/09638180.2022.2085758
Ibrokhimovich, X. (2024). Advancing accounting practices for training services in public sector educational institutions. World Journal of Advanced Research and Reviews, 23(2), 1699–1702. https://doi.org/10.30574/wjarr.2024.23.2.2504
Ifada, L. M., Anik, S., Sukesti, F., & Asri, A. S. (2022). Implementing SAK ETAP on the quality of SMEs Financial Reporting. Jurnal ASET (Akuntansi Riset), 14(2), 313–324. https://doi.org/10.17509/jurnal
Ikatan Akuntan Indonesia. (2009). Standar Akuntansi Keuangan Entitas Tanpa Akuntabilitas Publik. https://mobile-api.iaiglobal.or.id/Portal/list_content/cmhXcEZtSGZzdTlRc0UxYXlLQW0wUT09
Ikatan Akuntan Indonesia. (2017). Discussion paper reviu komprehensif atas SAK ETAP.
Ikatan Akuntan Indonesia. (2019). Interpretasi Standar Akuntansi 335 penyajian Laporan Keuangan entitas berorientasi nonlaba. https://mobile-api.iaiglobal.or.id/Portal/list_content/
Ikatan Akuntansi Indonesia. (2021). Standar Akuntansi Keuangan Indonesia untuk Entitas Privat. https://mobile-api.iaiglobal.or.id/Portal/list_content/VXAyclg3SEZwN0JpZmRTU0Q5ZFFmQT09
International Accounting Standards Board. (2015). International financial reporting standard for small and medium-sized entities: IFRS for SMEs. International Accounting Standards Board. https://www.ifrs.org/issued-standards/ifrs-for-smes/view-ifrs-smes.html/content/dam/ifrs/publikations/html-standards/english/2021/required/sme/
Maulana, J., Marismiati, & Wirakanda, G. G. (2023). Analisis penerapan SAK Entitas Privat (SAK EP) pada Laporan Keuangan Koperasi XYZ. Logistics and Accounting Development Journal, 4(2), 101–107. https://doi.org/10.47491/landjournal.v4i1
Mawutor, J. K. M., Wlliams, S., & Oduwaa, M. A. (2019). Assessment of the adoption and implementation of IFRS for Small and Medium Scale Entities (SMEs). “A study of selected SMEs GA East of Ghana.” Asian Journal of Finance & Accounting, 11(1), 241–258. https://doi.org/10.5296/ajfa.v11i1.14678
Olena, P., & Bilous, V. (2024). Use of IFRS by small business: implementation features and problem aspects. Bulletin of Khmelnytskyi National University, 326(1), 267–273. https://doi.org/10.31891/2307-5740-2024-326-42
Putri, R. A., & Nugroho, P. I. (2020). SAK-EMKM implementation of medium enterprise Financial Statement in Salatiga. International Journal of Social Science and Business, 4(2), 242–250. https://ejournal.undiksha.ac.id/index.php/IJSSB/index
Rudzani, S., & Charles, M. D. (2016). An assessment of the challenges of adopting and implementing IFRS for SMEs in South Africa. Problems and Perspectives in Management, 14(2), 212–221. https://doi.org/10.21511/ppm.14(2-1).2016.10
Sappor, P., Atta Sarpong, F., & Ahmed Seidu Seini, R. (2023). The adoption of IFRS for SMEs in the northern sector of Ghana: A case of structural equation modeling. Cogent Business and Management, 10(1). https://doi.org/10.1080/23311975.2023.2180840
Saputri, A. E., Yuliarti, N. C., & Suharsono, R. S. (2022). Evaluasi perubahan SAK ETAP ke SAK EP terhadap Laporan Keuangan pada Koperasi Bhakti Karya di perkebunan Sentool, Kota Jember. Jurnal Mahasiswa Entrepreneur, 1(11), 2271–2279.
Sassi, N., & Ayadi, S. D. (2023). IFRS for SMEs adoption, corporate governance, and quality of Financial Statements: Evidence from Dominican Republic and El Salvador. Journal of Accounting in Emerging Economies, 13(5), 922–946. https://doi.org/10.1108/JAEE-10-2021-0348
Saunders, M. N. K., Lewis, P., & Thornhill, A. (2019). Research methods for business students (8th ed.). Pearson. www.pearson.com/uk
Undang-Undang Republik Indonesia Nomor 16 Tahun 2001 Tentang Yayasan (2001).
Wandini, N. W. Z. P., & Budiasih, I. G. A. N. (2017). Pengaruh tingkat pendidikan, pengalaman, dan pemanfaatan teknologi informasi akuntansi pada penerapan SAK ETAP. E-Jurnal Akuntansi Universitas Udayana, 21(3), 2108–2133.
Yin, R. , K. (2018). Case study research and applications: Design and methods (Sixth Edition). SAGE Publications, Inc.
Zasadnyi, & Kardash, V. V. (2023). Features of application of IFRS for small enterprises in ukraine. Theoretical and Applied Issues of Economics, 47(7), 74–83. https://doi.org/10.17721/tppe.2023.47.7
Published
2025-01-06
How to Cite
NIKOMARU, Fauzano; FATIMA, Eliza.
Implementation of Indonesian Financial Accounting Standards for Private Entities (SAK EP) on XYZ Foundation.
E-Jurnal Akuntansi, [S.l.], v. 35, n. 3, jan. 2025.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/122359>. Date accessed: 26 apr. 2025.
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