Transekonomika: Akuntansi.
Bisnis dan Keuangan https://transpublika.
id/ojs/index.
php/Transekonomika Online ISSN 2809-6851 | Print ISSN 2809-7866 Implementation of Accounting Standards for Non-Public Entities in Cooperative Financial Reporting Original Article https://doi.
org/10.
55047/transekonomika.
Alfian Mirza Syabani1*.
Siti Kustinah2 1,2Accounting Study Program.
Faculty of Economics and Business.
Universitas Jenderal Achmad Yani.
Cimahi.
Indonesia Email: .
tegal19@gmail.
com, .
sitikustinah@ak.
Received: 07 August - 2025 Accepted: 30 September - 2025 Published online: 13 October - 2025 Abstract The application of Financial Accounting Standards for Entities Without Public Accountability (SAK ETAP) in the financial statements of the Civil Servants Cooperative of West Java Province (Kp West Jav.
is essential to reflect accountability in managing the cooperative so that stakeholders can understand its financial condition.
The primary objective of this research is to evaluate the suitability of adopting the SAK ETAP standards for the preparation of financial statements by Kp West Java.
The approach employed for this study is descriptive qualitative, involving the collection of data through interviews, observations, document analysis, and literature The information gathered from interviews and observations was systematically analyzed and compared to determine the compliance of the 2024 and 2023 financial statements of Kp West Java with the SAK ETAP The results found that the application of SAK ETAP was substantial deviation, accompanied by explanations of the deficiencies and suggestions for improvements in the financial statement presentation.
The conclusion drawn is that the implementation of SAK ETAP in the financial statements of Kp West Java is not yet appropriate, as it does not meet the minimum information requirements needed to fulfill the principles of transparency and accountability.
Therefore, the recommended improvements are expected to assist Kp West Java in preparing future financial statements in strict adherence to SAK ETAP, thereby enhancing transparency and stakeholder confidence.
Keywords: Accountability.
Cooperative.
Financial Accounting Standards.
Financial Statements.
Transparency.
Introduction The Civil Servants Cooperative of West Java Province .
lso known as Kp West Jav.
is a consumer cooperative consisting of employees working in the West Java Provincial Government Office Complex at Gedung Sate.
In its annual financial accountability, the Cooperative issues an annual accountability report containing financial statements, achievements of the current year's work program, plans for next year's work program, and a supervisory report (Amtiran, 2019.
Brennan, 2020.
Haustein, 2.
According to Fauziyah & Kustinah .
, for a business to achieve sustainable growth, it must increase its profits.
the higher the profit generated, the greater the incentive to disclose the companyAos financial Kp West Java involves many parties, such as members, management, supervisors, provincial government officials, and employees who are the main stakeholders.
stakeholders and users of the cooperativeAos services, the authors have the right to know the cooperativeAos financial condition (Haustein, 2023.
Mardi, 2.
Therefore, the authors consider it important that Indonesian Accounting Standard for Non-Publicly-Accountable Copyright: A 2025 by the authors.
This is an open access article distributed under the terms and conditions of the CC BY 4.
Alfian Mirza Syabani et al.
| Volume 5 No.
Entities .
SAK ETAP) is applied correctly so that the resulting financial statements reflect accountability (Suryanto, 2.
As highlighted by Rahayu and Hartikayanti .
, good financial management will lead an organization or institution to achieve common goals.
every financial decision and activity must consider the interests of all involved parties, including shareholders, employees, consumers, and the public.
From an in-depth review and observation of the 2023 and 2024 annual accountability reports, especially regarding the presentation of financial statements, the cooperative only presents the Balance Sheet.
Statement of Business Results/Profit and Loss, and less detailed Notes to the Financial Statements (Eriadi, 2018.
Haustein, 2023.
Ismajli, 2.
Meanwhile, based on initial interviews with the cooperative manager, the preparation of the CooperativeAos financial statements has followed SAK ETAP because the cooperative was audited for its 2021 financial statements by the Public Accounting Firm .
r KAP) Chris Hermawan, and after the audit that year, the Cooperative has tried to adjust its subsequent financial reports according to SAK ETAP provisions.
However, there are still differences between the information provided and the available Previous research by Alfikri et al.
and Fitriah and Hidayati .
on MSMEs and credit unions reveals a common gap between SAK ETAP requirements and practical compliance, often resulting in incomplete statements and misclassifications.
Simarmata and Afriani .
quantitatively established that SAK ETAP application significantly enhances financial report quality, while Karimah .
linked non-standard reporting to a loss of utility for decision-making.
Hadisantoso et al.
specifically identified similar SAK ETAP non-compliances within cooperatives.
This challenge in achieving full financial reporting compliance is not unique to Indonesia.
Globally, cooperative reporting standards are continually evolving.
National initiatives like Malaysia's Cooperative Policy 2030 (Ghani, 2.
specifically target improved financial reporting quality to enhance cooperatives' socio-economic role.
Nevertheless, a distinct gap exists in research focused on civil servant cooperatives like Kp West Java, which operate in a unique context.
As such, analyzing the implementation of SAK ETAP in its financial statements is important.
This analysis is not only aimed at describing the presentation of financial statements to comply with SAK ETAP but also at providing constructive recommendations so that the Cooperative can better align its financial statement presentation with SAK ETAP.
In connection with stakeholder theory, according to Novita and Puspita .
, if a cooperative does not prepare its financial statements according to reporting standards, stakeholder confidence in the cooperativeAos financial reports will be low, ultimately hindering the cooperativeAos business growth.
Research on accountability and transparency in financial reporting has been extensively studied, ranging from the importance of accounting narratives in building public trust (Abela.
Quattrone, 2.
, the role of organizational structure and oversight mechanisms in accountability (Agyenim-Boateng, 2017.
Louw, 2.
, to the relevance of international standards such as IFRS and IPSAS in improving the quality of reporting (Aladwey, 2023.
Fuad, 2019.
Krismiaji, 2020.
Mattei, 2.
In the public sector, transparency in local government financial reporting has been shown to influence public perception and trust (Bolyvar, 2018.
Cordery, 2019.
Haustein, 2.
meanwhile, in non-profit organizations and cooperatives, the quality of audits and compliance with accounting standards greatly determine the credibility of reports (Barghathi, 2018.
Ismajli, 2019.
Mack, 2017.
Reheul.
However, most of these studies focus on local governments.
MSMEs, private cooperatives, and international non-profit organizations, while specific studies on Civil Servant Cooperatives (KPN/K.
, which have unique characteristics because they operate Alfian Mirza Syabani et al.
| Volume 5 No.
within the government bureaucracy, involve many stakeholders, and have dual accountability obligations to their members and the government, are still very limited.
Thus, there is a research gap regarding the application of ETAP GAAP to civil servant cooperatives.
This study attempts to fill this gap by analyzing the compliance of West Java Kp financial reports with ETAP GAAP and providing recommendations to improve their financial transparency and Based on the background described above, it is important for the authors, who are stakeholders, to understand how Kp West Java prepares its financial statements.
Hence, this article aims to: .
identify and assess the compliance of Kp West JavaAos financial statement preparation with SAK ETAP, .
identify obstacles faced in preparing financial statements, and .
provide solutions that can be implemented to address the challenges experienced by Kp West Java in preparing its financial statements.
Literature Review Stakeholder Theory A business is not just focused on its own success, but also needs to consider the wellbeing of stakeholders such as shareholders, creditors, customers, suppliers, government, the public, analysts, and others (Hery, 2.
The survival of a company depends heavily on the support it receives from these stakeholders, so efforts should be made to ensure that the company's actions align with their interests.
Stakeholder theory asserts that all parties with an interest in a company should have access to information that could impact their decisionmaking (Ulum, 2.
It is possible for stakeholders to ignore this information and they do not always have a hands-on role within the company.
Based on the previously described definitions, stakeholder theory explains the relationship between an entity and its stakeholders to enhance the creation of positive value as an impact of the entity's activities.
Furthermore, this theory suggests that the activities of an entity or company are aimed at gaining the trust of its stakeholders in order to be recognized and to maintain its existence.
Indonesian Financial Accounting Standards for Entities Without Public Accountability (SAK ETAP) The Indonesian Financial Accounting Standards Board (DSAK IAI) issues standards known as Indonesian Accounting Standards for Entities Without Public Accountability (SAK ETAP) which can be implemented by private entities or those without public accountability who fulfill the requirements outlined in these accounting standards (IAI, 2.
An entity prepares financial statements in accordance with SAK ETAP if the entity.
Does not have public accountability at any time during the reporting period, or Has public accountability but is permitted by the relevant regulator to prepare financial statements in accordance with Indonesian SAK for ETAP, or Qualifies to report financial statements under Indonesian SAK for Micro.
Small, and Medium Entities (EMKM) but chooses to report according to Indonesian SAK for ETAP.
Presentation of Financial Statements According to Purnamawati .
, presentation is the process of placing items/accounts .
in the financial statements accurately and fairly.
In order to comply with the Financial Accounting Standards for Entities Without Public Accountability (SAK ETAP), it is necessary to present all required financial reports.
These would typically include a balance sheet and an income statement.
Additionally, organizations need to create a report detailing Alfian Mirza Syabani et al.
| Volume 5 No.
the variations in ownership equity, including any changes unrelated to transactions with owners acting in their capacity as owners.
It is also necessary to include a document outlining the flow of cash as part of the entire financial statement setup.
Additionally, accompanying notes should be provided to supplement the financial statements, outlining key accounting practices and other relevant details (Negash, 2020.
Sylvia, 2.
Cooperation As highlighted by Lewar et al.
, a cooperative is an association consisting of individuals or legal entities that allows members the freedom to join and leave, working together in a familial spirit to run a business to improve the physical well-being of its members.
According to Purnamawati .
from an economic perspective, a cooperative is a voluntary economic organization, meaning members are free to join and leave according to existing regulations, whether they are consumers or producers, individuals or groups, with the aim of improving the welfare of its members through cooperation.
As per Law No 25 of 1992 regarding Cooperatives, a cooperative is defined as a business organization comprised of individuals or legal entities that operate based on cooperative principles and serve as a grassroots economic initiative rooted in the value of community.
Previous Research Research by Yuniarti and Sulaimawan .
using a descriptive qualitative method compared the financial statement preparation practices of KPRI Bhakti Husada South Lampung with the Financial Accounting Standards for Entities Without Public Accountability (SAK ETAP).
The results showed that the institution had not fully implemented SAK ETAP, preparing only the balance sheet and income statement, statement of changes in equity, and notes to the financial statements, while the cash flow statement had not been prepared.
Based on the analysis calculated using Dean J.
Champion's formula, the comparison of KPRI Bhakti Husada South LampungAos financial statement preparation with SAK ETAP was categorized as quite compliant, with a score of 74.
An investigation by Habib et al.
, also employing a descriptive qualitative method, comparing the financial statement preparation practices of CV.
Mitra Jaya Teknik with SAK ETAP.
The findings showed that the organization did not completely adhere to SAK ETAP, with only the balance sheet and income statement being completed.
Other necessary financial statements such as the statement of changes in equity, cash flow statement, and notes were not prepared yet.
According to the analysis using Dean J.
Champion's formula, the comparison of CV.
Mitra Jaya TeknikAos financial statements with SAK ETAP was also categorized as quite compliant, with a score of 74%.
Research by Hutabarat et al.
with a descriptive qualitative method compared the financial statement preparation practices of Koperasi Credit Union Kasih Setia Pulau Tello with SAK ETAP.
The results showed that the organization did not fully utilize SAK ETAP, as they only completed the balance sheet and income statement for calculating the remaining operating results.
The statement of changes in equity, cash flow statement, and financial statement notes were not yet prepared.
Based on the analysis using Dean J.
Champion's formula, the comparison of the financial statement preparation with SAK ETAP was categorized as less compliant, with a score of 60%.
Saragiha et al.
has compared into the financial statement preparation practices of PT Zamara Inti Pratama with SAK ETAP by descriptive qualitative method.
The findings indicated that the organization had not yet executed SAK ETAP completely, focusing only on compiling the balance sheet, income statement, and cash flow statement, disregarding the preparation of the statement of changes in equity and accompanying notes.
According to the Alfian Mirza Syabani et al.
| Volume 5 No.
analysis using Dean J.
Champion's formula, the comparison of financial statement preparation with SAK ETAP was categorized as quite compliant, with a score of 73%.
The collective implication of these studies is a recurring pattern of partial or incomplete compliance with financial reporting standards across various types of Indonesian entities.
This establishes a critical research gap concerning the quality and transparency of financial reporting, which is a foundational element for sound financial management and performance The present study on RSUD Kesehatan Kerja builds directly upon this context.
While previous research has focused on reporting compliance, this paper investigates the subsequent outcome, how a major policy shift (PPK-BLUD) that demands greater accountability and transparency in financial management actually impacts key financial performance metrics.
Thus, this research extends the existing literature by moving beyond the question of whether financial statements are prepared correctly to analyze how improved financial governance and autonomy influence organizational effectiveness.
Conceptual Framework According to the information provided earlier, a visual representation of the conceptual framework can be created and displayed in a figure below.
Figure 1.
Conceptual Framework Figure 1 illustrates the conceptual framework for this study, depicting the comparison process where the Financial Statements of Kp West Java .
3 & 2.
are compared with the SAK ETAP Requirements .
he five mandated statement.
to define the Compliance Level.
Method Type of Research This study employs a descriptive qualitative method by collecting data through documentation, observation, and interviews with Kp West Java.
Descriptive qualitative research was chosen as the research method to analyze the application of SAK ETAP in the financial statements of Kp West Java.
The evaluation is carried out using the approved SAK ETAP to guarantee that financial statements are prepared and presented in alignment with the accounting standards, and that the entity's assets are in line with the implementation of Alfian Mirza Syabani et al.
| Volume 5 No.
the relevant accounting standards.
As noted by Fiantika et al.
, qualitative research is used to explore the perspectives of subjects, process dynamics, as well as the implicit meanings within a phenomenon.
The descriptive qualitative method is used to identify, understand, and explain in detail various aspects related to the preparation of financial statements in accordance with applicable accounting standards, including data collection from various sources, both official documents and interviews with relevant parties.
This method allows researchers to gather information in greater depth, thereby providing a systematic, factual, and accurate depiction of the issues at hand.
Data Sources.
Data Collection, and Informants This study utilizes primary data collected directly from interviewed informants, observations, as well as secondary data obtained from credible sources.
The primary data includes field notes, interview results, and supporting documents.
The secondary data consists of regulations related to the preparation of financial statements according to SAK ETAP.
Direct observations and in-depth interviews were conducted with stakeholders involved in the preparation of financial statements.
Considering time efficiency in completing the research and the depth of data, the researcher determined a total of four .
informants, including head of the Kp West Java supervisory board, treasurer of the Kp West Java board, manager, assistant manager of administration and finance division Validity of Data and Data Analysis Techniques Sugiyono .
explains that in qualitative research, there are four tests for data validity, including the credibility test .
nternal validit.
, transferability test .
xternal validit.
, dependability test .
, and confirmability test .
In this study, the method used to test credibility is through technique triangulation and source triangulation.
examine transferability, the researcher provides detailed, clear, and systematic descriptions, allowing readers or future researchers to use them in further research.
To assess dependability, concrete evidence is presented during data collection such as interviews, documentation, and involvement in observation.
Confirmability is ensured by including the results of triangulation with financial report data, interviews, and field observations.
The author utilizes data analysis methods derived from the Miles and Huberman Model.
The steps involved in data analysis according to the Miles and Huberman framework in (Fiantika et al.
, 2.
include data condensation, data display, and conclusion drawing.
determine the conclusions from data obtained through interviews and observations, the Champion percentage formula is used, as proposed by Habib et al.
, which is as follows.
Percentage of Suitability = Oc Number of "Yes" answers Oc Number of respondent answers y 100% .
The answer options for the questions created by the author to identify suitability are AuYesAy and AuNoAy.
The percentage of suitability obtained from the above calculation is then used to draw conclusions following the classification criteria as in table 1 below.
Table 1.
Percentage Criteria
Percentage Criteria
0% - 25%
Not suitable 26% - 50% Less suitable 51% - 75% Quite suitable 76% - 100% Suitable Alfian Mirza Syabani et al.
| Volume 5 No.
Further, based on the analysis of the challenges in preparing financial statements, this research provides suggestions and recommendations that are expected to offer solutions to the issues in implementing SAK ETAP for financial statement preparation.
The researcher has formulated constructive input for the research object with the aim of improving the management of the business.
Thus, this conclusion not only reflects the current conditions but also serves as a foundation for future improvements.
Results and Discussion Research Findings Based on interviews with Mrs.
Tini Supriyatini.
Assistant Manager of Administration and Finance, she stated that since 2023, the process of journal entries and the preparation of Kp West JavaAos financial statements has been automatic and in real-time whenever a transaction occurs, thanks to the Smartcoop application, both for the savings and loan business unit and the goods trading business unit.
The requirement to present the elements of financial statements in the annual financial report for the Annual Member Meeting is adjusted according to managementAos decisions in fulfilling the information needs of the members.
Financial report data was collected by thoroughly examining the contents of the 2024 financial statements, which have been published by Kp West Java and presented at the Annual Member Meeting.
The results of this data collection are presented in the following KOPERASI PEGAWAI PEMERINTAH PROVINSI (K.
JAWA BARAT
LAPORAN LABA RUGI / PERHITUNGAN HASIL USAHA
PERIODE YANG BERAKHIR SAMPAI 31 DESEMBER 2024
Nama Akun
Pendapatan 1 Administrasi Simpanan 2 Jasa Pinjaman Uang (USP) 3 Jasa Pinjaman Barang (UNB) 4 Provisi Pinjaman Uang (USP) Pendapatan Toko
1 Pendapatan Anggota 2 Pendapatan Non Anggota 3 Pendapatan Konsinyasi Anggota 4 Pendapatan Konsinyasi non Anggota 5 Diskon Penjualan 6 Retur Penjualan Total Pendapatan Toko
Total Pendapatan Harga Pokok Produksi
Beban Harga Pokok Produksi
1 Harga Pokok Produksi
Total Beban Harga Pokok Produksi
Total Harga Pokok Produksi
Pendapatan Kotor
Beban
1 Beban Administrasi Bank
2 Pajak Bunga Bank
3 Beban Gaji Pengurus 4 Beban Gaji & Honor Pengelola 5 Beban Honor Kebersihan 6 Beban BPJS
7 Beban Honor Stock Opname Minimarket
8 Beban Rapat
9 Beban Sewa Ruangan 10 Beban Transportasi
11 Beban Rapat Anggota Tahunan 12 Beban Penyusutan Peralatan 13 Beban Penyusutan Aset Tetap Lainnya 14 Beban Penyusutan Aset Tidak Berwujud 15 Beban Servis 16 Beban Perlengkapan 17 Diskon Pembelian 18 Beban Sewa Hosting Aplikasi Smartcoop
19 Beban Administrasi Perkoperasian Total Beban
Hasil Usaha Sebelum Bunga dan Pajak
Pendapatan Lain-lain Pendapatan Lain-lain 1 Pendapatan Lain-lain 2 Pendapatan Bunga Bank
Total Pendapatan Lain-lain Hasil Usaha Sebelum Pajak
Pajak-pajak Beban Pajak
1 Pajak Usaha
Total Beban Pajak
Hasil Usaha Setelah Pajak
Sisa Hasil Usaha
Saldo
Kode Akun
000,00
071,00
082,00
875,00
483,00
000,00
104,00
413,00
-500,00
500,00
000,00
028,00
520,00
520,00
520,00
508,00
617,00
756,00
000,00
000,00
000,00
683,53
000,00
026,49
000,00
000,00
879,00
697,12
427,80
502,28
000,00
595,00
012,00
000,00
000,00
172,22
335,78
909,00
436,00
345,00
680,78
730,00
730,00
950,78
950,78
Figure 2.
Balance Sheet of Kp West Java for the Year 2024 Alfian Mirza Syabani et al.
| Volume 5 No.
KOPERASI PEGAWAI PEMERINTAH PROVINSI (K.
JAWA BARAT
NERACA KONSOLIDASI
PER 31 DESEMBER 2024
Aktiva
Aktiva Lancar
Nama Akun
1 Kas Pusat
2 Kas Simpan Pinjam
3 Kas Niaga Barang 4 Kas Bank BJB 0011039073100
5 Kas Bank BTN
6 Kas QRIS Minimarket (UNB) 7 Kas Bank BJB 0144095820101
8 Kas Bank BJB 0145939240103
9 Piutang Uang (USP) 10 Piutang Barang (UNB) 11 Piutang Operasional Lainnya 12 Persediaan Barang 13 Uang Muka Cicilan Pertama Jumlah Aktiva Tetap Nama Akun
1 Peralatan 2 Akumulasi Penyusutan Peralatan 3 Aset Tetap Lainnya 4 Akumulasi Penyusutan Aset Tetap Lainnya Jumlah Aktiva Lain-lain Nama Akun
1 Simpanan Pokok/Wajib di PKPRI
2 Aset Tidak Berwujud 3 Akumulasi Penyusutan Aset Tidak Berwujud Jumlah Total Aktiva
Pasiva
Kewajiban Nama Akun
1 Simpanan Sukarela
2 Utang Dagang
3 Dana Sosial
4 Utang Konsinyasi
Jumlah Ekuitas Nama Akun
1 Simpanan Pokok
2 Simpanan Wajib 3 Sisa Hasil Usaha
4 Sisa Hasil Usaha Tahun Lalu 5 Subsidi Pemda Provinsi Jawa Barat
6 Pelimpahan Modal Kespeg
7 Pelimpahan Aktiva Kespeg
8 Hibah
9 Cadangan Sisa Hasil Usaha
10 Cadangan Resiko
Jumlah Total Pasiva
Kode Akun
Saldo
0,00
0,00
000,00
744,00
671,69
973,00
616,00
000,00
046,43
805,00
222,60
083,00
0,00
161,72
Kode Akun
Saldo
996,00
237,98
705,00
421,55
041,47
Kode Akun
Saldo
740,00
578,02
057,35
260,67
463,86
Kode Akun
Saldo
000,00
134,00
105,42
670,00
909,42
Kode Akun
Saldo
158,00
486,00
950,78
0,00
101,00
856,00
000,00
000,00
869,66
133,00
554,44
463,86
Figure 3.
Income Statement Report of Kp West Java for the Year 2024 In addition to the balance sheet and income statement/statement of operations, there are also Notes to Financial Statements (CaLK) which consist of explanations of the accounts found in the balance sheet and income statement.
However, these notes do not provide a detailed breakdown of the presented balances.
A review of Kp West JavaAos financial statements for the 2024 fiscal year found that, of the five components of financial statements that should be presented according to SAK ETAP, several components were not included, specifically the cash flow statement and the statement of changes in equity.
Therefore, in the 2024 financial statements of Kp West Java, only three components were presented.
assess compliance with SAK ETAP implementation from the perspective of internal stakeholders, data collected during observations using questionnaires was employed.
At this stage, the writer used Dean J.
ChampionAos formula for assessment, with data obtained from questionnaires consisting of 25 questions covering each component of SAK ETAP implementation, which had to be answered by the respondents as presented in Table 2.
Nb.
Table 2.
Questionnaire Results on Suitability Assessment Respondent Suitable Not Suitable Chairman of the Supervisory Board Treasurer of the Cooperation Manager Assistant Manager of Administration and Finance Total Alfian Mirza Syabani et al.
| Volume 5 No.
Based on the percentage obtained, using observations with questionnaires calculated using the Dean J.
Champion formula, a figure of 81% was achieved, which falls into the fourth As reported by Habib et al.
, with a percentage between 76% and 100%, the assessment criteria are categorized as compliant, meaning that from the perspective of internal stakeholders of Kp West Java, the preparation and presentation of financial statements are in accordance with SAK ETAP, although not yet 100%.
Being categorized as compliant does not necessarily mean there are no obstacles in the preparation of financial statements.
Based on interviews with Ms.
Teti Maryati as Manager, in terms of financial management and preparation of financial statements at Kp West Java, there are many challenges faced by management, such as the need to continuously improve the quality and competence of cooperative management human resources, especially in facing information digitalization, the low participation of members outside of the board and supervisors in providing technical suggestions for cooperative improvements, a significant amount of non-performing loans due to delayed installment payments by members, and managers who are not yet fully familiar with tax calculations.
According to research by Habib et al.
, which discusses the correlation between sharing information in financial reports and the views of individuals interested in the business is crucial.
Key elements like the profit and loss statement, balance sheet, cash flow statement, equity changes document, and accompanying notes must be included.
This means companies are required to provide details following specific guidelines or accounting rules like the Indonesian Financial Accounting Standards (SAK) (Fuad, 2019.
Krismiaji, 2.
The reason behind requiring disclosure is to guarantee that the organization offers the necessary details to fulfill the standards of clarity and responsibility for those involved.
Requiring the income statement, balance sheet, cash flow statement, statement of changes in equity, and financial statement notes ensures that, in order to achieve the goal of presenting financial information to stakeholders, adherence to SAK ETAP must be full and complete.
Phenomenon Analysis This section discusses how SAK ETAP is implemented at Kp West Java.
Based on data collected through observations regarding the application of SAK ETAP from the perspective of internal stakeholders at Kp West Java, the implementation of SAK ETAP in Kp West Java's financial statements reached 81%, which means it is considered Aucompliant.
Ay However, the assessment from the perspective of Kp West Java's internal stakeholders needs to be further strengthened by previous research that evaluates the conformity of financial statement preparation standards according to SAK ETAP at an entity.
To reinforce these research findings, the author conducted a compliance assessment using the evaluation techniques described in the study by Irwandi et al.
, which assessed the implementation of SAK ETAP at KPRI Bhakti Husada Lampung.
In that study, a compliance assessment table was used to measure an entity's financial statements against SAK ETAP.
This assessment table is used in the present study to provide a comparison regarding the compliance of financial statement preparation at Kp West Java, as presented in table 3 Alfian Mirza Syabani et al.
| Volume 5 No.
Table 3.
Compliance Assessment No.
SAK ETAP Compliance Indicator Current asset useful life less than one year Classification of current assets according to the order of their liquidity The useful life of the asset is not current for more than one period Non-current assets are recorded as the price of their There is a calculation of depreciation of fixed assets Short-term obligations that are paid off in less than 1 Short-term liabilities are recorded at face value Long-term obligations that are repaid over a period of more than 1 year Long-term liabilities are recorded at face value Sourced equity from members Umber equity from within the cooperative Principal deposit, equal to nominal value Mandatory deposits, equal to nominal value Grants/donations Undivided Profit and Loss Recommendations Income Statement Ae Key operating income Income Statement Ae Other operating income Income Statement Ae Non-operating income Income Statement Ae Other Income Income Statement Ae Operating expenses-Operating Profit and Loss Report Ae Operating expensesCooperative expenses Income Statement Ae Other expenses Equity Change Report Ae Equity Enhancer Equity Change Report Ae Equity Reduction Cash Flow Statement Ae Operating Activities Cash Flow Statement Ae Funding Activity Cash Flow Statement Ae Investment Activity CaLK Ae Overview of the organization CaLK Ae Accounting policy Total Kp West Java Exist Exist Compliant Exist Exist Exist Exist Exist Exist Exist Exist Exist Exist Exist Exist None Exist Exist Exist Exist Exist Exist None Exist None None None None None Exist None NonCompliant Based on the conformity assessment results obtained from an in-depth review of the financial statements calculated using Dean J.
ChampionAos formula, a figure of 73.
33% was achieved, which falls within the third group according to the research of (Habib et al.
, 2.
with a percentage between 51% and 75%, and the assessment criteria classified as Aufairly Ay Although there is a change in category from the previous assessment of 81% with the AucompliantAy label to 73.
33% Aufairly compliant,Ay there is a similarity in the implementation of SAK ETAP at Kp West Java is still not at 100% comply.
When linked to the stakeholder perspective discussed by (Fitriana et al.
, 2.
, the financial statement disclosures by Kp West Java still do not fulfill the objectives of financial reporting to stakeholders because there are still shortcomings in the components of the financial statements, which are mandatory to comply with SAK ETAP.
Another opinion that supports the stakeholder perspective, from (Adi, 2.
, emphasizes the importance for entities to prepare financial reports in accordance with Financial Accounting Standards, as it is necessary to ensure the availability of relevant Alfian Mirza Syabani et al.
| Volume 5 No.
By routinely referring to Financial Accounting Standards, compliance with procedures will be more easily established, including for all related stakeholders.
In the assessment of the financial statements of Kp West Java for the 2024 fiscal year, shortcomings in the implementation of SAK ETAP as revealed by the research are explained as follows.
In the balance sheet, it is grouped into five sections: current assets, fixed assets, shortterm liabilities, long-term liabilities, and equity.
Four sections including current assets, fixed assets, short-term liabilities, and long-term liabilities are in accordance with the criteria, while in the equity section there is a discrepancy in the indicator of undistributed SHU.
In the 2024 balance sheet of Kp West Java, the undistributed profit balance cannot be clearly identified because the 2024 balance sheet was not compared to the 2023 balance sheet, making it impossible to observe the changes.
Furthermore, changes in equity are not presented clearly because the statement of changes in equity has not yet been provided.
In the income statement/business results calculation, it is grouped into income and The income section complies with the criteria, while in the expenses section there is a discrepancy in the indicator for Operational Expenses-Cooperative Expenses.
the 2024 income statement/business results calculation of Kp West Java, the accounts included in this indicator are not separated from operating expenses.
operating expenses and cooperative expenses is important so that management can analyze which operational costs are directly related to the business and which are not.
In the statement of changes in equity, it is grouped into equity additions and equity Both sections are noncompliant because Kp West Java has not prepared a statement of changes in equity for the 2024 fiscal year.
The cash flow statement categorizes cash inflows into three main groups: operating activities, investing activities, and financing activities.
All three sections are noncompliant because Kp West Java has not prepared a cash flow statement for the 2024 fiscal year.
In the notes to financial statements, it is grouped into a general description of the entity and accounting policies.
The general description of the entity meets the criteria, while in the accounting policies section there is a discrepancy because the notes to the financial statements of Kp West Java for the 2024 fiscal year do not clearly present the accounting policies.
Presentation of Financial Statements in Accordance with SAK ETAP Balance Sheet In the presentation of the balance sheet for the 2024 financial statements of Kp West Java, only the financial period of that year is presented without comparison to the 2023 fiscal According to the Indonesian Financial Accounting Standards Board (IAI, 2.
, financial statements should be presented with comparative information for the immediately preceding This has significant implications for the transparency and comparability of the financial statements.
Presenting statements without comparative information can hinder report users and stakeholders from assessing trends, analyzing changes in financial position, and evaluating financial performance year after.
Therefore, the author has assisted Kp West Java in preparing a balance sheet containing comparative information as depicted in figure 4 Alfian Mirza Syabani et al.
| Volume 5 No.
KOPERASI PEGAWAI PEMERINTAH PROVINSI (K.
JAWA BARAT
NERACA
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024
(Dinyatakan dalam Rupia.
ASET
ASET LANCAR
Kas dan Setara Kas
Piutang
Persediaan Biaya Dibayar Dimuka JUMLAH ASET LANCAR
Catatan ASET TIDAK LANCAR
Investasi
Aset Tetap - Bersih
Aset Tidak Berwujud - Bersih
Aset Lain-lain - Bersih
JUMLAH ASET TETAP
JUMLAH ASET
KEWAJIBAN DAN EKUITAS
KEWAJIBAN
Utang Usaha
Utang Konsinyasi
Simpanan Sukarela
Dana-dana JUMLAH KEWAJIBAN Catatan 004,69 074,03 083,00 161,72 975,81 371,74 347,00 694,55 740,00 758,02 520,67 283,45 302,14 740,00 455,14 022,96 711,25 929,35 463,86 623,90 134,00 670,00 000,00 105,42 909,42 877,00 539,00 000,00 529,31 945,31
EKUITAS
Simpanan Pokok
Simpanan Wajib Cadangan Umum Cadangan Risiko
Sisa Hasil Usaha
Ekuitas Lain JUMLAH EKUITAS
158,00
486,00
869,66
133,00
950,78
957,00
554,44
158,00
922,00
045,23
138,00
496,19
919,17
678,59
JUMLAH KEWAJIBAN DAN EKUITAS
463,86
623,90
Figure 4.
Balance Sheet for 2024 and 2023 in accordance with SAK ETAP Income Statement or Calculation of Business Results In the presentation of the income statement or calculation of business results in the 2024 financial statements of Kp West Java, only the financial period for the current year is presented without comparison to the 2023 fiscal year.
According to the Indonesian Financial Accounting Standards Board (IAI, 2.
, financial statements should be presented with comparative information from the immediately preceding period.
This has implications for stakeholders who use the report in analyzing revenue trends, operational expenses, and net profit, making it difficult to measure operational efficiency, evaluate the success of financial strategies, and detect indications of fraud from improper management.
Therefore, the author assisted Kp West Java in preparing an income statement or calculation of business results containing comparative information as illustrated in figure 5 below.
KOPERASI PEGAWAI PEMERINTAH PROVINSI (K.
JAWA BARAT
LAPORAN LABA RUGI / PERHITUNGAN HASIL USAHA
UNTUK PERIODE SAMPAI DENGAN 31 DESEMBER 2024
(Dinyatakan dalam Rupia.
Catatan PENDAPATAN DAN PENJUALAN Pendapatan Unit Simpan Pinjam
Pendapatan Unit Niaga Barang Jumlah Pendapatan dan Penjualan 153,00 000,00 153,00 340,67 037,00 377,67 HARGA POKOK PENJULAN
Harga Pokok Penjualan Minimarket
Jumlah Harga Pokok Penjualan 520,00 520,00 595,00 595,00 LABA BRUTO
633,00
782,67
BEBAN OPERASIONAL
Beban Operasional Usaha
Jumlah Beban Operasional 799,22 799,22 378,48 378,48 SISA HASIL USAHA OPERASIONAL
833,78
404,19
PENDAPATAN DAN BEBAN LAIN-LAIN
Pendapatan Lain-lain Pendapatan Provisi Pinjaman Pendapatan Bunga Bank
Pendapatan Lain-lainnya Jumlah Pendapatan Lain-lain 875,00 436,00 909,00 220,00 425,00 067,00 000,00 492,00 Beban Lain-lain Beban Administrasi Perkoperasian Beban Administrasi Bank
Beban Pajak Bunga
Jumlah Beban Lain-lain 000,00 617,00 756,00 373,00 0,00 000,00 974,00 974,00 Total Pendapatan dan Beban Lain-lain 847,00 518,00 SISA HASIL USAHA SEBELUM PAJAK
680,78
922,19
Pajak Penghasilan 730,00 426,00 SISA HASIL USAHA BERSIH
950,78
496,19
Figure 5.
Income Statement/Business Results Calculation for 2024 and 2023 according to SAK ETAP Alfian Mirza Syabani et al.
| Volume 5 No.
Statement of Changes in Equity In the 2024 financial statements of Kp West Java, a statement of changes in equity has not yet been presented.
The statement of changes in equity is one of the components of financial statements that must be presented by an entity (IAI, 2.
As said by Subagyo et al.
, the statement of changes in equity aims to present the cooperative's profit or loss for a given period, items of income and expenses recognized directly in equity for that period, and the effects of accounting policy and error corrections recognized in the period.
These statement is essential for stakeholders, as it facilitates the assessment of whether Kp West Java has experienced an increase or decrease in equity, and provides a basis for management to design strategies to strengthen capital and develop the business further.
Thus, the author assisted Kp West Java in preparing the statement of changes in equity for 2024 as demonstrated in figure 6 below.
KOPERASI PEGAWAI PEMERINTAH PROVINSI (K.
JAWA BARAT
LAPORAN PERUBAHAN EKUITAS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024
(Dinyatakan dalam Rupia.
Simpanan Pokok Saldo 31 Desember 2023 Penambahan (Penguranga.
Pembagian SHU
Sisa Hasil Usaha
Saldo 31 Desember 2024
Simpanan Wajib Cadangan Umum Cadangan Risiko
Sisa Hasil Usaha
158,00
000,00
922,00
564,00
045,23
824,43
138,00
995,00
496,19
919,17
158,00
486,00
869,66
133,00
496,19
950,78
950,78
957,00
Ekuitas Lain 962,17 Jumlah 678,59 383,43 458,36 950,78 554,44 Figure 6.
Statement of Changes in Equity for 2024 in Accordance with SAK ETAP Cash Flow Statement In the 2024 financial statements of Kp West Java, the cash flow statement has not yet been presented.
The cash flow statement is one of the components of financial statements that must be disclosed by an entity (IAI, 2.
Purnamawati .
underscore that the cash flow statement aims to provide information about the cash receipts and payments of an entity over a certain period.
The cash flow statement helps stakeholders assess the cooperativeAos capacity to generate future net cash inflows, meet obligations, and manage the allocation of cash and cash equivalents effectively.
Accordingly, the author supported Kp West Java in preparing the 2024 cash flow statement using the indirect method, which adjusts net income for noncash transactions and reflects cash flows from investing and financing activities.
KOPERASI PEGAWAI PEMERINTAH PROVINSI (K.
JAWA BARAT
LAPORAN ARUS KAS
UNTUK TAHUN YANG BERAKHIR 31 DESEMBER 2024
(Dinyatakan dalam Rupia.
ARUS KAS DARI AKTIVITAS OPERASI
Sisa Hasil Usaha Bersih Penyusutan dan Amortisasi - Berkurang .
Piutang Usaha - Berkurang .
Persediaan - Bertambah .
Kewajlban Jangka Pendek
Arus Kas Bersih dari Aktivitas Operasi
ARUS KAS DARI AKTIVITAS INVESTASI
- Pembelian Aset Tetap Arus Kas Bersih dari Aktivitas Investasi
ARUS KAS DARI AKTIVITAS PENDANAAN
- Bertambah .
Ekuitas - Pembagian Sisa Hasil Usaha
Arus Kas Bersih dari Aktivitas Investasi
950,78
627,20
702,29
736,00
035,89
103,80
000,00
000,00
383,43
458,36
925,07
Kenaikan .
Bersih Kas dan Setara Kas
028,87
Kas dan Setara Kas pada Awal Periode 975,81 Kas dan Setara Kas pada Akhir Periode 004,68 Figure 7.
Cash Flow Statement for 2024 in Accordance with SAK ETAP Alfian Mirza Syabani et al.
| Volume 5 No.
Notes to the Financial Statements Based on the presentation of notes to the financial statements by Kp West Java, there are indications that the preparation does not yet comply with SAK ETAP due to the following There is no disclosure related to the summary of accounting policies.
No detailed breakdown is provided for the receivable balances under accounts receivable in the balance No detailed breakdown is provided for inventory account balances in the balance sheet.
No detailed breakdown is provided for fixed assets and other assets accounts in the balance sheet, where such details should include opening balances of acquisition cost, additions, deductions, and closing balances of acquisition cost, and additionally, a breakdown of accumulated depreciation is not provided.
No detailed breakdown is provided for trade payable account balances in the balance sheet.
No detailed breakdown is provided for business income tax payable accounts in the income statement or calculation of business results.
This pattern of incomplete disclosure is not unique to Kp West Java and reflects a common challenge faced by cooperatives and MSMEs across different regions in implementing full SAK ETAP compliance.
For instance, a study by Fitriah and Hidayati .
on Credit Union Sekawan Maju in Surabaya found an almost identical shortcoming: the complete absence of Notes to the Financial Statements (CaLK).
Similarly, research on Koperasi Kredit Bintang Utara by Hadisantoso et al.
identified specific noncompliances within the notes, such as the failure to recognize an allowance for doubtful accounts on receivables, which is a key detailed breakdown required for a true and fair view.
This comparative analysis shows that the issue at Kp West Java is part of a wider trend where entities often prioritize the core statements (Balance Sheet and Income Statemen.
but neglect the explanatory notes, which are essential for transparency.
A complete and detailed presentation of notes to the financial statements is useful for providing explanations and additional details for the figures listed in other components of the financial statements such as the balance sheet and income statement or calculation of business This enables stakeholders to understand the financial position and performance of Kp West Java more comprehensively and enhances transparency and accountability.
The findings of this study show that the main problem is not merely technical recording, but rather a low level of understanding and application of accountability principles at the cooperative level.
This is in line with the view that Abela .
accounting in the form of records has a vital function in adding meaning to financial figures.
The absence of adequate disclosure renders information partial, thereby potentially reducing the relevance of reports for decision makers (Krismiaji, 2020.
Quattrone, 2022.
Wardhani, 2.
Thus, an important implication of this study is the need to improve the capacity of cooperative accounting human resources so that they can present financial reports that not only fulfill formal aspects but also truly support the transparency and accountability of the organization.
On the other hand, the results of this study also confirm that the problem of SAK ETAP compliance in cooperatives cannot be separated from organizational governance AgyenimBoateng .
and Eldyasty .
emphasizing that weaknesses in accountability structures often hinder the presentation of comprehensive reports, as entities tend to view them as an administrative burden rather than a means of accountability Cordery .
and Haustein .
also emphasizes that comprehensive disclosure in financial reports can increase public value and strengthen the legitimacy of organizations in the eyes of stakeholders.
Therefore, the results of this study imply the need for stricter regulations, consistent supervision, and sustainable assistance mechanisms so that cooperatives can achieve full compliance with SAK ETAP while strengthening good governance practices.
Alfian Mirza Syabani et al.
| Volume 5 No.
Conclusion This study concludes that the application of SAK ETAP in the financial statements of Kp West Java does not fully comply with applicable standards.
The internal assessment result of 81% .
ategory AucompliantA.
and the formal comparison of 73.
33% .
ategory Aufairly compliantA.
indicate significant weaknesses in presentation, particularly in the absence of cash flow statements, statements of changes in equity, and notes to the financial statements that have not been presented in detail.
This condition indicates that the transparency and accountability of the financial statements are not yet optimal, influenced by the limited competence of human resources managers and the low participation of members in providing technical input.
The implications of these findings confirm that partial compliance with accounting standards can reduce the credibility of financial statements and undermine stakeholder confidence in the cooperative's performance.
As a follow-up.
Kp West Java needs to improve the competence of human resources through SAK ETAP-based accounting training, maximize the use of the Smartcoop application, and conduct periodic evaluations of the accounting system to ensure compliance with standards.
In addition, using the services of an accounting firm (KJA) can be a practical solution to improve the quality of financial reports without burdening the organizational Socialization to members as owners and users of cooperatives is also important to increase participation and support in decision-making.
Future research is recommended to explore other quantitative methods and delve deeper into socio-cultural factors, such as leadership commitment and member literacy levels, which can influence the quality of cooperative financial reporting.
This is expected to enrich the literature and provide practical implications for the development of cooperative governance in Indonesia.
References