The purpose of this research is to look into issues and challenges associated with the adoption of International Financial Reporting Standards for Small and Medium Enterprises (IFRS for SMEs) or so-called MPERS (Malaysian Private Entity Reporting System). Using keywords like "IFRS for SMEs," "MPERS in Malaysia," and so on, this study examines existing literature in the form of articles in the Emerald database, as well as press releases and publications published by the Malaysian Institute of Accountants (MIA). The MPERS version of IFRS is a shortened version of the complete IFRS. It reduces the substance of the whole IFRS by about 85%. Certain topics are excluded because they are not normally relevant to SMEs. SMEs, on the other hand, still consider IFRS for SMEs to be excessively complicated. MPERS is a performance-based standard, not a cost-based one. Almost everything must be of reasonable value. As a result, businesses owning investment properties or biological assets will have to pay extra for the valuation of these assets at fair value. For preparers, there are two major obstacles to overcome. Constant changes in standards, as well as a scarcity of skilled accountants, are also issues. Some data suggests that the decision usefulness model is inappropriate for smaller businesses. SMEs have a small number of account users, lack accounting competence to deal with complexity, and are managed by their owners. Furthermore, for SMEs, a reporting approach focused on stewardship and employing simplified historical cost accounting would be more appropriate.
Abstrak. Bank Sampah Induk Surabaya (BSIS) merupakan bank sampah pusat di Kota Surabaya yang menerima dan menyetorkan berbagai macam jenis sampah anorganik yang telah terpilah dari lingkungan.Bank Sampah Induk Surabaya selain memberikan edukasi dibidang pengelolaan lingkungan kepada masyarakat juga turut berperan serta menjaga kelestarian lingkungan dengan menyerap sampah anorganik dari masyarakat yang kemudian disalurkan kepada industri untuk didaur ulang menjadi produk baru. Sumber pendapatan utama Bank Sampah Induk Surabaya yaitu hasil penjualan sampah terpilah. Akan tetapi saat ini sumber pendapatan tersebut belum optimal dalam menopang operasional, disebabkan penjualan yang terjadi tidak seluruhnya dalam bentuk tunai beberapa diantaranya dalam bentuk kredit. Jumlah piutang yang cukup signifikan tentu berpengaruh besar terhadap likuiditas keuangan BSIS terutama di masa pandemic, sehingga manajemen piutang sangat diperlukan untuk mengatur likuiditas keuangan dan mencegah kebangkrutan. Kata kunci: Bank Sampah Induk Surabaya, Manajemen Piutang Abstract. The Surabaya Waste Bank (BSIS) is a central waste bank in the city of Surabaya that accepts and deposits various types of inorganic waste that has been separated from the environment then distributed to the industry to be recycled into new products. The main source of income for The Surabaya Waste Bank (BSIS) is the sale of separated waste. However, at this time the source of income is not optimal in supporting operations, due to sales that occur not entirely in cash, some of which are in the form of credit. The significant amount of receivables certainly has a big impact on BSIS's financial liquidity, especially during the pandemic, so that receivables management is very necessary to regulate financial liquidity and prevent bankruptcy. Keywords: Surabaya Waste Bank, Receivable Management
This study aims to compare and analyze the difference between AAOIFI standards and PSAK 111. The method used in this study in content analysis. This study found that AAOIFI standards cover almost all of the areas covered under PSAK 111. However, AAOIFI standards are argued to be more holistic, focused and specific compared to PSAK 111. AAOIFI tends to encourage takaful operators to use wakalah model. Pro-forma Statement of policyholders’ surplus and deficit in FAS 12 only recognized the distribution of underwriting surplus to policyholders, while PSAK 111 recognized distribution both to policyholders and takaful operators. PSAK 111 recognized modified wakalah model for takaful operators. Consequently, Pro-forma Income statement in FAS 12 only recognized three sources of revenue of takaful operators. They are investment revenue (from shareholder’s equity), wakalah fee (ujrah) and profit-sharing investment (from policyholder’s fund), while PSAK 111 also included income from distribution of underwriting surplus. Keywords: Accounting Practices, Takaful Operators, AAOIFI, PSAK 111
Abstract. This study has two objectives. First, it compares SoRP fund accounting standards in UK and PSAK 109 in Indonesia. Second, it compares the accounting practices between two national zakat institutions, namely BAZNAS and Dompet Dhuafa. This study uses content analysis. This study found some differences between SoRP fund accounting and PSAK 109 in terms of the number of financial reports, the accounting treatment for endowment/waqf, and the component of Statement of Financial Position. This study also found several differences between annual reports of BAZNAS and Dompet Dhuafa in terms of the classification of infaq fund, the availability of government fund 9APBN), the variety of restricted funds, and the accounting treatment for endowment/waqf. Keywords: SoRP Fund Accounting, PSAK 109, Zakat, Waqf. Abstrak. Penelitian ini memiliki dua tujuan. Pertama, membandingkan standar akuntansi fund accounting (akuntansi dana) Statement of Recommended Practices (SoRP) di Inggris dan PSAK 109 tentang zakat di Indonesia. Kedua, membandingkan praktik akuntansi antara dua lembaga zakat nasional, yaitu BAZNAS dan Dompet Dhuafa. Penelitian ini menggunakan metode content analysis. Penelitian ini menemukan beberapa perbedaan antara standar akuntansi fund accounting SoRP dan PSAK 109 dalam hal jumlah laporan keuangan, perlakuan akuntansi untuk wakaf, dan komponen Laporan Posisi Keuangan. Penelitian ini juga menemukan beberapa perbedaan antara laporan tahunan BAZNAS dan Dompet Dhuafa dalam hal klasifikasi dana infaq, ketersediaan dana pemerintah (APBN), jenis dana yang dibatasi penggunaannya, dan perlakuan akuntansi untuk wakaf. Kata kunci: Akuntansi Dana SoRP, PSAK 109, Zakat, Wakaf.
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