Application of SAK EMKM-Based Financial Statements at UD Ikan Asin SG

Abstract

Micro, small, and medium enterprises (MSMEs) require reliable financial information to evaluate performance and support business decisions, yet many still rely on simple cash records. This study examines the existing bookkeeping practice of UD Ikan Asin SG and applies the Financial Accounting Standards for Micro, Small, and Medium Entities (SAK EMKM) to reconstruct its financial statements. A descriptive qualitative approach was used. Primary data were obtained through interviews with the owner, direct observation, and documentation of cash-in and cash-out records, while secondary data were drawn from relevant literature. The findings show that the business had not implemented SAK EMKM and recorded only basic receipts and expenditures. Based on the available records, the SAK EMKM-based reconstruction reported total assets of Rp1,552,000,000, sales of Rp360,000,000, cost of goods sold of Rp265,000,000, total operating expenses of Rp62,000,000, and profit of Rp33,000,000 for December 2023. The study demonstrates that structured financial statements can improve the visibility of assets, equity, operating results, and accounting policies, although limited accounting knowledge and the absence of professional accounting personnel remain major implementation constraints.