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All Journal Manajemen Bisnis dan Keuangan Korporat Riset Akuntansi dan Manajemen Pragmatis
Rudy J. Pusung
Sam Ratulangi University
Economics, Econometrics & Finance Social Sciences

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Rekonstruksi laporan keuangan UMKM berbasis SAK EMKM untuk perencanaan keuangan: Studi kasus EDT Coffee Priskila Anjeli Rondonuwu; Rudy J. Pusung; Steven J. Tangkuman
Manajemen Bisnis dan Keuangan Korporat Vol. 4 No. 2 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/mbkk.488

Abstract

Micro, small, and medium enterprises (MSMEs) contribute more than 60% of Indonesia's Gross Domestic Product, yet many, particularly coffee shops in the fast-growing culinary sector, still keep only rudimentary cash records without reference to any formal accounting standard such as the Financial Accounting Standards for Micro, Small, and Medium Entities (SAK EMKM) issued by the Indonesian Institute of Accountants. Prior studies on SAK EMKM implementation have mostly evaluated compliance levels descriptively, leaving a gap in quantitative evidence on how the omission of fixed-asset depreciation distorts reported profit and undermines financial planning decisions. This study aims to reconstruct and evaluate the implementation of SAK EMKM in preparing the financial statements of EDT Coffee, a coffee shop located in Winangun Atas, Pineleng, Minahasa, North Sulawesi, as a basis for financial planning decisions, using a single-case, descriptive qualitative case study design. Data were collected through observation, in-depth interviews, and documentation, then analyzed using the interactive model of data reduction, data display, and conclusion drawing. The results show that EDT Coffee has not implemented SAK EMKM due to management's limited accounting knowledge, and its bookkeeping remains conventional, merely recording cash inflows and outflows. Its internal records were found to overstate profit by IDR 45,016,477 because non-cash depreciation expenses on fixed assets were disregarded. After reconstructing the Income Statement, Statement of Financial Position, and Notes to the Financial Statements in accordance with SAK EMKM, using the straight-line depreciation method with a 10% residual value, the entity's real net profit for fiscal year 2025 was found to be IDR 31,527,997. This reconstruction provides an accurate financial data foundation for the owner in formulating operational cost-efficiency strategies and long-term financial planning; as findings from a single case, however, they should be generalized to other coffee shops with caution.
When signals meet sustainability: Stock price transitions across EPS, RETE, Interest Rate, and ESG Categories in Indonesian property firms I Gusti Kadek Yoga Andika; Rudy J. Pusung
Riset Akuntansi dan Manajemen Pragmatis Vol. 4 No. 1 (2026)
Publisher : Yayasan Widyantara Nawasena Raharja

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58784/ramp.485

Abstract

Stock prices in Indonesia's property and real estate sector fluctuated markedly between 2021 and 2025, reflecting the joint influence of firm-level fundamentals and macroeconomic conditions—yet most prior studies examine profitability, corporate life-cycle, and interest-rate signals in isolation from sustainability status, and rely on single cross-sectional snapshots rather than longitudinal evidence. This study addresses that gap by examining differences in stock prices across categories of Earnings Per Share (EPS), Retained Earnings to Total Equity (RETE), and interest rates, and by exploring how these signals interact with Environmental, Social, and Governance (ESG) Score status. Using secondary data from 31 listed companies (620 quarterly observations, 2021–2025) analyzed through the Friedman test, the Durbin–Conover post hoc test, and a supplementary Transition Network Analysis (TNA), the study finds statistically significant stock price differences across all EPS, RETE, and interest-rate categories, consistent with Signaling Theory. TNA further reveals that stock prices were predominantly stable across all 16 EPS–RETE–interest-rate–ESG combinations, but ESG-recognized firms reverted from Bull to Normal conditions far more readily (0.94–0.97) than non-ESG firms (0.60–0.69), a divergence interpreted through the Balinese-Hindu philosophy of Tri Hita Karana as reflecting differences in how firms balance profit generation with environmental and social responsibility. These findings suggest that sustainability status shapes not merely the direction but the character of stock price dynamics, offering both a longitudinal extension of signaling-based capital market research and a novel integration of Western finance theory with an indigenous value-based framework.
Co-Authors I Gusti Kadek Yoga Andika Priskila Anjeli Rondonuwu Steven J. Tangkuman