Application of ISAK 35 Concerning Financial Reports of Non-Profit Organizations at HKBP Gunung Bayu Church

Sahala Purba (Fakultas Ekonomi, Universitas Methodist Indonesia)
Ema Mastaria Sitanggang (Fakultas Ekonomi, Universitas Methodist Indonesia)

Asian Journal of Applied Business and Management (AJABM)
Vol. 1 No. 2 (2022): November 2022

HKBP Gunung Bayu Church is a non-profit oriented entity. HKBP is part of a Protestant Christian church denomination and a member of the Indonesian Church Association (PGI). The HKBP includes the Congregational Assembly Worker's Body (BPMJ) which compiles the plans and realization of church activities including accounting activities that present the church's financial reports. This study aims to implement the Interpretation of Financial Accounting Standards (ISAK) No. 35 on Presentation of Financial Statements of Nonprofit Oriented Entities at HKBP Gunung Bayu. The results showed that the presentation of financial reports at the HKBP Gunung Bayu Congregation was prepared based on the HKBP Treasury Oversight and Management Service Manual in the form of income, spending and budget realization. This means that the presentation of the financial reports of the Gunung Bayu Congregation of HKBP has not implemented ISAK No. 35 concerning the presentation of financial statements of non-profit oriented entities.