Creating and maintaining financial reports in the MSME sector is very important. With financial reports that are well-prepared and meet standards, small and medium entrepreneurs can control business operating costs, determine business profits and losses, identify accounts receivable and payable, and calculate taxes.
This was conveyed by Dr. Rina Tresnawati and the team of lecturers from the Faculty of Economics & Business (FEB) of Widyatama University (Utama) when conducting Community Service (PkM) activities for Micro, Small and Medium Enterprises (MSMEs) at Rumah Sayur Padaringan, Garut Regency, on June 18, 2022.
There are various strategies that need to be implemented so that a business venture can grow and be successful. One of them is that small and medium entrepreneurs need to have the ability to compile financial reports on their business activities that are relevant, reliable, comparable, and easy to understand.
According to the FEB Widyatama lecturer team, bookkeeping for MSME purposes is necessary so that the company’s financial reports are more structured. “Unfortunately, most MSMEs seem to only focus on marketing and product development,” said Rina.
“Many MSMEs still consider financial accounting to be an unimportant business activity,” said Rina in front of business owners and employees of Rumah Sayur Padaringan MSME.
The lack of knowledge among small and medium business owners on how to prepare good and proper financial reports, especially for newly established MSMEs, has caused many entrepreneurs to experience difficulties in developing their businesses in the future.
According to Rina, training on how to prepare financial reports was held because it was considered very important for any business activity, whether profit oriented or non-profit oriented. MSMEs are no exception.
Currently, the financial reporting standard for MSMEs uses SAK EMKM (Financial Accounting Standards for Micro, Small and Medium Entities).
This outreach, socialization, and training on business bookkeeping is a follow-up to the Community Service (PkM) provided by the Faculty of Economics & Business (FEB) lecturer team to MSMEs at Rumah Sayur Padaringan after the same event was held on December 14.
PkM activities such as this will continue to be promoted by the Widyatama University lecturer team as a form of higher education’s concern for the community, in order to increase literacy and disseminate knowledge.
The FEB UTama lecturer team for the PkM activity consisted of Dr. Evi Octavia, M.M., Ak., CA., Niki Hadian, M.M., Ak., CA., Dini Verdania Latif, M.Si., Ak., Syakieb Arsalan, M.M., Mochamad Kohar Mudzakar, M.Si., and Shinta Dewi Herawati, M.M., Ak., CA. ***
(Source: cirebon.pikiran-rakyat.com)
