The Preparation of Not-For-Profit Organization Financial Statement: A Case Study on The Financial Statement of Indriya-Nati Foundation, Daerah Istimewa Yogyakarta
Abstract
Sari, Diah Nur Eko (2004). The Preparation of Not-for-Profit
Organization Financial Statement: A Case Study on The Financial Statement
of Indriya-nati Foundation, Daerah Istimewa Yogyakarta. Yogyakarta
Accounting Department. International Program. Faculty of Economics. Islamic
University of Indonesia.
The existences of social empowerment institutions are very important to
support and motivate independent society in Indonesia. Accountability of social
empowerment institution as not-for-profit organization becomes an important part
for the public. One of the instruments to declare accountability is by using
financial statement. Many not-for-profit organizations still use cash basis in
financial record whereas accrual basis gives more accurate financial description
inside the organization. The accurate financial descriptions needed to predict
future financial condition, evaluation, and organization's sustainability - where
most not-profit-organizations live from the impermanent donor's donation.
To give a guideline on the accounting report for not-for-profitorganization,
The Association of Indonesian Accountant (IAI) has already
promulgated the accounting standards. The standards established by IAI
concerning accounting treatment of not-for-profit organization are Financial
Accounting Standards, Statement No. 45 about Financial Statement of Not-for-
Profit Organization. Therefore, the research is focused on organization's financial
report system and its accordance with SFAS No. 45.
Jo find out the implementation of financial statement that in accordance
with SFAS No. 45, the researcher observes the financial statement of not-forprofit
organization within a case study on the Financial Statement ofIndriya-nati
Foundation, Daerah Istimewa Yogyakarta.
Based on the research and evaluation done by the researcher, then it can be
concluded that Indriya-nati Foundation has no appropriate internal control in its
accounting system and has no accurate data about fixed asset, account receivable,
and account payable. Then, Indriya-nati Foundation could not prepare financial
statement that is in accordance with SFAS No. 45.
Some suggestions have already been provided for improvement in Indriyanati
Foundation accounting system-performance. The proposed financial statement
in this research can be used as a basic-and guidance for the organization's next
period financial statement.
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