SAK ETAP Implementation in the Financial Statements of Jati Maju Mandiri Savings and Loans Cooperative
DOI:
https://doi.org/10.65310/aj5v5n37Keywords:
Accounting Standards, Cooperative Accounting, Financial Reporting, SAK ETAP, Savings and Loans Cooperatives.Abstract
This study analyzes the implementation of the Financial Accounting Standards for Entities Without Public Accountability (SAK ETAP) in the 2024 financial statements of Jati Maju Mandiri Savings and Loans Cooperative. An empirical qualitative approach with a descriptive case-study design was employed using documentary analysis of financial statements and interviews with the Chairperson and Treasurer. The findings indicate that SAK ETAP was only partially implemented. The cooperative prepared a statement of financial position and an income statement but did not prepare a statement of changes in equity, statement of cash flows, or notes to the financial statements. Further inconsistencies were identified in the classification of current and non-current assets, presentation of bank accounts and member receivables, separation of liabilities and equity, and disclosure of fixed assets and depreciation policies. The income statement also presented prior-period profit as operating revenue and SHU distribution as an operating expense, reducing the clarity of current-period performance. Nevertheless, the cooperative had established fundamental accounting practices and recorded its principal financial transactions. The findings demonstrate that improving statement completeness, classification, presentation, and disclosure is necessary to strengthen financial reporting quality. The study provides empirical evidence for improving transparency, accountability, and SAK ETAP-oriented financial governance in savings and loans cooperatives.
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Copyright (c) 2026 Anna Fajarwaty, Ratna Sari Dewi, Tuti Achyani, Ellynawati Ellynawati, David Chandrawan (Author)
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