MSME PROPERTY ANALYSIS IN COMPETING FINANCIAL STATEMENTS BASED ON SMALL AND MEDIUM ACCOUNTING STANDARDS OF SMALL-MICRO ENTERPRISES (SAK EMKM)

Abstract

This study aims to analyze the readiness of SMEs in preparing financial statements using
financial accounting standards of small and medium entities in the district Tulungagung
Tulungagung. The research method used qualitative with quantitative data approach and
SWOT analysis tool.
The results obtained formulate several possible alternative strategies for entities based on the
consideration of a combination of four strategic factor opportunities, consisting of the SO
Strategy, This strategy is based on a way of thinking that is how entities use all the power to
take advantage of opportunities. MSMM has a financial reporting system with simple. Simple
financial statements consist only of the Income Statement as well as historical financial
statement records that can be done by preparing from the financial statements that have been
done, or essentially the preparation under SAK ETAP and can be continued with adjustments
with the latest SAK EMKM. ST Strategy, This strategy used the power of the entity by
avoiding threats and changing as opportunities. MSMEs have a simple financial reporting
system. Simple financial statements consist only of the Income Statement and historical
financial statement records that can be done by preparing from the financial statements that
have been done, or in essence preparation based on SAK ETAP can be done. So with the
progress of information technology, and policies that continues to grow MSME to follow and
implement, because competition is getting tougher.WO Strategy, This strategy is implemented
by taking advantage of existing opportunities and overcome the weaknesses. Low level of
education, lack of understanding and skills in accounting, no experts who can do standard
bookkeeping, No separation of personal funds with funds used in business processes, The
existence of SAK ETAP and will be raised SAK EMKM, Government is very attention to the
needs of SMEs, WT Strategy. This strategy is based on defensive activities aimed at
minimizing existing weaknesses and avoiding threats. Low level of education resulting in lack
of understanding and skills in accounting, No experts who can do the bookkeeping according
to the standards, the lack of separation of personal funds with funds used in business
processes, advances in information technology, policies are growing, Competitors